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Key Takeaways Xcel Energy's Q2 EPS is expected at 79 cents, up 5.33%, as revenues rise 9.44% to $3.60 billion. Higher power and gas demand, new rates and data-center growth are likely to support XEL's results. New solar and battery assets may boost XEL's earnings, while higher financing costs could offset gains. Xcel Energy (XEL - Free Report) is set to report second-quarter 2026 earnings on July 30, before the market opens. The company reported earnings in line with the Zacks Consensus Estimate in the last reported quarter.

Let us discuss the factors that are likely to be reflected in the upcoming quarterly results.

Q2 Expectations for XELThe Zacks Consensus Estimate for earnings is pegged at 79 cents, implying a year-over-year increase of 5.33%.

The consensus estimate for revenues is pinned at $3.60 billion, indicating an increase of 9.44% from the year-ago reported number.

Factors Likely to Have Impacted XEL’s Q2 EarningsXcel Energy's second-quarter 2026 performance is likely to have benefited from higher electric and natural gas demand, along with the implementation of new rates across its regulated service territories. Growing electricity demand from data centers is also likely to have contributed to the company's second-quarter earnings growth.

Xcel Energy's strategic capital investments in infrastructure, including transmission, distribution and generation assets, are likely to have supported the company’s second-quarter earnings. On April 14, 2026, the company placed into service a 150-megawatt solar facility at Plant X near Earth, TX and battery energy storage systems at Cunningham Generating Station in New Mexico.

The new projects placed into service during the second quarter are likely to have strengthened the company's renewable generation and energy storage portfolio, enhanced grid reliability and expanded its regulated asset base, thereby supporting earnings growth. The company is also expected to have gained from rising demand across its expanding electric and natural gas customer base.

However, higher financing costs may partially offset the positives during the second quarter.

What Our Quantitative Model Predicts for XELOur proven model does not conclusively predict an earnings beat for Xcel Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here, as you will see below.

XEL’s Earnings ESP: The company has an Earnings ESP of -0.06% at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

XEL’s Zacks Rank: Currently, Xcel Energy carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Stocks to ConsiderInvestors may consider the following players from the same industry, as these have the right combination of elements to post an earnings beat this reporting cycle.

Ameren (AEE - Free Report) is set to report second-quarter results on July 31 and is likely to have come up with an earnings beat. It has an Earnings ESP of +0.19% and a Zacks Rank #2 at present.

AEE’s long-term (three to five years) earnings growth rate is 7.68%. The Zacks Consensus Estimate for second-quarter EPS is pinned at $1.08, which implies a year-over-year increase of 6.93%.

Edison International (EIX - Free Report) is set to report second-quarter results on July 30 and is likely to have come up with an earnings beat. It has an Earnings ESP of +4.66% and a Zacks Rank #2 at present.

EIX’s long-term earnings growth rate is 2.10%. The Zacks Consensus Estimate for second-quarter EPS is pinned at $1.02, which implies a year-over-year increase of 5.15%.

The Southern Company (SO - Free Report) is scheduled to report second-quarter results on July 30 and is likely to have come up with an earnings beat. It has an Earnings ESP of +1.16% and a Zacks Rank #3 at present.

SO’s long-term earnings growth rate is 11.36%. The Zacks Consensus Estimate for second-quarter EPS is pinned at $1.01, which implies a year-over-year increase of 10.99%.

Xylem Inc. (XYL) Q2 2026 Earnings Call July 28, 2026 9:00 AM EDT

Company Participants

Gregory Giometti
Matthew Pine - CEO, President & Director
William Grogan - Executive VP & CFO

Conference Call Participants

Deane Dray - RBC Capital Markets, Research Division
Michael Halloran - Robert W. Baird & Co. Incorporated, Research Division
Adam Farley - Stifel, Nicolaus & Company, Incorporated, Research Division
Andrew Kaplowitz - Citigroup Inc., Research Division
Scott Davis - Melius Research LLC
Andrew Buscaglia - BNP Paribas, Research Division
Christopher Grenga - TD Cowen, Research Division

Presentation

Operator

Good day, everyone, and welcome to Xylem's Second Quarter 2026 Results Conference Call. [Operator Instructions] Please also note, today's event is being recorded. At this time, I'd like to turn the floor over to Mr. Gregory Giometti, Senior Vice President, Investor Relations and FP&A. Please go ahead.

Gregory Giometti

Thank you, operator. Good morning, everyone, and welcome to Xylem's Second Quarter 2026 Earnings Call. With me today are Chief Executive Officer, Matthew Pine; and Chief Financial Officer, Bill Grogan. They will provide their perspectives on Xylem's second quarter results and discuss the third quarter and full year 2026 outlook.

Following our prepared remarks, we will address questions related to the information covered on the call. I'll ask that you please keep to one question and a follow-up and then return to the queue. As a reminder, this call and our webcast are accompanied by a slide presentation available in the Investors section of our website. A replay of today's call will be available until midnight, August 11, and will be available for playback via the Investors section of our website under the heading Investor Events.

Please turn to Slide 2. We will make some forward-looking statements on today's call, including references to future events or developments that we anticipate will or may occur in the

Key Takeaways CenterPoint Energy's Q2 adjusted EPS rose 37.9% to 40 cents, beating the consensus estimate by 8.1%.Revenues increased 10.7% year over year to $2.15 billion, while operating income reached $534 million.CNP expects 2026 adjusted EPS of $1.89-$1.91, with the upper end matching the consensus estimate. CenterPoint Energy, Inc. (CNP - Free Report) reported second-quarter 2026 adjusted earnings of 40 cents per share, which surpassed the Zacks Consensus Estimate of 37 cents by 8.1%. The bottom line also increased 37.9% from the year-ago quarter’s figure of 29 cents.

The company’s GAAP earnings were 37 cents per share, which increased 23.3% from the prior-year quarter’s figure of 30 cents.

CNP’s RevenuesCNP generated revenues of $2.15 billion, which beat the Zacks Consensus Estimate by 1.8%. The top line also came in 10.7% higher than the year-ago quarter’s reported figure of $1.94 billion.

CNP’s Operational ResultsIn the second quarter of 2026, total expenses increased 6% year over year to $1.62 billion.

The company reported an operating income of $534 million during the second quarter compared with $417 million in the prior year.

Interest expenses and other finance charges totaled $240 million, up 25.7% from $191 million recorded in the previous year.

CNP’s Financial ConditionAs of June 30, 2026, CenterPoint Energy had cash and cash equivalents of $49 million compared with $38 million as of Dec. 31, 2025.

The total long-term debt was $21.16 billion as of June 30, 2026, compared with $19.90 billion as of Dec. 31, 2025.

Net cash flow from operating activities amounted to $1.06 billion as of June 30, 2026, compared with $0.97 billion in the year-ago period.

The total capital expenditure was $2.57 billion as of June 30, 2026, compared with $2.17 billion in the prior year.

CNP’s 2026 GuidanceCenterPoint Energy expects to generate adjusted earnings per share in the range of $1.89-$1.91. The Zacks Consensus Estimate for 2026 earnings is pegged at $1.91 per share, which is in line with the upper limit of the company’s guided range.

CNP’s Zacks RankCNP currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Upcoming Utility ReleasesXcel Energy Inc. (XEL - Free Report) is slated to report its second-quarter 2026 results on July 30, before market open.

The Zacks Consensus Estimate for second-quarter sales is pegged at $3.60 billion, which implies a 9.4% improvement from the year-ago quarter’s figure. The consensus estimate for earnings is pegged at 79 cents per share.

Duke Energy (DUK - Free Report) is scheduled to report its second-quarter 2026 results on Aug. 4, before market open.

The consensus estimate for sales is pegged at $7.71 billion, which indicates a 2.6% improvement from the year-ago quarter’s figure. The consensus estimate for earnings is pegged at $1.29 per share.

Consolidated Edison (ED - Free Report) is scheduled to report its second-quarter 2026 results on Aug. 6, after market close.

The Zacks Consensus Estimate for sales is pegged at $3.74 billion, which indicates a 4.2% improvement from the year-ago quarter’s figure. The consensus estimate for earnings is pinned at 74 cents per share.

FirstSun Capital Bancorp NASDAQ: FSUN reported a second-quarter net loss of $23 million, or $0.49 per diluted share, as merger-related expenses and elevated credit provisions weighed on results following its April 1 acquisition of First Foundation.

Chief Executive Officer Neal Arnold said the quarter marked an important stage in the company’s integration of First Foundation, which expanded FirstSun’s presence in Southern California and added a wealth management platform. He said the company completed its planned balance-sheet downsizing during the quarter and is focused on completing its core-system conversion in late September.

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The quarterly loss included $44 million in after-tax merger-related expenses and $30 million in after-tax credit-loss provisioning, Arnold said. Chief Financial Officer Rob Cafera said adjusted pre-tax, pre-provision net income, excluding merger costs, rose to $70 million, or $1.50 per share, from $37.3 million, or $1.32 per share, in the first quarter.

Balance-sheet repositioning completed Cafera said FirstSun reduced acquired assets by about $3.9 billion during the second quarter, including $1.4 billion of acquired securities and $1.3 billion of acquired loans. Loan reductions included about $901 million of multifamily loans, $337 million of municipal loans and nearly $100 million of shared national credits.

On the funding side, the company reduced acquired funding by about $3.9 billion, including $2.2 billion in brokered deposits, about $330 million in higher-cost non-relationship deposits and $1.4 billion in Federal Home Loan Bank borrowings. FirstSun’s wholesale funding ratio ended the quarter at 6.8%.

Management said the actions reduced concentration, liquidity and interest-rate risks while improving capital flexibility. Excluding acquired First Foundation deposits net of downsizing, core deposits grew at an adjusted annualized rate of about 5%, led by the Los Angeles and Orange County markets.

Core loan balances, excluding acquired loans and net of downsizing, declined at a 6% annualized rate in the second quarter. New loan fundings totaled $377 million, down 29% from the first quarter, while line utilization fell 4%. However, Cafera said core loan balance growth for the first six months of 2026 was 9.7% on the same adjusted basis.

Margin pressure eased late in the quarter Net interest margin was 3.58% in the second quarter, compared with 4.25% in the first quarter. Cafera said the decline reflected the acquired loan portfolio’s lower stated coupons, higher funding costs and the timing of repositioning actions, as loan sales were completed in June.

Still, the company said its net interest margin improved by 29 basis points from April to June, reaching 3.76% in June. Deposit costs in June were 20 basis points lower than in April, according to Cafera.

FirstSun expects cost-of-funds reductions, including lower brokered-deposit costs and additional funding remixing, to support further margin improvement. Management expects net interest margin to increase slightly in the third quarter from June’s level, reach the mid-3.80% range in the fourth quarter, and move into the high-3.80% range in the first quarter of 2027.

Service-fee revenue increased 50.7% from the first quarter, primarily because of the acquisition. The company also reported organic growth in mortgage and treasury-management revenue. Mortgage and wealth-management revenue combined accounted for 62.3% of second-quarter service-fee revenue, while total service-fee revenue represented 22% of company revenue.

Credit losses tied to two larger loans Provision expense totaled $40.4 million in the second quarter and net charge-offs were $42.4 million, or 145 basis points of average loans on an annualized basis. Two loan events accounted for 86% of the quarter’s provision expense and 82% of charge-offs, Cafera said.

The first involved what management described as fraudulent misrepresentations by a borrower in the materials-distribution business. The second involved a technology company whose financial performance deteriorated during the quarter. The two loans generated approximately $35 million in pre-tax charge-offs, Arnold said.

Management said the losses were borrower-specific and not indicative of broad-based deterioration in the commercial and industrial portfolio. Nonperforming loans increased to 1.64% of total loans at June 30, from 0.86% at March 31, while criticized loans rose to 7.7% of loans from 4.3%.

Cafera said about 76% of the increase in criticized loans was related to the acquired First Foundation portfolio. Multifamily loans represented 60% of the increase in criticized balances. Management said weighted loan-to-value for criticized multifamily loans was 68%, and guarantees covered approximately 94% of those loans.

The allowance for credit losses stood at 150 basis points of loans at June 30, up from 120 basis points at the end of the first quarter. FirstSun expects full-year net charge-offs to average in the high-50-basis-point range and anticipates a more normalized charge-off level in 2027.

Capital and outlook Tangible book value per share was $35.16, down almost 9% from March 31. The company said acquisition-related tangible book value dilution was approximately 10%, lower than its original 14% estimate, reflecting lower expected merger expenses and more favorable net fair-value effects.

FirstSun reported a common equity Tier 1 capital ratio of 11.95%, total risk-based capital of 14.13% and a Tier 1 leverage ratio of 9.47%. The company also announced a share-repurchase authorization of up to $150 million, with purchases targeted over the next four quarters beginning in the third quarter.

For the remainder of 2026, management expects low-double-digit loan growth from the second-quarter period-end level and low-single-digit deposit growth. It expects mid-single-digit loan and deposit growth in 2027. The company expects its adjusted efficiency ratio to improve to the low-60% range in the fourth quarter as further cost savings are realized after the planned September systems conversion.

About FirstSun Capital Bancorp (NASDAQ:FSUN)FirstSun Capital Bancorp engages in the provision of commercial banking services. It operates through the following segments: Banking, Mortgage Operations, and Corporate. The Banking segment consists of loans and provides deposits and fee-based services to consumer, business, and mortgage lending customers. The Mortgage Operations segment originates, sells, services, and manages market risk from changes in interest rates on one-to-four family residential mortgage loans to sell and hold. The company is founded on November 9, 1981 headquartered in Denver, CO.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Key Takeaways Comfort Systems' backlog surged 73% to $14.06 billion, providing strong revenue visibility into 2027.Technology projects drove 58.7% of Q2 revenue, while modular operations expanded with capacity investments.Gross margin rose to 25.9% as stronger execution and cost leverage boosted operating profitability. Comfort Systems USA, Inc. (FIX - Free Report) has turned technology infrastructure demand, expanding modular operations and better project execution into rapid growth. Second-quarter revenues rose 50.3% year over year, while earnings per share increased 91.9%.

The key investor question is whether these advantages can keep supporting growth as the company moves into tougher comparisons and a larger operating base.

Comfort Systems Backlog Extends Growth VisibilityBacklog reached $14.06 billion at June 30, 2026, up 73% from the prior-year period and 13% sequentially. Same-store backlog increased to $13.7 billion from $8.12 billion a year earlier.

That backlog supports revenue visibility into 2027. Comfort Systems expects roughly 65% to 75% of remaining construction performance obligations to convert into revenues over the next 12 months.

FIX Gains From Technology Infrastructure DemandTechnology projects accounted for 58.7% of second-quarter revenues, up from 43% a year earlier. The mix shift shows how data center and related infrastructure work has become a larger driver of the company’s project base.

Bookings remained elevated across traditional construction and modular offerings. EMCOR Group, Inc. (EME - Free Report) , another mechanical and electrical construction services provider, offers investors a useful comparison point for demand tied to complex building systems. Quanta Services, Inc. (PWR - Free Report) is also relevant because power and communications infrastructure needs are increasingly tied to large-scale technology development.

Comfort Systems Expands Modular CapacityModular operations generated 17% of first-half revenues. The business gives Comfort Systems a scalable way to serve repeatable technology projects while moving more work into controlled production environments.

The company had more than 3.5 million square feet of dedicated modular capacity at the end of the second quarter. Management expects capacity to exceed 4 million square feet by year-end 2026 and reach about 5 million by late summer 2027, supported by customer commitments and investments in automation, robotics and fabrication equipment.

FIX Converts Scale Into Wider MarginsSecond-quarter 2026 gross margin expanded to 25.9% from 23.5% a year earlier. Operating margin improved to 17.1% from 13.8%, helped by stronger project execution, favorable mix and better cost leverage.

Selling, general and administrative expenses fell to 8.8% of revenues from 9.7%. Adjusted earnings before interest, taxes, depreciation and amortization rose 79.7% year over year to $600.5 million, showing that higher throughput is converting into broader profitability.

Comfort Systems Faces Capacity and Mix RisksLabor availability remains the company’s main growth constraint. Management continues to describe demand as stronger than available capacity, which means execution depends on hiring, training and deploying skilled workers across markets.

Capital spending is also elevated as Comfort Systems expands modular facilities and buys specialized equipment. Larger technology exposure adds another risk, since customer concentration, large projects and favorable estimate revisions can make quarterly margins more volatile even when end-market demand stays healthy.

FIX Signals Favor Growth but Not ValueComfort Systems’ backlog, technology mix and modular expansion support a growth-oriented operating story. The offset is that expectations have risen after a sharp stock advance and rapid earnings expansion.

The stock currently carries a Zacks Rank #3 (Hold), with a VGM Score of B. Its Growth Score of A aligns with the company’s revenue, earnings and backlog momentum, while the Value Score of D points to a less favorable valuation setup. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Momentum Score of C reinforces a balanced near-term view. FIX still has clear operating strengths, but the ranking and scores suggest investors should weigh that growth profile against valuation and execution risks.

Key Takeaways Robert Half matched Q2 EPS estimates as Talent Solutions delivered sequential revenue improvement.RHI expects Q3 adjusted EPS of 45 cents to 53 cents, with the midpoint above the Zacks Consensus Estimate.Robert Half sees improving hiring demand as Permanent Placement grows & Contract Talent Solutions stabilizes. Robert Half Inc. (RHI - Free Report) reported second-quarter 2026 adjusted earnings of 26 cents per share, which matched the Zacks Consensus Estimate but declined 36.6% year over year. Revenues of $1.34 billion surpassed the consensus estimate by 0.8% but decreased 2.4% year over year.

However, investors remain optimistic due to strong earnings guidance for the third quarter of 2026, as the stock has gained 5% since the company released results on July 23.

The company guided adjusted earnings per share between 45 cents and 53 cents, with the midpoint of 49 cents being higher than the Zacks Consensus Estimate of 47 cents.

Over the past year, RHI's shares have risen 3.5% compared with the industry's 3.7% growth. The Zacks S&P 500 composite has gained 18.4% during the said time frame.

The earnings performance of the reported quarter reflected improving demand in Talent Solutions, partly offset by continued weakness at Protiviti and restructuring-related costs.

Talent Solutions Show Sequential ImprovementTalent Solutions revenues totaled $865.4 million, down 1% year over year. Within the segment, Contract Talent Solutions revenues declined 1.6% to $747.4 million, while Permanent Placement Talent Solutions revenues increased 2.9% to $118 million, marking a return to year-over-year growth.

Protiviti revenues fell 4.9% year over year to $471 million, reflecting ongoing softness in the U.S. financial services regulatory environment. Management noted that Talent Solutions delivered its third consecutive quarter of sequential revenue growth on an adjusted basis, while hiring demand continued to improve.

RHI’s MarginsContract Talent Solutions' gross margin remained 39.1%, unchanged from the prior-year quarter. Overall, Talent Solutions’ gross margin improved to 47.4% from 47.1% a year ago.

Protiviti's reported gross margin declined to 13.5% from 19.7%. On an adjusted basis, gross margin was 18.5%, down from 22.3%, reflecting approximately $7 million in severance costs related to restructuring actions.

Profitability Pressured by Higher ExpensesThe company reported an operating loss of $62.3 million, against an operating income of $1.5 million in the year-ago quarter. Adjusted operating income was $38.6 million, representing 2.9% of revenues.

The quarter included a $100.9 million gain from investments held in employee deferred compensation trusts, fully offset by related compensation expenses, resulting in no impact on net income. The effective tax rate increased to 35% from 33% a year ago.

Balance Sheet & Cash FlowRobert Half ended the quarter with $324.7 million in cash and cash equivalents, compared with $380.5 million a year earlier. Accounts receivable stood at $821.4 million. Cash flow from operations totaled $109 million in the quarter. The company paid a quarterly dividend of 59 cents per share, returning $59 million to its shareholders.

RHI’s Other GuidanceFor the third quarter of 2026, Robert Half expects revenues to be between $1.31 billion and $1.41 billion, with the midpoint of $1.36 billion in line with the Zacks Consensus Estimate.

At the midpoint, management expects Talent Solutions revenue growth of about 3% year over year, while Protiviti revenues are projected to decline about 6%. Management noted improving hiring activity, with Contract Talent Solutions revenues down 1% in the first two weeks of July 2026 and Permanent Placement revenues up 4% during the first three weeks of the month.

Currently, Robert Half carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recent Earnings SnapshotsWaste Connections, Inc. (WCN - Free Report) reported impressive second-quarter 2026 results. WCN’s adjusted earnings of $1.50 per share outpaced the consensus mark by 11.1% and rose 16.3% from the year-ago quarter. Waste Connections’ total revenues of $2.56 billion surpassed the consensus mark by 1.1% and increased 6.4% year over year.

Rollins, Inc. (ROL - Free Report) posted unimpressive second-quarter 2026 results. ROL’s adjusted earnings of 32 cents per share missed the Zacks Consensus Estimate by 5.9% but rose 6.7% year over year. Total revenues of $1.08 billion fell short of the consensus estimate by 1.7% but increased 7.9% from the year-ago quarter.

Key Takeaways BRBR trades below industry, sector and historical valuation levels after a sharp 2026 stock decline.BellRing Brands cut 2026 sales and EBITDA guidance amid weaker demand, promotions and higher costs.BRBR benefits from protein demand, distribution gains, innovation and remaining share repurchase capacity. BellRing Brands, Inc. BRBR has seen a sharp valuation reset in 2026 as investors weigh weaker guidance, falling margins and a less certain earnings recovery. The stock’s lower multiple now reflects a more cautious view of the business.

The question is whether that discount adequately compensates investors for execution risks tied to promotions, input costs, freight, mix and the timing of margin improvement.

BRBR Trades Below Key Valuation BenchmarksBRBR trades at 10.2X forward 12-month earnings, below 14.58X for its Zacks sub-industry, 17.0X for the broader Zacks Consumer Staples sector and 20.2X for the S&P 500 index.

The discount also looks large against the company’s own history. BellRing shares trade well below the stock’s five-year median forward earnings multiple, after falling 51.1% year to date and 76.5% over the trailing 12-month period.

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BellRing Brands’ Guidance Reset Raises RiskManagement lowered fiscal 2026 net sales guidance to $2.33-$2.37 billion, or flat to 2% growth. The prior outlook called for $2.41-$2.46 billion, or 4% to 6% growth.

The adjusted EBITDA outlook was cut to $315-$335 million from $425-$440 million. The revision reflects weaker Premier Protein baseline velocities, more muted demand-driver contribution, unfavorable mix, increased trade investment, freight and protein inflation, lower cost savings and reduced selling, general and administrative expense leverage.

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

BRBR Earnings Show Significant CompressionBellRing’s fiscal second-quarter earnings showed why the valuation reset alone may not settle the investment debate. Adjusted earnings fell 74% to 14 cents, while adjusted EBITDA declined 55% to $53.8 million.

Adjusted EBITDA margin fell to 9% from 20.2% a year earlier. Premier Protein volumes rose 11%, primarily from promotions and distribution gains, but average net selling prices declined because of promotional investment and unfavorable mix.

That matters for investors assessing sales quality. Volume growth can protect category relevance, but it does not necessarily rebuild earnings if it depends heavily on discounts while costs remain elevated.

BRBR needs better pricing, mix and cost control to convert demand into stronger margins. Until that happens, earnings recovery could lag the company’s top-line opportunity.

BellRing Brands Retains Long-Term SupportThe risk case is balanced by solid long-term demand drivers. BellRing operates in a protein category that remains healthy, with ready-to-drink shakes still benefiting from mainstream wellness trends and retailer support.

Distribution also remains a positive. Premier Protein consumption outside club rose 15% in the fiscal second quarter, while mass, food and eCommerce generated high-teens growth. Innovation through Premier Protein Ultimate and Premier Protein Sparkling Soda adds potential new use cases and shelf opportunities.

The Simply Good Foods Company (SMPL - Free Report) is a relevant active-nutrition comparison because its Atkins and Quest brands compete for health-and-wellness consumer spending. Celsius Holdings, Inc. (CELH - Free Report) , a functional beverage company with CELSIUS and Alani Nu, also shows how wellness-oriented beverage brands are competing for consumer routines and retail space.

Capital allocation provides another support point. BellRing had $516.9 million remaining under its share-repurchase authorization as of March 31, 2026. Management expects strong cash flow in the second half of 2026 and net leverage in the low 3X range for the remainder of the fiscal year.

Image Source: Zacks Investment Research

BRBR’s Valuation Signal Remains MixedThe bottom line is that BRBR’s lower multiple improves the valuation setup, but it does not erase execution risk. The company still needs to show that category demand, distribution and innovation can translate into better earnings quality.

The current Zacks Rank and individual Style Scores are not specified for BRBR. In general, the Zacks Rank is most useful for evaluating estimate-revision momentum, while Style Scores help investors assess value, growth and momentum characteristics alongside that rank.

For BRBR, the Neutral view and $14 price target point to a balanced risk-reward profile rather than a clear bullish signal. Discounted multiples may attract attention, but weaker visibility around margins and earnings recovery keeps the valuation message mixed.

Principal Financial Group NASDAQ: PFG reported second-quarter 2026 results marked by double-digit earnings growth, margin expansion and continued capital returns, while executives also addressed concentrated investment-management outflows and an agreement to acquire employee benefits provider Beam Benefits.

Chair, President and CEO Deanna Strable said adjusted non-GAAP earnings per share increased 17% from a year earlier and 15% year to date, exceeding the high end of the company’s target range. Enterprise earnings grew 13%, supported by 6% net revenue growth and 200 basis points of margin expansion.

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Strable said favorable underwriting and improved mortality in the Benefits and Protection segment, strong Retirement and Income Solutions fundamentals, and positive market conditions for fee-based businesses more than offset the effect of investment-management net cash outflows.

Second-Quarter Financial Results and Capital Position CFO Joel Pitz said non-GAAP operating earnings totaled $547 million in the quarter, up 12% year over year, while earnings per share rose 16% to $2.50. Excluding significant variances, operating earnings were $529 million, up 13%, and earnings per share were $2.42, up 17% from a year earlier.

Total company operating margin reached 32%, expanding 200 basis points from the prior-year period. Non-GAAP operating return on equity, excluding significant variances, was 16.4%, up 120 basis points year over year and above the midpoint of Principal’s 15% to 17% target range. Net income excluding exit business was $535 million, a 24% increase from the year-ago quarter, with minimal credit losses, Pitz said.

Managed assets under management ended the quarter at $808 billion, up 5% from the first quarter and 7% from the second quarter of 2025.

Principal returned $427 million to shareholders during the quarter, comprising $250 million in share repurchases and $177 million in dividends. Year-to-date shareholder returns totaled $800 million. The company said it remains on track for full-year capital deployment of $1.5 billion to $1.8 billion.

The company also raised its common-stock dividend for the 13th consecutive quarter. It announced a third-quarter dividend of $0.84 per share, up $0.02 sequentially and 8% from a year earlier.

Pitz said Principal ended the quarter with more than $1.6 billion in excess and available capital, including $950 million at the holding company, $300 million at subsidiaries and $350 million above its targeted risk-based capital ratio. Its risk-based capital ratio was approximately 400% at quarter-end.

Retirement, Benefits Results Drive Growth In Retirement and Income Solutions, pre-tax operating earnings increased 8% from a year earlier, supported by 5% net revenue growth and expense discipline. Operating margin expanded 120 basis points to 41%.

Strable said retirement transfer deposits rose 30% year over year and recurring deposits increased 6%. Roll-ins reached $1.7 billion during the quarter and more than $7 billion over the trailing 12 months, with both measures up nearly 20%. The company also reported $2 billion in defined-contribution investment-only sales and $500 million of pension risk transfer sales during the quarter.

Chris Littlefield, president of Retirement and Income Solutions, said the company continued to see growth in participants with account balances, higher deferrals and strong retention. Plan counts were flat to slightly down as Principal de-emphasized the micro-plan market in favor of plans with greater assets and investment-mandate opportunities, he said.

Benefits and Protection generated pre-tax operating earnings of $191 million, up 29% year over year. Specialty Benefits earnings rose 29% to a record $162 million, while the loss ratio improved 280 basis points to 57.4%. Specialty Benefits operating margin increased 360 basis points to 19%.

Amy Friedrich, president of Benefits and Protection, attributed the improvement to favorable results across product lines, including dental-network optimization, past pricing actions, lower disability incidence and lower group life frequency. She said Principal now expects full-year Specialty Benefits underwriting results to emerge below the low end of its previously communicated 60% to 64% loss-ratio range.

Asset Management Outflows Remain a Headwind Principal Asset Management’s earnings increased 6% year over year, aided by assets under management growth and margin expansion. Investment-management earnings rose 4%, as slightly higher revenue and expense discipline offset elevated severance costs. The company said severance expenses across investment management and international pension were about $7 million during the quarter.

However, the company recorded approximately $11 billion in total-company net outflows, concentrated in a small number of U.S. active equity strategies. Kamal Bhatia, president and CEO of Principal Asset Management, said those strategies represent slightly more than 5% of firm assets under management and have faced an “acute and unusual” market environment that has not rewarded quality-oriented, valuation-aware stock selection.

Bhatia said management expects net flows to remain somewhat challenged in the second half, though the committed but unfunded pipeline increased to roughly $10 billion from the first quarter. He also cited growth in other areas, including private markets, international pension assets and active ETFs.

Private markets assets under management increased 10% year over year, while international pension assets under management climbed 18% to a record $169 billion. Active ETFs generated $500 million in quarterly net inflows and $2 billion over the trailing 12 months.

Beam Benefits Acquisition and Portfolio Actions Principal announced earlier in July that it agreed to acquire Beam Benefits, a digital-first employee benefits company serving small and midsize businesses. Beam has more than 25,000 employer customers, about 400,000 members and generated $175 million of premium in 2025, according to Friedrich.

Management said the transaction would expand Principal’s SMB reach and add digital quoting, underwriting and distribution capabilities. Friedrich said potential benefits include eliminating certain leased dental-network costs and extending Beam’s technology across Principal’s broader small-case business.

Pitz said the acquisition is not expected to change the company’s 2026 capital-deployment plan, earnings outlook, free-cash-flow outlook or return-on-equity outlook. Strable said Principal views acquisitions as opportunistic accelerators rather than a replacement for organic growth and will continue to apply financial, strategic and cultural criteria to potential deals.

The company also completed the transition of its Hong Kong pension business to BCT and said its pending sale of the Chile annuity business remains part of efforts to optimize its portfolio.

About Principal Financial Group (NASDAQ:PFG)Principal Financial Group NASDAQ: PFG is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm's business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal's product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Key Takeaways Darling Ingredients' Q2 revenues are expected to rise 21.8% year over year to $1.8 billion. Higher fat and protein prices, strong poultry volumes and better product mix are set to support margins.Diamond Green Diesel is expected to produce about 320 million gallons near full capacity. Darling Ingredients Inc. (DAR - Free Report) is likely to witness a top-and bottom-line increase when it reports second-quarter 2026 earnings on July 30. The Zacks Consensus Estimate for revenues is pegged at $1.8 billion, suggesting growth of 21.8% from the year-ago period figure.

The consensus mark for earnings has risen from $1.28 to $1.45 over the past seven days, which implies substantial growth from 9 cents reported in the year-ago period. DAR has a trailing four-quarter surprise of 16.1%, on average.

Factors Likely to Influence DAR’s Upcoming ResultsDarling Ingredients’ second-quarter performance is likely to have benefited from a more favorable operating environment, improving commodity markets and continued operational execution across its global platform. Management expected earnings momentum to strengthen as 2026 progressed and projected core ingredients EBITDA of $260-$275 million for the quarter.

Higher fat and protein prices are expected to have supported revenues and margins, with the acceleration in North American fat prices beginning in March and expected to flow through during May and June. Strong poultry volumes, healthy global raw-material availability, improved product quality and sales into higher-value markets are likely to have provided additional support.

Growing collagen demand in Europe and Asia, broader applications across food, nutrition and health products, and favorable pricing and product mix are likely to have aided the Food business. Fuel results may also have increased sharply, as Diamond Green Diesel was expected to produce roughly 320 million gallons and operate near full capacity amid constructive renewable-diesel margins. Higher European energy prices may have supported non-DGD operations as well.

However, stagnant cattle supplies, commodity-price realization lags and early-quarter tariff-related pressure in Brazil may have limited some margin upside.

Earnings Whispers for DAROur proven model doesn’t conclusively predict an earnings beat for Darling Ingredients this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.

 Darling Ingredients currently carries a Zacks Rank #3 and has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Stocks With the Favorable CombinationHere are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.

Archer-Daniels-Midland Company (ADM - Free Report) currently has an Earnings ESP of +11.52% and a Zacks Rank of 2. The consensus estimate for ADM’s quarterly revenues is pinned at $22.4 billion, which calls for 5.7% growth from the figure reported in the prior-year quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Archer-Daniels’ upcoming quarter’s EPS is pegged at $1.27, which implies a 36.6% rise year over year. ADM delivered a trailing four-quarter earnings surprise of 5.4%, on average.

Kimberly-Clark Corporation (KMB - Free Report) currently has an Earnings ESP of +1.43% and a Zacks Rank of 3. The Zacks Consensus Estimate for Kimberly-Clark’s upcoming quarterly revenues is pegged at $4.2 billion. The figure indicates a 1.7% increase from the prior-year quarter.

The Zacks Consensus Estimate for Kimberly-Clark’s quarterly earnings per share is pegged at $2.00, suggesting a 4.2% gain from the year-ago period figure. KMB delivered a trailing four-quarter earnings surprise of 19.1%, on average.

Monster Beverage Corporation (MNST - Free Report) currently has an Earnings ESP of +2.61% and a Zacks Rank of 3. The consensus estimate for Monster Beverage’s quarterly revenues is pinned at $2.4 billion, which implies 14.5% growth from the figure reported in the prior-year quarter.

The Zacks Consensus Estimate for the upcoming quarter’s EPS is pegged at 59 cents, which calls for a 13.5% jump year over year. MNST delivered a trailing four-quarter earnings surprise of 9.6%, on average.

Key Takeaways SoFi expects Q2 adjusted net revenues of about $1.115B, up roughly 30%, with EPS of 10-11 cents.Strong lending, deposits and product adoption may support growth, while Technology Platform remains softer.With execution, valuation and credit risks still in focus, holding shares appears the preferred stance. SoFi Technologies, Inc. (SOFI - Free Report) , a digital financial services company, is slated to release second-quarter 2026 results on July 29, before market open. For the second quarter of 2026, SoFi expects adjusted net revenues of roughly $1.115 billion, implying approximately 30% year-over-year growth. The adjusted EBITDA margin is projected near 30%, equivalent to around $330 million in EBITDA.

The Zacks Consensus Estimate for the to-be-reported quarter’s adjusted earnings per share (EPS) and revenues is pegged at 11 cents per share and $1.11 billion, respectively.  While the consensus mark for second-quarter 2026 adjusted EPS has been revised a cent downward to 11 cents over the past 60 days, it suggests 37.50% growth year over year. The Zacks Consensus Estimate for quarterly revenues implies a notable year-over-year increase of 29.67%.

Image Source: Zacks Investment Research

For the current year, the Zacks Consensus Estimate for SoFi Technologies’ revenues is pegged at $4.66 billion, indicating a rise of 29.85% year over year. The consensus mark for 2026 adjusted EPS stands at 59 cents, calling for an expansion of around 51.28% on a year-over-year basis.

Over the trailing four quarters, the company’s EPS surpassed the Zacks Consensus Estimate on three occasions and met on the other. This is depicted in the graph below:

Here Is What Our Quantitative Model Predicts for SOFIOur proven model does not conclusively predict an earnings beat for SOFI this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here. You can see the complete list of today’s Zacks #1 Rank stocks here.

SOFI has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

SoFi’s Q2 Earnings Could Test Its Growth MomentumSoFi Technologies entered its second quarter with a bar after opening 2026 with record revenues, originations, members and products. Management expects adjusted net revenues of about $1.115 billion, up roughly 30% year over year, with an adjusted EBITDA margin near 30% and EPS of 10 to 11 cents.

Lending is likely to have remained the main growth driver. After record first-quarter originations across personal, student and home loans, SoFi is likely to have experienced demand from borrowers refinancing high-cost debt, funding education and seeking home financing. Its loan platform business should have provided fee income without adding credit risk.

Credit quality will matter as much as growth. SoFi entered the second quarter with stable personal-loan charge-offs, lower delinquency rates and strong borrower profiles. However, investors should watch for any change in borrower performance, fair-value marks or funding costs.

Financial Services is expected to have benefited from rising deposits, card spending, brokerage activity and product adoption. The April relaunch of SoFi Plus may have increased subscriptions and encouraged existing members to open additional products, supporting recurring revenues and stronger customer value.

Technology Platform remains the softer area after losing a large client, but the second quarter is expected to reveal whether new customers are beginning to offset that pressure. Margins, marketing spending and product investment need to be tracked, since management warned that heavier first-half expenses would weigh on quarterly profitability while supporting growth later in 2026.

SOFI's Price Performance & ValuationShares of SoFi have plunged 35.5% so far in the year. The Zacks Financial - Miscellaneous Services industry has declined 12.8%, while the S&P 500 composite has risen 7.6% over the same time frame. SoFi’s peers like Affirm Holdings, Inc. (AFRM - Free Report) and Upstart Holdings, Inc. (UPST - Free Report) have experienced different trends, with Affirm Holdings just falling 1.9%, while Upstart has registered a 37.1% decline.

Year-to-Date Price Performance

Image Source: Zacks Investment Research

Valuation-wise, SoFi trades at a forward price-to-earnings of 23.81X, ahead of its industry’s average of 12.79X but well below its one-year median of 42.01X. SOFI stock is also currently trading at a reasonable discount compared with Affirm Holdings but at a premium to Upstart. Affirm Holdings is trading at a forward 12-month price-to-earnings of 40.74X, while Upstart is trading at 9.71X.

However, the Value Score of F suggests that SoFi may not be a bargain at current levels.

Forward 12 Month Price-to-Earnings Ratio

Image Source: Zacks Investment Research

How to Play SoFi Technologies Stock Ahead of Q2 Earnings?SoFi entered the second quarter with strong lending demand, rapid member growth and improving cross-selling across banking, investing and payments. New products, including SoFi Plus, small-business loans, AI investing tools and SoFiUSD, could deepen engagement and expand fee income over time.

Still, near-term earnings may face pressure from higher marketing, product investment and softer Technology Platform revenues following a major client loss. Credit quality and loan fair-value marks also remain key risks in a higher-rate environment. With growth prospects balanced by execution, valuation and credit-cycle uncertainty, maintaining their current position seems a preferable stance while awaiting clearer evidence of sustained margin expansion.

Key Takeaways BAH's adjusted EPS rose 22.3% y/y to $1.81, while revenues fell 4.2% y/y to $2.80 billion.The adjusted EBITDA margin expanded 130 basis points, lifting adjusted EBITDA by 7.4% y/y to $334 million.National Security grew 1.3% y/y, but Civil and Commercial revenues declined 16.4% y/y. Booz Allen Hamilton Holding Corporation (BAH - Free Report) reported first-quarter fiscal 2027 adjusted earnings of $1.81 per share, which beat the Zacks Consensus Estimate by 21.5% and rose 22.3% year over year, driven by stronger profitability, a lower tax rate, a reduced share count and an unrealized investment gain.

Revenues of $2.80 billion matched the consensus estimate but declined 4.2% year over year. The top line reflected continued weakness in Civil, while National Security grew. The quarterly book-to-bill ratio was 1.5X.

The reported results did not impress investors. Moreover, the absence of second-quarter guidance and weak fiscal 2027 guidance disappointed the market, as the stock has declined 1.2% since the earnings release on July 24.

Booz Allen guided fiscal 2027 adjusted earnings to be between $6.00 and $6.35 per share, with the midpoint of $6.175 being lower than the Zacks Consensus Estimate of $6.20 per share.

The company’s fiscal 2027 revenue guidance ranges from $11.2 billion to $11.7 billion, implying 0-4% growth. However, the midpoint ($11.45 billion) of the guided range is lower than the Zacks Consensus Estimate of $11.46 billion.

BAH's Margins Expand on Contract ExecutionAdjusted EBITDA increased 7.4% year over year to $334 million. The adjusted EBITDA margin expanded 130 basis points to 11.9%, reflecting improved contract execution, favorable timing of investment spending and early shifts toward outcomes-based fixed-price work.

Adjusted net income rose 17.9% to $217 million. The quarter also included a $19 million pretax unrealized gain on a venture investment, which supported adjusted earnings growth alongside a lower tax rate and a reduced share count.

Booz Allen's National Security Business AdvancesNational Security revenues increased 1.3% year over year to $2.03 billion. Management cited healthy demand, improving funding and stronger hiring activity as the company ramps up new work across defense, intelligence, cyber and advanced technology missions.

Civil and Commercial revenues fell 16.4% to $772 million. The decline reflected prior-year contract reductions, lower Treasury-related work, fewer new program starts and smaller follow-on contracts. Management expects another sequential double-digit decline in Civil revenues in the second quarter before pressures begin to ease later in the year.

BAH's Backlog Signals Improving FundingFunded backlog increased 15.2% year over year to $4.66 billion, while total backlog rose 3.2% to $39.48 billion. The trailing 12-month book-to-bill ratio was 1.1X.

The company also reported that funding increased 17% year over year in the quarter. Its pipeline of other transaction authority opportunities, which can provide faster and more flexible government procurement, grew 18%. Fixed-price contracts represented 21% of revenues, up from 18% a year earlier.

Booz Allen Steps Up Strategic InvestmentBooz Allen deployed $447 million in capital during the quarter. Of this amount, $324 million went toward the Defy acquisition and venture investments, while $123 million was returned to shareholders through dividends and share repurchases.

The company expects to close its acquisition of Ultra I&C Mission Solutions in the second quarter. Management believes the transaction will broaden its defense technology portfolio across command-and-control software, ruggedized edge computing and encryption management.

BAH Generates Robust Cash FlowNet cash provided by operating activities increased 136.1% year over year to $281 million. Free cash flow surged 171.9% to $261 million, supported by strong collections and favorable timing.

BAH ended the quarter with $540 million in cash and $2.0 billion in total liquidity. Total debt was $3.94 billion, while the net leverage ratio was 2.7X. Days sales outstanding increased seven days to 80 due to the revenue-recognition profile of the Defy business.

Booz Allen’s Other Fiscal 2027 OutlookAdjusted EBITDA is projected between $1.24 billion and $1.29 billion, with an adjusted EBITDA margin of approximately 11%.

Free cash flow is forecasted to be between $825 million and $925 million. Management continues to expect growth to be weighted toward the second half, with National Security accelerating as new work ramps up.

The company expects second-quarter growth and profitability to face pressure from Civil contract roll-offs and the end of some higher-margin programs. It anticipates backloaded investment spending while maintaining a cautious view of the government funding and award environment.

Currently, Booz Allen carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recent Earnings SnapshotsWaste Connections, Inc. (WCN - Free Report) reported impressive second-quarter 2026 results. WCN’s adjusted earnings of $1.50 per share outpaced the consensus mark by 11.1% and rose 16.3% from the year-ago quarter. WCN’s total revenues of $2.56 billion surpassed the consensus mark by 1.1% and increased 6.4% year over year.

Rollins, Inc. (ROL - Free Report) posted unimpressive second-quarter 2026 results. ROL’s adjusted earnings of 32 cents per share missed the Zacks Consensus Estimate by 5.9% but rose 6.7% year over year. Total revenues of $1.08 billion fell short of the consensus estimate by 1.7% but increased 7.9% from the year-ago quarter.

Prime Video becomes exclusive long-term home of regular-season Wednesday Night Hockey in Canada and select early round Stanley Cup Playoff series in English and French July 28, 2026 12:00 ET  | Source: Rogers Communications Canada Inc.

TORONTO, July 28, 2026 (GLOBE NEWSWIRE) -- Prime Video and Rogers Communications today announced a 12-year agreement for Prime Video in Canada to exclusively broadcast Wednesday night regular-season national NHL games in English and French, beginning with the 2026-2027 season.

Prime Video also acquires exclusive rights to select Stanley Cup Playoff series in Canada, comprised of two First Round playoff series and one Second Round series per year. This full lineup includes at least 26 national regular-season NHL games, beginning on Wednesday, September 30, available only on Prime Video in Canada at no additional cost to Prime members.

“Our partnership with Prime Video builds on the strong foundation we have established together and reinforces NHL hockey as the most valuable sports content in Canada,” said Tony Staffieri, President and CEO, Rogers. “As Canada’s home of hockey, Rogers is committed to connecting more fans to more NHL hockey and delivering more national games with fewer blackouts on Sportsnet, Canada’s #1 sports media brand.” 

"We're thrilled to expand our partnership with the NHL and Rogers in this landmark agreement, which brings even more premium live sports to Prime members in Canada," said Jay Marine, Head of Global Sports, Prime Video. "When combined with our hit original series, blockbuster movies, and fast, free shipping on millions of items, the Prime membership is more valuable than ever for Canadian customers."

"Over the past two years, Prime Video has been a valuable addition to the NHL's media lineup in Canada, joining Rogers in bringing marquee NHL games to Canadian fans," said Gary Bettman, Commissioner, NHL. "We're excited that Prime Video and Rogers are deepening their relationship through this long-term agreement, reflecting our shared commitment to serving English and French-language hockey fans across Canada with premium NHL content for years to come."

NHL on Prime will continue to deliver world-class production and innovation with an on-air team that delivers in-depth analysis and play-by-play coverage. More information about NHL on Prime, including talent and production details, will be announced at a later date.

Sportsnet, Canada’s #1 sports media brand, owns exclusive English-language rights to more than 500 national NHL games per season, including Monday and Saturday nights, as well as the Stanley Cup Playoffs, with the exception of the select series sublicensed to Prime Video. Sportsnet will deliver more national games and fewer blackouts to hockey fans.

Last year, Rogers and the NHL announced a 12-year agreement for the national media rights to NHL games on all platforms in Canada, from the 2026-27 through the 2037-38 seasons. 

About Rogers Communications Inc.
Rogers is Canada’s communications, sports and entertainment company, and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). For more information, please visit rogers.com or investors.rogers.com.

   About Prime Video Sports
Prime Video supports a growing lineup of live sports, including NBA, WNBA and the Skins Game globally, Thursday Night Football, the Masters Tournament, NASCAR, the New York Yankees, Duke Men’s Basketball and Seattle Kraken in the United States; Premier Boxing Champions in the United States, United Kingdom and Canada; the NWSL and ONE Championship in the United States and Canada; NHL on Prime and PWHL in Canada; UEFA Champions League football in Germany, Italy, the United Kingdom, and Ireland; Roland-Garros in France; Wimbledon in Germany and Austria; Premier League in Sweden, Denmark and the Netherlands; ICC Cricket in Australia; Copa do Brasil football and Campeonato Brasileiro Série A in Brazil; MLB and live boxing in Japan; and Chivas soccer in Mexico. While availability varies by marketplace, fans can also subscribe to other streaming services including FanDuel Sports Network, Eurosport, FOX Sports (Mexico), Sportsnet (Canada), Paramount+, FOX One, Peacock, Viaplay Sport, MLB.TV, NBA League Pass, NBA TV, DAZN, and Premiere FC (Brazil) through Prime Video add-on subscriptions. This is in addition to a selection of Amazon Original documentaries including Kelce, Bye Bye Barry, and Earnhardt.

Media Contacts:
Rogers, [email protected]
Catrina Jaricot, Prime Video, [email protected]
Nirva Milord, NHL, [email protected]  

Key Takeaways Apple Q3 earnings will test whether its capital-light AI strategy can keep driving gains. iPhone demand, Services growth and AI commentary will be the key earnings catalysts. ETFs like GXPT, FTEC, TOPT and TRUT offer diversified exposure to Apple. Apple Inc. AAPL is set to report fiscal third-quarter 2026 results on July 30, marking Tim Cook's final earnings call as CEO before John Ternus takes over on Sept. 1, 2026. The leadership transition adds significance to an earnings report that is already drawing intense investor attention.

High Expectations Ahead of ResultsThe Zacks Consensus Estimate for Apple’s upcoming quarter’s EPS and revenue is $1.88 and $108.8 billion, marking year-over-year EPS and revenue growth of 19.75% and 15.64%, respectively.

Shares have climbed more than 20% year to date, trading near record highs. Apple shares (up 19.6%) topped the Nasdaq-100 based ETF QQQ (down 5.8%) over the past month (as of July 27, 2026). Roundhill Magnificent Seven ETF (MAGS - Free Report) also has dipped 0.8% over the past month.

Inside Our Surprise PredictionAccording to our methodology, a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) when combined with a positive Earnings ESP, increases the chances of an earnings beat, while companies with a Zacks Rank #4 or 5 (Sell rated) are best avoided. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Apple has a Zacks Rank #3 and an ESP of 2.46%. Note that Apple has exceeded the Zacks Consensus Estimate for earnings in each of the trailing four quarters, with an average surprise of 7.34%.

Disciplined AI Strategy in FocusUnlike cloud giants spending aggressively on AI infrastructure, Apple has maintained a capital-light AI strategy. Apple plans to spend $14 billion on capital expenditures in 2026, while Amazon, Microsoft, Meta and Alphabet plan to spend a combined $650 billion, per a source.

Investors have probably rewarded this disciplined approach lately as concerns over AI spending have pressured peers like Alphabet, Microsoft, Meta and Amazon. Note that Apple's AI strategy focuses on partnerships and third-party technologies rather than investing heavily in proprietary AI infrastructure.

Key Metrics to WatchBeyond AI, investors will closely monitor iPhone demand and Services revenue, Apple's fastest-growing and highest-margin business.

In late June, Apple announced price hikes for MacBooks and iPads, marking its first move to pass higher memory and storage costs on to consumers. The AI push gives Apple another reason to emphasize higher-memory configurations.

IDC expects all new iPhone models to feature 12GB of RAM, as advanced on-device AI features require more memory, according to CNBC. Apple said it has reached a point where price increases on more products have become necessary, signaling further hikes ahead, as quoted on CNBC.

Tarun Pathak, research director at Counterpoint Research, estimated at the time that higher component costs could add roughly $200 per iPhone for Apple, according to the same CNBC source.

Demand for iPhones remains healthy despite supply constraints. Management expects June-quarter revenue growth of 14% to 17% year over year. In the June quarter of 2025, iPhone revenue was $44.6 billion.

This means the company is expected to generate $50.8-$52.2 billion in iPhone sales. Meanwhile, the Services segment is projected to remain a major growth driver, supported by Apple Intelligence and subscription offerings.

Any Wall of Worry?Skeptics argue that Apple's premium valuation—nearly 40 times trailing earnings—sets a very high bar. Any weakness in iPhone demand, softer guidance or signs of slowing growth could trigger profit-taking, even if quarterly results meet expectations. Among the Magnificent Seven stocks, Apple has the highest P/E ratio.

Price TargetBased on short-term price targets offered by 39 analysts, the average price target for Apple comes to $320.61. The forecasts range from a low of $235.00 to a high of $400.00. The average price target represents a decline of 4.8% from the last closing price of $336.91.

Apple-Heavy ETFs in FocusAgainst this backdrop, investors can play Apple through a diversified ETF approach to minimize company-specific concentration risks. This approach allows investors to benefit from any potential rally in Apple shares.

Global X PureCap MSCI Information Technology ETF (GXPT - Free Report) – Apple weight 18.20%

Fidelity MSCI Information Technology Index ETF (FTEC - Free Report) – Apple weight 15.4%

iShares Top 20 U.S. Stocks ETF (TOPT - Free Report) – Apple weight 14.0%

VanEck Technology TruSector ETF (TRUT - Free Report) – weight 13.6%

By PYMNTS  |  July 28, 2026

 | 

Apple is reportedly preparing a major push into the smart home product/software market.

That’s according to a Tuesday (July 28) report from Bloomberg News, which also noted — in a separate article — a key milestone for the iPhone maker: it is now the second company ever whose market capitalization has reached $5 trillion.

Apple plans to launch this effort soon with a hub device designed around the new Siri AI assistant, the report said, citing sources with knowledge of the matter. Those sources said the company is also readying a new TV set-top box and refreshed HomePod mini, which could come between October and early 2027.

Bloomberg notes that these moves will put Apple in closer competition with products like Amazon’s Echo Show and Google’s Nest Hub as the smart home market is reconfigured around artificial intelligence (AI) advances.

Apple debuted the long-awaited Siri AI in June, showcasing an artificial intelligence-powered personal assistant it says can answer questions from the web and surface relevant information from the user’s messages, emails and photos.

“With access to broad world knowledge for up-to-date answers on virtually any topic, along with onscreen awareness and personal context understanding, Siri AI can help users take action across apps more naturally than ever,” Craig Federighi, senior vice president of software engineering at Apple, said in a news release.

As PYMNTS wrote at the time, investors seemed unimpressed with the news, with Apple’s stock dipping about 5% from its afternoon peak, finishing down almost 2% for the day.

The Bloomberg report added that Apple has thus far had trouble deriving revenue from home products, with its eight-year-old HomePod smart speaker and almost two decades old Apple TV set-top box enjoying only modest sales. Most of the company’s wearables, home and accessories division revenue comes from AirPods and Apple Watches.

Meanwhile, Apple achieved a $5 trillion market capitalization Tuesday morning, though that number had dipped below that figure within two hours of Bloomberg’s report. It was the second company ever to achieve that goal after Nvidia, which closed at a record $5.7 trillion in May.

However, the chipmaker has since shed around $1 trillion in valuation, the Bloomberg report said, with Apple now the largest company in the S&P 500 Index.

Meta Platforms META shares are inching lower heading into the company’s fiscal Q2 results set to be posted after the market close on Wednesday, July 29th.

Consensus is for the tech behemoth to record $60.2 billion in revenue on $7.18 a share of earnings, which would represent roughly no change in bottom-line on a year-over-year basis.  

Still, the derivatives market seems to believe Meta stock will recover some of its recent loss after the quarterly print tomorrow.

As of writing, the put-to-call ratio on options contracts expiring July 31st sits at 0.66, indicating a bullish skew, with the upper price set at nearly $636 signaling potential for a 7% rally through the end of this week.

Interestingly, between the current and options-implied price are META’s major moving averages – which means a positive reaction to the Q2 release could receive an additional boost from technical momentum.

Note that META shares have a history of closing July with a nearly 5% gain on average, a seasonal pattern that reinforces the bull case for the near-term.

Investors should note, however, that it will ultimately be Meta Platforms’ updated capex guidance that will determine the near-term trajectory for its stock price.

Management has already raised its full-year outlook for capital expenditures, currently set at $125 billion at least, and Wall Street will be watching closely for any further upward revisions.

Crucially, the multinational isn’t suffering from a lack of monetization – AI-driven targeting tools continue to deliver tangible returns by boosting ad pricing power and user engagement.

However, the broader market narrative has turned relentlessly hostile toward growing infrastructure budgets.

In a tape where investors have repeatedly penalized tech mega-caps for swelling AI outlays, Meta must prove that its aggressive infrastructure investments are expanding margins rather than simply eroding free cash flow.

Any weakness on that front would likely trigger a near-term sell-off in Meta shares.

From a valuation perspective, META stock is one of the more attractive artificial intelligence (AI) beneficiaries, with a forward price-to-earnings (P/E) multiple of about 20x.

That said, executives have predominantly sold shares this year, and while they may have legitimate reasons (diversification and personal financial planning) for selling, the optics of the activity sure are less than ideal for investors.

On the flip side, however, Wall Street hasn’t thrown in the towel on Meta Platforms heading into its Q2 earnings release.

According to The Wall Street Journal, the consensus rating on META remains at “Buy” – with the mean price target of $822 indicating potential for a more than 35% rally over the next 12 months.

A small 0.35% dividend yield makes the hyperscaler even more attractive to own at current levels.

The Coca-Cola Company (KO) Q2 2026 Earnings Call July 28, 2026 8:30 AM EDT

Company Participants

Todd Beiger - VP & Head of Investor Relations
Henrique Braun - CEO & Director
John Murphy - President & CFO

Conference Call Participants

Lauren Lieberman - Barclays Bank PLC, Research Division
Dara Mohsenian - Morgan Stanley, Research Division
Stephen Robert Powers - Deutsche Bank AG, Research Division
Christopher Carey - Wells Fargo Securities, LLC, Research Division
Filippo Falorni - Citigroup Inc., Research Division
Robert Ottenstein - Evercore ISI Institutional Equities, Research Division
Peter Galbo - BofA Securities, Research Division
Peter Grom - UBS Investment Bank, Research Division
Andrea Teixeira - JPMorgan Chase & Co, Research Division
Kaumil Gajrawala - Jefferies LLC, Research Division
Bonnie Herzog - Goldman Sachs Group, Inc., Research Division

Presentation

Operator

At this time, I'd like to welcome everyone to the Coca-Cola Company's Second Quarter 2026 Earnings Results Conference Call. Today's call is being recorded. If you have any objections, please disconnect at this time. [Operator Instructions] I would like to remind everyone that the purpose of this conference is to talk with investors, and therefore, questions from the media will not be addressed. Media participants should contact Coca-Cola's Media Relations department if they have any questions.

I would now like to introduce Todd Beiger, Vice President and Head of Investor Relations. Mr. Beiger, you may now begin.

Todd Beiger
VP & Head of Investor Relations

Good morning, and thank you for joining us. I'm here with Henrique Braun, our Chief Executive Officer; and John Murphy, our President and Chief Financial Officer. We've posted schedules under Financial Information in the Investors section of our company website. These reconcile certain non-GAAP financial measures that may be referred to this morning to results as reported under generally accepted accounting principles. You can also find schedules in the same section of our website that provide an analysis of our gross and

Nvidia shares traded little changed on Tuesday after recovering from early losses, although the stock remained below the psychologically important $200 level.

Investors looked to balance an increasingly attractive valuation against concerns over artificial intelligence financing and upcoming Big Tech earnings.

The stock had fallen sharply in the previous session, losing 5% and surrendering its position as the world's most valuable listed company to Apple.

Despite the recent weakness, Nvidia's valuation has become increasingly attractive.

The stock closed Monday on a forward price-to-earnings ratio of 18.16, its lowest level since April 2015, according to Dow Jones Market Data.

Monday's decline came amid a broader selloff in semiconductor stocks following reports that a Chinese company had begun mass-producing key chipmaking equipment.

Investor sentiment was also weighed down by a Wall Street Journal report that Nvidia is discussing a roughly $250 billion financing guarantee for OpenAI to support a large data centre project in Ohio.

The arrangement would help OpenAI secure more favourable financing terms while supporting long-term demand for Nvidia's artificial intelligence chips.

The report sparked concerns among some investors that financing arrangements between Nvidia and AI customers could resemble the circular investment structures seen during the dotcom era.

Morningstar said it does not believe the reported financing discussions undermine the long-term investment case for Nvidia.

The research firm maintained its $280 fair value estimate for the company and said the shares remain undervalued despite concerns surrounding financing-backed AI infrastructure projects.

The target represents an around 40% upside from the current market price.

Morningstar said demand for artificial intelligence computing continues to expand rapidly, with AI hosting providers remaining constrained by available computing capacity rather than customer demand.

The firm also pointed to AMD's recent increase in its server CPU market forecast as evidence that demand for agentic AI continues to strengthen, supporting the need for additional AI infrastructure over the coming years.

Morningstar said its understanding is that Nvidia already provides financing backstops to some cloud infrastructure providers in exchange for sharing portions of future AI hosting revenue.

According to the firm, a similar arrangement with OpenAI would represent a much larger transaction but would remain consistent with Nvidia's broader strategy of expanding the AI ecosystem and supporting long-term demand for its hardware.

Investor attention has now shifted to quarterly results from major technology companies, which are expected to provide fresh insight into the pace of artificial intelligence investment.

Microsoft, Meta Platforms, and Amazon are scheduled to report earnings this week, with investors expected to closely monitor capital expenditure guidance as an indicator of future demand for Nvidia's processors.

Beyond overall spending levels, investors will also look for commentary on the types of AI hardware companies intend to deploy.

Several large technology companies have increasingly developed custom processors with partners such as Broadcom for specific workloads.

While those chips are designed to complement rather than fully replace Nvidia's graphics processing units, investors continue to monitor whether greater adoption of custom silicon could gradually reduce reliance on third-party suppliers.

Key Takeaways AAL trades below historical and sub-industry sales multiples, supporting its undervaluation case. American Airlines posted record Q2 revenue, led by premium, corporate and loyalty demand growth. AAL faces fuel-cost pressure, weak margins and high debt despite stronger cash flow and liquidity. American Airlines (AAL - Free Report) offers a mixed investment setup: a depressed sales multiple, a $17 price target and improving revenue quality, offset by fuel volatility, weak margins and a leveraged balance sheet.

The stock’s recovery case depends on whether commercial momentum can translate into steadier earnings. That remains uncertain, but AAL’s valuation gives investors a clear reason to keep watching the shares.

Why AAL’s Valuation Points to Potential UpsideAAL trades at 0.16 times forward 12-month sales, below its five-year median of 0.17 times and well under the sub-industry multiple of 0.54 times. That discount suggests the market is still assigning a heavy risk premium to the airline’s earnings volatility and balance-sheet constraints.

The $17 price target is based on 0.18 times forward sales. Compared with the report-date share price of $14.95, that implies potential upside, though the valuation case depends on AAL sustaining revenue growth while rebuilding margins.

American Airlines’ Earnings Recovery Faces Fuel PressureSecond-quarter adjusted earnings of 15 cents per share exceeded the consensus estimate of 3 cents. Operating revenues reached a record $16.74 billion, reflecting a strong rebound across cabins and geographies. 

The earnings quality was less convincing. Fuel expense surged 83.3%, pressuring profitability, while adjusted operating margin contracted to 2.7% from 8.2% a year earlier. That gap shows why revenue strength alone may not be enough if fuel remains volatile.

This was the third earnings beat by the company in the last four quarters. It missed the mark in the other quarter. The average beat is 97.6%.

How AAL’s Balance Sheet Shapes the Investment CaseAAL’s balance sheet remains a major constraint. The company carries $28.2 billion of long-term debt, a $4 billion stockholders’ deficit and a current ratio near 0.53, leaving limited room for operating shocks.

There are offsets. American ended the second quarter with $11.3 billion of available liquidity, and first-half operating cash flow improved to $4.69 billion from $3.42 billion a year earlier. Management also refinanced maturities and continued debt-repayment efforts, which helps reduce near-term financial pressure.

American Airlines’ Revenue Momentum Supports the ThesisManagement expects third-quarter revenue to increase 16%-19% on 3%-5% capacity growth. That spread points to pricing, mix and network gains rather than capacity alone.

Premium passenger unit revenue rose 13.4%, while managed corporate revenue increased 26% in the second quarter. AAdvantage enrollments grew more than 30%, and co-branded card spending rose 8%, supporting the view that loyalty and premium demand can improve revenue quality.

Still, full-year adjusted guidance ranging from a loss of 65 cents per share to a profit of 65 cents per share highlights limited visibility. United Airlines Holdings (UAL - Free Report) and Delta Air Lines (DAL - Free Report) remain relevant comparisons for investors assessing premium travel, corporate demand and fuel sensitivity across large U.S. carriers. 

How AAL’s Scores Balance Value Against Weak MomentumThe bottom line is that AAL looks inexpensive, but not without reason. Revenue momentum and a low sales multiple support the undervaluation argument, while fuel pressure, weak margins and leverage keep the risk-reward profile balanced.

The stock currently carries a Zacks Rank #3 (Hold), indicating a neutral short-term earnings-revision setup. Its Value Score of A and VGM Score of B support the valuation case, while the Growth Score of C and Momentum Score of F show that earnings visibility and price trends remain uneven. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 

DETROIT — Ford Motor is set to announce second-quarter results after the markets close Tuesday.

Here's what Wall Street expects, based on average analysts' estimates compiled by LSEG:

Earnings per share: 35 cents adjustedAutomotive revenue: $45.86 billionThose results would mark a 2.3% fall in automotive revenue compared with a year earlier and a 2 cent decline in adjusted earnings per share.

Ford's 2025 second-quarter results included $46.94 billion in automotive revenue, adjusted earnings before interest and taxes of $2.14 billion and a net loss of $36 million. Its total revenue, which includes its Ford Credit financing arm, was $50.18 billion.

Aside from earnings and any changes to the automaker's 2026 guidance, investors are monitoring Ford's costs, such as warranty and commodity costs, as well as looking for any updates to the company's F-Series truck production that has been hampered since last year due to issues with an aluminum supplier.

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Heading into Ford's earnings report, Jefferies upgraded Ford and General Motors' stocks to buy from hold. Analyst Philippe Houchois said Ford is on track to start building momentum again, with the second quarter set to mark a trough.

"We see Q2 as a low point for volume with post-Novelis production set to normalize up," Houchois wrote. Novelis, an aluminum supplier, restarted production last month at a New York facility — a plant that supplies Ford's F-150 truck line — after two fires halted activity. "With US market conditions healthy, management could raise guidance at Q2."

Ford's 2026 guidance, which the company increased in April with expected tariff refunds, includes adjusted EBIT of $8.5 billion to $10.5 billion; adjusted free cash flow of between $5 billion and $6 billion; and capital expenditures of $9.5 billion to $10.5 billion.

This is breaking news. Please check back for updates.

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

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on August 4. 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 world's biggest hamburger chain is expected to post quarterly earnings of $3.32 per share in its upcoming report, which represents a year-over-year change of +4.1%.

Revenues are expected to be $7.14 billion, up 4.3% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.53% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

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

Price, Consensus and EPS Surprise

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

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

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

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

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

How Have the Numbers Shaped Up for McDonald's?For McDonald's, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -0.52%.

On the other hand, the stock currently carries a Zacks Rank of #4.

So, this combination makes it difficult to conclusively predict that McDonald's will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. 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 McDonald's would post earnings of $2.74 per share when it actually produced earnings of $2.83, delivering a surprise of +3.28%.

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.

McDonald's 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 PlayerAnother stock from the Zacks Retail - Restaurants industry, Yum Brands (YUM - Free Report) , is soon expected to post earnings of $1.59 per share for the quarter ended June 2026. This estimate indicates a year-over-year change of +10.4%. Revenues for the quarter are expected to be $2.18 billion, up 12.8% from the year-ago quarter.

The consensus EPS estimate for Yum has been revised 0.6% higher over the last 30 days to the current level. However, a lower Most Accurate Estimate has resulted in an Earnings ESP of -0.63%.

When combined with a Zacks Rank of #3 (Hold), this Earnings ESP makes it difficult to conclusively predict that Yum will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates two times.

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

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Hilton Worldwide Holdings Inc. (HLT - Free Report) reported $3.34 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 6.5%. EPS of $2.29 for the same period compares to $2.20 a year ago.

The reported revenue represents a surprise of -0.62% over the Zacks Consensus Estimate of $3.36 billion. With the consensus EPS estimate being $2.29, the company has not delivered EPS surprise.

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

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

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

Property Summary - Total - Rooms - Total system: 1,384,842 compared to the 1,385,603 average estimate based on three analysts.RevPAR - System-wide: $125.02 versus $125.13 estimated by three analysts on average.RevPAR Growth - System-wide: 3.9% versus 3.2% estimated by three analysts on average.Property Summary - Managed - Rooms - Total system: 266,477 compared to the 266,636 average estimate based on three analysts.Property Summary - Franchised / Licensed - Rooms - Total system: 1,103,079 compared to the 1,104,035 average estimate based on three analysts.Property Summary - Ownership - Rooms - Total system: 15,286 versus the three-analyst average estimate of 14,932.Revenues- Ownership: $311 million versus the four-analyst average estimate of $334.62 million. The reported number represents a year-over-year change of -6.3%.Revenues- Franchise and licensing fees: $808 million versus the four-analyst average estimate of $815.06 million. The reported number represents a year-over-year change of +8.5%.Revenues- Incentive management fees: $69 million versus $72.27 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -8% change.Revenues- Other revenues: $72 million versus $82.23 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -6.5% change.Revenues- Base and other management fees: $99 million compared to the $105.24 million average estimate based on four analysts. The reported number represents a change of +2.1% year over year.Revenues- Cost reimbursement revenues: $1.98 billion compared to the $1.93 billion average estimate based on three analysts. The reported number represents a change of +9.4% year over year.View all Key Company Metrics for Hilton Worldwide here>>>

Shares of Hilton Worldwide have returned -0.5% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Published in earnings earnings-estimates-revisions earnings-surprise

Intel and AMD shares came under heavy selling pressure on Tuesday as investors reassessed the outlook for the semiconductor industry amid China's rapid advances in memory chips and artificial intelligence infrastructure.

Intel INTC stock fell about 6%, while AMD declined roughly 8%, extending a broader selloff across global semiconductor stocks.

The weakness followed sharp declines in Asian markets, where South Korea's Kospi dropped 10%, and Japan's Nikkei fell 4% as chipmakers came under pressure.

The latest pullback comes as investors grapple with rising competition from China, concerns over mounting AI infrastructure spending, and uncertainty ahead of earnings from major US technology companies.

A key catalyst behind the semiconductor selloff was the blockbuster market debut of Chinese memory-chip maker ChangXin Memory Technologies (CXMT).

The company raised 57.92 billion yuan ($8.6 billion) in its Shanghai initial public offering, making it Asia's largest listing of 2026.

Shares then surged 466% on their trading debut, pushing the company's market capitalization to roughly $487 billion and making it the most valuable company listed on mainland Chinese exchanges.

The strong debut highlighted growing optimism surrounding China's semiconductor ambitions and intensified concerns that domestic Chinese manufacturers could increasingly challenge established global memory suppliers.

Apple has reportedly begun testing CXMT memory chips for devices sold within China, while the company could gain additional customers if US restrictions on its products are eased.

Nomura analyst Donnie Teng expects further gains as AI demand accelerates.

“We expect CXMT’s market share gain to accelerate considering that the global supply of memory is unlikely to ease in the coming years.”

He added: “Strong demand for agentic AI will drive a more than sevenfold increase in global memory usage” by 2030.

Morningstar also said CXMT is well positioned to benefit from China's efforts to build a self-reliant semiconductor industry despite remaining behind global leaders technologically.

Investor sentiment has also weakened amid growing scrutiny over artificial intelligence spending by major technology companies.

A Wall Street Journal report that Nvidia could provide roughly $250 billion in financing support for OpenAI's planned data center project raised fresh questions about how aggressively semiconductor companies are investing in AI infrastructure and their own customers.

Intel, during its results, increased its capex outlook from $18 billion to $20 billion for 2026 and added that it would shoot further up for 2027.

The report came ahead of earnings from Microsoft, Meta Platforms, Amazon and Apple, with investors expected to closely examine whether massive AI investments are producing adequate returns.

Growing competition from China has added another layer of uncertainty after reports emerged that Chinese companies have begun producing advanced chipmaking equipment domestically.

Despite Tuesday's decline, AMD continued expanding its artificial intelligence infrastructure footprint.

The company announced an agreement with Core Scientific to secure access to as much as 2.5 gigawatts of AI-ready data center capacity.

The partnership initially provides AMD customers access to more than 500 megawatts of capacity beginning in 2027, with room for future expansion.

Core Scientific, which has increasingly shifted from cryptocurrency mining toward AI and high-performance computing infrastructure, will also collaborate with AMD on physical data center design as well as deployment of AMD chips and software.

Wall Street analysts remain largely optimistic on AMD despite the recent weakness.

Among 45 analysts covering the stock, the consensus rating is "Strong Buy," including 35 Strong Buy ratings, two Moderate Buys and eight Holds.

Mizuho analyst Vijay Rakesh recently reiterated a Buy rating while raising his price target to $625, implying approximately 26.3% upside from current levels.

For Intel, the Wall Street consensus is Moderate Buy, based on 11 Strong Buy ratings, one Moderate Buy, 31 Holds, and two Strong Sells among the 45 analysts covering the stock.

BetMGM said second-quarter revenue rose 3% year over year to $711 million as growth in iGaming offset pressure in sports betting and retail operations. The company, jointly owned by MGM Resorts International and Entain LON: ENT, reported adjusted EBITDA of $74 million for the quarter and $99 million for the first half of 2026.

Chief Executive Officer Adam Greenblatt said the quarter was “a little lighter than expected,” but characterized the results as continued progress toward profitable growth. First-half revenue totaled $1.4 billion, up 4% from a year earlier, while the company generated $77 million in adjusted EBITDA less capital expenditures, which it described as its best proxy for cash available to parents.

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Guidance Maintained, With Results Expected Near Low End BetMGM maintained its full-year outlook for revenue of $2.9 billion to $3.1 billion and adjusted EBITDA of $300 million to $350 million. However, Greenblatt said the company now expects to finish toward the lower end of both ranges because of market conditions following the second quarter.

The company cited heightened competition from both regulated operators and prediction-market platforms, as well as broader pressure on consumer discretionary spending. Greenblatt said the primary macro issue affecting online sports betting was prediction markets, though he also pointed to higher gas prices and challenges in separating the effects of different consumer pressures.

Despite those headwinds, BetMGM said it is preserving investment in its stronger markets while cutting back in lower-return sports-betting-only states. In particular, the company is focusing its marketing spending on multi-product states, where sports betting customers can be cross-sold into iGaming.

Greenblatt said more than 60% of sports bettors in those states cross-sell into gaming, and that BetMGM would continue to invest “full throttle” in both sports and gaming in those markets.

iGaming Growth Offsets Flat Online Sports Revenue iGaming revenue rose 8% year over year to $483 million in the quarter, supported by player-management improvements and engagement. Net gaming revenue per active player increased 7%, while active-player levels remained stable despite new competitors entering some markets.

Nearly 70% of BetMGM’s revenue comes from iGaming, Greenblatt said. The company highlighted exclusive game releases, including Game of Thrones titles in Ontario, as well as additions to the Rakin’ Bacon, Buffalo Triple Power and Money Gong franchises. It also introduced Elvis Presley: Viva Las Records and Marilyn Monroe Slingo.

Management said the iGaming environment remains highly competitive. Greenblatt said BetMGM’s iGaming customer-acquisition costs were more than 15% higher than a year earlier, partly reflecting new entrants in established markets such as Michigan. He also cited new know-your-customer requirements in Pennsylvania that add friction to player onboarding.

BetMGM launched in Alberta during the quarter and said early performance was encouraging. Nearly 10% of new Alberta players had an existing relationship with MGM, according to Greenblatt. The company did not include potential upside from Alberta in its guidance.

Sports Betting Strategy Prioritizes Value Over Volume Online sports betting revenue was flat year over year at $228 million. BetMGM reported that handle per active player grew 11% and net gaming revenue per active increased 9%, while average monthly active users declined as expected under the company’s more selective customer-acquisition strategy.

Greenblatt said BetMGM has reduced marketing spending in sports-only states and shifted resources toward customers and channels with more attractive returns. Promotions rose year over year, he said, because the company increased reinvestment in higher-value players during the World Cup while scaling back investment in less valuable portions of its customer base.

The World Cup generated three times as much betting handle as the 2022 tournament, according to Greenblatt. He said wagers on the United States-Belgium match exceeded those on any baseball or basketball playoff game and any World Series game. Management said it expects soccer to become a more significant betting category and believes the tournament helped sustain customer engagement through the summer ahead of football season.

Retail performance was weaker, however, as several high-stakes player wagers were successful at company-operated sportsbooks. Chief Financial Officer Gary Deutsch said retail generated “basically zero revenue net” during the second quarter, reflecting greater concentration among high-end VIP players as lower-staking customers migrate to digital channels. The company expects retail results to normalize over time.

Cost Measures Expected to Support Second-Half Profitability Management expects more than 100% profit flow-through in the second half as marketing reductions, normalized tax comparisons and cost initiatives take effect. Deutsch said initiatives span staffing, vendors and other direct costs. For the full year, BetMGM expects EBITDA flow-through of 70% or more, above its longer-term normalized expectation of roughly 40% to 45%.

BetMGM said it sees a path to more than $500 million in adjusted EBITDA from its existing footprint, based on anticipated gaming growth, cost discipline and normalized flow-through rates. However, Greenblatt said the target would likely be reached after 2027.

Looking ahead, management identified Virginia, Washington, D.C., and Indiana as states where future iGaming legalization could create additional opportunities. It also said restrictions on prediction-market activity could benefit licensed online sports-betting operators, with any benefit likely tied broadly to market share in affected states.

About Entain (LON:ENT)Entain plc LSE: ENT is a FTSE100 company and is one of the world's largest sports betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports brands include BetCity, bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds, Sportingbet, Sports Interaction, STS, SuperSport and TAB NZ; Gaming brands include Foxy Bingo, Gala, GiocoDigitale, Ninja Casino, Optibet, Partypoker and PartyCasino. The Group owns proprietary technology across all its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis. The Group has a 50/50 joint venture, BetMGM, a leader in sports betting and iGaming in the US.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on August 4. On the other hand, if they miss, the stock may move lower.

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

Zacks Consensus EstimateThis construction equipment company is expected to post quarterly earnings of $6.25 per share in its upcoming report, which represents a year-over-year change of +32.4%.

Revenues are expected to be $19.31 billion, up 16.6% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 1.19% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

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

Price, Consensus and EPS Surprise

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

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

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

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

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

How Have the Numbers Shaped Up for Caterpillar?For Caterpillar, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +4.96%.

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

So, this combination indicates that Caterpillar will most likely beat the consensus EPS estimate.

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

For the last reported quarter, it was expected that Caterpillar would post earnings of $4.55 per share when it actually produced earnings of $5.54, delivering a surprise of +21.76%.

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.

Caterpillar appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Expected Results of an Industry PlayerTerex (TEX - Free Report) , another stock in the Zacks Manufacturing - Construction and Mining industry, is expected to report earnings per share of $1.25 for the quarter ended June 2026. This estimate points to a year-over-year change of -16.1%. Revenues for the quarter are expected to be $2.14 billion, up 43.7% from the year-ago quarter.

The consensus EPS estimate for Terex has been revised 1.7% higher over the last 30 days to the current level. However, a higher Most Accurate Estimate has resulted in an Earnings ESP of +0.83%.

When combined with a Zacks Rank of #3 (Hold), this Earnings ESP indicates that Terex will most likely beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.

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

Key Takeaways First Solar enters Q2 with a 47.9-GW backlog worth $14.4 billion, providing revenue visibility through 2030.FSLR's U.S. manufacturing and domestic demand likely supported profitability in the to-be-reported quarter.FSLR may face margin pressure from lower factory utilization in Malaysia and Vietnam. First Solar (FSLR - Free Report) is scheduled to release second-quarter 2026 results on July 30, after market close. The company delivered an earnings surprise of 12.2% in the last reported quarter.

Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.

Factors Likely to Have Impacted FSLR’s Q2 PerformanceFirst Solar is likely to have continued benefiting from its U.S.-based manufacturing operations during the second quarter. With U.S. manufacturing facilities operating at roughly 96% utilization and the company continuing to prioritize domestic production, these incentives are expected to have remained a major earnings driver. Management also reaffirmed its second-quarter adjusted EBITDA guidance of $400-$500 million, reflecting confidence that these operational strengths will continue to support profitability.

Management highlighted record sales in India during the first quarter and noted that U.S. utility-scale demand remained healthy, supported by the company's differentiated CadTel technology, domestic manufacturing base and independence from Chinese supply chains. Ongoing trade enforcement measures, proposed Foreign Entity of Concern (FEOC) regulations and intellectual property litigation against TOPCon manufacturers are also expected to have strengthened First Solar's competitive positioning during the second quarter.

First Solar entered the to-be-reported quarter with a strong 47.9-gigawatt backlog worth $14.4 billion, providing solid revenue visibility through 2030. The company also maintained disciplined booking practices, helping preserve strong selling prices despite industry uncertainty.

One of the biggest headwinds during the quarter is expected to have been lower production levels at the company's manufacturing facilities in Malaysia and Vietnam. Management stated that these plants would have operated at lower utilization levels than in the first quarter, resulting in higher underutilization charges that would weigh on gross margins. Weak demand for internationally produced modules and uncertainty surrounding U.S. trade policy might have continued to limit production at these facilities.

Q2 Expectations for FSLRThe Zacks Consensus Estimate for earnings is pegged at $2.74 per share, indicating a year-over-year decrease of 13.8%.

The consensus estimate for revenues is pinned at $1.06 billion, implying a 3.3% decrease year over year.

The Zacks Consensus Estimate for Modules megawatt (MW) sold is pinned at 3,739.3 MW compared with 3,554 MW in the year-ago quarter.

What Our Quantitative Model PredictsOur proven model does not predict an earnings beat for First Solar this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here as you will see below.
 

Stocks to ConsiderInvestors may consider the following players from the same sector, as these have the right combination of elements to post an earnings beat this reporting cycle.

Nextpower Inc. (NXT - Free Report) is likely to come up with an earnings beat when it reports fiscal first-quarter results on July 30. It has an Earnings ESP of +12.08% and a Zacks Rank of 1 at present.

NXT’s long-term (three to five years) earnings growth rate is 13.44%. The Zacks Consensus Estimate for earnings is pinned at $1.04 per share, indicating a year-over-year decrease of 10.3%.

Energy Transfer (ET - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Aug. 4. It has an Earnings ESP of +26.17% and a Zacks Rank of 1 at present.

ET’s long-term earnings growth rate is 12.11%. The Zacks Consensus Estimate for earnings is pinned at 37 cents per unit, indicating a year-over-year increase of 15.6%.

Sempra (SRE - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Aug. 6. It has an Earnings ESP of +0.79% and a Zacks Rank of 3 at present.

SRE’s long-term earnings growth rate is 8.13%. The Zacks Consensus Estimate for earnings is pinned at $1.01 per share, indicating a year-over-year increase of 13.5%.