NRG Energy (NRG - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.
Over the past month, shares of this power company have returned -8%, compared to the Zacks S&P 500 composite's -1.6% change. During this period, the Zacks Utility - Electric Power industry, which NRG falls in, has lost 1.4%. The key question now is: What could be the stock's future direction?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Earnings Estimate RevisionsRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For the current quarter, NRG is expected to post earnings of $2.12 per share, indicating a change of +26.2% from the year-ago quarter. The Zacks Consensus Estimate has changed -3% over the last 30 days.
The consensus earnings estimate of $8.98 for the current fiscal year indicates a year-over-year change of +11.3%. This estimate has changed +1.8% over the last 30 days.
For the next fiscal year, the consensus earnings estimate of $11.39 indicates a change of +26.9% from what NRG is expected to report a year ago. Over the past month, the estimate has changed +2%.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for NRG.
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Revenue Growth ForecastWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.
In the case of NRG, the consensus sales estimate of $6.27 billion for the current quarter points to a year-over-year change of -6.9%. The $35.58 billion and $31.23 billion estimates for the current and next fiscal years indicate changes of +15.8% and -12.2%, respectively.
Last Reported Results and Surprise HistoryNRG reported revenues of $10.26 billion in the last reported quarter, representing a year-over-year change of +19.5%. EPS of $1.48 for the same period compares with $2.62 a year ago.
Compared to the Zacks Consensus Estimate of $7.11 billion, the reported revenues represent a surprise of +44.21%. The EPS surprise was -16.85%.
Over the last four quarters, NRG surpassed consensus EPS estimates three times. The company topped consensus revenue estimates each time over this period.
ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.
Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
NRG is graded B on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about NRG. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
In the latest close session, NRG Energy (NRG - Free Report) was up +2.53% at $123.70. The stock's change was more than the S&P 500's daily gain of 1.75%. At the same time, the Dow added 1.86%, and the tech-heavy Nasdaq gained 2.54%.
Shares of the power company witnessed a loss of 7.96% over the previous month, trailing the performance of the Utilities sector with its loss of 1.9%, and the S&P 500's loss of 1.63%.
Analysts and investors alike will be keeping a close eye on the performance of NRG Energy in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $2.12, reflecting a 26.19% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $6.27 billion, down 6.93% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $8.98 per share and a revenue of $35.58 billion, demonstrating changes of +11.28% and +15.85%, respectively, from the preceding year.
Any recent changes to analyst estimates for NRG Energy should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.84% higher. At present, NRG Energy boasts a Zacks Rank of #3 (Hold).
In terms of valuation, NRG Energy is presently being traded at a Forward P/E ratio of 13.44. For comparison, its industry has an average Forward P/E of 17.84, which means NRG Energy is trading at a discount to the group.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 148, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Before the opening bell on Monday, a member of our Discord community – Greg (.odd.1.) – spotted something unusual in the options market.
Institutional traders had been quietly accumulating options on the Invesco QQQ Trust over the past few weeks. And the flow suggested that something bigger might be brewing beneath the surface.
Once he discovered the signal, he realized there was one big catch…
Between rising geopolitical tensions involving the U.S. and Iran, shifting liquidity conditions, and sharp swings in tech stocks , the QQQ could easily break in either direction.
So instead of trying to guess the market’s next move, he took a page right out of the Masters in Trading playbook: He hedged the trade.
Specifically, he built a strangle. That’s when you buy a call and a put with different strike prices but the same expiration date.
That strategy lets you position for a large move without needing to predict which direction the stock will go.
That large move Greg was looking for hit much faster than he expected.
Greg bought contracts Monday morning. By the end of the trading day, he was up over 536%!
Strangles are just one of the tools we use here at Masters in Trading. [You can watch my full lesson on strangles and straddles right here.]
We also use straddles, spreads, and other setups designed to profit from volatility itself — not just market direction.
Right now, this kind of flexibility matters more than ever.
Markets are in panic mode amid the escalating Iran-U.S. war. Crude futures are spiking.
Major indexes like the S&P 500 and Nasdaq are taking massive hits, with both down roughly 7% this week.
Bonds bottomed out with their largest sell-off in nine months throughout February and early March.
In other words, the market that looked “stable” only days ago suddenly feels very different.
And this is exactly the environment where traditional long-term portfolios struggle the most — when volatility expands overnight.
But remember something important.
There is always a bull market somewhere.
Where the New Bull Market Lives
Right now, the bull market isn’t broad — it’s just concentrated in key assets like energy stocks, crude, and industrial metals.
When volatility spikes across these asset classes at the same time, it tells you something important: institutional capital is repositioning away from risk in droves.
We saw it last year with the endless tariff shock headlines and AI-driven sell-offs. We’re seeing the same exact thing happen right now.
But here at Masters in Trading, the goal isn’t to eliminate risk completely.
The goal is to control it.
We look for moments when institutional positioning and probability signals start to diverge from what the broader markets are pricing in. Then we structure trades around that gap.
That means positioning ourselves so we can capture significant upside while limiting our exposure to risk — no matter which direction the market ultimately breaks.
This is the strategy that keeps our capital at work even when markets melt down.
Whether you’re taking my recommendations or applying the Masters in Trading playbook to your own trades like Greg did…
Now is the time to lean into our options trading fundamentals.
The next place to look for profitable setups is in volatility itself. That’s our edge.
And just like I taught Greg and all the other members of the Masters in Trading community, it all comes down to the key charts showing us where volatility is building next.
For the last month, I’ve been highlighting our five alarm, early warning system of volatility indicators to figure out exactly where the next volatility-based plays are emerging.
And I’ve been repeating one thing over and over:
The market cannot rally until the front end of the yield curve turns.
Last week, it finally did.
Short-dated yields started falling faster than longer-dated yields — something investors call a bull steepening of the yield curve. That shift typically signals expectations for easier monetary policy, future rate cuts, and increased liquidity in financial markets.
So that’s one out of five charts shifting in the right direction. But just because one chart is turning doesn’t mean we can breathe a sigh of relief just yet.
Next, we watch the VVIX.
Think of the VVIX as volatility of volatility — a measure of how aggressively traders are buying protection in the options market.
Right now, it’s still elevated around 120.
Until that comes down, broad stock market rallies will likely struggle to gain momentum.
Now we zoom out to the yen carry trade.
This global strategy involves borrowing cheap yen and investing the money into higher-yielding assets like U.S. stocks or bonds.
When the yen weakens, the carry trade strengthens — which usually supports U.S. equities. Lately, the yen has been moving fast again.
The last time we saw a move like this was August 2024, when global markets sold off sharply. That’s a key level for us from here. A weakening yen keeps the carry trade in play.
Finally, we monitor one of the most important signals in the energy market: The 3-2-1 crack spread.
This measures the profit margin oil refiners earn by turning crude oil into gasoline and diesel.
When the crack spread rises, refinery stocks tend to follow. And right now? It’s ripping higher.
That’s not surprising when you consider that roughly 20% of global oil and natural-gas flows move through the Strait of Hormuz.
Any threat to that supply instantly pushes energy prices higher.
And when margins expand, refiners outperform. That’s why names like DK, DINO, and PSX are strong.
Each of these charts is flashing alarms through the global financial system. They’re broadly signaling a shift away from risk. Commodities and other safe havens are soaring amid a major repricing moment in the broader market.
Markets aren’t collapsing — but they aren’t fully confident either. They’re hovering right on the edge of a larger move.
That uncertainty causes most investors to panic. But for traders like us who understand volatility, it creates opportunity.
Because our strategy doesn’t rely on predicting the market perfectly.
Instead, we stay proactive — not reactive.
If markets drop? We position with puts.
If momentum builds higher? We ride the breakout. That’s how we captured:
30% gains on a uranium trade this week 330% gains on an AI trade in Fastly (FSLY) — even during one of the worst tech selloffs so far this year And a massive triple on CVR Energy (CVI) in just under two months Each of these trades is based on the same volatility signals I highlight every day. The same system I’ve perfected over 28+ years. Consistent, repeatable, and profitable in any market.
And right now, I’m working on a complete overhaul of the essential technology behind that system. And it’s set to change the way we trade unusual options activity forever.
The New Unusual Options Activity (UOA) Scanner
AI is making it possible to turn trading ideas into sophisticated tools faster than ever before.
In the past, building something like this required explaining every detail to a developer — then waiting weeks to see the results.
Now we can build, test, and refine these tools in days.
And what we’re working on now will dramatically improve how we identify smart-money options flow.
All of this is factoring into the new Unusual Options Activity (UOA) Scanner I’m building. This is no mere face lift.
I’m making a lot of tweaks to how we visualize options flow. For example, we can now get date ranges over the last one-day to seven-day range in total. I’m even able to fine tune the criteria for how stocks get tapped for the list.
But the real upgrade is something I rebuilt over one weekend – the Advanced Notice Scoring System.
This latest iteration of the model is generated by a machine learning model trained on 80,000 historical options flow events spread across a trailing 111 trading day window. That covers roughly 1,500 stocks.
This model looks for patterns in options activity that predict significant stock moves and options finishing in the money.
Instead of staring at a wall of options data trying to interpret it yourself, you’ll be able to see where the smart money is really concentrating its bets.
Now, I’m not ready to release everything just yet. I want to make sure the system meets the same standard as the other tools I’ve built for our community.
There are still a few refinements underway. So keep in mind that the specifications you’re seeing today are part of a working prototype and may evolve before the final release.
Consider this your first look at what we’re building.
Once this is finished, it’s going to change how we identify and trade unusual options activity.
If you’re interested in finding out more about the Scanner – and the tickers and setups it reveals once I take it live…
The Masters in Trading Options Challenge is where you need to be.
The Challenge is where we take everything you’ve learned in my daily LIVEs — fixed risk, thesis-driven exits, laddered entries, defined-duration trades, and emotional discipline — and put it into practice in a structured, step-by-step environment.
Just click here to check out what the Masters in Trading Options Challenge has in store for you.
Shares of CVR Energy Inc. (NYSE: CVI - Get Free Report) have received an average rating of "Strong Sell" from the six brokerages that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a sell rating and one has issued a hold rating on the company. The average 1 year
CVR (CVI) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.
The cycle in oil refining crack spreads bottomed in Q4 2025 and has been moving up ever since. Valuation of CVR Energy is well below peers due to previous management errors, which have now been corrected. Wars in Ukraine and Iran have damaged or destroyed multiple oil refineries, which will take years to repair or replace.
CVR Energy Inc. (NYSE:CVI – Get Free Report) has earned an average rating of “Strong Sell” from the six research firms that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $30.00.
CVI has been the topic of a number of recent research reports. Scotiabank upgraded CVR Energy to a “strong sell” rating in a research note on Friday, March 27th. Mizuho raised their price objective on CVR Energy from $28.00 to $32.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 17th. Raymond James Financial upgraded CVR Energy from an “underperform” rating to a “market perform” rating in a research note on Wednesday, March 25th. Wall Street Zen lowered CVR Energy from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Weiss Ratings downgraded CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, February 20th.
View Our Latest Analysis on CVI
CVR Energy Price Performance CVR Energy stock opened at $32.48 on Tuesday. The stock’s fifty day moving average price is $26.74 and its two-hundred day moving average price is $30.22. CVR Energy has a one year low of $15.10 and a one year high of $41.67. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.79 and a quick ratio of 1.13. The firm has a market cap of $3.26 billion, a PE ratio of 124.91 and a beta of 0.94.
CVR Energy (NYSE:CVI – Get Free Report) last posted its quarterly earnings data on Wednesday, February 18th. The oil and gas company reported ($0.80) EPS for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.04. CVR Energy had a negative return on equity of 14.31% and a net margin of 0.38%.The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the company earned ($0.13) EPS. The company’s revenue was down 7.0% on a year-over-year basis. As a group, research analysts expect that CVR Energy will post -0.12 EPS for the current fiscal year.
CVR Energy Dividend Announcement The firm also recently announced a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, March 2nd were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Monday, March 2nd.
Insider Buying and Selling at CVR Energy In other CVR Energy news, major shareholder Carl C. Icahn bought 275,012 shares of CVR Energy stock in a transaction on Tuesday, February 24th. The shares were purchased at an average price of $21.41 per share, with a total value of $5,888,006.92. Following the acquisition, the insider owned 71,201,875 shares in the company, valued at $1,524,432,143.75. This trade represents a 0.39% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders acquired 783,404 shares of company stock valued at $16,445,044. Company insiders own 0.01% of the company’s stock.
Institutional Investors Weigh In On CVR Energy A number of large investors have recently modified their holdings of CVI. Royal Bank of Canada boosted its holdings in shares of CVR Energy by 67.2% in the 1st quarter. Royal Bank of Canada now owns 14,904 shares of the oil and gas company’s stock valued at $289,000 after purchasing an additional 5,992 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of CVR Energy in the 1st quarter valued at $611,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of CVR Energy by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,301 shares of the oil and gas company’s stock valued at $394,000 after purchasing an additional 858 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of CVR Energy by 14.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 496,650 shares of the oil and gas company’s stock valued at $9,635,000 after purchasing an additional 63,909 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of CVR Energy by 34.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 273,777 shares of the oil and gas company’s stock valued at $7,351,000 after purchasing an additional 69,726 shares in the last quarter. Institutional investors and hedge funds own 98.88% of the company’s stock.
About CVR Energy (Get Free Report)
CVR Energy, Inc is an independent downstream energy company engaged primarily in petroleum refining and nitrogen fertilizer production in the United States. Headquartered in Sugar Land, Texas, CVR Energy operates through two reportable segments—Petroleum Products and Nitrogen Fertilizers—leveraging its refining expertise and distribution network to serve both wholesale and retail markets across key regions in the U.S.
In its Petroleum Products segment, the company owns and operates the Coffeyville, Kansas refinery, which has the capability to process various grades of crude oil into gasoline, diesel, jet fuel and other refined products.
Further Reading Five stocks we like better than CVR Energy
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The Undercovered Dozen series spotlights 12 lesser-covered stocks from the past week on Seeking Alpha. This week's edition covers articles published between March 27 and April 2, offering fresh investment ideas. The focus is on stocks that may offer unique opportunities due to limited analyst coverage.
Pre-Market Stock Futures: The futures are trading mixed as we approach the end of one of the most volatile and wild trading weeks in recent memory. After starting the day lower on Thursday as mixed reports on the success of the ships passing through the Strait of Hormuz rolled in, stocks gained momentum as the day progressed, and by the close, all of the major indices finished the day higher. That may change as we finish the week, but Thursday was a positive day for stocks, with the Nasdaq leading the way higher, closing at 22,822, up 0.83%, while the S&P 500 was last seen at 6,824, up 0.62%. The small-cap Russell 2000 closed at 2,636, up 0.60%, and the Dow Jones Industrials were last seen on Thursday at 48,185, up 0.58%.
Treasury Bonds: Yields were mixed across the Treasury curve as confusion over the Iran war and the passage of oil tankers continues to cloud the investment waters. The sellers returned for the shorter maturities, but for the third straight session, buyers were grabbing the belly of the curve and the longer-dated maturities. The 30-year bond closed at 4.89%, while the 10-year note was last at 4.28%.
Oil and Gas: After a massive sell-off on Wednesday, oil prices traded higher on Thursday. Still, volatility and volume cooled somewhat as Wall Street analysts weighed the current state of the war and the outlook for oil supply. Brent crude closed the day at $95.92, up 1.23%, while West Texas Intermediate was last seen at $98.40, up 0.54%. Natural gas closed unchanged at $2.67.
Gold: The precious metals arena was mostly quiet after a wild week that saw some big moves in the major metals. Gold closed trading at $4,756, down 0.20%, while Silver closed slightly higher, up 0.20%, at $75.64.
Crypto: Crypto markets experienced a mixed, volatile day on Thursday, struggling to maintain early-week gains as initial enthusiasm over a potential Middle East ceasefire began to fade. While Bitcoin held key support levels above $70,000 and traded in a tight range, several crypto-linked equities saw significant declines. At 8 AM EDT, Bitcoin was trading at $71,990, while Ethereum was trading at $2,202.
24/7 Wall St. reviews dozens of analyst research reports daily to identify new investment ideas for both investors and traders. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock.
Here are some of the top Wall Street analyst upgrades, downgrades, and initiations seen on Friday, April 10, 2026.
Upgrades: Delek US Holdings Inc. (NYSE: DK) was assumed with a Buy rating at Goldman Sachs, with a $55 target price for the shares. Madison Square Garden Sports Corp. (NYSE: MSGS) | MSGS Price Prediction was upgraded to Buy from Neutral at Seaport Research with a $430 target price. Nextstar Media Group Inc. (NASDAQ: NXST) was raised to Buy from Neutral at Citigroup, which trimmed the price target for the broadcasting giant to $220 from $252. Shake Shack Inc. (NYSE: SHAK) was upgraded to Outperform from Neutral at Mizuho, which raised the target price for the fast-food favorite to $120 from $100. Southern Copper Corp. (NYSE: SCCO) was upgraded to Neutral from Sell at Goldman Sachs, which lifted the target price to $178 from $142.79. Downgrades: Autodesk Inc. (NASDAQ: ADSK) was downgraded to Neutral from Buy at CitiGroup, which slashed the target price for the shares to $246 from $331. Nike Inc (NYSE: NKE) was downgraded to Neutral from Overweight at Piper Sandler, which cut the price target for the athletic shoe and apparel giant to $50 from $60. Nutanix Inc. (NASDAQ: NTNX) was cut to Neutral from Overweight at JPMorgan, which lowered the target price for the stock to $44 from $55. ServiceNow Inc. (NYSE: NOW) was downgraded to Neutral from Buy at UBS, which cut the target price to $100 from $170. Veeva Systems Inc. (NYSE: VEEV) was cut to Neutral from Buy at Citigroup, which shredded the target price to $176 from $291. Initiations: Ameriprise Financial Inc. (NYSE: AMP) was initiated with a Market Perform rating at Keefe Bruyette, which has a $515 target price objective for the shares.
CVR Energy Inc. (NYSE: CVI) was assumed with a Sell rating at Goldman Sachs, with a $30 target price. Insmed Inc. (NASDAQ: INSM) was initiated with an Outperform rating at Raymond James, with a $200 target price objective. MACOM Technology Solutions Holdings Inc. (NASDAQ: MTSI) was started with a Buy rating at Loop Capital, which has set a $300 target price. United Therapeutics Corp. (NASDAQ: UTHR) was initiated with an Outperform rating at Raymond James, which has set a $700 target price for the stock.
On April 15, 2026, CVR Energy Inc CVI shares rose 5.0% today, closing at $31.64. The stock has experienced a 52-week range of $17.56 to $41.67, highlighting significant volatility over the past year.
GF Value™ verdict: Currently priced at $31.64, which is 40.6% above the GF Value™ of $22.51, indicating the stock is overvalued.GF Score™: 75/100, suggesting the stock ranks above average in terms of potential long-term returns.Most notable signal: Insiders have purchased $16.4 million in stock over the last three months, indicating confidence in the company's future. Is CVI Overvalued or Undervalued? CVR Energy Inc CVI is currently trading at $31.64, which is significantly higher than its GF Value™ estimate of $22.51. This represents a 40.6% premium over the intrinsic value calculated by GuruFocus. The GF Valuation label indicates that CVI is significantly overvalued at present levels, suggesting that current investors may face increased risk if market corrections occur. While the GF Value™ is grounded in historical trading multiples, past business growth, and future performance estimates, the current valuation raises concerns about the sustainability of the stock price in the context of its intrinsic value.
Given the substantial gap between the market price and the GF Value™, investors must consider the potential for a price correction. The current valuation does not provide a margin of safety, which is crucial for minimizing risk in equity investments. Therefore, the risk of overvaluation could outweigh the potential for short-term gains, especially if market sentiment shifts.
How Does CVI's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 121.7x 9.5x Forward P/E 22.6x N/A The current P/E (TTM) of 121.7x is dramatically above its 5-year median P/E of 9.5x, indicating that CVI is trading at a premium compared to its historical valuation metrics. This analysis aligns with the GF Value™ verdict, reinforcing the conclusion that CVI is overvalued at its current price level.
What Does CVI's GF Score™ Tell Us? Metric Rating GF Score™ 75 Financial Strength 5/10 Profitability 7/10 Growth 3/10 Valuation 5/10 Momentum 10/10 The GF Score™ of 75/100 indicates that CVI is positioned above average in terms of potential long-term returns. The strongest aspect of the score is the Momentum Rank, which stands at 10/10, suggesting positive short-term performance. However, the weakest area is Growth, rated at 3/10, indicating challenges in sustaining growth levels. This mixed score reflects a company that may have solid short-term performance but lacks strong fundamentals in growth and financial strength.
What Are Insiders Doing with CVI Stock? In the past three months, insiders have shown strong confidence in CVI by purchasing $16.4 million worth of shares with no selling activity. This pattern suggests that the individuals with the most intimate knowledge of the company's operations believe in its future potential. Insider buying can be a positive signal, indicating that those closest to the company expect its value to increase.
Such insider activity can often serve as a supporting indicator, albeit it does not eliminate the risks associated with the stock's current overvaluation.
What This Means for Investors Based on the analysis of the GF Value™, CVR Energy Inc CVI is currently overvalued. With a significant premium over its intrinsic value and concerning P/E ratios, caution is advised for potential investors considering this stock.
For the complete analysis, visit the CVR Energy Inc CVI 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 CVI's GF Score™?
CVI has a GF Score™ of 75/100, indicating that it ranks above average in terms of potential long-term returns based on GuruFocus' proprietary metrics.
Is CVI overvalued or undervalued?
CVI is currently overvalued, trading at 40.6% above its GF Value™ of $22.51.
What is CVI's P/E ratio?
The P/E (TTM) ratio for CVI is 121.7x, which is significantly higher than its 5-year median P/E of 9.5x, 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].
SUGAR LAND, Texas--(BUSINESS WIRE)--CVR Energy, Inc. (NYSE: CVI) plans to release its first quarter 2026 earnings results on Wednesday, April 29, after the close of trading on the New York Stock Exchange. The Company also will host a teleconference call on Thursday, April 30, at 1 p.m. Eastern to discuss these results.
This call, which will contain forward-looking information, will be webcast live and can be accessed on the Investor Relations section of CVR Energy’s website at www.CVREnergy.com. For investors or analysts who want to participate during the call, the dial-in number is (800) 715-9871, conference ID 3388257. A repeat of the call can be accessed for seven days by dialing (800) 770-2030, conference ID 3388257. The webcast will be archived and available on the Investor Relations section of CVR Energy’s website at www.CVREnergy.com.
CVR Energy’s first quarter 2026 earnings news release will be distributed via Business Wire and posted at www.CVREnergy.com.
About CVR Energy, Inc.
Headquartered in Sugar Land, Texas, CVR Energy is a diversified holding company primarily engaged in the petroleum refining and marketing businesses as well as in the nitrogen fertilizer manufacturing business through its interest in CVR Partners, LP. CVR Energy subsidiaries serve as the general partner and own approximately 37 percent of the common units of CVR Partners, LP.
The market expects CVR Energy (CVI - Free Report) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended March 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.
The earnings report, which is expected to be released on 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 management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis diversified holding company is expected to post quarterly loss of $0.44 per share in its upcoming report, which represents a year-over-year change of +24.1%.
Revenues are expected to be $1.68 billion, up 1.8% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 221.67% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for CVR?For CVR, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.
On the other hand, the stock currently carries a Zacks Rank of #2.
So, this combination makes it difficult to conclusively predict that CVR will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that CVR would post a loss of$0.84 per share when it actually produced a loss of -$0.80, delivering a surprise of +4.76%.
Over the last four quarters, the company has beaten consensus EPS estimates three times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
CVR doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Expected Results of an Industry PlayerAmong the stocks in the Zacks Oil and Gas - Refining and Marketing industry, Delek US Holdings (DK - Free Report) , is soon expected to post loss of $1.24 per share for the quarter ended March 2026. This estimate indicates a year-over-year change of +46.6%. This quarter's revenue is expected to be $2.09 billion, down 20.9% from the year-ago quarter.
Over the last 30 days, the consensus EPS estimate for Delek US Holdings has been revised 136.8% up to the current level. Nevertheless, the company now has an Earnings ESP of -6.97%, reflecting a lower Most Accurate Estimate.
When combined with a Zacks Rank of #3 (Hold), this Earnings ESP makes it difficult to conclusively predict that Delek US Holdings will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
SUGAR LAND, Texas--(BUSINESS WIRE)--CVR Energy, Inc. (“CVR Energy” or the “Company”) (NYSE: CVI) today announced its first quarter 2026 results including a net loss attributable to CVR Energy stockholders of $192 million, or $1.91 per diluted share, and an adjusted loss per diluted share of $1.24, compared to net loss attributable to CVR Energy stockholders of $123 million, or $1.22 per diluted share, and an adjusted loss per diluted share of 58 cents for the first quarter of 2025. Net loss for the first quarter of 2026 was $160 million compared to net loss of $105 million for the first quarter of 2025. First quarter 2026 losses do not include locked in value from the sale of NYMEX crack spread swaps during the quarter totaling $447 million expected to be realized through 2027. Adjusted EBITDA for the first quarter of 2026 was $37 million, compared to adjusted EBITDA of $24 million for the first quarter of 2025.
“CVR Energy’s first quarter operations were solid, with crude utilization of 97 percent and ammonia plant utilization of 103 percent,” said Mark Pytosh, CVR Energy’s Chief Executive Officer. “The major geopolitical events of the past few months have created significant volatility in energy and fertilizer markets. However, as a result of our expected locked in value of $447 million from the sale of NYMEX crack spread swaps we expect to realize through 2027, among other matters, we believe our assets are well-positioned to increase in value. We are therefore pleased to announce a first quarter cash dividend of 10 cents per share and while there can be no guarantees, we are hopeful to be able to raise the dividend in the future.
“CVR Partners posted strong operating results for the first quarter of 2026, and demand was robust for the spring planting season,” Pytosh said. “In addition to the solid operating results, CVR Partners was pleased to declare a first quarter distribution of $4.00 per common unit.”
Segment Highlights
Due to the reversion of the renewable diesel unit at the Wynnewood refinery back to hydrocarbon processing and based on the Company’s revised reporting assessment performed during the first quarter of 2026, the renewables business no longer meets the requirements to be disclosed as a separate reportable segment. Effective beginning with the first quarter of 2026, all prior period Renewables activity is consolidated within “Other” and disclosures have been retrospectively adjusted to reflect the current segment presentation.
Below are financial and operational highlights of each of the Company’s reportable segments:
Three Months Ended
March 31,
2026
2025
Petroleum Segment
Petroleum Segment net loss (in millions)
$
(193
)
$
(160
)
Petroleum Segment EBITDA* (in millions)
(139
)
(119
)
Petroleum Segment Adjusted EBITDA* (in millions)
(50
)
(30
)
Total throughput barrels per day
214,268
120,377
Refining margin* ($ per throughput barrel)
$
0.12
$
(0.42
)
Adjusted refining margin* ($ per throughput barrel)
4.72
7.72
Direct operating expenses* ($ per throughput barrel)
6.10
8.58
Nitrogen Fertilizer Segment
Nitrogen Fertilizer Segment net income (in millions)
$
50
$
27
Nitrogen Fertilizer Segment EBITDA and Adjusted EBITDA* (in millions)
78
53
Ammonia utilization rate (percent of capacity utilization)
103
%
101
%
Ammonia sales volumes (thousands of tons)
73
60
UAN sales volumes (thousands of tons)
310
336
Ammonia pricing at gate ($ per ton)
$
687
$
554
UAN pricing at gate ($ per ton)
343
256
Corporate and Other
The Company reported an income tax benefit of $29 million, or 15.2 percent of loss before income taxes, for the three months ended March 31, 2026, compared to an income tax benefit of $49 million, or 31.8 percent of loss before income taxes, for the three months ended March 31, 2025. The change in income tax benefit was primarily due to an increase in overall pretax earnings. In addition, the change in the effective tax rate from the three months ended March 31, 2025 to the three months ended March 31, 2026 was primarily caused by changes in pretax earnings attributable to noncontrolling interests and the impact of state tax credits relative to overall pretax earnings.
Cash, Debt and Dividend
Consolidated cash and cash equivalents were $512 million at March 31, 2026. Consolidated total debt and finance lease obligations were $1.8 billion at March 31, 2026, including $570 million held by the Nitrogen Fertilizer Segment.
On February 12, 2026, CVR Energy completed the issuance of $600 million in aggregate principal amount of 7.500% Senior Notes due 2031 (the “2031 Notes”) and $400 million in aggregate principal amount of 7.875% Senior Notes due 2034 (the “2034 Notes”, and together with the 2031 Notes, the “Notes”). Interest on the Notes is payable semi-annually in arrears on February 15 and August 15 of each year, commencing on August 15, 2026. The 2031 Notes will mature on February 15, 2031, unless earlier redeemed or purchased. The 2034 Notes will mature on February 15, 2034, unless earlier redeemed or purchased.
In February 2026, CVR Energy used the net proceeds from the Notes to redeem all of its outstanding 8.500% Senior Notes, due 2029 (the “2029 Notes”), $217 million aggregate principal amount of the outstanding 5.750% Senior Secured Notes, due 2028, and repay all of the aggregate principal balance of the senior secured term loan facility, plus accrued and unpaid interest. As a result of these transactions, the Company recognized a $32 million loss on extinguishment of debt in the first quarter of 2026, which consists of the call premium on the 2029 Notes and the write-off of unamortized deferred financing costs.
CVR Energy announced a first quarter 2026 cash dividend of 10 cents per share. The dividend, as declared by CVR Energy’s Board of Directors, will be paid on May 18, 2026, to stockholders of record as of May 11, 2026.
CVR Partners announced that the Board of Directors of its general partner declared a first quarter 2026 cash distribution of $4.00 per common unit, which will be paid on May 18, 2026, to common unitholders of record as of May 11, 2026.
First Quarter 2026 Earnings Conference Call
CVR Energy previously announced that it will host its first quarter 2026 Earnings Conference Call on Thursday, April 30, at 1 p.m. Eastern. The Earnings Conference Call may also include discussion of Company developments, forward-looking information and other material information about business and financial matters.
The first quarter 2026 Earnings Conference Call will be webcast live and can be accessed on the Investor Relations section of CVR Energy’s website at www.CVREnergy.com. For investors or analysts who want to participate during the call, the dial-in number is (800) 715-9871, conference ID 3388257. A repeat of the call can be accessed for seven days by dialing (800) 770-2030, conference ID 3388257. The webcast will be archived and available on the Investor Relations section of CVR Energy’s website at www.CVREnergy.com.
Forward-Looking Statements
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements concerning current estimates, expectations and projections about future results, performance, prospects, opportunities, plans, actions and events and other statements, concerns, or matters that are not historical facts are “forward-looking statements,” as that term is defined under the federal securities laws. These forward-looking statements include, but are not limited to, statements regarding future: continued safe and reliable operations; drivers of our results; impacts of planned and unplanned downtime and turnarounds on our results; asset utilization, capture, production volume, throughput, product yield and crude oil gathering rates, including the factors impacting same; crack spreads and the impacts thereof on our results; prospects for the refining industry; impact of costs to comply with the Renewable Fuel Standard (“RFS”) and revaluation of our RFS liability; ability to secure RFS waivers; reportable segments; supply and demand trends; refining supply additions; RIN and product pricing; global fertilizer industry conditions; production levels and utilization at our nitrogen fertilizer facilities; nitrogen fertilizer sales volumes; dividends and distributions, including the timing, payment and amount (if any) thereof and any potential increase to future dividends; direct operating expenses, capital expenditures, depreciation and amortization, including the impacts thereof on our results; the realization of value from the sale of NYMEX crack spread swaps through 2026 or 2027 or at all; increase in value of our assets; timing of determinations and other interactions with, and submissions to, regulatory authorities and agencies; and other matters. You can generally identify forward-looking statements by our use of forward-looking terminology such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “explore,” “evaluate,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “seek,” “should,” or “will,” or the negative thereof or other variations thereon or comparable terminology. These forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond our control. Investors are cautioned that various factors may affect these forward-looking statements, including (among others) demand for fossil fuels and price volatility of crude oil, other feedstocks and refined products; the ability of Company to pay or increase cash dividends and of CVR Partners to make cash distributions; potential operating hazards; costs of compliance with existing or new laws and regulations and potential liabilities arising therefrom; the risk that we will not old our NYMEX crack spread swaps through expiration and settlement or will otherwise fail to realize the benefits related to such arrangements; impacts of the planting season on CVR Partners; our controlling shareholder’s intention regarding ownership of our common stock or CVR Partners’ common units; general economic and business conditions; political disturbances, geopolitical instability and tensions; existing and future laws, rulings, policies and regulations, including the reinterpretation or amplification thereof by regulators, and including but not limited to those relating to the environment, climate change, and/or the production, transportation, or storage of hazardous chemicals, materials, or substances, like ammonia; political uncertainty and impacts to the oil and gas industry and the United States economy generally as a result of actions taken by the administration, including the imposition of tariffs or changes in climate or other energy laws, rules, regulations, or policies; impacts of plant outages; potential operating hazards from accidents, fires, severe weather, tornadoes, floods, wildfires, or other natural disasters; the health and economic effects of any pandemic, and other risks. For additional discussion of risk factors which may affect our results, please see the risk factors and other disclosures included in our most recent Annual Report on Form 10-K, any subsequently filed Quarterly Reports on Form 10-Q and our other Securities and Exchange Commission (“SEC”) filings. These and other risks may cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included in this news release are made only as of the date hereof. CVR Energy disclaims any intention or obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by law.
About CVR Energy, Inc.
Headquartered in Sugar Land, Texas, CVR Energy is a diversified holding company primarily engaged in the renewable fuels and petroleum refining and marketing business, as well as in the nitrogen fertilizer manufacturing business through its interest in CVR Partners. CVR Energy subsidiaries serve as the general partner and own approximately 37 percent of the common units of CVR Partners.
Investors and others should note that CVR Energy may announce material information using SEC filings, press releases, public conference calls, webcasts and the Investor Relations page of its website. CVR Energy may use these channels to distribute material information about the Company and to communicate important information about the Company, corporate initiatives and other matters. Information that CVR Energy posts on its website could be deemed material; therefore, CVR Energy encourages investors, the media, its customers, business partners and others interested in the Company to review the information posted on its website.
Non-GAAP Measures
Our management uses certain non-GAAP measures, and reconciliations to those measures, to evaluate current and past performance and prospects for the future to supplement our financial information presented in accordance with accounting principles generally accepted in the United States (“GAAP”). These non-GAAP measures are important factors in assessing our operating results and profitability and include the measures defined below.
The following are non-GAAP measures we present for the periods ended March 31, 2026 and 2025:
EBITDA - Consolidated net income (loss) before (i) interest expense, net, (ii) income tax expense (benefit) and (iii) depreciation and amortization expense.
Petroleum EBITDA and Nitrogen Fertilizer EBITDA - Segment net income (loss) before segment (i) interest expense, net, (ii) income tax expense (benefit), and (iii) depreciation and amortization.
Refining Margin - The difference between our Petroleum Segment net sales and cost of materials and other.
Adjusted Refining Margin - Refining Margin adjusted for certain significant noncash items and items that management believes are not attributable to or indicative of our underlying operational results of the period or that may obscure results and trends we deem useful.
Refining Margin and Adjusted Refining Margin, per Throughput Barrel - Refining Margin and Adjusted Refining Margin divided by the total throughput barrels during the period, which is calculated as total throughput barrels per day times the number of days in the period.
Direct Operating Expenses per Throughput Barrel - Direct operating expenses for our Petroleum Segment divided by total throughput barrels for the period, which is calculated as total throughput barrels per day times the number of days in the period.
Adjusted EBITDA, Petroleum Adjusted EBITDA, and Nitrogen Fertilizer Adjusted EBITDA - EBITDA, Petroleum EBITDA, and Nitrogen Fertilizer EBITDA adjusted for certain significant non-cash items and items that management believes are not attributable to or indicative of our underlying operational results of the period or that may obscure results and trends we deem useful.
Adjusted Earnings (Loss) per Share - Earnings (loss) per share adjusted for certain significant non-cash items and items that management believes are not attributable to or indicative of our on-going operations or that may obscure our underlying results and trends.
Free Cash Flow - Net cash provided by (used in) operating activities less capital expenditures and capitalized turnaround expenditures.
We present these measures because we believe they may help investors, analysts, lenders and ratings agencies analyze our results of operations and liquidity in conjunction with our U.S. GAAP results, including but not limited to our operating performance as compared to other publicly traded companies in the refining and fertilizer industries, without regard to historical cost basis or financing methods and our ability to incur and service debt and fund capital expenditures. Non-GAAP measures have important limitations as analytical tools, because they exclude some, but not all, items that affect net earnings and operating income. These measures should not be considered substitutes for their most directly comparable GAAP financial measures. See “Non-GAAP Reconciliations” included herein for reconciliation of these amounts. Due to rounding, numbers presented within this section may not add or equal to numbers or totals presented elsewhere within this document.
Factors Affecting Comparability of Our Financial Results
Our results of operations for the periods presented may not be comparable with prior periods or to our results of operations in the future for the reasons discussed below.
Petroleum Segment
Major Scheduled Turnaround Activities - Total capitalized turnaround expenditures as part of planned turnarounds were less than $1 million and $166 million during the three months ended March 31, 2026 and 2025, respectively.
CVR Energy, Inc.
(all information in this release is unaudited)
Consolidated Statement of Operations Data
Three Months Ended
March 31,
(in millions, except per share data)
2026
2025
Net sales
$
1,980
$
1,646
Operating costs and expenses:
Cost of materials and other
1,825
1,517
Direct operating expenses (exclusive of depreciation and amortization)
181
154
Depreciation and amortization
77
66
Cost of sales
2,083
1,737
Selling, general and administrative expenses (exclusive of depreciation and amortization)
39
37
Depreciation and amortization
2
2
Other operating expenses, net
1
1
Operating loss
(145
)
(131
)
Other (expense) income:
Interest expense, net
(58
)
(25
)
Other income, net
14
2
Loss before income taxes
(189
)
(154
)
Income tax benefit
(29
)
(49
)
Net loss
(160
)
(105
)
Less: Net income attributable to noncontrolling interest
32
18
Net loss attributable to CVR Energy stockholders
$
(192
)
$
(123
)
Basic and diluted loss per share
$
(1.91
)
$
(1.22
)
Adjusted loss per share *
$
(1.24
)
$
(0.58
)
EBITDA *
(52
)
(61
)
Adjusted EBITDA *
37
24
Weighted-average common shares outstanding - basic and diluted
100.5
100.5
Selected Consolidated Balance Sheet Data
(in millions)
March 31, 2026
December 31, 2025
Cash and cash equivalents
$
512
$
511
Working capital (inclusive of cash and cash equivalents)
445
561
Total assets
3,861
3,706
Total debt and finance lease obligations, including current portion
1,784
1,765
Total liabilities
3,126
2,808
Total CVR stockholders’ equity
538
730
Selected Consolidated Cash Flow Data
Three Months Ended
March 31,
(in millions)
2026
2025
Net cash provided by (used in):
Operating activities
$
64
$
(195
)
Investing activities
(43
)
(82
)
Financing activities
(20
)
(15
)
Net increase (decrease) in cash, cash equivalents, and restricted cash
$
1
$
(292
)
Free cash flow *
$
21
$
(285
)
Selected Segment Data
Three Months Ended March 31,
2026
2025
(in millions)
Petroleum
Nitrogen
Fertilizer
Consolidated
Petroleum
Nitrogen
Fertilizer
Consolidated
Net sales
$
1,803
$
180
$
1,980
$
1,477
$
143
$
1,646
Operating (loss) income
(193
)
58
(145
)
(161
)
35
(131
)
Net (loss) income
(193
)
50
(160
)
(160
)
27
(105
)
EBITDA *
(139
)
78
(52
)
(119
)
53
(61
)
Capital expenditures (1)
Maintenance
$
19
$
8
$
28
$
41
$
4
$
45
Growth
10
6
16
8
2
10
Total capital expenditures
$
29
$
14
$
44
$
49
$
6
$
55
March 31, 2026
December 31, 2025
(in millions)
Petroleum
Nitrogen
Fertilizer
Consolidated
Petroleum
Nitrogen
Fertilizer
Consolidated
Cash and cash equivalents (1)
$
265
$
128
$
512
$
253
$
69
$
511
Total assets
3,111
1,018
3,861
2,987
969
3,706
Total debt and finance lease obligations, including current portion (2)
40
570
1,784
195
570
1,765
Petroleum Segment
Refining Throughput and Production Data by Refinery
Throughput Data
Three Months Ended
March 31,
(in bpd)
2026
2025
Coffeyville
Gathered crude
50,723
26,728
Other domestic
62,045
12,348
Canadian
17,384
640
Other feedstocks and blendstocks
11,243
6,330
Wynnewood
Gathered crude
58,154
68,572
Other domestic
11,556
573
Other feedstocks and blendstocks
3,163
5,186
Total throughput
214,268
120,377
Production Data
Three Months Ended
March 31,
(in bpd)
2026
2025
Coffeyville
Gasoline
74,789
18,940
Distillate
57,138
20,233
Other liquid products
4,439
6,324
Solids
5,981
1,321
Wynnewood
Gasoline
36,699
39,740
Distillate
30,343
24,948
Other liquid products
2,413
5,058
Solids
10
11
Total production
211,812
116,575
Crude utilization (1)
96.8
%
52.7
%
Distillate yield (as % of crude throughput) (2)
43.8
%
41.5
%
Light product yield (as % of crude throughput) (3)
99.6
%
95.4
%
Liquid volume yield (as % of total throughput) (4)
96.1
%
95.7
%
Key Market Indicators
Three Months Ended
March 31,
(dollars per barrel)
2026
2025
West Texas Intermediate (WTI) NYMEX
$
72.67
$
71.42
Crude Oil Differentials to WTI:
Brent
5.70
3.56
WCS (heavy sour)
(13.91
)
(12.45
)
Midland Cushing
1.09
1.10
NYMEX Crack Spreads:
Gasoline
22.52
16.83
Heating Oil
51.16
28.46
NYMEX 2-1-1 Crack Spread
36.84
22.64
PADD II Group 3 Product Basis:
Gasoline
(13.66
)
(2.81
)
Ultra-Low Sulfur Diesel
(16.86
)
(7.19
)
PADD II Group 3 Product Crack Spread:
Gasoline
8.86
14.02
Ultra-Low Sulfur Diesel
34.30
21.27
PADD II Group 3 2-1-1
21.58
17.65
Nitrogen Fertilizer Segment
Production Data
Three Months Ended
March 31,
2026
2025
Consolidated production volume (thousands of tons):
Ammonia (gross produced) (1)
220
216
Ammonia (net available for sale) (1)
70
64
UAN
335
348
Feedstock:
Petroleum coke used in production (thousands of tons)
138
131
Petroleum coke used in production (dollars per ton)
$
33.94
$
42.43
Natural gas used in production (thousands of MMBtus) (2)
2,115
2,159
Natural gas used in production (dollars per MMBtu) (2)
$
5.40
$
4.62
Key Market Indicators
Three Months Ended
March 31,
2026
2025
Ammonia — Southern plains (dollars per ton)
$
729
$
562
Ammonia — Corn belt (dollars per ton)
771
618
UAN — Corn belt (dollars per ton)
410
324
Natural gas NYMEX (dollars per MMBtu)
$
4.74
$
3.87
Q2 2026 Outlook
The table below summarizes our outlook for certain operational statistics and financial information for the second quarter of 2026. See “Forward-Looking Statements” above.
Q2 2026
Low
High
Petroleum Segment
Total throughput (bpd)
200,000
215,000
Crude utilization (1)
92
%
99
%
Direct operating expenses (in millions) (2)
$
110
$
120
Nitrogen Fertilizer Segment
Ammonia utilization rate
95
%
100
%
Direct operating expenses (in millions) (2)
$
57
$
62
Capital Expenditures (in millions) (3)
Petroleum Segment
$
35
$
40
Nitrogen Fertilizer Segment
28
32
Other
2
5
Total capital expenditures
$
65
$
77
Non-GAAP Reconciliations
Reconciliation of Net Loss to EBITDA and Adjusted EBITDA
Three Months Ended
March 31,
(in millions)
2026
2025
Net loss
$
(160
)
$
(105
)
Interest expense, net
58
25
Income tax benefit
(29
)
(49
)
Depreciation and amortization
79
68
EBITDA
(52
)
(61
)
Adjustments:
Changes in RFS obligation, unfavorable
51
112
Unrealized loss (gain) on derivatives, net
158
(3
)
Inventory valuation impacts, favorable
(120
)
(24
)
Adjusted EBITDA
$
37
$
24
Reconciliation of Basic and Diluted Loss per Share to Adjusted Loss per Share
Three Months Ended
March 31,
2026
2025
Basic and diluted loss per share
$
(1.91
)
$
(1.22
)
Adjustments: (1)
Changes in RFS obligation, unfavorable
0.38
0.84
Unrealized loss (gain) on derivatives, net
1.19
(0.03
)
Inventory valuation impacts, favorable
(0.90
)
(0.17
)
Adjusted loss per share
$
(1.24
)
$
(0.58
)
Reconciliation of Net Cash Provided By (Used In) Operating Activities to Free Cash Flow
Three Months Ended
March 31,
(in millions)
2026
2025
Net cash provided by (used in) operating activities
$
64
$
(195
)
Less:
Capital expenditures
(47
)
(51
)
Capitalized turnaround expenditures
—
(43
)
Return of equity method investment
4
4
Free cash flow
$
21
$
(285
)
Reconciliation of Petroleum Segment Net Loss to EBITDA and Adjusted EBITDA
Three Months Ended
March 31,
(in millions)
2026
2025
Petroleum net loss
$
(193
)
$
(160
)
Interest expense, net
2
—
Depreciation and amortization
52
41
Petroleum EBITDA
(139
)
(119
)
Adjustments:
Changes in RFS obligation, unfavorable
51
112
Unrealized loss (gain) on derivatives, net
158
(3
)
Inventory valuation impacts, favorable (1)
(120
)
(20
)
Petroleum Adjusted EBITDA
$
(50
)
$
(30
)
Reconciliation of Petroleum Segment Gross Loss to Refining Margin and Adjusted Refining Margin
Three Months Ended
March 31,
(in millions)
2026
2025
Net sales
$
1,803
$
1,477
Less:
Cost of materials and other
(1,801
)
(1,482
)
Direct operating expenses (exclusive of depreciation and amortization)
(118
)
(93
)
Depreciation and amortization
(52
)
(41
)
Gross loss
(168
)
(139
)
Add:
Direct operating expenses (exclusive of depreciation and amortization)
118
93
Depreciation and amortization
52
41
Refining margin
2
(5
)
Adjustments:
Changes in RFS obligation, unfavorable
51
112
Unrealized loss (gain) on derivatives, net
158
(3
)
Inventory valuation impacts, favorable (2)
(120
)
(20
)
Adjusted refining margin
$
91
$
84
Total throughput barrels per day
214,268
120,377
Days in the period
90
90
Total throughput barrels
19,284,129
10,833,969
Refining margin per total throughput barrel
$
0.12
$
(0.42
)
Adjusted refining margin per total throughput barrel
4.72
7.72
Direct operating expenses per total throughput barrel
6.10
8.58
Reconciliation of Nitrogen Fertilizer Segment Net Income to EBITDA and Adjusted EBITDA
CVR Energy (CVI - Free Report) came out with a quarterly loss of $1.24 per share versus the Zacks Consensus Estimate of a loss of $0.54. This compares to a loss of $0.58 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -131.78%. A quarter ago, it was expected that this diversified holding company would post a loss of $0.84 per share when it actually produced a loss of $0.8, delivering a surprise of +4.76%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
CVR, which belongs to the Zacks Oil and Gas - Refining and Marketing industry, posted revenues of $1.98 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 17.99%. This compares to year-ago revenues of $1.65 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
CVR shares have added about 28.3% since the beginning of the year versus the S&P 500's gain of 4.3%.
What's Next for CVR?While CVR 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 CVR was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.97 on $1.85 billion in revenues for the coming quarter and $1.16 on $7.13 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, Oil and Gas - Refining and Marketing is currently in the top 4% 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.
Valero Energy (VLO - Free Report) , another stock in the same industry, has yet to report results for the quarter ended March 2026. The results are expected to be released on April 30.
This oil refiner is expected to post quarterly earnings of $3.07 per share in its upcoming report, which represents a year-over-year change of +244.9%. The consensus EPS estimate for the quarter has been revised 43.1% higher over the last 30 days to the current level.
Valero Energy's revenues are expected to be $30.88 billion, up 2.1% from the year-ago quarter.
Investors in CVR Energy, Inc. (CVI - Free Report) need to pay close attention to the stock based on moves in the options market lately. That is because the May 15, 2026 $25 Call had some of the highest implied volatility of all equity options today.
What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
What do the Analysts Think?Clearly, options traders are pricing in a big move for CVR Energy shares, but what is the fundamental picture for the company? Currently, CVR Energy is a Zacks Rank #3 (Hold) in the Oil and Gas - Refining and Marketing industry that ranks in the Top 4% of our Zacks Industry Rank. Over the last 30 days, one analyst has increased the earnings estimate for the current quarter, while none have revised their estimates downward. The net effect has taken our Zacks Consensus Estimate for the current quarter from 69 cents per share to 97 cents in that period.
Given the way analysts feel about CVR Energy right now, this huge implied volatility could mean there’s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.
CVR Energy, Inc. is benefiting from surging Mid-Continent refining margins, but weak capture rates limit the upside. RIN costs have jumped sharply, exposing CVI's modest renewable blending capacity and regulatory burden. Governance complexity, underinvestment, a mixed track record, and capital-heavy maintenance needs keep CVI stock at Hold.
Listen to the audio version of this article (generated by AI).
Editor’s Note: The global energy market is starting to crack again.
Geopolitical tensions are rising. Oil volatility is surging. And according to veteran trader Jonathan Rose, most investors still aren’t paying attention to the signals that matter most.
In today’s issue, Jonathan explains how he reads an oil market under stress — including the two specific indicators he says tend to show up before the biggest moves in refinery and energy stocks.
He’ll share more during a free event with analyst Marc Chaikin on May 28 at 8 p.m. Eastern, where the two will unveil a new system designed to track volatility and institutional money flow together. You can reserve your seat here.
In October 1973, the world learned just how fragile the global oil order really was.
A coalition of Arab states attacked Israel on Yom Kippur. The U.S. responded by sending aid. And within days, OPEC issued an oil embargo against the United States.
The result was immediate and brutal. Oil went from $2.90 a barrel to $11.65 in three months. At the pump, Americans watched prices jump 36% practically overnight. Drivers sat in gas lines for hours, and some stations ran dry before noon. Rationing kicked in.
Americans watched gas prices explode almost overnight while Washington imposed a national speed limit of 55 miles per hour and urged citizens to conserve fuel as a patriotic duty.
The shock eventually eased. But before the decade was out, the Iranian Revolution triggered a second supply disruption that sent prices even higher. By 1981, oil had hit $35 a barrel — nearly 12 times what it cost before the OPEC embargo.
What those two crises revealed wasn’t just how much the world ran on oil. They also revealed how fast the entire system could crack when the geopolitical order shifted underneath it.
Fifty years later, it’s shifting again.
And this time, the cracks are deeper.
In this piece, I want to give you something more useful than a prediction.
I want to show you exactly how I read an oil market under stress — the two specific signals I watch, how they work together, and how they already handed us one of our best trades of the year.
If you understand these signals, you’ll never look at an oil headline the same way again. And you’ll know what to do with your money – and make a profit – before Wall Street figures it out.
Why This Oil Shock Could Rival the 1970s Earlier this year, the U.S. entered a conflict with Iran that put a lockdown on the Strait of Hormuz – the narrow waterway through which roughly 20% of the world’s oil supply passes every single day.
When it’s under pressure, we all feel it.
Oil responded immediately. West Texas Intermediate crude ran from $66 a barrel to over $100. Brent — the global benchmark — climbed from $71 to $119. In three months, crude prices nearly doubled.
But the bigger story wasn’t the price move. It was what happened inside OPEC.
After nearly 60 years, the United Arab Emirates announced it was leaving the cartel.
This is not a minor development.
The UAE is one of the world’s top five oil producers. Its exit isn’t a diplomatic footnote — it’s a fracture in the architecture that has governed global oil supply since 1960.
The timing made it worse. The announcement came right before a scheduled OPEC meeting, in the middle of an active regional conflict, with the Strait of Hormuz already under pressure.
In 1973, the crisis came from outside OPEC — Arab states using oil as a weapon against the West. What we’re watching now is that alliance coming apart. That instability may end up being deeper and harder to reverse than in 1973.
The question isn’t whether energy market volatility will stay elevated. It will.
The question is how to position yourself to profit from the volatility that is becoming a long-term feature of the energy markets.
That starts with understanding two signals.
The Two Oil Trading Signals I Watch Most Closely I’ve been trading energy markets for nearly 30 years — from the futures pits in Chicago to the options floor at the CBOE. And in all that time, I’ve found that the most reliable way to profit from oil volatility isn’t to predict where prices are going. It’s to read what the market is already telling you.
Two signals do most of that work. These aren’t predictions. They’re instruments that help the pros profit.
Signal 1: The Crack Spread The first is the crack spread. That’s basically the profit margin for oil refiners. Think of it like owning a bakery. Your input cost is flour — that’s crude oil. Your output is bread — that’s gasoline and diesel. The spread is the difference between what you paid for the ingredients and what you sold the finished product for. That difference is your profit margin.
When the crack spread expands — meaning refiners are making more money per barrel they process — refiner stocks tend to follow. When it compresses, they struggle.
Right now, the crack spread is expanding. Refiners bought crude weeks ago at lower prices. They’re selling gasoline and diesel today at prices implied by $106 crude. That gap — old crude, new prices — is pure margin. And it’s showing up directly in refiner earnings.
That’s Signal 1.
Signal 2: Oil Backwardation The second signal is backwardation in the futures. This one sounds technical. It isn’t. Here’s all you need to know.
When the oil futures curve is in backwardation, it means near-term contracts are trading above longer-dated ones. In plain English, buyers are paying a premium to get oil now rather than later. That tells you immediately that the market believes supply is too tight to absorb a shock.
That’s exactly what the WTI futures is showing us today. Front-month contracts have surged as refiners, hedgers, and institutions pay up for prompt delivery. Contracts further out into late 2026 flatten considerably.
In short, the market sees near-term supply strain but expects conditions to ease over time.
That distinction matters because it tells us where capital is flowing right now — into assets tied to near-term scarcity and pricing power. Refiners. Select producers. Names with direct exposure to U.S. domestic supply chains.
When the crack spread is expanding and the futures curve is in backwardation at the same time, the market is sending a clear two-part message: refiners are making serious money right now, and institutional energy traders are paying a premium to secure supply immediately.
That combination — margin expansion plus supply urgency — is historically when refiner stocks and energy names make their biggest moves to the upside.
It’s the setup for a bullish trade on oil and refiner stocks.
Here’s how that trade looked in practice earlier this year.
How These Oil Signals Led to an 80% Trade Back in April, both signals fired at the same time.
The crack spread was expanding. The WTI futures curve was moving into backwardation. And one name kept showing up on my radar: CVR Energy Inc. (CVI). It’s a midsized independent refiner with direct exposure to exactly the kind of margin environment the signals were pointing to.
On April 20, I got my members into a bullish position on CVR at the beginning of the month. The setup was clean. The signals were clear. The risk was defined.
In just a single week, we locked in an 80% return on the lagging refiner.
That’s not luck. That’s what happens when you stop trying to predict where oil is going and start reading what the market is already telling you. The crack spread said refiners were making serious money. Backwardation said supply was too tight to absorb a shock. CVR was the most direct way to express that opinion with defined risk.
Catalyst. Signal. Trade. That’s the whole model.
And right now, both signals are firing again.
The crack spread is expanding faster than it has in months. The WTI futures curve is deep in backwardation. The UAE’s exit from OPEC has added a layer of structural uncertainty that isn’t going away quickly. And the Strait of Hormuz remains under pressure.
The setup that handed us CVR is back. The names that benefit most from this environment are the same ones I’ve been watching since the conflict began — refiners, select producers, and companies with direct exposure to U.S. domestic supply chains.
The question now isn’t whether the opportunity is there. It’s whether you have the tools to find it before Wall Street does.
How to Trade Oil Volatility Without Guessing Direction Here’s something I tell my members all the time: Know what you’re good at… and know where you need help.
I’m good at reading volatility. Finding the setup. Identifying the signal before the crowd sees it. What’s harder — for every floor trader I’ve ever known — and for me is direction. Not whether volatility is coming. But whether the next big move breaks up or breaks down.
That’s where Marc Chaikin comes in. Marc spent decades building the quantitative tools Wall Street’s biggest institutions use to forecast market direction. He designed his Money Flow system to answer a different question than mine. I focus on where volatility is building. Marc focuses on whether institutional money flow confirms the direction.
My expertise is finding where volatility creates opportunity.
Marc’s expertise is in knowing which way it breaks.
Together, we’ve built something that combines both. We’re calling it The Convergence, and on May 28 at 8 p.m. Eastern, we’re going live with it for the first time. (You can reserve a seat for that free event right now.)
The global oil order is cracking. The two signals I’ve shown you today are already firing simultaneously. And the window to position before Wall Street catches up is, as always, shorter than it looks.
This event is free. And it’s the first time we’re combining these two systems in front of an audience.
CVR Energy's refining setup improved materially as Group 3 crack spreads strengthened sharply and 2026 should be a much cleaner operational year. The main problem is not weak refining benchmarks, but weak margin capture, as elevated RIN costs absorbed much of the benefit from stronger cracks in 1Q26. Despite the recent re-rating, CVI still lagged refining peers, suggesting the market remains skeptical that better refining economics will fully translate into EBITDA and free cash flow.
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--National Beverage Corp. (NASDAQ: FIZZ) today announced results for its third quarter ended January 31, 2026, while honoring its patriotic commitment not to pass along the full impact of tariffs to consumers:
Net sales were $265 million; Gross profit of $100 million reflects a 60 basis point year-over-year margin improvement; Earnings per share increased 5% to $.44 and; Operating cash flow was $136 million and quarter-end cash grew to $314 million. “The third quarter delivered on our expectations for this marketplace and our objective of balancing volume with product pricing and margins. While volume was soft early in the quarter, January shipments were up 7% despite the effects of winter storm Fern, which disrupted shipping across the country. Initial shipments for our fourth quarter also reflect continued volume improvements over the prior year. We will continue to monitor tariff-related cost increases and, if necessary, make price adjustments designed to balance the effects on consumers with the amount absorbed by the Company,” stated a company spokesperson.
“Innovation remains our strategic compass as our recently released beverages expand distribution and build velocity. Our newest innovation, the ‘harmoniously combined’ PineApple CocoNut was featured to an overwhelming favorable response at Natural Products Expo West – the largest annual gathering of natural and organic products. Strawberry Peach has quickly risen to among the fastest selling LaCroix flavors, and Sunshine and PineApple CocoNut are now making their way to our retail partners along with new Shasta and Faygo ZERO Sugar products.”
“A recent Food Business News report identified the top consumer trends for 2026. One trend was termed ‘layers of delight’, highlighting the desire of consumers to indulge in multisensory experiences that ‘elevate moments and combine sensory richness with well-being.’ Another trend from the report is ‘beverage with a purpose’ as consumers favor products for hydration and convenience with ‘better-for-you’ formulas with no or low sugar and natural ingredients. Clearly, our largest brand, LaCroix, has these attributes and, as one of the Most Trusted Brands in America, is poised to continue its category leadership.”
“Over our history as a public company, our track record of long-term growth and strong cash flows has delivered a superior return on equity and industry-leading return on assets. We believe our entrepreneurial operator model, balance sheet strength and focus on healthy innovative products position us to deliver a ‘healthy’ future for our consumers and shareholders,” concluded the spokesperson.
“Patriotism” – If Only We Could Bottle It!
National Beverage Corp. Consolidated Results for the Periods Ended January 31, 2026 and January 25, 2025 (In thousands, except per share amounts)
Three Fiscal Months Ended Trailing Twelve Fiscal Months Ended January 31, 2026 January 25, 2025 January 31, 2026 Net Sales $ 264,586
$ 267,050
$ 1,197,061
Net Income $ 41,208
$ 39,643
$ 188,093
Earnings Per Common Share Basic $ .44
$ .42
$ 2.01
Diluted $ .44
$ .42
$ 2.01
Average Common Shares Outstanding Basic 93,612
93,617
93,619
Diluted 93,645
93,691
93,681
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks, uncertainties and other factors described in the Company's Securities and Exchange Commission filings which may cause actual results or achievements to differ from the results or achievements expressed or implied by such statements. The Company disclaims an obligation to update or announce revisions to any forward-looking statements.
Assenagon Asset Management S.A. boosted its holdings in shares of National Beverage Corp. (NASDAQ:FIZZ – Free Report) by 56.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,624 shares of the company’s stock after purchasing an additional 23,071 shares during the period. Assenagon Asset Management S.A. owned about 0.07% of National Beverage worth $2,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently added to or reduced their stakes in FIZZ. Hantz Financial Services Inc. raised its stake in shares of National Beverage by 366.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 859 shares of the company’s stock valued at $32,000 after buying an additional 675 shares during the last quarter. AlphaQuest LLC purchased a new stake in shares of National Beverage in the third quarter worth about $33,000. Osaic Holdings Inc. boosted its stake in shares of National Beverage by 72.5% in the second quarter. Osaic Holdings Inc. now owns 1,018 shares of the company’s stock worth $44,000 after buying an additional 428 shares during the last quarter. Advisory Services Network LLC acquired a new stake in National Beverage during the third quarter worth about $39,000. Finally, Brown Brothers Harriman & Co. grew its holdings in National Beverage by 213.5% during the third quarter. Brown Brothers Harriman & Co. now owns 1,066 shares of the company’s stock worth $39,000 after acquiring an additional 726 shares during the period. 23.95% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes A number of research analysts have issued reports on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of National Beverage in a report on Friday. UBS Group raised their price objective on shares of National Beverage from $34.00 to $35.00 and gave the stock a “sell” rating in a research note on Monday, March 16th. Two analysts have rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell” and a consensus price target of $35.00.
View Our Latest Stock Analysis on FIZZ
National Beverage Stock Up 1.6% FIZZ stock opened at $33.80 on Tuesday. National Beverage Corp. has a 52-week low of $31.21 and a 52-week high of $47.89. The firm has a market cap of $3.16 billion, a P/E ratio of 16.82 and a beta of 0.75. The company’s 50-day simple moving average is $35.15 and its 200-day simple moving average is $34.79.
National Beverage (NASDAQ:FIZZ – Get Free Report) last announced its quarterly earnings results on Thursday, March 12th. The company reported $0.44 earnings per share for the quarter, meeting the consensus estimate of $0.44. The firm had revenue of $264.59 million during the quarter, compared to analyst estimates of $271.06 million. National Beverage had a return on equity of 36.00% and a net margin of 15.71%.
About National Beverage (Free Report)
National Beverage Corp. (NASDAQ: FIZZ) is a U.S.-based beverage company specializing in the development, marketing and production of nonalcoholic refreshment products. The company’s portfolio includes a range of sparkling waters, soft drinks and energy beverages designed for a variety of consumer tastes and dietary preferences. Through in-house bottling operations and strategic partnerships with co-packers, National Beverage manages production from flavor formulation to final packaging and distribution.
Founded in 1985, National Beverage has broadened its product lineup over the decades through both organic brand introductions and selective acquisitions.
Further Reading Five stocks we like better than National Beverage
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MIAMI, FL / ACCESS Newswire / March 13, 2026 / Luminar Media Group, Inc. (OTCID:LRGR) ("Luminar" or the "Company"), a diversified financial holding company focused on revenue-based financing solutions for small and mid-sized businesses and operating under the Fortun brand, today provided a general business update addressing certain previously disclosed corporate initiatives. Corporate Name and Ticker Symbol Alignment The Company expects to implement its previously disclosed corporate name change and ticker symbol change in the near term.
FY 2025 Revenue up 542% to $5.6 Million; Positive Operating Income of $1.3 Million and Net Income of $1.1 Million MIAMI, FL / ACCESS Newswire / March 31, 2026 / Luminar Media Group, Inc. (OTCID:LRGR), together with its subsidiaries Fortun Advance, LLC; Fortun Funding, LLC; Fortun Online, LLC and related affiliates (collectively, "Fortun"), today reported financial results for the fourth quarter and full-year ended December 31, 2025. The Company previously reported preliminary operating metrics on January 20, 2026, highlighting a record fourth quarter and full year, with continued strong growth across its platform.
Q1 2026 amount funded increased 93.5% year-over-year to $3.46 million; GAAP revenue increased 82.2% to $1.54 million; GAAP net income increased 152.5% to $421,358
MIAMI, FL / ACCESS Newswire / May 19, 2026 / Luminar Media Group, Inc. (OTCID:LRGR) ("Luminar" or the "Company"), a financial technology and alternative financing company operating through its Fortun-branded subsidiaries, today announced preliminary results for the first quarter ended March 31, 2026, reflecting significant year-over-year growth across both operating key performance indicators and GAAP financial metrics.
For Q1 2026, the Company funded approximately $3.46 million, compared to approximately $1.79 million in Q1 2025, representing 93.5% year-over-year growth. Amounts received increased to approximately $3.28 million, compared to approximately $1.80 million in Q1 2025, representing 82.4% growth. The number of deals funded increased to 462, compared to 261 in Q1 2025, representing 77.0% growth.
On a GAAP basis, Q1 2026 revenue increased to approximately $1.54 million, compared to approximately $846,429 in Q1 2025, representing 82.2% growth. GAAP net income increased to approximately $421,358, compared to approximately $166,862 in Q1 2025, representing 152.5% growth. Net income margin improved to approximately 27% in Q1 2026, compared to approximately 20% in Q1 2025.
As of the close of March 2026, the Company's non-GAAP accounts receivable increased to approximately $9.61 million, compared to approximately $4.00 million at the close of March 2025, representing 140.3% growth.
"These results reflect the continued expansion of our Fortun operating platform and the increasing demand we are seeing from small and mid-sized businesses seeking fast, flexible access to capital," said Yoel Damas, Chief Executive Officer of Luminar Media Group, Inc. "We are particularly pleased that our growth is not limited to a single metric. Funding volume, collections, deal count, GAAP revenue, GAAP net income and receivables all increased meaningfully year-over-year, demonstrating continued execution across the business."
Juan M. Sese, Chief Financial Officer of Luminar Media Group, Inc., added, "Q1 2026 reflects strong operating leverage in the platform. While amount funded increased 93.5% year-over-year, GAAP net income increased 152.5%, and net income margin improved from approximately 20% to approximately 27%. We believe this demonstrates the scalability of our vertically integrated model as we continue to strengthen reporting, controls and operational discipline."
Q1 2026 Compared to Q1 2025
Metric
Q1 2026
Q1 2025
%
Amount Funded
$
3,460,400
$
1,788,600
93.5
%
Amount Received
$
3,278,593
$
1,797,612
82.4
%
Number of Deals
462
261
77.0
%
GAAP Revenue
$
1,541,953
$
846,429
82.2
%
GAAP Net Income
$
421,358
$
166,862
152.5
%
Net Income Margin
27
%
20
%
-
Non-GAAP Accounts Receivable at March 31
$
9,606,289
$
3,997,197
140.3
%
The Company believes the comparison of operating KPIs and GAAP financial results provides investors with a broader view of the Company's performance. Operating KPIs such as amount funded, amount received, number of deals and non-GAAP accounts receivable help illustrate the growth and scale of the Company's revenue-based financing platform, while GAAP revenue and net income reflect the Company's financial performance under generally accepted accounting principles.
About Luminar Media Group, Inc.
Luminar Media Group, Inc. (OTC Pink:LRGR), operating through its Fortun-branded subsidiaries, is focused on providing revenue-based financing and related financial technology solutions to small and mid-sized businesses. Through its vertically integrated platform, the Company manages origination, underwriting, funding, servicing and collections, with a focus on helping businesses access flexible working capital.
Non-GAAP Financial Measures
This press release includes certain non-GAAP operating metrics, including non-GAAP accounts receivable. The Company uses these metrics internally to evaluate portfolio activity, capital deployment, collections and operating performance. These non-GAAP measures should not be considered a substitute for, or superior to, financial measures prepared in accordance with GAAP. Investors are encouraged to review GAAP financial results together with operating KPIs to better understand the Company's business performance.
Forward-Looking Statements
This press release contains forward-looking statements that are subject to risks and uncertainties. Forward-looking statements include, but are not limited to, statements regarding the Company's future financial and operating performance, growth expectations, business strategy and objectives, anticipated market demand, plans to scale operations, the timing and completion of its year-end financial close, and the timing of publication of its official financial statements and related disclosures. Forward-looking statements are often identified by words such as "will," "expects," "believes," "anticipates," "intends," "plans," "estimates," "projects," "outlook," or similar expressions.
The financial results, operating metrics, and other figures referenced in this press release are preliminary and unaudited and are based on information currently available to management. Such figures remain subject to the completion of the Company's financial close procedures, internal review, and, where applicable, audit or additional review by the Company's independent accounting firm. Accordingly, the Company's final reported results may differ from the preliminary results presented herein, and such differences may be material.
These statements are based on management's current expectations and assumptions, including assumptions regarding market conditions, customer and partner behavior, access to capital, and the Company's ability to execute its business plan. These assumptions may prove to be incorrect, and there can be no assurance that any forward-looking statements will be achieved.
Actual results and future events may differ materially from those expressed or implied in the forward-looking statements due to a number of risks and uncertainties, including, among others: the Company's ability to execute its business strategy and achieve anticipated operational results; the preliminary and unaudited nature of the financial results and operational metrics referenced in this press release, which are subject to revision and may change, potentially materially, as the Company completes its financial close and audit or review processes; the Company's ability to obtain or maintain adequate liquidity and financing on acceptable terms, or at all; changes in competitive, economic, market, or regulatory conditions; risks relating to counterparties, vendors, and strategic partners; risks associated with acquisitions, integrations, or other strategic initiatives; and volatility in the Company's stock price and trading volume, including risks associated with trading on the OTC markets. This list of factors is not exhaustive.
Forward-looking statements speak only as of the date they are made. You should not place undue reliance on these statements. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements to reflect events or circumstances after the date of this press release.
Investor Contact:
Hayden IR
James Carbonara
[email protected]
(646) 755-7412
Corporate name change aligns the public company with its Fortun operating subsidiaries and long-term brand strategy
MIAMI, FL / ACCESS Newswire / May 21, 2026 / Fortun Holdings, Corp. (OTCID:LRGR), a diversified financial services holding company focused on revenue-based financing and related financial technology solutions for small and medium-sized businesses, today announced that it has officially changed its corporate name with the State of Delaware to Fortun Holdings, Corp.
The corporate name change is now effective under Delaware law and is already beginning to reflect on certain trading platforms and market data systems. The Company expects additional platforms and data providers to update their records as their systems process the corporate action.
The Company remains in the process of completing the related ticker symbol change and regulatory review. While no assurance can be given as to timing or approval, Fortun Holdings, Corp., will continue trading under its current ticker symbol LRGR until any ticker symbol change is approved and becomes effective. The Company currently expects to provide a further update once the requested ticker symbol FRTU has been approved and becomes effective for trading.
"This official name change represents an important step in aligning our public company identity with the Fortun brand, our operating subsidiaries, and the business we are building," said Yoel Damas, President and Chief Executive Officer of Fortun Holdings, Corp. "Fortun is the name our customers, partners, and stakeholders recognize across our revenue-based financing platform, and we believe the corporate name change better reflects our current operations and long-term strategic direction."
Fortun Holdings, Corp. operates through its Fortun-branded subsidiaries, which are focused on providing revenue-based financing and related alternative funding solutions to small and medium-sized businesses. The Company believes the name change supports a clearer and more unified corporate identity as it continues to execute its growth strategy, strengthen its corporate infrastructure, and position the business for future capital markets opportunities.
The Company intends to continue communicating material developments through appropriate public disclosure channels.
About Fortun Holdings, Corp.
Fortun Holdings, Corp., formerly Luminar Media Group, Inc., is a diversified financial services holding company focused on revenue-based financing and related financial technology solutions for small and medium-sized businesses. Through its Fortun-branded subsidiaries, the Company provides working capital solutions designed to help business owners access flexible funding based on business performance.
Forward-Looking Statements
This press release contains forward-looking statements that are subject to risks and uncertainties. Forward-looking statements include, but are not limited to, statements regarding the Company's corporate name change, the anticipated adoption of the new corporate name by trading platforms and market data providers, the Company's pending ticker symbol change, the potential approval and effectiveness of the requested ticker symbol FRTU, the Company's growth strategy, business objectives, corporate positioning, and future capital markets opportunities.
Forward-looking statements are based on management's current expectations, assumptions, and beliefs, and are often identified by words such as "expects," "believes," "anticipates," "intends," "plans," "may," "will," "should," "could," "hopes," "seeks," or similar expressions. These statements are not guarantees of future performance or results, and actual results may differ materially from those expressed or implied.
There can be no assurance that the requested ticker symbol change will be approved, that any trading platform or market data provider will update its systems within any particular timeframe, or that the Company will achieve any of its strategic, operational, or capital markets objectives. The Company undertakes no obligation to update any forward-looking statements except as required by applicable law.
Investor Relations Contact:
Hayden IR
James Carbonara
[email protected]
(646) 755-7412
, /PRNewswire/ -- New Jersey American Water a subsidiary of American Water Works Company, Inc. (NYSE: AWK), the largest regulated water and wastewater utility company in the U.S., announced today the completion of its acquisition of Montague Sewer & Water Company's water and wastewater systems in New Jersey from Nexus Regulated Utilities, LLC, a subsidiary of Nexus Water Group, Inc. ("Nexus Water Group").
New Jersey American Water welcomes its new Montague Operations Team. Left to right: Manoj Patel, sr manager of Operations; Jeanne Schaefer, HR Business Partner Principal; Doug Cafaro and Bob Nowatnick, sr operators of Water & Wastewater Treatment, Mike Malloy, sr manager of Operations; and Francis Hadley, sr superintendent of Operations. Mr. Cafaro and Mr. Nowatnick are joining the company from the former Montague Sewer and Water Company as part of the acquisition. The acquisition adds approximately 810 water and 270 wastewater customer connections to New Jersey American Water's footprint. Additionally, New Jersey American Water is welcoming to its operations two employees from Montague Sewer & Water who proudly provide water and wastewater service to these customers.
"On behalf of our entire team, we are delighted to welcome our new customers and new employees to the New Jersey American Water family," said Mark McDonough, President of New Jersey American Water. "We look forward to serving our new customers and helping to ensure a smooth transition by relying on the expertise of local employees who know these operations best. Our team is committed to providing safe, clean, reliable, and affordable water and wastewater services to the communities we serve."
On May 19, 2025, American Water announced its agreement to acquire Nexus Water Group systems in eight states across the U.S., highlighting benefits for customers and demonstrating the company's successful implementation of its core growth strategy as it creates value for customers, employees, and shareholders.
Approvals by applicable state regulatory commissions and governmental entities were obtained as of May 21, 2026, and American Water completed the purchase on June 1, 2026.
New Jersey American Water is committed to ensuring a seamless transition for its new customers, who will receive additional information in the mail in the coming weeks. The information is also available now on a new, dedicated webpage on the company's website under Customer Service and Billing.
New customers will be able to take advantage of New Jersey American Water's robust customer service benefits, including its online account management portal, MyWater, as well as flexible payment options and customer assistance programs for qualifying customers needing help paying their bills.
About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886 and celebrating 140 years in 2026, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to approximately 14 million people with regulated operations in 14 states and on 18 military installations. American Water's approximately 7,000 talented professionals leverage their significant expertise and the company's national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.
For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.
About New Jersey American Water
New Jersey American Water, a subsidiary of American Water, is the largest regulated water utility in the state with approximately 875 dedicated employees working to provide safe, clean, reliable and affordable water and wastewater services to approximately 3 million people.
For more information, visit www.newjerseyamwater.com and follow New Jersey American Water on LinkedIn, Facebook, X, and Instagram.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements in this press release are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to, among other things, anticipated capital investments and the ability to achieve certain benefits, synergies and goals relating to the acquired operations. These statements are based on the current expectations of management of American Water. There are a number of risks and uncertainties that could cause actual results to differ materially from these forward-looking statements, including with respect to (1) the occurrence, in whole or in part, of the plans, benefits and synergies expected or predicted to occur as a result of the acquisition; (2) unexpected costs, liabilities or delays associated with the integration of the acquired operations; (3) regulatory, legislative, local or municipal actions affecting the water and wastewater industries, which could adversely affect American Water; and (4) other economic, business and other factors. Forward-looking statements are not guarantees or assurances of future performance or results, and American Water does not undertake any duty to update any forward-looking statement. The foregoing factors should not be considered to be exclusive.
, /PRNewswire/ -- American Water (NYSE: AWK), the largest regulated water and wastewater utility company in the U.S., joins important conversations during the Western Conference of Public Service Commissioners (WCPSC) 2026 Annual Meeting, held May 31 through June 3, 2026, in Santa Ana Pueblo, N.M. WCPSC is a regional association within the National Association of Regulatory Utility Commissioners (NARUC) and brings together commissioners, regulators, utilities and industry leaders.
"At American Water, our focus is on delivering safe, clean, reliable and affordable water and wastewater services," said Cheryl Norton, EVP and Chief Operating Officer, American Water. "From strengthening system resilience and enhancing the customer experience and supporting affordability, we remain dedicated to practical solutions that directly benefit the customers we serve."
Sarah Leeper, President, California American Water, will join the panel Affordability: Examining Causes and Cures to the Affordability Dilemma, which will focus on utility affordability. Moderated by Commissioner John Reynolds (Calif.), the panel will explore affordability challenges and opportunities driven by infrastructure investment needs, regulatory requirements and rising input costs.
American Water plays a critical role in addressing infrastructure needs, protecting water quality while remaining focused on customer affordability. Through leadership participation in conferences and meetings like WCPSC, the company continues to engage with regulators and key stakeholders to advance innovative, customer-focused solutions.
For more information about the WCPSC 2026 Annual Meeting, visit: https://www.wcpsc.org/.
About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886 and celebrating 140 years in 2026, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to approximately 14 million people with regulated operations in 14 states and on 18 military installations. American Water's approximately 7,000 talented professionals leverage their significant expertise and the company's national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.
For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.
American Water Joins Dialogue on Affordability at the Western Conference of Public Service Commissioners 2026 Annual Meeting PR Newswire
CAMDEN, N.J., June 2, 2026
, /PRNewswire/ -- American Water (NYSE: AWK), the largest regulated water and wastewater utility company in the U.S., joins important conversations during the Western Conference of Public Service Commissioners (WCPSC) 2026 Annual Meeting, held May 31 through June 3, 2026, in Santa Ana Pueblo, N.M. WCPSC is a regional association within the National Association of Regulatory Utility Commissioners (NARUC) and brings together commissioners, regulators, utilities and industry leaders.
"At American Water, our focus is on delivering safe, clean, reliable and affordable water and wastewater services," said Cheryl Norton, EVP and Chief Operating Officer, American Water. "From strengthening system resilience and enhancing the customer experience and supporting affordability, we remain dedicated to practical solutions that directly benefit the customers we serve."
Sarah Leeper, President, California American Water, will join the panel Affordability: Examining Causes and Cures to the Affordability Dilemma, which will focus on utility affordability. Moderated by Commissioner John Reynolds (Calif.), the panel will explore affordability challenges and opportunities driven by infrastructure investment needs, regulatory requirements and rising input costs.
American Water plays a critical role in addressing infrastructure needs, protecting water quality while remaining focused on customer affordability. Through leadership participation in conferences and meetings like WCPSC, the company continues to engage with regulators and key stakeholders to advance innovative, customer-focused solutions.
For more information about the WCPSC 2026 Annual Meeting, visit: https://www.wcpsc.org/.
About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886 and celebrating 140 years in 2026, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to approximately 14 million people with regulated operations in 14 states and on 18 military installations. American Water's approximately 7,000 talented professionals leverage their significant expertise and the company's national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.
For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.
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, /PRNewswire/ -- American Water (NYSE: AWK), the nation's largest regulated water and wastewater utility in the U.S., announced today that it achieved its resilience goal that uses the American Water Works Association's (AWWA) Utility Resilience Index (URI) as a metric as of year-end 2025, marking a milestone in the company's overall efforts to strengthen its ability to respond to emergencies and extreme weather events.
"Incorporating resilience into a risk management framework helps a utility improve their response and recovery strategies, thereby mitigating the potential for loss of service. The URI helps a utility identify opportunities to improve its capacity to respond and recover from an incident," said Kevin M. Morley, PhD, Senior Manager, Federal Relations, AWWA. "We applaud American Water for their continued commitment to building resilient systems for customers and communities."
URI is a measure developed by AWWA, a nonprofit association for the water industry, which helps to determine a utility's readiness to handle emergencies and its ability to safely restore service. The index evaluates preparedness across several key areas, including:
Operational and financial capabilities; Robust, emergency response and business continuity plans; and Social vulnerability factors in the local community. "In 2020, American Water set a goal to increase its weighted average URI score by 10 percent by 2030. Through proactive targeted infrastructure investments, enhanced emergency planning, and continued employee training, the company has met that goal five years early," said Cheryl Norton, EVP and Chief Operating Officer, American Water. "Reaching this goal ahead of schedule shows our deep commitment to resilience and preparedness. It means our people are ready, our systems are strong, and our communities are better protected when extreme weather events occur. Every investment we make helps ensure safe, clean, reliable, and affordable service for our customers and communities."
The URI goal is just one element of our commitment to resiliency. Over the next 10 years, American Water plans to invest approximately $48 billion in capital improvements to our systems, including infrastructure renewal, water quality, resiliency, technology, and water and wastewater system acquisitions.
Learn more about American Water's approach to resiliency here.
About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886 and celebrating 140 years in 2026, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to approximately 14 million people with regulated operations in 14 states and on 18 military installations. American Water's approximately 7,000 talented professionals leverage their significant expertise and the company's national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders. For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.
, /PRNewswire/ -- Iowa American Water announced today that Jacqueline Kleppe has been appointed to Manager of External Communications, reporting to Brad Nielsen, President of Iowa American Water. In this role, Kleppe will lead the company's communications and external affairs efforts and oversee communications strategy across the state. She is replacing Lisa Reisen, who retired from the company after 41 years of service.
Kleppe joins Iowa American Water from University of Iowa Health Care, where she served as director of outreach and engagement. She led community engagement efforts that increased regional visibility, managed statewide outreach programs that expanded access to STEM education and workforce development opportunities, and built strong relationships with businesses, nonprofits and other stakeholders to advance healthcare access, education and other initiatives.
"Jackie brings to her new position a wealth of valuable experience and strong track record of successful external affairs, community outreach and relationship building," said Nielsen. "We're excited to have her join our team and further our efforts to educate customers about the services we provide."
Kleppe has been active in the community through a number of advisory and board positions for non-profit organizations including United Way of Johnson & Washington Counties, Iowa Sports Foundation, Iowa City Area Development, and Iowa Children's Museum, and she also has served on the Iowa Governor's STEM Advisory Board. She has a master's degree in organizational leadership from St. Ambrose University and a bachelor's degree in journalism and communications from the University of Iowa.
About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886 and celebrating 140 years in 2026, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to approximately 14 million people with regulated operations in 14 states and on 18 military installations. American Water's approximately 7,000 talented professionals leverage their significant expertise and the company's national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.
For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.
About Iowa American Water
Iowa American Water, a subsidiary of American Water, is the largest regulated water utility in the state with approximately 85 dedicated employees working to provide safe, clean, reliable and affordable water and wastewater services to approximately 225,000 people.
For more information, visit iowaamwater.com and follow Iowa American Water on Facebook, X and LinkedIn.
, /PRNewswire/ -- American Water (NYSE: AWK), the largest regulated water and wastewater utility company in the U.S., participates in the closing keynote discussion during the Edison Electric Institute (EEI) 2026 Annual Conference, held June 2 through June 4, 2026, in Las Vegas, Nev., focused on power, water and resiliency.
"At American Water we are committed to providing safe, clean, reliable and affordable water and wastewater services," said John Griffith, President and Chief Executive Officer, American Water. "As critical infrastructure becomes more interconnected, we remain focused on solutions that directly benefit the customers and communities we serve."
Cheryl Norton, EVP and Chief Operating Officer, American Water will join other industry leaders to discuss the opportunities and challenges of the growing convergence between electricity, water and digital infrastructure, including reliability, affordability, and community impact, as well as what it will take to build resilient, sustainable infrastructure systems for the next decade.
American Water plays a critical role in addressing infrastructure needs, protecting water quality and customer affordability. Through leadership participation in conferences and meetings like EEI, the company continues to engage with regulators and key stakeholders to advance innovative, customer-focused solutions.
For more information about EEI, visit: https://www.eei.org/.
About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886 and celebrating 140 years in 2026, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to approximately 14 million people with regulated operations in 14 states and on 18 military installations. American Water's approximately 7,000 talented professionals leverage their significant expertise and the company's national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.
For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.
, /PRNewswire/ -- As communities across Virginia are experiencing a summer expected to bring above-normal temperatures and drier-than-average conditions, Virginia American Water is encouraging customers to take simple steps to use water more efficiently and help protect local water supplies.
Drought conditions across the U.S. have expanded significantly in recent months, reaching the highest percentage of national drought coverage in nearly four years. According to the U.S. Drought Monitor, the majority of the Commonwealth is currently experiencing severe drought conditions with some areas classified as in an extreme drought. Based on the Virginia Department of Environmental Quality's (DEQ) recent warning advisories, Virginia American Water is highlighting the importance of wise water use across local communities. Combined with forecasts calling for hotter-than-normal temperatures and below-average rainfall across many regions this summer, these conditions are expected to increase pressure on water resources and seasonal water demand.
"At Virginia American Water, wise water use is more than a seasonal concern, it's an everyday commitment," said Charles Piekanski, Vice President of Virginia American Water. "As temperatures rise and water demand increases during the summer months, simple actions taken at home and outdoors can make a meaningful difference in helping protect local water resources. Reduced usage can also result in lower water bills as well."
Virginia American Water encourages customers to practice wise water use habits throughout the summer. From adjusting your watering schedule to fixing household leaks, every drop counts. Here are some helpful outdoor tips:
Water early in the morning or later in the day and even at night to minimize evaporation. As much as 30 percent of water can be lost by watering midday. Make use of rainwater by collecting it in rain barrels for use on outdoor plants and gardens. Check sprinkler heads to help ensure water isn't being wasted on pavement or unwanted areas. Use a broom instead of a hose to clean patios, driveways and sidewalks. Mulch garden beds to retain moisture and prevent weeds. A two- to three-inch layer is typically effective. Set your mower blades higher. Grass cut to 2.5 to 3.5 inches is more drought-resistant and healthier overall. Check for leaks. Even small leaks can waste thousands of gallons of water each year. Ten percent of homes have leaks that can waste 90 gallons or more per day. Virginia American Water customers can monitor water usage through MyWater, the company's customer self-service portal which provides up to two years of usage data. MyWater also contains information about budget billing, customer assistance programs and more.
For more tips and resources, including tips for saving water indoors, visit Virginia American Water's Wise Water Use page.
About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886 and celebrating 140 years in 2026, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to approximately 14 million people with regulated operations in 14 states and on 18 military installations. American Water's approximately 7,000 talented professionals leverage their significant expertise and the company's national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors. For more information, visit amwater.com and join American Water on Facebook, X and Instagram.
About Virginia American Water
Virginia American Water, a subsidiary of American Water, is the largest regulated water company in the state, providing safe, clean, reliable and affordable water and wastewater services to approximately 384,000 people. For more information, visit www.virginiaamwater.com and join Virginia American Water on LinkedIn, Facebook, and X.
, /PRNewswire/ -- As communities across Maryland are experiencing a summer expected to bring above-normal temperatures and drier-than-average conditions, Maryland American Water is encouraging customers to take simple steps to use water more efficiently and help protect local water supplies.
Drought conditions across the U.S. have expanded significantly in recent months, reaching the highest percentage of national drought coverage in nearly four years. According to the U.S. Drought Monitor, the State of Maryland is currently experiencing severe drought conditions as a result of three consecutive years of dry weather and recent lower-than-average rainfall. Based on the Maryland Department of the Environment's recent drought level classification of severe, Maryland American Water is highlighting the importance of wise water use across local communities. Combined with forecasts calling for hotter-than-normal temperatures and below-average rainfall across many regions this summer, these conditions are expected to increase pressure on water resources and seasonal water demand.
"At Maryland American Water, wise water use is more than a seasonal concern, it's an everyday commitment," said Jeff Barton, Operations Manager at Maryland American Water. "As temperatures rise and water demand increases during the summer months, simple actions taken at home and outdoors can make a meaningful difference in helping protect local water resources. Reduced usage can also result in lower water bills as well."
Maryland American Water encourages customers to practice wise water use habits throughout the summer. From adjusting your watering schedule to fixing household leaks, every drop counts. Here are some helpful outdoor tips:
Water early in the morning or later in the day and even at night to minimize evaporation. As much as 30 percent of water can be lost by watering midday. Make use of rainwater by collecting it in rain barrels for use on outdoor plants and gardens. Check sprinkler heads to help ensure water isn't being wasted on pavement or unwanted areas. Use a broom instead of a hose to clean patios, driveways and sidewalks. Mulch garden beds to retain moisture and prevent weeds. A two- to three-inch layer is typically effective. Set your mower blades higher. Grass cut to 2.5 to 3.5 inches is more drought-resistant and healthier overall. Check for leaks. Even small leaks can waste thousands of gallons of water each year. Ten percent of homes have leaks that can waste 90 gallons or more per day. Maryland American Water customers can monitor water usage through MyWater, the company's customer self-service portal which provides up to two years of usage data. MyWater also provides information about budget billing, customer assistance programs and more.
For more tips and resources, including tips for saving water indoors, visit Maryland American Water's Wise Water Use page.
About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886 and celebrating 140 years in 2026, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to approximately 14 million people with regulated operations in 14 states and on 18 military installations. American Water's approximately 7,000 talented professionals leverage their significant expertise and the company's national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders. For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.
About Maryland American Water
Maryland American Water, a subsidiary of American Water, provides safe, clean, reliable and affordable water services to approximately 26,000 people. For more information, visit www.amwater.com/mdaw/ and join Maryland American Water on LinkedIn, Facebook, and X.
, /PRNewswire/ -- The American Water Charitable Foundation, a philanthropic non-profit organization established by American Water (NYSE: AWK), the largest regulated water and wastewater utility company in the U.S., and Tennessee American Water, today announced that three organizations received Foundation 2026 Water and Environment grants with a combined total of more than $162,000 to support communities served in the company's service area.
"We are grateful to the American Water Charitable Foundation for this investment in UTC and our students," said Chancellor Lori Mann Bruce, University of Tennessee - Chattanooga. "By supporting our development of a Water Quality Teaching and Research Lab, this grant creates a lasting foundation for hands-on learning and discovery, strengthens our research capacity and deepens our partnerships across the community."
The Water and Environment grant is part of the American Water Charitable Foundation's Keep Communities Flowing Grant Program, focusing on three pillars of giving: Water, People and Communities.
The grant will be utilized to establish the Water Quality Teaching and Research Lab in the College of Engineering and Computer Science to expand capacity for water monitoring, environmental education and analysis. The lab will provide practical training that prepares students to address evolving challenges facing the watershed and to enable cost-effective, sustainable operational and watershed management decisions.
"Protecting Tennessee's water resources is a shared responsibility—and when we work together, we can make a lasting difference for our communities and our environment," said Grant Evitts, President of Tennessee American Water. "That's why we're thankful to the American Water Charitable Foundation for supporting local organizations and projects that advance conservation, strengthen environmental education, and help keep our rivers and streams healthy."
Additional grantees include:
Hamilton County Coalition in support of substance misuse prevention, including proper disposal of medications to help prevent pharmaceuticals from entering our waterways and reduce the risk of misuse. WaterWays for educational awareness and producing a watershed management plan focused on South Chickamauga Creek. "The American Water Charitable Foundation is delighted to support eligible nonprofit organizations making a meaningful impact in Tennessee," said Carrie Williams, President, American Water Charitable Foundation. "Funding for Water and Environment grants supports projects focused on clean water, conservation, environmental education, climate variability, and water-based recreation."
Learn more about Tennessee American Water's community impact, here.
ABOUT AMERICAN WATER
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886 and celebrating 140 years in 2026, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to approximately 14 million people with regulated operations in 14 states and on 18 military installations. American Water's approximately 7,000 talented professionals leverage their significant expertise and the company's national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders. For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram
ABOUT AMERICAN WATER CHARITABLE FOUNDATION
The American Water Charitable Foundation, a philanthropic non-profit organization established by American Water, focuses on three pillars of giving: Water, People, and Communities. Since 2012, the Foundation has invested over $25 million in funding through grants and matching gifts to support eligible organizations in communities served by American Water. The Foundation is funded by American Water shareholders and has no impact on customer rates. For more information, visit amwater.com/awcf.
ABOUT TENNESSEE AMERICAN WATER
Tennessee American Water, a subsidiary of American Water, is the largest regulated water utility in the state with approximately 100 dedicated employees working to provide safe, clean, reliable and affordable water services to approximately 425,000 people in Tennessee and north Georgia.
For more information, visit www.tennesseeamwater.com and connect with us on Facebook , X, Instagram, LinkedIn and YouTube
, /PRNewswire/ -- New Jersey American Water recently announced that David Forcinito has been named Vice President of Operations. Forcinito, who most recently served as Vice President of Fleet for American Water, succeeds Ben Morris, who is joining the American Water team as Vice President of Operations for Strategic Programs.
David Forcinito, VP of Operations, New Jersey American Water "Dave's deep roots in New Jersey American Water's operations and his decades of hands-on leadership make him exceptionally well suited for this role," said Mark McDonough, president, New Jersey American Water. "We are proud to welcome him back and look forward to the expertise and continuity he will bring to our operations team."
In his new role, Forcinito will oversee the company's statewide operations including water production, wastewater collection, and field services for 3 million customers across 18 counties. Forcinito began his career with New Jersey American Water more than 35 years ago as a project engineer and built his expertise across a range of roles with increasing responsibility, including Operations Superintendent, Maintenance Manager, and Production/Field Operations Manager, before becoming Senior Director of South Operations. He became Vice President of Fleet for American Water in June 2024 and rejoined New Jersey American Water in April.
A lifelong resident of New Jersey, Forcinito holds a Bachelor of Science degree in mechanical engineering from Widener University and a Master of Science degree in water resources and environmental engineering from Villanova University. He is a registered Professional Engineer in the State of New Jersey and holds New Jersey DEP T, W, S, and C operator licenses. He is an active member of the American Water Works Association, the Water Environment Federation, and the American Society of Mechanical Engineers
About New Jersey American Water
New Jersey American Water, a subsidiary of American Water (NYSE: AWK), is the largest regulated water utility in the state with approximately 875 dedicated employees working to provide safe, clean, reliable and affordable water and wastewater services to approximately 3 million people.
For more information, visit www.newjerseyamwater.com and follow New Jersey American Water on LinkedIn, Facebook, X, and Instagram.
Media Contact:
Damarah Brown
Sr. External Affairs Specialist
New Jersey American Water
[email protected]
, /PRNewswire/ -- American Water (NYSE: AWK), the largest regulated water and wastewater utility company in the U.S., contributed expertise to key discussions at the Mid-America Regulatory Conference (MARC) 2026 held June 7-10, 2026 in Madison, Wis. Company leaders joined regulators, utility executives and industry experts to explore some of the most pressing issues facing the water and wastewater sector, including balancing reliability, affordability and environmental responsibility, as well as strengthening collaboration across critical infrastructure sectors to support growing communities.
"Water utilities today are balancing a growing number of challenges, from infrastructure investment and affordability to resilience and regulatory compliance," said Cheryl Norton, EVP and Chief Operating Officer, American Water. "These conversations are critical to helping utilities, regulators and other stakeholders identify practical solutions that strengthen water and wastewater systems to help ensure customers continue to receive safe, clean, reliable and affordable service."
Rebecca Losli, President of Illinois American Water, participated in the panel discussion Every Drop Counts: Balancing Water Reliability, Affordability, Safety and Environmental Responsibility. This session explored the complex challenges utilities and regulators face in maintaining safe, reliable and affordable water and wastewater service while addressing aging infrastructure, evolving environmental regulators, cybersecurity threats and other emerging risks. Losli and the other panelists discussed practical strategies for helping to ensure water and wastewater systems remain resilient while continuing to meet rigorous quality standards and customer expectations.
Brad Nielsen, President of Iowa American Water, participated in the Midwestern Nice: Air, Water and Energy Collaboration on Large Load Impacts panel. The discussion focused on the growing need for coordination among the water, energy and environmental sector as communities experience increased demand from large-scale economic development and industrial projects. Panelists examined approaches for evaluating infrastructure impacts, sharing data and supporting sustainable growth while maintaining reliable service.
American Water continues to help communities prepare for the future by investing in resilient infrastructure and advancing solutions that protect public health and safety. Through its involvement in MARC, the company continues to collaborate with regulators and key stakeholders to address today's challenges and build stronger systems for tomorrow.
For more information about MARC 2026, visit https://marc-conference.org/.
About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886 and celebrating 140 years in 2026, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to approximately 14 million people with regulated operations in 14 states and on 18 military installations. American Water's approximately 7,000 talent professionals leverage their significant expertise and the company's national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders. For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.
Media Contact:
Alicia Barbieri
Director, Corporate Communications and External Affairs
American Water
(856) 676-8103
[email protected]
, /PRNewswire/ -- Yesterday, California American Water filed with the California Public Utilities Commission (CPUC) a partial settlement agreement for its statewide General Rate Case to set revenue for 2027 to 2029. The filing memorializes the settlement agreement reached with the CPUC's Public Advocates Office. The remaining issue regarding treatment of Construction Work in Progress (CWIP) is pending.
Under the terms of the settlement, California American Water is permitted to recover additional annualized water and wastewater revenues of $24 million in test year 2027, $21 million estimated for escalation year 2028, and $22 million estimated for attrition year 2029 if CWIP remains in rate base. The 2027 increase is compared to the Company's revised proposed increase of $43 million above 2026 expected revenues.
The settlement agreement also strengthens California American Water's Customer Assistance Program discounts from 35 percent to 50 percent off the typical bill for qualified residential customers in Central California and continues discounts of 25 percent for qualified customers in Northern and Southern California. The settlement also authorizes the expansion of the Multi-family Assistance Payment Program pilot to qualified residents of multi-family housing in Monterey County.
California American Water will implement the new rates effective January 1, 2027, upon receiving the CPUC's decision on the settlement agreement and the outstanding issue of CWIP treatment. While other parties are involved in this General Rate Case, the settlement announced today is with the CPUC's Public Advocates Office. Customers in each of California American Water's service areas will receive more information ahead of the implementation of new rates, as well as information about customer assistance and conservation programs.
Regulated water utilities like California American Water are required by law to file a General Rate Case every three years with the CPUC to set revenues and rates. The current General Rate Case was filed on July 1, 2025, reflecting approximately $750 million of ongoing water and wastewater system investments completed and planned from 2025 through 2028. The request reinforces the Company's commitment to implementing critical system upgrades and continuing to improve water quality and reliability for its approximately 720,000 people served.
About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886 and celebrating 140 years in 2026, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to approximately 14 million people with regulated operations in 14 states and on 18 military installations. American Water's approximately 7,000 talented professionals leverage their significant expertise and the company's national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders. For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.
About California American Water
California American Water, a subsidiary of American Water with approximately 300 dedicated employees, provides safe, clean, reliable and affordable water and wastewater services to approximately 720,000 people.
, /PRNewswire/ -- On June 5, Virginia American Water filed with the Virginia State Corporation Commission (the "SCC") a settlement agreement for its current statewide General Rate Case. The filing memorializes the settlement agreement reached with the staff of the SCC and several intervenors and remains subject to SCC review and approval.
In the General Rate Case, filed by the company on November 3, 2025, Virginia American Water sought approximately $22 million of increased annualized water and wastewater revenues. Under the terms of the settlement, the parties agreed to a $16 million annualized increase in Virginia American Water's revenues. The annualized revenue increase is being driven primarily by approximately $115 million in ongoing capital investments completed and planned to be made between May 2025 and April 2027. The request reinforces the Company's commitment to implementing critical system upgrades and continuing to improve water quality and reliability for its approximately 384,000 people served.
Interim rates for Virginia American Water customers became effective May 2, 2026, and will remain in place until the SCC issues its final rate order. The difference between interim and final approved rates will be refunded with interest once the final rates are determined by the SCC.
Virginia American Water wants to remind customers about its existing bill paying assistance programs, payment arrangements or budget billing options available on the customer MyWater portal at virginiaamwater.com. Income-eligible customer requirements may also apply for assistance through the company's H2O Help to Others program, administered by Dollar Energy Fund. More information can be found at virginiaamwater.com under "Customer Service & Billing", "Customer Assistance Programs."
About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886 and celebrating 140 years in 2026, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to approximately 14 million people with regulated operations in 14 states and on 18 military installations. American Water's approximately 7,000 talented professionals leverage their significant expertise and the company's national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders. For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.
About Virginia American Water
Virginia American Water, a subsidiary of American Water, is the largest investor-owned water utility in the state, providing high-quality and reliable water services to over 384,000 people. For more information, visit www.virginiaamwater.com and follow Virginia American Water on Twitter and Facebook.
, /PRNewswire/ -- The completion of a new underground water main pipe project in the City of Carmel-By-The-Sea marks an important investment in local infrastructure, helping improve long-term water service reliability and support the community's future needs.
The project involved the installation of a new water main along Dolores Street designed to strengthen system performance, improve fire protection, reduce the risk of service interruptions, and better serve residents, businesses, and visitors. By replacing approximately 1,000 feet of nearly 100-year-old, four-inch cast iron pipe with eight-inch PVC pipe, the work will ensure a more dependable water system and prevent future service interruptions.
"Projects like this are about more than just pipe in the ground—they are about investing in the people and neighborhoods we serve every day," said David Pezzini, Senior Project Manager. "When we modernize essential infrastructure, we are making a long-term commitment to reliability, public health, and the overall quality of life in our community."
In addition to the pipe replacement, California American Water crews replaced six commercial fire services, 52 domestic service laterals and one new fire hydrant.
Work was completed with a focus on long-term value for the community, supporting water service improvements that will benefit Carmel for years to come. The finished project reflects continued infrastructure planning and a proactive approach to maintaining the systems residents depend on every day.
"Every infrastructure improvement we complete is an investment in our community's future," added Pezzini. "This underground water pipe project helps protect service for homes and businesses today while building a stronger, more resilient system for the future."
The completed project underscores an ongoing commitment to maintaining safe, reliable water infrastructure and delivering improvements that support the delivery of reliable water service to California American Water customers.
About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886 and celebrating 140 years in 2026, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to approximately 14 million people with regulated operations in 14 states and on 18 military installations. American Water's approximately 7,000 talented professionals leverage their significant expertise and the company's national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders. For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.
About California American Water
California American Water, a subsidiary of American Water (NYSE: AWK) with approximately 300 dedicated employees, provides safe, clean, reliable and affordable water and wastewater services to approximately 720,000 people.
Media Contact:
Josh Stratton
Manager, External Affairs
California American Water
831-435-6015
[email protected]
, /PRNewswire/ -- American Water (NYSE: AWK), the largest regulated water and wastewater utility company in the U.S., today announced the launch of its 2026 Flow Forward Summer Camp Program, offering high school sophomores, juniors, and seniors a multi-day workforce development experience featuring skill-building workshops, resume and interview preparation, and networking with industry professionals. This year, the program welcomes local high schoolers in Indiana, Iowa, New Jersey, Pennsylvania, and West Virginia.
"Investing in young people is essential to the future of the water industry," said Lori Sutton, EVP and Chief Human Resources Officer, American Water. "Through programs like Flow Forward, American Water is helping youth build skills, explore career pathways and experience hands-on workforce readiness opportunities and mentorship."
Additional American Water training and development opportunities include:
Future Wavemakers Internship Program: A cornerstone initiative designed to cultivate the next generation of water and wastewater industry leaders. This program is built on the foundation of mentorship, professional development, and real-world projects that align with both students' academic backgrounds and American Water's organizational goals. Interns will participate in capstone projects, networking events, and skill-building workshops, all while contributing fresh perspectives and innovative ideas to the company. This year, the program welcomed 56 college interns at American Water workplaces across the country, offering hands-on experience in engineering, finance, operations, health and safety, communications and more. Water UP! program: Providing hands-on training for adults in local communities and helping them identify and pursue careers in the water sector. Developed in partnership with Rowan College of South Jersey and hosted annually in different locations throughout N.J., Water UP!'s curriculum spans water treatment, distribution, safety and ethics, reflecting the range of skills required across the industry. Hopeworks partnership: Working with a Camden-based nonprofit on train-to-hire programs that have successfully engaged, trained and employed young adults on geographic information system projects. American Water remains dedicated to strengthening its talent pipeline and building stronger communities through innovative workforce development programs.
Learn more about American Water's workforce here.
About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886 and celebrating 140 years in 2026, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to approximately 14 million people with regulated operations in 14 states and on 18 military installations. American Water's approximately 7,000 talented professionals leverage their significant expertise and the company's national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.
For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.
American Water Launches 2026 Flow Forward Summer Camp Program to Help Teens Explore the Water Industry Workforce American Water Launches 2026 Flow Forward Summer Camp Program to Help Teens Explore the Water Industry Workforce PR Newswire
CAMDEN, N.J., June 11, 2026
, /PRNewswire/ -- American Water (NYSE: AWK), the largest regulated water and wastewater utility company in the U.S., today announced the launch of its 2026 Flow Forward Summer Camp Program, offering high school sophomores, juniors, and seniors a multi-day workforce development experience featuring skill-building workshops, resume and interview preparation, and networking with industry professionals. This year, the program welcomes local high schoolers in Indiana, Iowa, New Jersey, Pennsylvania, and West Virginia.
"Investing in young people is essential to the future of the water industry," said Lori Sutton, EVP and Chief Human Resources Officer, American Water. "Through programs like Flow Forward, American Water is helping youth build skills, explore career pathways and experience hands-on workforce readiness opportunities and mentorship."
Additional American Water training and development opportunities include:
Future Wavemakers Internship Program: A cornerstone initiative designed to cultivate the next generation of water and wastewater industry leaders. This program is built on the foundation of mentorship, professional development, and real-world projects that align with both students' academic backgrounds and American Water's organizational goals. Interns will participate in capstone projects, networking events, and skill-building workshops, all while contributing fresh perspectives and innovative ideas to the company. This year, the program welcomed 56 college interns at American Water workplaces across the country, offering hands-on experience in engineering, finance, operations, health and safety, communications and more.Water UP! program: Providing hands-on training for adults in local communities and helping them identify and pursue careers in the water sector. Developed in partnership with Rowan College of South Jersey and hosted annually in different locations throughout N.J., Water UP!'s curriculum spans water treatment, distribution, safety and ethics, reflecting the range of skills required across the industry.Hopeworks partnership: Working with a Camden-based nonprofit on train-to-hire programs that have successfully engaged, trained and employed young adults on geographic information system projects.American Water remains dedicated to strengthening its talent pipeline and building stronger communities through innovative workforce development programs.
Learn more about American Water's workforce here.
About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886 and celebrating 140 years in 2026, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to approximately 14 million people with regulated operations in 14 states and on 18 military installations. American Water's approximately 7,000 talented professionals leverage their significant expertise and the company's national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.
For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.
View original content to download multimedia:https://www.prnewswire.com/news-releases/american-water-launches-2026-flow-forward-summer-camp-program-to-help-teens-explore-the-water-industry-workforce-302798364.html
American Water Works (NYSE:AWK | AWK Price Prediction) just raised its quarterly dividend by 8% to $0.895 per share, the latest step in a decade of uninterrupted increases at the country’s largest publicly traded regulated water utility. Income investors hold AWK for one reason: a payout backed by water bills that customers across 14 states have to pay no matter what the economy does. With the stock down 8% over the past year and a giant merger with Essential Utilities pending, the question is whether AWK’s dividend trajectory is as durable as the pipes it owns. The short answer, after working through the numbers, is yes.
How the dividend gets funded AWK is a pure-play regulated water and wastewater utility serving residential, commercial, and military customers. Earnings come from a rate base of physical infrastructure (pipes, treatment plants, meters) on which state regulators allow a return. Every dollar of approved capital spending becomes future revenue once rate cases close. That model is what makes dividends here different from, say, an industrial cyclical: the cash flow underwriting the payout is set by regulatory order.
The company is currently working five general rate cases requesting $518 million in annualized revenue, with new rates in Pennsylvania and New Jersey expected to take effect in the second half of 2026. That is the engine behind management’s affirmed 7% to 9% long-term EPS and dividend growth targets.
What the coverage numbers actually say Management guides to $6.02 to $6.12 in adjusted EPS for 2026 against an annualized dividend run rate near $3.58. That works out to a payout ratio in the high 50% range, which leaves real cushion. For a regulated utility, that is a healthy zone: enough to fund growing dividends, not so high that a single bad rate case threatens the payout.
Cash flow tells the same story from a different angle. AWK paid $633 million in dividends in 2025 against $2.059 billion in operating cash flow, meaning roughly 31% of operating cash went to shareholders. The catch is capital intensity. CapEx ran $3.126 billion in 2025, well above operating cash flow, so AWK funds the gap with debt and equity. That is normal for a regulated water utility, but it means dividend safety hinges on continued capital markets access and supportive rate orders, not on self-funded free cash flow.
Balance sheet and rate trajectory Debt-to-capital sat at 58% at the end of Q1 2026, and AWK issued $700 million of 5.200% senior notes in April. That issuance went off when the 10-year Treasury was near 4.31%; the benchmark has since climbed to 4.56%, which raises the cost of the next round of borrowing planned for late 2026. Interest expense rose $12 million year over year in Q1, the single biggest reason net income slipped 4% even as operating income grew 5%. Investment-grade ratings from S&P and Moody’s remain intact.
Total return reality check A safe dividend does not automatically make a good investment. Shares trade near $126, down 13% over five years on a price basis, as rising rates compressed utility multiples. The yield sits around 2.7%, low for an income vehicle, so treat this as a dividend-growth name rather than an income vehicle. Analysts carry a $136 consensus target.
The verdict The dividend is safe. Coverage is comfortable, the regulated model converts CapEx into revenue, and the Essential Utilities merger (approved by shareholders February 10, 2026, targeting a Q1 2027 close) expands the rate base further. The real risk is that rising financing costs and PFAS-related capex compress dividend growth toward the low end of the 7% to 9% band. AWK suits investors who want a slowly compounding income stream tied to essential infrastructure, not a high current yield.
Income investors who own American Water Works (NYSE:AWK | AWK Price Prediction) just received a meaningful raise. The board lifted the quarterly dividend about 8% to $0.8950 per share, the latest in an 18-year unbroken streak of quarterly payouts from the largest publicly traded U.S. regulated water utility. With AWK shares down roughly 9% over the past year, the question for current and prospective holders is whether this dividend remains rock solid, or whether the company’s enormous infrastructure build is starting to crowd it out.
How the Cash Actually Gets to Shareholders AWK is a regulated monopoly. State public utility commissions set the rates customers pay, and those rates are designed to give the company a return on the capital it invests in pipes, treatment plants, and meters. That is the income engine. When AWK invests more in infrastructure and wins constructive rate cases, allowed revenues rise, earnings grow, and the dividend follows.
The mechanics show up clearly in the numbers. AWK delivered full-year 2025 adjusted EPS of $5.64, up from $5.18 in 2024, on revenue of $5.14 billion. Management has reaffirmed 2026 adjusted EPS guidance of $6.02 to $6.12 and a long-term 7% to 9% growth target for both EPS and the dividend through 2030 and beyond.
The Coverage Picture Against the midpoint of guidance, the annualized $3.58 dividend lands in the high-50s as a payout ratio. For a regulated utility, that leaves real cushion: earnings can dip modestly without threatening the payout, and there is headroom to keep raising it at the targeted pace.
Operating cash flow tells the same story. AWK generated $2.06 billion in operating cash flow in 2025 against $633 million in dividends paid, coverage of roughly 3x. That is the comforting number.
The Number That Should Get Your Attention Free cash flow is negative, and has been for years. 2025 capital expenditures hit $3.13 billion, well above operating cash flow. Every recent year shows the same pattern. This is normal for a capital-intensive water utility, but it means the dividend is effectively funded by external capital alongside operations.
The buildout ahead is even larger. AWK plans $19 billion to $20 billion in capital investment from 2026 to 2030, with roughly $12.5 billion of debt and $2.5 billion of equity issuance in the financing mix. The company just issued $700 million of 5.2% senior notes due 2036, and interest expense rose $12 million year-over-year in Q1 2026. Rising rate-base growth has to outrun rising financing and depreciation costs, which is the central tension for income investors.
Regulatory Tailwinds Holding Up So far, rate cases are landing constructively. AWK has 5 jurisdictions in active rate cases requesting $518 million in annualized revenue, and CFO David Bowler noted that S&P and Moody’s "note our trend of credit supportive regulatory outcomes". The pending all-stock merger with Essential Utilities, expected to close in Q1 2027, adds scale but also regulatory execution risk across seven required state approvals.
Total Return Reality Check At about $124, AWK yields about 2.7% and trades at 22x trailing earnings. The stock is down roughly 14% over five years, so the income has not bailed out total returns. Investors are paying for predictability, not capital appreciation.
The Verdict The dividend is safe. Cash coverage is comfortable, the payout ratio leaves breathing room, regulators continue to authorize rate hikes, and CEO John Griffith committed plainly: "Our Board and management team highly value our dividend." Strong total returns are a different question. AWK works for investors who want a reliably growing income stream from a defensive business and can tolerate a stock that has lagged. Investors chasing yield or expecting price appreciation alongside the income will likely find a poor fit here.
New nature preserve will safeguard water quality, wildlife habitat and expand community access to nature
, /PRNewswire/ -- Red-Tail Land Conservancy, based in Muncie, Indiana, announced today it has been awarded a $75,000 Water and Environment grant from the American Water Charitable Foundation, supporting the acquisition and permanent protection of 39 acres of mature woodland along Boston Creek in Wayne County, just south of Richmond.
The property, known as Buskirk Falls Preserve, represents a rare opportunity to protect a high-quality riparian forest in the East Fork Whitewater River watershed—an area critical to maintaining water quality, supporting wildlife habitat and strengthening regional conservation efforts.
"We had this amazing opportunity to permanently protect and preserve these 39 acres," said Julie Borgmann, executive director of Red-Tail Land Conservancy. "It's an incredible piece of property, not just because of the beautiful waterfall that's here, but really because of this large riparian forested corridor along Boston Creek and Cream Run."
The grant provides essential early funding to move the project forward, helping Red-Tail secure the property while building momentum to raise additional funds for long-term stewardship and public access.
"Our mission is twofold—we protect land for biodiversity and wildlife, but also for people," Borgmann said. "This project allows us to do both, creating a space where the community can connect with nature while protecting resources that benefit everyone."
Red-Tail Land Conservancy closed on the property on May 21, 2026, and will be permanently protected and cared for as a nature preserve, helping to safeguard a headwater stream that plays a vital role in maintaining downstream water quality. The forested landscape will filter pollutants, reduce erosion, absorb stormwater and contribute to long-term watershed health throughout the East Fork of the White River basin. Watch a video about this pristine property on YouTube: https://youtu.be/GkTg9oKAnNk.
In addition to its environmental impact, the preserve will provide opportunities for outdoor education, scientific research and community engagement. Adjacent to Earlham College's field station and located within a growing network of conserved lands, the property will serve as a resource for students, educators and residents alike.
The American Water Charitable Foundation's Water and Environment Grant Program support innovative, community-based projects focused on clean water, conservation, environmental education and water-based recreation. Red-Tail Land Conservancy's project was supported locally by Indiana American Water as part of its ongoing commitment to protecting water resources and strengthening communities across the state.
"Protecting water resources starts upstream, and projects like this demonstrate how local partnerships can create lasting benefits for entire communities," said Barry L. Suits, president of Indiana American Water. "By supporting Red-Tail's efforts, we're helping protect a critical watershed, preserve valuable habitat and ensure this land serves Indiana communities for generations to come."
"The American Water Charitable Foundation is proud to support organizations like Red-Tail Land Conservancy that are making a meaningful impact in the communities we serve," said Carrie Williams, president of the American Water Charitable Foundation. "These grants support projects that protect water quality, promote conservation and create lasting environmental benefits."
The Boston Creek Falls project also strengthens habitat connectivity in a region where forests are increasingly fragmented, supporting migratory birds and other wildlife while preserving a diverse and resilient ecosystem.
Once complete, the preserve will be protected in perpetuity—ensuring the land continues to improve water quality, provide wildlife habitat and offer meaningful opportunities for people to experience and learn from nature.
About Red-Tail Land Conservancy
Red-Tail Land Conservancy is dedicated to protecting and restoring land and habitats in East Central Indiana while engaging the community with nature and conservation. Through land preservation, stewardship, education and community partnerships, Red-Tail works to ensure natural spaces are protected for wildlife, clean water and future generations.
About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886 and celebrating 140 years in 2026, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to approximately 14 million people with regulated operations in 14 states and on 18 military installations. American Water's approximately 7,000 talented professionals leverage their significant expertise and the company's national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders. For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.
About American Water Charitable Foundation
The American Water Charitable Foundation, a philanthropic non-profit organization established by American Water, focuses on three pillars of giving: Water, People, and Communities. Since 2012, the Foundation has invested over $25 million in funding through grants and matching gifts to support eligible organizations in communities served by American Water. The Foundation is funded by American Water shareholders and has no impact on customer rates. For more information, visit amwater.com/awcf.
About Indiana American Water
Indiana American Water, a subsidiary of American Water, is the largest regulated water utility in the state, providing safe, clean, reliable and affordable water and wastewater services to approximately 1.4 million people.
Avista Corporation offers a stable, regulated utility profile with a 5.01% dividend yield and consistent net income growth exceeding inflation over five years. AVA's customer base is limited by its rural service territory, resulting in a smaller scale versus urban-focused peers, but its financial stability remains attractive. The company's five-year, $3.41 billion capital plan targets a 5% annual rate base growth, with potential upside to 12% if additional investments materialize.
Pinnacle West's stock has re-rated to 21.9x forward earnings during a guided-down year, leaving little margin for error ahead of a politically charged rate case decision expected in Q4 2026. Avista disclosed a significant data center deposit on its Q4 call that could reshape the growth story for a utility trading below its historical valuation multiples. PNW's demand story in Arizona is real (5% sales growth, TSMC expanding), but the gap between spending and earning won't close until the rate case resolves.
Every month, we screen for dividend growth stocks, looking for potential opportunities to add names to our watchlist or portfolios that could provide growing cash flow over time. We don't want just any dividend stocks, though; we screen for safety, growth, and consistency, narrowing the field down to what should be relatively higher quality dividends. We then provide some quick dives into five of the names to see if they are worth exploring even further, based on those with the highest yields.
Plan outlines clean energy targets, enhanced community investments, and customer-focused programs March 24, 2026 16:05 ET | Source: Avista Corporation
SPOKANE, Wash., March 24, 2026 (GLOBE NEWSWIRE) -- Avista Utilities, an operating division of Avista Corp. (NYSE: AVA), announced today that the Washington Utilities and Transportation Commission has formally approved Avista’s 2025 Clean Energy Implementation Plan (CEIP). The plan builds on Avista’s long-standing clean energy foundation while outlining the path forward to meet Washington’s non-carbon emitting energy requirements.
“We built a plan designed to meet the demands of a rapidly evolving energy system by bringing community voices together with our technical expertise,” said Scott Kinney, Avista energy resources & integrated planning Vice President. “Its approval demonstrates how innovation and partnership will shape a safe, reliable and sustainable energy future.”
The 2025 CEIP, required under Washington’s Clean Energy Transformation Act (CETA), is Avista’s four-year action plan that outlines the near-term steps the company will take to support the long-term energy strategy set in its Integrated Resource Plan (IRP). The IRP establishes Avista’s long range approach for meeting customer energy needs, and the CEIP turns that strategy into specific commitments, such as issuing a 2025 Request for Proposals (RFP) to acquire cost effective new energy resources.
Together, these plans guide Avista toward CETA’s requirements of providing carbon neutral electricity by 2030 and achieving a 100% clean energy supply by 2045. With conditional approval from state regulators, Avista will continue carrying out the programs and targets included in the 2025 CEIP to move steadily toward these energy milestones.
Building on a system where more than half of Avista’s generating potential already comes from hydropower, biomass, wind, and solar resources, the approved 2025 CEIP includes measurable, near‑term actions that will accelerate the company’s clean energy transition.
Key elements include:
increased clean energy delivery targets for Washington customers between 2026 and 2029modern grid management advancements, including demand response initiatives designed to reduce peak usage and improve system resiliencyexpanded energy efficiency programs to help customers reduce energy use while maintaining comfort and productivityenhanced community engagement commitments, including programs centered on equity and meaningful participation from populations historically affected by energy and environmental inequities, such as the Named Communities Investment Fund (NCIF) This is the Company's second CEIP filing since CETA was enacted. The plan was subject to public review prior to the Commission's decision.
Avista’s complete 2025 CEIP is available at myavista.com/CEIP and on the Commission website at utc.wa.gov. You can submit questions or ask for additional information via mail at: Avista, 1411 E Mission Ave, C/O Clean Energy Transformation Act, Spokane, WA 99202, email at [email protected], call (800) 227-9187, or submit a comment at myavista.com/CEIP. Reference Docket UE-250746.
About Avista Utilities
Avista Utilities is involved in the production, transmission and distribution of energy. We provide energy services and electricity to 429,000 customers and natural gas to 386,000 customers in a service territory that covers 34,000 square miles in eastern Washington, northern Idaho and parts of southern and eastern Oregon, with a population of 1.5 million. Avista Utilities is an operating division of Avista Corp. (NYSE: AVA). For more information, please visit myavista.com.
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Contact:
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Avista Corporation (NYSE: AVA - Get Free Report) has been given a consensus rating of "Hold" by the five analysts that are covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation. The average 1-year price target among brokers that have issued a report on the stock in the
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