Track market-moving stories before they get noisy

Key Takeaways UMB Financial reported Q1 EPS of $3.41, beating estimates and rising from $2.58 a year ago.UMBF saw NII jump 34.4% and revenues hike 30.9%, aided by loan growth and HTLF acquisition.UMB Financial cut expenses and improved its efficiency ratio to 48.4%, boosting profitability metrics. UMB Financial Corp. (UMBF - Free Report) reported first-quarter 2026 operating earnings per share of $3.41, beating the Zacks Consensus Estimate of $2.82. The bottom line also increased from $2.58 in the year-ago quarter. 

The company delivered a strong quarterly performance, supported by solid growth in net interest income (NII), higher non-interest income and continued loan growth. Lower non-interest expenses and improved efficiency further supported results.

Net income (GAAP basis) available to common shareholders for UMBF was $255.6 million in the first quarter, soaring 222.3% from the year-ago quarter.

UMB Financial’s Revenues Rise, Expenses FallQuarterly revenues were $747.9 million, rising 30.9% year over year. The metric beat the Zacks Consensus Estimate by 5.9%.

NII was $534.4 million, up 34.4% from the prior-year quarter and 2.3% sequentially.

On a fully-taxable-equivalent basis, the net interest margin was 3.38%, up 42 basis points year over year and nine basis points sequentially. The increase was primarily led by lower yields on interest-bearing deposits due to mix shift and repricing of deposits following the reduction in short-term interest rates.

Non-interest income was $204.8 million, up 23.2% year over year. The increase was primarily driven by higher trust and securities processing income, investment securities gains, other income, brokerage income, bankcard income and service charges on deposit accounts.

Non-interest expenses were $380.9 million, down 1% year over year. First-quarter 2026 expenses included $4.4 million in total acquisition-related and other non-recurring costs. Operating non-interest expenses (adjusted basis) were $375.4 million, up 13.6% year over year.
The efficiency ratio improved to 48.4% from the prior-year quarter’s 65.2%. A decline in the efficiency ratio indicates an increase in profitability.

UMBF’s Loans & Deposit Balances RiseAverage loans for the first quarter were $39.4 billion, up 2.7% sequentially and 21.9% from the prior-year quarter. End-of-period loans stood at $40.1 billion as of March 31, 2026.

Average deposits remained flat sequentially and increased 14.5% year over year to $57.6 billion. The increase from the first quarter of 2025 reflected the impacts of acquired HTLF balances.

UMB Financial’s Credit Quality: Mixed BagNet charge-offs totaled $18.9 million, or 0.19% of average loans, compared with $35.9 million, or 0.45%, in the year-ago quarter.

Total non-accrual and restructured loans were $151.3 million compared with $100.9 million in the year-ago quarter.

The provision for credit losses was $27 million in the first quarter of 2026, down from $86 million in the prior-year quarter.

UMBF’s Capital Ratios ImproveAs of March 31, 2026, the Tier 1 risk-based capital ratio was 11.74% compared with 10.35% as of March 31, 2025. The Tier 1 leverage ratio was 8.73% compared with 8.47% in the year-ago quarter. The total risk-based capital ratio was 13.53%, up from 12.54% a year ago.

In March 2026, the company repurchased 178,249 common shares at a weighted average price of $111.62 for a total repurchase of $19.9 million. The board also increased the share repurchase authorization to 2 million shares from one million shares previously.

UMB Financial’s Profitability Ratios ImproveReturn on average assets at the first-quarter end was 1.47% compared with the year-ago quarter’s 0.54%.

Return on average common equity was 13.70% compared with 5.86% in the year-ago quarter.

Our Take on UMBFUMB Financial posted robust first-quarter 2026 results, driven by strong net interest income growth, higher non-interest income and margin expansion. The company also benefited from continued loan growth, the impacts of acquired HTLF balances and improved operating efficiency.

Lower non-interest expenses and improved profitability ratios were positives. Going forward, continued balance sheet growth, disciplined expense management and prudent risk management will be the key to sustaining UMBF’s performance momentum.

UMB Financial Corporation Price, Consensus and EPS Surprise

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

Performances of Other BanksBOK Financial Corporation's (BOKF - Free Report) first-quarter 2026 earnings of $2.58 per share surpassed the Zacks Consensus Estimate of $2.30. The bottom line jumped 38.7% from the prior-year quarter.

BOKF’s results benefited from higher NII and total fees and commissions. An increase in loans was another positive. However, the rise in operating expenses was a major undermining factor.

First Horizon Corporation (FHN - Free Report) posted first-quarter 2026 earnings per share of 53 cents, surpassing the Zacks Consensus Estimate of 49 cents. This compares favorably with 42 cents in the year-ago quarter. 

FHN’s results benefited from higher NII and a rise in non-interest income, along with improved credit quality. However, the rise in expenses remains a headwind.

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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.

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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 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 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 +23.93% 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.

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Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

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Stock to Watch: UMB Financial (UMBF - Free Report) Headquartered in Kansas City, MO, UMB Financial Corporation provides banking services and asset servicing in the United States. Its banking subsidiary — UMB Bank, National Association — offers banking, asset management, trust, credit card and cash-management services to commercial, retail, government and correspondent-bank customers.

UMBF is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 10.27; value investors should take notice.

For fiscal 2026, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.62 to $12.59 per share. UMBF boasts an average earnings surprise of +17.4%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, UMBF should be on investors' short list.

Investors looking for stocks in the Banks - Midwest sector might want to consider either UMB Financial (UMBF) or Commerce Bancshares (CBSH). But which of these two companies is the best option for those looking for undervalued stocks?

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 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 also includes 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 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 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 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.

#1 (Strong Buy) stocks have produced an unmatched +23.93% 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.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing 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: UMB Financial (UMBF - Free Report) Headquartered in Kansas City, MO, UMB Financial Corporation provides banking services and asset servicing in the United States. Its banking subsidiary — UMB Bank, National Association — offers banking, asset management, trust, credit card and cash-management services to commercial, retail, government and correspondent-bank customers.

UMBF is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of B.

Momentum investors should take note of this Finance stock. UMBF has a Momentum Style Score of B, and shares are up 11.6% over the past four weeks.

Four analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.78 to $12.77 per share. UMBF also boasts an average earnings surprise of +17.4%.

With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, UMBF should be on investors' short list.

KANSAS CITY, Mo.--(BUSINESS WIRE)--UMB Bank announced today strong annual growth in its Institutional Custody business. As of March 31, 2026, the company held $250 billion in assets under custody, a 19% year-over-year increase from the same period in 2025, and a 298% increase since custody became a standalone business in 2019.

Led by Executive Vice President, Executive Director of Institutional Custody Amy Small, UMB’s Institutional Custody division serves fund managers, municipalities, insurance providers, and other institutional clients.

Key growth drivers include:

Strong client growth in municipal government and insurance sectors Increasing popularity of private funds and semi-liquid funds Need for liquidity solutions among asset managers, including reverse repo and, in collaboration with UMB’s commercial bank, lines of credit Many municipal governments and asset managers are now managing more complex investment portfolios than in past years and need additional middle-office services such as risk monitoring, collateral management, and treasury/liquidity support functions. This is clearly demonstrated by the significant growth UMB has experienced in this area.

“In addition to size, increased complexity is driving the need for specialized services for government and other political subdivisions,” Small said. “We’ve seen a similar evolution of business needs among insurance companies, where middle-office services often focus on non-traditional asset servicing for alternative investments, foreign exchange capabilities, regulatory reporting, securities lending, and collateral management.”

Most recently, the City of Fort Worth selected UMB to provide custodial services for their multi-billion-dollar operations. This work expands UMB’s growing presence in Texas, which also includes commercial banking, private wealth management and retail banking.

“The City of Fort Worth manages a large and increasingly complex investment portfolio, and having a strong custodial partner is essential to maintaining effective oversight, liquidity, and operational efficiency,” said Alex Laufer, City of Fort Worth assistant director of finance, city treasurer. “UMB’s capabilities will help strengthen our operational infrastructure, enhance risk management, and support the City’s long-term financial stewardship as our needs continue to evolve.”

UMB’s business has also grown as asset managers seek specialized support for private and semi-liquid funds. For these complex assets, robust middle-office services are crucial to an asset manager's operational efficiency. Some conversions from other custodians have involved bringing hundreds of funds and their corresponding demand deposit accounts (DDAs).

“Until 2018, UMB’s custody function was an add-on service for clients of UMB Fund Services, which is a national leader in registered and alternative investment fund administration services,” said Small. “Now, we collaborate closely with our fund accounting and administration colleagues for fund custody, while also serving custody-specific businesses across multiple market segments, including insurance, government, pensions, and other private sectors.”

Finally, liquidity solutions among asset managers continue to have high demand as asset managers navigate volatile markets—a trend that is driving growth for UMB’s custody and commercial teams. UMB offers both reverse repo and line of credit liquidity options for insurance companies, asset managers and other institutions that have custody assets with UMB. Notably, UMB offers committed reverse repo facilities in addition to the more common uncommitted facilities.

These complementary services recently resulted in UMB attracting a major, third-party provider of liquidity solutions to asset managers. In October 2025, ReFlow Fund, LLC (ReFlow) initiated both custody services and credit facilities with UMB. ReFlow aims to help mutual fund managers reduce the cost of redemptions—or shareholder flows—to other investors in a fund.

“UMB has been nothing short of amazing to work with,” said Evan Smith of ReFlow Services, LLC. “Their ability to customize and automate custody solutions as well as integrate in-house credit facilities in a seamless way have been integral to us expanding our business.”

As Institutional Custody has grown as a standalone business segment within UMB, the team has broadened its offerings and enhanced its technology, including:

Developed enhanced straight through processing capabilities Launched in-house foreign exchange services Introduced self-service options for client convenience Added collective investment trustee services Expanded directed trustee role for insurance and pension clients Broadened ETF full-service capabilities Implemented FDIC sweeps for overnight cash balances Integrated custody and treasury platforms “As the industry landscape and business needs continue to evolve, we are extremely focused on being proactive and mindful of what this means for our clients and how we can strategically serve and advise,” Small said. “While we excel at completing the work we know and have today, we’re equally intent on ensuring we understand and plan for how we serve our clients’ future needs as well. We expect this, along with our continued focus on evolving with the industry and delivering best-in-class services and expertise, to continue to drive our business success now and in the future.”

About UMB:

UMB Financial Corporation (Nasdaq: UMBF) is a financial services company headquartered in Kansas City, Missouri. UMB offers commercial banking, which includes comprehensive deposit, lending, investment and retirement plan services; personal banking, which includes comprehensive deposit, lending, wealth management and financial planning services; and institutional banking, which includes asset servicing, corporate trust solutions, investment banking and healthcare services. UMB operates branches throughout Missouri, Arizona, California, Colorado, Iowa, Kansas, Illinois, Minnesota, Nebraska, New Mexico, Oklahoma, Texas, Utah and Wisconsin. As the company’s reach continues to grow, it also serves business clients nationwide and institutional clients in several countries. For more information, visit UMB.com, UMB Blog, UMB Facebook and UMB LinkedIn.

Key Takeaways UMBF shares rose 18.3% in six months, outperforming industry and peers, ASB and HBAN.UMB Financial gains support from Heartland acquisition, rising NII and fee income.UMBF faces higher expenses and concentrated lending, though earnings estimates trend higher. UMB Financial Corporation (UMBF - Free Report) shares have gained 18.3% in the past six months, outperforming the industry’s growth of 0.3%. The stock has also outperformed its close peers like Associated Banc-Corp (ASB - Free Report) and Huntington Bancshares Incorporated (HBAN - Free Report) over the same time frame.

Over the past six months, shares of Associated Banc-Corp have risen 9.4%, while Huntington Bancshares’ stock has lost 1.2%.

Price Performance
Image Source: Zacks Investment Research

Does the UMB Financial stock have more upside left despite its recent strength in share price? Let us find out.

What’s Aiding UMB Financial’s Performance?Heartland Financial Acquisition Aids Balance Sheet Growth: UMBF completed the acquisition of Heartland Financial USA in January 2025, marking the largest acquisition in the company’s history. The deal expanded the company’s geographic footprint from eight to 13 states and increased total assets to nearly $68 billion.

The acquisition significantly strengthened the company’s balance sheet and business scale. Its total loans and deposits witnessed five-year compound annual growth rates (CAGR) of 19.3% and 17.5%, respectively, during 2020-2025, supported by organic growth and the Heartland Financial deal. Notably, the acquisition added $9.8 billion of loans and $14.3 billion of deposits.

The growth momentum continued in the first quarter of 2026, with both loans and deposits increasing year over year. Further, management noted that loan and deposit pipelines remain broad-based across markets, reflecting continued business momentum and integration synergies. Hence, the acquisition and steady balance sheet growth are expected to continue supporting UMBF’s financial performance in the upcoming period.

Fed’s Interest Rate Cuts to Aid NII: UMB Financial’s net interest income (NII) saw a five-year CAGR of 20.6% through 2025, supported by balance sheet growth and funding mix. In the first quarter of 2026, NII rose year over year, driven by lower funding/ deposit costs.

Though the Fed has kept interest rates unchanged so far in 2026 amid increased economic uncertainty stemming from the Middle East conflict and evolving labor market conditions, it has reduced interest rates by 175 basis points since 2024. Going forward, lower interest rates and stabilizing funding costs and decent loan demand will keep supporting NII expansion for UMBF.

NII Trend
Image Source: UMB Financial Corporation

Diversified Fee Income Base Supports Growth: UMB Financial has been steadily shifting its business mix toward fee-based revenues to reduce dependence on spread income. Its non-interest income witnessed a five-year CAGR of 7.1% through 2025, driven by continued expansion in fund services and private wealth management businesses. The momentum continued in the first quarter of 2026, with the metric rising 23.3% year over year. The increase was primarily driven by growth in fund services and corporate trust businesses, along with higher deposit service charges and investment banking revenues.

Management noted that pipelines remain active across fund services, corporate trust and private wealth businesses. Hence, continued business momentum and diversified revenue streams are expected to support fee income growth in the upcoming period.

Ample Liquidity Supports Capital Distribution Activities: The company’s strong liquidity position remains encouraging. As of March 31, 2026, UMB Financial had cash and interest-bearing due from banks of $6.4 billion, while total debt was $4.1 billion.

Further, UMB Financial continues to enhance shareholder value through steady capital distribution activities. The company has raised dividends annually since 2002, with the latest dividend increase of 7.5% announced in October 2025. The company has a payout ratio of 14% and a current dividend yield of 1.31%.

Dividend Yield
Image Source: Zacks Investment Research

Similarly, ASB and HBAN consistently pay steady dividends. In 2025, Associated Banc-Corp raised its quarterly dividend 4.3% to 24 cents per share, while Huntington Bancshares has maintained a quarterly dividend of 16 cents per share since its 3.3% hike announced in 2021.

Apart from regular dividend payments, UMBF also maintains a share repurchase program. In the first quarter of 2026, the board increased the share repurchase authorization to 2 million shares from 1 million shares previously. Management also noted that it remains opportunistic regarding buybacks while prioritizing organic growth. Given its solid liquidity profile and sustainable payout levels relative to the broader industry, UMBF appears well-positioned to sustain its capital distribution activities going forward.

Few Concerns Persist for UMBFElevated Expenses: Rising expenses remain a key concern for UMB Financial. Its non-interest expenses witnessed a CAGR of 14.6% over the last five years (2020-2025), primarily driven by business expansion efforts and Heartland Financial integration costs.

Though non-interest expenses declined modestly in the first quarter of 2026, management expects operating expenses in the second quarter of 2026 to increase from the first-quarter reported level. Hence, the elevated expense base is likely to weigh on bottom-line growth in the upcoming period.

Expense Growth Trend
Image Source: Zacks Investment Research

Lack of Loan Portfolio Diversification: The majority of UMB Financial’s loan portfolio remains concentrated in commercial lending. As of March 31, 2026, commercial loans, comprising commercial and industrial as well as commercial real estate loans, accounted for nearly 84% of total average loans.

The rapidly evolving macroeconomic environment continues to affect commercial lending activity and the asset quality of this loan category. In the first quarter of 2026, net charge-offs were 0.19% of average loans, while non-performing loans were 0.38% of total loans. Thus, the lack of loan portfolio diversification could hurt the company’s financials if economic conditions worsen.

Analyzing UMBF’s Earnings Estimates & ValuationThe Zacks Consensus Estimate for UMBF’s 2026 and 2027 earnings indicates a 12.5% and 6.3% rise, respectively. Over the past month, the earnings estimates for 2026 and 2027 have been revised upward.

Estimates Revision Trend
Image Source: Zacks Investment Research

In terms of valuation, UMBF stock appears expensive relative to the industry. The company is currently trading at a 12-month trailing price-to-earnings (P/E) of 10.02X, which is higher than the industry’s 9.98X.

Price-to-Earnings F12 M
Image Source: Zacks Investment Research

Meanwhile, Associated Banc-Corp has a forward 12-month P/E ratio of 9.16, while Huntington Bancshares’ P/E ratio stands at 9.44.

Final Thoughts on UMBF StockWhile elevated expenses, concentrated commercial loan exposure and a relatively premium valuation remain near-term concerns, these risks appear manageable given UMB Financial’s strong balance sheet and improving scale following the Heartland Financial acquisition.

Further, the company’s diversified revenue mix, supported by rising fee income from fund services and private wealth businesses, strengthens its financial stability despite a mixed macroeconomic backdrop. Moreover, positive earnings estimate revisions reflect analysts’ optimism regarding UMB Financial’s earnings growth potential.

Overall, UMBF appears to be a solid option for investors seeking exposure to a well-capitalized bank with stable profitability, diversified revenue streams and sustainable growth prospects.

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

GREENWICH, Conn., April 13, 2026 (GLOBE NEWSWIRE) -- GXO Logistics, Inc. (NYSE: GXO) will hold its first quarter 2026 earnings conference call and webcast on Wednesday, May 6, 2026, at 8:30 a.m. Eastern Time. The company’s results will be released after market close on Tuesday, May 5, 2026, and made available at that time on investors.gxo.com.

Access information:
Call toll-free from U.S./Canada: 877-407-8029
International callers: +1 201-689-8029
Conference ID: 13759863
Live webcast: investors.gxo.com

A replay of the conference call will be available for approximately two weeks, until May 20, 2026, by calling toll-free (from U.S./Canada) 877-660-6853; international callers dial +1 201‑612‑7415. Use the passcode 13759863.

About GXO Logistics

GXO Logistics, Inc. (NYSE: GXO) is the world’s largest pure-play contract logistics provider and is positioned to capitalize on the rapid growth of ecommerce, automation and outsourcing. GXO has more than 150,000 team members across more than 1,000 facilities totaling more than 200 million square feet. The company serves the world’s leading blue-chip companies to solve complex logistics challenges with technologically advanced supply chain and ecommerce solutions, at scale and with speed. GXO corporate headquarters is in Greenwich, Connecticut. Visit GXO.com for more information and connect with GXO on LinkedIn, X, Facebook, Instagram and YouTube.

Investor Contact

Kristine Kubacki, CFA
 +1 203-769-7206
[email protected]

The Zacks Transportation sector is widely diversified in nature, including airlines, railroads, package delivery companies and truckers, to name a few. Per the latest Earnings Outlook, first-quarter 2026 earnings of the S&P 500 members of the sector are expected to increase 6.6% year over year. Revenues are estimated to be up 3.7%.

With a vast majority of players from this diversified sector yet to report their financial numbers, we expect the likes of Union Pacific Corporation (UNP - Free Report) , Expeditors International of Washington (EXPD - Free Report) and GXO Logistics (GXO - Free Report) to report better-than-expected earnings despite headwinds like high fuel costs induced by the Iran war, tariff-induced uncertainty, inflation-related woes and supply-chain disruptions.

The ongoing conflict in the Middle East has resulted in a sharp jump in oil prices, which were up more than 50% in March itself, sending shockwaves worldwide. Traffic in the critical shipping route, the Strait of Hormuz (significant percentages of the world's total oil and liquefied natural gas pass through it daily), has been highly affected ever since the war began. High fuel costs are naturally hurting the bottom line of transportation stocks. This is because fuel expenses represent a key input cost for a transportation company. 

Despite the oil price-led headwind, there are factors that are likely to have boosted the sector participants’ first-quarter performance. Let's delve deep.

The recovery in the freight scenario is a huge positive and should boost first-quarter 2026 results of railroads, freight forwarders and other sectoral players dependent on freight. Highlighting improving freight demand, the Cass Freight Shipments Index gained 3% month-to-month in March 2026.

The ongoing cost-control efforts are expected to have contributed to improved profitability. The continued strength of e-commerce remains a key tailwind for the sector. For airline stocks in the sector, bookings have remained strong, leading to the expectation that air-travel demand strength would, in all likelihood, offset the negative effects of high fuel costs, in turn aiding results. The increasing ticket prices are likely to cover the double-digit increase in this key input cost for transportation players.

Shipping companies are also showing resilience in the face of inflation, trade tensions and supply-chain disruptions, particularly those focused on operational efficiency and strategic growth initiatives.

Given this backdrop, we have zeroed in on three transportation companies likely to beat the Zacks Consensus Estimate for earnings in their upcoming releases. However, the task of selecting potential outperformers is not easy, given that the sector is densely populated.

How to Identify Potential Outperformers?With several transportation firms thronging the investment space, it is by no means an easy task for investors to arrive at stocks that have the potential to deliver better-than-expected earnings. While it is impossible to be sure about such outperformers, our proprietary methodology makes the task fairly simple.

Our research shows that for stocks with the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), the chance of a positive earnings surprise is as high as 70%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Earnings ESP is our proprietary methodology for determining stocks that have the best chances to surprise with their next earnings announcement. It is the percentage difference between the Most Accurate Estimate and the Zacks Consensus Estimate.

Our ChoicesHeadquartered in Omaha, NE, Union Pacific operates a rail network spanning 23 states across the western two-thirds of the United States, serving as a vital component of the global supply chain. The railroad operator currently has an Earnings ESP of +0.24% and a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.

The company is scheduled to report its first-quarter 2026 results on April 23. Union Pacific’s efforts to reward its shareholders through dividends and share buybacks are commendable. With the freight scene on the mend, the company’s performance is likely to have been aided. The company’s earnings surpassed the Zacks Consensus Estimate in two of the last four quarters (missing the mark on the other two occasions), with the average miss being 1.34%.

Expeditors, a leading third-party logistics provider, is based in Seattle, WA. EXPD currently has an Earnings ESP of +1.25% and a Zacks Rank of 3. The company is scheduled to report first-quarter 2026 results on May 5. 

The improvement in the freight scene and cost-cutting efforts are likely to boost Expeditors’ first-quarter results. EXPD’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 10.08%.

GXO Logistics, a pure-play contract logistics provider, is headquartered in Greenwich, CT. The company currently has an Earnings ESP of +2.81% and a Zacks Rank of 3. GXO is slated to report first-quarter 2026 results on May 5.

Increased e-commerce, automation and outsourcing are likely to aid the company’s results. Cost-cutting efforts are also likely to have boosted the bottom-line performance of GXO. The company’s earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, with the average beat being 4.86%.

The Zacks Transportation-Air Freight and Cargo industry is still dealing with persistent supply-chain challenges. The macroeconomic environment remains strained, with volatility stemming from the Iran conflict further dampening market sentiment.

Nevertheless, we believe the industry retains growth prospects, especially for companies emphasizing expansion initiatives and operational efficiencies. Despite the reopening of economies, consumer appetite for online shopping continues to be robust. Cost-control measures aimed at enhancing profitability are also encouraging. Companies such as United Parcel Service (UPS - Free Report) , FedEx (FDX - Free Report) and GXO Logistics (GXO - Free Report) are successfully leveraging these favorable dynamics.

Industry Overview The companies belonging to the Zacks Transportation-Air Freight and Cargo industry provide air delivery and freight services. Most players in the space are involved in offering specialized transportation and logistics services. Some participants offer a range of supply-chain solutions, such as freight forwarding, customs brokerage, fulfillment, returns, financial transactions and repairs. The well-being of the companies in this industrial cohort is directly proportional to the health of the economy. Leading industry players, including FedEx, transport millions of packages each day across the globe. Apart from operating a ground fleet of multiple vehicles, some of these companies maintain an air fleet. While some players focus on providing air transportation services for passengers and cargo, others deliver services to entities that outsource air-cargo lifting requirements.

4 Key Trends to Watch in the Transportation-Air Freight & Cargo Industry Emphasis on Shareholder Returns: As economic activity rebounds from pandemic-era lows, companies are increasingly using their growing cash reserves to reward shareholders through dividends and share buybacks. This reflects both financial resilience and confidence in future prospects. Within the Transportation-Air Freight and Cargo space, FedEx raised its quarterly dividend by 5.1% in 2025.

Cost-Control Measures to Support Profitability: Although inflation has shown some signs of easing, it remains elevated. The industry continues to face cost pressures, including higher expenses for labor, freight and fuel. To counter softer demand conditions, companies are prioritizing cost reductions while enhancing productivity and operational efficiency. These efforts have paid off, as evidenced by FedEx’s stronger-than-expected performance in the third quarter of fiscal 2026.

Demand Weakness Remains a Key Challenge: A slowdown in shipping demand, especially across Asia and Europe, is weighing on volumes. Subdued shipment levels are impacting the performance of major players in the industry. Ongoing geopolitical tensions and persistently high inflation are dampening consumer sentiment and growth outlooks. Additionally, weak freight rates are further constraining industry prospects.

E-commerce Continues to Be a Key Driver: While e-commerce growth has moderated from the surge seen during the pandemic due to economic reopening, it remains solid. The convenience of online shopping continues to support demand, alongside ongoing digitalization trends. Strength in e-commerce is expected to remain a crucial growth driver for companies in the industry. 

Zacks Industry Rank Indicates Bullish Trends The Zacks Air Freight and Cargo industry, housed within the broader Zacks Transportation sector, currently carries a Zacks Industry Rank #93. This rank places it in the top 38% of 243 Zacks industries.

The group’s Zacks Industry Rank, the average of the Zacks Rank of all member stocks, indicates sunny near-term prospects. 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.

The industry’s position in the top 50% of the Zacks-ranked industries is a result of a positive earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are gradually gaining in confidence in this group’s earnings growth potential. The industry's earnings estimate for 2026 has increased 2% since February 2026.

Before we present a few stocks from the industry that investors can retain in their portfolios, let’s take a look at the industry’s recent stock market performance and the valuation picture.

Industry Surpasses the S&P 500 and the Sector The Zacks Air Freight and Cargo industry has outperformed the Zacks S&P 500 composite as well as the broader Transportation sector over the past year.

The industry has gained 41.6% over this period compared with the S&P 500’s rise of 38.9% and the broader sector’s 33% uptick.

One-Year Price Performance

Industry's Current Valuation On the basis of the trailing 12-month enterprise value-to-EBITDA (EV/EBITDA), a commonly used multiple for valuing Transportation-Air Freight and Cargo stocks, the industry is currently trading at 11.22X compared with the S&P 500’s 18.58X. It is also lower than the sector’s trailing 12-month EV/EBITDA of 11.75X.

Over the past five years, the industry has traded as high as 13.42X, as low as 7.4X and at the median of 10.08X.

Enterprise Value-to-EBITDA Ratio (TTM)

3 Transportation-Air Freight and Cargo Stocks to Keep a Tab On The aforementioned stocks presently carry a Zacks Rank #3 (Hold) each. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 

UPS: The company is based in Atlanta. We are appreciative of the company's efforts to reward its shareholders through dividends and buybacks. Robust free cash flow generation by UPS is a major positive and leads to an uptick in shareholder-friendly activities.

Cost-cutting efforts are supporting its bottom line. Impressive e-commerce demand and expansion efforts should serve UPS well in the coming year. Its earnings outshone the Zacks Consensus Estimate in three of the past four quarters and missed once, the average beat being 10.72%.

Price and Consensus: UPS

FedEx: The company’s efforts to reward its shareholders even in these uncertain times are praiseworthy. Apart from paying dividends, FDX is active on the buyback front. FedEx's liquidity position is also solid. FDX’s efforts to cut costs are driving its bottom line.

The company’s earnings surpassed the Zacks Consensus Estimate in each of the past four quarters. The average beat is 13.13%.

Price and Consensus: FDX

GXO Logistics: We are impressed by GXO’s efforts to strengthen its logistics capabilities. Increased e-commerce, automation and outsourcing are serving the company well.

GXO’s earnings surpassed the Zacks Consensus Estimate in each of the past four quarters, the average beat being 5.25%. Its shares have surged 79% over the past year.

Price and Consensus: GXO

Innovative automated solution speeds loading operations to two minutes while reducing material consumption, standardizing processes and enhancing safety

WARSAW, Poland, April 28, 2026 (GLOBE NEWSWIRE) -- GXO Logistics, Inc. (NYSE: GXO), the world’s largest pure‑play contract logistics provider, announced today that it has implemented the first Autoload system in Europe for Grupa Żywiec in Elbląg, one of the leading beer producers. The new technology significantly increases throughput, enhances workplace safety and elevates operational standards within the companies’ longstanding partnership.

“We are proud to introduce another joint innovation with Grupa Żywiec, our trusted partner for over seven years,” said Jean‑Luc Bessade, GXO’s Managing Director for Central Europe. “As a technology leader and early adopter of advanced automation, GXO continues to set new benchmarks for operational performance. With nearly 50% of our Central Europe revenue generated from automated operations, our continuous improvement mindset enables us to deliver measurable efficiency gains and support our customers’ long-term growth.”

Automation that transforms processes: faster, safer and more efficient

The Autoload system (Automated Truck Loader System), launched earlier this year, automates trailer loading and unloading, replacing traditional forklift operations. While standard processes require loading each pallet individually, Autoload completes the full trailer movement in a one‑shot cycle, reducing operation time to around two minutes. Its precise mechanical action eliminates human error risk, increases safety by reducing Material Handling Equipment activity in loading docks, ensures stable and repeatable process quality, and is scalable, with the ability to integrate with existing warehouse automation. The system also enables a higher number of transport movements using the same infrastructure, improving efficiency and reducing operational costs.

“In an increasingly complex food and beverage supply chain, GXO stands out as a trusted partner who understands our specific needs,” Michał Kalinowski, Contract Logistics Manager
Grupa Żywiec. “By leveraging advanced technology, GXO helps us boost productivity, safety and sustainability, allowing us to focus our resources on what matters most – growing our core business.”

To see the Autoload in action at GXO, click here.

Partnership rooted in sustainability and operational excellence

The Autoload installation is the latest innovation in a partnership that spans more than a decade. Over the course of the partnership, GXO and Grupa Żywiec have implemented several ESG initiatives which have delivered a significant reduction in energy consumption and a significant decrease in glass usage thanks to returns process improvements.

GXO remains a pioneer of advanced logistics solutions, with the rollout of Autoload supporting its Operational Excellence and continuous improvement approach. The launch builds on prior implementations which include AMR robots, ProGlove and Cognex scanners, automated packing solutions and integrated warehouse management systems to ensure seamless processes from production lines through to final delivery.

About GXO
GXO Logistics, Inc. (NYSE: GXO) is the world’s largest pure-play contract logistics provider and is positioned to capitalize on the rapid growth of ecommerce, automation and outsourcing. GXO has over 150,000 team members across more than 1,000 facilities, totaling more than 200 million square feet. The company serves the world’s leading blue-chip companies to solve complex logistics challenges with technologically advanced supply chain and ecommerce solutions, at scale and with speed. GXO corporate headquarters is in Greenwich, Connecticut. Visit GXO.com for more information and connect with GXO on LinkedIn, X, Facebook, Instagram and YouTube.

Media contacts

Barbara Tokarz
+48 538 626 625
[email protected]

Matthew Schmidt
+1 203-307-2809
[email protected]

GXO implements Autoload system for Grupa Żywiec

GXO implements Autoload system for Grupa Żywiec GXO has implemented the first Autoload system in Europe for Grupa Żywiec.

Wall Street expects a year-over-year increase in earnings on higher revenues when GXO Logistics (GXO - Free Report) reports results for the quarter ended March 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on May 5, 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 contract logistics provider is expected to post quarterly earnings of $0.37 per share in its upcoming report, which represents a year-over-year change of +27.6%.

Revenues are expected to be $3.22 billion, up 8.1% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.78% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

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

Price, Consensus and EPS Surprise

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

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 GXO Logistics?For GXO Logistics, 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 +2.81%.

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

So, this combination indicates that GXO Logistics 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 GXO Logistics would post earnings of $0.83 per share when it actually produced earnings of $0.87, delivering a surprise of +4.82%.

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

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

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

GXO Logistics 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.

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

Revenue of $3.3 billion, up 10.8% year over year, with organic revenue growth of 4.1%$227 million of new business wins across key verticals, with approximately 40% in strategic growth sectors — aerospace & defense, technology, industrial and life sciences Record sales pipeline of $2.7 billionRaises full-year 2026 guidance for adjusted EBITDA and adjusted diluted EPS GREENWICH, Conn., May 05, 2026 (GLOBE NEWSWIRE) -- GXO Logistics, Inc. (NYSE: GXO) today announced results for the first quarter 2026.

Patrick Kelleher, chief executive officer of GXO, said, “2026 is off to a strong start. In the first quarter, we delivered strong revenue growth and profitability, underscoring the strength and predictability of our business model. Our commercial efforts are driving wins in higher margin growth verticals, including aerospace & defense, technology, industrial and life sciences, and we’re seeing demand accelerating, with our pipeline growing to an all-time high of $2.7 billion.

“Three priorities are powering our path forward – sharpening our commercial strategy, strengthening execution, and leading in AI and next-generation automation, and we made good progress in each this quarter. Our commercial momentum is building, especially in North America where our pipeline grew 35% sequentially. We’re implementing a global framework for standardizing and scaling excellence and our deployment of AI, automation and robotics is accelerating.

“Given our better-than-expected performance in the first quarter, we are raising our full-year adjusted EBITDA and adjusted EPS guidance. We look forward to sharing additional detail on our long‑term strategy and financial framework at our Investor Day following our third quarter earnings later this year.”

First Quarter 2026 Results

Revenue increased to $3.3 billion, up 10.8% year over year, compared with $3.0 billion for the first quarter 2025. Organic revenue1 grew by 4.1%.

Net income was $5 million, compared with a net loss of $95 million for the first quarter 2025. Diluted earnings per share was $0.03, compared with a diluted loss per share of $0.81 for the first quarter 2025.

Adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA1”) was $200 million, compared with $163 million for the first quarter 2025. Adjusted EBITDA1 for the quarter included a $12.5 million net year-over-year benefit, primarily from an early site exit and the timing of contract termination costs.

Adjusted diluted earnings per share (“adjusted diluted EPS1”) was $0.50, compared with $0.29 for the first quarter 2025.

GXO generated $31 million of cash flow from operations, compared with $29 million for the first quarter 2025. In the first quarter of 2026, free cash flow1 was a use of $31 million, compared with $48 million used for the first quarter 2025.

Cash Balances and Outstanding Debt

As of March 31, 2026, cash and cash equivalents (excluding restricted cash), total debt outstanding and net debt1 were $794 million, $3.1 billion and $2.3 billion, respectively.

Updated 2026 Guidance2

The Company updated its guidance for the full year 2026 as follows:

Organic revenue growth1 of 4% to 5%;Adjusted EBITDA1 of $935 million to $975 million up from $930 million to $970 million;Adjusted diluted EPS1 of $2.90 to $3.20 up from $2.85 to $3.15; andFree cash flow conversion1 of 30% to 40%. Conference Call

GXO will hold a conference call on Wednesday, May 6, 2026, at 8:30 a.m. Eastern Time. Participants can call toll free (from US/Canada) 877-407-8029; international callers dial +1 201-689-8029. Conference ID: 13759863. A live webcast of the conference will be available on the Investor Relations area of the company’s website, investors.gxo.com. The conference will be archived until May 20, 2026. To access the replay by phone, call toll-free (from US/Canada) 877-660-6853; international callers dial +1 201-612-7415. Use participant passcode 13759863.

About GXO Logistics

GXO Logistics, Inc. (NYSE: GXO) is the world’s largest pure-play contract logistics provider and is positioned to capitalize on the rapid growth of ecommerce, automation and outsourcing. GXO has over 150,000 team members across more than 1,000 facilities totaling more than 200 million square feet. The company serves the world’s leading blue-chip companies to solve complex logistics challenges with technologically advanced supply chain and ecommerce solutions, at scale and with speed. GXO corporate headquarters is in Greenwich, Connecticut. Visit GXO.com for more information and connect with GXO on LinkedIn, X, Facebook, Instagram and YouTube.

Non-GAAP Financial Measures

As required by the rules of the Securities and Exchange Commission (“SEC”), we provide reconciliations of the non-GAAP financial measures contained in this press release to the most directly comparable measure under GAAP, which are set forth in the attached financial tables.

GXO’s non-GAAP financial measures in this press release include: adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA”), adjusted EBITDA margin, adjusted earnings before interest, taxes and amortization (“adjusted EBITA”), adjusted EBITA, net of income taxes paid/received, adjusted EBITA margin, adjusted net income attributable to GXO, adjusted earnings per share (basic and diluted) (“adjusted EPS”), free cash flow, free cash flow conversion, organic revenue, organic revenue growth, net leverage ratio, net debt, and operating return on invested capital (“ROIC”).

We believe that the above adjusted financial measures facilitate analysis of our ongoing business operations because they exclude items that may not be reflective of, or are unrelated to, GXO’s core operating performance, and may assist investors with comparisons to prior periods and assessing trends in our underlying businesses. Other companies may calculate these non-GAAP financial measures differently, and therefore our measures may not be comparable to similarly titled measures used by other companies. GXO’s non-GAAP financial measures should only be used as supplemental measures of our operating performance.

Adjusted EBITDA, adjusted EBITA, adjusted net income attributable to GXO and adjusted EPS include adjustments for transaction and integration costs, restructuring costs and unrealized gain/loss on FX contracts, a regulatory matter as well as net loss on divestiture of business, as set forth in the attached financial tables. Transaction and integration adjustments are generally incremental costs that result from an actual or planned acquisition and may include consulting fees, retention awards, internal salaries and wages (to the extent the individuals are assigned full-time to integration and transformation activities), and certain costs related to integrating and separating IT systems. Restructuring costs and other primarily consisted of severance paid to exiting members of the Company’s leadership team and to individuals as part of an initiative to optimize corporate expenses. The regulatory matter relates to a regulatory settlement. And net loss on divestiture of business primarily relates to the write-down loss resulting from the held-for-sale classification.

We believe that adjusted EBITDA, adjusted EBITDA margin, adjusted EBITA, adjusted EBITA, net of income taxes paid/received, and adjusted EBITA margin, improve comparability from period to period by removing the impact of our capital structure (interest expense), asset base (depreciation and amortization), tax impacts and other adjustments as set forth in the attached financial tables, which management has determined are not reflective of core operating activities and thereby assist investors with assessing trends in our underlying businesses.

We believe that organic revenue and organic revenue growth are important measures because they exclude the impact of foreign currency exchange rate fluctuations.

We believe that adjusted net income attributable to GXO and adjusted EPS improve the comparability of our operating results from period to period by removing the impact of certain costs and gains as set forth in the attached financial tables, which management has determined are not reflective of our core operating activities, including amortization of intangible assets acquired.

We believe that free cash flow and free cash flow conversion are important measures of our ability to repay maturing debt or fund other uses of capital that we believe will enhance stockholder value. We calculate free cash flow as cash flows from operations less capital expenditures plus proceeds from sale of property and equipment. We calculate free cash flow conversion as free cash flow divided by adjusted EBITDA, expressed as a percentage.

We believe that net debt and net leverage ratio are important measures of our overall liquidity position and are calculated by removing cash and cash equivalents (excluding restricted cash) from our total debt and net debt as a ratio of our trailing twelve months adjusted EBITDA. We calculate ROIC as our trailing twelve months adjusted EBITA, net of income taxes paid/received, divided by the average invested capital. We believe ROIC provides investors with an important perspective on how effectively GXO deploys capital and use this metric internally as a high-level target to assess overall performance throughout the business cycle.

Management uses these non-GAAP financial measures in making financial, operating and planning decisions and evaluating GXO’s ongoing performance.

With respect to our financial targets for full-year 2026 organic revenue growth, adjusted EBITDA, adjusted diluted EPS, and free cash flow conversion, a reconciliation of these non-GAAP measures to the corresponding GAAP measures is not available without unreasonable effort due to the variability and complexity of the reconciling items described above that we exclude from these non-GAAP target measures. The variability of these items may have a significant impact on our future GAAP financial results and, as a result, we are unable to prepare forward-looking statements of income and cash flows in accordance with GAAP, that would be required to produce such a reconciliation.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements, including our full-year 2026 financial guidance of organic revenue growth, adjusted EBITDA, adjusted diluted EPS and free cash flow conversion. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as “anticipate,” “estimate,” “believe,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “should,” “will,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target,” “trajectory” or the negative of these terms or other comparable terms. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements are based on certain assumptions and analyses made by the company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors the company believes are appropriate in the circumstances.

These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Factors that might cause or contribute to a material difference include, but are not limited to, the risks discussed in our filings with the SEC and the following: economic conditions generally; supply chain challenges, including labor shortages; competition and pricing pressures; our ability to align our investments in capital assets, including equipment, service centers and warehouses, to our respective customers’ demands; our ability to successfully integrate and realize anticipated benefits, synergies, cost savings and profit improvement opportunities with respect to acquired companies, including the acquisition of Wincanton; acquisitions may be unsuccessful or result in other risks or developments that adversely affect our financial condition and results; our ability to develop and implement suitable information technology systems and prevent failures in or breaches of such systems; our indebtedness; our ability to raise debt and equity capital; litigation; labor matters, including our ability to manage our subcontractors, and risks associated with labor disputes at our customers’ facilities and efforts by labor organizations to organize our employees; risks associated with defined benefit plans for our current and former employees; our ability to attract or retain necessary talent; the increased costs associated with labor; fluctuations in currency exchange rates; fluctuations in fixed and floating interest rates; fluctuations in customer confidence and spending; issues related to our intellectual property rights; governmental regulation, including environmental laws, trade compliance laws, as well as changes in international trade policies and tax regimes; governmental or political actions, including the United Kingdom’s exit from the European Union; natural disasters, terrorist attacks or similar incidents; damage to our reputation; a material disruption of our operations; the inability to achieve the level of revenue growth, cash generation, cost savings, improvement in profitability and margins, fiscal discipline, or strengthening of competitiveness and operations anticipated or targeted; failure in properly handling the inventory of our customers; failure to successfully incorporate artificial intelligence and humanoids in
connection with our growth strategy; the impact of potential cyber-attacks and information technology or data security breaches; and the inability to implement technology initiatives or business systems successfully; our ability to achieve Environmental, Social and Governance goals; and a determination by the IRS that the distribution or certain related spin-off transactions should be treated as taxable transactions. Other unknown or unpredictable factors could cause actual results to differ materially from those in the forward-looking statements. Such forward-looking statements should therefore be construed in the light of such factors.

All forward-looking statements set forth in this release are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by us will be realized or, even if substantially realized, that they will have the expected consequences to or effects on us or our business or operations. Forward-looking statements set forth in this release speak only as of the date hereof, and we do not undertake any obligation to update forward-looking statements to reflect subsequent events or circumstances, changes in expectations or the occurrence of unanticipated events, except to the extent required by law.

Investor Contact

Kristine Kubacki, CFA
+1 (203) 769-7206
[email protected]

Media Contact

Matthew Schmidt
+1 (203) 307-2809
[email protected]

GXO Logistics, Inc.
Condensed Consolidated Statements of Operations
(Unaudited)  Three Months Ended March 31,(Dollars in millions, shares in thousands, except per share amounts)  2026   2025 Revenue $3,298  $2,977 Direct operating expense  2,808   2,558 Selling, general and administrative expense  296   261 Depreciation and amortization expense  115   109 Transaction and integration costs  16   22 Restructuring costs and other  3   17 Regulatory matter  —   66 Net loss on divestiture of business  21   — Operating income (loss)  39   (56)Other income (expense), net  10   (5)Interest expense, net  (32)  (32)Income (loss) before income taxes  17   (93)Income tax expense  (12)  (2)Net income (loss)  5   (95)Net income attributable to noncontrolling interests (“NCI”)  (1)  (1)Net income (loss) attributable to GXO $4  $(96)     Earnings (loss) per share    Basic $0.03  $(0.81)Diluted $0.03  $(0.81)     Weighted-average shares outstanding used in computation of earnings (loss) per share    Basic  114,710   118,991 Diluted  115,840   118,991  GXO Logistics, Inc.
Condensed Consolidated Balance Sheets
(Unaudited)  March 31, December 31,(Dollars in millions, shares in thousands, except per share amounts)  2026   2025 ASSETS    Current assets    Cash and cash equivalents $794  $854 Accounts receivable, net of allowance of $15 and $15  2,020   2,028 Other current assets  397   406 Total current assets  3,211   3,288 Long-term assets    Property and equipment, net of accumulated depreciation of $2,179 and $2,126  1,181   1,151 Operating lease assets  2,630   2,563 Goodwill  3,730   3,781 Intangible assets, net of accumulated amortization of $780 and $781  865   909 Other long-term assets  577   570 Total long-term assets  8,983   8,974 Total assets $12,194  $12,262 LIABILITIES AND EQUITY    Current liabilities    Accounts payable $713  $758 Accrued expenses  1,437   1,492 Current debt  463   446 Current operating lease liabilities  749   745 Other current liabilities  413   434 Total current liabilities  3,775   3,875 Long-term liabilities    Long-term debt  2,646   2,619 Long-term operating lease liabilities  2,102   2,044 Other long-term liabilities  668   709 Total long-term liabilities  5,416   5,372 Commitments and Contingencies    Stockholders’ Equity    Common Stock, $0.01 par value per share; 300,000 shares authorized, 120,380 and 119,868 shares issued and 115,024 and 114,512 shares outstanding, respectively  1   1 Treasury stock, at cost; 5,356 and 5,356 shares, respectively  (202)  (202)Preferred Stock, $0.01 par value per share; 10,000 shares authorized, 0 issued and outstanding  —   — Additional Paid-In Capital (“APIC”)  2,669   2,667 Retained earnings  722   718 Accumulated Other Comprehensive Income (Loss) (“AOCIL”)  (222)  (201)Total stockholders’ equity before NCI  2,968   2,983 NCI  35   32 Total equity  3,003   3,015 Total liabilities and equity $12,194  $12,262  GXO Logistics, Inc.
Condensed Consolidated Statements of Cash Flows
(Unaudited)  Three Months Ended March 31,(In millions)  2026   2025 Cash flows from operating activities:    Net income (loss) $5  $(95)Adjustments to reconcile net income (loss) to net cash provided by operating activities    Depreciation and amortization expense  115   109 Stock-based compensation expense  10   12 Deferred tax benefit  (3)  (10)Other  2   5 Changes in operating assets and liabilities    Accounts receivable  (26)  (49)Other assets  (2)  91 Accounts payable  (39)  (88)Accrued expenses and other liabilities  (31)  54 Net cash provided by operating activities  31   29 Cash flows from investing activities:    Capital expenditures  (65)  (78)Proceeds from sale of property and equipment  3   1 Net cash used in investing activities  (62)  (77)Cash flows from financing activities:    Common stock repurchased  —   (106)Net borrowings under revolving credit facilities  —   56 Repayments of finance lease obligations  (14)  (11)Proceeds from exercise of stock options  7   — Taxes paid related to net share settlement of equity awards  (15)  (6)Other  (4)  1 Net cash used in financing activities  (26)  (66)Effect of exchange rates on cash and cash equivalents  (3)  11 Net decrease in cash, restricted cash and cash equivalents  (60)  (103)Cash, restricted cash and cash equivalents, beginning of period  857   485 Cash, restricted cash and cash equivalents, end of period $797  $382      Non-cash financing activities:    Unsettled stock repurchases for which trades occurred $—  $4 Excise tax liability related to stock repurchases  —   1      Reconciliation of cash, restricted cash and cash equivalents March 31, 2026 December 31, 2025Cash and cash equivalents $794  $854 Restricted Cash (included in Other current assets)  2   2 Restricted Cash (included in Other long-term assets)  1   1 Total cash, restricted cash and cash equivalents $797  $857  GXO Logistics, Inc.
Key Data
Disaggregation of Revenue
(Unaudited)Revenue disaggregated by geographical area was as follows:

  Three Months Ended March 31,
(In millions)  2026   2025 United Kingdom $1,595  $1,391 United States  751   752 Netherlands  270   232 France  208   186 Spain  162   143 Italy  109   95 Other  203   178 Total $3,298  $2,977  The Company’s revenue can also be disaggregated by various verticals, reflecting the customers’ principal industry. Revenue disaggregated by industry was as follows:

  Three Months Ended March 31,
(In millions)  2026   2025 Omnichannel retail $1,561  $1,422 Technology and consumer electronics  433   393 Industrial and manufacturing  394   362 Consumer packaged goods  334   284 Food and beverage  317   314 Other  259   202 Total $3,298  $2,977  GXO Logistics, Inc.
Reconciliation of Net Income (Loss) to Adjusted EBITDA
and Adjusted EBITDA Margins
(Unaudited)  Three Months Ended March 31, Year Ended
December 31, 2025
 Trailing Twelve
Months Ended
March 31, 2026
(In millions)  2026   2025   Net income (loss) attributable to GXO $4  $(96) $32  $132 Net income attributable to NCI  1   1   4   4 Net income (loss) $5  $(95) $36  $136 Interest expense, net  32   32   133   133 Income tax expense  12   2   68   78 Depreciation and amortization expense  115   109   457   463 Transaction and integration costs  16   22   54   48 Restructuring costs and other  3   17   27   13 Regulatory matter  —   66   65   (1)Net loss on divestiture of business  21   —   34   55 Unrealized (gain) loss on foreign currency contracts  (4)  10   7   (7)Adjusted EBITDA(1) $200  $163  $881  $918           Revenue $3,298  $2,977      Operating income (loss) $39  $(56)     Operating income (loss) margin(2)  1.2%  (1.9)%     Adjusted EBITDA margin(1)(3)  6.1%  5.5%     (1) See the “Non-GAAP Financial Measures” section of this press release.
(2) Operating income (loss) margin is calculated as operating income (loss) divided by revenue for the period.
(3) Adjusted EBITDA margin is calculated as adjusted EBITDA divided by revenue for the period.
GXO Logistics, Inc.
Reconciliation of Net Income (Loss) to Adjusted EBITA
and Adjusted EBITA Margins
(Unaudited)  Three Months Ended March 31, Year Ended
December 31, 2025
 Trailing Twelve
Months Ended
March 31, 2026
(In millions)  2026   2025   Net income (loss) attributable to GXO $4  $(96) $32  $132 Net income attributable to NCI  1   1   4   4 Net income (loss) $5  $(95) $36  $136 Interest expense, net  32   32   133   133 Income tax expense  12   2   68   78 Amortization of intangible assets acquired  29   29   119   119 Transaction and integration costs  16   22   54   48 Restructuring costs and other  3   17   27   13 Regulatory matter  —   66   65   (1)Net loss on divestiture of business  21   —   34   55 Unrealized (gain) loss on foreign currency contracts  (4)  10   7   (7)Adjusted EBITA(1) $114  $83  $543  $574           Revenue $3,298  $2,977      Adjusted EBITA margin(1)(2)  3.5%  2.8%     (1) See the “Non-GAAP Financial Measures” section of this press release.
(2) Adjusted EBITA margin is calculated as adjusted EBITA divided by revenue for the period.
GXO Logistics, Inc.
Reconciliation of Net Income (Loss) to Adjusted Net Income
and Adjusted Earnings Per Share
(Unaudited)(Dollars in millions, shares in thousands, except per share amounts)
 Three Months Ended March 31,  2026   2025 Net income (loss) $5  $(95)Net income attributable to NCI  (1)  (1)Net income (loss) attributable to GXO $4  $(96)Amortization of intangible assets acquired  29   29 Transaction and integration costs  16   22 Restructuring costs and other  3   17 Regulatory matter  —   66 Net loss on divestiture of business  21   — Unrealized (gain) loss on foreign currency contracts  (4)  10 Income tax associated with the adjustments above(1)  (11)  (14)Adjusted net income attributable to GXO(2) $58  $34      Adjusted basic EPS(2) $0.51  $0.29 Adjusted diluted EPS(2) $0.50  $0.29      Weighted-average shares outstanding used in computation of adjusted earnings per share    Basic  114,710   118,991 Diluted(3)  115,840   119,288 (1) The income tax rate applied to items is based on the GAAP annual effective tax rate.
(2) See the “Non-GAAP Financial Measures” section of this press release.
(3) The three months ended March 31, 2025 calculation of loss per share – diluted (GAAP) excludes 297 thousand shares due to their anti-dilutive effect. GXO Logistics, Inc.
Other Reconciliations
(Unaudited)Reconciliation of Cash Flows from Operations to Free Cash Flow:  Three Months Ended March 31,(In millions)  2026   2025 Cash flows from operations(1) $31  $29 Capital expenditures  (65)  (78)Proceeds from sale of property and equipment  3   1 Free cash flow(2) $(31) $(48)(1) Net cash provided by operating activities.
(2) See the “Non-GAAP Financial Measures” section of this press release.
Reconciliation of Revenue to Organic Revenue:

  Three Months Ended March 31,
(In millions)  2026   2025 Revenue $3,298  $2,977 Foreign exchange rates  (198)  — Organic revenue(1) $3,100  $2,977       Revenue growth(2)  10.8%   Organic revenue growth(1)(3)  4.1%   (1) See the “Non-GAAP Financial Measures” section of this press release.
(2) Revenue growth is calculated as the change in the period-over-period revenue divided by the prior period, expressed as a percentage.
(3) Organic revenue growth is calculated as the change in the period-over-period organic revenue divided by the prior period, expressed as a percentage.
GXO Logistics, Inc.
Liquidity Reconciliations
(Unaudited)Reconciliation of Total Debt and Net Debt:(In millions) March 31, 2026Current debt $463 Long-term debt  2,646 Total debt(1) $3,109 Less: Cash and cash equivalents (excluding restricted cash)  (794)Net debt(2) $2,315 (1) Includes finance leases and other debt of $379 million as of March 31, 2026.
(2) See the “Non-GAAP Financial Measures” section of this press release.
Reconciliation of Total debt to Net income Ratio:

(In millions) March 31, 2026
Total debt $3,109 Trailing twelve months net income $136 Debt to net income ratio 22.9x Reconciliation of Net Leverage Ratio:(In millions) March 31, 2026
Net debt(1) $2,315 Trailing twelve months adjusted EBITDA(1) $918 Net leverage ratio(1) 2.5x(1) See the “Non-GAAP Financial Measures” section of this press release.
  GXO Logistics, Inc.
Return on Invested Capital
(Unaudited)Adjusted EBITA, net of income taxes paid/received:  Three Months Ended March 31,
 Year Ended
December 31, 2025
 Trailing Twelve
Months Ended
March 31, 2026
(In millions)  2026   2025   Adjusted EBITA(1) $114  $83  $543  $574 Less: Cash (paid) received for income taxes  (6)  8   (59)  (73)Adjusted EBITA(1), net of income taxes paid/received $108  $91  $484  $501 (1) See the “Non-GAAP Financial Measures” section of this press release.
Return on Invested Capital (ROIC):  March 31,  (In millions)  2026   2025  AverageSelected Assets:      Accounts receivable, net $2,020  $1,895  $1,958 Other current assets  397   446   422 Property and equipment, net  1,181   1,216   1,199 Selected Liabilities:      Accounts payable $(713) $(720) $(717)Accrued expenses  (1,437)  (1,398)  (1,418)Other current liabilities  (413)  (396)  (405)Invested capital $1,035  $1,043  $1,039        Trailing twelve months net income to average invested capital      13.1%Operating return on invested capital(1)(2)      48.2%(1) See the “Non-GAAP Financial Measures” section of this press release.
(2) The ratio of operating return on invested capital is calculated as trailing twelve months adjusted EBITA, net of income taxes paid/received, divided by the average invested capital.
_______________________________________
1 For definitions of non-GAAP measures see the “Non-GAAP Financial Measures” section in this press release.
2 Our guidance reflects current FX rates.

GXO Logistics, Inc. (GXO) Q1 2026 Earnings Call Transcript

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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.

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Logistics leader has once again made the prestigious “Best Place to Work” list thanks to its commitment to talent, training, and technological innovation MADRID, May 18, 2026 (GLOBE NEWSWIRE) -- GXO Logistics, Inc. (NYSE: GXO), the world's largest pure‑play contract logistics provider, has been recognized by Forbes as one of the “Best Places to Work” in Spain in 2026. This recognition, which the company has now received six times, reaffirms its ongoing commitment to the professional development, well-being, and inclusion of its employees.

Strategic agreement builds on more than 15 years of global partnership and supports L'Oréal's dynamic growth across Central Europe

Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does BOK Financial (BOKF) have what it takes?

TULSA, OK / ACCESS Newswire / March 31, 2026 / Scott Andrews has been promoted to fill the role of specialized industries banking executive for BOK Financial, effective Dec. 1, following the retirement of Brad Vincent. In this role, Andrews will lead BOK Financial's specialized business, including commercial real estate, commercial strategies, dealer financial services, energy, healthcare, loan syndications and TransFund.

BOK Financial (NASDAQ: BOKF - Get Free Report) is expected to be releasing its Q1 2026 results after the market closes on Monday, April 20th. Analysts expect BOK Financial to post earnings of $2.30 per share and revenue of $549.71 million for the quarter. Individuals can find conference call details on the company's upcoming Q1 2026

BOK Financial Corporation is rated Hold due to elevated valuation despite operational strengths and potential for a Q1 2026 earnings beat. BOKF has outperformed peers, rising 52% in the last year, but trades at a forward PE above 13 and a price/TBV of 1.69. Q1 2026 could be strong, with loan growth expected in upper single-digits and net interest income projected to rise 12%.

BOK Financial (BOKF) came out with quarterly earnings of $2.58 per share, beating the Zacks Consensus Estimate of $2.3 per share. This compares to earnings of $1.86 per share a year ago.

BOK Financial Corporation (BOKF) Q1 2026 Earnings Call Transcript

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? 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.

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 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.

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#1 (Strong Buy) stocks have produced an unmatched +23.93% 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.

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Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: BOK Financial (BOKF - Free Report) BOK Financial Corporation is a regional financial services company, headquartered in Tulsa, OK. Its principal subsidiary — BOKF, NA (“the Bank”) — operates TransFund, Cavanal Hill Investment Management and BOK Financial Asset Management, Inc. Its operating divisions include Bank of Albuquerque, Bank of Oklahoma, Bank of Texas, BOK Financial in Arizona, Arkansas, Colorado and Kansas/Missouri as well as having limited purpose offices in Nebraska, Wisconsin and Connecticut. Other wholly owned subsidiaries include the broker/dealer subsidiary BOK Financial Securities, Inc. and BOK Financial Private Wealth, Inc.

BOKF is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.

Momentum investors should take note of this Finance stock. BOKF has a Momentum Style Score of A, and shares are up 6.3% over the past four weeks.

Two analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.46 to $10.25 per share. BOKF also boasts an average earnings surprise of +11.2%.

With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, BOKF should be on investors' short list.

It has been about a month since the last earnings report for BOK Financial (BOKF - Free Report) . Shares have lost about 5.3% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is BOK Financial due for a breakout? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent drivers for BOK Financial Corporation before we dive into how investors and analysts have reacted as of late.

BOK Financial Q1 Earnings Beat Estimates as NII & Fee Income Rise Y/YBOK Financial’s first-quarter 2026 earnings of $2.58 per share surpassed the Zacks Consensus Estimate of $2.30. The bottom line jumped 38.7% from the prior-year quarter.

Results benefited from higher net interest income and total fees and commissions. An increase in loans was another positive. However, the rise in operating expenses was a major undermining factor.

Net income attributable to shareholders was $155.7 million, which rose 30% year over year.

Revenues & Expenses RiseQuarterly net revenues of $553.8 million (net interest income and total other operating revenues) rose 10.3% year over year. The top line surpassed the Zacks Consensus Estimate of $546.8 million.

Net interest income was $342.6 million, up 8.3% year over year. The net interest margin expanded 12 basis points to 2.90%.

Total fees and commissions were $209.8 million, up 13.9% year over year. The rise was driven by an increase in almost all components except other revenues.

Total other operating expenses were $354.2 million, up 1.9% year over year. This rise was mainly driven by business promotion, professional fees and services, net occupancy and equipment, data processing and communications, printing, postage, and supplies, mortgage banking costs and other expense.

The efficiency ratio was 63.21% compared with the prior year quarter’s 68.31%. A fall in the efficiency ratio indicates a rise in profitability.

Loans Rise & Deposits Decline SequentiallyAs of March 31, 2026, total loans were $26.2 billion, up 2.1% from the prior quarter. The increase was driven by growth in commercial loans, commercial real estate loans and loans to individuals.

Total deposits were $38.7 billion, down 1.9% sequentially. The decline was due to lower demand and interest-bearing transaction deposits, partially offset by growth in time and savings deposits.

Credit Quality: Mixed BagAs of March 31, 2026, non-performing assets were $60 million or 0.23% of outstanding loans and repossessed assets compared with $85.3 million or 0.36% in the prior-year quarter.

The company recorded nil provisions for credit losses, unchanged from the prior-year quarter.

The company recorded net charge-offs of $1.9 million compared with $1.1 million in the year-ago quarter.

The allowance for loan losses was 1.06% of outstanding loans as of March 31, 2026, which declined 12 bps from the year-ago quarter.

Capital Ratios Decline & Profitability Ratios ImproveAs of March 31, 2026, the common equity Tier 1 capital ratio was 12.61% compared with 13.31% a year earlier. The tier 1 capital ratio and total capital ratio were 12.61% and 14.39%, respectively, compared with 13.31% and 14.54%, as of March 31, 2025.

At the end of the first quarter, return on average equity was 10.49%, up from the year-earlier quarter’s 8.59%. Return on average assets was 1.19%, up from 0.95% a year ago.

Share Repurchase UpdateThe company did not repurchase any shares during the first quarter of 2026.

2026 OutlookThe company expects loan growth of 10% from the 2025 reported level.

Management expects NII of $1.42-$1.45 billion for 2026, indicating a rise from the $1.3 billion recorded in 2025.

Total fees and commission revenues are anticipated to be $820-$845 million.

Non-interest expenses (excluding FDIC special assessment) are likely to increase at a low-single-digit rate from the $1.43 billion reported in 2025.

Total revenues are expected to grow in the mid-single-digit range from the $2.2 billion reported in 2025.

Management expects the efficiency ratio to be 63%. 

Provisions are expected to be $15-$35 million.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in estimates revision.

VGM ScoresCurrently, BOK Financial has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. Charting a somewhat similar path, the stock has a score of C on the value side, putting it in the middle 20% for value investors.

Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been trending upward for the stock, and the magnitude of this revision looks promising. It comes with little surprise BOK Financial has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.

New York, New York--(Newsfile Corp. - June 7, 2026) - Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against LKQ Corporation (NASDAQ: LKQ) and certain of its officers.

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired LKQ securities between February 27, 2023 and July 23, 2025, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/LKQ.

LKQ Case Details

The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that:

LKQ's acquisition and integration of FinishMaster did not present the "minimal integration risk" Defendants had represented; the acquisition was not the "compelling strategic fit" purported to enhance LKQ's business and drive profitable growth; FinishMaster did not meaningfully improve LKQ's scale or product mix to compete in the North American automotive paint segment as touted; and as a result, Defendants' public statements regarding the acquisition, integration prospects, and related benefits were materially false and misleading at all relevant times.What's Next for LKQ Investors?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/LKQ, or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in LKQ you have until June 22, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.

No Cost to LKQ Investors

We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman, LLC for LKQ Securities Class Action?

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com

"Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace," said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/294706

Source: Bronstein, Gewirtz & Grossman, LLC

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