NEW YORK, April 22, 2026 (GLOBE NEWSWIRE) -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Integer Holdings Corporation (NYSE: ITGR) breached their fiduciary duties to shareholders.
According to a federal securities lawsuit, Insiders at Integer caused the company to misrepresent or fail to disclose that: (1) Integer materially overstated its competitive position within the growing EP manufacturing market; (2) despite Integer’s claims of strong visibility into customer demand, the Company was experiencing a sustained deterioration in sales relating to two of its EP devices; (3) in turn, Integer mischaracterized its EP devices as a long-term growth driver for the Company’s C&V segment; and (4) as a result of the above, positive statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you currently own ITGR and purchased prior to July 25, 2024 please contact Justin Kuehn, Esq. by email at [email protected] or call (833) 672-0814. Kuehn Law pays all case costs and does not charge its investor clients. Shareholders should contact the firm immediately as there may be limited time to enforce your rights.
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Stock to Watch: Integer (ITGR - Free Report) Plano, TX-based Integer Holdings Corporation is a medical device contract development and manufacturing organization, serving the cardiac rhythm management, neuromodulation, and cardio and vascular markets. It serves as a partner to medical device companies and original equipment manufacturers (OEMs) and provides innovative, high-quality products and solutions. Its brands include Greatbatch Medical and Lake Region Medical, while its primary customers include large, multi-national OEMs and their affiliated subsidiaries.
ITGR is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 13.16; value investors should take notice.
For fiscal 2026, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.07 to $6.47 per share. ITGR boasts an average earnings surprise of +3%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, ITGR should be on investors' short list.
PLANO, Texas, April 29, 2026 (GLOBE NEWSWIRE) -- Integer Holdings Corporation (NYSE: ITGR), a leading medical device contract development and manufacturing organization, today announced participation in the 2026 Bank of America Healthcare Conference, to be held May 12-14, 2026. Members of the Integer executive leadership team will participate in a fireside chat on Tuesday, May 12, at 1:40 p.m. PT.
A live webcast and replay will be accessible under “News & Events” on the Investor Relations section of Integer’s website at investor.integer.net.
Learn more about Integer at www.integer.net.
About Integer®
Integer Holdings Corporation (NYSE: ITGR) is one of the largest medical device contract development and manufacturing organizations (CDMOs) in the world, serving the cardio and vascular, neuromodulation, and cardiac rhythm management markets. As a strategic partner of choice, we advance the goals of our medical device customers through industry-leading engineering and manufacturing, with a relentless commitment to quality, service, and innovation. The company's brands include Greatbatch Medical® and Lake Region Medical®. Additional information is available at www.integer.net.
PLANO, Texas, April 30, 2026 (GLOBE NEWSWIRE) -- Integer Holdings Corporation (NYSE: ITGR), a leading global medical device contract development and manufacturing organization (CDMO), today announced that its Board of Directors (the “Board”) has initiated a strategic review. In consultation with its financial and legal advisors, the Board will consider a full range of potential opportunities including, but not limited to, a sale, merger, or strategic business combination as compared to the value creation opportunities from continued execution of the Company’s standalone strategy. The Board is committed to pursuing the best interests of the Company and its stockholders to maximize value.
“Integer is recognized as an industry leader, with world-class engineering and manufacturing capabilities, strong long-term customer relationships, a broad and deep portfolio, a robust and diversified pipeline, and exposure to attractive high-growth markets,” said Pamela G. Bailey, Integer’s Chair of the Board. “The Board remains confident in Integer’s strategy and long-term growth prospects. However, given the strong interest we have received in the Company, the Board believes now is the right time to consider all opportunities to further enhance stockholder value.”
“Over the past several years and through disciplined execution of our strategy, we have continued to strengthen Integer’s position as a leader in the contract development and manufacturing space, building a truly differentiated company,” said Payman Khales, Integer’s President and CEO. “Integer is a trusted partner to some of the most innovative companies in the medical device ecosystem. We remain focused on delivering value for our customers while we explore all options to maximize value for our stockholders.”
There is no deadline or definitive timeline set for the completion of the strategic review, and there can be no assurance that the review will result in any transaction or other outcome. Integer does not intend to make any further public comments on the process unless and until it determines that further disclosure is appropriate or necessary.
Advisors
Goldman Sachs & Co. LLC is serving as Integer’s financial advisor and Davis Polk & Wardwell LLP as legal advisor.
First Quarter 2026 Results
In a separate press release issued today, Integer reported first quarter 2026 financial results. The Company will host a conference call today at 8 a.m. CT / 9 a.m. ET to discuss these results.
That press release, along with other investor materials, including a slide presentation and reconciliations of certain non-GAAP measures to their nearest GAAP measures, will also be available on investor.integer.net.
About Integer®
Integer Holdings Corporation (NYSE: ITGR) is one of the largest medical device contract development and manufacturing organizations (CDMOs) in the world, serving the cardio and vascular, neuromodulation, and cardiac rhythm management markets. As a strategic partner of choice, we advance the goals of our medical device customers through industry-leading engineering and manufacturing, with a relentless commitment to quality, service, and innovation. The Company's brands include Greatbatch Medical® and Lake Region Medical®. Additional information is available at www.integer.net.
Contacts
Media Relations:
Misty Tippen [email protected]
469-536-6702
Forward-Looking Statements
Some of the statements contained in this press release and other written and oral statements made from time to time by us and our representatives are not statements of historical or current fact. As such, they 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, and are subject to the safe harbor created thereby under the Private Securities Litigation Reform Act of 1995. We have based these forward-looking statements on our current expectations, and these statements are subject to known and unknown risks, uncertainties and assumptions. Forward-looking statements include, but are not limited to, statements relating to: the outcome of the strategic review process; our goals, plans, and strategic initiatives; long-term growth prospects; maximizing value for our stockholders; and other events, conditions or developments that will or may occur in the future; and timing of any of the foregoing. You can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “forecast,” “outlook,” “assume,” “potential” or “continue” or variations or the negative counterparts of these terms or other comparable terminology. These statements are only predictions and are no guarantee of future performance, and investors should not place undue reliance on forward-looking statements as predictive of future results. Actual events or results may differ materially from those stated or implied by these forward-looking statements. In evaluating these statements and our prospects, you should carefully consider the factors set forth below. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary factors and to others contained throughout this press release.
Although it is not possible to create a comprehensive list of all factors that may cause actual results to differ from the results expressed or implied by our forward-looking statements or that may affect our future results, some of these factors and other risks and uncertainties that arise from time to time are described in Item 1A, “Risk Factors” of our Annual Report on Form 10-K and in our other periodic filings with the SEC and include, but are in no way limited to, the following:
operational risks, such as our dependence upon a limited number of customers; reductions, delays or cancellations in demand from any significant customer or group of customers; pricing pressures and contractual pricing restraints we face from customers; our reliance on third-party suppliers for raw materials, key products and subcomponents; the cost of raw materials, products and subcomponents that are incorporated into our products; trade regulations; changes in order forecasts; our ability to predict and meet the demand for our products; interruptions in our manufacturing operations; uncertainty surrounding macroeconomic and geopolitical factors in the U.S. and globally; our ability to attract, train and retain a sufficient number of qualified associates to maintain and grow our business; the potential for harm to our reputation and competitive advantage caused by quality problems related to our products; our ability to successfully implement a new global enterprise resource planning (“ERP”) solution; our dependence upon our information technology systems and our ability to prevent cyber-attacks and other failures; global climate change and the emphasis on Environmental, Social and Governance matters by various stakeholders; our dependence upon our senior management team and key technical personnel; and consolidation in the healthcare industry both at a competitor and customer level resulting in increased competition and pricing pressure;strategic risks, such as the intense competition we face and our ability to successfully market our current or new products; our ability to recover the R&D investments made in the development of new products; our customers in-sourcing or dual sourcing production; our ability to respond to changes in technology; our ability to develop new products and expand into new geographic and product markets; and our ability to successfully identify, make and integrate acquisitions to expand and develop our business in accordance with expectations;market, financial and indebtedness risks, such as our ability to accurately forecast future performance based on operating results that often fluctuate; the volatility of our stock price; our failure to meet our publicly announced guidance; the ability of our share repurchase program to enhance shareholder value; shareholder activism; our significant amount of outstanding indebtedness and our ability to remain in compliance with financial and other covenants under the credit agreement governing our Senior Secured Credit Facilities; economic and credit market uncertainties that could interrupt our access to capital markets, borrowings or financial transactions; the conditional conversion features of our Convertible Notes adversely impacting our liquidity; the conversion of our Convertible Notes diluting ownership interests of existing holders of our common stock; the counterparty risk associated with our capped call transactions; the financial and market risks related to our international sales and operations; our complex international tax profile; and our ability to realize the full value of our intangible assets;legal and compliance risks, such as legal proceedings against us; regulatory issues resulting from product complaints, recalls or regulatory audits; the potential of becoming subject to product liability or intellectual property claims; our ability to protect our intellectual property and proprietary rights; our ability to comply with customer-driven policies and third-party standards or certification requirements; our ability to obtain and/or retain necessary licenses from third parties for new technologies; our ability and the cost to comply with environmental regulations; legal and regulatory risks from our international operations; the fact that the healthcare industry is highly regulated and subject to various regulatory changes; and our business being indirectly subject to healthcare industry cost containment measures and third-party coverage and reimbursement policies that could result in reduced sales of our products; andother risks and uncertainties that arise from time to time. Unless otherwise noted, the forward-looking information in this press release is representative as of today only. Except as may be required by law, we assume no obligation to update forward-looking statements in this press release whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise.
~ First quarter results in line with February outlook ~
~ Updates 2026 outlook ranges; continues to expect 200bps above-market organic sales growth in 2027 ~
PLANO, Texas, April 30, 2026 (GLOBE NEWSWIRE) -- Integer Holdings Corporation (NYSE:ITGR) today announced results for the three months ended April 3, 2026.
First Quarter 2026 Highlights (compared to First Quarter 2025, except as noted)
Sales increased 0.5% to $440 million, with organic growth of 1.3%.GAAP operating income from continuing operations decreased $18 million to $32 million, a decrease of 36%. Non-GAAP adjusted operating income decreased $10 million to $61 million, a decrease of 14%.GAAP income from continuing operations increased $39 million to $17 million, an increase of 173%. Non-GAAP adjusted net income decreased $5 million to $41 million, a decrease of 10%.GAAP diluted EPS income from continuing operations increased $1.14 to $0.48, an increase of 173%. Non-GAAP adjusted EPS decreased $0.11 to $1.20, a decrease of 8%.Adjusted EBITDA decreased $6 million to $85 million, a decrease of 7%.From the end of 2025, total debt increased $66 million to $1.252 billion and Non-GAAP net total debt increased $74 million to $1.264 billion, resulting in a leverage ratio of 3.2 times adjusted EBITDA as of April 3, 2026. “First quarter financial performance was in line with our outlook and primarily reflected the previously communicated headwinds associated with the three new products,” said Payman Khales, Integer’s President and CEO. “Given recent customer forecast updates and market dynamics, we believe it was prudent to further risk adjust our outlook. We remain focused on executing our strategy, navigating the temporary headwinds, and building momentum during the second half of 2026. We expect to return to 200 basis points above-market organic sales growth in 2027.”
Discussion of Product Line First Quarter 2026 Sales
Cardio & Vascular sales increased 1% to $262 million in the first quarter 2026 compared to the first quarter 2025, reflecting the previously communicated headwinds associated with the two new products in Electrophysiology.Cardiac Rhythm Management & Neuromodulation sales increased 5% to $168 million in the first quarter 2026 compared to the first quarter 2025. Cardiac Rhythm Management growth was partially offset by the previously communicated headwind in Neuromodulation.Other Markets sales decreased $9 million to $10 million in the first quarter 2026 compared to the first quarter 2025, primarily driven by a decline in Portable Medical from the multi-year exit announced in 2022. 2026 Outlook(a)
(dollars in millions, except per share amounts) GAAP Non-GAAP(b) As Reported Change from
Prior Year Adjusted Change from
Prior YearSales $1,805 to $1,835 (3)% to (1)% N/A N/AOperating income $165 to $185 (25)% to (16)% $285 to $305 (11)% to (5)%EBITDA N/A N/A $375 to $399 (7)% to (1)%Net income $105 to $125 2% to 21% $200 to $220 (11)% to (3)%Diluted earnings per share $3.07 to $3.64 6% to 26% $5.83 to $6.40 (9)% to 0%Cash flow from operating activities $185 to $205 (6)% to 5% N/A N/A (a) Except as described below, further reconciliations by line item to the closest corresponding GAAP financial measure for adjusted operating income, adjusted EBITDA, adjusted net income and adjusted earnings per share (“EPS”), included in our “2026 Outlook” above, and adjusted total interest expense, adjusted effective tax rate and leverage ratio in “Supplemental Financial Information” below, are not available without unreasonable efforts on a forward-looking basis due to the high variability, complexity and visibility of the charges excluded from these non-GAAP financial measures.
(b) Adjusted operating income for 2026 consists of GAAP operating income, excluding items such as amortization of intangible assets, restructuring and restructuring-related charges, and acquisition and integration costs, totaling approximately $120 million, pre-tax.
Adjusted net income for 2026 consists of GAAP income from continuing operations, excluding items such as amortization of intangible assets, restructuring and restructuring-related charges, acquisition and integration costs, other general expenses, and ERP implementation expenses, estimated to approximate $120 million, pre-tax. The after-tax impact of these items is estimated to be approximately $95 million, or approximately $2.76 per diluted share.
Adjusted EBITDA is expected to consist of adjusted net income, excluding items such as depreciation, interest, stock-based compensation and taxes totaling approximately $175 million to $182 million.
Supplemental Financial Information
(dollars in millions)2026
Outlook 2025
ActualDepreciation and amortization(a)$131 to $141 $131Adjusted total interest expense(b)$38 to $40 $42Stock-based compensation(a)$20 to $23 $21Restructuring, acquisition and other charges(c)$50 to $60 $36Adjusted effective tax rate(d)16.0% to 18.0% 17.2%
Leverage ratio(e)2.5x to 3.5x 3.0xCapital expenditures(f)$95 to $105 $91Cash income tax payments$24 to $28 $28 (a) Excludes amounts included in Restructuring, acquisition and other charges.
(b) Adjusted total interest expense refers to our expected full-year GAAP interest expense, expected to range from $38 million to $40 million for 2026, adjusted to remove the full-year impact of charges associated with the accelerated write-off of debt discounts and deferred issuance costs (loss on extinguishment of debt) included in GAAP interest expense, if any. Adjusted total interest expense for 2025 included GAAP interest expense of $43 million.
(c) Restructuring, acquisition and other charges consists of restructuring and restructuring-related charges, acquisition and integration costs, ERP implementation costs, other general expenses and incremental costs of complying with the new European Union medical device regulations.
(d) Adjusted effective tax rate refers to our full-year GAAP effective tax rate, expected to range from 17.0% to 19.0% for 2026, adjusted to reflect the full-year impact of the items that are excluded in providing adjusted net income and certain other identified items. Adjusted effective tax rate of 17.2% for 2025 consists of GAAP effective tax rate of 18.0% adjusted to reflect the impact on the income tax provision related to Non-GAAP adjustments.
(e) Please see “Notes Regarding Non-GAAP Financial Information” for additional information regarding leverage ratio.
(f) Capital expenditures is calculated as cash used to acquire property, plant, and equipment (PP&E) less cash proceeds from the sale of PP&E.
Summary Financial Results
(dollars in thousands, except per share data)
Three Months Ended April 3,
2026 March 28,
2025 QTD
ChangeOperating income$31,869 $49,552 (35.7)%Income (loss) from continuing operations$16,506 $(22,465) 173.5%Diluted EPS from continuing operations$0.48 $(0.66) 172.7% EBITDA(a)$65,096 $31,638 105.8%Adjusted EBITDA(a)$85,061 $91,509 (7.0)%Adjusted operating income(a)$61,053 $70,923 (13.9)%Adjusted net income(a)$41,295 $45,938 (10.1)%Adjusted EPS(a)$1.20 $1.31 (8.4)% (a) EBITDA, adjusted EBITDA, Adjusted operating income, Adjusted net income, and Adjusted EPS are non-GAAP financial measures. Please see “Notes Regarding Non-GAAP Financial Information” for additional information regarding our use of non-GAAP financial measures. Refer to Tables A, B and C at the end of this release for reconciliations of adjusted amounts to the closest corresponding GAAP financial measures.
Summary Product Line Results
(dollars in thousands)
Three Months Ended April 3,
2026 March 28,
2025 QTD
Change Organic
Change(a)Product Line Sales Cardio & Vascular$261,733 $258,871 1.1% (0.4)%Cardiac Rhythm Management & Neuromodulation 168,264 160,345 4.9% 4.9%Other Markets 9,583 18,176 (47.3)% (11.0)%Total Sales$439,580 $437,392 0.5% 1.3% (a) Organic sales change is a non-GAAP financial measure. Please see “Notes Regarding Non-GAAP Financial Information” for additional information regarding our use of non-GAAP financial measures and refer to Table D at the end of this release for a reconciliation of these amounts to the closest corresponding GAAP financial measures.
Strategic Review
Integer also announced today in a separate press release that its Board of Directors has initiated a strategic review to maximize stockholder value. In consultation with its financial and legal advisors, the Board will consider a full range of potential opportunities including, but not limited to, a sale, merger, or strategic business combination as compared to the value creation opportunities from continued execution of the Company’s standalone strategy. The Board is committed to pursuing the best interests of the Company and its stockholders to maximize value. There is no deadline or definitive timeline set for the completion of the strategic review, and there can be no assurance that the review will result in any transaction or other outcome. Integer does not intend to make any further public comments on the process unless and until it determines that further disclosure is appropriate or necessary.
Conference Call Information
The Company will host a conference call on Thursday, April 30, 2026, at 8 a.m. CT / 9 a.m. ET to discuss these results. The scheduled conference call will be webcast live and is accessible through our website at investor.integer.net or by dialing (800) 715-9871 (U.S.) or (646) 307-1963 (outside U.S.) and the conference ID is 3120125. The call will be archived on the Company’s website. An earnings call slide presentation containing supplemental information about the Company’s results will be posted to our website at investor.integer.net prior to the conference call and will be referenced during the conference call.
From time to time, the Company posts information that may be of interest to investors on its website. To automatically receive Integer financial news by email, please visit investor.integer.net and subscribe to email alerts.
About Integer®
Integer Holdings Corporation (NYSE: ITGR) is one of the largest medical device contract development and manufacturing organizations (CDMOs) in the world, serving the cardio and vascular, neuromodulation, and cardiac rhythm management markets. As a strategic partner of choice, we advance the goals of our medical device customers through industry-leading engineering and manufacturing, with a relentless commitment to quality, service, and innovation. The company's brands include Greatbatch Medical® and Lake Region Medical®. Additional information is available at www.integer.net.
In addition to our results reported in accordance with generally accepted accounting principles in the United States of America (“GAAP”), we provide adjusted net income, adjusted EPS, earnings before interest, taxes, depreciation and amortization (“EBITDA”), adjusted EBITDA, adjusted operating income, and organic sales change. Unless otherwise indicated, all financial metrics presented reflect continuing operations only.
Adjusted net income and adjusted EPS consist of GAAP income (loss) from continuing operations and diluted EPS from continuing operations, respectively, adjusted for the following to the extent occurring during the period: (i) amortization of intangible assets, (ii) certain legal expenses; (iii) restructuring and restructuring-related charges; (iv) acquisition and integration costs; (v) other general expenses; (vi) ERP implementation, (vii) (gain) loss on equity investments; (viii) extinguishment of debt charges, (ix) debt conversion inducement expense; (x) European Union medical device regulation incremental charges; (xi) inventory step-up amortization; (xii) unusual, or infrequently occurring items; (xiii) the income tax provision (benefit) related to these adjustments and (xiv) certain tax items that are outside the normal tax provision for the period. Adjusted EPS is calculated by dividing adjusted net income by adjusted weighted average shares.
The weighted average shares used to calculate diluted EPS in accordance with GAAP includes dilution, when applicable, resulting from the potential conversion of our 2028 Convertible Notes and 2030 Convertible Notes (collectively, the “Convertible Notes”). In connection with the issuance of the Convertible Notes, we entered into capped call contracts which are expected to reduce the potential dilution on our common stock in connection with any conversion of the Convertible Notes, subject to a cap. Adjusted weighted average shares consists of GAAP weighted average shares used to calculate diluted EPS, including, when applicable, dilutive common stock equivalents that were excluded from weighted average shares used to calculate diluted EPS as their inclusion would be anti-dilutive and excluding, when applicable, dilution resulting from the potential conversion of our Convertible Notes expected to be offset by the capped call contracts.
EBITDA is calculated by adding back interest expense, provision for income taxes, depreciation expense, and amortization expense from intangible assets and financing leases, to income (loss) from continuing operations, which is the most directly comparable GAAP financial measure. Adjusted EBITDA consists of EBITDA plus adding back stock-based compensation and the same adjustments as listed above except for items (i), (viii), (xiii) and (xiv). Adjusted operating income consists of operating income adjusted for the same items listed above except for items (vii), (viii), (ix), (xiii) and (xiv).
Organic sales change is reported sales growth adjusted to remove the impact of foreign currency, the contribution of acquisitions and the strategic exit of the Portable Medical market. To calculate the impact of foreign currency on sales growth rates, we convert any sale made in a foreign currency by converting current period sales into prior period sales using the exchange rate in effect at that time and then compare the two, negating any effect foreign currency had on our transactional revenue. For contribution of acquisitions, we exclude the impact on the growth rate attributable to the contribution of acquisitions in all periods where there were no comparable sales. For the strategic exit of the Portable Medical market, we exclude the impact on the growth rate attributable to Portable Medical sales for all periods presented.
We believe that the presentation of adjusted net income, adjusted EPS, EBITDA, adjusted EBITDA, adjusted operating income, and organic sales change, provides important supplemental information to management and investors seeking to understand the financial and business trends relating to our financial condition and results of operations. In addition to the performance measures identified above, we believe that net total debt and leverage ratio provide meaningful measures of liquidity and a useful basis for assessing our ability to fund our activities, including the financing of acquisitions and debt repayments. Net total debt is calculated as total principal amount of debt outstanding less cash and cash equivalents. We calculate leverage ratio as net total debt divided by adjusted EBITDA for the trailing 4 quarters.
Forward-Looking Statements
Some of the statements contained in this press release and other written and oral statements made from time to time by us and our representatives are not statements of historical or current fact. As such, they 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, and are subject to the safe harbor created thereby under the Private Securities Litigation Reform Act of 1995. We have based these forward-looking statements on our current expectations, and these statements are subject to known and unknown risks, uncertainties and assumptions. Forward-looking statements include, but are not limited to, statements relating to: our goals, plans, and strategic initiatives; our 2026 outlook, including with respect to future sales, organic sales, cash flows from operating activities, operating income, EBITDA, net income, diluted earnings per share, expenses, and profitability; 2026 outlook for depreciation and amortization, interest expense, stock-based compensation, restructuring, acquisition and other charges, effective tax rate, leverage ratio, capital expenditures and cash income tax payments; building momentum during the second half of 2026; our 2027 outlook, including a return to 200 basis points above-market organic sales growth; expected market growth rates; our strategy of advancing our customers’ goals through industry-leading engineering and manufacturing; the outcome of a strategic review process; other events, conditions or developments that will or may occur in the future; and the timing of any of the foregoing. You can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “forecast,” “outlook,” “assume,” “potential” or “continue” or variations or the negative counterparts of these terms or other comparable terminology. These statements are only predictions and are no guarantee of future performance, and investors should not place undue reliance on forward-looking statements as predictive of future results. Actual events or results may differ materially from those stated or implied by these forward-looking statements. In evaluating these statements and our prospects, you should carefully consider the factors set forth below. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary factors and to others contained throughout this report.
Although it is not possible to create a comprehensive list of all factors that may cause actual results to differ from the results expressed or implied by our forward-looking statements or that may affect our future results, some of these factors and other risks and uncertainties that arise from time to time are described in Item 1A, “Risk Factors” of our Annual Report on Form 10-K and in our other periodic filings with the SEC and include, but are in no way limited to, the following:
operational risks, such as our dependence upon a limited number of customers; reductions, delays or cancellations in demand from any significant customer or group of customers; pricing pressures and contractual pricing restraints we face from customers; our reliance on third-party suppliers for raw materials, key products and subcomponents; the cost of raw materials, products and subcomponents that are incorporated into our products; trade regulations; changes in order forecasts; our ability to predict and meet the demand for our products; interruptions in our manufacturing operations; uncertainty surrounding macroeconomic and geopolitical factors in the U.S. and globally; our ability to attract, train and retain a sufficient number of qualified associates to maintain and grow our business; the potential for harm to our reputation and competitive advantage caused by quality problems related to our products; our ability to successfully implement a new global enterprise resource planning (“ERP”) solution; our dependence upon our information technology systems and our ability to prevent cyber-attacks and other failures; global climate change and the emphasis on Environmental, Social and Governance matters by various stakeholders; our dependence upon our senior management team and key technical personnel; and consolidation in the healthcare industry both at a competitor and customer level resulting in increased competition and pricing pressure;strategic risks, such as the intense competition we face and our ability to successfully market our current or new products; our ability to recover the R&D investments made in the development of new products; our customers in-sourcing or dual sourcing production; our ability to respond to changes in technology; our ability to develop new products and expand into new geographic and product markets; and our ability to successfully identify, make and integrate acquisitions to expand and develop our business in accordance with expectations;market, financial and indebtedness risks, such as our ability to accurately forecast future performance based on operating results that often fluctuate; the volatility of our stock price; our failure to meet our publicly announced guidance; the ability of our share repurchase program to enhance shareholder value; shareholder activism; our significant amount of outstanding indebtedness and our ability to remain in compliance with financial and other covenants under the credit agreement governing our Senior Secured Credit Facilities; economic and credit market uncertainties that could interrupt our access to capital markets, borrowings or financial transactions; the conditional conversion features of our Convertible Notes adversely impacting our liquidity; the conversion of our Convertible Notes diluting ownership interests of existing holders of our common stock; the counterparty risk associated with our capped call transactions; the financial and market risks related to our international sales and operations; our complex international tax profile; and our ability to realize the full value of our intangible assets;legal and compliance risks, such as legal proceedings against us; regulatory issues resulting from product complaints, recalls or regulatory audits; the potential of becoming subject to product liability or intellectual property claims; our ability to protect our intellectual property and proprietary rights; our ability to comply with customer-driven policies and third-party standards or certification requirements; our ability to obtain and/or retain necessary licenses from third parties for new technologies; our ability and the cost to comply with environmental regulations; legal and regulatory risks from our international operations; the fact that the healthcare industry is highly regulated and subject to various regulatory changes; and our business being indirectly subject to healthcare industry cost containment measures and third-party coverage and reimbursement policies that could result in reduced sales of our products; andother risks and uncertainties that arise from time to time. Unless otherwise noted, the forward-looking information in this press release is representative as of today only. Except as may be required by law, we assume no obligation to update forward-looking statements in this press release whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise.
Condensed Consolidated Balance Sheets - Unaudited(in thousands) April 3,
2026 December 31,
2025ASSETS Current assets: Cash and cash equivalents$8,115 $17,161 Accounts receivable, net 327,776 346,079 Inventories 284,475 253,739 Contract assets 115,727 112,546 Prepaid expenses and other current assets 38,671 40,572 Total current assets 774,764 770,097 Property, plant and equipment, net 533,144 536,427 Goodwill 1,106,767 1,110,908 Other intangible assets, net 806,335 825,435 Deferred income taxes 8,983 8,994 Operating lease assets 85,098 98,437 Financing lease assets 57,071 37,109 Other long-term assets 39,557 23,170 Total assets$3,411,719 $3,410,577 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable$115,001 $113,130 Operating lease liabilities 8,111 9,099 Accrued expenses and other current liabilities 83,232 109,812 Total current liabilities 206,344 232,041 Long-term debt 1,251,527 1,185,179 Deferred income taxes 115,099 116,327 Operating lease liabilities 69,291 81,899 Financing lease liabilities 52,530 28,578 Other long-term liabilities 20,036 19,910 Total liabilities 1,714,827 1,663,934 Stockholders’ equity: Common stock 35 35 Additional paid-in capital 755,873 771,223 Treasury stock (114,234) (76,872)Retained earnings 1,010,561 994,055 Accumulated other comprehensive income 44,657 58,202 Total stockholders’ equity 1,696,892 1,746,643 Total liabilities and stockholders’ equity$3,411,719 $3,410,577 Condensed Consolidated Statements of Operations - Unaudited(in thousands, except per share data) Three Months Ended April 3,
2026 March 28,
2025Sales$439,580 $437,392 Cost of sales 329,985 317,074 Gross profit 109,595 120,318 Operating expenses: Selling, general and administrative 58,711 51,160 Research, development and engineering 16,243 14,201 Restructuring and other charges 2,772 5,405 Total operating expenses 77,726 70,766 Operating income 31,869 49,552 Interest expense 9,734 14,805 (Gain) loss on equity investments 1,468 (181)Other loss, net 316 47,927 Income (loss) from continuing operations before taxes 20,351 (12,999)Provision for income taxes 3,845 9,466 Income (loss) from continuing operations 16,506 (22,465)Loss from discontinued operations, net of tax — (22)Net income (loss)$16,506 $(22,487) Basic earnings (loss) per share: Income (loss) from continuing operations$0.48 $(0.66)Loss from discontinued operations$— $— Basic earnings (loss) per share$0.48 $(0.66) Diluted earnings (loss) per share: Income (loss) from continuing operations$0.48 $(0.66)Loss from discontinued operations$— $— Diluted earnings (loss) per share$0.48 $(0.66) Weighted average shares outstanding: Basic 34,278 33,916 Diluted 34,433 33,916 Condensed Consolidated Statements of Cash Flows - Unaudited(in thousands) Three Months Ended April 3,
2026 March 28,
2025Cash flows from operating activities: Net income (loss)$16,506 $(22,487)Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization 35,011 29,832 Debt related charges included in interest expense 1,625 1,882 Debt conversion inducement expense — 46,681 Stock-based compensation 6,662 6,880 Non-cash lease expense 2,452 2,455 Non-cash gains on equity investments 1,468 (181)Other non-cash losses 716 2,574 Deferred income taxes 17 4,055 Gain on sale of discontinued operations — (46)Changes in operating assets and liabilities, net of acquisitions: Accounts receivable 18,583 (18,232)Inventories (32,386) (7,695)Prepaid expenses and other assets (2,843) (1,169)Contract assets (3,313) 1,219 Accounts payable 9,440 10,207 Accrued expenses and other liabilities (30,647) (23,495)Income taxes payable 1,404 (1,204)Net cash provided by operating activities 24,695 31,276 Cash flows from investing activities: Acquisition of property, plant and equipment (23,958) (25,218)Proceeds from sale of property, plant and equipment 55 5 Purchase of equity and other investments, net of distributions (13,998) — Acquisitions, net — (171,954)Net cash used in investing activities (37,901) (197,167)Cash flows from financing activities: Principal payments of long-term debt — (613,683)Proceeds from issuance of convertible notes, net of discount — 977,500 Proceeds from revolving credit facility 111,800 216,000 Payments of revolving credit facility (46,800) (342,000)Purchase of capped calls — (71,000)Tax withholdings related to net share settlements of restricted stock unit awards (9,035) (14,132)Repurchases of common stock (50,000) — Principal payments on finance leases (2,029) (1,177)Other financing activities (106) 70 Net cash provided by financing activities 3,830 151,578 Effect of foreign currency exchange rates on cash and cash equivalents 330 (519)Net decrease in cash and cash equivalents (9,046) (14,832)Cash and cash equivalents, beginning of period 17,161 46,543 Cash and cash equivalents, end of period$8,115 $31,711
Table A: Adjusted Net Income and Diluted EPS from Continuing Operations Reconciliations
(in thousands, except per share amounts)
Three Months Ended April 3, 2026 March 28, 2025 Pre-Tax Net of
Tax Per
Diluted
Share(a) Pre-Tax Net of
Tax Per
Diluted
Share(a)Income (loss) from continuing operations (GAAP)$20,351 $16,506 $0.48 $(12,999) $(22,465) $(0.66)Adjustments(b): Amortization of intangible assets 15,994 12,923 0.38 14,851 11,949 0.34 Certain legal expenses (SG&A)(c) 208 164 — 102 81 — Restructuring and restructuring-related charges(d) 1,848 1,460 0.04 1,102 889 0.03 Acquisition and integration costs(e) 1,442 1,143 0.03 4,742 3,751 0.11 Other general expenses(f) 723 571 0.02 (1) (1) — ERP implementation(g) 3,353 2,649 0.08 — — — (Gain) loss on equity investments(h) 1,468 1,159 0.03 (181) (143) — Loss on extinguishment of debt(i) — — — 737 582 0.02 Debt conversion inducement expense(j) — — — 46,681 46,681 1.33 Medical device regulations(k) 300 237 0.01 250 197 0.01 Other adjustments(l) 5,316 4,200 0.12 325 256 0.01 Tax adjustments(m) — 283 0.01 — 4,161 0.12 Impact of capped call option contracts(n) — — — — — 0.02 Adjusted net income (non-GAAP)$51,003 $41,295 $1.20 $55,609 $45,938 $1.31 (a) Income from continuing operations (GAAP) per diluted share amounts are calculated in accordance with GAAP using weighted average shares for diluted EPS. The per share amounts for the adjustments in the table above and adjusted net income are calculated using adjusted weighted average shares. For purposes of measuring diluted loss per share under GAAP, common stock equivalents were excluded from weighted average shares for the first quarter of 2025 as their inclusion would be anti-dilutive. However, for purposes of computing Adjusted EPS, the Company has included the impact of dilutive common stock equivalents for the first quarter of 2025. The following table provides a reconciliation from GAAP weighted average shares for diluted EPS to non-GAAP adjusted weighted average shares.
Three Months Ended April 03, 2026 March 28, 2025Weighted average shares for diluted EPS (GAAP)34,433 33,916 Add: Dilutive common stock equivalents— 2,036 Less: 2028 Convertible Notes capped call options impact— (803)Adjusted weighted average shares (non-GAAP)34,433 35,149
(b) The difference between pre-tax and net of tax amounts is the estimated tax impact related to the respective adjustment. Net of tax amounts are computed using a 21% U.S. tax rate, and the statutory tax rates applicable in foreign tax jurisdictions, as adjusted for the existence of net operating losses (“NOLs”). Expenses that are not deductible for tax purposes (i.e. permanent tax differences) are added back at 100%.
(c) Certain legal expenses associated with non-ordinary course legal matters.
(d) We initiate discrete restructuring programs primarily to realign resources to better serve our customers and markets, improve operational efficiency and capabilities, and lower operating costs or improve profitability. Depending on the program, restructuring charges may include termination benefits, contract termination, facility closure and other exit and disposal costs. Restructuring-related expenses are directly related to the program and may include retention bonuses, accelerated depreciation, consulting expense and costs to transfer manufacturing operations among our facilities.
(e) Acquisition and integration costs are incremental costs that are directly related to a business or asset acquisition. These costs may include, among other things, professional, consulting and other fees, system integration costs, and fair value adjustments relating to contingent consideration.
(f) Other general expenses are discrete transactions occurring sporadically and affect period-over-period comparisons.
(g) These adjustments represent direct and incremental costs incurred in connection with our implementation of a new global enterprise resource planning ("ERP") solution and related IT transition costs. An implementation of this scale is a significant undertaking and will require substantial time and attention of management and key employees. The associated costs do not represent normal and recurring operating expenses and will be inconsistent in amounts and frequency making it difficult to contribute to a meaningful evaluation of our operating performance. Expenses for 2026 were primarily included in SG&A.
(h) Amounts reflect our share of equity method investee (gains) losses including unrealized appreciation/depreciation of the underlying interests of the investee.
(i) Loss on extinguishment of debt consists of accelerated write-offs of unamortized deferred debt issuance costs and discounts, which are included in interest expense.
(j) Debt conversion inducement expense relates to the partial exchange of the 2028 Convertible Notes and is recorded within Other loss, net in the Condensed Consolidated Statements of Operations.
(k) The charges represent incremental costs of complying with European Union medical device regulations for previously registered products and primarily include charges for contractors supporting the project and other direct third-party expenses.
(l) Other adjustments include costs which impact period-to-period comparability and do not represent the underlying ongoing results of our business. Amounts in 2026 primarily relate to costs associated with leadership transitions and a stockholder activist matter. Leadership transition costs primarily include severance costs associated with the departure of executives and incremental costs associated with the related leadership transitions. For the first quarter of 2026, leadership transition costs and stockholder activist related costs amounted to $1.4 million and $3.2 million, respectively.
(m) Tax adjustments predominately relate to changes to uncertain tax benefits and associated interest. During the first quarter of 2025 we wrote off a deferred tax asset of $4.1 million related to a portion of the unamortized original issue discount due to the partial exchange of the 2028 Convertible Notes.
(n) Represents the per share amount attributable to the reduction in dilution upon assumed exercise of the capped call option contracts.
Please see “Notes Regarding Non-GAAP Financial Information” for additional information regarding our use of non-GAAP financial measures.
Table B: Adjusted Operating Income Reconciliations
(in thousands)
Three Months Ended April 3,
2026 March 28,
2025Operating income (GAAP)$31,869 $49,552 Adjustments: Amortization of intangible assets 15,994 14,851 Certain legal expenses 208 102 Restructuring and restructuring-related charges 1,848 1,102 Acquisition and integration costs 1,442 4,742 Other general expenses 723 (1)ERP implementation 3,353 — Medical device regulations 300 250 Other adjustments 5,316 325 Adjusted operating income (non-GAAP)$61,053 $70,923
Table C: EBITDA and Adjusted EBITDA Reconciliations
(in thousands)
Three Months Ended April 3,
2026 March 28,
2025Income from continuing operations (GAAP)$16,506 $(22,465) Interest expense 9,734 14,805 Provision for income taxes 3,845 9,466 Depreciation(a) 17,343 13,986 Amortization of intangible assets and financing leases 17,668 15,846 EBITDA (non-GAAP) 65,096 31,638 Stock-based compensation(b) 5,307 6,851 Certain legal expenses 208 102 Restructuring and restructuring-related charges 1,848 1,102 Acquisition and integration costs 1,442 4,742 Other general expenses 723 (1)ERP implementation 3,353 — (Gain) loss on equity investments 1,468 (181)Debt conversion inducement expense — 46,681 Medical device regulations 300 250 Other adjustments 5,316 325 Adjusted EBITDA (non-GAAP)$85,061 $91,509 (a) Excludes amounts included in Restructuring and restructuring-related charges.
(b) Total stock-based compensation expense less amounts included in Restructuring and restructuring-related charges, ERP implementation, and Other adjustments.
GAAP
Reported
Growth Impact of
Foreign
Currency(a) Impact of
Strategic
Exits and
Acquisitions(a) Non-GAAP
Organic
ChangeQTD Change (1Q 2026 vs. 1Q 2025) Product Line Cardio & Vascular1.1% 0.5% 1.0% (0.4)%Cardiac Rhythm Management & Neuromodulation4.9% —% —% 4.9%Other Markets(47.3)% —% (36.3)% (11.0)%Total Sales0.5% 0.3% (1.1)% 1.3% (a) Sales growth has been adjusted to exclude the impact of foreign currency exchange rate fluctuations, when applicable, and strategic exits and acquisitions.
Table E: Net Total Debt Reconciliation
(in thousands)
April 3,
2026 December 31,
2025Total debt$1,251,527 $1,185,179Add: Debt discounts and deferred issuance costs included in Total debt 20,757 22,105Total principal amount of debt outstanding 1,272,284 1,207,284Less: Cash and cash equivalents 8,115 17,161Net Total Debt (Non-GAAP)$1,264,169 $1,190,123
Integer (ITGR - Free Report) came out with quarterly earnings of $1.2 per share, missing the Zacks Consensus Estimate of $1.21 per share. This compares to earnings of $1.31 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -0.66%. A quarter ago, it was expected that this medical device outsource manufacturer would post earnings of $1.7 per share when it actually produced earnings of $1.76, delivering a surprise of +3.53%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Integer, which belongs to the Zacks Medical - Instruments industry, posted revenues of $439.58 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 3.04%. This compares to year-ago revenues of $437.39 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Integer shares have added about 6.7% since the beginning of the year versus the S&P 500's gain of 4.2%.
What's Next for Integer?While Integer 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 Integer 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 $1.58 on $462.92 million in revenues for the coming quarter and $6.47 on $1.85 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 - Instruments 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.
Another stock from the same industry, Si-Bone (SIBN - Free Report) , has yet to report results for the quarter ended March 2026. The results are expected to be released on May 11.
This medical device maker is expected to post quarterly loss of $0.17 per share in its upcoming report, which represents a year-over-year change of -13.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Si-Bone's revenues are expected to be $51.33 million, up 8.5% from the year-ago quarter.
For the quarter ended March 2026, Integer (ITGR - Free Report) reported revenue of $439.58 million, up 0.5% over the same period last year. EPS came in at $1.20, compared to $1.31 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $426.6 million, representing a surprise of +3.04%. The company delivered an EPS surprise of -0.66%, with the consensus EPS estimate being $1.21.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Integer performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Sales- Medical Sales- Other Markets: $9.58 million versus $11.17 million estimated by three analysts on average.Sales- Medical Sales- Cardio & Vascular: $261.73 million versus the three-analyst average estimate of $255.39 million. The reported number represents a year-over-year change of +1.1%.Sales- Medical Sales- Cardiac Rhythm Management & Neuromodulation: $168.26 million versus $158.67 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +4.9% change.View all Key Company Metrics for Integer here>>>
Shares of Integer have returned -3.2% over the past month versus the Zacks S&P 500 composite's +12.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Key Takeaways ITGR reported Q1 adjusted EPS of $1.20, down 8.4% Y/Y and missing estimates.ITGR posted $439.6M in revenues, up 0.5% Y/Y, beating estimates on solid product-line sales.ITGR guides 2026 revenues down 1-3% and EPS at $5.83-$6.40 amid product headwinds. Integer Holdings Corporation (ITGR - Free Report) delivered adjusted earnings per share (EPS) of $1.20 in the first quarter of 2026, which declined 8.4% year over year. The figure missed the Zacks Consensus Estimate by 0.8%.
The adjustments include expenses related to the amortization of intangible assets and restructuring and restructuring-related charges, among others.
GAAP EPS for the quarter was 48 cents, up 172.7% from the prior-year quarter.
ITGR’s Revenues in DetailInteger Holdings registered revenues of $439.6 million in the first quarter, up 0.5% year over year. The figure topped the Zacks Consensus Estimate by 3%.
Organically, revenues increased 1.3%.
Robust sales from the majority of the product lines drove the company’s top line in the reported period.
Integer Holdings’ Q1 Segmental AnalysisInteger Holdings operates through three product lines — Cardio and Vascular (C&V); Cardiac Rhythm Management & Neuromodulation (CRM&N) and Other Markets.
During the fourth quarter of 2025, management began referring to ITGR’s Advanced Surgical, Orthopedics & Portable Medical product line as the Other Markets product line. This was aimed at better capturing the evolving nature of the company’s products and ongoing strategic focus. Per management, the name change has no impact on the financial information previously reported.
In the first quarter of 2026, the C&V segment generated revenues of $262 million, reflecting a modest 1% year-over-year increase. Growth in the segment was primarily supported by continued strength in neurovascular and contributions from prior acquisitions. However, performance was partially offset by lower electrophysiology sales, mainly related to previously disclosed headwinds from certain new products.
The CRM&N segment reported revenues of $168 million, up 5% year over year. Growth was driven by solid performance in the cardiac rhythm management business, which more than offset ongoing weakness in neuromodulation. The neuromodulation decline was consistent with prior expectations and reflects previously communicated product-related headwinds.
Revenues from Other Markets declined year over year, primarily due to the continued impact of Integer Holdings’ strategic exit from the Portable Medical business. This segment remains outside the company’s core growth focus and largely reflects legacy manufacturing service agreements tied to divested operations.
ITGR’s Margin AnalysisInteger Holdings generated a gross profit of $109.6 million in the first quarter, down 8.9% year over year. The gross margin in the reported quarter contracted 260 basis points (bps) to 24.9%. We projected 26.4% of gross margin for the first quarter.
Selling, general and administrative expenses were $58.7 million, up 14.8% year over year. Research, development and engineering costs were $16.2 million in the quarter, up 14.4% year over year. Total operating expenses of $77.7 million increased 9.8% year over year.
Adjusted operating profit totaled $61.1 million, reflecting a decline of 13.9% from the prior-year quarter. Adjusted operating margin in the first quarter contracted 230 bps to 13.9%.
Integer Holdings’ Financial PositionInteger Holdings exited the first quarter of 2026 with cash and cash equivalents of $8.1 million compared with $17.2 million at the fourth-quarter end. Total debt (including the current portion) at the end of first-quarter 2026 was $1.25 billion, up from $1.19 billion at the end of the fourth quarter.
Net cash flow from operating activities at the end of first-quarter 2026 was $24.7 million compared with $31.3 million a year ago.
ITGR’s 2026 GuidanceInteger Holdings updated its 2026 outlook.
For 2026, the company now expects revenues in the range of $1.805-$1.835 billion, implying a decline of 1-3% on a reported basis from the 2025 level. On an organic basis, sales are projected to be flat to down 1%. The Zacks Consensus Estimate is pegged at $1.85 billion.
Adjusted EPS are now expected in the band of $5.83-$6.40, implying a range from flat to a 9% decline year over year. The Zacks Consensus Estimate is pegged at $6.47 per share.
Our TakeInteger Holdings exited the first quarter of 2026 with mixed results.
The modest top-line growth, coupled with a contraction in adjusted operating margin due to lower fixed-cost absorption, reflects ongoing near-term pressures on operating leverage.
On the segmental front, performance remained uneven. The Cardio & Vascular business delivered modest growth, though electrophysiology sales were impacted by previously communicated headwinds from certain new products. Meanwhile, strength in Cardiac Rhythm Management supported the CRM&N segment, partially offset by continued softness in neuromodulation. The company also maintained disciplined cost control and benefited from lower interest expense, which provided some support to earnings despite margin pressures.
Management’s revised 2026 outlook remains a key overhang. The company now expects revenues to decline 1-3% year over year, indicating customer forecast reductions and headwinds from certain new products. While the underlying business, excluding these headwinds, is still expected to grow in the low to mid-single digits, 2026 is shaping up to be a transition year, with growth expected to normalize exiting the year and reaccelerate in 2027.
However, shares of ITGR gained 5.8% in yesterday’s trading session. ITGR stock has gained 12.9% in the year-to-date period against the industry’s 17.4% decline. However, the S&P 500 Index has increased 6.2% during the same time frame.
Image Source: Zacks Investment Research
Integer Holdings’ Zacks Rank & Key PicksInteger Holdings currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space that are expected to report earnings soon are DexCom, Inc. (DXCM - Free Report) , Encompass Health Corporation (EHC - Free Report) and The Cooper Companies, Inc. (COO - Free Report) .
The Zacks Consensus Estimate for DexCom’s first-quarter 2026 adjusted EPS is currently pegged at 47 cents. The consensus estimate for revenues is pegged at $1.18 billion. DXCM currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DexCom has an estimated long-term growth rate of 20.6%. DXCM’s earnings yield of 4.1% compares favorably with the industry’s negative yield.
Encompass Health currently has a Zacks Rank #2. The Zacks Consensus Estimate for its first-quarter 2026 adjusted EPS is currently pegged at $1.51. The same for revenues is pegged at $1.57 billion.
Encompass Health has an estimated long-term growth rate of 8.8%. EHC’s earnings yield of 5.9% compares favorably with the industry’s 5.6%.
Cooper Companies currently carries a Zacks Rank #2. The Zacks Consensus Estimate for its second-quarter fiscal 2026 adjusted EPS is currently pegged at $1.10. The same for its revenues is pegged at $1.05 billion.
Cooper Companies has an estimated long-term growth rate of 8.4%. COO’s earnings yield of 7.2% compares favorably with the industry’s 6.1%.
Integer Holdings reported quarterly earnings of $1.20 per share which beat the analyst consensus estimate of $1.19 per share. The company reported quarterly sales of $439.580 million which beat the analyst consensus estimate of $426.477 million.
Integer Holdings cut its FY2026 adjusted EPS guidance from $6.29-$6.78 to $5.83-$6.40 vs and lowered FY2026 sales guidance from $1.826B-$1.876B to $1.805B-$1.835B.
Integer shares fell 5.6% to trade at $83.60 on Friday.
These analysts made changes to their price targets on Integer following earnings announcement.
Piper Sandler analyst Matt O’Brien reiterated Integer Holdings with an Overweight rating and raised the price target from $87 to $97. Citigroup analyst Joanne Wuensch maintained the stock with a Neutral and lowered the price target from $92 to $89. Considering buying ITGR stock? Here’s what analysts think:
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Investors were eager to own shares of medical device company Integer Holdings (ITGR 0.35%) on Wednesday. This was due largely to an analyst's recommendation upgrade; that pundit now believes the company's equity is a buy.
It's now a buy, says pundit That prognosticator was Oppenheimer's Suraj Kalia, who upped his recommendation on Integer to outperform (read: buy) from the previous perform (hold). In doing so, Kalia set a price target of $115 per share.
Image source: Getty Images.
Kalia's move was based largely on Integer's recent announcement that it is conducting a "strategic review" of its business, according to reports. Such a term indicates that it is considering selling itself to an outside party, ideally for a premium to its current price.
Integer functions as a contract development and manufacturing organization (CDMO) for business outsourcing the production of medical devices. In the analyst's view, this, along with its modest valuations and share price, makes it an attractive target for private equity firms -- according to Kalia's research, several are interested in the medical device CDMO business.
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This sleeper might awaken Integer operates in a limited but profitable niche, and it tends to post top-line growth and high net margins. It's a somewhat under-the-radar healthcare stock that qualifies as a sleeper play these days. That might not last, however, if potential investors start showing notable interest.
Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
On May 13, 2026, Integer Holdings Corp ITGR shares rose 5.2% to $89.39. The stock has experienced a 52-week range between $62.00 and $123.78, indicating significant volatility. Despite today’s positive movement, ITGR's performance over the past year shows a decline of 26.1%.
GF Value™ verdict: Current price at $89.39 vs GF Value™ of $117.20, representing a 23.7% undervaluation.GF Score™ of 84/100, indicating strong overall performance.Most notable signal: Insider activity shows that insiders sold $0.1M in the last 3 months, with no buying activity. Is ITGR Overvalued or Undervalued? Integer Holdings Corp ITGR is currently trading at $89.39, which is significantly below the GF Value™ estimate of $117.20, indicating a 23.7% margin of safety for potential investors. The GF Valuation label categorizes ITGR as modestly undervalued, suggesting that the stock price does not fully reflect the company's intrinsic value.
GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. Given the current price relative to the GF Value™, ITGR presents an opportunity for investors looking for undervalued stocks, though caution is warranted due to the overall decline in share price over the past year and the lack of insider buying activity.
How Does ITGR's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 22.4x 36.9x Forward P/E 14.6x N/A ITGR's current P/E (TTM) of 22.4x is 39% below its 5-year median P/E of 36.9x, indicating that the stock is trading at a lower valuation than it has historically. This analysis aligns with the GF Value™ verdict of being undervalued, suggesting that there may be a buying opportunity for value-oriented investors.
What Does ITGR's GF Score™ Tell Us? The GF Score™ ranks stocks from 0 to 100 based on five key aspects: Financial Strength, Profitability, Growth, Valuation, and Momentum. Stocks with higher GF Score™ values have been found to generate higher long-term returns (backtested 2006-2021).
Metric Rating GF Score™ 84 Financial Strength 5/10 Profitability 8/10 Growth 7/10 Valuation 8/10 Momentum 5/10 The GF Score™ of 84/100 indicates that ITGR has strong fundamentals, particularly in profitability and valuation, with ratings of 8/10 in both categories. However, the financial strength score of 5/10 suggests moderate risk, while the momentum score of 5/10 indicates that the stock may not be experiencing strong upward trends. Overall, the scores highlight ITGR's potential for long-term growth, tempered by some risk factors.
What Are Insiders Doing with ITGR Stock? Insider activity for Integer Holdings Corp ITGR has shown a lack of confidence in the stock's near-term prospects, as insiders sold $0.1 million worth of shares in the past three months without any purchasing activity. This pattern may suggest that insiders are not bullish on the company's short-term performance, which is a factor worth considering for potential investors.
Overall, while the absence of insider buying could be seen as a negative signal, it is essential to consider it alongside the stock's valuation and performance metrics.
What This Means for Investors Based on the analysis of GF Value™, Integer Holdings Corp ITGR is currently undervalued. The stock price is significantly below its intrinsic value, presenting potential opportunities for investors looking to capitalize on its undervaluation. However, caution is warranted due to the stock's recent performance and insider selling activity.
For the complete analysis, visit the Integer Holdings Corp ITGR stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is ITGR's GF Score™?
ITGR has a GF Score™ of 84/100, which indicates strong overall performance and potential for higher long-term returns.
Is ITGR overvalued or undervalued?
ITGR is currently undervalued, with a GF Value™ of $117.20 compared to its current price of $89.39, suggesting a 23.7% margin of safety.
What is ITGR's P/E ratio?
ITGR's current P/E (TTM) is 22.4x, which is significantly lower than its 5-year median P/E of 36.9x, indicating that the stock is trading at a lower valuation than it historically has.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Sea Cliff Partners Management disclosed a purchase of 55,359 Integer Holdings (ITGR 0.35%) shares in its May 15, 2026, SEC filing, an estimated $4.71 million trade based on quarterly average pricing.
What happenedAccording to its SEC filing dated May 15, 2026, Sea Cliff Partners Management increased its position in Integer Holdings (ITGR 0.35%) by 55,359 shares during the first quarter. The estimated value of this trade was $4.71 million, based on the quarter’s average share price. The quarter-end position was worth $16.57 million. The net position change, including market movement, was $6.14 million higher than the prior quarter.
What else to knowThis was a buy; Integer Holdings now accounts for 8.56% of the fund’s 13F assets under management.Top five holdings post-filing:NASDAQ: BTSG: $33.43 million (17.3% of AUM)NYSE: WCC: $23.59 million (12.2% of AUM)NYSE: LTH: $17.70 million (9.1% of AUM)NASDAQ: OKTA: $17.32 million (8.9% of AUM)NYSE: ITGR: $16.57 million (8.6% of AUM)As of May 14, 2026, ITGR shares were priced at $89.82, down 25% over the past year and lagging the S&P 500 by over 50 percentage points.Company OverviewMetricValueRevenue (TTM)$1.85 billionNet Income (TTM)$141.80 millionMarket Capitalization$3 billionPrice (as of market close 2026-05-14)$89.82Company SnapshotInteger Holdings produces a diverse range of medical devices and components, including products for interventional cardiology, cardiac rhythm management, neuromodulation, orthopedic surgery, and surgical instruments.The firm operates as a contract manufacturer, generating revenue by designing, developing, and manufacturing devices and sub-assemblies for original equipment manufacturers in the healthcare sector.It serves multinational OEMs and their subsidiaries in cardiac, neuromodulation, orthopedics, vascular, and advanced surgical markets, with a global customer base.Integer Holdings is a leading medical device outsource manufacturer with a broad portfolio serving the global healthcare industry. The company leverages advanced manufacturing capabilities and deep engineering expertise to deliver high-quality products for complex medical applications. Its scale, technical know-how, and diversified customer relationships underpin a competitive position in the medical device supply chain.
What this transaction means for investorsThis buy ultimately looks like a calculated bet that Integer Holdings’ recent weakness may have created an opportunity ahead of a potentially transformative moment for the company. While the purchase happened before management announced a strategic review on April 30, the timing is still notable given the board later said it would explore options including a sale, merger, or other strategic combination.
The market had already been souring on Integer before that announcement. Shares were down 25% over the past year as investors worried about slowing growth and temporary headwinds tied to several new products. First-quarter results reflected some of that pressure. Sales rose just 0.5% to $440 million, while adjusted operating income fell 14% to $61 million. Management also lowered parts of its 2026 outlook and flagged customer forecast changes and broader market dynamics.
For long-term investors, the story now hinges on whether operational growth reaccelerates in 2027 as management said it expects, or whether the strategic review unlocks value sooner through a transaction.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Okta and Wesco International. The Motley Fool has a disclosure policy.
Integer Holdings Corp. is a unique, high-quality medical device CDMO trading at a depressed ~10x EBITDA multiple after a temporary growth slowdown. A strategic review, prompted by activist involvement and heightened buyer interest, positions ITGR for a likely sale within three to four months. Precedent CDMO transactions support a fair value of $110–125/share (13–14x forward EBITDA), offering 20–40% upside with limited downside risk.
PLANO, Texas, June 03, 2026 (GLOBE NEWSWIRE) -- Integer Holdings Corporation (NYSE: ITGR), a leading medical device contract development and manufacturing organization, today announced participation in the Truist Securities 2026 MedTech Conference, to be held June 16, 2026. Members of the Integer executive leadership team will participate in a fireside chat on Tuesday, June 16 at 10:40 a.m. ET.
A live webcast and replay will be accessible under “News & Events” on the Investor Relations section of Integer’s website at investor.integer.net.
Learn more about Integer at www.integer.net.
About Integer®
Integer Holdings Corporation (NYSE: ITGR) is one of the largest medical device contract development and manufacturing organizations (CDMOs) in the world, serving the cardio and vascular, neuromodulation, and cardiac rhythm management markets. As a strategic partner of choice, we advance the goals of our medical device customers through industry-leading engineering and manufacturing, with a relentless commitment to quality, service, and innovation. The company's brands include Greatbatch Medical® and Lake Region Medical®. Additional information is available at www.integer.net.
Key Takeaways Integer expects 2026 organic sales to be flat to down 1% after slower ramps and customer forecast changes.ITGR said three newer products may reduce 2026 sales growth by about 3% to 4%.ITGR Q1 revenue rose 0.5%, but margins narrowed due to lower absorption and higher expenses. Integer Holdings (ITGR - Free Report) is entering 2026 with a reset outlook that reflects more cautious customer signals and slower-than-expected ramps in a few newer programs. Management now expects organic sales to be flat to down 1% for 2026.
Adjusted earnings per share are expected to be in the range of $5.83-$6.40 after an April risk adjustment tied to customer forecast updates and slower ramps in new programs.
ITGR Sets the Stage With a Reset 2026 OutlookThe updated framing emphasizes execution and timing. Revenues are now expected to be in the range of $1.805-$1.835 billion, implying a 1% to 3% decline on a reported basis compared with 2025.
The profit outlook has also been lowered. Adjusted earnings per share is now expected in the range of $5.83-$6.40, implying flat to 9% year-over-year decline and reflecting the impact of customer forecast revisions and slower program ramps.
Image Source: Zacks Investment Research
Integer’s Business Mix Shows Where Growth Still ExistsInteger’s mix matters because the company’s three product lines are moving in different directions. Cardio & Vascular is the largest business, representing 59.7% of 2025 revenues. Cardiac Rhythm Management & Neuromodulation is the second pillar at 36.1%, while Other Markets is much smaller at 4.2% and shrinking as the company exits Portable Medical.
That mix showed up clearly in the first quarter. Cardio & Vascular revenue rose 1% year over year to $262 million, supported by neurovascular strength and contributions from prior acquisitions, even as certain electrophysiology programs remained soft.
Cardiac Rhythm Management & Neuromodulation revenue increased 5% to $168 million, with cardiac rhythm management growth more than offsetting weakness in neuromodulation. Other Markets declined, reflecting the ongoing Portable Medical exit and legacy manufacturing service agreements tied to divested operations.
Image Source: Zacks Investment Research
ITGR’s New Products Are the Near-Term DragThe most immediate headwind is the slower adoption of three recently launched products. Two are in electrophysiology, and one is in neuromodulation. Management expects these programs to reduce 2026 sales growth by about 3% to 4%.
That dynamic helps explain why the outlook was tightened despite resilience in core franchises. Until adoption normalizes, the newer programs can weigh on both volume and operational rhythm, especially when customers adjust their own schedules and ordering patterns.
Integer’s OEM Forecast Swings Limit Margin RecoveryInteger’s revenue timing is highly dependent on original equipment manufacturer ordering patterns and forecast updates, particularly in fast-moving electrophysiology. Management stated that it typically has better visibility for only the next one to two quarters through purchase orders, while rolling 12-month forecasts can be revised as customer manufacturing plans change.
That limited visibility matters operationally. When ordering shifts, plant utilization can move quickly, and the company has less ability to fully control near-term utilization and margins. In the first quarter, lower fixed-cost absorption was a key factor behind margin pressure.
ITGR’s Q1 Print Shows Resilience but Not EnoughFirst-quarter revenues were $439.6 million, up 0.5% year over year, and exceeded the Zacks Consensus Estimate by 3%. Organic revenue increased 1.3%, indicating the core portfolio continued to hold up despite drag from new-product ramps and the Portable Medical exit.
Adjusted earnings per share were $1.20, down 8.4% year over year and a modest miss versus the consensus estimate. Profitability was the bigger issue. Gross margin contracted 260 basis points to 24.9%, and adjusted operating margin fell 230 basis points to 13.9%, due to lower absorption and higher operating expenses.
This is the crux of the near-term setup: the top line is not collapsing, but margin recovery is being delayed while utilization remains constrained and newer programs ramp more slowly than planned.
Integer’s Valuation Looks Cheaper, but the Report Is CautiousITGR trades at 14.3X forward 12-month earnings, below the Zacks sub-industry of 24.3X, the Zacks sector at 19.5X, and the S&P 500 at 21.9X. Over the last five years, ITGR’s forward multiple has ranged from 9X to 24.9X, with a median of 17.8X.
The discount is notable, especially as investors compare ITGR with other Medical - Instruments names such as Globus Medical (GMED - Free Report) and Masimo Corporation , which are included in the same peer set. Still, the setup remains sensitive to execution, leverage and the timing of new-product adoption. Total debt was $1.25 billion at the end of the first quarter, and the company’s debt-to-capital ratio of 0.44 remains above the industry’s 0.28.
Image Source: Zacks Investment Research
ITGR’s Bottom Line for ReadersInteger has a pipeline and partnership model that can lift growth once electrophysiology ordering stabilizes, but near-term downside risks remain the dominant factor. The path to improved utilization and margin recovery still depends on customer ordering patterns and a return to more normal ramp behavior in the three newer products.
With Zacks Rank #4 (Sell) and a $77 price target, the risk-reward profile remains pressured until electrophysiology volatility eases and adoption timing becomes more dependable.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
– Leased 4.4 Million Square Feet with New Lease Spreads of 24% –
– Record $77 Million in Future ABR from Leased-to-Economic Occupancy Spread –
– Updates 2026 Outlook –
JERICHO, N.Y., April 30, 2026 (GLOBE NEWSWIRE) -- Kimco Realty® (NYSE: KIM), a real estate investment trust (“REIT”) and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States, today reported results for the first quarter ended March 31, 2026. For the three months ended March 31, 2026 and 2025, Net income available to the company’s common shareholders (“Net income”) per diluted share was $0.23 and $0.18, respectively.
First Quarter Highlights
Produced 4.5% growth in Funds From Operations* (“FFO”) per diluted share to $0.46.Generated blended pro-rata cash rent spreads of 11.3% on comparable leases.Achieved record leased-to-economic occupancy spread of 410 basis points, representing a $77 million, or a 28%, year-over-year increase in future Annual Base Rent (“ABR”).Completed the sale of two ground-leased parcels totaling $47.1 million and deployed $37.9 million into new structured investments, net of repayments.Completed $106 million preferred equity mixed-use development at Coulter Place, a 131-unit multifamily project complementing 400,000-square-foot premier lifestyle center at Suburban Square in Ardmore, Pennsylvania.
“Our solid first quarter results, highlighted by strong leasing activity, rent commencements, and tenant credit profiles, continue to validate our strategy and underscore the power of the Kimco platform, the quality of our portfolio, the resilient demand for our product and the ability to generate durable cash flow,” said Kimco CEO Conor Flynn. “With a significant signed-not-opened pipeline set to come online over the coming quarters, we have a clear line of sight to meaningful organic growth. Combining our strong balance sheet with a disciplined approach to capital allocation, we remain confident that we will meet our external growth targets and deliver sustained long-term value for our shareholders.”
Financial Results
Net income for the first quarter of 2026 was $157.4 million, or $0.23 per diluted share, compared to $125.1 million, or $0.18 per diluted share, for the first quarter of 2025. This 28% per diluted share increase is primarily attributable to:
$21.5 million of growth in consolidated revenues from rental properties, net, driven by an increase of $8.3 million in minimum rents and a $6.5 million increase in reimbursement income compared to the prior year period.This growth was partially offset by a $5.7 million increase in total operating and maintenance expenses mainly attributable to higher snow removal and landscaping-related services, a $2.9 million increase in real estate tax expense, and $2.5 million in lower lease termination income compared to the prior year period.A $15.3 million increase in gains on sales of operating properties, net of non-cash impairments, compared to the first quarter of 2025, primarily due to the sale of a ground leased parcel at Mission Bell shopping center. Gains on sales of operating properties, net of impairments, is excluded from the company’s calculation of FFO.A $5.1 million increase in equity in income from other investments, primarily driven by $4.8 million of higher profit participation income, which is excluded from the company’s calculation of FFO. FFO was $311.3 million, or $0.46 per diluted share, for the first quarter of 2026, compared to $301.9 million, or $0.44 per diluted share, for the first quarter of 2025.
*Reconciliations of non-GAAP measures to the most directly comparable GAAP measure are provided in the tables accompanying this press release.
Operating Results
Signed 4.4 million square feet during the first quarter comprising 576 leases, generating blended pro-rata cash rent spreads on comparable spaces of 11.3%, with new leases up 23.8% and renewals and options growing 12.0% and 7.9%, respectively.Increased pro-rata leased occupancy by 50 basis points year-over-year to 96.3% at quarter end.Reported pro-rata anchor occupancy of 97.9%, up 50 basis points year-over-year, with pro-rata small shop occupancy of 92.5%, up 80 basis points year-over-year.Generated 1.7% growth in same property net operating income* (“NOI”) year-over-year, driven by a 2.2% increase in minimum rents. Credit loss, as a percentage of total pro-rata rental revenues, was 52 basis points during the first quarter. Transactional Activities
Sold two ground-leased parcels: Lowe's Home Improvement at Mission Bell Shopping Center in Tampa, Florida for $22.8 million and the Walmart and Sam's Club at Dulles Town Crossing in Sterling, Virginia for $24.3 million. The proceeds were utilized as part of a reverse 1031 exchange toward the December 2025 acquisition of the common member interests in The Shoppes at 82nd Street.Under Kimco’s Structured Investment Program, invested $76.4 million in new capital partially offset by $38.5 million in mezzanine loan repayments. Capital Market Activities
Completed a recast of the $2.0 billion unsecured revolving credit facility. The new facility, expandable to $2.75 billion under an accordion feature, is priced at Term SOFR plus 63.5 basis points and has an initial maturity of March 17, 2030 with two six-month extension options.Launched a $750.0 million commercial paper program, providing short-term financing flexibility with maturities spanning 1 to 397 days.Repurchased 23,103 shares of common stock during the first quarter of 2026 at a weighted average price of $19.99 per share, net of fees and commissions.Ended the quarter with approximately $2.2 billion of immediate liquidity, including full availability on the $2.0 billion unsecured revolving credit facility and approximately $170 million of cash, cash equivalents and restricted cash on the balance sheet. Dividend Declarations
The board of directors declared a cash dividend of $0.26 per common share (equivalent to $1.04 per annum), representing a 4.0% increase over the quarterly dividend in the corresponding period of the prior year. The quarterly cash dividend on common shares will be payable on June 18, 2026, to shareholders of record on June 5, 2026.The board of directors also declared quarterly dividends with respect to each of the company’s Class L, Class M, and Class N series of preferred shares. These dividends on the preferred shares will be paid on July 15, 2026 to shareholders of record on July 1, 2026. 2026 Full Year Outlook
The company has updated its 2026 outlook for Net income and FFO per diluted share as follows:
Current PreviousNet income:$0.83 to $0.87$0.80 to $0.84FFO:$1.81 to $1.84$1.80 to $1.84
The company’s full year outlook is based on the following assumptions (pro-rata share unless otherwise stated; dollars in millions):
1Q 2026 ActualCurrentPreviousSame property NOI growth+1.7%
+2.8% to +3.5%+2.5% to +3.5%Credit loss as a % of total pro-rata rental revenues(52bps)(65bps) to (90bps)(75bps) to (100bps)Lease termination income$4
Unchanged$7 to $15Non-cash GAAP revenues(1)$21
Unchanged$45 to $50Consolidated G&A expense, net$37
Unchanged$128 to $132Consolidated interest expense and preferred stock dividends$91
$369 to $376$370 to $377Consolidated mortgage and other financing income, net$12
Unchanged$45 to $55Redevelopment capex(2)$32
Unchanged$100 to $150Leasing and maintenance capex(3)$39
Unchanged$275 to $300Property acquisitions, net of dispositionsAcquisitions, weighted average cap rate
Dispositions, weighted average cap rate
($47)N/A
($47); 5.6%
UnchangedNet neutral; transaction volume of $300 to $5006.0% to 7.0%
5.0% to 6.0%
Structured investments, net of repaymentsWeighted average yield
$3810.0%
Unchanged$75 to $1258.0% to 10.0%
(1) Includes deferred rents, above and below market rents, and straight-line reimbursement income, and excludes debt mark to market amortization.
(2) Includes costs associated with a mixed-use development project, The Chester at Westlake Shopping Center.
(3) Includes tenant improvements and allowances, capitalized external leasing commissions and capitalized building improvements.
Conference Call Information
When: 8:30 AM ET, April 30, 2026
Live Webcast: 1Q26 Kimco Realty Earnings Conference Call or on Kimco Realty’s website investors.kimcorealty.com
Audio from the conference will be available on Kimco Realty’s investor relations website until August 1, 2026.
About Kimco Realty®
Kimco Realty® (NYSE: KIM) is a real estate investment trust (REIT) and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States. The company’s portfolio is strategically concentrated in the first-ring suburbs of the top major metropolitan markets, including high-barrier-to-entry coastal markets and Sun Belt cities. Its tenant mix is focused on essential, necessity-based goods and services that drive multiple shopping trips per week. Publicly traded on the NYSE since 1991 and included in the S&P 500 Index, the company has specialized in shopping center ownership, management, acquisitions, and value-enhancing redevelopment activities for more than 65 years. With a proven commitment to corporate responsibility, Kimco Realty is a recognized industry leader in this area. As of March 31, 2026, the company owned interests in 565 U.S. shopping centers and mixed-use assets comprising 100 million square feet of gross leasable space.
The company announces material information to its investors using the company’s investor relations website (investors.kimcorealty.com), SEC filings, press releases, public conference calls, and webcasts. The company also uses social media to communicate with its investors and the public, and the information the company posts on social media may be deemed material information. Therefore, the company encourages investors, the media, and others interested in the company to review the information that it posts on the social media channels, including Facebook (www.facebook.com/kimcorealty), and LinkedIn (www.linkedin.com/company/kimco-realty-corporation). The list of social media channels that the company uses may be updated on its investor relations website from time to time.
Safe Harbor Statement
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with the safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe the Company’s future plans, strategies and expectations, are generally identifiable by use of the words “believe,” “expect,” “intend,” “commit,” “anticipate,” “estimate,” “project,” “will,” “target,” “plan,” “forecast” or similar expressions. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which, in some cases, are beyond the Company’s control and could materially affect actual results, performance or achievements. Factors which may cause actual results to differ materially from current expectations include, but are not limited to, (i) financial disruption, changes in trade policies and tariffs, geopolitical challenges or economic downturn, including general adverse economic and local real estate conditions, (ii) the impact of competition, including the availability of acquisition or development opportunities and the costs associated with purchasing and maintaining assets, (iii) the inability of major tenants to continue paying their rent obligations due to bankruptcy, insolvency or a general downturn in their business, (iv) the reduction in the Company’s income in the event of multiple lease terminations by tenants or a failure of multiple tenants to occupy their premises in a shopping center, (v) the potential impact of e-commerce and other changes in consumer buying practices, and changing trends in the retail industry and perceptions by retailers or shoppers, including safety and convenience, (vi) the availability of suitable acquisition, disposition, development, redevelopment and merger opportunities, and the costs associated with purchasing and maintaining assets and risks related to acquisitions not performing in accordance with our expectations, (vii) the Company’s ability to raise capital by selling its assets, (viii) disruptions and increases in operating costs due to inflation and supply chain disruptions, (ix) risks associated with the development of mixed-use commercial properties, including risks associated with the development, and ownership of non-retail real estate, (x) changes in governmental laws and regulations, including, but not limited to, changes in data privacy, environmental (including climate change), safety and health laws, and management’s ability to estimate the impact of such changes, (xi) valuation and risks related to the Company’s joint venture and preferred equity investments and other investments, (xii) collectability of mortgage and other financing receivables, (xiii) impairment charges, (xiv) criminal cybersecurity attack disruptions, data loss or other security incidents and breaches, (xv) risks related to artificial intelligence, (xvi) impact of natural disasters and weather and climate-related events, (xvii) pandemics or other health crises, (xviii) our ability to attract, retain and motivate key personnel, (xix) financing risks, such as the inability to obtain equity, debt or other sources of financing or refinancing on favorable terms to the Company, (xx) the level and volatility of interest rates and management’s ability to estimate the impact thereof, (xxi) changes in the dividend policy for the Company’s common and preferred stock and the Company’s ability to pay dividends at current levels, (xxii) unanticipated changes in the Company’s intention or ability to prepay certain debt prior to maturity and/or maintain certain debt until maturity, (xxiii) the Company’s ability to continue to maintain its status as a REIT for U.S. federal income tax purposes and potential risks and uncertainties in connection with its UPREIT structure, and (xxiv) other risks and uncertainties identified under Item 1A, “Risk Factors” and elsewhere in our most recent Annual Report on Form 10-K and in the Company’s other filings with the Securities and Exchange Commission (“SEC”). Accordingly, there is no assurance that the Company’s expectations will be realized. The Company disclaims any intention or obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise. You are advised to refer to any further disclosures the Company makes or related subjects in the Company’s quarterly reports on Form 10-Q and current reports on Form 8-K that the Company files with the SEC. Certain forward-looking and other statements in this press release, or other locations, such as our corporate website, contain various corporate responsibility standards and frameworks (including standards for the measurement of underlying data) and the interests of various stakeholders. As such, such information may not be, and should not be interpreted as necessarily being, “material” under the federal securities laws for SEC reporting purposes, even if we use the word “material” or “materiality” in this document. Corporate Responsibility information is also often reliant on third-party information or methodologies that are subject to evolving expectations and best practices, and our approach to and discussion of these matters may continue to evolve as well. For example, our disclosures may change due to revisions in framework requirements, availability of information, changes in our business or applicable governmental policies, or other factors, some of which may be beyond our control.
CONTACT:
David F. Bujnicki
Senior Vice President, Investor Relations and Strategy
Kimco Realty Corporation
(833) 800-4343 [email protected]
Condensed Consolidated Balance Sheets(in thousands, except share data)(unaudited) March 31, 2026 December 31, 2025Assets: Real estate, net of accumulated depreciation and amortization of $4,921,263 and $4,849,564, respectively$16,656,682 $16,769,292 Investments in and advances to real estate joint ventures 1,446,006 1,454,051 Other investments 99,682 99,936 Cash, cash equivalents and restricted cash 169,603 212,794 Mortgage and other financing receivables, net 420,448 383,935 Accounts and other receivables, net 370,076 368,964 Operating lease right-of-use assets, net 127,632 127,596 Other assets 295,317 271,682 Total assets$19,585,446 $19,688,250 Liabilities: Notes payable, net$7,719,536 $7,718,730 Mortgages payable, net 465,433 467,203 Accounts payable and accrued expenses 254,314 291,537 Intangible liabilities, net 318,549 334,527 Operating lease liabilities 120,339 120,078 Other liabilities 161,673 188,297 Total liabilities 9,039,844 9,120,372 Redeemable noncontrolling interests - 24,506 Stockholders' Equity: Preferred stock, $1.00 par value, authorized 7,054,000 shares; Issued and outstanding (in series) 20,748 shares; Aggregate liquidation preference $553,196 21 21 Common stock, $.01 par value, authorized 1,500,000,000 shares; Issued and outstanding 674,402,680 and 674,093,047 shares, respectively 6,744 6,741 Paid-in capital 10,931,040 10,922,596 Cumulative distributions in excess of net income (546,714) (528,730)Accumulated other comprehensive loss (2,185) (8,792)Total stockholders' equity 10,388,906 10,391,836 Noncontrolling interests 156,696 151,536 Total equity 10,545,602 10,543,372 Total liabilities and equity$19,585,446 $19,688,250 Condensed Consolidated Statements of Income(in thousands, except per share data)(unaudited) Three Months Ended March 31, 2026 2025 Revenues Revenues from rental properties, net$552,812 $531,286 Management and other fee income 5,204 5,338 Total revenues 558,016 536,624 Operating expenses Rent (4,147) (4,184)Real estate taxes (72,842) (69,911)Operating and maintenance (95,229) (89,553)General and administrative (37,187) (34,392)Impairment charges (50) (534)Depreciation and amortization (156,496) (158,453)Total operating expenses (365,951) (357,027) Gain on sale of properties 15,707 887 Operating income 207,772 180,484 Other income/(expense) Other (expense)/income, net (1,619) 207 Mortgage and other financing income, net 12,475 11,269 Interest expense (83,125) (80,377)Income before income taxes, net, equity in income of joint ventures, net, and equity in income from other investments, net 135,503 111,583 Benefit/(provision) for income taxes, net 239 (464)Equity in income of joint ventures, net 24,811 22,683 Equity in income of other investments, net 5,794 701 Net income 166,347 134,503 Net income attributable to noncontrolling interests (1,449) (1,686)Net income attributable to the company 164,898 132,817 Preferred dividends, net (7,536) (7,683)Net income available to the company's common shareholders$157,362 $125,134 Per common share: Net income available to the company's common shareholders: (1) Basic$0.23 $0.18 Diluted (2)$0.23 $0.18 Weighted average shares: Basic 671,826 677,074 Diluted (2) 672,771 677,299 (1) Adjusted for earnings attributable to participating securities of ($619) and ($604) for the three months ended March 31, 2026 and 2025, respectively.(2) Reflects the potential impact if certain units/preferred stock were converted to common stock at the beginning of the period. The impact of the conversion of certain units/preferred shares would have an anti-dilutive effect on net income and therefore have not been included. Adjusted for distributions on convertible units of $9 and $0 for the three months ended March 31, 2026 and 2025, respectively. Reconciliation of Net Income Available to the Company's Common Shareholders to the FFO Available to the Company's Common Shareholders (1)(in thousands, except per share data)(unaudited) Three Months Ended March 31, 2026 2025 Net income available to the company's common shareholders $157,362 $125,134 Gain on sale of properties (15,707) (887)Gain on sale of joint venture properties - (784)Depreciation and amortization - real estate related 155,488 157,232 Depreciation and amortization - real estate joint ventures 19,862 21,355 Impairment charges (including real estate joint ventures) 50 534 Profit participation from other investments, net (5,064) (216)Loss on marketable securities/derivative, net 29 325 Provision for income taxes, net (2) 7 80 Noncontrolling interests (2) (777) (877)FFO available to the company's common shareholders $311,250 $301,896 Weighted average shares outstanding for FFO calculations: Basic 671,826 677,074 Units 3,678 3,275 Convertible preferred shares 3,185 3,282 Dilutive effect of equity awards 847 178 Diluted (3) 679,536 683,809 FFO per common share - basic $0.46 $0.45 FFO per common share - diluted (3) $0.46 $0.44 (1) The company considers FFO to be an important supplemental measure of its operating performance and believes it is frequently used by securities analysts, investors and other interested parties in the evaluation of REITs, many of which present FFO when reporting results. Comparison of the company's presentation of FFO to similarly titled measures for other REITs may not necessarily be meaningful due to possible differences in the application of the Nareit definition used by such REITs.(2) Related to gains, impairments, depreciation on properties and gains/(losses) on marketable securities and derivatives, where applicable.(3) Reflects the potential impact if convertible preferred shares and certain units were converted to common stock at the beginning of the period. FFO available to the company’s common shareholders would be increased by $2,259 and $2,082 for the three months ended March 31, 2026 and 2025, respectively. The effect of other certain convertible units would have an anti-dilutive effect upon the calculation of FFO available to the company’s common shareholders per share. Accordingly, the impact of such conversion has not been included in the determination of diluted FFO per share calculations. Reconciliation of Net Income Available to the Company's Common Shareholdersto Same Property NOI (1)(2)(in thousands)(unaudited) Three Months Ended March 31, 2026 2025 Net income available to the company's common shareholders$157,362 $125,134 Adjustments: Management and other fee income (5,204) (5,338)General and administrative 37,187 34,392 Impairment charges 50 534 Depreciation and amortization 156,496 158,453 Gain on sale of properties (15,707) (887)Other expense/(income), net 1,619 (207)Mortgage and other financing income, net (12,475) (11,269)Interest expense 83,125 80,377 (Benefit)/provision for income taxes, net (239) 464 Equity in income of other investments, net (5,794) (701)Net income attributable to noncontrolling interests 1,449 1,686 Preferred dividends, net 7,536 7,683 Non same property net operating income (29,392) (22,932)Non-operational expense from joint ventures, net 26,243 28,314 Same property NOI$402,256 $395,703 (1) Same property Net Operating Income (“NOI”) is a supplemental non-GAAP financial measure of real estate companies' operating performance and should not be considered an alternative to net income in accordance with GAAP or as a measure of liquidity. Same property NOI is considered by management to be an important operating performance measure frequently used by analysts and investors because it includes only the NOI of operating properties that have been owned and stabilized for the entire current and prior year reporting periods. Same property NOI assists in eliminating disparities due to the development, redevelopment, acquisition and disposition of properties during the periods presented and thus provides a more consistent performance measure for the comparison of the Company's properties. Same property NOI is calculated using rental property revenues (excluding straight-line rent adjustments, lease termination income, net, and amortization of above/below market rents), less charges for credit losses, operating and maintenance expenses, real estate taxes, and rent expenses, plus the Company's proportionate share of same property NOI from unconsolidated real estate joint ventures, calculated on the same basis. The Company's method of calculating same property NOI, which may differ from methods used by other REITs and may not be comparable to them, discloses with and without the impact from redevelopment projects.(2) Amounts represent the company's pro-rata share. Reconciliation of the Projected Range of Net Income Available to the Company's Common Shareholdersto Funds From Operations Available to the Company's Common Shareholders(unaudited, all amounts shown are per diluted share) Projected Range Full Year 2026 Low HighNet income available to the company's common shareholders$0.83 $0.87 Gain on sale of properties (0.03) (0.06) Gain on sale of joint venture properties - (0.02) Depreciation & amortization - real estate related 0.91 0.94 Depreciation & amortization - real estate joint ventures 0.11 0.12 Profit participation from other investments, net (0.01) (0.01) FFO available to the company's common shareholders$1.81 $1.84 Projections involve numerous assumptions such as rental income (including assumptions on percentage rent), interest rates, tenant defaults, occupancy rates, international tariffs, selling prices of properties held for disposition, expenses (including salaries and employee costs), insurance costs and numerous other factors. Not all of these factors are determinable at this time and actual results may vary from the projected results, and may be above or below the range indicated. The above range represents management’s estimate of results based upon these assumptions as of the date of this press release.
GAAP diluted EPS was $0.23. The estimated EPS was $0.20.Total revenues were $558.0 million. The estimated revenue was $542.93 million.FFO per diluted share was $0.46, up 4.5% year over year.Leased 4.4 million square feet; blended cash rent spreads on comparable leases were +11.3%.Record 410 bps leased-to-economic occupancy spread implies $77 million of future ABR.Pro-rata leased occupancy reached 96.3%; same-property NOI grew 1.7%.Liquidity ended at approximately $2.2 billion; revolver recast to 2030 and CP program launched.Quarterly dividend declared at $0.26 per share, up 4% year over year.2026 net income guidance raised to $0.83–$0.87; FFO guidance at $1.81–$1.84.On April 30, 2026, Kimco Realty Corp KIM released its 8-K filing detailing first-quarter 2026 results. One of the oldest real estate investment trusts in the United States, Kimco Realty Corp (KIM) owns interests in 565 shopping centers throughout major markets in the U.S., representing roughly 100 million square feet. The company reported GAAP diluted EPS of $0.23 and total revenues of $558.0 million for the quarter ended March 31, 2026.
Quarterly performance and why it matters GAAP diluted EPS was $0.23, which is above the estimated EPS of $0.20. GAAP diluted EPS was $0.23, which compares to $0.18 in the prior-year period.
Total revenues were $558.0 million, which is above the estimated revenue of $542.93 million. Total revenues were $558.0 million, which compares to $536.6 million in the prior-year period.
FFO, a key REIT cash flow metric, was $311.3 million, or $0.46 per diluted share, up from $0.44 per diluted share last year. For retail REITs, FFO growth supports sustainable dividends and reinvestment capacity, and it often better reflects core property cash generation than GAAP EPS.
“Our solid first quarter results, highlighted by strong leasing activity, rent commencements, and tenant credit profiles, continue to validate our strategy and underscore the power of the Kimco platform, the quality of our portfolio, the resilient demand for our product and the ability to generate durable cash flow,” “With a significant signed-not-opened pipeline set to come online over the coming quarters, we have a clear line of sight to meaningful organic growth. Combining our strong balance sheet with a disciplined approach to capital allocation, we remain confident that we will meet our external growth targets and deliver sustained long-term value for our shareholders.”Leasing momentum and operating fundamentals Kimco Realty Corp KIM signed 4.4 million square feet across 576 leases in the quarter. Blended pro-rata cash rent spreads on comparable spaces were +11.3%. New lease spreads were +23.8%. Renewal spreads were +12.0%, and options were +7.9%.
Pro-rata leased occupancy increased 50 bps year over year to 96.3%. Pro-rata anchor occupancy reached 97.9%, up 50 bps year over year, while small-shop occupancy rose 80 bps to 92.5%. Same-property NOI grew 1.7% year over year, supported by a 2.2% increase in minimum rents. Credit loss was 52 bps of total pro-rata rental revenues.
The company reported a record 410 bps leased-to-economic occupancy spread, representing $77 million in future ABR, a 28% year-over-year increase. For open-air retail REITs, this spread indicates signed-not-opened leases that should convert into revenue, providing visibility into near-term organic growth.
Income statement, balance sheet, and capital activity Revenue expansion was driven by higher minimum rents and reimbursement income. Operating and maintenance expenses increased by $5.7 million, largely from higher snow removal and landscaping, and real estate tax expense rose by $2.9 million. Lease termination income declined by $2.5 million year over year. Interest expense was $83.1 million versus $80.4 million last year.
On the balance sheet, total assets were $19.59 billion and total liabilities were $9.04 billion at quarter end. Notes payable were $7.72 billion and mortgages payable were $0.47 billion. Total equity stood at $10.55 billion. Immediate liquidity was approximately $2.2 billion, including full availability on the $2.0 billion unsecured revolving credit facility and about $170 million of cash, cash equivalents, and restricted cash.
Capital markets actions included recasting the $2.0 billion unsecured revolver, now priced at Term SOFR + 63.5 bps with maturity in 2030 (plus two six-month extensions). The company also launched a $750 million commercial paper program to enhance short-term financing flexibility. Kimco Realty Corp KIM repurchased 23,103 shares at a weighted average price of $19.99. Under its Structured Investment Program, it invested $76.4 million of new capital, partially offset by $38.5 million in mezzanine loan repayments, and realized gains on select ground-lease dispositions.
Metric Q1 2026 Q1 2025 Total revenues $558.0M $536.6M GAAP diluted EPS $0.23 $0.18 FFO (diluted) $311.3M $301.9M FFO per diluted share $0.46 $0.44 Same-property NOI growth +1.7% — Pro-rata leased occupancy 96.3% 95.8% Blended cash rent spreads (comparable) +11.3% — Credit loss (% of rental revenues) 52 bps — Notes payable $7.72B $7.72B Mortgages payable $0.47B $0.47B Immediate liquidity ~$2.2B —Dividends, transactions, and outlook update The board declared a quarterly common dividend of $0.26 per share (payable June 18, 2026, to shareholders of record on June 5, 2026), a 4.0% year-over-year increase. Preferred dividends for Class L, M, and N were also declared.
Transactional activity included the sale of two ground-leased parcels for $47.1 million, with proceeds applied as part of a reverse 1031 exchange toward a prior acquisition. The company completed a $106 million preferred equity mixed-use development at Coulter Place, a 131-unit multifamily project adjacent to Suburban Square in Ardmore, Pennsylvania.
Kimco Realty Corp KIM updated its 2026 guidance. Net income per diluted share is now $0.83 to $0.87, raised from $0.80 to $0.84. FFO per diluted share is $1.81 to $1.84, compared to a prior range of $1.80 to $1.84. The same-property NOI growth outlook is now +2.8% to +3.5%, previously +2.5% to +3.5%. Credit loss assumptions improved to 65 to 90 bps from 75 to 100 bps.
Performance assessment for investors The quarter showcased solid property-level demand, evidenced by double-digit cash rent spreads and rising occupancy. For a retail REIT, this leasing velocity translated into FFO per share growth and a record leased-to-economic occupancy gap that points to upcoming rent commencements. The dividend increase underscores distributable cash flow growth.
Challenges included higher operating and maintenance expenses, increased real estate taxes, and modestly higher interest expense year over year. While credit loss remained low at 52 bps, sustained expense pressure could temper same-property NOI growth. Balance sheet flexibility improved with the revolver recast and new commercial paper program, supporting redevelopment, structured investments, and opportunistic capital deployment.
GuruFocus Valuation Check Based on GuruFocus’ proprietary metrics, Kimco Realty Corp KIM trades at a current price of $23.64 versus a GF Value estimate of $21.94. The stock appears 7.7% overvalued on this measure. For value-oriented investors, this suggests a modest premium relative to intrinsic value calculations.
The GF Score is 79/100, which is considered Above Average. A Profitability Rank of 7/10 indicates healthy operating quality for a REIT, while a Growth Rank of 5/10 points to moderate expansion prospects. Financial Strength is 4/10, reflecting a balance sheet typical of the sector but suggesting that leverage and interest costs merit ongoing attention. Predictability is 1 star, implying that historical consistency in financial performance has been limited, which can raise the bar for underwriting assumptions. The Moat Score of 5/10 suggests a moderate competitive position, supported by grocery-anchored centers in dense, first-ring suburbs.
Insider Activity shows insiders sold approximately $0.2 million in the last three months, with no reported buying. This is a small amount, but notable insider selling without offsetting purchases typically argues for some caution on near-term upside. For a deeper dive, visit the Kimco Realty Corp stock page on GuruFocus.
Explore the complete 8-K earnings release (here) from Kimco Realty Corp for further details.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Kimco Realty (KIM - Free Report) came out with quarterly funds from operations (FFO) of $0.46 per share, beating the Zacks Consensus Estimate of $0.45 per share. This compares to FFO of $0.44 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an FFO surprise of +2.47%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.44 per share when it actually produced FFO of $0.44, delivering no surprise.
Over the last four quarters, the company has surpassed consensus FFO estimates three times.
Kimco Realty, which belongs to the Zacks REIT and Equity Trust - Retail industry, posted revenues of $558.02 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 2.75%. This compares to year-ago revenues of $536.62 million. 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 FFO expectations will mostly depend on management's commentary on the earnings call.
Kimco Realty shares have added about 16.6% since the beginning of the year versus the S&P 500's gain of 4.2%.
What's Next for Kimco Realty?While Kimco Realty 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 FFO outlook. Not only does this include current consensus FFO 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 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 estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Kimco Realty 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 FFO estimate is $0.46 on $541.8 million in revenues for the coming quarter and $1.82 on $2.19 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, REIT and Equity Trust - Retail is currently in the top 23% 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, Macerich (MAC - Free Report) , has yet to report results for the quarter ended March 2026. The results are expected to be released on May 6.
This shopping center real estate investment trust is expected to post quarterly earnings of $0.31 per share in its upcoming report, which represents a year-over-year change of -6.1%. The consensus EPS estimate for the quarter has been revised 0.3% higher over the last 30 days to the current level.
Macerich's revenues are expected to be $238.67 million, down 4.2% from the year-ago quarter.
For the quarter ended March 2026, Kimco Realty (KIM - Free Report) reported revenue of $558.02 million, up 4% over the same period last year. EPS came in at $0.46, compared to $0.18 in the year-ago quarter.
The reported revenue represents a surprise of +2.75% over the Zacks Consensus Estimate of $543.08 million. With the consensus EPS estimate being $0.45, the EPS surprise was +2.47%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Kimco Realty performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Pro-rata portfolio occupancy rate: 96.3% compared to the 94.7% average estimate based on three analysts.Revenues- Management and other fee income: $5.2 million versus the five-analyst average estimate of $4.86 million. The reported number represents a year-over-year change of -2.5%.Revenues- Revenues from rental properties, net: $552.81 million compared to the $537.46 million average estimate based on four analysts. The reported number represents a change of +4.1% year over year.Net Earnings Per Share- Diluted: $0.23 versus $0.19 estimated by three analysts on average.View all Key Company Metrics for Kimco Realty here>>>
Shares of Kimco Realty have returned +5.3% over the past month versus the Zacks S&P 500 composite's +12.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Key Takeaways KIM reported Q1 2026 FFO of 46 cents, beating estimates as revenues rose 4% year over year.Kimco signed 4.4M square feet across 576 leases, with blended cash rent spreads of 11.3%.KIM raised the low end of 2026 FFO guidance to $1.81-$1.84 and ended Q1 with $2.2B liquidity. Kimco Realty Corporation (KIM - Free Report) reported first-quarter 2026 funds from operations (FFO) of 46 cents per share, topping the Zacks Consensus Estimate of 45 cents by 2.22%. The metric increased 4.5% from the year-ago quarter. Total consolidated revenues of $558 million rose 4% year over year and surpassed the consensus mark of $543.1 million by 2.75%.
Results were supported by steady rent growth and continued demand for Kimco’s open-air, grocery-anchored centers, with pro-rata leased occupancy ending the quarter at 96.3%, up 50 basis points year over year.
KIM’s Revenue Mix Shows Steady MomentumNet revenues from rental properties increased to $552.8 million from $531.3 million in the year-ago quarter, reflecting improved property-level performance. Management attributed the year-over-year lift in consolidated revenues from rental properties to higher minimum rents and stronger reimbursement income.
Expense pressures were evident but manageable. Operating and maintenance costs rose to $95.2 million from $89.6 million, and real estate taxes increased to $72.8 million from $69.9 million. General and administrative expense also ticked up to $37.2 million from $34.4 million, reflecting higher costs relative to the prior-year period.
KIM's Leasing Gains Drive Rent SpreadsKimco signed 4.4 million square feet during the quarter across 576 leases, reflecting broad-based tenant demand. On comparable spaces, blended pro-rata cash rent spreads were 11.3%, with new leases up 23.8% and renewals and options rising 12% and 7.9%, respectively.
The operating backdrop also remained constructive. Pro-rata anchor occupancy was 97.9% at quarter end, up 50 basis points year over year, while pro-rata small shop occupancy improved 80 basis points year over year to 92.5%. Kimco also posted a record leased-to-economic occupancy spread of 410 basis points, representing a $77 million increase in future annual base rent.
KIM’s Portfolio ActivityThe company sold two ground-leased parcels, namely, Lowe's Home Improvement at Mission Bell Shopping Center in Tampa, FL, for $22.8 million and the Walmart and Sam's Club at Dulles Town Crossing in Sterling, VA, for $24.3 million. The proceeds were used in a reverse 1031 exchange to help fund the December 2025 acquisition of the common member interests in The Shoppes at 82nd Street.
Under Kimco’s Structured Investment Program, it invested $76.4 million in new capital, partially offset by $38.5 million in mezzanine loan repayments.
KIM Strengthens Liquidity With New Funding ToolsKimco exited the quarter with approximately $2.2 billion of immediate liquidity, including full availability on its $2.0 billion unsecured revolving credit facility and roughly $170 million of cash, cash equivalents and restricted cash on the balance sheet. The company also maintained investment-grade credit ratings (A- at S&P and Fitch, A3 at Moody’s).
During the quarter, Kimco completed a recast of the $2 billion unsecured revolving credit facility, which carries an initial maturity of March 17, 2030, with expansion capacity up to $2.75 billion through an accordion feature. Management also launched a $750 million commercial paper program to add short-term financing flexibility, complementing the REIT’s broader funding toolkit.
KIM Raises 2026 FFO ViewKimco updated its 2026 outlook, raising the low end of expected FFO per share to a range of $1.81-$1.84 from the prior $1.80-$1.84. The Zacks Consensus Estimate of $1.82 lies within the guidance.
Kimco’s full-year outlook is based on the same property NOI growth of 2.8%-3.5%, from the previous 2.5%-3.5%. Property acquisitions, net of dispositions, guidance remains unchanged within $300 million to $500 million.
KIM’s Zacks RankThe company currently carries a Zacks Rank #3 (Hold).
Upcoming Earnings ReleasesWe now look forward to the earnings releases of other retail REITs, such as Federal Realty Investment Trust (FRT - Free Report) and Simon Property Group (SPG - Free Report) , which are slated to report on May 1 and 11, respectively.
The Zacks Consensus Estimate for Federal Realty Investment Trust’s first-quarter 2026 FFO per share is pegged at $1.82, implying a 7.06% year-over-year increase. FRT currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Simon Property Group’s first-quarter 2026 FFO per share is pinned at $2.98, indicating a 1.02% rise year over year. SPG currently has a Zacks Rank #2.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor's dream. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.
While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Many academic studies show that dividends account for significant portions of long-term returns, with dividend contributions exceeding one-third of total returns in many cases.
Kimco Realty (KIM - Free Report) is headquartered in Jericho, and is in the Finance sector. The stock has seen a price change of 16.18% since the start of the year. Currently paying a dividend of $0.26 per share, the company has a dividend yield of 4.42%. In comparison, the REIT and Equity Trust - Retail industry's yield is 3.9%, while the S&P 500's yield is 1.42%.
Looking at dividend growth, the company's current annualized dividend of $1.04 is up 3% from last year. Over the last 5 years, Kimco Realty has increased its dividend 5 times on a year-over-year basis for an average annual increase of 14.37%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. Kimco Realty's current payout ratio is 58%, meaning it paid out 58% of its trailing 12-month EPS as dividend.
Earnings growth looks solid for KIM for this fiscal year. The Zacks Consensus Estimate for 2026 is $1.82 per share, with earnings expected to increase 3.41% from the year ago period.
Investors like dividends for a variety of different reasons, from tax advantages and decreasing overall portfolio risk to considerably improving stock investing profits. However, not all companies offer a quarterly payout.
High-growth firms or tech start-ups, for example, rarely provide their shareholders a dividend, while larger, more established companies that have more secure profits are often seen as the best dividend options. During periods of rising interest rates, income investors must be mindful that high-yielding stocks tend to struggle. With that in mind, KIM is a compelling investment opportunity. Not only is it a strong dividend play, but the stock currently sits at a Zacks Rank of #3 (Hold).
The Suit Alleges Concealed Demolition Plans and Wrongful Evictions to Construct a Target
, /PRNewswire/ -- Drip Coffee, an emerging coffee brand, filed suit in the Circuit Court of the Seventeenth Judicial Circuit in Broward County, Florida, accusing Kimco Realty Corporation (NYSE: KIM), a New York-based developer of open-air shopping centers, of systemic fraudulent business practices in which the company enters into multi-year leases with tenants while simultaneously planning to evict those same tenants at a later date to make room for larger retailers.
Kimco CEO Conor Flynn and Drip Coffee President Taylor Schear The lawsuit claims that Drip Coffee was used as a "pawn" to provide short-term rent to Kimco and its subsidiaries while they failed to disclose that they intended to begin a massive redevelopment and demolition project affecting more than 100,000 square feet of the shopping center, including the demolition of an LA Fitness and a movie theater, to accommodate a highly lucrative deal with Target. Drip Coffee alleges that Kimco committed fraud by soliciting leases they knew they could not fulfill.
"Kimco business practices have the company enter into agreements the company has no intention of keeping." said Taylor Schear, Drip Coffee, President. "Kimco has abandoned the safety of their tenants and patrons in favor of profits. Their practices are driven by greed despite the businesses and jobs destroyed, and the loss of the revenue and investments for the businesses that enter into contracts with Kimco in good faith."
Drip's lawsuit was filed after attempts to resolve the matter with Kimco failed.
About Drip Coffee
Drip Coffee is an emerging coffee brand created to invigorate the industry with fun, flavorful drinks, including the Honey Bear Latte, Sticky Situation and Burnt Ritual.
Kimco Realty (KIM) offers a robust, investment-grade REIT platform with 565 properties and strong grocery-anchored tenant mix. KIM.PR.L and KIM.PR.M preferred shares yield 6.6%, trade ~20% below par, and offer superior risk/return versus common stock. Preferreds benefit from cumulative dividends, 40x FFO coverage, and potential capital gains if interest rates normalize.
May 21, 2026 06:50 ET | Source: Kimco Realty Corporation
JERICHO, New York, May 21, 2026 (GLOBE NEWSWIRE) -- Kimco Realty® (NYSE: KIM) announced today that its management will present at the Bernstein Strategic Decisions Conference 2026 on Wednesday, May 27, 2026.
Event: Kimco Realty® Management Presentation
When: Wednesday, May 27, 2026, from 2:30 PM – 3:20 PM, ET
Live Webcast: Kimco Realty Management to Present at Bernstein Conference
Audio from the webcast will be available on Kimco Realty’s investor relations website until August 25, 2026.
About Kimco Realty®
Kimco Realty® (NYSE: KIM) is a real estate investment trust (REIT) and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States. The company’s portfolio is strategically concentrated in the first-ring suburbs of the top major metropolitan markets, including high-barrier-to-entry coastal markets and Sun Belt cities. Its tenant mix is focused on essential, necessity-based goods and services that drive multiple shopping trips per week. Publicly traded on the NYSE since 1991 and included in the S&P 500 Index, the company has specialized in shopping center ownership, management, acquisitions, and value-enhancing redevelopment activities for more than 65 years. With a proven commitment to corporate responsibility, Kimco Realty is a recognized industry leader in this area. As of March 31, 2026, the company owned interests in 565 U.S. shopping centers and mixed-use assets comprising 100 million square feet of gross leasable space. For further information, please visit www.kimcorealty.com.
The company announces material information to its investors using the company’s investor relations website (investors.kimcorealty.com), SEC filings, press releases, public conference calls, and webcasts. The company also uses social media to communicate with its investors and the public, and the information the company posts on social media may be deemed material information. Therefore, the company encourages investors, the media, and others interested in the company to review the information that it posts on the social media channels, including Facebook (www.facebook.com/kimcorealty) and LinkedIn (www.linkedin.com/company/kimco-realty-corporation). The list of social media channels that the company uses may be updated on its investor relations website from time to time.
CONTACT:
David F. Bujnicki
Senior Vice President, Investor Relations and Strategy
Kimco Realty Corporation
(833) 800-4343 [email protected]
May 28, 2026 16:10 ET | Source: Kimco Realty Corporation
JERICHO, N.Y., May 28, 2026 (GLOBE NEWSWIRE) -- Kimco Realty® (NYSE: KIM) announced today that members of its management team will present at the Nareit REITweek Investor Conference on Wednesday, June 3, 2026. The webcast information is as follows:
When: Wednesday, June 3, 2026 from 2:00 PM – 2:30 PM, ET
Live Webcast: Kimco Realty Presentation Link, or enter https://vimeo.com/event/5873106/ into your browser.
Audio from the conference will be available on Kimco Realty’s investor relations website until August 2, 2026.
About Kimco Realty®
Kimco Realty® (NYSE: KIM) is a real estate investment trust (REIT) and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States. The company’s portfolio is strategically concentrated in the first-ring suburbs of the top major metropolitan markets, including high-barrier-to-entry coastal markets and Sun Belt cities. Its tenant mix is focused on essential, necessity-based goods and services that drive multiple shopping trips per week. Publicly traded on the NYSE since 1991 and included in the S&P 500 Index, the company has specialized in shopping center ownership, management, acquisitions, and value-enhancing redevelopment activities for more than 65 years. With a proven commitment to corporate responsibility, Kimco Realty is a recognized industry leader in this area. As of March 31, 2026, the company owned interests in 565 U.S. shopping centers and mixed-use assets comprising 100 million square feet of gross leasable space. For further information, please visit www.kimcorealty.com.
The company announces material information to its investors using the company’s investor relations website (investors.kimcorealty.com), SEC filings, press releases, public conference calls, and webcasts. The company also uses social media to communicate with its investors and the public, and the information the company posts on social media may be deemed material information. Therefore, the company encourages investors, the media, and others interested in the company to review the information that it posts on the social media channels, including Facebook (www.facebook.com/kimcorealty), and LinkedIn (www.linkedin.com/company/kimco-realty-corporation). The list of social media channels that the company uses may be updated on its investor relations website from time to time.
CONTACT:
David F. Bujnicki
Senior Vice President, Investor Relations and Strategy
Kimco Realty Corporation
(833) 800-4343 [email protected]
Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor's dream. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus.
Cash flow can come from bond interest, interest from other types of investments, and, of course, dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by its dividend yield, a metric that measures the dividend as a percent of the current stock price. Many academic studies show that dividends account for significant portions of long-term returns, with dividend contributions exceeding one-third of total returns in many cases.
Based in Jericho, Kimco Realty (KIM - Free Report) is in the Finance sector, and so far this year, shares have seen a price change of 19.24%. The real estate investment trust is currently shelling out a dividend of $0.26 per share, with a dividend yield of 4.3%. This compares to the REIT and Equity Trust - Retail industry's yield of 3.82% and the S&P 500's yield of 1.44%.
Looking at dividend growth, the company's current annualized dividend of $1.04 is up 3% from last year. Over the last 5 years, Kimco Realty has increased its dividend 5 times on a year-over-year basis for an average annual increase of 14.37%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. Kimco Realty's current payout ratio is 58%, meaning it paid out 58% of its trailing 12-month EPS as dividend.
Looking at this fiscal year, KIM expects solid earnings growth. The Zacks Consensus Estimate for 2026 is $1.83 per share, which represents a year-over-year growth rate of 3.98%.
From greatly improving stock investing profits and reducing overall portfolio risk to providing tax advantages, investors like dividends for a variety of different reasons. However, not all companies offer a quarterly payout.
For instance, it's a rare occurrence when a tech start-up or big growth business offers its shareholders a dividend. It's more common to see larger companies with more established profits give out dividends. Income investors have to be mindful of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. With that in mind, KIM is a compelling investment opportunity. Not only is it a strong dividend play, but the stock currently sits at a Zacks Rank of #3 (Hold).
June 10, 2026 08:54 ET | Source: Kimco Realty Corporation
JERICHO, N.Y., June 10, 2026 (GLOBE NEWSWIRE) -- Kimco Realty® (NYSE: KIM) today announced that its operating subsidiary, Kimco Realty OP, LLC (“Kimco OP”), intends to offer, subject to market and other conditions, $500,000,000 aggregate principal amount of exchangeable senior notes due 2031 (the “notes”) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Kimco Realty Corporation (“Kimco”) will fully and unconditionally guarantee the notes on a senior, unsecured basis. Kimco OP also expects to grant the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $75,000,000 aggregate principal amount of notes.
The notes will be senior, unsecured obligations of Kimco OP, will accrue interest payable semi-annually in arrears and will mature on June 15, 2031, unless earlier repurchased, redeemed or exchanged. Noteholders will have the right to exchange their notes in certain circumstances and during specified periods. Kimco OP will settle exchanges in cash and, if applicable, shares of Kimco’s common stock.
The notes will be redeemable, in whole or in part (subject to certain limitations), for cash at Kimco OP’s option at any time, and from time to time, on or after June 20, 2029 and on or before the 25th scheduled trading day immediately before the maturity date, but only if the last reported sale price per share of Kimco’s common stock exceeds 130% of the exchange price for a specified period of time and certain other conditions are satisfied. In addition, the notes will be redeemable, in whole or in part (subject to certain limitations), at Kimco OP’s option at any time to the extent necessary to preserve Kimco’s status as a real estate investment trust for U.S. federal income tax purposes, so long as certain conditions are satisfied. The redemption price will be equal to the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.
If certain corporate events that constitute a “fundamental change” occur, then, subject to a limited exception, noteholders may require Kimco OP to repurchase their notes for cash. The repurchase price will be equal to the principal amount of the notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the applicable repurchase date.
The notes will be entitled to the benefits of a registration rights agreement pursuant to which Kimco will agree to register, under the Securities Act, the resale of the shares of Kimco’s common stock, if any, issuable upon exchange of the notes within specified time periods and subject to certain limitations.
The interest rate, initial exchange rate and other terms of the notes will be determined at the pricing of the offering.
Kimco OP intends to use up to approximately $125.0 million of the net proceeds from this offering to repurchase shares of Kimco’s common stock concurrently with the pricing of this offering in privately negotiated transactions effected through one of the initial purchasers or its affiliate, as Kimco OP’s agent. Kimco OP intends to use the remainder of the net proceeds for general corporate purposes, including, but not limited to, the redemption or repayment of indebtedness and funding for suitable acquisition, investment and redevelopment opportunities.
The offer and sale of the notes, the guarantee and any shares of Kimco’s common stock issuable upon exchange of the notes have not been registered under the Securities Act or any other securities laws, and the notes and any such shares cannot be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable securities laws. Although Kimco OP and Kimco intend to enter into a registration rights agreement pursuant to which Kimco will agree to register, under the Securities Act, the resale of the shares of Kimco’s common stock, if any, issuable upon exchange of the notes, the registration rights agreement will contain significant limitations, and a resale registration statement may not be available at the time investors wish to resell the shares of Kimco’s common stock, if any, issuable upon exchange of their notes. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the notes or any shares of Kimco’s common stock issuable upon exchange of the notes, nor will there be any sale of the notes or any such shares, in any state or other jurisdiction in which such offer, sale or solicitation would be unlawful.
About Kimco Realty®
Kimco Realty® (NYSE: KIM) is a real estate investment trust (REIT) and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States. The company’s portfolio is strategically concentrated in the first-ring suburbs of the top major metropolitan markets, including high-barrier-to-entry coastal markets and Sun Belt cities. Its tenant mix is focused on essential, necessity-based goods and services that drive multiple shopping trips per week. Publicly traded on the NYSE since 1991 and included in the S&P 500 Index, the company has specialized in shopping center ownership, management, acquisitions, and value-enhancing redevelopment activities for more than 65 years. With a proven commitment to corporate responsibility, Kimco Realty is a recognized industry leader in this area. As of March 31, 2026, the company owned interests in 565 U.S. shopping centers and mixed-use assets comprising 100 million square feet of gross leasable space.
Safe Harbor Statement
This press release includes forward-looking statements, including statements regarding the anticipated terms of the notes being offered, the completion, timing and size of the proposed offering and the intended use of the proceeds. Forward-looking statements represent Kimco’s current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties are market conditions, including market interest rates, the trading price and volatility of Kimco’s common stock and risks relating to Kimco’s business, including those described in periodic reports that Kimco OP files from time to time with the SEC. Kimco OP may not consummate the proposed offering described in this press release and, if the proposed offering is consummated, cannot provide any assurances regarding the final terms of the offering or the notes or its ability to effectively apply the net proceeds as described above. The forward-looking statements included in this press release speak only as of the date of this press release, and neither Kimco nor Kimco OP undertakes to update the statements included in this press release for subsequent developments, except as may be required by law.
CONTACT:
David F. Bujnicki
Senior Vice President, Investor Relations and Strategy
Kimco Realty Corporation
(833) 800-4343 [email protected]
June 11, 2026 06:50 ET | Source: Kimco Realty Corporation
JERICHO, N.Y., June 11, 2026 (GLOBE NEWSWIRE) -- Kimco Realty® (NYSE: KIM) today announced that its operating subsidiary, Kimco Realty OP, LLC (“Kimco OP”), priced its offering of $525,000,000 aggregate principal amount of 3.50% exchangeable senior notes due 2031 (the “notes”) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The offering size was increased from the previously announced offering size of $500,000,000 aggregate principal amount of notes. Kimco Realty Corporation (“Kimco”) will fully and unconditionally guarantee the notes on a senior, unsecured basis. The issuance and sale of the notes are scheduled to settle on June 15, 2026, subject to customary closing conditions. Kimco OP also granted the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $75,000,000 principal amount of notes.
The notes will be senior, unsecured obligations of Kimco OP and will accrue interest at a rate of 3.50% per annum, payable semi-annually in arrears on June 15 and December 15 of each year, beginning on December 15, 2026. The notes will mature on June 15, 2031, unless earlier repurchased, redeemed or exchanged. Before March 17, 2031, noteholders will have the right to exchange their notes only upon the occurrence of certain events. From and after March 17, 2031, noteholders may exchange their notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. Kimco OP will settle exchanges in cash and, if applicable, shares of Kimco’s common stock. The initial exchange rate is 30.9028 shares of Kimco’s common stock per $1,000 principal amount of notes, which represents an initial exchange price of approximately $32.36 per share of Kimco’s common stock. The initial exchange price represents a premium of approximately 27.5% over the last reported sale price of $25.38 per share of Kimco’s common stock on June 10, 2026. The exchange rate and exchange price will be subject to adjustment upon the occurrence of certain events.
The notes will be redeemable, in whole or in part (subject to certain limitations), for cash at Kimco OP’s option at any time, and from time to time, on or after June 20, 2029 and on or before the 25th scheduled trading day immediately before the maturity date, but only if the last reported sale price per share of Kimco’s common stock exceeds 130% of the exchange price for a specified period of time and certain other conditions are satisfied. In addition, the notes will be redeemable, in whole or in part (subject to certain limitations), at Kimco OP’s option at any time to the extent necessary to preserve Kimco’s status as a real estate investment trust for U.S. federal income tax purposes, so long as certain conditions are satisfied. The redemption price will be equal to the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.
If a “fundamental change” (as defined in the indenture for the notes) occurs, then, subject to a limited exception, noteholders may require Kimco OP to repurchase their notes for cash. The repurchase price will be equal to the principal amount of the notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the applicable repurchase date.
The notes will be entitled to the benefits of a registration rights agreement pursuant to which Kimco will agree to register, under the Securities Act, the resale of the shares of Kimco’s common stock, if any, issuable upon exchange of the notes within specified time periods and subject to certain limitations.
Kimco OP estimates that the net proceeds from the offering will be approximately $513.5 million (or approximately $587.0 million if the initial purchasers fully exercise their option to purchase additional notes), after deducting the initial purchasers’ discounts and commissions and Kimco OP’s estimated offering expenses. Kimco OP intends to use approximately $104.7 million of the net proceeds to repurchase 4,125,900 shares of Kimco’s common stock concurrently with the pricing of this offering in privately negotiated transactions effected through one of the initial purchasers or its affiliate, as Kimco OP’s agent. Kimco OP intends to use the remainder of the net proceeds for general corporate purposes, including, but not limited to, the redemption or repayment of indebtedness and funding for suitable acquisition, investment and redevelopment opportunities.
The offer and sale of the notes, the guarantee and any shares of Kimco’s common stock issuable upon exchange of the notes have not been registered under the Securities Act or any other securities laws, and the notes and any such shares cannot be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable securities laws. Although Kimco OP and Kimco will enter into a registration rights agreement pursuant to which Kimco will agree to register, under the Securities Act, the resale of the shares of Kimco’s common stock, if any, issuable upon exchange of the notes, the registration rights agreement will contain significant limitations, and a resale registration statement may not be available at the time investors wish to resell the shares of Kimco’s common stock, if any, issuable upon exchange of their notes. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the notes or any shares of Kimco’s common stock issuable upon exchange of the notes, nor will there be any sale of the notes or any such shares, in any state or other jurisdiction in which such offer, sale or solicitation would be unlawful.
About Kimco Realty®
Kimco Realty® (NYSE: KIM) is a real estate investment trust (REIT) and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States. The company’s portfolio is strategically concentrated in the first-ring suburbs of the top major metropolitan markets, including high-barrier-to-entry coastal markets and Sun Belt cities. Its tenant mix is focused on essential, necessity-based goods and services that drive multiple shopping trips per week. Publicly traded on the NYSE since 1991 and included in the S&P 500 Index, the company has specialized in shopping center ownership, management, acquisitions, and value-enhancing redevelopment activities for more than 65 years. With a proven commitment to corporate responsibility, Kimco Realty is a recognized industry leader in this area. As of March 31, 2026, the company owned interests in 565 U.S. shopping centers and mixed-use assets comprising 100 million square feet of gross leasable space.
Forward-Looking Statements
This press release includes forward-looking statements, including statements regarding the completion of the offering and the expected amount and intended use of the net proceeds. Forward-looking statements represent Kimco’s current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties are market conditions, the satisfaction of the closing conditions related to the offering and risks relating to Kimco’s business, including those described in periodic reports that Kimco OP files from time to time with the SEC. Kimco OP may not consummate the offering described in this press release and, if the offering is consummated, cannot provide any assurances regarding its ability to effectively apply the net proceeds as described above. The forward-looking statements included in this press release speak only as of the date of this press release, and neither Kimco nor Kimco OP undertakes to update the statements included in this press release for subsequent developments, except as may be required by law.
CONTACT:
David F. Bujnicki
Senior Vice President, Investor Relations and Strategy
Kimco Realty Corporation
(833) 800-4343 [email protected]
Key Takeaways FITB shifts listing from Nasdaq to NYSE after the Comerica merger, becoming the 9th-largest U.S. bank.FITB's strategy centers on scaling via acquisitions, and expanding fee-based earnings and reach.FITB's NYSE move aims to boost visibility for institutional investors and improve trading quality. Fifth Third Bancorp’s (FITB - Free Report) long-term goal is to evolve from a traditional regional lender into a larger, more diversified national banking institution with stronger fee-based earnings, broader geographic reach and improved competitiveness against the biggest U.S. banks.
A key part of that strategy is scaling up through acquisitions, strengthening presence in high-growth markets and reducing the reliance on purely regional exposure. The company’s recent strategic move involving its merger with Comerica significantly reshaped its footprint and market positioning. Following the completion of the deal, Fifth Third became the ninth-largest U.S. bank.
Against this backdrop of expanded scale, Fifth Third is now shifting its stock listing from Nasdaq to the New York Stock Exchange (“NYSE”). The move is expected to take place in mid-June and is designed to better align the company’s public-market identity with its new size and structure after the merger.
The NYSE is generally associated with large-cap financial institutions, and the listing change appears aimed at increasing visibility among institutional investors while reinforcing the message that Fifth Third has moved beyond a purely regional banking profile. Importantly, the transfer is largely symbolic in terms of operations, but it can influence how the market perceives the bank’s scale, stability and long-term trajectory.
There may also be modest trading advantages. The NYSE’s market structure is designed to support liquidity and price discovery, particularly during periods of volatility. For a large bank like FITB, which had assets of $297 billion as of March 31, 2026, these benefits may not be dramatic, but they could still improve trading quality over time.
Overall, the move reflects Fifth Third’s effort to align its stock-market presence with its larger post-merger identity. As the bank integrates Comerica and works to deliver on promised growth and efficiency gains, its shift to the NYSE underscores management’s focus on scale, visibility and long-term shareholder value.
FITB’s Peer ContextFITB peers Huntington Bancshares (HBAN - Free Report) and Citizens Financial (CFG - Free Report) are among the top 20 largest U.S banks.
With total assets of $285.4 billion as of March 31, 2026, Huntington Bancshares provides a comprehensive suite of banking, payments, wealth management, and risk management products and services.
Citizens Financial, with $227.9 billion in total assets as of March 31, 2026, offers retail and commercial banking products and services to individuals, institutions and companies.
FITB’s Price Performance & Zacks RankIn the past six months, Fifth Third’s shares have gained 8.1% compared with the industry’s growth of 12.2%.
Image Source: Zacks Investment Research
Currently, the company carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
On June 02, 2026, Fifth Third Bancorp FITB shares rose 3.6% today, bringing the current price to $50.31. The stock has traded between $37.29 and $55.44 over the past year, reflecting both volatility and growth. The recent price increase follows a year of significant performance, with a 36.9% rise over the past year and an 8.4% increase year-to-date.
GF Value™ verdict: Current price of $50.31 is 10.9% above GF Value™ of $45.37.GF Score™: 68/100, indicating an above-average potential for long-term returns.Notable signal: Insiders have sold $1.3 million worth of shares in the last three months, indicating a lack of buying interest. Is FITB Overvalued or Undervalued? According to the GF Value™, Fifth Third Bancorp is currently overvalued, with a market price of $50.31 compared to its estimated fair value of $45.37. This represents a 10.9% premium over its intrinsic value, suggesting that the stock may not provide a sufficient margin of safety for new investors. The GF Valuation label indicates that FITB is modestly overvalued, which raises concerns regarding potential downside risk for investors entering at this price point.
GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. The overvaluation could lead to price corrections if the market adjusts to align with the estimated fair value, presenting a risk for those considering a position in the stock at its current price.
How Does FITB's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 16.9x 11.7x (5-Year Median) Forward P/E 12.9x N/A The current price-to-earnings (P/E) ratio of 16.9x is significantly higher than its 5-year median P/E of 11.7x, representing a 44% increase. This analysis indicates that FITB is trading above its historical valuation levels, which aligns with the GF Value™ verdict of being overvalued. Given these metrics, investors may want to consider the elevated P/E ratio as an indication that current pricing may not fully reflect the company's fundamental performance.
What Does FITB's GF Score™ Tell Us? Metric Rating GF Score™ 68 Financial Strength 2/10 Profitability 4/10 Growth 6/10 Valuation 7/10 Momentum 8/10 The GF Score™ of 68/100 suggests that Fifth Third Bancorp has an above-average potential for long-term returns. However, the scores reveal a mixed picture; the company demonstrates weaknesses in financial strength (2/10), which raises concerns about its stability, while it shows stronger momentum (8/10) and valuation (7/10) rankings. This combination indicates that while there may be growth potential, the underlying financial health of the company should be a key consideration for potential investors.
What Are Insiders Doing with FITB Stock? In the past three months, insiders have sold a total of $1.3 million worth of Fifth Third Bancorp shares, with no reported insider buying during this period. This trend of selling might suggest a lack of confidence among insiders about the stock's future performance or a strategic decision to realize gains. The absence of buying activity further emphasizes caution, as insider purchases are often viewed as a positive signal regarding a company's prospects.
What This Means for Investors Based on the GF Value™ assessment, Fifth Third Bancorp is currently deemed overvalued. The current price of $50.31 is 10.9% above its estimated fair value of $45.37, suggesting that potential investors may want to reassess their positions or wait for a more favorable entry point. The combination of insider selling and a high P/E ratio adds further weight to the caution surrounding this stock.
For the complete analysis, visit the Fifth Third Bancorp FITB stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is FITB's GF Score™?
The GF Score™ for Fifth Third Bancorp is 68/100, indicating an above-average potential for long-term returns based on its evaluation metrics.
Is FITB overvalued or undervalued?
Fifth Third Bancorp is currently overvalued, with a market price of $50.31 being 10.9% above its GF Value™ of $45.37.
What is FITB's P/E ratio?
The current P/E ratio for Fifth Third Bancorp is 16.9x, which is 44% higher than its 5-year median P/E of 11.7x, indicating that the stock is trading above its historical valuation levels.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Key Takeaways FITB CET1 ratio of 9.96% supports capital returns above regulatory requirements.FITB raised its quarterly dividend 8.1% to 40 cents, marking five hikes in five years.FITB has 93.1M shares remaining under its 100M buyback authorization as of March 2026. Fifth Third Bancorp (FITB - Free Report) maintains a shareholder-friendly capital distribution approach, supported by a strong capital position and ample liquidity. As of March 31, 2026, the company's common equity tier 1 (CET1) ratio was 9.96%, reflecting a solid capital position that supports shareholder returns while maintaining a comfortable buffer above regulatory requirements.
The company continues to deliver consistent dividend payouts. In September 2025, it announced an 8.1% increase in its quarterly dividend to 40 cents per share. Further, FITB has raised its dividend five times over the past five years, reflecting management's confidence in the company's earnings strength and long-term growth prospects. Currently, Fifth Third's dividend yield is 3.18%, higher than the industry's 2.91%, while its payout ratio stands at 43%.
Dividend Yield
Image Source: Zacks Investment Research
Apart from dividends, the company also has a share repurchase plan in place. In June 2025, Fifth Third's board of directors authorized the repurchase of up to 100 million shares of common stock. As of March 31, 2026, approximately 93.1 million shares remained available under the authorization. Although buybacks were temporarily paused following the Comerica acquisition, management continues to expect a return to regular quarterly share repurchases in the second half of 2026 as integration efforts advance.
As of March 31, 2026, Fifth Third had total debt (including long-term debt and other short-term borrowings) of $20 billion, while total liquidity, comprising cash and due from banks and other short-term investments, was $21.5 billion. In addition, the company's investment-grade senior debt ratings of A3, A- and A- from Moody's, Standard & Poor's and Fitch, respectively, facilitate easy access to the debt market at favorable rates. These ratings indicate a strong financial position with low credit risk and reinforce the company's ability to meet its debt obligations even during challenging economic conditions.
Thus, given its strong capital position, ample liquidity and shareholder-friendly capital deployment strategy, Fifth Third appears well-positioned to sustain capital distributions in the future, thereby continuing to enhance shareholder value.
How Is FITB Placed in Capital Returns Compared With Peers?Fifth Third’s two close peers are Northern Trust (NTRS - Free Report) and M&T Bank (MTB - Free Report) .
Northern Trust’s capital distribution activities seem impressive. After clearing the Federal Reserve’s 2025 stress test, the company raised its dividend 6.7% to 80 cents per share. Over the years, it has maintained a steady approach toward shareholder returns, supported by consistent capital management.
Northern Trust also has a share repurchase plan in place. In October 2021, the company announced a 25-million share repurchase program with no expiration date. As of March 31, 2026, 1.64 million shares were available under the authorization. Management expects to maintain a similar level of share repurchase activity in the upcoming quarters, reflecting its commitment to returning capital to shareholders.
M&T Bank has come a long way in demonstrating capital strength through steady shareholder returns. The company cleared the Federal Reserve’s 2025 stress test, reinforcing its ability to sustain capital distributions. In August 2025, M&T Bank increased its quarterly dividend by 11.1% to $1.50 per share.
The company also continues to focus on share repurchases. In March 2026, the board approved a new share repurchase program of up to $5 billion of common stock. As of March 31, 2026, nearly $90 million remained available under the earlier authorization. Supported by a strong liquidity profile and consistent performance, M&T Bank’s capital distribution strategy appears sustainable.
FITB’s Price Performance & Zacks RankOver the past six months, shares of Fifth Third have gained 10.7% compared with the industry’s 11.5% growth.
Price Performance
Image Source: Zacks Investment Research
Currently, FITB carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
New banking experience combines digital lending, faster payments, and local banker support to help business owners reduce friction and grow with confidence
CINCINNATI--(BUSINESS WIRE)--Fifth Third (NASDAQ: FITB) today introduced Fifth Third for Business, a small business banking experience designed to help owners manage cash flow, get paid faster, and access capital with greater speed and confidence. The experience is rolling out to more than 240,000 small business customers.
“Running a small business today requires speed, simplicity, and confidence in your financial tools,” said Ben Mendelsohn, senior vice president and director of Consumer and Small Business Products at Fifth Third. “With Fifth Third for Business, we’re giving owners a more efficient way to move money, lower costs, and secure capital quickly, while pairing modern digital capabilities with the support of local bankers who understand their businesses.”
The launch reflects Fifth Third’s broader strategy to scale modern banking capabilities across its consumer and small business franchise, combining the speed and simplicity of digital tools with the strength, stability, and expertise of an established bank.
Introducing Fifth Third for Business
Fifth Third for Business integrates banking, payments, and lending capabilities into one small business experience to help entrepreneurs spend less time managing financial tasks and more time serving their customers. Delivered digitally and supported by a growing network of local branch bankers, benefits include:
Early Pay1: Access eligible deposits up to two days early—such as merchant processing deposits and payments from local, state, and federal governments—and tax refunds up to five days early, at no cost. Extra Time2: Get until midnight ET the next business day to make a deposit and help avoid overdraft fees. Digital Lending: Apply for financing for working capital, inventory, or equipment needs in as little as one hour. The capability is built on Fifth Third’s homegrown business‑lending platform—the same modern technology stack that powers Provide. Zelle®: With Zelle, used by 7.7 million enrolled small businesses, enrolled small business owners can get paid typically in minutes by enrolled customers, shortening the payment cycle and simplifying day-to-day money management. Small businesses are the fastest growing segment on the Zelle network, accounting for nearly 30% of the more than $1.2 trillion in Zelle payments last year. Tap-to-Pay: Fifth Third now enables merchants to accept tap‑to‑pay transactions directly on a smartphone—anytime, anywhere. Via the Worldpay Commerce360 app, businesses can accept contactless debit and credit cards, as well as Apple Pay, Google Pay, and other leading digital wallets, on compatible iPhone and Android devices. Fifth Third offers three business checking tiers: Business Checking, Premium Business Checking, and Elite Business Checking. Early Pay and Extra Time benefits are available with Fifth Third Premium and Elite Business Checking accounts.
Fifth Third acquired Provide in 2021, adding a digital lending platform with deep experience in healthcare practice finance. In 2024, Fifth Third expanded Provide's proprietary technology beyond healthcare to power SBA 7(a) loan origination. Now, with the launch of Fifth Third for Business, that same platform supports streamlined digital lending for small business customers across the Bank's footprint, with approvals for up to $100,000 in financing in as little as one hour.
“Small business owners need capital that moves at the speed of their business,” said Andrew Bennett, head of Small Business at Fifth Third. “By bringing Provide’s digital lending platform to more Fifth Third customers, we’re reducing paperwork, accelerating decisions, and giving owners more certainty when they need to invest in inventory, equipment, or growth.”
Built for Small Businesses—and Backed by a 168‑Year‑Old Bank
Fifth Third combines the speed and simplicity business owners expect from modern financial technology with the strength, stability, and local expertise of a national bank embedded in its communities. The Bank continues to expand its branch network in high‑growth markets, with branch teams and spaces designed to support deeper financial conversations with business owners.
Fifth Third also invests directly in small business growth through the Fifth Third Small Business Catalyst Fund. In 2025, the Bank awarded $5,300 grants to nearly 50 small businesses across the U.S., the first awards from a $7.85 million fund launched in partnership with Community Reinvestment Fund, USA—broadening financial access, fueling job creation, and supporting a more equitable small business ecosystem.
“Managing cash flow is a leading concern for small business owners—and we meet that need head-on with multiple solutions to get paid quickly. Whether you’re a farmer using Zelle to sell produce at a local farmer’s market, a cafe getting your card payments deposited with Early Pay, or a machine tool shop that needs to finance a large order, we’re designing for real-world moments,” Mendelsohn added. “That’s how owners save time and help build confidence to focus on customers and growth.”
What’s Next
Fifth Third will continue to modernize the small business experience with enhanced digital origination, more seamless online and mobile banking connections between personal and business profiles, and a modern authentication and login experience—laying the groundwork for deeper product integrations throughout 2028.
Visit 53.com/business or speak with a Fifth Third small business banker to get started.
About Fifth Third
Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere’s World’s Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.
Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at www.53.com. Deposit and credit products provided by Fifth Third Bank, National Association. Member FDIC.
Zelle® and the Zelle® related marks are wholly owned by Early Warning Services, LLC and are used herein under license.
Fifth Third Bank, National Association may refer customers to Worldpay for merchant services. Compensation for such referrals may be paid by Worldpay to Fifth Third if the referral results in new business for Worldpay. The amount of any referral fee paid for received services will not affect the fees paid or payable by you.
1 Early Pay: Early Pay is a fee-free feature available for Fifth Third Business Premium Checking and Fifth Third Business Elite Checking. Early Pay grants you access to your eligible ACH payments up to two days prior to the scheduled payment date. Federal tax refunds may be received from the Internal Revenue Service up to five days before the scheduled payment date. Early access to funds is dependent on submission of direct deposit by payer and standard fraud prevention restrictions.
2 Extra Time: Fifth Third Extra Time® is a fee-free feature available for Fifth Third Business Premium Checking and Fifth Third Business Elite Checking. Fifth Third Extra Time® gives you longer—anytime before midnight ET on the business day after your account is overdrawn—to make a deposit that brings your available balance to at least $0. You must deposit enough to cover all items that caused your overdraft plus any outstanding checks, automatic payments, or pending debit card purchases that may be presented that business day. Extra Time does not apply to items that are returned unpaid.
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52-Week Range$37.86▼
$55.44Dividend Yield2.93%
P/E Ratio18.35
Price Target$57.29
Fifth Third Bancorp NASDAQ: FITB is entering a new chapter.
Having completed its merger with Comerica in the first quarter this year, Fifth Third is now among the top 10 U.S. banks by assets, with roughly $297 billion on its balance sheet. The transformation, still in the integration phase, is making Fifth Third into a fundamentally larger, more complex, and potentially more rewarding story than it was before.
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The story is a bit complicated, but analysts like what they see.
Comerica Dramatically Expands Fifth Third’s ReachTo appreciate where Fifth Third is today, it’s important to know what Comerica brought to the table. When the merger closed in February, Fifth Third absorbed $86 billion in assets, $51 billion in loans, and $65 billion in deposits in a single transaction.
The Cincinnati-based bank also inherited Comerica’s substantial Texas presence as well as its offices in 15 states and offerings in Canada and Mexico. With its roots in Michigan, Comerica is now based in Dallas, where it has grown its footprint in the Southwest over recent years. Overnight, through the nearly $11 billion purchase, Fifth Third gained scale, geography, and a customer base it would have taken years to build organically.
Comerica’s customer mix also boosted Fifth Third’s funding profile. The share of demand deposits, prized by banks for their low cost and stability, rose from 25% of total deposits to 28% after the merger. That increase can translate into better margins and more predictable earnings.
Merger Costs Mask Strong Underlying PerformanceGiven the new acquisition, Fifth Third’s first-quarter earnings report requires careful reading. The headline number was perhaps alarming: Net income fell to $128 million from $478 million a year earlier. GAAP earnings per share were 15 cents, down sharply from $1.04 in the fourth quarter and 71 cents a year earlier. But factor in the $567 million in merger-related costs, and results were dragged down by a net 68 cents per share.
Other numbers, as previously anticipated, were decidedly positive. Net interest income, or the difference between what it earns on loans and what it pays on deposits, rose to $1.94 billion in the quarter, up from $1.4 billion a year earlier. Noninterest income climbed 29% to $895 million from $694 million in the year-ago period. And the bank’s net interest margin expanded 27 basis points to 3.3% from a year earlier. Tangible book value per share grew 15% year-over-year to $22.88.
Organic Growth Remains Strong Across the FranchiseAnother detail deserves attention. Fifth Third was growing even before the Comerica deal made the numbers jump. Consumer household growth in the legacy franchise came in at 3% YOY, with 8% growth in the highly desirable and competitive Southeast. Fee revenue grew 30% YOY, and the company reported $2.7 billion in new deposit flows. Now, even with some branch closures expected out of the previously combined total of 1,489 branches, that growth is likely to continue.
Wall Street Expects Integration Benefits to Drive ResultsWall Street is strongly supportive. Of the 21 analysts following the company, 17 have a Buy rating with several listing the stock as an overweight or outperform. Four analysts suggest Hold, and overall, the company is rated as a Moderate Buy, with an average price target of $57.19, or nearly 15% above current trading value.
Current Price$54.59High Forecast$63.00Average Forecast$57.29Low Forecast$53.00Fifth Third Bancorp Stock Forecast Details
The company is further anticipating $360 million of net cost savings this year with an $850 million run rate savings by the end of fourth quarter as the integration takes hold. For the full year, management is expecting net interest income to come in between $8.7 billion and $8.8 billion, compared with pre-merger results of $6 billion last year. Guidance for non-interest income is between $4 billion and $4.2 billion, compared with about $3 billion in 2025.
For investors looking at income in addition to the merger story, Fifth Third currently offers a dividend at a quarterly rate of 40 cents, up from 37 cents a year ago, representing a dividend yield of approximately 3.2%. It’s not the highest yield in the financial sector, but a respectable payout backed by a net tangible common equity ratio of 7.3%.
Execution Will Determine Long-Term ValueOf course, even the best mergers with banks of this size involve risk. Technology failures, customer attrition, unexpected credit issues in the acquired portfolio, and talent turnover are always possibilities.
The valuation also matters. With shares reaching $50, and a consensus target below $60, Fifth Third is already priced for growth and as a bank expected to execute well. As such, this year’s performance is critical.
Still, the underlying trends tell an encouraging story. Put aside the complication of merger results and there appears a well-run bank executing on a well-reasoned strategy. If management can prove themselves right, Fifth Third is a solid bank candidate for a portfolio.
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Fifth Third (NASDAQ: FITB) today introduced Fifth Third for Business, a small business banking experience designed to help owners manage cash flow, get paid faster, and access capital with greater speed and confidence. The experience is rolling out to more than 240,000 small business customers.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260604864014/en/
Fifth Third for Business helps small businesses get paid faster, manage cash flow, and access capital.
“Running a small business today requires speed, simplicity, and confidence in your financial tools,” said Ben Mendelsohn, senior vice president and director of Consumer and Small Business Products at Fifth Third. “With Fifth Third for Business, we’re giving owners a more efficient way to move money, lower costs, and secure capital quickly, while pairing modern digital capabilities with the support of local bankers who understand their businesses.”
The launch reflects Fifth Third’s broader strategy to scale modern banking capabilities across its consumer and small business franchise, combining the speed and simplicity of digital tools with the strength, stability, and expertise of an established bank.
Introducing Fifth Third for Business
Fifth Third for Business integrates banking, payments, and lending capabilities into one small business experience to help entrepreneurs spend less time managing financial tasks and more time serving their customers. Delivered digitally and supported by a growing network of local branch bankers, benefits include:
Early Pay1: Access eligible deposits up to two days early—such as merchant processing deposits and payments from local, state, and federal governments—and tax refunds up to five days early, at no cost. Extra Time2: Get until midnight ET the next business day to make a deposit and help avoid overdraft fees. Digital Lending: Apply for financing for working capital, inventory, or equipment needs in as little as one hour. The capability is built on Fifth Third’s homegrown business‑lending platform—the same modern technology stack that powers Provide. Zelle®: With Zelle, used by 7.7 million enrolled small businesses, enrolled small business owners can get paid typically in minutes by enrolled customers, shortening the payment cycle and simplifying day-to-day money management. Small businesses are the fastest growing segment on the Zelle network, accounting for nearly 30% of the more than $1.2 trillion in Zelle payments last year. Tap-to-Pay: Fifth Third now enables merchants to accept tap‑to‑pay transactions directly on a smartphone—anytime, anywhere. Via the Worldpay Commerce360 app, businesses can accept contactless debit and credit cards, as well as Apple Pay, Google Pay, and other leading digital wallets, on compatible iPhone and Android devices. Fifth Third offers three business checking tiers: Business Checking, Premium Business Checking, and Elite Business Checking. Early Pay and Extra Time benefits are available with Fifth Third Premium and Elite Business Checking accounts.
Fifth Third acquired Provide in 2021, adding a digital lending platform with deep experience in healthcare practice finance. In 2024, Fifth Third expanded Provide's proprietary technology beyond healthcare to power SBA 7(a) loan origination. Now, with the launch of Fifth Third for Business, that same platform supports streamlined digital lending for small business customers across the Bank's footprint, with approvals for up to $100,000 in financing in as little as one hour.
“Small business owners need capital that moves at the speed of their business,” said Andrew Bennett, head of Small Business at Fifth Third. “By bringing Provide’s digital lending platform to more Fifth Third customers, we’re reducing paperwork, accelerating decisions, and giving owners more certainty when they need to invest in inventory, equipment, or growth.”
Built for Small Businesses—and Backed by a 168‑Year‑Old Bank
Fifth Third combines the speed and simplicity business owners expect from modern financial technology with the strength, stability, and local expertise of a national bank embedded in its communities. The Bank continues to expand its branch network in high‑growth markets, with branch teams and spaces designed to support deeper financial conversations with business owners.
Fifth Third also invests directly in small business growth through the Fifth Third Small Business Catalyst Fund. In 2025, the Bank awarded $5,300 grants to nearly 50 small businesses across the U.S., the first awards from a $7.85 million fund launched in partnership with Community Reinvestment Fund, USA—broadening financial access, fueling job creation, and supporting a more equitable small business ecosystem.
“Managing cash flow is a leading concern for small business owners—and we meet that need head-on with multiple solutions to get paid quickly. Whether you’re a farmer using Zelle to sell produce at a local farmer’s market, a cafe getting your card payments deposited with Early Pay, or a machine tool shop that needs to finance a large order, we’re designing for real-world moments,” Mendelsohn added. “That’s how owners save time and help build confidence to focus on customers and growth.”
What’s Next
Fifth Third will continue to modernize the small business experience with enhanced digital origination, more seamless online and mobile banking connections between personal and business profiles, and a modern authentication and login experience—laying the groundwork for deeper product integrations throughout 2028.
Visit 53.com/business or speak with a Fifth Third small business banker to get started.
About Fifth Third
Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere’s World’s Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.
Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at www.53.com. Deposit and credit products provided by Fifth Third Bank, National Association. Member FDIC.
Zelle® and the Zelle® related marks are wholly owned by Early Warning Services, LLC and are used herein under license.
Fifth Third Bank, National Association may refer customers to Worldpay for merchant services. Compensation for such referrals may be paid by Worldpay to Fifth Third if the referral results in new business for Worldpay. The amount of any referral fee paid for received services will not affect the fees paid or payable by you.
1 Early Pay: Early Pay is a fee-free feature available for Fifth Third Business Premium Checking and Fifth Third Business Elite Checking. Early Pay grants you access to your eligible ACH payments up to two days prior to the scheduled payment date. Federal tax refunds may be received from the Internal Revenue Service up to five days before the scheduled payment date. Early access to funds is dependent on submission of direct deposit by payer and standard fraud prevention restrictions.
2 Extra Time: Fifth Third Extra Time® is a fee-free feature available for Fifth Third Business Premium Checking and Fifth Third Business Elite Checking. Fifth Third Extra Time® gives you longer—anytime before midnight ET on the business day after your account is overdrawn—to make a deposit that brings your available balance to at least $0. You must deposit enough to cover all items that caused your overdraft plus any outstanding checks, automatic payments, or pending debit card purchases that may be presented that business day. Extra Time does not apply to items that are returned unpaid.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20260604864014/en/
CINCINNATI--(BUSINESS WIRE)--Fifth Third Private Bank, a division of Fifth Third Bank (Nasdaq: FITB), was named Best Private Bank for High Net Worth Clients by The Digital Banker and Global Private Banker as part of the Global Private Banking Innovation Awards, marking its fifth consecutive year receiving this recognition. The Private Bank was also named Best Private Bank for Client Experience – USA.
“We are honored by this recognition and appreciate the trust our clients continue to place in us. It is a privilege to serve as a trusted advisor and to help shape the path toward their most meaningful ambitions,” said Peter Sefzik, head of Wealth and Asset Management, Fifth Third Bank.
Global Private Banker award judges provided the following comments: “Fifth Third Private Bank distinguishes itself through a deeply personalized, strategy-led model that embeds a complimentary, tailored wealth plan at the core of every high-net-worth client relationship, delivered by highly credentialed local teams and enhanced by advanced digital capabilities.”
“This award reflects the confidence our clients place in us and the enduring relationships we are privileged to build. Our team is dedicated to delivering the ultimate experience, with tailored strategies designed to preserve and grow wealth across generations and market environments,” said Christopher Keller, managing director, National Private Bank, Fifth Third Bank.
Awards judges also noted: “… the introduction of specialized Client Service Teams—has strengthened scalability, improved efficiency, and enabled advisors to focus on proactive, high-value guidance. These strengths translate into exceptional client outcomes, evidenced by a leading Net Promoter Score of 75, rising satisfaction and loyalty metrics, strong financial performance, and industry recognition for excellence in client experience.”
Earlier this year, Fifth Third closed its merger with Comerica Incorporated to create the ninth-largest U.S. bank. The combined company includes the $1 billion recurring and high-return fee Wealth and Asset Management business line, inclusive of Fifth Third Private Bank.
About Fifth Third
Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere’s World’s Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.
Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank, and its common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at www.53.com.
Fifth Third has introduced a small business banking experience that combines digital lending, faster payments and local banker support.
The bank is rolling out the new Fifth Third for Business to more than 240,000 small business customers, it said in a Thursday (June 4) press release.
Fifth Third for Business offers Early Pay that provides access to eligible deposits up to two days early and tax refunds up to five days early; Extra Time that gives owners until midnight ET the next day to make a deposit and avoid overdraft fees; and digital lending that allows owners to apply for financing in as little as one hour.
The new banking experience also enables small businesses to get paid with Zelle, which typically shortens the payment cycle to minutes, and to accept tap-to-pay transactions directly on a smartphone, anytime and anywhere.
“With Fifth Third for Business, we’re giving owners a more efficient way to move money, lower costs and secure capital quickly, while pairing modern digital capabilities with the support of local bankers who understand their business,” Ben Mendelsohn, senior vice president and director of consumer and small business products at Fifth Third, said in the release.
Fifth Third said in February that it became the ninth-largest U.S. bank when it closed its merger with Comerica. At that time, the bank had $294 billion in assets and operated in 17 of the 20 fastest-growing large markets in the country, including key regions in the Midwest, Southeast, Texas and California.
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“This combination marks a pivotal moment for Fifth Third as we accelerate our strategy to build density in high-growth markets and deepen our commercial capabilities,” Tim Spence, chairman, CEO and president of Fifth Third, said at the time in a press release.
Fifth Third had announced four months earlier, in October, that it planned a $10.9 billion merger with Comerica.
During an October earnings call, Spence said the merger would produce a diversified and even more profitable company.
“We are excited to add Comerica’s strong verticals to our existing expertise, including in national dealer services, environmental services, and tech and life sciences, among others,” Spence said.
CINCINNATI--(BUSINESS WIRE)--Fifth Third Bank (NASDAQ: FITB) today announced that its Newline™ platform has been named an Innovation of the Year 2026 honoree by American Banker, recognizing its role in powering large-scale payments and embedded finance capabilities for fintechs and enterprise clients.
As part of its Innovation of the Year program, American Banker recognizes teams and individuals whose groundbreaking, innovative projects, initiatives and developments solve key challenges, capitalize on new opportunities and drive measurable results while redefining the future of digital finance.
Newline reflects a growing shift in the payments landscape, where fintechs and platforms require bank partners that can operate as scalable, technology-driven infrastructure providers. By combining the reach and regulatory strength of a top U.S. bank with modern, API-driven architecture, Fifth Third is enabling clients to embed payments, cards and financial services directly into their own ecosystems. American Banker noted “Newline's key product launch in 2025 was agentic commerce infrastructure – the plumbing for a future in which AI agents, not humans, initiate and approve payments.”
“Newline represents a different model for how banks support innovation in payments,” said Bridgit Chayt, head of Commercial Payments at Fifth Third. “By pairing the creativity and agility of our people with the strength, scale and trust of a leading bank, we’re delivering solutions that help our clients move faster, serve their customers better and stay ahead.”
American Banker further commented “(Newline) is now the fastest growing segment in Fifth Third's commercial payments business, which generated more than $1 billion in fee revenue in 2025. The division expects to process more than $25 trillion in payment volume in 2026, compared with the $9 trillion it processed in 2016.”
All honorees will be recognized at American Banker's Digital Banking Conference and the Most Innovative People in Finance and Innovation of the Year awards dinner on June 16.
About Newline
Newline by Fifth Third provides BIN sponsorship and a modern API‑driven platform that enables enterprise clients to launch payment, card, and deposit products directly with the Bank. Its technology helps clients embed financial capabilities seamlessly into their products, backed by Fifth Third’s standards for performance, scalability, and risk management. Newline powers offerings for leaders including Trustly and Stripe.
About Fifth Third
Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere’s World’s Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.
Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank, and its common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at www.53.com.
Fifth Third Bank (NASDAQ: FITB) today announced that its Newline™ platform has been named an Innovation of the Year 2026 honoree by American Banker, recognizing its role in powering large-scale payments and embedded finance capabilities for fintechs and enterprise clients.
As part of its Innovation of the Year program, American Banker recognizes teams and individuals whose groundbreaking, innovative projects, initiatives and developments solve key challenges, capitalize on new opportunities and drive measurable results while redefining the future of digital finance.
Newline reflects a growing shift in the payments landscape, where fintechs and platforms require bank partners that can operate as scalable, technology-driven infrastructure providers. By combining the reach and regulatory strength of a top U.S. bank with modern, API-driven architecture, Fifth Third is enabling clients to embed payments, cards and financial services directly into their own ecosystems. American Banker noted “Newline's key product launch in 2025 was agentic commerce infrastructure – the plumbing for a future in which AI agents, not humans, initiate and approve payments.”
“Newline represents a different model for how banks support innovation in payments,” said Bridgit Chayt, head of Commercial Payments at Fifth Third. “By pairing the creativity and agility of our people with the strength, scale and trust of a leading bank, we’re delivering solutions that help our clients move faster, serve their customers better and stay ahead.”
American Banker further commented “(Newline) is now the fastest growing segment in Fifth Third's commercial payments business, which generated more than $1 billion in fee revenue in 2025. The division expects to process more than $25 trillion in payment volume in 2026, compared with the $9 trillion it processed in 2016.”
All honorees will be recognized at American Banker's Digital Banking Conference and the Most Innovative People in Finance and Innovation of the Year awards dinner on June 16.
About Newline
Newline by Fifth Third provides BIN sponsorship and a modern API‑driven platform that enables enterprise clients to launch payment, card, and deposit products directly with the Bank. Its technology helps clients embed financial capabilities seamlessly into their products, backed by Fifth Third’s standards for performance, scalability, and risk management. Newline powers offerings for leaders including Trustly and Stripe.
About Fifth Third
Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere’s World’s Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.
Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank, and its common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at www.53.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260605024415/en/
Fifth Third CIO Recognized for Advancing Enterprise AI and Next-Generation Customer Experiences
CINCINNATI--(BUSINESS WIRE)--Fifth Third Bank (Nasdaq: FITB) is pleased to announce that Jude Schramm, chief information officer, has been named to American Banker’s inaugural list of the Most Innovative People in Finance. The list recognizes executives and industry leaders driving transformation across banking, payments, technology, customer experience, AI, and digital financial services.
Schramm, who joined the Bank in 2018, plays a key role in accelerating Fifth Third’s modernization efforts and expanding its digital capabilities. Schramm’s work centers on scaling artificial intelligence across the enterprise while enhancing how customers interact with the Bank through faster, more intuitive and increasingly personalized digital experiences. His approach reflects a broader shift across the industry toward operationalizing AI in ways that deliver measurable impact for both customers and employees.
Under his leadership, the Bank has significantly increased the pace of technology delivery, growing from approximately two major mobile app technology upgrades annually in 2021 to more than 500 in 2025, enabling faster innovation and more seamless customer and employee experiences.
“Jude has helped lead how Fifth Third is putting technology and AI to work in ways that improve the customer experience and make us a better, more effective bank,” said Tim Spence, chairman, CEO and president of Fifth Third. “He brings discipline, clarity and a strong focus on scaling the capabilities that matter most.”
Looking ahead, Schramm is focused on completing the combination with Comerica’s systems, further advancing the Bank’s use of artificial intelligence, continuing to enhance customer experiences, and strengthening Fifth Third’s scalable and resilient technology infrastructure to support future growth.
All honorees will be recognized at American Banker's Digital Banking Conference and the Most Innovative People in Finance and Innovation of the Year awards dinner on June 16.
About Fifth Third
Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere’s World’s Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.
Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at www.53.com. Deposit and credit products provided by Fifth Third Bank, National Association. Member FDIC.
General view of the JPMorgan Chase & Co., headquarters in New York City, U.S., April 1, 2026. REUTERS/Eduardo Munoz/File Photo Purchase Licensing Rights, opens new tab
SummaryCompaniesInvestors say banks stuck heads in the sand, ignored Tricolor auditsTricolor notes fell below 10 cents on the dollar, investors sayTwo Tricolor executives pleaded not guilty in criminal casesBanks not available for comment or declined to commentNEW YORK, June 10 (Reuters) - JPMorgan Chase (JPM.N), opens new tab, Barclays (BARC.L), opens new tab and Fifth Third (FITB.O), opens new tab won the dismissal of a lawsuit by investors who said the banks missed "giant red flags" at the now-bankrupt subprime auto lender Tricolor while fraudulently marketing its debt.
U.S. District Judge Jed Rakoff in Manhattan threw out the case on Wednesday, and said he will explain his reasoning in due course.
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Holders of more than $270 million in Tricolor asset-backed notes sold between April 2022 and June 2025 accused the banks of "sticking their heads in the sand" while financing and securitizing Tricolor's auto loans, on top of being major Tricolor lenders, and enabling the company's "Ponzi-like fraud."
The 36 plaintiffs included funds run by Janus Henderson (JHG.N), opens new tab, Ellington Capital Management and One William Street Capital Management.
Barclays and Cincinnati-based Fifth Third declined to comment. JPMorgan had no immediate comment.
Tricolor provided auto loans primarily in lower-income Hispanic communities in the southwestern U.S., before filing to liquidate in September.
The filing came 18 days before a large auto parts supplier, First Brands, sought Chapter 11 protection from creditors.
Both bankruptcies highlighted the risk of private credit, where investors provide capital to businesses that receive less regulatory oversight than businesses tapping public markets.
Investors accused JPMorgan, Barclays and Fifth Third of falsely assuring that Tricolor notes were worth buying, even as audits in 2022 and 2024 revealed that Tricolor inaccurately reported loan receivables and either misdirected or "made up" cash flow.
Some notes ended up trading below 10 cents on the dollar, the investors said.
In seeking a dismissal, the banks said the investors "at most" alleged negligence rather than intent to defraud. They also said claims they "failed to stop" fraud sooner have never justified securities fraud claims in New York federal courts.
All three banks have reported nine-figure losses from Tricolor.
In December, Tricolor Chief Executive Daniel Chu and former Tricolor Chief Operating Officer David Goodgame were indicted in Manhattan for allegedly systematically defrauding creditors and lenders, including by falsifying loan data and double-pledging collateral. Both pleaded not guilty.
Reporting by Jonathan Stempel in New York; Editing by Mark Porter
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Fifth Third Bancorp was invited to join Anthropic’s Project Glasswing cybersecurity initiative, Seeking Alpha reported Wednesday (June 10).
The bank’s chief financial officer, Bryan Preston, said at the Morgan Stanley U.S. Financials Conference that Fifth Third was granted access to the initiative within the past several weeks, according to the report.
“We think it was a reflection of just the role we play in the payments ecosystem in the country today, whether it’s the Direct Express business, some of the processing that we do for U.S. Customs as well as just the magnitude of payroll processing that we do for the country,” Preston said, per the report.
Direct Express is the U.S. Treasury Department’s prepaid debit card program that helps Americans get monthly federal benefits. Fifth Third Bank was selected by the Treasury Department to expand the program, and the bank inked a five-year agreement to serve as the financial agent for the program in September, PYMNTS reported at the time.
Anthropic introduced Project Glasswing in April when it announced the limited release of its first Mythos-class AI model, Claude Mythos Preview. The company said the initiative would offer select partners early access to the model so they could use the model’s cybersecurity capabilities to strengthen their systems before this class of models was more widely released.
By May 22, Anthropic reported that Claude Mythos Preview had identified more than 10,000 cybersecurity vulnerabilities in “the most systemically important software in the world” so that they could be patched.
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On June 2, Anthropic said it was expanding Project Glasswing. The company said that the cybersecurity effort initially gave around 50 organizations access to Claude Mythos Preview and that it was being expanded to include 150 organizations.
When Anthropic announced Tuesday (June 9) that it launched two Mythos-class models after developing safeguards to prevent them from being misused, the company said that one of them, Claude Mythos 5, would initially be released only through Project Glasswing in collaboration with the U.S. government.
Fifth Third said Feb. 2 that it became the ninth-largest U.S. bank by assets that day when the merger between Fifth Third Bancorp and Comerica closed.
Fifth Third Bancorp was invited to join Anthropic’s Project Glasswing cybersecurity initiative, Seeking Alpha reported Wednesday (June 10).
The bank’s chief financial officer, Bryan Preston, said at the Morgan Stanley U.S. Financials Conference that Fifth Third was granted access to the initiative within the past several weeks, according to the report.
“We think it was a reflection of just the role we play in the payments ecosystem in the country today, whether it’s the Direct Express business, some of the processing that we do for U.S. Customs as well as just the magnitude of payroll processing that we do for the country,” Preston said, per the report.
Direct Express is the U.S. Treasury Department’s prepaid debit card program that helps Americans get monthly federal benefits. Fifth Third Bank was selected by the Treasury Department to expand the program, and the bank inked a five-year agreement to serve as the financial agent for the program in September, PYMNTS reported at the time.
Anthropic introduced Project Glasswing in April when it announced the limited release of its first Mythos-class AI model, Claude Mythos Preview. The company said the initiative would offer select partners early access to the model so they could use the model’s cybersecurity capabilities to strengthen their systems before this class of models was more widely released.
By May 22, Anthropic reported that Claude Mythos Preview had identified more than 10,000 cybersecurity vulnerabilities in “the most systemically important software in the world” so that they could be patched.
Advertisement: Scroll to Continue
On June 2, Anthropic said it was expanding Project Glasswing. The company said that the cybersecurity effort initially gave around 50 organizations access to Claude Mythos Preview and that it was being expanded to include 150 organizations.
When Anthropic announced Tuesday (June 9) that it launched two Mythos-class models after developing safeguards to prevent them from being misused, the company said that one of them, Claude Mythos 5, would initially be released only through Project Glasswing in collaboration with the U.S. government.
Fifth Third said Feb. 2 that it became the ninth-largest U.S. bank by assets that day when the merger between Fifth Third Bancorp and Comerica closed.
CINCINNATI--(BUSINESS WIRE)--Fifth Third (NASDAQ: FITB) announced that it will expand its industry-first free wills program to hundreds of thousands of additional customers when it completes the integration of Comerica in September, building on strong first-year adoption that has already helped protect an estimated $10 billion in estate value.
The groundbreaking program—delivered in partnership with Trust & Will—has prompted more than 39,000 customers to create wills and 3,000 to establish trusts, saving customers an estimated $12.6 million since launching in May 2025. The program has demonstrated strong engagement, with a nearly 65% completion rate from registration to finalized wills — significantly exceeding typical digital completion benchmarks and underscoring customer demand for simpler estate planning solutions embedded in trusted financial relationships.
Fifth Third remains the only U.S. bank to offer free, attorney-approved wills to its entire customer base. The free wills benefit will extend to hundreds of thousands of additional customers, including in Texas, Arizona, and California, as Comerica customers gain access to the full range of Fifth Third’s digital offerings in September, further scaling the program’s reach and impact.
“Helping people protect what matters most is core to who we are as a bank,” said Erin Crawford, VP, head of Consumer Digital, Payments and Money Management, Fifth Third. “By making wills free and easy to create, we’re removing barriers and giving families the tools to plan ahead with confidence—not just manage their finances.”
The effort is helping close a persistent financial planning gap, as more than half of Americans still lack basic estate documents. Without basic estate documents, families can face lengthy probate delays, significant legal costs, and frozen assets during already difficult times. Fifth Third’s approach helps customers take proactive steps to protect their families and reduce future stress.
“Fifth Third set out to do something no other bank had done—make estate planning a standard part of financial wellness,” said Cody Barbo, co‑founder and CEO of Trust & Will. “By offering free wills to every customer, they removed one of the biggest barriers families face and helped tens of thousands of people protect what they’ve worked hard to build. This partnership shows what’s possible when a trusted financial institution leads with access, simplicity, and purpose.”
Fifth Third customers can begin creating their free will or explore trust options by visiting 53.com/trustandwill.
About Fifth Third
Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere’s World’s Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.
Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at www.53.com. Deposit and credit products provided by Fifth Third Bank, National Association. Member FDIC.
About Trust & Will
Founded in 2017, Trust & Will is the leading digital estate planning platform in the U.S., trusted by over one million families. Our simple, secure, and attorney-approved online solutions empower Americans to create wills, trusts, healthcare directives, and other essential estate planning documents tailored to state-specific laws. As a certified B Corporation, our mission to help every family leave a meaningful legacy is embedded into our business model, ensuring estate planning is accessible, affordable, and inclusive for all.
Trust & Will is advancing modern legacy planning with AI-driven innovation, helping families and professionals simplify complex decisions and accelerate collaborative workflows. Our platform supports 26,000+ financial advisors and 145+ enterprise partners, including banks, financial institutions, attorneys, nonprofits, real estate agents, and technology platforms. Notable partners include AARP, Fifth Third Bank, UBS, USAA, LPL Financial, and Northwestern Mutual. With more than one million users and over $300 billion in self-reported estate assets, Trust & Will is redefining estate planning as a strategic pillar of modern financial wellness.
Trust & Will has been consistently recognized for innovation and leadership. In 2026 alone, the company was named to Fast Company's World's Most Innovative Companies, the Financial Times' Americas' Fastest-Growing Companies, the Inc. Regionals: Fastest-Growing Private Companies, Forbes' America's Best Startup Employers, and received the FinTech Breakthrough Award for Personal Finance Product of the Year. The company has also earned spots on the CNBC Disruptor 50, Inc. 5000, and Deloitte Technology Fast 500™ lists, and was named a winner at the 2025 Wealth Management ("Wealthies") and ThinkAdvisor Luminaries awards, and recognized as a "Rising Star in Estate Planning" in the 2025 Kitces Research on Advisor Technology report.
CINCINNATI--(BUSINESS WIRE)--Today, Fifth Third Bancorp announced the declaration of cash dividends on its common shares, Series H preferred shares, Series I preferred shares, Series J preferred shares, Series K preferred shares, Series M preferred shares, and Class B Series A preferred shares.
Fifth Third Bancorp (Nasdaq: FITB) today declared a cash dividend on its common shares of $0.40 per share for the second quarter of 2026. The dividend is payable on July 15, 2026 to shareholders of record as of June 30, 2026.
Fifth Third also declared a cash dividend on its 5.10% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series H (3 month Term SOFR plus 3.033% plus 0.26161% [the ARRC-recommended LIBOR-SOFR spread adjustment] per preferred share), at the rate of $442.0325 per preferred share, which equates to approximately $17.6813 for each depositary share. Each depositary share represents a 1/25th ownership interest in a share of Series H Preferred Stock. The Series H dividend is payable on June 30, 2026 to shareholders of record as of June 26, 2026.
Fifth Third also declared a cash dividend on its 6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series I (3 month Term SOFR plus 3.71% plus 0.26161% [the ARRC-recommended LIBOR-SOFR spread adjustment] per preferred share; Nasdaq: FITBI), at the rate of $484.8025 per preferred share, which equates to approximately $0.4848 for each depositary share. Each depositary share represents a 1/1000th ownership interest in a share of Series I Preferred Stock. The Series I dividend is payable on June 30, 2026 to shareholders of record as of June 26, 2026.
Fifth Third also declared a cash dividend on its 4.90% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series J (3 month Term SOFR plus 3.129% plus 0.26161% [the ARRC-recommended LIBOR-SOFR spread adjustment] per preferred share), at the rate of $448.1750 per preferred share, which equates to approximately $17.9270 for each depositary share. Each depositary share represents a 1/25th ownership interest in a share of Series J Preferred Stock. The Series J dividend is payable on June 30, 2026 to shareholders of record as of June 26, 2026.
Fifth Third also declared a cash dividend on its 4.95% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series K (Nasdaq: FITBO), at the rate of $309.375 per preferred share, which equates to approximately $0.30938 for each depositary share. Each depositary share represents a 1/1000th ownership interest in a share of Series K Preferred Stock. The Series K dividend is payable on June 30, 2026 to shareholders of record as of June 26, 2026.
Fifth Third also declared a cash dividend on its 6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series M (Nasdaq: FITBM), at the rate of $17.1875 per preferred share, which equates to approximately $0.42969 for each depositary share. Each depositary share represents a 1/40th ownership interest in a share of Series M Preferred Stock. The Series M dividend is payable on July 1, 2026 to shareholders of record as of June 26, 2026.
Fifth Third also declared a cash dividend on its 6.00% Non-Cumulative Perpetual Class B Preferred Stock, Series A (Nasdaq: FITBP), at the rate of $15.00 per preferred share, which equates to approximately $0.3750 for each depositary share. Each depositary share represents a 1/40th ownership interest in a share of Class B Series A Preferred Stock. The Class B Series A dividend is payable on June 30, 2026 to shareholders of record as of June 26, 2026.
About Fifth Third
Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people, and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World’s Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.
Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol “FITB.” Investor information and press releases can be viewed at www.53.com.
