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Allison Transmission (ALSN) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Net Sales of $1,406 million, up 84% year over year, including the addition of the Allison Off-Highway business unit acquired on January 1, 2026  Net Income of $112 million, 8% of Net Sales Diluted EPS of $1.33, Adjusted Diluted EPS of $2.57, up 6% year over year Adjusted EBITDA of $362 million, 26% of Net Sales, up 22% year over year First quarter results include segment reporting for Allison Transmission and Allison Off-Highway business units , /PRNewswire/ -- Allison Transmission Holdings Inc. (NYSE: ALSN) today reported first quarter net sales of $1,406 million with adjusted EBITDA margin of 26 percent and net cash provided by operating activities of $156 million.

David S. Graziosi, Chair, President and Chief Executive Officer of Allison commented, "Encouraging momentum in key end markets supported solid demand for both Allison business units in the first quarter. Despite ongoing geopolitical uncertainty, we will look to capitalize on further improvement in end markets conditions throughout the year, while continuing to integrate the Allison Off-Highway business unit, maintaining focus and confidence in our synergy capture target in support of our long-term growth and value creation strategy. For the first quarter, adjusted diluted EPS was $2.57, with expectation for the acquisition of the Allison Off-Highway business unit to be accretive to net income and diluted EPS in 2026."

Graziosi continued, "During the first quarter, we announced the seventh consecutive annual increase to our quarterly dividend and repurchased more than $20 million of our common stock, demonstrating Allison's consistent commitment to returning cash to shareholders as part of our capital allocation priorities. Also during the quarter, as we progress toward our 2.0x net leverage target with prudent balance sheet management, our strong cash flow generation enabled us to repay $150 million of amounts outstanding under our revolving credit facility."  

First quarter results include segment reporting for Allison Transmission, the Company's legacy business, excluding certain costs now accounted for within the Allison Central Group, and Allison Off-Highway, the business acquired from Dana Incorporated on January 1, 2026. The Allison Central Group is a centralized cost center which includes certain functional costs that support the Company's global operations.

Allison Consolidated First Quarter Financial Results

Net sales for the quarter were $1,406 million, including the addition of $673 million in net sales for the Allison Off-Highway business unit.

Gross profit for the quarter was $406 million, an increase of $28 million from $378 million for the same period in 2025. The increase was principally driven by the addition of the Allison Off-Highway business unit, partially offset by decreased gross profit in the Allison Transmission business unit. Gross profit for the quarter was negatively impacted by approximately $76 million of expenses related to the acquisition of the Allison Off-Highway business unit, primarily inventory step-up costs and incremental depreciation expense related to the stepped-up basis in property, plant and equipment. Gross margin for the quarter was 29 percent.

Selling, general and administrative expenses for the quarter were $157 million, an increase of $70 million from $87 million for the same period in 2025. The increase was principally driven by the addition of the Allison Off-Highway business unit, including $21 million of amortization expense for intangible asset recognition and approximately $17 million of one-time acquisition-related integration costs.

Engineering – research and development expenses for the quarter were $54 million, an increase of $12 million from $42 million for the same period in 2025. The increase was principally driven by the addition of the Allison Off-Highway business unit, partially offset by reduced product initiatives spending in the Allison Transmission business unit.

Net income for the quarter was $112 million, a decrease of $80 million from $192 million for the same period in 2025. The decrease was principally driven by costs related to the acquisition of the Allison Off-Highway business unit. The year over year decrease in net income was also driven by higher interest expense, net, partially offset by lower income tax expense. Diluted EPS for the first quarter was $1.33.

Excluding the effect of certain non-cash, non-recurring, infrequent or unusual items, including the costs associated with the acquisition of the Allison Off-Highway business unit, adjusted net income, a non-GAAP financial measure, was $216 million for the first quarter and adjusted diluted EPS was $2.57.

Adjusted EBITDA, a non-GAAP financial measure, was $362 million for the first quarter, an increase of $66 million from $296 million for the same period in 2025. Adjusted EBITDA margin for the quarter was 26 percent.

Net cash provided by operating activities for the quarter was $156 million. Adjusted free cash flow, a non-GAAP financial measure, for the quarter was $103 million.

Allison ended the first quarter with $311 million of cash and cash equivalents and $845 million of available borrowing capacity under its revolving credit facility. Allison ended the first quarter with total debt of $4,292 million and net debt of $3,981 million.

During the first quarter, Allison paid a quarterly dividend of $0.29 per share and repurchased over $20 million of its common stock, with $1,171 million of authorization remaining under its stock repurchase program.

Allison Transmission First Quarter Financial Highlights

Net sales for the quarter were $733 million, a 4 percent decrease from the same period in 2025.

Gross profit for the quarter was $356 million, a decrease of $22 million from $378 million for the same period in 2025. The decrease was principally driven by lower volumes and unfavorable direct material costs, partially offset by price increases on certain products. Gross margin for the first quarter was nearly 49 percent.

Selling, general and administrative expenses for the quarter were $65 million, flat from the same period in 2025 when reflecting allocations of certain selling, general and administrative expenses in the Allison Central Group.

Engineering – research and development expenses for the quarter were $39 million, a decrease of $3 million from $42 million for the same period in 2025. The decrease was principally driven by reduced product initiatives spending.

Segment operating profit was $252 million, or 34 percent of net sales, for the first quarter. Adjusted EBITDA, a non-GAAP financial measure, was $276 million for the first quarter. Adjusted EBITDA margin for the quarter was 38 percent.

Allison Off-Highway First Quarter Financial Highlights

Net sales for the quarter were $673 million.

Gross profit for the quarter was $50 million, including approximately $76 million of expense related to the stepped-up basis in inventory and incremental depreciation expense related to the stepped-up basis in property, plant and equipment.

Selling, general and administrative expenses for the quarter were $56 million, including $21 million of amortization expense for intangible asset recognition. Engineering – research and development expenses for the quarter were $15 million.

Segment operating loss was $(21) million, or (3) percent of net sales, for the first quarter. Adjusted EBITDA, a non-GAAP financial measure, was $98 million for the first quarter. Adjusted EBITDA margin for the quarter was 15 percent.

Full Year 2026 Guidance Update

Given first quarter results, while taking into consideration current macroeconomic and geopolitical uncertainty, we are reaffirming our full year 2026 guidance provided to the market on February 23, 2026. Allison expects:

Consolidated net sales in the range of $5,575 to $5,925 million Net sales for the Allison Transmission business unit in the range of $3,025 to $3,175 million Net sales for the Allison Off-Highway business unit in the range of $2,550 to $2,750 million Consolidated net income in the range of $600 to $750 million, subject to the completion of purchase price accounting associated with the acquisition of the Allison Off-Highway business unit Net income guidance includes more than $100 million of one-time, pre-tax expenses associated with the separation, integration and restructuring of the Allison Off-Highway business unit. Including one-time costs, the Allison Off-Highway acquisition is expected to be accretive to net income and diluted EPS in 2026 Consolidated adjusted EBITDA in the range of $1,365 to $1,515 million Consolidated net cash provided by operating activities in the range of $970 to $1,100 million, including approximately $55 million of one-time cash outlays associated with the acquisition of the Allison Off-Highway business unit Consolidated capital expenditures in the range of $295 to $315 million, including one-time separation and integration capital expenditures of approximately $45 million Consolidated adjusted free cash flow in the range of $655 to $805 million Conference Call and Webcast

The Company will host a conference call at 5:00 p.m. ET on Monday, May 4, 2026 to discuss its first quarter 2026 results. The dial-in phone number for the conference call is +1-877-425-9470 and the international dial-in number is +1-201-389-0878. A live webcast of the conference call will also be available online at https://ir.allisontransmission.com.

For those unable to participate in the conference call, a replay will be available from 9:00 p.m. ET on May 4 until 11:59 p.m. ET on May 18. The replay dial-in phone number is +1-844-512-2921 and the international replay dial-in number is +1-412-317-6671. The replay passcode is 13760157.

About Allison
Allison (NYSE: ALSN) is a global leader in high-performance mobility and work solutions built for the needs of the modern industrial world. Allison operates through two business units: Allison Transmission and Allison Off-Highway Drive & Motion Systems. Headquartered in Indianapolis, Indiana, USA, the Company manufactures solutions which offer industry-leading value propositions across vital sectors such as infrastructure, mining, energy, agriculture, construction, transportation and national security. For over 110 years, Allison has been recognized as a reliable partner of choice, keeping essential industries moving anytime, in over 150 countries around the world. For more information, visit https://allisontransmission.com. 

Forward-Looking Statements
This press release contains forward-looking statements. The words "believe," "expect," "anticipate," "intend," "estimate" and other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters identify forward-looking statements. You should not place undue reliance on these forward-looking statements. Although forward-looking statements reflect management's good faith beliefs, reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements speak only as of the date the statements are made. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise. These forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to: the significant costs we are expected to incur in connection with the integration of the Off-Highway Drive & Motion Systems business of Dana Incorporated (now referred to as the "Allison Off-Highway Business"); our ability to successfully integrate the Allison Off-Highway Business and its operations in the expected time frame; our ability to realize all of the anticipated benefits from the integration of the Allison Off-Highway Business and its operations and to effectively manage our expanded operations; our participation in markets that are competitive; our ability to prepare for, respond to and successfully achieve our objectives relating to technological and market developments, competitive threats and changing customer needs, including with respect to electric hybrid and fully electric commercial vehicles; increases in cost, disruption of supply or shortage of labor, freight, raw materials, energy or components used to manufacture or transport our products or those of our customers or suppliers, including as a result of geopolitical risks, natural disasters, extreme weather events, wars and public health crises such as pandemics; global economic volatility; general economic and industry conditions, including the risk of prolonged inflation and recession; labor strikes, work stoppages or similar labor disputes, which could significantly disrupt our operations or those of our principal customers or suppliers; the highly cyclical industries in which certain of our end users operate; uncertainty in the global regulatory and business environments in which we operate; the concentration of our net sales in our top five customers and the loss of any one of these customers; cybersecurity risks to our operational systems, security systems or infrastructure owned by us or our third-party vendors and suppliers; the failure of markets outside North America to increase adoption of fully automatic transmissions; the success of our research and development efforts, the outcome of which is uncertain; U.S. and foreign defense spending; risks associated with our international operations, including acts of war and increased trade protectionism and tariffs; the discovery of defects in our products, resulting in delays in new model launches, recall campaigns and/or increased warranty costs and reduction in future sales or damage to our brand and reputation; our ability to identify, consummate and effectively integrate acquisitions and collaborations; and risks related to our indebtedness.

Use of Non-GAAP Financial Measures
This press release contains information about Allison's financial results and forward-looking estimates of financial results that are not presented in accordance with accounting principles generally accepted in the United States ("GAAP"). Such non-GAAP financial measures are reconciled to their most directly comparable GAAP financial measures at the end of this press release. Non-GAAP financial measures should not be considered in isolation or as a substitute for our reported results prepared in accordance with GAAP and, as calculated, may not be comparable to other similarly titled measures of other companies.

We use adjusted earnings before interest, taxes, depreciation, and amortization ("EBITDA") and adjusted EBITDA as a percent of net sales ("adjusted EBITDA margin") to measure our operating profitability. We believe that adjusted EBITDA and adjusted EBITDA margin provide management, investors and creditors with useful measures of the operational results of our business and increase the period-to-period comparability of our operating profitability. Adjusted EBITDA margin is also used in the calculation of management's incentive compensation program. The most directly comparable GAAP measure to adjusted EBITDA and adjusted EBITDA margin is net income or segment operating profit (loss) in the case of our segments and net income as a percent of net sales ("net income margin") or segment operating profit (loss) as a percent of net sales in the case of our segments, respectively. Adjusted EBITDA is calculated as earnings before interest expense, net, income tax expense, amortization of intangible assets, depreciation of property, plant and equipment and other adjustments as defined by the Second Amended and Restated Credit Agreement dated as of March 29, 2019, as amended, governing Allison Transmission, Inc.'s term loans and revolving credit facility. Adjusted EBITDA margin is calculated as adjusted EBITDA divided by net sales.

In addition, we believe adjusted net income, adjusted basic earnings per share attributable to common stockholders ("adjusted basic EPS") and adjusted diluted earnings per share attributable to common stockholders ("adjusted diluted EPS") provide management, investors and creditors with useful measures of our core business performance and trends and increase the period-to-period comparability of our results of operations. The most directly comparable GAAP measure to adjusted net income, adjusted basic EPS and adjusted diluted EPS is net income, basic earnings per share attributable to common stockholders ("basic EPS") and diluted earnings per share attributable to common stockholders ("diluted EPS"), respectively. Adjusted net income is calculated as net income excluding the effect of certain non-cash, non-recurring, infrequent or unusual items such as: amortization related to acquired intangible assets, depreciation of property, plant and equipment related to the stepped-up basis of acquired assets, step-up in basis of acquired inventory, stock-based compensation expense, acquisition-related expenses, impairment charges, other one-off adjustments and the tax effect of the adjustments. Adjusted basic EPS is calculated by dividing adjusted net income by the weighted average shares of common stock outstanding and adjusted diluted EPS is calculated by dividing adjusted net income by the diluted weighted average shares of common stock outstanding.

We use adjusted free cash flow to evaluate the amount of cash generated by our business that, after the capital investment needed to maintain and grow our business and certain mandatory debt service requirements, can be used for repayment of debt, stockholder distributions and strategic opportunities, including investing in our business. We believe that adjusted free cash flow enhances the understanding of the cash flows of our business for management, investors and creditors. Adjusted free cash flow is also used in the calculation of management's incentive compensation program. The most directly comparable GAAP measure to adjusted free cash flow is net cash provided by operating activities. Adjusted free cash flow is calculated as net cash provided by operating activities after cash used for additions of long-lived assets.

Attachments

Condensed Consolidated Statements of Operations Condensed Consolidated Balance Sheets Condensed Consolidated Statements of Cash Flows Reconciliations of GAAP to Non-GAAP Financial Measures Reconciliation of GAAP to Non-GAAP Financial Measures for Full Year Guidance Allison Transmission Holdings, Inc.

Condensed Consolidated Statements of Operations

(Unaudited, dollars in millions, except per share data)

Allison Transmission

Allison Off-Highway

Central Group Finance

Consolidated

 Three months ended March 31,

Three months ended March 31,

 Three months ended March 31,

Three months ended March 31,

2026

2025

2026

2025

2026

2025

2026

2025

Net sales

$  733

$  766

$  673

$     -

$     -

$     -

$  1,406

$   766

Cost of sales

377

388

623

-

-

-

1,000

388

Gross profit

356

378

50

-

-

-

406

378

Selling, general and administrative

65

65

56

-

36

22

157

87

Engineering - research and development

39

42

15

-

-

-

54

42

Operating income (loss)

$  252

$  271

$  (21)

$     -

$  (36)

$  (22)

195

249

Interest expense, net

(61)

(21)

Other (expense) income, net

(2)

5

Income before income taxes

132

233

Income tax expense

(20)

(41)

Net income

$     112

$   192

Basic earnings per share attributable to common stockholders

$    1.35

$  2.26

Diluted earnings per share attributable to common stockholders

$    1.33

$  2.23

Allison Transmission Holdings, Inc.

Condensed Consolidated Balance Sheets

(Unaudited, dollars in millions)

 March 31,

 December 31,

2026

2025

ASSETS

Current Assets

    Cash and cash equivalents

$                    311

$             1,495

    Accounts receivable, net

892

333

    Inventories

835

316

    Other current assets

264

89

Total Current Assets

2,302

2,233

Property, plant and equipment, net

1,667

862

Intangible assets, net

1,685

794

Goodwill

2,827

2,075

Other non-current assets

268

118

TOTAL ASSETS

$                8,749

$             6,082

LIABILITIES

Current Liabilities

    Accounts payable

$                    728

$                190

    Product warranty liability

61

34

    Current portion of long-term debt

20

5

    Deferred revenue

76

34

    Other current liabilities

362

197

Total Current Liabilities

1,247

460

Product warranty liability

60

50

Deferred revenue

103

103

Long-term debt

4,247

2,885

Deferred income taxes

890

557

Other non-current liabilities

299

160

TOTAL LIABILITIES

6,846

4,215

TOTAL STOCKHOLDERS' EQUITY

1,903

1,867

TOTAL LIABILITIES & STOCKHOLDERS' EQUITY

$                8,749

$             6,082

Allison Transmission Holdings, Inc.

Condensed Consolidated Statements of Cash Flows

(Unaudited, dollars in millions)

 Three months ended March 31,

2026

2025

Net cash provided by operating activities

$                   156

$                    181

-

Net cash used for investing activities (a) (b)

(2,616)

(26)

Net cash provided by (used for) financing activities

1,280

(184)

Effect of exchange rate changes on cash

(4)

1

Net decrease in cash and cash equivalents

(1,184)

(28)

Cash and cash equivalents at beginning of period

1,495

781

Cash and cash equivalents at end of period

$                   311

$                    753

Supplemental disclosures:

          Interest paid

$                    (41)

$                     (27)

          Income taxes paid

$                    (11)

$                       (2)

          Interest received from interest rate swaps

$                        -

$                        2

(a)  Business acquisition, net of cash acquired

$               (2,563)

$                         -

(b)  Additions of long-lived assets

$                    (53)

$                     (26)

Allison Transmission Holdings, Inc.

Reconciliation of GAAP to Non-GAAP Financial Measures

(Unaudited, dollars in millions)

 Three months ended 

 March 31, 

2026

2025

Net income (GAAP)

$      112

$   192

plus:

    Income tax expense

20

41

    Depreciation of property, plant and equipment

44

28

    Interest expense, net

61

21

    Amortization expense

23

2

    Recognition of the stepped-up basis in inventory (a)

63

-

    Acquisition-related expenses (b)

17

9

    Depreciation of the stepped up basis in property, plant and equipment (c) 

13

-

    Stock-based compensation expense (d)

7

6

    Unrealized gain on marketable securities (e)

(3)

(3)

    Other (f)

5

-

Adjusted EBITDA (Non-GAAP)

$      362

$   296

Net sales (GAAP)

$   1,406

$   766

Net income as a percent of Net sales (GAAP)

8.0 %

25.1 %

Adjusted EBITDA as a percent of Net sales (Non-GAAP)

25.7 %

38.6 %

Net cash provided by operating activities (GAAP)

$      156

$   181

Deductions to reconcile to Adjusted free cash flow:

    Additions of long-lived assets

(53)

(26)

Adjusted free cash flow (Non-GAAP)

$      103

$   155

(a)

Represents the recognition of the stepped-up basis in inventory related to our acquisition of the Dana Off-Highway business (the "Acquisition") (recorded in Cost of sales).

(b)

Represents acquisition-related expenses (recorded in Selling, general and administrative), primarily consulting and legal fees, related to the Acquisition. 

(c)

Represents depreciation of the stepped-up basis in property, plant and equipment related to the Acquisition (recorded in Cost of sales).

(d)

Represents stock-based compensation expense (recorded in Selling, general and administrative).

(e)

Represents gains (recorded in Other (expense) income, net) related to an investment in the common stock of Jing-Jin Electric Technologies Co. Ltd.

(f)

Represents other adjustments as defined by the Second Amended and Restated Credit Agreement dated as of March 29, 2019 as amended.

Allison Transmission Holdings, Inc.

Reconciliation of GAAP to Non-GAAP Financial Measures

(Unaudited, dollars in millions)

 Allison Transmission 

 Allison Off-Highway 

 Central Group Function 

 Consolidated 

 Three months ended 

 Three months ended 

 Three months ended 

 Three months ended 

 March 31, 

 March 31, 

 March 31, 

 March 31, 

2026

2025

2026

2025

2026

2025

2026

2025

Segment Operating Profit/(Loss) (GAAP)

$   252

$   271

$   (21)

$      -

$   (36)

$   (22)

$      195

$   249

plus:

    Depreciation of property, plant and equipment

30

28

14

-

-

-

44

28

    Amortization expense

1

2

22

-

-

-

23

2

    Recognition of the stepped-up basis in inventory (a)

-

-

63

-

-

-

63

-

    Acquisition-related expenses (b)

-

-

-

-

17

9

17

9

    Depreciation of the stepped up basis in property, plant and equipment (c) 

-

-

13

-

-

-

13

-

    Stock-based compensation expense (d)

-

-

-

-

7

6

7

6

    Other (e)

(7)

2

7

-

-

-

-

2

Adjusted EBITDA (Non-GAAP)

$   276

$   303

$     98

$      -

$   (12)

$     (7)

$      362

$   296

Net sales (GAAP)

$   733

$   766

$   673

$      -

$       -

$       -

$   1,406

$   766

Segment Operating Profit/(Loss) as a percent of Net sales (GAAP)

34.4 %

35.4 %

-3.1 %

-

-

-

13.9 %

32.5 %

Adjusted EBITDA as a percent of Net sales (Non-GAAP)

37.7 %

39.6 %

14.6 %

-

-

-

25.7 %

38.6 %

(a)

Represents the recognition of the stepped-up basis in inventory related to the Acquisition (recorded in Cost of sales).

(b)

Represents acquisition-related expenses (recorded in Selling, general and administrative), primarily consulting and legal fees, related to the Acquisition. 

(c)

Represents depreciation of the stepped-up basis in property, plant and equipment related to the Acquisition (recorded in Cost of sales).

(d)

Represents stock-based compensation expense (recorded in Selling, general and administrative).

(e) 

Represents gains and losses (recorded in Other (expense) income, net) to reconcile to Adjusted EBITDA.

Allison Transmission Holdings, Inc.

Reconciliation of GAAP to Non-GAAP Financial Measures

(Unaudited, dollars in millions)

 Three months ended 

 March 31, 

2026

2025

Net income (GAAP)

$    112

$    192

plus:

    Recognition of the stepped-up basis in inventory (a)

63

-

    Amortization expense

23

2

    Acquisition-related expenses (b)

17

9

    Depreciation of the stepped up basis in property, plant and equipment (c) 

13

-

    Stock-based compensation expense (d)

7

6

    Income tax effect on adjustments (e)

(19)

(3)

Adjusted net income (Non-GAAP)

$    216

$    206

Basic EPS (GAAP)

$   1.35

$   2.26

Diluted EPS (GAAP)

$   1.33

$   2.23

Adjusted basic EPS (Non-GAAP) (f)

$   2.60

$   2.46

Adjusted diluted EPS (Non-GAAP) (f)

$   2.57

$   2.43

(a)

Represents the recognition of the stepped-up basis in inventory related to the Acquisition (recorded in Cost of sales).

(b)

Represents acquisition-related expenses (recorded in Selling, general and administrative), primarily consulting and legal fees, related to the Acquisition.

(c)

Represents depreciation of the stepped-up basis in property, plant and equipment related to the Acquisition (recorded in Cost of sales).

(d)

Represents stock-based compensation expense (recorded in Selling, general and administrative).

(e)

Represents the income tax effect on the adjustments calculated by applying our effective tax rate.

(f)

Adjusted basic EPS and Adjusted diluted EPS are Non‑GAAP financial measures are defined as Adjusted net income divided by the weighted average common shares outstanding and diluted weighted average shares outstanding, respectively, for the period. The weighted-average common shares outstanding and diluted weighted-average common shares outstanding are the same as those used in calculating the comparable GAAP measures.

Allison Transmission Holdings, Inc.

Reconciliation of GAAP to Non-GAAP Financial Measures for Full Year Guidance

(Unaudited, dollars in millions)

Guidance

Year Ending December 31, 2026

Low

High

Net income (GAAP)

$     600

$     750

plus:

Income tax expense

125

175

Depreciation of property, plant and equipment (a)

210

200

Interest expense, net

210

200

Amortization of intangible assets

85

75

Recognition of the stepped-up basis in inventory (b)

65

65

Acquisition-related expenses  (c)

40

30

Stock-based compensation expense (d)

30

20

Unrealized gain on marketable securities (e)

(15)

(15)

Restructuring & One-Time expenses (f) 

15

15

Adjusted EBITDA (Non-GAAP)

$  1,365

$  1,515

Net cash provided by Operating activities (GAAP)

$     970

$  1,100

Deductions to reconcile to Adjusted free cash flow:

    Additions of long-lived assets (g)

$   (315)

$   (295)

Adjusted free cash flow (Non-GAAP)

$     655

$     805

(a)

Includes depreciation of the stepped-up basis in property, plant and equipment related to the Acquisition (recorded in Cost of sales).

(b)

Represents the recognition of the stepped-up basis in inventory related to the Acquisition (recorded in Cost of sales).

(c)

Represents acquisition-related expenses (recorded in Selling, general and administrative), primarily consulting and legal fees, related to our acquisition of the Dana Off-Highway business (the "Acquisition"). 

(d)

Represents stock-based compensation expense (recorded in Cost of sales, Selling, general and administrative, and Engineering — research and development).

(e)

Represents gains (recorded in Other (expense) income, net) related to an investment in common stock of Jing-Jin Electric Technologies Co. Ltd.

(f)

Includes one-time restructuring costs, minority interest and one-time employee retention costs

(g)

Includes one-time acquisition-related investments

SOURCE Allison Transmission Holdings Inc.

Allison Transmission Holdings, Inc. (ALSN) Q1 2026 Earnings Call Transcript

INDIANAPOLIS, May 6, 2026 /PRNewswire/ -- Allison Transmission Holdings Inc. (NYSE: ALSN), a global leader in high-performance mobility and work solutions built for the needs of the modern industrial world, announced today that its Board of Directors has declared a cash dividend of $0.29 per share on the Company's common stock for the second quarter of 2026. Payment will be made on May 29, 2026, to stockholders of record at the close of business on May 18, 2026.

On May 15, 2026, Allison Transmission Holdings Inc (ALSN) shares fell 4.4% today, bringing the current price to $117.27. The stock has experienced a range of pe

Investors need to pay close attention to ALSN stock based on the movements in the options market lately.

, /PRNewswire/ -- Allison Transmission Holdings, Inc. (NYSE: ALSN), a global leader in high-performance mobility and work solutions, today announced that the next generation of tactical trucks for the French Land Forces will be equipped with its Specialty Series™ (SP) fully automatic transmissions. The Allison 4500 SP will be the standard offering on these tactical trucks built on Daimler Truck's Zetros 6x6 chassis. The French Ministry of the Armed Forces awarded the "Porteurs Logistiques 6 Tonnes" (PL6T) contract to Arquus for the "Zetros by Arquus" vehicle, which is the product of a strategic partnership between Arquus and Daimler Truck.

Arquus Defense This multi-million-dollar program represents a significant commitment to modernizing the logistics and operational capabilities of French Land Forces. It addresses expanding requirements for reliable performance in highly intense, demanding operations during an era of rapid defense modernization.

The PL6T program will produce and deliver 7,000 defense trucks over a period of more than 10 years, beginning with initial deliveries in 2027. All vehicles will feature a three-axle configuration powered by the Mercedes-Benz OM 460 engine, paired with the Allison 4500 SP automatic transmission. This combination delivers operational readiness while providing the reliability, durability and enhanced driving performance required for demanding defense operations.

"The selection of the Zetros platform with Allison's fully automatic transmission technology reflects our commitment to providing the French Armed Forces with best-in-class solutions," said Daniel Zittel, Head of Defense Sales at Daimler Truck. "This partnership leverages trust and shared commitment to deliver exceptional vehicles for modern operations. The proven reliability and driving performance of Allison transmissions will contribute significantly to vehicle readiness during field missions."

Allison's 4500 SP fully automatic transmission eliminates the need for manual shifting and shifts gears seamlessly without interruptions. Allison's Continuous Power Technology provides uninterrupted power to the wheels, allowing operators to focus on mission requirements and drive smoothly across all terrains.

"Our partnership with Arquus and Daimler Truck represents a significant milestone in Allison's continued commitment to supporting the evolving needs of our customers in the defense sector," said Taner Gider, Executive Director, Sales, Europe, Middle East and Asia Pacific, at Allison Transmission. "Allison's global market leadership in defense vehicle propulsion is built on our dedication to partnership and our ability to deliver the most reliable and valued propulsion solutions for mission-critical applications. The 4500 SP transmission has proven itself in the most demanding environments, and we are honored to support the modernization of the French Land Forces."

About Allison Transmission 

Allison Transmission Holdings, Inc. (NYSE: ALSN) ("Allison") is a global leader in high-performance mobility and work solutions built for the needs of the modern industrial world. Allison operates through two business units: Allison Transmission and Allison Off-Highway Drive & Motion Systems. Headquartered in Indianapolis, Indiana, USA, the Company manufactures solutions which offer industry-leading value propositions across vital sectors such as infrastructure, mining, energy, agriculture, construction, transportation and national security. For over 110 years, Allison has been recognized as a reliable partner of choice, keeping essential industries moving anytime, in over 150 countries around the world. For more information, visit https://allisontransmission.com

SOURCE Allison Transmission Holdings Inc.

Broadridge Financial Solutions, Inc. (BR) Presents at 21st Annual Needham Technology, Media, & Consumer Conference Transcript

Elevated view of students writing their GCSE exam

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As Ben Hogan said:

“Golf is not a game of good shots. It’s a game of bad shots.”

Just one bad stock can ruin your portfolio, and that fact is precisely why doing proper diligence is so important.

Why Is Diligence Hard to Find?Very few investors perform proper diligence. Here’s why:

It requires lots of hard work, such as reading thousands of pages of financial filings, particularly the footnotes.It is not exciting. How often do your hear Jim Cramer say “Diligence, diligence, diligence” like he cheers ”buy, buy, buy”?It does not help sell more IPOs, especially the bad ones where bankers don’t want investors to know the truth about earnings. For example, Sweetgreen (SG), Rivian (RIVN), Gitlab (GTLB), Allbirds (BIRD), Peloton (PTON), and more.Where To Get Diligence?Start with Core Earnings and the Bloomberg New Constructs Core Earnings Leaders Index (BCORET:IND). This index holds stocks where deep diligence reveals businesses that are more profitable than the market realizes, i.e. Core Earnings are higher than reported net income.

How To Avoid Bad Stocks?Most importantly, the index avoids companies that are less profitable than the market realizes, i.e. Core Earnings are lower than reported net income.

MORE FOR YOU

Below I detail two companies that were recently dropped from the index because their Core Earnings no longer exceed reported net income.

The Boeing Company (BA): Overstated EarningsMy firm’s Robo-Analyst AI parsed Boeing’s (BA) 2025 10-K and found billions in non-operating income that artificially inflate GAAP earnings. As a result, Boeing’s 2025 Core Earnings are much lower than the company’s reported earnings.

Boeing’s Core Earnings improved from -$7.4 billion in 2024 to -$2.6 billion in 2025. However, GAAP earnings improved much more, from -$11.9 billion to $1.9 billion, over the same time. Figure 1 shows the shift from -$4.5 billion in GAAP Earnings Distortion (Core Earnings > GAAP) in 2024 to $4.5 billion in GAAP Earnings Distortion (Core Earnings < GAAP) in 2025.

This multi-billion-dollar shift means Boeing is not as profitable as investors may think and is why it was removed from the Bloomberg New Constructs Core Earnings Leaders Index during the latest rebalance.

Figure 1: Boeing’s Core Earnings vs. GAAP Net Income: 2021 – 2025

BA Core Vs GAAP Earnings 2021-2025

New Constructs, LLC

How I Reconcile Boeing’s GAAP Earnings to Core EarningsBelow, I detail the hidden and reported unusual items that distort Boeing’s GAAP Earnings in 2025 as a real-world example of the work my firm does for all companies under coverage. I remove all of these unusual income and expense items from Core Earnings.

I provide these details so readers can audit my research and see the importance of reading 10-Ks and 10-Qs.

Boeing’s GAAP Earnings Distortion Score is strong miss and the stock earns an unattractive Stock Rating.

Boeing receives an Unattractive rating due to its negative economic earnings, return on invested capital (ROIC) of 0%, and expensive stock price.

Despite trading at $224/share, Boeing has an economic book value (EBV), or no-growth value, of -$53/share in large part because of its low ROIC and present value of total debt of $51.2 billion.

Boeing has a market-implied growth appreciation period (GAP) of greater than 100 years based on my Robo-Analyst’s default scenario in my reverse discounted cash flow (DCF) model.

Figure 2 details the differences, what I call GAAP Earnings Distortion, between Boeing’s 2025 Core Earnings and GAAP Earnings.

Figure 2: Boeing’s GAAP Earnings to Core Earnings Reconciliation: 2025

BA Core To GAAP Reconciliation 2025

New Constructs, LLC

Details on Key Data Found in the FootnotesBoeing’s 2025 GAAP EPS are $2.48, and Core EPS are -$3.46. The difference is GAAP Earnings Distortion of $5.94/share, or $4.5 billion, and is comprised of the following:

Hidden Unusual Expenses Pre-Tax, Net = -$7.05/share, which equals -$5.4 billion and is comprised of:

-$5.3 billion in 777x and 767 reach forward losses, abnormal production costs, and benefits from government assistance-$98 million in investment/asset impairment charges and acquisition related costsReported Unusual Income Pre-Tax, Net = $14.04/share, which equals $10.7 billion and is comprised of:

$9.7 billion in gain on dispositions$1.2 billion in other income and income from operating investments-$120 million contra adjustment for recurring pension costs. These recurring expenses are reported in non-recurring line items, so I add them back and exclude them from Earnings DistortionTax Distortion = -$1.05/per share, which equals -$803 million

Given that the majority of GAAP Earnings Distortion listed above is reported, specifically the $9.7 billion gain on disposition, unknowing investors may assume Wall Street adjusts for these items accordingly.

However, Boeing receives 30 Buy, Overweight, or Hold ratings and just 1 sell rating on Wall Street.

Investors armed with Core Earnings have a more comprehensive set of unusual items to calculate a superior measure of profitability.

When I cut through the accounting noise, I see that Boeing is not as profitable as GAAP earnings show, which is why it no longer earns a place in the Bloomberg New Constructs Core Earnings Leaders Index.

Broadridge Financial Solutions (BR): Less Than Meets the EyeA company can earn an Attractive-or-better rating and be removed from the Bloomberg New Constructs Core Earnings Leaders Index. Regardless of overall rating, if a company’s Core Earnings are lower than its GAAP Earnings, it doesn’t earn a spot in the index. Case in point: Broadridge Financial Solutions (BR).

Broadridge Financial Solutions’ Core Earnings were greater than its GAAP earnings from fiscal 2022 to fiscal 2025. However, after I parsed the company’s fiscal 2Q26 10-Q, trailing-twelve-month GAAP earnings surpassed Core Earnings. As a result, Broadridge Financial Solutions was removed from the index in the latest rebalance, even as it earns an attractive Stock Rating.

Broadridge Financial Solutions’ Core Earnings improved from $878 million in fiscal 2025 to $932 million in the TTM ended fiscal 2Q26. However, GAAP earnings improved much more, from $840 million to $1.1 billion, over the same time.

Figure 3 shows how Broadridge Financial Solutions’ GAAP Earnings Distortion increased from -$39 million (Core Earnings > GAAP) in fiscal 2025 to $135 million (Core Earnings < GAAP) in the TTM ended fiscal 2Q26.

Figure 3: Broadridge Financial Solutions’ Core Earnings vs. GAAP Net Income Since Fiscal 2021

BR Core Vs GAAP Earnings Fiscal 2021 - Fiscal 2Q26

New Constructs, LLC

How I Reconcile Broadridge’s GAAP Earnings to Core EarningsBelow, I detail the hidden and reported unusual items that distort Broadridge Financial Solutions’ GAAP Earnings in the TTM ended fiscal 2Q26.

Broadridge Financial Solutions’ GAAP Earnings Distortion Score is strong miss. The company’s GAAP Earnings Distortion of $135 million, or $1.14/share is 13% of reported earnings and 1.6% of total assets. In other words, Broadridge Financial Solutions’ GAAP earnings are overstated because they include $1.14/share of net unusual gains.

Figure 4 details the GAAP Earnings Distortion between Broadridge Financial Solutions’ TTM ended fiscal 2Q26 Core Earnings and GAAP Earnings.

Figure 4: Broadridge Financial GAAP Earnings to Core Earnings Reconciliation: TTM Fiscal 2Q26

BR Core To GAAP Reconciliation Fiscal 2Q26

New Constructs, LLC

Details on Key Data Found in the FootnotesBroadridge’s TTM ended 2Q26 GAAP EPS are $9.04, and Core EPS are $7.89. The difference is GAAP Earnings Distortion of $1.14/share, or $135 million, and is comprised of the following:

Hidden Unusual Expenses Pre-Tax, Net = -$0.43/share, which equals -$51 million and is comprised of:

-$29 million in restructuring and other related costs and write down of long-lived asset and related charges-$23 million in acquisition and integration costsReported Unusual Income Pre-Tax, Net = $1.97/share, which equals $233 million and is comprised of:

$233 million in other non-operating income primarily related to unrealized and realized gains on digital assetsTax Distortion = -$0.40/per share, which equals -$47 million

Given that the majority of GAAP Earnings Distortion listed above is reported, unknowing investors may assume common earnings metrics adjust for these items.

However, without making these material adjustments, as I do to calculate Core Earnings, investors would not realize how overstated GAAP Earnings are.

The company’s GAAP Earnings grew 27% from fiscal 2025 to the TTM ended 2Q26. Meanwhile, Broadridge’s Core Earnings grew just 6% over the same time.

Just as with Boeing above, investors armed with Core Earnings insights get a more accurate picture of the real profitability of Broadridge. With this edge, I see that the company is not as profitable as its GAAP earnings indicate, which is why it was removed from the Bloomberg New Constructs Core Earnings Leaders Index.

As I noted in the opening of this report, just one bad stock can ruin your portfolio. Core Earnings, and the Bloomberg New Constructs Core Earnings Leaders Index, empower investors to quickly and easily avoid the stocks of companies that aren’t as profitable as reported results would have you believe.

Using Core Earnings to Pick Stocks Drives AlphaYou don’t have to take my word for it when I say picking stocks based on Core Earnings drives novel alpha.

The outperformance of the Bloomberg New Constructs Core Earnings Leaders Index provides real-time proof.

Per Figure 5, The Bloomberg New Constructs Core Earnings Leaders Index beat the S&P 500 by 9% in 2025. The Index (ticker: BCORET:IND) was up 27% while the S&P 500 was up 18%.

Figure 5: Bloomberg New Constructs Core Earnings Leaders Index Outperforms S&P 500 in 2025

Bloomberg New Constructs Core Earnings Leaders Total Return 2025

New Constructs, LLC

Sources: Bloomberg as of December 31, 2025
Note: Past performance is no guarantee of future results

On May 18, 2026, Broadridge Financial Solutions Inc BR shares rose 3.4% today, closing at $150.62. The stock has fluctuated between a 52-week high of $271.91 and a low of $139.79, reflecting significant volatility over the past year.

GF Value™ verdict: Current price at $150.62 is 37.3% below GF Value™ of $240.34, indicating substantial upside potential.GF Score™ of 83/100 signifies a strong overall assessment based on quality metrics.Notable insider activity shows that insiders bought $1.0M of stock in the last 3 months, indicating confidence in the company's future. Is BR Overvalued or Undervalued? According to the GF Value™, Broadridge Financial Solutions Inc is currently undervalued, with its shares trading at $150.62 compared to a fair value estimate of $240.34. This represents a margin of safety of 37.3%, suggesting that the stock is trading significantly below its intrinsic value. The GF Valuation label indicates that the stock is "Significantly Undervalued," presenting a prime opportunity for potential investors, although caution is advised due to the stock’s recent price volatility and downward trend over the past year.

GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. Given the company's strong profitability and growth rankings, the undervaluation might imply that the market has not fully recognized Broadridge's potential for continued success.

How Does BR's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 16.1x 34.3x Forward P/E 14.5x N/A Broadridge's current P/E (TTM) of 16.1x is considerably below its 5-year median P/E of 34.3x, indicating that the stock is trading at a much lower valuation than its historical averages. This P/E analysis supports the GF Value™ verdict that the stock is undervalued, as it suggests that the market may not be fully pricing in the company’s growth potential.

What Does BR's GF Score™ Tell Us? Metric Rating GF Score™ 83 Financial Strength 6/10 Profitability 9/10 Growth 10/10 Valuation 4/10 Momentum 2/10 The GF Score™ of 83/100 indicates that Broadridge Financial Solutions Inc has a strong overall rating. The highest ratings are in Profitability (9/10) and Growth (10/10), showcasing the company's solid financial performance and growth prospects. However, the Valuation rank of 4/10 and Momentum rank of 2/10 suggest that the stock may be facing challenges in terms of market perception and recent price performance.

What Are Insiders Doing with BR Stock? Recent insider activity at Broadridge shows a positive trend, with insiders purchasing $1.0M worth of shares in the last three months and no reported selling. This buying activity often signals confidence in the company's future performance and may indicate that insiders believe the stock is undervalued at current levels. Such actions can provide a level of reassurance to outside investors regarding the company’s prospects.

What This Means for Investors Based on the analysis, Broadridge Financial Solutions Inc appears to be undervalued according to the GF Value™, presenting a significant margin of safety. While the stock has faced challenges in recent months, the strong GF Score™ and insider buying activity suggest potential for recovery and growth. However, investors should remain cautious and consider market conditions and overall economic factors.

For the complete analysis, visit the Broadridge Financial Solutions Inc BR stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is BR's GF Score™?

BR's GF Score™ is 83/100, indicating a strong overall assessment based on key financial metrics.

Is BR overvalued or undervalued?

BR is currently undervalued, with a GF Value™ of $240.34 compared to its current price of $150.62, suggesting significant upside potential.

What is BR's P/E ratio?

BR's P/E ratio is 16.1x, which is 53% below its 5-year median P/E of 34.3x, further supporting the notion that the stock is undervalued.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Broadridge Financial is rated Strong Buy, with Wall Street overlooking its transformation into a high-margin decentralized finance and AI infrastructure leader. BR's upside is driven by exponential DLR scaling, Agentic AI productivity gains, and LTX's centralization of corporate bond liquidity with top dealers. Despite topline compression risks from SEC digital-default mandates and slower closed sales, BR's margin expansion and FCF yield create a compelling entry point.

Broadridge Financial Solutions, Inc. (BR) Presents at Bernstein 42nd Annual Strategic Decisions Conference Transcript

Agentic AI and quantum-ready mainframe capabilities advance data center modernization

, /PRNewswire/ -- Kyndryl (NYSE: KD), a leading provider of mission-critical enterprise technology services, and Broadridge Financial Solutions, Inc. (NYSE: BR), a global Fintech leader, today announced an extension of their longstanding relationship strengthening core platforms and integrating AI-enabled operations alongside quantum-safe capabilities. Under the expanded agreement, Kyndryl Bridge, Kyndryl's AI-powered, open-integration platform, and Kyndryl's Agentic AI Framework will be leveraged to support Broadridge's strategy to drive the democratization and digitization of investing, simplify trading and modernize wealth management.

As part of the agreement to strengthen resiliency, scalability and cryptographic protection against emerging risks, Kyndryl will invest in further modernizing Broadridge's data center, network architecture and core mainframe environment, including a strategic refresh to a next-generation, quantum-safe platform. The transformation will also incorporate AI-enabled capabilities, leveraging the Kyndryl Agentic AI Framework to support more intelligent operations, faster issue resolution and reduced technical complexity.

"Our platforms support clients across all global financial services, where resiliency and trust are nonnegotiable," said Tyler Derr, CTO, Broadridge. "We are strengthening the infrastructure our clients rely on and we continue evolving our technology to meet rising regulatory, market and operational demands. We chose to extend our collaboration with Kyndryl because of their long-standing experience supporting mission-critical platforms in highly regulated environments."

"By modernizing core platforms and integrating AI-enabled operations alongside quantum-safe capabilities, we are helping Broadridge run mission-critical systems with greater confidence today while preparing for what comes next," said Jamie Rutledge, President, Kyndryl U.S. "As a DORA-designated critical third-party service provider, Kyndryl is uniquely positioned to continue to help Broadridge manage risk and support the integrity of financial market operations as resiliency, security and performance demands increase."

For Broadridge clients, this collaboration helps strengthen the resiliency, availability and future readiness of the critical platforms they depend on to support trading, communications and other essential financial services operations. Broadridge is better positioned to deliver:

Stronger performance and scalability to help support high-volume trading and communications activity without compromising reliability. More secure, resilient operations in an increasingly complex risk and regulatory environment. Faster, smarter issue resolution through AI-enabled insights that help identify and address problems before they impact service. A more future-ready technology foundation to support continued innovation while protecting core systems and data. Greater platform availability and business continuity so clients can rely on critical services even during disruptions or periods of market stress. About Broadridge
Broadridge Financial Solutions (NYSE: BR) is a global technology leader with trusted expertise and transformative technology, helping clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences.

Our technology and operations platforms process and generate over 7 billion communications annually and underpin the daily average trading of over $15 trillion in tokenized and traditional securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 15,000 associates in 21 countries.

For more information about us, please visit www.broadridge.com

Broadridge Contacts:

Investors:
[email protected]    

Media:
[email protected]

About Kyndryl
Kyndryl (NYSE: KD) is a leading provider of mission-critical enterprise technology services, offering advisory, implementation and managed service capabilities to thousands of customers in more than 60 countries. As the world's largest IT infrastructure services provider, the Company designs, builds, manages and modernizes the complex information systems that the world depends on every day. For more information, visit www.kyndryl.com.

Kyndryl Press Contact
[email protected]

SOURCE Kyndryl

Whether you're a value, growth, or momentum investor, finding strong stocks becomes easier with the Zacks Style Scores, a top feature of the Zacks Premium research service.

May 2026 ADV reaches $362 billion as momentum continues for institutional adoption of tokenized settlement and Broadridge's market-leading Distributed Ledger Repo

, /PRNewswire/ -- Broadridge Financial Solutions, Inc. (NYSE: BR), global Fintech leader, today announced that its Distributed Ledger Repo (DLR) processed an average of $362 billion in daily repo transactions during May, with volumes totaling $7.2 trillion. The daily average is a 220% increase year-over-year, underscoring the continued adoption of tokenized real-asset settlement and the growing role of distributed ledger technology as a scalable solution for capital markets.

"The sustained growth of DLR reflects a broader shift toward modernizing core market infrastructure with tokenized settlement," said Horacio Barakat, Global Head of Digital Innovation at Broadridge. "Institutions are increasingly looking for ways to improve liquidity efficiency and collateral mobility while maintaining operational simplicity. DLR is helping firms put tokenization to work in day-to-day market activity, delivering measurable benefits on an institutional scale."

As funding and collateral markets become increasingly complex, DLR provides firms with a scalable framework for managing liquidity through tokenized settlement. By enabling the efficient movement of tokenized securities within existing market workflows, DLR helps firms improve capital utilization, increase funding flexibility, and reduce operational friction while maintaining the controls and resiliency required in regulated markets.

Broadridge recently announced a comprehensive expansion of its tokenization capabilities, extending the proven infrastructure behind DLR to support tokenized securities across multiple asset classes. The initiative broadens Broadridge's ability to support the issuance, trading, settlement, and servicing of tokenized assets, enabling institutions to operate across traditional and digital markets through a single, integrated framework.

As tokenization continues to gain momentum across financial services, Broadridge is helping institutions modernize market infrastructure through scalable solutions that enhance liquidity, improve operational efficiency, and support the seamless movement of assets across markets. To learn more about DLR, the world's largest institutional platform for settling tokenized real assets, visit Broadridge's DLR.

About Broadridge's Tokenization Solutions

Broadridge enables on-chain proxy voting and governance, digital asset infrastructure including post trade, wallets and custody, and the scaling of digital asset capabilities across multiple asset classes. Through these innovations, Broadridge is helping financial institutions unlock the next era of digital assets investing.

Broadridge's Distributed Ledger Repo (DLR) solution is the world's largest institutional platform for settling tokenized real assets, tokenizing approximately over $365 billion a day. As tokenization gains momentum across financial services, Broadridge is meeting the complexity of operating across traditional and digital ecosystems with established scale, critical market knowledge, and technological expertise.

About Broadridge

Broadridge Financial Solutions (NYSE: BR) is a global technology leader with trusted expertise and transformative technology, helping clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences.

Our technology and operations platforms process and generate over 7 billion communications annually and underpin the daily average trading of over $15 trillion in tokenized and traditional securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 15,000 associates in 21 countries.

For more information about us, please visit www.broadridge.com 

Broadridge Contacts:

Investors: 
[email protected]           

Media:
[email protected]

SOURCE Broadridge Financial Solutions, Inc.

Broadridge Financial Solutions, Inc. (BR) Presents at RBC Capital Markets Global Financial Technology Conference 2026 Transcript

SG Americas Securities LLC raised its holdings in shares of nCino Inc. (NASDAQ: NCNO) by 170.5% in the undefined quarter, according to its most recent 13F filing with the SEC. The fund owned 51,368 shares of the company's stock after acquiring an additional 32,378 shares during the period. SG Americas Securities LLC's holdings

The consensus price target hints at a 29.3% upside potential for nCino (NCNO). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

On April 24, 2026, Ncino Inc NCNO shares rose 4.2% to a current price of $17.68. This marks a significant fluctuation within its 52-week range, which has seen a high of $33.92 and a low of $13.80.

GF Value™ verdict: Current price is $17.68 vs GF Value™ of $37.21, indicating a 52.5% upside potential.GF Score™ is 67/100, suggesting the stock is above average in terms of overall quality.Most notable signal: Insider activity shows that insiders sold $2.1M worth of stock in the last 3 months with no buying activity. Is NCNO Overvalued or Undervalued? The current price of Ncino Inc NCNO at $17.68 is significantly below the GF Value™ of $37.21, indicating that the stock is undervalued by approximately 52.5%. This substantial margin of safety presents an attractive opportunity for potential investors, as the stock is labeled as "Significantly Undervalued" by GF Valuation. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.

While the undervaluation suggests potential upside, it is essential to consider the risks involved. The company's financial strength ranks at 6/10, which is moderate, and its profitability rank is lower at 3/10. These factors may indicate underlying challenges that could affect future performance. Nonetheless, the significant difference between the current price and the GF Value™ suggests that there may be a substantial upside for investors who can navigate these risks.

How Does NCNO's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 353.6x 329.6x (5-Year Median) Forward P/E 14.9x N/A The current P/E ratio of 353.6x is above its 5-year median P/E of 329.6x, indicating that NCNO is trading at a premium compared to its historical valuation. However, the forward P/E of 14.9x suggests a more favorable outlook for future earnings. This P/E analysis is somewhat in alignment with the GF Value™ verdict, as the high current P/E could reflect investor optimism or market inefficiencies that have not yet translated into financial performance.

What Does NCNO's GF Score™ Tell Us? Metric Rating GF Score™ 67/100 Financial Strength 6/10 Profitability 3/10 Growth 7/10 Valuation 2/10 Momentum 4/10 The GF Score™ of 67/100 indicates that Ncino Inc is performing above average in terms of quality. The strongest area is its growth rank at 7/10, suggesting good potential for future expansion. Conversely, the profitability rank of 3/10 signifies that the company may face challenges in generating consistent profits, while the valuation rank of 2/10 reflects concerns over the current price levels relative to its intrinsic value.

What Are Insiders Doing with NCNO Stock? Recent insider activity reveals that insiders have sold $2.1 million worth of Ncino Inc NCNO stock over the past three months, with no reported purchases. This selling activity may indicate a lack of confidence from insiders in the stock's short-term performance. Such trends can often be interpreted as a bearish signal, leading investors to proceed with caution.

What This Means for Investors Based on the GF Value™ analysis, Ncino Inc NCNO is currently undervalued with a potential upside of 52.5%. While the stock presents an opportunity, the mixed signals from insider activity and profitability metrics suggest that investors should be mindful of the associated risks.

For the complete analysis, visit the Ncino Inc NCNO stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is NCNO's GF Score™?

NCNO's GF Score™ is 67/100, indicating that the stock is above average in terms of quality and long-term return potential.

Is NCNO overvalued or undervalued?

According to GF Value™, NCNO is undervalued, with a current price of $17.68 compared to a GF Value™ of $37.21, suggesting significant upside potential.

What is NCNO's P/E ratio?

NCNO's current P/E ratio is 353.6x, which is above its 5-year median P/E of 329.6x, indicating the stock is trading at a premium compared to its historical valuation.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider nCino (NCNO - Free Report) . This company, which is in the Zacks Internet - Software industry, shows potential for another earnings beat.

This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 65.60%.

For the most recent quarter, nCino was expected to post earnings of $0.21 per share, but it reported $0.37 per share instead, representing a surprise of 76.19%. For the previous quarter, the consensus estimate was $0.2 per share, while it actually produced $0.31 per share, a surprise of 55.00%.

Price and EPS Surprise

For nCino, estimates have been trending higher, thanks in part to this earnings surprise history. And when you look at the stock's positive Zacks Earnings ESP (Expected Surprise Prediction), it's a great indicator of a future earnings beat, especially when combined with its solid Zacks Rank.

Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.

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

nCino currently has an Earnings ESP of +3.68%, which suggests that analysts have recently become bullish on the company's earnings prospects. This positive Earnings ESP when combined with the stock's Zacks Rank #1 (Strong Buy) indicates that another beat is possibly around the corner.

Investors should note, however, that a negative Earnings ESP reading is not indicative of an earnings miss, but a negative value does reduce the predictive power of this metric.

Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate.

Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

May 13, 2026 08:00 ET  | Source: nCino, Inc.

Nearly 9 in 10 senior banking executives say AI Agents are the future, but only 1 in 5 are currently tying it to revenue

Barriers remain to turn AI momentum into measurable ROI

CHARLOTTE, N.C., May 13, 2026 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), the platform for agentic AI banking, today released its inaugural “nCino AI in Banking Benchmark,” which revealed that the majority of bankers (89%) see a future defined by a dual workforce of AI agents and humans within five years.

While institutions have made meaningful progress in adopting AI and defining strategy, many are still working to translate that activity into business outcomes, marking a pivotal shift from exploring various use cases to utilizing as a strategic growth enabler at scale. In fact, the report found that only 21% of respondents indicate that they are currently tying their AI investments to increased revenue.

This survey was launched at nSight 2026, nCino’s 14th annual industry event being held May 12-14 in Charlotte, North Carolina. It was fielded between late March and early April 2026 among 150 U.S. banking senior technology and business decision-makers.

“As AI adoption accelerates, this report reveals that banking leaders are rethinking how work gets done, increasingly moving to a dual workforce of AI agents and humans,” said Sean Desmond, Chief Executive Officer at nCino. “The next phase is turning that motion into real momentum, ensuring AI investments deliver measurable business outcomes. That requires treating AI not just as a technology initiative, but as a transformation of how institutions operate, compete and serve their customers.”

AI Has Moved to the Core of the Banking Enterprise

AI is now firmly embedded in banking operations, with the majority of institutions utilizing it at an enterprise level (84%). What began as experimentation has evolved into everyday integration, with the report showing 91% of respondents say it enables their time to be spent on higher value or customer-facing work.

This shift is being accelerated by agentic AI, which is already reshaping roles across the organization and laying the foundation for a dual workforce model. According to the report, 84% of bankers say it has already significantly changed how most banking roles operate and 89% expect to be working alongside AI agents within the next five years.

AI Adoption Is Outpacing Accountability

The report reveals that while most banks (91%) have defined AI strategies, many are still early in linking those investments to KPIs. A majority (81%) of executives prioritize adoption over return on investment, with relatively few tying AI initiatives to cost reduction (26%) or revenue growth (21%). As a result, many organizations remain in motion—without yet achieving the momentum needed to drive sustained business impact.

Confidence in Data is High—But There are Cracks Beneath It

One of the primary barriers to translating AI momentum into business impact is data. The survey shows that the majority (87%) of banking executives feel confident about their ability to access good, quality data—good news for AI adoption. Yet nearly all (93%) cite at least one data governance challenge, including:

Data siloed across systems (52%)Compromised data integrity (41%)Inconsistent or incomplete data (37%)Poor data quality (34%) Against this backdrop, the report found that 94% of executives say a fully integrated, end-to-end AI solution could deliver more value to their organization.

“ConnectOne has consistently operated among the top-performing institutions for efficiency, and we take pride in working with partners like nCino that help us continue to enhance that efficiency as we scale,” said Frank Sorrentino, Chairman and Chief Executive Officer of ConnectOne Bank. “As the pace of technological change accelerates, the institutions best positioned to lead will be those that rethink how they operate, apply modern solutions with purpose, and work with partners who can help translate innovation into meaningful outcomes for clients, teams, and shareholders.”

To download the full report, visit the nCino website.

Methodology

The nCino AI in Banking Benchmark was fielded between late March and early April 2026 among 150 U.S. banking senior technology and business decision-makers. Respondents’ roles included CEOs, CIOs, CTOs, Managing Directors, and VPs, and were employed across credit unions, community banks, regional and super-regional banks, and global financial institutions. All participants have direct influence over or responsibility for technology strategy and investment decisions. The survey was designed to assess how financial institutions are adopting and operationalizing AI, where strategic alignment and execution challenges persist, and how banks are measuring business impact and return on investment from AI initiatives.

About nCino 
nCino (NASDAQ: NCNO) is the platform for agentic AI banking. With over 2,700 customers worldwide — including community banks, credit unions, independent mortgage banks, and the largest financial entities globally — nCino offers a trusted, agentic platform purpose-built for financial services and regulated industries. By deploying AI agents alongside human teams, nCino's dual workforce enables institutions to eliminate inefficiencies, sharpen decision-making and deliver better outcomes for the customers they serve. For more information, visit www.ncino.com. 

Media Contact 
Riley Keyzer 
[email protected] 

Forward-Looking Statements:
This press release contains forward-looking statements about nCino's financial and operating results, which include statements regarding nCino’s future performance, outlook, guidance, the benefits from the use of nCino’s solutions, our strategies, and general business conditions. Forward-looking statements generally include actions, events, results, strategies and expectations and are often identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may,” “will,” “could,” “might,” or “continues” or similar expressions and the negatives thereof. Any forward-looking statements contained in this press release are based upon nCino’s historical performance and its current plans, estimates, and expectations and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent nCino’s expectations as of the date of this press release. Subsequent events may cause these expectations to change and, except as may be required by law, nCino does not undertake any obligation to update or revise these forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially including, but not limited to risks associated with (i) adverse changes in the financial services industry, including as a result of customer consolidation or bank failures; (ii) adverse changes in economic, regulatory, or market conditions, including as a direct or indirect consequence of higher interest rates; (iii) risks associated with acquisitions we undertake, (iv) breaches in our security measures or unauthorized access to our customers’ or their clients' data; (v) the accuracy of management’s assumptions and estimates; (vi) our ability to attract new customers and succeed in having current customers expand their use of our solution, including in connection with our migration to an asset-based pricing model; (vii) competitive factors, including pricing pressures and migration to asset-based pricing, consolidation among competitors, entry of new competitors, the launch of new products and marketing initiatives by our competitors, and difficulty securing rights to access or integrate with third party products or data used by our customers; (viii) the rate of adoption of our newer solutions and the results of our efforts to sustain or expand the use and adoption of our more established solutions; (ix) fluctuation of our results of operations, which may make period-to-period comparisons less meaningful; (x) our ability to manage our growth effectively including expanding outside of the United States; (xi) adverse changes in our relationship with Salesforce; (xii) our ability to successfully acquire new companies and/or integrate acquisitions into our existing organization; (xiii) the loss of one or more customers, particularly any of our larger customers, or a reduction in the number of users our customers purchase access and use rights for; (xiv) system unavailability, system performance problems, or loss of data due to disruptions or other problems with our computing infrastructure or the infrastructure we rely on that is operated by third parties; (xv) our ability to maintain our corporate culture and attract and retain highly skilled employees; and (xvi) the outcome and impact of legal proceedings and related fees and expenses.

Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:

Universal Insurance Holdings, Inc. (UVE - Free Report) : This insurance holding company has seen the Zacks Consensus Estimate for its current year earnings increasing 18.8% over the last 60 days.

Lifetime Brands, Inc. (LCUT - Free Report) : This housewares company has seen the Zacks Consensus Estimate for its current year earnings increasing 19.7% over the last 60 days.

CrossAmerica Partners LP (CAPL - Free Report) : This fuel distribution and convenience store company has seen the Zacks Consensus Estimate for its current year earnings increasing 146.5% over the last 60 days.

nCino, Inc. (NCNO - Free Report) : This software-as-a-service company has seen the Zacks Consensus Estimate for its current year earnings increasing 17.2% over the last 60 days.

FGI Industries Ltd. (FGI - Free Report) : This bath and kitchen products company has seen the Zacks Consensus Estimate for its current year earnings increasing 74.5% over the last 60 days.

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

May 20, 2026 16:05 ET  | Source: nCino, Inc.

WILMINGTON, N.C., May 20, 2026 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), the platform for agentic AI banking, today announced its participation in the following investor conference:

William Blair’s 46th Annual Growth Stock Conference
Presentation: Wednesday June 3, 2026, at 12:20 p.m. ET  

The live webcast, as well as a replay from the event, will be available on the Company’s Investor Relations website at https://investor.ncino.com/news-events/events-presentations.

About nCino  
nCino (NASDAQ: NCNO) is the platform for agentic AI banking. With over 2,700 customers worldwide - including community banks, credit unions, independent mortgage banks, and the largest financial entities globally - nCino offers a trusted, agentic platform purpose-built for financial services and regulated industries. By deploying AI agents alongside human teams, nCino’s dual workforce enables institutions to eliminate inefficiencies, sharpen decision-making and deliver better outcomes for the customers they serve. For more information, visit www.ncino.com.    

nCino (NCNO - Free Report) came out with quarterly earnings of $0.33 per share, beating the Zacks Consensus Estimate of $0.28 per share. This compares to earnings of $0.16 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +17.86%. A quarter ago, it was expected that this company would post earnings of $0.21 per share when it actually produced earnings of $0.37, delivering a surprise of +76.19%.

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

nCino, which belongs to the Zacks Internet - Software industry, posted revenues of $159.41 million for the quarter ended April 2026, surpassing the Zacks Consensus Estimate by 2.29%. This compares to year-ago revenues of $144.14 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.

nCino shares have lost about 40.6% since the beginning of the year versus the S&P 500's gain of 9.8%.

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

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.26 on $158.91 million in revenues for the coming quarter and $1.16 on $640.96 million 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, Internet - Software is currently in the top 33% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

PagerDuty (PD - Free Report) , another stock in the same industry, has yet to report results for the quarter ended April 2026. The results are expected to be released on May 28.

This software developer is expected to post quarterly earnings of $0.24 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.

PagerDuty's revenues are expected to be $119.18 million, down 0.5% from the year-ago quarter.

On May 28, 2026, Ncino Inc NCNO shares rose 4.5% today, closing at $15.85. The stock has seen significant volatility over the past year, with a 52-week range between $13.80 and $33.92.

GF Value™ verdict: Current price of $15.85 is 57.6% below GF Value™ of $37.39, indicating significant undervaluation.GF Score™ of 70/100 suggests above-average potential for generating returns.Insider activity indicates skepticism, with insiders selling $2.9 million in stock over the last three months and no buying activity reported. Is NCNO Overvalued or Undervalued? According to the GF Value™, Ncino Inc is currently undervalued. The current price of $15.85 is substantially lower than the GF Value™ estimate of $37.39, presenting a margin of safety of 57.6%. This suggests that the stock may have significant upside potential. However, the GF Valuation label describes it as a "Possible Value Trap," which implies caution should be exercised. While the undervaluation may provide an opportunity, the risks associated with it, including recent insider selling and a relatively low GF Score™, should not be overlooked.

GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.

How Does NCNO's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 132.1x 322.8x Forward P/E 13.2x N/A The current P/E ratio of 132.1x is significantly lower than its 5-year median P/E of 322.8x, indicating that the stock is trading well below its historical valuation levels. The forward P/E of 13.2x further supports the notion that the stock is undervalued relative to its historical performance. This P/E analysis aligns with the GF Value™ verdict, reinforcing the view that Ncino Inc may represent a buying opportunity, albeit with the associated risks of a value trap.

What Does NCNO's GF Score™ Tell Us? Metric Rating GF Score™ 70/100 Financial Strength 6/10 Profitability 4/10 Growth 9/10 Valuation 2/10 Momentum 4/10 The GF Score™ of 70/100 indicates that Ncino Inc has above-average potential for long-term returns. The strongest aspect is growth, where it scored 9/10, suggesting robust growth prospects. However, the weakest area is valuation, scoring only 2/10, which indicates that while the stock may be undervalued, there are significant concerns regarding its current price relative to its intrinsic value.

What Are Insiders Doing with NCNO Stock? Recent insider activity shows that insiders have sold $2.9 million worth of stock over the last three months, with no buying activity reported. This pattern may suggest that those within the company have less confidence in the stock's near-term performance, raising concerns for potential investors.

Without any buying from insiders, the selling activity may indicate that they are anticipating challenges ahead, which could affect the company's future performance and stock price.

What This Means for Investors Based on the GF Value™ analysis, Ncino Inc appears to be undervalued at a current price of $15.85 compared to its GF Value™ of $37.39. However, potential investors should be cautious due to the warning of a possible value trap and the recent insider selling, which could signal underlying issues within the company.

For the complete analysis, visit the Ncino Inc NCNO stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is NCNO's GF Score™?

The GF Score™ for Ncino Inc is 70/100, indicating above-average potential for generating long-term returns based on key financial metrics.

Is NCNO overvalued or undervalued?

Ncino Inc is considered undervalued, with a current price of $15.85 that is significantly lower than the GF Value™ estimate of $37.39.

What is NCNO's P/E ratio?

NCNO has a P/E ratio of 132.1x based on trailing twelve months, which is significantly lower than its 5-year median P/E of 322.8x, indicating a potential for undervaluation.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].