Track market-moving stories before they get noisy

Online homebuying pioneer offers modern floor plans in prime Tri-Cities location. "Dusty Boots" tour of under-construction homes scheduled for June 13.

, /PRNewswire/ -- Century Communities, Inc. (NYSE: CCS)—a top national homebuilder, industry leader in online home sales, and featured on America's Most Trustworthy Companies by Newsweek—announced that the Company's Century Complete brand is now selling new Freeland, MI, homes in a prime location near Midland, Saginaw and Bay City.

Essex Floor Plan Exterior Rendering | New Construction Homes in Freeland, MI | Quail Hollow by Century Complete

Nandina Floor Plan Exterior Rendering | New Homes in Freeland, MI | Quail Hollow by Century Complete "Quail Hollow offers an attractive variety of one- and two-story floor plans—complete with basements—that are designed to enhance modern living and provide long-term value," said Regional President Steve Karhnak. "It's the perfect time to explore available homes and find your best fit."

A "Dusty Boots" tour of under-construction homes will take place at Quail Hollow on Saturday, June 13, from 10 a.m. to 3 p.m. at 9267 Silent Breeze Drive, Freeland, MI 48623.

Learn more and RSVP for the Dusty Boots event at www.CenturyCommunities.com/QuailHollowMI.

Floor plans at Quail Hollow offer up to 2,014 square feet and four bedrooms. One- and two-story options showcase desirable included features such as LG® stainless-steel appliances, quartz countertops, Kohler® fixtures, and luxury vinyl plank flooring. All floor plans will also come with basements.

QUAIL HOLLOW | FREELAND, MI
Now selling from the low $300s

One- and two-story floor plans Up to four bedrooms, 3 bathrooms and 2,014 square feet 2-bay attached garages Open-concept layouts with basements, owner's suites with walk-in closets and attached baths, main-floor bedrooms (select plans), great rooms, and upstairs laundry rooms Quartz countertops, LG® stainless-steel appliances, Kohler® fixtures, luxury vinyl plank flooring, and more included Convenient access to Saginaw, Bay City, and Midland Less than five miles to MBS International Airport Near Freeland SportsZone and Hayes Park Less than three miles from elementary, middle, and high schools in the well-rated Freeland Community School District Location:
Stone Briar Lane
Freeland, MI 48623
248.621.2895

VISIT OUR SALES STUDIO
While our state-of-the-art online homebuying process allows you to buy on your terms—24 hours a day, 7 days a week, 365 days a year—we also offer in-person assistance from local experts at our Sales Studio.

Brighton Studio
8373 W. Grand River Avenue
Brighton, MI 48116
248.621.2895

THE FREEDOM OF ONLINE HOMEBUYING

Century Complete is proud to feature its industry-first online homebuying experience on all available homes in Michigan, allowing homebuyers to easily find their best fit and purchase when they're ready—all while continuing to work with their local real estate agent of choice. Homebuyers can further streamline the homebuying process by financing online with Century Complete's affiliate lender, Inspire Home Loans®.

How it works:

Shop homes at CenturyCommunities.com Click "Buy Now" on any available home Fill out a quick Buy Online form Electronically submit an initial earnest money deposit Electronically sign a purchase contract via DocuSign® Learn more about the Buy Online experience at www.CenturyCommunities.com/online-homebuying.

About Century Communities
Century Communities, Inc. (NYSE: CCS) is one of the nation's largest homebuilders and a recognized industry leader in online home sales. Newsweek has named the Company one of America's Most Trustworthy Companies for four consecutive years. Century Communities has also been designated as one of U.S. News & World Report's Best Companies to Work For (2025–2026). Through its Century Communities and Century Complete brands, Century's mission is to build attractive, high-quality homes at affordable prices to provide its valued customers with A HOME FOR EVERY DREAM®. Century is engaged in all aspects of homebuilding — including the acquisition, entitlement and development of land, along with the construction, innovative marketing and sale of quality homes designed to appeal to a wide range of homebuyers. The Company operates in 16 states and over 45 markets across the U.S., and also offers mortgage, title, insurance brokerage, and escrow services in select markets through its Inspire Home Loans, Parkway Title, IHL Home Insurance Agency, and IHL Escrow subsidiaries. To learn more about Century Communities, please visit www.centurycommunities.com.

SOURCE Century Communities, Inc.

June 13 event marks the debut of new single-family homes and community parks in a prime location with unique access to both Highway 359 and FM 1093

, /PRNewswire/ --

Key Takeaways:

Model Exterior | Fulshear Junction by Century Communities | New Construction Homes in Fulshear, TX

Model Kitchen | Fulshear Junction by Century Communities | Single-Family Homes in Fulshear, TX

Aerial Photo of Fulshear Junction | New Homes in Fulshear, TX by Century Communities Fulshear Junction to host Grand Opening event on June 13, officially welcoming homebuyers to the anticipated mixed-use community in Fulshear, Texas—the nation's second-fastest-growing city. Single-family homes with parks, in a walkable setting to nearby commercial and downtown Fulshear New homes now selling from the high $300s, with six floor plans and a model home available for tour Community offers unique access to both Highway 359 and FM 1093 Zoned to Lamar Consolidated Independent School District Century Communities, Inc. (NYSE: CCS)—a top national homebuilder, industry leader in online home sales, and featured on America's Most Trustworthy Companies by Newsweek—announced a Grand Opening event to be held on June 13 from 12 to 3 p.m. for Fulshear Junction, officially opening the doors to the anticipated single-family home community in Fulshear, Texas, the nation's second-fastest-growing city.

The celebratory event will feature tours of Fulshear Junction's new model home—showcasing the two-story Savannah floor plan—a look at available homes under construction, ready for move-in this summer, and special Grand Opening savings opportunities. Attendees will also have the opportunity to explore neighborhood parks, playgrounds, and preserved green spaces.

Learn more, explore available homes, and RSVP for the Grand Opening at www.CenturyCommunities.com/FulshearJunctionGO.

"Fulshear Junction represents the next chapter of growth for this thriving area, bringing to life a thoughtfully connected setting where new homes, commercial opportunities, and natural spaces come together. It's also just down the road from our other exceptional communities in this fast-growing area: Fulshear Lakes in Fulshear and Laurel Farms in Brookshire," said Tanya Rizzo, Division President for Century Communities in Houston. "With Fulshear Junction, we're proud to deliver a community that balances natural surroundings, preserved tree lines, and multiple parks with convenient access to key corridors like Highway 359 and FM 1093."

Community Highlights:

New single-family homes in a growing west Houston location Walkable community with parks, green space, and future on-site commercial offerings Parks, playground, walking paths, and preserved tree lines Convenient access to Highway 359 and FM 1093 Served by Lamar Consolidated Independent School District Home Features:

Six thoughtfully designed floor plans Up to five bedrooms and up to 3.5 bathrooms Two-bay garages Front porch living Move-in package, upgraded tile, smart home package and more included Model home for tour (Savannah plan) Pricing from the high $300s Sales Office:
8427 Monorail Drive
Fulshear, TX 77441
281.698.1160

THE FREEDOM OF ONLINE HOMEBUYING:
Century Communities is proud to feature its industry-first online homebuying experience on all available homes in Houston.

How it works:

Shop homes at CenturyCommunities.com Click "Buy Now" on any available home Fill out a quick Buy Online form Electronically submit an initial earnest money deposit Electronically sign a purchase contract via DocuSign® Learn more about the Buy Online experience at www.CenturyCommunities.com/online-homebuying.

About Century Communities
Century Communities, Inc. (NYSE: CCS) is one of the nation's largest homebuilders and a recognized industry leader in online home sales. Newsweek has named the Company one of America's Most Trustworthy Companies for four consecutive years. Century Communities has also been designated as one of U.S. News & World Report's Best Companies to Work For (2025–2026). Through its Century Communities and Century Complete brands, Century's mission is to build attractive, high-quality homes at affordable prices to provide its valued customers with A HOME FOR EVERY DREAM®. Century is engaged in all aspects of homebuilding — including the acquisition, entitlement and development of land, along with the construction, innovative marketing and sale of quality homes designed to appeal to a wide range of homebuyers. The Company operates in 16 states and over 45 markets across the U.S., and also offers mortgage, title, insurance brokerage, and escrow services in select markets through its Inspire Home Loans, Parkway Title, IHL Home Insurance Agency, and IHL Escrow subsidiaries. To learn more about Century Communities, please visit www.centurycommunities.com.

SOURCE Century Communities, Inc.

Quarterly revenue of $1.378 billion and adjusted EBITDA of $166 million;
GAAP income of $1.59/share and adjusted EPS of $2.10

DALLAS, May 07, 2026 (GLOBE NEWSWIRE) -- AMN Healthcare Services, Inc. (NYSE: AMN), the leader and innovator in total talent solutions for healthcare organizations across the United States, today announced its first quarter 2026 financial results. Financial highlights are as follows:

Dollars in millions, except per share amounts.

 Q1 2026% Change Q1 2025Revenue$1,378.4100%Gross profit$368.886%Net income$62.2nmGAAP diluted EPS$1.59nmAdjusted diluted EPS*$2.10366%Adjusted EBITDA*$166.1159%    * See “Non-GAAP Measures” below for a discussion of our use of non-GAAP items and the table entitled “Non-GAAP Reconciliation Tables” for a reconciliation of non-GAAP items.

Business Highlights

First quarter revenue and earnings exceeded guidance with labor disruption, travel nurse, allied, and international nurse exceeding expectations.Travel nursing volume and revenue grew year over year for the first time since 2022.Allied, schools, international nurse, and search also delivered year-over-year revenue growth.Cash flow from operations of $562 million and our quarter-end cash balance of $561 million benefited from favorable timing of working capital related to recent labor disruption events.We ended the quarter with $750 million of debt, an undrawn revolving credit facility and a leverage ratio, calculated under the terms of our credit agreement, of 1.6x. “Our first quarter performance demonstrated strong execution across AMN, with results exceeding our expectations and guidance while navigating a dynamic market environment,” said Cary Grace, President and Chief Executive Officer of AMN Healthcare. “We delivered solid underlying growth in Nurse and Allied Solutions, saw momentum return in international staffing and search, and continued to advance our technology-enabled workforce solutions. The AMN team did an outstanding job supporting our clients and healthcare professionals, demonstrating the power of our enhanced technology platform and solutions to deliver at our highest level since the pandemic.”

First Quarter 2026 Results

Consolidated revenue for the quarter was $1.378 billion, a 100% increase from prior year and an 84% increase from the prior quarter. Net income was $62 million (4.5% of revenue), or $1.59 per diluted share, compared with net loss of $1 million (0.2% of revenue), or ($0.03) per diluted share in the first quarter of 2025. Adjusted diluted EPS in the first quarter was $2.10 compared with $0.45 in the same quarter a year ago.

Revenue for the Nurse and Allied Solutions segment was $1.127 billion, higher by 173% year over year and up 130% from the prior quarter. Travel nurse staffing revenue was higher by 12% year over year and 16% sequentially. Allied division revenue increased 3% year over year and sequentially. Labor disruption events contributed $722 million revenue in the quarter.

The Physician and Leadership Solutions segment reported revenue of $164 million, down 6% year over year and 3% lower sequentially. Locum tenens revenue was $131 million, down 7% year over year and 4% sequentially. Interim leadership revenue was down by 4% year over year and 5% lower sequentially. Our search businesses saw revenue increase by 4% both year over year and sequentially.

Technology and Workforce Solutions segment revenue was $87 million, a decrease of 15% year over year and 1% sequentially. Language services revenue was $69 million in the quarter, down 8% from the prior year and down 1% sequentially. Vendor management systems revenue was $16 million, 18% lower year over year and down 2% from the prior quarter.

Consolidated gross margin was 26.8%, 190 basis points lower year over year and up 70 basis points sequentially. Higher margins in the Nurse and Allied Solutions and Technology and Workforce Solutions segments drove the sequential improvement.

Consolidated SG&A expenses were $218 million, or 15.8% of revenue, compared with $148 million, or 21.4% of revenue, in the same quarter last year. SG&A was $152 million, or 20.3% of revenue, in the previous quarter. The year-over-year increase in SG&A costs was driven primarily by expenses related to the large labor disruption events in the quarter.

Income from operations was $117 million with an operating margin of 8.5%, compared with income of $13 million and 1.8%, respectively, in the same quarter last year. Adjusted EBITDA was $166 million, a year-over-year increase of 159%. Adjusted EBITDA margin was 12.1%, 280 basis points higher than the year-ago period.

At March 31, 2026, cash and cash equivalents totaled $561 million. Cash flow from operations was $562 million for the first quarter. The cash balance and cash flow benefited from favorable timing of working capital related to labor disruption events resulting in $367 million of client deposits at quarter end that will be settled in the coming months. Capital expenditures were $7 million. The Company ended the quarter with total debt outstanding of $750 million with nothing drawn on our revolving credit facility.

Second Quarter 2026 Outlook

MetricGuidance*Consolidated revenue$620 - $635 millionGross margin28.0% - 28.5%SG&A as percentage of revenue23.0% - 23.5%Operating margin(0.6%) - 0.1%Adjusted EBITDA margin6.7% - 7.2% *Note: Guidance percentage metrics are approximate.   For a reconciliation of adjusted EBITDA margin, see the table entitled “Reconciliation of Guidance Operating Margin to Guidance Adjusted EBITDA Margin” below.

Revenue in the second quarter of 2026 is expected to be 4-6% lower than the prior year, or down 3-5% excluding labor disruption revenue of approximately $10 million this quarter compared with $16 million in the second quarter of 2025. Nurse and Allied Solutions segment revenue is expected to be down 0-2% year over year. Physician and Leadership Solutions segment revenue is expected to be down 6-8% year over year. Technology and Workforce Solutions segment revenue is projected to be down 14-16% year over year, including a (4%) effect from the divestiture of Smart Square at the beginning of third quarter 2025.

Second quarter estimates for certain other financial items include depreciation of $15 million, depreciation in cost of revenue of $2.5 million, non-cash amortization expense of $18 million, share-based compensation expense of $7 million, integration and other expenses of $3 million, interest expense of $8 million, marginal adjusted tax rate of 28%, and 39.3 million diluted average shares outstanding.

Conference Call on May 7, 2026

AMN Healthcare Services, Inc. (NYSE: AMN) will host a conference call to discuss its first quarter 2026 financial results and second quarter 2026 outlook on Thursday, May 7, 2026 at 5:00 p.m. Eastern Time. A live webcast of the call can be accessed through AMN Healthcare’s website at http://ir.amnhealthcare.com. Interested parties may participate live via telephone by registering at this link. Registrants will receive confirmation and dial-in details. Following the conclusion of the call, a replay of the webcast will be available at the Company’s investor relations website.

About AMN Healthcare

AMN Healthcare is the leader and innovator in total talent solutions for healthcare organizations across the United States. The Company provides access to the most comprehensive network of quality healthcare professionals through its innovative recruitment strategies and breadth of career opportunities. With insights and expertise, AMN Healthcare helps providers optimize their workforce to successfully reduce complexity, increase efficiency and improve patient outcomes. AMN total talent solutions include managed services programs, clinical and interim healthcare leaders, temporary staffing, direct hire and retained search solutions, vendor management systems, recruitment process outsourcing, predictive modeling, language interpretation services, revenue cycle solutions, credentialing, and other services. Clients include acute-care hospitals, community health centers and clinics, physician practice groups, retail and urgent care centers, home health facilities, schools, and many other healthcare settings. AMN Healthcare is committed to fostering and maintaining a diverse team that reflects the communities we serve. Our commitment to the inclusion of many different backgrounds, experiences and perspectives enables our innovation and leadership in the healthcare services industry.
The Company’s common stock is listed on the New York Stock Exchange under the symbol “AMN.” For more information about AMN Healthcare, visit www.amnhealthcare.com, where the Company posts news releases, investor presentations, webcasts, SEC filings and other material information. The Company also utilizes email alerts and Really Simple Syndication (“RSS”) as routine channels to supplement distribution of this information. To register for email alerts and RSS, visit http://ir.amnhealthcare.com.

Non-GAAP Measures

This earnings release and the non-GAAP reconciliation tables included with the earnings release contain certain non-GAAP financial information, which the Company provides as additional information, and not as an alternative, to the Company’s condensed consolidated financial statements presented in accordance with GAAP. These non-GAAP financial measures include (1) adjusted EBITDA, (2) adjusted EBITDA margin, (3) adjusted net income, and (4) adjusted diluted EPS. The Company provides such non-GAAP financial measures because management believes that they are useful to both management and investors as a supplement, and not as a substitute, when evaluating the Company’s operating performance. Additionally, management believes that adjusted EBITDA, adjusted EBITDA margin, and adjusted diluted EPS serve as industry-wide financial measures. The Company uses adjusted EBITDA for making financial decisions, allocating resources and for determining certain incentive compensation objectives. The non-GAAP measures in this release are not in accordance with, or an alternative to, GAAP measures and may be different from non-GAAP measures, or may be calculated differently than other similarly titled non-GAAP measures, reported by other companies. They should not be used in isolation to evaluate the Company’s performance. A reconciliation of non-GAAP measures identified in this release, along with further detail about the use and limitations of certain of these non-GAAP measures, may be found below in the table entitled “Non-GAAP Reconciliation Tables” under the caption entitled “Reconciliation of Non-GAAP Items” and the footnotes thereto or on the Company’s website at https://ir.amnhealthcare.com/financials/quarterly-results. Additionally, from time to time, additional information regarding non-GAAP financial measures, including pro forma measures, may be made available on the Company’s website.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among others, statements concerning future demand and supply for healthcare, contingent staffing and other services, client preferences, momentum in international staffing and search, our ability to advance our technology-enabled workforce solutions, settlement of client deposits, second quarter 2026 financial projections for consolidated and segment revenue, consolidated gross margin, operating margin, SG&A as a percent of revenue, adjusted EBITDA margin, labor disruption revenue, depreciation expense, depreciation in cost of revenue, share-based compensation expense, non-cash amortization expense, integration and other expenses, interest expense, adjusted tax rate, and number of diluted shares outstanding. The Company bases these forward-looking statements on its current expectations, estimates and projections about future events and the industry in which it operates using information currently available to it. Actual results could differ materially from those discussed in, or implied by, these forward-looking statements. Forward-looking statements are also identified by words such as “believe,” "project," “anticipate,” “expect,” “intend,” “plan,” “will,” “may,” “estimates,” variations of such words and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements.

The targets and expectations noted in this release depend upon, among other factors, (i) the ability of our clients to increase the efficiency and effectiveness of their staffing management and recruiting efforts, through predictive analytics, online recruiting, internal travel agencies and float pools, telemedicine or otherwise and successfully hire and retain permanent staff, (ii) the duration and extent to which hospitals and other healthcare entities adjust their utilization of temporary nurses and allied healthcare professionals, physicians, healthcare leaders and other healthcare professionals and workforce technology applications as a result of the labor market or economic conditions, (iii) the magnitude and duration of the effects of the post-COVID-19 pandemic environment or any future pandemic or health crisis on demand and supply trends, our business, its financial condition and our results of operations, (iv) our ability to effectively address client demand by attracting and placing nurses and other clinicians, (v) our ability to recruit and retain sufficient quality healthcare professionals at reasonable costs, (vi) our ability to anticipate and quickly respond to changing marketplace conditions, such as alternative modes of healthcare delivery, reimbursement, or client needs and requirements, including implementing changes that will make our services more tech-enabled and integrated, (vii) our ability to manage the pricing impact that the labor market or consolidation of healthcare delivery organizations may have on our business, (viii) the effects of economic downturns, inflation or slow recoveries, which could result in less demand for our services, increased client initiatives designed to contain costs, including reevaluating their approach as it pertains to contingent labor and managed services programs, other solutions and providers, pricing pressures and negatively impact payments terms and collectability of accounts receivable, (ix) our ability to develop and evolve our current technology offerings and capabilities and implement new infrastructure and technology systems to optimize our operating results and manage our business effectively, (x) our ability and the expense to comply with extensive and complex federal and state laws and regulations related to the conduct of our operations, costs and payment for services and payment for referrals as well as laws regarding employment practices, (xi) our ability to consummate and effectively incorporate acquisitions into our business, (xii) the negative effects that intermediary organizations may have on our ability to secure new and profitable contracts, (xiii) the extent to which the Great Resignation or a future spike in the COVID-19 pandemic or other pandemic or health crisis may disrupt our operations due to the unavailability of our employees or healthcare professionals due to burnout, illness, risk of illness, quarantines, travel restrictions, mandatory vaccination requirements, or other factors that limit our existing or potential workforce and pool of candidates, (xiv) security breaches and cybersecurity incidents, including ransomware, that could compromise our information and systems, which could adversely affect our business operations and reputation and could subject us to substantial liabilities and (xv) the severity and duration of the impact the labor market, economic downturn or any future pandemic or health crisis has on the financial condition and cash flow of many hospitals and healthcare systems such that it impairs their ability to make payments to us, timely or otherwise, for services rendered.

For a discussion of additional risk factors and a more complete discussion of some of the cautionary statements noted above that could cause actual results to differ from those implied by the forward-looking statements contained in this press release, please refer to our most recent Annual Report on Form 10-K for the year ended December 31, 2025. Be advised that developments subsequent to this press release are likely to cause these statements to become outdated and the Company is under no obligation (and expressly disclaims any such obligation) to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Contact:
Randle Reece
Vice President, Investor Relations & Strategy
866.861.3229

  AMN Healthcare Services, Inc.
Condensed Consolidated Statements of Comprehensive Income (Loss)
(in thousands, except per share amounts)
(unaudited)
   Three Months Ended March 31, December 31, 2026 2025 2025Revenue$1,378,361  $689,533  $748,225 Cost of revenue 1,009,525   491,413   553,098 Gross profit 368,836   198,120   195,127 Gross margin 26.8%  28.7%  26.1%Operating expenses:     Selling, general and administrative (SG&A) 218,425   147,731   152,113 SG&A as a % of revenue 15.8%  21.4%  20.3%      Depreciation and amortization (exclusive of depreciation included in cost of revenue) 33,240   37,882   34,854 Loss on sale of disposal group —   —   42 Total operating expenses 251,665   185,613   187,009 Income from operations 117,171   12,507   8,118 Operating margin (1) 8.5%  1.8%  1.1%      Interest expense, net, and other 6,712   12,324   12,280       Income (loss) before income taxes 110,459   183   (4,162)      Income tax expense 48,293   1,275   3,534 Net income (loss)$62,166  $(1,092) $(7,696)Net income (loss) as a % of revenue 4.5% (0.2)% (1.0)%      Other comprehensive income (loss):     Unrealized gains (losses) on available-for-sale securities, net, and other (185)  61   (286)Other comprehensive income (loss) (185)  61   (286)      Comprehensive income (loss)$61,981  $(1,031) $(7,982)      Net income (loss) per common share:     Basic$1.60  $(0.03) $(0.20)Diluted$1.59  $(0.03) $(0.20)Weighted average common shares outstanding:     Basic 38,902   38,312   38,733 Diluted 39,118   38,312   38,733        AMN Healthcare Services, Inc.
Condensed Consolidated Balance Sheets
(dollars in thousands)
(unaudited)
          March 31, 2026
 December 31, 2025
 March 31, 2025
Assets        Current assets:        Cash and cash equivalents$560,738  $33,972  $55,777 Accounts receivable, net 394,668   382,560   421,869 Accounts receivable, subcontractor 47,501   48,041   65,307 Prepaid and other current assets 133,613   80,803   84,404 Total current assets 1,136,520   545,376   627,357 Restricted cash, cash equivalents and investments 45,814   45,606   45,070 Fixed assets, net 126,029   136,361   177,996 Other assets 263,408   282,552   253,670 Deferred income taxes, net 11,212   44,877   31,637 Goodwill 755,809   755,809   897,456 Intangible assets, net 265,581   283,526   361,937 Total assets$2,604,373  $2,094,107  $2,395,123          Liabilities and stockholders’ equity        Current liabilities:        Accounts payable and accrued expenses$197,385  $161,968  $195,974 Accrued compensation and benefits 317,137   298,837   269,497 Other current liabilities 529,668   116,809   116,778 Total current liabilities 1,044,190   577,614   582,249 Revolving credit facility —   25,000   150,000 Notes payable, net 742,491   742,053   846,167 Other long-term liabilities 104,886   107,334   101,656 Total liabilities 1,891,567   1,452,001   1,680,072          Commitments and contingencies                 Stockholders’ equity: 712,806   642,106   715,051          Total liabilities and stockholders’ equity$2,604,373  $2,094,107  $2,395,123           AMN Healthcare Services, Inc.
Summary Condensed Consolidated Statements of Cash Flows
(dollars in thousands)
(unaudited)
   Three Months Ended March 31, December 31, 2026 2025 2025      Net cash provided by operating activities$562,452  $92,671  $75,572 Net cash used in investing activities (7,504)  (26,046)  (8,053)Net cash used in financing activities (27,135)  (61,211)  (83,242)Net increase (decrease) in cash, cash equivalents and restricted cash 527,813   5,414   (15,723)Cash, cash equivalents and restricted cash at beginning of period 67,171   89,305   82,894 Cash, cash equivalents and restricted cash at end of period$594,984  $94,719  $67,171              AMN Healthcare Services, Inc.
Non-GAAP Reconciliation Tables
(dollars in thousands, except per share data)
(unaudited)
   Three Months Ended March 31, December 31, 2026 2025 2025Reconciliation of Non-GAAP Items:           Net income (loss)$62,166  $(1,092) $(7,696)Income tax expense 48,293   1,275   3,534 Income (loss) before income taxes 110,459   183   (4,162)Interest expense, net, and other 6,712   12,324   12,280 Income from operations 117,171   12,507   8,118 Depreciation and amortization 33,240   37,882   34,854 Depreciation (included in cost of revenue) (2) 2,420   1,975   2,376 Loss on sale of disposal group —   —   42 Share-based compensation 9,892   9,381   5,762 Acquisition, integration, and other costs (3) 3,402   2,455   3,331 Adjusted EBITDA (4)$166,125  $64,200  $54,483       Adjusted EBITDA margin (5) 12.1%  9.3%  7.3%      Net income (loss)$62,166  $(1,092) $(7,696)Adjustments:     Amortization of intangible assets 17,945   19,427   18,551 Acquisition, integration, and other costs (3) 3,402   2,455   3,331 Loss on sale of disposal group —   —   42 Debt financing related costs —   —   1,156 Tax effect on above adjustments (5,550)  (5,689)  (6,001)Tax effect of COLI fair value changes (6) 2,065   703   (1,713)Tax deficiencies (benefits) related to equity awards and ESPP (7) 2,151   1,523   892 Adjusted net income (8)$82,179  $17,327  $8,562       GAAP diluted net income (loss) per share (EPS)$1.59  $(0.03) $(0.20)Adjustments 0.51   0.48   0.42 Adjusted diluted EPS (9) (10)$2.10  $0.45  $0.22              AMN Healthcare Services, Inc.
Supplemental Segment Financial and Operating Data
(dollars in thousands, except operating data)
(unaudited)
   Three Months Ended March 31, December 31, 2026 2025 2025Revenue     Nurse and allied solutions$1,127,342  $413,261  $490,710 Physician and leadership solutions 163,924   174,065   169,552 Technology and workforce solutions 87,095   102,207   87,963  $1,378,361  $689,533  $748,225       Segment operating income (11)     Nurse and allied solutions$153,330  $32,238  $36,484 Physician and leadership solutions 10,818   14,462   12,918 Technology and workforce solutions 25,270   35,250   24,896   189,418   81,950   74,298 Unallocated corporate overhead (12) 23,293   17,750   19,815 Adjusted EBITDA (4)$166,125  $64,200  $54,483       Gross Margin     Nurse and allied solutions 25.1%  22.7%  21.6%Physician and leadership solutions 26.1%  27.3%  27.5%Technology and workforce solutions 50.0%  55.5%  48.1%            Operating Data:     Nurse and allied solutions     Average travelers on assignment (13) 9,227   8,981   8,722       Physician and leadership solutions     Days filled (14) 46,645   51,342   48,004 Revenue per day filled (15)$2,812  $2,743  $2,834         As of March 31, As of December 31, 2026 2025 2025Leverage ratio (16)1.6 3.1 3.3       AMN Healthcare Services, Inc.
Additional Supplemental Non-GAAP Disclosure
Reconciliation of Guidance Operating Margin to Guidance
Adjusted EBITDA Margin
(unaudited)
   Three Months Ended June 30, 2026 Low(17) High(17)    Operating margin(0.6)% 0.1%Depreciation and amortization (total)5.7% 5.5%EBITDA margin5.1% 5.6%Share-based compensation1.1% 1.1%Integration and other costs0.5% 0.5%Adjusted EBITDA margin6.7% 7.2% (1)Operating margin represents income from operations divided by revenue.(2)A portion of depreciation expense for AMN Language Services is included in cost of revenue. We exclude the impact of depreciation included in cost of revenue from the calculation of adjusted EBITDA.(3)Acquisition, integration, and other costs include acquisition and integration costs, net changes in the fair value of contingent consideration liabilities for recently acquired companies, certain legal expenses, restructuring expenses and other costs associated with exit or disposal activities, and certain nonrecurring expenses, which we exclude from the calculation of adjusted EBITDA, adjusted net income, and adjusted diluted EPS because we believe that these expenses are not indicative of the Company’s operating performance. For the three months ended March 31, 2026, acquisition and integration costs were approximately $0.9 million, certain legal expenses were approximately $1.0 million, restructuring expenses and other costs associated with exit or disposal activities were approximately $0.6 million, and other nonrecurring expenses were approximately $0.9 million. For the three months ended March 31, 2025, acquisition and integration costs were approximately $0.3 million, expenses related to the closures of certain office leases were approximately $0.2 million, certain legal expenses were approximately $1.1 million, restructuring expenses and other costs associated with exit or disposal activities were approximately $0.4 million, and other nonrecurring expenses were approximately $0.4 million. For the three months ended December 31, 2025, acquisition and integration costs were approximately $0.5 million, certain legal expenses were approximately $0.8 million, expenses related to the closures of certain office leases were approximately $0.2 million, restructuring expenses and other costs associated with exit or disposal activities were approximately $0.8 million, and other expenses were approximately $1.0 million.(4)Adjusted EBITDA represents net income (loss) plus interest expense (net of interest income) and other, income tax expense, depreciation and amortization, depreciation (included in cost of revenue), loss on sale of disposal group, share-based compensation, acquisition, integration, and other costs, restructuring expenses, and certain legal expenses. Management believes that adjusted EBITDA provides an effective measure of the Company’s results, as it excludes certain items that management believes are not indicative of the Company’s operating performance. Adjusted EBITDA is not intended to represent cash flows for the period, nor has it been presented as an alternative to income from operations or net income (loss) as an indicator of operating performance. Although management believes that some of the items excluded from adjusted EBITDA are not indicative of the Company’s operating performance, these items do impact the statement of comprehensive income (loss), and management therefore utilizes adjusted EBITDA as an operating performance measure in conjunction with GAAP measures such as net income (loss).(5)Adjusted EBITDA margin represents adjusted EBITDA divided by revenue.(6)The Company records net tax expense (benefit) related to the income tax treatment of the fair value changes in the cash surrender value of its company owned life insurance (“COLI”). Since this change in fair value is unrelated to the Company’s operating performance, we excluded the impact on adjusted net income and adjusted diluted EPS.(7)The consolidated effective tax rate is affected by the recording of tax benefits and tax deficiencies related to equity awards vested during the period and tax benefits recognized for disqualifying dispositions related to our employee stock purchase plan (“ESPP”). The magnitude of the impact of tax benefits and tax deficiencies generated in the future related to equity awards and ESPP is dependent upon the Company’s future grants of share-based compensation, the Company’s future stock price on the date equity awards vest in relation to the fair value of the awards on the grant date, the Company’s future stock price on either the ESPP’s offering date or purchase date, whichever is lower, and the length of time the shares issued under the ESPP are held by employees. Since these tax benefits and tax deficiencies related to equity awards and ESPP are largely unrelated to our income (loss) before income taxes and are unrepresentative of our normal effective tax rate, we excluded their impact in the calculation of adjusted net income and adjusted diluted EPS.(8)Adjusted net income represents GAAP net income (loss) excluding the impact of the (A) amortization of intangible assets, (B) acquisition, integration, and other costs, (C) loss on sale of disposal group, (D) deferred financing related costs, (E) tax effect, if any, of the foregoing adjustments, (F) net tax expense (benefit) related to the income tax treatment of fair value changes in the cash surrender value of its COLI and (G) tax deficiencies and tax benefits related to equity awards vested and ESPP. Management included this non-GAAP measure to provide investors and prospective investors with an alternative method for assessing the Company’s operating results in a manner that is focused on its operating performance and to provide a more consistent basis for comparison between periods. However, investors and prospective investors should note that this non-GAAP measure involves judgment by management (in particular, judgment as to what is classified as a special item to be excluded in the calculation of adjusted net income). Although management believes the items in the calculation of adjusted net income are not indicative of the Company’s operating performance, these items do impact the statement of comprehensive income (loss), and management therefore utilizes adjusted net income as an operating performance measure in conjunction with GAAP measures such as GAAP net income (loss).(9)Adjusted diluted EPS represents adjusted net income divided by diluted weighted average common shares outstanding. Management included this non-GAAP measure to provide investors and prospective investors with an alternative method for assessing the Company’s operating results in a manner that is focused on its operating performance and to provide a more consistent basis for comparison between periods. However, investors and prospective investors should note that this non-GAAP measure involves judgment by management (in particular, judgment as to what is classified as a special item to be excluded in the calculation of adjusted net income). Although management believes the items in the calculation of adjusted net income are not indicative of the Company’s operating performance, these items do impact the statement of comprehensive income (loss), and management therefore utilizes adjusted diluted EPS as an operating performance measure in conjunction with GAAP measures such as GAAP diluted EPS.(10)As GAAP net loss is reported for the three months ended March 31, 2025 and December 31, 2025, basic weighted average common shares outstanding was used to calculate GAAP diluted EPS for those periods because the dilutive potential common shares have an anti-dilutive effect (i.e., result in a lower loss per share). As adjusted net income is reported for the three months ended March 31, 2025 and December 31, 2025, diluted weighted average common shares outstanding (including dilutive potential common shares) of 38,414 and 38,817, respectively, were used to calculate adjusted diluted EPS.(11)Segment operating income represents net income (loss) plus interest expense (net of interest income) and other, income tax expense (benefit), depreciation and amortization, depreciation (included in cost of revenue), unallocated corporate overhead, acquisition, integration, and other costs, legal settlement accrual changes, share-based compensation, and loss on sale of disposal group.(12)Unallocated corporate overhead (as presented in the tables above) consists of unallocated corporate overhead (as reflected in our quarterly and annual financial statements filed with the SEC) less acquisition, integration, and other costs and legal settlement accrual changes.(13)Average travelers on assignment represents the average number of nurse and allied healthcare professionals on assignment during the period presented.(14)Days filled is calculated by dividing the locum tenens hours filled during the period by eight hours.(15)Revenue per day filled represents revenue of the Company’s locum tenens business divided by days filled for the period presented.(16)Leverage ratio represents the ratio of the consolidated funded indebtedness (as calculated per the Company’s credit agreement) at the end of the subject period to the consolidated adjusted EBITDA (as calculated per the Company’s credit agreement) for the twelve-month period ended at the end of the subject period.(17)Guidance percentage metrics are approximate.
  

AMN Healthcare Services (AMN - Free Report) came out with quarterly earnings of $2.1 per share, beating the Zacks Consensus Estimate of $1.6 per share. This compares to earnings of $0.45 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +30.98%. A quarter ago, it was expected that this health care staffing company would post earnings of $0.22 per share when it actually produced earnings of $0.22, delivering no surprise.

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

AMN Healthcare, which belongs to the Zacks Business - Services industry, posted revenues of $1.38 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 11.90%. This compares to year-ago revenues of $689.53 million. The company has topped consensus revenue estimates four times over the last four quarters.

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

AMN Healthcare shares have added about 33.1% since the beginning of the year versus the S&P 500's gain of 7.6%.

What's Next for AMN Healthcare?While AMN Healthcare 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 AMN Healthcare was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.10 on $627.69 million in revenues for the coming quarter and $1.93 on $3.14 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, Business - Services is currently in the top 32% 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.

Priority Technology (PRTH - Free Report) , another stock in the broader Zacks Business Services sector, has yet to report results for the quarter ended March 2026. The results are expected to be released on May 11.

This company is expected to post quarterly earnings of $0.22 per share in its upcoming report, which represents no change from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Priority Technology's revenues are expected to be $240.35 million, up 7% from the year-ago quarter.

For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Is AMN Healthcare Services (AMN - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.

AMN Healthcare Services is a member of our Business Services group, which includes 234 different companies and currently sits at #10 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. AMN Healthcare Services is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for AMN's full-year earnings has moved 164.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

According to our latest data, AMN has moved about 42.5% on a year-to-date basis. In comparison, Business Services companies have returned an average of -10.1%. This means that AMN Healthcare Services is outperforming the sector as a whole this year.

HireQuest, Inc. (HQI - Free Report) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 16.3%.

Over the past three months, HireQuest, Inc.'s consensus EPS estimate for the current year has increased 6%. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, AMN Healthcare Services belongs to the Business - Services industry, a group that includes 20 individual companies and currently sits at #68 in the Zacks Industry Rank. This group has lost an average of 13.2% so far this year, so AMN is performing better in this area.

On the other hand, HireQuest, Inc. belongs to the Staffing Firms industry. This 13-stock industry is currently ranked #155. The industry has moved +7.1% year to date.

Going forward, investors interested in Business Services stocks should continue to pay close attention to AMN Healthcare Services and HireQuest, Inc. as they could maintain their solid performance.

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DALLAS, May 13, 2026 (GLOBE NEWSWIRE) -- AMN Healthcare, the leader and innovator in total talent solutions for healthcare organizations, announced the election of Eric Palmer to its Board of Directors, effective May 1, 2026.

Palmer is a seasoned healthcare executive with more than 25 years of leadership experience across healthcare services, benefits, and insurance industries. He has a strong track record of leading large-scale operations, driving strategic growth initiatives, and executing complex mergers, acquisitions, and divestitures.

“Eric’s extensive leadership experience, understanding of the healthcare ecosystem and alignment to our mission make him a valuable addition to our Board,” said Cary Grace, President and CEO of AMN Healthcare. “His proven ability to scale complex organizations and navigate dynamic market environments will strengthen our governance and support AMN’s long-term growth strategy.”

Palmer most recently served as Chief Executive Officer of Evernorth Health Services, where he led the organization’s growth to more than $200 billion in revenue, establishing it as a market leader in specialty pharmacy, pharmacy benefits, and care management services. Prior to that, he served as Chief Financial Officer of Cigna, where he played a central role in driving the transformational acquisition of Express Scripts, successfully combining two Fortune 100 companies.

“AMN’s commitment to empowering healthcare organizations and professionals deeply aligns with the work I’ve done throughout my career,” said Palmer. “I am honored to join the Board and am excited to support AMN’s mission to empower high-quality care through innovative workforce solutions.”

Palmer currently serves on the board of directors of LifeStance Health and is on the board of trustees of Kingswood-Oxford School and Connecticut Children’s Medical Center.

For more information about AMN Healthcare’s leadership team, please visit www.amnhealthcare.com.

About AMN Healthcare
AMN Healthcare is the leader and innovator in total talent solutions for healthcare, bringing together the people, processes and technology to deliver better care. Through a steadfast partnership approach, we solve the most pressing workforce challenges to enable better clinical outcomes and access to care. In 2025 our healthcare professionals reached more than 13 million patients at more than 2,300 healthcare systems, including 93 percent of the top healthcare systems nationwide. We provide a comprehensive network of quality healthcare professionals and deliver a fully integrated and customizable suite of workforce technologies.

AMN Healthcare Services, Inc. (AMN) Presents at Bank of America Global Healthcare Conference 2026 Transcript

Investors in AMN Healthcare Services (AMN - Free Report) need to pay close attention to the stock based on moves in the options market lately. That is because the Dec 18, 2026 $05.00 Call had some of the highest implied volatility of all equity options today.

What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.

What do the Analysts Think?Clearly, options traders are pricing in a big move for AMN Healthcare Services share, but what is the fundamental picture for the company? Currently, AMN Healthcare Services is a Zacks Rank #3 (Hold) in the Business - Services Industry that ranks in the Top 39% of our Zacks Industry Rank. Over the last 60 days, one analyst has increased his estimate for the current quarter, while none have revised their estimates downward. The net effect has taken our Zacks Consensus Estimate for the current quarter to move from 10 cents per share to 188 cents per share in the same time period.

Given the way analysts feel about AMN Healthcare Services right now, this huge implied volatility could mean there’s a trade developing. Often times, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.

Key Takeaways AMN shares are up 86.1% YTD, even as the industry declined 17.4% over the same stretch.AMN posted $722M labor disruption revenues in Q1 2026, handling five events and deploying thousands.AMN faces tech and language pricing pressure: segment revenues fell 15% YoY and language services lost 8%. AMN Healthcare Services, Inc. (AMN - Free Report) is well-poised for growth in the coming quarters, courtesy of its broad array of services. The optimism is led by strong momentum in its Managed Services Program (MSP), rising labor disruption demand and investments in technology and AI-driven platforms. However, industry shifts, pricing pressure and healthcare cost-consciousness are major downsides.

Shares of this Zacks Rank #3 (Hold) company have jumped 86.1% in the year-to-date period against the industry's 17.4% decline. However, the S&P 500 Index has risen 11.1% in the said timeframe.

This renowned player in the healthcare total talent services space has a market capitalization of $1.12 billion. The company projects 98.5% of earnings growth for 2026 and expects to witness continued improvements in its business. AMN Healthcare surpassed the Zacks Consensus Estimate in all the trailing four quarters, delivering an average earnings surprise of 53.25%.

Image Source: Zacks Investment Research

Factors Favoring AMN StockHealthcare MSP: AMN Healthcare continues to expand its Managed Services Program (MSP) presence as healthcare organizations seek more efficient workforce management solutions. During first-quarter 2026, management noted that many clients have shifted their focus from reducing contract labor usage to optimizing total workforce costs through predictive analytics, workforce planning and technology-enabled staffing strategies.

First-quarter 2026 results highlighted the model’s scalability during multiple labor disruption events, and management added a new locum MSP client and expanded its largest locums contract. As healthcare providers seek strategic workforce partners rather than transactional staffing vendors, AMN’s MSP capabilities position it to deepen client relationships, improve retention and capture additional market share over time.

AI and Workforce Technology Investments Enhancing Scalability: AMN Healthcare continues to invest in AI, automation and analytics to improve hiring efficiency and clinician engagement. In first-quarter 2026, travel nurse revenues rose 13% year over year, allied revenues increased 3%, international staffing returned to growth and leadership search expanded. AMN also demonstrated rapid scalability during major labor disruptions. Through its WorkWise workforce technology platform, the company rolled out AI-driven candidate scoring, search and job-description tools. Its AI recruiter deployed over 10,000 clinicians. AMN Passport users grew over 30%, monthly active users rose over 50% and language services delivered sequential gross margin improvement.

Labor Disruption Capabilities Creating a Competitive Advantage: AMN’s ability to support multiple large labor disruption events emerged as a major strength in the first quarter of 2026. The company generated $722 million in labor disruption revenues while successfully managing five labor disruption events. Management highlighted that investments in event management systems, AI-enabled recruiting tools and scalable operating processes allowed AMN to rapidly deploy thousands of clinicians.

These capabilities strengthen relationships with strategic healthcare clients and reinforce AMN’s position as a trusted workforce partner during critical situations. The company believes this level of execution would not have been possible a few years ago, underscoring the value of its technology investments and broad clinician network.

Downsides of AMN StockHealthcare Cost-Consciousness Limiting Growth: Hospital systems remain heavily focused on workforce cost management despite improving patient utilization trends. Clients continue to prioritize efficiency, predictive workforce planning and labor optimization rather than expanding staffing budgets.

Bill-rate growth remains limited, with increases largely occurring only when difficult-to-fill positions create urgent staffing needs. AMN noted that healthcare providers are increasingly evaluating technology, analytics and workforce planning tools to improve internal staffing efficiency. Continued emphasis on cost containment could restrict demand growth, slow pricing recovery and create a challenging environment for staffing providers across several service lines.

Continued Pricing Pressure in Technology and Language Services: AMN’s Technology and Workforce Solutions segment remains under pressure from competitive pricing dynamics. Segment revenues declined 15% year over year, while language services revenues fell 8%. Management indicated that pricing pressure persists across the language services market, although conditions have become more stable than in prior periods.

The company has implemented service model changes, including greater offshore utilization and operational efficiencies, to protect profitability. However, management expects competition to remain intense and acknowledged that pricing headwinds could continue as contracts renew, creating ongoing pressure on revenue growth and margins.

Healthcare Industry Regulations: AMN Healthcare operates in a highly regulated industry subject to federal and state laws governing reimbursement, workforce practices, privacy, cybersecurity and AI usage. Although clients pay AMN directly, changes in Medicare and Medicaid reimbursement can indirectly affect demand and pricing, while client non-compliance may reduce business activity. The company also serves government clients and must meet specific regulatory requirements. Increasing regulation could raise compliance costs and operational risks. In addition, changes in immigration policies remain an important variable for international nurse staffing, which returned to year-over-year growth in first-quarter 2026 after a period of weakness.

Estimate TrendAMN Healthcare has been witnessing a positive estimate revision trend for 2026. Over the past 60 days, the Zacks Consensus Estimate for its earnings per share has improved 37.7% to $2.70.

The Zacks Consensus Estimate for second-quarter 2026 revenues and earnings per share is pegged at $625.7 million and 22 cents, respectively, suggesting 4.9% and 26.7% declines from the year-ago reported numbers.

Key PicksSome better-ranked stocks in the broader medical space are West Pharmaceutical Services (WST - Free Report) , Align Technology (ALGN - Free Report) and Biodesix (BDSX - Free Report) . While West Pharmaceutical Services and Align Technology sport a Zacks Rank #1 (Strong Buy) each at present, Biodesix carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

West Pharmaceutical Services has an estimated long-term growth rate of 13.9%. WST's earnings surpassed estimates in each of the trailing four quarters, with the average being 19.4%.

West Pharmaceutical Services’ stock has gained 14.9% against the industry's 9.3% decline in the year-to-date period.

Align Technology's earnings surpassed estimates in three of the trailing four quarters and missed one, with the average surprise being 7.8%.

ALGN's shares have risen 8.7% in the year-to-date period against the industry’s 9.3% decline.

Biodesix's earnings surpassed estimates in three of the trailing four quarters and missed one, with the average surprise being 25.6%.

BDSX's shares have rallied 124.6% in the year-to-date period against the industry’s 9.7% decline.

AMN Healthcare Services, Inc. (AMN) Presents at Goldman Sachs 47th Annual Global Healthcare Conference 2026 Transcript

A month has gone by since the last earnings report for Element Solutions (ESI - Free Report) . Shares have lost about 6.1% in that time frame, underperforming the S&P 500.

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

Element Solutions’ Q4 Earnings & Revenues Surpass EstimatesElement Solutions recorded earnings of 3 cents per share for the fourth quarter of 2025 compared with 23 cents in the year-ago quarter.  

Barring one-time items, earnings were 37 cents per share. The figure beat the Zacks Consensus Estimate of 36 cents.  

The company generated net sales of $676.2 million, up roughly 8% year over year. The figure beat the Zacks Consensus Estimate of $623.9 million. Organic net sales rose 10%.  

Element Solutions saw strong growth in the electronics business. The divestitures impacted the Specialties segment sales in the quarter. 

Segment HighlightsNet sales in the Electronics segment rose 21% year over year to $487.3 million in the reported quarter. Organic net sales were up 13% from the year-ago number. The figure beat the consensus estimate of $436 million.  

In the Specialties segment, net sales declined 15% year over year to $188.9 million, with organic net sales increasing by 4%. However, the figure beat the consensus estimate of $188 million.  

Financial PositionElement Solutions ended the quarter with cash and cash equivalents of $626.5 million, up around 74.3% from the year-ago quarter. Long-term debt was $1,625.9 million at the end of the quarter, down from $1,813.6 million a year ago.  

Cash from operating activities was $91.1 million, while free cash flow was $82.8 million for the reported quarter.  

Q1 & 2026 OutlookThe company anticipates full-year 2026 adjusted EBITDA in the range of $650 million to $670 million. Element Solutions expects first-quarter 2026 adjusted EBITDA to be between $140 million and $155 million.

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

VGM ScoresCurrently, Element Solutions has a average Growth Score of C, however its Momentum Score is doing a bit better with a B. Charting a somewhat similar path, the stock was allocated a grade of C on the value side, putting it in the middle 20% for value investors.

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

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of this revision indicates a downward shift. Notably, Element Solutions has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.

Posted by Defense World Staff on Apr 7th, 2026

Allspring Global Investments Holdings LLC lowered its stake in shares of Element Solutions Inc. (NYSE:ESI – Free Report) by 29.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 286,958 shares of the company’s stock after selling 117,639 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.12% of Element Solutions worth $7,444,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of ESI. Walnut Level Capital LLC purchased a new position in Element Solutions in the second quarter valued at approximately $1,812,000. Vest Financial LLC lifted its stake in Element Solutions by 126.1% in the third quarter. Vest Financial LLC now owns 115,531 shares of the company’s stock valued at $2,908,000 after purchasing an additional 64,433 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Element Solutions by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 8,256,926 shares of the company’s stock worth $207,822,000 after purchasing an additional 139,751 shares during the period. World Investment Advisors bought a new position in Element Solutions during the third quarter worth about $1,185,000. Finally, American Century Companies Inc. increased its stake in shares of Element Solutions by 28.0% in the third quarter. American Century Companies Inc. now owns 4,195,840 shares of the company’s stock worth $105,609,000 after purchasing an additional 916,804 shares in the last quarter. Hedge funds and other institutional investors own 92.32% of the company’s stock.

Analysts Set New Price Targets Several analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of Element Solutions from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. KeyCorp boosted their price target on shares of Element Solutions from $34.00 to $36.00 and gave the company an “overweight” rating in a research report on Thursday, February 19th. BMO Capital Markets boosted their price target on shares of Element Solutions from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Freedom Capital raised shares of Element Solutions to a “strong-buy” rating in a research report on Friday, March 27th. Finally, Bank of America boosted their price target on shares of Element Solutions from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $35.75.

View Our Latest Report on ESI

Element Solutions Trading Down 0.4% Shares of Element Solutions stock opened at $33.95 on Tuesday. Element Solutions Inc. has a 12-month low of $16.77 and a 12-month high of $37.74. The company has a market cap of $8.27 billion, a price-to-earnings ratio of 42.98, a PEG ratio of 1.56 and a beta of 1.23. The company has a current ratio of 3.68, a quick ratio of 3.00 and a debt-to-equity ratio of 0.60. The company’s 50-day moving average price is $32.58 and its 200-day moving average price is $28.54.

Element Solutions (NYSE:ESI – Get Free Report) last announced its quarterly earnings results on Tuesday, February 17th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. Element Solutions had a net margin of 7.48% and a return on equity of 13.79%. The firm had revenue of $676.20 million for the quarter, compared to the consensus estimate of $632.40 million. During the same period in the prior year, the firm posted $0.35 earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities analysts expect that Element Solutions Inc. will post 1.45 earnings per share for the current fiscal year.

Element Solutions Announces Dividend The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, March 2nd. Element Solutions’s dividend payout ratio is presently 40.51%.

Insider Activity In other news, Director E Stanley Oneal sold 143,564 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $35.52, for a total value of $5,099,393.28. Following the sale, the director directly owned 147,832 shares of the company’s stock, valued at approximately $5,250,992.64. This represents a 49.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 6.90% of the company’s stock.

Element Solutions Company Profile (Free Report)

Element Solutions Inc is a global specialty chemicals company that develops and supplies highly engineered chemistries to performance-driven end markets. The company’s solutions serve customers across the electronics, energy, transportation, consumer and industrial sectors, with a particular emphasis on electronics chemicals, metal plating, and industrial coatings additives.

In the electronics market, Element Solutions provides a range of plating and surface-treatment chemistries used in the manufacture of printed circuit boards, semiconductor devices, and advanced display technologies.

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MIAMI--(BUSINESS WIRE)--Element Solutions Inc (NYSE:ESI) ("Element Solutions") announced today that it intends to release its 2026 first quarter financial results after the market close on Tuesday, April 28, 2026. Element Solutions will host a webcast/dial-in conference call to discuss its financial results at 8:30 a.m. (Eastern Time) on Wednesday, April 29, 2026. Participants on the call will include Chief Executive Officer Benjamin Gliklich and Chief Financial Officer Carey J. Dorman. To list.

Element Solutions (ESI - Free Report) came out with quarterly earnings of $0.41 per share, beating the Zacks Consensus Estimate of $0.38 per share. This compares to earnings of $0.34 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +7.90%. A quarter ago, it was expected that this specialty chemical and printing products would post earnings of $0.36 per share when it actually produced earnings of $0.37, delivering a surprise of +2.78%.

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

Element Solutions, which belongs to the Zacks Chemical - Specialty industry, posted revenues of $840 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 12.85%. This compares to year-ago revenues of $593.7 million. The company has topped consensus revenue estimates four times over the last four quarters.

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

Element Solutions shares have added about 61.5% since the beginning of the year versus the S&P 500's gain of 4.8%.

What's Next for Element Solutions?While Element Solutions 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 Element Solutions 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 $0.44 on $795.45 million in revenues for the coming quarter and $1.76 on $3.19 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Chemical - Specialty is currently in the bottom 26% 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, Celanese (CE - Free Report) , is yet to report results for the quarter ended March 2026. The results are expected to be released on May 5.

This chemical company is expected to post quarterly earnings of $0.84 per share in its upcoming report, which represents a year-over-year change of +47.4%. The consensus EPS estimate for the quarter has been revised 10.4% higher over the last 30 days to the current level.

Celanese's revenues are expected to be $2.26 billion, down 5.5% from the year-ago quarter.

Element Solutions Inc (ESI) Q1 2026 Earnings Call Transcript

The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Element Solutions (ESI - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.

Element Solutions is one of 248 companies in the Basic Materials group. The Basic Materials group currently sits at #13 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Element Solutions is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for ESI's full-year earnings has moved 5.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the most recent data, ESI has returned 71.3% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 12% on average. This means that Element Solutions is outperforming the sector as a whole this year.

Carpenter Technology (CRS - Free Report) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 35.8%.

Over the past three months, Carpenter Technology's consensus EPS estimate for the current year has increased 2.2%. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Element Solutions is a member of the Chemical - Specialty industry, which includes 44 individual companies and currently sits at #180 in the Zacks Industry Rank. On average, stocks in this group have gained 9.2% this year, meaning that ESI is performing better in terms of year-to-date returns.

Carpenter Technology, however, belongs to the Steel - Speciality industry. Currently, this 6-stock industry is ranked #231. The industry has moved +30.7% so far this year.

Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Element Solutions and Carpenter Technology as they could maintain their solid performance.

On May 18, 2026, Element Solutions Inc (ESI) shares fell 5.8% to a current price of $39.88. This decline is notable within the context of its 52-week range, whi

MIAMI--(BUSINESS WIRE)--Element Solutions Inc (NYSE: ESI) announced today that its board has declared a quarterly cash dividend of $0.08 per share of the company's common stock. The declared dividend will be paid on June 15, 2026, to stockholders of record as of the close of business on June 1, 2026. About Element Solutions Inc Element Solutions Inc is a leading specialty chemicals technology company whose businesses supply a broad range of solutions that enhance the performance of products peo.

Investors in Element Solutions Inc (ESI - Free Report) need to pay close attention to the stock based on moves in the options market lately. That is because the June 18, 2026 $30.00 Call had some of the highest implied volatility of all equity options today.

What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.

What do the Analysts Think?Clearly, options traders are pricing in a big move for Element Solutions share, but what is the fundamental picture for the company? Currently, Element Solutions is a Zacks Rank #2 (Buy) in the Chemical - Specialty Industry that ranks in the Top 38% of our Zacks Industry Rank. Over the last 60 days, no analyst has increased his estimate for the current quarter, while two have revised their estimates downward. The net effect has taken our Zacks Consensus Estimate for the current quarter to move from 44 cents per share to 43 cents per share in the same time period.

Given the way analysts feel about Element Solutions right now, this huge implied volatility could mean there’s a trade developing. Often times, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.

Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has Element Solutions (ESI - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.

Element Solutions is one of 248 individual stocks in the Basic Materials sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Element Solutions is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for ESI's full-year earnings has moved 1.6% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Our latest available data shows that ESI has returned about 59.4% since the start of the calendar year. In comparison, Basic Materials companies have returned an average of 10.8%. As we can see, Element Solutions is performing better than its sector in the calendar year.

One other Basic Materials stock that has outperformed the sector so far this year is Metallus (MTUS - Free Report) . The stock is up 14.6% year-to-date.

The consensus estimate for Metallus' current year EPS has increased 1.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Element Solutions is a member of the Chemical - Specialty industry, which includes 44 individual companies and currently sits at #109 in the Zacks Industry Rank. This group has gained an average of 10.4% so far this year, so ESI is performing better in this area.

In contrast, Metallus falls under the Steel - Speciality industry. Currently, this industry has 6 stocks and is ranked #167. Since the beginning of the year, the industry has moved +46.9%.

Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Element Solutions and Metallus as they could maintain their solid performance.

QXO (QXO +0.54%) did exactly what investors expected this week. The building products distribution company started by entrepreneur Brad Jacobs announced another acquisition.

Investors may wonder why QXO stock was down about 14% for the week as of Friday afternoon, according to data provided by S&P Global Market Intelligence. The company just announced its third major acquisition, and second this year. Here's what some investors might be wary about.

Image source: The Motley Fool.

Bet on the jockey QXO announced this week that it was buying TopBuild Corp (BLD +0.48%). for about $17 billion. TopBuild is the leading distributor and installer of insulation and related construction products in North America. QXO has already closed acquisitions of Beacon Roofing Supply and Kodiak Building Partners in the last year, totaling about $13.25 billion.

QXO was founded by Brad Jacobs with the goal of consolidating the $800 billion building products distribution industry and leveraging technology to enhance efficiency. Jacobs was also the founder of other successful businesses, including the transportation and logistics company XPO Logistics and equipment rental company United Rentals.

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QXO stock was always a bet on Jacobs. While the $17 billion price tag for TopBuild may be scaring some investors away, Jacobs hasn't altered his vision for QXO. The latest combination is also expected to immediately and materially boost QXO's earnings. Those positive results would be even stronger if the construction and housing markets strengthen. That's why I'm holding onto my QXO shares.

Howard Smith has positions in QXO. The Motley Fool has positions in and recommends QXO and TopBuild. The Motley Fool recommends XPO. The Motley Fool has a disclosure policy.

DAYTONA BEACH, Fla., May 05, 2026 (GLOBE NEWSWIRE) -- TopBuild Corp. (NYSE:BLD), a leading installer of insulation and commercial roofing and a specialty distributor of insulation and related building products to the construction industry in the United States and Canada, today reported results for the first quarter ended March 31, 2026.

“Our first quarter performance was in line with our expectations as we continue our focus on delivering compounding shareholder returns, driving operational excellence, and executing our long-term strategy,” said Robert Buck, CEO of TopBuild.

“In the first quarter, sales grew 17.2%, driven by the 2025 acquisitions of SPI and Progressive Roofing, offsetting the macro challenges in residential and light commercial new construction. While the residential market faces ongoing uncertainty, the heavy commercial and industrial end markets are healthy and our results are solid. We are also making excellent progress on the SPI integration and are on track to meet or exceed our original synergy targets,” Mr. Buck continued.

“M&A continues to be a priority given our strong free cash flow and robust pipeline of acquisitions across our installation and specialty distribution segments. To date in 2026, we’re pleased to have completed four acquisitions which together add more than $80 million in annual revenue, further diversify our end-market exposure and continue to position us for long-term growth.

“We are excited about our future in joining QXO, as was announced on April 19. By combining the TopBuild business with QXO, we are confident in our opportunities to accelerate our cross-selling initiatives, capitalize on procurement opportunities and leverage digital technology in a manner that will benefit our customers, employees and all stakeholders,” Mr. Buck concluded.

Financial Highlights
(comparisons are to the three months ended March 31, 2025)

         Reported Adjusted ($ in thousands) 2026  2025   2026  2025  Sales$1,445,860 $1,233,278  $1,445,860 $1,233,278  Gross Profit$400,253 $351,473  $400,273 $364,976  Gross Margin 27.7% 28.5%  27.7% 29.6% SG&A$225,210 $173,984  $222,578 $170,829  SG&A as % of Sales 15.6% 14.1%  15.4% 13.9% Operating Profit$175,043 $177,489  $177,695 $194,147  Operating Margin 12.1% 14.4%  12.3% 15.7% Net Income$104,813 $123,385  $105,375 $135,147  Net Income per diluted share$3.73 $4.23  $3.75 $4.63  EBITDA   $238,619 $234,759  EBITDA Margin    16.5% 19.0%        Sales Drivers
(comparisons are to the three months ended March 31, 2025)

         Three Months Ended March 31, 2026  Installation
Services
  Specialty
Distribution
  TopBuild,
net of 
eliminations
 Sales (in millions) $777  $737  $1,446 Sales Drivers      Volume  (9.8%)  0.3%  (5.5%)Price  (2.9%)  0.3%  (1.6%)M&A  16.9%  31.1%  24.3%Total Sales Change  4.3%  31.7%  17.2%        Segment Profitability        
(comparisons are to the three months ended March 31, 2025)

    Three Months Ended March 31, 2026($ in thousands)Installation
ServicesSpecialty DistributionOperating Profit$119,191 $80,008 Change (8.0%) 15.9%Operating Margin 15.3% 10.9%Adj. Operating Profit$119,549 $80,265 Change (13.4%) 5.7%Adj. Operating Margin 15.4% 10.9%Adj. EBITDA$149,168 $106,528 Change (5.3%) 16.6%Adj. EBITDA Margin 19.2% 14.5%    Capital Allocation
2026 Acquisitions

CompanyAnnual Revenue Month Closed($ in millions) Upstate Spray Foam Insulation and Applied Coatings (I)$19.6 FebruaryJohnson Roofing (I) 29.2 AprilEnergy Pros (I) 4.0 MayClaremont (D) 31.0 MayTotal$ 83.8  I = Installation Services, D = Specialty Distribution        In addition to the acquisitions completed as listed above, TopBuild has signed a definitive agreement to acquire Comfort Pro, an insulation installation company based in Little Suamico, Wisc. with approximately $6 million in annual sales. The transaction is expected to close in the second quarter.

About TopBuild

TopBuild Corp., headquartered in Daytona Beach, Florida, is a leading installer of insulation and commercial roofing and is also a specialty distributor of insulation and related building products to the construction industry in the United States and Canada. We provide insulation and commercial roofing installation services nationwide through our Installation Services segment which has over 200 branches located across the United States. We distribute building and mechanical insulation, insulation accessories, and other building products for the residential, commercial, and industrial end markets through our Specialty Distribution business. Our Specialty Distribution network encompasses more than 250 branches across the United States and Canada. To learn more about TopBuild please visit our website at www.topbuild.com.

Use of Non-GAAP Financial Measures

Adjusted EBITDA, incremental EBITDA margin, adjusted EBITDA margin, the “adjusted” financial measures presented above, and figures presented on a “same branch basis” are not calculated in accordance with U.S. generally accepted accounting principles (“GAAP”). The Company believes that these non-GAAP financial measures, which are used in managing the business, may provide users of this financial information with additional meaningful comparisons between current results and results in prior periods. We define same branch sales as sales from branches in operation for at least 12 full calendar months. Such non-GAAP financial measures are reconciled to their closest GAAP financial measures in tables contained in this press release. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, the Company’s reported results under GAAP. Additional information may be found in the Company’s filings with the Securities and Exchange Commission which are available on TopBuild’s website under “SEC Filings” at www.topbuild.com.

Safe Harbor Statement

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act. These forward-looking statements may address, among other things, our expected financial and operational results, the related assumptions underlying our expected results, and our plan to repurchase our common stock under stock repurchase transactions. These forward-looking statements can be identified by words such as “will,” “would,” “anticipate,” “expect,” “believe,” “designed,” “plan,” “may,” “project,” “estimate” or “intend,” the negative of these terms, and similar references to future periods. These views involve risks and uncertainties that are difficult to predict and, accordingly, our actual results may differ materially from the results discussed in our forward-looking statements. Our forward-looking statements contained herein speak only as of the date of this press release. Factors or events that we cannot predict, including those described in the risk factors contained in our filings with the Securities and Exchange Commission, may cause our actual results to differ from those expressed in forward-looking statements. Although TopBuild believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, the Company can give no assurance that its expectations will be achieved and it undertakes no obligation to update any forward-looking statements as a result of new information, future events, or otherwise, except as required by applicable law.

(tables follow)

TopBuild Corp.      Condensed Consolidated Statements of Operations (Unaudited)    (in thousands, except share and per common share amounts)               Three Months Ended March 31,   2026  2025 Net sales $1,445,860     $1,233,278 Cost of sales  1,045,607   881,805 Gross profit  400,253   351,473        Selling, general, and administrative expense  225,210   173,984 Operating profit  175,043   177,489        Other income (expense), net:      Interest expense  (36,623)  (16,602)Other, net  1,327   5,086 Other expense, net  (35,296)  (11,516)Income before income taxes  139,747   165,973        Income tax expense  (34,934)  (42,588)Net income $104,813  $123,385        Net income per common share:      Basic $3.75  $4.25 Diluted $3.73  $4.23        Weighted average shares outstanding:      Basic  27,976,514   29,028,234 Diluted  28,130,208   29,174,892         TopBuild Corp.      Condensed Consolidated Statements of Comprehensive Income (Unaudited)   (in thousands)               Three Months Ended March 31,   2026  2025Net income $104,813  $123,385Other comprehensive (loss) income:      Foreign currency translation adjustment  (4,342)  229Comprehensive income $100,471  $123,614        TopBuild Corp.       Condensed Consolidated Balance Sheets and Other Financial Data (Unaudited)       (dollars in thousands)         As of   March 31,  December 31,    2026 2025 ASSETS       Current assets:       Cash and cash equivalents $268,847 $184,742 Receivables, net of an allowance for credit losses of $29,680 at March 31, 2026, and $29,081 at December 31, 2025  930,521  894,408 Inventories  515,143  505,167 Prepaid expenses and other current assets  42,148  50,478 Total current assets  1,756,659  1,634,795         Right of use assets  261,536  271,396 Property and equipment, net  286,525  291,556 Goodwill  3,070,940  3,045,227 Other intangible assets, net  1,325,038  1,351,612 Other assets  10,465  10,726 Total assets $6,711,163 $6,605,312         LIABILITIES       Current liabilities:       Accounts payable $471,217 $440,214 Current portion of long-term debt  62,500  62,500 Accrued liabilities  251,991  249,361 Short-term operating lease liabilities  87,302  86,170 Short-term finance lease liabilities  6,611  6,571 Total current liabilities  879,621  844,816         Long-term debt  2,769,888  2,784,197 Deferred tax liabilities, net  395,765  387,594 Long-term portion of insurance reserves  58,645  58,681 Long-term operating lease liabilities  190,086  200,729 Long-term finance lease liabilities  11,014  11,020 Other liabilities  1,782  2,115 Total liabilities  4,306,801  4,289,152         EQUITY  2,404,362  2,316,160 Total liabilities and equity $6,711,163 $6,605,312           As of March 31,    2026 2025 Other Financial Data       Receivables, net plus inventories less accounts payable $974,447 $731,997 Net sales, acquisition adjusted † $6,154,730 $5,329,105 Receivables, net plus inventories less accounts payable as a percent of sales (TTM) †  15.8% 13.7%        † Trailing 12 months sales have been adjusted for the pro forma effect of acquired branches                TopBuild Corp.      Condensed Consolidated Statement of Cash Flows (Unaudited)      (in thousands)               Three Months Ended March 31,   2026  2025 Cash Flows Provided by (Used in) Operating Activities:           Net income $104,813  $123,385 Adjustments to reconcile net income to net cash provided by operating activities:      Depreciation and amortization  56,295   35,791 Share-based compensation  4,629   5,042 Loss on sale of assets  327   829 Amortization of debt issuance costs  1,216   720 Provision for bad debt expense  3,412   3,666 Provision for inventory obsolescence  2,284   2,820 Impairment losses  —   9,868 Deferred income taxes, net  (20)  (1,822)Change in certain assets and liabilities, net of effects of businesses acquired:      Receivables, net  (38,542)  (1,118)Inventories  (18,336)  (2,215)Prepaid expenses and other current assets  8,198   9,646 Accounts payable  31,464   (32,342)Accrued liabilities  4,739   (1,050)Other, net  257   (631)Net cash provided by operating activities  160,736   152,589        Cash Flows Provided by (Used in) Investing Activities:      Purchases of property and equipment  (13,999)  (13,395)Acquisition of businesses, net of cash acquired  (27,888)  294 Proceeds from sale of assets  394   248 Net cash used in investing activities  (41,493)  (12,853)       Cash Flows Provided by (Used in) Financing Activities:      Repayment of long-term debt  (15,625)  (11,250)Proceeds from revolving credit facility  65,000   — Repayment of revolving credit facility  (65,000)  — Principal payments on finance lease obligations  (1,861)  — Taxes withheld and paid on employees' equity awards  (18,293)  (4,466)Exercise of stock options  1,394   — Repurchase of shares of common stock  —   (215,628)Net cash used in financing activities  (34,385)  (231,344)Impact of exchange rate changes on cash  (753)  101 Net increase (decrease) in cash and cash equivalents  84,105   (91,507)Cash and cash equivalents - Beginning of period  184,742   400,318 Cash and cash equivalents - End of period $268,847  $308,811        Supplemental disclosure of noncash activities:      Leased assets obtained in exchange for new operating lease liabilities $12,987  $17,547 Leased assets obtained in exchange for new finance lease liabilities  1,831   — Accruals for property and equipment  685   444 Excise taxes capitalized to treasury stock  —   2,156         TopBuild Corp.         Segment Data (Unaudited)         (dollars in thousands)                     Three Months Ended March 31,       2026  2025 ChangeInstallation Services         Sales $777,329 $745,533  4.3%          Operating profit, as reported $119,191 $129,616   Operating margin, as reported  15.3% 17.4%            Rationalization charges  —  8,281   Acquisition related costs  358  143   Operating profit, as adjusted $119,549 $138,040   Operating margin, as adjusted  15.4% 18.5%            Share-based compensation  428  349   Depreciation and amortization  29,191  19,167   EBITDA, as adjusted $149,168 $157,556  (5.3)%EBITDA margin, as adjusted  19.2% 21.1%            Specialty Distribution         Sales $737,080 $559,804  31.7%          Operating profit, as reported $80,008 $69,059   Operating margin, as reported  10.9% 12.3%            Rationalization charges  —  6,868   Acquisition related costs  257  37   Operating profit, as adjusted $80,265 $75,964   Operating margin, as adjusted  10.9% 13.6%            Share-based compensation  843  463   Depreciation and amortization  25,420  14,939   EBITDA, as adjusted $106,528 $91,366  16.6%EBITDA margin, as adjusted  14.5% 16.3%             TopBuild Corp.         Adjusted EBITDA (Unaudited)         (dollars in thousands)                     Three Months Ended March 31,      2026   2025 Change  Total net sales         Sales before eliminations $1,514,409  $1,305,337    Intercompany eliminations  (68,549)  (72,059)   Net sales after eliminations $1,445,860  $1,233,278  17.2%          Operating profit, as reported - segments $199,199  $198,675    General corporate expense, net  (10,674)  (9,259)   Intercompany eliminations  (13,482)  (11,927)   Operating profit, as reported $175,043  $177,489    Operating margin, as reported  12.1%  14.4%             Rationalization charges  —   15,358    Acquisition related costs †  2,652   1,300    Operating profit, as adjusted $177,695  $194,147    Operating margin, as adjusted  12.3%  15.7%             Share-based compensation  4,629   5,042    Depreciation and amortization  56,295   35,570    EBITDA, as adjusted $238,619  $234,759  1.6%EBITDA margin, as adjusted  16.5%  19.0%             Sales change period over period  212,582       EBITDA, as adjusted, change period over period  3,860       Incremental EBITDA, as adjusted, as a percentage of change in sales  1.8%                          † Acquisition related costs include corporate level adjustments as well as segment operating adjustments.                 TopBuild Corp.      Same Branch and Acquisition Metrics (Unaudited)      (dollars in thousands)               Three Months Ended March 31,   2026  2025 Net sales      Same branch:      Installation Services $651,097  $745,533 Specialty Distribution  562,934   559,804 Eliminations  (68,315)  (72,059)Total same branch $1,145,716  $1,233,278        Acquisitions (a):      Installation Services $126,232  $— Specialty Distribution  174,146   — Eliminations  (234)  — Total acquisitions  300,144   — Total net sales $1,445,860  $1,233,278        EBITDA, as adjusted      Same branch:      Installation Services $126,695  $157,557 Specialty Distribution  86,071   91,367 Eliminations  (17,077)  (14,165)Total same branch $195,689  $234,759        Acquisitions (a):      Installation Services $22,473  $— Specialty Distribution  20,457   — Total acquisitions  42,930   — Total EBITDA, as adjusted $238,619  $234,759        EBITDA, as adjusted, as a percentage of sales      Same branch (b)  17.1%   Acquisitions (c)  14.3%   Total (d)  16.5%  19.0        As Adjusted (Decremental)/Incremental EBITDA, as a percentage of change in sales      Same branch (e)  (44.6)%   Acquisitions (c)  14.3%   Total (f)  1.8%          (a) Represents current year impact of acquisitions in their first twelve months      (b) Same branch metric, as adjusted, as a percentage of same branch sales      (c) Acquired metric, as adjusted, as a percentage of acquired sales      (d) Total EBITDA, as adjusted, as a percentage of total sales      (e) Change in same branch EBITDA, as adjusted, as a percentage of change in same branch sales      (f) Change in total EBITDA, as adjusted, as a percentage of change in total sales              TopBuild Corp.         Same Branch Revenue by Line of Business (Unaudited)      (dollars in thousands)                     Three Months Ended March 31,      2026 2025 ChangeResidential:         Same branch $685,972 $769,751  (10.9)%Acquisitions (a)  23,127  —   Total Residential sales  709,099  769,751  (7.9)%          Commercial/Industrial:         Same branch $459,744 $463,527  (0.8)%Acquisitions (a)  277,017  —   Total Commercial/Industrial sales  736,761  463,527  58.9 %Total net sales $1,445,860 $1,233,278  17.2 %          (a) Represents current year impact of acquisitions in their first twelve months                 TopBuild Corp.      Non-GAAP Reconciliations (Unaudited)      (in thousands, except share and per common share amounts)               Three Months Ended March 31,   2026  2025 Gross Profit Reconciliation             Net Sales $1,445,860  $1,233,278        Gross profit, as reported $400,253  $351,473        Acquisition related costs  20   — Rationalization charges  —   13,503 Gross profit, as adjusted $400,273  $364,976        Gross margin, as reported  27.7%   28.5%Gross margin, as adjusted  27.7%  29.6%        Selling, General and Administrative Expense Reconciliation             Selling, general, and administrative expense, as reported $225,210  $173,984        Rationalization charges  —   1,855 Acquisition related costs  2,632   1,300 Selling, general, and administrative expense, as adjusted $222,578  $170,829        Operating Profit Reconciliation             Operating profit, as reported $175,043  $177,489        Rationalization charges  —   15,358 Acquisition related costs  2,652   1,300 Operating profit, as adjusted $177,695  $194,147        Operating margin, as reported  12.1%  14.4%Operating margin, as adjusted  12.3%  15.7%       Income Per Common Share Reconciliation             Income before income taxes, as reported $139,747  $165,973        Rationalization charges  —   15,358 Acquisition related costs  2,652   1,300 Income before income taxes, as adjusted  142,399   182,631        Tax rate at 26.0%  (37,024)  (47,484)Income, as adjusted $105,375  $135,147        Income per common share, as adjusted $3.75  $4.63        Weighted average diluted common shares outstanding  28,130,208   29,174,892         TopBuild Corp.      Reconciliation of Adjusted EBITDA to Net Income (Unaudited)      (in thousands)               Three Months Ended March 31,   2026 2025Net income, as reported $104,813 $123,385Adjustments to arrive at EBITDA, as adjusted:      Interest expense and other, net  35,296  11,516Income tax expense  34,934  42,588Depreciation and amortization  56,295  35,570Share-based compensation  4,629  5,042Rationalization charges  —  15,358Acquisition related costs  2,652  1,300EBITDA, as adjusted $238,619 $234,759        TopBuild Corp.               Acquisition Adjusted Net Sales (Unaudited)              (in thousands)               2025 2026 Trailing Twelve Months Ended Q2 Q3 Q4 Q1 March 31, 2026Net sales$1,297,403 $1,393,158 $1,485,247 $1,445,860 $5,621,668Acquisitions pro forma adjustment † 313,828  199,550  18,046  1,638  533,062Net sales, acquisition adjusted$1,611,231 $1,592,708 $1,503,293 $1,447,498 $6,154,730                              † Sales have been adjusted for the pro forma effect of acquired branches
               

TopBuild (BLD - Free Report) reported $1.45 billion in revenue for the quarter ended March 2026, representing a year-over-year increase of 17.2%. EPS of $3.75 for the same period compares to $4.63 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $1.42 billion, representing a surprise of +2.06%. The company delivered an EPS surprise of +2.99%, with the consensus EPS estimate being $3.64.

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

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

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

Net Sales- Specialty Distribution: $737.08 million compared to the $696.84 million average estimate based on three analysts. The reported number represents a change of +36.2% year over year.Net Sales- Installation Services: $777.33 million compared to the $771.12 million average estimate based on three analysts. The reported number represents a change of +6.4% year over year.Net Sales- Intercompany eliminations: $-68.55 million versus the two-analyst average estimate of $-82.88 million. The reported number represents a year-over-year change of -4.9%.Operating profit, as reported- General corporate expense, net: $-10.67 million versus $-13.15 million estimated by two analysts on average.View all Key Company Metrics for TopBuild here>>>

Shares of TopBuild have returned +19.4% over the past month versus the Zacks S&P 500 composite's +9.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

© Chaay_Tee / iStock via Getty Images

Pre-Market Stock Futures: Futures are trading higher on Wednesday as news of an impending end to the Iran war is sending oil prices dramatically lower. This news comes after a bounce-back Tuesday that benefited from lower oil prices, some strong earnings, and solid buying from retail investors. At the same time, hedge funds continue to sell into any market strength. In fact, BTIG reported that the 2nd-largest hedge fund selling of technology stocks in a decade matches the 3rd-largest retail fund flows into the QQQ ETF. With that in mind, the Nasdaq soared to yet another all-time high on Tuesday, closing the day up 1.03% at 25,326, while the S&P 500 also closed at an all-time high on Tuesday, up 0.81% at 7,259. The Dow Jones Industrials checked in with a gain of 0.73% to close at 49,298. The big winner on the day was the small-cap-heavy Russell 2000, which has been the leading index this year, closing up 1.64% at 2,841, and that also was another all-time high.

Treasury Bonds: After hitting some high yields Monday, not seen in months, yields were lower across the Treasury curve as buyers jumped in, especially on longer-dated U.S. debt. While concerns over the potential for inflation to continue to edge higher and the possibility of no interest rate cuts until 2027 continue to hover over the market, 5%+ yields on the 20- and 30-year bonds were too much to ignore. The 30-year long bond finished trading Tuesday at 4.99%, while the benchmark 10-year note was last seen at 4.42%.

Oil and Gas: Some selling across the energy complex was a major positive on Tuesday, as both major benchmarks finished the day lower. The lack of negative news about Iran and the passage of some ships escorted by the U.S. Navy safely through the Strait of Hormuz contributed to lower prices. Brent Crude finished the day at $110.30, down 3.64%, while West Texas Intermediate closed the session at $102.80, down 342%. The last trade for Natural gas was reported at $2.76, down 3.59%. 

Gold: As has been the rule lately, when stock prices go higher, Gold and Silver often follow along in tandem, and that was the case on Tuesday. Gold closed the day higher by 0.76% at $4,556, while Silver was last seen at $72,74, higher by 0.18%. This comes after it was reported that Central Banks from around the world were net sellers of gold in March, with a stunning 30 tonnes of outflows. 

Crypto:
The cryptocurrency market surged, with Bitcoin (BTC) breaking above $80,000 for the first time in three months and reaching $81,500. The rally was powered by more than $500 million in fresh inflows into spot Bitcoin ETFs, robust institutional buying, and growing investor appetite for higher-risk altcoins. The bullish momentum held steady despite persistent geopolitical tensions in the Middle East. At 8 AM EDT, Bitcoin traded at $82,490, while Ethereum was quoted at $2,411.

24/7 Wall St. reviews dozens of analyst research reports daily to identify new investment ideas for both investors and traders. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. 

Here are some of the top Wall Street analyst upgrades, downgrades, and initiations seen on Wednesday, May 6, 2026.  

Upgrades: Advanced Micro Devices (NASDAQ: AMD | AMD Price Prediction) was upgraded to Buy from Neutral at Goldman Sachs, which launched the target price for the chip giant to $450 from $240. American Eagle Outfitters (NYSE: AEO) was upgraded to Equal Weight from Underweight at Barclays, with a $19 target price. LCI Industries (NYSE: LCII) was raised to Buy from Neutral at Roth Capital, which has a $164 target price for the shares. GlobalFoundries (NYSE: GFS) was raised to Positive from Neutral at Susquehanna, which doubled the target price for the shares to $100 from $50. Palantir Technologies (NASDAQ: PLTR) was raised to Buy from Hold at Argus, which has a $190 target price objective. Downgrades: Abercrombie & Fitch (NYSE: ANF) was downgraded to Underweight from Equal Weight at Barclays, which cut the target price for the retailer to $76 from $95. Coupang (NYSE: CPNG) was downgraded to Neutral from Buy at Citigroup, which trimmed the target price for the stock to $22.20 from $23. IAC  (NYSE: IAC) was downgraded to Hold from Buy at Jefferies, which stays with a $44 target price for the company. Reddit (NYSE: RDDT) was downgraded to Accumulate from Buy at Phillip Securities, which dropped the target price for the stock to $200 from $240. TopBuild (NYSE: BLD) was cut to Hold from Buy at Loop Capital, which kept a $485 target price for the shares. Initiations: Celsius Holdings (NASDAQ: CELH) was initiated with a Neutral rating at Rothschild & Co Redburn, which has a $47 target price for the company. Dakota Gold (NYSE: DC) was initiated with an Outperform rating at CIBC, with an $11 target price. 
Kymera Therapeutics (NASDAQ: KYMR) was started with a Buy rating at Canaccord, with a $106 target price. Merck & Co (NYSE: MRK) was reinstated with a Neutral rating at Citigroup, which has a $125 target price for the pharmaceutical giant.