Key Takeaways IQVIA shares rose 15.3% in a year, outperforming the industry's drop of 7.1%.IQVIA posted a record $34.2B backlog; $8.9B should convert to revenues in the next 12 months.IQV deployed 192 AI agents in 64 use cases; 19 of the top 20 pharma firms use them in workflows. Shares of IQVIA Holdings Inc. (IQV - Free Report) have risen 15.3% over the past year against the industry’s 7.1% fall.
IQV’s revenues are expected to increase 5.7% and 5.9% year over year in 2026 and 2027, respectively. Earnings are anticipated to rise 7.2% in 2026 and 11.1% in 2027.
Factors That Augur Well for IQV’s SuccessRecord Backlog: During the first quarter of 2026 earnings call, Ari Bousbib, the CEO, stated that IQV’s backlog reached a new record of $34.2 billion. Out of the total backlog, $8.9 billion is anticipated to convert to revenues over the upcoming 12 months. It represents approximately 8% year-over-year growth compared with the recast numbers from the preceding year.
AI Fueling Demand: Rapid AI adoption by IQVIA’s clients has increased demand for the company’s differentiated, health-grade capabilities. The company has deployed 192 specialized AI agents across 64 distinct use cases. Importantly, 19 out of the top 20 pharma companies are leveraging these agents within their workflows. IQV successfully managed to secure multi-year partnerships utilizing AI-led data foundations and Data-as-a-Service platforms with Pfizer, Boehringer Ingelheim and many more.
Active Share Repurchase: IQVIA has demonstrated a strong commitment to returning value to its shareholders through an active share repurchase program. In 2025, the company repurchased shares worth $1.24 billion. This substantial buyback not only lowers the total outstanding share count, thereby increasing earnings per share, but also signals management's confidence in the intrinsic value of the stock.
Risks Faced by IQVIAWeak Liquidity Profile: IQVIA’s current ratio at the end of the first quarter of 2026 was 0.75, lower than the industry’s 1.79. A current ratio of less than 1 highlights the fact that the company may have problems paying off its short-term obligations.
Image Source: Zacks Investment Research
No Dividends: The company neither pays dividends nor currently has any plans to do so in the future. Payment of dividends in the future depends on factors such as its financial condition, cash requirements and contractual restrictions. Investors seeking cash dividends should avoid buying IQVIA stock.
IQV’s Zacks Rank & Stocks to ConsiderThe company has a Zacks Rank #3 (Hold) at present.
Some top-ranked stocks from the broader Zacks Medical sector are Bayer (BAYRY - Free Report) and Alignment Healthcare (ALHC - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Bayer has a long-term earnings growth expectation of 2.5%. BAYRY delivered a trailing four-quarter earnings surprise of 23.6%, on average.
Alignment Healthcare has a long-term earnings growth expectation of 38%. ALHC delivered a trailing four-quarter earnings surprise of 198.8%, on average.
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.
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 ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.7% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: IQVIA Holdings (IQV - Free Report) Headquartered in Durham, NC., IQVIA Holdings Inc. provides advanced analytics, technology solutions and contract research services to the life sciences industry. The company was formed through the merger of IMS Health (RX) and Quintiles. The company is focused on helping healthcare clients to better serve patients by bringing in updated and innovative ideas in the process of clinical development and commercialization, speeding innovation and accelerating improvements. IQVIA Holdings operates in more than 100 countries, with around 88,000 employees.
IQV is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 14.26; value investors should take notice.
For fiscal 2026, eight analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.09 to $12.78 per share. IQV boasts an average earnings surprise of +1.6%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, IQV should be on investors' short list.
IQVIA Holdings Inc. (âIQVIAâ) (NYSE: IQV) today announced that its wholly owned subsidiary, IQVIA Inc. (the âIssuerâ), intends to raise â¬950,000,000 t
It has been about a month since the last earnings report for IQVIA Holdings (IQV - Free Report) . Shares have added about 3.2% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is IQVIA due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
IQVIA Surpasses Q1 Earnings EstimatesIQVIA Holdings reported impressive first-quarter 2026 results, wherein earnings and revenues beat the Zacks Consensus Estimate. IQV has posted first-quarter 2026 adjusted earnings of $2.90 per share, beating the Zacks Consensus Estimate of $2.83 by 2.5%. Revenues came in at $4.15 billion, topping the consensus mark of $4.08 billion by 1.6%.
Results improved year over year, with adjusted diluted earnings per share up 7.4% and revenues rising 8.4%. The quarter benefited from better-than-expected organic growth across the business, supported by strengthening demand indicators, including a $34.2-billion contracted backlog in the Research & Development Solutions business.
IQV's Commercial Solutions Growth Leads the QuarterCommercial Solutions delivered the sharpest top-line momentum in the quarter. Segmental revenues were $1.75 billion, increasing 11.6% on a reported basis and 8.5% at constant currency.
Management highlighted notable strength across patient solutions, analytics and consulting, and commercial engagement services. The company also pointed to growing traction in AI-enabled offerings, suggesting product innovation is contributing to sales performance alongside broader market demand.
IQVIA's R&D Franchise Shows Healthier Demand SignalsResearch & Development Solutions revenues were $2.40 billion, up 6.2% on a reported basis and 4.2% at constant currency. Excluding reimbursed expenses, R&D Solutions revenues increased 6.6% reported, reflecting healthier underlying service growth.
Beyond reported revenues, the bookings picture remained constructive. Net new bookings were $2.5 billion, with a first-quarter book-to-bill ratio of 1.04X and a trailing-12-month ratio of 1.11X. The company also expects $8.9 billion of contracted work to convert into revenues over the next 12 months, indicating 7.6% year-over-year growth, offering a clearer line of sight into near-term demand.
IQV's Profit Engine Supports Cash ConversionProfitability remained solid in the quarter, with adjusted EBITDA of $932 million, up 5.5% year over year. GAAP net income attributable to IQVIA was $274 million, reflecting continued earnings power alongside ongoing non-GAAP addbacks tied to restructuring and acquisition-related items.
Cash generation was a key positive. The operating cash flow rose 9% year over year to $618 million, while the free cash flow increased 15% to $491 million. Notably, the free cash flow equaled 100% of adjusted net income, underscoring strong conversion and disciplined working-capital management.
IQVIA's 2026 Outlook Mixes Stability With UpsideIQVIA reaffirmed its 2026 revenue guidance of $17.15-$17.35 billion and maintained its adjusted EBITDA outlook of $3.975-$4.025 billion, signaling confidence in the demand environment and delivery execution across both segments.
The company raised its full-year adjusted diluted earnings per share forecast to $12.65-$12.95, pointing to better operating performance than previously expected. The outlook assumes 150 basis points of acquisition contribution and an estimated 100 basis points of foreign-exchange tailwind, based on exchange rates as of May 4, 2026.
IQV's Balance Sheet & Capital Returns Stay in FocusIQVIA ended the quarter with $1.95 billion in cash and cash equivalents, and total debt of $15.83 billion, translating to net debt of $13.89 billion. The net leverage ratio was 3.62X trailing 12-month adjusted EBITDA, providing context for financial flexibility as the company balances investment needs with shareholder returns.
Capital allocation remained active. IQVIA repurchased $552 million worth of common stock during the quarter and had $1.22 billion remaining under its authorization as of March 31, 2026, reinforcing management’s continued emphasis on returning capital while maintaining leverage within its targeted framework.
How Have Estimates Been Moving Since Then?Since the earnings release, investors have witnessed a flat trend in estimates revision.
VGM ScoresCurrently, IQVIA has a average Growth Score of C, a score with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a score of B on the value side, putting it in the second quintile for value investors.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook IQVIA has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerIQVIA is part of the Zacks Medical - Instruments industry. Over the past month, OPKO Health (OPK - Free Report) , a stock from the same industry, has gained 30.4%. The company reported its results for the quarter ended March 2026 more than a month ago.
OPKO Health reported revenues of $124.2 million in the last reported quarter, representing a year-over-year change of -17.1%. EPS of -$0.07 for the same period compares with -$0.10 a year ago.
For the current quarter, OPKO Health is expected to post a loss of $0.08 per share, indicating a change of +57.9% from the year-ago quarter. The Zacks Consensus Estimate has changed -2.6% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for OPKO Health. Also, the stock has a VGM Score of F.
CSW Industrials continues to deliver strong operational growth, but its valuation remains elevated versus peers and historical norms. Contractor Solutions drove robust revenue and EBITDA growth, supported by acquisitions and exposure to HVAC, electrical, and data center trends. Despite adjusted EPS and revenue beats, absolute and relative valuation multiples justify a continued 'hold' rating.
Shares of MYR Group (MYRG - Free Report) have been strong performers lately, with the stock up 26.8% over the past month. The stock hit a new 52-week high of $331.28 in the previous session. MYR has gained 50.7% since the start of the year compared to the 10.5% move for the Zacks Utilities sector and the -69.2% return for the Zacks Electric Construction industry.
What's Driving the Outperformance?The stock has an impressive record of positive earnings surprises, having beaten the Zacks Consensus Estimate in each of the last four quarters. In its last earnings report on February 25, 2026, MYR reported EPS of $2.33 versus consensus estimate of $1.73.
For the current fiscal year, MYR is expected to post earnings of $9.23 per share on $4.02 in revenues. This represents a 22.58% change in EPS on a 9.8% change in revenues. For the next fiscal year, the company is expected to earn $9.71 per share on $4.27 in revenues. This represents a year-over-year change of 5.16% and 6.28%, respectively.
Valuation MetricsThough MYR has recently hit a 52-week high, what is next for MYR? A key aspect of this question is taking a look at valuation metrics in order to determine if the company has run ahead of itself.
On this front, we can look at the Zacks Style Scores, as these give investors a variety of ways to comb through stocks (beyond looking at the Zacks Rank of a security). These styles are represented by grades running from A to F in the categories of Value, Growth, and Momentum, while there is a combined VGM Score as well. The idea behind the style scores is to help investors pick the most appropriate Zacks Rank stocks based on their individual investment style.
MYR has a Value Score of D. The stock's Growth and Momentum Scores are A and B, respectively, giving the company a VGM Score of B.
In terms of its value breakdown, the stock currently trades at 35.7X current fiscal year EPS estimates, which is a premium to the peer industry average of 31X. On a trailing cash flow basis, the stock currently trades at 27.6X versus its peer group's average of 27.6X. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.
Zacks RankWe also need to look at the Zacks Rank for the stock, as this is even more important than the company's VGM Score. Fortunately, MYR currently has a Zacks Rank of #1 (Strong Buy) thanks to favorable earnings estimate revisions from covering analysts.
Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if MYR passes the test. Thus, it seems as though MYR shares could still be poised for more gains ahead.
Wall Street expects a year-over-year increase in earnings on higher revenues when MYR Group (MYRG - 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 April 29, 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 the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis electrical construction services provider is expected to post quarterly earnings of $2.09 per share in its upcoming report, which represents a year-over-year change of +44.1%.
Revenues are expected to be $947.05 million, up 13.6% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 3.16% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for MYR?For MYR, 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 +8.87%.
On the other hand, the stock currently carries a Zacks Rank of #1.
So, this combination indicates that MYR 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 MYR would post earnings of $1.73 per share when it actually produced earnings of $2.33, delivering a surprise of +34.68%.
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.
MYR 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.
Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering MYR Group (MYRG - Free Report) , which belongs to the Zacks Electric Construction industry.
This electrical construction services provider has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 23.66%.
For the last reported quarter, MYR came out with earnings of $2.33 per share versus the Zacks Consensus Estimate of $1.73 per share, representing a surprise of 34.68%. For the previous quarter, the company was expected to post earnings of $1.82 per share and it actually produced earnings of $2.05 per share, delivering a surprise of 12.64%.
Price and EPS Surprise
With this earnings history in mind, recent estimates have been moving higher for MYR. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
MYR currently has an Earnings ESP of +8.87%, which suggests that analysts have recently become bullish on the company's earnings prospects. This positive Earnings ESP when combined with the stock's Zacks Rank #1 (Strong Buy) indicates that another beat is possibly around the corner. We expect the company's next earnings report to be released on April 29, 2026.
Investors should note, however, that a negative Earnings ESP reading is not indicative of an earnings miss, but a negative value does reduce the predictive power of this metric.
Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
The Utilities group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Centrica PLC (CPYYY - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Utilities sector should help us answer this question.
Centrica PLC is a member of the Utilities sector. This group includes 110 individual stocks and currently holds a Zacks Sector Rank of #5. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Centrica PLC is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CPYYY's full-year earnings has moved 19.2% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, CPYYY has moved about 26.1% on a year-to-date basis. In comparison, Utilities companies have returned an average of 10%. This shows that Centrica PLC is outperforming its peers so far this year.
Another stock in the Utilities sector, MYR Group (MYRG - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 55.3%.
In MYR Group's case, the consensus EPS estimate for the current year increased 11% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Centrica PLC is a member of the Utility - Gas Distribution industry, which includes 13 individual companies and currently sits at #58 in the Zacks Industry Rank. This group has gained an average of 8.6% so far this year, so CPYYY is performing better in this area.
In contrast, MYR Group falls under the Electric Construction industry. Currently, this industry has 2 stocks and is ranked #7. Since the beginning of the year, the industry has moved -66.9%.
Investors with an interest in Utilities stocks should continue to track Centrica PLC and MYR Group. These stocks will be looking to continue their solid performance.
THORNTON, Colo., April 29, 2026 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR or the "Company”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced today its first-quarter 2026 financial results.
Highlights for First Quarter 2026
Quarterly revenues of $1.00 billionRecord quarterly net income of $46.8 million, or $2.99 per diluted shareRecord quarterly EBITDA of $81.5 millionRecord backlog of $2.84 billion Management Comments
Rick Swartz, MYR’s President and CEO, said, “We started the year with strong momentum, delivering year-over-year increases in revenue and gross profit, along with record quarterly net income, EBITDA, and backlog. By deepening relationships with strategic customers and continuing to invest in expanding our geographic footprint and market reach, we are creating meaningful long-term growth opportunities and strengthening our competitive position. We believe our solid financial performance, disciplined execution, and favorable market outlook position us well to sustain this momentum through the remainder of 2026.”
First Quarter Results
MYR reported first-quarter 2026 revenues of $1.00 billion, an increase of $166.8 million, compared to the first quarter of 2025. Specifically, our Transmission and Distribution (“T&D”) segment reported quarterly revenues of $541.0 million, an increase of $79.2 million, from the first quarter of 2025, due to increases in revenue on unit price contracts and T&E contracts, partially offset by a decrease in revenue on fixed price contracts. Our Commercial and Industrial (“C&I”) segment reported quarterly revenues of $459.4 million, an increase of $87.6 million, from the first quarter of 2025, primarily due to an increase in revenue on fixed priced contracts.
Consolidated gross profit increased to $134.4 million in the first quarter of 2026, compared to $96.9 million for the first quarter of 2025. The increase in gross profit was due to higher margin and revenues. Gross margin increased to 13.4 percent for the first quarter of 2026 from 11.6 percent for the first quarter of 2025. The increase in gross margin was primarily due to a larger portion of our projects progressing at higher contractual margins, some of which are nearing completion. In the first quarter of 2026 gross margin was also positively impacted by better-than-anticipated productivity, favorable change orders and a favorable job closeout. These margin increases were partially offset by an increase in costs associated with project inefficiencies on certain projects. Changes in estimates of gross profit on certain projects resulted in a net gross margin increase of 0.8 percent for the first quarter of 2026, compared to a net gross margin decrease of 1.1 percent for the first quarter of 2025.
Selling, general and administrative expenses increased to $69.4 million in the first quarter of 2026, compared to $62.5 million for the first quarter of 2025. The period-over-period increase was primarily due to an increase in employee incentive compensation costs and an increase in employee-related expenses to support future growth.
Interest income increased to $0.9 million in the first quarter of 2026, compared to $0.2 million for the first quarter of 2025. The period-over-period increase was primarily due to higher average balances held in money market accounts in the first quarter of 2026 as compared to the first quarter of 2025.
Interest expense decreased to $0.7 million in the first quarter of 2026, compared to $1.4 million for the first quarter of 2025. The period-over-period decrease was primarily due to lower average outstanding debt balances and lower interest rates during the first quarter of 2026 as compared to the first quarter of 2025.
Income tax expense was $17.2 million for the first quarter of 2026, with an effective tax rate of 26.9 percent, compared to an income tax expense of $9.5 million for the first quarter of 2025, with an effective tax rate of 28.9 percent. The period-over-period change in tax rate was primarily due to a favorable impact from stock compensation excess tax benefits, partially offset by the impact of the net CFC tested income (“NCTI”) and other permanent difference items.
For the first quarter of 2026, net income was $46.8 million, or $2.99 per diluted share, compared to $23.3 million, or $1.45 per diluted share, for the same period of 2025. First-quarter 2026 EBITDA, a non-GAAP financial measure, was $81.5 million, compared to $50.2 million in the first quarter of 2025.
Backlog
As of March 31, 2026, MYR's backlog was $2.84 billion, which was an increase of $203.3 million, or 7.7 percent, from the $2.64 billion reported as of March 31, 2025. As of March 31, 2026, T&D backlog was $980.7 million and C&I backlog was $1.86 billion.
Balance Sheet
As of March 31, 2026, MYR had $460.5 million of borrowing availability under its $490 million revolving credit facility and $163.2 million in cash and cash equivalents.
Non-GAAP Financial Measures
To supplement MYR’s financial statements presented in accordance with generally accepted accounting principles in the United States (“GAAP”), MYR uses certain non-GAAP measures. Reconciliation to the nearest GAAP measures of all non-GAAP measures included in this press release can be found at the end of this release. MYR’s definitions of these non-GAAP measures may differ from similarly titled measures used by others. These non-GAAP measures should be considered supplemental to, and not a substitute for, financial information prepared in accordance with GAAP.
MYR believes that these non-GAAP measures are useful because they (i) provide both management and investors meaningful supplemental information regarding financial performance by excluding certain expenses and benefits that may not be indicative of recurring core business operating results, (ii) permit investors to view MYR’s performance using the same tools that management uses to evaluate MYR’s past performance, reportable business segments and prospects for future performance, (iii) publicly disclose results that are relevant to financial covenants included in MYR’s credit facility and (iv) otherwise provide supplemental information that may be useful to investors in evaluating MYR.
Conference Call
MYR will host a conference call to discuss its first-quarter 2026 results on Thursday, April 30, 2026 at 8:00 a.m. Mountain time. To participate via telephone and join the call live, please register in advance here: https://register-conf.media-server.com/register/BIb2b0665d809c4dcb972f1f82519c1892. Upon registration, telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number and a unique passcode. Participants may access the audio-only webcast of the conference call from the Investors page of MYR Group’s website at myrgroup.com. A replay of the webcast will be available for seven days.
About MYR Group Inc.
MYR Group is a holding company of leading, specialty electrical contractors providing services throughout the United States and Canada through two business segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I). MYR Group subsidiaries have the experience and expertise to complete electrical installations of any type and size. Through their T&D segment they provide services on electric transmission, distribution networks, substation facilities, clean energy projects and electric vehicle charging infrastructure. Their comprehensive T&D services include design, engineering, procurement, construction, upgrade, maintenance and repair services. T&D customers include investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility owners and other contractors. Through their C&I segment, they provide a broad range of services which include the design, installation, maintenance and repair of commercial and industrial wiring generally for data centers, clean energy projects, airports, hospitals, hotels, commercial and industrial facilities, manufacturing plants, processing facilities, water/waste-water treatment facilities, mining facilities, intelligent transportation systems, roadway lighting, signalization, stadiums and electric vehicle charging infrastructure. C&I customers include general contractors, commercial and industrial facility owners, government agencies and developers. For more information, visit myrgroup.com.
Forward-Looking Statements
Various statements in this announcement, including those that express a belief, expectation, or intention, as well as those that are not statements of historical fact, are forward-looking statements. The forward-looking statements may include projections and estimates concerning the timing and success of specific projects and our future production, revenue, income, capital spending, segment improvements and investments. Forward-looking statements are generally accompanied by words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “likely,” “may,” “objective,” “outlook,” “plan,” “project,” “possible,” “potential,” “should,” “unlikely,” or other words that convey the uncertainty of future events or outcomes. The forward-looking statements in this announcement speak only as of the date of this announcement. We disclaim any obligation to update these statements (unless required by securities laws), and we caution you not to rely on them unduly. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. No forward-looking statement can be guaranteed and actual results may differ materially from those projected. Forward-looking statements in this announcement should be evaluated together with the many uncertainties that affect MYR's business, particularly those mentioned in the risk factors and cautionary statements in Item 1A. of MYR's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in any risk factors or cautionary statements contained in MYR's subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K.
MYR Group Inc. Contact:
Jennifer Harper, Vice President, Investor Relations & Treasurer, 847-979-5835, [email protected]
Financial tables follow…
MYR GROUP INC.
Consolidated Balance Sheets
As of March 31, 2026 and December 31, 2025
(in thousands, except share and per share data)March 31,
2026 December 31,
2025 (unaudited) ASSETS Current assets: Cash and cash equivalents$163,192 $150,156 Accounts receivable, net of allowances of $874 and $934, respectively 635,676 603,735 Contract assets, net of allowances of $500 and $534, respectively 224,263 241,766 Current portion of receivable for insurance claims in excess of deductibles 9,287 10,122 Refundable income taxes 1,796 — Prepaid expenses and other current assets 51,035 54,982 Total current assets 1,085,249 1,060,761 Property and equipment, net of accumulated depreciation of $424,415 and $413,962, respectively 307,739 306,386 Operating lease right-of-use assets 50,357 42,448 Goodwill 114,474 115,266 Intangible assets, net of accumulated amortization of $40,949 and $39,967, respectively 70,737 72,476 Receivable for insurance claims in excess of deductibles 19,753 21,358 Deferred income taxes 12,519 12,723 Investment in joint ventures 3,397 3,224 Other assets 9,199 9,437 Total assets$1,673,424 $1,644,079 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Current portion of long-term debt$4,652 $4,554 Current portion of operating lease obligations 12,751 13,019 Current portion of finance lease obligations 799 804 Accounts payable 332,399 314,789 Contract liabilities, net 281,520 300,560 Current portion of accrued self-insurance 28,542 28,499 Accrued income taxes 33,027 15,129 Other current liabilities 133,985 117,923 Total current liabilities 827,675 795,277 Deferred income tax liabilities 49,907 50,119 Long-term debt 4,724 54,483 Accrued self-insurance 41,325 42,827 Operating lease obligations, net of current maturities 37,598 29,429 Finance lease obligations, net of current maturities 998 1,220 Other liabilities 8,378 10,301 Total liabilities 970,605 983,656 Commitments and contingencies Shareholders’ equity: Preferred stock—$0.01 par value per share; 4,000,000 authorized shares; none issued and outstanding at March 31, 2026 and December 31, 2025 — — Common stock—$0.01 par value per share; 100,000,000 authorized shares; 15,568,110 and 15,522,834 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 155 155 Additional paid-in capital 162,373 165,211 Accumulated other comprehensive loss (9,486) (8,183)Retained earnings 549,777 503,240 Total shareholders’ equity 702,819 660,423 Total liabilities and shareholders’ equity$1,673,424 $1,644,079 MYR GROUP INC.
Unaudited Consolidated Statements of Operations
Three Months Ended March 31, 2026 and 2025
Three months ended
March 31,(in thousands, except per share data) 2026 2025 Contract revenues$1,000,380 $833,620 Contract costs 865,940 736,719 Gross profit 134,440 96,901 Selling, general and administrative expenses 69,423 62,524 Amortization of intangible assets 1,217 1,188 Gain on sale of property and equipment (922) (1,101)Income from operations 64,722 34,290 Other income (expense): Interest income 910 191 Interest expense (659) (1,414)Other expense, net (948) (300)Income before provision for income taxes 64,025 32,767 Income tax expense 17,225 9,459 Net income$46,800 $23,308 Income per common share: —Basic$3.01 $1.46 —Diluted$2.99 $1.45 Weighted average number of common shares and potential common shares outstanding: —Basic 15,539 15,994 —Diluted 15,676 16,056 MYR GROUP INC.
Unaudited Consolidated Statements of Cash Flows
Three Months Ended March 31, 2026 and 2025
Three months ended
March 31,(in thousands) 2026 2025 Cash flows from operating activities: Net income$46,800 $23,308 Adjustments to reconcile net income to net cash flows provided by operating activities: Depreciation and amortization of property and equipment 16,546 15,005 Amortization of intangible assets 1,217 1,188 Stock-based compensation expense 3,386 2,333 Gain on sale of property and equipment (922) (1,101)Other non-cash items 294 71 Changes in operating assets and liabilities: Accounts receivable, net (32,573) 84,015 Contract assets, net 16,885 (34,023)Receivable for insurance claims in excess of deductibles 2,440 (305)Other assets 2,955 9,509 Accounts payable 15,715 (7,831)Contract liabilities, net (18,748) (34,932)Accrued self-insurance (1,451) (1,000)Other liabilities 32,205 27,049 Net cash flows provided by operating activities 84,749 83,286 Cash flows from investing activities: Proceeds from sale of property and equipment 954 2,176 Purchases of property and equipment (16,132) (13,066)Net cash flows used in investing activities (15,178) (10,890)Cash flows from financing activities: Borrowings under revolving lines of credit 48,003 230,695 Repayments under revolving lines of credit (95,417) (215,761)Payment of principal obligations under equipment notes (2,247) (2,156)Payment of principal obligations under finance leases (198) (299)Repurchase of common stock — (75,000)Payments related to tax withholding for stock-based compensation (6,487) (2,451)Net cash flows used in financing activities (56,346) (64,972)Effect of exchange rate changes on cash (189) 8 Net increase in cash and cash equivalents 13,036 7,432 Cash and cash equivalents: Beginning of period 150,156 3,464 End of period$163,192 $10,896 MYR GROUP INC.
Unaudited Consolidated Selected Data,
Unaudited Performance Measure and Reconciliation of Non-GAAP Measure
For the Three and Twelve Months Ended March 31, 2026 and 2025 and
As of March 31, 2026, December 31, 2025, March 31, 2025 and March 31, 2024
Three months ended
March 31, Last twelve months ended
March 31, (dollars in thousands, except share and per share data) 2026 2025 2026 2025 Summary Statement of Operations Data: Contract revenues$1,000,380 $833,620 $3,824,649 $3,380,348 Gross profit$134,440 $96,901 $461,325 $300,977 Income from operations$64,722 $34,290 $197,304 $64,101 Income before provision for income taxes$64,025 $32,767 $192,542 $56,164 Income tax expense$17,225 $9,459 $50,634 $21,532 Net income$46,800 $23,308 $141,908 $34,632 Tax rate 26.9% 28.9% 26.3% 38.3% Per Share Data: Income per common share: —Basic$3.01 $1.46 $9.13 (1)$2.19 (1)—Diluted$2.99 $1.45 $9.07 (1)$2.18 (1)Weighted average number of common shares and potential common shares outstanding: —Basic 15,539 15,994 15,531 (2) 16,290 (2)—Diluted 15,676 16,056 15,635 (2) 16,344 (2) (in thousands)March 31,
2026 December 31,
2025 March 31,
2025 March 31,
2024Summary Balance Sheet Data: Total assets$1,673,424 $1,644,079 $1,431,211 $1,489,163Total shareholders’ equity$702,819 $660,423 $548,672 $663,720Goodwill and intangible assets$185,211 $187,742 $187,589 $197,314Total funded debt (3)$9,376 $59,037 $87,159 $37,932 Three months ended
March 31,(dollars in thousands) 2026 2025 Segment Results:Amount Percent Amount PercentContract revenues: Transmission & Distribution$540,970 54.1% $461,769 55.4%Commercial & Industrial 459,410 45.9 371,851 44.6 Total$1,000,380 100.0% $833,620 100.0%Operating income: Transmission & Distribution$52,210 9.7% $36,221 7.8%Commercial & Industrial 37,204 8.1 17,377 4.7 Total 89,414 8.9 53,598 6.4 Corporate (24,692) (2.4) (19,308) (2.3)Consolidated$64,722 6.5% $34,290 4.1% MYR GROUP INC.
Unaudited Performance Measures and Reconciliation of Non-GAAP Measures
Three and Twelve Months Ended March 31, 2026 and 2025
Three months ended
March 31, Last twelve months ended
March 31,(in thousands, except share, per share data, ratios and percentages) 2026 2025 2026 2025 Financial Performance Measures (4): EBITDA (5)$81,537 $50,183 $264,075 $128,137 EBITDA per Diluted Share (6)$5.20 $3.13 $16.89 $7.90 EBIA, net of taxes (7)$47,506 $25,022 $148,024 $41,573 Free Cash Flow (8)$68,617 $70,220 $230,592 $99,490 Book Value per Period End Share (9)$44.75 $35.21 Tangible Book Value (10)$517,608 $361,083 Tangible Book Value per Period End Share (11)$32.96 $23.17 Funded Debt to Equity Ratio (12) 0.01 0.16 Asset Turnover (13) 2.67 2.27 Return on Assets (14) 9.9% 2.3%Return on Equity (15) 25.9% 5.2%Return on Invested Capital (16) 25.2% 6.3% Reconciliation of Non-GAAP Measures: Reconciliation of Net Income to EBITDA: Net income$46,800 $23,308 $141,908 $34,632 Interest (income) expense, net (251) 1,223 3,451 6,421 Income tax expense 17,225 9,459 50,634 21,532 Depreciation and amortization 17,763 16,193 68,082 65,552 EBITDA (5)$81,537 $50,183 $264,075 $128,137 Reconciliation of Net Income per Diluted Share to EBITDA per Diluted Share: Net income per share$2.99 $1.45 $9.07 $2.18 Interest (income) expense, net, per share (0.02) 0.08 0.22 0.39 Income tax expense per share 1.10 0.59 3.24 1.32 Depreciation and amortization per share 1.13 1.01 4.36 4.01 EBITDA per Diluted Share (6)$5.20 $3.13 $16.89 $7.90 Reconciliation of Non-GAAP measure: Net income$46,800 $23,308 $141,908 $34,632 Interest (income) expense, net (251) 1,223 3,451 6,421 Amortization of intangible assets 1,217 1,188 4,847 4,829 Tax impact of interest and amortization of intangible assets (260) (697) (2,182) (4,309)EBIA, net of taxes (7)$47,506 $25,022 $148,024 $41,573 Calculation of Free Cash Flow: Net cash flow from operating activities$84,749 $83,286 $328,030 $162,711 Less: cash used in purchasing property and equipment (16,132) (13,066) (97,438) (63,221)Free Cash Flow (8)$68,617 $70,220 $230,592 $99,490 MYR GROUP INC.
Unaudited Performance Measures and Reconciliation of Non-GAAP Measures
As of March 31, 2026, 2025 and 2024
(in thousands, except per share amounts)March 31, 2026 March 31, 2025Reconciliation of Book Value to Tangible Book Value: Book value (total shareholders' equity)$702,819 $548,672 Goodwill and intangible assets (185,211) (187,589)Tangible Book Value (10)$517,608 $361,083 Reconciliation of Book Value per Period End Share to Tangible Book Value per Period End Share: Book value per period end share$44.75 $35.21 Goodwill and intangible assets per period end share (11.79) (12.04)Tangible Book Value per Period End Share (11)$32.96 $23.17 Calculation of Period End Shares: Shares outstanding 15,568 15,522 Plus: common equivalents 137 62 Period End Shares (17) 15,705 15,584 (in thousands)March 31, 2026 March 31, 2025 March 31, 2024Reconciliation of Invested Capital to Shareholders Equity: Book value (total shareholders' equity)$702,819 $548,672 $663,720 Plus: total funded debt 9,376 87,159 37,932 Less: cash and cash equivalents (163,192) (10,896) (3,911)Invested Capital$549,003 $624,935 $697,741 Average Invested Capital (18)$586,969 $661,338 See notes at the end of this earnings release.
(1) Last-twelve-months earnings per share is the sum of earnings per share reported in the last four quarters.
(2) Last-twelve-months weighted average basic and diluted shares were determined by adding the weighted average shares reported for the last four quarters and dividing by four.
(3) Funded debt includes outstanding borrowings under our revolving credit facility and our outstanding equipment notes.
(4) These financial performance measures are provided as supplemental information to the financial statements. These measures are used by management to evaluate our past performance, our prospects for future performance and our ability to comply with certain material covenants as defined within our credit agreement, and to compare our results with those of our peers. In addition, we believe that certain of the measures, such as book value, tangible book value, free cash flow, asset turnover, return on equity, and debt leverage are measures that are monitored by sureties, lenders, lessors, suppliers and certain investors. Our calculation of each measure is described in the following notes; our calculation may not be the same as the calculations made by other companies.
(5) EBITDA is defined as earnings before interest, taxes, depreciation and amortization. EBITDA is not recognized under GAAP and does not purport to be an alternative to net income as a measure of operating performance or to net cash flows provided by operating activities as a measure of liquidity. Certain material covenants contained within our credit agreement are based on EBITDA with certain additional adjustments, including our interest coverage ratio and leverage ratio, which we must comply with to avoid potential immediate repayment of amounts borrowed or additional fees to seek relief from our lenders. In addition, management considers EBITDA a useful measure because it provides MYR Group Inc. and its investors with an additional tool to compare our operating performance on a consistent basis by removing the impact of certain items that management believes to not directly reflect the company’s core operations. Management further believes that EBITDA is useful to investors and other external users of our financial statements in evaluating the company’s operating performance and cash flow because EBITDA is widely used by investors to measure a company’s operating performance without regard to items such as interest expense, taxes, depreciation and amortization, which can vary substantially from company to company depending upon accounting methods and book value of assets, useful lives placed on assets, capital structure and the method by which assets were acquired.
(6) EBITDA per diluted share is calculated by dividing EBITDA by the weighted average number of diluted shares outstanding for the period. EBITDA per diluted share is not recognized under GAAP and does not purport to be an alternative to income per diluted share.
(7) EBIA, net of taxes is defined as net income plus net interest plus amortization of intangible assets, less the tax impact of net interest and amortization of intangible assets. The tax impact of net interest and amortization of intangible assets is computed by multiplying net interest and amortization of intangible assets by the effective tax rate. Management uses EBIA, net of taxes, to measure our results exclusive of the impact of financing and amortization of intangible assets costs.
(8) Free cash flow, which is defined as cash flow provided by operating activities minus cash flow used in purchasing property and equipment, is not recognized under GAAP and does not purport to be an alternative to net income, cash flow from operations or the change in cash on the balance sheet. Management views free cash flow as a measure of operational performance, liquidity and financial health.
(9) Book value per period end share is calculated by dividing total shareholders’ equity at the end of the period by the period end shares outstanding.
(10) Tangible book value is calculated by subtracting goodwill and intangible assets outstanding at the end of the period from shareholders’ equity. Tangible book value is not recognized under GAAP and does not purport to be an alternative to book value or shareholders’ equity.
(11) Tangible book value per period end share is calculated by dividing tangible book value at the end of the period by the period end number of shares outstanding. Tangible book value per period end share is not recognized under GAAP and does not purport to be an alternative to income per diluted share.
(12) The funded debt to equity ratio is calculated by dividing total funded debt at the end of the period by total shareholders’ equity at the end of the period.
(13) Asset turnover is calculated by dividing the current period revenue by total assets at the beginning of the period.
(14) Return on assets is calculated by dividing net income for the period by total assets at the beginning of the period.
(15) Return on equity is calculated by dividing net income for the period by total shareholders’ equity at the beginning of the period.
(16) Return on invested capital is calculated by dividing EBIA, net of taxes, less any dividends, by average invested capital. Return on invested capital is not recognized under GAAP, and is a key metric used by management to determine our executive compensation.
(17) Period end shares is calculated by adding average common stock equivalents for the quarter to the period end balance of common stock outstanding. Period end shares is not recognized under GAAP and does not purport to be an alternative to diluted shares. Management views period end shares as a better measure of shares outstanding as of the end of the period.
(18) Average invested capital is calculated by adding net funded debt (total funded debt less cash and marketable securities) to total shareholders’ equity and calculating the average of the beginning and ending of each period.
MYR Group (MYRG - Free Report) came out with quarterly earnings of $2.99 per share, beating the Zacks Consensus Estimate of $2.09 per share. This compares to earnings of $1.45 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +43.41%. A quarter ago, it was expected that this electrical construction services provider would post earnings of $1.73 per share when it actually produced earnings of $2.33, delivering a surprise of +34.68%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
MYR, which belongs to the Zacks Electric Construction industry, posted revenues of $1 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 5.63%. This compares to year-ago revenues of $833.62 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
MYR shares have added about 51.5% since the beginning of the year versus the S&P 500's gain of 4.3%.
What's Next for MYR?While MYR has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for MYR was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.13 on $978.5 million in revenues for the coming quarter and $9.23 on $4.02 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Electric Construction is currently in the top 5% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the broader Zacks Utilities sector, Atmos Energy (ATO - Free Report) , is yet to report results for the quarter ended March 2026. The results are expected to be released on May 6.
This natural gas utility is expected to post quarterly earnings of $3.36 per share in its upcoming report, which represents a year-over-year change of +10.9%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Atmos Energy's revenues are expected to be $2.22 billion, up 13.7% from the year-ago quarter.
THORNTON, Colo., April 30, 2026 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will attend the KeyBanc Industrials & Basic Materials investor conference. MYR Group’s Chief Executive Officer, Rick Swartz, Chief Financial Officer, Kelly Huntington, and Vice President, Investor Relations and Treasurer, Jennifer Harper, will meet with institutional investors during the KeyBanc Industrials & Basic Materials Conference on May 28, 2026, in Boston. This event is only available to KeyBanc clients.
About MYR Group Inc.
MYR Group is a holding company of leading, specialty electrical contractors providing services throughout the United States and Canada through two business segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I). MYR Group subsidiaries have the experience and expertise to complete electrical installations of any type and size. Through their T&D segment they provide services on electric transmission, distribution networks, substation facilities, clean energy projects and electric vehicle charging infrastructure. Their comprehensive T&D services include design, engineering, procurement, construction, upgrade, maintenance and repair services. T&D customers include investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility owners and other contractors. Through their C&I segment, they provide a broad range of services which include the design, installation, maintenance and repair of commercial and industrial wiring generally for data centers, clean energy projects, airports, hospitals, hotels, commercial and industrial facilities, manufacturing plants, processing facilities, water/waste-water treatment facilities, mining facilities, intelligent transportation systems, roadway lighting, signalization, stadiums and electric vehicle charging infrastructure. C&I customers include general contractors, commercial and industrial facility owners, government agencies and developers. For more information, visit myrgroup.com.
Contact
Jennifer Harper, Vice President, Investor Relations & Treasurer, MYR Group Inc., (847) 979-5835, [email protected]
THORNTON, Colo., May 04, 2026 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will attend the Stifel 2026 Boston Cross Sector 1x1 investor conference. MYR Group’s Chief Executive Officer, Rick Swartz, Chief Financial Officer, Kelly Huntington, and Vice President, Investor Relations and Treasurer, Jennifer Harper, will meet with institutional investors during the Stifel 2026 Boston Cross Sector 1x1 Conference on June 3, 2026, in Boston. This event is only available to Stifel clients.
About MYR Group Inc.
MYR Group is a holding company of leading, specialty electrical contractors providing services throughout the United States and Canada through two business segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I). MYR Group subsidiaries have the experience and expertise to complete electrical installations of any type and size. Through their T&D segment they provide services on electric transmission, distribution networks, substation facilities, clean energy projects and electric vehicle charging infrastructure. Their comprehensive T&D services include design, engineering, procurement, construction, upgrade, maintenance and repair services. T&D customers include investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility owners and other contractors. Through their C&I segment, they provide a broad range of services which include the design, installation, maintenance and repair of commercial and industrial wiring generally for data centers, clean energy projects, airports, hospitals, hotels, commercial and industrial facilities, manufacturing plants, processing facilities, water/waste-water treatment facilities, mining facilities, intelligent transportation systems, roadway lighting, signalization, stadiums and electric vehicle charging infrastructure. C&I customers include general contractors, commercial and industrial facility owners, government agencies and developers. For more information, visit myrgroup.com.
Contact
Jennifer Harper, Vice President, Investor Relations & Treasurer, MYR Group Inc., (847) 979-5835, [email protected]
THORNTON, Colo., May 05, 2026 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will attend the Baird Global Consumer, Technology & Services investor conference. MYR Group’s Chief Executive Officer, Rick Swartz, Chief Financial Officer, Kelly Huntington, and Vice President, Investor Relations and Treasurer, Jennifer Harper, will meet with institutional investors during the Baird Global Consumer, Technology & Services Conference on June 4, 2026, in New York City. This event is only available to Baird clients.
About MYR Group Inc.
MYR Group is a holding company of leading, specialty electrical contractors providing services throughout the United States and Canada through two business segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I). MYR Group subsidiaries have the experience and expertise to complete electrical installations of any type and size. Through their T&D segment they provide services on electric transmission, distribution networks, substation facilities, clean energy projects and electric vehicle charging infrastructure. Their comprehensive T&D services include design, engineering, procurement, construction, upgrade, maintenance and repair services. T&D customers include investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility owners and other contractors. Through their C&I segment, they provide a broad range of services which include the design, installation, maintenance and repair of commercial and industrial wiring generally for data centers, clean energy projects, airports, hospitals, hotels, commercial and industrial facilities, manufacturing plants, processing facilities, water/waste-water treatment facilities, mining facilities, intelligent transportation systems, roadway lighting, signalization, stadiums and electric vehicle charging infrastructure. C&I customers include general contractors, commercial and industrial facility owners, government agencies and developers. For more information, visit myrgroup.com.
Contact
Jennifer Harper, Vice President, Investor Relations & Treasurer, MYR Group Inc., (847) 979-5835, [email protected]
Shares of MYR Group (MYRG - Free Report) have been strong performers lately, with the stock up 62.2% over the past month. The stock hit a new 52-week high of $474.54 in the previous session. MYR has gained 114.4% since the start of the year compared to the 9.7% gain for the Zacks Utilities sector and the -57.7% return for the Zacks Electric Construction industry.
What's Driving the Outperformance?The stock has a great record of positive earnings surprises, having beaten the Zacks Consensus Estimate in each of the last four quarters. In its last earnings report on April 29, 2026, MYR reported EPS of $2.99 versus consensus estimate of $2.09.
For the current fiscal year, MYR is expected to post earnings of $9.23 per share on $4.02 in revenues. This represents a 22.58% change in EPS on a 9.8% change in revenues. For the next fiscal year, the company is expected to earn $9.71 per share on $4.27 in revenues. This represents a year-over-year change of 5.16% and 6.28%, respectively.
Valuation MetricsMYR may be at a 52-week high right now, but what might the future hold for the stock? A key aspect of this question is taking a look at valuation metrics in order to determine if the company is due for a pullback from this level.
On this front, we can look at the Zacks Style Scores, as these give investors a variety of ways to comb through stocks (beyond looking at the Zacks Rank of a security). The individual style scores for Value, Growth, Momentum and the combined VGM Score run from A through F. The idea behind the style scores is to help investors pick the most appropriate Zacks Rank stocks based on their individual investment style.
MYR has a Value Score of D. The stock's Growth and Momentum Scores are A and B, respectively, giving the company a VGM Score of A.
In terms of its value breakdown, the stock currently trades at 50.7X current fiscal year EPS estimates, which is a premium to the peer industry average of 42.6X. On a trailing cash flow basis, the stock currently trades at 39.3X versus its peer group's average of 39.3X. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.
Zacks RankWe also need to look at the Zacks Rank for the stock, as this supersedes any trend on the style score front. Fortunately, MYR currently has a Zacks Rank of #2 (Buy) thanks to rising earnings estimates.
Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if MYR fits the bill. Thus, it seems as though MYR shares could still be poised for more gains ahead.
Momentum investing revolves around the idea of following a stock's recent trend in either direction. In "long context," investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at MYR Group (MYRG - Free Report) , which currently has a Momentum Style Score of B. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. MYR Group currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market? In order to see if MYRG is a promising momentum pick, let's examine some Momentum Style elements to see if this electrical construction services provider holds up.
A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.
For MYRG, shares are up 27.77% over the past week while the Zacks Electric Construction industry is up 16.24% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 51.38% compares favorably with the industry's 48.72% performance as well.
While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Shares of MYR Group have increased 67.98% over the past quarter, and have gained 192.88% in the last year. In comparison, the S&P 500 has only moved 6.55% and 32.75%, respectively.
Investors should also pay attention to MYRG's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. MYRG is currently averaging 306,245 shares for the last 20 days.
Earnings OutlookThe Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with MYRG.
Over the past two months, 2 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost MYRG's consensus estimate, increasing from $8.98 to $9.84 in the past 60 days. Looking at the next fiscal year, 1 estimate has moved upwards while there have been no downward revisions in the same time period.
Bottom LineGiven these factors, it shouldn't be surprising that MYRG is a #1 (Strong Buy) stock and boasts a Momentum Score of B. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep MYR Group on your short list.
THORNTON, Colo., May 11, 2026 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will attend the Wells Fargo Industrials & Materials investor conference. MYR Group’s Chief Executive Officer, Rick Swartz, Chief Financial Officer, Kelly Huntington, and Vice President, Investor Relations and Treasurer, Jennifer Harper, will meet with institutional investors during the Wells Fargo Industrials & Materials Conference on June 10, 2026, in Chicago. This event is only available to Wells Fargo clients.
About MYR Group Inc.
MYR Group is a holding company of leading, specialty electrical contractors providing services throughout the United States and Canada through two business segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I). MYR Group subsidiaries have the experience and expertise to complete electrical installations of any type and size. Through their T&D segment they provide services on electric transmission, distribution networks, substation facilities, clean energy projects and electric vehicle charging infrastructure. Their comprehensive T&D services include design, engineering, procurement, construction, upgrade, maintenance and repair services. T&D customers include investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility owners and other contractors. Through their C&I segment, they provide a broad range of services which include the design, installation, maintenance and repair of commercial and industrial wiring generally for data centers, clean energy projects, airports, hospitals, hotels, commercial and industrial facilities, manufacturing plants, processing facilities, water/waste-water treatment facilities, mining facilities, intelligent transportation systems, roadway lighting, signalization, stadiums and electric vehicle charging infrastructure. C&I customers include general contractors, commercial and industrial facility owners, government agencies and developers. For more information, visit myrgroup.com.
Contact
Jennifer Harper, Vice President, Investor Relations & Treasurer, MYR Group Inc., (847) 979-5835, [email protected]
On May 18, 2026, MYR Group Inc MYRG shares fell 3.7% to a current price of $449.83, marking a notable decline in the context of its 52-week range, which has seen a low of $154.55 and a high of $480.00. The stock's price performance over the past year has been impressive, showcasing a 173.4% increase, but today's move suggests some volatility in the market.
GF Value™ verdict: Current price of $449.83 is 150.6% above the estimated fair value of $179.53.GF Score™ of 85/100 indicates a strong overall ranking based on various financial metrics.Most notable signal: MYRG has not seen any insider transactions in the last 3 months. Is MYRG Overvalued or Undervalued? The current price of MYR Group Inc at $449.83 is significantly above its GF Value™ estimate of $179.53, indicating that the stock is overvalued by approximately 150.6%. This overvaluation presents a considerable risk for potential investors, as there is a substantial margin of safety that is absent in this scenario. GF Valuation label classifies MYRG as significantly overvalued, which suggests that the current market price does not reflect the intrinsic value based on fundamental metrics.
GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. Given the stark discrepancy between the market price and GF Value™, investors may need to exercise caution and consider potential corrections in the stock price moving forward.
How Does MYRG's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 49.6x 26.8x Forward P/E 42.0x - MYR Group Inc's current P/E (TTM) of 49.6x is significantly higher than its 5-year median P/E of 26.8x, suggesting that the stock is trading above its historical valuation. The forward P/E of 42.0x also indicates that the stock remains expensive relative to its earnings potential. This P/E analysis aligns with the GF Value™ verdict that MYRG is overvalued, as the elevated P/E ratios further emphasize the disconnect between the current market price and the intrinsic value.
What Does MYRG's GF Score™ Tell Us? Metric Rating GF Score™ 85/100 Financial Strength 8/10 Profitability 9/10 Growth 10/10 Valuation 1/10 Momentum 9/10 MYR Group Inc's GF Score™ of 85/100 reflects a strong performance across most metrics, particularly in Growth (10/10), Profitability (9/10), and Momentum (9/10). However, the Valuation rank of 1/10 indicates that the stock is significantly overvalued compared to its intrinsic value. The Financial Strength rating of 8/10 further supports the company's stability, but the stark contrast in the Valuation area highlights a potential risk for investors considering the stock at its current price.
What Are Insiders Doing with MYRG Stock? There have been no insider transactions in MYR Group Inc's stock over the last three months. This lack of activity could indicate that insiders are either confident in the company's future prospects or are waiting for a more opportune moment to engage in transactions. The absence of insider buying could also suggest that insiders do not perceive the current price as attractive for acquisition.
What This Means for Investors Based on the GF Value™ assessment, MYR Group Inc is currently overvalued. The substantial difference between the current market price and the estimated fair value raises concerns about the sustainability of the stock's price, especially in light of its high P/E ratios and lack of insider activity. Investors may need to be cautious and consider the potential for a price correction in the future.
For the complete analysis, visit the MYR Group Inc MYRG stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is MYRG's GF Score™?
MYRG has a GF Score™ of 85/100, indicating a strong overall performance based on key financial metrics.
Is MYRG overvalued or undervalued?
MYRG is overvalued, with a current price that is 150.6% above its estimated GF Value™ of $179.53.
What is MYRG's P/E ratio?
MYRG's P/E (TTM) is 49.6x, which is significantly above its 5-year median P/E of 26.8x, indicating that the stock is trading at a premium compared to its historical valuation.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
I rate MYR Group Hold/Avoid as its ~41x forward P/E fully prices in AI data center and grid-electrification super-cycles, leaving minimal margin of safety. MYRG's shift to a 70% MSA-led T&D portfolio and C&I prefabrication builds recurring revenue and margin arbitrage, supporting premium valuation but demanding flawless execution. A fortress balance sheet with $500M+ liquidity and zero net debt positions MYRG for accretive M&A, yet organic growth (~12%) alone cannot justify current multiples.
May 27, 2026 16:01 ET | Source: Prospect Capital Corporation
NEW YORK, May 27, 2026 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”) a leading business development company focused on investing in middle-market businesses, today announced the successful sale of Prospect's portfolio company Valley Electric Company, Inc. (“Valley Electric”) to MYR Group Inc. (“MYR”), a leading specialty contractor serving the electric utility infrastructure, commercial, and industrial construction markets.
The closing of the transaction is expected to occur on or about July 1, 2026 for consideration of approximately $328 million, subject to net asset, other post-closing purchase price adjustments and earn-out payment. Over the life of the Valley Electric investment since 2012 and including expected net exit proceeds of approximately $280 million (not including potential adjustments and earn-out payments), together with prior interest on debt, equity distributions, and other cash flow streams, Prospect will have achieved a 20.4% realized gross annualized internal rate of return ("IRR") and 4.8 times multiple of invested capital.
Founded in 1982, Valley Electric is a premier provider of electrical solutions for critical infrastructure across Washington state, California, and the Western United States. Valley Electric provides a comprehensive array of contracting services, including end-to-end installation, design-build, preventative maintenance, and related services for mission critical, transportation, and various industrial and commercial end markets.
During Prospect’s investment period, Valley Electric has achieved significant growth and geographical expansion, expanding revenues by 289% while strengthening Valley Electric's leading market position across targeted regions.
Prospect’s successful Valley Electric investment highlights our multi decade track record of identifying high-quality businesses and working alongside world-class management teams to drive value creation,” said Robert Melman, Managing Director at Prospect. “We are proud to have supported the Company in achieving strong growth while delivering attractive realized returns.”
About Prospect Capital Corporation
Prospect is a business development company that primarily lends to and invests in middle market privately-held companies. Prospect’s investment objective is to generate both current income and long-term capital appreciation.
Prospect has elected to be treated as a business development company under the Investment Company Act of 1940. Prospect has elected to be treated as a regulated investment company under the Internal Revenue Code of 1986.
About MYR Group Inc.
MYR Group is a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets throughout the United States and Canada who have the experience and expertise to complete electrical installations of any type and size. Their comprehensive services on electric transmission and distribution networks and substation facilities include design, engineering, procurement, construction, upgrade, maintenance and repair services. Transmission and distribution customers include investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility owners and other contractors. Commercial and industrial electrical contracting services are provided to general contractors, commercial and industrial facility owners, local governments, and developers. For more information, visit myrgroup.com.
Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, whose safe harbor for forward-looking statements does not apply to business development companies. Any such statements, other than statements of historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under our control, and that we may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from any forward-looking statements. Such statements speak only as of the time when made, and we undertake no obligation to update any such statement now or in the future.
Internal Rate of Return (“IRR”) is the discount rate that makes the net present value of all cash flows related to a particular investment equal to zero. IRR is gross of general expenses not related to specific investments as these expenses are not allocable to specific investments. Investments are considered to be exited when the original investment objective has been achieved through the receipt of cash and/or non-cash consideration upon the repayment of a debt investment or sale of an investment or through the determination that no further consideration was collectible and, thus, a loss may have been realized. Prospect’s gross IRR calculations are unaudited. Information regarding internal rates of return are historical results relating to Prospect’s past performance and are not necessarily indicative of future results, the achievement of which cannot be assured.
For additional information, contact:
Grier Eliasek, President and Chief Operating Officer [email protected]
Telephone (212) 448-0702
THORNTON, Colo., May 27, 2026 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR” or the “Company”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada announced that it has entered into a definitive agreement to acquire all issued and outstanding shares of capital stock of Valley Holdings, Inc. and its subsidiaries (collectively, “Valley”), including Valley Electric Company, Inc. (Valley Electric) and Comet Electric, Inc. (Comet Electric) and their respective affiliates, for consideration of approximately $328.0 million, subject to net asset and other post-closing purchase price adjustments. The Company expects to fund the acquisition through a combination of cash on hand and borrowings under its revolving credit facility. Valley Electric, founded in 1982 and headquartered in Everett, Washington, is one of the largest full-service electrical contractors in the Western U.S., serving commercial, industrial, transportation/heavy civil, and marine markets. Comet Electric, founded in 1976 and headquartered in Chatsworth, California, is a premier commercial and industrial contractor operating in Southern California.
Over the last two years, the combined average annual revenues of Valley Electric and Comet Electric were in excess of $400 million.
“Valley Electric and Comet Electric each bring high-quality workforces and strong management teams with decades of experience, who share our culture, values and commitment to delivering superior service to our customers through operational excellence. We expect their diverse project portfolio, strong reputation, design skills, and other services will enhance our ability to capture projects. We are excited to welcome the employees of Valley Electric and Comet Electric to the MYR Group organization and look forward to making this a smooth transition,” said MYR Group’s President and CEO, Rick Swartz.
“The addition of Valley Electric and Comet Electric to MYR Group is expected to continue to strengthen our Commercial & Industrial segment service offerings and geographic reach, while expanding our market position as we continue to provide additional services to both new and existing customers,” said Rick Swartz.
Transaction Approvals and Closing Conditions
The transaction has been approved by the seller (Prospect Capital Corporation) and the Board of Directors of MYR Group and is expected to close on or about July 1, 2026, subject to receiving required regulatory approvals and the satisfaction of other customary closing conditions.
Stifel is serving as the exclusive financial advisor to Valley on the transaction.
About MYR Group Inc.
MYR Group is a holding company of leading, specialty electrical contractors providing services throughout the United States and Canada through two business segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I). MYR Group subsidiaries have the experience and expertise to complete electrical installations of any type and size. Through their T&D segment they provide services on electric transmission, distribution networks, substation facilities, clean energy projects and electric vehicle charging infrastructure. Their comprehensive T&D services include design, engineering, procurement, construction, upgrade, maintenance and repair services. T&D customers include investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility owners and other contractors. Through their C&I segment, they provide a broad range of services which include the design, installation, maintenance and repair of commercial and industrial wiring generally for data centers, clean energy projects, airports, hospitals, hotels, commercial and industrial facilities, manufacturing plants, processing facilities, water/waste-water treatment facilities, mining facilities, intelligent transportation systems, roadway lighting, signalization, stadiums and electric vehicle charging infrastructure. C&I customers include general contractors, commercial and industrial facility owners, government agencies and developers. For more information, visit myrgroup.com.
About Valley Electric and Comet Electric Company
Valley Electric, founded in 1982 and headquartered in Everett, Washington, is one of the largest full‑service electrical contractors in the Western U.S., delivering comprehensive preconstruction, design‑build/assist, BIM, prefabrication, project management, electrical and low‑voltage systems, service, and predictive maintenance across commercial, industrial, transportation/heavy civil, and marine markets. Its subsidiary, Comet Electric, established in 1976 and headquartered in Chatsworth, California, shares the same full‑service capabilities and market reach, specializing in key sectors including transportation, aviation, mission‑critical/data centers, water/wastewater, industrial, education, healthcare, and commercial. For more information, visit velectric.com and cometelectric.com.
Forward-Looking Statements
Various statements in this announcement, including those that express a belief, expectation, or intention, as well as those that are not statements of historical fact, are forward-looking statements. The forward-looking statements may include projections and estimates concerning the timing and success of specific projects and our future production, revenue, income, capital spending, segment improvements and investments. Forward-looking statements are generally accompanied by words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “likely,” “may,” “objective,” “outlook,” “plan,” “project,” “possible,” “potential,” “should,” “unlikely,” or other words that convey the uncertainty of future events or outcomes. The forward-looking statements in this announcement speak only as of the date of this announcement. We disclaim any obligation to update these statements (unless required by securities laws), and we caution you not to rely on them unduly. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. No forward-looking statement can be guaranteed and actual results may differ materially from those projected. Forward-looking statements in this announcement should be evaluated together with the many uncertainties that affect MYR's business, particularly those mentioned in the risk factors and cautionary statements in Item 1A. of MYR's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in any risk factors or cautionary statements contained in MYR's subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K.
MYR Group Inc. Contact:
Jennifer Harper, Vice President, Investor Relations & Treasurer, 847-979-5835, [email protected]
MYR Group Inc. (NASDAQ:MYRG) has agreed to acquire all outstanding capital stock of Valley Holdings Inc and its subsidiaries, including Valley Electric...
MYR Group Inc. (NASDAQ:MYRG) has agreed to acquire all outstanding capital stock of Valley Holdings Inc and its subsidiaries, including Valley Electric Company and Comet Electric, for approximately $328 million, expanding the specialty contractor's footprint in the Western US and Southern California.
The Thornton, Colorado-based electric utility infrastructure and commercial construction contractor will fund the purchase through a combination of cash on hand and borrowings under its revolving credit facility, with the consideration subject to net asset and other post-closing purchase price adjustments.
Valley Electric, founded in 1982 and headquartered in Everett, Washington, serves commercial, industrial, transportation, heavy civil and marine markets across the Western US.
Comet Electric, established in 1976 and based in Chatsworth, California, operates as a commercial and industrial contractor focused on Southern California.
The acquisition broadens MYR Group's reach in two regions where data center expansion, electrification, transportation infrastructure and utility upgrade work have driven demand for specialty electrical contractors.
The deal adds two operating platforms with established customer relationships in commercial and industrial construction and extends MYR Group's exposure to the marine and heavy civil segments.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.
Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.
One stock to keep an eye on is AES (AES - Free Report) . AES is currently sporting a Zacks Rank #2 (Buy) and an A for Value. The stock holds a P/E ratio of 5.74, while its industry has an average P/E of 15.89. Over the past 52 weeks, AES's Forward P/E has been as high as 10.04 and as low as 4.38, with a median of 5.79.
We also note that AES holds a PEG ratio of 0.51. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. AES's industry currently sports an average PEG of 1.40. Over the last 12 months, AES's PEG has been as high as 1.89 and as low as 0.51, with a median of 1.41.
Another valuation metric that we should highlight is AES's P/B ratio of 1.21. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 2.61. AES's P/B has been as high as 2.03 and as low as 0.89, with a median of 1.18, over the past year.
Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. This is a preferred metric because revenue can't really be manipulated, so sales are often a truer performance indicator. AES has a P/S ratio of 0.84. This compares to its industry's average P/S of 2.49.
Finally, investors should note that AES has a P/CF ratio of 4.12. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. This stock's P/CF looks attractive against its industry's average P/CF of 9.60. Over the past 52 weeks, AES's P/CF has been as high as 7.00 and as low as 2.41, with a median of 3.49.
Another great Utility - Electric Power stock you could consider is E.ON (EONGY - Free Report) , which is a Zacks Rank of #2 (Buy) stock with a Value Score of A.
E.ON is trading at a forward earnings multiple of 14.92 at the moment, with a PEG ratio of 5.97. This compares to its industry's average P/E of 15.89 and average PEG ratio of 1.40.
Over the past year, EONGY's P/E has been as high as 16.12, as low as 9.27, with a median of 12.41; its PEG ratio has been as high as 7.50, as low as 3.69, with a median of 5.86 during the same time period.
Additionally, E.ON has a P/B ratio of 1.78 while its industry's price-to-book ratio sits at 2.61. For EONGY, this valuation metric has been as high as 1.86, as low as 1.08, with a median of 1.55 over the past year.
These figures are just a handful of the metrics value investors tend to look at, but they help show that AES and E.ON are likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, AES and EONGY feels like a great value stock at the moment.
AES (NYSE:AES – Get Free Report) and Hawaiian Electric Industries (NYSE:HE – Get Free Report) are both utilities companies, but which is the better stock? We will compare the two companies based on the strength of their institutional ownership, risk, valuation, analyst recommendations, earnings, dividends and profitability.
Volatility & Risk AES has a beta of 1.03, indicating that its stock price is 3% more volatile than the S&P 500. Comparatively, Hawaiian Electric Industries has a beta of 0.55, indicating that its stock price is 45% less volatile than the S&P 500.
Earnings and Valuation This table compares AES and Hawaiian Electric Industries”s revenue, earnings per share and valuation.
Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio AES $12.23 billion 0.84 $910.00 million $1.26 11.50 Hawaiian Electric Industries $3.09 billion 0.86 $126.28 million $0.71 21.66 AES has higher revenue and earnings than Hawaiian Electric Industries. AES is trading at a lower price-to-earnings ratio than Hawaiian Electric Industries, indicating that it is currently the more affordable of the two stocks.
Insider & Institutional Ownership 93.1% of AES shares are owned by institutional investors. Comparatively, 59.9% of Hawaiian Electric Industries shares are owned by institutional investors. 0.8% of AES shares are owned by company insiders. Comparatively, 0.2% of Hawaiian Electric Industries shares are owned by company insiders. Strong institutional ownership is an indication that large money managers, endowments and hedge funds believe a company is poised for long-term growth.
Profitability This table compares AES and Hawaiian Electric Industries’ net margins, return on equity and return on assets.
Net Margins Return on Equity Return on Assets AES 7.40% 19.93% 3.29% Hawaiian Electric Industries 4.09% 9.82% 1.75% Analyst Ratings This is a summary of current recommendations and price targets for AES and Hawaiian Electric Industries, as reported by MarketBeat.com.
Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score AES 0 8 2 0 2.20 Hawaiian Electric Industries 1 2 0 1 2.25 AES presently has a consensus target price of $24.09, suggesting a potential upside of 66.32%. Hawaiian Electric Industries has a consensus target price of $13.25, suggesting a potential downside of 13.86%. Given AES’s higher probable upside, equities analysts plainly believe AES is more favorable than Hawaiian Electric Industries.
Summary AES beats Hawaiian Electric Industries on 11 of the 15 factors compared between the two stocks.
About AES (Get Free Report)
The AES Corporation, together with its subsidiaries, operates as a diversified power generation and utility company in the United States and internationally. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; owns and/or operates utilities to generate or purchase, distribute, transmit, and sell electricity to end-user customers in the residential, commercial, industrial, and governmental sectors; and generates and sells electricity on the wholesale market. It uses various fuels and technologies to generate electricity, such as coal, gas, hydro, wind, solar, and biomass, as well as renewables comprising energy storage and landfill gas. The company owns and/or operates a generation portfolio of approximately 34,596 megawatts and distributes power to 2.6 million customers. The company was formerly known as Applied Energy Services, Inc. and changed its name to The AES Corporation in April 2000. The AES Corporation was incorporated in 1981 and is headquartered in Arlington, Virginia.
About Hawaiian Electric Industries (Get Free Report)
Hawaiian Electric Industries, Inc., together with its subsidiaries, engages in the electric utility businesses in the United States. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai. Its renewable energy sources and potential sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, municipal waste, and other biofuels. This segment serves suburban communities, resorts, the United States Armed Forces installations, and agricultural operations. The Bank segment operates a federally chartered savings bank that offers banking and other financial services to consumers and businesses, including savings and checking accounts; and loans comprising residential and commercial real estate, residential mortgage, construction and development, multifamily residential and commercial real estate, consumer, and commercial loans. The Other segment invests in non-regulated renewable energy and sustainable infrastructure in the State of Hawaii. Hawaiian Electric Industries, Inc. was founded in 1891 and is headquartered in Honolulu, Hawaii.
Receive News & Ratings for AES Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AES and related companies with MarketBeat.com's FREE daily email newsletter.
« PREVIOUS HEADLINEBKV Corporation (NYSE:BKV) Given Consensus Rating of “Moderate Buy” by Analysts
NEXT HEADLINE »OneSpaWorld Holdings Limited (NASDAQ:OSW) Receives Average Recommendation of “Buy” from Brokerages
, /PRNewswire/ -- IPALCO Enterprises, Inc. ("IPALCO") today announced the termination of its previously announced solicitations of consents (each, an "Expired Solicitation" and, collectively, the "Expired Solicitations") from registered holders (the "Holders") of its 4.25% Senior Notes due 2030 (the "2030 Notes") and 5.75% Senior Notes due 2034 (together with the 2030 Notes, the "Notes") to certain proposed amendments to the indentures governing the Notes.
The Expired Solicitations expired at 5:00 p.m., New York City time, on May 13, 2026. As of such time, IPALCO had not received the requisite consents from the Holders. Rather than extend the expiration time for the Expired Solicitations, IPALCO has determined to terminate the Expired Solicitations. No consideration will be paid or become payable to Holders who previously delivered consents pursuant to the Expired Solicitations.
About IPALCO
IPALCO Enterprises, Inc. is a holding company which, through its principal subsidiary Indianapolis Power & Light Company, a regulated electric utility that provides retail electric service to more than 533,000 residential, commercial and industrial customers, engages primarily in generating, transmitting, distributing and selling electric energy, with its customer base concentrated in Indianapolis, Indiana. IPALCO Enterprises, Inc. is owned by The AES Corporation, a global power company, with CDP Infrastructures Fund L.P., a wholly owned subsidiary of La Caisse de dépôt et placement du Québec (CDPQ), as minority interest holder.
About AES
The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many stakeholders, we're improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today.
Investor Contact: Susan Harcourt 703-682-1204, [email protected]
Media Contact: Amy Ackerman 703-682-6399, [email protected]
, /PRNewswire/ -- DPL LLC (f/k/a DPL Inc.) ("DPL") today announced the termination of its previously announced solicitation of consents (the "Expired Solicitation") from registered holders (the "Holders") of its 4.35% Senior Notes due 2029 (the "Notes") to certain proposed amendments to the indenture governing the Notes.
The Expired Solicitation expired at 5:00 p.m., New York City time, on May 13, 2026. As of such time, DPL had not received the requisite consents from the Holders. Rather than extend the expiration time for the Expired Solicitation, DPL has determined to terminate the Expired Solicitation. No consideration will be paid or become payable to Holders who previously delivered consents pursuant to the Expired Solicitation.
About DPL LLC
DPL LLC is a regional energy provider and an AES company. DPL's primary subsidiaries include The Dayton Power and Light Company and Miami Valley Insurance Company (MVIC). The Dayton Power and Light Company, a regulated electric utility, provides service to more than 541,000 residential, commercial and industrial customers in a 6,000-square-mile service area in West Central Ohio and MVIC, a captive insurance company, provides insurance services to DPL and its subsidiaries.
About AES
The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many stakeholders, we're improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today.
Investor Contact: Susan Harcourt 703-682-1204, [email protected]
Media Contact: Amy Ackerman 703-682-6399, [email protected]
Rose's Income Garden portfolio targets high-yield, quality dividend stocks across 10 sectors, emphasizing value and credit quality. Current high-yield sector picks include MO, BMY, AES, VZ, GPC, and VICI, each with yields above 4.5% and favorable valuation or growth profiles. RIG's forward yield exceeds 6.09%, with YTD performance at 8.39%, outpacing SPY's 0.99% yield and focusing on undervalued dividend payers.
LOS ANGELES, May 18, 2026 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of The AES Corporation (“AES” or “the Company”) (NYSE: AES) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335 [email protected]
www.schallfirm.com
NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of The AES Corporation (NYSE: AES) to a consortium led by Global Infrastructure Partners and the EQT Infrastructure VI fund. Under the terms of the proposed transaction, shareholders of AES will receive $15.00 in cash for each share of AES that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.
If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ([email protected]) toll free at any time at 855-768-1857, or visit https://www.ksfcounsel.com/cases/nyse-aes/ to learn more.
To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.
Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of The AES Corporation (NYSE: AES) to a consortium led by Global Infrastructure Partners and the EQT Infrastructure VI fund. Under the terms of the proposed transaction, shareholders of AES will receive $15.00 in cash for each share of AES that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.
If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ([email protected]) toll free at any time at 855-768-1857, or visit https://www.ksfcounsel.com/cases/nyse-aes/ to learn more.
To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.
4th International Forum “Thermal Power Plants Central Asia 2026” to Take Place in Astana, Kazakhstan
New York, May 21, 2025 – PRISM MediaWire (Press Release Service – Press Release Distribution) – The 4th International Forum “Thermal Power Plants Central Asia 2026” will take place on June 24–25, 2026, in Astana, bringing together senior executives, government representatives, investors, and technology providers involved in the development of thermal power generation across Central Asia.
4th International Forum “Thermal Power Plants Central Asia 2026” to Take Place in Astana, Kazakhstan Positioned as a leading industry platform, the forum focuses on investment, modernization, and strategic development of thermal power infrastructure in Kazakhstan, Uzbekistan, Kyrgyzstan, and Tajikistan.
A Market Entering a New Investment Cycle Central Asia is undergoing a significant transformation of its energy sector, driven by aging infrastructure, rising electricity demand, and the need for efficiency and decarbonisation.
The forum will showcase 30+ large-scale investment projects in:
Construction of new thermal power plants Modernisation and expansion of existing facilities Gasification of coal-fired assets Development of combined-cycle power plants (CCGT) Implementation of digital and AI-driven technologies These projects represent substantial opportunities for European technology providers, EPC contractors, and investors seeking entry into high-growth energy markets.
Download the analytical report on the Thermal Power Industry
Key Forum Figures: 200+ participants from 15+ countries 40+ speakers, including industry leaders and policymakers 30+ investment projects presented 2 days of high-level discussions and B2B meetings The forum is designed as a deal-making platform, enabling direct dialogue between project initiators, operators, and solution providers.
Confirmed Participants: Eurasian Resources Group Turkestan CCGT Project Almaty Electric Stations (AES) INTER RAO Export Ust-Kamenogorsk TPP Ekibastuz TPP Kazakhmys Energy Ekibastuz GRES-1 named after Bulat Nurzhanov Distinguished Speakers: Among confirmed speakers and industry experts:
Arman Kashkinbekov, Board Member, Samruk-Energo; ERG Saifulla Shaismatov, CEO, Teploelektroproekt Evgeny Nikitin, Director of Energy Department, Eurasian Resources Group Daniyar Nugumanov, CEO, Ust-Kamenogorsk TPP Nurlan Ramazanov, Director, Sogrinskaya TPP Aibek Kozhabekov, Chief Engineer, KuatZhyluOrtalyk-3 Strategic Agenda Highlights: Plenary session: Thermal Power Industry Outlook to 2035 AI in energy: practical applications in power generation Energy transition in Central Asia: challenges and realistic pathways Financing thermal power projects: engaging banks and investors Asset management strategies: modernisation vs decommissioning Technical roundtable: safety and operational efficiency at TPPs Download the analytical report on the Thermal Power Industry
Forum Partners:
General Sponsor — Gazprombank (Joint Stock Company) Bronze Sponsor — INNIO Jenbacher Logistics Partner — DBF Lojistik A.Ş. About the Forum:
“Thermal Power Plants Central Asia” is an annual international forum organized by Vostock Capital, dedicated to the development of thermal power generation in Central Asia. The platform connects industry leaders, investors, and technology providers to accelerate project implementation and foster international cooperation.
Media Contact:
For media partnerships, accreditation, and additional information:
Catalina Velasco – Marketing Manager
Email: [email protected]
Official Website: https://thermalpowercentralasia.com/
Key Takeaways D signs all-stock merger with NEE: 0.8138 NEE shares per D share, 25.5% of the combined firm. Combined utility to be over 80% regulated, serve nearly 10M customers, and own 110-GW generation assets. Deal targets over 9% EPS growth to 2032, $2.25B bill credits, and 6% annual dividend growth through 2028. Dominion Energy, Inc. (D - Free Report) announced that it has signed an all-stock merger deal with NextEra Energy (NEE - Free Report) . The company’s shareholders are set to receive 0.8138 shares of NextEra Energy for each Dominion share held, representing 25.5% ownership of the combined company. The deal is expected to close in 12 -18 months, subject to necessary regulatory approvals.
The merged entity will be one of the largest regulated electric utility businesses in North America, with more than 80% regulated structure. The new company will serve nearly 10 million customers and own 110-gigawatt (GW) generation assets. The new company expects more than 130-GW large-load growth opportunities to cater to future projects and customer demand.
Benefits of MergerDominion Energy shareholders are set to benefit from ownership in a larger and more diversified energy infrastructure company with enhanced long-term growth potential. The combined entity is projected to generate annual adjusted earnings-per-share growth of more than 9% through 2032, driven by an expanded regulated utility platform and broader infrastructure investment opportunities.
The combined company is expected to have a rate base of nearly $138 billion, projected to grow at an annual rate of almost 11% through 2032, driven by strategic and efficient investments aimed at benefiting customers.
This merger will offer Dominion Energy customers in Virginia, North Carolina and South Carolina $2.25 billion in bill credits, distributed over a two-year period following the completion of the deal.
The combined company projects an attractive annual dividend growth rate of 6% through 2028, which is expected to bring the dividend payout ratio below 55% by 2030. Dominion Energy shareholders will continue to receive their current quarterly dividend until the transaction closes, along with a one-time cash payment of $360 million.
Role of Consolidation in the Electric Utility SectorThese utility operations are capital-intensive and strong capital investment is required for grid modernization and expanding infrastructure. Consolidation through mergers and acquisitions supports large-scale production to meet the increase in electricity demand, reduce costs through synergies, improve operational efficiency and support long-term financial growth.
Apart from Dominion Energy and NextEra Energy, some other companies are also benefiting through mergers and acquisitions.
The AES Corporation (AES - Free Report) , with its subsidiaries engaged in power generation and power distribution through regulated utilities. The company announced that it has agreed to be acquired by a consortium led by Global Infrastructure Partners and EQT Infrastructure VI fund, along with California Public Employees' Retirement System and Qatar Investment Authority. Under the agreement, AES shareholders will receive $15 per share in cash. The transaction is expected to close in late 2026 or early 2027.
AES has a dividend yield of 4.78%. The Zacks Consensus Estimate for 2026 sales is pinned at $13.79 billion, which implies a year-over-year increase of 12.69%
Constellation Energy (CEG - Free Report) is another player from the same industry engaged in the production and sale of electric power, natural gas and energy management services, serving customers nationwide through its competitive retail platform. CEG has acquired Calpine Corporation, adding dispatchable natural gas assets. It supports the growing need for power to serve data center demand.
CEG's long-term (three to five years) earnings growth rate is 21.62%. The Zacks Consensus Estimate for 2026 earnings is pinned at $11.75 per share, which implies a year-over-year increase of 25.13%
Share Price Movement of DIn the past month, shares have rallied 11.9% against the industry’s 1.3% decline.
Image Source: Zacks Investment Research
D’s Zacks Rank Dominion Energy currently carries a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AES Corporation is now a low-risk arbitrage play following a $15/share take-private deal led by BlackRock. With AES trading at $14.67, investors can capture a 2.2% spread plus a 4.8% dividend yield until deal closure. The upside is capped at $15; risk remains if shareholder or regulatory approvals fail, exposing downside to pre-deal levels.
A month has gone by since the last earnings report for AES (AES - Free Report) . Shares have added about 2.6% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is AES due for a pullback? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent drivers for The AES Corporation before we dive into how investors and analysts have reacted as of late.
The AES Corporation’s first-quarter 2026 adjusted earnings of 67 cents per share surpassed the Zacks Consensus Estimate of 50 cents by 34%. The bottom line also improved 148.1% from 27 cents in the year-ago quarter.
AES’ Total RevenuesThe company’s total revenues amounted to $3.18 billion, up 8.7% year over year. The figure also surpassed the Zacks Consensus Estimate of $3.1 billion by 2.6%.
Highlights of AES’ ReleaseThe total cost of sales in the first quarter was $2.54 billion, up 2.2% year over year.
The operating margin totaled $640 million, up 45.1% from $441 million in the year-ago period.
Interest expenses amounted to $353 million, up 3.2% from $342 million in the prior-year quarter.
AES’ Financial ConditionAES had cash and cash equivalents of $1.6 billion as of March 31, 2026, compared with $1.38 billion as of Dec. 31, 2025.
Non-recourse debt totaled $22.55 billion as of the same date, up from $21.68 billion as of Dec. 31, 2025.
The net cash flow from operating activities amounted to $1.2 billion during the first three months of 2026 compared with $0.55 billion in the first three months of 2025.
Total capital expenditure was $1.77 billion during the first three months of 2026, up from $1.25 billion recorded a year ago.
How Have Estimates Been Moving Since Then?Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.
VGM ScoresCurrently, AES has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a score of A on the value side, putting it in the top quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook AES has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.
, /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of The AES Corporation ("AES" or "the Company") (NYSE: AES) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
[email protected]
www.schallfirm.com
, /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of The AES Corporation ("AES" or "the Company") (NYSE: AES) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
[email protected]
www.schallfirm.com
, /PRNewswire/ -- The AES Corporation (NYSE: AES) ("AES" or the "Company") announced today the pricing of $600 million aggregate principal amount of its 5.200% senior notes due 2029 (the "2029 Notes") and $400 million aggregate principal amount of its 5.750% senior notes due 2033 (the "2033 Notes", together with the 2029 Notes, the "Notes"). The closing of the offering of the Notes is expected to occur, subject to the satisfaction of certain customary closing conditions, on June 16, 2026 (T+3).
AES intends to use the net proceeds from the offering to repay existing indebtedness and for general corporate purposes.
J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and SMBC Nikko Securities America, Inc. are acting as joint book-running managers of the proposed offering.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor does it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. An effective shelf registration statement related to the Notes has previously been filed by AES with the Securities and Exchange Commission (the "SEC"). The offering and sale of the Notes are being made only by means of a prospectus supplement dated June 11, 2026 and an accompanying base prospectus dated March 11, 2025 related to the offering. Before you invest, you should read the prospectus and the preliminary prospectus supplement in that registration statement and other documents AES has filed with the SEC for more complete information about AES and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the prospectus supplement and related base prospectus related to this offering may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at (212) 834-4533; from Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service, by telephone at (800) 645-3751 or by email at [email protected]; from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at (800) 831-9146; from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at (866) 471-2526 or by email at [email protected]; or from SMBC Nikko Securities America, Inc., Attention: Securities Operations, 277 Park Avenue, New York, New York 10172 or by telephone at (888) 868-6856.
About AES
The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many stakeholders, we're improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today.
Safe Harbor Disclosure
This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES' current expectations based on reasonable assumptions. Such forward-looking statements include, but are not limited to, our financing plans, including the offering of the Notes and the details thereof, the proposed use of proceeds therefrom, and other expected effects of the offering of the Notes and anticipated use of our shelf registration statement, which are subject to risks and uncertainties, such as our continued eligibility to use the shelf registration statement, general economic conditions and other risks and uncertainties.
Actual results could differ materially from those projected in AES' forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in the prospectus supplement related to the offering and AES' filings with the SEC, including, but not limited to, the risks discussed under Item 1A: "Risk Factors" and Item 7: "Management's Discussion & Analysis" in AES' 2025 Annual Report on Form 10-K, in AES' Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 and in any subsequent reports filed with the SEC. Potential investors are encouraged to read AES' filings to learn more about the risk factors associated with AES' business. AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except where required by law.
Investor Contact: Max Trask 571-217-3249, [email protected]
Media Contact: Amy Ackerman 703-682-6399, [email protected]
, /PRNewswire/ -- The AES Corporation (NYSE: AES) ("AES" or the "Company") announced today the pricing of $600 million aggregate principal amount of its 5.200% senior notes due 2029 (the "2029 Notes") and $400 million aggregate principal amount of its 5.750% senior notes due 2033 (the "2033 Notes", together with the 2029 Notes, the "Notes"). The closing of the offering of the Notes is expected to occur, subject to the satisfaction of certain customary closing conditions, on June 16, 2026 (T+3).
AES intends to use the net proceeds from the offering to repay existing indebtedness and for general corporate purposes.
J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and SMBC Nikko Securities America, Inc. are acting as joint book-running managers of the proposed offering.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor does it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. An effective shelf registration statement related to the Notes has previously been filed by AES with the Securities and Exchange Commission (the "SEC"). The offering and sale of the Notes are being made only by means of a prospectus supplement dated June 11, 2026 and an accompanying base prospectus dated March 11, 2025 related to the offering. Before you invest, you should read the prospectus and the preliminary prospectus supplement in that registration statement and other documents AES has filed with the SEC for more complete information about AES and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the prospectus supplement and related base prospectus related to this offering may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at (212) 834-4533; from Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service, by telephone at (800) 645-3751 or by email at [email protected]; from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at (800) 831-9146; from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at (866) 471-2526 or by email at [email protected]; or from SMBC Nikko Securities America, Inc., Attention: Securities Operations, 277 Park Avenue, New York, New York 10172 or by telephone at (888) 868-6856.
About AES
The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many stakeholders, we're improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today.
Safe Harbor Disclosure
This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES' current expectations based on reasonable assumptions. Such forward-looking statements include, but are not limited to, our financing plans, including the offering of the Notes and the details thereof, the proposed use of proceeds therefrom, and other expected effects of the offering of the Notes and anticipated use of our shelf registration statement, which are subject to risks and uncertainties, such as our continued eligibility to use the shelf registration statement, general economic conditions and other risks and uncertainties.
Actual results could differ materially from those projected in AES' forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in the prospectus supplement related to the offering and AES' filings with the SEC, including, but not limited to, the risks discussed under Item 1A: "Risk Factors" and Item 7: "Management's Discussion & Analysis" in AES' 2025 Annual Report on Form 10-K, in AES' Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 and in any subsequent reports filed with the SEC. Potential investors are encouraged to read AES' filings to learn more about the risk factors associated with AES' business. AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except where required by law.
View original content to download multimedia:https://www.prnewswire.com/news-releases/aes-announces-pricing-of-1-billion-of-senior-notes-in-public-offering-302798725.html
NEW YORK--(BUSINESS WIRE)--IFF (NYSE: IFF) reported financial results for the first quarter ended March 31, 2026.
First Quarter 2026 Consolidated Summary:
Reported
(GAAP)
Adjusted
(Non-GAAP)1
Sales
Income Before Taxes
EPS
Operating EBITDA
Operating EBITDA Margin
EPS ex Amortization
$2.7 B
$209 M
$0.66
$568 M
20.7%
$1.25
Management Commentary
“IFF is off to a solid start in 2026, with first quarter results that reflect the customer focus and operational execution we’ve been building across the company,” said Erik Fyrwald, CEO of IFF. “We delivered volume growth in all four segments, improved profitability, and generated strong cash flow in the first quarter.
As we look ahead, we are maintaining a disciplined approach to how we are planning the balance of the year as the current operating environment remains unsettled. We remained focused on advancing our commercial and innovation pipelines, driving productivity, and working with customers to offset inflation. This – when combined with our solid start to the year – derisks the balance of the year and gives us the confidence to reaffirm our full-year 2026 financial guidance ranges in an uncertain environment. At the same time, we are running a disciplined sale process for Food Ingredients to ensure we maximize value for shareholders.”
First Quarter 2026 Consolidated Financial Results
Reported net sales for the first quarter were $2.74 billion, a decrease of 4% versus the prior-year period. On a comparable basis2, currency neutral sales1 increased 3% versus the prior-year period with broad based growth across all businesses. Income before taxes on a reported basis for the first quarter was $209 million. Adjusted operating EBITDA1 for the first quarter was $568 million. On a comparable basis2, currency neutral adjusted operating EBITDA1 improved 8% versus the prior-year period, driven by volume growth and productivity gains. Reported earnings per share (EPS) for the first quarter was $0.66. Adjusted EPS excluding amortization1 was $1.25 per diluted share. Cash flows from operations for the first quarter were $257 million, increasing $130 million year-over-year, and free cash flow1 defined as cash flows from operations less capital expenditures totaled $92 million, increasing $144 million year-over-year. Total debt to trailing twelve months net income at the end of the first quarter was 7.2x. Net debt to credit adjusted EBITDA1 at the end of the first quarter was 2.5x. First Quarter 2026 Segment Summary: Growth vs. Prior Year
Reported
(GAAP)
Comparable Currency Neutral
(Non-GAAP)1 2
Adjusted
(Non-GAAP)1
Comparable Currency Neutral
Adjusted
(Non-GAAP)1 2
Sales
Sales
Operating
EBITDA
Operating
EBITDA
Taste
5%
2%
17%
18%
Health & Biosciences
10%
5%
11%
7%
Scent
6%
1%
3%
(2)%
Food Ingredients
5%
3%
3%
12%
Consolidated
(4)%
3%
(2)%
8%
Taste Segment
On a reported basis, first quarter sales were $656 million. On a comparable basis2, currency neutral sales1 increased 2% with broad-based growth in all regions. Taste adjusted operating EBITDA1 was $153 million and adjusted operating EBITDA margin1 was 23.3% in the first quarter. On a comparable basis2, currency neutral adjusted operating EBITDA1 increased 18% led by volume growth, favorable net pricing and productivity gains. Health & Biosciences Segment
On a reported basis, first quarter sales were $595 million. On a comparable basis2, currency neutral sales1 increased 5% with growth in nearly all businesses, led by Animal Nutrition and Food Biosciences. Health & Biosciences adjusted operating EBITDA1 was $153 million and adjusted operating EBITDA margin1 was 25.7% in the first quarter. On a comparable basis2, currency neutral adjusted operating EBITDA1 increased 7% primarily driven by volume growth. Scent Segment
On a reported basis, first quarter sales were $651 million. On a comparable basis2, currency neutral sales1 increased 1% as growth in Consumer Fragrances and Fine Fragrances was partially offset by a decline in Fragrance Ingredients. Scent adjusted operating EBITDA1 was $148 million and adjusted operating EBITDA margin1 was 22.7% in the first quarter. On a comparable basis2, currency neutral adjusted operating EBITDA1 decreased (2)% as volume growth and productivity gains were more than offset by unfavorable price to input cost. Food Ingredients Segment
On a reported basis, first quarter sales were $839 million. On a comparable basis2, currency neutral sales1 increased 3% led by volume growth in nearly all businesses. Food Ingredients adjusted operating EBITDA1 was $114 million and adjusted operating EBITDA margin1 was 13.6% in the first quarter. On a comparable basis2, currency neutral adjusted operating EBITDA1 increased 12% driven by volume growth and productivity gains. Financial Guidance
The Company continues to expect full year 2026 sales to be in the range of $10.5 billion to $10.8 billion and full year 2026 adjusted operating EBITDA to be in the range of $2.05 billion to $2.15 billion. Full year guidance now includes two months (previously three months) of Soy Crush, Concentrates, and Lecithin business results with the divestiture closing on March 2, 2026 (previously expected to close on April 1, 2026).
The Company continues to expect comparable currency neutral sales growth to be between 1% to 4%, and comparable currency neutral adjusted operating EBITDA growth to be 3% to 8%.
Based on recent market foreign exchange rates, the Company continues to expect that foreign exchange will have an approximately 1% positive impact on sales growth and have no impact on adjusted operating EBITDA growth in 2026.
The Company also continues to expect that divestitures will have an approximately 5% adverse impact on both sales and adjusted operating EBITDA growth in 2026.
Audio Webcast
A live webcast to discuss the Company’s first quarter 2026 financial results will be held on May 6, 2026, at 9:00 a.m. ET. The webcast and accompanying slide presentation may be accessed on the Company’s IR website at ir.iff.com. For those unable to listen to the live webcast, a recorded version will be made available on the Company’s website approximately one hour after the event and will remain available on IFF’s website for one year.
Cautionary Statement Under The Private Securities Litigation Reform Act of 1995
This press release includes statements that are not historical facts and are “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management’s current assumptions, estimates and expectations, including with respect to our financial and operational outlook (sales, adjusted operating EBITDA and cash flow), portfolio optimization initiatives (including the ongoing sale process for our Food Ingredients division), pricing, productivity and cost-discipline actions, capital allocation, future operations, growth potential, strategic investments and the expected effects of foreign exchange. These statements reflect management’s present views, are based on a series of expectations, assumptions, estimates and projections about the Company, are subject to change, and involve uncertainties that could cause actual results to differ materially.
Certain of such forward-looking information may be identified by such terms as “expect”, “anticipate”, “believe”, “intend”, “outlook”, “may”, “will”, “would”, “estimate”, “should”, “predict”, “plan”, “project”, “could”, “potential”, “seek”, “target”, “continue”, “future”, and similar terms or variations thereof. These statements are not guarantees of future performance and are subject to risks and uncertainties that could lead to materially different outcomes.
Such risks, uncertainties and other factors include, among others, the following: (1) demand trends, competitive dynamics and customer concentration in our end markets; (2) execution of our strategic transformation and other strategic transactions, divestitures, acquisitions, collaborations and joint ventures; (3) working capital and inventory management; (4) outcomes of legal claims, disputes, regulatory investigations and litigation; (5) tariffs and trade actions, supply chain disruptions and macro events, including geopolitical developments, climate events, natural disasters, public health crises; (6) volatility in input costs (such as raw materials, transportation and energy); (7) attraction, retention and turnover of key employees and executives; (8) product innovation, time-to-market, product safety and quality; (9) cybersecurity incidents, artificial intelligence related risks, data privacy and compliance with data protection laws; (10) exposure to emerging markets, foreign currency fluctuations and international regulatory and political risks; (11) capital allocation, dividend policy and potential impairments of tangible or intangible assets; (12) our indebtedness, credit rating, liquidity, and access to capital; (13) pension and postretirement obligations; (14) compliance with federal, state, local and international rules and regulations, and regulatory, environmental, anti-corruption and sanctions laws and related ethical business practices; (15) protection and enforcement of intellectual property; (16) changes in tax laws and policies, tax audits and outcomes, including potential tax liabilities related to prior transactions; and (17) changes in federal, state, local and international rules and regulations.
The foregoing list of important factors does not include all such factors, nor necessarily present them in order of importance. Important factors are described under “Risk Factors” in our most recent Annual Report on Form 10-K and in our subsequent filings with the SEC, and those disclosures are incorporated herein by reference.
We intend our forward-looking statements to speak only as of the time of such statements and do not undertake or plan to update or revise them as more information becomes available or to reflect changes in expectations, assumptions or results, whether as a result of new information, future events or otherwise. We can give no assurance that such expectations or forward-looking statements will prove to be correct. An occurrence of, or any material adverse change in, one or more of the risk factors or risks and uncertainties referred to in this press release or included in our other periodic reports filed with the SEC could materially and adversely impact our operations and our future financial results.
Any public statements or disclosures made by us following this press release that modify or impact any of the forward-looking statements contained in or accompanying this press release will be deemed to modify or supersede such outlook or other forward-looking statements in or accompanying this press release.
Use of Non-GAAP Financial Measures
We provide in this press release non-GAAP financial measures, including: (i) comparable currency neutral sales; (ii) adjusted operating EBITDA and comparable currency neutral adjusted operating EBITDA; (iii) adjusted operating EBITDA margin; (iv) adjusted EPS ex amortization; (v) free cash flow; and (vi) net debt to credit adjusted EBITDA.
Our non-GAAP financial measures are defined below.
Currency Neutral metrics eliminate the effects that result from translating non-U.S. currencies to U.S. dollars. We calculate currency neutral numbers by translating current year invoiced sale amounts at the exchange rates used for the corresponding prior year period. We use currency neutral results in our analysis of segment performance. We also use currency neutral numbers when analyzing our performance against that of our competitors.
Comparable results for the first quarter exclude the impact of divestitures.
Adjusted operating EBITDA and adjusted operating EBITDA margin exclude depreciation and amortization, interest expense, other expense, net, and certain non-recurring or unusual items that are not part of recurring operations such as impairment of goodwill, restructuring and other charges, divestiture costs, strategic initiatives costs, regulatory costs and other items.
Adjusted EPS ex Amortization excludes the impact of non-operational items including restructuring and other charges, divestiture costs, losses (gains) on business disposals, strategic initiatives costs, regulatory costs and other items that are not a part of recurring operations.
Free Cash Flow is operating cash flow (i.e., cash flow from operations) less capital expenditures.
Net debt to credit adjusted EBITDA is the leverage ratio used in our credit agreements and defined as net debt (which is debt for borrowed money less cash and cash equivalents) divided by the trailing 12-month credit adjusted EBITDA. Credit adjusted EBITDA is defined as income (loss) before interest expense, income taxes, depreciation and amortization, specified items and non-cash items.
These non-GAAP measures are intended to provide additional information regarding our underlying operating results and comparable year-over-year performance. Such information is supplemental to information presented in accordance with GAAP and is not intended to represent a presentation in accordance with GAAP. In discussing our historical and expected future results and financial condition, we believe it is meaningful for investors to be made aware of and to be assisted in a better understanding of, on a period-to-period comparable basis, financial amounts both including and excluding these identified items, as well as the impact of exchange rate fluctuations. These non-GAAP measures should not be considered in isolation or as substitutes for analysis of the Company’s results under GAAP and may not be comparable to other companies’ calculation of such metrics.
The Company cannot reconcile its expected adjusted operating EBITDA under "Financial Guidance" without unreasonable effort because certain items that impact net income and other reconciling metrics are out of the Company's control and/or cannot be reasonably predicted at this time. These items include but are not limited to divestiture costs, gains (losses) on business disposals, and regulatory costs.
Welcome to IFF
At IFF (NYSE: IFF), we make joy through science, creativity and heart. As the global leader in flavors, fragrances, food ingredients, health and biosciences, we deliver groundbreaking, sustainable innovations that elevate everyday products—advancing wellness, delighting the senses and enhancing the human experience. Learn more at iff.com, LinkedIn, Instagram and Facebook.
International Flavors & Fragrances Inc.
Consolidated Statements of Income (Loss)
(Amounts in millions except per share data)
(Unaudited)
Three Months Ended March 31,
2026
2025
% Change
Net sales
$
2,741
$
2,843
(4
)%
Cost of sales
1,723
1,808
(5
)%
Gross profit
1,018
1,035
(2
)%
Research and development expenses
166
164
1
%
Selling and administrative expenses
427
461
(7
)%
Amortization of acquisition-related intangibles
146
143
2
%
Impairment of goodwill
—
1,153
NMF
Restructuring and other charges
6
17
(65
)%
Operating profit (loss)
273
(903
)
(130
)%
Interest expense
44
71
(38
)%
Losses on business disposals
7
—
NMF
Other expense, net
13
20
(35
)%
Income (loss) before taxes
209
(994
)
(121
)%
Provision for income taxes
39
23
70
%
Net income (loss)
170
(1,017
)
(117
)%
Net income attributable to non-controlling interests
1
1
—
%
Net income (loss) attributable to IFF shareholders
$
169
$
(1,018
)
(117
)%
Net income (loss) per share - basic and diluted
$
0.66
$
(3.98
)
Average number of shares outstanding - basic
256
256
Average number of shares outstanding - diluted
257
256
NMF Not meaningful
International Flavors & Fragrances Inc.
Condensed Consolidated Balance Sheets
(Amounts in millions)
(Unaudited)
March 31,
2026
December 31,
2025
Cash and cash equivalents
$
562
$
590
Receivables, net
1,830
1,731
Inventories
2,250
2,245
Assets held for sale
—
151
Prepaid expenses and other current assets
795
877
Total current assets
5,437
5,594
Property, plant and equipment, net
3,997
4,029
Goodwill and other intangibles, net
14,087
14,312
Other assets
1,623
1,604
Total assets
$
25,144
$
25,539
Short-term borrowings
$
1,078
$
1,254
Other current liabilities
2,567
2,679
Total current liabilities
3,645
3,933
Long-term debt
4,739
4,740
Non-current liabilities
2,607
2,680
Total Shareholders' equity including Non-controlling interests
14,153
14,186
Total liabilities and shareholders' equity
$
25,144
$
25,539
International Flavors & Fragrances Inc.
Consolidated Statements of Cash Flows
(Amounts in millions)
(Unaudited)
Three Months Ended March 31,
2026
2025
Cash flows from operating activities:
Net income (loss)
$
170
$
(1,017
)
Adjustments to reconcile to net cash provided by operating activities
Depreciation and amortization
246
236
Deferred income taxes
(15
)
(61
)
Losses on business disposals
7
—
Stock-based compensation
16
19
Pension contributions
(5
)
(5
)
Impairment of goodwill
—
1,153
Changes in assets and liabilities, net of acquisitions:
Trade receivables
(107
)
(116
)
Inventories
(33
)
(92
)
Accounts payable
176
154
Accruals for incentive compensation
(140
)
(246
)
Other assets/liabilities, net
(58
)
102
Net cash provided by operating activities
257
127
Cash flows from investing activities:
Additions to property, plant and equipment
(165
)
(179
)
Net proceeds received from business disposals
198
—
Cash (paid) received on foreign currency forward contracts
(10
)
22
Net cash provided by (used in) investing activities
23
(157
)
Cash flows from financing activities:
Cash dividends paid to shareholders
(102
)
(102
)
Net (repayments) borrowings of commercial paper (maturities less than three months)
(160
)
292
Principal payments of debt
—
(16
)
Purchases of treasury stock
(35
)
—
Other, net
(4
)
(5
)
Net cash (used in) provided by financing activities
(301
)
169
Effect of exchange rate changes on cash and cash equivalents
(7
)
40
Net change in cash and cash equivalents
(28
)
179
Cash and cash equivalents at beginning of year
590
471
Cash and cash equivalents at end of period
$
562
$
650
The following table reconciles cash and cash equivalents between the Company's statement of cash flows for the periods ended March 31, 2026 and March 31, 2025 to the amounts reported on the Company's balance sheet:
AMOUNTS IN MILLIONS
March 31, 2026
December 31, 2025
March 31, 2025
December 31, 2024
Current assets
Cash and cash equivalents
$
562
$
590
$
613
$
469
Cash and cash equivalents included in Assets held for sale
—
—
37
2
Cash and cash equivalents
$
562
$
590
$
650
$
471
The Company had no restricted cash as of March 31, 2026 and December 31, 2025.
International Flavors & Fragrances Inc.
Reportable Segment Performance
(Amounts in millions)
(Unaudited)
Three Months Ended March 31, 2026
Taste
Food Ingredients
Health & Biosciences
Scent
Total
Net Sales
$
656
$
839
$
595
$
651
$
2,741
Cost of Sales
(375
)
(646
)
(327
)
(375
)
Research & development expenses
(43
)
(14
)
(55
)
(54
)
Selling & administrative expenses
(101
)
(99
)
(92
)
(92
)
Depreciation expense add-back (a)
16
34
32
18
Adjusted Operating EBITDA
$
153
$
114
$
153
$
148
$
568
Reconciliation of Adjusted Operating EBITDA:
Total Adjusted Operating EBITDA
$
568
Depreciation & Amortization
(246
)
Interest Expense
(44
)
Other Expense, net
(13
)
Restructuring and Other Charges (b)
(6
)
Losses on Business Disposals (d)
(7
)
Divestiture Costs (e)
(24
)
Strategic Initiative Costs (f)
(9
)
Regulatory Costs (g)
(10
)
Income Before Taxes
$
209
Segment Adjusted Operating EBITDA Margin
Taste
23.3
%
Food Ingredients
13.6
%
Health & Biosciences
25.7
%
Scent
22.7
%
Consolidated
20.7
%
International Flavors & Fragrances Inc.
Reportable Segment Performance
(Amounts in millions)
(Unaudited)
Three Months Ended March 31, 2025
Taste
Food Ingredients
Health & Biosciences
Scent
Pharma Solutions
Total
Net Sales
$
627
$
796
$
540
$
614
$
266
$
2,843
Cost of Sales
(377
)
(609
)
(298
)
(344
)
(180
)
Research & development expenses
(40
)
(12
)
(52
)
(55
)
(5
)
Selling & administrative expenses
(94
)
(92
)
(81
)
(86
)
(32
)
Depreciation expense add-back (a)
15
28
29
15
5
Adjusted Operating EBITDA
$
131
$
111
$
138
$
144
$
54
$
578
Reconciliation of Adjusted Operating EBITDA:
Total Adjusted Operating EBITDA
$
578
Depreciation & Amortization
(236
)
Interest Expense
(71
)
Other Expense, net
(20
)
Restructuring and Other Charges (b)
(17
)
Impairment of Goodwill (c)
(1,153
)
Divestiture Costs (e)
(51
)
Strategic Initiatives Costs (f)
(8
)
Regulatory Costs (g)
(11
)
Other (h)
(5
)
Loss Before Taxes
$
(994
)
Segment Adjusted Operating EBITDA Margin
Taste
20.9
%
Food Ingredients
13.9
%
Health & Biosciences
25.6
%
Scent
23.5
%
Pharma Solutions
20.3
%
Consolidated
20.3
%
(a)
There is depreciation recorded within cost of sales, research & development expenses, and selling & administrative expenses, which is then added back to calculate segment Adjusted Operating EBITDA. This reflects how the CODM reviews Segment results.
(b)
Represents costs related to severance as part of the IFF Productivity Program.
(c)
For 2025, represents the impairment of goodwill related to the Food Ingredients reporting unit.
(d)
For 2026, primarily represents losses recognized as part of the divestiture of the Soy, Concentrates and Lecithin disposal group.
(e)
For 2026 and 2025, primarily represents costs related to the Company’s completed and anticipated divestitures. These costs primarily consisted of external consulting fees, professional and legal fees and salaries of individuals who are fully dedicated to such efforts.
(f)
Represents costs related to the Company’s strategic assessment and business portfolio optimization efforts and reorganizing the Global Business Services (GBS) Centers. In 2026, the GBS reorganization has been expanded to include additional functions such as customer service, supply chain and logistics in addition to human resources, accounting and finance, as well as additional efforts to automate processes and expand the use of artificial intelligence (AI) for these functions. These costs primarily consisted of external consulting fees and salaries of individuals who are fully dedicated to such efforts. Costs to develop software and AI are only included to the extent that they do not qualify for capitalization.
(g)
Represents costs primarily related to legal fees incurred and provisions recognized for the ongoing investigations of the fragrance businesses.
(h)
For 2025, represents the net impact of costs related to severance, including accelerated stock compensation expense, for certain executives who have separated from the Company, in addition to consulting costs related to the Company’s implementation of a phased restructuring initiative aimed at optimizing its legal entity framework.
International Flavors & Fragrances Inc.
GAAP to Non-GAAP Reconciliation
(Unaudited)
The following information and schedules provide reconciliation information between reported GAAP amounts and non-GAAP certain adjusted amounts. This information and schedules are not intended as, and should not be viewed as, a substitute for reported GAAP amounts or financial statements of the Company prepared and presented in accordance with GAAP.
For the three months ended March 31, 2026 and 2025, there was no difference between Reported (GAAP) and Adjusted (Non-GAAP) gross profit.
Reconciliation of Selling and Administrative Expenses
First Quarter
(DOLLARS IN MILLIONS)
2026
2025
Reported (GAAP)
$
427
$
461
Divestiture Costs (c)
(24
)
(51
)
Strategic Initiative Costs (e)
(9
)
(8
)
Regulatory Costs (f)
(10
)
(11
)
Other (g)
—
(6
)
Adjusted (Non-GAAP)
$
384
$
385
International Flavors & Fragrances Inc.
GAAP to Non-GAAP Reconciliation
(Unaudited)
The following information and schedules provide reconciliation information between reported GAAP amounts and non-GAAP certain adjusted amounts. This information and schedules are not intended as, and should not be viewed as, a substitute for reported GAAP amounts or financial statements of the Company prepared and presented in accordance with GAAP.
Reconciliation of Net Income (Loss) and EPS
First Quarter
2026
2025
(DOLLARS IN MILLIONS EXCEPT PER SHARE AMOUNTS)
Income (Loss) before taxes
Provision for income taxes (h)
Net income (loss) attributable to IFF (i)
Diluted EPS
(Loss) Income before taxes
Provision for income taxes (h)
Net (loss) income attributable to IFF (i)
Diluted EPS
Reported (GAAP)
$
209
$
39
$
169
$
0.66
$
(994
)
$
23
$
(1,018
)
$
(3.98
)
Restructuring and Other Charges (a)
6
2
4
0.02
17
4
13
0.05
Impairment of Goodwill (b)
—
—
—
—
1,153
7
1,146
4.48
Divestiture Costs (c)
24
5
19
0.07
51
12
39
0.15
Losses on Business Disposals (d)
7
1
6
0.02
—
—
—
—
Strategic Initiative Costs (e)
9
3
6
0.03
8
2
6
0.02
Regulatory Costs (f)
10
3
7
0.03
11
3
8
0.03
Other (g)
—
—
—
—
5
1
4
0.02
Adjusted (Non-GAAP)
$
265
$
53
$
211
$
0.83
$
251
$
52
$
198
$
0.77
Reconciliation of Adjusted (Non-GAAP) EPS ex. Amortization
First Quarter
(DOLLARS AND SHARE AMOUNTS IN MILLIONS)
2026
2025
Numerator
Adjusted (Non-GAAP) Net Income
$
211
$
198
Amortization of Acquisition related Intangible Assets
146
143
Tax impact on Amortization of Acquisition related Intangible Assets (h)
36
35
Amortization of Acquisition related Intangible Assets, net of tax (j)
110
108
Adjusted (Non-GAAP) Net Income ex. Amortization
$
321
$
306
Denominator
Weighted average shares assuming dilution (diluted)
257
256
Adjusted (Non-GAAP) EPS ex. Amortization
$
1.25
$
1.20
(a)
Represents costs related to severance as part of the IFF Productivity Program.
(b)
For 2025, represents the impairment of goodwill related to the Food Ingredients reporting unit.
(c)
For 2026 and 2025, primarily represents costs related to the Company’s completed and anticipated divestitures. These costs primarily consisted of external consulting fees, professional and legal fees and salaries of individuals who are fully dedicated to such efforts.
(d)
For 2026, primarily represents losses recognized as part of the divestiture of the Soy, Concentrates and Lecithin disposal group.
(e)
Represents costs related to the Company’s strategic assessment and business portfolio optimization efforts and reorganizing the Global Business Services (GBS) Centers. In 2026, the GBS reorganization has been expanded to include additional functions such as customer service, supply chain and logistics in addition to human resources, accounting and finance, as well as additional efforts to automate processes and expand the use of artificial intelligence (AI) for these functions. These costs primarily consisted of external consulting fees and salaries of individuals who are fully dedicated to such efforts. Costs to develop software and AI are only included to the extent that they do not qualify for capitalization.
(f)
For 2026 and 2025, represents costs primarily related to legal fees incurred and provisions recognized for the ongoing investigations of the fragrance business.
(g)
For 2025, represents the net impact of costs related to severance, including accelerated stock compensation expense, for certain executives who have separated from the Company, in addition to consulting costs related to the Company’s implementation of a phased restructuring initiative aimed at optimizing its legal entity framework.
(h)
The income tax effects of non-GAAP adjustments are calculated based on the applicable statutory tax rate for the relevant jurisdiction, except for those items which are non-taxable or subject to valuation allowances for which the tax expense (benefit) was calculated at 0%. The tax benefit for amortization is calculated in a similar manner as the tax effects of the non-GAAP adjustments.
(i)
For 2026 and 2025, reported and adjusted net income (loss) are each decreased by income attributable to non-controlling interest of $1 million.
(j)
Represents all amortization of intangible assets acquired in connection with acquisitions, net of tax.
International Flavors & Fragrances Inc.
Debt Covenants
(Amounts in millions)
(Unaudited)
The following information and schedules provide reconciliation information between reported GAAP amounts and non-GAAP certain adjusted amounts. This information and schedules are not intended as, and should not be viewed as, a substitute for reported GAAP amounts or financial statements of the Company prepared and presented in accordance with GAAP.
Reconciliation of Credit Adjusted EBITDA to Net Loss
(DOLLARS IN MILLIONS)
Twelve Months Ended March 31, 2026
Net income
$
815
Interest expense
202
Income taxes
(24
)
Depreciation and amortization
972
Specified items(1)
(178
)
Non-cash items(2)
307
Credit Adjusted EBITDA
$
2,094
Net Debt to Total Debt
(DOLLARS IN MILLIONS)
March 31, 2026
Total debt(1)
$
5,850
Adjustments:
Cash and cash equivalents
562
Net debt
$
5,288
International Flavors & Fragrances Inc.
Comparable Reportable Segment Performance
(Amounts in millions)
(Unaudited)
The following information and schedule provides reconciliation information between reported GAAP amounts and non-GAAP certain adjusted amounts. This information and schedule is not intended as, and should not be viewed as, a substitute for reported GAAP amounts or financial statements of the Company prepared and presented in accordance with GAAP.
Three Months Ended March 31,
2026
2025
Net Sales
Taste(1)
$
656
$
621
Food Ingredients(2)
839
779
Health & Biosciences
595
540
Scent
651
614
Pharma Solutions(3)
—
—
Consolidated
$
2,741
$
2,554
Segment Adjusted Operating EBITDA(5)
Taste(1)
$
153
$
125
Food Ingredients(2)
114
108
Health & Biosciences
153
135
Scent
148
141
Pharma Solutions(3)
—
—
Total
568
509
Depreciation & Amortization
(246
)
(236
)
Interest Expense
(44
)
(71
)
Other Expense, Net
(13
)
(20
)
Restructuring and Other Charges
(6
)
(17
)
Impairment of Goodwill
—
(1,153
)
Losses on Business Disposals
(7
)
—
Divestiture Costs
(24
)
(51
)
Strategic Initiative Costs
(9
)
(8
)
Regulatory Costs
(10
)
(11
)
Other
—
(5
)
Impact of Business Divestitures(4)
—
69
Income (Loss) Before Taxes
$
209
$
(994
)
Segment Adjusted Operating EBITDA Margin
Taste
23.3
%
20.1
%
Food Ingredients
13.6
%
13.9
%
Health & Biosciences
25.7
%
25.0
%
Scent
22.7
%
23.0
%
Consolidated
20.7
%
19.9
%
____________________ (1)
Taste sales and segment adjusted operating EBITDA information exclude the results of the Rene Laurent business that was divested on December 1, 2025, to present fully comparable scenarios.
(2)
Food Ingredients sales and segment adjusted operating EBITDA information exclude the results of the Soy Crush, Concentrates, and Lecithin business (the “SCL disposal group”) that was divested on March 2, 2026, to present fully comparable scenarios.
(3)
Pharma Solutions sales and segment adjusted operating EBITDA information exclude the results of the Pharma Solutions disposal group and Nitrocellulose business that were divested on May 1, 2025 and May 9, 2025, respectively, to present fully comparable scenarios.
(4)
Amounts exclude the results of the Rene Laurent business that was divested on December 1, 2025, the SCL disposal group that was divested on March 2, 2026, and the Pharma Solutions disposal group and Nitrocellulose business that were divested on May 1, 2025 and May 9, 2025, respectively, to present fully comparable scenarios.
(5)
Following the completed divestitures of the Pharma Solutions disposal group on May 1, 2025 and the Nitrocellulose business on May 9, 2025, the Company reallocated certain corporate costs previously attributed to the Pharma Solutions segment. These costs have been redistributed across the Taste, Food Ingredients, Health & Biosciences, and Scent segments.
For the Three Months Ended March 31, 2025
Selling & Administrative Expenses
Total EBITDA Impact
Taste
$
3
$
(3
)
Food Ingredients
4
(4
)
Health & Biosciences
3
(3
)
Scent
3
(3
)
Total
$
13
$
(13
)
International Flavors & Fragrances Inc.
GAAP to Non-GAAP Reconciliation
Comparable Foreign Exchange Impact
(Unaudited)
Q1 2026 Taste
Sales
Segment Adjusted Operating EBITDA
Segment Adjusted Operating EBITDA Margin
% Change - Reported
5%
17%
2.4%
Portfolio Impact
1%
6%
0.8%
% Change - Comparable
6%
22%
3.2%
Currency Impact
(4)%
(4)%
(0.1)%
% Change - Currency Neutral
2%
18%
3.1%
Q1 2026 Food Ingredients
Sales
Segment Adjusted Operating EBITDA
Segment Adjusted Operating EBITDA Margin
% Change - Reported
5%
3%
(0.3)%
Portfolio Impact
2%
3%
0.0%
% Change - Comparable
8%
6%
(0.3)%
Currency Impact
(5)%
6%
1.5%
% Change - Currency Neutral
3%
12%
1.2%
Q1 2026 Health & Biosciences
Sales
Segment Adjusted Operating EBITDA
Segment Adjusted Operating EBITDA Margin
% Change - Reported
10%
11%
0.1%
Portfolio Impact
0%
2%
0.6%
% Change - Comparable
10%
13%
0.7%
Currency Impact
(5)%
(6)%
(0.1)%
% Change - Currency Neutral
5%
7%
0.6%
Q1 2026 Scent
Sales
Segment Adjusted Operating EBITDA
Segment Adjusted Operating EBITDA Margin
% Change - Reported
6%
3%
(0.8)%
Portfolio Impact
0%
2%
0.5%
% Change - Comparable
6%
5%
(0.3)%
Currency Impact
(5)%
(7)%
(0.5)%
% Change - Currency Neutral
1%
(2)%
(0.8)%
Q1 2026 Consolidated
Sales
Adjusted Operating EBITDA
Adjusted Operating EBITDA Margin
% Change - Reported
(4)%
(2)%
0.4%
Portfolio Impact
11%
13%
0.4%
% Change - Comparable
7%
12%
0.8%
Currency Impact
(4)%
(4)%
0.3%
% Change - Currency Neutral
3%
8%
1.1%
____________________ Note: The sum of these items may not foot due to rounding.
Food ingredients maker International Flavors & Fragrances beat Wall Street expectations for first-quarter sales and profit on Tuesday, helped by steady demand for its products.
For the quarter ended March 2026, International Flavors (IFF - Free Report) reported revenue of $2.74 billion, down 3.6% over the same period last year. EPS came in at $1.25, compared to $1.20 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.65 billion, representing a surprise of +3.44%. The company delivered an EPS surprise of +16.01%, with the consensus EPS estimate being $1.08.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how International Flavors performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Health & Biosciences: $595 million versus $558.02 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +10.2% change.Net Sales- Scent: $651 million versus $645.55 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +6% change.Net Sales- Taste: $656 million compared to the $645.93 million average estimate based on four analysts.Net Sales- Food Ingredients: $839 million versus $795.84 million estimated by four analysts on average.Adjusted Operating EBITDA- Health & Biosciences: $153 million versus $149.53 million estimated by four analysts on average.Adjusted Operating EBITDA- Food Ingredients: $114 million versus $108.21 million estimated by four analysts on average.Adjusted Operating EBITDA- Taste: $153 million versus the four-analyst average estimate of $135.15 million.Adjusted Operating EBITDA- Scent: $148 million compared to the $149.69 million average estimate based on four analysts.View all Key Company Metrics for International Flavors here>>>
Shares of International Flavors have returned -2.4% over the past month versus the Zacks S&P 500 composite's +9.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
International Flavors (IFF - Free Report) came out with quarterly earnings of $1.25 per share, beating the Zacks Consensus Estimate of $1.08 per share. This compares to earnings of $1.2 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +16.01%. A quarter ago, it was expected that this ingredients producer for food, cosmetics and consumer products industries would post earnings of $0.85 per share when it actually produced earnings of $0.8, delivering a surprise of -5.88%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
International Flavors, which belongs to the Zacks Chemical - Specialty industry, posted revenues of $2.74 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 3.44%. This compares to year-ago revenues of $2.84 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
International Flavors shares have added about 4% since the beginning of the year versus the S&P 500's gain of 5.2%.
What's Next for International Flavors?While International Flavors has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for International Flavors was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.15 on $2.74 billion in revenues for the coming quarter and $4.42 on $10.65 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Chemical - Specialty is currently in the bottom 27% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Neo Performance Materials Inc. (NOPMF - Free Report) , has yet to report results for the quarter ended March 2026. The results are expected to be released on May 12.
This company is expected to post quarterly earnings of $0.19 per share in its upcoming report, which represents a year-over-year change of +137.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Neo Performance Materials Inc.'s revenues are expected to be $130.33 million, up 7.2% from the year-ago quarter.
Key Takeaways IFF reported Q1 EPS of $1.25, beating estimates, with sales topping consensus despite a 3.6% YoY decline.IFF saw margin expansion and 11.6% EBITDA growth driven by productivity gains and broad volume increases.IFF reaffirmed 2026 guidance and is advancing Food Ingredients divestiture to unlock shareholder value. International Flavors & Fragrances Inc. (IFF - Free Report) reported adjusted earnings of $1.25 per share in first-quarter 2026, up 4.2% year over year. The result beat the Zacks Consensus Estimate of $1.08 by 15.7%.
Including one-time items, the company reported earnings of 66 cents per share against the prior-year quarter’s loss of $3.98.
International Flavors’ quarterly net sales were $2.741 billion, down 3.6% from the year-ago period but 3.4% above the $2.65 billion consensus mark. On a comparable currency-neutral basis, sales increased 3%, supported by volume gains across all four segments.
IFF's Q1 Margins Improved on Productivity GainsBelow the top line, IFF’s quarter reflected better operating execution despite the headline sales decline. In the reported quarter, IFF’s cost of goods sold was down 5% year over year to $1.7 billion. Gross profit dipped 1.6% to around $1 billion. The gross margin came in at 37.1% compared with 36.4% in the year-ago quarter.
Research and development expenses decreased 7.4% year over year to $427 million. Selling and administrative expenses inched up 1.2% to $166 million in the quarter. Adjusted operating EBITDA came in at $568 million, up 11.6% from the prior-year quarter’s $509 million. The adjusted operating EBITDA margin was 20.7% compared with the year-ago quarter’s 17.9%.
On a comparable currency-neutral basis, adjusted operating EBITDA improved 8% compared with the prior year, aided by volume growth and productivity gains.
International Flavors' Segments Show Broad Volume GrowthNet sales in the Taste segment increased 5.6% year over year to $656 million in quarter. The figure surpassed our estimate of $649 million. On a comparable basis, currency neutral sales rose 2% with broad-based growth in all regions. The segment’s adjusted operating EBITDA was $153 million, down 29% year over year. Our estimate for the segment’s adjusted EBITDA was $139 million.
Net sales in the Food Ingredients segment rose 7.7% year over year to $839 million in the March-ended quarter. The figure beat our estimate of $797 million. On a comparable basis, currency neutral sales rose 3% attributed to volume growth in nearly all businesses. The adjusted operating EBITDA was $114 million, up 5.6% year over year. Our estimate for the segment’s adjusted EBITDA was $118 million.
Sales generated in the Health & Bioscience segment were $595 million compared with the year-earlier quarter’s $540 million. Our estimate was $558 million. On a comparable basis, currency neutral sales were up 5% with growth in nearly all businesses, led by Animal Nutrition and Food Biosciences. The adjusted operating EBITDA was $153 million in the quarter, up 13.3% year over year. Our estimate for the segment’s adjusted EBITDA was $169 million.
The Scent segment’s sales were $651 million, up 6% year over year. Our projection was $637 million. On a comparable basis, currency neutral sales inched up 1% as growth in Consumer Fragrances and Fine Fragrances was partially offset by a decline in Fragrance Ingredients. The adjusted operating EBITDA increased 5% year over year to $148 million. Our model had projected EBITDA of $158 million.
International Flavors' Cash Flow Rose, Leverage SteadyCash generation improved meaningfully with International Flavors generating $257 million in cash from operating activities in the first quarter, higher than $1.27 million in the prior-year quarter. Free cash flow was at $92 million after $165 million of capital expenditures.
IFF had cash and cash equivalents of $562 million at the end of the first quarter of 2026, down from $590 million at the end of 2025. Long-term debt was $4.74 billion at the quarter-end compared with $4.74 billion at the end of 2025. Net debt to credit adjusted EBITDA was 2.5x.
International Flavors Maintains 2026 GuidanceLooking ahead, IFF reaffirmed its full-year 2026 guidance despite what management described as an unsettled operating environment. The company expects sales for fiscal 2026 between $10.5 billion and $10.8 billion. Adjusted EBITDA is expected between $2.05 billion and $2.15 billion.
International Flavors continues to expect comparable currency neutral sales growth to be between 1% to 4%, and comparable currency neutral adjusted operating EBITDA growth to be 3-8%.
IFF's Food Ingredients Review and Portfolio ActionsPortfolio actions remained a key part of the quarter’s narrative. IFF said it is progressing a disciplined sale process for its Food Ingredients business as it works to maximize value for shareholders. The company also updated the timing assumptions embedded in its full-year view following the divestiture of its Soy Crush, Concentrates and Lecithin business, which closed on March 2, 2026.
IFF Stock’s Price PerformanceIn the past year, the company’s shares have lost 6% against the industry’s growth of 4.6%.
Image Source: Zacks Investment Research
International Flavors’ Zacks RankIFF currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Chemical - Specialty Stocks in Q1Linde plc (LIN - Free Report) reported first-quarter 2026 adjusted earnings per share (EPS) of $4.33, up 10% from $3.95 a year ago. The figure topped the Zacks Consensus Estimate of $4.27 by 1.41%.
Total quarterly revenues of $8.78 billion rose 8% from $8.11 billion recorded in the year-ago period. The top line beat the Zacks Consensus Estimate of $8.51 billion by 3.17%. The strong quarterly results can be attributed to higher pricing and incremental project start-ups, which supported underlying growth.
PPG Industries, Inc. (PPG - Free Report) delivered adjusted earnings of $1.83 per share in the first quarter of 2026, up 6.4% year over year and in line with the Zacks Consensus Estimate.
Revenues came in at $3.93 billion, up 6.7% from the year-ago quarter and ahead of the consensus mark of $3.84 billion by 2.4%. Results benefited from higher selling prices and a sizable foreign currency translation lift, while organic sales increased 1% year over year.
The Sherwin-Williams Company (SHW - Free Report) reported first-quarter 2026 earnings of $2.15 per share, up 7.5% from the year-ago quarter figure of $2.
Barring one-time items, earnings were $2.35 per share. The bottom line beat the Zacks Consensus Estimate of $2.24, delivering an earnings surprise of 4.9%.
Revenues were $5.67 billion, up 6.8% year over year and ahead of the Zacks Consensus Estimate of $5.57 billion. Net income rose 6.1% to $534.7 million, representing 9.4% of net sales, as management pointed to growth initiatives and share gains despite soft demand conditions. Sherwin-Williams attributed the improvement primarily to higher sales and moderating raw material costs, partially offset by the dilutive impact of the Suvinil acquisition.
Advancing sustainable, high-quality naturals through end‑to‑end stewardship
GRASSE, France--(BUSINESS WIRE)--LMR Naturals by IFF — a global leader in natural ingredients for perfumery, cosmetics and flavors — will debut its latest innovations at the International Exhibition of Raw Materials for Perfumery (SIMPPAR), May 26–27 in Grasse. During the industry event, IFF will unveil new additions to its LMR Hearts collection, highlighting its naturals expertise and pioneering science.
“Responsible innovation has always been central to LMR,” said Bertrand de Préville, general manager of LMR. “Our strength lies in our ability to master the full range of natural technologies to support perfumers’ creativity. We’re connecting nature, science and creation to drive sustainable growth and deliver added value to our customers at global scale.”
Four New LMR Hearts Introduced at SIMPPAR
LMR Naturals’ new LMR Hearts, each developed through long‑term sourcing partnerships, sustainable agricultural practices and precision molecular distillation and fractionation at LMR’s Grasse site include:
Lavandin Heart France, with a strong coumarin profile for a more gourmand note Armoise Heart Morocco, which is richer in thujones for a fresher, more diffusive impact Ylang Heart Madagascar, offering a unique “extra grade”, creamy and solar olfactive profile Geranium Heart Egypt, featuring a fruity-lychee profile without conventional minty aspects “These new Hearts illustrate how science and sourcing expertise can elevate natural ingredients,” said Bernard Blerot, VP R&D Naturals at IFF. “They provide greater purity and focus while maintaining the integrity of the natural material and demonstrate our team’s scientific stewardship.”
Natural Ingredients Innovation
The four LMR Hearts launched at SIMPPAR follow several natural ingredient innovations introduced earlier this year, including:
Tonka Bean CO₂ Absolute, produced using renewable supercritical CO₂ extraction at LMR’s Aumont‑Aubrac facility in France Osmanthus Absolute Fruity China, a fruit‑forward interpretation developed as a captive natural for IFF perfumers Pulpextract™ Passion Fruit and Raspberry, two new fruit ingredients offering vivid, juicy profiles exclusively for IFF perfumers Each new natural ingredient responds to sustained consumer interest in fruity and gourmand fragrance notes, which IFF insights show make up a significant and enduring share of women’s fragrances. LMR strives to continuously expand the perfumer’s palette with naturals that combine innovation, sustainability and olfactive expression.
These launches support IFF’s 25‑year investment in LMR and sustainable, natural materials, embedding pioneering science — from seed and cultivation to harvesting and extraction — in perfumers' creativity at scale. In late May, IFF will further strengthen this integrated ecosystem with the inauguration of the Domaine des Naturals LMR in Grasse, a dedicated experimental field for raw materials that underscores its long‑term commitment to the future of naturals and innovation.
LMR Naturals’ integrated natural ingredients platform combines long‑term sourcing partnerships, agronomy‑led sustainability programs and internally operated extraction technologies — including molecular distillation, fractionation, CO₂ extraction and more. By operating these technologies on its own sites, LMR Naturals and its internal team of experts can focus on the most desirable olfactive molecules as selected by perfumers. With this approach, LMR Naturals delivers traceable, sustainable and performance‑driven natural ingredients for fine fragrance and other applications.
About LMR Naturals by IFF
Founded in 1983 by Monique Rémy and acquired by IFF in 2000, LMR Naturals is a trademarked capability within IFF dedicated to the development of high‑quality, innovative and sustainably sourced natural ingredients. LMR Naturals supports perfumers worldwide with a broad portfolio of naturals across fine fragrance, beauty, personal care, home care and flavorists with taste applications.
For more information, visit https://www.iff.com/scent/lmr-naturals/.
Welcome to IFF
At IFF (NYSE: IFF), we make joy through science, creativity and heart. As the global leader in taste, scent, food ingredients, health and biosciences, we’re innovating for the future. Every day, we deliver groundbreaking, sustainable solutions that elevate products people love — advancing wellness, delighting the senses and enhancing the human experience. Learn more at iff.com, LinkedIn, Instagram and Facebook.
CocaCola (NYSE:KO) EVP Jennifer Mann Sells 23,984 SharesMarketBeat
CocaCola Company (The) (NYSE:KO - Get Free Report) EVP Jennifer Mann sold 23,984 shares of the firm's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $83.41, for a total value of $2,000,505.44. Following the completion of the transaction, the executive vice president owned 157,400 shares of the company's stock, valued at approximately $13,128,734. The trade was a 13.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
NYSE:KO
Read CocaCola (NYSE:KO) EVP Jennifer Mann Sells 23,984 Shares
3 hours ago
Dutch Bros (NYSE:BROS) Major Shareholder Sells $15,759,829.98 in StockMarketBeat
Dutch Bros Inc. (NYSE:BROS - Get Free Report) major shareholder Dm Individual Aggregator, Llc sold 261,054 shares of the company's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $60.37, for a total transaction of $15,759,829.98. Following the completion of the sale, the insider owned 2,671,855 shares in the company, valued at $161,299,886.35. This represents a 8.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.
NYSE:BROS
Read Dutch Bros (NYSE:BROS) Major Shareholder Sells $15,759,829.98 in Stock
3 hours ago
Insider Selling: Dutch Bros (NYSE:BROS) Major Shareholder Sells 261,055 Shares of StockMarketBeat
Dutch Bros Inc. (NYSE:BROS - Get Free Report) major shareholder Dm Individual Aggregator, Llc sold 261,055 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $63.02, for a total value of $16,451,686.10. Following the completion of the transaction, the insider owned 2,410,800 shares in the company, valued at approximately $151,928,616. This trade represents a 9.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.
NYSE:BROS
Read Insider Selling: Dutch Bros (NYSE:BROS) Major Shareholder Sells 261,055 Shares of Stock
3 hours ago
Travis Boersma Sells 749,999 Shares of Dutch Bros (NYSE:BROS) StockMarketBeat
Dutch Bros Inc. (NYSE:BROS - Get Free Report) Chairman Travis Boersma sold 749,999 shares of Dutch Bros stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $60.39, for a total transaction of $45,292,439.61. Following the completion of the sale, the chairman owned 2,671,855 shares of the company's stock, valued at $161,353,323.45. This represents a 21.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
