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, /PRNewswire/ -- Fulton Financial Corporation ("Fulton") (Nasdaq: FULT) today announced that its Board of Directors (the "Board") declared a quarterly cash dividend of nineteen cents per share on its common stock, payable on April 15, 2026, to shareholders of record as of April 1, 2026.

In addition, Fulton announced that the Board declared a quarterly dividend of $12.81 per share (equivalent to $0.32025 per depositary share) on its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, payable on April 15, 2026, to shareholders of record as of March 31, 2026, for the period from and including January 15, 2026, to but excluding, April 15, 2026.

Fulton, a more than $32 billion Lancaster, Pennsylvania-based financial holding company, has more than 3,300 employees and operates more than 200 financial centers in Pennsylvania, New Jersey, Maryland, Delaware and Virginia through Fulton Bank, N.A.

Additional information on Fulton can be found at investor.fultonbank.com.

Media:
Rachel Sharkey (717) 291-2831

Investors:
Patrick Lafferty (717) 327-2556

SOURCE Fulton Financial Corporation

Posted by Defense World Staff on Apr 1st, 2026

Econ Financial Services Corp purchased a new position in Fulton Financial Corporation (NASDAQ:FULT – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 104,389 shares of the bank’s stock, valued at approximately $2,018,000. Econ Financial Services Corp owned approximately 0.06% of Fulton Financial at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in Fulton Financial by 373.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the bank’s stock worth $30,000 after purchasing an additional 1,311 shares in the last quarter. State of Wyoming bought a new position in Fulton Financial in the 2nd quarter valued at $30,000. Parallel Advisors LLC grew its position in shares of Fulton Financial by 69.0% during the 3rd quarter. Parallel Advisors LLC now owns 1,903 shares of the bank’s stock valued at $35,000 after purchasing an additional 777 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Fulton Financial by 48.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,995 shares of the bank’s stock valued at $38,000 after purchasing an additional 647 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Fulton Financial in the third quarter worth $38,000. 72.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets A number of brokerages recently issued reports on FULT. Weiss Ratings upgraded Fulton Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 27th. DA Davidson initiated coverage on Fulton Financial in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $24.00 target price on the stock. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $21.50.

View Our Latest Stock Analysis on Fulton Financial

Fulton Financial Trading Up 3.5% Shares of Fulton Financial stock opened at $20.34 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.90 and a quick ratio of 0.90. Fulton Financial Corporation has a 1 year low of $14.32 and a 1 year high of $22.99. The firm has a market cap of $3.66 billion, a PE ratio of 9.78 and a beta of 0.85. The company has a 50 day simple moving average of $20.83 and a two-hundred day simple moving average of $19.45.

Fulton Financial (NASDAQ:FULT – Get Free Report) last issued its quarterly earnings results on Wednesday, January 21st. The bank reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The firm had revenue of $336.02 million for the quarter, compared to analyst estimates of $336.80 million. Fulton Financial had a net margin of 20.68% and a return on equity of 12.78%. During the same quarter in the prior year, the firm earned $0.48 EPS. Analysts expect that Fulton Financial Corporation will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, April 1st. Fulton Financial’s dividend payout ratio is currently 36.54%.

Fulton Financial declared that its Board of Directors has authorized a share buyback plan on Tuesday, December 16th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the bank to repurchase up to 4.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the firm’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $19.55, for a total transaction of $97,750.00. Following the sale, the director owned 85,477 shares in the company, valued at $1,671,075.35. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.07% of the stock is owned by insiders.

Fulton Financial Profile (Free Report)

Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial’s offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.

Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.

Featured Articles Five stocks we like better than Fulton Financial Want to see what other hedge funds are holding FULT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fulton Financial Corporation (NASDAQ:FULT – Free Report).

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, /PRNewswire/ -- Fulton Financial Corporation ("Fulton") (Nasdaq: FULT) today announced that it will distribute its first quarter 2026 earnings release and accompanying charts on Wednesday, April 22, at approximately 4:30 p.m. Eastern Time.

Fulton will host a conference call with analysts on Thursday, April 23, at 10 a.m. Eastern Time. Curtis J. Myers, Chairman, CEO and President, will host the call. He will be joined by Rick Kraemer, Senior Executive Vice President and CFO.

The link to the webcast of this call can be found at https://investor.fultonbank.com. Participants can also access the audio-only webcast at: https://edge.media-server.com/mmc/p/jqjdbt8g.

Fulton, a $34 billion Lancaster, Pa.-based financial holding company, has more than 3,500 employees and operates more than 200 financial centers in Pennsylvania, New Jersey, Maryland, Delaware and Virginia through Fulton Bank, N.A. and Blue Foundry Bank. Additional information on Fulton can be found at https://investor.fultonbank.com.

Media Contact: Rachel Sharkey (717) 291-2831
Investor Contact: Patrick Lafferty (717) 327-2556

SOURCE Fulton Financial Corporation

Posted by Defense World Staff on Apr 4th, 2026

SG Americas Securities LLC boosted its stake in shares of Fulton Financial Corporation (NASDAQ:FULT – Free Report) by 28.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 138,588 shares of the bank’s stock after acquiring an additional 30,512 shares during the quarter. SG Americas Securities LLC owned approximately 0.08% of Fulton Financial worth $2,679,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FULT. First Trust Advisors LP lifted its position in shares of Fulton Financial by 0.4% during the third quarter. First Trust Advisors LP now owns 5,646,713 shares of the bank’s stock worth $105,198,000 after purchasing an additional 19,855 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Fulton Financial by 25.3% in the third quarter. American Century Companies Inc. now owns 3,583,100 shares of the bank’s stock valued at $66,753,000 after purchasing an additional 723,948 shares in the last quarter. Fisher Asset Management LLC raised its position in Fulton Financial by 6.4% in the 3rd quarter. Fisher Asset Management LLC now owns 3,363,509 shares of the bank’s stock worth $62,662,000 after purchasing an additional 203,708 shares during the last quarter. Norges Bank bought a new position in Fulton Financial in the 2nd quarter worth approximately $37,813,000. Finally, Fulton Bank N.A. lifted its holdings in Fulton Financial by 1.6% during the 3rd quarter. Fulton Bank N.A. now owns 1,732,904 shares of the bank’s stock worth $32,284,000 after buying an additional 27,570 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

Insider Activity In other news, Director E Philip Wenger sold 5,000 shares of the company’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $19.55, for a total value of $97,750.00. Following the completion of the sale, the director directly owned 85,477 shares of the company’s stock, valued at $1,671,075.35. This represents a 5.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.08% of the company’s stock.

Fulton Financial Stock Performance Shares of Fulton Financial stock opened at $20.53 on Friday. The firm has a fifty day moving average of $20.83 and a two-hundred day moving average of $19.47. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 9.87 and a beta of 0.81. Fulton Financial Corporation has a 52 week low of $14.32 and a 52 week high of $22.99.

Fulton Financial (NASDAQ:FULT – Get Free Report) last posted its quarterly earnings results on Wednesday, January 21st. The bank reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.03. Fulton Financial had a return on equity of 12.78% and a net margin of 20.68%.The business had revenue of $336.02 million for the quarter, compared to analyst estimates of $336.80 million. During the same period last year, the company earned $0.48 EPS. As a group, equities research analysts predict that Fulton Financial Corporation will post 1.91 EPS for the current year.

Fulton Financial declared that its Board of Directors has initiated a share buyback plan on Tuesday, December 16th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the bank to reacquire up to 4.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Fulton Financial Dividend Announcement The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be issued a dividend of $0.19 per share. The ex-dividend date is Wednesday, April 1st. This represents a $0.76 dividend on an annualized basis and a yield of 3.7%. Fulton Financial’s dividend payout ratio (DPR) is 36.54%.

Analysts Set New Price Targets A number of research firms have recently weighed in on FULT. DA Davidson initiated coverage on Fulton Financial in a research report on Wednesday, February 25th. They set a “neutral” rating and a $24.00 target price for the company. Weiss Ratings upgraded Fulton Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 27th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $21.50.

Read Our Latest Report on FULT

Fulton Financial Company Profile (Free Report)

Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial’s offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.

Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.

See Also Five stocks we like better than Fulton Financial

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, /PRNewswire/ -- Fulton Financial Corporation (NASDAQ: FULT) ("Fulton" or the "Corporation") reported net income available to common shareholders of $92.2 million, or $0.51 per diluted share, for the first quarter of 2026, a decrease of $4.2 million in comparison to the fourth quarter of 2025. Operating net income available to common shareholders for the three months ended March 31, 2026 was $99.7 million(1), or $0.55 per diluted share(1), an increase of $0.3 million in comparison to the fourth quarter of 2025.

Fulton Financial Corporation "Our first quarter results reflect steady, solid profitability driven by disciplined execution of our strategy," said Fulton Chairman, CEO, and President, Curtis J. Myers. "The Blue Foundry Bancorp acquisition expands our presence in northern New Jersey and meaningfully advances our business objectives. We are pleased to welcome Blue Foundry Bank's team members and customers to Fulton. Our focus now turns to a seamless integration, a smooth customer transition, and the continued delivery of positive operating leverage and successful strategic outcomes."

Financial Highlights

First quarter of 2026 operating results of $0.55 per diluted share(1) were impacted by the following items:

Net interest margin remained solid at 3.58%, representing a one basis point decline from the prior quarter. Non-interest income decreased $0.1 million to $69.8 million compared to $70.0 million in the prior quarter. Non-interest expense decreased $12.7 million to $200.3 million compared to $213.0 million in the prior quarter. Operating non-interest expense decreased $13.4 million to $190.7 million(1) compared to $204.1 million in the prior quarter. Provision for credit losses was $14.4 million resulting in an allowance for credit losses attributable to net loans of $367.5 million, or 1.51% of total net loans as of March 31, 2026. Common equity tier 1 capital ratio(2) increased to approximately 11.9% compared to 11.8% in the prior quarter. During the first quarter of 2026, 1,212,650 shares of the Corporation's common stock were repurchased under the 2026 Repurchase Program(3) at a cost of $24.5 million or an average of $20.21 per share. The following items highlight notable changes in the components of net income in the first quarter of 2026 compared to the fourth quarter of 2025:

Net interest income decreased $4.0 million to $262.0 million. A $10.1 million decrease in interest income on net loans and a $2.2 million decrease in interest income on investment securities were partially offset by an $8.6 million decrease in interest expense on deposits. Purchase loan mark accretion from loans acquired in the Republic Acquisition(4) was $10.3 million in the first quarter of 2026 compared to $10.5 million in the prior quarter. Non-interest income before investment securities gains (losses) was $69.8 million compared to $70.0 million in the prior quarter. The $0.1 million decrease was primarily due to decreases of     $1.3 million in commercial banking fee income and $1.3 million in consumer banking fee income mainly attributable to two less days in the first quarter and seasonality, partially offset by a $1.3 million increase in income from equity method investments, reflected in other income, and a $0.6 million increase in wealth management revenues. Non-interest expense was $200.3 million compared to $213.0 million in the prior quarter. The $12.7 million decrease in non-interest expense was primarily due to a $11.7 million decrease in salaries and employee benefits expense primarily due to a $11.3 million decrease in incentive compensation expense. Acquisition-related expense associated with the Blue Foundry Bancorp transaction(5) was $2.6 million compared to $0.8 million in the prior quarter. Balance Sheet Summary

Total net loans increased $121.5 million to $24.3 billion compared to $24.1 billion as of December 31, 2025. The increase was primarily due to increases of $78.7 million in consumer loans(6) and $42.7 million in commercial loans(6) which included an opportunistic purchase of an in-market commercial loan portfolio. Deposits totaled $26.8 billion, a $178.9 million increase compared to $26.6 billion as of December 31, 2025. The increase was primarily due to increases of $362.4 million in savings deposits and $78.8 million in noninterest-bearing demand deposits, partially offset by decreases of $146.5 million in interest-bearing demand deposits and $139.2 million in brokered deposits. Provision for Credit Losses and Asset Quality

The provision for credit losses totaled $14.4 million in the first quarter of 2026, resulting in a  $367.5 million allowance for credit losses attributable to net loans, or 1.51% of total net loans as of March 31, 2026, compared to $364.5 million, or 1.51% of total net loans as of December 31, 2025. Non-performing assets were $177.5 million, or 0.55% of total assets, as of March 31, 2026, in comparison to $185.2 million, or 0.58% of total assets, as of December 31, 2025. Annualized net charge-offs for the first quarter of 2026 were 0.25% of total average loans in comparison to 0.24% in the prior quarter. Additional information on Fulton is available on the Internet at www.fultonbank.com.

(1)

Financial measure derived by methods other than generally accepted accounting principles ("GAAP"). Refer to the calculation on the page titled "Reconciliation of Non-GAAP Measures" at the end of the press release.

(2)

Regulatory capital ratios as of March 31, 2026, are preliminary estimates and prior periods are actual.

(3)

The 2026 Repurchase Program represents the authorization, commencing on January 1, 2026 and expiring on January 31, 2027, to repurchase up to $150 million, excluding fees, commissions, excise tax and other ancillary expenses, of the Corporation's common stock. Under this authorization, up to $25 million of the $150 million authorization may be used to repurchase the Corporation's preferred stock, outstanding subordinated notes due 2030 or outstanding subordinated notes due 2035. As permitted by securities laws and other legal requirements and subject to market conditions and other factors, purchases may be made from time to time under the 2026 Repurchase Program in open market or privately negotiated transactions, including without limitation, through accelerated share repurchase transactions. The 2026 Repurchase Program may be discontinued at any time.

(4)

On April 26, 2024, the Corporation announced that its wholly owned banking subsidiary, Fulton Bank, National Association ("Fulton Bank"),      acquired substantially all of the assets and assumed substantially all of the deposits and certain liabilities of Republic First Bank, doing     business as Republic Bank ("Republic Bank"), from the Federal Deposit Insurance Corporation (the "FDIC"), as receiver for Republic Bank (the "Republic Acquisition"), pursuant to the terms of the Purchase and Assumption Agreement - Whole Bank, All Deposits, effective as of April 26, 2024 among the FDIC, as receiver of Republic Bank, the FDIC and Fulton Bank.

(5)

On November 24, 2025, the Corporation announced that it had entered into an Agreement and Plan of Merger (the "Merger Agreement") by and between the Corporation and Blue Foundry Bancorp, a Delaware corporation ("Blue Foundry"), pursuant to which, upon the terms and subject to the conditions set forth in the Merger Agreement, (i) Blue Foundry will merge with and into the Corporation (the "Merger"), with the Corporation surviving the Merger and (ii) following the Merger, Blue Foundry Bank, a New Jersey-chartered stock savings bank and wholly owned subsidiary of Blue Foundry, will merge with and into Fulton Bank, a national banking association and wholly owned subsidiary of the Corporation, with Fulton Bank continuing as the surviving bank. Effective April 1, 2026, the Corporation completed the Merger. Following the Merger, Blue Foundry Bank will operate as a separate, wholly owned subsidiary of the Corporation until Blue Foundry Bank merges with and into Fulton Bank, which is expected to occur during the summer of 2026 around the time of systems conversion.

(6)

Commercial loans include real estate - commercial mortgage, commercial and industrial, leases and other loans and includes a decrease in commercial construction loans of $96.1 million, reflected in real estate - construction. Consumer loans include real estate - residential mortgage, real estate - home equity, consumer and includes an increase of $2.3 million in residential construction loans, reflected in real estate - construction.

Note: Some numbers contained in this document may not sum due to rounding.

Safe Harbor Statement

This press release may contain forward-looking statements with respect to the Corporation's financial condition, results of operations and business. Do not unduly rely on forward-looking statements. Forward-looking statements can be identified by the use of words such as "may," "should," "will," "could," "estimates," "predicts," "potential," "continue," "anticipates," "believes," "plans," "expects," "future," "intends," "projects," the negative of these terms and other comparable terminology. These forward-looking statements may include projections of, or guidance on, the Corporation's future financial performance, expected levels of future expenses, including future credit losses, anticipated growth strategies, descriptions of new business initiatives and anticipated trends in the Corporation's business or financial results.

Forward-looking statements are neither historical facts, nor assurance of future performance. Instead, the statements are based on current beliefs, expectations and assumptions regarding the future of the Corporation's business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Corporation's control, and actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not unduly rely on any of these forward-looking statements. Any forward-looking statement is based only on information currently available and speaks only as of the date when made. The Corporation undertakes no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

A discussion of certain risks and uncertainties affecting the Corporation, and some of the factors that could cause the Corporation's actual results to differ materially from those described in the forward-looking statements, can be found in the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Corporation's Annual Report on Form 10-K for the year ended December 31, 2025 and other current and periodic reports, which have been, or will be, filed with the Securities and Exchange Commission (the "SEC") and are, or will be, available in the Investor Relations section of the Corporation's website (www.fultonbank.com) and on the SEC's website (www.sec.gov).

Non-GAAP Financial Measures

The Corporation uses certain financial measures in this press release that have been derived from methods other than GAAP. These non-GAAP financial measures are reconciled to the most comparable GAAP measures in tables at the end of this press release.

FULTON FINANCIAL CORPORATION

SUMMARY CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED)

(dollars in thousands, except per share and shares data)

Three months ended

Mar 31

Dec 31

Sep 30

Jun 30

Mar 31

2026

2025

2025

2025

2025

Ending Balances

Investment securities(1)

$  4,861,967

$  4,833,744

$  5,045,270

$  5,093,027

$  5,071,323

Net loans

24,266,345

24,144,884

24,041,489

24,012,539

23,862,574

Total assets

32,237,438

32,118,400

31,995,086

32,040,448

32,132,028

Deposits

26,768,335

26,589,407

26,332,490

26,138,067

26,328,972

Shareholders' equity

3,505,283

3,490,447

3,413,598

3,329,246

3,274,321

Average Balances

Investment securities(1)

4,785,276

4,921,669

5,025,072

5,084,371

4,906,952

Net loans

24,225,655

24,053,089

24,020,322

23,899,743

24,006,863

Total assets

31,999,228

32,013,163

31,924,038

31,901,574

31,971,601

Deposits

26,451,094

26,537,659

26,298,680

26,125,602

26,169,883

Shareholders' equity

3,543,911

3,464,539

3,361,368

3,304,015

3,254,125

Income Statement

Net interest income

262,023

266,042

264,198

254,921

251,187

Provision for credit losses

14,442

2,948

10,245

8,607

13,898

Non-interest income

69,841

69,980

70,407

69,148

67,232

Non-interest expense

200,294

212,986

196,574

192,811

189,460

Income before taxes

117,128

120,088

127,786

122,651

115,061

Net income available to common

shareholders

92,199

96,408

97,892

96,636

90,425

Per Share

Net income available to common

shareholders (basic)

$0.51

$0.53

$0.54

$0.53

$0.50

Net income available to common

shareholders (diluted)

$0.51

$0.53

$0.53

$0.53

$0.49

Operating net income available to common

shareholders(2)

$0.55

$0.55

$0.55

$0.55

$0.52

Cash dividends

$0.19

$0.19

$0.18

$0.18

$0.18

Common shareholders' equity

$18.52

$18.33

$17.81

$17.20

$16.91

Common shareholders' equity (tangible)(2)

$15.12

$14.92

$14.39

$13.78

$13.46

Weighted average shares (basic)

179,720

180,405

181,658

182,261

182,179

Weighted average shares (diluted)

181,655

182,197

183,349

183,813

184,077

(1) Includes related unrealized holding gains (losses) for available for sale ("AFS") securities.

(2) Non-GAAP financial measure. Refer to the calculation on the page titled "Reconciliation of Non-GAAP Measures" at the end of this press release.

Three months ended

Mar 31

Dec 31

Sep 30

Jun 30

Mar 31

2026

2025

2025

2025

2025

Asset Quality

Net charge-offs to average loans (annualized)

0.25 %

0.24 %

0.18 %

0.20 %

0.21 %

Non-performing loans to total net loans

0.72 %

0.76 %

0.83 %

0.89 %

0.82 %

Non-performing assets to total assets

0.55 %

0.58 %

0.63 %

0.67 %

0.62 %

ACL - loans(1) to total loans

1.51 %

1.51 %

1.57 %

1.57 %

1.59 %

ACL - loans(1) to non-performing loans

209 %

198 %

189 %

177 %

193 %

Profitability

Return on average assets

1.20 %

1.23 %

1.25 %

1.25 %

1.18 %

Operating return on average assets(2)

1.30 %

1.27 %

1.29 %

1.30 %

1.25 %

Return on average common shareholders'

equity

11.16 %

11.69 %

12.26 %

12.46 %

11.98 %

Operating return on average common

shareholders' equity (tangible)(2)

14.76 %

14.86 %

15.79 %

16.26 %

15.95 %

Net interest margin

3.58 %

3.59 %

3.57 %

3.47 %

3.43 %

Efficiency ratio(2)

56.7 %

60.0 %

56.5 %

57.1 %

56.7 %

Non-interest expense to total average assets

2.54 %

2.64 %

2.44 %

2.42 %

2.40 %

Operating non-interest expense to total

average assets(2)

2.42 %

2.53 %

2.38 %

2.36 %

2.32 %

Capital Ratios(3)

Tangible common equity ratio ("TCE")(2)

8.6 %

8.5 %

8.3 %

8.0 %

7.8 %

Tier 1 leverage ratio

9.9 %

9.7 %

9.6 %

9.4 %

9.2 %

Common equity Tier 1 capital ratio

11.9 %

11.8 %

11.6 %

11.3 %

11.1 %

Tier 1 risk-based capital ratio

12.7 %

12.6 %

12.4 %

12.1 %

11.9 %

Total risk-based capital ratio

15.1 %

15.2 %

15.0 %

14.7 %

14.5 %

(1) "ACL - loans" relates to the allowance for credit losses ("ACL") specifically on "Net Loans" and does not include the ACL related to off-balance-sheet

    ("OBS") credit exposures.

(2) Non-GAAP financial measure. Refer to the calculation on the page titled "Reconciliation of Non-GAAP Measures" at the end of this press release.

(3) Regulatory capital ratios as of March 31, 2026 are preliminary estimates and prior periods are actual.

FULTON FINANCIAL CORPORATION

CONDENSED CONSOLIDATED ENDING BALANCE SHEETS (UNAUDITED)

(dollars in thousands)

Mar 31

Dec 31

Sep 30

Jun 30

Mar 31

2026

2025

2025

2025

2025

ASSETS

Cash and due from banks

$    311,796

$    271,463

$    307,267

$    362,280

$    388,503

Other interest-earning assets

871,066

911,155

643,111

583,899

778,117

Loans held for sale

11,887

16,316

19,875

23,281

15,965

Investment securities

4,861,967

4,833,744

5,045,270

5,093,027

5,071,323

Net loans

24,266,345

24,144,884

24,041,489

24,012,539

23,862,574

Less: ACL - loans(1)

(367,489)

(364,462)

(376,258)

(377,337)

(379,677)

   Loans, net

23,898,856

23,780,422

23,665,231

23,635,202

23,482,897

Net premises and equipment

168,941

175,240

178,644

184,290

186,873

Accrued interest receivable

112,083

113,698

114,003

117,130

116,215

Goodwill and intangible assets

607,647

612,996

618,361

623,729

629,189

Other assets

1,393,195

1,403,366

1,403,324

1,417,610

1,462,946

    Total Assets

$ 32,237,438

$ 32,118,400

$ 31,995,086

$ 32,040,448

$ 32,132,028

LIABILITIES AND SHAREHOLDERS' EQUITY

Deposits

$ 26,768,335

$ 26,589,407

$ 26,332,490

$ 26,138,067

$ 26,328,972

Borrowings

1,252,579

1,297,375

1,471,961

1,773,900

1,657,200

Other liabilities

711,241

741,171

777,037

799,235

871,535

    Total Liabilities

28,732,155

28,627,953

28,581,488

28,711,202

28,857,707

Shareholders' equity

3,505,283

3,490,447

3,413,598

3,329,246

3,274,321

   Total Liabilities and Shareholders' Equity

$ 32,237,438

$ 32,118,400

$ 31,995,086

$ 32,040,448

$ 32,132,028

LOANS, DEPOSITS AND BORROWINGS DETAIL:

Loans, by type:

Real estate - commercial mortgage

$  9,985,368

$  9,820,944

$  9,734,156

$  9,678,038

$  9,676,517

Commercial and industrial

4,494,031

4,539,060

4,437,905

4,541,765

4,531,266

Real estate - residential mortgage

6,735,338

6,669,993

6,617,017

6,511,687

6,409,657

Real estate - home equity

1,253,192

1,242,831

1,214,399

1,193,410

1,170,470

Real estate - construction

876,498

970,298

1,134,748

1,155,099

1,175,445

Consumer

565,041

564,349

566,291

583,949

597,305

Leases and other loans(2)

356,877

337,409

336,973

348,591

301,914

Total Net Loans

$ 24,266,345

$ 24,144,884

$ 24,041,489

$ 24,012,539

$ 23,862,574

Deposits, by type:

Noninterest-bearing demand

$  5,334,920

$  5,256,096

$  5,136,210

$  5,337,771

$  5,435,934

Interest-bearing demand

7,823,683

7,970,188

8,035,393

7,593,083

7,804,388

Savings

8,875,256

8,512,829

8,417,678

8,271,925

8,208,526

     Total demand and savings

22,033,859

21,739,113

21,589,281

21,202,779

21,448,848

Brokered

715,850

855,042

709,667

817,398

738,458

Time

4,018,626

3,995,252

4,033,542

4,117,890

4,141,666

Total Deposits

$ 26,768,335

$ 26,589,407

$ 26,332,490

$ 26,138,067

$ 26,328,972

Borrowings, by type:

Federal Home Loan Bank advances

$    200,000

$    250,000

$    450,000

$    800,000

$    750,000

Senior debt and subordinated debt

367,720

367,637

367,557

367,476

367,396

Other borrowings

684,859

679,738

654,404

606,424

539,804

Total Borrowings

$  1,252,579

$  1,297,375

$  1,471,961

$  1,773,900

$  1,657,200

(1) "ACL - loans" relates to the ACL specifically on "Net Loans" and does not include the ACL related to OBS credit exposures.

(2) Includes equipment lease financing, overdraft and net origination fees and costs.

FULTON FINANCIAL CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

(dollars in thousands, except per share and share data)

Three months ended

Mar 31

Dec 31

Sep 30

Jun 30

Mar 31

2026

2025

2025

2025

2025

Net Interest Income:

Interest income

$ 390,056

$ 403,416

$ 411,006

$ 402,761

$ 399,692

Interest expense

128,033

137,374

146,808

147,840

148,505

    Net Interest Income

262,023

266,042

264,198

254,921

251,187

Provision for credit losses

14,442

2,948

10,245

8,607

13,898

    Net Interest Income after Provision

247,581

263,094

253,953

246,314

237,289

Non-Interest Income:

Wealth management

24,496

23,879

22,639

22,281

21,785

Commercial banking:

   Merchant and card

6,343

6,847

7,327

7,376

6,591

   Cash management

8,363

8,374

8,335

8,376

7,799

   Capital markets

3,614

3,730

2,908

2,945

2,411

   Other commercial banking

4,486

5,162

4,595

4,734

4,528

Total commercial banking

22,806

24,113

23,165

23,431

21,329

Consumer banking:

  Card

7,887

8,366

8,246

7,958

7,544

  Overdraft

3,798

4,109

4,153

3,817

3,295

  Other consumer banking

2,491

2,967

2,775

2,753

2,229

Total consumer banking

14,176

15,442

15,174

14,528

13,068

Mortgage banking

3,955

3,636

3,711

3,991

3,138

Other

4,408

2,910

5,718

4,917

7,914

Non-interest income before investment securities  (losses) gains          

69,841

69,980

70,407

69,148

67,234

Investment securities (losses) gains, net

—

—

—

—

(2)

    Total Non-Interest Income

69,841

69,980

70,407

69,148

67,232

Non-Interest Expense:

Salaries and employee benefits

109,917

121,632

111,265

107,123

103,526

Data processing and software

18,662

19,695

18,535

18,262

18,599

Net occupancy

18,229

17,554

15,954

16,410

18,207

Other outside services

12,750

13,105

12,951

12,009

11,837

Intangible amortization

5,349

5,365

5,368

5,460

6,269

FDIC insurance

4,249

4,540

5,089

4,951

5,597

Equipment

3,924

4,001

3,926

4,100

4,150

Professional fees

2,239

2,088

2,320

2,163

(1,078)

Marketing

2,331

1,694

2,470

2,604

2,521

Acquisition-related expenses

2,644

802

—

—

380

Other

20,000

22,510

18,696

19,729

19,452

    Total Non-Interest Expense

200,294

212,986

196,574

192,811

189,460

    Income Before Income Taxes

117,128

120,088

127,786

122,651

115,061

Income tax expense

22,367

21,118

27,332

23,453

22,074

    Net Income

94,761

98,970

100,454

99,198

92,987

Preferred stock dividends

(2,562)

(2,562)

(2,562)

(2,562)

(2,562)

     Net Income Available to Common  Shareholders

$  92,199

$  96,408

$  97,892

$  96,636

$  90,425

Three months ended

Mar 31

Dec 31

Sep 30

Jun 30

Mar 31

2026

2025

2025

2025

2025

PER SHARE:

Net income available to common shareholders (basic)

$0.51

$0.53

$0.54

$0.53

$0.50

Net income available to common shareholders (diluted)

$0.51

$0.53

$0.53

$0.53

$0.49

Cash dividends

$0.19

$0.19

$0.18

$0.18

$0.18

Weighted average shares (basic)

179,720

180,405

181,658

182,261

182,179

Weighted average shares (diluted)

181,655

182,197

183,349

183,813

184,077

FULTON FINANCIAL CORPORATION

CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)

(dollars in thousands)

Three months ended

March 31, 2026

December 31, 2025

March 31, 2025

Average

Yield/

Average

Yield/

Average

Yield/

Balance

Interest(1)

Rate

Balance

Interest(1)

Rate

Balance

Interest(1)

Rate

ASSETS

Interest-earning assets:

Net loans(2)

$ 24,225,655

$ 341,843

5.70 %

$ 24,053,089

$ 352,014

5.82 %

$ 24,006,863

$ 347,626

5.86 %

Investment securities(3)

5,001,079

44,771

3.58 %

5,159,396

47,007

3.64 %

5,199,000

47,242

3.63 %

Other interest-earning assets

773,171

7,745

4.05 %

820,025

8,811

4.27 %

793,126

9,164

4.67 %

Total Interest-Earning Assets

29,999,905

394,359

5.31 %

30,032,510

407,832

5.40 %

29,998,989

404,032

5.44 %

Noninterest-earning assets:

Cash and due from banks

300,074

284,768

301,897

Premises and equipment

173,203

178,194

191,248

Other assets

1,896,687

1,898,152

1,864,996

Less: ACL - loans(4)

(370,641)

(380,461)

(385,529)

Total Assets

$ 31,999,228

$ 32,013,163

$ 31,971,601

LIABILITIES AND SHAREHOLDERS' EQUITY

Interest-bearing liabilities:

Demand deposits

$ 7,774,121

$  29,036

1.51 %

$ 7,984,980

$  33,831

1.68 %

$ 7,753,586

$  34,189

1.79 %

Savings deposits

8,684,478

44,663

2.09 %

8,519,075

47,219

2.20 %

7,971,728

45,101

2.29 %

Brokered deposits

856,823

8,210

3.89 %

803,755

8,325

4.11 %

904,722

10,038

4.50 %

Time deposits

4,015,644

33,896

3.42 %

3,986,459

34,996

3.48 %

4,127,784

41,564

4.08 %

Total Interest-Bearing Deposits

21,331,066

115,805

2.20 %

21,294,269

124,371

2.32 %

20,757,820

130,892

2.56 %

Borrowings and other interest-bearing

liabilities

1,359,113

12,228

3.65 %

1,345,837

13,003

3.83 %

1,754,900

17,613

4.07 %

Total Interest-Bearing Liabilities

22,690,179

128,033

2.29 %

22,640,106

137,374

2.41 %

22,512,720

148,505

2.67 %

Noninterest-bearing liabilities:

Demand deposits

5,120,028

5,243,390

5,412,063

Other liabilities

645,110

665,128

792,693

Total Liabilities

28,455,317

28,548,624

28,717,476

Total Deposits

26,451,094

1.78 %

26,537,659

1.86 %

26,169,883

2.03 %

Total interest-bearing liabilities and

non-interest bearing deposits (cost of

funds)

27,810,207

1.87 %

27,883,496

1.96 %

27,924,783

2.15 %

Shareholders' equity

3,543,911

3,464,539

3,254,125

Total Liabilities and Shareholders'

Equity

$ 31,999,228

$ 32,013,163

$ 31,971,601

Net interest income/net interest margin

(fully taxable equivalent)

266,326

3.58 %

270,458

3.59 %

255,527

3.43 %

Tax equivalent adjustment

(4,303)

(4,416)

(4,340)

Net Interest Income

$ 262,023

$ 266,042

$ 251,187

(1) Presented on a fully taxable-equivalent basis using a 21% federal tax rate and statutory interest expense disallowances.

(2) Average balances include non-performing loans.

(3) Average balances include amortized historical cost for AFS securities; the related unrealized holding gains (losses) are included in other assets.

(4) ACL - loans relates to the ACL for net loans and does not include the ACL related to OBS credit exposures, which is included in other liabilities.

FULTON FINANCIAL CORPORATION

AVERAGE LOANS, DEPOSITS AND BORROWINGS DETAIL (UNAUDITED)

(dollars in thousands)

Three months ended

Mar 31

Dec 31

Sep 30

Jun 30

Mar 31

2026

2025

2025

2025

2025

Loans, by type:

Real estate - commercial mortgage

$ 9,930,713

$ 9,785,717

$ 9,721,395

$ 9,652,320

$ 9,655,283

Commercial and industrial

4,522,694

4,473,522

4,494,662

4,530,085

4,608,401

Real estate - residential mortgage

6,696,646

6,646,318

6,560,413

6,448,443

6,367,978

Real estate - home equity

1,235,977

1,223,293

1,191,465

1,179,109

1,160,713

Real estate - construction

926,026

1,014,343

1,125,130

1,172,138

1,296,090

Consumer

576,852

577,136

590,658

599,505

615,741

Leases and other loans(1)

336,747

332,760

336,599

318,142

302,657

Total Net Loans

$ 24,225,655

$ 24,053,089

$ 24,020,322

$ 23,899,742

$ 24,006,863

Deposits, by type:

Noninterest-bearing demand

$ 5,120,028

$ 5,243,390

$ 5,239,393

$ 5,303,997

$ 5,412,063

Interest-bearing demand

7,774,121

7,984,980

7,876,227

7,800,881

7,753,586

Savings

8,684,478

8,519,075

8,391,379

8,219,637

7,971,728

     Total demand and savings

21,578,627

21,747,445

21,506,999

21,324,515

21,137,377

Brokered

856,823

803,755

694,486

688,957

904,722

Time

4,015,644

3,986,459

4,097,195

4,112,130

4,127,784

Total Deposits

$ 26,451,094

$ 26,537,659

$ 26,298,680

$ 26,125,602

$ 26,169,883

Borrowings, by type:

Federal funds purchased

$        —

$        54

$        —

$     1,099

$        —

Federal Home Loan Bank advances

221,039

237,880

484,022

712,198

709,367

Senior debt and subordinated debt

367,679

367,598

367,517

367,438

367,357

Other borrowings and other interest-bearing liabilities

770,395

740,305

713,456

675,511

678,176

Total Borrowings

$ 1,359,113

$ 1,345,837

$ 1,564,995

$ 1,756,246

$ 1,754,900

(1) Includes equipment lease financing, overdraft and net origination fees and costs.

FULTON FINANCIAL CORPORATION

ASSET QUALITY INFORMATION (UNAUDITED)

(dollars in thousands)

Three months ended

Mar 31

Dec 31

Sep 30

Jun 30

Mar 31

2026

2025

2025

2025

2025

Allowance for credit losses related to net loans:

Balance at beginning of period

$ 364,462

$ 376,258

$ 377,337

$ 379,677

$ 379,156

Initial allowance for credit losses on purchased loans

3,351

—

—

—

—

Loans charged off:

    Real estate - commercial mortgage

(4,102)

(14,104)

(3,906)

(6,402)

(12,106)

    Commercial and industrial

(10,545)

(5,295)

(5,847)

(5,780)

(3,865)

    Real estate - residential mortgage

(391)

(58)

(394)

(258)

(343)

    Consumer and home equity

(2,164)

(2,212)

(2,527)

(1,885)

(2,193)

    Real estate - construction

—

—

(5,286)

(100)

—

    Leases and other loans(2)

(1,116)

(1,140)

(1,479)

(1,491)

(1,527)

    Total loans charged off

(18,318)

(22,809)

(19,439)

(15,916)

(20,034)

Recoveries of loans previously charged off:

    Real estate - commercial mortgage

701

633

4,307

133

374

    Commercial and industrial

740

6,592

3,205

2,628

5,952

    Real estate - residential mortgage

72

230

33

203

174

    Consumer and home equity

584

861

726

899

660

    Real estate - construction

884

—

47

99

82

    Leases and other loans(2)

429

146

192

240

201

    Total recoveries of loans previously charged off

3,410

8,462

8,510

4,202

7,443

Net loans charged off

(14,908)

(14,347)

(10,929)

(11,714)

(12,591)

Provision for credit losses(1)

14,584

2,551

9,850

9,374

13,112

Balance at end of period

$ 367,489

$ 364,462

$ 376,258

$ 377,337

$ 379,677

Net charge-offs to average loans(3)

0.25 %

0.24 %

0.18 %

0.20 %

0.21 %

Provision for credit losses related to OBS Credit Exposures               

Provision for credit losses(1)

$  (142)

$    397

$    395

$  (767)

$    786

NON-PERFORMING ASSETS:

Non-accrual loans

$ 142,035

$ 153,872

$ 150,137

$ 182,942

$ 162,426

Loans 90 days past due and accruing

33,816

29,924

48,597

29,949

34,367

    Total non-performing loans

175,851

183,796

198,734

212,891

196,793

Other real estate owned

1,648

1,365

2,305

2,706

2,193

Total non-performing assets

$ 177,499

$ 185,161

$ 201,039

$ 215,597

$ 198,986

NON-PERFORMING LOANS, BY TYPE:

Commercial and industrial

$ 47,759

$ 47,756

$ 48,817

$ 45,565

$ 42,913

Real estate - commercial mortgage

64,890

74,981

87,789

90,852

88,081

Real estate - residential mortgage

47,826

45,569

44,689

37,703

46,878

Consumer and home equity

12,339

11,875

12,658

11,109

12,682

Real estate - construction

3,000

2,267

3,461

25,602

3,666

Leases and other loans(2)

37

1,348

1,320

2,060

2,573

Total non-performing loans

$ 175,851

$ 183,796

$ 198,734

$ 212,891

$ 196,793

(1) The sum of these amounts are reflected in the provision for credit losses in the Condensed Consolidated Statements of Income.

(2) Includes equipment lease financing, overdraft and net origination fees and costs.

(3) Quarterly results are annualized.

FULTON FINANCIAL CORPORATION

RECONCILIATION OF NON-GAAP MEASURES (UNAUDITED)

(dollars in thousands, except per share and share data)

Explanatory note:

This press release contains supplemental financial information, as detailed below, that has been derived by

methods other than GAAP. The Corporation has presented these non-GAAP financial measures because it

believes that these measures provide useful and comparative information to assess trends in the Corporation's

results of operations and financial condition. Presentation of these non-GAAP financial measures is consistent

with how the Corporation evaluates its performance internally and these non-GAAP financial measures are

frequently used by securities analysts, investors and other interested parties in the evaluation of companies in

the Corporation's industry. Management believes that these non-GAAP financial measures, in addition to GAAP

measures, are also useful to investors to evaluate the Corporation's results. Investors should recognize that the

Corporation's presentation of these non-GAAP financial measures might not be comparable to similarly titled

measures of other companies. These non-GAAP financial measures should not be considered a substitute for

GAAP basis measures, and the Corporation strongly encourages a review of its condensed consolidated

financial statements in their entirety. Reconciliations of these non-GAAP financial measures to the most directly

comparable GAAP measure follow:

Three months ended

Mar 31

Dec 31

Sep 30

Jun 30

Mar 31

2026

2025

2025

2025

2025

Operating net income available to common shareholders

Net income available to common shareholders

$     92,199

$    96,408

$    97,892

$    96,636

$    90,425

Less: Other (1) 

—

(4,989)

(738)

(9)

(122)

Plus: Core deposit intangible amortization

5,255

5,255

5,255

5,346

6,155

Plus: Acquisition-related expense

2,644

802

—

—

380

Plus: FDIC special assessment

—

(95)

—

—

—

Plus: FultonFirst implementation and asset disposals

1,556

2,795

(207)

(270)

(47)

Less: Tax impact of adjustments

(1,985)

(791)

(905)

(1,064)

(1,337)

Operating net income available to common shareholders (numerator)

$     99,669

$    99,385

$   101,297

$   100,639

$    95,454

Weighted average shares (diluted) (denominator)

181,655

182,197

183,349

183,813

184,077

Operating net income available to common shareholders, per share

(diluted)

$       0.55

$       0.55

$       0.55

$       0.55

$       0.52

Common shareholders' equity (tangible), per share

Shareholders' equity

$  3,505,283

$  3,490,447

$  3,413,598

$  3,329,246

$  3,274,321

Less: Preferred stock

(192,878)

(192,878)

(192,878)

(192,878)

(192,878)

Less: Goodwill and intangible assets

(607,647)

(612,996)

(618,361)

(623,729)

(629,189)

Tangible common shareholders' equity (numerator)

$  2,704,758

$  2,684,573

$  2,602,359

$  2,512,639

$  2,452,254

Shares outstanding, end of period (denominator)

178,843

179,895

180,865

182,379

182,204

Common shareholders' equity (tangible), per share

$      15.12

$      14.92

$      14.39

$      13.78

$      13.46

(1) Includes loan recovery adjustments of $5.0 million and $0.6 million in the fourth quarter of 2025 and the third quarter of 2025, respectively, reflected in the

     provision for credit losses related to a loan acquired in the Republic Acquisition.

Three months ended

Mar 31

Dec 31

Sep 30

Jun 30

Mar 31

2026

2025

2025

2025

2025

Operating return on average assets

Net income

$     94,761

$    98,970

$   100,454

$    99,198

$    92,987

Less: Other (1)

—

(4,989)

(738)

(9)

(122)

Plus: Core deposit intangible amortization

5,255

5,255

5,255

5,346

6,155

Plus: Acquisition-related expense

2,644

802

—

—

380

Plus: FDIC special assessment

—

(95)

—

—

—

Plus: FultonFirst implementation and asset disposals

1,556

2,795

(207)

(270)

(47)

Less: Tax impact of adjustments

(1,985)

(791)

(905)

(1,064)

(1,337)

Operating net income (numerator)

$    102,231

$   101,947

$   103,859

$   103,201

$    98,016

Total average assets

$ 31,999,228

$ 32,013,163

$ 31,924,038

$ 31,901,574

$ 31,971,601

Less: Average net core deposit intangible

(54,629)

(60,726)

(65,999)

(71,282)

(77,039)

Total operating average assets  (denominator)

$ 31,944,599

$ 31,952,437

$ 31,858,039

$ 31,830,292

$ 31,894,562

Operating return on average assets(2)

1.30 %

1.27 %

1.29 %

1.30 %

1.25 %

Operating return on average common shareholders' equity (tangible)

Net income available to common shareholders

$     92,199

$    96,408

$    97,892

$    96,636

$    90,425

Less: Other (1)

—

(4,989)

(738)

(9)

(122)

Plus: Intangible amortization

5,349

5,365

5,368

5,460

6,269

Plus: Acquisition-related expense

2,644

802

—

—

380

Plus: FDIC special assessment

—

(95)

—

—

Plus: FultonFirst implementation and asset disposals

1,556

2,795

(207)

(270)

(47)

Less: Tax impact of adjustments

(2,005)

(814)

(929)

(1,088)

(1,361)

Adjusted net income available to common shareholders (numerator)

$     99,743

$    99,472

$   101,386

$   100,729

$    95,544

Average shareholders' equity

$  3,543,911

$  3,464,539

$  3,361,368

$  3,304,015

$  3,254,125

Less: Average preferred stock

(192,878)

(192,878)

(192,878)

(192,878)

(192,878)

Less: Average goodwill and intangible assets

(610,262)

(615,600)

(620,986)

(626,383)

(632,254)

Average tangible common shareholders' equity (denominator)

$  2,740,771

$  2,656,061

$  2,547,504

$  2,484,754

$  2,428,993

Operating return on average common shareholders' equity (tangible)(2)

14.76 %

14.86 %

15.79 %

16.26 %

15.95 %

Tangible common equity to tangible assets (TCE Ratio)

Shareholders' equity

$  3,505,283

$  3,490,447

$  3,413,598

$  3,329,246

$  3,274,321

Less: Preferred stock

(192,878)

(192,878)

(192,878)

(192,878)

(192,878)

Less: Goodwill and intangible assets

(607,647)

(612,996)

(618,361)

(623,729)

(629,189)

Tangible common shareholders' equity (numerator)

$  2,704,758

$  2,684,573

$  2,602,359

$  2,512,639

$  2,452,254

Total assets

$ 32,237,438

$ 32,118,400

$ 31,995,086

$ 32,040,448

$ 32,132,028

Less: Goodwill and intangible assets

(607,647)

(612,996)

(618,361)

(623,729)

(629,189)

Total tangible assets (denominator)

$ 31,629,791

$ 31,505,404

$ 31,376,725

$ 31,416,719

$ 31,502,839

Tangible common equity to tangible assets

8.55 %

8.52 %

8.29 %

8.00 %

7.78 %

(1) Includes loan recovery adjustments of $5.0 million and $0.6 million in the fourth quarter of 2025 and the third quarter of 2025, respectively, reflected in the

     provision for credit losses related to a loan acquired in the Republic Acquisition.

(2) Results are annualized.

Three months ended

Mar 31

Dec 31

Sep 30

Jun 30

Mar 31

2026

2025

2025

2025

2025

Efficiency ratio

Non-interest expense

$    200,294

$   212,986

$   196,574

$   192,811

$   189,460

Less: Acquisition-related expense

(2,644)

(802)

—

—

(380)

Less: FDIC special assessment

—

95

—

—

—

Less: FultonFirst implementation and asset disposals

(1,556)

(2,795)

207

270

47

Less: Intangible amortization

(5,349)

(5,365)

(5,368)

(5,460)

(6,269)

Operating non-interest expense (numerator)

$    190,745

$   204,119

$   191,413

$   187,621

$   182,858

Net interest income

$    262,023

$   266,042

$   264,198

$   254,921

$   251,187

Tax equivalent adjustment

4,303

4,416

4,436

4,389

4,340

Plus: Total non-interest income

69,841

69,980

70,407

69,148

67,232

Less: Other revenue

—

11

(138)

(9)

(122)

Plus: Investment securities (gains) losses, net

—

—

—

—

2

Total revenue (denominator)

$    336,167

$   340,449

$   338,903

$   328,449

$   322,639

Efficiency ratio

56.7 %

60.0 %

56.5 %

57.1 %

56.7 %

Operating non-interest expense to total average assets

Non-interest expense

$    200,294

$   212,986

$   196,574

$   192,811

$   189,460

Less: Intangible amortization

(5,349)

(5,365)

(5,368)

(5,460)

(6,269)

Less: Acquisition-related expense

(2,644)

(802)

—

—

(380)

Less: FDIC special assessment

—

95

—

—

—

Less: FultonFirst implementation and asset disposals

(1,556)

(2,795)

207

270

47

Operating non-interest expense (numerator)

$    190,745

$   204,119

$   191,413

$   187,621

$   182,858

Total average assets (denominator)

$ 31,999,228

$ 32,013,163

$ 31,924,038

$ 31,901,574

$ 31,971,601

Operating non-interest expenses to total average assets(1)

2.42 %

2.53 %

2.38 %

2.36 %

2.32 %

(1) Results are annualized.

Media Contact: Lacey Dean (717) 735-8688
Investor Contact: Rick Kraemer (717) 327-2567

SOURCE Fulton Financial Corporation

Fulton Financial (FULT - Free Report) reported $336.17 million in revenue for the quarter ended March 2026, representing a year-over-year increase of 4.2%. EPS of $0.55 for the same period compares to $0.52 a year ago.

The reported revenue represents a surprise of -0.32% over the Zacks Consensus Estimate of $337.25 million. With the consensus EPS estimate being $0.50, the EPS surprise was +10%.

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

Net Interest Margin: 3.6% versus the two-analyst average estimate of 3.6%.Efficiency Ratio: 56.7% versus the two-analyst average estimate of 60.7%.Total Non-Interest Income: $69.84 million versus $68.35 million estimated by two analysts on average.View all Key Company Metrics for Fulton Financial here>>>

Shares of Fulton Financial have returned +9.3% over the past month versus the Zacks S&P 500 composite's +8.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

Fulton Financial (NASDAQ:FULT) reported first-quarter 2026 operating earnings of $0.55 per diluted share, as management pointed to “strong revenue generation and prudent expense management” that produced positive operating leverage and an improved efficiency ratio.

Chairman, CEO and President Curt Myers said the quarter reflected “the strength of our foundation and the consistent execution of our strategy,” adding that the company continued to make progress by “growing the company, delivering effectively, and operating with excellence.”

Quarterly performance and profitability Senior EVP and CFO Rick Kraemer said operating net income available to common shareholders was $99.7 million, or $0.55 per diluted share, consistent with the prior quarter. On a GAAP basis, earnings were $0.51 per diluted share, with the difference “primarily driven by acquisition-related expenses for deposit and tangible amortization and other non-operating items,” according to Kraemer.

Myers cited operating profitability metrics of 1.30% return on average assets and 14.76% return on tangible common equity. He also said pre-provision net revenue increased $9.2 million from the prior quarter to $141 million and that the efficiency ratio improved to 56.7%.

Net interest income, margin, and balance sheet trends Net interest income totaled $262 million, down about $4 million from the fourth quarter, which Kraemer attributed largely to day-count effects. He said interest income declined due to “slightly lower loan and security yields,” while interest expense also fell as the company continued managing deposit pricing and improved its funding mix.

Fulton’s net interest margin was 3.58%, down one basis point from the prior quarter. Kraemer said margin performance reflected “underlying structural stability rather than short-term tactical actions,” with deposit pricing discipline largely offsetting asset yield pressure. He also noted that brokered balances declined further during the quarter and described the company’s interest rate risk profile as “relatively neutral.”

On funding, Kraemer said average deposit balances were stable while ending balances increased $179 million, driven by higher savings balances and an increase in non-interest-bearing demand deposits. Total cost of funds decreased nine basis points due to pricing actions and favorable mix.

Loan balances increased $121 million during the quarter, with Myers highlighting that growth was led primarily by commercial mortgage and included “an opportunistic purchase of an in-market commercial loan portfolio.” He said that was partially offset by lower construction balances and the planned runoff of the indirect auto portfolio. Kraemer added that credit spreads on originated loans “remained stable” and said the company continued to emphasize disciplined pricing and return thresholds.

Myers provided additional detail on the portfolio purchase in the Q&A, describing it as a “commercial portfolio right in the heart of our franchise” purchased from a “high-quality institution.” He said the portfolio was around $200 million with an average loan size of about $1.2 million and was “a pretty similar customer base to ours.”

In securities, Kraemer said the investment portfolio increased $28 million and remained 15% of total assets. He added that accumulated other comprehensive income increased $23 million during the quarter due to a late-March rise in interest rates.

Fees, expenses, and credit Non-interest income was $69.8 million, “effectively flat” with the prior quarter, Kraemer said. Wealth management revenue increased and was partially offset by seasonal declines in other fee categories and the impact of two fewer days in the quarter. Myers said fee income grew more than 9% year over year across all businesses versus the first quarter of 2025, led by a 12% increase in wealth management, and again represented more than 20% of total revenue.

Non-interest expense totaled $200.3 million, down $12.7 million from the prior quarter, driven by lower incentive compensation and non-personnel cost discipline, partially offset by $2.6 million of acquisition-related expenses, Kraemer said. On an operating basis, expenses were $190.7 million. Asked about expense expectations, Kraemer said the company remained comfortable with its annual guidance and that it implied operating expenses rising from “that 191 operating base today on a standalone basis to something closer to 200 by the end of the year.”

On credit, the provision for credit losses was $14.4 million, resulting in an allowance for credit losses of $367.5 million, or 1.51% of total loans, Kraemer said. Non-performing assets improved to 55 basis points of total assets from 58 basis points in the fourth quarter, and net charge-offs were 25 basis points of average loans annualized. In the Q&A, management said classified and criticized assets continued to trend down and that credit metrics were stable or moving in a positive direction.

Blue Foundry acquisition, capital, and outlook Myers and Kraemer highlighted the closing of Fulton’s acquisition of Blue Foundry Bancorp on April 1, which will be reflected in second-quarter results. Myers said the company’s focus is “thoughtful integration, supporting customers, aligning teams,” with integration planning progressing and efforts expected to be completed later in the summer.

Kraemer said the deal is expected to be “immediately earnings and tangible book accretive in line with previous expectations,” with revenue enhancements driven primarily by relationship expansion. In response to a question about margins following the close, Kraemer said directionally net interest margin should be higher as purchase accounting accretion begins in the second quarter, while also noting deposit repricing “is starting to trough” and pointing to upcoming fixed-rate asset repricing in the back book.

Management also discussed the strategic appeal of Blue Foundry’s Northern New Jersey presence. Myers said Fulton already had a small footprint in the market and that the acquisition “gets us in that market in a bigger way,” adding that Fulton sees opportunities to “go up market in real estate” as well as in wealth and mortgage. He said there was nothing on Blue Foundry’s balance sheet that Fulton planned to purposefully run off. Kraemer added that some of Blue Foundry’s originations had been brokered or third-party and that Fulton could “replace that with Fulton-originated paper,” which he said should help spreads and absolute yields.

On capital, Kraemer said the CET1 ratio increased to about 11.9% and the tangible common equity ratio improved to 8.6%. Fulton repurchased about $24.5 million of common stock during the quarter under its 2026 authorization. In the Q&A, management said it does not manage to specific capital ratio targets and views capital as “pretty robust,” prioritizing organic growth, flexibility for other opportunities, and opportunistic repurchases. Myers said $125 million remained under the authorization.

Looking ahead, Kraemer said Fulton affirmed full-year 2026 operating guidance, with the only change being an updated interest rate assumption to reflect a 25 basis point cut in July rather than March. He reiterated expectations for annualized mid-single-digit loan growth, controlled expense growth, and strong capital generation.

About Fulton Financial (NASDAQ:FULT) Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial’s offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.

Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.

Featured Stories Five stocks we like better than Fulton Financial

, /PRNewswire/ -- Fulton Financial Corporation (Nasdaq: FULT) ("Fulton") today announced the pricing of its underwritten public offering of $300 million aggregate principal amount of its Fixed-to-Floating Rate Subordinated Notes due 2036 (the "Notes"). The Notes will bear interest from and including May 5, 2026 to, but excluding, May 15, 2031, at a fixed rate of 5.950% per annum, payable semi-annually in arrears. From and including May 15, 2031 to, but excluding, May 15, 2036 (unless redeemed prior to such date), the Notes will bear interest at a floating rate per annum equal to the Three-Month Term SOFR, plus 217 basis points, payable quarterly in arrears.

The Notes may be redeemed, at the option of Fulton, beginning on May 15, 2031, and on any date thereafter, in whole or in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the date of redemption.

Fulton intends to use the net proceeds from this offering to repay $195 million aggregate principal amount of its outstanding 3.250% Fixed-to-Floating Rate Subordinated Notes due 2030 and for general corporate purposes. The offering is expected to close on or about May 5, 2026, subject to customary closing conditions.

Piper Sandler and J.P. Morgan acted as joint book-running managers in the Notes offering.

The Notes are being offered pursuant to an effective registration statement (File No. 333-289488) which Fulton filed with the Securities and Exchange Commission (the "SEC") by means of a prospectus supplement and accompanying base prospectus.

Copies of the prospectus supplement and accompanying base prospectus relating to the offering of the Notes can be obtained without charge by visiting the SEC's website at www.sec.gov, or may be obtained from: Piper Sandler & Co., at 1251 Avenue of the Americas, 6th Floor, New York, New York 10020, Attn: Syndicate Operations, by email at [email protected], or by calling 1 (866) 805-4128 or J.P. Morgan Securities LLC, at 270 Park Avenue, New York, New York 10017, or by calling 1 (212) 834-4533.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Fulton Financial Corporation

Fulton, a $34 billion Lancaster, Pa.-based financial holding company, has more than 3,500 employees and operates more than 200 financial centers in Pennsylvania, New Jersey, Maryland, Delaware and Virginia through Fulton Bank, N.A. and Blue Foundry Bank. Additional information on Fulton can be found at https://investor.fultonbank.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Do not unduly rely on forward-looking statements. Forward-looking statements can be identified by the use of words such as "may," "should," "will," "could," "estimates," "predicts," "potential," "continue," "anticipates," "believes," "plans," "expects," "future," "intends," "projects," the negative of these terms and other comparable terminology. These forward-looking statements include statements regarding the offering of the Notes and Fulton's redemption of its outstanding 3.250% Fixed-to-Floating Rate Subordinated Notes due 2030. Fulton may be unable to close the offering on the anticipated date, or at all. There can be no guarantee that Fulton will redeem the 3.250% Fixed-to-Floating Rate Subordinated Notes due 2030 in full, in part or at all.

Forward-looking statements are neither historical facts nor assurance of future performance. Instead, the statements are based on current beliefs, expectations and assumptions regarding the future of Fulton's business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Fulton's control, and actual results and financial condition may differ materially from those indicated in the forward-looking statements. You should not unduly rely on any of these forward-looking statements. Any forward-looking statement is based only on information currently available and speaks only as of the date when made. Fulton undertakes no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

A discussion of certain risks and uncertainties affecting Fulton, and some of the factors that could cause Fulton's actual results to differ materially from those described in the forward-looking statements, can be found in Fulton's Annual Report on Form 10-K for the year ended December 31, 2025, which is accessible on the SEC's website at www.sec.gov and in the Investor Relations section of Fulton's website at www.fultonbank.com, and in other documents Fulton files with the SEC. Information on these websites is not part of this document.

Investor Relations Contact: Pat Lafferty
(717) 327-2556

Media Contact: Lacey Dean
(717) 735-8688

SOURCE Fulton Financial Corporation

Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. 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 make up large portions of long-term returns, and in many cases, dividend contributions surpass one-third of total returns.

Based in Lancaster, Fulton Financial (FULT - Free Report) is in the Finance sector, and so far this year, shares have seen a price change of 8.69%. The financial holding company is currently shelling out a dividend of $0.19 per share, with a dividend yield of 3.62%. This compares to the Banks - Northeast industry's yield of 2.3% and the S&P 500's yield of 1.43%.

Looking at dividend growth, the company's current annualized dividend of $0.76 is up 4.1% from last year. Over the last 5 years, Fulton Financial has increased its dividend 5 times on a year-over-year basis for an average annual increase of 7.25%. 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. Fulton Financial's current payout ratio is 35%, meaning it paid out 35% of its trailing 12-month EPS as dividend.

Earnings growth looks solid for FULT for this fiscal year. The Zacks Consensus Estimate for 2026 is $2.17 per share, which represents a year-over-year growth rate of 0.46%.

Investors like dividends for many reasons; they greatly improve stock investing profits, decrease overall portfolio risk, and carry tax advantages, among others. 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. During periods of rising interest rates, income investors must be mindful that high-yielding stocks tend to struggle. That said, they can take comfort from the fact that FULT is not only an attractive dividend play, but is also a compelling investment opportunity with a Zacks Rank of #2 (Buy).

TULSA, Okla.--(BUSINESS WIRE)--Helmerich & Payne, Inc. (NYSE: HP) will host a conference call on Thursday, May 7, 2026, at 11 a.m. ET to discuss its fiscal second quarter 2026 results. President and CEO Trey Adams and Senior Vice President and CFO Kevin Vann will lead the call. The earnings release and accompanying presentation will be available at hpinc.com. Investors can join the call via phone or audio webcast.   What: Helmerich & Payne, Inc.'s Fiscal Second Quarter 2026 Earnings Rel.

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

The earnings report, which is expected to be released on May 6, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

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

Zacks Consensus EstimateThis oil and gas well-drilling contractor is expected to post quarterly loss of $0.09 per share in its upcoming report, which represents a year-over-year change of -550%.

Revenues are expected to be $946.15 million, down 6.9% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 1.01% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

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

Price, Consensus and EPS Surprise

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

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

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

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

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

How Have the Numbers Shaped Up for Helmerich & Payne?For Helmerich & Payne, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +13.33%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that Helmerich & Payne will most likely beat the consensus EPS estimate.

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

For the last reported quarter, it was expected that Helmerich & Payne would post earnings of $0.12 per share when it actually produced a loss of -$0.15, delivering a surprise of -225.00%.

Over the last four quarters, the company has beaten consensus EPS estimates just once.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

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

Expected Results of an Industry PlayerValaris Limited (VAL - Free Report) , another stock in the Zacks Oil and Gas - Drilling industry, is expected to report loss per share of $0.05 for the quarter ended March 2026. This estimate points to a year-over-year change of +90.6%. Revenues for the quarter are expected to be $437.85 million, down 29.5% from the year-ago quarter.

The consensus EPS estimate for Valaris has been revised 10.9% lower over the last 30 days to the current level. However, an equal Most Accurate Estimate has resulted in an Earnings ESP of 0.00%.

This Earnings ESP, combined with its Zacks Rank #2 (Buy), makes it difficult to conclusively predict that Valaris will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.

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

Helmerich & Payne (HP - Free Report) came out with a quarterly loss of $0.38 per share versus the Zacks Consensus Estimate of a loss of $0.06. This compares to earnings of $0.02 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -570.19%. A quarter ago, it was expected that this oil and gas well-drilling contractor would post earnings of $0.12 per share when it actually produced a loss of $0.15, delivering a surprise of -225%.

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

Helmerich & Payne, which belongs to the Zacks Oil and Gas - Drilling industry, posted revenues of $932.36 million for the quarter ended March 2026, missing the Zacks Consensus Estimate by 1.46%. This compares to year-ago revenues of $1.02 billion. The company has topped consensus revenue estimates three times over the last four quarters.

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

Helmerich & Payne shares have added about 44.8% since the beginning of the year versus the S&P 500's gain of 6%.

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

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.12 on $974 million in revenues for the coming quarter and $0.11 on $3.92 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Drilling is currently in the top 19% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Seadrill (SDRL - Free Report) , is yet to report results for the quarter ended March 2026. The results are expected to be released on May 11.

This offshore drilling services provider is expected to post quarterly loss of $0.10 per share in its upcoming report, which represents a year-over-year change of +56.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Seadrill's revenues are expected to be $332 million, down 0.9% from the year-ago quarter.

Helmerich and Payne Inc (NYSE:HP) reported worse-than-expected second-quarter financial results, after the closing bell on Wednesday.

Helmerich & Payne reported quarterly losses of 38 cents per share which missed the analyst consensus estimate of losses of 2 cents per share. The company reported quarterly sales of $932.000 million which missed the analyst consensus estimate of $949.644 million.

Helmerich & Payne shares rose 1.2% to trade at $37.34 on Friday.

These analysts made changes to their price targets on Helmerich & Payne following earnings announcement.

Susquehanna analyst Charles Minervino maintained Helmerich & Payne with a Positive and raised the price target from $42 to $43. Barclays analyst Eddie Kim maintained the stock with an Overweight rating and raised the price target from $39 to $47. Considering buying HP stock? Here’s what analysts think:

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Key Takeaways HP posted a Q2 adjusted loss of 38 cents per share as revenues fell 8.2% year over year.HP's International Solutions unit logged a near $100M operating loss tied to Middle East costs.HP secured a five-year bp offshore Azerbaijan renewal with potential revenues above $1B. Helmerich & Payne, Inc. (HP - Free Report) reported a second-quarter fiscal 2026 adjusted net loss of 38 cents per share, wider than the Zacks Consensus Estimate of an adjusted net loss of 6 cents. Moreover, the bottom line decreased considerably from the year-ago quarter’s reported profit of 2 cents. This was due to a weaker rig activity in North America and international markets, and significantly higher operating costs related to its Middle East operations.

The International Solutions segment posted an operating loss of nearly $100 million as the company incurred additional expenses to reactivate rigs in Saudi Arabia and work around supply-chain disruptions caused by the Middle East conflict. Moreover, the quarter included a $26 million non-cash impairment charge, which further pressured profitability.

Revenues totaled $932 million, missing the consensus mark of $946 million by 1.46%. The top line also declined 8.2% year over year from the prior-year quarter’s level of $1 billion, primarily due to lower revenue contributions from drilling services.

The company returned approximately $25 million to shareholders through its ongoing dividend program during the quarter. Management also noted continued progress in expanding the deployment of FlexRobotics technology to support customer demand.

Q2 Segmental PerformanceNorth America Solutions: Operating revenues of $517.2 million decreased 13.7% year over year.  Moreover, the top line missed our projection of $519.1 million.

The segment averaged 136 active rigs in the quarter and delivered a direct margin of $215.2 million, or $17,628 on a per-day basis, maintaining industry-leading performance.

Segment operating income was $111.3 million, improving sequentially from the prior quarter that included a one-time impairment, but down from $151.9 million in the year-ago period.  However, the reported figure beat our estimate of $93.9 million.

HP highlighted strengthening customer sentiment and meaningful commercial momentum across the U.S. land market, supported by new contracts and extensions across multiple basins.

International Solutions: Operating revenues were $218.3 million, down 11.9% from $247.9 million a year ago. Moreover, the top line missed our projection of $231 million.

The segment recorded an operating loss of approximately $100 million and generated about $11.5 million of direct margin, down from the prior quarter’s level. The operating loss was wider than our projected loss of $85.1 million.

HP attributed the weaker profitability primarily to the impacts of the conflict in the Middle East. During the quarter, the company utilized in-house engineering and aftermarket capabilities to reactivate rigs in Saudi Arabia using in-country equipment and working around supply-chain constraints. While this enhanced returns and avoided customer delays, it also resulted in more costs being classified as operating expenses, pressuring direct margins.

Offshore Solutions: Revenues rose 15% year over year to $171.4 million. However, the top line beat our projection of $152.9 million.

The segment reported operating income of about $14 million and delivered a direct margin of roughly $27 million, down from the prior quarter’s level by 19.3%. Moreover, the figure beat our estimate of $11.4 million.

HP emphasized the strategic value of the offshore portfolio given its long-term contract structure and relative earnings stability. During the quarter, the company secured a five-year renewal with bp in the Caspian Sea, offshore Azerbaijan, with three one-year extension options. If all option periods are exercised, contract revenues could exceed $1 billion.

Financial PositionAs of March 31, 2026, HP had $177.2 million in cash and cash equivalents. Long-term debt totaled $1.9 billion (debt-to-capitalization of 41.4%).

Following the quarter, HP completed the sale of Utica Square in early April, with after-tax proceeds exceeding its previously communicated $100 million divestiture target. The transaction enabled the retirement of the term loan facility ahead of schedule, reducing post-acquisition debt by $400 million and accelerating deleveraging plans.

Q3 & 2026 GuidanceThe company expects steady operational performance in the third quarter of fiscal 2026. Within North America Solutions, direct margins are projected at $230-$240 million, supported by average rig activity of 137-143. International Solutions is expected to operate 58-68 rigs, generating direct margins of $12-$32 million. In Offshore Solutions, management forecasts 30-35 rigs, contributing $24-$28 million in direct margin. Other operations are expected to deliver up to $3 million in direct margin during the quarter.

For fiscal 2026, this Zacks Rank #3 (Hold) company anticipates average rig activity of 138-144 in North America and 58-68 internationally, while offshore operations are expected to contribute $100-$115 million in direct margin with 30-35 rigs under management. Broader financial guidance includes gross capital expenditures of $270-$310 million, depreciation of approximately $700 million, research and development expenses of about $28 million and selling, general and administrative costs of $265-$285 million. Additionally, cash taxes are projected at $125-$150 million, while interest expense is forecasted at roughly $100 million.

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

Important Earnings at a GlanceWhile we have discussed HP’s second-quarter results in detail, let us take a look at three other key reports in this space.

Houston, TX-based oil and gas equipment and services provider, Halliburton Company (HAL - Free Report) , posted first-quarter 2026 adjusted net income per share of 55 cents, beating the Zacks Consensus Estimate of 49 cents. The outperformance primarily reflects successful cost reduction initiatives. However, the bottom line fell from the year-ago adjusted profit of 60 cents.

Halliburton reported first-quarter capital expenditure of $192 million. As of March 31, 2026, this oil and gas equipment and services company had approximately $2 billion in cash/cash equivalents and $7.1 billion in long-term debt, representing a debt-to-capitalization ratio of 39.6.

Houston, TX-based oil and gas storage and transportation company,Kinder Morgan Inc. (KMI - Free Report) , posted first-quarter 2026 adjusted earnings per share of 48 cents, which beat the Zacks Consensus Estimate of 38 cents. The bottom line increased year over year from 34 cents. The strong quarterly results can be primarily attributed to contributions from the Natural Gas Pipelines business segment.

As of March 31, 2026, KMI reported $72 million in cash and cash equivalents. At the quarter's end, its long-term debt amounted to $29.72 billion. KMI’s project backlog was reported at $10.1 billion by the end of the first quarter. The midstream energy major added that natural gas projects comprise approximately 92% of its project backlog, with nearly 60% dedicated to supporting local distribution companies and power generation.

Fort Worth, TX-based oil and gas exploration and production company, Range Resources Corporation (RRC - Free Report) , posted first-quarter 2026 adjusted earnings of $1.52 per share, which beat the Zacks Consensus Estimate of $1.33. The bottom line also improved from the prior-year level of 96 cents. Strong quarterly results can be attributed to higher gas-equivalent production and increased natural gas price realization.

Drilling and completion expenditure totaled $130 million. An additional $5 million was spent on acreage and $4 million on infrastructure and other investments. At the end of the first quarter, Range Resources reported a total debt of $819.3 million, net of deferred financing costs.

On May 21, 2026, Helmerich & Payne Inc HP shares fell 3.1% today, closing at $39.61. Over the past 52 weeks, the stock has traded as high as $41.82 and as low as $14.65, reflecting significant volatility. The recent price drop contrasts with a year-to-date increase of 40.1% and an impressive 170.2% gain over the past year.

GF Value™ verdict: Current price of $39.61 is 17.3% below GF Value™ of $47.90.GF Score™: 72/100, indicating above-average performance potential.Most notable signal: Insiders sold $3.3M in stock over the last three months, with no buying activity reported. Is HP Overvalued or Undervalued? Currently, Helmerich & Payne Inc is trading at $39.61, which is 17.3% below its GF Value™ of $47.90. This suggests that the stock may be undervalued, providing a potential margin of safety for investors. The GF Valuation label categorizes HP as "Modestly Undervalued," indicating a favorable investment opportunity, albeit with caveats. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.

While the undervaluation suggests an opportunity, it is essential to consider the broader market conditions and potential risks associated with the oil and gas industry. Factors such as fluctuating oil prices, regulatory changes, and geopolitical risks can significantly impact HP's performance. Investors should weigh these considerations against the current price to make informed decisions.

How Does HP's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 155.9x 10.3x Helmerich & Payne's current P/E ratio of 155.9x is significantly above its 5-year median P/E of 10.3x. This stark contrast indicates that the stock is trading well above its historical valuation levels. This analysis aligns with the GF Value™ verdict, suggesting that while the stock may be undervalued based on intrinsic value, it is trading at a high multiple compared to its historical earnings, warranting caution.

What Does HP's GF Score™ Tell Us? Metric Rating GF Score™ 72 Financial Strength 4/10 Profitability 5/10 Growth 7/10 Valuation 10/10 Momentum 3/10 The GF Score™ of 72/100 indicates that Helmerich & Payne has above-average potential for long-term returns. The strongest area is the Valuation rank at 10/10, highlighting that the stock may be attractively priced relative to its intrinsic value. Conversely, the weakest area is Momentum at 3/10, suggesting that recent price performance has not been strong. Financial Strength and Profitability scores of 4/10 and 5/10, respectively, indicate that while there is room for improvement, the company's fundamentals are not exceptionally robust at this time.

What Are Insiders Doing with HP Stock? In recent months, insider activity has shown a trend of selling, with insiders offloading $3.3 million worth of shares without any reported buying. This pattern can be interpreted as a lack of confidence from insiders regarding the company's short-term prospects. While insider selling does not necessarily indicate negative performance, it is a noteworthy signal that potential investors may want to consider when evaluating the stock.

What This Means for Investors Based on the GF Value™ assessment, Helmerich & Payne Inc appears to be undervalued at its current price of $39.61. However, potential investors should exercise caution due to the high P/E ratio compared to historical levels and the recent insider selling activity.

For the complete analysis, visit the Helmerich & Payne Inc HP 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 HP's GF Score™?

HP has a GF Score™ of 72/100, indicating above-average performance potential based on key financial metrics.

Is HP overvalued or undervalued?

HP is considered undervalued according to GF Value™, trading at 17.3% below its intrinsic value.

What is HP's P/E ratio?

HP's current P/E ratio is 155.9x, significantly higher than its historical 5-year median of 10.3x, suggesting it is trading at a premium relative to its past earnings.

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].

The Zacks Oil and Gas - Drilling industry appears to be entering a more constructive phase. While producers are still cautious with capital spending, the broader demand picture is improving. Tight oil supply, geopolitical uncertainty and rising energy-security needs could support future drilling plans. Natural gas adds another layer of opportunity, as LNG exports, new power demand and AI-related electricity use point to steady long-term growth. The industry is also benefiting from a shift toward better equipment. Longer laterals, deeper wells and complex drilling programs require advanced rigs, automation and digital tools. That gives well-equipped contractors a stronger pricing opportunity when customer activity picks up. The group’s solid Zacks Industry Rank and sharp outperformance over the past year add to the positive case. The recovery may be gradual, but the outlook is clearly brighter. In this improving setup, Patterson-UTI Energy (PTEN - Free Report) , Helmerich & Payne (HP - Free Report) and Nabors Industries (NBR - Free Report) stand out as attractive drilling names to watch.

Industry Overview The Zacks Oil and Gas - Drilling industry consists of companies that provide rigs (or specialized vehicles) on a contractual basis to explore and develop oil and gas. These operators offer drilling rigs (both land-based/onshore and offshore), equipment, services and workforce to exploration and production companies worldwide. Drilling for hydrocarbons is costly and technically difficult, and its future primarily depends on contracting activity and the total number of available rigs at a given time rather than the price of oil or gas. Within the industry, it's interesting to note that the volatility associated with offshore drilling companies is much higher than that of their onshore counterparts, and their share prices are more correlated to the price of oil. Overall, oil and gas drilling stocks are among the most volatile in the entire equity market.

4 Trends Defining the Oil and Gas - Drilling Industry's Future Oil Supply Tightness Can Lift Drilling Demand:Oil and gas drilling activity could improve if global supply stays tight. Recent Middle East disruptions have made energy security a bigger concern and could keep oil markets supported. When producers worry about future supply, they often need more wells to maintain or grow output. U.S. shale may benefit because it can respond faster than many global projects. That said, activity may not jump overnight. Customers usually wait for clearer price signals before changing budgets, but the setup is becoming more supportive for drilling demand.

Natural Gas Has a Stronger Long-Term Growth Story:Natural gas is becoming a key demand driver for drillers. LNG exports, new export facilities and rising electricity needs from data centers and AI are all adding to the long-term call on gas. Investors should know that gas wells still need rigs, crews and related drilling services. International gas development, especially in regions like the Middle East and Latin America, also supports activity. In simple terms, if the world needs more gas for power and exports, the drilling industry gets another growth path beyond oil.

Better Rigs and Automation Can Support Higher Pricing:The industry is no longer just about adding more rigs. Operators are drilling deeper wells and longer laterals, which require stronger, more advanced equipment. That favors high-spec rigs, automation and digital tools that can improve safety, speed and well performance. Since the supply of top-tier rigs is limited, drilling contractors may have more room to push pricing higher when demand improves. This is important for investors because better pricing, tied to better technology, can help margins recover even without a huge jump in overall rig counts.

Customer Caution Can Delay the Recovery:The biggest near-term risk is that producers remain careful with spending. Even with higher oil prices, many operators are not rushing to add rigs because price volatility makes planning harder. Public exploration and production companies are especially focused on capital discipline, returns and sticking to budgets. At the same time, the Middle East conflict has added logistics, crew rotation and supply-chain costs for the industry. So, while the backdrop is improving, the recovery may be gradual rather than sharp. For drillers, that means timing remains uncertain.

Zacks Industry Rank Indicates Positive Outlook The Zacks Oil and Gas - Drilling industry is a nine-stock group within the broader Zacks Oil - Energy sector. It currently carries a Zacks Industry Rank #70, which places it in the top 29% of 245 Zacks industries.

The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates fairly strong near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperforms the bottom 50% by a factor of more than 2 to 1.

Considering the encouraging dynamics of the industry, we will present a few stocks that you may want to consider for your portfolio. But it’s worth taking a look at the industry’s shareholder returns and current valuation first.

Industry Outperforms Sector & S&P 500 The Zacks Oil and Gas - Drilling industry has fared better than the broader Zacks Oil – Energy sector as well as the Zacks S&P 500 composite over the past year.

The industry has gone up 117.8% over this period compared with the broader sector’s increase of 42% and the S&P 500’s gain of 30.3%.

One-Year Price Performance

Industry's Current Valuation Since oil and gas drilling companies are debt-laden, it makes sense to value them based on the EV/EBITDA (Enterprise Value/ Earnings before Interest, Tax, Depreciation and Amortization) ratio. This is because the valuation metric takes into account not only equity but also the level of debt. For capital-intensive companies, EV/EBITDA is a better valuation metric because it is not influenced by changing capital structures and ignores the effect of non-cash expenses.

On the basis of the trailing 12-month enterprise value-to-EBITDA (EV/EBITDA), the industry is currently trading at 14.35X, lower than the S&P 500’s 18.65X. It is, however, above the sector’s trailing 12-month EV/EBITDA of 7.03X.

Over the past five years, the industry has traded as high as 24.81X, as low as 4.16X, with a median of 13.75X, as the chart below shows.

Trailing 12-Month Enterprise Value-to-EBITDA (EV/EBITDA) Ratio (Past Five Years)

3 Oil and Gas - Drilling Stocks to Watch Patterson-UTI Energy: Patterson-UTI is an integrated oilfield services company focused on drilling, completion and drilling products markets. Its platform combines contract drilling, hydraulic fracturing, wireline, cementing, natural gas fueling, directional services and drill bits, supported by digital tools that help improve wellsite efficiency. The Zacks Rank #2 (Buy) company operates 137 Tier-1 super-spec rigs and 2.7 million hydraulic horsepower of completion capacity.

You can see the complete list of today’s Zacks #1 Rank stocks here.

With cash flow spread across drilling services, completion services and drilling products, Patterson-UTI positions itself as a balanced leader in U.S. shale. It is investing in upgraded rigs, natural gas-powered fleets and data-driven operations while maintaining a strong balance sheet and an investment-grade credit profile. The company also emphasizes shareholder returns and long-term sustainability.

Patterson-UTI has a market capitalization of $4.7 billion. Over the past 60 days, the Zacks Consensus Estimate for the firm’s 2026 earnings has moved up 40.6%. PTEN stock has surged 116% in a year.

Price and Consensus: PTEN

Nabors Industries: It is a global provider of advanced drilling technology and services, operating in more than 20 countries. Nabors combines drilling operations, rig equipment and digital solutions to improve performance, safety and efficiency. Its vertically integrated model allows it to design automated rig technologies and deliver specialized services directly through its fleet. Nabors is a leading provider of high-specification rigs in the United States and deploys fit-for-purpose rigs across key international markets.

The Zacks #2 Ranked company is also focused on innovation, sustainability and reducing debt. Nabors’ recent moves include acquiring Parker Wellbore, divesting Quail Tools and refinancing debt to extend maturities. These steps strengthen its balance sheet while supporting long-term growth and energy transition goals.

Nabors has a market capitalization of $1.6 billion. The Zacks Consensus Estimate for 2026 earnings for the firm indicates 71.2% growth. NBR stock has gained 304% in a year.

Price and Consensus: NBR

Helmerich & Payne: Helmerich & Payne is a global drilling solutions company focused on onshore, offshore and international markets. It operates more than 200 land rigs, with a broad geographic reach and portfolio flexibility to serve rising drilling activity. The Zacks Rank #3 (Hold) company is also a technology leader, running advanced onshore rigs and expanding customer-led FlexRobotics deployments.

In fiscal second-quarter 2026, HP delivered resilient results in a changing energy market, supported by North America performance, offshore execution and steady international operations. It is also sharpening its portfolio, reducing debt and keeping capital spending disciplined. With $1.1 billion in liquidity and a long dividend record, Helmerich & Payne remains focused on long-term shareholder value.

The firm has a market capitalization of $4 billion. The Zacks Consensus Estimate for fiscal 2026 revenues for Helmerich & Payne indicates 5.1% growth. HP stock has surged 164.8% in a year.

Price and Consensus: HP

A month has gone by since the last earnings report for Helmerich & Payne (HP - Free Report) . Shares have added about 7.3% in that time frame, outperforming the S&P 500.

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

Helmerich & Payne Q2 Earnings & Revenues Miss EstimatesHelmerich & Payne reported a second-quarter fiscal 2026 adjusted net loss of 38 cents per share, wider than the Zacks Consensus Estimate of an adjusted net loss of 6 cents. Moreover, the bottom line decreased considerably from the year-ago quarter’s reported profit of 2 cents. This was due to a weaker rig activity in North America and international markets, and significantly higher operating costs related to its Middle East operations.

The International Solutions segment posted an operating loss of nearly $100 million as the company incurred additional expenses to reactivate rigs in Saudi Arabia and work around supply-chain disruptions caused by the Middle East conflict. Moreover, the quarter included a $26 million non-cash impairment charge, which further pressured profitability.

Revenues totaled $932 million, missing the consensus mark of $946 million by 1.46%. The top line also declined 8.2% year over year from the prior-year quarter’s level of $1 billion, primarily due to lower revenue contributions from drilling services.

The company returned approximately $25 million to shareholders through its ongoing dividend program during the quarter. Management also noted continued progress in expanding the deployment of FlexRobotics technology to support customer demand.

Q2 Segmental PerformanceNorth America Solutions: Operating revenues of $517.2 million decreased 13.7% year over year.  Moreover, the top line missed our projection of $519.1 million.

The segment averaged 136 active rigs in the quarter and delivered a direct margin of $215.2 million, or $17,628 on a per-day basis, maintaining industry-leading performance.

Segment operating income was $111.3 million, improving sequentially from the prior quarter that included a one-time impairment, but down from $151.9 million in the year-ago period.  However, the reported figure beat our estimate of $93.9 million.

HP highlighted strengthening customer sentiment and meaningful commercial momentum across the U.S. land market, supported by new contracts and extensions across multiple basins.

International Solutions: Operating revenues were $218.3 million, down 11.9% from $247.9 million a year ago. Moreover, the top line missed our projection of $231 million.

The segment recorded an operating loss of approximately $100 million and generated about $11.5 million of direct margin, down from the prior quarter’s level. The operating loss was wider than our projected loss of $85.1 million.

HP attributed the weaker profitability primarily to the impacts of the conflict in the Middle East. During the quarter, the company utilized in-house engineering and aftermarket capabilities to reactivate rigs in Saudi Arabia using in-country equipment and working around supply-chain constraints. While this enhanced returns and avoided customer delays, it also resulted in more costs being classified as operating expenses, pressuring direct margins.

Offshore Solutions: Revenues rose 15% year over year to $171.4 million. However, the top line beat our projection of $152.9 million.

The segment reported operating income of about $14 million and delivered a direct margin of roughly $27 million, down from the prior quarter’s level by 19.3%. Moreover, the figure beat our estimate of $11.4 million.

HP emphasized the strategic value of the offshore portfolio given its long-term contract structure and relative earnings stability. During the quarter, the company secured a five-year renewal with bp in the Caspian Sea, offshore Azerbaijan, with three one-year extension options. If all option periods are exercised, contract revenues could exceed $1 billion.

Financial PositionAs of March 31, 2026, HP had $177.2 million in cash and cash equivalents. Long-term debt totaled $1.9 billion (debt-to-capitalization of 41.4%).

Following the quarter, HP completed the sale of Utica Square in early April, with after-tax proceeds exceeding its previously communicated $100 million divestiture target. The transaction enabled the retirement of the term loan facility ahead of schedule, reducing post-acquisition debt by $400 million and accelerating deleveraging plans.

How Have Estimates Been Moving Since Then?It turns out, fresh estimates have trended upward during the past month.

The consensus estimate has shifted 45.12% due to these changes.

VGM ScoresAt this time, Helmerich & Payne has a subpar Growth Score of D, a score with the same score on the momentum front. However, the stock was allocated a score of B on the value side, putting it in the top 40% for value investors.

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

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

Performance of an Industry PlayerHelmerich & Payne belongs to the Zacks Oil and Gas - Drilling industry. Another stock from the same industry, Patterson-UTI (PTEN - Free Report) , has gained 7.5% over the past month. More than a month has passed since the company reported results for the quarter ended March 2026.

Patterson-UTI reported revenues of $1.12 billion in the last reported quarter, representing a year-over-year change of -12.7%. EPS of -$0.06 for the same period compares with $0.00 a year ago.

For the current quarter, Patterson-UTI is expected to post a loss of $0.05 per share, indicating a change of +16.7% from the year-ago quarter. The Zacks Consensus Estimate has changed +20% over the last 30 days.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #2 (Buy) for Patterson-UTI. Also, the stock has a VGM Score of B.

March 16, 2026 16:01 ET  | Source: IPG Photonics Corporation

MARLBOROUGH, Mass., March 16, 2026 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ: IPGP), the global leader in fiber laser technology, announced today that the Local Division of the Unified Patent Court (UPC) located in Düsseldorf, Germany has issued a decision in a patent infringement case brought by Trumpf SE & Co. KG (“Trumpf”).

The court ruled that certain uses and designs of IPG’s adjustable mode beam (AMB) lasers infringed European Patent 2,624,031. The decision impacts AMB laser products sold in Germany, France and Italy, affecting less than 1% of IPG’s total sales.

The Company is implementing contingency measures to support AMB customers. Other lasers models made by IPG were not involved in the lawsuit and IPG’s product portfolio remains broadly available. Remedies available to the patent owner, including an injunction, recall and damages, may be enforced and determined at a subsequent time after the required conditions have been satisfied.

IPG respectfully disagrees with the decision and plans to file an appeal with the UPC Court of Appeal and pursue other measures available to it.

IPG previously disclosed that affiliates of Trumpf have brought two separate actions in the Unified Patent Courts in Mannheim, Germany and Düsseldorf, Germany asserting two different patents against IPG’s AMB lasers. IPG previously announced the Mannheim court’s decision and IPG’s intention to appeal. Today’s announcement relates solely to a different patent asserted in the separate Düsseldorf proceeding.

Contact

Eugene Fedotoff
Senior Director, Investor Relations
IPG Photonics Corporation
508-597-4713
[email protected]

About IPG Photonics Corporation

IPG Photonics Corporation is the leader in high-power fiber lasers and amplifiers used primarily in materials processing and other diverse applications. The Company’s mission is to develop innovative laser solutions, making the world a better place. IPG accomplishes this mission by delivering superior performance, reliability, and usability at a lower total cost of ownership compared with other types of lasers and non-laser tools, allowing end users to increase productivity and decrease costs. IPG is headquartered in Marlborough, Massachusetts and has more than 30 facilities worldwide. For more information, visit www.ipgphotonics.com.

Safe Harbor Statement

Information and statements provided by IPG and its employees, including statements in this press release, that relate to future plans, events or performance are forward-looking statements. These statements involve risks and uncertainties. Any statements in this press release that are not statements of historical fact are forward-looking statements, including those related to the percentage of total sales impacted by the decision, remedies available to the patent owner, the enforcement and determination of damages, implementing contingency measures to support AMB customers, and filing an appeal with the UPC Court of Appeals and pursuing other measures available to it. Factors that could cause actual results to differ materially include risks and uncertainties, including risks associated with intellectual property and litigation, and other risks identified in IPG's SEC filings. Readers are encouraged to refer to the risk factors described in IPG's Annual Report on Form 10-K (filed with the SEC on February 23, 2026) and IPG's reports filed with the SEC, as applicable. Actual results, events and performance may differ materially. Readers are cautioned not to rely on the forward-looking statements, which speak only as of the date hereof. IPG undertakes no obligation to update the forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Posted by Defense World Staff on Mar 30th, 2026

Assenagon Asset Management S.A. acquired a new stake in IPG Photonics Corporation (NASDAQ:IPGP – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 47,981 shares of the semiconductor company’s stock, valued at approximately $3,435,000. Assenagon Asset Management S.A. owned 0.11% of IPG Photonics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Versant Capital Management Inc boosted its position in shares of IPG Photonics by 51.1% in the third quarter. Versant Capital Management Inc now owns 343 shares of the semiconductor company’s stock worth $27,000 after buying an additional 116 shares during the period. Allworth Financial LP raised its holdings in shares of IPG Photonics by 10.2% during the 3rd quarter. Allworth Financial LP now owns 1,449 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 134 shares during the period. PNC Financial Services Group Inc. lifted its position in IPG Photonics by 8.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,813 shares of the semiconductor company’s stock worth $124,000 after acquiring an additional 148 shares in the last quarter. Ballast Asset Management LP lifted its position in IPG Photonics by 0.6% during the 3rd quarter. Ballast Asset Management LP now owns 34,941 shares of the semiconductor company’s stock worth $2,767,000 after acquiring an additional 197 shares in the last quarter. Finally, Orion Porfolio Solutions LLC boosted its holdings in IPG Photonics by 2.8% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 7,922 shares of the semiconductor company’s stock worth $544,000 after acquiring an additional 215 shares during the period. Institutional investors and hedge funds own 93.79% of the company’s stock.

Insider Buying and Selling In other news, Director Eugene A. Scherbakov sold 2,700 shares of the company’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $80.96, for a total value of $218,592.00. Following the sale, the director owned 59,330 shares in the company, valued at approximately $4,803,356.80. This represents a 4.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Fibre Devices Ltd Ip sold 13,381 shares of the stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $81.52, for a total transaction of $1,090,819.12. Following the transaction, the insider directly owned 6,593,169 shares in the company, valued at $537,475,136.88. The trade was a 0.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 134,617 shares of company stock worth $10,636,883. 39.50% of the stock is currently owned by insiders.

Analyst Ratings Changes Several analysts have issued reports on IPGP shares. Raymond James Financial downgraded shares of IPG Photonics from a “strong-buy” rating to an “outperform” rating and increased their price objective for the company from $97.00 to $180.00 in a research report on Friday, February 13th. Zacks Research raised shares of IPG Photonics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 15th. Wall Street Zen downgraded shares of IPG Photonics from a “buy” rating to a “hold” rating in a research note on Sunday. Stifel Nicolaus lifted their price target on shares of IPG Photonics from $92.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Finally, Roth Mkm boosted their price objective on shares of IPG Photonics from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $131.40.

View Our Latest Research Report on IPG Photonics

IPG Photonics Price Performance IPGP stock opened at $115.70 on Monday. The stock’s 50 day moving average is $115.71 and its two-hundred day moving average is $93.05. IPG Photonics Corporation has a 52-week low of $48.59 and a 52-week high of $155.82. The company has a market capitalization of $4.88 billion, a PE ratio of 156.35, a P/E/G ratio of 2.84 and a beta of 0.94.

IPG Photonics (NASDAQ:IPGP – Get Free Report) last released its earnings results on Thursday, February 12th. The semiconductor company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.25 by $0.21. The company had revenue of $274.47 million during the quarter, compared to analysts’ expectations of $249.58 million. IPG Photonics had a return on equity of 2.89% and a net margin of 3.10%.The business’s revenue was up 17.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 EPS. IPG Photonics has set its Q1 2026 guidance at 0.100-0.400 EPS. As a group, sell-side analysts anticipate that IPG Photonics Corporation will post 1.54 EPS for the current year.

IPG Photonics Profile (Free Report)

IPG Photonics Corporation is a global leader in the design and manufacture of high-performance fiber lasers and amplifiers used in industrial, medical, scientific, and telecommunications applications. The company’s core products include ytterbium and erbium fiber lasers, diode lasers, and fiber amplifiers that deliver high power and efficiency for precision cutting, welding, marking, and engraving. IPG’s systems are engineered to optimize process speed, reliability, and energy consumption, making them a preferred choice for advanced manufacturing environments.

In addition to stand-alone laser sources, IPG offers turnkey laser systems and integrated solutions tailored to sectors such as automotive, electronics, aerospace, additive manufacturing, and life sciences.

Further Reading Five stocks we like better than IPG Photonics

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Posted by Defense World Staff on Apr 4th, 2026

SG Americas Securities LLC increased its position in IPG Photonics Corporation (NASDAQ:IPGP – Free Report) by 374.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,007 shares of the semiconductor company’s stock after buying an additional 27,629 shares during the period. SG Americas Securities LLC owned about 0.08% of IPG Photonics worth $2,507,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Emerald Mutual Fund Advisers Trust acquired a new position in IPG Photonics in the 3rd quarter valued at $6,645,000. Allianz Asset Management GmbH boosted its holdings in shares of IPG Photonics by 45.2% during the third quarter. Allianz Asset Management GmbH now owns 200,138 shares of the semiconductor company’s stock worth $15,849,000 after purchasing an additional 62,286 shares during the last quarter. Polar Asset Management Partners Inc. grew its position in shares of IPG Photonics by 27.4% in the third quarter. Polar Asset Management Partners Inc. now owns 79,721 shares of the semiconductor company’s stock valued at $6,313,000 after purchasing an additional 17,132 shares during the period. Assenagon Asset Management S.A. acquired a new position in IPG Photonics in the fourth quarter valued at $3,435,000. Finally, Old West Investment Management LLC increased its stake in IPG Photonics by 138.0% in the third quarter. Old West Investment Management LLC now owns 20,842 shares of the semiconductor company’s stock valued at $1,650,000 after purchasing an additional 12,085 shares during the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.

Analyst Upgrades and Downgrades Several equities analysts recently weighed in on IPGP shares. Wall Street Zen downgraded IPG Photonics from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a research note on Wednesday, December 10th. Raymond James Financial cut shares of IPG Photonics from a “strong-buy” rating to an “outperform” rating and raised their target price for the stock from $97.00 to $180.00 in a research report on Friday, February 13th. Stifel Nicolaus boosted their target price on shares of IPG Photonics from $92.00 to $165.00 and gave the company a “buy” rating in a report on Friday, February 13th. Finally, Roth Mkm upped their price target on shares of IPG Photonics from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $131.40.

View Our Latest Stock Report on IPG Photonics

Insider Activity In other IPG Photonics news, Director Eric Meurice sold 750 shares of IPG Photonics stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $95.00, for a total transaction of $71,250.00. Following the transaction, the director directly owned 22,803 shares of the company’s stock, valued at $2,166,285. The trade was a 3.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Valentin Gapontsev Trust I sold 23,029 shares of the stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $76.98, for a total transaction of $1,772,772.42. Following the completion of the sale, the insider directly owned 6,818,577 shares of the company’s stock, valued at $524,894,057.46. The trade was a 0.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 134,617 shares of company stock valued at $10,636,883 over the last quarter. 39.50% of the stock is owned by insiders.

IPG Photonics Stock Performance IPGP stock opened at $113.94 on Friday. The company has a market cap of $4.84 billion, a PE ratio of 153.97, a price-to-earnings-growth ratio of 2.79 and a beta of 1.01. The stock has a 50-day moving average price of $118.65 and a two-hundred day moving average price of $94.00. IPG Photonics Corporation has a 12-month low of $48.59 and a 12-month high of $155.82.

IPG Photonics (NASDAQ:IPGP – Get Free Report) last released its quarterly earnings data on Thursday, February 12th. The semiconductor company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.21. IPG Photonics had a return on equity of 2.89% and a net margin of 3.10%.The company had revenue of $274.47 million for the quarter, compared to the consensus estimate of $249.58 million. During the same period last year, the business posted $0.18 EPS. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. IPG Photonics has set its Q1 2026 guidance at 0.100-0.400 EPS. Equities analysts forecast that IPG Photonics Corporation will post 1.54 EPS for the current fiscal year.

IPG Photonics Company Profile (Free Report)

IPG Photonics Corporation is a global leader in the design and manufacture of high-performance fiber lasers and amplifiers used in industrial, medical, scientific, and telecommunications applications. The company’s core products include ytterbium and erbium fiber lasers, diode lasers, and fiber amplifiers that deliver high power and efficiency for precision cutting, welding, marking, and engraving. IPG’s systems are engineered to optimize process speed, reliability, and energy consumption, making them a preferred choice for advanced manufacturing environments.

In addition to stand-alone laser sources, IPG offers turnkey laser systems and integrated solutions tailored to sectors such as automotive, electronics, aerospace, additive manufacturing, and life sciences.

Read More Five stocks we like better than IPG Photonics

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MARLBOROUGH, Mass., April 21, 2026 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (Nasdaq: IPGP) will release its first quarter 2026 financial results before the market opens on Tuesday, May 5, 2026. The Company will hold a conference call to review these results at 10:00 a.m. ET on the same day. To access the call, please dial 877-407-6184 in the United States or 201-389-0877 internationally. A live webcast of the call will also be available and archived in the investor relations section of the Company’s website at investor.ipgphotonics.com.

About IPG Photonics Corporation
IPG Photonics Corporation is the leader in high-power fiber lasers and amplifiers used primarily in materials processing and other diverse applications. The Company’s mission is to develop innovative laser solutions making the world a better place. IPG accomplishes this mission by delivering superior performance, reliability and usability at a lower total cost of ownership compared with other types of lasers and non-laser tools, allowing end users to increase productivity and decrease costs. IPG is headquartered in Marlborough, Massachusetts and has more than 30 facilities worldwide. For more information, visit www.ipgphotonics.com.

Contact:
Eugene Fedotoff
Senior Director, Investor Relations
IPG Photonics Corporation
508-597-4713
[email protected]

Most robotics coverage in the media focuses on the headliners. The humanoid unveil. The next big deployment announcement. While we do cover these newer and “hot” technologies in-depth, it’s important to remember that the majority of innovation and deployment in physical automation continues to happen on the factory floor. 

Below, we highlight six companies in the ROBO Global Robotics and Automation Index (ROBO) that showcase a different side of the robotics story than you often hear in the news. Some have reported recently. Others are reporting soon. Taken together, they span the entire globe and are involved in almost every product you use. These are not companies you normally see trending on X.  

See more: ROBO Index-Linked Assets Double as Investors Pivot to Physical AI

FANUC Corporation (6954.T) If you want to understand industrial robotics, start with FANUC. Founded in 1956 as part of Fujitsu and spun out as an independent company in 1972, FANUC is the company that automated the machines that make the machines. It commands the top global market share in CNC (computerized numerical control) systems and industrial robots, and its yellow machines are embedded in manufacturing facilities across automotive, aerospace, electronics, and more.

In August 2023, it became the first industrial robot manufacturer to ship a cumulative one million robots. Today, with over a million units running factory floors across more than 100 countries, FANUC’s record FY2025 results provide a clear blueprint of where industrial automation capital is flowing.

In its fiscal year ending March 2026, FANUC posted record net sales of JPY 857 billion, up 8% year over year, with operating margin improving 150 basis points to 21.4%. For fiscal 2026, management guided 6% further sales growth and margin expansion to 23.3%. 

The drivers: strong factory automation demand in China and the Americas, and continued investment from customers navigating persistent labor shortages. FANUC’s tariff commentary is notable. After initial capital investment hesitancy, management said companies with sufficient liquidity are now investing again, partly because labor shortages in the U.S. show no sign of easing.

ABB (ABB) ABB is one of the foundational names in industrial automation. The Swiss-headquartered company spans robotics and discrete automation, electrification, process automation, and motion control. Its products are embedded in factories, power grids, data centers, ports, and electric vehicle infrastructure across 100 countries. If FANUC owns the CNC and robot controller layer, ABB owns much of the electrical infrastructure that powers the machines FANUC, and other ROBO constituents in the Manufacturing and Industrial Automation subsector controls.

That context makes its Q1 2026 results worth reading carefully. ABB posted orders of $11.3 billion against a consensus of $9.77 billion, beating it by more than $1.5 billion and up 32% year over year. Revenue grew 18%. Free cash flow hit a Q1 record of $1.3 billion. Management raised full-year guidance, targeting high single-digit to low double-digit revenue growth for 2026. The standout driver: electrification, where data center-related demand grew triple digits.

The same AI infrastructure buildout pulling through demand for Koh Young’s inspection systems and Han’s Laser’s processing equipment is simultaneously driving explosive demand for the electrical switchgear, power distribution, and automation systems that ABB makes. The factories building AI hardware need ABB products to run. The data centers running AI need ABB products to stay powered. Electrification is core to the supply and demand of robotics and AI. 

Han’s Laser (002008.SZ) Han’s Laser is China’s dominant laser processing equipment manufacturer and one of the world’s largest. The company’s machines cut, weld, mark, and process materials across electronics, automotive, new energy, and semiconductor manufacturing. It is the industrial laser equivalent of infrastructure.

Its 2025 annual report, released earlier this month, tells a similar story. Revenue hit $2.67 billion, up 27% year over year, a three-year high. Core operating profit, excluding non-recurring gains, surged 82%. Q4 2025 revenue was up 18.55% quarter over quarter, the fourth consecutive quarter of sequential improvement. The growth drivers tell you exactly where intelligent manufacturing capital is flowing: AI server infrastructure, new energy, and semiconductor domestic substitution across China. Looking ahead, management explicitly called out embodied intelligence as a 2026 opportunity. 

Koh Young Technology (098460.KQ) Most people have never heard of Koh Young. That is a mistake. The South Korean company is the global leader in 3D measurement-based inspection systems. In practice, that means Koh Young’s machines sit on electronics manufacturing lines around the world and verify, with sub-micron precision, that every solder joint, every component placement, and every semiconductor package is exactly where it should be. No inspection, no yield. No yield, no product.

Last week, Koh Young reported Q1 2026 results that deserve more attention than they got. Revenue of 72.7 billion won was up 42% year over year, a record first quarter. Operating profit jumped 209%. Net profit jumped 389%. The growth came from two simultaneous drivers: expanded sales of 3D semiconductor packaging inspection equipment to what the company described as a global No.1 AI data center optical communications module customer, and surging demand for its AI smart factory software across the same customer base. Both pillars grew at the same time. The company said that dynamic is exactly what they expect to continue.

IPG Photonics (IPGP) IPG Photonics (IPGP) invented the modern fiber laser. The Massachusetts-based company builds the high-power laser sources that sit inside cutting, welding, and materials processing systems across manufacturing globally. Where Han’s Laser makes the machine, IPG makes the engine inside the machine.

IPG does not report Q1 2026 until May 5, but its Q4 2025 results, released in February, made clear the recovery is real. Revenue of $274.5 million was up 17.2% year over year, beating consensus by a wide margin. The stock jumped over 35% on that print. Management guided Q1 2026 revenue of $235 to $265 million, acknowledging ongoing tariff uncertainty. The underlying demand driver is the same one running through this entire piece: manufacturers building out AI infrastructure, new energy capacity, and precision automation are buying more laser processing equipment. As a bonus, they are now seeing new demand from utilization in medical and even counter-drone technology that feels a bit like Star Wars.

Microchip Technology (MCHP) Microchip Technology (MCHP) is the backbone of embedded control in industrial robotics. Its microcontrollers, FPGAs, and analog chips are inside motor drives, robotic arms, sensors, and automation controllers across the industrial stack. When a robot moves, there is often a Microchip part deciding how.

Microchip spent most of 2024 and the first half of 2025 working through one of the worst inventory corrections in the semiconductor industry, which appears to have escaped from the bottom. In Q3 fiscal 2026 (the quarter ended December 31, 2025), revenue hit $1.186 billion, up 15.6% year over year and well above guidance. Non-GAAP gross margins recovered from 52% at the trough to 60.5%. Management guided Q4 fiscal 2026 revenue of approximately $1.26 billion at the midpoint, up 29.8% year over year. CEO Steve Sanghi called it a broad-based recovery across end markets, with industrials leading. 

Robotics Ecosystem Takeaways  These six companies touch different parts of the robotics and automation stack. CNC and robot controllers. Electrical infrastructure and power systems. Laser processing and materials manufacturing. Precision inspection. Embedded semiconductors. Precise robot arms and manipulation. 

Capital is coming back into industrial automation. The AI infrastructure buildout is pulling through demand for intelligent manufacturing equipment, not just data center hardware. Labor economics are reinforcing the automation case in the Americas and across Asia. Electrification is the connective tissue binding it all together. And companies that held margins through the cycle are now positioned to expand them as volumes return.

The continued march of Robotics as a fundamental part of our modern world has been the thesis since the inception of the ROBO Index back in 2013. What is clarifying right now is the breadth of confirmation. Across the world, the same buildout is showing up in orders, revenue, margins, and guidance. 

The factory floor is speaking, are you listening? 

ROBO is the underlying index for the ROBO Global Robotics & Automation ETF (ROBO), the L&G ROBO Global Robotics and Automation UCITS ETF (ROBO.LN), and the Global X ROBO Global Robotics & Automation ETF (ROBO.AU).  

Looking for regular updates? Subscribe here for weekly insights on robotics, AI, and healthcare technology, delivered straight to your inbox.

For more news, information, and analysis, visit our Artificial Intelligence & Disruptive Technology Content Hubs.

VettaFi is the index provider for ROBO ETFs, for which it receives an index licensing fee. However, ROBO ETFs are not issued, sponsored, endorsed, or sold by VettaFi. VettaFi and its affiliates have no obligation or liability in connection with the issuance, administration, marketing, or trading of ROBO ETFs. 

U.S. Fund A Shares (without sales charge*) posted a return of 1.17% in first quarter 2026. Leading contributors in the First Eagle U.S. Fund this quarter included gold bullion, Exxon Mobil Corporation, Noble Corporation PLC Class A, IPG Photonics Corporation and SLB Limited. The leading detractors in the quarter were Workday, Inc. Class A, Oracle Corporation, Salesforce.com, Inc., Meta Platforms, Inc. Class A and Universal Health Services, Inc, Class B.

 Strong Start to the Year on Growing Demand and Continued Focus on Execution of Strategic Initiatives

Managing Costs and Mitigating Tariff Impact on Gross Margin

MARLBOROUGH, Mass., May 05, 2026 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ: IPGP) today reported financial results for the first quarter ended March 31, 2026.

  Three Months Ended March 31,(In millions, except per share data and percentages)  2026   2025  ChangeRevenue $265.5  $227.8  17%Gross margin  37.5%  39.4%  Operating income (loss) $(7.7) $1.8  NMOperating margin (2.9)%  0.8%  Net income $1.6  $3.8  (58)%Earnings per diluted share $0.04  $0.09  (56)%Non-GAAP Measures*      Adjusted gross margin  37.8%  40.0%  Adjusted EBITDA $35.2  $32.7  8%Adjusted earnings per diluted share $0.29  $0.31  (6)%
*Adjusted gross margin, adjusted EBITDA and adjusted earnings per diluted share include non-GAAP adjustments. A reconciliation from GAAP to non-GAAP metrics is provided in this earnings release.

NM - not meaningful.

Management Comments

“I am pleased to share that first-quarter revenue came in above our expectations. The team delivered our second consecutive quarter of double-digit year-over-year revenue growth, driven by disciplined execution of our key strategic initiatives and continued strong demand for our laser solutions,” said Dr. Mark Gitin, Chief Executive Officer of IPG Photonics.

Financial Highlights

Beginning in the first quarter, the Company revised its revenue disaggregation by application into two categories: Industrial Solutions and Advanced Solutions. This structure better reflects the Company's strategic growth initiatives and provides a clearer separation between the Company's industrial and non-industrial businesses, giving better visibility into the distinct performance and growth profiles of each.

 Three Months Ended March 31, 2026
 2025
 ChangeSales by Application     Industrial Solutions$227,590 $188,016 21%Advanced Solutions 37,907  39,777 (5)%Total$265,497 $227,793 17%
First quarter revenue of $265 million increased 17% year over year, driven by growth in Industrial Solutions. Changes in foreign exchange rates increased revenue growth by approximately 4%. Industrial Solutions sales accounted for 86% of total revenue and increased 21% year over year, driven by growth in welding, cutting, marking, and cleaning applications. Advanced Solutions sales decreased 5% year over year due to lower revenue in micromachining and defense applications, partially offset by increased sales in medical and semiconductor applications. Emerging growth products accounted for 53% of total revenue, consistent with the prior quarter. By region, sales increased 14% in Asia, 27% in North America, and 4% in Europe on a year-over-year basis.

GAAP gross margin of 37.5% and adjusted gross margin of 37.8% decreased year over year due to tariffs and higher product cost, partially offset by lower inventory provisions. Adjusted EBITDA was $35.2 million and adjusted earnings per diluted share (EPS) was $0.29 in the first quarter. During the first quarter, IPG spent $16 million on capital expenditures.

Business Outlook and Financial Guidance

“Our book-to-bill was once again firmly above one in the first quarter, reflecting robust demand for our solutions despite elevated macroeconomic uncertainty. We remain focused on executing on our growth strategy supported by operational excellence and an innovation engine that is unlocking areas of significant additional opportunities. This foundation gives us confidence in our ability to achieve above-market growth and deliver lasting value for our customers and shareholders.” concluded Dr. Gitin.

For the second quarter of 2026, IPG expects revenue of $260 million to $290 million, adjusted gross margin between 37% and 40% and adjusted operating expenses of $92 million to $95 million. IPG anticipates delivering adjusted earnings per diluted share in the range of $0.25 to $0.55 and adjusted EBITDA in the range of $32 million to $48 million.

As discussed in more detail in the "Safe Harbor" passage of this news release, actual results may differ from this guidance due to various factors including, but not limited to, trade policy changes and trade restrictions, product demand, order cancellations and delays, competition, tariffs and retaliatory tariffs, currency fluctuations and general economic conditions. The current uncertainty related to the trade environment and tariff policies increases the risks to the outlook that we have provided. This guidance is based upon current market conditions and expectations, and is subject to the risks outlined in the Company's reports filed with the SEC, and assumes exchange rates relative to the U.S. dollar of euro 0.87, Japanese yen 159 and Chinese yuan 6.92, respectively.

Supplemental Financial Information

Additional supplemental financial information is provided in the unaudited Financial Data Workbook and First Quarter 2026 Earnings Call Presentation available on the investor relations section of the Company's website at investor.ipgphotonics.com.

Conference Call Reminder

The Company will hold a conference call today, May 5, 2026 at 10:00 am ET. To access the call, please dial 877-407-6184 in the US or 201-389-0877 internationally. A live webcast of the call will also be available and archived on the investor relations section of the Company's website at investor.ipgphotonics.com.

Contact

Eugene Fedotoff
Senior Director, Investor Relations
IPG Photonics Corporation
508-597-4713
[email protected]

About IPG Photonics Corporation

IPG Photonics Corporation is the leader in high-power fiber lasers and amplifiers used primarily in materials processing and other diverse applications. The Company’s mission is to develop innovative laser solutions, making the world a better place. IPG accomplishes this mission by delivering superior performance, reliability, and usability at a lower total cost of ownership compared with other types of lasers and non-laser tools, allowing end users to increase productivity and decrease costs. IPG is headquartered in Marlborough, Massachusetts and has more than 30 facilities worldwide. For more information, visit www.ipgphotonics.com.

Safe Harbor Statement

Information and statements provided by IPG and its employees, including statements in this press release, that relate to future plans, events or performance are forward-looking statements. These statements involve risks and uncertainties. Any statements in this press release that are not statements of historical fact are forward-looking statements, including those statements related to operational excellence, an innovation engine that is unlocking areas of significant additional opportunities, and the ability to achieve above-market growth and deliver lasting value for our customers and shareholders, and statements related to shares repurchases, revenue, adjusted gross margin and operating expenses outlook, adjusted earnings per diluted share and adjusted EBITDA guidance, including the expected impact of tariffs, and the impact of the U.S. dollar on our guidance for the second quarter of 2026. Factors that could cause actual results to differ materially include risks and uncertainties, including risks associated with the strength or weakness of business conditions in industries and geographic markets that IPG serves, particularly the effect of downturns in the markets IPG serves; uncertainties and adverse changes in the general economic conditions of markets; inability to manage risks associated with international customers and operations; changes in trade controls and tariff policies; IPG's ability to penetrate new applications for fiber lasers and increase market share; the rate of acceptance and penetration of IPG's products; foreign currency fluctuations; high levels of fixed costs from IPG's vertical integration; the appropriateness of IPG's manufacturing capacity for the level of demand; competitive factors, including declining average selling prices; the effect of acquisitions and investments; inventory write-downs; asset impairment charges; intellectual property infringement claims and litigation; interruption in supply of key components; manufacturing risks; government regulations and trade sanctions; and other risks identified in IPG's SEC filings. Readers are encouraged to refer to the risk factors described in IPG's Annual Report on Form 10-K (filed with the SEC on February 23, 2026) and IPG's reports filed with the SEC, as applicable. Actual results, events and performance may differ materially. Readers are cautioned not to rely on the forward-looking statements, which speak only as of the date hereof. IPG undertakes no obligation to update the forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

IPG PHOTONICS CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
   Three Months Ended March 31,   2026  2025
  (In thousands, except per share data)Net sales $265,497  $227,793Cost of sales  165,998   137,981Gross profit  99,499   89,812Operating expenses:    Sales and marketing  24,534   24,430Research and development  33,309   28,336General and administrative  36,092   32,808Settlement of litigation matters  13,500   —(Gain) loss on foreign exchange  (200)  2,411Total operating expenses  107,235   87,985Operating (loss) income  (7,736)  1,827Other income, net:    Interest income, net  6,922   7,444Other income, net  1,833   1,344Total other income  8,755   8,788Income before provision for income taxes  1,019   10,615(Benefit) provision for income taxes  (565)  6,857Net income $1,584  $3,758Net income per common share:    Basic $0.04  $0.09Diluted $0.04  $0.09Weighted average common shares outstanding:    Basic  42,245   42,605Diluted  42,912   42,832 IPG PHOTONICS CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
   March 31, December 31,   2026   2025   (In thousands, except share and
per share data)ASSETSCurrent assets:    Cash and cash equivalents $480,761  $403,790 Short-term investments  332,144   435,538 Accounts receivable, net  192,437   181,734 Inventories  319,006   313,416 Prepaid income taxes  51,203   43,196 Prepaid expenses and other current assets  57,587   45,766 Total current assets  1,433,138   1,423,440 Long-term investments  70,567   76,533 Deferred income taxes, net  120,934   123,889 Goodwill  70,913   71,735 Intangible assets, net  47,171   49,933 Property, plant and equipment, net  636,242   637,516 Other assets  42,677   41,234 Total assets $2,421,642  $2,424,280 LIABILITIES AND EQUITYCurrent liabilities:    Accounts payable $54,724  $39,288 Accrued expenses and other current liabilities  184,849   184,849 Income taxes payable  7,603   9,900 Total current liabilities  247,176   234,037 Other long-term liabilities and deferred income taxes  58,671   62,113 Total liabilities  305,847   296,150 Commitments and contingencies    IPG Photonics Corporation equity:    Common stock, $0.0001 par value, 175,000,000 shares authorized; 57,281,253 and 42,443,381 shares issued and outstanding, respectively, at March 31, 2026; 56,964,939 and 42,127,067 shares issued and outstanding, respectively, at December 31, 2025.  6   6 Treasury stock, at cost, 14,837,872 shares held at March 31, 2026 and December 31, 2025, respectively.  (1,555,629)  (1,555,629)Additional paid-in capital  1,075,709   1,077,172 Retained earnings  2,646,548   2,644,964 Accumulated other comprehensive loss  (50,839)  (38,383)Total stockholders' equity  2,115,795   2,128,130 Total liabilities and stockholders' equity $2,421,642  $2,424,280  IPG PHOTONICS CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
   Three Months Ended March 31,   2026   2025   (In thousands)Cash flows from operating activities:    Net income $1,584  $3,758 Adjustments to reconcile net income to net cash (used in) provided by operating activities:    Depreciation and amortization  15,892   15,341 Provisions for inventory, warranty & bad debt  9,348   11,876 Other  11,425   14,796 Changes in assets and liabilities that (used) provided cash:    Accounts receivable and accounts payable  5,438   1,378 Inventories  (19,417)  (8,967)Other  (29,733)  (24,737)Net cash (used in) provided by operating activities  (5,463)  13,445 Cash flows from investing activities:    Purchases of and deposits on property, plant and equipment  (16,311)  (24,818)Proceeds from sales of property, plant and equipment  812   183 Purchases of investments  (32,870)  (333,009)Proceeds from maturities of investments  143,538   83,206 Other  77   52 Net cash provided by (used in) investing activities  95,246   (274,386)Cash flows from financing activities:    Payments for taxes related to net share settlement of equity awards less proceeds from issuance of common stock under employee stock option plans  (11,712)  (5,775)Purchase of treasury stock net of excise tax, at cost  —   105 Net cash used in financing activities  (11,712)  (5,670)Effect of changes in exchange rates on cash and cash equivalents  (1,100)  9,617 Net increase (decrease) in cash and cash equivalents  76,971   (256,994)Cash and cash equivalents — Beginning of period  403,790   620,040 Cash and cash equivalents — End of period $480,761  $363,046 Supplemental disclosures of cash flow information:    Cash paid for interest $3  $5 Cash paid for income taxes, net of refunds $7,689  $10,574 
IPG PHOTONICS CORPORATION
SUPPLEMENTAL SCHEDULE OF NON-GAAP FINANCIAL MEASURES (UNAUDITED)

Use of Non-GAAP Adjusted Financial Information

We refer to certain financial measures that are not recognized under United States generally accepted accounting principles (“GAAP”) and are provided as supplemental information to enhance understanding of the Company’s financial performance. These measures should not be considered as a substitute for, or superior to, GAAP financial measures. The following information provides the definition of adjusted gross profit, adjusted gross margin, adjusted operating income, EBITDA, adjusted EBITDA, adjusted net income, adjusted net earnings per share (EPS), and adjusted tax rate as presented, which are financial measures that are not calculated or presented in accordance with GAAP, and reconciliation to the most directly comparable financial measures calculated and presented in accordance with GAAP. The Company has provided adjusted gross profit, adjusted gross margin, adjusted operating income, EBITDA, adjusted EBITDA, adjusted net income, adjusted EPS, and an adjusted tax rate as supplemental information and in addition to the financial measures presented by the Company that are calculated and presented in accordance with GAAP. Such non-GAAP financial measures should not be considered superior to, as a substitute for or alternative to, and should be considered in conjunction with, the GAAP financial measure presented by the Company.

We define adjusted gross profit as reported gross profit, adjusted for non-recurring, infrequent, or unusual changes, including acquisition and integration charges and amortization of acquisition-related intangibles.

We define adjusted gross margin as adjusted gross profit divided by total revenue.

We define adjusted operating income as reported income from operations, adjusted for non-recurring, infrequent, or unusual charges, including acquisition and integration charges, amortization of acquisition-related intangibles, foreign exchange gains/losses and gain/loss on disposal of assets/divestiture.

We define EBITDA as net income plus interest expense (income), provision for income taxes, depreciation expense, and amortization expense.

We define adjusted EBITDA as EBITDA adjusted for non-recurring, infrequent, or unusual charges, and other adjustments that the Company believes appropriate, including stock-based compensation, acquisition and integration charges, foreign exchange gains/losses and gain/loss on disposal of assets/divestiture.

We define adjusted net income as reported net income, adjusted for non-recurring, infrequent, or unusual changes, and other adjustments that the Company believes appropriate, including amortization of acquisition-related intangibles, acquisition and integration charges, foreign exchange gains/losses and gain/loss on disposal of assets/divestiture, certain discrete tax items and non-GAAP income tax reconciling adjustments.

We define adjusted EPS as adjusted net income divided by the weighted-average diluted shares outstanding.

We define adjusted tax rate as the GAAP tax rate, adjusted for discrete tax items and the net impact of non-GAAP adjustments.

Management believes that these non-GAAP financial measures provide additional means of evaluating period-over-period operating performance. Specifically, these non-GAAP financial measures provide management with additional means to understand and evaluate the operating results and trends in our ongoing business by eliminating certain non-cash expenses and other items that management believes might otherwise make comparisons of our ongoing business with prior periods more difficult, obscure trends in ongoing operations, or reduce management’s ability to make useful forecasts.

In addition, management understands that some investors and financial analysts find this information helpful in analyzing our financial and operational performance and comparing this performance to our peers and competitors. However, these non-GAAP financial measures have limitations as an analytical tool and are not intended to be an alternative to financial measures prepared in accordance with GAAP. In addition, it should be noted that these non-GAAP financial measures may be different from non-GAAP measures used by other companies. Management may, however, utilize other measures to illustrate performance in the future. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures. A reconciliation of our non-GAAP financial measures to their most directly comparable GAAP measures has been provided below. These non-GAAP measures exclude (i) special inventory provisions, (ii) amortization of acquisition-related intangibles, (iii) restructuring charges, (iv) acquisition and integration costs, (v) goodwill and intangible asset impairments, (vi) long-lived asset impairments and accelerated depreciation of certain long-lived assets, (vii) foreign exchange gains/losses, (viii) interest income, (ix) benefit (provision) from income taxes, (x) depreciation, (xi) amortization, (xii) stock-based compensation, (xiii) gain/loss on disposal of assets/divestiture, (xiv) settlement and fees of litigation matters (xv) certain discrete tax items, and (xvi) non-GAAP income tax reconciling adjustments.

We have not provided a quantitative reconciliation of forward-looking Non-GAAP adjusted earnings per diluted share and adjusted EBITDA to their most directly comparable GAAP financial measures because we are unable to estimate with reasonable certainty the ultimate timing or amount of certain significant items without unreasonable efforts. This is due to the inherent difficulty of forecasting the timing and/or amount of various items that would impact adjusted earnings per diluted share and adjusted EBITDA. This includes items that have not yet occurred, are out of the Company’s control, cannot be reasonably predicted and/or for which there would not be any meaningful adjustment or difference. For the same reasons, the Company is unable to address the probable significance of the unavailable information.

Our non-GAAP tax provision for the fiscal first quarter of 2026 is 30%. The difference between our GAAP income tax provision and our non-GAAP income tax provision is presented as non-GAAP income tax reconciling adjustments.

IPG PHOTONICS CORPORATION
SUPPLEMENTAL SCHEDULE OF NON-GAAP MEASUREMENTS (UNAUDITED)

Reconciliation of Gross Profit to Adjusted Gross Profit, Adjusted Gross Margin
   Three Months Ended March 31,   2026   2025   (in thousands, except percentages)Gross profit $99,499  $89,812 Gross margin  37.5%  39.4%Amortization of acquisition-related intangibles  852   1,016 Acquisition and integration charges  —   222 Adjusted gross profit $100,351  $91,050 Adjusted gross margin  37.8%  40.0% Reconciliation of Operating income (loss) to Adjusted Operating Income
   Three Months Ended March 31,   2026  2025
  (in thousands)Operating (loss) income $(7,736) $1,827Amortization of acquisition-related intangibles  2,089   2,502Restructuring charges  66   —Acquisition and integration charges  906   991Settlement and fees of litigation matters  14,128   —(Gain) loss on foreign exchange  (200)  2,411Adjusted operating income $9,253  $7,731 Reconciliation of Net income to Adjusted EBITDA
   Three Months Ended March 31,   2026   2025   (in thousands)Net income $1,584  $3,758 Interest income, net  (6,922)  (7,444)Provision for income taxes  (565)  6,857 Depreciation  12,747   11,556 Amortization  3,145   3,785 EBITDA $9,989  $18,512 Stock based compensation  10,341   10,767 Restructuring charges  66   — Acquisition and integration charges  906   991 Settlement and fees of litigation matters  14,128   — (Gain) loss on foreign exchange  (200)  2,411 Adjusted EBITDA $35,230  $32,681  Reconciliation of GAAP to Non-GAAP Net Income, and GAAP to Non-GAAP Net Income per Share, Diluted
     Three Months Ended March 31,   2026   2025   (in thousands, except per share data)Net income $1,584  $3,758 Amortization of acquisition-related intangibles  2,089   2,502 Restructuring charges  66   — Acquisition and integration charges  906   991 Settlement and fees of litigation matters  14,128   — (Gain) loss on foreign exchange  (200)  2,411 Certain discrete tax items  (1,119)  4,614 Tax impact of non-GAAP adjustments  (4,873)  (1,148)Adjusted net income $12,581  $13,128 Adjusted net earnings per diluted share $0.29  $0.31 Weighted average diluted shares outstanding  42,912   42,832  Reconciliation of GAAP to Non-GAAP Effective Tax Rate
   Three Months Ended March 31,  2026
 2025
Tax rate (55)% 65%
Discrete tax items 110%
 (43)%Net impact of non-GAAP adjustments (25)% (1)%Adjusted tax rate 30%
 21%