Track market-moving stories before they get noisy

-

WAYNE, Pa.--(BUSINESS WIRE)--Radian Group Inc. (NYSE: RDN) will host an Investor Day today, Thursday, June 4, 2026, beginning at 9 a.m. Eastern time in Midtown Manhattan, New York City.

During the event, Radian’s executive leadership team will discuss the company’s long-term strategy for value creation as a global multi-line specialty insurer, outlining how the company’s strong financial foundation, complementary insurance businesses, and disciplined capital management are expected to drive continued growth across market cycles. The event will include an overview of Radian’s mortgage insurance business as well as an in-depth look at its Inigo specialty insurance business.

To learn more and to register to view the live broadcast, visit the company's Investor Day webpage at https://www.radian.com/RDNinvestorday26.

A replay of the webcast will be available at https://www.radian.com/for-investors/investor-events/investor-day-26 following the live broadcast, for a period of one year.

About Radian

Radian Group Inc. (NYSE: RDN) is a trusted, global multi-line specialty insurer that helps businesses navigate risk with confidence. Built on financial strength and disciplined risk management, Radian brings clarity to complex risk decisions through its proprietary view of risk and a global perspective. Visit radian.com to learn how our collaborative and customer-centric culture transforms risk into a world of opportunity.

More News From Radian Group Inc.

Back to Newsroom

It has been about a month since the last earnings report for Radian (RDN - Free Report) . Shares have lost about 10.7% in that time frame, underperforming the S&P 500.

But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Radian due for a breakout? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent catalysts for Radian Group Inc. before we dive into how investors and analysts have reacted as of late.

Radian Q1 Earnings & Revenues Top Estimates, Premiums Rise Y/Y

Radian Group Inc. reported first-quarter 2026 adjusted operating income of $1.27 per share, which beat the Zacks Consensus Estimate by 8.5%. The bottom line improved 28.3% year over year. Operating revenues increased 55.2% year over year to $475 million, driven by higher premiums earned and net investment income. The top line surpassed the Zacks Consensus Estimate by 57.2%.

The better-than-expected quarterly results benefited from higher premiums earned, solid investment income, growth in new insurance written and higher mortgage insurance in force. However, elevated expenses and higher primary loan defaults remained headwinds.

Q1 in DetailNet premiums earned were $403 million, up 72.2% year over year. Net investment income rose 14.8% year over year to $70 million, supported by higher short-term investment balances and maturities, partially offset by securities. MI's new insurance written increased 42% year over year to $13.5 billion.

Primary mortgage insurance in force rose 3% year over year to $282 billion, which beat the Zacks Consensus Estimate by 1.2%. Persistency — the percentage of mortgage insurance remaining in force after 12 months — was 81.3% as of March 31, 2025, down 110 basis points year over year.

Primary delinquent loans represented 2.51% of primary loans in default as of March 31, 2026, compared with 2.33% in the prior-year quarter. Total expenses soared 204.5% year over year to $292.7 million. The expense ratio improved 120 basis points year over year to 20%, reflecting enhanced operating leverage.

RDN’s Financial UpdateAs of March 31, 2026, Radian reported cash of $55.4 million, surged 123.3% from the 2025-end level. Total assets increased 31.2% to $10.7 billion from the 2025-end level.

Book value per share rose 10% year over year to $35.67. Shareholders’ equity increased 0.6% to $4.8 billion from the 2025-end level. Adjusted net operating return on equity was 14.7%, up 130 basis points year over year.

As of March 31, 2026, Radian Guaranty’s available assets under PMIERs totaled $5.4 billion, resulting in excess available assets of $1.6 billion.

RDN’s Capital Deployment & Dividend UpdateDuring the first quarter of 2026, the company repurchased 1.5 million shares of common stock for $50 million. In the first quarter, Radian paid a quarterly dividend of 25.5 cents per share, totaling approximately $35 million.

How Have Estimates Been Moving Since Then?Since the earnings release, investors have witnessed a upward trend in estimates review.

The consensus estimate has shifted 15% due to these changes.

VGM ScoresAt this time, Radian has a subpar Growth Score of D, however its Momentum Score is doing a lot better with an A. Following the exact same course, the stock was allocated a score of A on the value side, putting it in the top quintile for value investors.

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

OutlookEstimates have been trending upward for the stock, and the magnitude of this revision looks promising. Interestingly, Radian has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry PlayerRadian belongs to the Zacks Insurance - Multi line industry. Another stock from the same industry, CNO Financial (CNO - Free Report) , has gained 2.7% over the past month. More than a month has passed since the company reported results for the quarter ended March 2026.

CNO reported revenues of $1.05 billion in the last reported quarter, representing a year-over-year change of +4.1%. EPS of $1.29 for the same period compares with $0.79 a year ago.

For the current quarter, CNO is expected to post earnings of $0.99 per share, indicating a change of +13.8% from the year-ago quarter. The Zacks Consensus Estimate has changed -2% over the last 30 days.

CNO has a Zacks Rank #2 (Buy) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B.

Key Takeaways RDN trades at 0.96X forward price-to-book, below industry, sector and S&P 500 averages. The Inigo acquisition is expected to expand RDN into a global multi-line specialty insurer. Strong earnings growth forecasts, rising ROIC and a growing dividend support the investment case. Shares of Radian Group Inc. (RDN - Free Report) closed at $34.14 on June 11, near its 52-week high of $38.84. This proximity underscores investor confidence. It has the ingredients for further price appreciation.

Radian Group’s shares are trading at a discount compared with the Zacks Multi-line Insurance industry. Its forward price-to-book value of 0.96X is lower than the industry average of 2.54X, the Finance sector’s 4.38X and the Zacks S&P 500 composite’s 7.88X. The insurer has a Value Score of A.

The insurer has a market capitalization of $4.54 billion. The average volume of shares traded in the last three months was 1.32 million. The insurer’s earnings have a solid track record of beating estimates in each of the last four quarters, with an average of 10.68%.

Image Source: Zacks Investment Research

Shares of MGIC Investment Corporation (MTG - Free Report) , Assurant, Inc. (AIZ - Free Report) and Old Republic International Corporation (ORI - Free Report) are also trading at a discount to the industry average.

Shares of Radian Group have lost 5.2% in the year-to-date period compared with the industry’s decline of 3%.

Image Source: Zacks Investment Research

RDN’s Encouraging Growth ProjectionsThe Zacks Consensus Estimate for Radian Group’s 2026 earnings per share indicates a year-over-year increase of 16.2%. The consensus estimate for revenues is pegged at $2.21 billion, implying a year-over-year improvement of 81%.

The consensus estimate for 2027 earnings per share and revenues indicates an increase of 2.8% and 11.3%, respectively, from the corresponding 2026 estimates.

Average Target Price for RDN Suggests UpsideBased on short-term price targets offered by six analysts, the Zacks average price target is $43.17 per share. The average suggests a potential 24.3% upside from the last closing price.

Image Source: Zacks Investment Research

RDN’s Favorable Return on CapitalReturn on invested capital (ROIC) has been increasing over the last few quarters, while the company raised its capital investment over the same time frame. This reflects RDN’s efficiency in utilizing funds to generate income. ROIC in the trailing 12 months was 7%, better than the industry average of 2.19%.

Key Points to Note for RDNRadian Group’s heightened focus on the core business and services with higher growth potential ensures a predictable and recurring fee-based revenue stream.

New business, combined with increasing annual persistency, should drive continued growth of the insurance-in-force portfolio. Radian Group’s mortgage insurance portfolio creates a strong foundation for future earnings. RDN has been witnessing a declining pattern of claim filings. We expect paid claims to decline further, thus strengthening the balance sheet and improving its financial profile.

Radian Group completed its strategic acquisition of Inigo in February 2026. With this acquisition, Radian Group will expand from a leading U.S. private mortgage insurer into a global, diversified multi-line specialty insurer, significantly increasing its product expertise and capabilities and optimizing the deployment of the excess capital.

Radian Group projects mid-teens percentage growth in earnings per share and approximately a 200-basis point increase in return on equity in the first full year after the transaction is closed in early 2026. RDN also expects the deal to double its total annual revenues, providing flexibility to deploy capital across multiple insurance lines through various business cycles.

Radian Group has also agreed to divest Mortgage Conduit, Title and Real Estate Services businesses. With this divestiture, the insurer intends to simplify its operations and focus on the new insurance venture, a global multi-line specialty insurance business.

This mortgage insurer has been strengthening its capital position with capital contributions, reinsurance transactions and cash position. This helps Radian Group engage in wealth distribution via dividend hikes and share buybacks.

ConclusionImproving mortgage insurance portfolio, declining claims, a solid capital position and effective capital deployment should continue to favor mortgage insurers over the long term.

The 4.1% increase in quarterly dividend in the first quarter of 2025 marks the sixth consecutive year. RDN has increased the quarterly dividend, which has more than doubled over the past five years. The company’s current dividend yield of 2.9% betters the industry average of 2.3%, making it an attractive pick for yield-seeking investors.

Its solid growth projections as well as attractive valuations are other positives. Coupled with optimistic analyst sentiment and favorable ROIC, the time appears right for potential investors to bet on this Zacks Rank #2 (Buy) insurer. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

CACI International (CACI - Free Report) reported $2.35 billion in revenue for the quarter ended March 2026, representing a year-over-year increase of 8.5%. EPS of $7.27 for the same period compares to $6.23 a year ago.

The reported revenue represents a surprise of +0.21% over the Zacks Consensus Estimate of $2.35 billion. With the consensus EPS estimate being $6.90, the EPS surprise was +5.36%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

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 CACI International performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Total Revenue - Organic Growth (YOY): 6.8% versus the three-analyst average estimate of 7.4%.Revenues by Customer Group- Department of Defense: $1.3 billion compared to the $1.5 billion average estimate based on two analysts. The reported number represents a change of -21.6% year over year.Revenues by Expertise or Technology- Technology: $1.33 billion compared to the $1.38 billion average estimate based on two analysts. The reported number represents a change of +11.2% year over year.Revenues by Expertise or Technology- Expertise: $1.02 billion versus $1 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +5.2% change.Revenues by Customer Group- Federal Civilian Agencies: $373.58 million versus the two-analyst average estimate of $441.24 million. The reported number represents a year-over-year change of -13.4%.View all Key Company Metrics for CACI International here>>>

Shares of CACI International have returned -10.1% over the past month versus the Zacks S&P 500 composite's +8.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

CACI International Inc (CACI) Q3 2026 Earnings Call Transcript

RESTON, Va.--(BUSINESS WIRE)-- #LimitlessPotential--CACI International Inc (NYSE: CACI) announced today the appointment of Christopher Monoski as its new Executive Vice President, Manufacturing, further strengthening the company's ability to deliver secure, mission-critical technologies across defense, intelligence, and national security programs. Monoski will report directly to President and Chief Executive Officer John Mengucci and will serve as a key member of CACI's leadership team, responsible for building and.

CACI International Inc (CACI) Presents at Bank of America 33rd Annual Industrials, Transportation and Airlines Key Leaders Conference Transcript

RESTON, Va.--(BUSINESS WIRE)--CACI International Inc (NYSE: CACI) announced today it has been selected to move forward to Phase 3 of the Enterprise Space Terminal (EST) program as part of ongoing efforts with the U.S. Space Force’s Space Systems Command. This marks CACI’s latest significant advancement in its Optical Communications Terminal (OCT) portfolio, underscoring the company’s leadership in delivering innovative, resilient, and mission-ready capabilities in national security across all orbital domains.

CACI is driving the next generation of space communications and sensing.

Share “CACI’s progress as a prime contractor on the EST program demonstrates how we deliver innovation at mission speed,” said John Mengucci, CACI President and Chief Executive Officer. “With our history of delivering modular OCT systems, proven operational solutions, and expanded capabilities enhanced by the acquisition of ARKA, we are driving the next generation of space communications and sensing. By investing ahead of need, CACI strengthens our nation’s space security and resilience to ensure operational advantage years before requirements are defined.”

In November 2025 during Phase 2 of the EST program, CACI passed critical design review of its EST OCT solution for beyond LEO (bLEO) missions and in January 2026, CACI successfully completed interoperability testing of its EST hardware at the Massachusetts Institute of Technology’s Lincoln Labs (MIT-LL). During the interoperability testing, CACI successfully demonstrated mission critical performance relevant for all pointing, acquisition, and tracking (PAT) test cases to be used for bLEO missions. Furthermore, CACI demonstrated bi-directional operation with the MIT-LL standard reference modem.

During Phase 3 of the EST program, CACI will leverage its OCT solution and utilize its technologies to build a proto-flight terminal, undergo further interoperability and performance testing at MIT-LL, and deliver the terminal to the USSF for bLEO missions.

Additional Critical Space Contributions

CACI has designed, delivered, and deployed space technology across multiple orbital domains, including more than 50 OCTs in LEO. The company has also successfully transmitted data to earth from over 300 million miles away in deep space (Deep Space Optical Communications DSOC). CACI’s most recent accomplishment enabled the transmission of high-definition video and data transmission for the Artemis II moon mission.

“These milestones reflect CACI’s commitment to rapid technological development, integration across domains, and investment in next generation capabilities that meet operational needs in highly contested environments,” continued Mengucci.

About CACI

CACI International Inc (NYSE: CACI) is a national security company with 27,000 talented employees who are Ever Vigilant in expanding the limits of national security. We ensure our customers’ success by delivering differentiated technology and distinctive expertise to accelerate innovation, drive speed and efficiency, and rapidly anticipate and eliminate threats. Our culture drives our success and earns us recognition as a Fortune World's Most Admired Company. We are members of the Fortune 500™, the Russell 1000 Index, and the S&P MidCap 400 Index. For more information, visit us at caci.com.

There are statements made herein which do not address historical facts and therefore could be interpreted to be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. The factors that could cause actual results to differ materially from those anticipated include, but are not limited to, the risk factors set forth in CACI’s Annual Report on Form 10-K for the fiscal year ended June 30, 2025, and other such filings that CACI makes with the Securities and Exchange Commission from time to time. Any forward-looking statements should not be unduly relied upon and only speak as of the date hereof.

CACI International (CACI) is reaffirmed as a buy, driven by strong contract wins, robust top-line growth, and a defense-friendly federal budget outlook. CACI's operating margins and cash flow trends are positive, with analyst consensus expecting EPS growth of +6% this year and +11% next year. Despite underperformance versus peers and a below investment-grade S&P rating, CACI's focus on cybersecurity and AI offers qualitative upside potential.

CACI International Inc (NYSE: CACI) announced today that Executive Vice President, Chief Financial Officer, and Treasurer Jeffrey MacLauchlan has been named Pu

CACI International Inc ([url="]NYSE: CACI[/url]) announced that Executive Vice President, Chief Financial Officer, and Treasurer [url="]Jeffrey MacLauchlan[/ur

CACI International Inc (CACI) Presents at 16th Annual Wells Fargo Industrials & Materials Conference Transcript

Key Takeaways ILMN Q1 EPS of $1.15 beat estimates by 9.7% and rose 18.6% year over year. Illumina revenues hit $1.09B, up 4.8%, with both segments posting growth.ILMN raised 2026 guidance, projecting up to $4.62B revenues and up to $5.30 EPS. Illumina Inc. (ILMN - Free Report) reported first-quarter 2026 adjusted earnings per share (EPS) of $1.15, which topped the Zacks Consensus Estimate by 9.7%. The figure was up 18.6% on a year-over-year basis.  

Including one-time items, the company’s GAAP EPS was 87 cents compared with 82 cents a year ago. 

Illumina’s RevenuesFirst-quarter revenues amounted to $1.09 billion, up 4.8% year over year and up 3.5% on a constant-currency basis. The top line beat the Zacks Consensus Estimate by 1.1%.

Following the earnings announcement, Illumina shares edged up 5.3% yesterday. 

Illumina’s Segmental DetailsIllumina generates revenues from two segments – Product, and Services and other. 

Product revenues totaled $917 million, up 4.2% year over year. Meanwhile, Services and other revenues amounted to $174 million, up 8.1% year over year. 

ILMN’s MarginsThe adjusted gross margin (including amortization of acquired intangible assets) was 66.1%, up 48 basis points (bps) year over year despite a 3.3% rise in the cost of revenues.

Research and development expenses decreased 4.8% year over year to $240 million. SG&A expenses totaled $272 million, up 1.9% from the year-ago level. Adjusted operating margin expanded 340 bps to 19.2%.

Illumina’s Financial UpdateIllumina exited the first quarter of 2026 with cash and cash equivalents of $1.09 billion compared with $1.42 billion at the end of the fourth quarter of 2025.

Cumulative net cash provided by operating activities totaled $289 million compared with $240 million a year ago.

Illumina’s 2026 GuidanceThe company expects total revenues to be in the range of $4.52-$4.62 billion (up from $4.50-$4.60 billion), suggesting growth of 4-6% on a reported basis. The Zacks Consensus Estimate for 2026 revenues is currently pinned at $4.53 billion.

Non-GAAP diluted EPS is projected to be in the range of $5.15-$5.30 (up from $5.05-$5.20) in 2026. The Zacks Consensus Estimate for full-year EPS is currently pegged at $5.12.

Illumina, Inc. Price, Consensus and EPS SurpriseOur Take on ILMNIllumina exited the first quarter of 2026 with better-than-expected results, wherein both earnings and revenues beat estimates. The company delivered a strong 2025 performance, marking a return to growth through disciplined execution. 

All the business segments reported growth in the quarter. Given the strong first-quarter performance, Illumina raised its full-year 2026 guidance. 

The expansion of both the margin looks encouraging. 

ILMN’s Zacks Rank & Key PicksIllumina currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the broader medical space are Globus Medical (GMED - Free Report) , Intuitive Surgical (ISRG - Free Report) and Phibro Animal Health (PAHC - Free Report) .

Globus Medical, currently sporting a Zacks Rank #1 (Strong Buy), reported a fourth-quarter 2025 adjusted EPS of $1.28, which surpassed the Zacks Consensus Estimate by 20.8%. Revenues of $826.4 million beat the Zacks Consensus Estimate by 4.9%. You can see the complete list of today’s Zacks #1 Rank stocks here.

GMED has an earnings yield of 4.7% compared to the industry’s negative yield of 1.4%. The company’s earnings beat estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 18.79%.

Intuitive Surgical, carrying a Zacks Rank #2 (Buy) at present, posted a first-quarter 2026 adjusted EPS of $2.50, which exceeded the Zacks Consensus Estimate by 20.2%. Revenues of $2.77 billion topped the Zacks Consensus Estimate by 6.2%.

ISRG has an earnings yield of 2.1% in contrast to the industry’s negative yield of 0.9%. The company’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 16.82%.

Phibro Animal Health, carrying a Zacks Rank #2 at present, posted a second-quarter fiscal 2026 adjusted EPS of 87 cents, which outpaced the Zacks Consensus Estimate by 27.01%. Revenues of $373.9 million outperformed the Zacks Consensus Estimate by 4.72%.

PAHC has an estimated long-term earnings growth rate of 21.5% compared with the industry’s 12.1% growth. The company’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 20.15%.

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.

The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.

It also includes access to the Zacks Style Scores.

What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.

Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.

Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.

How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.93% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.

That's where the Style Scores come in.

You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.

As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.

Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.

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

Stock to Watch: Illumina (ILMN - Free Report) San Diego, CA.-based Illumina Inc. provides sequencing and array-based solutions for genetic and genomic analysis. The products are used for applications in the life sciences, oncology, reproductive health, agriculture and other emerging segments. Its customers include leading genomic research centers, academic institutions, government laboratories, hospitals as well as pharmaceutical, biotechnology, commercial molecular diagnostic and consumer genomics companies.

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

Momentum investors should take note of this Medical stock. ILMN has a Momentum Style Score of B, and shares are up 10% over the past four weeks.

Five analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.02 to $5.18 per share. ILMN also boasts an average earnings surprise of +12.2%.

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

Key Takeaways ILMN is advancing its core sequencing strategy with growing clinical demand and NovaSeq X adoption.ILMN clinical consumables demand up 20% ex-China, supported by broader NGS adoption.ILMN faces China weakness and macro pressures despite margin and guidance improvements. Illumina Inc. (ILMN - Free Report) is making strong progress against its long-term strategy and targets, anchored by its roadmap of growing the core sequencing business, expanding multiomics, and building services, data and software capabilities. Continued momentum in clinical end markets supports sequencing consumables growth. The expanding NovaSeq X installed base and utilization are also highly promising. Yet, headwinds from China’s operations and macroeconomic pressures raise concerns for the company.

Over the past year, this Zacks Rank #3 (Hold) stock has surged 68.3%, well ahead of the industry’s16.3% growth and the S&P 500 composite’s rise of 29.5%.

The renowned biotechnology company has a market capitalization of $21.41 billion. ILMN’s earnings yield of 3.7% is well ahead of the industry’s -16.8% yield. In the trailing four quarters, it surpassed estimates on all occasions, delivering an average surprise of 12.2%. 

Let’s delve deeper.

Tailwinds Behind ILMN StockClinical Demand Remains the Key Driver: Illumina continues to benefit from the broader adoption of NGS-based testing, with clinical markets now representing the majority of sequencing consumables revenues in first-quarter 2026. Management cited continued adoption of sequencing-based diagnostics and growing use of sequencing-intensive tests, including comprehensive genomic profiling and whole genome sequencing, as drivers of higher sequencing intensity. Clinical sequencing consumables demand grew 20%, excluding China, for the second consecutive quarter. Management continues to expect most clinical volumes to transition to NovaSeq X by the end of 2026.

Image Source: Zacks Investment Research

Sharpened Focus on Core Genomics: Following the spin-off of GRAIL in June 2024, Illumina has continued to center its strategy on the core sequencing franchise while scaling into adjacent multiomics and data offerings. The company is aiming for high-single-digit revenue growth by 2027, along with double-digits to teens annual earnings per share (EPS) growth.

First-quarter 2026 results reinforced that direction, with revenues, margins and non-GAAP EPS exceeding guidance. Growth was recorded across all regions, excluding China. Management also raised full-year 2026 guidance, now expecting revenues in the range of $4.52-$4.62 billion and non-GAAP diluted EPS in the range of $5.15-$5.30, alongside a modest step-up in the non-GAAP operating margin outlook between 23.4% and 23.6%.

NovaSeq X Placements and Transition Progress: Illumina’s core sequencing business remains anchored by NovaSeq X. First-quarter 2026 placements exceeded 80 units, around 20 more than the prior-year quarter and above the company’s targeted quarterly range. Demand remains strong for the platform, especially with clinical. Transition progress also continued, with approximately 82% of volumes and 55% of revenues transitioned to NovaSeq X in the first quarter, and roughly 90% of research and applied volume now on the platform. This positioning reduces prior transition-related friction and should allow a cleaner revenue response when research activity normalizes.

What Ails ILMN?Setbacks in the China Market: Illumina continues to face constrained demand in Greater China amid ongoing regulatory and geopolitical uncertainty, keeping the region out of step with the rest of the business. In first-quarter 2026, Greater China revenues were $52 million, down 27.8% year over year. Management highlighted growth across all regions, excluding China and continues to frame core trends on a rest-of-world basis. This dynamic reduces the company’s ability to benefit from installed-base expansion and instrument placements in a large end market that historically supported both system demand and consumables pull-through.

Macroeconomic Pressures Remain a Concern: Illumina continues to operate in a higher-cost environment shaped by tariffs and supply-chain inflation, which can affect both demand and margins. Despite the first-quarter 2026 non-GAAP gross margin being up 80 bps year over year, management noted tariffs were still a partial offset to underlying cost efficiencies and revenue leverage. The second-quarter guidance calls for an operating margin of around 22%, partly reflecting near-term inflationary impacts tied to freight and higher electronic component costs.

ILMN Stock Estimate TrendThe Zacks Consensus Estimate for ILMN’s 2026 EPS has increased 1.2% to $5.18 in the past 30 days.

The Zacks Consensus Estimate for the company’s 2026 revenues is pegged at $4.56 billion. This suggests a 5.1% rise from the year-ago reported number.

Key PicksSome better-ranked stocks in the broader medical space are Globus Medical (GMED - Free Report) , Align Technology (ALGN - Free Report) and Phibro Animal Health (PAHC - Free Report) .

Globus Medical has an earnings yield of 6.1% compared to the industry’s negative 1.1% yield. Its earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 26.3%. GMED shares have rallied 29.7% against the industry’s 10.3% fall over the past year.

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

Align Technology, carrying a Zacks Rank #2 (Buy), has an estimated long-term earnings growth rate of 10.3% for fiscal 2026 compared with the industry’s 9.5% growth. Shares of the company have dropped 15% compared to the industry’s 1.8% growth. ALGN’s earnings outpaced estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 7.8%.

Phibro Animal Health, carrying a Zacks Rank #2, has an estimated long-term earnings growth rate of 21.5% compared with the industry’s 12.1%. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 16.3%. PAHC shares have rallied 45.8% against the industry’s 29.5% decline over the past year.

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.

Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.

It also includes access to the Zacks Style Scores.

What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.

Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.

Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.

Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.7% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.

That's where the Style Scores come in.

To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.

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

For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.

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

Stock to Watch: Illumina (ILMN - Free Report) San Diego, CA.-based Illumina Inc. provides sequencing and array-based solutions for genetic and genomic analysis. The products are used for applications in the life sciences, oncology, reproductive health, agriculture and other emerging segments. Its customers include leading genomic research centers, academic institutions, government laboratories, hospitals as well as pharmaceutical, biotechnology, commercial molecular diagnostic and consumer genomics companies.

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

Additionally, the company could be a top pick for growth investors. ILMN has a Growth Style Score of B, forecasting year-over-year earnings growth of 7% for the current fiscal year.

Six analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.04 to $5.18 per share. ILMN also boasts an average earnings surprise of +12.2%.

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

An advanced research workflow for fast, flexible detection of molecular residual disease during and following treatment

Solution is the first in a new WGS oncology portfolio, building on Illumina's history of leadership as foundation for MRD market

, /PRNewswire/ -- Illumina, Inc. (NASDAQ: ILMN) today announced a new complete solution for molecular residual disease (MRD) research based on whole-genome sequencing (WGS). As a distributed kit, it will enable more labs to adopt MRD detection for clinical research. Now in early access for select clinical research partners, the MRD solution is the first whole-genome kit with flexibility to enable solid tumor MRD and blood cancer genomic profiling. It is the first in a new portfolio of WGS oncology research offerings, with additional solutions in development leveraging the latest advancements of the NovaSeq X™.

As a distributed WGS solution for MRD research, this technology will enable tumor fingerprinting and ctDNA tracking faster and for more patients. "In precision healthcare, early and accurate detection of molecular residual disease is critical to monitoring patients during and after cancer treatment," said Todd Christian, senior vice president of Services, Arrays and Genomic Access at Illumina. "Illumina's MRD solution for clinical research leverages the advanced sensitivity of whole-genome sequencing, coupled with unparalleled analysis, to enable our customers to more easily deliver the most precise information to advance MRD research. We aim to make WGS in oncology more accessible and scalable to support the integration of precision solutions into the standard of care."

The MRD solution supports "fingerprinting" through solid tumor samples, and MRD detection using blood samples, all compatible on NovaSeq Systems. The end-to-end research workflow can be completed in as fast as 5 days and is optimized for analytical sensitivity as low as 10 ppm, particularly important for early-stage and low-shedding tumors, including breast, ovarian, and renal.

Illumina's first-of-its-kind DRAGEN™ MRD analysis connects each fingerprint to serial circulating tumor DNA (ctDNA), offering customers flexible workflow combinations to meet their specific needs. Leveraging DRAGEN's unparalleled speed and accuracy, the new MRD solution has been optimized across thousands of samples to develop and demonstrate a ctDNA detection algorithm with 99.5% analytical specificity to distinguish true tumor signals from background noise.

Early adopters see strong performance with Illumina's WGS oncology solution

Several academic institutes evaluated the workflow. Mayo Clinic evaluated the solutioni on a small sample cohort and found high concordance among previously characterized paired samples. The results were also highly correlated with clinical and imaging results over time. The team is planning to expand the cohort for additional research with Mayo Clinic and other academic partners.

"We are looking forward to participating in early access and evidence generation for a tumor-informed, non-bespoke whole-genome sequencing approach to MRD," said Gang Zheng, MD, PhD and professor of Laboratory Medicine and Pathology at Mayo Clinic. "We have seen early pilot results across several solid tumor clinical samples that demonstrated the potential utility of highly sensitive solid tumor MRD detection, and we continue to pilot technologies that help us efficiently progress in our ability to analyze and translate complex genomic arrays." 

Illumina and Bristol Myers Squibb will jointly present a poster at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting on Sunday, May 31, from 9:00 a.m. to 12:00 p.m. (abstract ID 8591, poster board #381, Lung Cancer: Non–Small Cell Metastatic track). More information can be found at this link. 

Roadmap to achieve ultra-sensitivity tailored for broader adoption

Built on recently announced NovaSeq X advancements, including 35B output and Q70 quality scores, a complementary research workflow that will deliver ultra-sensitive MRD detection in the single-digit ppm range leveraging duplex reads is currently in development.

"Illumina continues to push the NovaSeq X's capabilities to help our customers break barriers and unlock more discoveries," said Steve Barnard, PhD, chief technology officer of Illumina. "The new portfolio will bring advanced MRD research directly into labs with unmatched speed and sensitivity. The NovaSeq X is built for the long term, and Illumina will continue to deliver technologies that empower our customers to accelerate oncology breakthroughs."

Illumina technology also fuels centralized MRD providers leading the market today. The NovaSeq X offers foundational capabilities to support the quality, reliability, and scale needed as MRD adoption continues to grow. Illumina's new oncology portfolio builds upon the unique, integrated insight ecosystem of workflows, data and community across genomic, multiomic, and clinical research applications—anchored on the NovaSeq X.

Illumina's MRD research solution is available today for early access to select partners and will launch for global customers next year. Learn more here.  

Use of forward-looking statements
This release may contain forward-looking statements that involve risks and uncertainties. Among the important factors to which our business is subject that could cause actual results to differ materially from those in any forward-looking statements are: (i) iiour ability to successfully implement NovaSeq X updates on a cost-effective and timely basis, (ii) challenges inherent in developing and launching new products and services, including modifying and scaling manufacturing operations, and reliance on third-party suppliers for critical components; (iii) our ability to manufacture robust instrumentation and consumables and develop reliable software solutions; and (iv) the acceptance and adoption by customers of our newly launched or updated products, which may or may not meet our expectations and theirs, together with other factors detailed in our filings with the Securities and Exchange Commission, including our most recent filings on Forms 10-K and 10-Q, or in information disclosed in public conference calls, the date and time of which are released beforehand. We undertake no obligation and do not intend to update these forward-looking statements, to review or confirm analysts' expectations, or to provide interim reports or updates on the progress of the current quarter.

About Illumina
Illumina is improving human health by unlocking the power of the genome. Our focus on innovation has established us as a global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical, and applied markets. Our products are used for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments. To learn more, visit illumina.com and connect with us on X, Facebook, LinkedIn, Instagram, TikTok, and YouTube.

Contacts
Investors:
Illumina Investor Relations
858-291-6421
[email protected]

Media:
Christine Douglass
[email protected]

___________________

i As an early user, Mayo Clinic independently executed and evaluated the assay in their lab.

ii As of the Q4 financial disclosures, the NovaSeq X active install base was 890 at the end of FY2025.

SOURCE Illumina, Inc.

Key Takeaways ILMN gained 98.7% in a year, outperforming its industry and the broader S&P 500 Composite.ILMN exceeded Q1 2026 guidance as NovaSeq X placements topped 80 units and adoption advanced.ILMN saw 20% clinical sequencing consumables growth, excluding China, for the second quarter. Illumina (ILMN - Free Report) has been on a strong run over the past year, with its shares soaring 98.7%. The performance far exceeds the industry’s 15.9% gain and the S&P 500 Composite’s 31.3% rise.  

ILMN carries a Zacks Rank #3 (Hold) at present. Following the spin-off of GRAIL in June 2024, the company has centered its strategy on the core sequencing franchise while scaling into adjacent multiomics and data offerings. Broader adoption of NGS-based testing remains a tailwind for Illumina, particularly in the clinical end markets. Its liquidity position remains adequate to navigate near-term business volatility.

San Diego, CA.-based Illumina provides sequencing and array-based solutions for genetic and genomic analysis. The products are used for applications in the life sciences, oncology, reproductive health, agriculture and other emerging segments. Its customers include leading genomic research centers, academic institutions, government laboratories, hospitals, as well as pharmaceutical, biotechnology, commercial molecular diagnostic and consumer genomics companies. Outside the United States, Illumina has sales offices throughout Europe, the Asia-Pacific region and Brazil, as well as manufacturing and research facilities in Singapore and the United Kingdom.

Factors Fueling ILMN’s Price RallyThe rally in the company’s share price can be linked to its strong progress in executing its post-GRAIL spin-off strategic roadmap. Illumina remains focused on returning to durable growth and higher profitability, aiming for high-single-digit revenue growth by 2027, along with double-digits to teens annual earnings per share (EPS) growth, anchored by its roadmap of boosting the core sequencing business, expanding multiomics, and building services, data and software capabilities. First-quarter 2026 results reinforced that direction, with revenues, margins and adjusted EPS exceeding guidance. Growth was recorded across all regions, excluding China.

Image Source: Zacks Investment Research

The core sequencing business remains anchored by NovaSeq X. First-quarter 2026 placements exceeded 80 units, around 20 more than the prior-year quarter and above the company’s targeted quarterly range. Transition progress also continued, with approximately 82% of volumes and 55% of revenues transitioned to NovaSeq X in the quarter, and roughly 90% of research and applied volume now on the platform. 

Illumina continues to benefit from the broader adoption of NGS-based testing, with clinical markets now representing the majority of sequencing consumables revenues.  Management cited continued adoption of sequencing-based diagnostics and growing use of sequencing-intensive tests, including comprehensive genomic profiling and whole genome sequencing, as drivers of higher sequencing intensity. Clinical sequencing consumables demand grew 20%, excluding China, for the second consecutive quarter, and management continues to expect most clinical volumes to transition to NovaSeq X by the end of 2026. Illumina’s oncology menu continues to expand as customers scale sequencing in clinical decision-making and in new trials that require larger information sets. 

At the quarter-end, Illumina reported cash and cash equivalents of $1.09 billion, while current debt remained stable at $499 million. The company maintains adequate liquidity and coverage to fund operations and navigate near-term volatility without balance sheet strain.

What Ails ILMN?Illumina continues to operate in a higher-cost environment shaped by tariffs and supply-chain inflation, which can affect both demand and margins. The company also faces constrained demand in Greater China amid ongoing regulatory and geopolitical uncertainty, keeping the region out of step with the rest of the business.

A Glance at ILMN’s EstimatesThe Zacks Consensus Estimate for ILMN’s 2026 and 2027 EPS calls for growth of 7.1% and 13.6%, respectively. Over the past 60 days, the consensus mark for the company's 2026 EPS has edged up 0.8%. 

Revenues are projected to increase 5.1% in 2026 from the 2025 levels, followed by another 5.9% gain in 2027. 

Key PicksSome better-ranked stocks in the broader medical space are Globus Medical (GMED - Free Report) , Align Technology (ALGN - Free Report) and Integra LifeSciences (IART - Free Report) .

Globus Medical has an earnings yield of 6.1% compared to the industry’s negative 1.1% yield. Its earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 26.3%. GMED shares have rallied 31.1% against the industry’s 4.2% fall over the past year.

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

Align Technology, sporting a Zacks Rank #1, has an estimated long-term earnings growth rate of 10.3% for fiscal 2026 compared with the industry’s 9.5% growth. Shares of the company have dropped 7% compared to the industry’s 3% rise. ALGN’s earnings outpaced estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 7.8%.

Integra LifeSciences, carrying a Zacks Rank #2 (Buy), has an earnings yield of 15.7% against the industry’s negative 15.7% yield. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 16.7%. IART shares have rallied 20.1% against the industry’s 4.1% decline over the past year.

StrataMap Spatial gives researchers access to spatial biology at true single cell resolution for discovery without boundaries

Whole-transcriptome profiling across a large tissue capture area can generate 2x more unique genes per sample than probe-based technologies

, /PRNewswire/ -- Illumina, Inc. (NASDAQ: ILMN) today announced the launch of the StrataMap Spatial Solution, offering an unmatched breadth of coverage and resolution to redefine what researchers can detect with spatial transcriptomics. StrataMap Spatial, previously called the Illumina Spatial Solution, is an end-to-end sequencing-based research solution to uncover spatial insights. Spatial transcriptomics is already a critical tool in developmental biology, neuroscience, and oncology research. StrataMap Spatial expands researchers' ability to map tissue structure, reveal tissue function, track tumor progression, and identify novel drug targets for precision medicine.

StrataMap Spatial gives customers a spatial solution with a large, flexible capture area, single-cell resolution, and unbiased whole-transcriptome profiling. "Spatial biology offers a new perspective on how our genetic code manifests in our bodies," said Steve Barnard, PhD, chief technology officer of Illumina. "Our customers are already using StrataMap Spatial's unparalleled discovery power to map intricate tissues and study tumor development. This launch pairs our new spatial solution with our tailored bioinformatics pipeline, reinforcing Illumina's commitment to an insight ecosystem where data-at-scale becomes discovery without boundaries."

Highest sensitivity spatial technology provides comprehensive transcriptomic insights

StrataMap Spatial gives customers a spatial solution with a large, flexible capture area, single-cell resolution, and unbiased whole-transcriptome profiling. Together, these features allow customers to holistically evaluate spatial relationships across cells, regions, and structures, for a more detailed view of tissue architecture and function. StrataMap Spatial's sequencing-based approach detects twice as many genes per sample than alternative, panel-based technologies. The solution goes beyond the coding transcriptome to detect noncoding genes and pseudogenes, uncovering the hidden signals that drive tissue function and disease. StrataMap Spatial is compatible with enrichment techniques, including those researchers use to identify relevant immune response markers like VDJ clonotypes.

StrataMap Spatial meets the growing demand for scalable spatial biology studies from research and biopharma customers, through features such as:

Capture area: The 7.5 cm2 capture area accommodates serial sections for researchers to create a multidimensional understanding of tissues. Users can also profile multiple fresh frozen tissue sections of varying sizes and shapes simultaneously. The solution is species-agnostic and accommodates a broad range of eukaryotic tissue samples and tissue RNA quality. Illumina is actively developing an FFPE-specific solution and targets initial customer enablement in 2027. Scale: StrataMap Spatial can process more than 2000 samples per year. Speed: Multiple slides can be run in parallel, with library preparation and sequencing following traditional NGS methods. Sequencing takes as few as 22 hours. Including imaging, sequencing, and analysis, customers can move from sample to insight in less than 5 days. Accessibility: Instead of investing in expensive, specialized systems, customers can integrate StrataMap Spatial into their existing histopathology workflows. StrataMap Spatial then runs on the NovaSeq and NextSeq platforms, giving existing customers an accessible entry point into spatial biology. Spatial-specific software provides powerful, scalable multiomic analysis

StrataMap Spatial includes access to end-to-end bioinformatics that take customers from initial imaging through analysis. DRAGEN and Illumina Connected Multiomics efficiently process the large volume of resulting spatial data, maintaining the depth, resolution, and sensitivity produced by StrataMap Spatial. The DRAGEN StrataMap pipeline simplifies spatial exploration with machine-learning-driven cell segmentation, transcript assignment, and initial clustering. Illumina Connected Multiomics enables interactive, data‑driven spatial analysis by combining tissue‑level visualization with filtering, clustering refinement, and downstream biological interpretation. The platform enables the integration of transcriptomic data with genomic, epigenetic, and proteomic datasets. Layering these omics creates a more comprehensive understanding of the biological dynamics that shape human health.

Early work with StrataMap Spatial examines tumor microenvironments, charts development of complex tissues

In a pilot, researchers from Beth Israel Deaconess Medical Center (BIDMC) used StrataMap Spatial to map historically challenging lymphatic tissues and produced the first whole transcriptome spatial datasets for human lymphatic collector vessels. Dr. Ioannis Vlachos, PhD, director of the Spatial Technologies Unit within BIDMC, and his team reconstructed 3D models of tissue organization at cellular resolution from serial sections imaged on StrataMap Spatial.

"Illumina's StrataMap Spatial exhibited high sensitivity, which enabled us to shed light on these exceptionally challenging samples, said Dr. Vlachos, "StrataMap's large capture area permitted us to place multiple serial sections to establish whole transcriptome, single cell resolution, 3D maps of these exceptionally precious tissues and unlock novel biology."

Researchers at Cancer Research UK Cambridge Institute and University of Cambridge trialed StrataMap Spatial on an initial set of primary central nervous system tumors. The team was led by Richard Mair, PhD, a neurosurgeon at Addenbrooke's Hospital and a University of Cambridge scientist, in collaboration with the Spatial Profiling Annotation Centre of Excellence (SPACE) led by Dario Bressan, PhD. The team evaluated glioma and glioblastoma tissues to characterize their complex tumor microenvironment, with the ultimate goal of guiding more precise surgical interventions and personalized treatment choices.

"Until now, we were unable to study large tissue sections in CNS and other cancer types at a whole-transcriptome, single-cell level," said Ania Piskorz, PhD, the Head of Genomics at the Cancer Research UK Cambridge Institute and University of Cambridge. "Unlocking the ability to profile these large tissue sections will provide deeper insights into the tumour microenvironment. It will help us build more informative tumour maps, identify mechanisms of treatment resistance, and improve our ability to predict patient therapeutic responses."

Ania Piskorz is presenting the group's early work on June 10 at the European Association for Cancer Research meeting. You can also visit Illumina's booth at EACR from June 8-11 to learn how StrataMap Spatial can amplify your cancer research.

StrataMap Spatial is available to order this month.

You can read more about StrataMap Spatial here.

Use of forward-looking statements

This release may contain forward-looking statements that involve risks and uncertainties. Among the important factors to which our business is subject that could cause actual results to differ materially from those in any forward-looking statements are: (i) challenges inherent in developing and launching new products and services, including modifying and scaling manufacturing operations, and reliance on third-party suppliers for critical components; (ii) our ability to manufacture robust instrumentation and consumables and develop reliable software solutions; and (iii) the acceptance and adoption by customers of our newly launched or updated products, which may or may not meet our and their expectations, together with other factors detailed in our filings with the Securities and Exchange Commission, including our most recent filings on Forms 10-K and 10-Q, or in information disclosed in public conference calls, the date and time of which are released beforehand. We undertake no obligation, and do not intend, to update these forward-looking statements, to review or confirm analysts' expectations, or to provide interim reports or updates on the progress of the current quarter.

About Illumina
Illumina is improving human health by unlocking the power of the genome. Our focus on innovation has established us as a global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical, and applied markets. Our products are used for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments. To learn more, visit illumina.com and connect with us on X, Facebook, LinkedIn, Instagram, TikTok, and YouTube.

Contacts

Investors:
Illumina Investor Relations
858-291-6421
[email protected]

Media:
Christine Douglass
[email protected]

SOURCE Illumina, Inc.

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.

The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.

It also includes access to the Zacks Style Scores.

What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.

Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.

Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.

Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.

How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.7% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.

That's where the Style Scores come in.

You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.

As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.

Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.

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

Stock to Watch: Illumina (ILMN - Free Report) San Diego, CA.-based Illumina Inc. provides sequencing and array-based solutions for genetic and genomic analysis. The products are used for applications in the life sciences, oncology, reproductive health, agriculture and other emerging segments. Its customers include leading genomic research centers, academic institutions, government laboratories, hospitals as well as pharmaceutical, biotechnology, commercial molecular diagnostic and consumer genomics companies.

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

Additionally, the company could be a top pick for growth investors. ILMN has a Growth Style Score of B, forecasting year-over-year earnings growth of 7% for the current fiscal year.

For fiscal 2026, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.04 to $5.18 per share. ILMN boasts an average earnings surprise of +12.2%.

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

, /PRNewswire/ -- THOR Industries, Inc. (NYSE: THO) today announced that its Board of Directors approved, at its March 24, 2026, meeting, the payment of a regular quarterly cash dividend of $0.52 per share.

The regular cash dividend is payable on April 20, 2026, to shareholders of record at the close of business on April 6, 2026.

About THOR Industries, Inc.

THOR Industries is the sole owner of operating companies which, combined, represent the world's largest manufacturer of recreational vehicles. For more information on the Company and its products, please go to www.thorindustries.com.

Forward-Looking Statements

This release includes certain statements that are "forward-looking" statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made based on management's current expectations and beliefs regarding future and anticipated developments and their effects upon THOR, and inherently involve uncertainties and risks. These forward-looking statements are not a guarantee of future performance. We cannot assure you that actual results will not differ materially from our expectations. Factors which could cause materially different results include, among others: the impact of inflation on the cost of our products as well as on general consumer demand; the effect of raw material and commodity price fluctuations, including the impact of tariffs, and/or raw material, commodity or chassis supply constraints; the impact of war, military conflict, terrorism and/or cyber-attacks, including state-sponsored or ransom attacks; the impact of sudden or significant adverse changes in the cost and/or availability of energy or fuel, including those caused by geopolitical events, on our costs of operation, on raw material prices, on our suppliers, on our independent dealers or on retail customers; the dependence on a small group of suppliers for certain components used in production, including chassis; interest rates and interest rate fluctuations and their potential impact on the general economy and, specifically, on our independent dealers and consumers and our profitability; the ability to ramp production up or down quickly in response to rapid changes in demand or market share while also managing associated costs, including labor-related costs and production capacity costs; the level and magnitude of warranty and recall claims incurred; the ability of our suppliers to financially support any defects in their products; the financial health of our independent dealers and their ability to successfully manage through various economic conditions; legislative, trade, regulatory and tax law and/or policy developments including their potential impact on our independent dealers, retail customers or on our suppliers; the costs of compliance with governmental regulation; the impact of an adverse outcome or conclusion related to current or future litigation or regulatory audits or investigations; public perception of and the costs related to environmental, social and governance matters; legal and compliance issues including those that may arise in conjunction with recently completed transactions; the ability to realize anticipated benefits of strategic realignments or other reorganizational actions; the level of consumer confidence and the level of discretionary consumer spending; the impact of exchange rate fluctuations; restrictive lending practices which could negatively impact our independent dealers and/or retail consumers; management changes; the success of new and existing products and services; the ability to maintain strong brands and develop innovative products that meet consumer demands; changes in consumer preferences; the risks associated with acquisitions, including: the pace and successful closing of an acquisition, the integration and financial impact thereof, the level of achievement of anticipated operating synergies from acquisitions, the potential for unknown or understated liabilities related to acquisitions, the potential loss of existing customers of acquisitions and our ability to retain key management personnel of acquired companies; a shortage of necessary personnel for production and increasing labor costs and related employee benefits to attract and retain production personnel in times of high demand; the loss or reduction of sales to key independent dealers, and stocking level decisions of our independent dealers; disruption of the delivery of units to independent dealers or the disruption of delivery of raw materials, including chassis, to our facilities; increasing costs for freight and transportation; the ability to protect our information technology systems, including confidential and personal information, from data breaches, cyber-attacks and/or network disruptions; asset impairment charges; competition; the impact of losses under repurchase agreements; the impact of the strength of the U.S. dollar on international demand for products priced in U.S. dollars; general economic, market, public health and political conditions in the various countries in which our products are produced and/or sold; the impact of adverse weather conditions and/or weather-related events; the impact of changing emissions and other related climate change regulations in the various jurisdictions in which our products are produced, used and/or sold; changes to our investment and capital allocation strategies or other facets of our strategic plan; and changes in market liquidity conditions, credit ratings and other factors that may impact our access to future funding and the cost of debt.

These and other risks and uncertainties are discussed more fully in our Quarterly Report on Form 10-Q for the quarter ended January 31, 2026 and in Item 1A of our Annual Report on Form 10-K for the year ended July 31, 2025.

We disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this release or to reflect any change in our expectations after the date hereof or any change in events, conditions or circumstances on which any statement is based, except as required by law.

SOURCE Thor Industries, Inc.

It has been about a month since the last earnings report for Thor Industries (THO - Free Report) . Shares have lost about 14.3% in that time frame, underperforming the S&P 500.

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

THOR Q2 Earnings Surpass Expectations, Revenues Rise Y/YTHOR reported earnings of 4 cents per share for the second quarter of fiscal 2026 (ended Jan. 31), beating the Zacks Consensus Estimate of 3 cents. In the year-ago quarter, the company posted a loss of 1 cent per share.

THOR registered revenues of $2.13 billion for the fiscal second quarter, surpassing the Zacks Consensus Estimate of $1.98 billion. The top line increased 5.3% year over year.

Segmental ResultsNorth American Towable RVs: Segment revenues declined 14.2% year over year to $710.49 million due to a drop in unit shipments. The revenues missed our estimate of $719.2 million. Unit shipments in the quarter under review totaled 21,577, down from 28,013 units in the year-ago period.

Gross profit totaled $75.5 million, down 17.6% year over year due to higher material and overhead costs. Pretax income increased to $31.2 million from $28.2 million in the prior-year quarter, thanks to higher gains on asset sales. The unit’s backlog stood at $621.5 million at quarter-end, compared with $1.07 billion as of Jan. 31, 2025.

North American Motorized RVs: Segment revenues totaled $577.07 million, up 29.3% year over year, driven by an increase in unit shipments. The figure also surpassed our estimate of $465.9 million. Unit shipments totaled 4,524 compared with 3,526 reported a year ago.

Gross profit totaled $54.64 million, up 57.3% year over year, driven by volume leverage and lower labor costs. Pretax profit rose sharply to $20.9 million from the year-ago period. The segment’s backlog stood at $1.04 billion, down from $1.12 billion as of Jan. 31, 2025.

European RVs: Segment revenues totaled $684.47 million, up 11.8% year over year due to an increase in unit shipments. The figure also surpassed our estimate of $599.3. Unit shipments totaled 9,465 compared with 9,442 reported a year ago.

Gross profit totaled $75.1 million, down 7.2% year over year due to a greater share of lower-margin special-edition motorcaravans and higher warranty costs. The segment reported a pretax loss of $12.3 million compared with pretax income of $2.21 million in the year-ago period. The backlog stood at $1.83 billion, up from $1.64 billion as of Jan. 31, 2025.

FinancialsAs of Jan. 31, 2026, THOR had cash and cash equivalents of $242.2 million and long-term debt of $877.7 million.

Thor Provides 2026 GuidanceTHOR expects its fiscal 2026 consolidated net sales to be in the range of $9-$9.5 billion compared with $9.58 billion in fiscal 2025. EPS is expected to be in the range of $3.75-$4.25 compared with $4.84 in fiscal 2025.

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

The consensus estimate has shifted -8.2% due to these changes.

VGM ScoresCurrently, Thor Industries has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. However, the stock was allocated a score of B on the value side, putting it in the second quintile for value investors.

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

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Thor Industries has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

, /PRNewswire/ -- THOR Industries, Inc. (NYSE: THO) today announced that the date for its fiscal 2026 third quarter earnings release will be on Wednesday, June 3, 2026, before the market opens.

Upon the release of THOR's fiscal 2026 third quarter earnings, the Company will concurrently publish a copy of the earnings release, a comprehensive question and answer document and a slide presentation on the Company's website. To view the quarterly earnings documents, please go to http://ir.thorindustries.com/.

About THOR Industries, Inc.

THOR Industries is the sole owner of operating companies which, combined, represent the world's largest manufacturer of recreational vehicles. For more information on the Company and its products, please go to www.thorindustries.com.

Forward-Looking Statements

This release includes certain statements that are "forward-looking" statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made based on management's current expectations and beliefs regarding future and anticipated developments and their effects upon THOR, and inherently involve uncertainties and risks. These forward-looking statements are not a guarantee of future performance. We cannot assure you that actual results will not differ materially from our expectations. Factors which could cause materially different results include, among others: the impact of inflation on the cost of our products as well as on general consumer demand; the effect of raw material and commodity price fluctuations, including the impact of tariffs, and/or raw material, commodity or chassis supply constraints; the impact of war, military conflict, terrorism and/or cyber-attacks, including state-sponsored or ransom attacks; the impact of sudden or significant adverse changes in the cost and/or availability of energy or fuel, including those caused by geopolitical events, on our costs of operation, on raw material prices, on our suppliers, on our independent dealers or on retail customers; the dependence on a small group of suppliers for certain components used in production, including chassis; interest rates and interest rate fluctuations and their potential impact on the general economy and, specifically, on our independent dealers and consumers and our profitability; the ability to ramp production up or down quickly in response to rapid changes in demand or market share while also managing associated costs, including labor-related costs and production capacity costs; the level and magnitude of warranty and recall claims incurred; the ability of our suppliers to financially support any defects in their products; the financial health of our independent dealers and their ability to successfully manage through various economic conditions; legislative, trade, regulatory and tax law and/or policy developments including their potential impact on our independent dealers, retail customers or on our suppliers; the costs of compliance with governmental regulation; the impact of an adverse outcome or conclusion related to current or future litigation or regulatory audits or investigations; public perception of and the costs related to environmental, social and governance matters; legal and compliance issues including those that may arise in conjunction with recently completed transactions; the ability to realize anticipated benefits of strategic realignments or other reorganizational actions; the level of consumer confidence and the level of discretionary consumer spending; the impact of exchange rate fluctuations; restrictive lending practices which could negatively impact our independent dealers and/or retail consumers; management changes; the success of new and existing products and services; the ability to maintain strong brands and develop innovative products that meet consumer demands; changes in consumer preferences; the risks associated with acquisitions, including: the pace and successful closing of an acquisition, the integration and financial impact thereof, the level of achievement of anticipated operating synergies from acquisitions, the potential for unknown or understated liabilities related to acquisitions, the potential loss of existing customers of acquisitions and our ability to retain key management personnel of acquired companies; a shortage of necessary personnel for production and increasing labor costs and related employee benefits to attract and retain production personnel in times of high demand; the loss or reduction of sales to key independent dealers, and stocking level decisions of our independent dealers; disruption of the delivery of units to independent dealers or the disruption of delivery of raw materials, including chassis, to our facilities; increasing costs for freight and transportation; the ability to protect our information technology systems, including confidential and personal information, from data breaches, cyber-attacks and/or network disruptions; asset impairment charges; competition; the impact of losses under repurchase agreements; the impact of the strength of the U.S. dollar on international demand for products priced in U.S. dollars; general economic, market, public health and political conditions in the various countries in which our products are produced and/or sold; the impact of adverse weather conditions and/or weather-related events; the impact of changing emissions and other related climate change regulations in the various jurisdictions in which our products are produced, used and/or sold; changes to our investment and capital allocation strategies or other facets of our strategic plan; and changes in market liquidity conditions, credit ratings and other factors that may impact our access to future funding and the cost of debt.

These and other risks and uncertainties are discussed more fully in our Quarterly Report on Form 10-Q for the quarter ended January 31, 2026 and in Item 1A of our Annual Report on Form 10-K for the year ended July 31, 2025.

We disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this release or to reflect any change in our expectations after the date hereof or any change in events, conditions or circumstances on which any statement is based, except as required by law.

SOURCE Thor Industries, Inc.

What happenedAn SEC filing dated May 14, 2026, shows Timucuan Asset Management sold 47,996 shares of Thor Industries (THO +1.64%) during the first quarter. The estimated transaction value is $4.89 million based on the average closing price from January through March. The quarter-end value of the position decreased by $63.05 million, reflecting both trading activity and price movements.

What else to knowThis sale left Thor Industries at 7.5% of the fund's reportable AUM at the end of the quarter.

Top holdings after the filing:Charles Schwab: $277.15 million (10.2% of AUM)Installed Building Products: $219.24 million (8.1% of AUM)Somnigroup International: $217.45 million (8.0% of AUM)Analog Devices: $216.29 million (8.0% of AUM)Thor Industries: $203.84 million (7.5% of AUM)As of May 20, 2026, Thor Industries shares were trading at $74.76, down 9.7% over the past year and underperforming the S&P 500 by 34 percentage points.

Company overviewMetricValueRevenue (TTM)$9.93 billionNet income (TTM)$300.41 millionDividend yield2.78%Price (as of market close May 20, 2026)$74.76Company snapshotThor Industries:

Offers a broad portfolio of recreational vehicles (RVs), including travel trailers, motorhomes, fifth wheels, and related parts and accessories across North America and Europe.Generates revenue primarily through the design, manufacture, and sale of RVs and components, and distributes products through independent and non-franchise dealers.Serves outdoor enthusiasts, families, and travelers seeking mobile leisure solutions, with a customer base spanning the United States, Canada, and Europe.Thor Industries is a leading manufacturer in the recreational vehicle sector, operating at scale with diversified product lines and a global footprint. The company leverages a dealer-based distribution network to reach a broad customer base and sustain recurring revenue through both vehicle sales and aftermarket parts. Its strategic focus on product innovation and market expansion underpins a competitive position in the consumer cyclical industry.

What this transaction means for investorsTimucuan Asset Management is known for maintaining a concentrated portfolio and holding onto its favorite holdings for years, if not decades. I think this is important to note in the context of the firm’s Q1 Thor Industries sale, as I don’t believe investors should overreact to this news. The firm has been holding (and adding to) Thor since 2019 and only sold roughly 2% of its stake in Q1. In fact, Timucuan still holds nearly 5% of Thor’s total shares outstanding, so this isn’t a major sale by any means.

As for the stock itself, Thor operates in the highly cyclical RV industry, but has produced incredible returns for investors who bought and held for the long haul. Thor has delivered a 14% annualized total return since 1990 and has increased its dividend payments for 16 years, despite the inherent cyclicality of its operations. Furthermore, the company continues to hold a near-50% market share in the motorized RV niche in North America. It also holds No. 1 or No. 2 positions in N.A.’s towable niche and the European RV market.

While the current market is challenging for Thor, as consumer confidence remains weak and the company continues to rebound from the decline it saw following immense pandemic-fueled growth, its price-to-sales ratio of 0.40 is well below its ten-year average of 0.57. While I’m not sure exactly why Timucuan trimmed its Thor Industries position, investors shouldn’t worry about the transaction either way. In fact, I’d argue that if you’re truly interested in the stock, now is as good a time as any to take a serious look at the long-term outperformer.

Charles Schwab is an advertising partner of Motley Fool Money. Josh Kohn-Lindquist has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Installed Building Products. The Motley Fool recommends Charles Schwab and recommends the following options: short June 2026 $97.50 calls on Charles Schwab. The Motley Fool has a disclosure policy.

Financial Highlights

($ in thousands, except for per share data)

Three Months Ended

April 30,

Change

Nine Months Ended

April 30,

Change

2026

2025

2026

2025

Net Sales

$ 2,781,538

$ 2,894,816

(3.9) %

$ 7,296,517

$ 7,055,707

3.4 %

Gross Profit

$  354,770

$  443,119

(19.9) %

$   926,998

$   969,758

(4.4) %

Gross Profit Margin %

12.8 %

15.3 %

(250) bps

12.7 %

13.7 %

(100) bps

Net Income Attributable to THOR

$    97,229

$  135,185

(28.1) %

$   136,701

$   132,802

2.9 %

Diluted Earnings Per Share

$       1.86

$       2.53

(26.5) %

$       2.59

$       2.49

4.0 %

EBITDA (1)

$  209,078

$  232,958

(10.3) %

$  411,908

$  391,035

5.3 %

Adjusted EBITDA (1)

$  183,561

$  254,823

(28.0) %

$  412,620

$  449,620

(8.2) %

(1) See reconciliation of non-GAAP measures to the most directly comparable GAAP financial measures included at the end of this release

Fiscal 2026 Third Quarter

Net sales of $2.78 billion, Net income attributable to THOR of $97.2 million and EBITDA of $209.1 million in the quarter North American Motorized and European top-line results continue to indicate resilient demand for these products in a difficult macroeconomic environment Opportunistically repurchased $50.5 million of shares during the quarter Net income attributable to THOR was aided by gains from favorable market value adjustments on certain investments as well as gains on the sales of certain real estate associated with strategically optimizing our footprint. Adjusted EBITDA of $183.6 million in the quarter excludes, among other items, nonrecurring costs or benefits associated with strategic reorganization initiatives, the impact of gains on investments and the impact of real estate transactions Full-year fiscal 2026 diluted EPS guidance has been revised in light of prolonged macroeconomic headwinds Consolidated net sales in the range of $9.0 billion to $9.5 billion (no revision) Diluted earnings per share in the range of $3.30 to $3.80 (previously $3.75 to $4.25) , /PRNewswire/ -- THOR Industries, Inc. (NYSE: THO) today announced financial results for its fiscal 2026 third quarter ended April 30, 2026.

"At the end of our fiscal second quarter, we correctly identified the risk of geopolitical events having an adverse impact on the RV selling season. The consequences of this risk coming to fruition during our fiscal third quarter have exceeded the expectations of our industry due to the unforeseen duration of these macroeconomic influences and their impact on consumer sentiment and material costs. In particular, our North American Towable segment has confronted both suppressed volumes due to strained consumer sentiment and rising material costs brought on by tariff and inflationary pressures. Despite these challenges, we are focused on executing our strategy within any economic environment. Our fiscal third quarter results demonstrate the steadfastness of our teams as we navigate this challenging macroeconomic backdrop. Our North American Motorized and European segment results showed resilience and illustrate an enduring interest in the RV lifestyle, with fiscal 2026 third quarter Motorized net sales up 7.7% and European net sales up 3.6% on a constant currency basis compared to the prior-year period. We remain committed to diligently managing our business and better positioning it for the near-term RV landscape as we wait for resolutions to macroeconomic headwinds and an inflection in consumer confidence and the retail market. Our previously announced strategic realignment of our North American RV operations is well under way with management team assessments largely complete and initiatives ready to be implemented. Our operations in both North America and Europe continue to be streamlined while also delivering innovative and refreshed products. We have invested heavily in growing our owned supplier businesses to further diversify our revenue streams within the RV market and provide optionality as a trusted partner within the supplier landscape. Our future is bright, supported by the strong foundation we have built and the operational efficiencies we continue to pursue," stated Bob Martin, President and Chief Executive Officer of THOR Industries. "Our confidence in the appeal of the RV lifestyle remains high despite current macroeconomic impediments. We look forward to advancing the realignment of our North American RV operations and to start seeing key initiatives put in motion as well as their benefits starting to be realized. We are clear and confident in our strategy going forward, and are well-equipped to manage through any market landscape."

Todd Woelfer, Senior Vice President and Chief Operating Officer, added, "Our fiscal third quarter results reflect both the resilience of our diversified business model and the persistent macroeconomic headwinds facing the RV consumer. With three quarters of fiscal 2026 now complete, we have meaningful visibility into the full-year trajectory of our financial performance. The strained retail environment is reflective of the low level of consumer confidence and has led to reduced retail expectations for the industry. Cost pressures have particularly weighed on our North American Towable results. Even against the backdrop of macroeconomic uncertainty and a subdued retail environment, our conviction that the RV lifestyle continues to resonate with consumers was affirmed. Our North American Motorized segment delivered net sales growth compared to the prior-year period and expanded its retail market share to 47.8% for the three months ended March 31, 2026, while our European segment also grew net sales compared to the prior-year period and increased retail market share to 24.4% for the three months ended March 31, 2026, clear evidence that demand for our products remains durable in the categories where consumers see compelling value. In addition to the resilience of these segments, our owned supply companies continue to provide a lift to our consolidated financial results, with strong top- and bottom-line performances and content per unit growth across the RV industry for the nine months ended April 30, 2026 compared to the prior-year period. At the same time, we recognize that our North American Towable segment is facing continuing and amplified headwinds, and the strategic realignment we have set in motion is specifically designed to position that segment for stronger net sales and margin performance as retail conditions improve."

"As we enter the final quarter of fiscal 2026 mindful of the heightened uncertainty affecting consumer confidence and dealer ordering patterns, we are focused on execution: progressing through the operational steps of our North American RV realignment, continuing to invest in product innovation across all of our brands and maintaining the disciplined capital allocation framework that has allowed us to return capital to shareholders while preserving balance sheet strength. We have built THOR to perform through cycles, and the work we are doing today is creating a stronger foundation for the long-term value we are committed to delivering to our shareholders," stated Woelfer.

"Our disciplined capital allocation framework allowed us to maintain our balance sheet focus amidst an otherwise challenging operational environment. During the quarter, we returned capital to shareholders through $50.5 million in share repurchases and $27.1 million in dividend payments. We took advantage of suppressed market values due to macroeconomic conditions and strategically repurchased shares," added Colleen Zuhl, Senior Vice President and Chief Financial Officer. "We remain focused on maintaining the Company's resiliency within a difficult economic backdrop while still being poised for growth opportunities. THOR has demonstrated throughout its history an ability to manage through a diverse set of market conditions. Our strong liquidity position allows us to weather difficult environments while also being able to explore attractive ventures. Our focus going forward is to continue to manage working capital and to protect margins through efficiencies and production discipline, all while remaining committed to investing in our business. This commitment includes strategic initiatives that are forward-thinking and create long-term shareholder value. As we begin our fiscal 2026 fourth quarter, we are confident that our liquidity position affords us to not have to settle on an individual priority but instead pick and choose advantageous opportunities as they arise."

Third Quarter Financial Results

THOR's consolidated results were primarily driven by the results of its individual reportable segments as noted below.

Segment Results

North American Towable RVs

($ in thousands)

Three Months Ended

April 30,

Change

Nine Months Ended

April 30,

Change

2026

2025

2026

2025

Net Sales

$   881,778

$ 1,168,878

(24.6) %

$ 2,489,353

$ 2,895,922

(14.0) %

Unit Shipments

27,045

36,077

(25.0) %

74,429

94,108

(20.9) %

Gross Profit

$    89,693

$   174,317

(48.5) %

$   284,186

$   378,400

(24.9) %

Gross Profit Margin %

10.2 %

14.9 %

(470) bps

11.4 %

13.1 %

(170) bps

Income Before Income Taxes

$    52,683

$    97,587

(46.0) %

$   130,349

$   172,560

(24.5) %

As of April 30,

Change

($ in thousands)

2026

2025

Order Backlog

$          385,988

$          634,318

(39.1) %

Net sales declined in our fiscal 2026 third quarter compared to the prior-year period due to a 25.0% decrease in unit shipments influenced by a challenging retail environment and cautious independent dealer ordering patterns. The gross profit margin percentage in the third quarter of fiscal 2026 declined by 470 basis points compared to the prior-year period, primarily due to lower sales, an increased material cost percentage and an unfavorable product mix. Income before income taxes for the three and nine months ended April 30, 2026, includes gains on sales of fixed assets of $23.8 million and $36.8 million, respectively. North American Motorized RVs

($ in thousands)

Three Months Ended

April 30,

Change

Nine Months Ended

April 30,

Change

2026

2025

2026

2025

Net Sales

$   717,736

$   666,686

7.7 %

$ 1,955,903

$ 1,618,192

20.9 %

Unit Shipments

6,008

5,507

9.1 %

15,482

12,774

21.2 %

Gross Profit

$    62,947

$    70,297

(10.5) %

$   189,209

$   147,765

28.0 %

Gross Profit Margin %

8.8 %

10.5 %

(170) bps

9.7 %

9.1 %

+60 bps

Income Before Income Taxes

$    25,349

$    32,883

(22.9) %

$    79,402

$    46,262

71.6 %

As of April 30,

Change

($ in thousands)

2026

2025

Order Backlog

$          766,117

$          883,739

(13.3) %

Net sales for the North American Motorized segment increased 7.7% in the third quarter of fiscal 2026 compared to the prior-year period, driven by a 9.1% increase in unit shipments and a 1.4% decrease in the overall net price per unit as our more moderately priced Class C products remain popular with consumers. The gross profit margin percentage declined 170 basis points compared to the prior-year period due to the increased volumes being more than offset by the combined increases in the material, warranty and overhead cost percentages. European RVs

($ in thousands)

Three Months Ended

April 30,

Change

Nine Months Ended

April 30,

Change

2026

2025

2026

2025

Net Sales

$   987,585

$   883,542

11.8 %

$ 2,327,536

$ 2,100,910

10.8 %

Unit Shipments

14,065

13,495

4.2 %

32,253

31,572

2.2 %

Gross Profit

$   142,029

$   142,830

(0.6) %

$   294,972

$   316,407

(6.8) %

Gross Profit Margin %

14.4 %

16.2 %

(180) bps

12.7 %

15.1 %

(240) bps

Income Before Income Taxes

$    56,167

$    46,299

21.3 %

$    17,221

$    49,686

(65.3) %

As of April 30,

Change

($ in thousands)

2026

2025

Order Backlog

$        1,357,430

$        1,343,608

1.0 %

European RV net sales for the third quarter of fiscal 2026 increased 11.8% compared to the prior-year period, driven by the combined impact of a 4.2% increase in unit shipments and a 7.6% increase in the overall net price per unit, of which 8.2% was due to favorable changes in foreign currency exchange rates. The gross profit margin percentage fell 180 basis points in our fiscal 2026 third quarter compared to the prior-year period due to a higher material cost percentage, a higher mix of lower-margin special-edition motorcaravan products and an increased warranty cost percentage. Income before income taxes includes restructuring costs of $3.4 million and $15.8 million for the three and nine months ended April 30, 2026, respectively. Fiscal 2026 Guidance

"Our results through the first three quarters of fiscal 2026 reflect the persistent macroeconomic pressures weighing on the broader RV market, including a challenged retail environment driven in large part by low consumer confidence, cautious independent dealer ordering patterns and ongoing tariff-related and inflationary cost dynamics that continue to negatively impact industry-wide performance. While these external conditions remain outside of our control, we are firmly focused on the conditions that are within our control — measured production management, the strategic realignment of our North American RV operations, continued operational improvements across our European segment and the disciplined capital allocation framework that has guided our decisions throughout the fiscal year. Given the prolonged geopolitical and macroeconomic conditions and the resulting pressure on consumer confidence and retail demand, we believe it is prudent to revise portions of our full-year guidance. Despite this revision, we remain confident in our ability to execute through the remainder of fiscal 2026 and position THOR to outperform when market conditions stabilize," commented Woelfer.

For fiscal 2026, the Company's full-year financial guidance includes:

Consolidated net sales in the range of $9.0 billion to $9.5 billion (no revision) Declining gross margin at midpoint (previously stable) Diluted earnings per share in the range of $3.30 to $3.80 (previously $3.75 to $4.25) For the fiscal year 2026 period, an assumption of a mid-teens retail decline in North America with a low-single-digit market share decline in North American Towables and a low-single-digit market share gain in North American Motorized (previously low- to mid-single-digit retail decline in North America with stable market share) No meaningful financial impact for the balance of the fiscal year related to the strategic evolution of our North American RV operations (no revision) A total tax rate in the range of 26% to 28% including estimated discrete items (previously 24% to 26% excluding discrete items) Mr. Martin concluded by saying, "While the current operating environment reflects heightened near-term headwinds for our industry, our conviction in the long-term trajectory of the RV market remains as strong as ever. Consumers continue to value the freedom, flexibility and connection to the outdoors that the RV lifestyle uniquely provides. The fundamental drivers of demand — favorable demographic trends, the enduring appeal of outdoor recreation and the millions of consumers introduced to the RV lifestyle over the past several years — remain firmly intact. As we enter the final quarter of fiscal 2026, we are focused on executing the strategic initiatives that will position THOR to lead the RV industry into its next phase of growth. We have built this Company to perform across cycles, and the operational discipline, brand strength and innovation pipeline we are advancing today give me tremendous confidence in our ability to deliver sustainable, long-term value for our shareholders, our independent dealer partners and the consumers we serve."

Supplemental Earnings Release Materials

THOR Industries has provided a comprehensive question and answer document, as well as a PowerPoint presentation, relating to its quarterly results and other topics.

To view these materials, go to http://ir.thorindustries.com.

About THOR Industries, Inc.

THOR Industries is the sole owner of operating companies which, combined, represent the world's largest manufacturer of recreational vehicles.

For more information on the Company and its products, please go to www.thorindustries.com.

Forward-Looking Statements

This release includes certain statements that are "forward-looking" statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made based on management's current expectations and beliefs regarding future and anticipated developments and their effects upon THOR and inherently involve uncertainties and risks. These forward-looking statements are not a guarantee of future performance and actual results may differ materially from our expectations. Factors which could cause materially different results include, among others: the impact of inflation on the cost of our products as well as on general consumer demand; the level of consumer confidence and the level of discretionary consumer spending; the effect of raw material and commodity price fluctuations, including the impact of tariffs, and/or raw material, commodity or chassis supply constraints; the impact of war, military conflict, terrorism and/or cyber-attacks, including state-sponsored or ransom attacks; the impact of sudden or significant adverse changes in the cost and/or availability of energy or fuel, including those caused by geopolitical events, on our costs of operation, on raw material prices, on our suppliers, on our independent dealers or on retail customers; the dependence on a small group of suppliers for certain components used in production, including chassis; interest rates and interest rate fluctuations and their potential impact on the general economy and, specifically, on our independent dealers and consumers and our profitability; the ability to ramp production up or down quickly in response to rapid changes in demand or market share while also managing associated costs, including labor-related costs and production capacity costs; the level and magnitude of warranty and recall claims incurred; the ability of our suppliers to financially support any defects in their products; the financial health of our independent dealers and their ability to successfully manage through various economic conditions; legislative, trade, regulatory and tax law and/or policy developments including their potential impact on our independent dealers, retail customers or on our suppliers; the costs of compliance with governmental regulation; the impact of an adverse outcome or conclusion related to current or future litigation or regulatory audits or investigations; public perception of and the costs related to environmental, social and governance matters; legal and compliance issues including those that may arise in conjunction with recently completed transactions; the ability to realize anticipated benefits of strategic initiatives including realignments or other reorganizational actions; the impact of exchange rate fluctuations; restrictive lending practices which could negatively impact our independent dealers and/or retail consumers; management changes; the success of new and existing products and services; the ability to maintain strong brands and develop innovative products that meet consumer demands; changes in consumer preferences; the risks associated with acquisitions, including: the pace and successful closing of an acquisition, the integration and financial impact thereof, the level of achievement of anticipated operating synergies from acquisitions, the potential for unknown or understated liabilities related to acquisitions, the potential loss of existing customers of acquisitions and our ability to retain key management personnel of acquired companies; a shortage of necessary personnel for production and increasing labor costs and related employee benefits costs to attract and retain production personnel in times of high demand; the loss or reduction of sales to key independent dealers, and stocking level decisions of our independent dealers; disruption of the delivery of units to independent dealers or the disruption of delivery of raw materials, including chassis, to our facilities; increasing costs for freight and transportation; the ability to protect our information technology systems, including confidential and personal information, from data breaches, cyber-attacks and/or network disruptions; asset impairment charges; competition; the impact of losses under repurchase agreements; the impact of the strength of the U.S. dollar on international demand for products priced in U.S. dollars; general economic, market, public health and political conditions in the various countries in which our products are produced and/or sold; the impact of adverse weather conditions and/or weather-related events; the impact of changing emissions and other related climate change regulations in the various jurisdictions in which our products are produced, used and/or sold; changes to our investment and capital allocation strategies or other facets of our strategic plan; and changes in market liquidity conditions, credit ratings and other factors that may impact our access to future funding and the cost of debt.

These and other risks and uncertainties are discussed more fully in our Quarterly Report on Form 10-Q for the quarter ended April 30, 2026 and in Item 1A of our Annual Report on Form 10-K for the year ended July 31, 2025.

We disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this release or to reflect any change in our expectations after the date hereof or any change in events, conditions or circumstances on which any statement is based, except as required by law.

THOR INDUSTRIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

FOR THE THREE AND NINE MONTHS ENDED APRIL 30, 2026 AND 2025

($000's except share and per share data) (Unaudited)

Three Months Ended April 30,

Nine Months Ended April 30,

2026

 % Net
Sales (1)

2025

 % Net
Sales (1)

2026

 % Net
Sales (1)

2025

 % Net
Sales (1)

Net sales

$ 2,781,538

$ 2,894,816

$ 7,296,517

$ 7,055,707

Gross profit

$   354,770

12.8 %

$   443,119

15.3 %

$   926,998

12.7 %

$   969,758

13.7 %

Selling, general and administrative
expenses

230,929

8.3 %

238,273

8.2 %

696,980

9.6 %

684,692

9.7 %

Amortization of intangible assets

27,818

1.0 %

29,604

1.0 %

83,543

1.1 %

88,670

1.3 %

Interest expense, net

9,655

0.3 %

11,205

0.4 %

28,092

0.4 %

38,383

0.5 %

Other income (expense), net

47,105

1.7 %

(8,457)

(0.3) %

68,570

0.9 %

(5,189)

(0.1) %

Income before income taxes

133,473

4.8 %

155,580

5.4 %

186,953

2.6 %

152,824

2.2 %

Income tax provision

37,935

1.4 %

21,652

0.7 %

53,605

0.7 %

22,858

0.3 %

Net income

95,538

3.4 %

133,928

4.6 %

133,348

1.8 %

129,966

1.8 %

Less: Net loss attributable to non-
controlling interests

(1,691)

(0.1) %

(1,257)

— %

(3,353)

— %

(2,836)

— %

Net income attributable to THOR
Industries, Inc.

$    97,229

3.5 %

$   135,185

4.7 %

$   136,701

1.9 %

$   132,802

1.9 %

Earnings per common share:

 Basic

$       1.86

$       2.54

$       2.60

$       2.50

 Diluted

$       1.86

$       2.53

$       2.59

$       2.49

Weighted-average common shares
outstanding:

Basic

52,240,856

53,203,568

52,548,586

53,128,112

Diluted

52,399,684

53,433,493

52,743,174

53,439,096

(1) Percentages may not add due to rounding differences

SUMMARY CONDENSED CONSOLIDATED BALANCE SHEETS ($000's) (Unaudited)

April 30,
2026

July 31,
2025

April 30,
2026

July 31,
2025

Cash and equivalents

$    371,946

$    586,596

Current liabilities

$  1,691,047

$  1,584,696

Accounts receivable, net

879,281

707,363

Long-term debt, net

871,444

919,612

Inventories, net

1,530,715

1,351,796

Other long-term liabilities

279,809

271,424

Prepaid income taxes, expenses and other

104,620

132,220

Stockholders' equity

4,312,475

4,289,552

Total current assets

2,886,562

2,777,975

Property, plant & equipment, net

1,322,270

1,315,728

Goodwill

1,874,114

1,841,118

Amortizable intangible assets, net

682,107

758,758

Equity investments and other, net

389,722

371,705

Total

$  7,154,775

$  7,065,284

$  7,154,775

$  7,065,284

Non-GAAP Reconciliations

The following table reconciles consolidated net income to consolidated EBITDA and Adjusted EBITDA:

EBITDA Reconciliations

($ in thousands)

Three Months Ended

April 30,

Nine Months Ended

April 30,

2026

2025

2026

2025

Net income (GAAP)

$       95,538

$     133,928

$     133,348

$     129,966

Add back:

Interest expense, net

9,655

11,205

28,092

38,383

Income tax provision

37,935

21,652

53,605

22,858

Depreciation and amortization of intangible assets

65,950

66,173

196,863

199,828

EBITDA (Non-GAAP)

$     209,078

$     232,958

$     411,908

$     391,035

Add back:

Stock-based compensation expense

6,702

8,188

25,599

26,798

Change in LIFO reserve, net

2,837

(1,400)

5,941

(2,900)

Non-cash foreign currency loss (gain)

(1,534)

2,665

(2,613)

7,311

Investment-related loss (gain) (1)

(14,227)

137

(13,162)

5,414

Weather-related loss (gain)

—

(1,500)

—

(1,500)

Strategic initiatives

6,282

12,722

29,023

28,181

Other loss (gain), including sales of PP&E

(25,577)

1,053

(44,076)

(4,719)

Adjusted EBITDA (Non-GAAP)

$     183,561

$     254,823

$     412,620

$     449,620

(1) Includes the fair value adjustments of certain warrants and stock investments along with equity method investment income and losses

EBITDA and Adjusted EBITDA are non-GAAP performance measures included to illustrate and improve comparability of the Company's results from period to period, particularly in periods with unusual or one-time items. EBITDA is defined as net income before net interest expense (income), income tax provision (benefit) and depreciation and amortization. Adjusted EBITDA reflects adjustments to EBITDA to identify items that, in management's judgment, significantly affect the assessment of earnings results between periods. The Company considers these non-GAAP measures in evaluating and managing the Company's operations and believes that discussion of results adjusted for these items is meaningful to investors because it provides a useful analysis of ongoing underlying operating trends. The adjusted measures are not in accordance with, nor are they a substitute for, GAAP measures, and they may not be comparable to similarly titled measures used by other companies.

SOURCE Thor Industries, Inc.