With the exception of the Dow Jones Industrial Average (DJI) trading just below breakeven, markets are moving higher, the Nasdaq Composite (IXIC) and S&P 500 Index (SPX) hitting fresh records by midday. Fueling today's upbeat sentiment is an extended pullback in crude prices, hopes that the U.S. and Iran are nearing a peace agreement, as well as a handful of agreeable earnings reports. Jobs data did come in below estimates, however, ushering a 200,000 reading for the week, below expectations of 206,000.
Social media name slips on grim outlook. Struggling quantum stock to watch after earnings. Plus, Whirlpool suffers war headwinds; chip giant sees more records; and the fast food stock to avoid.
Whirlpool Corp (NYSE:WHR) stock has made its way onto the short sale restricted (SSR) list today, last seen down 12.6% at $47.85 after the appliance manufacturer posted a Q1 sales miss and suspended its dividend. WHR is now trading at roughly 17-year lows, though the descending 50-day moving average is adding a layer of pressure. Options traders have swarmed in response, with over 14,000 puts across the tape, 13 times the average rate and more than double the amount of calls traded. Most popular are the May 45 and 47.50 puts, with new positions opening at the latter.
Semiconductor name Wolfspeed Inc (NYSE:WOLF) is one of the top stocks on the New York Stock Exchange (NYSE) today, up 8.7% to trade at $46.66, earlier tapping a record high of $49. WOLF is extending yesterday's post-earnings pop, headed for a third-straight daily win and adding to its now 171% year-to-date gain.
On the flip side, fast-food chain Shake Shack Inc (NYSE:SHAK) is one of the worst performers on the NYSE this afternoon, gapping 27% lower to trade at $70.08, after the company posted a first-quarter loss. The executive team cited short-term headwinds from the ongoing U.S.-Iran war and announced a new chief financial officer. SHAK has shed 15% in 2026 and is headed for its worst daily drop on record.
While shares of Wolfspeed (WOLF 6.89%) skyrocketed following its fiscal third-quarter earnings report, the company still faces serious issues. The question is: Could the company be headed toward bankruptcy again?
Remarkably, Wolfspeed shares are up nearly 170% this year, as of this writing. The company emerged from bankruptcy last fall with reduced debt and a new management team. However, the operational issues the company has faced have not yet been fixed.
Today's Change
(
-6.89
%) $
-3.14
Current Price
$
42.40
Serious issues remain Two of Wolfspeed's biggest issues before bankruptcy were negative gross margins and operating cash flow, and those issues have not gone away. For fiscal Q3, Wolfspeed recorded a gross margin of -27%, while its adjusted gross margin was -21%. That means it is selling its silicon carbide components for less than it costs to make them.
This pricing crunch stems largely from underutilization of its manufacturing facility, which it said contributed roughly $46 million. However, even if you strip that out, its gross margins would still be a paltry 4.6%. The company has struggled with yield issues in the past. On the earnings call, management said that it is "making progress with qualification on 200 millimeter material." Wolfspeed is still trying to prove to customers that its 200 millimeter wafers are reliable and defect-free.
At the same time, Wolfspeed's sales have struggled, which is also likely contributing to its underutilization issues. In fiscal Q3, its revenue fell 19% to $150.2 million. Electric vehicles (EVs) were supposed to be the big market for its silicon carbide chips, but the company has been struggling in this segment despite increasing EV adoption. As a result, it is trying to shift into other markets, like AI data centers, but it's still early.
Meanwhile, the company continues to burn cash. It produced negative operating cash flow of $84 million in the quarter. It ended the quarter with $1.2 billion in cash and short-term investments against $1.7 billion in debt, of which $798.3 million was in the form of convertible debt. In May, after the quarter, it closed a private placement of stock, convertible notes, and pre-funded warrants and redeemed nearly $476 million in senior secured notes. It said the move will save it $62 million a year in interest expense.
Looking ahead, Wolfspeed guided that its fiscal fourth-quarter revenue would come in between $140 million and $160 million. That's down from $197 million last year.
Image source: Getty Images.
Given Wolfspeed's cash on hand and cash outflows together with the interest expense savings it will get from its recent balance sheet reshuffling, it doesn't look like the company is headed toward bankruptcy again any time soon.
However, this business continues to struggle. It doesn't appear that Wolfspeed has convinced its customers that its yield issues with 200millimeter wafers are fully resolved, and it is already trying to move to 300mm, which is even more technologically challenging. Meanwhile, what was supposed to be its main market with EVs just isn't materializing.
The last thing investors are thinking about right now -- as Wall Street wrestles with surging oil prices and a AI sector reckoning -- is a short squeeze. But maybe that's what contrarians should be doing now, monitoring stocks to buy the dip on that could send bearish bettors packing.
This screen finds stocks where the shorts might be at a big loss and therefore likely to begin covering. Obviously, there are quite a few assumptions so these would be very rough estimates.
To estimate the return for the shorts, Rocky went back over the past year of short interest reports to find when the shorts were added. Then he used the average price over the prior two weeks and estimated the shorts were added at that average price. Below are stocks where significant shorts have been added and they could be at a big loss.
Bear in mind, this data is from the most recent reporting period (5/1).
For the past few months, the same names have kept appearing. So for this reporting period, the table below is sorted by short interest increases of the last month. Note that AST SpaceMobile Inc (NASDAQ:ASTS) has its fair share of detractors and 11% of its total available float sold short.
Oklo Inc (NYSE:OKLO) and Wolfspeed Inc (NYSE:WOLF) are also presenting a similar enticing setup; an exodus of bearish bettors, yet plenty of short squeeze potential still.
Key Takeaways NVTS sees grid infrastructure as a major AI-driven growth opportunity through 2030.Navitas estimates that the grid infrastructure market opportunity could reach up to $1.8B by 2030.NVTS AI infrastructure revenues jumped 50% sequentially in first-quarter 2026. Grid infrastructure could become a major long-term growth driver for Navistar Semiconductor (NVTS - Free Report) as rising artificial intelligence (AI)-related electricity demand is forcing utilities and energy providers to modernize aging power networks. The traditional electrical grid may struggle to support the massive energy requirements tied to next-generation AI data centers. That creates a favorable setup for higher adoption of advanced power semiconductor technologies.
Navitas estimates that the energy and grid infrastructure market could represent a $1 billion-$1.8 billion serviceable addressable market opportunity by 2030. The company also projects gallium nitride (GaN) and silicon carbide (SiC) adoption in this market to witness a 63-82% CAGR between 2025 and 2030, driven by demand for utility-scale renewable energy systems, battery energy storage systems, high-voltage direct current transmission and solid-state transformers.
In first-quarter 2026, AI infrastructure revenues— which combine data centers and grid infrastructure— grew 50% sequentially from the fourth quarter of 2025, significantly ahead of expectations. Hyperscaler AI deployments are already accelerating grid investment activity, as existing electrical infrastructure may struggle to support future multi-megawatt AI data center clusters.
Navistas’ GeneSiC portfolio targets grid-tied applications, including utility solar, energy storage and high-efficiency power conversion systems. Opportunities for next-generation solid-state transformers are rising, which can deliver more than 98% efficiency compared with less than 95% for conventional transformers while significantly improving power density and reducing system size.
Navitas believes its high-voltage and ultra-high-voltage silicon carbide portfolio is well positioned to benefit from rising investment in grid modernization, renewable integration and next-generation power infrastructure.
Competitive Context: WOLF & ONWolfspeed Inc. (WOLF - Free Report) is targeting rising demand for high-voltage silicon carbide applications tied to AI infrastructure and electrification markets. The company’s efforts to expand into medium- to high-voltage verticals such as AI datacenters reflect growing industry focus on next-generation power infrastructure. As one of the leading pure-play silicon carbide companies, Wolfspeed remains positioned to benefit from long-term investment in high-efficiency power conversion and grid-related electrification technologies.
ON Semiconductor (ON - Free Report) is also expanding its exposure to grid and energy infrastructure markets through its silicon carbide and GaN portfolio. The company’s recent design win with Sineng Electric to support 430kW liquid-cooled energy storage systems and 320kW solar inverters highlights growing demand for high-efficiency power conversion technologies. Alongside rising AI infrastructure exposure, ON Semiconductor continues positioning itself around renewable integration, industrial electrification and next-generation energy infrastructure opportunities.
NVTS' Price Performance, Valuation & EstimatesShares of Navitas Semiconductor have rallied roughly 200% year to date compared with the industry’s growth of 40%.
Image Source: Zacks Investment Research
From a valuation standpoint, Navitas Semiconductor trades at a forward price-to-sales ratio of 91.78X, significantly higher than the industry’s average of 9.33X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Navitas’ 2026 and 2027 bottom line is pegged at a loss of 17 cents/share and 15 cents/share, respectively. See how the loss estimates have been revised over the past 90 days.
Image Source: Zacks Investment Research
Navitas currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Wolfspeed (WOLF) is now positioned as a scarce AI infrastructure asset, not a distressed EV supplier. Q3 delivered 30% sequential AI data center revenue growth, improved gross margin, and a significant $476M debt refinancing. WOLF's vertically integrated 200mm SiC fab, first-to-market 10kV MOSFET, and application-led go-to-market underpin the investment thesis.
DURHAM, N.C.--(BUSINESS WIRE)--Wolfspeed has introduced two new 3.3 kV silicon carbide (SiC) power module families – including high-power half-bridge baseplate modules and scalable full-bridge baseplate-less modules in industry-standard footprints — that are purpose-built to address the rapidly approaching power constraints driven by AI data centers and the broader energy transition. Meeting this moment requires power generation, conversion, and distribution that is faster, smaller, more efficient, cost-effective, and more resilient than anything silicon alone can deliver. These new module families give engineers the tools to modernize energy infrastructure across the entire energy life cycle.
"The release of this 3.3 kV MOSFET voltage node in two complementary footprints was a strategic decision," said Guy Moxey, vice president of Wolfspeed's Industrial & Energy business. "We understand the urgency our customers are facing to scale power infrastructure, and these two families enable both established grid-scale players and emerging players with modular architectures to move quickly. We are giving engineers the tools to build the grid of tomorrow, today — and only by working together can we successfully address the surging demand for power and unlock the full potential of AI and electrification."
Your System — Your Choice
The two 3.3 kV families enable design engineers to reduce power stages and move to a 2-level topology for 2 kV and higher DC-link architectures — with the choice of baseplate and baseplate-less SiC power modules.
The high-power half-bridge baseplate SiC power module (LM platform) is designed for >800 amp (A) applications and optimized for demanding converter topologies used in solar, grid-scale energy storage, and wind-power infrastructure.
The scalable full-bridge baseplate-less (part of the Wolfspeed WolfPACK® family) SiC power module is engineered for modularity, offering flexibility to configure multi-level, series-stacked, or parallel converter architectures with consistent, matched performance — and is optimized for solid-state transformers (SSTs) and modular renewable energy infrastructure.
Purpose-Built for Continuous 24/7, 2 kV+ DC-Link Operation
Both families are engineered for the relentless demands of always-on infrastructure. The Wolfspeed WolfPACK® module leverages cutting-edge sintered die attach and epoxy encapsulant material to deliver a significant improvement in power cycling performance over standard silicon gel encapsulated modules. Similarly, the baseplate module achieves improved system durability and power cycling through advanced packaging technology featuring sintered die attach and a copper die-top system. Both families feature Gen 4 technology with improved cosmic ray susceptibility.
“Amperesand is focused on critical power delivery from medium voltage to AI rack, requiring best-in-class reliability, power density, efficiency, and cost effectiveness,” said Brian Dow, Chief Executive Officer at medium-voltage solid-state transformer manufacturer Amperesand. “The latest advances in SiC technology enable maximum reliability for high variability AI factory loads, while unlocking optimized packaging that drives previously unachievable costs and best-in-industry power density and efficiency. Wolfspeed is driving innovation, scale, and quality that is ideally suited for demanding solid-state transformer critical power solutions.”
Smaller Size – Lower System Cost
The Wolfspeed WolfPACK® module enables solid-state transformer systems to deliver over 50% footprint reduction compared to traditional equipment through improved switching performance and system architecture improvements. Read how Amperesand is engineering for industry-leading space savings and 20-30-year lifetime for their 6+ MW medium voltage SST using the 3.3 kV Wolfspeed WolfPACK® solution here.
The new high-power baseplate module delivers up to 42% improvement in switching losses over other market-available SiC solutions and greater than 90% over IGBTs — both measured at 125°C on a 1.8 kV bus in the same package.
Both families achieve improved switching over temperature, reducing magnetics and EMI filter sizes, ultimately leading to system power density and reduced system costs.
Availability & Resources
Samples for the full-bridge Wolfspeed WolfPACK® IBB020A33GM4, IBB020A33GM4T and for HAB900C33LM4 are available for select customers through Wolfspeed’s direct sales representatives.
Both families will be demonstrated at PCIM, June 9–11, 2026, at booth 7-435, with live demonstrations showcasing system-level performance and scalability. To schedule a meeting with a Wolfspeed expert at the show, visit here.
About Wolfspeed Inc.
Wolfspeed (NYSE: WOLF) leads the market in the worldwide adoption of silicon carbide technologies that power the world’s most disruptive innovations. As the pioneers of silicon carbide, and creators of the most advanced semiconductor technology on earth, we are committed to powering a better world for everyone. Through silicon carbide material, Power Modules, Discrete Power Devices and Power Die Products targeted for various applications, we will bring you The Power to Make It Real™. Learn more at wolfspeed.com.
Wolfspeed®, Wolfspeed WolfPACK®, and WolfPACK® are registered trademarks and The Power to Make It Real™ is a trademark of Wolfspeed, Inc.
Forward-Looking Statements
This press release contains forward-looking statements involving risks and uncertainties, both known and unknown, that may cause Wolfspeed’s actual results to differ materially from those indicated in the forward-looking statements. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about Wolfspeed’s strategic plans, priorities, growth opportunities, and ability to achieve profitability. Actual results could differ materially due to factors detailed in Wolfspeed’s filings with the U.S. Securities and Exchange Commission (“SEC”), including its most recent Annual Report on Form 10-K and subsequent SEC filings. These forward-looking statements represent Wolfspeed’s judgment as of the date of this release. Except as required under U.S. federal securities laws, Wolfspeed disclaims any intent or obligation to update any forward-looking statements after the date of this release.
Even after its share price dropped more than 20% at one point on no news on May 27, Wolfspeed (WOLF 6.89%) has been one of the hottest stocks in the market the past month, more than doubling in value. The rise in the stock appears to stem largely from Substack publication Citrini Research pumping it up.
Run by James van Geelen, whose past experience has been running an "alternative medicine" business and working as an emergency medical technician (EMT), Citrini has managed to gain a following despite its founder's lack of investment experience. The research outfit has made a name for itself in some peculiar ways over the past year.
It helped sink software-as-a-service (SaaS) stocks after publishing a thought piece about how artificial intelligence (AI) could negatively impact different businesses in the future. It was later revealed that the idea came from small hedge fund manager, Alap Shah, who was shorting the stocks mentioned in the article. Then earlier this year, Citrini claimed it sent an analyst to the Strait of Hormuz to interview smugglers, fishermen, and officials armed with $15,000 in cash, Cuban cigars, and a roll of Zyn. While news outlets, including CNBC, reported on this, it was never independently confirmed that this actually happened.
Image source: The Motley Fool.
More recently, Citrini has been pumping up Wolfspeed's stock, highlighting the value of its fabs, saying they deserve a premium as they are unlikely to ever be replicated. It also sees a huge opportunity in its silicon carbide (SiC) powered chips within AI data centers. With much of its debt wiped out following its previous bankruptcy, Citrini called this the perfect setup.
Looking for a new market The big gap in Citrini's argument, though, is that Wolfspeed is really a company looking to find a market for its chips. The company was originally supposed to become the dominant player in the electric vehicle (EV) market due to the superior heat-conducting properties of its SiC chips, which would enable faster charging times and longer ranges. However, Tesla was able to improve its thermal dynamics and mix SiC with traditional silicon chips to reduce its SiC utilization by 75%, really denting Wolfspeed's sales. Today, SiC is mostly used in high-performance EVs and not in the mass market.
As such, sales have been on the decline, and Wolfspeed is looking to turn to the AI market. Now there is some potential here, as distributing power at higher voltages through the use of SiC solid-state transformers (SSTs) can improve power efficiency and reduce maintenance costs. If data centers are going to want to move up to 800 volts, they could have to turn to SiC.
Today's Change
(
-6.89
%) $
-3.14
Current Price
$
42.40
However, SiC is much more expensive than silicon chips, and Citrini is trying to enter a market that is looking to reduce infrastructure capital expenditures (capex), not drive them higher. At the same time, it has run into a lot of yield issues in the past, and it has negative gross margins, as its fab remains underutilized. It's tough to imagine hyperscalers or chip designers feeling comfortable changing architecture that would solely rely on a supplier with a history of operational hiccups.
Wolfspeed's gains over the past month can largely be attributed to Citrini pumping a stock that has a 33% short interest. The company has yet to prove it has a business model that works, and it's rare to luck into finding a new market for a product after the first one didn't play out as hoped. Wolfspeed's business remains an incredibly risky, unprofitable manufacturing operation that still has to prove it can run its fabs at a high enough yield to survive without further dilution.
While it has an outside chance of becoming an AI winner, I'd stay far away from the stock after this run.
Industry Veterans Ganesh Srinivasan and Yogesh Ramadass Appointed to Accelerate Expansion into Next-Generation Data Center Power Solutions
DURHAM, N.C. & SANTA CLARA, Calif.--(BUSINESS WIRE)--Wolfspeed, Inc. (NYSE: WOLF), a global leader in silicon carbide technology, today announced an expansion into the rapidly growing data center market with the creation of a dedicated data center solutions team and regional office in the San Francisco Bay Area. The new Wolfspeed data center solutions team is targeted to enable closer alignment with leading hyperscalers, ODMs and the entire ecosystem to build differentiated products and solutions for AI and other data center applications.
Demand for next-generation data center power architecture innovations has never been greater. This move more effectively positions Wolfspeed to deliver high-voltage SiC power solutions engineered to drastically reduce energy loss and maximize efficiency for modern AI infrastructure.
"The sheer scale of AI computing demands a fundamental rewrite of data center power architecture," said Robert Feurle, CEO of Wolfspeed. "Moving to higher voltages is no longer optional — it's a necessity. With our new data center solutions team at the epicenter of tech innovation, Wolfspeed is uniquely positioned to deliver the high-voltage solutions our hyperscaler and ODM partners need to build the efficient data centers of tomorrow."
Ganesh Srinivasan joins as Senior Vice President to lead our data center solutions team. Ganesh brings deep data center experience to Wolfspeed, having worked closely not only with hyperscalers but also with the entire ODM ecosystem to deliver end-to-end power and signal connectivity solutions for high-density AI clusters. Previous to his appointment at Wolfspeed, Ganesh served as VP of Product Management for the AI, Cloud, and Enterprise business at TE Connectivity. Prior to TE Connectivity, he spent more than 17 years leading multiple power business product lines at Texas Instruments. He holds M.S. and Ph.D. degrees in Electrical Engineering from Georgia Tech.
Yogesh Ramadass joins as Vice President, Power Systems Solutions & Fellow, in the data center solutions team. Yogesh is an expert in high-and low-voltage power topologies and author of more than 160 technical articles. He most recently led R&D efforts across high-voltage power management, MEMS and sensors at Texas Instruments. Yogesh holds S.M. and Ph.D. degrees from the Massachusetts Institute of Technology and is a former IEEE Distinguished Lecturer and chair of the ISSCC Power Management Subcommittee.
This investment demonstrates Wolfspeed’s commitment to strengthen its capabilities to support long-term growth, effective execution, and value creation for customers and shareholders worldwide.
About Wolfspeed, Inc.
Wolfspeed (NYSE: WOLF) leads the market in the worldwide adoption of silicon carbide technologies that power the world’s most disruptive innovations. As the pioneers of silicon carbide, and creators of the most advanced semiconductor technology on earth, we are committed to powering a better world for everyone. Through silicon carbide material, Power Modules, Discrete Power Devices and Power Die Products targeted for various applications, we will bring you The Power to Make It Real™ . Learn more at wolfspeed.com.
Wolfspeed® is a registered trademark and The Power to Make It Real™ is a trademark of Wolfspeed, Inc.
Forward-Looking Statements
This press release contains forward-looking statements involving risks and uncertainties, both known and unknown, that may cause Wolfspeed’s actual results to differ materially from those indicated in the forward-looking statements. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about Wolfspeed’s strategic plans, priorities, growth opportunities, and ability to achieve profitability. Actual results could differ materially due to factors detailed in Wolfspeed’s filings with the U.S. Securities and Exchange Commission (“SEC”), including its most recent Annual Report on Form 10-K and subsequent SEC filings. These forward-looking statements represent Wolfspeed’s judgment as of the date of this release. Except as required under U.S. federal securities laws, Wolfspeed disclaims any intent or obligation to update any forward-looking statements after the date of this release.
DURHAM, N.C.--(BUSINESS WIRE)--GE Aerospace (NYSE: GE) and Wolfspeed Inc. (NYSE: WOLF) today announced that they have entered into a Memorandum of Understanding (MOU) to collaborate on accelerating the adoption of high-voltage silicon carbide across the industrial, aerospace and defense markets.
Under the MOU, the companies plan to develop standards for high-voltage silicon carbide-based power modules to support solid-state transformers, industrial electrification, and next-generation aerospace & defense (A&D) platforms while strengthening supply chain resilience. These higher-voltage power modules will enable systems with fewer series-connected devices and less complexity, enabling solutions that are more compact, efficient and reliable.
“Separately, our two companies have contributed to several industry-first technologies,” said Kris Shepherd, president of Electrical Power for GE Aerospace. “Together, we’re ready to shape a robust value chain of high-power silicon carbide based on a mutual appreciation for achieving smaller, reliable and more efficient high-voltage end systems.”
"As AI, electrification, and defense platforms push power demands higher and timelines shorter, GE Aerospace and Wolfspeed are uniquely positioned to deliver the high-voltage silicon carbide building blocks the market needs," said Robert Feurle, CEO at Wolfspeed. “By securing domestic sourcing of high-power silicon carbide modules, the two companies are jointly committed to enabling systems that improve efficiency and lower time-to-power. High-voltage silicon carbide is finally production-ready exactly as the market confronts a power-delivery crunch legacy silicon cannot solve.”
Leveraging silicon carbide, GE Aerospace recently qualified high-voltage power units for U.S. military ground vehicles, marking them production ready. The team also successfully demonstrated their fourth generation of silicon carbide power MOSFET (metal-oxide-semiconductor-field-effect transistors) devices at the company’s Research Center in Niskayuna, N.Y. that will improve switching speed, efficiency, and durability.
Wolfspeed leads the industry in high-volume 200 mm silicon carbide manufacturing and recently introduced the world's first commercially available 10 kV SiC MOSFET — honored as a PCIM Top Innovation — giving the industrial, AI, and aerospace & defense markets a production-ready path to high-voltage power.
About Wolfspeed, Inc.
Wolfspeed (NYSE: WOLF) leads the market in the worldwide adoption of silicon carbide technologies that power the world’s most disruptive innovations. As the pioneers of silicon carbide, and creators of the most advanced semiconductor technology on earth, we are committed to powering a better world for everyone. Through silicon carbide material, Power Modules, Discrete Power Devices and Power Die Products targeted for various applications, we will bring you The Power to Make It Real™ Learn more at wolfspeed.com. Wolfspeed® is a registered trademark and The Power to Make It Real™ is a trademark of Wolfspeed, Inc.
About GE Aerospace
GE Aerospace is a global aerospace propulsion, services, and systems leader with an installed base of approximately 50,000 commercial and 30,000 military aircraft engines. With a global team of approximately 57,000 employees building on more than a century of innovation and learning, GE Aerospace is committed to inventing the future of flight, lifting people up, and bringing them home safely. Learn more about how GE Aerospace and its partners are defining flight for today, tomorrow, and the future at www.geaerospace.com.
GE Aerospace (NYSE: GE) and Wolfspeed Inc. (NYSE: WOLF) today announced that they have entered into a Memorandum of Understanding (MOU) to collaborate on accelerating the adoption of high-voltage silicon carbide across the industrial, aerospace and defense markets.
Under the MOU, the companies plan to develop standards for high-voltage silicon carbide-based power modules to support solid-state transformers, industrial electrification, and next-generation aerospace & defense (A&D) platforms while strengthening supply chain resilience. These higher-voltage power modules will enable systems with fewer series-connected devices and less complexity, enabling solutions that are more compact, efficient and reliable.
“Separately, our two companies have contributed to several industry-first technologies,” said Kris Shepherd, president of Electrical Power for GE Aerospace. “Together, we’re ready to shape a robust value chain of high-power silicon carbide based on a mutual appreciation for achieving smaller, reliable and more efficient high-voltage end systems.”
"As AI, electrification, and defense platforms push power demands higher and timelines shorter, GE Aerospace and Wolfspeed are uniquely positioned to deliver the high-voltage silicon carbide building blocks the market needs," said Robert Feurle, CEO at Wolfspeed. “By securing domestic sourcing of high-power silicon carbide modules, the two companies are jointly committed to enabling systems that improve efficiency and lower time-to-power. High-voltage silicon carbide is finally production-ready exactly as the market confronts a power-delivery crunch legacy silicon cannot solve.”
Leveraging silicon carbide, GE Aerospace recently qualified high-voltage power units for U.S. military ground vehicles, marking them production ready. The team also successfully demonstrated their fourth generation of silicon carbide power MOSFET (metal-oxide-semiconductor-field-effect transistors) devices at the company’s Research Center in Niskayuna, N.Y. that will improve switching speed, efficiency, and durability.
Wolfspeed leads the industry in high-volume 200 mm silicon carbide manufacturing and recently introduced the world's first commercially available 10 kV SiC MOSFET — honored as a PCIM Top Innovation — giving the industrial, AI, and aerospace & defense markets a production-ready path to high-voltage power.
About Wolfspeed, Inc.
Wolfspeed (NYSE: WOLF) leads the market in the worldwide adoption of silicon carbide technologies that power the world’s most disruptive innovations. As the pioneers of silicon carbide, and creators of the most advanced semiconductor technology on earth, we are committed to powering a better world for everyone. Through silicon carbide material, Power Modules, Discrete Power Devices and Power Die Products targeted for various applications, we will bring you The Power to Make It Real™ Learn more at wolfspeed.com. Wolfspeed® is a registered trademark and The Power to Make It Real™ is a trademark of Wolfspeed, Inc.
About GE Aerospace
GE Aerospace is a global aerospace propulsion, services, and systems leader with an installed base of approximately 50,000 commercial and 30,000 military aircraft engines. With a global team of approximately 57,000 employees building on more than a century of innovation and learning, GE Aerospace is committed to inventing the future of flight, lifting people up, and bringing them home safely. Learn more about how GE Aerospace and its partners are defining flight for today, tomorrow, and the future at www.geaerospace.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260608182179/en/
GE Aerospace (NYSE:GE) shares are trading lower on Monday.
• GE Aerospace shares are experiencing downward pressure. What’s pulling GE shares down?
This news comes during a day when major indices are showing positive momentum, with the S&P 500 up 0.80% and the Nasdaq gaining 2.28%, suggesting that GE Aerospace’s decline might be more related to company-specific factors than broader market trends.
Partner On High-Voltage Silicon CarbideThe companies have entered into a Memorandum of Understanding (MOU) aimed at developing high-voltage silicon carbide-based power modules.
The agreement covers the supply of Wolfspeed's 10 kV MOSFET die and joint development of standardized high-voltage power module designs for future commercial deployment.
The collaboration also aligns with U.S. government priorities aimed at accelerating critical technologies and enabling faster deployment of power solutions for strategic sectors such as artificial intelligence.
The company expects to enhance efficiency and reliability in aerospace and defense applications, particularly as GE recently qualified high-voltage power units for U.S. military ground vehicles.
GE Stock Technical Outlook: Key Levels and MomentumDespite the positive news regarding innovation and collaboration, the stock is moving against a backdrop of a generally strong market, indicating potential concerns specific to GE Aerospace.
Currently, GE Aerospace is trading at $323.50, which is about 5.5% above its 20-day simple moving average (SMA) of $306.40. The stock has shown a solid 12-month performance, up 28.60%, but is facing pressure due to a recent death cross in May, where the 50-day SMA crossed below the 200-day SMA.
Momentum indicators are showing mixed signals; the MACD is above its signal line, indicating that downside pressure is easing, which could suggest a potential for recovery. However, the stock remains in a precarious position, trading 6.9% above the 200-day SMA, which could act as a key support level.
Key Resistance: $348.50 — Nearby level where rebounds can stall. Key Support: $279.50 — Nearby level where buyers previously stepped in. GE Earnings Preview and Analyst Price TargetsGE Aerospace is slated to provide its next financial update on July 16 (estimated).
EPS Estimate: $1.85 (Up from $1.66) Revenue Estimate: $11.78 Billion (Up from $11.02 Billion) Valuation: P/E of 40.7x (Indicates premium valuation) Analyst Consensus & Recent Actions: The stock carries a Buy rating with a consensus price target of $271.96. Recent analyst moves include:
Seaport Global: Initiated with Buy (Target $375 on May 27) RBC Capital: Outperform (Maintains target to $355 on May 20) Morgan Stanley: Overweight (Lowers target to $400 on April 22) How GE Ranks On Value, Growth, Quality and MomentumBelow is the Benzinga Edge scorecard for GE Aerospace, highlighting its strengths and weaknesses compared to the broader market:
Value: 3.64 — Stock is trading at a steep premium relative to peers. Growth: 41.5 — Moderate growth potential observed. Quality: 86.8 — Indicates a strong balance sheet and operational efficiency. Momentum: 69.66 — Stock is showing decent momentum, but not exceptionally strong. The Verdict: GE Aerospace’s Benzinga Edge signal reveals a mixed profile with strong quality metrics but a premium valuation. While the company shows potential for growth, its current momentum and value rankings suggest caution for investors considering entry points.
Top ETF Holding GE Stock and Why It Matters Invesco Aerospace & Defense ETF (NYSE:PPA): 7.78% Weight Significance: Because GE carries such a heavy weight in this fund, any significant inflows or outflows for the ETF will likely trigger automatic buying or selling of the stock.
GE Stock Slides Despite Broader Market StrengthGE Stock Price Activity: GE Aerospace shares were down 1.72% at $322.36 at the time of publication on Monday, according to Benzinga Pro data.
Photo via Shutterstock
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Market News and Data brought to you by Benzinga APIs
This is a fair market value price provided by Massive. Learn more.
52-Week Range$8.05▼
$80.82Price Target$20.00
A strategic pivot is unfolding in the semiconductor space, reshaping the investment thesis for a key industry player. For months, the narrative surrounding Wolfspeed NYSE: WOLF was anchored to the headwinds facing the consumer electric vehicle market.
A recent Memorandum of Understanding with aerospace and defense giant GE Aerospace NYSE: GE has shattered that perspective, validating Wolfspeed's technology in high-margin, inelastic sectors and signaling a significant strategic realignment. This move, combined with a dramatically improved balance sheet and a next-generation technology release, suggests the market is re-evaluating Wolfspeed not as a struggling EV supplier, but as a critical enabler of U.S. industrial and defense infrastructure.
Get Wolfspeed alerts:
Engaging the Afterburners With GE AerospaceThe June 8 agreement with GE Aerospace could redefine Wolfspeed's trajectory. The two companies will collaborate to accelerate the adoption of advanced high-voltage silicon carbide power modules. This is not about the crowded passenger EV market; the focus is on industrial electrification, solid-state power grids, and, most critically, next-generation aerospace and defense platforms.
GE Aerospace has already qualified Wolfspeed's 10 kilovolt SiC power units for deployment in U.S. military ground vehicles, with production cycles slated to begin in 2027. This development provides Wolfspeed with a sticky, government-backed revenue stream that is largely insulated from consumer spending cycles and macroeconomic volatility.
For investors, this translates into a more predictable, high-margin revenue floor that fundamentally de-risks Wolfspeed's forward-looking financial profile. The pivot away from a primary reliance on the EV supply chain, which has been plagued by demand fluctuations and margin compression, toward the stringent requirements of defense applications validates the robustness and reliability of Wolfspeed's technology.
A Balance Sheet Built for a New MissionThis strategic pivot is made possible by a financial transformation that cannot be overstated. Wolfspeed's 2025 Chapter 11 restructuring was a necessary and painful reset, but Wolfspeed emerged with a radically different balance sheet. The process eliminated approximately $4.6 billion in debt, instantly resolving the insolvency concerns that had fueled a persistent bearish narrative.
With a current liquidity profile of around $1.2 billion and a healthy current ratio of 7.73, Wolfspeed now possesses the financial stability and operational runway to execute its long-term vision. This fortified balance sheet provides the capital necessary to scale production and invest in research and development without the crushing weight of near-term debt obligations. This financial health was a prerequisite for a partner like GE Aerospace, which requires supply chain stability and long-term viability from its critical component manufacturers.
Unlocking Next-Level Efficiency for AI and BeyondUnderpinning the strategic partnerships is a clear technological advantage. On June 9, 2026, Wolfspeed unveiled its Gen 5 SiC MOSFET technology, a development that directly addresses the most pressing needs of modern power systems. Manufactured at its automated 200mm Mohawk Valley facility in New York, this new architecture delivers a market-leading specific on-resistance, a key measure of efficiency.
Lower on-resistance means less energy is wasted as heat, a critical factor in power-dense applications. This efficiency is paramount for the artificial intelligence (AI) data center market, where cooling and power consumption are primary operational costs.
A May 2026 research memo from Citrini Research previously highlighted Wolfspeed's 300mm SiC wafer technology as a key enabler for AI infrastructure, and the Gen 5 release solidifies this position. By providing a component that dramatically improves power conversion efficiency, Wolfspeed is positioning itself as an essential supplier for the build-out of global AI capabilities, a secular tailwind with years of growth ahead.
The Flight Path ForwardThe market's reaction has been swift, with Wolfspeed's stock price appreciating significantly year to date as investors digest the implications of the new strategy. The extreme short interest that had built up around Wolfspeed was predicated on the old thesis of a struggling EV supplier with a weak balance sheet. The GE Aerospace pact and Wolfspeed's financial restructuring invalidated that premise, creating powerful technical tailwinds as bearish positions were forced to unwind.
However, investors should consider the associated risks. While the long-term picture appears promising, the revenue from these new defense and industrial partnerships will take time to materialize. Wolfspeed's Q4 2026 revenue guidance remains modest at $140 million to $160 million, indicating the transition is still in its early stages. Execution risk, particularly in scaling the Mohawk Valley facility to meet projected demand, remains a key variable.
For investors with a long-term horizon, the Wolfspeed story is no longer about the short-term fluctuations of EV sales. It is about Wolfspeed's successful pivot to become a foundational supplier for the U.S. industrial base, the aerospace industry, and the power-hungry AI revolution.
Those confident in the management's ability to execute on these new, high-margin opportunities may view the recent re-rating as the beginning of a new valuation chapter. Cautious investors, however, may prefer to monitor upcoming earnings reports for tangible evidence of revenue diversification and margin expansion before committing capital.
Should You Invest $1,000 in Wolfspeed Right Now?Before you consider Wolfspeed, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wolfspeed wasn't on the list.
While Wolfspeed currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Click the link to learn more about using beta to protect your portfolio.
Wynn Resorts (NASDAQ:WYNN – Get Free Report) and PLAYSTUDIOS (NASDAQ:MYPS – Get Free Report) are both consumer discretionary companies, but which is the superior stock? We will contrast the two businesses based on the strength of their valuation, institutional ownership, risk, dividends, earnings, profitability and analyst recommendations.
Insider and Institutional Ownership 88.6% of Wynn Resorts shares are owned by institutional investors. Comparatively, 37.5% of PLAYSTUDIOS shares are owned by institutional investors. 0.5% of Wynn Resorts shares are owned by company insiders. Comparatively, 14.7% of PLAYSTUDIOS shares are owned by company insiders. Strong institutional ownership is an indication that large money managers, endowments and hedge funds believe a company will outperform the market over the long term.
Valuation and Earnings This table compares Wynn Resorts and PLAYSTUDIOS”s top-line revenue, earnings per share (EPS) and valuation.
Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Wynn Resorts $7.14 billion 1.46 $327.33 million $3.00 33.48 PLAYSTUDIOS $235.10 million 0.25 -$28.64 million ($0.22) -2.06 Wynn Resorts has higher revenue and earnings than PLAYSTUDIOS. PLAYSTUDIOS is trading at a lower price-to-earnings ratio than Wynn Resorts, indicating that it is currently the more affordable of the two stocks.
Analyst Recommendations This is a summary of recent recommendations for Wynn Resorts and PLAYSTUDIOS, as reported by MarketBeat.com.
Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Wynn Resorts 0 3 13 1 2.88 PLAYSTUDIOS 1 2 1 0 2.00 Wynn Resorts presently has a consensus price target of $138.53, indicating a potential upside of 37.94%. PLAYSTUDIOS has a consensus price target of $1.25, indicating a potential upside of 175.82%. Given PLAYSTUDIOS’s higher possible upside, analysts clearly believe PLAYSTUDIOS is more favorable than Wynn Resorts.
Profitability This table compares Wynn Resorts and PLAYSTUDIOS’s net margins, return on equity and return on assets.
Net Margins Return on Equity Return on Assets Wynn Resorts 4.59% -39.05% 3.41% PLAYSTUDIOS -12.18% -10.75% -8.43% Risk & Volatility Wynn Resorts has a beta of 1.04, suggesting that its stock price is 4% more volatile than the S&P 500. Comparatively, PLAYSTUDIOS has a beta of 0.95, suggesting that its stock price is 5% less volatile than the S&P 500.
Summary Wynn Resorts beats PLAYSTUDIOS on 12 of the 15 factors compared between the two stocks.
About Wynn Resorts (Get Free Report)
Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays. The Wynn Macau segment operates casino space with private gaming salons, sky casinos, and a poker room; a luxury hotel tower, that include health clubs, spas, a salon, and a pool; food and beverage outlets; retail space; meeting and convention space; and Chinese zodiac-inspired ceiling attractions. The Las Vegas Operations segment operates casino space with private gaming salons, a sky casino, a poker room, and a race and sports book; a luxury hotel tower with suites, and villas, including swimming pools, private cabanas, full-service spas and salons, and a wedding chapel; food and beverage outlets; meeting and convention space; retail space; and theaters, nightclubs, a beach club. The Encore Boston Harbor segment operates casino space with gaming areas, and a poker room; a luxury hotel tower including a spa and salon; food and beverage outlets and a nightclub; retail space; meeting and convention space; and a waterfront park, floral displays, and water shuttle service. Wynn Resorts, Limited was incorporated in 2002 and is based in Las Vegas, Nevada.
About PLAYSTUDIOS (Get Free Report)
PLAYSTUDIOS, Inc. develops and publishes free-to-play casual games for mobile and social platforms in the United States and internationally. The company's game portfolio includes a diverse range of titles comprising social casino, card, puzzle, and adventure games. It also offers POP! Slots, myVEGAS Slots, my KONAMI Slots, MGM Slots Live, myVEGAS Blackjack, myVEGAS Bingo, Tetris, Solitaire, Spider Solitaire, Jumbline 2, Sudoku, and Mahjong games. PLAYSTUDIOS, Inc. is headquartered in Las Vegas, Nevada.
Receive News & Ratings for Wynn Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wynn Resorts and related companies with MarketBeat.com's FREE daily email newsletter.
« PREVIOUS HEADLINERalliant (NYSE:RAL) versus Senseonics Holdings, Inc. Common Stock (NASDAQ:SENS) Head-To-Head Analysis
NEXT HEADLINE »Farmers & Merchants Bank of Long Beach (OTCMKTS:FMBL) versus Cathay General Bancorp (NASDAQ:CATY) Head-To-Head Analysis
Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Wynn Resorts, Limited (NASDAQ: WYNN) announced today that it will release the Company's financial results for the first quarter ended March 31, 2026 after the market close on Thursday, May 7, 2026, followed by a conference call at 1:30 p.m. PT (4:30 p.m. ET).
The call will be broadcast live at www.wynnresorts.com under the "Investors" section. Interested parties may also dial (888) 455-5965 or, for international callers, (773) 799-3869. The conference call access code is 1056446.
A replay of the call will be available through June 7, 2026 by dialing (866) 361-4942 or, for international callers, (203) 369-0190. The replay access code is 3574189. The call will also be archived at www.wynnresorts.com.
LAS VEGAS, April 21, 2026 /PRNewswire/ -- Wynn Resorts (Nasdaq: WYNN), a global leader in luxury hospitality, today announced the release of its 2025 Environmental, Social and Governance (ESG) Report and Executive Overview, detailing the Company's environmental sustainability, workforce development and community impact initiatives across its North American operations. The Wynn Resorts ESG Report 2025 highlights continued investment in employee development, measurable improvements in environmental performance and record-setting philanthropic contributions.
Wynn Resorts (WYNN - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended March 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The earnings report, which is expected to be released on May 7, 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 casino operator is expected to post quarterly earnings of $1.18 per share in its upcoming report, which represents a year-over-year change of +10.3%.
Revenues are expected to be $1.8 billion, up 5.9% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 1.9% 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 an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
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 Wynn?For Wynn, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +4.51%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination indicates that Wynn will most likely 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 Wynn would post earnings of $1.33 per share when it actually produced earnings of $1.17, delivering a surprise of -12.03%.
The company has not been able to beat consensus EPS estimates in any of the last four quarters.
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.
Wynn appears 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 ResultsFlutter Entertainment (FLUT - Free Report) , another stock in the Zacks Gaming industry, is expected to report earnings per share of $1.15 for the quarter ended March 2026. This estimate points to a year-over-year change of -27.7%. Revenues for the quarter are expected to be $4.28 billion, up 16.7% from the year-ago quarter.
The consensus EPS estimate for Flutter has been revised 33.9% lower over the last 30 days to the current level. However, an equal Most Accurate Estimate has resulted in an Earnings ESP of 0.00%.
This Earnings ESP, combined with its Zacks Rank #5 (Strong Sell), makes it difficult to conclusively predict that Flutter 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.
, /PRNewswire/ -- Wynn Las Vegas (Nasdaq: WYNN) earned eight awards at the 2026 Southern Nevada Hotel Concierge Association Top Honors Awards, the most of any resort in Las Vegas. The recognitions span across Wynn's dining, nightlife, and entertainment portfolios, including for Awakening, Delilah, Wing Lei, and XS Nightclub.
"These accolades from the concierge community underscore the trust they place in our teams to deliver exceptional moments for guests and visitors," said Brian Gullbrants, COO – Wynn Resorts North America. "It reflects the consistency and care our teams bring to elevating experiences across a diverse range of amenities and resort offerings."
Wynn Las Vegas received awards in the following categories:
Best Production Show: Awakening (third win) Best Supper Club: Delilah at Wynn Las Vegas (fourth consecutive win) Best Seafood Restaurant: PISCES Best Asian Restaurant: Wing Lei (seventh consecutive win) Best Steakhouse: SW Steakhouse Best Golf Course: Wynn Golf Club Best Dayclub: Encore Beach Club (10th consecutive win) Best Nightclub: XS Nightclub (10th consecutive win) Awakening earned Best Production Show honors for the third time. The immersive theatrical experience blends advanced stage technology with dynamic choreography and visual storytelling.
For the fourth consecutive year, Delilah at Wynn Las Vegas was named Best Supper Club. In partnership with h.wood Group, the venue offers a modern interpretation of the classic supper club with live entertainment, a refined dining program, and an atmosphere inspired by the glamour of 1950s Las Vegas showrooms.
PISCES received Best Seafood Restaurant honors. The Mediterranean-inspired restaurant offers a refined interpretation of coastal cuisine and showcases fresh seafood, seasonal ingredients, and whole fish preparations.
For the seventh consecutive year, Wing Lei was named Best Asian Restaurant. The first Chinese restaurant in North America to earn a Forbes Travel Guide Five-Star Award, Wing Lei offers a menu rooted in Cantonese, Shanghai, and Szechuan cuisine.
SW Steakhouse earned the Best Steakhouse recognition. The Forbes Travel Guide award-winning restaurant pairs prime cuts and fresh seafood with exceptional service overlooking the Lake of Dreams.
Wynn Golf Club was recognized as Best Golf Course. Designed by Tom Fazio and the only championship golf course on the Las Vegas Strip, it offers a distinctive resort experience on impeccably-maintained greens and fairways.
On the nightlife front, Encore Beach Club and XS Nightclub were named Best Dayclub and Best Nightclub, respectively – each marking a decade of consecutive wins.
Encore Beach Club and XS Nightclub are recognized as premier daylife and nightlife destinations offering high-energy experiences paired with a roster of globally acclaimed DJ talent which includes The Chainsmokers, Diplo, Kaskade, Hugel, Marshmello, SOFI TUKKER, Mau P, Loud Luxury and more.
ABOUT WYNN LAS VEGAS
Wynn Resorts has the longest-running Forbes Travel Guide Five-Star Awards of all independent hotel companies in the world, and in 2026 was once again honored on FORTUNE Magazine's World's Most Admired Companies list. Wynn and Encore Las Vegas have two luxury hotel towers with a total of 4,748 spacious hotel rooms, suites and villas. The resort features approximately 196,000 square feet of casino space, 22 signature dining experiences, 10 bars, two award-winning spas, approximately 560,000 rentable square feet of meeting and convention space, approximately 174,000 square feet of retail space as well as two showrooms, two nightclubs, a beach club, and recreation and leisure facilities, including Wynn Golf Club, an 18-hole championship golf course. For more information on Wynn and Encore Las Vegas, visit newsroom.wynnresorts.com.
Key Takeaways Wynn Resorts will report Q1 2026 earnings on May 7 after missing estimates in the past four quarters.WYNN's growth is driven by strong Las Vegas demand and rising Macau VIP and mass-market volumes.Revenue gains and cost controls support margins, despite higher expenses and gaming hold variability. Wynn Resorts, Limited (WYNN - Free Report) is scheduled to report first-quarter 2026 results on May 7, after the closing bell.
WYNN’s earnings missed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being negative13.7%.
Trend in the Estimate Revision of WYNNThe Zacks Consensus Estimate for adjusted earnings per share (EPS) has increased to $1.18 from $1.17 over the past 30 days. The estimated figure indicates a 10.3% gain from the year-ago EPS of $1.07.
For revenues, the consensus mark is pegged at nearly $1.80 billion, implying a rise of 5.9% from the prior-year quarter’s figure.
Let's look at how things might have shaped up in the quarter.
Factors Likely to Shape Wynn Resorts’ Q1 ResultsWynn Resorts’ top-line performance in early 2026 is likely to have been supported by sustained strength across its core operating markets, particularly Las Vegas and Macau. In Las Vegas, demand trends remained healthy, with growth in key metrics such as casino volumes, table drop, slot handle and average daily room rates. The company’s strategy of prioritizing higher room rates over occupancy, combined with strong group and convention bookings, helped optimize revenue per available room and overall property monetization.
Additionally, increased spend across gaming, food and beverage, and luxury offerings, driven by affluent customers, contributed meaningfully to revenue growth. The company has also benefited from improved customer targeting, loyalty initiatives and enhanced hosting strategies, which boosted wallet share from high-value guests.
In Macau, robust volume growth was a key revenue driver despite unfavorable hold conditions. VIP turnover surged significantly, while mass-market turnover also increased, reflecting strong demand, particularly in premium segments where Wynn has a competitive edge. This momentum extended into the first quarter, with volumes in early 2026 holding at or above prior-quarter levels. Continued recovery in travel demand, rising premium-customer activity and strategic investments, such as the expansion of high-end gaming and hospitality spaces like the Chairman’s Club, are likely to have further supported top-line expansion. Additionally, steady performance in Encore Boston Harbor, with rising slot revenues and improved visitation trends, added another layer of revenue stability.
Our model predicts revenues from Las Vegas and Macau operations to rise 5.9% and 3.8% year over year to $662.4 million and $898.9 million, respectively, in the first quarter. We expect the Encore Boston Harbor segment’s first-quarter revenues to decline 1% year over year to $207.2 million.
On the bottom line, earnings are likely to have been supported by disciplined cost controls and operating efficiencies across properties. Wynn maintained tight expense management despite inflationary pressures, using targeted cost optimization that did not compromise guest experience. Strong operating leverage from higher volumes, especially in gaming, helped absorb fixed costs, while premium pricing strategies in Las Vegas boosted margins.
Furthermore, the company’s focus on high-value customers and data-driven reinvestment strategies has improved revenue quality and profitability. However, margins are likely to have been partially influenced by factors like gaming hold variability and incremental operating costs tied to higher business volumes, though underlying profitability remained resilient.
Our model predicts first-quarter total operating expenses to rise 6.6% year over year to $1.52 billion.
What Our Model Says About WYNN StockOur proven model predicts an earnings beat for Wynn Resorts this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is exactly the case here.
WYNN’s Earnings ESP: Wynn Resorts has an Earnings ESP of +4.51%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Wynn Resorts’ Zacks Rank: The company sports a Zacks Rank #3 at present.
Other Stocks Poised to Beat on EarningsHere are some other stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that these, too, have the right combination of elements to post an earnings beat.
Hasbro (HAS - Free Report) has an Earnings ESP of +5.81% and a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the to-be-reported quarter, Hasbro’s earnings are expected to increase 4.8%. Hasbro’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 43.9%.
Corsair Gaming, Inc. (CRSR - Free Report) currently has an Earnings ESP of +1.89% and a Zacks Rank of 3.
In the to-be-reported quarter, CRSR’s earnings are expected to increase 63.6%. Corsair Gaming's earnings beat the Zacks Consensus Estimate in one of the trailing four quarters, missed twice and met once, with an average surprise of 6.3%.
Expedia Group, Inc. (EXPE - Free Report) currently has an Earnings ESP of +10.04% and a Zacks Rank of 3.
In the to-be-reported quarter, Expedia’s earnings are expected to surge 252.5%. Expedia’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed on one occasion, the average surprise being 3%.
, /PRNewswire/ -- Wynn Resorts, a global leader in luxury hospitality, today announced the release of its 2025 Environmental, Social and Governance (ESG) Report and Executive Overview, detailing the Company's environmental sustainability, workforce development and community impact initiatives across its North American operations.
The Wynn Resorts ESG Report 2025 highlights continued investment in employee development, measurable improvements in environmental performance and record-setting philanthropic contributions.
"Our progress as a company is grounded in the values our employees bring to life every day," said Craig S. Billings, CEO of Wynn Resorts. "We believe that doing good and doing well are one and the same, and that commitment is reflected in how we support our people, engage with our communities and operate our business with care, dignity and respect."
Guided by its ESG pillars—Our People, Our Communities and Our Planet—Wynn Resorts focused on the following priorities in 2025:
Empowering Our People
Wynn Resorts continued to invest in its global workforce through employee recognition, education and professional development. Wynn Las Vegas marked its 20th anniversary by awarding stock grants to eligible employees based on years of service, recognizing long-term contributions to the Company's success.
Through Wynn University, employees gained access to leadership training and career development programs in partnership with leading institutions including the University of Nevada, Las Vegas and Boston University. The Wynn Resorts Foundation Scholarship Program reached a milestone of more than $1.4 million awarded to over 110 students since its inception in 2018.
Strengthening Communities
In 2025, Wynn Resorts contributed more than $20.6 million in cash donations and $2.6 million in in-kind support to nonprofit organizations across North America.
Through the Wynn Resorts Foundation, employee-led fundraising generated $1.4 million, with participation from more than 2,600 employees supporting over 300 nonprofit organizations and community initiatives.
Wynn Resorts also celebrated the groundbreaking of Campus for Hope, a public-private partnership in Southern Nevada focused on addressing homelessness through housing, healthcare, job training and social services.
Additionally, Wynn Resorts employees and community partners packaged more than 2.2 million meals in 2025, bringing the total meals packed through its partnership with The Pack Shack to more than 8 million meals since 2018.
Advancing Environmental Stewardship
Wynn Resorts continues to make progress toward its environmental sustainability goals, including:
Peaking operational carbon emissions by 2030 Achieving net-zero emissions by 2050 Increasing renewable electricity procurement to 50 percent of North American consumption by 2030 Waste reduction initiatives also advanced across properties. In 2025:
Wynn Las Vegas diverted 49 percent of waste from landfills Encore Boston Harbor diverted 57 percent through recycling and composting programs The Wynn Resorts ESG Report 2025 aligns with select Global Reporting Initiative (GRI) Standards and Sustainability Accounting Standards Board (SASB) frameworks, providing a comprehensive overview of the Company's environmental, social and governance performance, employee initiatives and long-term sustainability commitments.
The full 2025 Wynn Resorts ESG Report and Executive Overview are available at: https://www.wynnresorts.com/esg/reports.
About Wynn Resorts
Wynn Resorts, Limited, is traded on the Nasdaq Global Select Market under the ticker symbol WYNN and is part of the S&P 500 Index. Wynn Resorts (wynnresorts.com) owns and operates Wynn Las Vegas (wynnlasvegas.com), Wynn Mayfair in London (wynnmayfair.com), and operates Encore Boston Harbor (encorebostonharbor.com). It is the majority shareholder of Wynn Macau, Limited, which is listed on the HKSE (1128.HK), and includes Wynn Macau (wynnmacau.com) and Wynn Palace in Cotai (wynnpalace.com). The Company, along with its equity partner Marjan, is constructing an Integrated Resort in Ras Al Khaimah, United Arab Emirates, set to open in early 2027.
Wynn and Encore Las Vegas consist of two luxury hotel towers with a total of 4,748 spacious hotel rooms, suites, and villas. The resort features 22 signature dining experiences, 10 bars, two award-winning spas, meeting and convention space, three shopping esplanades, as well as two showrooms, two nightclubs, a beach club, and Wynn Golf Club, an 18-hole championship golf course.
Encore Boston Harbor is a luxury resort destination featuring 671 hotel rooms and suites, an ultra-premium spa, fourteen dining and lounge venues, a nightclub, and a state-of-the-art ballroom and meeting spaces. Situated on the waterfront along the Mystic River in Everett, Massachusetts, the resort has a six-acre public park and Harborwalk.
Wynn Macau is a luxury hotel and casino resort located in the Macau Special Administrative Region of the People's Republic of China with two luxury hotel towers with a total of 1,010 spacious rooms, meeting and convention space, a shopping esplanade, two opulent spas, a salon and two public entertainment experiences.
Wynn Palace is a luxury resort in Macau. Designed as a floral-themed destination, it boasts 1,706 exquisite rooms, suites and villas, 14 food and beverage outlets, meeting and convention space, an expansive boutique shopping esplanade, SkyCabs that traverse an eight-acre Performance Lake, an extensive collection of rare art, a spa and salon.
Wynn Mayfair is a historic private members' club in the heart of London's celebrated Mayfair district, blending the best of gaming and dining in an elegant, convivial environment. Popular games such as Baccarat, Blackjack, and American Roulette are played in sumptuously appointed private salons, while fine dining, imaginative cocktails, and exceptional spirits are enjoyed in the Dining Room and Bar and social spaces that include the club's open-air rooftop terrace.
Wynn Al Marjan Island will be the first integrated resort in the United Arab Emirates. Set to open in 2027, the resort is located less than 50 miles from Dubai International Airport in the emirate of Ras Al Khaimah. Wynn Resorts is developing the project with its equity partner Marjan. It will offer 1,530 rooms and well-appointed suites, as well as 22 restaurants, lounges, and bars, a theater, a nightclub, and a beach club adjacent to the Arabian Gulf. Wynn Al Marjan Island will feature an extensive poolscape with tropical landscaping, a five-star spa, and a salon. The resort will have its own marina with 118 berths to accommodate luxury yachts, a 15,000-square-meter shopping promenade filled with the world's top luxury boutiques, and a 7,500-square-meter celebrations and events center.
Media Contact
Public Relations, Wynn Las Vegas
702-770-2120
[email protected]
, /PRNewswire/ -- Wynn Resorts, Limited (NASDAQ: WYNN) ("Wynn Resorts" or the "Company") today reported financial results for the first quarter ended March 31, 2026.
Operating revenues were $1.86 billion for the first quarter of 2026, an increase of $156.4 million from $1.70 billion for the first quarter of 2025. Net income attributable to Wynn Resorts, Limited was $120.5 million for the first quarter of 2026, compared to net income attributable to Wynn Resorts, Limited of $72.7 million for the first quarter of 2025. Diluted net income per share was $1.04 for the first quarter of 2026, compared to diluted net income per share of $0.69 for the first quarter of 2025. Adjusted Property EBITDAR(1) was $562.4 million for the first quarter of 2026, compared to Adjusted Property EBITDAR of $532.9 million for the first quarter of 2025.
"Our first quarter results reflect the strength of Wynn's business across all of our markets," said Craig Billings, CEO of Wynn Resorts, Limited. "Las Vegas delivered another quarter of EBITDAR growth and continued to make gains in gaming market share. In Macau, we saw a meaningful increase in gaming volumes year-over-year alongside healthy market share, and we were pleased to increase the dividend from Wynn Macau, Limited — a reflection of the strong free cash flow the business is generating. Construction on Wynn Al Marjan Island continues to progress, and we are closely monitoring the broader situation in the Gulf region while taking additional precautions to ensure the safety and well-being of our team on the ground. We also continued to return capital to shareholders through our regular quarterly dividend and the repurchase of $54 million of stock in the quarter."
Consolidated Results
Operating revenues were $1.86 billion for the first quarter of 2026, an increase of $156.4 million from $1.70 billion for the first quarter of 2025. For the first quarter of 2026, operating revenues increased $123.4 million and $36.6 million at Wynn Palace and our Las Vegas Operations, respectively, and decreased $3.6 million at Encore Boston Harbor, from the first quarter of 2025. Operating revenues at Wynn Macau for the first quarter of 2026 were in line with the first quarter of 2025.
Net income attributable to Wynn Resorts, Limited was $120.5 million for the first quarter of 2026, compared to net income attributable to Wynn Resorts, Limited of $72.7 million for the first quarter of 2025. Diluted net income per share was $1.04 for the first quarter of 2026, compared to diluted net income per share of $0.69 for the first quarter of 2025. Adjusted net income attributable to Wynn Resorts, Limited(2) was $129.7 million, or $1.25 per diluted share, for the first quarter of 2026, compared to adjusted net income attributable to Wynn Resorts, Limited of $113.1 million, or $1.07 per diluted share, for the first quarter of 2025.
Adjusted Property EBITDAR was $562.4 million for the first quarter of 2026, an increase of $29.5 million compared to Adjusted Property EBITDAR of $532.9 million for the first quarter of 2025. For the first quarter of 2026, Adjusted Property EBITDAR increased $41.9 million and $9.1 million at Wynn Palace and our Las Vegas Operations, respectively, and decreased $14.6 million and $6.9 million at Wynn Macau and Encore Boston Harbor, respectively, from the first quarter of 2025.
Wynn Resorts, Limited also announced today that its Board of Directors has declared a cash dividend of $0.25 per share, payable on May 29, 2026 to stockholders of record as of May 18, 2026.
Property Results
Macau Operations
Wynn Palace
Operating revenues from Wynn Palace were $659.3 million for the first quarter of 2026, an increase of $123.4 million from $535.9 million for the first quarter of 2025. Adjusted Property EBITDAR from Wynn Palace was $203.8 million for the first quarter of 2026, compared to $161.9 million for the first quarter of 2025. Table games win percentage in mass market operations was 26.6%, above the 24.8% experienced in the first quarter of 2025. VIP table games win as a percentage of turnover was 3.11%, within the property's expected range of 3.1% to 3.4% and above the 2.61% experienced in the first quarter of 2025.
Wynn Macau
Operating revenues from Wynn Macau were $329.9 million for the first quarter of 2026, in line with $330.0 million for the first quarter of 2025. Adjusted Property EBITDAR from Wynn Macau was $75.6 million for the first quarter of 2026, compared to $90.2 million for the first quarter of 2025. Table games win percentage in mass market operations was 15.1%, below the 18.7% experienced in the first quarter of 2025. VIP table games win as a percentage of turnover was 0.39%, below the property's expected range of 3.1% to 3.4% and below the 1.09% experienced in the first quarter of 2025.
Las Vegas Operations
Operating revenues from our Las Vegas Operations were $661.9 million for the first quarter of 2026, an increase of $36.6 million from $625.3 million for the first quarter of 2025. Adjusted Property EBITDAR from our Las Vegas Operations for the first quarter of 2026 was $232.5 million, compared to $223.4 million for the first quarter of 2025. Table games win percentage for the first quarter of 2026 was 25.2%, within the property's expected range of 22% to 26% and above the 24.3% experienced in the first quarter of 2025.
Encore Boston Harbor
Operating revenues from Encore Boston Harbor were $205.7 million for the first quarter of 2026, a decrease of $3.6 million from $209.2 million for the first quarter of 2025. Adjusted Property EBITDAR from Encore Boston Harbor for the first quarter of 2026 was $50.5 million, compared to $57.5 million for the first quarter of 2025. Table games win percentage for the first quarter of 2026 was 20.2%, within the property's expected range of 18% to 22% and slightly below the 20.5% experienced in the first quarter of 2025.
Wynn Al Marjan Island Development
During the first quarter of 2026, the Company contributed $100.1 million of cash to the 40%-owned joint venture that is constructing the Wynn Al Marjan Island development in the UAE, bringing our life-to-date cash contributions to the project to $1.01 billion. Wynn Al Marjan Island is currently expected to open in 2027.
Balance Sheet
Our cash and cash equivalents as of March 31, 2026 totaled $1.19 billion, excluding $607.6 million of short-term investments held by Wynn Macau, Limited ("WML"). Cash and cash equivalents is comprised of $850.9 million held by WML and subsidiaries, $212.1 million held by Wynn Resorts Finance, LLC ("WRF") and subsidiaries excluding WML, and $124.6 million held at Corporate and other. As of March 31, 2026, the available borrowing capacity under the WRF Revolver and the WM Cayman II Revolver was $1.24 billion and $1.35 billion, respectively.
Total current and long-term debt outstanding at March 31, 2026 was $10.52 billion, comprised of $5.76 billion of Macau related debt, $877.2 million of Wynn Las Vegas debt, $3.28 billion of WRF debt, and $598.6 million of debt held by the retail joint venture which we consolidate.
Equity Repurchase Program
During the first quarter of 2026, the Company repurchased 528,667 shares of its common stock under its publicly announced equity repurchase program at an average price of $101.72 per share, for an aggregate cost of $53.8 million. As of March 31, 2026, the Company had $401.1 million in repurchase authority remaining under the equity repurchase program.
Conference Call and Other Information
The Company will hold a conference call to discuss its results, including the results of Wynn Resorts Finance, LLC and Wynn Las Vegas, LLC, on May 7, 2026 at 1:30 p.m. PT (4:30 p.m. ET). Interested parties are invited to join the call by accessing a live audio webcast at http://www.wynnresorts.com. On or before May 15, 2026, the Company will make Wynn Resorts Finance, LLC and Wynn Las Vegas, LLC financial information for the quarter ended March 31, 2026 available to noteholders, prospective investors, broker-dealers and securities analysts. Please contact our investor relations office at 702-770-7555 or at [email protected], to obtain access to such financial information.
Forward-looking Statements
This release contains forward-looking statements regarding operating trends and future results of operations. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those we express in these forward-looking statements, including, but not limited to, reductions in discretionary consumer spending, adverse macroeconomic conditions and their impact on levels of disposable consumer income and wealth, changes in interest rates, inflation, a decline in general economic activity or recession in the U.S. and/or global economies, extensive regulation of our business, pending or future legal proceedings, ability to maintain gaming licenses and concessions, dependence on key employees, geopolitical conflicts, adverse tourism trends, travel disruptions caused by events outside of our control, dependence on a limited number of resorts, competition in the casino/hotel and resort industries, uncertainties over the development and success of new gaming and resort properties, construction and regulatory risks associated with current and future projects (including Wynn Al Marjan Island), cybersecurity risk and our leverage and ability to meet our debt service obligations. Additional information concerning potential factors that could affect the Company's financial results is included in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, as supplemented by the Company's other periodic reports filed with the Securities and Exchange Commission from time to time. The Company is under no obligation to (and expressly disclaims any such obligation to) update or revise its forward-looking statements as a result of new information, future events or otherwise, except as required by law.
Non-GAAP Financial Measures
(1) "Adjusted Property EBITDAR" is net income before interest, income taxes, depreciation and amortization, pre-opening expenses, property charges and other expenses, triple-net operating lease rent expense related to Encore Boston Harbor, management and license fees, corporate expenses and other expenses (including intercompany golf course, meeting and convention, and water rights leases), stock-based compensation, change in derivatives fair value, and other non-operating income and expenses. Adjusted Property EBITDAR is presented exclusively as a supplemental disclosure because management believes that it is widely used to measure the performance, and as a basis for valuation, of gaming companies. Management uses Adjusted Property EBITDAR as a measure of the operating performance of its segments and to compare the operating performance of its properties with those of its competitors, as well as a basis for determining certain incentive compensation. We also present Adjusted Property EBITDAR because it is used by some investors to measure a company's ability to incur and service debt, make capital expenditures and meet working capital requirements. Gaming companies have historically reported EBITDAR as a supplement to GAAP. In order to view the operations of their casinos on a more stand-alone basis, gaming companies, including us, have historically excluded from their EBITDAR calculations pre-opening expenses, property charges, corporate expenses and stock-based compensation, that do not relate to the management of specific casino properties. However, Adjusted Property EBITDAR should not be considered as an alternative to operating income (loss) as an indicator of our performance, as an alternative to cash flows from operating activities as a measure of liquidity, or as an alternative to any other measure determined in accordance with GAAP. Unlike net income, Adjusted Property EBITDAR does not include depreciation or interest expense and therefore does not reflect current or future capital expenditures or the cost of capital. We have significant uses of cash flows, including capital expenditures, triple-net operating lease rent expense related to Encore Boston Harbor, interest payments, debt principal repayments, income taxes and other non-recurring charges, which are not reflected in Adjusted Property EBITDAR. Also, our calculation of Adjusted Property EBITDAR may be different from the calculation methods used by other companies and, therefore, comparability may be limited.
(2) "Adjusted net income attributable to Wynn Resorts, Limited" is net income attributable to Wynn Resorts, Limited before pre-opening expenses, property charges and other expenses, change in derivatives fair value, foreign currency remeasurement and other, and income taxes calculated using the specific tax treatment applicable to the adjustments based on their respective jurisdictions. Adjusted net income attributable to Wynn Resorts, Limited and adjusted net income attributable to Wynn Resorts, Limited per diluted share are presented as supplemental disclosures to financial measures in accordance with GAAP because management believes that these non-GAAP financial measures are widely used to measure the performance, and as a principal basis for valuation, of gaming companies. These measures are used by management and/or evaluated by some investors, in addition to net income per share computed in accordance with GAAP, as an additional basis for assessing period-to-period results of our business. Adjusted net income attributable to Wynn Resorts, Limited and adjusted net income attributable to Wynn Resorts, Limited per diluted share may be different from the calculation methods used by other companies and, therefore, comparability may be limited.
The Company has included schedules in the tables that accompany this release that reconcile (i) net income attributable to Wynn Resorts, Limited to adjusted net income attributable to Wynn Resorts, Limited, (ii) operating income (loss) to Adjusted Property EBITDAR, and (iii) net income attributable to Wynn Resorts, Limited to Adjusted Property EBITDAR.
WYNN RESORTS, LIMITED AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
Three Months Ended
March 31,
2026
2025
Operating revenues:
Casino
$ 1,177,233
$ 1,040,430
Rooms
290,381
274,521
Food and beverage
259,019
249,879
Entertainment, retail and other
130,129
135,567
Total operating revenues
1,856,762
1,700,397
Operating expenses:
Casino
732,670
634,833
Rooms
89,791
84,097
Food and beverage
228,822
200,667
Entertainment, retail and other
59,713
62,186
General and administrative
275,204
275,689
Provision for credit losses
4,057
1,396
Pre-opening
11,745
5,287
Depreciation and amortization
160,527
155,421
Property charges and other
11,629
12,232
Total operating expenses
1,574,158
1,431,808
Operating income
282,604
268,589
Other income (expense):
Interest income
13,092
19,359
Interest expense, net of amounts capitalized
(152,362)
(157,608)
Change in derivatives fair value
46,770
(29,539)
Other
(29,434)
(8,374)
Other income (expense), net
(121,934)
(176,162)
Income before income taxes
160,670
92,427
Provision for income taxes
(10,132)
(11,022)
Net income
150,538
81,405
Less: net income attributable to noncontrolling interests
(30,084)
(8,658)
Net income attributable to Wynn Resorts, Limited
$ 120,454
$ 72,747
Basic and diluted net income per common share:
Net income attributable to Wynn Resorts, Limited:
Basic
$ 1.17
$ 0.69
Diluted
$ 1.04
$ 0.69
Weighted average common shares outstanding:
Basic
103,084
105,492
Diluted
103,800
105,730
WYNN RESORTS, LIMITED AND SUBSIDIARIES
RECONCILIATION OF NET INCOME ATTRIBUTABLE TO WYNN RESORTS, LIMITED
TO ADJUSTED NET INCOME ATTRIBUTABLE TO WYNN RESORTS, LIMITED
(in thousands, except per share data)
(unaudited)
Three Months Ended
March 31,
2026
2025
Net income attributable to Wynn Resorts, Limited
$ 120,454
$ 72,747
Pre-opening expenses
11,745
5,287
Property charges and other
11,629
12,232
Change in derivatives fair value
(46,770)
29,539
Foreign currency remeasurement and other
29,434
8,374
Income tax impact on adjustments
(1,130)
(1,676)
Noncontrolling interests impact on adjustments
4,370
(13,358)
Adjusted net income attributable to Wynn Resorts, Limited
$ 129,732
$ 113,145
Adjusted net income attributable to Wynn Resorts, Limited per diluted share
$ 1.25
$ 1.07
Weighted average common shares outstanding - diluted
103,800
105,730
WYNN RESORTS, LIMITED AND SUBSIDIARIES
RECONCILIATION OF OPERATING INCOME (LOSS) TO ADJUSTED PROPERTY EBITDAR
(in thousands)
(unaudited)
Three Months Ended March 31, 2026
Wynn
Palace
Wynn
Macau
Other
Macau
Total
Macau
Operations
Las Vegas
Operations
Encore
Boston
Harbor
Corporate
and Other
Total
Operating income (loss)
$ 112,790
$ 40,972
$ (8,499)
$ 145,263
$ 112,833
$ (14,038)
$ 38,546
$ 282,604
Pre-opening expenses
662
—
—
662
3,560
—
7,523
11,745
Depreciation and amortization
61,233
20,373
398
82,004
60,775
14,451
3,297
160,527
Property charges and other
3,910
195
7
4,112
4,659
2,483
375
11,629
Management and license fees
21,306
10,098
—
31,404
31,030
9,949
(72,383)
—
Corporate expenses and other
2,545
2,669
7,292
12,506
8,107
1,833
12,364
34,810
Stock-based compensation
1,376
1,309
802
3,487
11,496
477
10,278
25,738
Triple-net operating lease rent expense
—
—
—
—
—
35,364
—
35,364
Adjusted Property EBITDAR
$ 203,822
$ 75,616
$ —
$ 279,438
$ 232,460
$ 50,519
$ —
$ 562,417
Three Months Ended March 31, 2025
Wynn
Palace
Wynn
Macau
Other
Macau
Total
Macau
Operations
Las Vegas
Operations
Encore
Boston
Harbor
Corporate
and Other
Total
Operating income (loss)
$ 82,565
$ 52,742
$ (8,159)
$ 127,148
$ 116,079
$ (10,735)
$ 36,097
$ 268,589
Pre-opening expenses
1,200
—
—
1,200
760
—
3,327
5,287
Depreciation and amortization
56,437
19,224
398
76,059
62,628
13,966
2,768
155,421
Property charges and other
708
4,206
6
4,920
702
5,516
1,094
12,232
Management and license fees
17,500
10,373
—
27,873
29,323
10,141
(67,337)
—
Corporate expenses and other
2,206
2,315
6,750
11,271
7,894
1,688
15,728
36,581
Stock-based compensation
1,269
1,339
1,005
3,613
5,975
1,489
8,323
19,400
Triple-net operating lease rent expense
—
—
—
—
—
35,389
—
35,389
Adjusted Property EBITDAR
$ 161,885
$ 90,199
$ —
$ 252,084
$ 223,361
$ 57,454
$ —
$ 532,899
WYNN RESORTS, LIMITED AND SUBSIDIARIES
RECONCILIATION OF NET INCOME ATTRIBUTABLE TO WYNN RESORTS, LIMITED TO
ADJUSTED PROPERTY EBITDAR
(in thousands)
(unaudited)
Three Months Ended
March 31,
2026
2025
Net income attributable to Wynn Resorts, Limited
$ 120,454
$ 72,747
Net income attributable to noncontrolling interests
30,084
8,658
Pre-opening expenses
11,745
5,287
Depreciation and amortization
160,527
155,421
Property charges and other
11,629
12,232
Triple-net operating lease rent expense
35,364
35,389
Corporate expenses and other
34,810
36,581
Stock-based compensation
25,738
19,400
Interest income
(13,092)
(19,359)
Interest expense, net of amounts capitalized
152,362
157,608
Change in derivatives fair value
(46,770)
29,539
Other
29,434
8,374
Provision for income taxes
10,132
11,022
Adjusted Property EBITDAR
$ 562,417
$ 532,899
WYNN RESORTS, LIMITED AND SUBSIDIARIES
SUPPLEMENTAL DATA SCHEDULE
(dollars in thousands, except for win per unit per day, ADR and REVPAR)
(unaudited)
Three Months Ended
March 31,
2026
2025
Percent
Change
Wynn Palace Supplemental Information
Operating revenues
Casino
$ 564,917
$ 444,508
27.1
Rooms
37,634
36,615
2.8
Food and beverage
33,035
31,738
4.1
Entertainment, retail and other
23,752
23,068
3.0
Total
$ 659,338
$ 535,929
23.0
Adjusted Property EBITDAR (6)
$ 203,822
$ 161,885
25.9
Casino statistics:
VIP:
Average number of table games
50
55
(9.1)
VIP turnover
$ 4,316,314
$ 4,005,041
7.8
VIP table games win (1)
$ 134,242
$ 104,532
28.4
VIP table games win as a % of turnover
3.11 %
2.61 %
Table games win per unit per day
$ 29,739
$ 21,096
41.0
Mass market:
Average number of table games
275
247
11.3
Table drop (2)
$ 1,971,051
$ 1,704,398
15.6
Table games win (1)
$ 523,796
$ 422,392
24.0
Table games win %
26.6 %
24.8 %
Table games win per unit per day
$ 21,182
$ 18,968
11.7
Average number of slot machines
724
650
11.4
Slot machine handle
$ 860,523
$ 734,869
17.1
Slot machine win (3)
$ 35,456
$ 29,356
20.8
Slot machine win per unit per day
$ 544
$ 502
8.4
Room statistics:
Occupancy
99.1 %
98.3 %
ADR (4)
$ 230
$ 222
3.6
REVPAR (5)
$ 228
$ 218
4.6
WYNN RESORTS, LIMITED AND SUBSIDIARIES
SUPPLEMENTAL DATA SCHEDULE
(dollars in thousands, except for win per unit per day, ADR and REVPAR)
(unaudited) (continued)
Three Months Ended
March 31,
2026
2025
Percent
Change
Wynn Macau Supplemental Information
Operating revenues
Casino
$ 276,732
$ 275,550
0.4
Rooms
21,320
23,297
(8.5)
Food and beverage
19,270
18,792
2.5
Entertainment, retail and other
12,530
12,321
1.7
Total
$ 329,852
$ 329,960
—
Adjusted Property EBITDAR (6)
$ 75,616
$ 90,199
(16.2)
Casino statistics:
VIP:
Average number of table games
12
30
(60.0)
VIP turnover
$ 585,886
$ 1,437,047
(59.2)
VIP table games win (1)
$ 2,278
$ 15,714
(85.5)
VIP table games win as a % of turnover
0.39 %
1.09 %
Table games win per unit per day
$ 2,082
$ 5,912
(64.8)
Mass market:
Average number of table games
219
221
(0.9)
Table drop (2)
$ 1,903,561
$ 1,542,885
23.4
Table games win (1)
$ 288,126
$ 288,549
(0.1)
Table games win %
15.1 %
18.7 %
Table games win per unit per day
$ 14,603
$ 14,520
0.6
Average number of slot machines
909
729
24.7
Slot machine handle
$ 1,239,093
$ 853,407
45.2
Slot machine win (3)
$ 36,212
$ 24,367
48.6
Slot machine win per unit per day
$ 442
$ 372
18.8
Room statistics:
Occupancy
99.7 %
99.1 %
ADR (4)
$ 223
$ 234
(4.7)
REVPAR (5)
$ 222
$ 232
(4.3)
WYNN RESORTS, LIMITED AND SUBSIDIARIES
SUPPLEMENTAL DATA SCHEDULE
(dollars in thousands, except for win per unit per day, ADR and REVPAR)
(unaudited) (continued)
Three Months Ended
March 31,
2026
2025
Percent
Change
Las Vegas Operations Supplemental Information
Operating revenues
Casino
$ 178,191
$ 160,993
10.7
Rooms
212,561
195,868
8.5
Food and beverage
188,728
179,442
5.2
Entertainment, retail and other
82,429
88,982
(7.4)
Total
$ 661,909
$ 625,285
5.9
Adjusted Property EBITDAR (6)
$ 232,460
$ 223,361
4.1
Casino statistics:
Average number of table games
241
236
2.1
Table drop (2)
$ 685,300
$ 592,527
15.7
Table games win (1)
$ 172,406
$ 144,061
19.7
Table games win %
25.2 %
24.3 %
Table games win per unit per day
$ 7,939
$ 6,774
17.2
Average number of slot machines
1,574
1,590
(1.0)
Slot machine handle
$ 1,815,479
$ 1,778,087
2.1
Slot machine win (3)
$ 120,334
$ 123,244
(2.4)
Slot machine win per unit per day
$ 849
$ 861
(1.4)
Poker rake
$ 3,799
$ 4,332
(12.3)
Room statistics:
Occupancy
85.5 %
87.4 %
ADR (4)
$ 592
$ 527
12.3
REVPAR (5)
$ 506
$ 461
9.8
WYNN RESORTS, LIMITED AND SUBSIDIARIES
SUPPLEMENTAL DATA SCHEDULE
(dollars in thousands, except for win per unit per day, ADR, and REVPAR)
(unaudited) (continued)
Three Months Ended
March 31,
2026
2025
Percent
Change
Encore Boston Harbor Supplemental Information
Operating revenues
Casino
$ 157,393
$ 159,379
(1.2)
Rooms
18,866
18,741
0.7
Food and beverage
17,986
19,907
(9.6)
Entertainment, retail and other
11,418
11,196
2.0
Total
$ 205,663
$ 209,223
(1.7)
Adjusted Property EBITDAR (6)
$ 50,519
$ 57,454
(12.1)
Casino statistics:
Average number of table games
172
172
—
Table drop (2)
$ 324,276
$ 340,062
(4.6)
Table games win (1)
$ 65,423
$ 69,883
(6.4)
Table games win %
20.2 %
20.5 %
Table games win per unit per day
$ 4,226
$ 4,514
(6.4)
Average number of slot machines
2,783
2,717
2.4
Slot machine handle
$ 1,345,079
$ 1,357,199
(0.9)
Slot machine win (3)
$ 109,580
$ 107,482
2.0
Slot machine win per unit per day
$ 437
$ 439
(0.5)
Poker rake
$ 5,374
$ 5,642
(4.8)
Room statistics:
Occupancy
85.8 %
88.1 %
ADR (4)
$ 366
$ 357
2.5
REVPAR (5)
$ 314
$ 315
(0.3)
(1)
Table games win is shown before discounts, commissions and the allocation of casino revenues to rooms, food and beverage and other revenues for services provided to casino customers on a complimentary basis.
(2)
In Macau, table drop is the amount of cash that is deposited in a gaming table's drop box plus cash chips purchased at the casino cage. In Las Vegas, table drop is the amount of cash and net markers issued that are deposited in a gaming table's drop box. At Encore Boston Harbor, table drop is the amount of cash and gross markers that are deposited in a gaming table's drop box.
(3)
Slot machine win is calculated as gross slot machine win minus progressive accruals and free play.
(4)
ADR is average daily rate and is calculated by dividing total room revenues including complimentaries (less service charges, if any) by total rooms occupied.
(5)
REVPAR is revenue per available room and is calculated by dividing total room revenues including complimentaries (less service charges, if any) by total rooms available.
(6)
Refer to accompanying reconciliations of Operating Income (Loss) to Adjusted Property EBITDAR and Net Income Attributable to Wynn Resorts, Limited to Adjusted Property EBITDAR.
Wynn Resorts (WYNN - Free Report) came out with quarterly earnings of $1.25 per share, beating the Zacks Consensus Estimate of $1.18 per share. This compares to earnings of $1.07 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +6.21%. A quarter ago, it was expected that this casino operator would post earnings of $1.33 per share when it actually produced earnings of $1.17, delivering a surprise of -12.03%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
Wynn, which belongs to the Zacks Gaming industry, posted revenues of $1.86 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 2.21%. This compares to year-ago revenues of $1.7 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.
Wynn shares have lost about 10.6% since the beginning of the year versus the S&P 500's gain of 7.6%.
What's Next for Wynn?While Wynn 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 Wynn 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 $1.25 on $1.81 billion in revenues for the coming quarter and $4.93 on $7.45 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, Gaming is currently in the top 41% 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, Super League Enterprise (SLE - Free Report) , is yet to report results for the quarter ended March 2026. The results are expected to be released on May 15.
This company is expected to post quarterly loss of $2.64 per share in its upcoming report, which represents a year-over-year change of +97.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Super League Enterprise's revenues are expected to be $2.9 million, up 6.6% from the year-ago quarter.
For the quarter ended March 2026, Wynn Resorts (WYNN - Free Report) reported revenue of $1.86 billion, up 9.2% over the same period last year. EPS came in at $1.25, compared to $1.07 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.82 billion, representing a surprise of +2.21%. The company delivered an EPS surprise of +6.21%, with the consensus EPS estimate being $1.18.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Wynn performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Table Drop - Las Vegas Operations: $685.3 million compared to the $625.06 million average estimate based on four analysts.Table Games Win - Las Vegas Operations: $172.41 million versus the four-analyst average estimate of $149.6 million.Slot Machine Win - Las Vegas Operations: $120.33 million versus $124.12 million estimated by four analysts on average.Vip Table Games Win - Macau Operations - Wynn Palace - VIP: $134.24 million versus $131.92 million estimated by three analysts on average.Operating revenues- Encore Boston Harbor: $205.66 million compared to the $207.9 million average estimate based on five analysts. The reported number represents a change of -1.7% year over year.Operating revenues- Las Vegas Operations: $661.91 million compared to the $638.44 million average estimate based on five analysts. The reported number represents a change of +5.9% year over year.Operating revenues- Wynn Macau: $329.85 million versus $356.54 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a 0% change.Operating revenues- Wynn Palace: $659.34 million compared to the $613.22 million average estimate based on four analysts. The reported number represents a change of +23% year over year.Operating revenues- Las Vegas Operations- Casino: $178.19 million versus the three-analyst average estimate of $171.32 million. The reported number represents a year-over-year change of +10.7%.Operating revenues- Encore Boston Harbor- Casino: $157.39 million versus $159.9 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -1.3% change.Operating revenues- Las Vegas Operations- Rooms: $212.56 million versus $199.58 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +8.5% change.Operating revenues- Las Vegas Operations- Food and beverage: $188.73 million versus $187.57 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +5.2% change.View all Key Company Metrics for Wynn here>>>
Shares of Wynn have returned +2.2% over the past month versus the Zacks S&P 500 composite's +11.4% 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.
Wynn Resorts delivered solid 1Q26 top-line and EBITDAR growth in Las Vegas and Macau, but margin pressure persists amid heightened Macau competition. Margins declined year-over-year across all properties, with Macau EBITDAR margins falling 90 bps and overall group margins down 100 bps to 30.3%. Intense promotional activity and new premium supply in Macau are expected to constrain margin upside and limit near-term share price catalysts.
U.S.-Iran peace deal hopes and strong April jobs data are driving stocks higher this afternoon, with the Nasdaq Composite (IXIC) and S&P 500 Index (SPX) both hitting more record highs as they head for their sixth-straight weekly gains. The Dow Jones Industrial Average (DJI) is modestly higher, on track for a weekly win as well. This morning's nonfarm payrolls reading saw an increase of 115,000 jobs last month, far beyond estimates of 84,000.
Coinbase Global stock slips on job cuts. Revenue, contract buzz triggers Rocket Lab stock surge. Plus, call traders circle casino name; golf stock's post-earnings; AI efforts trigger mass layoffs for NET.
Casino name Wynn Resorts Ltd (NASDAQ:WYNN) stock is trading 4.9% lower at $101.60 this afternoon, adding to its more than 15% year-to-date deficit despite posting a Q1 beat. Overhead pressure has stemmed from its 80-day moving average and options traders have been anything but shy after the report. So far today 33,000 calls have crossed the tape, 32 times the average intraday pace and over 22 times the number of puts traded. Most popular are the September and June 90 calls.
Calloway Golf Co (NYSE:CALY) is one of the top stocks on the New York Stock Exchange (NYSE) today, up 19.2% to trade at $17.58, a nearly three-year high of $17.01. The golfing giant posted an impressive first-quarter earnings and revenue beat, now adding to its 2026 gain of 50%. CALY is eyeing its best day since June 9.
One of the worst NYSE stocks this afternoon is Cloudflare Inc (NYSE:NET), last seen down 25% to trade at $193.70, brushing off a first-quarter earnings and revenue beat after the company said it will be cutting about 20% of its workforce to enhance its AI efforts. Today's bear gap has sent NET below its year-to-date breakeven level.
Key Takeaways WYNN posted Q1 adjusted EPS of $1.25 and revenues of $1.86B, beating estimates; both rose YoY.WYNN Palace revenues jumped to $659.3M and EBITDAR to $203.8M on broad-based casino gains.Las Vegas revenues rose to $661.9M with EBITDAR up, while Encore Boston Harbor and Wynn Macau EBITDAR fell. Wynn Resorts, Limited (WYNN - Free Report) reported first-quarter 2026 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis.
Management noted the company’s strength across markets. Las Vegas delivered another quarter of EBITDAR growth and continued gains in gaming market share, while Macau saw a meaningful increase in gaming volumes year over year alongside healthy market share.
WYNN’s Q1 Earnings & RevenuesThe company reported adjusted earnings per share (EPS) of $1.25, beating the Zacks Consensus Estimate of $1.18 by 5.9%. In the prior-year quarter, the company reported an adjusted EPS of $1.07.
Quarterly operating revenues of $1.86 billion topped the consensus mark of $1.81 billion by 2.2%. The top line increased by 9.2% year over year.
WYNN’s Q1 Profitability Improves Amid Elevated Expense LevelsOn a reported basis, net income attributable to Wynn Resorts increased to $120.5 million in the first quarter compared with $72.7 million reported in the year-ago quarter. Our model projected the metric to be $57.5 million.
Operating income in the first quarter advanced to $282.6 million from $268.6 million, reported in the prior-year quarter. Our model projected the metric to be $241.7 million.
Adjusted Property EBITDAR totaled $562.4 million, up from $532.9 million a year ago, and the earnings presentation indicated a quarterly EBITDAR margin of 30.3%. Cost items also moved higher in several areas, including depreciation and amortization of $160.5 million and gaming taxes of $514.5 million, while interest expense (net of amounts capitalized) was $152.4 million.
Wynn Resorts Benefits From Wynn Palace MomentumWynn Palace generated operating revenues of $659.3 million in the first quarter, rising $123.4 million from the prior-year period. The year-over-year increase was primarily driven by stronger gaming performance, alongside improvement across non-gaming categories. Our model projected first-quarter Wynn Palace revenues to be $572.9 million.
Profitability strengthened in tandem with the revenue gains. Adjusted Property EBITDAR at Wynn Palace rose to $203.8 million from $161.9 million a year earlier. Mass-market table games’ win percentage increased to 26.6% from 24.8%, while the VIP win rate was 3.11%, within the property’s expected 3.1% to 3.4% range.
WYNN’s Wynn Macau Results Reflect Unfavorable HoldWynn Macau posted operating revenues of $329.9 million in the first quarter, essentially unchanged from $330.0 million in the year-ago quarter. Our model projected first-quarter Wynn Macau revenues to be $326 million. While revenue trends were stable, profitability was constrained by weaker win rates relative to the prior-year period.
Adjusted Property EBITDAR declined to $75.6 million from $90.2 million a year ago. Mass-market table games’ win percentage decreased to 15.1% from 18.7%, and VIP win as a percentage of turnover fell to 0.39%, below the property’s expected range of 3.1% to 3.4%.
Wynn Resorts Sustains Premium Positioning in Las VegasLas Vegas Operations delivered operating revenues of $661.9 million in the first quarter, up $36.6 million year over year. Management attributed the performance to continued market share gains and ongoing investment in the property’s amenity set and customer experience. Our model predicted the first-quarter segment revenues to be $662.4 million.
Adjusted Property EBITDAR for Las Vegas Operations increased to $232.5 million from $223.4 million a year ago. Operational metrics in the earnings presentation showed RevPAR of $506, up 9.8% year over year, while table games win percentage was 25.2%, within the property’s expected range and above the prior-year level of 24.3%.
WYNN Continues Capital Returns and Funds for UAE DevelopmentWYNN declared a cash dividend of $0.25 per share, payable May 29, 2026. The company also repurchased 528,667 shares during the quarter for $53.8 million at an average price of $101.72 per share, and it ended the quarter with $401.1 million remaining under its repurchase authorization.
Liquidity and development funding remained in focus. Cash and cash equivalents totaled $1.19 billion at March 31, 2026, excluding $607.6 million of short-term investments held by Wynn Macau, Limited, while total current and long-term debt outstanding was $10.52 billion. During the quarter, the company contributed $100.1 million to the Wynn Al Marjan Island joint venture, bringing life-to-date cash contributions to $1.01 billion, with the project expected to open in 2027.
WYNN’s Zacks RankWynn Resorts currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Consumer Discretionary ReleasesRoyal Caribbean Cruises Ltd. (RCL - Free Report) reported first-quarter 2026 results, with adjusted earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis. In the quarter under review, the company reported adjusted EPS of $3.60, beating the Zacks Consensus Estimate of $3.20. In the year-ago quarter, RCL posted an adjusted EPS of $2.71. Revenues in the quarter totaled $4.45 billion, beating the consensus mark of $4.44 billion. The metric increased 11.3% year over year.
Hyatt Hotels Corporation (H - Free Report) reported first-quarter 2026 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate. The company reported first-quarter 2026 adjusted earnings of 63 cents per share, up 37% from 46 cents a year ago. The metric beat the Zacks Consensus Estimate of 57 cents per share by 10.5%. Total revenues rose 1.7% year over year to $1,748 million and topped the consensus mark of $1,712 million by 2.1%. Hyatt’s operating backdrop stayed constructive, with comparable system-wide hotels RevPAR increasing 5.4% and comparable system-wide all-inclusive resorts Net Package RevPAR rising 7.4% from the year-ago quarter.
Mattel, Inc. (MAT - Free Report) reported first-quarter 2026 results, with adjusted earnings and net sales beating the Zacks Consensus Estimate. Revenues improved, while the bottom line fell from the prior-year quarter levels. The company posted an adjusted loss of 20 cents per share, narrower than the Zacks Consensus Estimate of a loss of 24 cents by 16.67%. The bottom line declined from an adjusted loss of 2 cents reported in the prior-year quarter. Net sales of $862 million topped the consensus mark of $801 million by 7.59% and increased 4% year over year.
MSA Safety Incorporporated (NYSE:MSA) CFO Acquires $71,093.12 in StockMarketBeat
MSA Safety Incorporporated (NYSE:MSA - Get Free Report) CFO Julie Beck bought 448 shares of the stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $158.69 per share, with a total value of $71,093.12. Following the completion of the purchase, the chief financial officer owned 3,825 shares of the company's stock, valued at $606,989.25. This represents a 13.27% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
NYSE:MSA
Read MSA Safety Incorporporated (NYSE:MSA) CFO Acquires $71,093.12 in Stock
2 hours ago
Insider Selling: NBT Bancorp (NASDAQ:NBTB) Director Sells 2,100 Shares of StockMarketBeat
NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) Director Heidi Hoeller sold 2,100 shares of the business's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $48.03, for a total transaction of $100,863.00. Following the transaction, the director owned 11,560 shares of the company's stock, valued at approximately $555,226.80. This represents a 15.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
NASDAQ:NBTB
Read Insider Selling: NBT Bancorp (NASDAQ:NBTB) Director Sells 2,100 Shares of Stock
2 hours ago
Douglas Milne Sells 1,600 Shares of IGM Financial (TSE:IGM) StockMarketBeat
IGM Financial Inc. (TSE:IGM - Get Free Report) Director Douglas Milne sold 1,600 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of C$80.61, for a total value of C$128,976.00. Following the sale, the director directly owned 800 shares in the company, valued at C$64,488. The trade was a 66.67% decrease in their ownership of the stock.
TSE:IGM
Read Douglas Milne Sells 1,600 Shares of IGM Financial (TSE:IGM) Stock
2 hours ago
GlobalFoundries (NASDAQ:GFS) Insider Michael James Hogan Sells 2,800 SharesMarketBeat
GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report) insider Michael James Hogan sold 2,800 shares of GlobalFoundries stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $75.17, for a total value of $210,476.00. Following the transaction, the insider owned 6,695 shares in the company, valued at $503,263.15. This trade represents a 29.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
NASDAQ:GFS
Read GlobalFoundries (NASDAQ:GFS) Insider Michael James Hogan Sells 2,800 Shares
The founder of Authentic Brands Group, the management firm behind dozens of retail and media names including Reebok, Champion and Brooks Brothers, said he expects to take the company public in the next 12 months as he announced a former Wynn Resorts CEO will be its next chief executive.
In an exclusive interview with CNBC's Sara Eisen, Jamie Salter said Authentic's president, Matt Maddox, who joined the firm as president in January 2025 after a 20-year career at Wynn, will take over as CEO so Salter can transition to executive chairman.
When asked if this means the company is headed for an initial public offering, Salter said he expects the company to go public "sometime in the next 12 months."
"There's no doubt about it that Matt is definitely a great Wall Street CEO," said Salter. "We've almost gone public twice, we've filed twice and both times we were taken out by other private equity firms at much higher prices. I think this time, the company has grown so big that I think this time we'll probably end up going public sometime in the next 12 months."
Salter said the transition is necessary because he's trying to grow Authentic into a $100 billion company over the next five years, and said he needs to spend "100% of my time" focused on the mergers and acquisitions that have long formed the lifeblood of his business.
In his new role, Salter will remain "deeply engaged in the business" but will focus on long-term strategy, Authentic said in a news release. Maddox will lead day-to-day operations with a mandate to scale the business, drive organic growth, and create value for the firm's "shareholders and partners."
In a release, Maddox added "the opportunity ahead is significant, and we are just getting started."
Authentic generates about $38 billion in systemwide retail sales and has become a major force in the retail industry, known for buying the intellectual property behind popular brands that are distressed or bankrupt and licensing that IP for lucrative royalties.
It has more than 50 brands in its portfolio, including Sports Illustrated, Guess and Juicy Couture, and has partnered with major figures like Shaquille O'Neal, David Beckham and Kevin Hart.
Authentic was almost entirely focused on apparel retailers for years, but these days, Salter said he is looking more toward entertainment acquisitions, which are currently the "driving force" of the business.
"Entertainment today is roughly 20% of our business, 80% beauty and lifestyle, but I believe that over a period of time entertainment will become much stronger, going from 20% to 50%," said Salter. "The reason why I want to focus so much on the entertainment business is because it's clear as day that content drives commerce."
Authentic has been signaling it's ready for a public offering for years, most recently in April during the Reuters Momentum AI event where Salter said the company will attempt another IPO "soon."
He added that once the company was ready to file with the U.S. Securities and Exchange Commission, he planned to be in a leadership position other than CEO.
That moment appears to have arrived with Maddox's appointment as CEO and Salter's transition to executive chairman.
Salter, who has spent decades in the consumer and retail space, is an accomplished investor and dealmaker, but he is less experienced than Maddox when it comes to the chops necessary to run a public company. During his time at Wynn, a near $10 billion market cap company traded on the Nasdaq, Maddox spent almost 15 years in the C-suite as CFO, president and CEO, according to his LinkedIn profile.
Often when companies are nearing an IPO, they will choose leaders who have deep experience running public companies, especially when those firms are led by founders.
On May 20, 2026, Wynn Resorts Ltd WYNN shares rose 3.5% to a current price of $98.06. The stock has been quite volatile, trading within a 52-week range of $82.63 to $134.72, reflecting a downward trend year-to-date with an 18.1% decline. However, today's movement indicates a potential shift in market sentiment.
GF Value™ verdict: Current price is $98.06, while GF Value™ estimates fair value at $117.87, indicating the stock is 16.8% undervalued.GF Score™: 82/100, categorized as strong, suggesting favorable long-term performance potential.Most notable signal: No insider transactions have occurred in the last 3 months, indicating a lack of insider confidence in the near term. Is WYNN Overvalued or Undervalued? Considering the current price of $98.06 against the GF Value™ of $117.87, Wynn Resorts appears to be undervalued by approximately 16.8%. This presents a margin of safety for potential investors, supporting the idea that the stock could be a good opportunity for those looking for value in the travel and leisure sector. The GF Valuation label classifies the stock as modestly undervalued, which suggests that there is room for price appreciation based on intrinsic value calculations.
GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. Therefore, while the undervaluation indicates a potential opportunity, investors should consider the broader market conditions and the company's financial health before making investment decisions.
How Does WYNN's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 29.3x 22.9x Forward P/E 19.6x N/A The current P/E (TTM) for Wynn Resorts is 29.3x, which is 28% above its 5-year median P/E of 22.9x. The forward P/E of 19.6x suggests anticipated earnings growth in the future. This P/E analysis aligns with the GF Value™ verdict, indicating that the stock may be trading at a higher valuation compared to its historical benchmarks, reinforcing the notion of potential undervaluation given its GF Value™ assessment.
What Does WYNN's GF Score™ Tell Us? Metric Rating GF Score™ 82/100 Financial Strength 3/10 Profitability 8/10 Growth 7/10 Valuation 8/10 Momentum 7/10 The GF Score™ provides insight into the overall health and potential of Wynn Resorts. With a strong score of 82/100, the company demonstrates solid profitability (8/10) and valuation (8/10), suggesting strong historical performance and a favorable outlook. However, the financial strength score of 3/10 reveals significant weaknesses in this area, indicating potential risks that investors should be aware of. The growth and momentum rankings of 7/10 suggest that while the company has room for improvement, there are also positive indicators for future performance.
What Are Insiders Doing with WYNN Stock? In the past three months, there have been no insider transactions reported for Wynn Resorts Ltd. This lack of insider activity could suggest that company executives are not currently confident in the stock’s short-term performance or may indicate a wait-and-see approach amidst market volatility. Insider activity can often serve as a signal to investors, and the absence of transactions may warrant cautious consideration.
What This Means for Investors Based on the current analysis, Wynn Resorts Ltd WYNN appears to be undervalued according to GF Value™, offering a potential opportunity for investors. However, the company's financial strength and insider activity suggest that caution may be warranted when considering this investment.
For the complete analysis, visit the Wynn Resorts Ltd WYNN stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is WYNN's GF Score™?
WYNN's GF Score™ is 82/100, indicating a strong overall performance potential based on key financial metrics.
Is WYNN overvalued or undervalued?
Wynn Resorts is currently undervalued, with a GF Value™ of $117.87 compared to its current price of $98.06.
What is WYNN's P/E ratio?
Wynn Resorts has a P/E (TTM) of 29.3x, which is significantly above its 5-year median of 22.9x, suggesting a higher valuation compared to its historical performance.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Malcolm Ethridge, managing partner at Capital Area Planning Group, named Okta Inc (NASDAQ:OKTA) as his final trade.
Lending support to his choice, Dominion Energy, on May 28, posted better-than-expected earnings for the first quarter.
<em> Don't forget to check out our <a href=”https://www.benzinga.com/premarket/“> premarket coverage here </a> </em>
Morgan Stanley reiterated ServiceTitan Inc (NASDAQ:TTAN) as its Top Pick with a price target of $118.00.
TD Cowen analyst Andrew Sherman maintained ServiceTitan with a Buy Outperform rating, while lowering the price target from $135 to $110.
Price Action:
Wynn Resorts shares rose 0.32% to close at $101.54 on Thursday. Okta Inc gained 5.83% to settle at $94.72 during the session. ServiceTitan shares were up 3.95% to settle at $65.79 on Thursday. Market News and Data brought to you by Benzinga APIs
The hospitality and gaming markets have evolved into a battle of scale versus luxury. Choosing between MGM Resorts International (MGM +3.28%) and Wynn Resorts (WYNN 0.41%) requires deciding between high-volume diversification and premium-focused concentration.
MGM Resorts provides broad exposure to the mass market and digital gaming through its massive domestic footprint. In contrast, Wynn Resorts targets the high-end traveler with a smaller number of iconic properties that generate significant cash per room.
MGM Resorts is a global leader in the gaming and entertainment industry, operating a vast portfolio of 31 hotel and gaming destinations. Its business strategy centers on a diverse mix of revenue streams, including hospitality, retail, and its expanding BetMGM digital platform. The company's reach extends from the Las Vegas Strip to international markets like Macau, catering to both leisure travelers and corporate meeting planners.
In its 2025 fiscal year (FY), revenue reached $17.5 billion, representing a growth rate of 1.7% over the previous year. The company reported a net margin of 1.2%, which is the percentage of revenue remaining as profit after all expenses are paid. This performance resulted in net income of $211.1 million for the fiscal year.
As of its December 2025 balance sheet, the company carries a debt-to-equity ratio of 23.1x. This metric, which compares total debt to shareholder equity, indicates a high level of leverage in the capital structure. MGM generated free cash flow of $1.7 billion, which is the cash a company produces through its operations minus the money spent on physical assets. Its current ratio, a measure of the ability to pay short-term obligations with short-term assets, stands at 1.2x.
The case for Wynn ResortsWynn Resorts focuses on the luxury end of the hospitality market, positioning its properties as premier destinations for high-end travelers. The company operates iconic resorts in Las Vegas, Macau, and Boston, and is currently expanding its footprint with a new project in the United Arab Emirates. This focus on the premium segment allows the company to target a specific demographic of affluent customers among consumer discretionary stocks.
During FY 2025, the company generated revenue of $7.1 billion, which remained relatively flat compared to the prior year. Despite the stagnant growth, it achieved a net margin of roughly 4.6%, demonstrating a higher level of profitability per dollar of sales than some of its peers. The resulting net income for the period was $327.3 million.
According to the December 2025 balance sheet, the debt-to-equity ratio is -44.6x. This negative figure means that total liabilities exceed shareholder equity. The company maintains a current ratio of 1.6x, providing a cushion for meeting its immediate financial liabilities. Free cash flow for the year was $692.2 million, reflecting the cash left over after accounting for capital expenditures.
Risk profile comparisonSubstantial debt and fixed rent obligations limit MGM Resorts International and its ability to navigate economic downturns. The company also faces significant geographic concentration on the Las Vegas Strip, making it vulnerable to local disruptions. Additionally, it must compete with large-scale operators like Las Vegas Sands and manage the complex regulatory environment in Macau.
Wynn Resorts relies on a small number of resorts for its entire cash flow, which creates significant vulnerability to local economic shifts. Its heavy dependence on the Macau market carries regulatory risks, as the local government holds the power to rescind gaming concessions. Wynn also faces intense competition from established players such as Caesars Entertainment.
Valuation comparisonMGM Resorts International appears cheaper based on total sales, while Wynn Resorts offers a lower multiple relative to its future earnings estimates.
MetricMGM Resorts InternationalWynn ResortsSector BenchmarkForward P/E25.7x21.9x31.2xP/S ratio0.7x1.5xn/aSector benchmark uses the SPDR XLY sector ETF. Valuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.
Which stock would I buy in 2026?Casino stocks have seen the industry experience a rough patch as Las Vegas tourism dropped to record lows last year. This has led to big changes in the sector. Caesars Entertainment stock is going private, leaving MGM Resorts International and Wynn Resorts among two of the most prominent casino stocks.
Even so, that may soon change. MGM Resorts received an acquisition offer from People Incorporated on June 1. The terms involve paying $48.30 per share in an all-cash deal.
Consequently, MGM shares soared to a 52-week high of $51.59, and as a result, buying the stock at this point does not make sense. If the deal goes through, there would be little to no upside. Of course, MGM could reject the takeover bid. So the prudent approach is to hold off any decision around MGM Resorts stock until the dust has settled around the acquisition offer.
This leaves Wynn Resorts as the stock to buy at this time. Its lower forward P/E ratio indicates its future earnings are expected to outpace its rival’s, giving it a better valuation, thanks to its focus on the high-end market.
TMX Group (TSE: X) executives said the company has started 2026 with momentum across capital formation, markets, and recurring-revenue data and analytics businesses, while positioning the organization to benefit from emerging themes such as artificial intelligence and tokenization. Speaking with National Bank Financial equity research analyst Jaeme Gloyn, David Arnold, TMX Group's chief financial officer, and
TMX Group Limited (TSE:X – Get Free Report) has been given an average rating of “Moderate Buy” by the nine analysts that are presently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is C$60.67.
Several brokerages recently issued reports on X. Barclays reduced their price objective on TMX Group from C$59.00 to C$52.00 and set an “equal weight” rating on the stock in a research note on Monday, February 9th. Canaccord Genuity Group dropped their target price on shares of TMX Group from C$64.00 to C$61.00 and set a “buy” rating on the stock in a report on Monday, February 9th. Royal Bank Of Canada reduced their price target on shares of TMX Group from C$67.00 to C$64.00 and set an “outperform” rating on the stock in a research report on Monday, February 9th. Finally, Raymond James Financial raised shares of TMX Group from a “moderate buy” rating to a “strong-buy” rating and lifted their price target for the company from C$59.00 to C$61.00 in a report on Monday, February 9th.
View Our Latest Report on TMX Group
TMX Group Stock Up 1.4% Shares of TMX Group stock opened at C$49.61 on Tuesday. The business has a 50-day moving average price of C$47.80 and a 200 day moving average price of C$50.26. TMX Group has a fifty-two week low of C$44.10 and a fifty-two week high of C$57.98. The firm has a market cap of C$13.80 billion, a P/E ratio of 33.30, a P/E/G ratio of 12.65 and a beta of -0.29. The company has a quick ratio of 0.01, a current ratio of 1.00 and a debt-to-equity ratio of 45.58.
TMX Group (TSE:X – Get Free Report) last released its earnings results on Thursday, February 5th. The company reported C$0.60 EPS for the quarter. TMX Group had a return on equity of 8.85% and a net margin of 14.23%.The company had revenue of C$457.80 million for the quarter. On average, sell-side analysts forecast that TMX Group will post 1.7708421 earnings per share for the current fiscal year.
TMX Group Increases Dividend The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, March 6th were issued a $0.24 dividend. This is an increase from TMX Group’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, February 20th. TMX Group’s dividend payout ratio is 56.38%.
About TMX Group (Get Free Report)
TMX Group Ltd is a company that operates several global markets to provide investment opportunities for its clients. TMX Group’s key operations include Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montreal Exchange, Canadian Derivatives Clearing Corporation, and Trayport, which provides listing markets, trading markets, clearing facilities, depository services, technology solutions, data products, and other services to the global financial community.
Read More Five stocks we like better than TMX Group
Receive News & Ratings for TMX Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TMX Group and related companies with MarketBeat.com's FREE daily email newsletter.
For the quarter ended March 2026, W.R. Berkley (WRB - Free Report) reported revenue of $3.71 billion, up 5% over the same period last year. EPS came in at $1.30, compared to $1.01 in the year-ago quarter.
The reported revenue represents a surprise of -0.28% over the Zacks Consensus Estimate of $3.72 billion. With the consensus EPS estimate being $1.13, the EPS surprise was +15.04%.
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 W.R. Berkley performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Loss ratio - Total: 62.1% versus 62.5% estimated by three analysts on average.Expense Ratio - Total: 28.6% compared to the 28.4% average estimate based on three analysts.Combined Ratio - Total: 90.7% versus 90.9% estimated by three analysts on average.Loss ratio - Reinsurance & Monoline Excess: 48.3% versus 54.2% estimated by two analysts on average.Expense ratio - Reinsurance & Monoline Excess: 30.3% versus the two-analyst average estimate of 29.1%.Revenues from non-insurance businesses: $156.55 million versus the three-analyst average estimate of $132.99 million. The reported number represents a year-over-year change of +21.4%.Insurance service fees: $28.23 million versus the three-analyst average estimate of $29.27 million. The reported number represents a year-over-year change of -2.4%.Net premiums earned: $3.12 billion compared to the $3.19 billion average estimate based on three analysts. The reported number represents a change of +3.4% year over year.Net investment income: $404.33 million compared to the $389.14 million average estimate based on three analysts. The reported number represents a change of +12.2% year over year.Net premiums earned- Reinsurance & Monoline Excess: $349.68 million compared to the $384.19 million average estimate based on two analysts. The reported number represents a change of -5.5% year over year.Other income (loss): $1.82 million versus $1.06 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +242% change.Net premiums earned- Insurance: $2.77 billion versus $2.79 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +4.7% change.View all Key Company Metrics for W.R. Berkley here>>>
Shares of W.R. Berkley have returned +1% over the past month versus the Zacks S&P 500 composite's +9.3% 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.
WR Berkley (NYSE:WRB) reported mixed results for the first quarter after the closing bell on Tuesday.
The company posted quarterly earnings of $1.30 per share which beat the analyst consensus estimate of $1.15 per share. The company reported quarterly sales of $3.690 billion which missed the analyst consensus estimate of $3.759 billion.
WR Berkley shares gained 2.4% to trade at $66.94 on Wednesday.
These analysts made changes to their price targets on WR Berkley following earnings announcement.
Truist Securities analyst Mark Hughes maintained WR Berkley with a Buy and lowered the price target from $80 to $78. Barclays analyst Alex Scott maintained the stock with an Underweight rating and raised the price target from $62 to $64. Considering buying WRB stock? Here’s what analysts think:
Photo via Shutterstock
Market News and Data brought to you by Benzinga APIs
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.93% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: W.R. Berkley (WRB - Free Report) Founded in 1967 and based in Greenwich, CT, W.R. Berkley Corp. is a Fortune 500 company. It is one of the nation’s largest commercial lines property casualty insurance providers. The company offers a variety of insurance services from reinsurance to workers’ comp third-party administrators (TPAs) across the United States and in 87 other countries.
WRB is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 14.36; value investors should take notice.
Three analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.00 to $4.56 per share. WRB also boasts an average earnings surprise of +4.7%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, WRB should be on investors' short list.
Key Takeaways W.R. Berkley's Q1 net premiums rose 1.3% to $3.17B, missing estimates. W.R. Berkley's revenues grew 4% on higher premiums, investment income and other business gains. W.R. Berkley's combined ratio improved to 90.7, while catastrophe losses fell YoY. W.R. Berkley Corporation (WRB - Free Report) reported first-quarter 2026 operating income of $1.30 per share, which beat the Zacks Consensus Estimate by 15%. The bottom line increased 28.7% year over year.
The insurer benefited from higher premiums, strong investment income growth and lower catastrophe losses.
Behind the HeadlinesW.R. Berkley’s net premiums written were about $3.2 billion, up 1.3% year over year. The figure missed our estimate as well as the Zacks Consensus Estimate of $3.18 billion.
Operating revenues totaled $ 3.7 billion, up 5% year over year, driven by higher net premiums earned, improved net investment income, higher revenues from non-insurance businesses and increased other income. However, the top line missed the consensus estimate by 0.28%.
Net investment income grew 12.2% to $404.3 million, supported by higher invested assets, better yields and strong fund income. The figure topped our estimate of $387 million. The consensus estimate was $401 million.
Total expenses increased 2.2% to $3 billion, caused by higher losses and loss expenses, other operating costs and expenses, and expenses from non-insurance businesses. The figure was lower than our estimate of $3.7 billion.
The loss ratio improved 100 basis points (bps) to 62.2, while the expense ratio deteriorated 80 bps year over year to 28.6.
Catastrophe losses of $75.7 million were lower than the $111.1 million incurred in the year-ago quarter.
The consolidated combined ratio (a measure of underwriting profitability) improved 20 basis points year over year to 90.7, missing the Zacks Consensus Estimate of 91.8.
Q1 Segment DetailsNet premiums written at the Insurance segment increased 3.2% year over year to $2.78 billion in the quarter, primarily driven by higher premiums from other liability, short-tail lines, auto and professional liability. The figure was slightly higher than our estimate.
The combined ratio deteriorated 50 basis points year over year to 92.2. Our estimate was 92.8.
Net premiums written in the Reinsurance & Monoline Excess segment increased 10.4% year over year to $394.6 million. The figure beat our estimate of $393.8 million.
The combined ratio improved 680 bps to 78.6, which matched the Zacks Consensus Estimate. Our estimate for the metric was 86.
Financial UpdateW.R. Berkley exited the first quarter of 2026 with total assets worth $44.3 billion compared with $43.9 billion at the 2025-end level.
Senior notes and other debt increased 1.1% from the 2025-end levels to $1.8 billion.
Book value per share increased 1.6% from 2025-end levels to $26.13.
Cash flow from operations was $667.9 million, down 10.2% year over year.
Operating return on equity in the first quarter increased 120 basis points year over year to 21.2%.
Capital DeploymentTotal capital returned to shareholders was $336.1 million, comprising $302.4 million in share repurchases and $33.7 million in regular dividends.
WRB’s Zacks RankW.R. Berkley currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other InsurersThe Travelers Companies, Inc. (TRV - Free Report) reported that first-quarter 2026 core income rose to $7.71 per share in the current quarter from $1.91 in the prior-year quarter, and beat the Zacks Consensus Estimate by 10%. Travelers’ total revenues increased 1% from the year-ago quarter to $11.9 billion, primarily driven by higher premiums, net investment income and other revenues. The top line missed the Zacks Consensus Estimate by 3.74%.
Net written premiums increased 1% year over year to a record $10.8 billion. Net investment income increased 9% year over year to $833 million. Travelers witnessed an underwriting gain of $1.7 billion compared with an underwriting loss of $305 million in the prior-year quarter. The consolidated underlying combined ratio of 85.3% decreased 50 bps year over year.
The Progressive Corporation (PGR - Free Report) posted first-quarter 2026 earnings per share of $4.96, which beat the Zacks Consensus Estimate by 2.5%. The bottom line increased 6.7% year over year. Total revenues grew 8.2% year over year to $22.3 billion, driven by higher net premiums earned, an increase in net investment income and higher service revenues. However, the top line missed the Zacks Consensus Estimate by 1.2%.
Net premiums written were $23.6 billion in the quarter, up 6.5% from $22.2 billion a year ago. Net realized loss on securities was $120 million, narrower than the loss of $212 million in the year-ago quarter. The combined ratio deteriorated 40 bps from the prior-year quarter’s level to 86.4.
Upcoming ReleaseRLI Corp. (RLI - Free Report) is set to report results for the first quarter ended March 2026 on April 22 after the market close.
RLI is a specialty property-casualty (P&C) insurance company that is expected to post quarterly earnings of $0.85 per share in its upcoming report, representing a year-over-year decline of 7.6%. The consensus EPS estimate for the quarter has been revised 0.9% higher over the last 30 days to the current level. RLI's revenues are expected to be $453.45 million, up 4.2% from the year-ago quarter.
GREENWICH, Conn.--(BUSINESS WIRE)--W. R. Berkley Corporation (NYSE: WRB) today announced the appointment of R. Christopher DeLauder as president of Berkley Environmental. He succeeds Kenneth J. Berger, who has been named chair of the business. The appointments are effective immediately.
Mr. DeLauder has nearly 40 years of experience in the insurance industry, focused almost exclusively in the environmental sector. He joined Berkley Environmental as vice president in 2010 and most recently served as executive vice president. Mr. Berger will support the Berkley Environmental team through the transition and remain a key member of W. R. Berkley Corporation management engaged in other initiatives and activities.
Commenting on the appointment, W. Robert Berkley, Jr., president and chief executive officer of W. R. Berkley Corporation, said: "Ken has been an outstanding contributor and leader within our organization for many years. He has been instrumental in building Berkley Environmental into one of the most successful parts of our group today. We are grateful for all that he has done and will continue to do on behalf of our shareholders. We are pleased to welcome Chris into the role of president and are confident in his abilities to successfully lead the extremely talented team going forward.”
Berkley Environmental provides customized environmental risk solutions for a wide range of businesses through a unique regional structure in which a single underwriter provides a total account solution by handling all required lines of business. For further information about the products and services available from Berkley Environmental, please visit www.berkleyenvironmental.com.
Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty insurance business: Insurance and Reinsurance & Monoline Excess. For further information about W. R. Berkley Corporation, please visit www.berkley.com.
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.93% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: W.R. Berkley (WRB - Free Report) Founded in 1967 and based in Greenwich, CT, W.R. Berkley Corp. is a Fortune 500 company. It is one of the nation’s largest commercial lines property casualty insurance providers. The company offers a variety of insurance services from reinsurance to workers’ comp third-party administrators (TPAs) across the United States and in 87 other countries.
WRB is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
Momentum investors should take note of this Finance stock. WRB has a Momentum Style Score of A, and shares are up 2.8% over the past four weeks.
For fiscal 2026, six analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.04 to $4.60 per share. WRB boasts an average earnings surprise of +4.7%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, WRB should be on investors' short list.
Key Takeaways NMIH Q1 operating EPS was $1.28, beating consensus by 4.9% while staying flat Y/Y.NMIH revenues rose 5.8% to $183M on higher premiums and a 21% jump in net investment income.NMIH claims surged to $20.6M, pushing loss and combined ratios higher despite a better expense ratio. NMI Holdings (NMIH - Free Report) reported first-quarter 2026 operating net income per share of $1.28, which beat the Zacks Consensus Estimate by 4.9%. The bottom line remained flat year over year.
The quarterly results reflected higher premiums earned, improved net investment income and consistent growth in the high-quality insured portfolio. These were offset by lower persistency.
Operational Update NMI Holdings’ total operating revenues of $183 million increased 5.8% year over year on higher net premiums earned (up 4%) and net investment income (up 21%). Revenues beat the Zacks Consensus Estimate by 0.4%.
Primary insurance in force increased 5.2% year over year to $222.3 billion. Our estimate was $222.1 billion while the consensus estimate was $222.2 billion.
Annual persistency was 82.2%, down 210 basis points (bps) year over year.
New insurance written was $12.3 billion, up 33% year over year, reflecting strong business production.
Underwriting and operating expenses totaled $30.6 million, up 1.5% year over year.
Insurance claims and claim expenses were $20.6 million, which surged more than fourfold year over year.
The loss ratio was 13.3, which deteriorated 1030 bps. The adjusted expense ratio of 19.3 improved 400 bps year over year, while the adjusted combined ratio of 33.1 deteriorated 990 bps.
Financial UpdateBook value per share, a measure of net worth, was up 16.6% year over year to $34.57 as of March 31, 2026.
NMI Holdings had $70.7 million in cash and cash equivalents, up 60.8% from the 2025 end level.
The debt balance of $417.5 million increased 0.1% from the end of 2025.
The annualized adjusted return on equity was 15.2%, which contracted 290 bps year over year. Total PMIERs available assets were $3.6 billion.
Net risk-based required assets totaled $2.2 billion at the end of first-quarter 2026.
Zacks RankNMIH currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other InsurersSelective Insurance Group (SIGI - Free Report) reported first-quarter 2026 operating income of $1.69 per share, which missed the Zacks Consensus Estimate by 2.3%. The bottom line decreased 11% year over year.
Operating revenues of $1.4 billion increased 6.4% from the year-ago quarter’s level, driven primarily by higher net premiums earned and net investment income. The top line missed the Zacks Consensus Estimate by 0.5%. Net premiums written decreased 1% to $1.3 billion. The figure was on par with our estimate.
W.R. Berkley Corporation (WRB - Free Report) reported first-quarter 2026 operating income of $1.30 per share, which beat the Zacks Consensus Estimate by 15%. The bottom line increased 28.7% year over year.
Total revenues were $3.7 billion, up 5% year over year, driven by higher net premiums earned, improved net investment income, higher revenues from non-insurance businesses and increased other income. The top line missed the consensus estimate by 0.28%. W.R. Berkley’s net premiums written were about $3.2 billion, up 1.3% year over year. The figure beat our estimate as well as the Zacks Consensus Estimate of $3.18 billion.
Kinsale Capital Group, Inc. (KNSL - Free Report) delivered first-quarter 2026 net operating earnings of $5.11 per share, which outpaced the Zacks Consensus Estimate by 8.7%. The bottom line increased 37.7% year over year. Operating revenues increased 10.2% year over year to $467 million, which beat the Zacks Consensus Estimate by 0.1%.
Kinsale Capital’s underwriting income was $94.5 million, up 40% year over year. The combined ratio improved 470 bps year over year to 77.4 compared with the Zacks Consensus Estimate of 79.1. The loss ratio improved 580 bps to 56.3, reflecting lower catastrophe losses and favorable reserve development. The expense ratio deteriorated 110 bps year over year to 21.1.
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
#1 (Strong Buy) stocks have produced an unmatched +23.7% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: W.R. Berkley (WRB - Free Report) Founded in 1967 and based in Greenwich, CT, W.R. Berkley Corp. is a Fortune 500 company. It is one of the nation’s largest commercial lines property casualty insurance providers. The company offers a variety of insurance services from reinsurance to workers’ comp third-party administrators (TPAs) across the United States and in 87 other countries.
WRB is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
Additionally, the company could be a top pick for growth investors. WRB has a Growth Style Score of B, forecasting year-over-year earnings growth of 7.4% for the current fiscal year.
For fiscal 2026, eight analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.10 to $4.65 per share. WRB boasts an average earnings surprise of +4.7%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, WRB should be on investors' short list.
It has been about a month since the last earnings report for W.R. Berkley (WRB - Free Report) . Shares have added about 1.1% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is W.R. Berkley due for a pullback? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent catalysts for W.R. Berkley Corporation before we dive into how investors and analysts have reacted as of late.
W.R. Berkley's Q1 Earnings Surpass Estimates, Revenues Miss
W.R. Berkley Corporation reported first-quarter 2026 operating income of $1.30 per share, which beat the Zacks Consensus Estimate by 15%. The bottom line increased 28.7% year over year.
The insurer benefited from higher premiums, strong investment income growth and lower catastrophe losses.
Behind the Headlines
W.R. Berkley’s net premiums written were about $3.2 billion, up 1.3% year over year. The figure missed our estimate as well as the Zacks Consensus Estimate of $3.18 billion.
Operating revenues totaled $ 3.7 billion, up 5% year over year, driven by higher net premiums earned, improved net investment income, higher revenues from non-insurance businesses and increased other income. However, the top line missed the consensus estimate by 0.28%.
Net investment income grew 12.2% to $404.3 million, supported by higher invested assets, better yields and strong fund income. The figure topped our estimate of $387 million. The consensus estimate was $401 million.
Total expenses increased 2.2% to $3 billion, caused by higher losses and loss expenses, other operating costs and expenses, and expenses from non-insurance businesses. The figure was lower than our estimate of $3.7 billion.
The loss ratio improved 100 basis points (bps) to 62.2, while the expense ratio deteriorated 80 bps year over year to 28.6.
Catastrophe losses of $75.7 million were lower than the $111.1 million incurred in the year-ago quarter.
The consolidated combined ratio (a measure of underwriting profitability) improved 20 basis points year over year to 90.7, missing the Zacks Consensus Estimate of 91.8.
Q1 Segment Details
Net premiums written at the Insurance segment increased 3.2% year over year to $2.78 billion in the quarter, primarily driven by higher premiums from other liability, short-tail lines, auto and professional liability. The figure was slightly higher than our estimate.
The combined ratio deteriorated 50 basis points year over year to 92.2. Our estimate was 92.8.
Net premiums written in the Reinsurance & Monoline Excess segment increased 10.4% year over year to $394.6 million. The figure beat our estimate of $393.8 million.
The combined ratio improved 680 bps to 78.6, which matched the Zacks Consensus Estimate. Our estimate for the metric was 86.
Financial Update
W.R. Berkley exited the first quarter of 2026 with total assets worth $44.3 billion compared with $43.9 billion at the 2025-end level.
Senior notes and other debt increased 1.1% from the 2025-end levels to $1.8 billion.
Book value per share increased 1.6% from 2025-end levels to $26.13.
Cash flow from operations was $667.9 million, down 10.2% year over year.
Operating return on equity in the first quarter increased 120 basis points year over year to 21.2%.
Capital Deployment
Total capital returned to shareholders was $336.1 million, comprising $302.4 million in share repurchases and $33.7 million in regular dividends.
How Have Estimates Been Moving Since Then?It turns out, estimates review have trended downward during the past month.
VGM ScoresAt this time, W.R. Berkley has a average Growth Score of C, though it is lagging a bit on the Momentum Score front with a D. However, the stock was allocated a score of B on the value side, putting it in the top 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, W.R. Berkley has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Key Takeaways WRB is growing through specialty commercial lines, international expansion and strong retention rates.W.R. Berkley posted a 9.8% CAGR in net investment income from 2018 through 2025.WRB held nearly $2.3B in cash while facing competition and international market risks. Shares of W.R. Berkley Corporation (WRB - Free Report) have lost 10.9% in the past year compared with the industry’s decline of 4.6%. Its share price as of Wednesday was $65.29, down 17.3% from its 52-week high of $78.96.
Slowing premium growth, competitive pricing pressure, and a rising expense ratio likely have weighed on the insurer. Despite this, the company continues to maintain strong underwriting performance, high return on equity (ROE), and growing investment income. It remains well-positioned to grow if premium growth stabilizes and insurance pricing conditions remain favorable.
Shares of other insurers like Arch Capital Group Ltd. (ACGL - Free Report) , RLI Corp. (RLI - Free Report) and Kinsale Capital Group, Inc. (KNSL - Free Report) have lost 3%, 31.8%, and 34.5%, respectively, in the past year.
WRB Shares Are ExpensiveWRB shares are trading at a premium to the industry. Its price-to-book value of 2.49X is higher than the industry average of 1.4X.
WRB’s Encouraging Growth ProjectionThe Zacks Consensus Estimate for W.R. Berkley’s 2026 earnings per share indicates a year-over-year increase of 7.9% The consensus estimate for revenues is pegged at $15 billion, implying a year-over-year improvement of 2.9%.
The consensus estimate for 2027 earnings per share and revenues indicates an increase of 3% and 4%, respectively, from the corresponding 2026 estimates.
WRB’s Favorable Return on CapitalReturn on equity for the trailing 12 months was 18.9%, which compared favorably with the industry’s 7.4%. This reflects its efficiency in utilizing shareholders’ funds.
ROIC in the trailing 12 months was 8.7%, better than the industry average of 5.7%. This reflects WRB’s efficiency in utilizing funds to generate income.
Factors Acting in Favor of WRB StockAs part of its growth strategy, W.R. Berkley has been focusing on commercial lines, including excess and surplus lines, admitted lines and specialty personal lines, where it has a competitive advantage. The company has diversified its business to offset cyclical pressures and ensure stability in cash flows despite cyclical gyrations.
The insurance business, which contributes the lion’s share to net premiums written, is poised to grow on the strength of several new startup units across varied business lines. Expansion of international business that offers diversification benefits, rate increase, market dislocations and high retention.
W.R. Berkley remains focused on expanding selectively in attractive global markets and thus has operations in the emerging markets of the UK, Continental Europe, South America, Canada, Scandinavia, Asia and Australia. The company’s international business has witnessed consistent premium growth over many years. Given its solid track record in the past, we expect the company’s international business to post increasing premiums going forward.
Net investment income has been witnessing improvement over the last few years, as evident from the CAGR of 9.8% in the last eight years (2018-2025). Record net invested assets and higher new money rates on growing fixed maturity portfolio, along with strong operating cash flows, are driving net investment income. Higher investment fund income arising from transportation and financial services-related sectors should also add to the upside.
The insurer is leveraging AI across underwriting, claims processing, risk assessment, customer service, fraud detection and marketing. WRB is at the forefront of AI integration, setting a benchmark for innovation and excellence.
W.R. Berkley maintains a solid balance sheet with sufficient liquidity and strong cash flows. WRB boasts more than 60 straight quarters of favorable reserve development, given its prudent underwriting. As of March 31, 2026, the company had cash and cash equivalents of nearly $2.3 billion. A strong capital position helps W.R. Berkley in wealth distribution via share repurchases, special dividends and dividend hikes that enhance shareholders’ value.
Risks for WRBWRB’s expanding international operations expose it to increased political, legal, regulatory and economic risks, including foreign currency and credit risk. The insurer also faces additional risks that could have an adverse effect on its results of operations and financial condition.
WRB competes with a large number of other companies across selected lines of business. Increased competition affects the profitability of existing and new businesses. This intense competition could cause the supply and demand for insurance or reinsurance to change.
End NotesThe property and casualty insurer is set to grow on rate increases, reserving discipline, diversification benefits, momentum in international business, investment in alternative assets, and consistent cash flow. However, stiff competition and exposure to foreign currency and credit risk are the main concerns.
Banking on consistent cash flow, W.R. Berkley announced a 12.5% quarterly dividend hike in June 2025, marking an increase every year since 2005. Its dividend yield of 0.5% is higher than the industry average of 0.3%, making it an attractive pick for yield-seeking investors.
Given the premium valuation, it is better to stay cautious about this Zacks Rank #3 (Hold) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways Global commercial insurance rates fell 5% in Q1 2026, marking a seventh straight quarterly decline. Higher bond yields, underwriting discipline and reinsurance support are expected to aid profitability. Cincinnati Financial appears better positioned than WRB across valuation, growth and dividend metrics. The Zacks Property and Casualty (P&C) Insurance industry has been benefiting from Solid retention, exposure growth across business lines and improved pricing, driving higher premiums and helping insurers maintain profitability. The industry remains focused on personalized offerings to enhance customer experience, leveraging digitalization. However, catastrophic activities, both natural and man-made, might have weighed on underwriting profit.
The industry has lost 6.9% over the past year against the Zacks S&P 500 composite's growth of 32.2% and the Finance sector’s return of 12.1%.
Image Source: Zacks Investment Research
Here we focus on two property and casualty insurers, namely Cincinnati Financial Corporation (CINF - Free Report) and W.R. Berkley Corporation (WRB - Free Report) .
Cincinnati Financial, with a market capitalization of $24.75 billion, provides property casualty insurance products in the United States. W.R. Berkley, with a market capitalization of $23.93 billion, is an insurance holding company that provides property and casualty reinsurance products and operates as a commercial line writer worldwide. CINF and WRB carry a Zacks Rank #3 (Hold) each at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Driving ForcesGlobal commercial insurance rates declined, on average, by 5% in the first quarter of 2026, following a 4% decline in the fourth quarter of 2025. This marked the seventh consecutive quarter of rate decreases, per the Marsh Global Insurance Market Index. The downward rate movement continues to be driven by abundant capacity and intense insurer competition across most major product lines, per the Marsh Global Insurance Market Index.
Price hikes, operational strength, higher retention, strong renewal and the appointment of retail agents should help write higher premiums. Per Deloitte Insights, gross premiums are estimated to exceed $722 billion by 2030.
Aon has estimated that global insured catastrophe losses amounted to at least $20 billion in the first quarter of 2026, 6% above the 21st-century average. Aon’s report also noted that natural catastrophes in the United States accounted for more than 75% of global insured losses in the first quarter of 2026, reaching around $16 billion.
Per Gallagher Re, global natural catastrophe events in the first quarter of 2026 resulted in an estimated $58 billion in direct economic losses. Per Gallagher Re, in the first quarter of 2026, global and regional natural catastrophe activity and loss totals were comparatively lower than the first three months of previous years.
Underwriting profit is likely to have benefited from better pricing, reinsurance arrangements, portfolio repositioning, reinsurance covers and favorable reserve development.
The Fed left the federal funds rate steady at the 3.5-3.75% target range for a second consecutive meeting in March 2026, in line with expectations. The Fed still projects a single rate cut in 2026, but also expects inflation and economic growth to rise from its previous projections.
A larger investment asset base, strong cash flow from operating activities, higher bond yields and an increase in interest income from fixed-maturity securities are expected to have aided net investment income.
The insurance industry’s increased use of technology like blockchain, artificial intelligence, advanced analytics, telematics, cloud computing and robotic process automation expedites business operations. Insurers continue to invest heavily in technology to improve basis points, scale and efficiencies. These investments are likely to have curbed costs and aided the margins of insurers in the first quarter.
A solid capital position is likely to have aided insurers in strategic mergers and acquisitions to sharpen their competitive edge, expand geographically and diversify their portfolio. Sustained wealth distribution to shareholders via dividend hikes, special dividends and share repurchases instill confidence in the insurers.
Let’s delve deeper into specific parameters to ascertain which P&C insurer is better positioned at the moment.
Price Performance Shares of Cincinnati Financial have climbed 6.6% in the past year against W.R. Berkley’s decline of 13.1%.
Image Source: Zacks Investment Research
Return on Equity W.R. Berkley, with a ROE of 18.9%, exceeds Cincinnati Financial’s ROE of 10.5% and the industry average of 7.4%.
Image Source: Zacks Investment Research
Valuation The price-to-book value is the best multiple used for valuing insurers. Compared with WRB’s P/B ratio of 2.46, CINF is cheaper, with a reading of 1.58. The P&C insurance industry’s P/B ratio is 1.35.
Image Source: Zacks Investment Research
Growth Projection The Zacks Consensus Estimate for 2026 earnings indicates 8.3% growth from the year-ago reported figure for CINF, while the same for WRB implies an increase of 7.8%.
Dividend Yield Cincinnati Financial’s dividend yield of 2.3% is better than W.R. Berkley’s dividend yield of 0.5%. Thus, Cincinnati Financial has an advantage over W.R. Berkley on this front.
Revenue Estimates The Zacks Consensus Estimate for CINF and WRB's 2026 revenues implies a year-over-year increase of 7.9% and 2.8%, respectively.
Therefore, CINF is at an advantage on this front.
Earnings Surprise History Cincinnati Financial has a solid record of beating earnings estimates in each of the last four quarters, with an average being 27.54%. W.R. Berkley beat earnings estimates in three of the last four quarters and missed in one, with an average being 4.73%.
Hence, CINF has an edge in this regard over WRB.
To ConcludeOur comparative analysis shows that Cincinnati Financial is better positioned than W.R. Berkley with respect to price, valuation, growth projection, dividend yield, earnings surprise history and revenue estimates. Meanwhile, WRB scores higher in terms of return on equity. With the scale majorly tilted toward CINF, the stock appears to be better poised.
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.7% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: W.R. Berkley (WRB - Free Report) Founded in 1967 and based in Greenwich, CT, W.R. Berkley Corp. is a Fortune 500 company. It is one of the nation’s largest commercial lines property casualty insurance providers. The company offers a variety of insurance services from reinsurance to workers’ comp third-party administrators (TPAs) across the United States and in 87 other countries.
WRB is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 13.78; value investors should take notice.
Eight analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.09 to $4.67 per share. WRB boasts an average earnings surprise of +4.7%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, WRB should be on investors' short list.
