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New product line targets a key segment of the rapidly growing mobile AI computing marketPlans to leverage existing engineering, test and validation capabilities and utilize manufacturing operations at Union City, IN plant DETROIT, July 28, 2026 (GLOBE NEWSWIRE) -- Workhorse Group, Inc. (NASDAQ: WKHS) (“Workhorse”) today announced its intent to enter the mobile AI data center category with a new product: a turnkey, compute-ready, containerized mobile AI data center designed to meet the localized mobile AI infrastructure needs of distributed deployment applications worldwide.

The new containerized mobile AI data center product line, which is currently in development, is intended to leverage Workhorse’s existing engineering, software, testing, agile design and supply-chain capabilities as well as other cost synergies from manufacturing the new mobile AI data center product line at its plant in Indiana.

According to Grand View Research, the market size for “Containerized Data Centers” could reach $41 billion by 2031.1 According to numerous research reports, demand for edge computing, which is largely enabled by containerized data centers, is being driven by a combination of factors, including, but not limited to: deployment speed and site flexibility; 5G rollout and edge/AI workloads; disaster recovery and continuity; energy efficiency and sustainability regulation; and telecom, IT and Banking/Financial/Securities industries.2

Workhorse intends to meet this demand with a new proprietary mobile AI data center infrastructure product. The initial containerized design is expected to feature liquid-to-liquid cooling, isolated server racks, a separate climate-controlled operator zone with two workstations, integrated uninterruptable power supply (UPS) and battery back-up power, a fire suppression system, advanced monitoring for safety and security, and the ability to use multiple sources of external power, among other capabilities needed to operate a mobile AI data center.

Workhorse expects to develop a partnership-based go-to-market approach for the new product line via supplier partnerships with final data center developers who would manage the market development and customer relationship aspects of this product line. Workhorse is targeting 2027 for the commencement of initial production and commercial deliveries.

“We believe this expansion into a new, growing segment is a strategic step that builds on the broader capabilities we now have as a result of the merger late last year and it supports our expanded company vision to build the ‘new’ Workhorse as an industrial technology company. Workhorse already builds highly reliable mobile platforms: electric medium duty commercial vehicles manufactured at our commercial scale plant in Union City, Indiana,” said Scott Griffith, CEO of Workhorse. “We feel that this is an opportunity to build a competitive advantage and develop a new revenue stream in this exciting new category where we can leverage many of our existing core capabilities to establish a scalable early mover position in the mobile AI data center market.”

Engineering and Technical Synergies: Workhorse believes that its expertise and competencies in areas like power electronics, thermal management, ruggedized enclosures, mobile connectivity, vibration isolation and embedded systems, are also applicable to containerized platforms that can meet the operating demands of mobile AI data center hardware and systems.

Manufacturing Synergies: With its flexible, low-cost, low-overhead manufacturing center in Union City, Indiana, Workhorse can accommodate high-mix, low-volume production, custom configurations, and rapid iteration. Moreover, Workhorse’s design-test-validation cycles are purpose-built to be agile and to translate customer requirements and lessons from the field into new features and product improvements in weeks, not model years.

“We believe this new product line can provide new sources of revenue and cash flow and increase our operating leverage, helping us more quickly drive down the production costs of our electric trucks for our commercial fleet customers,” continued Griffith.

Workhorse also has continued the previously announced engineering and design work for its upcoming modular chassis and cab chassis products, with production for those products also expected to begin in late 2027. The company anticipates providing further updates on both its commercial vehicle line of business and its new product line during Workhorse’s Q2 earnings call scheduled for August 13, 2026.

About Workhorse Group Inc.

Headquartered in the Detroit area with a commercial-scale manufacturing plant in Union City, Indiana, Workhorse (Nasdaq: WKHS) is an American engineering and manufacturing company specializing in electrification, high-voltage systems integration, mobility platforms, ruggedized mobile platform manufacturing, distributed energy systems, and deployable industrial infrastructure. We manufacture durable, reliable and high-performing vehicles and infrastructure for mission-critical applications deployed in the world’s most demanding operating environments. More information is available at www.workhorse.com.

Media Relations Contacts:
Workhorse
John Williams, Communications
+1-206-660-5503, [email protected]

ICR, Inc.
[email protected]

Investor Relations Contact:
[email protected]

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that are not historical facts, including statements regarding Workhorse’s new product line, the market for containerized data centers and edge computing, the Company’s go-to-market approach, the expected date for initial production and delivery of the new product line, the Company’s ability to leverage existing capabilities in developing the new product line, the potential for revenue from the new product line to enable the Company to continue its cost reduction efforts for its electric trucks and other statements regarding the Company's achievement of its priorities and its other plans, objectives, expectations, business strategies, future operations, financial performance, prospects, and other future events or developments, are forward-looking statements. Some of these statements may be identified by the use of the words “plans”, “expects” or “does not expect”, “estimated”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, “targets”, “projects”, “contemplates”, “predicts”, “potential”, “continue”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “should”, “might”, “will” or “will be taken”, “occur” or “be achieved”.

These forward-looking statements are based on management's current expectations, assumptions, and estimates as of the date of this press release and are subject to numerous known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such statements. Factors that could cause actual results to differ include, among others, Workhorse’s ability to design and develop the new product line; additional costs that may be incurred in connection with the development of the product line; Workhorse’s ability to reach a commercial partnership for the development and sale of the new product line; the potential for distraction resulting from Workhorse’s efforts to develop the new product line; risks related to the development of the mobile AI computing market; and Workhorse’s ability to raise capital to fund its operations.

Additional information on these and other factors that may cause actual results and Workhorse’s performance to differ materially is included in Workhorse’s periodic reports filed with the SEC, including, but not limited to, Workhorse’s Annual Report on Form 10-K for the year ended December 31, 2025, including those factors described under the heading “Risk Factors” therein, and Workhorse’s subsequent periodic reports. Copies of Workhorse’s filings with the SEC are available publicly on the SEC’s website at www.sec.gov or may be obtained by contacting Workhorse. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. These forward-looking statements are made only as of the date hereof, and Workhorse undertakes no obligations to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

1 Grand View Research, “Global Containerized Data Center Market Size & Outlook” https://www.grandviewresearch.com/horizon/outlook/containerized-data-center-market-size/global
2 Fortune Business Insights, “Containerized Data Center Market Size, Share & Industry Analysis, 2026–2034,” fortunebusinessinsights.com/containerized-data-center-market-108571
Global Growth Insights, “Containerized and Modular Data Center Market Size, Share & Forecast to 2035,” globalgrowthinsights.com/market-reports/containerized-and-modular-data-center-market-105065
Global Market Insights (GMI), “Edge Data Center Market Size, Share & Growth Report, 2026–2035,” gminsights.com/industry-analysis/edge-data-center-market
Intel Market Research, “Modular Edge Data Centers Market, 2026–2034,” intelmarketresearch.com/modular-edge-data-centers-market-28018
BIS Research, “Prefabricated and Modular Data Centers Market — A Global and Regional Analysis, 2024–2034,” bisresearch.com/industry-report/prefabricated-and-modular-data-centers-market.html

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f5fcc6c1-c20d-4a1e-9a62-bcba4d6b21b2

Workhorse Containerized Mobile AI Data Center Product Line Workhorse to enter the mobile AI data center category with a turnkey, compute-ready, containerized m...

The collaboration pairs OpenAI's frontier models with EPAM's global forward-deployed engineering force, cyber resilience and innovative customer experience expertise.

, /PRNewswire/ -- EPAM Systems, Inc. (NYSE: EPAM) announced today that it has joined the OpenAI Partner Network as an OpenAI Advanced Partner to help global enterprises implement safer, scalable AI solutions. EPAM's forward-deployed engineers will integrate OpenAI's models into new and existing operations, address industry-specific compliance and security requirements and deliver world-class customer experiences.

EPAM and OpenAI Partner to Help Enterprises Unlock Higher Value Through Applied AI For most organizations, the challenge is no longer identifying where AI can create value but deploying and scaling it securely to deliver business results. Through its OpenAI practice, EPAM will help Global 2000 enterprises connect OpenAI models to their applications, data and workflows in core operations while meeting security, governance and regulatory requirements. Together, EPAM and OpenAI will develop specialized forward-deployed engineer training globally, certifying more than 5,000 consultants with 10,000+ credentials in the first year.

To learn how EPAM helps organizations operationalize OpenAI's frontier models into secure, production-ready enterprise solutions, explore the EPAM and OpenAI Partnership.

"The next era of enterprise AI isn't about deploying models, it's about applying strategic intelligence, and the right talent, to solve real business problems safely and at scale," said Elaina Shekhter, SVP and Chief Strategy & Transformation Officer at EPAM. "Our foundation of secure enterprise deployment, AI-native SDLCs, embedded cybersecurity and forward-deployed engineering expertise is what enables us to turn frontier models into production-ready outcomes. With OpenAI, we're combining the world's leading models with best-in-class engineering to help executive leaders accelerate innovation, strengthen operational resilience and deliver differentiated customer experiences that drive real business growth."

Helping Enterprise Clients Accelerate AI Deployment

Through the OpenAI Partner Network, EPAM's Advanced partnership level helps organizations:

Deliver AI-powered customer experiences that are personalized, secure and scalable. Embed intelligence across customer service, marketing, sales and business operations. Connect OpenAI models to enterprise applications, data and workflows securely. Accelerate deployment through forward-deployed engineering and governance. Build AI foundations that evolve alongside OpenAI's rapidly advancing capabilities. "We're pleased to welcome EPAM as an OpenAI Advanced Partner. EPAM's deep engineering expertise and enterprise transformation experience can help organizations turn the potential of AI into real-world results," said Colleen Kapase, VP Strategic Global Partners & Ecosystems, OpenAI. "Through the OpenAI Partner Network, EPAM can help more enterprises move from AI pilots to measurable business impact."

Proven Results in Production

EPAM is already helping clients move from AI strategy to production at scale with OpenAI. For example, 1&1, a leading telecommunications provider, partnered with EPAM to transform its customer experience journey through agentic AI. The enterprise-scale platform now handles a considerable share of customer calls per week through 20+ intelligent AI agents, with the first production deployment completed in under three months.

"EPAM supported us in launching key GenAI initiatives to enhance our customer operations," said Christian Neuroth, Head of GenAI Customer Operations, 1&1. "EPAM's AI/Run™.Transform enables orchestration of intelligent agents for omnichannel support via phone or digital assistants, improving customer experience and resolution speed. EPAM combines deep technical expertise with a strong commitment to scalable, future-ready solutions."

Read more about how EPAM and OpenAI are helping enterprises unlock operational resilience and frontier experiences here.

About EPAM Systems, Inc.
EPAM (NYSE: EPAM) is a global leader in AI transformation engineering and integrated consulting, serving Forbes Global 2000 companies and ambitious startups. With over thirty years of expertise in custom software, product and platform engineering, EPAM empowers organizations to become AI-Native enterprises, driving measurable value from innovation and digital investments. Recognized by industry benchmarks and leading analysts as a leader in AI, EPAM delivers globally while engaging locally, making the future real for clients, partners, and employees. 

We are proud to be recognized by Forbes, Glassdoor, Newsweek, Time Magazine, Great Place to Work and kununu as a Most Loved Workplace around the world. 

Learn more at www.epam.com and follow us on LinkedIn.

Forward-Looking Statements
This press release includes estimates and statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Our estimates and forward-looking statements are mainly based on our current expectations and estimates of future events and trends, which affect or may affect our business and operations. These statements may include words such as "may," "will," "should," "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions. Those future events and trends may relate to, among other things, developments relating to the war in Ukraine and escalation of the war in the surrounding region, political and civil unrest or military action in the geographies where we conduct business and operate, difficult conditions in global capital markets, foreign exchange markets, global trade, and the broader economy, the adoption and implementation of artificial intelligence technologies by EPAM and its clients, and the effect that these events may have on client demand and our revenues, operations, access to capital, and profitability. Other factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, the risk factors discussed in the Company's most recent Annual Report on Form 10-K and the factors discussed in the Company's Quarterly Reports on Form 10-Q, particularly under the headings "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" and other filings with the Securities and Exchange Commission. Although we believe that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made based on information currently available to us. EPAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.

SOURCE EPAM Systems, Inc.

The bull thesis for Chipotle Mexican Grill (NYSE:CMG | CMG Price Prediction) today is straightforward: management repurchased $2.4B of stock in 2025 at an average price of $42.54. Shares now trade well below that mark at about $31.79, and the company has about $1.7 billion in fresh share repurchase capacity ahead of Q2 earnings results arriving on July 29. The current level marks a notable reset for a business that has historically compounded.

Three Reasons Chipotle Stands Out Right Now The stock is down 30% in the past year. CMG trades at a P/E of 29 against a forward EPS of $1.35, with the stock sitting 30.5% below where it traded a year ago. Over the past decade, shares have still returned 268.92%. The 2026 drawdown reflects multiple compression while unit economics have held.

The path from 4,000 to 7,000 stores. Chipotle ended 2025 with 4,042 company-owned locations and is guiding 350 to 370 new openings for 2026 against a long-term target of 7,000 restaurants in the U.S. and Canada. Full-year 2025 operating cash flow reached $2.114 billion. That funds the build-out without leverage.

Wall Street sees upside. Analyst ratings sit at 26 Buy, 10 Hold, 0 Sell, with a consensus price target of $42.94, implying about 43% upside with the stock trading around $33. Polymarket traders assign a 60.5% probability to a Q2 earnings beat this Wednesday.

Chipotle Offers More Scale Than CAVA and More Growth Than McDonald’s CAVA Group (NYSE:CAVA) is a growth darling in this industry, but CAVA trades at a materially richer earnings multiple against a much smaller footprint. Chipotle offers roughly one-quarter the earnings multiple on nearly nine times the store base and superior cash generation.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Chipotle Mexican Grill didn't make the cut. Grab the names FREE today.

McDonald’s (NYSE:MCD) trades at a lower earnings multiple and offers a dividend yield, but Chipotle’s restaurant growth pace is materially faster. Today, Chipotle offers investors both growth and value.

Weak Traffic Is the Number to Watch on Wednesday Chipotle’s biggest near-term challenge is weak customer traffic, with comparable sales down 2.5% and transactions down 3.2% in Q4. However, restaurant-level margins remain above 23%, the company can fund hundreds of annual openings without taking on debt, and management continues to repurchase shares.

Wednesday’s report will show whether new menu initiatives can stabilize traffic while Chipotle continues expanding toward 7,000 locations. If those trends improve, today’s price could prove attractive relative to management’s own buyback activity and Wall Street’s $42.94 average target.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Chipotle Mexican Grill didn't make the cut. Grab the names FREE today.

Contact [email protected] for any questions or corrections.

Specialized 68,000-square-foot Facility is Fully Equipped to Perform Advanced Manufacturing, Integration and Testing of Experimental Hypersonic Payloads

New Facility is Key Element of Kratos Expected Significant Hypersonic Franchise Future Organic Growth Trajectory

SAN DIEGO, July 28, 2026 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a technology company specializing in defense, national security, and global markets, today announced that construction of its Indiana Payload Integration Facility (IPIF) for Hypersonic Systems located in Crane, Indiana, has been completed ahead of schedule.

Kratos’ IPIF, a $50 million state-of-the-art facility, is designed and purpose-built for rapid, affordable preparation of experimental payloads to significantly boost the tempo of flight testing for next-generation hypersonic systems and technologies, and to accelerate the development of new and advanced weapons systems.

Kratos is at the forefront of hypersonic and advanced technology development and testing, providing affordable, high-performance solutions to meet the needs of the U.S. military and allied nations. Kratos is the only company delivering both propulsion and flyer systems, which includes Kratos’ low cost Erinyes Hypersonic Flyer, Dark Fury, Zeus and Oriole Solid Rocket Motors, along with other Kratos systems and technologies. Kratos provides unmatched innovation, disruptive capabilities, mission responsiveness and affordability to our customers across our portfolio of systems.

Kratos IPIF at Crane, Indiana

A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/dbd60d9c-3013-461d-ae5e-5f0c67e17088

The 68,000-square-foot facility is fully equipped to perform advanced manufacturing, integration and testing of experimental hypersonic payloads. The IPIF engineering team will utilize enhanced workflows to simultaneously integrate, test and prepare up to six experimental payloads for critical hypersonic vehicles supporting programs like the Multi-Service Advanced Capabilities Hypersonic Testbed (MACH-TB). This new facility demonstrates Kratos’ steadfast commitment to advancing hypersonic system development and expanding the industrial base needed to accelerate Mach 5+ flight testing. The facility is expected to create over 100 high-tech jobs, with an estimated average annual wage of $80,000+, with significant hiring underway.

Mike Johns, Vice President of Kratos SRE, said, “The IPIF investment in southern Indiana brings online a national asset and critically needed infrastructure to rapidly scale the cadence of hypersonic testing in the United States. The facility will be a gathering place for the most advanced technologies and companies in hypersonics.”

Dave Carter, President of Kratos Defense & Rocket Support Services, said, “Kratos’ infrastructure expansion near the Naval Surface Warfare Center Crane Division is part of our strategy to establish an advanced defense hub in Southern Indiana. We are building strategic, purpose-built facilities that enhance U.S. defense and aerospace capabilities.”

For more information on Kratos and its hypersonic programs, visit www.kratosdefense.com.

About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a technology, products, system and software company addressing the defense, national security, and commercial markets. Kratos makes true internally funded research, development, capital and other investments, to rapidly develop, produce and field solutions that address our customers’ mission critical needs and requirements. At Kratos, affordability is a technology, and we seek to utilize proven, leading edge approaches and technology, not unproven bleeding edge approaches or technology, with Kratos’ approach designed to reduce cost, schedule and risk, enabling us to be first to market with cost effective solutions. We believe that Kratos is known as an innovative disruptive change agent in the industry, a company that is an expert in designing products and systems up front for successful rapid, large quantity, low-cost future manufacturing which is a value add competitive differentiator for our large traditional prime system integrator partners and also to our government and commercial customers. Kratos intends to pursue program and contract opportunities as the prime or lead contractor when we believe that our probability of win (PWin) is high and any investment required by Kratos is within our capital resource comfort level. We intend to partner and team with a large, traditional system integrator when our assessment of PWin is greater or required investment is beyond Kratos’ comfort level. Kratos’ primary business areas include virtualized ground systems for satellites and space vehicles including software for command & control (C2) and telemetry, tracking and control (TT&C), jet powered unmanned aerial drone systems, advanced vehicles and rocket systems, propulsion systems for drones, missiles, loitering munitions, supersonic systems, space craft and launch systems, C5ISR and microwave electronic products for missile, radar, missile defense, space, satellite, counter UAS, directed energy, communication and other systems, and virtual & augmented reality training systems for the warfighter. For more information, visit www.KratosDefense.com and follow Kratos on LinkedIn and X.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 28, 2025, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.

Press Contact:
Claire Cantrell
[email protected]

Kratos Investor Information:
877-934-4687
[email protected]

The Wall Street entrance to the New York Stock Exchange (NYSE) is seen in New York City, U.S., November 15, 2022. REUTERS/Brendan McDermid//File Photo Purchase Licensing Rights, opens new tab

CompaniesJuly 28 (Reuters) - Xylem (XYL.N), opens new tab on Tuesday raised its 2026 profit forecast after its second-quarter results beat Wall ​Street estimates, as cost savings and price ‌increases boosted profitability amid strengthening AI infrastructure demand.

Shares of the company rose more than 2% in premarket trading.

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The ​water-management company now expects 2026 adjusted ​earnings of $5.55 to $5.70 per share, compared with its ⁠previous forecast of $5.35 to $5.60 per share.

CEO Matthew ​Pine said the expansion of AI infrastructure has ​increased demand for water solutions across semiconductor manufacturing, power generation, mining and other industries.

"The demand drivers behind our ​business continue to strengthen," Pine said, citing growing ​investment by utilities and industrial customers.

Xylem now expects annual revenue ‌of ⁠about $9.2 billion compared to its prior range of $9.2 billion to $9.3 billion.

Analysts on average expect 2026 adjusted profit of $5.54 per share and revenue of $9.25 ​billion, according ​to data ⁠compiled by LSEG.

On an adjusted basis, quarterly profit stood at $1.46 per share, ​above analysts' estimate of $1.34 per share.

Xylem's ​quarterly ⁠revenue rose 2% to $2.34 billion, in line with analysts' estimates.

Revenue in Xylem's water infrastructure business rose ⁠5% to $683 ​million.

Its water solutions and ​services segment recorded a 3% increase in revenue to $644 million.

Reporting by ​Kunal Das in Bengaluru; Editing by Pooja Desai

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Centene (CNC - Free Report) came out with quarterly earnings of $2.51 per share, beating the Zacks Consensus Estimate of $0.89 per share. This compares to a loss of $0.16 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +182.02%. A quarter ago, it was expected that this healthcare company would post earnings of $1.87 per share when it actually produced earnings of $3.37, delivering a surprise of +80.21%.

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

Centene, which belongs to the Zacks Medical - HMOs industry, posted revenues of $53.58 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 12.73%. This compares to year-ago revenues of $48.74 billion. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Centene shares have added about 55.7% since the beginning of the year versus the S&P 500's gain of 8.3%.

What's Next for Centene?While Centene has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Centene was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.19 on $47.58 billion in revenues for the coming quarter and $3.46 on $190.97 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - HMOs is currently in the top 7% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, The Joint Corp. (JYNT - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 6.

This company is expected to post quarterly earnings of $0.11 per share in its upcoming report, which represents a year-over-year change of +283.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

The Joint Corp.'s revenues are expected to be $14.7 million, up 10.7% from the year-ago quarter.

Philadelphia, Pennsylvania--(Newsfile Corp. - July 28, 2026) - National plaintiffs' law firm Berger Montague PC announces a class action lawsuit against Hub Group, Inc. (NASDAQ: HUBG) ("Hub Group" or the "Company") on behalf of investors who purchased or acquired Hub Group securities during the period from April 28, 2023 through May 11, 2026 (the "Class Period").

Investor Deadline: Investors who purchased or acquired Hub Group securities during the Class Period may, no later than August 28, 2026, seek to be appointed as a lead plaintiff representative of the class. To learn your rights, CLICK HERE.

Based in Oak Brook, Ill., Hub Group is a transportation and logistics company providing trucking and supply chain management services throughout North America.

The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements concerning the premature and incorrect revenue recognition of certain transactions, the understatement of purchased transportation costs and accounts payable, the effectiveness of the Company's internal controls, and the drivers of the Company's financial results and growth.

The alleged misstatements first came to light on February 5, 2026, when Hub Group announced that its financial statements for the first three quarters of 2025 should not be relied upon and would be restated due to an error that resulted in the understatement of purchased transportation costs and accounts payable during the first nine months of 2025. The Company estimated that the total reduction related to the issue was $77 million. Following these disclosures, Hub Group's stock price declined approximately 18%, from $51.33 per share on February 5, 2026, to $41.96 per share on February 6, 2026.

The alleged risks further materialized on May 12, 2026, when Hub Group announced that certain transactions had been prematurely or incorrectly recognized or not adequately supported, causing its 2023 and 2024 annual reports to be materially misstated and should no longer be relied upon. Following this disclosure, Hub Group's stock price declined an additional 13%, from $41.86 per share on May 11, 2026, to $36.62 per share on May 12, 2026.

If you are a Hub Group investor and would like to learn more about this action, CLICK HERE or please contact Berger Montague: Andrew Abramowitz at [email protected] or (215) 875-3015, or Caitlin Adorni at [email protected] or (267) 764-4865.

About Berger Montague
Berger Montague is one of the nation's preeminent law firms focusing on complex civil litigation, class actions, and mass torts in federal and state courts throughout the United States. With more than $2.4 billion in 2025 post-trial judgments alone, the Firm is a leader in the fields of complex litigation, antitrust, consumer protection, defective products, environmental law, employment law, securities, and whistleblower cases, among many other practice areas. For over 55 years, Berger Montague has played leading roles in precedent-setting cases and has recovered over $50 billion for its clients and the classes they have represented. Berger Montague is headquartered in Philadelphia and has offices in Chicago; Malvern, PA; Minneapolis; San Diego; San Francisco; Toronto, Canada; Washington, D.C., and Wilmington, DE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306850

Source: Berger Montague

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Subscription revenue 1 climbs +16% year over year to a record $267 million

Subscription annualized recurring revenue (ARR) 1,2 reaches $1,054 million, up +22% year over year

Free cash flow 3 increased +71% year over year to $51 million

, /PRNewswire/ -- Commvault (Nasdaq: CVLT) today announced its financial results for the fiscal first quarter ended June 30, 2026.

"Our results reflect what we're hearing from customers every day – they are embracing our AI-enabled platform to protect data, govern access, and make clean, trusted recoveries," said Sanjay Mirchandani, President and CEO, Commvault. "With strong growth and record profitability, Commvault is well positioned to continue taking share in an AI-first world."

Notes are contained at the end of this press release

First Quarter Fiscal 2027 Highlights -

Subscription revenue1 was $267 million, up 16% year over year, inclusive of: SaaS revenue crossed $100 million, up 39% year over year Subscription ARR1,2 grew to $1,054 million, up 22% year over year Income from operations (EBIT) was $26 million, an operating margin of 8.2% Non-GAAP EBIT3 was $71 million, an operating margin of 22.8% Operating cash flow was $52 million, with free cash flow3 of $51 million, up 71% year over year Recent Business Highlights -

Commvault and Microsoft announced a multi-year strategic partnership to offer Commvault's AI and cyber resilience solutions as a native ISV service on Microsoft Azure, underscoring the importance of AI and resilience for enterprises. Commvault was named a Leader in the Gartner® Magic Quadrant™ for Backup and Data Protection Platforms for the 15th consecutive year. Financial Outlook for Second Quarter and Full Year Fiscal 20274 -
We are providing the following guidance for the second quarter of fiscal year 2027:

Subscription revenue1 is expected to be between $264 million and $268 million Non-GAAP EBIT margin3 is expected to be approximately 20% We are providing the following updated guidance for the full fiscal year 2027:

Subscription revenue1 is expected to be between $1,119 million and $1,129 million Subscription ARR1,2 is expected to be between $1,200 million and $1,210 million Non-GAAP EBIT margin3 is expected to be approximately 21% Free cash flow3 is expected to be between $250 million and $260 million Share repurchases are expected to be approximately 60% of free cash flow3 Diluted shares outstanding are expected to be approximately 42 million The above guidance metrics contemplate current macroeconomic conditions. These statements are forward-looking and made pursuant to the safe harbor provisions discussed in detail below. We do not undertake any obligation to update these forward-looking statements. Actual results may differ materially from anticipated results.

Conference Call Information
Commvault will host a conference call today, July 28, 2026 at 8:30 a.m. Eastern Time (5:30 a.m. Pacific Time) to discuss quarterly results. The live webcast and call dial-in numbers can be accessed by registering under the "News & Events" section of Commvault's website at ir.commvault.com under the "Investor Events" heading. An archived webcast of this conference call will also be available following the call.

About Commvault
Commvault (Nasdaq: CVLT) is a leader in unified resilience at enterprise scale. In a constantly evolving threat landscape, Commvault keeps customers ready by unifying data security, identity resilience, and cyber recovery, on one cloud-native, AI-enabled platform. Customers trust Commvault to conduct the fastest, most complete recoveries – not just their data, but their entire business. Purpose-built for the agentic enterprise, Commvault also enables organizations to safely embrace AI while protecting against AI-driven threats.

Safe Harbor Statement
This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as those related to our restructuring plans, competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions, outcome of litigation and others. For a discussion of these and other risks and uncertainties affecting Commvault's business, see "Item 1A. Risk Factors" in our annual report on Form 10-K and "Item 1A. Risk Factors" in our most recent quarterly report on Form 10-Q. Statements regarding Commvault's beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements.

Overview
($ in thousands)

Q1'26

Q2'26

Q3'26

Q4'26

Q1'27

Revenue

Y/Y
Growth

Revenue

Y/Y
Growth

Revenue

Y/Y
Growth

Revenue

Y/Y
Growth

Revenue

Y/Y
Growth

Subscription:

Term-based license

$ 109,282

36 %

$ 92,647

10 %

$ 118,950

22 %

$ 114,445

6 %

$ 110,420

1 %

Term-based support

47,582

20 %

49,686

19 %

50,962

18 %

53,933

21 %

56,057

18 %

SaaS

72,445

66 %

80,018

61 %

87,379

44 %

93,139

43 %

100,550

39 %

Total subscription

229,309

40 %

222,351

26 %

257,291

28 %

261,517

20 %

267,027

16 %

Perpetual license

7,335

(47) %

12,073

15 %

13,675

(17) %

10,129

(32) %

8,695

19 %

Perpetual support

31,439

(14) %

30,543

(15) %

29,309

(14) %

26,972

(15) %

25,475

(19) %

Other services

13,895

31 %

11,221

2 %

13,557

25 %

13,074

26 %

12,934

(7) %

Total revenues

$ 281,978

26 %

$ 276,188

18 %

$ 313,832

19 %

$ 311,692

13 %

$ 314,131

11 %

Constant Currency - Revenue
($ in thousands)

The constant currency impact is calculated using the average foreign exchange rates from the prior year period and applying these rates to foreign-denominated revenues in the current corresponding period. Commvault analyzes revenue growth on a constant currency basis in order to provide a comparable framework for assessing how the business performed excluding the effect of foreign currency fluctuations. The non-GAAP financial measures presented in this press release should not be considered as a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP.

Q1'26
Revenue as 
Reported
(GAAP)

Q1'27
Revenue as
Reported
(GAAP)

Constant
Currency
Impact

% Change Y/Y
(GAAP)

% Change Y/Y
Constant
Currency

Subscription:

Term-based license

$     109,282

$     110,420

$        (659)

1 %

— %

Term-based support

47,582

56,057

(603)

18 %

17 %

SaaS

72,445

100,550

(1,166)

39 %

37 %

Total subscription

229,309

267,027

(2,428)

16 %

15 %

Perpetual license

7,335

8,695

150

19 %

21 %

Perpetual support

31,439

25,475

(243)

(19) %

(20) %

Other services

13,895

12,934

114

(7) %

(6) %

Total

$     281,978

$     314,131

$      (2,407)

11 %

11 %

Disaggregation of Revenues
($ in thousands)

Our Americas region includes the United States, Canada, and Latin America. Our International region primarily includes Europe, the Middle East, Africa, Australia, India and Southeast Asia.

Q1'26

Q2'26

Q3'26

Q4'26

Q1'27

Revenue

Y/Y
Growth

Revenue

Y/Y
Growth

Revenue

Y/Y
Growth

Revenue

Y/Y
Growth

Revenue

Y/Y
Growth

Americas

$ 170,928

23 %

$ 168,125

16 %

$ 178,852

15 %

$ 184,977

9 %

$ 186,779

9 %

International

111,050

29 %

108,063

22 %

134,980

26 %

126,715

20 %

127,352

15 %

Total revenues

$ 281,978

26 %

$ 276,188

18 %

$ 313,832

19 %

$ 311,692

13 %

$ 314,131

11 %

Subscription ARR and SaaS ARR1,2
($ in thousands)

Q1'26

Q2'26

Q3'26

Q4'26

Q1'27

Subscription ARR

867,306

918,130

966,260

1,014,729

1,054,311

SaaS ARR

306,874

335,669

363,732

400,157

424,337

Additional Financial Information

We repurchased approximately 98,000 shares of common stock for $10 million during the three months ended June 30, 2026 Weighted average diluted shares outstanding were approximately 42 million for the period ended June 30, 2026 Cash and cash equivalents totaled $930 million as of June 30, 2026 Subscription net dollar retention rate5 was 114% Commvault Systems, Inc.

Consolidated Statements of Operations
(In thousands, except per share data)
(Unaudited)

Three Months Ended
June 30,

2026

2025

Revenues:

Subscription:

  Term-based license

$ 110,420

$ 109,282

  Term-based support

56,057

47,582

  Software-as-a-service

100,550

72,445

Total subscription

267,027

229,309

Perpetual license

8,695

7,335

Perpetual support

25,475

31,439

Other services

12,934

13,895

Total revenues

314,131

281,978

Cost of revenues:

Term-based license

4,243

2,242

Software-as-a-service

29,652

25,972

Perpetual license

171

245

Customer support

14,699

14,207

Other services

8,844

8,111

Total cost of revenues

57,609

50,777

Gross margin

256,522

231,201

Operating expenses:

Sales and marketing

139,795

122,479

Research and development

39,542

40,062

General and administrative

46,751

41,270

Depreciation and amortization

2,319

2,607

Restructuring

2,396

237

Change in contingent consideration

—

(545)

Total operating expenses

230,803

206,110

Income from operations

25,719

25,091

Interest income

7,687

2,009

Interest expense

(1,473)

(278)

Other income, net

269

61

Income before income taxes

32,202

26,883

Income tax expense

11,063

3,387

Net income

$  21,139

$  23,496

Net income per common share:

Basic

$     0.51

$     0.53

Diluted

$     0.50

$     0.52

Weighted average common shares outstanding:

Basic

41,345

44,326

Diluted

41,869

45,283

Commvault Systems, Inc.

Condensed Consolidated Balance Sheets
(In thousands)
(Unaudited)

June 30,

March 31,

2026

2026

ASSETS

Current assets:

Cash and cash equivalents

$        929,837

$        899,987

Trade accounts receivable, net

271,568

330,483

Other current assets

65,520

56,040

Total current assets

1,266,925

1,286,510

Deferred tax assets, net

150,360

153,766

Property and equipment, net

9,677

9,750

Operating lease assets

33,985

34,920

Deferred commissions cost

110,465

103,892

Intangible assets, net

18,459

19,715

Goodwill

209,132

209,322

Other assets

91,418

68,430

Total assets

$     1,890,421

$     1,886,305

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Accounts payable

$             156

$             651

Accrued liabilities

138,979

165,583

Current portion of operating lease liabilities

7,148

6,963

Deferred revenue

473,744

484,973

Total current liabilities

620,027

658,170

Convertible notes, net

881,926

880,863

Deferred revenue, less current portion

291,151

293,725

Deferred tax liabilities

1,306

1,565

Long-term operating lease liabilities

28,581

29,675

Other liabilities

15,379

14,813

Total stockholders' equity

52,051

7,494

Total liabilities and stockholders' equity

$     1,890,421

$     1,886,305

Commvault Systems, Inc.

Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)

Three Months Ended
June 30,

2026

2025

Cash flows from operating activities

Net income

$  21,139

$  23,496

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

2,319

2,607

Amortization of debt issuance costs

1,164

85

Amortization of deferred commissions costs

14,582

10,989

Noncash stock-based compensation

35,290

30,180

Noncash operating lease expense

1,916

1,636

Noncash change in fair value of contingent consideration

—

(545)

Noncash adjustment on headquarters sale leaseback

—

495

Deferred income taxes

2,962

3,908

Other

(182)

(61)

Changes in operating assets and liabilities:

  Trade accounts receivable, net

58,714

3,748

  Other current assets and Other assets

(23,190)

2,378

  Deferred commissions cost

(21,299)

(15,072)

  Accounts payable

(506)

(320)

  Accrued liabilities

(26,281)

(47,260)

  Operating lease liabilities

(1,889)

(1,908)

  Deferred revenue

(12,308)

17,440

  Other liabilities

(761)

(115)

Net cash provided by operating activities

51,670

31,681

Cash flows from investing activities

Purchase of property and equipment

(569)

(1,879)

Purchase of investments

(7,895)

(6,144)

Proceeds from sale of headquarters, net

—

34,849

Net cash provided by (used in) investing activities

(8,464)

26,826

Cash flows from financing activities

Repurchase of common stock

(10,131)

(15,050)

Payment of debt issuance costs

—

(1,846)

Other

(75)

(12)

Net cash used in financing activities

(10,206)

(16,908)

Effects of exchange rate — changes in cash

(3,150)

19,532

Net increase in cash and cash equivalents

29,850

61,131

Cash and cash equivalents at beginning of period

899,987

302,103

Cash and cash equivalents at end of period

$ 929,837

$ 363,234

Supplemental disclosures of noncash activities

Operating lease liabilities arising from obtaining right-of-use assets

$     932

$  20,252

Commvault Systems, Inc.

Reconciliation of GAAP to Non-GAAP Financial Measures
(In thousands, except per share data)
(Unaudited)

Three Months Ended
June 30,

2026

2025

Non-GAAP financial measures and reconciliation:

GAAP income from operations

$  25,719

$  25,091

Noncash stock-based compensation6

34,725

30,105

FICA and payroll tax expense related to stock-based compensation7

877

1,799

Restructuring8

2,396

237

Amortization of intangible assets9

1,256

1,071

Change in contingent consideration10

—

(545)

Adjustment on headquarters sale leaseback11

—

495

Non-recurring strategic pricing initiative costs12

6,500

—

Non-GAAP income from operations

$  71,473

$  58,253

GAAP net income

$  21,139

$  23,496

Noncash stock-based compensation6

34,725

30,105

FICA and payroll tax expense related to stock-based compensation7

877

1,799

Restructuring8

2,396

237

Amortization of intangible assets9

1,256

1,071

Change in contingent consideration10

—

(545)

Adjustment on headquarters sale leaseback11

—

495

Non-recurring strategic pricing initiative costs12

6,500

—

Non-GAAP provision for income taxes adjustment13

(7,646)

(11,024)

Non-GAAP net income

$  59,247

$  45,634

GAAP diluted earnings per share

$     0.50

$     0.52

Noncash stock-based compensation6

0.83

0.66

FICA and payroll tax expense related to stock-based compensation7

0.02

0.04

Restructuring8

0.06

0.01

Amortization of intangible assets9

0.03

0.02

Change in contingent consideration10

—

(0.01)

Adjustment on headquarters sale leaseback11

—

0.01

Non-recurring strategic pricing initiative costs12

0.16

—

Non-GAAP provision for income taxes adjustment13

(0.18)

(0.24)

Non-GAAP diluted earnings per share

$    1.42

$    1.01

GAAP diluted weighted average shares outstanding

41,869

45,283

Three Months Ended
June 30,

2026

2025

Non-GAAP free cash flow reconciliation:

GAAP cash provided by operating activities

$  51,670

$  31,681

Purchase of property and equipment

(569)

(1,879)

Non-GAAP free cash flow

$  51,101

$  29,802

Key Performance Indicators

We monitor subscription annualized recurring revenue ("Subscription ARR"), SaaS ARR and subscription net dollar retention rate ("Subscription NRR") to help evaluate the state of our business. We believe these metrics are material to investors to understand the growth and performance of our business, as they help normalize certain variable factors and provide a consistent view of our recurring revenue profile. Subscription ARR and SaaS ARR exclude non-recurring elements and reflect the annualized value of active contracts, while subscription NRR measures net expansion within our existing subscription customer base. Together, we believe these metrics offer meaningful insight into the health and trajectory of our recurring revenue streams. Total ARR, which also included the annualized maintenance contract on perpetual licenses, is no longer disclosed.

Use of Non-GAAP Financial Measures

We have provided in this press release the following non-GAAP financial measures: non-GAAP income from operations (EBIT), non-GAAP EBIT margin, non-GAAP net income, non-GAAP diluted earnings per share, and non-GAAP free cash flow. This financial information has not been prepared in accordance with GAAP. Commvault uses these non-GAAP financial measures internally to understand, manage and evaluate its business and make operating decisions. Commvault believes that the use of these non-GAAP financial measures, when used as a supplement to GAAP financial measures, provides an additional tool for investors to use in evaluating ongoing operating results and trends, and in comparing its financial results with other companies in Commvault's industry, many of which present similar non-GAAP financial measures to the investment community. Commvault has also provided its revenues on a constant currency basis. We analyze revenue growth on a constant currency basis in order to provide a comparable framework for assessing how the business performed excluding the effect of foreign currency fluctuations.

All of these non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures, which are included in this press release.

Non-GAAP EBIT and non-GAAP EBIT margin. These non-GAAP financial measures exclude noncash stock-based compensation charges and additional Federal Insurance Contribution Act (FICA) and related payroll tax expense incurred by Commvault when employees vest in restricted stock awards. Commvault has also excluded restructuring costs, noncash amortization of intangible assets, the change in the estimated fair value of contingent consideration, adjustments from the sale and leaseback of headquarters, and non-recurring strategic pricing initiative costs from its non-GAAP results. These adjustments are further discussed in the reconciliation of GAAP to non-GAAP financial measures. Commvault believes that these non-GAAP financial measures are useful metrics for management and investors because they compare Commvault's core operating results over multiple periods. When evaluating the performance of Commvault's operating results and developing short- and long-term plans, Commvault does not consider such expenses.

Although noncash stock-based compensation and the additional FICA and related payroll tax expenses are necessary to attract and retain employees, Commvault places its primary emphasis on stockholder dilution as compared to the accounting charges related to such equity compensation plans. Commvault believes that providing non-GAAP financial measures that exclude noncash stock-based compensation expense and the additional FICA and related payroll tax expenses incurred on vesting of restricted stock awards allow investors to make meaningful comparisons between Commvault's operating results and those of other companies.

There are a number of limitations related to the use of non-GAAP EBIT and non-GAAP EBIT margin.  The most significant limitation is that these non-GAAP financial measures exclude certain operating costs, primarily related to noncash stock-based compensation, which is of a recurring nature. Noncash stock-based compensation has been, and will continue to be for the foreseeable future, a significant recurring expense in Commvault's operating results.  In addition, noncash stock-based compensation is an important part of Commvault's employees' compensation and can have a significant impact on their performance. The following table presents the stock-based compensation expense included in cost of revenues, sales and marketing, research and development and general and administrative ($ in thousands):

Three Months Ended
June 30,

2026

2025

Cost of revenues

$   1,403

$   1,249

Sales and marketing

14,168

12,586

Research and development

8,284

7,070

General and administrative

10,870

9,200

Stock-based compensation expense

$  34,725

$  30,105

The table above excludes stock-based compensation expense related to the Company's restructuring activities described below in Note 8.

The components that Commvault excludes in its non-GAAP financial measures may differ from the components that its peer companies exclude when they report their non-GAAP financial measures. Due to the limitations related to the use of non-GAAP measures, Commvault's management assists investors by providing a reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure. Commvault's management uses non-GAAP financial measures only in addition to, and in conjunction with, results presented in accordance with GAAP.

Non-GAAP net income and non-GAAP diluted earnings per share (EPS).  In addition to the adjustments discussed in non-GAAP EBIT, non-GAAP net income and non-GAAP diluted EPS incorporates a non-GAAP effective tax rate of 24%.

Commvault anticipates that in any given period its non-GAAP tax rate may be either higher or lower than the GAAP tax rate as evidenced by historical fluctuations. The GAAP tax rates in recent fiscal years were not meaningful percentages due to the dollar amount of GAAP pre-tax income.  For the same reason as the GAAP tax rates, the estimated cash tax rates in recent fiscal years are not meaningful percentages. Commvault defines its cash tax rate as the total amount of cash income taxes payable for the fiscal year divided by consolidated GAAP pre-tax income. Over time, Commvault believes its GAAP and cash tax rates will align.

Commvault considers non-GAAP net income and non-GAAP diluted EPS useful metrics for Commvault management and its investors for the same basic reasons that Commvault uses non-GAAP EBIT and non-GAAP EBIT margin. In addition, the same limitations as well as management actions to compensate for such limitations described above also apply to Commvault's use of non-GAAP net income and non-GAAP diluted EPS.

Non-GAAP free cash flow.  Commvault defines this non-GAAP financial measure as net cash provided by operating activities less purchases of property and equipment. Commvault considers non-GAAP free cash flow a useful metric for Commvault management and its investors in evaluating Commvault's ability to generate cash from its business operations. In addition, the same limitations as well as management actions to compensate for such limitations described above also apply to Commvault's use of non-GAAP free cash flow.

Forward-looking non-GAAP measures.  In this press release, Commvault presents non-GAAP EBIT margin and free cash flow on a forward-looking basis. The most directly comparable GAAP measures are not accessible on a forward-looking basis without unreasonable efforts, because certain items that impact these GAAP measures, cannot be reasonably predicted or quantified. The probable significance of these items may be material, and as a result, the corresponding GAAP measures and a quantitative reconciliation to those GAAP measures are not available on a forward-looking basis.

Notes

Beginning in fiscal 2027, Customer support revenue has been further disaggregated between support associated with term-based software license arrangements ("Term-based support") and support associated with perpetual software license arrangements ("Perpetual support"). Subscription revenue has also been reclassified to include Term-based support revenue, in addition to Term-based license and SaaS revenues. Prior period amounts have been reclassified to conform to the current period presentation. These reclassifications have no impact on total revenues, net income, or the underlying revenue recognition for these arrangements.In addition, Subscription ARR2 has been reclassified to include enterprise support, further aligning Subscription ARR with Subscription revenue. Prior to fiscal 2027, enterprise support was included only in Total ARR. Prior period amounts have been reclassified to conform to the current period presentation. Total ARR, which also included the annualized maintenance contract on perpetual licenses, is no longer disclosed.

Subscription ARR represents the annualized value of all active contracts as of the end of a reporting period attributable to term‑based licenses, maintenance and support services associated with term license arrangements, SaaS subscriptions, and consumption‑based arrangements, calculated by dividing the total active contract value by the number of days in the contract term and multiplying the result by 365. For consumption-based arrangements on a pay as you go model without a fixed commitment, the applicable ARR is calculated by annualizing the revenue contractually expected to be received in a given month based on actual monthly usage from a prior month. SaaS ARR includes only the cloud‑hosted portion of subscription ARR and is calculated using the same methodology.These metrics should be viewed independently of GAAP revenue, deferred revenue and unbilled revenue and are not intended to be combined with or to replace those items. These metrics are not a forecast of future revenues. Management believes that reviewing these metrics, in addition to GAAP results, helps investors and financial analysts understand the value of Commvault's recurring revenue streams presented on an annualized basis. There is no direct GAAP comparative to ARR.

A reconciliation of GAAP to non-GAAP results has been provided in the reconciliation of GAAP to non-GAAP financial measures included in this press release. An explanation of these measures is also included under the heading "Use of Non-GAAP Financial Measures." Commvault does not provide forward-looking guidance on a GAAP basis as certain financial information, the probable significance of which cannot be determined, is not available and cannot be reasonably estimated. See "Forward-looking non-GAAP measures" for additional explanation. Subscription net dollar retention rate (Subscription NRR) includes all contracts attributable to term‑based licenses, maintenance and support services associated with term license arrangements, SaaS subscriptions, and consumption‑based arrangements. Subscription NRR is calculated as the percentage of subscription ARR retained from existing customers at the start of an annual period after accounting for expansion revenue, churn, and downgrades, measured on an annualized basis using the trailing four quarter average. Acquired subscription ARR is excluded until the acquisition is fully integrated, which we generally expect to occur twelve months from the close date. We believe our subscription NRR offers valuable insight into the year-over-year expansion of our existing customer base, reflecting both increased utilization of current products and services as well as the adoption of additional offerings. There is no direct GAAP comparative to NRR. Represents noncash stock-based compensation charges associated with restricted stock units granted and our Employee Stock Purchase Plan, exclusive of stock-based compensation expense related to Commvault's restructuring activities described below in Note 8. Represents additional FICA and related payroll tax expenses incurred by Commvault when employees vest in restricted stock awards. Restructuring charges relate to two plans designed to optimize our cost structure, enhance organizational agility, align resources with strategic priorities, and reorganize our business technology function. These initiatives include workforce reductions, technology transitions, office lease closures, and the exit of operations in certain jurisdictions. The related charges primarily consist of severance and associated employee termination costs, stock‑based compensation expense resulting from modification events, and office closure and exit charges. As of June 30, 2026, the majority of these costs have been incurred and the remaining activities are anticipated to be completed in fiscal 2027. Represents noncash amortization of intangible assets. Represents the change in the estimated fair value of the contingent consideration arrangement related to the acquisition of Appranix, Inc. During the first quarter of fiscal 2026, we finalized the sale of our corporate headquarters and entered into a lease for a portion of the premises. These noncash charges represent accounting adjustments for a $1.3 million loss associated with the related lease terms and an $0.8 million adjustment to reflect the final sale price of the assets resulting in a net charge of $0.5 million recorded in general and administrative expense on the consolidated statements of operations. These charges relate to a non-routine business expense incurred during the period associated with contingent performance-based fees tied to strategic pricing and packaging initiatives. The arrangement also includes provisions for potential additional contingent fees of up to $3.0 million. As of June 30, 2026, no amounts have been recognized with respect to the potential additional contingent fees, which remain subject to future contractual conditions and performance outcomes. Given the non-recurring nature of the matter, these costs have been excluded from operating results as they are episodic in nature, directly tied to a discrete strategic initiative, and not reflective of ongoing operating performance. The provision for income taxes is adjusted to reflect Commvault's estimated non-GAAP effective tax rate of 24%. SOURCE COMMVAULT

LIBERTY LAKE, Wash, July 28, 2026 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for utilities and cities to manage energy and water, announced today financial results for its second quarter ended June 30, 2026. Key results for the quarter include (compared with the second quarter of 2025):

Revenue of $563 million, decreased 7%;Annual recurring revenue of $417 million, increased 21%;GAAP net income attributable to Itron, Inc. of $53 million, decreased $15 million;GAAP diluted earnings per share of $1.19, decreased $0.28 per share;Non-GAAP diluted EPS of $1.59, decreased $0.03 per share;Adjusted EBITDA of $97 million, increased 8%; andFree cash flow of $81 million, decreased $9 million. "Itron delivered record gross margin, earnings well ahead of our expectations, and strong free cash flow in the second quarter, with revenue in line with our outlook — clear evidence of the structurally better earnings power this team has built," said Tom Deitrich, Itron's President and CEO. "The demand environment remains constructive, supported by durable needs across grid expansion, resiliency, and affordability — and by the industry's intensifying focus on time-to-power. A stronger operating model in a durable demand environment is why we are raising our full-year earnings outlook."

Summary of Second Quarter Consolidated Financial Results
(All comparisons made are against the prior year period unless otherwise noted)

Revenue
Total second quarter revenue of $563 million compared to $607 million in the prior year. The decrease was driven primarily by lower Networked Solutions revenue, partially offset by continued growth in Outcomes.

Device Solutions revenue decreased 1%, or 3% in constant currency, due primarily to lower legacy electricity product sales.

Networked Solutions revenue decreased 17% due to the timing of project deployments and lower volumes.

Outcomes revenue increased 13% due to increased services revenue.

Resiliency Solutions revenue was $16 million with integration progressing to plan.

Adjusted Gross Margin
Itron's second quarter adjusted gross margin of 41.4% increased 460 bps basis points from the prior year due to customer and product mix as well as operational efficiencies.

Operating Expenses and Operating Income
GAAP operating expenses of $155 million increased $7 million from the prior year due to higher amortization costs, partially offset by lower restructuring costs. Non-GAAP operating expenses of $144 million increased $3 million from the prior year due to the Urbint and Locusview acquisitions.

GAAP operating income of $76 million was $0.3 million lower due to higher operating expenses, including acquisition-related amortization expense, partially offset by higher gross profit

Non-GAAP operating income of $89 million was $7 million higher than the prior year due to higher gross profit, partially offset by higher operating expenses.

Net Income and Earnings per Share (EPS)
Net income attributable to Itron, Inc. for the quarter was $53 million, or $1.19 per diluted share, compared with net income attributable to Itron, Inc. of $68 million, or $1.47 per diluted share in 2025. The decrease was driven by lower interest income and a higher effective tax rate.

Non-GAAP net income attributable to Itron, Inc., which excludes the expenses associated with amortization of intangible assets, amortization of debt placement fees, restructuring, loss on sale of business, strategic initiative expense, acquisition and integration related expenses, gain on the sale of equity method investments, and the tax effect of excluding these expenses, was $71 million, or $1.59 per diluted share, compared with $75 million, or $1.62 per diluted share, in 2025. The decrease was driven by lower interest income and a higher effective tax rate, partially offset by higher non-GAAP operating income.

Cash Flow
Net cash provided by operating activities was $88 million in the second quarter compared with $97 million in the prior year. Free cash flow was $81 million in the second quarter compared with $91 million in the prior year. The decrease in free cash flow was primarily due to higher tax payments and lower interest income, partially offset by favorable working capital timing.

Other Measures

Total backlog at quarter end was $4.4 billion compared with $4.5 billion in the prior year. Bookings in the quarter totaled $550 million. 

Q3 and Updated Full Year 2026 Outlook

Third quarter 2026 financial outlook:

Revenue between $590 and $600 millionNon-GAAP diluted EPS between $1.50 and $1.60 Updated full year 2026 financial outlook:

Revenue between $2.37 and $2.41 billionNon-GAAP diluted EPS between $6.30 - $6.50 Earnings Conference Call
Itron will host a conference call to discuss the financial results contained in this release at 10:00 a.m. EDT on July 28, 2026. Interested parties may listen to the conference call on a live webcast. The webcast, along with a supplemental presentation, may be accessed from the company’s website at https://investors.itron.com/events-presentations. Participants should access the webcast 10 minutes prior to the start of the call. A webcast replay of the conference call will be available may be accessed on the company's website at https://investors.itron.com/events-presentations.

About Itron

Itron is a proven global leader in energy, water, smart city, IIoT and intelligent infrastructure services. For utilities, cities and society, we build innovative systems, create new efficiencies, connect communities, encourage conservation and increase resourcefulness. By safeguarding our invaluable natural resources today and tomorrow, we improve the quality of life for people around the world. Join us: www.itron.com

Itron® and the Itron Logo are registered trademarks of Itron, Inc. in the United States and other countries and regions. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.

Cautionary Note Regarding Forward Looking Statements
This release contains, and our officers and representatives may from time to time make, "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical factors nor assurances of future performance. These statements are based on our expectations about, among others, revenues, operations, financial performance, earnings, liquidity, earnings per share, cash flows and restructuring activities including headcount reductions and other cost savings initiatives. This document reflects our current strategy, plans and expectations and is based on information currently available as of the date of this release. When we use words such as "expect", "intend", "anticipate", "believe", "plan", "goal", "seek", "project", "estimate", "future", "strategy", "objective", "may", "likely", "should", "will", "will continue", and similar expressions, including related to future periods, they are intended to identify forward-looking statements. Forward-looking statements rely on a number of assumptions and estimates. Although we believe the estimates and assumptions upon which these forward-looking statements are based are reasonable, any of these estimates or assumptions could prove to be inaccurate and the forward-looking statements based on these estimates and assumptions could be incorrect. Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Actual results and trends in the future may differ materially from those suggested or implied by the forward-looking statements depending on a variety of factors. Therefore, you should not rely on any of these forward-looking statements. Some of the factors that we believe could affect our results include our ability to execute on our restructuring plans, our ability to achieve estimated cost savings, the rate and timing of customer demand for our products, rescheduling of current customer orders, changes in estimated liabilities for product warranties, adverse impacts of litigation, changes in laws, regulations, tariffs, sanctions, trade policies and retaliatory responses, our dependence on new product development and intellectual property, future acquisitions, changes in estimates for stock-based and bonus compensation, increasing volatility in foreign exchange rates, international business risks, uncertainties caused by adverse economic conditions, including without limitation those resulting from extraordinary events or circumstances and other factors that are more fully described in Part I, Item 1A: Risk Factors included in our Annual Report on Form 10-K for the year ended Dec 31, 2025 and other reports on file with the Securities and Exchange Commission. Itron undertakes no obligation to update or revise any information in this press release.

Non-GAAP Financial Information

To supplement our consolidated financial statements, which are prepared in accordance with accounting principles generally accepted in the United States (GAAP), we use certain adjusted or non-GAAP financial measures, including non-GAAP operating expense, non-GAAP operating income, non-GAAP net income, non-GAAP diluted earnings per share (EPS), adjusted EBITDA, free cash flow, adjusted gross profit, adjusted operating income, and constant currency. We provide these non-GAAP financial measures because we believe they provide greater transparency and represent supplemental information used by management in its financial and operational decision making. We exclude certain costs in our non-GAAP financial measures as we believe the net result is a measure of our core business. We believe these measures facilitate operating performance comparisons from period to period by eliminating potential differences caused by the existence and timing of certain expense items that would not otherwise be apparent on a GAAP basis. Non-GAAP performance measures should be considered in addition to, and not as a substitute for, results prepared in accordance with GAAP. We strongly encourage investors and shareholders to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. Our non-GAAP financial measures may be different from those reported by other companies. When providing future outlooks and/or earnings guidance, a reconciliation of forward-looking non-GAAP diluted EPS to the GAAP diluted EPS has not been provided because we are unable to predict with reasonable certainty the potential amount or timing of restructuring related expenses and their related tax effects without unreasonable effort. These costs are uncertain, depend on various factors and could have a material impact on GAAP results for the guidance period. A more detailed discussion of why we use non-GAAP financial measures, the limitations of using such measures, and reconciliations between non-GAAP and the nearest GAAP financial measures are included in this press release.

For additional information, contact:

Itron, Inc.

Paul Vincent
Vice President, Investor Relations
(512) 560-1172

Stephanie Tarlton, CFA
Principal, Investor Relations
(512) 676-8365
[email protected]

Itron, Inc.

LinkedIn: https://www.linkedin.com/company/itronincX: https://x.com/ItronIncNewsroom: https://na.itron.com/newsroomBlog: https://blogs.itron.com ITRON, INC.CONSOLIDATED STATEMENTS OF OPERATIONS      (Unaudited, in thousands, except per share data)     Three Months Ended
June 30, Six Months Ended
June 30,  2026  2025   2026  2025 Revenues     Product revenues$453,462 $517,184  $931,263 $1,040,325 Service revenues 109,440  89,577   218,621  173,587 Total revenues 562,902  606,761   1,149,884  1,213,912 Cost of revenues     Product cost of revenues 280,692  337,394   580,901  683,836 Service cost of revenues 51,570  45,749   102,024  89,239 Total cost of revenues 332,262  383,143   682,925  773,075 Gross profit 230,640  223,618   466,959  440,837       Operating expenses     Sales, general and administrative 89,722  87,615   195,079  174,526 Research and development 56,141  53,810   111,140  103,900 Amortization of intangible assets 8,478  4,543   16,650  9,022 Restructuring 233  1,237   447  684 Loss on sale of business —  —   —  79 Total operating expenses 154,574  147,205   323,316  288,211       Operating income 76,066  76,413   143,643  152,626 Other income (expense)     Interest income 6,253  12,303   11,913  24,013 Interest expense (5,768) (5,648)  (11,577) (11,241)Other income (expense), net 3,655  414   3,422  363 Total other income (expense) 4,140  7,069   3,758  13,135       Income before income taxes 80,206  83,482   147,401  165,761 Income tax provision (26,733) (14,730)  (40,342) (31,659)Net income 53,473  68,752   107,059  134,102 Net income attributable to noncontrolling interests 201  412   328  288 Net income attributable to Itron, Inc.$53,272 $68,340  $106,731 $133,814       Net income per common share - Basic$1.21 $1.50  $2.40 $2.94 Net income per common share - Diluted$1.19 $1.47  $2.37 $2.89       Weighted average common shares outstanding - Basic 44,095  45,633   44,412  45,486 Weighted average common shares outstanding - Diluted 44,608  46,380   45,038  46,276  ITRON, INC.SEGMENT INFORMATION      (Unaudited, in thousands)      Three Months Ended
June 30, Six Months Ended
June 30,  2026  2025   2026  2025 Product revenues     Device Solutions$110,940 $111,939  $234,668 $237,326 Networked Solutions 309,201  379,481   630,348  754,003 Outcomes 32,883  25,764   64,755  48,996 Resiliency Solutions 438  —   1,492  — Total Company$453,462 $517,184  $931,263 $1,040,325       Service revenues     Device Solutions$505 $821  $1,154 $1,305 Networked Solutions 30,037  29,453   59,553  57,663 Outcomes 63,516  59,303   127,554  114,619 Resiliency Solutions 15,382  —   30,360  — Total Company$109,440 $89,577  $218,621 $173,587       Total revenues     Device Solutions$111,445 $112,760  $235,822 $238,631 Networked Solutions 339,238  408,934   689,901  811,666 Outcomes 96,399  85,067   192,309  163,615 Resiliency Solutions 15,820  —   31,852  — Total Company$562,902 $606,761  $1,149,884 $1,213,912       Adjusted gross profit     Device Solutions$38,759 $33,591  $82,778 $71,344 Networked Solutions 145,154  157,243   288,227  305,957 Outcomes 37,380  32,784   77,404  63,536 Resiliency Solutions$11,917 $—   23,615  — Total Company$233,210 $223,618  $472,024 $440,837       Adjusted segment operating income     Device Solutions$31,521 $25,454  $68,413 $55,925 Networked Solutions 112,061  120,999   222,197  237,108 Outcomes 20,542  15,687   42,897  30,017 Resiliency Solutions 4,376  —   8,707  — Total Company$168,500 $162,140  $342,214 $323,050       Adjusted Gross Margin 41.4% 36.9%  41.0% 36.3% ITRON, INC.CONSOLIDATED BALANCE SHEETS    (Unaudited, in thousands)June 30, 2026 December 31, 2025ASSETS   Current assets   Cash and cash equivalents$745,229  $1,020,397 Accounts receivable, net 351,109   367,794 Inventories 258,727   242,886 Other current assets 194,456   191,241 Total current assets 1,549,521   1,822,318     Property, plant, and equipment, net 121,590   112,193 Deferred tax assets, net 271,513   265,183 Other long-term assets 60,694   63,352 Operating lease right-of-use assets, net 33,359   29,341 Intangible assets, net 266,076   83,337 Goodwill 1,690,791   1,344,983 Total assets$3,993,544  $3,720,707     LIABILITIES AND EQUITY   Current liabilities   Accounts payable$146,726  $156,288 Other current liabilities 55,135   58,864 Wages and benefits payable 96,649   122,245 Taxes payable 24,746   16,618 Current portion of debt, net —   459,522 Current portion of warranty 10,871   10,868 Unearned revenue 230,098   187,822 Total current liabilities 564,225   1,012,227     Long-term debt, net 1,575,242   788,805 Long-term warranty 7,078   7,350 Pension benefit obligation 59,874   61,998 Deferred tax liabilities, net 1,387   623 Operating lease liabilities 26,092   19,623 Other long-term obligations 121,519   91,885 Total liabilities 2,355,417   1,982,511     Equity   Common stock 1,472,138   1,661,350 Accumulated other comprehensive loss, net (74,421)  (56,505)Retained earnings 218,482   111,751 Total Itron, Inc. shareholders' equity 1,616,199   1,716,596 Noncontrolling interests 21,928   21,600 Total equity 1,638,127   1,738,196 Total liabilities and equity$3,993,544  $3,720,707  ITRON, INC.CONSOLIDATED STATEMENTS OF CASH FLOWS    (Unaudited, in thousands)Six Months Ended June 30,  2026   2025 Operating activities   Net income$107,059  $134,102 Adjustments to reconcile net income to net cash provided by operating activities:   Depreciation and amortization of intangible assets 37,162   24,182 Non-cash operating lease expense 6,576   5,843 Stock-based compensation 32,316   33,396 Amortization of prepaid debt fees 3,791   3,581 Deferred taxes, net (18,684)  (9,664)Loss on sale of business —   79 Restructuring, non-cash 462   (25)Other adjustments, net (3,538)  (354)Changes in operating assets and liabilities, net of acquisition and sale of business:   Accounts receivable 23,280   18,789 Inventories (17,956)  (7,413)Other current assets (5,295)  6,409 Other long-term assets 3,117   3,479 Accounts payable, other current liabilities, and taxes payable (9,259)  (31,868)Wages and benefits payable (28,092)  (34,884)Unearned revenue 50,859   46,431 Warranty (243)  (1,876)Restructuring (6,921)  (10,252)Other operating, net (1,042)  (11,153)Net cash provided by operating activities 173,592   168,802     Investing activities   Acquisitions of property, plant, and equipment (13,132)  (10,656)Business acquisitions, net of cash and cash equivalents acquired (515,055)  — Other investing, net 3,088   5 Net cash used in investing activities (525,099)  (10,651)    Financing activities   Proceeds from borrowings 805,000   — Payments on debt (460,000)  — Issuance of common stock 1,969   5,436 Payments on call spread for convertible offering (92,817)  — Repurchase of common stock (152,234)  — Prepaid debt fees (21,525)  (178)Other financing, net (514)  (507)Net cash provided by financing activities 79,879   4,751     Effect of foreign exchange rate changes on cash and cash equivalents (3,540)  10,118 Increase (decrease) in cash and cash equivalents (275,168)  173,020 Cash and cash equivalents at beginning of period 1,020,397   1,051,237 Cash and cash equivalents at end of period$745,229  $1,224,257          About Non-GAAP Financial Measures

To supplement our consolidated financial statements, which are prepared in accordance with GAAP, we use certain non-GAAP financial measures, including non-GAAP operating expense, non-GAAP operating income, non-GAAP net income, non-GAAP diluted EPS, adjusted EBITDA, free cash flow, adjusted gross profit, adjusted operating income, and constant currency. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP, and other companies may define such measures differently. For a reconciliation of each non-GAAP measure to the most comparable financial measure prepared and presented in accordance with GAAP, please see the table captioned Reconciliations of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measures.
        

We use these non-GAAP financial measures for financial and operational decision making and/or as a means for determining executive compensation. Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our performance and ability to service debt by excluding certain expenses that may not be indicative of our recurring core operating results. These non-GAAP financial measures facilitate management's internal comparisons to our historical performance, as well as comparisons to our competitors' operating results. Our executive compensation plans exclude non-cash charges related to amortization of intangibles and depreciation of property, plant, and equipment and certain discrete cash and non-cash charges, such as restructuring, loss on sale of business, strategic initiative expenses, or acquisition and integration related expenses. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when planning, forecasting and analyzing future periods. We believe these non-GAAP financial measures are useful to investors because they provide greater transparency with respect to key metrics used by management in its financial and operational decision making and because they are used by our institutional investors and the analyst community to analyze the health of our business.

Non-GAAP operating expenses and non-GAAP operating income – We define non-GAAP operating expenses as operating expenses excluding certain expenses related to the amortization of intangible assets, restructuring, loss on sale of business, strategic initiative expenses, and acquisition and integration related expenses. We define non-GAAP operating income as operating income excluding the expenses related to the amortization of intangible assets, restructuring, loss on sale of business, strategic initiative expenses, and acquisition and integration related expenses. Acquisition and integration related expenses include costs, which are incurred to affect and integrate business combinations, such as professional fees; certain employee retention and salaries related to integration; employee severance; contract terminations; travel costs related to knowledge transfer; system conversion costs; and asset impairment charges. We consider these non-GAAP financial measures to be useful metrics for management and investors because they exclude the effect of expenses that are not related to our core operating results. By excluding these expenses, we believe that it is easier for management and investors to compare our financial results over multiple periods and analyze trends in our operations. For example, in certain periods, expenses related to amortization of intangible assets may decrease, which would improve GAAP operating margins, yet the improvement in GAAP operating margins due to this lower expense is not necessarily reflective of an improvement in our core business. There are some limitations related to the use of non-GAAP operating expenses and non-GAAP operating income versus operating expenses and operating income calculated in accordance with GAAP. We compensate for these limitations by providing specific information about the GAAP amounts excluded from non-GAAP operating expense and non-GAAP operating income and evaluating non-GAAP operating expense and non-GAAP operating income together with GAAP operating expense and operating income.

Non-GAAP net income and non-GAAP diluted EPS – We define non-GAAP net income as net income attributable to Itron, Inc. excluding the expenses associated with amortization of intangible assets, amortization of debt placement fees, restructuring, loss on sale of business, strategic initiative expenses, acquisition and integration related expenses, gain on sale of equity method investment, and the tax effect of excluding these expenses. We define non-GAAP diluted EPS as non-GAAP net income divided by diluted weighted-average shares outstanding during the period calculated on a GAAP basis and then reduced to reflect any anti-dilutive impact of the convertible notes hedge transactions. We consider these financial measures to be useful metrics for management and investors for the same reasons that we use non-GAAP operating income. The same limitations described above regarding our use of non-GAAP operating income apply to our use of non-GAAP net income and non-GAAP diluted EPS. We compensate for these limitations by providing specific information regarding the GAAP amounts excluded from these non-GAAP measures and evaluating non-GAAP net income and non-GAAP diluted EPS together with GAAP net income attributable to Itron, Inc. and GAAP diluted EPS.

For interim periods the budgeted annual effective tax rate (AETR) is used, adjusted for any discrete items, as defined in Accounting Standards Codification (ASC) 740 - Income Taxes. The budgeted AETR is determined at the beginning of the fiscal year. The AETR is revised throughout the year based on changes to our full-year forecast. If the revised AETR increases or decreases by 200 basis points or more from the budgeted AETR due to changes in the full-year forecast during the year, the revised AETR is used in place of the budgeted AETR beginning with the quarter the 200 basis point threshold is exceeded and going forward for all subsequent interim quarters in the year. We continue to assess the AETR based on latest forecast throughout the year and use the most recent AETR any time it increases or decreases by 200 basis points or more from the prior interim period.

Adjusted EBITDA – We define adjusted EBITDA as net income (a) minus interest income and gain on sale of equity method investment, (b) plus interest expense, depreciation and amortization, restructuring, loss on sale of business, strategic initiative expenses, acquisition and integration related expenses, and (c) excluding income tax provision or benefit. Management uses adjusted EBITDA as a performance measure for executive compensation. A limitation to using adjusted EBITDA is that it does not represent the total increase or decrease in the cash balance for the period and the measure includes some non-cash items and excludes other non-cash items. Additionally, the items that we exclude in our calculation of adjusted EBITDA may differ from the items that our peer companies exclude when they report their results. We compensate for these limitations by providing a reconciliation of this measure to GAAP net income.

Free cash flow – We define free cash flow as net cash provided by operating activities less cash used for acquisitions of property, plant and equipment. We believe free cash flow provides investors with a relevant measure of liquidity and a useful basis for assessing our ability to fund our operations and repay our debt. The same limitations described above regarding our use of adjusted EBITDA apply to our use of free cash flow. We compensate for these limitations by providing specific information regarding the GAAP amounts in the reconciliation.

Adjusted gross profit – We define adjusted gross profit as gross profit excluding the amortization expense of core-developed technology intangible assets.

Adjusted operating income – We define adjusted operating income as operating income excluding the amortization of core-developed technology intangible assets.

Constant currency – We refer to the impact of foreign currency exchange rate fluctuations in our discussions of financial results, which references the differences between the foreign currency exchange rates used to translate operating results from the entity's functional currency into U.S. dollars for financial reporting purposes. We also use the term "constant currency", which represents financial results adjusted to exclude changes in foreign currency exchange rates as compared with the rates in the comparable prior year period. We calculate the constant currency change as the difference between the current period results and the comparable prior period's results restated using current period foreign currency exchange rates.

The tables below reconcile the non-GAAP financial measures of operating expenses, operating income, net income, diluted EPS, adjusted EBITDA, and free cash flow with the most directly comparable GAAP financial measures.

ITRON, INC.RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURESTO THE MOST DIRECTLY COMPARABLE GAAP FINANCIAL MEASURES(Unaudited, in thousands, except per share data)     TOTAL COMPANY RECONCILIATIONSThree Months Ended June 30, Six Months Ended June 30,  2026  2025   2026  2025 NON-GAAP OPERATING EXPENSES     GAAP operating expenses$154,574 $147,205  $323,316 $288,211 Amortization of intangible assets(1) (8,478) (4,543)  (16,650) (9,022)Restructuring (233) (1,237)  (447) (684)Loss on sale of business —  —   —  (79)Strategic initiative (455) —   (475) — Acquisition and integration (1,252) (33)  (7,229) (84)Non-GAAP operating expenses$144,156 $141,392  $298,515 $278,342       NON-GAAP OPERATING INCOME     GAAP operating income$76,066 $76,413  $143,643 $152,626 Amortization of intangible assets 11,048  4,543   21,715  9,022 Restructuring 233  1,237   447  684 Loss on sale of business —  —   —  79 Strategic initiative 455  —   475  — Acquisition and integration 1,252  33   7,229  84 Non-GAAP operating income$89,054 $82,226  $173,509 $162,495       NON-GAAP NET INCOME & DILUTED EPS     GAAP net income attributable to Itron, Inc.$53,272 $68,340  $106,731 $133,814 Amortization of intangible assets 11,048  4,543   21,715  9,022 Amortization of debt placement fees 1,925  1,757   3,755  3,494 Restructuring 233  1,237   447  684 Loss on sale of business —  —   —  79 Strategic initiative 455  —   475  — Gain on sale of equity method investment (3,249) —   (3,249) — Acquisition and integration 1,252  33   7,229  84 Income tax effect of non-GAAP adjustments 5,791  (796)  1,316  (1,953)Non-GAAP net income attributable to Itron, Inc.$70,727 $75,114  $138,419 $145,224       Non-GAAP diluted EPS$1.59 $1.62  $3.07 $3.14 Non-GAAP weighted average common shares outstanding - Diluted 44,608  46,380   45,038  46,276        (1)   Excludes amortization of core-developed technology intangible assets.

ITRON, INC.RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURESTO THE MOST DIRECTLY COMPARABLE GAAP FINANCIAL MEASURES(Unaudited, in thousands)     TOTAL COMPANY RECONCILIATIONSThree Months Ended June 30, Six Months Ended June 30,  2026  2025   2026  2025 ADJUSTED EBITDA     GAAP net income attributable to Itron, Inc.$53,272 $68,340  $106,731 $133,814 Interest income (6,253) (12,303)  (11,913) (24,013)Interest expense 5,768  5,648   11,577  11,241 Income tax provision 26,733  14,730   40,342  31,659 Depreciation and amortization 18,626  12,114   37,162  24,182 Restructuring 233  1,237   447  684 Loss on sale of business —  —   —  79 Strategic initiative 455  —   475  — Acquisition and integration 1,252  33   7,229  84 Gain on sale of equity method investment (3,249) —   (3,249) — Adjusted EBITDA$96,837 $89,799  $188,801 $177,730       FREE CASH FLOW     Net cash provided by operating activities$88,091 $96,685  $173,592 $168,802 Acquisitions of property, plant, and equipment (6,605) (6,017)  (13,132) (10,656)Free Cash Flow$81,486 $90,668  $160,460 $158,146  The tables below reconcile the non-GAAP financial measure of adjusted gross profit with the most directly comparable GAAP financial measure.

TOTAL COMPANY RECONCILIATIONS Three months ended June 30, 2026(Unaudited, in thousands) Device
Solutions Networked
Solutions Outcomes Resiliency
Solutions Segments
SubtotalTotal revenues $111,445  $339,238  $96,399  $15,820  $562,902 Total cost of revenues  72,686   194,084   59,644   5,848   332,262 Gross profit  38,759   145,154   36,755   9,972   230,640 Gross margin  34.8%  42.8%  38.1%  63.0%  41.0%Amortization of core-developed technology intangible assets $—  $—  $625  $1,945  $2,570 Adjusted gross profit  38,759   145,154   37,380   11,917   233,210 Adjusted gross margin  34.8%  42.8%  38.8%  75.3%  41.4%             Three Months Ended June 30, 2025  (Unaudited, in thousands) Device
Solutions Networked
Solutions Outcomes Segments
Subtotal  Total revenues $112,760  $408,934  $85,067  $606,761   Total cost of revenues  79,169   251,691   52,283   383,143   Gross profit  33,591   157,243   32,784   223,618   Gross margin  29.8%  38.5%  38.5%  36.9%  Amortization of core-developed technology intangible assets $—  $—  $—  $—   Adjusted gross profit  33,591   157,243   32,784   223,618   Adjusted gross margin  29.8%  38.5%  38.5%  36.9%             TOTAL COMPANY RECONCILIATIONS Six months ended June 30, 2026(Unaudited, in thousands) Device
Solutions Networked
Solutions Outcomes Resiliency
Solutions Segments
SubtotalTotal revenues $235,822  $689,901  $192,309  $31,852  $1,149,884 Total cost of revenues  153,044   401,674   116,155   12,052   682,925 Gross profit  82,778   288,227   76,154   19,800   466,959 Gross margin  35.1%  41.8%  39.6%  62.2%  40.6%Amortization of core-developed technology intangible assets $—  $—  $1,250  $3,815  $5,065 Adjusted gross profit  82,778   288,227   77,404   23,615   472,024 Adjusted gross margin  35.1%  41.8%  40.2%  74.1%  41.0%             Six Months Ended June 30, 2025  (Unaudited, in thousands) Device
Solutions Networked
Solutions Outcomes Segments
Subtotal  Total revenues $238,631  $811,666  $163,615  $1,213,912   Total cost of revenues  167,287   505,709   100,079   773,075   Gross profit  71,344   305,957   63,536   440,837   Gross margin  29.9%  37.7%  38.8%  36.3%  Amortization of core-developed technology intangible assets $—  $—  $—  $—   Adjusted gross profit  71,344   305,957   63,536   440,837   Adjusted gross margin  29.9%  37.7%  38.8%  36.3%  

Polaris Inc (PII - Free Report) came out with quarterly earnings of $1.97 per share, beating the Zacks Consensus Estimate of $0.77 per share. This compares to earnings of $0.4 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +155.84%. A quarter ago, it was expected that this snowmobile and ATV maker would post a loss of $0.43 per share when it actually produced earnings of $0.13, delivering a surprise of +130.23%.

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

Polaris Inc, which belongs to the Zacks Automotive - Domestic industry, posted revenues of $2.02 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 2.51%. This compares to year-ago revenues of $1.85 billion. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Polaris Inc shares have added about 18.1% since the beginning of the year versus the S&P 500's gain of 8.3%.

What's Next for Polaris Inc?While Polaris Inc has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Polaris Inc was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.74 on $1.88 billion in revenues for the coming quarter and $1.76 on $7.32 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Automotive - Domestic is currently in the top 33% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Xos, Inc. (XOS - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026.

This company is expected to post quarterly loss of $0.60 per share in its upcoming report, which represents a year-over-year change of +34.1%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Xos, Inc.'s revenues are expected to be $12.14 million, down 34% from the year-ago quarter.

Expro Group Holdings (XPRO - Free Report) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of $0.13 per share. This compares to earnings of $0.16 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +15.39%. A quarter ago, it was expected that this oil and gas pipe provider would post a loss of $0.07 per share when it actually produced earnings of $0.09, delivering a surprise of +228.57%.

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

Expro Group Holdings, which belongs to the Zacks Oil and Gas - Production and Pipelines industry, posted revenues of $393.18 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 3.74%. This compares to year-ago revenues of $422.74 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Expro Group Holdings shares have added about 17.4% since the beginning of the year versus the S&P 500's gain of 8.3%.

What's Next for Expro Group Holdings?While Expro Group Holdings has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Expro Group Holdings was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.28 on $406 million in revenues for the coming quarter and $0.84 on $1.58 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Production and Pipelines is currently in the bottom 14% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Williams Companies, Inc. (The) (WMB - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on August 3.

This pipeline operator is expected to post quarterly earnings of $0.52 per share in its upcoming report, which represents a year-over-year change of +13%. The consensus EPS estimate for the quarter has been revised 0.9% lower over the last 30 days to the current level.

Williams Companies, Inc. (The)'s revenues are expected to be $3.08 billion, up 10.8% from the year-ago quarter.

When a stock surges more than eightfold in just five years, it's understandable that some investors wonder if they've missed the party. When the name in question is a utility stock, that wonderment is probably heightened because "conventional wisdom" says utility stocks aren't supposed to notch gains like that.

But that's exactly what Vistra (VST -3.86%) did. Proving that the artificial intelligence (AI) trade often acts as a rising tide that lifts even boring boats, Vistra is up a staggering 720% over the past five years. Nearly all of that bullishness was accrued before the start of 2026. This year, Vistra stock is down about 3% amid a somewhat volatile half-year of trading.

This utility stock has been fueled by the AI boom. It may have more upside ahead. Image source: Getty Images.

That may be more of a sign that the utility is taking a well-deserved break than that its bull run is over. Vistra still commands a prominent position in two marquee data center markets, suggesting the utility may have the energy to drive more long-term upside.

Vistra at the right place at the right time Vistra's ascent into the pantheon of story stocks is all the more remarkable when considering it's the entity that emerged from the bankruptcy of Energy Future Holdings a decade ago. Today, Vistra has a dominant market position in the power generation fleet industry, positioning it to capitalize on the AI power boom.

Hyperscalers, such as Meta Platforms, are taking notice. So are well-known professional investors. The point is that many market participants now view Vistra and a small number of its competitors not as stodgy utilities, but rather as key purveyors of AI infrastructure. That status is great when the AI trade is working, but that trade gives and takes away. With AI stocks taking a breather, Vistra is following suit. The stock is off about 4.5% over the past three months.

That's a minor "dip" in the context of its five-year run, but it may be a reason for long-term investors to put Vistra on their watch lists. Near-term stock headwinds aren't altering projections that hyperscalers will spend $700 billion this year. Nor does Vistra's recent sluggishness change the fact that hyperscalers ink long-term contracts with the company, providing investors with coveted revenue clarity.

Today's Change

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-3.86

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-6.30

Current Price

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157.08

Another point to consider: While Vistra is seemingly joined at the hip with the AI trade, there's more to the story, and that "more" can defray some AI-related risks. For example, Vistra is seen as a beneficiary of increased demand for electric vehicles, oilfield electrification, and the return of more manufacturing jobs to the U.S.

Dividend growth potential In utilities-sector terms, Vistra's dividend yield of nearly 0.6% is below average, but yield doesn't tell the entire story. This is a company with blue chip dividend stock potential because it's expected to return $3 billion combined this year and in 2027 across buybacks and dividends.

Vistra is already proving to be a dividend growth powerhouse. It initiated that payout in 2019 at $0.50 a share, and it's nearly doubled since then.

Additionally, the utility has investment-grade credit ratings from Fitch and S&P, and its cash-flow trajectory supports reinvestment in the business. So even if Vistra needs to tap capital markets, it can do so cost-effectively. It probably doesn't need to over the near term due to strong capital allocation practices and cash flow, which should be music to the ears of long-term investors.

HomeStock IdeasLong IdeasEnergy Analysis

SummaryEnergy Transfer is upgraded to Strong Buy as project execution risks diminish and EBITDA guidance rises, with no valuation expansion since March.Q1 EBITDA grew ~20% YoY to ~$4.9b, with underlying structural growth and a raised full-year EBITDA guidance to $18.4b–$18.6b.Major projects, including NGL de-bottlenecking and the Hugh Brinson Pipeline, are tracking ahead or on schedule, supporting further EBITDA accretion.Valuation remains compressed at ~8.55x EV/EBITDA, while upcoming project milestones and sustained distribution coverage position ET for potential rerating. matejmo/iStock via Getty Images

In March I had rated Energy Transfer (ET) a Buy and had stopped just short of a Strong Buy because I was watching progress in the large capex builds underway at

4.78K Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

GE HealthCare Technologies (NASDAQ:GEHC – Get Free Report) is anticipated to post its Q2 2026 results before the market opens on Wednesday, July 29th. Analysts expect GE HealthCare Technologies to post earnings of $1.04 per share and revenue of $5.2637 billion for the quarter. GE HealthCare Technologies has set its FY 2026 guidance at 4.800-5.000 EPS. Interested persons may review the information on the company’s upcoming Q2 2026 earning report page for the latest details on the call scheduled for Wednesday, July 29, 2026 at 8:30 AM ET.

GE HealthCare Technologies (NASDAQ:GEHC – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.08). The company had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.04 billion. GE HealthCare Technologies had a net margin of 9.10% and a return on equity of 20.46%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.01 EPS. On average, analysts expect GE HealthCare Technologies to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

GE HealthCare Technologies Stock Up 0.9% Shares of GEHC opened at $61.12 on Tuesday. The company has a market cap of $27.80 billion, a PE ratio of 14.62, a P/E/G ratio of 1.65 and a beta of 0.72. The business has a fifty day moving average of $63.63 and a 200 day moving average of $70.96. GE HealthCare Technologies has a 52-week low of $58.75 and a 52-week high of $89.77. The company has a quick ratio of 0.95, a current ratio of 1.22 and a debt-to-equity ratio of 0.95.

GE HealthCare Technologies Announces Dividend The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 24th will be given a dividend of $0.035 per share. The ex-dividend date is Friday, July 24th. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. GE HealthCare Technologies’s payout ratio is 3.35%.

Insiders Place Their Bets In other GE HealthCare Technologies news, Director Kevin Lobo acquired 10,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were purchased at an average cost of $64.18 per share, for a total transaction of $641,800.00. Following the completion of the purchase, the director owned 14,363 shares in the company, valued at approximately $921,817.34. This trade represents a 229.20% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO James Saccaro acquired 3,310 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were acquired at an average cost of $60.60 per share, for a total transaction of $200,586.00. Following the completion of the acquisition, the chief financial officer owned 87,471 shares of the company’s stock, valued at $5,300,742.60. This trade represents a 3.93% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 21,847 shares of company stock worth $1,361,355. 0.36% of the stock is owned by corporate insiders.

Institutional Trading of GE HealthCare Technologies A number of hedge funds have recently bought and sold shares of the stock. Dodge & Cox boosted its position in GE HealthCare Technologies by 13.4% during the 4th quarter. Dodge & Cox now owns 31,211,229 shares of the company’s stock valued at $2,559,945,000 after acquiring an additional 3,693,918 shares in the last quarter. State Street Corp increased its holdings in shares of GE HealthCare Technologies by 2.0% in the 4th quarter. State Street Corp now owns 20,049,677 shares of the company’s stock valued at $1,644,475,000 after acquiring an additional 401,932 shares during the period. Hotchkis & Wiley Capital Management LLC raised its position in shares of GE HealthCare Technologies by 17.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,432,374 shares of the company’s stock worth $633,271,000 after acquiring an additional 1,232,828 shares in the last quarter. Invesco Ltd. raised its position in shares of GE HealthCare Technologies by 1.6% in the 4th quarter. Invesco Ltd. now owns 7,003,172 shares of the company’s stock worth $574,400,000 after acquiring an additional 112,028 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of GE HealthCare Technologies during the 4th quarter worth $533,655,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes Several brokerages have recently weighed in on GEHC. Zacks Research downgraded shares of GE HealthCare Technologies from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 21st. Mizuho dropped their price target on shares of GE HealthCare Technologies from $90.00 to $80.00 in a research note on Thursday, April 30th. JPMorgan Chase & Co. cut their price target on shares of GE HealthCare Technologies from $80.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. BMO Capital Markets started coverage on shares of GE HealthCare Technologies in a research report on Wednesday, July 8th. They issued a “market perform” rating and a $70.00 price objective on the stock. Finally, Wells Fargo & Company decreased their price objective on shares of GE HealthCare Technologies from $97.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Ten analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, GE HealthCare Technologies has an average rating of “Hold” and a consensus price target of $76.41.

View Our Latest Analysis on GEHC

About GE HealthCare Technologies (Get Free Report)

GE HealthCare Technologies (NASDAQ: GEHC) is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.

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Textron (TXT - Free Report) came out with quarterly earnings of $1.62 per share, beating the Zacks Consensus Estimate of $1.52 per share. This compares to earnings of $1.55 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +6.58%. A quarter ago, it was expected that this maker of Cessna small planes and Bell helicopters would post earnings of $1.3 per share when it actually produced earnings of $1.45, delivering a surprise of +11.54%.

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

Textron, which belongs to the Zacks Aerospace - Defense industry, posted revenues of $3.83 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.15%. This compares to year-ago revenues of $3.72 billion. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Textron shares have added about 10.3% since the beginning of the year versus the S&P 500's gain of 8.3%.

What's Next for Textron?While Textron has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Textron was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.68 on $3.82 billion in revenues for the coming quarter and $6.60 on $15.56 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Aerospace - Defense is currently in the bottom 42% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Joby Aviation, Inc. (JOBY - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on August 5.

This company is expected to post quarterly loss of $0.21 per share in its upcoming report, which represents a year-over-year change of +12.5%. The consensus EPS estimate for the quarter has been revised 1.2% lower over the last 30 days to the current level.

Joby Aviation, Inc.'s revenues are expected to be $28.97 million, up 289550% from the year-ago quarter.

Vancouver, British Columbia--(Newsfile Corp. - July 28, 2026) - Cambria Gold Mines Inc. (TSXV: CAMB) (OTCQX: CAMVF) ("Cambria" or the "Company") is pleased to announce additional assay results from the underground infill drilling program at the Prew Zone of the Premier-Northern Light deposit at the Premier Gold Project ("PGP" or the "Premier Project"), located near Stewart in northwestern British Columbia. Results from a total of 3,151 metres over 42 underground drillholes are reported herein. Highlight results include:

24.36 g/t Au over 6.3 m (incl. 76.70 g/t Au over 1.8 m) in hole P26U-002313.17 g/t Au over 10.6 m (incl. 64.66 g/t Au over 1.9 m) in hole P26U-00268.31 g/t Au over 11.0 m (incl. 22.13 g/t Au over 2.8 m & 17.70 g/t Au over 1.0 m) in hole P26U-00333.30 g/t Au over 25.0 m (incl. 42.90 g/t Au over 1.0 m) in hole P26U-00347.89 g/t Au over 8.0 m (incl. 17.00 g/t Au over 3.0 m) in hole P26U-0014"Drilling continues to define wide, high-grade areas as well as important understanding of post mineral faults at the Prew Zone; additional underground infill drilling will recommence subsequent to proposed additional underground development planned for Q4 at Premier-Northern Lights, located adjacent to the Company's 2,500 tonnes per day mill," said Robert McLeod, President and CEO of Cambria Gold Mines. "At the Silver Coin and Big Missouri deposits, our geological teams have remodelled wide zones of gold mineralization associated with contiguous quartz and sulphide breccias that were historically mined in the 1940s and 1990s. Infill drilling is underway on these structures."

The 2026 infill program at the Premier Project is focused on providing the drill spacing required for accurate mine planning and development decisions as Cambria advances toward a potential restart of the Premier mill and mining operations at the Premier and Red Mountain Projects. The Company believes that a significant contributor to the difficulties encountered during previous mining operations under Ascot Resources was the lack of sufficient definition drilling as well as accurate geological modelling prior to production.

Drilling at 12.5 metre average spacing is proving successful in defining continuity of higher-grade mineralization along a primary quartz-breccia sulfide domain identifiable both in drilling and the existing underground workings. Higher grades (>10 g/t Au) are often associated with visible gold or massive sulfide mineralization hosted in a wider halo of gold-bearing base metal sulfide mineralization. Sections shown in figures 3 and 4 illustrate the continuity of higher grades between drillholes on and along section. These appear to be analogous to what were defined as "ore shoots" during historic mining of the Premier-Northern Light Deposit.

The first phase of underground infill at the Prew Zone is now complete, with assay results from an additional 86 drill holes expected over the coming weeks. Once all assays have been returned, the information will be used to develop underground mining plans and guide additional infill drilling for the Prew Zone. The focus of the infill program has moved to two other priority deposits within the Premier Project, with three drills currently turning at the Silver Coin and Big Missouri deposits. Similar to the drilling at Prew Zone, high priority zones at each deposit will be drilled with a tight spacing utilizing surface drill platforms.

Figure 1: Plan map of Premier-Northern Light (PNL) deposit showing the Prew Zone and drill traces of previously released 2026 drill holes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4267/306784_00963dc314bb5871_001full.jpg

Figure 2: Plan map showing Prew Zone Underground workings and drill plan.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4267/306784_00963dc314bb5871_002full.jpg

Figure 3: Cross section A of Prew Zone drilling. Showing mineralized zones represented by composites calculated at 1 g/t and 10g/t Au cut off grade. Primary breccia domain shown in blue.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4267/306784_00963dc314bb5871_003full.jpg

Figure 4: Cross section B of Prew Zone drilling. Showing mineralized zones represented by composites calculated at 1 g/t and 10g/t Au cut off grade. Primary breccia domain shown in blue.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4267/306784_00963dc314bb5871_004full.jpg

Table 1: Drill Results – Significant Intersections:

Hole IDfrom
(m)to
(m)Interval
(m)Au
(ppm)Ag
(ppm)Zn
(ppm)Pb
(ppm)ETW1Including (>10g/t)P26U-001434.042.08.07.8914.83620422756%17.00 g/t Au over 3.0 mP26U-001458.066.08.02.415.24944271156%
P26U-001611.012.01.010.2017.54550234083%
P26U-001638.047.09.07.2413.27504335083%12.93 g/t Au over 3.0 mP26U-001737.043.06.01.854.23967116571%
P26U-001747.077.030.01.725.53193159871%
P26U-001851.054.53.55.0716.68884404383%
P26U-001919.026.07.01.625.2201789693%
P26U-002013.019.06.02.937.675676298%
P26U-002028.039.011.04.7612.310912555698%10.45 g/t Au over 1.0 mP26U-002155.082.027.02.595.43960204761%11.65 g/t Au over 1.0 mP26U-002280.090.510.52.584.43693236545%
P26U-00236.59.53.03.422.163120592%
P26U-002333.239.56.324.3626.39762374292%76.70 g/t Au over 1.8 mP26U-002425.039.814.86.5211.75121263799%44.43 g/t Au over 1.4 m
14.70 g/t Au over 0.7mP26U-002526.034.08.012.0831.912775762392%48.94 g/t Au over 1.7 mP26U-002586.097.011.01.273.580330092%
P26U-0025102.4103.00.618.056.433426292%
P26U-002630.541.110.613.1729.911780658283%64.66 g/t Au over 1.9 mP26U-002732.538.66.113.1732.19093660174%80.10 g/t Au over 0.9 mP26U-002837.039.02.05.3116.911725864380%
P26U-002842.548.56.02.062.587935580%
P26U-002951.064.013.03.346.94591233759%29.80 g/t Au over 0.7 mP26U-003027.046.019.02.405.42525145295%15.00 g/t Au over 1 m
14.40 g/t Au over 1.0 mP26U-003053.054.01.016.107.2150557695%
P26U-003126.027.01.020.6015.96890458099%
P26U-003131.047.016.02.049.43804199299%
P26U-003184.989.14.22.532.7182039699%
P26U-003225.044.019.02.957.22861158092%27.40 g/t Au over 0.6 mP26U-003255.056.01.010.958.872552792%
P26U-003339.050.011.08.318.13964179583%22.13 g/t Au over 2.8 m
17.70 g/t Au over 1.0 mP26U-003365.069.04.06.226.5197192182%17.80 g/t Au over 1.0 mP26U-003443.068.025.03.305.12692130969%42.90 g/t Au over 1.0 mP26U-003533.047.014.02.619.68357560186%
P26U-003639.044.05.03.0415.711600853866%
P26U-003648.053.55.51.846.75132234166%
P26U-005510.019.09.01.925.82615135087%
P26U-005613.414.61.29.499.83400149597%
P26U-005922.028.06.01.903.5118267382%
P26U-00601.62.50.918.4033.22100107543%
P26U-00633.024.021.02.338.16271185522%16.50 g/t Au over 0.6 mP26U-006332.037.75.72.217.05499217722%
P26U-006343.664.020.41.202.680749722%
P26U-006370.078.08.03.4010.0128644822%
P26U-00642.09.07.05.3613.84952277894%27.00 g/t Au over 1.0 mP26U-00656.014.08.01.587.22884154888%
P26U-006630.037.67.61.374.62988171898%
P26U-00696.016.510.53.4910.84614267998%16.70 g/t Au over 0.8 mP26U-006940.549.79.24.446.95180204298%18.70 g/t Au over 1.5 mP26U-00706.514.88.35.4216.04632230186%14.10 g/t Au over 1.0 m
10.45 g/t Au over 1.0 mP26U-007034.043.09.01.584.6205195186%
P26U-00714.816.011.22.107.42565138862%
P26U-007335.046.011.02.043.1151576895%13.30 g/t Au over 1.0 m1 – ETW = Estimated True Width. All reported intervals are down-hole lengths, with true width estimates ranging from 22-99% of the reported interval. True widths are estimated based on the angle of the drill hole with the interpreted trend of the mineralized zones.

Composite Calculations for Significant Intersections
Composites for significant intersections were calculated using a 1 g/t gold (Au) cut off grade and maximum 3 metre internal waste. "Including" results are reported at a 10 g/t Au cut off grade with maximum 3 metre internal waste.

Table 2: Drill Collar Locations and Hole Orientations

Hole IDUTM East
(m)UTM North
(m)Elevation
(masl)Total Depth
(m)AzimuthDipP26U-00144371686213071317130.5300.1-62.5P26U-0015437168621307131757.8299.9-70.8P26U-0016437168621307131762.0300.5-83.7P26U-0017437166621308631890.5325.3-72.2P26U-0018437166621308631866.5326.1-83.2P26U-0019437167621308531869.5144.0-83.3P26U-0020437167621308431876.0145.2-68.6P26U-00214371666213086318116.0306.4-65.6P26U-00224371666213086318149.0309.8-55.2P26U-0023437189621309431765.0134.3-85.9P26U-0024437189621309431766.0135.4-61.8P26U-00254371896213094317111.0134.8-42.1P26U-0026437189621309431760.5135.1-30.6P26U-0027437189621309431771.0135.3-22.3P26U-0028437186621309631671.0315.5-81.1P26U-00294371866213096316101.0314.8-63.6P26U-0030437173621309231869.5135.1-79.2P26U-0031437175621308931892.0135.0-60.5P26U-0032437175621308931963.0135.4-41.4P26U-0033437175621308931971.0135.3-29.3P26U-0034437175621308932081.0136.2-16.9P26U-0035437172621309231877.0317.5-87.2P26U-0036437172621309331890.5315.4-68.7P26U-00374371716213093318107.0315.3-60.4P26U-0055437249621306733165.5142.4-36.4P26U-0056437244621305733168.5130.4-50.1P26U-0057437243621305833166.0130.7-74.5P26U-0058437268621304733355.0134.5-49.1P26U-0059437268621304733455.5135.1-28.3P26U-00604372686213047335100.0135.7-0.3P26U-0061437265621303133355.0134.6-69.7P26U-0062437265621303033355.0145.2-30.1P26U-0063437238621300833485.0142.813.0P26U-0064437238621300833150.0135.3-44.9P26U-0065437237621300933151.02.9-89.0P26U-0066437226621299333067.0134.7-70.6P26U-0067437226621299233152.0135.0-32.0P26U-0068437226621299233267.0135.3-11.5P26U-0069437233621304033166.0135.1-71.4P26U-0070437233621304033251.0134.7-32.6P26U-0071437233621304033267.0135.5-11.1P26U-0073437200621302033160.0134.8-46.1*masl – metres above sea level

Quality Assurance/Quality Control and Sample Preparation

All samples reported in this news release were obtained from NQ sized drill core. The Company maintains a rigorous sampling and QA/QC procedure for the 2026 drill program. Core samples are prepared at the ALS preparation lab in Terrace, BC. The samples are dried and then crushed to specifications of 70% passing 2mm. Crushed samples are riffle split to 1000g and pulverized to 85% passing 75µm.

Analytical work for all results is completed by ALS Canada Ltd. which maintains an internal quality assurance and quality control (QAQC) program and is ISO:17025 certified for the analytical methods used in this release. Pulp splits are sent directly from the Terrace preparation facility to the ALS Canada Ltd. geochemistry laboratory facility in North Vancouver for analysis. Each sample is analyzed for gold by conventional 50g fire assay with atomic absorption finish (Au-AA26) and multielement analysis by four-acid digest with an ICP finish (ME-ICP61).

Samples over 100ppm gold are re-analyzed by an overlimit 50g fire assay with a gravimetric finish (Au-GRA22). Samples over 100ppm silver are re-analyzed with an ore grade method (ME-OG62) which is a four-acid digest method followed by an ICP-AES finish (up to 1,500ppm). Samples over 1,500ppm silver trigger the overlimit silver fire assay method (Ag-GRA21) which uses a 30g aliquot and gravimetric finish. Sampling and storage activities are conducted at the Company's secure facility in Stewart, British Columbia.

The Company maintains a QAQC program that includes the submission and review of coarse blank materials to monitor contamination and certified reference materials to assess analytical accuracy. Core duplicates, crush duplicates and pulp duplicates are used to infer sampling precision and nugget effect.

Qualified Person and Technical Information:

The scientific and technical information within this news release was reviewed and approved by Blaine Smit, P.Geo. Vice President Exploration for Cambria Gold Mines Inc. Mr. Smit is a non-independent "Qualified Person" as defined under National Instrument 43-101. To verify the information related to this news release, Mr. Smit visited the 2026 drilling operations to review and discuss logging, sampling, and shipping procedures with responsible site staff, and reviewed and discussed assay and QA/QC results with responsible company personnel.

About Cambria Gold Mines

Cambria Gold Mines is a Canadian mining company headquartered in Vancouver, British Columbia, and its shares trade on the TSX-V under the ticker CAMB and on the OTCQX Market with the ticker CAMVF. Cambria is the 100% owner of the Premier Project and Red Mountain Gold Project that are located on Nisga'a Nation Treaty Lands, in the prolific Golden Triangle of northwestern British Columbia, as well as the large Mt. Margaret copper-gold porphyry deposit located in Washington State. For more information about the Company, please refer to the Company's profile on SEDAR+ at www.sedarplus.ca or visit the Company's web site at www.cambriagold.com.

On behalf of the Board of Directors of Cambria Gold Mines Inc.

Robert McLeod
CEO and Director

Cautionary Statements:

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Cautionary Statement Regarding Forward-Looking Information
All statements and other information contained in this press release about anticipated future events may constitute forward-looking information under Canadian securities laws ("forward-looking statements"). Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect", "targeted", "outlook", "on track" and "intend" and statements that an event or result "may", "will", "should", "could", "would" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein are forward-looking statements, including statements in respect of the drill results resulting in actual increases of resources and reserves; the timing and certainty of the restart of the Premier mill and mining operations at the Premier and Red Mountain Projects; the timing and outcome of additional assay results; ability of the Company to accomplish its business objectives and the intentions described herein; and future plans, development and operations of the Company. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements; risks relating to negative operating cash flows of the Company; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; environmental compliance; risks related to outstanding debt; uncertainty of estimates and projections relating to development, production, costs and expenses, and health, safety and environmental risks; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need to obtain additional financing to finance operations and uncertainty as to the availability and terms of future financing; social media and reputation; negative publicity; human rights; business objectives; shortage of personnel; health and safety; the possibility of delay in future plans and uncertainty of meeting anticipated program milestones; claims and legal proceedings; information systems and cyber security; internal controls; violation of anti-bribery or corruption laws; competition; tax considerations; compliance with listing standards; enforcement of civil liabilities; financing requirement risks; market price volatility of the common shares; uncertainty as to timely availability of permits and other governmental approvals; the need for exchange approval, and other regulatory approvals and other risk factors as detailed from time to time in Cambria's filings with Canadian securities regulators, available on Cambria's profile on SEDAR+ at www.sedarplus.ca including the Annual Management Discussion and Analysis of the Company for the year ended December 31, 2025 in the section entitled "Risk Factors". Forward-looking statements are based on assumptions made with regard to: the estimated costs associated with the care and maintenance plans; the tax rate applicable to the Company; future commodity prices; the grade of mineral resources and mineral reserves; labor and materials costs increasing on a basis consistent with the Company's current expectations, the ability of the Company to convert inferred mineral resources to other categories; the ability of the Company to reduce mining dilution; the ability to reduce capital costs; the ability of the Company to raise additional financing; currency exchange rates being approximately consistent with current levels, compliance with the covenants in Cambria's credit agreements; exploration plans; and general marketing, political, business and economic conditions. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Although Cambria believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Cambria can give no assurance that such expectations will prove to be correct. Cambria does not undertake any obligation to update forward-looking statements, other than as required by applicable laws. The forward-looking information contained in this press release is expressly qualified by this cautionary statement.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306784

Source: Cambria Gold Mines Inc.

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SAN DIEGO, July 28, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC today announced LPL Latitude, the company’s unified technology experience that connects the firm’s capabilities across data, cybersecurity, infrastructure resiliency, artificial intelligence, advisor workflows and end-investor applications.

“LPL Latitude is more than a technology system — it’s a strategic investment in the future of advice,” said Rich Steinmeier, CEO of LPL Financial. “By creating a unified foundation across our business, we are accelerating innovation, unlocking the power of AI and data, and delivering more seamless, intelligent experiences for advisors and their clients. As the industry evolves, this integrated technology helps ensure our advisors remain at the forefront of delivering exceptional advice.”

Over the last three years, LPL has invested nearly $2 billion in building the core pillars of Latitude, including a significant annual increase in cyber protections, reinforcing its commitment to protecting advisors, clients and data at every level. This year, LPL expects to introduce more than 35 major technology enhancements inside Latitude, representing the largest set of advanced features in the company’s history.

“LPL Latitude represents a step-change in how LPL delivers technology to advisors — at a time when expectations around security, personalization and digital experiences continue to rise,” added Greg Gates, LPL’s chief technology and information officer. “The LPL Latitude experience is agile and designed to scale alongside advisor needs. We’re continuing to champion advisors’ choice through our ClientWorks connected ecosystem, which leverages third-party applications, all while integrating agentic AI and strengthening protections. As the name implies, Latitude will provide both flexibility and guided direction to help advisors run efficient, secure and successful businesses.”

LPL Latitude is anchored in five core strengths:

Connected Data Architecture 
LPL’s position as a self-clearing, broker-dealer and custodian gives the firm a dynamic advantage in creating one of the most vertically integrated data ecosystems in wealth management — turning information into actionable insight that can improve outcomes. For example, LPL’s comprehensive data-driven framework is the foundation of its Advisor Growth System, which helps advisors and institutions benchmark their performance, identify growth opportunities and execute strategic improvements with LPL's support. The Advisor Growth System is available at no cost to LPL advisors and institutions.

Secure, Resilient Infrastructure
Enterprise-grade security is embedded throughout LPL Latitude, supported by increased cybersecurity investments to meet evolving risk and regulatory expectations. Key enhancements include the LPL Business Browser, which strengthens security controls while enabling future AI-powered capabilities; phishing-resistant multi-factor authentication; and data-minimization initiatives that help reduce risk and protect sensitive information. Since the firm started deploying the LPL Business Browser earlier this year, it has blocked thousands of cyberattacks on advisors’ systems to date.

Agentic AI, Embedded in Workflows
AI capabilities will be integrated directly into how advisors work — not bolted on — helping reduce friction, automate tasks and guide decision-making in real time. A core asset of LPL Latitude is Cyan, LPL’s AI agent designed to operate across advisor workflows and deliver contextual, real-time intelligence. Cyan is being built to reduce complexity and unlock advisor capacity — quietly working behind the scenes to surface insights, automate routine tasks and support informed decisions. Initial capabilities will focus on high-impact use cases, including:

Conversational generative AI for workflow support and guidanceAgentic automation for account maintenanceRecommendations for growing an advisor’s practice based on performance dataAI-generated financial planning insights and summaries These early applications, all of which will launch later this year, demonstrate how AI can enhance — not replace — the advisor, enabling more personalized and proactive experiences.

Advanced Advisor Operating System
LPL’s ClientWorks advisor operating system is built on a resilient infrastructure and is scalable for incremental innovation. Among the operating system upgrades coming as part of the major enhancements this year, the company plans to launch single client relationship agreements and a mobile app for its operating platform, simplifying the account opening process and supporting advisors on the go. 

Enhanced End-Investor Applications
Account View, LPL's investor digital experience, will expand with new digital capabilities that make it easier for clients to securely access information, complete key tasks and stay connected to their financial plans, including enhanced self-service features such as secure document sharing, income and distribution tracking, integrated eSignature and financial planning connectivity.

At the LPL Focus 2026 conference next month, which is among the largest gatherings of financial professionals in the world, the company plans to feature the core pillars of Latitude including cybersecurity enhancements and demonstrations of Cyan’s advanced agentic workflows.

About LPL Financial

LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.3 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com/.

Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment adviser and broker-dealer. Member FINRA/SIPC.

Throughout this communication, the terms "financial advisors" and "advisors" are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.

We routinely disclose information that may be important to shareholders in the "Investor Relations" or "Press Releases" section of our website.

Forward-Looking Statements

Certain of the statements included in this release, such as those regarding the expected introduction of operational and technological capabilities and enhancements, and the anticipated benefits of the Latitude platform, including the Cyan AI agent, constitute forward-looking statements. Words such as “expects,” “believes,” “anticipates,” “plans,” “assumes,” “estimates,” “projects,” “intends,” “should,” “will,” “shall” or variations of such words are generally part of forward-looking statements. Forward-looking statements are made based on current expectations and beliefs concerning future developments and their potential effects on LPL Financial. In particular, no assurance can be provided that all currently anticipated enhancements will be made this year or at all; that Cyan will launch as anticipated; and that the Latitude platform, including Cyan, will deliver the expected benefits to individual advisors and end-clients. These forward-looking statements are not a guarantee of future performance and involve risks and uncertainties, including economic, legislative, regulatory, competitive and other factors, and there are certain important factors that could cause actual results or the timing of events to differ, possibly materially, from expectations or estimates expressed or implied in such forward-looking statements. Important factors that could cause or contribute to such differences include: difficulties in developing new technologies and integrating them into our business; changes in general economic and financial market conditions, including retail investor sentiment; the effects of competition in the financial services industry and the success of LPL Financial in attracting and retaining financial advisors and institutions, and their ability to market financial products and services effectively; the effect of current, pending and future legislation, regulation and regulatory actions, including disciplinary actions imposed by federal and state regulators and self-regulatory organizations; and the execution of LPL Financial's plans and its success in realizing the synergies, expense savings, service improvements or efficiencies expected to result from its investments, initiatives and acquisitions, expense plans and technology initiatives. Certain additional important factors that could cause actual results or the timing of events to differ, possibly materially, from expectations or estimates expressed or implied in such forward-looking statements can be found in the “Risk Factors” and “Special Note Regarding Forward-Looking Statements” sections included in LPL Financial Holdings Inc.’s most recent Annual Report on Form 10-K. Except as required by law, LPL Financial does not undertake to update any particular forward-looking statement included in this document as a result of developments occurring after the date of this press release.

Media Contact: 
[email protected] 

Tracking # 1145771

Shelton, CT, July 28, 2026 (GLOBE NEWSWIRE) --

HUBBELL REPORTS SECOND QUARTER 2026 RESULTS 

Q2 diluted EPS of $4.52; adjusted diluted EPS of $5.52 (up 12% y/y)Q2 net sales +15% (organic +10%; M&A +5%)Q2 operating margin 20.4%; adjusted operating margin 23.9% (down 50 bps y/y)FY 2026 diluted EPS expected range of $17.25-$17.55; raising adj. diluted EPS to $20.25-$20.55 SHELTON, CT. (July 28, 2026) – Hubbell Incorporated (NYSE: HUBB) today reported operating results for the second quarter ended June 30, 2026.

"Hubbell delivered strong performance in the second quarter, with double digit growth in sales, adjusted operating profit and adjusted earnings per share" said Gerben Bakker, Chairman, President and CEO.

Mr. Bakker continued, "Our strong positions in attractive end markets, as well as continued execution on our strategy, are demonstrated by our strong second quarter and first half financial results. Megatrends in grid modernization, load growth and datacenter investment drove 10% organic growth in the second quarter, with visible demand strength across utility and electrical markets. Operationally, we are managing inflation effectively through price and productivity actions while investing in capacity expansion to serve our customers in high growth areas and deploying capital to further upgrade our portfolio in high growth and margin areas within our core."

Mr. Bakker concluded, "Strong first half order trends provide visibility to our second half outlook, and we are increasing our full year outlook to reflect double digit growth in organic sales, adjusted operating profit and adjusted earnings per share at the midpoint of our range."

Certain terms used in this release, including “net debt”, “free cash flow”, “organic net sales”, “organic net sales growth”, “restructuring-related costs”, “Adjusted EBITDA”, and certain other “adjusted” measures, are defined under the section entitled “Non-GAAP Definitions.” See page 11 for more information.

SECOND QUARTER FINANCIAL HIGHLIGHTS

The comments and year-over-year comparisons in this segment review are based on second quarter results in 2026 and 2025.

Utility Solutions segment net sales in the second quarter of 2026 increased 10% to $1,026 million compared to $936 million reported in the second quarter of 2025. Organic net sales increased approximately 6% in the quarter compared to the second quarter 2025. Grid Infrastructure net sales increased approximately 12% and Grid Automation net sales increased approximately 1%. Segment operating income in the second quarter of 2026 was $234 million, or 22.8% of net sales, compared to $218 million, or 23.3% of net sales, in the same period of 2025. Adjusted operating income was $263 million, or 25.6% of net sales, in the second quarter of 2026 as compared to $239 million, or 25.5% of net sales, in the same period of the prior year. Changes in operating income and operating margin were primarily due to volume growth, the impact of acquisitions and favorable price and productivity, partially offset by higher cost inflation, raw material costs and tariffs.

Electrical Solutions segment net sales in the second quarter of 2026 increased 25% to $686 million compared to $549 million reported in the second quarter of 2025. Organic net sales increased 18% in the quarter, while acquisitions added 6.5%. Segment operating income in the second quarter of 2026 was $115 million, or 16.7% of net sales, compared to $118 million, or 21.5% of net sales, in the same period of 2025. Adjusted operating income was $146 million, or 21.2% of net sales, in the second quarter of 2026 as compared to $124 million, or 22.5% of net sales, in the same period of the prior year. Changes in operating income and operating margin were driven primarily by volume growth, the impact of acquisitions and favorable price realization and productivity, partially offset by higher cost inflation, raw material costs, tariffs and restructuring investment.

Adjusted diluted EPS in the second quarter 2026 excluded $0.56 of amortization of acquisition-related intangible assets and $0.44 of transaction, integration, and separation costs. Adjusted diluted EPS in the second quarter 2025 excluded $0.36 of amortization of acquisition-related intangible assets and $0.01 of transaction, integration, & separation costs.
During the second quarter, the Company acquired all of the issued and outstanding equity of NSI Electrical Buyer, Inc. ("NSI Industries"), a leading provider of electrical fittings, connectors, components and wire management products, for approximately $3.0 billion, using net proceeds from borrowings under a new unsecured term loan facility in an aggregate principal amount of $900 million, the issuance of $1.9 billion aggregate principal amount of senior notes and issuances of commercial paper.

Net cash provided by operating activities was $250 million in the second quarter of 2026 versus net cash provided by operating activities of $261 million in the 2025 period. Free cash flow was $213 million in the second quarter of 2026 versus $221 million in the comparable period of 2025.

SUMMARY & OUTLOOK

For the full year 2026, Hubbell anticipates total sales growth of 16-18% including organic sales growth of 9-11%. Hubbell expects 2026 GAAP diluted earnings per share in the range of $17.25 to $17.55 and adjusted diluted earnings per share (“Adjusted EPS”) in the range of $20.25 to $20.55. For the full year, Adjusted EPS excludes amortization of acquisition-related intangible assets, which the Company expects to be approximately $2.50 per share, and transaction, integration, and separation costs, which the Company expects to be approximately $0.50 per share. The Company believes Adjusted EPS is a useful measure of underlying performance in light of our acquisition strategy.

The diluted earnings per share and Adjusted EPS ranges are based on an adjusted tax rate of 22.0% to 22.5% and include approximately $20 million of anticipated restructuring and related investment. The Company expects full year 2026 free cash flow conversion of approximately 90% on adjusted net income.

CONFERENCE CALL

Hubbell will conduct an earnings conference call to discuss its second quarter 2026 financial results today, July 28, 2026 at 10:00 a.m. ET. A live audio of the conference call will be available and can be accessed by visiting Hubbell's "Investor Relations - Events/Presentations" section of www.hubbell.com. Audio replays will also be available at the conclusion of the call by visiting www.hubbell.com and selecting "Investors" from the options at the bottom of the page and then "Events/Presentations" from the drop-down menu.

FORWARD-LOOKING STATEMENTS

Certain statements contained herein may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements generally relate to our expectations and beliefs regarding our financial results, condition and outlook, projections of future performance, anticipated growth and end markets, changes in operating results, market conditions and economic conditions, expected capital resources, liquidity, financial performance, pension funding and results of operations, plans, strategies, opportunities, developments and productivity initiatives, competitive positioning, and trends in particular markets or industries. In addition, statements related to our outlook for 2026 and beyond, and all statements set forth in the “Summary & Outlook” section above, as well as other statements that are not strictly historic in nature, are forward-looking. These statements may be identified by the use of forward-looking words or phrases such as “believe”, “expect”, “anticipate”, “intend”, “depend”, “plan”, “estimated”, “predict”, “target”, “should”, “could”, “may”, “subject to”, “continues”, “growing”, “prospective”, “forecast”, “projected”, “purport”, “might”, “if”, “contemplate”, “potential”, “pending”, “goals”, “scheduled”, “will”, “will likely be”, and similar words and phrases. Such forward-looking statements are based on our current expectations and involve numerous assumptions, known and unknown risks, uncertainties and other factors which may cause actual and future performance or the Company’s achievements to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the impact of and substantial uncertainty regarding the duration of existing and newly announced trade tariffs, import quotas or other trade actions, restrictions or measures taken by the United States, China, Mexico, the United Kingdom, member states of the European Union, and other countries, including the recent and ongoing potential changes in U.S. trade policies, that may be made by the current or a future presidential administration and changes in trade policies in other countries made in response to changes in the U.S. trade policies; the timing of and eligibility for anticipated International Emergency Economic Power Act (IEEPA) tariff refunds; the general impact of inflation on our business, including the impact on raw materials costs, elevated interest rates and increased energy costs and our ability to implement and maintain pricing actions that we have taken to cover higher costs and protect our margin profile; economic and business conditions in particular industries, markets or geographic regions, as well the potential for macro-economic effects of the U.S. government federal deficit, and continued inflation, a significant economic slowdown, stagflation or recession; effects of unfavorable foreign currency exchange rates and the potential use of hedging instruments to hedge the exposure to fluctuating rates of foreign currency exchange on inventory purchases; supply chain disruptions and availability,
costs and quantity of raw materials, purchased components, energy and freight; changes in demand for our products, market conditions, product quality, or product availability adversely affecting sales levels; ability to effectively develop and introduce new products; changes in markets or competition adversely affecting realization of price increases; continued softness in the heavy industrial and residential markets of Electrical Solutions; failure to achieve projected levels of efficiencies, and maintain cost savings and cost reduction measures, including those expected as a result of our lean initiatives and strategic sourcing plans; failure to comply with import and export laws; changes relating to impairment of our goodwill and other intangible assets; inability to access capital markets or failure to maintain our credit ratings; changes in expected or future levels of operating cash flow, indebtedness and capital spending; regulatory issues, and extensive worldwide changes to the taxation of multinational enterprises, including global minimum tax rules under the Organisation for Economic Co-operation and Development’s Pillar Two initiative and potential modifications to corporate taxation by the U.S. government, including adjustments to tax rates, deduction limitations, cross-border tax provisions, and administrative guidance; a major disruption in one or more of our manufacturing or distribution facilities or headquarters, including the impact of plant consolidations and relocations; changes in our relationships with, or the financial condition or performance of, key distributors and other customers, agents or business partners which could adversely affect our results of operations; impact of productivity improvements on lead times, quality and delivery of product; anticipated future contributions and assumptions including increases in interest rates and changes in plan assets with respect to pensions and other retirement benefits, as well as pension withdrawal liabilities; adjustments to product warranty accruals in response to claims incurred, historical experiences and known costs; unexpected costs or charges, certain of which might be outside of our control; changes in strategy due to economic conditions or other conditions outside of our control affecting anticipated future global product sourcing levels; ability to carry out future acquisitions and strategic investments in our core businesses as well as the acquisition related costs; the ability to successfully manage and integrate acquired businesses, such as the acquisitions of NSI Electrical Buyer, Inc. (the NSI Industries business), Alliance USAcqCo 2, Inc. (the Ventev business), Nicor, Inc. (the Nicor business), and Power Rose Acquisition, Inc. (the DMC Power business), as well as the failure to realize expected synergies and benefits anticipated when we make an acquisition due to potential adverse reactions or changes to business or employee relationships resulting from completion of the transaction, competitive responses to the transaction, the possibility that the anticipated benefits of the transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of an acquired business, diversion of management’s attention from ongoing business operations and opportunities, and litigation relating to the transaction; the impact of certain divestitures, including the benefits and costs of the sale of the residential lighting business;
the ability to effectively implement Enterprise Resource Planning systems without disrupting operational and financial processes; the ability of government customers to meet their financial obligations; political unrest and military actions in foreign countries, including the conflicts in Ukraine and the Middle East and trade tensions with China, as well as the impact on world markets and energy supplies and prices resulting therefrom, including the U.S.-Israel-Iran conflict, which has had substantial effects on global trade, the energy markets and the financial markets; the impact of potential natural disasters or additional public health emergencies on our financial condition and results of operations; failure of information technology systems, cybersecurity breaches, cyber threats, malware, phishing attacks, break-ins and similar events resulting in unauthorized disclosure of confidential information or disruptions or damage to information technology systems that could cause interruptions to our operations or adversely affect our internal control over financial reporting; incurring significant and/or unexpected costs to avoid, manage, defend and litigate intellectual property matters; future repurchases of common stock under our common stock repurchase program; changes in accounting principles, interpretations, or estimates; failure to comply with any laws and regulations, including those related to data privacy and information security, environmental laws and those relating to conflict-free minerals; the outcome of environmental, legal and tax contingencies or costs compared to amounts provided for such contingencies, including contingencies or costs with respect to pension withdrawal liabilities; improper conduct by any of our employees, agents or business partners that damages our reputation or subjects us to civil or criminal liability; our ability to hire, retain and develop qualified personnel; and other factors described in our Securities and Exchange Commission filings, including in the “Business”, “Risk Factors”, “Management’s Discussion and Analysis of Financial Condition and Results of Operations”, “Forward-Looking Statements” and “Quantitative and Qualitative Disclosures about Market Risk” sections in our Annual Report on Form 10-K for the year ended December 31, 2025, and Quarterly Report on Form 10-Q for the quarter ended March 31, 2026. Any such forward-looking statements are not guarantees of future performance and actual results, developments and business decisions may differ from those contemplated by such forward-looking statements. The Company disclaims any duty to update any forward-looking statement, all of which are expressly qualified by the foregoing, other than as required by law.
About the Company

Hubbell Incorporated is a leading manufacturer of utility and electrical solutions enabling customers to operate critical infrastructure safely, reliably and efficiently. With 2025 revenues of $5.8 billion, Hubbell solutions electrify economies and energize communities. The corporate headquarters is located in Shelton, CT.

Contact:        
          

Dan InnamoratoHubbell Incorporated40 Waterview DriveP.O. Box 1000Shelton, CT 06484(475) 882-4000     #######

NON-GAAP DEFINITIONS

References to "adjusted" operating measures exclude the impact of certain costs, gains or losses. Management believes these adjusted operating measures provide useful information regarding our underlying performance from period to period and an understanding of our results of operations without regard to items we do not consider a component of our core operating performance. Adjusted operating measures are non-GAAP measures, and include adjusted operating income, adjusted operating margin, adjusted net income attributed to Hubbell Incorporated, adjusted net income available to common shareholders, adjusted earnings per diluted share, and Adjusted EBITDA. These non-GAAP measures exclude, where applicable:

Amortization of all intangible assets associated with our business acquisitions, including inventory step-up amortization associated with those acquisitions. The intangible assets associated with our business acquisitions arise from the allocation of the purchase price using the acquisition method of accounting in accordance with Accounting Standards Codification 805, “Business Combinations.” These assets consist primarily of customer relationships, developed technology, trademarks and tradenames, and patents, as reported in Note 6—Goodwill and Other Intangible Assets, under the heading “Total Definite-Lived Intangibles,” within the Company’s audited Consolidated Financial Statements set forth in its Annual Report on Form 10-K for fiscal year ended December 31, 2025. The Company believes that the exclusion of these non-cash expenses because we believe it (i) enhances management’s and investors’ ability to analyze underlying business performance, (ii) facilitates comparisons of our financial results over multiple periods, and (iii) provides more relevant comparisons of our results with the results of other companies as the amortization expense associated with these assets may fluctuate significantly from period to period based on the timing, size, nature, and number of acquisitions. Although we exclude amortization of these acquired intangible assets and inventory step-up from our non-GAAP results, we believe that it is important for investors to understand that revenue generated, in part, from such intangibles is included within revenue in determining adjusted net income attributable to Hubbell Incorporated. Transaction, integration, and separation costs associated with our business acquisitions and divestitures. The effect that acquisitions and divestitures may have on our results can fluctuate significantly based on the timing, size, and number of transactions, and therefore result in significant volatility in the costs to complete transactions and integrate or separate the businesses. Transaction costs are primarily professional services and other fees incurred to complete the transactions recognized within operating income, as well as $7.2 million of bridge financing costs in connection with the transactions recognized within interest expense. Integration and separation costs are the internal and external incremental costs directly relating to these activities for the acquired or divested business. The acquisition and integration of NSI, DMC Power and the acquisitions and disposition completed by the Company in the fourth quarter of 2023 resulted in a significant increase in transaction, integration and separation costs. As a result, we believe excluding such costs relating to these transactions provides useful and more comparable information for investors to better assess our operating performance from period to period.Gains or losses on disposition of a business. The Company excludes these gains or losses because we believe they enhance management's and investors' ability to analyze underlying business performance and facilitates comparisons of our financial results over multiple periods. In the second quarter of 2025 the Company recognized a $0.4 million pre-tax loss on the disposition of a product line in the Electrical Solutions segment.Income tax effects of the above adjustments, which are calculated using the statutory tax rate, taking into consideration the nature of the item and the relevant taxing jurisdiction, unless otherwise noted. Adjusted EBITDA is a non-GAAP measure that excludes the items noted above and also excludes the Other income (expense), net, Interest expense, net, and Provision for income taxes captions of the Condensed Consolidated Statement of Income, as well as depreciation and amortization expense.

Net debt (defined as total debt less cash and investments) to total capital is a non-GAAP measure that we believe is a useful measure for evaluating the Company's financial leverage and the ability to meet its funding needs.

Free cash flow is a non-GAAP measure that we believe provides useful information regarding the Company's ability to generate cash without reliance on external financing. In addition, management uses free cash flow to evaluate the resources available for investments in the business, strategic acquisitions and further strengthening the balance sheet.

In connection with our restructuring and related actions, we have incurred restructuring costs as defined by U.S. GAAP, which are primarily severance and employee benefits, asset impairments, accelerated depreciation, as well as facility closure, contract termination and certain pension costs that are directly related to restructuring actions. We also incur restructuring-related costs, which are costs associated with our business transformation initiatives, including the consolidation of back-office functions and streamlining our processes, and certain other costs and gains associated with restructuring actions. We refer to these costs on a combined basis as "restructuring and related costs", which is a non-GAAP measure.

Organic net sales, a non-GAAP measure, represents Net sales according to U.S. GAAP, less Net sales from acquisitions and divestitures during the first twelve months of ownership or divestiture, respectively, less the effect of fluctuations in Net sales from foreign currency exchange. The period-over-period effect of fluctuations in Net sales from foreign currency exchange is calculated as the difference between local currency Net sales of the prior period translated at the current period exchange rate as compared to the same local currency Net sales translated at the prior period exchange rate. We believe this measure provides management and investors with a more complete understanding of the underlying operating results and trends of established, ongoing operations by excluding the effect of acquisitions, dispositions and foreign currency, as these activities can obscure underlying trends. When comparing Net sales growth between periods excluding the effects of acquisitions, business dispositions and currency exchange rates, those effects are different when comparing results for different periods. For example, because Net sales from acquisitions are considered inorganic from the date we complete an acquisition through the end of the first year following the acquisition, Net sales from such acquisitions are reflected as organic net sales thereafter.

There are limitations to the use of non-GAAP measures. Non-GAAP measures do not present complete financial results. We compensate for this limitation by providing a reconciliation between our non-GAAP financial measures and the respective most directly comparable financial measure calculated and presented in accordance with GAAP. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names. These financial measures should not be considered in isolation from, as substitutes for, or alternative measures of, reported GAAP financial results, and should be viewed in conjunction with the most comparable GAAP financial measures and the provided reconciliations thereto. We believe, however, that these non-GAAP financial measures, when viewed together with our GAAP results and related reconciliations, provide a more complete understanding of our business. We strongly encourage investors to review our consolidated financial statements and publicly filed reports in their entirety and not rely on any single financial measure.

Reconciliations of each of these non-GAAP measures to the most directly comparable GAAP measure can be found in the tables below. When we provide our expectations for organic net sales, adjusted effective tax rate, adjusted diluted EPS and free cash flow on a forward-looking basis, a reconciliation of the differences between the non-GAAP expectations and the corresponding GAAP measures (expected net sales, effective tax rate, diluted EPS and net cash flows provided by operating activities) generally is not available without unreasonable effort due to potentially high variability, complexity and low visibility as to the items that would be excluded from the GAAP measure in the relevant future period, such as unusual gains and losses, fluctuations in foreign currency exchange rates, the impact and timing of potential acquisitions and divestitures, certain financing costs, and other structural changes or their probable significance. The variability of the excluded items may have a significant, and potentially unpredictable, impact on our future GAAP results.

HUBBELL INCORPORATED
Condensed Consolidated Statement of Income
(unaudited)
(in millions, except per share amounts)

 Three Months Ended June 30, Six Months Ended June 30,  2026   2025   2026   2025 Net sales$        1,711.8          $        1,484.3          $        3,228.5          $        2,849.5         Cost of goods sold         1,098.8                   932.2                   2,110.2                   1,854.8         Gross profit         613.0                   552.1                   1,118.3                   994.7         Selling & administrative expenses         264.4                   215.8                   505.9                   428.0         Operating income         348.6                   336.3                   612.4                   566.7         Operating income as a % of Net sales         20.4        %          22.7        %          19.0        %          19.9        %Loss on disposition of business         —                   (0.4        )          —                   (0.4        )Interest expense, net         (39.1        )          (14.5        )          (61.1        )          (28.3        )Other expense, net         (5.8        )          (6.2        )          (11.2        )          (11.5        )Total other expense, net         (44.9        )          (21.1        )          (72.3        )          (40.2        )Income before income taxes         303.7                   315.2                   540.1                   526.5         Provision for income taxes         61.5                   69.7                   114.9                   116.5         Net income          242.2                   245.5                   425.2                   410.0         Less: Net income attributable to noncontrolling interest         (1.8        )          (1.3        )          (3.0        )          (2.6        )Net income attributable to Hubbell Incorporated$        240.4          $        244.2          $        422.2          $        407.4                 Earnings Per Share:       Basic earnings per share$        4.54          $        4.58          $        7.96          $        7.62         Diluted earnings per share $        4.52          $        4.56          $        7.93          $        7.58          HUBBELL INCORPORATED
Condensed Consolidated Balance Sheet
(unaudited)
(in millions)

 June 30, 2026 December 31, 2025ASSETS   Cash and cash equivalents$        378.6         $        482.5        Short-term investments          16.1                  15.4        Accounts receivable (net of allowances of $17.0 and $13.9)         1,150.9                  856.9        Inventories, net         1,267.5                  1,083.8        Other current assets          197.2                  155.4        TOTAL CURRENT ASSETS         3,010.3                  2,594.0        Property, plant and equipment, net         902.4                  841.2        Investments          103.7                  98.4        Goodwill         4,354.1                  3,060.8        Other intangible assets, net         3,189.9                  1,394.3        Other long-term assets         285.8                  240.1        TOTAL ASSETS$        11,846.2         $        8,228.8        LIABILITIES AND EQUITY   Short-term debt$        568.7         $        289.1        Accounts payable         650.5                  570.5        Accrued salaries, wages and employee benefits         117.1                  115.4        Accrued insurance         84.9                  83.0        Other accrued liabilities         449.3                  450.7        TOTAL CURRENT LIABILITIES         1,870.5                  1,508.7        Long-term debt         4,803.9                  2,036.3        Deferred tax liabilities         816.0                  420.1        Other non-current liabilities         432.8                  405.8        TOTAL LIABILITIES         7,923.2                  4,370.9        Hubbell Incorporated Shareholders' Equity         3,911.9                  3,847.9        Noncontrolling interest         11.1                  10.0        TOTAL EQUITY         3,923.0                  3,857.9        TOTAL LIABILITIES AND EQUITY$        11,846.2         $        8,228.8         HUBBELL INCORPORATED
Condensed Consolidated Statement of Cash Flows
(unaudited)
(in millions)

 Six Months Ended June 30,  2026   2025 Cash Flows From Operating Activities    Net income attributable to Hubbell$        422.2          $        407.4         Depreciation and amortization         127.8                   95.2         Deferred income taxes         (8.9)          (18.4)Stock-based compensation expense         21.9                   20.7         Loss on disposition of business         —                   0.4         Loss (gain) on sale of assets         1.5                   (1.3)Changes in assets and liabilities, net of acquisitions   Accounts receivable, net         (167.1)          (140.4)Inventories, net         (79.2)          (15.1)Accounts payable         68.0                   (11.9)Current liabilities         (36.9)          (21.9)Other assets and liabilities, net         (18.4)          (0.5)Contributions to defined benefit pension plans         (1.4)          (21.4)Other, net         6.9                   5.2          Net cash provided by operating activities          336.4                   298.0         Cash Flows From Investing Activities    Capital expenditures         (77.6)          (65.9)Acquisition of businesses, net of cash acquired         (3,005.7)          (73.2)Proceeds from disposal of business, net of cash         —                   2.6         Purchases of available-for-sale investments         (12.9)          (15.5)Proceeds from sales of available-for-sale investments         8.3                   5.4         Other, net         1.3                   6.0          Net cash used in investing activities          (3,086.6)          (140.6)Cash Flows From Financing Activities    Issuance of long-term debt         2,787.5                   —         Borrowing of short-term debt, net         279.6                   277.7         Payment of dividends         (150.4)          (140.9)Debt issuance costs         (19.9)          —         Repurchase of common shares         (203.5)          (225.0)Other, net         (41.6)          (29.3) Net cash provided (used in) by financing activities          2,651.7                   (117.5)Effect of foreign exchange rate changes on cash and cash equivalents         (1.2)          13.1         (Decrease) increase in cash, cash equivalents and restricted cash         (99.7)          53.0         Cash and cash equivalents, beginning of year         482.5                   329.1         Restricted cash, included in other assets, beginning of year         1.8                   2.5         Less: Restricted cash, included in other assets         6.0                   2.0         Cash and cash equivalents, end of quarter$        378.6          $        382.6          HUBBELL INCORPORATED
Earnings Per Share
(unaudited)
(in millions, except per share amounts)

 Three Months Ended June 30, Six Months Ended June 30,  2026   2025  Change  2026   2025  ChangeNet income attributable to Hubbell (GAAP measure)$        240.4          $        244.2                  (2)        % $        422.2          $        407.4                  4        %Amortization of acquisition-related intangible assets         39.1                   25.2                     72.5                   49.9           Transaction, integration & separation costs         28.0                   0.7                     31.5                   1.1           Loss on disposition of business         —                   0.4                     —                   0.4           Subtotal$        307.5          $        270.5            $        526.2          $        458.8           Income tax effects         13.8                   6.2                     22.6                   12.1           Adjusted net income$        293.7          $        264.3                  11        % $        503.6          $        446.7                  13        %            Numerator:           Net income attributable to Hubbell (GAAP measure)$        240.4          $        244.2            $        422.2          $        407.4           Less: Earnings allocated to participating securities         (0.3)          (0.4)            (0.5)          (0.7)  Net income available to common shareholders (GAAP measure) [a]$        240.1          $        243.8                  (2)        % $        421.7          $        406.7                  4        %            Adjusted net income $        293.7          $        264.3            $        503.6          $        446.7           Less: Earnings allocated to participating securities         (0.4)          (0.5)            (0.7)  (0.8)  Adjusted net income available to common shareholders [b]$        293.3          $        263.8                  11        % $        502.9          $        445.9                  13        %            Denominator:           Average number of common shares outstanding [c]         52.9                   53.2                     53.0                   53.4           Potential dilutive shares         0.2                   0.3                     0.2                   0.3           Average number of diluted shares outstanding [d]         53.1                   53.5                     53.2                   53.7                       Earnings per share (GAAP measure):           Basic [a] / [c]$        4.54          $        4.58            $        7.96          $        7.62           Diluted [a] / [d]$        4.52          $        4.56                  (1)        % $        7.93          $        7.58                  5        %            Adjusted earnings per diluted share [b] / [d]$        5.52          $        4.93                  12        % $        9.45          $        8.31                  14        % HUBBELL INCORPORATED
Segment Information
(unaudited)
(in millions)

Hubbell IncorporatedThree Months Ended June 30, Six Months Ended June 30,  2026   2025  Change  2026   2025  ChangeNet Sales [a]$        1,711.8          $        1,484.3                  15        % $        3,228.5          $        2,849.5                  13        %            Operating Income           GAAP measure [b]$        348.6          $        336.3                  4        % $        612.4          $        566.7                  8        %Amortization of acquisition-related intangible assets         39.1                   25.2                     72.5                   49.9           Transaction, integration & separation costs         20.8                   0.7                     24.3                   1.1           Adjusted operating income [c]$        408.5          $        362.2                  13        % $        709.2          $        617.7                  15        %            Operating margin           GAAP measure [b] / [a]         20.4        %          22.7        % -230 bps          19.0        %          19.9        % -90 bpsAdjusted operating margin [c] / [a]          23.9        %          24.4        % -50 bps          22.0        %          21.7        % +30 bps Utility SolutionsThree Months Ended June 30, Six Months Ended June 30,  2026   2025  Change  2026   2025  ChangeNet Sales [a]$        1,025.8          $        935.5                  10        % $        1,974.7          $        1,792.6                  10        %            Operating Income           GAAP measure [b]$        233.9          $        218.2                  7        % $        409.0          $        369.0                  11        %Amortization of acquisition-related intangible assets         26.2                   20.0                     54.9                   39.8           Transaction, integration & separation costs         2.7                   0.5                     6.2                   0.6           Adjusted operating income [c]$        262.8          $        238.7                  10        % $        470.1          $        409.4                  15        %            Operating margin           GAAP measure [b] / [a]         22.8        %          23.3        % -50 bps          20.7        %          20.6        % +10 bpsAdjusted operating margin [c] / [a]         25.6        %          25.5        % +10 bps          23.8        %          22.8        % +100 bps Electrical SolutionsThree Months Ended June 30, Six Months Ended June 30,  2026   2025  Change  2026   2025  ChangeNet Sales [a]$        686.0          $        548.8                  25        % $        1,253.8          $        1,056.9                  19        %            Operating Income           GAAP measure [b]$        114.7          $        118.1                  (3)        % $        203.4          $        197.7                  3        %Amortization of acquisition-related intangible assets         12.9                   5.2                     17.6                   10.1           Transaction, integration & separation costs         18.1                   0.2                     18.1                   0.5           Adjusted operating income [c]$        145.7          $        123.5                  18        % $        239.1          $        208.3                  15        %            Operating margin           GAAP measure [b] / [a]         16.7        %          21.5        % -480 bps          16.2        %          18.7        % -250 bpsAdjusted operating margin [c] / [a]         21.2        %          22.5        % -130 bps          19.1        %          19.7        % -60 bps HUBBELL INCORPORATED
Organic Net Sales Growth
(unaudited)
(in millions and percentage change)

Hubbell IncorporatedThree Months Ended June 30, Six Months Ended June 30,  2026 Inc/(Dec)%  2025  Inc/(Dec)%  2026 Inc/(Dec)%  2025  Inc/(Dec)%Net sales growth (decline) (GAAP measure)$        227.5                 15.3         $        31.8                  2.2          $        379.0                 13.2         $        (2.1)         (0.1)Impact of acquisitions         71.5                 4.8                  4.9                  0.3                   103.0                 3.6                  9.4                  0.3         Impact of divestitures         —                 —                  —                  —                   —                 —                  (21.1)         (0.7)Foreign currency exchange         4.7                 0.3                  (2.1)         (0.1)          12.6                 0.4                  (10.7)         (0.4)Organic net sales growth (decline) (non-GAAP measure)$        151.3                 10.2         $        29.0                  2.0          $        263.4                 9.2         $        20.3                  0.7          Utility SolutionsThree Months Ended June 30, Six Months Ended June 30,  2026 Inc/(Dec)%  2025  Inc/(Dec)%  2026 Inc/(Dec)%  2025  Inc/(Dec)%Net sales growth (decline) (GAAP measure)$        90.3                 9.7         $        9.0                  0.9          $        182.1                 10.2         $        (27.9)         (1.5)Impact of acquisitions         36.1                 3.9                  —                  —                   66.3                 3.7                  —                  —         Impact of divestitures         —                 —                  —                  —                   —                 —                  —                  —         Foreign currency exchange         3.2                 0.3                  (1.4)         (0.2)          6.6                 0.4                  (5.6)         (0.3)Organic net sales growth (decline) (non-GAAP measure)$        51.0                 5.5         $        10.4                  1.1          $        109.2                 6.1         $        (22.3)         (1.2) Electrical SolutionsThree Months Ended June 30, Six Months Ended June 30,  2026 Inc/(Dec)%  2025  Inc/(Dec)%  2026 Inc/(Dec)%  2025  Inc/(Dec)%Net sales growth (GAAP measure)$        137.2                 25.1         $        22.8                  4.3          $        196.9                 18.7         $        25.8                  2.5         Impact of acquisitions         35.4                 6.5                  4.9                  0.9                   36.7                 3.5                  9.4                  0.9         Impact of divestitures         —                 —                  —                  —                   —                 —                  (21.1)         (2.0)Foreign currency exchange         1.5                 0.3                  (0.7)         (0.1)          6.0                 0.6                  (5.1)         (0.5)Organic net sales growth (non-GAAP measure)$        100.3                 18.3         $        18.6                  3.5          $        154.2                 14.6         $        42.6                  4.1          HUBBELL INCORPORATED
Adjusted EBITDA
(unaudited)
(in millions)

 Three Months Ended June 30,  2026  2025 ChangeNet income$        242.2         $        245.5                 (1)        %Provision for income taxes         61.5                  69.7          Interest expense, net         39.1                  14.5          Other expense, net         5.8                  6.2          Depreciation and amortization         67.6                  48.3          Loss on disposition of business         —                  0.4          Subtotal         174.0                  139.1          Adjusted EBITDA $        416.2         $        384.6                 8        %  Six Months Ended June 30,  2026  2025 ChangeNet income$        425.2         $        410.0                 4        %Provision for income taxes         114.9                  116.5          Interest expense, net         61.1                  28.3          Other expense, net         11.2                  11.5          Depreciation and amortization         127.8                  95.2          Loss on disposition of business         —                  0.4          Subtotal         315.0                  251.9          Adjusted EBITDA $        740.2         $        661.9                 12        % HUBBELL INCORPORATED
Restructuring and Related Costs Included in Consolidated Results
(unaudited)
(in millions, except per share amounts)

 Three Months Ended June 30,  2026  2025  2026  2025   2026  2025 Costs of goods sold S&A expense TotalRestructuring costs (GAAP Measure)$        1.5         $        2.8         $        —         $        —          $        1.5         $        2.8        Restructuring related costs          0.8                  1.2                  1.7                  (0.7)          2.5                  0.5        Restructuring and related costs (non-GAAP measure) $        2.3         $        4.0         $        1.7         $        (0.7) $        4.0         $        3.3          Six Months Ended June 30,  2026  2025  2026  2025   2026  2025 Costs of goods sold S&A expense TotalRestructuring costs (GAAP Measure)$        6.1         $        4.4         $        0.7         $        0.1          $        6.8         $        4.5        Restructuring related costs         1.9                  2.5                  1.9                  (0.2)          3.8                  2.3        Restructuring and related costs (non-GAAP measure) $        8.0         $        6.9         $        2.6         $        (0.1) $        10.6         $        6.8          Three Months Ended June 30, Six Months Ended June 30,  2026  2025   2026  2025 Restructuring and related costs included in Cost of goods sold (non-GAAP measure)       Utility Solutions$        0.2         $        2.7          $        0.9         $        4.1         Electrical Solutions         2.1                  1.3                   7.1                  2.8         Total$        2.3         $        4.0          $        8.0         $        6.9         Restructuring and related costs included in Selling & administrative expenses (non-GAAP measure)       Utility Solutions$        —         $        —          $        —         $        0.1         Electrical Solutions         1.7                  (0.7)          2.6                  (0.2)Total$        1.7         $        (0.7) $        2.6         $        (0.1)        Impact on Income before income taxes (non-GAAP measure)$        4.0         $        3.3          $        10.6         $        6.8         Impact on Net income available to Hubbell common shareholders (non-GAAP measure)         3.0                  2.5                   8.0                  5.2         Impact on Diluted earnings per share (non-GAAP measure)$        0.06         $        0.05          $        0.15         $        0.10          HUBBELL INCORPORATED
Additional Non-GAAP Financial Measures
(unaudited)
(in millions)

Ratios of Total Debt to Total Capital and Net Debt to Total Capital

 June 30, 2026 December 31, 2025Total Debt (GAAP measure)$        5,372.6          $        2,325.4         Total Hubbell Shareholders’ Equity         3,911.9                   3,847.9         Total Capital$        9,284.5          $        6,173.3         Total Debt to Total Capital (GAAP measure)         58        %          38        %Less: Cash and Investments$        498.4          $        596.3         Net Debt (non-GAAP measure)$        4,874.2          $        1,729.1         Net Debt to Total Capital (non-GAAP measure)         52        %          28        % Free Cash Flow Reconciliation

Free Cash Flow Reconciliation Flow Reconciliation

         Three Months Ended June 30, Six Months Ended June 30,  2026   2025   2026   2025 Net cash provided by operating activities (GAAP measure)$        249.8          $        260.6          $        336.4          $        298.0         Less: Capital expenditures         (37.0)          (39.9)          (77.6)          (65.9)Free cash flow (non-GAAP measure)$        212.8          $        220.7          $        258.8          $        232.1         

Pemvidutide 2.4 mg delivered a statistically significant and clinically meaningful reduction in heavy drinking days, the primary endpoint of the trial 

Important secondary endpoints were also met, including two-level reduction in WHO risk drinking levels and zero heavy drinking days, both of which are recognized by the FDA as registrational endpoints

A generally favorable tolerability profile was observed in the trial

Conference call to be held today at 8:00 am ET

GAITHERSBURG, Md., July 28, 2026 (GLOBE NEWSWIRE) -- Altimmune, Inc. (Nasdaq: ALT), a late clinical-stage biopharmaceutical company focused on serious liver diseases, today announced positive topline results from the RECLAIM Phase 2 trial evaluating pemvidutide, an investigational balanced glucagon/GLP-1 dual receptor agonist, in patients with moderate to severe alcohol use disorder (AUD). The trial met its primary endpoint with a highly statistically significant reduction in heavy drinking days (HDD) versus placebo, with consistent positive results across important secondary endpoints, including the World Health Organization (WHO) Risk Drinking Levels (RDL), zero HDD and phosphatidyl ethanol (PEth) levels.  A generally favorable tolerability profile was observed in the trial. The Company plans to request an End-of-Phase 2 meeting with the U.S. Food and Drug Administration (FDA) based on the results of the trial.

“We are extremely encouraged by these compelling topline results, which showed a highly significant reduction in heavy drinking days and nearly two-thirds of patients treated with pemvidutide achieving a two-level reduction in their WHO-RDL, a clinically meaningful outcome for these patients,” said Christophe Arbet-Engels, M.D., Ph.D., Chief Medical Officer at Altimmune. “These data reflect pemvidutide’s strong and consistent efficacy across important measures of drinking behavior, together with a generally favorable tolerability profile in this difficult-to-treat disorder. Given the known detrimental effects of alcohol on the liver, the liver-directed impact of glucagon in pemvidutide may provide further benefit in the treatment of AUD over GLP-1 alone, underscoring pemvidutide’s promising potential differentiation.”

Efficacy Data

EndpointPlaceboPemvidutideTreatment EffectP-valueChange from baseline in HDD/Week at Week 24 (Primary Endpoint)-2.75 (LS mean)-4.20 (LS mean)-1.45 (LS mean difference)0.00142-level Reduction in WHO-RDL34.8% (16/46)64.4% (29/45)Odds Ratio 3.310.0049Zero HDD in Week 21 through Week 2417.4% (8/46)42.2% (19/45)Odds Ratio 3.840.0066Change from baseline in Percent of Days with Abstinence20.5% (LS mean)38.9% (LS mean)18.4% (LS mean difference)0.0075Change from baseline in Serum PEth at Week 2422.0 (LS mean)-153.4 (LS mean) -175.3 (LS mean difference)<0.0001      Key efficacy results included:

Statistically significant reduction in the primary endpoint of HDD per week versus placebo (p=0.0014)Statistically significant results on secondary endpoints, including two that are registrational endpoints Two-level reduction in WHO Risk Drinking Levels versus placebo (p=0.0049)Zero heavy drinking days versus placebo (p=0.0066) Statistically significant change in percent of days with abstinence versus placebo (p=0.0075)Statistically significant reduction in PEth levels versus placebo (p<0.0001)Statistically significant reduction in body weight, as measured by a placebo-adjusted difference in change from baseline of 9.1% at 24 weeks (p<0.0001), with no evidence of plateauing Safety and Tolerability Data

Adverse Event (AE)Placebo
(N=50)Pemvidutide 2.4mg
(N=50)Serious AEs1 (2%)2 (4%)Severe AEs3 (6%)6 (12%)Nausea12 (24%)22 (44%)Vomiting3 (6%)9 (18%)Diarrhea5 (10%)10 (20%)Constipation3 (6%)13 (26%)Treatment discontinuations11 (22%)10 (20%)Study drug-related AEs leading to treatment discontinuation0 (0%)5 (10%)*    *2 vomiting, 1 constipation, 1 fatigue, 1 exacerbation of hemorrhoids

Pemvidutide was generally well tolerated in this patient population with high unmet need.
The new, simple two-step titration for the 2.4 mg dose may improve gastrointestinal (GI) tolerability compared to prior pemvidutide titration schemes. The majority of adverse events were mild to moderate in severity. There was one serious adverse event (SAE) (hyponatremia) in the pemvidutide arm that was deemed possibly related to treatment drug by the principal investigator.

“As someone who has dedicated his career to understanding and treating alcohol use disorder, I recognize the significance of these findings, particularly given the current attention on the adverse health impact of heavy drinking. These results provide a consistent picture of treatment benefit on self-reported drinking outcomes, supported by objective PEth biomarker evidence,” said Henry Kranzler, M.D., Karl E. Rickels Professor of Psychiatry and Director, Center for Studies of Addiction, University of Pennsylvania Perelman School of Medicine, and Principal Investigator of the RECLAIM trial. “These data underscore the potential for pemvidutide to address multiple dimensions of alcohol use disorder by supporting abstinence and reducing heavy drinking, findings that build on prior evidence of its activity in the liver.”

“These top-line data strengthen our confidence in pemvidutide's differentiation and its potential to benefit people living with MASH, AUD and ALD, who currently have limited treatment options,” said Jerry Durso, Chief Executive Officer and Chairman of the Board of Altimmune. “These results represent yet another important milestone for Altimmune as we continue to execute on our goal to bring pemvidutide to patients with serious liver diseases while creating value for shareholders.”

Based on these data, Altimmune plans to request an End-of-Phase 2 (EOP2) meeting with the FDA to discuss the path forward for pemvidutide in AUD. Results from the RECLAIM trial will be submitted for presentation at a forthcoming medical conference and for publication in a peer-reviewed journal.

Conference Call Information
Altimmune will host a conference call and webcast at 8:00 a.m ET today to discuss the RECLAIM topline data. The conference call will be webcast live on Altimmune’s Investor Relations (IR)  website. Participants who would like to join by phone may register here to receive the dial-in numbers and unique pin to access the call. Following the conclusion of the call, the webcast will be available for replay on the IR page of the company’s website.

About RECLAIM

RECLAIM (NCT06987513) is a Phase 2 trial evaluating the safety and efficacy of pemvidutide in Alcohol Use Disorder (AUD) patients with BMI >25 kg/m2, and is the first Phase 2 multicenter study evaluating a dual glucagon-GLP-1 agonist in AUD to report results. Approximately 100 patients were randomized 1:1 to receive either 2.4 mg pemvidutide or placebo once weekly for 24 weeks. The primary endpoint of the trial was the change from baseline in the average number of heavy drinking days (HDD) per week, with secondary endpoints including the proportion of patients achieving a 2-level reduction in World Health Organization (WHO) Risk Drinking Levels (RDL), zero HDD, and absolute change from baseline in average levels of phosphatidylethanol (PEth), an objective serum biomarker of alcohol intake. The 2-level reduction in WHO risk drinking levels and zero HDD are recognized by the FDA as registrational endpoints.

About AUD

Alcohol use disorder (AUD) is a medical condition driven by an impaired ability to stop or control the harmful consumption of alcohol. AUD can also lead to serious health consequences, including liver cirrhosis, cardiovascular disease, and cancer. Additionally, many patients with AUD present with comorbidities including excess fat in the liver and obesity, further amplifying their risk for poor outcomes. The World Health Organization estimates that harmful alcohol consumption is the seventh leading cause of global death and disability, with alcohol accounting for 50% of all liver-related deaths.

Today, it is estimated that 28 million adults in the U.S. suffer from AUD. Patients with AUD are characterized as mild, moderate or severe according to the DSM-5 criteria with approximately 12 million having moderate or severe forms of the disease. Only three drugs for AUD have been approved by the FDA, but these agents have limited efficacy for AUD and its comorbidities and are used by less than 2% of patients. There is a substantial unmet need for new and more effective treatments that not only reduce alcohol cravings and heavy drinking days but also can address the numerous other risks of the disease.

About Pemvidutide

Pemvidutide is a novel, investigational peptide with balanced 1:1 glucagon/GLP-1 dual receptor agonist activity, in development for the treatment of metabolic dysfunction-associated steatohepatitis (MASH), alcohol use disorder (AUD) and alcohol-associated liver disease (ALD). The activation of glucagon receptors results in direct effects on the liver, including reductions in liver fat, inflammation and fibrosis, while GLP-1 receptors mediate metabolic effects such as appetite suppression and weight loss, and may play a role in pathways related to craving and reward.

The FDA granted Fast Track designations to pemvidutide for the treatment of MASH and AUD, as well as Breakthrough Therapy Designation for MASH. In December 2025, the Company announced 48-week data from the IMPACT Phase 2b trial in MASH. In July 2026, the Company announced results from the RECLAIM Phase 2 trial in AUD. The RESTORE trial in ALD was initiated in July 2025, and enrollment completion is expected in the third quarter 2026. The Company plans to initiate the PERFORMA Phase 3 trial, a multinational, randomized, double-blind, placebo-controlled, parallel-group study of pemvidutide in patients with MASH in the third quarter of 2026.

About Altimmune

Altimmune is a late clinical-stage biopharmaceutical company developing therapies for patients with serious liver diseases. The Company’s lead candidate, pemvidutide, is a unique dual-action therapy targeting both glucagon and GLP-1 receptors in a balanced 1:1 ratio in development for the treatment of MASH, AUD and ALD. For more information, please visit www.altimmune.com.

Forward-Looking Statements

This press release has been prepared by Altimmune, Inc. ("we," "us," "our," "Altimmune" or the "Company") and includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to future financial or business performance, conditions, plans, prospects, trends, or strategies and other financial and business matters, including without limitation, the timing of key milestones for our clinical assets, the performance of our drug candidates in ongoing and future clinical trials including the RECLAIM trial (topline results of which are described herein), the ongoing RESTORE trial and the planned PERFORMA trial, evaluating pemvidutide in patients with MASH, AUD and ALD, the potential benefits of Fast Track and Breakthrough Therapy Designations and the prospects for regulatory approval, commercializing, market size, market potential, competitive landscape, or selling any product or drug candidates. In addition, when or if used in this presentation, the words “may,” “could,” “should,” “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “predict,” “potential”, “suggest” and similar expressions and their variants, as they relate to the Company may identify forward-looking statements. The Company cautions that these forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which change over time. Important factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include risks and uncertainties, including risks such as delays in regulatory review, manufacturing and supply chain interruptions, access to clinical sites, enrollment, adverse effects on healthcare systems and disruption of the global economy; patient baseline characteristics which may vary and impact the success of future trials; the reliability of the results of studies relating to human safety and possible adverse effects resulting from the administration of the Company’s product candidates; the Company’s ability to manufacture clinical trial materials on the timelines anticipated; whether the FDA will agree with the Company's proposed development and regulatory strategy for pemvidutide in AUD, including following any End-of-Phase 2 meeting; the risk that results from the RECLAIM trial may not be predictive of results in the RESTORE trial, the planned PERFORMA trial, or any other future or larger clinical trial; the Company's need for substantial additional capital to complete development of pemvidutide, which may not be available on acceptable terms or at all; competition from other companies developing treatments for MASH, AUD and ALD; and the success of future product advancements, including the success of current and future clinical trials. Further information on the factors and risks that could affect the Company's business, financial conditions and results of operations are contained in the Company’s filings with the U.S. Securities and Exchange Commission, including under the heading “Risk Factors” in the Company’s latest annual report on Form 10-K, quarterly report on Form 10-Q and our other filings with the SEC, which are available at www.sec.gov.

Investor Contact:
Luis Sanay, CFA
Vice President, Investor Relations
[email protected]

Media Contact:
Real Chemistry 
[email protected]

Posted by Defense World Staff on Jul 28th, 2026

Caxton Associates LLP lessened its holdings in shares of Celestica, Inc. (NYSE:CLS – Free Report) (TSE:CLS) by 97.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,500 shares of the technology company’s stock after selling 105,200 shares during the period. Caxton Associates LLP’s holdings in Celestica were worth $704,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Greenline Wealth Management LLC increased its position in Celestica by 34.2% in the 1st quarter. Greenline Wealth Management LLC now owns 1,032 shares of the technology company’s stock valued at $291,000 after acquiring an additional 263 shares during the period. Lido Advisors LLC lifted its holdings in Celestica by 149.3% in the first quarter. Lido Advisors LLC now owns 3,099 shares of the technology company’s stock worth $873,000 after purchasing an additional 1,856 shares during the period. State of Wyoming lifted its holdings in Celestica by 486.4% in the first quarter. State of Wyoming now owns 1,161 shares of the technology company’s stock worth $327,000 after purchasing an additional 963 shares during the period. Cetera Investment Advisers grew its position in Celestica by 13.8% in the 1st quarter. Cetera Investment Advisers now owns 66,458 shares of the technology company’s stock valued at $18,703,000 after buying an additional 8,057 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Celestica by 6.5% during the 1st quarter. First Trust Advisors LP now owns 62,944 shares of the technology company’s stock valued at $17,744,000 after buying an additional 3,818 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

Celestica News Roundup Here are the key news stories impacting Celestica this week:

Positive Sentiment: Q2 results exceeded expectations. Celestica reported $4.70 billion in revenue, up 62% year over year, while adjusted earnings reached $2.54 per share versus the $2.29 consensus estimate. Reported EPS was also above expectations, at $2.41, compared with the same $2.29 consensus. Celestica Tops Q2 Earnings and Revenue Estimates Positive Sentiment: Management raised its full-year outlook. Celestica now expects 2026 revenue of approximately $20.5 billion and EPS of $11.30, above analyst expectations of $19.2 billion and $10.13, respectively. The company also said growth is expected to accelerate in 2027. Celestica Announces Second Quarter 2026 Financial Results Positive Sentiment: Third-quarter guidance also topped consensus. Celestica forecast EPS of $2.88–$3.08 and revenue of $5.3–$5.6 billion, compared with analyst estimates of $2.65 EPS and $5.0 billion in revenue. The outlook indicates momentum is continuing beyond the latest quarter. Celestica Q2 Earnings and Revenue Beat Estimates; Raises 2026 Outlook Positive Sentiment: Options activity reflected bullish interest. Investors purchased 13,556 call options, approximately 16% above the average daily call volume, although options activity is a positioning signal rather than a fundamental change. Neutral Sentiment: Celestica’s reported net margin was 6.95% and return on equity was 36.91%. The stock’s high beta and elevated valuation mean strong results may support the shares, but they also leave the stock sensitive to future guidance or execution disappointments. Celestica Stock Performance Shares of NYSE CLS opened at $321.06 on Tuesday. Celestica, Inc. has a 52 week low of $169.19 and a 52 week high of $474.02. The firm has a market cap of $36.91 billion, a price-to-earnings ratio of 38.82, a P/E/G ratio of 0.71 and a beta of 2.05. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.73 and a current ratio of 1.26. The business’s 50-day simple moving average is $361.64 and its 200-day simple moving average is $332.61.

Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last issued its quarterly earnings results on Monday, July 27th. The technology company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.25. The company had revenue of $4.68 billion for the quarter, compared to the consensus estimate of $4.30 billion. Celestica had a return on equity of 36.91% and a net margin of 6.95%.The firm’s revenue was up 62.4% compared to the same quarter last year. During the same period last year, the business posted $1.39 earnings per share. Celestica has set its FY 2026 guidance at 11.300-11.300 EPS and its Q3 2026 guidance at 2.880-3.080 EPS. As a group, equities research analysts expect that Celestica, Inc. will post 9.57 earnings per share for the current fiscal year.

Insiders Place Their Bets In other news, CFO Mandeep Chawla sold 17,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $399.65, for a total value of $6,794,050.00. Following the sale, the chief financial officer directly owned 82,444 shares in the company, valued at approximately $32,948,744.60. This represents a 17.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Robert Mionis sold 66,056 shares of Celestica stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $400.06, for a total transaction of $26,426,363.36. Following the transaction, the chief executive officer directly owned 134,328 shares of the company’s stock, valued at $53,739,259.68. This represents a 32.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 161,168 shares of company stock worth $63,190,485 over the last quarter. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades Several brokerages have recently issued reports on CLS. TD Cowen upgraded Celestica from a “hold” rating to a “buy” rating and lifted their price target for the company from $350.00 to $430.00 in a research report on Wednesday, April 29th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $475.00 target price on shares of Celestica in a research note on Tuesday, April 28th. BMO Capital Markets lifted their target price on Celestica from $370.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. UBS Group boosted their price target on shares of Celestica from $355.00 to $400.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings downgraded shares of Celestica from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $427.42.

Get Our Latest Stock Analysis on CLS

About Celestica (Free Report)

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.

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We're thick into earnings season, and one of the biggest stocks on the planet is reporting on Thursday. Apple (AAPL +1.19%) will report its fiscal third-quarter results shortly after the market closes, with its earnings call to follow an hour later.

Stocks tend to move on earnings news, and Apple is no exception. But that doesn't mean you should buy ahead of Apple's telltale financial update. A lot can still go wrong, and if you're investing for the long haul, an impulsive short-term decision isn't necessary. However, if you were planning to pick up a piece of the class act of Cupertino this week, deciding whether to buy before or after Thursday afternoon's report is pretty important. Let's go over the bull and bear case to see if you might want to become an Apple investor -- or increase your exposure -- before the market closes on July 30.

Image source: Getty Images.

The case to buy Momentum is on Apple's side. Revenue growth is accelerating for the third fiscal year in a row. The 17% top-line jump it posted in its latest quarter is its strongest increase since the fiscal fourth quarter of 2021. Diluted earnings per share rose even faster, climbing 22% for the three-month period ending in late March.

Apple delivered double-digit growth across all its geographic territories. Its high-margin services revenue scored a new high. The iPhone 17 line continues to sell well, and the launch of the entry-level MacBook Neo has been well received without undercutting the aspirational nature of the Apple brand.

Analysts see a similar scenario playing out for this week's big reveal. They are targeting 16% revenue growth and a 20% bump in the bottom line. That could be better, and it probably will be better on the bottom line. Apple has landed 3% to 10% above Wall Street profit targets in every quarter over the past year.

Apple stock hit a new all-time high on Monday and has soared 58% over the past year. Yet despite the rising share price, Apple's board authorized an additional $100 billion in buybacks earlier this year. It believes the upside remains. Betting on winners is a sound strategy, but it's not perfect.

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The case to not buy I've owned Apple long enough for it to be a 14-bagger in my portfolio, but I'm not a buyer this week. I'm impressed by Apple's ability to post a nearly five-year high in revenue growth in this climate of inflationary fears, geopolitical concerns, and tariff-wielding.

I've also been a student of Apple long enough to know the cyclical trap of enthusiasm. Apple is posting double-digit growth again, but how long will it last? What do you see when you run down Apple's revenue growth since Steve Jobs passed away in 2011?

2012: 45% 2013: 9% 2014: 7% 2015: 28% 2016: -8% 2017: 6% 2018: 16% 2019: -2% 2020: 6% 2021: 33% 2022: 8% 2023: -3% 2024: 2% 2025: 6% Revenue may be a lock to rise at a double-digit pace this year, but there hasn't been a sequel in the past 14 fiscal years. It could be different this time, but success has been fleeting in the post-Jobs era.

The stock's market-thumping momentum over the past year makes the valuation argument harder to make. Apple is now trading for 35 times next fiscal year's profit target. The consumer tech bellwether is still a rock star, but the downside seems greater than the upside following Thursday's financial update.

Coca-Cola on Tuesday reported quarterly earnings and revenue that topped Wall Street's estimates, fueled by higher demand for its drinks.

The company also hiked its full-year forecast. Coke is now projecting comparable earnings per share growth of 9% to 10%, up from its prior forecast of 8% to 9%. It also expects organic revenue to increase about 5%, on the high end of its earlier range of 4% to 5%.

Shares of Coke rose more than 3% in premarket trading.

Here's what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:

Adjusted earnings per share: 97 cents, vs. expected 93 centsRevenue: $13.38 billion, vs. $13.16 billion expected Coke reported second-quarter net income of $4.43 billion, or $1.03 per share, up from $3.81 billion, or 89 cents per share, a year earlier.

Excluding asset impairments, restructuring costs and other items, the company earned 97 cents per share.

Net sales rose 7% to $13.38 billion. Coke's organic revenue, which excludes acquisitions, divestitures and currency fluctuations, jumped 6% in the quarter.

Tune in at 10:15 a.m. ET as Coca-Cola CEO Henrique Braun joins CNBC TV to discuss the company's earnings. Watch in real time on CNBC+ or the CNBC Pro stream.

The company's global unit case volume increased 5%, and every one of its reporting segments saw volume growth. The metric strips out pricing to reflect demand more accurately.

The consumer environment is "dynamic," CEO Henrique Braun said in a statement. The comment followed rival PepsiCo saying that shoppers' budgets tightened in the second quarter, leading to weaker sales in the U.S. for its snacks and drinks.

Global oil prices have swung dramatically due to the U.S. war with Iran, leading many consumers to temper their spending. In Coke's home market, the national average gas price hit a four-year high of $4.56 per gallon in late May.

But Coke's results do not show consumers cutting back. Even in North America, volume grew 3% in the quarter.

The company credited its global World Cup campaign with driving higher demand. Two drinks in particular, its namesake soda and Powerade, saw higher volumes that the company attributed, in part, to the tournament's marketing. Coke volume increased 5% and Powerade volume climbed 8% in the quarter.

Coke's water, sports, coffee and tea segment was the top performer this quarter, with volume growth of 6%. Out of those four categories, all but coffee saw their volume increase during the quarter.

Coke's sparkling soft drinks segment reported volume growth of 4%, helped in part by the lift in demand for its namesake soda and its line extensions. Coca-Cola Zero Sugar saw volume climbed 16%, while Diet Coke, or Coca-Cola Light as it is known in some markets, reported volume growth of 7%.

Coke's juice, value-added dairy and plant-based beverage division saw volume growth of 2%.

Boeing reported a bigger-than-expected loss for the second quarter as the aircraft manufacturer's long-delayed Air Force One program weighed down results.

Boeing took a $280 million loss on the program to deliver two 747s that will serve as the next generation Air Force One aircraft to the U.S. government as it said it ramped up investment for that plane. It said it still expects the first delivery in 2028.

"While we're making progress on our development programs, you're never done until you're done," CEO Kelly Ortberg said in a note to staff.

Here's what the company reported in the second quarter compared with what Wall Street analysts surveyed by LSEG were expecting:

Loss per share: 76 cents adjusted vs. a loss of 30 cents a share expectedRevenue: $24.56 billion vs. $24.25 billion expectedThe aircraft manufacturer, a top U.S. exporter, increased revenue 8% in the second quarter to $24.56 billion from a year earlier with gains across its businesses, including increased deliveries of commercial aircraft. Boeing has been ramping up production of its best-selling 737 Max airplanes to 47 a month, with further increases planned.

Tune in at 9:05 a.m. ET as Boeing CEO Kelly Ortberg joins CNBC TV to discuss earnings. Watch in real time on CNBC+ or the CNBC Pro stream.

Boeing's commercial aircraft deliveries in the second quarter rose 14% from a year earlier to 171 planes from 150 a year earlier.

Free cash flow of $631 million came in well above the $177 million cash burn analysts expected, and compares to $200 million burn in the second quarter a year ago.

Boeing reported a net loss of $428 million, or 67 cents a share, compared with a net loss last year of $612 million, or 92 cents a share. Adjusting for one-time items, Boeing reported a loss of 76 cents a share.

"While two quarters don't make a year, if we work together and stay focused on safety, quality and on-time performance — we'll improve our competitiveness and set ourselves up for a big second half," Ortberg said in the staff note.

Upcoming milestones include the certification of other delayed aircraft programs. First will likely be the Boeing 737 Max 7, the smallest aircraft in the family of planes.

Boeing executives will hold a call with analysts at 10:30 a.m. ET, where they'll likely face questions about certification of the 737 Max 10 and the 777X, its new wide-body aircraft.

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ToplineProsecutors in Taiwan detained an Nvidia employee as part of an investigation into alleged smuggling of AI servers into China—which were powered by Nvidia’s advanced chips in violation of U.S. export controls—according to multiple reports on Tuesday.

Prosecutors in Taiwan detained an Nvidia staffer as part of a probe into smuggling of advances AI chips into China.

Getty Images

Key FactsIn a statement on Tuesday, Keelung District Prosecutors Office identified the suspect by his surname, Chang, and said he was summoned for questioning after investigators searched his residence and workplace last week.

The statement didn’t mention Chang’s employer’s name, but Bloomberg and Reuters reported they are an Nvidia employee and the search targeted the chipmaker’s Taipei office.

The statement added that after the questioning, the prosecutors determined there was a “strong suspicion of criminal activity” and Chang was detained amid concerns they could flee, destroy evidence or collude with accomplices.

The prosecutor’s statement does not accuse Nvidia or any other company of wrongdoing but notes that the detained employee is suspected of multiple criminal offenses, including falsification of documents.

Forbes has reached out to Nvidia for comment.

As part of the probe, Taiwanese authorities detained several individuals in May and June—including employees of server manufacturer Super Micro—whose co-founder was arrested and charged by the U.S. Justice Department earlier this year in a related case.

What Do We Know About The Super Micro Smuggling Case?In March, the DOJ announced it had charged three people, including Super Micro co-founder Yih-Shyan “Wally” Liaw, with one count of violating U.S. export control law, one count of conspiring to smuggle goods from the U.S. and one count of conspiring to defraud the U.S. The Justice Department alleged that the trio had conspired to illegally divert advanced servers assembled in the U.S. with sophisticated American AI chips to China. Liaw, who is a U.S. citizen, was one of the two people arrested. According to the prosecutors, the three men sold servers equipped with cutting-edge Nvidia AI chips—which are subject to export controls—to China through a Southeast Asian company. The alleged smuggling generated $2.5 billion in revenue for Super Micro. The server maker noted that it was not named as a defendant in the case and said the alleged conduct by the three individuals violated the company’s “policies and compliance controls.” The company also said it had placed Liaw and another staffer on administrative leave and severed ties with the contractor who was charged as part of the probe.

TangentIn a statement shared with Bloomberg, an unnamed Nvidia spokesperson said smuggling was a “nonstarter” for the company and the company sells its products to well-known partners to ensure compliance with export control rules. The spokesperson also said any diverted chips would receive “no service, support or updates.”

further readingSuper Micro Shares Plunge 25% After Co-Founder Charged In $2.5 Billion AI Chip Smuggling Plot (Forbes)

Dai ichi Life Insurance Company Ltd cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 10.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,475 shares of the financial services provider’s stock after selling 18,675 shares during the period. JPMorgan Chase & Co. comprises about 1.3% of Dai ichi Life Insurance Company Ltd’s portfolio, making the stock its 10th biggest position. Dai ichi Life Insurance Company Ltd’s holdings in JPMorgan Chase & Co. were worth $45,146,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in JPM. Timmons Wealth Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth about $27,000. MBM Wealth Consultants LLC acquired a new stake in JPMorgan Chase & Co. in the first quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $32,000. Turning Point Benefit Group Inc. acquired a new position in JPMorgan Chase & Co. during the 3rd quarter worth approximately $35,000. Finally, Osbon Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance Shares of JPM stock opened at $356.15 on Tuesday. The stock’s 50-day moving average is $324.84 and its two-hundred day moving average is $311.12. The firm has a market cap of $954.30 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 1.47 and a beta of 0.99. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $359.05. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, topping analysts’ consensus estimates of $5.59 by $0.55. The business had revenue of $58.02 billion for the quarter, compared to analysts’ expectations of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The business’s revenue was up 27.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.96 earnings per share. Analysts predict that JPMorgan Chase & Co. will post 23.97 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a $1.50 dividend. The ex-dividend date is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.7%. JPMorgan Chase & Co.’s payout ratio is currently 25.71%.

Insider Activity In related news, CFO Jeremy Barnum sold 3,022 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the sale, the chief financial officer owned 32,438 shares in the company, valued at $10,036,641.58. This represents a 8.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the sale, the general counsel owned 40,961 shares of the company’s stock, valued at approximately $13,547,031.53. This represents a 11.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 18,876 shares of company stock valued at $5,907,051. 0.41% of the stock is currently owned by company insiders.

More JPMorgan Chase & Co. News Here are the key news stories impacting JPMorgan Chase & Co. this week:

Positive Sentiment: Strong earnings momentum: JPMorgan’s record second-quarter performance, including sharply higher earnings and revenue that exceeded analyst expectations, has reinforced investor confidence in its lending, trading and investment-banking operations. JPMorgan and Goldman Posted Record Quarters Positive Sentiment: Rising earnings estimates: Analysts are increasing their profit forecasts for JPMorgan, a trend that can support further near-term gains as investors reassess the bank’s earnings outlook. Earnings Estimates Rising for JPMorgan Chase Positive Sentiment: New payments opportunity: South Korea’s KB Kookmin Bank plans to use JPMorgan’s Kinexys blockchain for cross-border U.S.-dollar payments across 10 countries. The agreement highlights potential growth for JPMorgan’s institutional payments and digital-assets infrastructure. South Korea’s Largest Bank to Launch Payment Service on JPMorgan’s Kinexys Positive Sentiment: AI and efficiency appeal: Analysts continue to view JPMorgan favorably as it applies artificial intelligence to reduce costs and improve productivity, while maintaining strong cash generation and a diversified revenue base. These 3 AI Winners Don’t Sell the Tech—They Use It Neutral Sentiment: CEO Jamie Dimon’s account of his 2020 health crisis is personal and does not materially change JPMorgan’s current earnings or valuation outlook. Jamie Dimon Reveals the Moment He Knew It Might Be Goodbye Negative Sentiment: Risk warnings temper optimism: Dimon cautioned that investors may be underestimating geopolitical, fiscal and valuation risks. Rising consumer credit-card delinquencies and unusually volatile markets also represent potential pressure on future loan quality and results. Jamie Dimon Said Markets Are Underestimating Risks Analyst Upgrades and Downgrades A number of brokerages have recently weighed in on JPM. Truist Financial raised their price objective on shares of JPMorgan Chase & Co. from $344.00 to $352.00 and gave the company a “hold” rating in a report on Wednesday, July 15th. HSBC increased their target price on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a “hold” rating in a report on Monday, May 4th. Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Robert W. Baird upped their price objective on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Finally, Bank of America raised their target price on JPMorgan Chase & Co. from $408.00 to $420.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $358.67.

Check Out Our Latest Stock Analysis on JPM

JPMorgan Chase & Co. Company Profile (Free Report)

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

Read More Five stocks we like better than JPMorgan Chase & Co. AirJoule’s Kubota Deal Is a Major Validation—But the Hard Part Comes Next Dividend Stocks May Be the Quiet Rotation Trade Investors Are Missing Now Refiner Stocks Are Near Record Highs—Can Iran-Driven Margins Keep Them There? Verizon May Be an AI Infrastructure Stock Hiding in Plain Sight Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM – Free Report).

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