Funding will enhance capabilities at Pratt & Whitney Canada's global headquarters and largest manufacturing site
, /PRNewswire/ -- Farnborough International Airshow — Pratt & Whitney Canada announced today a $275 million Canadian dollar investment to enhance manufacturing operations at its Longueuil, Quebec, facility. The investment will be funded by Pratt & Whitney Canada with support from Innovation, Science and Economic Development Canada and the Ministère de l'Économie, de l'Innovation et de l'Énergie du Québec. Pratt & Whitney is an RTX (NYSE: RTX) business.
"This strategic investment in Longueuil strengthens our industrial capacity, enabling us to better support our customers and meet growing global demand," said Satheeshkumar Kumarasingam, president, Pratt & Whitney Canada. "It also reinforces our longstanding role as a pillar of the Québec aerospace ecosystem and a major contributor to Canadian aviation."
With this investment, Pratt & Whitney Canada will enhance industrial capabilities at its largest manufacturing facility, where nearly 4,500 employees support the production of engines for regional, business, general aviation and rotorcraft platforms. The site will add automated production lines, modernized machinery and cutting-edge digital processes, helping to drive greater efficiency and precision throughout its operations.
About Pratt & Whitney
Pratt & Whitney, an RTX business, is a world leader in the design, manufacture and service of aircraft engines and auxiliary power units for military, commercial and civil aviation customers. Since 1925, our engineers have pioneered the development of revolutionary aircraft propulsion technologies, and today we support more than 90,000 in-service engines through our global network of maintenance, repair and overhaul facilities.
About RTX
With more than 180,000 global employees, we push the limits of technology and science to redefine how we connect and protect our world. With industry-leading capabilities, we advance aviation, engineer integrated defense systems for operational success, and develop next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2025 sales of more than $88 billion, is headquartered in Arlington, Virginia.
For questions or to schedule an interview, please contact [email protected]
Charles Schwab ve 2. čtvrtletí vykázal zisk 1,62 USD na akcii a tržby 7,07 miliardy USD, obojí nad odhady. Zisk na akcii byl meziročně vyšší než 1,14 USD.
The Charles Schwab Corporation (SCHW - Free Report) came out with quarterly earnings of $1.62 per share, beating the Zacks Consensus Estimate of $1.53 per share. This compares to earnings of $1.14 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +5.88%. A quarter ago, it was expected that this company would post earnings of $1.39 per share when it actually produced earnings of $1.43, delivering a surprise of +2.88%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Charles Schwab, which belongs to the Zacks Financial - Investment Bank industry, posted revenues of $7.07 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 2.71%. This compares to year-ago revenues of $5.85 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Charles Schwab shares have added about 2.6% since the beginning of the year versus the S&P 500's gain of 8.7%.
What's Next for Charles Schwab?While Charles Schwab 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 Charles Schwab 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 $1.63 on $7.09 billion in revenues for the coming quarter and $6.27 on $27.52 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, Financial - Investment Bank is currently in the top 11% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Stifel Financial (SF - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on July 22.
This brokerage and investment banking firm is expected to post quarterly earnings of $1.35 per share in its upcoming report, which represents a year-over-year change of +18.4%. The consensus EPS estimate for the quarter has been revised 0.3% lower over the last 30 days to the current level.
Stifel Financial's revenues are expected to be $1.41 billion, up 9.7% from the year-ago quarter.
Air Products San Fu získala dlouhodobou smlouvu na podporu rozšíření polovodičové výroby na Tchaj-wanu. Postaví čtyři nové jednotky pro separaci vzduchu a potrubní systémy pro dusík, kyslík, argon i helium.
New investment to support next-generation facility expansion
, /PRNewswire/ -- Air Products (NYSE: APD), a world-leading industrial gases company, today announced Air Products San Fu has been awarded a long-term agreement to support a semiconductor manufacturer's expansion in Taiwan. The project will supply multiple new semiconductor fabs and back-end packaging facilities, supporting growing demand driven by artificial intelligence and high-performance computing.
Air Products San Fu will build, own, and operate four large state-of-the-art air separation units and bulk gas supply systems with new underground pipeline systems. The company will supply a range of industrial gases, including nitrogen, oxygen, argon, and helium to support the customer's semiconductor operations.
The new underground pipeline systems will be connected to Air Products' existing pipeline network in Taiwan, further enhancing supply reliability, operational efficiency, and resilience.
"Air Products is honored to be selected by our strategic customer to support their continued growth, building on our proven track record and strong long-term partnership," said Paul Yang, President, Air Products San Fu. "This project further reinforces our role as a trusted supplier in Taiwan and reflects our long-term commitment to grow with our customers. It also underscores our world-class performance in safety, reliability and operational excellence, which are critical to meeting the increasingly demanding requirements of the electronics industry."
Air Products has been serving the Taiwan market through Air Products San Fu for more than 70 years and has established leading supply positions across key science parks with extensive pipeline networks. The company operates one of the world's largest ultra-high purity nitrogen pipeline systems in Southern Taiwan and is the first gas company in Taiwan awarded ISO9002 and ISO14000 certifications.
This latest project further strengthens Air Products' integrated supply footprint across both front-end semiconductor manufacturing and back-end advanced packaging, reinforcing its position as a key supplier to the electronics industry in Taiwan.
Air Products has served the global electronics industry for more than 40 years, supplying industrial gases safely and reliably to many of the world's leading technology companies.
About Air Products
Air Products (NYSE: APD) is a world-leading industrial gases company in operation for over 85 years focused on serving energy, environmental, and emerging markets and generating a cleaner future. The Company supplies essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, medical and food. As the leading global hydrogen supplier, Air Products develops, engineers, builds, owns and operates some of the world's largest hydrogen projects. Through its sale of equipment businesses, the Company also provides turbomachinery, membrane systems and cryogenic containers globally.
Air Products had fiscal 2025 sales of $12 billion from operations in approximately 50 countries. For more information, visit airproducts.com or follow us on LinkedIn, X, Facebook or Instagram.
This release contains "forward-looking statements" within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's expectations and assumptions as of the date of this release and are not guarantees of future performance. While forward-looking statements are made in good faith and based on assumptions, expectations and projections that management believes are reasonable based on currently available information, actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors, including the risk factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2025 and other factors disclosed in our filings with the Securities and Exchange Commission. Except as required by law, we disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change in the assumptions, beliefs or expectations or any change in events, conditions or circumstances upon which any such forward-looking statements are based.
Investment firm William Blair recently cut its estimates for Coinbase (COIN +8.31%), the largest U.S. cryptocurrency exchange. Interestingly, it also reiterated an outperform rating for Coinbase, suggested that clients stay invested, and advised that the crypto market could be near its bottom.
Coinbase stock has plummeted over the last year, from an all-time high of $445 on July 17, 2025, to $157 as of July 17, 2026. Here are the details on William Blair's analysis and whether this is a good buying opportunity for Coinbase.
Image source: The Motley Fool.
William Blair's outlook on Coinbase and the crypto market William Blair reduced annual revenue estimates for Coinbase by 12% in 2026 and 13% in 2027. It also cut its EBITDA (earnings before interest, taxes, depreciation, and amortization) estimates by 34% for both years, and it expects Coinbase's trading volume to fall 44% to $669 billion in 2026.
These predictions make sense when you consider Coinbase's dependence on the crypto market and how the bear market has already affected it. Coinbase reported revenue of $1.4 billion in Q1 2026, a 31% year-over-year decrease. The crypto exchange also had a net loss of $394 million that quarter, compared to net income of $66 million in Q1 2025.
As a crypto exchange, Coinbase makes a large portion of its revenue (54% in Q1 2026) from transaction fees. During bear markets, enthusiasm for crypto fades, fewer people want to buy, and trading activity drops.
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William Blair remains bullish on Coinbase for a few reasons. It believes that the crypto bear market is close to a bottom with Bitcoin prices stabilizing, and that trading volumes will rebound by 32% in 2027. The firm also sees the current situation much differently than the lengthy bear market that started in 2022, with Bitcoin ETFs, institutional adoption, and the regulatory environment all potentially helping the market recover more quickly.
Although Coinbase makes money from trading fees, it has developed additional revenue streams. It now offers tokenized real-world assets (RWAs), prediction markets, and retail derivatives, all of which could make it a more resilient investment.
This could be a good buy-the-dip opportunity for Coinbase stock, although I'd take a cautious approach. While Coinbase has branched out, trading fees are still its bread and butter. It'll likely continue to perform best during bull markets when investors are excited about cryptocurrency and trading activity is high. During bear markets, it will probably keep underperforming.
When the crypto market rebounds, Coinbase should rise with it, but there's no way to be sure when that will happen. Previous bear markets have lasted for years, so investors should take predictions that we're near the bottom with a grain of salt. The safest approach is to keep your crypto allocation, including cryptocurrencies and crypto stocks, to a small portion of your investment portfolio.
Fortinet začne vyrábět svůj příští bezpečnostní čip SP6 v závodech Intel Foundry na procesu Intel 4. Jde o prvního jmenovaného zákazníka pod vedením Lip-Bu Tana.
While Intel continues to pursue a marquee customer for its foundry services, the chipmaker has landed a notable client from the cybersecurity space.
Fortinet will use Intel's foundry to produce its next-generation security chip, the two companies announced Tuesday, marking a win for Intel CEO Lip-Bu Tan, who took over the company in March 2025. Fortinet's chip, SP6, will be manufactured on the Intel 4 process, an Intel representative told CNBC.
Intel said in a filing in April that it's still trying to secure a "significant" customer for the company's most advanced manufacturing technology, as it tries to justify the large capital expenditures needed to build factories in the U.S. and overseas.
The company's leading processes designed to manufacture computer processors are known as 14A and 18A. Intel 4 is older manufacturing technology that's less advanced and was established for simpler chips called ASICs for networking.
Tan told CNBC's Jim Cramer in May that "multiple customers" were working with Intel's foundry, but he also said that it's his personal policy not to disclose their names. A major customer announcement would increase confidence among chip designers and investors that Intel is capable of building the most advanced chips in large quantities.
So far, Intel's biggest confirmed customer for its foundry is itself. The U.S. government is also using the foundry to make chips for defense. Under Pat Gelsinger, Intel's previous CEO, Microsoft announced a partnership with the chipmaker to manufacture an unspecified processor in 2024, and Amazon said later that year it would use Intel to build a custom artificial intelligence chip, but those announcements were for relatively low-volume chips.
In April, Intel said it would help design an ASIC with Google that it calls an infrastructure processing unit. Intel is also helping Elon Musk's Tesla and SpaceX build a chip factory called Terafab. And President Donald Trump said in June that Apple would use Intel to manufacture chips in the U.S., but neither company has officially confirmed a deal. The U.S. government took a 10% stake in Intel in August, sparking a rally that's lifted the chipmaker's stock price by more than 300% in the past year.
Intel is scheduled to report second-quarter results on Thursday after the bell.
Fortinet doesn't have the name recognition of Apple, Tesla or any of the hyperscalers, but it's operating in a hot market due to the heightened demand for advanced security in a world increasingly dominated by AI. Fortinet's stock price has more than doubled this year, and the company said on its last earnings call in May that it would keep in investing in its ASIC technology.
Halliburton (HAL - Free Report) came out with quarterly earnings of $0.55 per share, beating the Zacks Consensus Estimate of $0.54 per share. This compares to earnings of $0.55 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +1.85%. A quarter ago, it was expected that this provider of drilling services to oil and gas operators would post earnings of $0.49 per share when it actually produced earnings of $0.55, delivering a surprise of +12.24%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Halliburton, which belongs to the Zacks Oil and Gas - Field Services industry, posted revenues of $5.71 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 4.19%. This compares to year-ago revenues of $5.51 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Halliburton shares have added about 24.2% since the beginning of the year versus the S&P 500's gain of 8.7%.
What's Next for Halliburton?While Halliburton 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 Halliburton 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 $0.60 on $5.66 billion in revenues for the coming quarter and $2.36 on $22.25 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Field Services is currently in the bottom 36% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Drilling Tools International Corp. (DTI - Free Report) , has yet to report results for the quarter ended June 2026.
This company is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents a year-over-year change of -100%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Drilling Tools International Corp.'s revenues are expected to be $38.01 million, down 3.6% from the year-ago quarter.
Baader Bank Aktiengesellschaft boosted its holdings in shares of Lam Research Corporation (NASDAQ:LRCX – Free Report) by 123.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,530 shares of the semiconductor company’s stock after acquiring an additional 9,126 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Lam Research were worth $3,435,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in Lam Research by 0.4% during the 3rd quarter. State Street Corp now owns 59,817,352 shares of the semiconductor company’s stock valued at $8,024,684,000 after acquiring an additional 265,805 shares during the period. Geode Capital Management LLC grew its position in Lam Research by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 33,747,368 shares of the semiconductor company’s stock valued at $5,764,117,000 after acquiring an additional 126,613 shares in the last quarter. Invesco Ltd. increased its stake in Lam Research by 7.7% during the fourth quarter. Invesco Ltd. now owns 22,821,354 shares of the semiconductor company’s stock worth $3,906,559,000 after purchasing an additional 1,638,406 shares during the period. Norges Bank purchased a new stake in Lam Research during the fourth quarter worth about $3,645,427,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Lam Research by 352.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,695,210 shares of the semiconductor company’s stock worth $2,344,347,000 after purchasing an additional 10,666,540 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.
Analysts Set New Price Targets LRCX has been the subject of several recent research reports. Erste Group Bank cut shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Needham & Company LLC increased their price objective on Lam Research from $300.00 to $390.00 and gave the company a “buy” rating in a research note on Friday, July 10th. BNP Paribas Exane lifted their target price on Lam Research from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, April 23rd. B. Riley Financial boosted their target price on Lam Research from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, Zacks Research downgraded Lam Research from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Twenty-eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $360.51.
Read Our Latest Research Report on Lam Research
Lam Research Stock Down 2.1% Lam Research stock opened at $306.76 on Tuesday. The stock has a market cap of $383.62 billion, a PE ratio of 57.88, a P/E/G ratio of 1.86 and a beta of 1.80. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.54 and a quick ratio of 1.77. The stock’s fifty day moving average is $339.79 and its two-hundred day moving average is $270.54. Lam Research Corporation has a 1-year low of $90.93 and a 1-year high of $438.50.
Lam Research (NASDAQ:LRCX – Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.11. Lam Research had a net margin of 30.94% and a return on equity of 66.21%. The company had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter last year, the company earned $1.04 earnings per share. The firm’s revenue for the quarter was up 23.8% on a year-over-year basis. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. On average, sell-side analysts expect that Lam Research Corporation will post 5.68 EPS for the current fiscal year.
Lam Research Dividend Announcement The business also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.3%. Lam Research’s dividend payout ratio (DPR) is currently 19.62%.
Key Headlines Impacting Lam Research Here are the key news stories impacting Lam Research this week:
Positive Sentiment: Lam Research joined the AI Materials Foundry as a founding partner, a new CuspAI-led initiative focused on using AI and shared lab resources to speed up discovery of advanced semiconductor materials, which could support future product and technology demand. Lam Research (LRCX) Joins AI Materials Foundry To Help Shape Future Chip Materials Positive Sentiment: Lam Research was highlighted by Zacks as one of the semiconductor names benefiting from the AI boom, which continues to drive demand for advanced chips and equipment. 3 Stocks to Buy From the Prospering Semiconductor Industry Positive Sentiment: Another Zacks note said LRCX is among the tech stocks likely to deliver earnings surprises this season, reinforcing expectations for solid near-term fundamentals. 4 Top-Ranked Tech Stocks Set to Beat Expectations This Earnings Season Neutral Sentiment: Brokerages reportedly maintained a consensus “Moderate Buy” rating on Lam Research, suggesting Wall Street remains constructive but not overly aggressive on the stock. Lam Research Corporation Given Consensus Recommendation of “Moderate Buy” by Brokerages Neutral Sentiment: Oppenheimer included LRCX on its “best of the best” momentum list, another sign of positive sentiment but not a new fundamental catalyst by itself. Oppenheimer’s ‘best of the best’ momentum list: NVDA, LRCX and more Negative Sentiment: Lam Research slipped more than the broader market in the latest session, reflecting near-term pressure on the shares. Lam Research (LRCX) Dips More Than Broader Market: What You Should Know Negative Sentiment: Broader semiconductor stocks have entered a bear market, and investors are questioning whether the AI-driven rally has overheated, which is weighing on the entire chip group including LRCX. Semiconductor stocks enter bear market: Is bubble burst next? Negative Sentiment: A Bloomberg report noted that investors are pressuring big AI spenders to justify their capital outlays, adding caution to the semiconductor and AI hardware trade. Big Tech Needs to Justify AI Spending as Investors Dump Stocks Insider Activity In related news, SVP Neil J. Fernandes sold 18,170 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $255.14, for a total transaction of $4,635,893.80. Following the completion of the transaction, the senior vice president directly owned 66,129 shares of the company’s stock, valued at $16,872,153.06. This represents a 21.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Brandt sold 54,500 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $350.80, for a total transaction of $19,118,600.00. Following the completion of the sale, the director owned 199,205 shares of the company’s stock, valued at approximately $69,881,114. The trade was a 21.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 104,621 shares of company stock valued at $33,804,737. Corporate insiders own 0.31% of the company’s stock.
About Lam Research (Free Report)
Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.
Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.
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D.R. Horton (DHI - Free Report) came out with quarterly earnings of $3.2 per share, beating the Zacks Consensus Estimate of $2.99 per share. This compares to earnings of $3.36 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +7.02%. A quarter ago, it was expected that this homebuilder would post earnings of $2.15 per share when it actually produced earnings of $2.24, delivering a surprise of +4.19%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
D.R. Horton, which belongs to the Zacks Building Products - Home Builders industry, posted revenues of $9.23 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.46%. This compares to year-ago revenues of $9.23 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
D.R. Horton shares have added about 0.5% since the beginning of the year versus the S&P 500's gain of 8.7%.
What's Next for D.R. Horton?While D.R. Horton 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 D.R. Horton 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 $3.38 on $10.2 billion in revenues for the coming quarter and $10.60 on $33.85 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products - Home Builders is currently in the bottom 20% 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, Beazer Homes (BZH - Free Report) , is yet to report results for the quarter ended June 2026.
This homebuilder is expected to post quarterly loss of $0.34 per share in its upcoming report, which represents a year-over-year change of -230.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Beazer Homes' revenues are expected to be $510.43 million, down 6.4% from the year-ago quarter.
Synchrony (SYF - Free Report) came out with quarterly earnings of $2.59 per share, beating the Zacks Consensus Estimate of $2.08 per share. This compares to earnings of $2.5 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +24.52%. A quarter ago, it was expected that this consumer credit company would post earnings of $2.27 per share when it actually produced earnings of $2.27, delivering no surprise.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Synchrony, which belongs to the Zacks Financial - Miscellaneous Services industry, posted revenues of $4.61 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 1.14%. This compares to year-ago revenues of $4.52 billion. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Synchrony shares have lost about 12% since the beginning of the year versus the S&P 500's gain of 8.7%.
What's Next for Synchrony?While Synchrony 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 Synchrony 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 $2.56 on $4.87 billion in revenues for the coming quarter and $9.34 on $19.12 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, Financial - Miscellaneous Services is currently in the bottom 25% 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.
Virtu Financial (VIRT - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on July 30.
This high-speed trading company is expected to post quarterly earnings of $1.67 per share in its upcoming report, which represents a year-over-year change of +9.2%. The consensus EPS estimate for the quarter has been revised 9.6% higher over the last 30 days to the current level.
Virtu Financial's revenues are expected to be $639.48 million, up 12.6% from the year-ago quarter.
Andra AP fonden reduced its stake in Western Digital Corporation (NASDAQ:WDC – Free Report) by 68.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 81,737 shares of the data storage provider’s stock after selling 178,663 shares during the quarter. Andra AP fonden’s holdings in Western Digital were worth $22,109,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Wilkerson Advisory Group LLC grew its stake in shares of Western Digital by 114.7% in the first quarter. Wilkerson Advisory Group LLC now owns 249 shares of the data storage provider’s stock valued at $67,000 after buying an additional 133 shares in the last quarter. MWA Asset Management acquired a new position in Western Digital during the 1st quarter worth about $101,000. Convergence Investment Partners LLC purchased a new position in Western Digital during the 1st quarter valued at about $5,457,000. Legacy Wealth Managment LLC ID grew its position in Western Digital by 105,371.4% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 7,383 shares of the data storage provider’s stock valued at $1,997,000 after acquiring an additional 7,376 shares in the last quarter. Finally, Florida Financial Advisors LLC grew its position in Western Digital by 26.4% in the 1st quarter. Florida Financial Advisors LLC now owns 12,455 shares of the data storage provider’s stock valued at $3,369,000 after acquiring an additional 2,602 shares in the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.
More Western Digital News Here are the key news stories impacting Western Digital this week:
Positive Sentiment: Western Digital is benefiting from a rebound in memory stocks as investors step back in after last week’s selloff, improving sentiment across the semiconductor group. Micron Jumps 5%, SanDisk Rises 6%, Western Digital Climbs 4% as Memory Stocks Rebound With Chips Positive Sentiment: Morgan Stanley’s view that the memory-stock selloff created a strong entry point is encouraging dip-buying in Western Digital and other chip names. The Memory Stock Sell-Off Created a ‘Strong Entry Point,’ Says Morgan Stanley. Investors Are Buying In. Neutral Sentiment: Western Digital Malaysia was recognized for advancing sustainable AI infrastructure, which supports the company’s AI narrative but is unlikely to be the main stock-moving catalyst today. WD Malaysia Recognized for Advancing Sustainable AI Infrastructure Western Digital Trading Up 2.1% Western Digital stock opened at $487.42 on Tuesday. The stock has a market cap of $168.00 billion, a P/E ratio of 29.10 and a beta of 2.11. The company has a fifty day simple moving average of $560.32 and a 200-day simple moving average of $388.23. Western Digital Corporation has a 12-month low of $66.04 and a 12-month high of $799.87.
Western Digital (NASDAQ:WDC – Get Free Report) last posted its earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, beating the consensus estimate of $2.39 by $0.33. The firm had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.Western Digital’s revenue for the quarter was up 45.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, sell-side analysts forecast that Western Digital Corporation will post 9.61 earnings per share for the current fiscal year.
Western Digital Increases Dividend The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were given a dividend of $0.15 per share. This is a boost from Western Digital’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Western Digital’s dividend payout ratio is 3.58%.
Insiders Place Their Bets In other Western Digital news, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the sale, the chief executive officer owned 598,150 shares of the company’s stock, valued at approximately $246,342,096. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $528.52, for a total transaction of $396,390.00. Following the sale, the director owned 3,903 shares of the company’s stock, valued at $2,062,813.56. This represents a 16.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,959 shares of company stock worth $12,631,666 in the last three months. 0.18% of the stock is owned by company insiders.
Analyst Ratings Changes WDC has been the topic of several research reports. Wells Fargo & Company increased their price target on shares of Western Digital from $575.00 to $730.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. UBS Group reissued a “neutral” rating and issued a $560.00 price target on shares of Western Digital in a research report on Monday, July 13th. Weiss Ratings raised Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, July 13th. Morgan Stanley increased their price objective on Western Digital from $488.00 to $650.00 and gave the company an “overweight” rating in a research note on Monday, June 15th. Finally, Susquehanna lifted their target price on Western Digital from $360.00 to $500.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Western Digital presently has an average rating of “Moderate Buy” and an average target price of $520.32.
View Our Latest Stock Report on WDC
Western Digital Profile (Free Report)
Western Digital Corporation is a global data storage company that designs, manufactures and sells a broad range of storage devices and systems for personal, enterprise and cloud applications. Headquartered in San Jose, California, the company develops hard disk drives (HDDs), solid-state drives (SSDs), NAND flash components and finished storage products used in PCs, external storage, servers, network-attached storage (NAS) and embedded systems.
Its product portfolio spans consumer and commercial markets, including internal and external HDDs and SSDs, removable flash memory products and storage platforms for data center and enterprise environments.
See Also Five stocks we like better than Western Digital The Ugliest Stocks in the Market Just Got a Very Expensive Vote of Confidence Is Domino’s Stock Serving Up a Buying Opportunity? A $1T Black Hole: SpaceX Eyes Pentagon AI to Break Free Why Gold Miners Could Be the Market’s Biggest Comeback Story
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Bessemer Group Inc. boosted its stake in shares of Western Digital Corporation (NASDAQ:WDC – Free Report) by 23.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,465 shares of the data storage provider’s stock after purchasing an additional 2,896 shares during the period. Bessemer Group Inc.’s holdings in Western Digital were worth $4,184,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of WDC. Norges Bank bought a new position in shares of Western Digital in the fourth quarter worth about $788,729,000. Northern Trust Corp grew its stake in shares of Western Digital by 11.2% during the 3rd quarter. Northern Trust Corp now owns 3,805,463 shares of the data storage provider’s stock valued at $456,884,000 after acquiring an additional 384,103 shares during the period. Soroban Capital Partners LP increased its holdings in Western Digital by 1,926.3% in the 2nd quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock worth $195,882,000 after acquiring an additional 2,910,062 shares in the last quarter. AQR Capital Management LLC increased its holdings in Western Digital by 70.4% in the 4th quarter. AQR Capital Management LLC now owns 2,972,703 shares of the data storage provider’s stock worth $512,107,000 after acquiring an additional 1,228,661 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Western Digital by 6.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,809,409 shares of the data storage provider’s stock worth $483,977,000 after acquiring an additional 159,167 shares during the period. 92.51% of the stock is currently owned by hedge funds and other institutional investors.
Key Headlines Impacting Western Digital Here are the key news stories impacting Western Digital this week:
Positive Sentiment: Western Digital is benefiting from a rebound in memory stocks as investors step back in after last week’s selloff, improving sentiment across the semiconductor group. Micron Jumps 5%, SanDisk Rises 6%, Western Digital Climbs 4% as Memory Stocks Rebound With Chips Positive Sentiment: Morgan Stanley’s view that the memory-stock selloff created a strong entry point is encouraging dip-buying in Western Digital and other chip names. The Memory Stock Sell-Off Created a ‘Strong Entry Point,’ Says Morgan Stanley. Investors Are Buying In. Neutral Sentiment: Western Digital Malaysia was recognized for advancing sustainable AI infrastructure, which supports the company’s AI narrative but is unlikely to be the main stock-moving catalyst today. WD Malaysia Recognized for Advancing Sustainable AI Infrastructure Insider Activity at Western Digital In related news, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $411.84, for a total value of $8,236,800.00. Following the sale, the chief executive officer directly owned 598,150 shares in the company, valued at approximately $246,342,096. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $528.52, for a total value of $396,390.00. Following the transaction, the director owned 3,903 shares of the company’s stock, valued at $2,062,813.56. This represents a 16.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 28,959 shares of company stock worth $12,631,666 over the last 90 days. Company insiders own 0.18% of the company’s stock.
Analyst Upgrades and Downgrades Several brokerages have weighed in on WDC. JPMorgan Chase & Co. lifted their price target on shares of Western Digital from $530.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Fox Advisors cut shares of Western Digital from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. Rosenblatt Securities upped their target price on shares of Western Digital from $340.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Susquehanna increased their price target on Western Digital from $360.00 to $500.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Finally, Melius Research set a $1,050.00 price target on Western Digital and gave the stock a “buy” rating in a research note on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $520.32.
View Our Latest Stock Report on Western Digital
Western Digital Price Performance Western Digital stock opened at $487.42 on Tuesday. The stock has a market cap of $168.00 billion, a P/E ratio of 29.10 and a beta of 2.11. Western Digital Corporation has a 1 year low of $66.04 and a 1 year high of $799.87. The firm’s 50 day moving average price is $560.32 and its 200-day moving average price is $388.23.
Western Digital (NASDAQ:WDC – Get Free Report) last released its earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, topping the consensus estimate of $2.39 by $0.33. The firm had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.25 billion. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The company’s quarterly revenue was up 45.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, equities analysts expect that Western Digital Corporation will post 9.61 EPS for the current year.
Western Digital Increases Dividend The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date was Friday, June 5th. This is an increase from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s dividend payout ratio is presently 3.58%.
Western Digital Profile (Free Report)
Western Digital Corporation is a global data storage company that designs, manufactures and sells a broad range of storage devices and systems for personal, enterprise and cloud applications. Headquartered in San Jose, California, the company develops hard disk drives (HDDs), solid-state drives (SSDs), NAND flash components and finished storage products used in PCs, external storage, servers, network-attached storage (NAS) and embedded systems.
Its product portfolio spans consumer and commercial markets, including internal and external HDDs and SSDs, removable flash memory products and storage platforms for data center and enterprise environments.
Recommended Stories Five stocks we like better than Western Digital The Ugliest Stocks in the Market Just Got a Very Expensive Vote of Confidence Is Domino’s Stock Serving Up a Buying Opportunity? A $1T Black Hole: SpaceX Eyes Pentagon AI to Break Free Why Gold Miners Could Be the Market’s Biggest Comeback Story Want to see what other hedge funds are holding WDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Digital Corporation (NASDAQ:WDC – Free Report).
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Nasdaq Private Market koupila NFS, sekundární fondový byznys Nasdaq, a rozšířila tak platformu pro sekundární likviditu o podíly ve fondech i přímé akcie společností.
NEW YORK, July 21, 2026 (GLOBE NEWSWIRE) -- Nasdaq Private Market (NPM), a leading provider of liquidity, capital and investment solutions for private companies and their investors, today announced it has acquired NFS, Nasdaq, Inc.’s fund secondaries business. NPM is an independent company that spun out of Nasdaq in 2021. The acquisition expands NPM's secondary liquidity platform to encompass both direct company shares and multi-asset fund stakes - giving NPM the capabilities and scale to serve the full spectrum of private secondary liquidity demand from a single platform.
“Liquidity is the defining challenge of today’s private markets, and secondaries have become the primary release valve for investors and managers alike,” said Tom Callahan, Chief Executive Officer of Nasdaq Private Market. “By bringing fund secondaries onto our platform, we become one of the few platforms where investors can execute liquidity transactions across both direct shares and fund stakes. This is a natural extension of everything we’ve built, and it positions NPM to grow alongside one of the most dynamic markets in finance.”
The private secondaries market has reached record scale: global secondary volume grew an estimated 53% in 2025 to roughly $233 billion, split almost evenly between LP-led and GP-led activity1. These transactions give investors and managers a way to unlock liquidity from otherwise long-dated, illiquid fund commitments — with limited partners selling existing fund stakes to rebalance portfolios (LP-led), and fund managers using continuation vehicles and other structured solutions to return capital to investors while retaining their highest-conviction assets (GP-led). Once a niche, GP-led activity has grown from less than 20% of the market a decade ago to nearly half today2.
In addition to opening access to the full addressable market for fund secondaries, the acquisition also creates meaningful opportunity to capture synergies and scale shared processes, technology, and distribution across both businesses.
"Nasdaq Fund Secondaries provides industry-leading liquidity solutions for GPs and LPs in the private markets and we believe it will be best positioned to realize its full potential within NPM, where it can benefit from greater focus, continued investment and the strengths of a dedicated private markets platform,” said Nelson Griggs, President of Nasdaq, “Nasdaq remains a committed shareholder of Nasdaq Private Market, and we look forward to continuing our partnership with them to realize the long-term opportunity across private markets."
The transaction is expected to close in the third quarter of 2026, subject to customary closing conditions, including requisite regulatory approvals. Terms of the deal have not been disclosed.
About Nasdaq Private Market
Nasdaq Private Market LLC is a leading provider of liquidity, capital, and investment solutions for private companies and their investors, including individuals, fund managers and institutional LPs. The company is focused on building modern infrastructure for the private market ecosystem and has executed nearly $80 billion in secondary liquidity for 200,000+ individual eligible employee shareholders and investors across 1,000+ company-sponsored liquidity programs. Nasdaq Private Market is an independent company with strategic investments from Nasdaq and other institutional partners. Learn more at www.nasdaqprivatemarket.com.
About Nasdaq
Nasdaq, Inc. (Nasdaq: NDAQ) is a leading technology platform that powers the world’s economies. We architect the infrastructure of the world’s most modern markets, power the innovation economy, and build trust in the financial system. We empower economic opportunity by designing and deploying advanced technology, data, and intelligence solutions that enable our clients to capture opportunities, navigate risk, and strengthen resilience. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.
This communication contains forward-looking information related to Nasdaq and the proposed sale of Nasdaq Fund Secondaries by Nasdaq to NPM that involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. When used in this communication, words such as “will”, “enables”, “intends”, “expected”, “enhances”, “can” and similar expressions and any other statements that are not historical facts are intended to identify forward-looking statements. Forward-looking statements in this communication include, among other things, statements about the potential benefits of the proposed transaction, Nasdaq’s plans, objectives, expectations and intentions, the financial condition, results of operations and business of Nasdaq, and the anticipated timing of closing of the proposed transaction. Risks and uncertainties include, among other things, risks related to the ability of Nasdaq to consummate the proposed transaction on a timely basis or at all; the ability to realize the anticipated benefits of the proposed transaction, including the possibility that the expected benefits from the proposed transaction will not be realized or will not be realized within the expected time period; disruption from the transaction making it more difficult to maintain business and operational relationships; risks related to diverting management’s attention from Nasdaq’s ongoing business operations; unknown liabilities; the risk of litigation or regulatory actions related to the proposed transaction; and the effect of the announcement or pendency of the transaction on Nasdaq’s business relationships, operating results, and business generally.
Further information on these and other risks and uncertainties relating to Nasdaq can be found in its reports filed on Forms 10-K, 10-Q and 8-K and in other filings Nasdaq makes with the SEC from time to time and available at www.sec.gov. These documents are also available under the Investor Relations section of Nasdaq’s website at http://ir.nasdaq.com/investor-relations. The forward-looking statements included in this communication are made only as of the date hereof. Nasdaq disclaims any obligation to update these forward-looking statements, except as required by law.
Tesla utratila zatím jen 2,5 miliardy dolarů z plánovaných 25 miliard, což zvyšuje pochybnosti o jejích plánech v AI, autonomním řízení a robotice. Trh čeká, zda středeční výsledky přinesou konkrétní důkazy pokroku.
Před výsledky za druhé čtvrtletí čelí Tesla otázkám ohledně své schopnosti plnit ambiciózní plány v oblasti umělé inteligence, autonomního řízení a robotiky. Společnost v letošním roce utratila jen zlomek plánovaných kapitálových výdajů, což zhoršuje důvěryhodnost růstového příběhu Tesly. V době, kdy technologičtí konkurenti investují do AI stovky miliard dolarů a kdy na trh vstoupila další Muskova firma, bude trh od Tesly chtít slyšet nejen další sliby, ale především vidět konkrétní důkazy o pokroku při jejich plnění.
Po nespočtu slibů Tesly o umělé inteligenci, autonomním řízení a robotice utratil tento výrobce elektromobilů zatím pouze 2,5 miliardy dolarů z celkových 25 miliard dolarů, které předpovídal v dubnu v rámci kapitálových výdajů za rok 2026. Toto pomalé tempo vyvolává otázky, zda Tesla utrácí dost na to, aby dosáhla pokroku, který si vytyčila.
„Je to kapitálově náročné odvětví,“ řekl Jay Van Sciver, partner a výkonný ředitel společnosti Hedgeye Risk Management. „Neexistuje způsob, jak se skutečně dostat z bodu A do bodu B s menšími výdaji.“
Opačná mechanika
Tesla se tak staví na zcela jinou trajektorii než většinu ostatních technologických gigantů, jejichž akcie jsou naopak trestány za příliš rozmařilé výdaje na umělou inteligenci. Čtyři konkurenti Tesly z velké sedmičky – Alphabet, Amazon.com, Meta Platforms a Microsoft – předpovídají v roce 2026 kombinované kapitálové výdaje ve výši 725 miliard dolarů. Pro srovnání, roční prognóza kapitálových výdajů Tesly ve výši 25 miliard dolarů vypadá sice konzervativně, přesto její akcie v roce 2026 klesly o 18 %, což je nejhorší výkon v celé skupině.
Akciím Tesly by proto naopak navýšení kapitálových výdajů ve středeční zprávě o hospodaření pravděpodobně pomohlo, protože by to signalizovalo, že se vývoj produktů ubírá správným směrem. „U růstových akcií jsou kapitálové výdaje nejlepším ukazatelem budoucího růstu,“ podotkl analytik HSBC Mike Tyndall, který má u této akcie doporučení prodat. „Pokud peníze neutrácíte, pak nedosáhnete růstu.“
Kapitálové výdaje jsou pro společnosti jako Tesla „kontrolou důvěryhodnosti“, protože prodávají dlouhodobé vize, tvrdí Haris Khurshid, investiční ředitel společnosti Karobaar Capital, která vlastní akcie Tesly prostřednictvím derivátů. Realita je však taková, že Muskova historie je plná zmeškaných termínů a zrušených projektů. Investoři to vědí, a proto chtějí začít vidět známky hmatatelného pokroku.
„Méně se zaměřuji na jedno číslo, ale spíše na to, zda je celkový příběh vnitřně konzistentnější,“ řekl Khurshid. „Ukazují kapitálové výdaje, komentáře managementu a časové harmonogramy stejným směrem? To je to, co odděluje přesvědčivou vizi od přesvědčivé investice.“
Drahá Tesla
Na druhou stranu produkty, které Tesla vyvíjí, se zásadně liší od toho, co dělají ostatní velké technologické firmy – tj. především rozšiřují kapacitu cloudových výpočtů a budují AI služby. Tesla se zaměřuje na fyzickou stránku umělé inteligence a prezentuje budoucnost samořídících aut a robotických komorníků.
Tesla je přitom oceňována, jako by tu už tato budoucnost byla. S přibližně 163násobkem zisku za příštích 12 měsíců je to druhá nejdražší společnost v indexu S&P 500 a zdaleka nejdražší člen velké sedmičky, přičemž nejblíže je jí Apple s přibližně 34násobkem budoucího zisku. Celý index S&P 500 se obchoduje s přibližně 20násobkem zisku.
Očekává se, že Tesla ve druhém čtvrtletí vykáže čistý zisk ve výši 1,2 miliardy dolarů, což je o 2,7 % více než před rokem, a tržby ve výši 26 miliard dolarů, což je o 17 % více než ve stejném období předchozího roku. Celkové prostředí pro elektromobily ale zůstává pochmurné. Přestože společnost ve druhém čtvrtletí zaznamenala prudký nárůst dodávek vozidel, investoři po této zprávě vybírali zisky, což 2. července způsobilo pokles akcií o 7,5 % a šlo tak o nejhorší den v roce.
„Myslím, že tu je nyní mnohem méně důvodů věřit v Teslu než kdykoli předtím,“ řekl David Trainer, generální ředitel technologické výzkumné firmy New Constructs. „Její hlavní podnikání konkuruje v extrémně kapitálově náročné oblasti superspolečnostem, které již byly ziskové a jsou ochotny zisk nevykazovat.“
Faktor SpaceX
Tlak na Teslu, aby dodržela své sliby, se od vstupu Muskovy druhé společnosti SpaceX minulý měsíc na burzu výrazně zvýšil. Pokud zisky Tesly nesplní vysoká očekávání, budou ambice SpaceX kolonizovat Mars a provozovat orbitální datová centra pro Muskovy fanoušky pravděpodobně zajímavější. SpaceX by měl své výsledky zveřejnit 4. srpna.
Přitom se již šíří spekulace o fúzi mezi oběma společnostmi – od Muskova společného vlastnictví, přes podíl Tesly v nyní SpaceX vlastněné společnosti xAI, až po společný podnik Terafab na výrobu čipů. SpaceX má velké ambice v oblasti umělé inteligence a pilně získává hotovost po svém přelomovém IPO v hodnotě 75 miliard dolarů a následném prodeji dluhopisů za 25 miliard dolarů.
Schopnost Tesly provozovat roboty a robotická taxislužby by proto mohla rozhodnout o tom, zda si v budoucnu zachová nezávislost. Veřejně obchodovaná SpaceX „nutí Teslu ke kratším časovým harmonogramům se skutečnými výsledky,“ řekl Max Gokhman ze společnosti Franklin Templeton Investment Solutions. „Nemyslím si, že investoři budou trpěliví s nedodrženými termíny nebo prázdnými sliby, jako tomu bylo předtím, než existoval jasný způsob, jak si zahrát s Elonem Mars.“
Enphase Energy v Evropě umožní majitelům starších baterií IQ Battery 3T a 10T přidat zálohování i rozšířit kapacitu bez výměny stávajících baterií. Funkce je dostupná v 13 zemích a aktivuje se softwarovou aktualizací.
FREMONT, Calif., July 21, 2026 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company, today announced a new upgrade for European homeowners with existing second-generation Enphase IQ® Battery 3T™ and IQ® Battery 10T™ systems. Customers can now add home backup and expand their storage capacity with the latest Enphase products while continuing to use the batteries they already own.
The new capability protects the homeowner’s original investment while allowing the energy system to evolve as household needs grow. Customers can add more storage as they adopt electric vehicles, heat pumps, and other electric appliances, while also gaining backup power during grid outages.
The second-generation batteries currently operate in grid-tied mode, storing solar energy for use when the grid is available, but they do not provide backup power during an outage. The new capability changes that. When the grid goes down, the IQ® System Controller safely disconnects the home from the grid, allowing the solar and battery system to continue powering the home.
The capability is available in Germany, the Netherlands, France, Belgium, Sweden, Switzerland, Luxembourg, Austria, Spain, Denmark, Portugal, Greece, and Finland. Homeowners have two flexible upgrade paths that can be configured by an Enphase-certified installer through the Enphase® Installer App:
Add backup to an existing system. Homeowners with second-generation IQ® Batteries can add an IQ System Controller to keep loads powered during grid outages. Single-phase homes can gain whole-home backup, while three-phase homes can back up a designated phase, with the homeowner and installer determining which essential circuits remain powered.Expand storage – with or without backup. Homeowners can add third-generation IQ® Battery 5P™ units alongside their existing batteries to increase storage capacity, whether the system remains grid-tied or is upgraded with backup. In three-phase homes, IQ Battery 5P with FlexPhase™ technology can enable backup across all three phases when paired with an IQ System Controller. Existing batteries continue operating as part of the expanded system. "Our customers' needs keep growing as they add heat pumps and electric cars," said Theo Schmalbruch, CEO of Theo Tec GmbH, an installer of Enphase products in Germany. "Now we can expand the storage they already have and add backup on top, all without replacing the batteries they previously installed."
"French families want real energy independence, and backup power is what makes it tangible," said Lionel Bertholet, co-CEO and technical director at REPV, an installer of Enphase products in France. "Keeping the lights on during an outage, using an existing system that has run for years, is exactly what our customers are asking for."
“When customers choose Enphase, they are investing in more than an individual product – they are investing in a home energy platform designed to improve and expand over time,” said Sabbas Daniel, senior vice president of sales at Enphase Energy. “Our customers can now combine batteries from different generations, add backup, and expand capacity without abandoning their original investment. That is what a truly future-ready energy system should deliver.”
The new capability is enabled through a software update to the IQ® Gateway, including the gateway embedded in the IQ System Controller, and is designed to work with most existing Enphase IQ Battery installations in Europe. All installed batteries remain covered under existing Enphase warranties.
Homeowners interested in adding backup or expanding their systems can contact an Enphase-certified installer. Installers can find training and system-configuration guidance at Enphase University and in the Enphase Installer App. For more information, visit the Enphase regional websites for Germany, the Netherlands, and France, with additional countries to follow shortly.
About Enphase Energy, Inc.
Enphase Energy, a global energy technology company based in Fremont, CA, is the world's leading supplier of microinverter-based solar and battery systems, EV chargers, home energy management systems, and virtual power plant (VPP) solutions. Enphase products enable people to harness the sun to make, use, save, and sell their own power, all controlled through the Enphase App. The company revolutionized the solar industry with its microinverter-based technology and has shipped approximately 87.8 million microinverters, with more than 5.2 million Enphase-based systems deployed in over 165 countries. For more information, visit https://enphase.com/.
This press release contains forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy's IQ Battery systems, IQ System Controller, IQ Gateway, and related products and technology, including backup functionality, system expansion, compatibility, safety, quality, and reliability; the ability of homeowners with existing IQ Battery 3T and IQ Battery 10T systems to add backup capabilities and increase energy storage capacity while continuing to use previously installed batteries; the expected benefits of adding an IQ System Controller and IQ Battery 5P systems, including whole-home backup, backup of designated loads, and expanded storage capacity; and the ability of installers and homeowners to upgrade existing systems through software updates and additional hardware. These forward-looking statements are based on Enphase Energy's current expectations and assumptions and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties. Such risks include, but are not limited to, customer and installer adoption of backup and storage expansion solutions; product performance and reliability under actual operating conditions; compatibility of existing and future hardware, software, and system configurations; the successful deployment and operation of software updates; changes in regulatory, grid interconnection, certification, or compliance requirements; market demand for residential energy storage and backup power solutions; and other factors discussed in Enphase Energy's filings with the Securities and Exchange Commission, including those risks described in more detail in Enphase Energy's most recently filed Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and other filings made from time to time with the Securities and Exchange Commission. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, or changes in its expectations, except as required by law or otherwise.
Northrop Grumman upravil výhled tržeb na fiskální rok 2026 na 43,75 až 44,25 miliardy USD a zisk na akcii na 28,60 až 29,10 USD díky silné poptávce po zbraních.
Signage is displayed at the Northrop Grumman Corporation booth at Special Operations Forces (SOF) Week for defense companies in Tampa, Florida, U.S., May 7, 2024. REUTERS/Luke Sharrett Purchase Licensing Rights, opens new tab
July 21 (Reuters) - Defense supplier Northrop Grumman (NOC.N), opens new tab on Tuesday lifted its 2026 sales and adjusted profit forecast, supported by sustained demand for weapons amid a wave of geopolitical conflicts.
Shares were down 4% in early trading in New York as the company said two of its four business segments did not perform well during the quarter.
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U.S. President Donald Trump has been pressing defense companies to expand manufacturing capacity and boost weapons production as the wars in Ukraine and the Middle East drain the country's stockpiles.
The U.S. has expended more than 50,000 rockets, missiles and other rocket-propelled projectiles since the beginning of the Russia-Ukraine conflict in 2022 through the war with Iran, according to data from the Pentagon.
Trump has also proposed a record $1.5 trillion military budget for fiscal year 2027, far exceeding the $901 billion approved for 2026.
Revenue in Northrop's defense systems business rose 5%, helped by strong sales in its Sentinel program, the land-based leg of the U.S. nuclear triad.
However, operating income in the defense business fell 38% as the company spends more to develop and qualify its air-to-surface missile, Stand-in Attack Weapon and mature production for the long-range version of the Advanced Anti-Radiation Guided Missile.
"Given the market’s tendency to punish execution challenges, we could see pressure on the stock, though we do not believe expectations for the quarter were very high," said Seth Seifman, analyst at JP Morgan.
Northrop's largest revenue segment, Aeronautics, posted a 13% increase in second-quarter sales compared with a year earlier, driven by strong performance in the B-21 Raider program and other classified programs.
The B-21 Raider, a nuclear-capable long-range strike aircraft, received a major production boost in February, when Northrop signed an Air Force agreement, opens new tab expanding production capacity by 25%, with the first delivery set for 2027.
Northrop lifted its 2026 revenue forecast by $250 million to a range of $43.75 billion to $44.25 billion, roughly in line with Wall Street estimates, according to data compiled by LSEG.
Excluding items, the company now expects 2026 profit between $28.60 and $29.10 per share, compared to a prior range of $27.40 to $27.90 apiece.
The Falls Church, Virginia-based company reported total sales of $10.88 billion for the quarter ended June 30, compared to analysts' expectations of $10.81 billion. Its total backlog rose 9% to $104.7 billion during the period - a record.
Its per-share quarterly profit stood at $7.68, compared with $8.15 a year earlier, with the latter including a $1.04 benefit from the divestiture of Northrop's training services business. Analysts on average expected $6.82 per share.
The beat in quarterly profit was primarily due to a lower tax rate, according to analysts at JP Morgan and TD Cowen.
Reporting by Aishwarya Jain in Bengaluru; Editing by Jonathan Ananda and Nick Zieminski
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Mike Stone is a Reuters reporter covering the U.S. arms trade and defense industry. Most recently Mike has been focused on the Golden Dome missile defense shield. Mike also spends a lot of his time writing on Ukraine and how industry has adapted, or faltered as it supports that conflict. Mike, a New Yorker, has extensively covered how the U.S. has supplied Ukraine with weapons, the cadence, decisions and milestones that have had battlefield impacts. Before his time in Washington Mike’s coverage focused on mergers and acquisitions for oil and gas companies, financial institutions, defense companies, consumer product makers, retailers, real estate giants, and telecommunications companies.
Kratos získal od NNSA kontrakt za zhruba 156 milionů USD na mobilní platformy C-UAS pro Project Solar Shield. Systémy mají chránit přepravu jaderných zbraní a materiálů před drony.
Kratos to provide Mobile Counter-Unmanned Aircraft System (C-UAS) Platforms Designed to Support Critical National Security Mission July 21, 2026 08:00 ET | Source: Kratos Defense & Security Solutions, Inc.
SAN DIEGO, July 21, 2026 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a technology company in the defense, national security and global markets, today announced it has been awarded a sole-source, single award Indefinite Delivery/Indefinite Quantity (IDIQ) contract for approximately $156 million, by the U.S. Department of Energy's National Nuclear Security Administration (NNSA) Office of Secure Transportation (OST), in support of Project Solar Shield.
Under this new contract award, Kratos will provide mobile Counter-Unmanned Aircraft System (C-UAS) platforms designed to support OST's critical National Security mission. The Office of Secure Transportation is responsible for the safe and secure ground and air transportation of nuclear weapons, weapon components, and special nuclear materials, as well as other missions supporting U.S. national security.
To address emerging threats to these operations, OST requires a mission-ready mobile platform capable of detecting, tracking, identifying, and responding to potentially hostile unmanned aircraft systems in real time. Unlike traditional fixed-site defense infrastructure, Project Solar Shield is designed to provide a dynamic mobile C-UAS capability that can support mission requirements wherever OST operations occur. The program will leverage commercial and government best-in-class C-UAS technologies, to provide a layered defense posture supporting OST personnel and mission requirements.
Kratos was selected following a rigorous technical evaluation and was identified as the provider capable of meeting OST's technical, cost, schedule, operational, safety, redundancy, integration, and long-term sustainment requirements. Kratos’ engineer-to-order approach combines C-UAS system, mobile platform design, command-and-control, and advanced power management technologies into a fully integrated solution, built for demanding threat and mission environments.
“Project Solar Shield represents a significant milestone for Kratos and the broader government C-UAS market,” said Dave Carter, President of Kratos’ Defense & Rocket Support Services Division. “As the first large scale government production contract of its kind built around this integrated approach, the program demonstrates the value of combining C-UAS, mobile platform design, command-and-control capabilities, and resilient power management into a single mission-ready solution. The resulting platform provides OST with a highly modular and scalable mobile C-UAS capability, designed to support evolving mission requirements across the continental United States.”
Eric DeMarco, President and CEO of Kratos, said, “We believe that Kratos’ technology, system and integration capabilities in the C-UAS mission area are industry leading, and also our ability to mass produce large quantities of relevant systems at an affordable cost. Our entire organization is proud to have received this program award to protect and secure critical United States assets and infrastructure.”
Work under this new program award will be performed at secure Kratos facilities. Due to security-related and other considerations, no additional information will be provided related to this contract award. Work under the contract is expected to begin immediately.
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a technology, products, system and software company addressing the defense, national security, and commercial markets. Kratos makes true internally funded research, development, capital and other investments, to rapidly develop, produce and field solutions that address our customers’ mission critical needs and requirements. At Kratos, affordability is a technology, and we seek to utilize proven, leading-edge approaches and technology, not unproven bleeding edge approaches or technology, with Kratos’ approach designed to reduce cost, schedule and risk, enabling us to be first to market with cost effective solutions. We believe that Kratos is known as an innovative disruptive change agent in the industry, a company that is an expert in designing products and systems up front for successful rapid, large quantity, low-cost future manufacturing which is a value-add competitive differentiator for our large traditional prime system integrator partners and also to our government and commercial customers. Kratos intends to pursue program and contract opportunities as the prime or lead contractor when we believe that our probability of win (PWin) is high and any investment required by Kratos is within our capital resource comfort level. We intend to partner and team with a large, traditional system integrator when our assessment of PWin is greater or required investment is beyond Kratos’ comfort level. Kratos’ primary business areas include virtualized ground systems for satellites and space vehicles including software for command & control (C2) and telemetry, tracking and control (TT&C), jet powered unmanned aerial drone systems, hypersonic vehicles and rocket systems, propulsion systems for drones, missiles, loitering munitions, supersonic systems, space craft and launch systems, C5ISR and microwave electronic products for missile, radar, missile defense, space, satellite, counter UAS, directed energy, communication and other systems, and virtual & augmented reality training systems for the warfighter. For more information, visit www.KratosDefense.com and follow Kratos on LinkedIn and X.
Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 28, 2025, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.
Woodward otevřel rozšířený závod v Glattenu, který zvýší kapacitu výroby vysokorychlostních systémů vstřikování paliva o 50 %. Zařízení slouží pro energetiku, námořní dopravu a ropný a plynárenský průmysl.
GLATTEN, Germany and FORT COLLINS, Colo., July 21, 2026 (GLOBE NEWSWIRE) -- Woodward (NASDAQ: WWD), a global leader in energy controls for aerospace and industrial applications, officially inaugurated its expanded manufacturing facility in Glatten, Germany, this week. The event marks the completion of a strategic investment that increases production capacity by 50 percent for high-speed fuel injection systems, which are used in power generation, marine transportation, and oil & gas applications.
The approximately 3,000-square-meter expansion advances Woodward’s broader strategy to invest in manufacturing capabilities supporting long-term growth. The site integrates advanced automation, digital manufacturing technologies, and Lean manufacturing practices that strengthen productivity, flexibility, and competitiveness.
The inauguration brought together employees, customers, community leaders, and government representatives, including Dr. Nicole Hoffmeister-Kraut, Baden-Württemberg’s Minister for Economic Affairs, Skilled Crafts and Tourism, underscoring the facility’s role in regional manufacturing, skilled employment, and long-term economic development. Also offering their congratulations were Katrin Schindele, MdL Landtag Baden-Württemberg, Prof. Dr. Erik Schweickert (former Member of the State Parliament) and Tore-Derek Pfeifer, Mayor of Glatten.
“The expansion of our Glatten factory demonstrates Woodward’s commitment to operational excellence as we deliver on market growth,” said Steffen Doelker, Vice President and General Manager of Woodward’s Diesel Fuel Systems Business Unit. “We are incorporating industry-leading manufacturing technologies and practices here that will enable us to improve productivity and deliver on our customers’ evolving needs. I’m very proud of what the team has done here.”
About Woodward
Woodward is the global leader in the design, manufacture, and service of energy conversion and control solutions for the aerospace and industrial equipment markets. Our purpose is to design and deliver energy control solutions our partners count on to power a clean future. Our innovative fluid, combustion, electrical, propulsion, and motion control systems perform in some of the world’s harshest environments. Woodward is a global company headquartered in Fort Collins, Colorado, USA. Visit our website at www.woodward.com.
Media Contact:
Jennifer Regina
Woodward Communications
+1970 559 8840 [email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c3331c93-5128-44fd-a70c-2de61eef2fe4
Woodward Inaugurates Expanded Production for High-Speed Fuel Injection Systems in Glatten, Germany Woodward's Expanded Production for High-Speed Fuel Injection Systems will serve OEM customer demand.
California Public Employees Retirement System ve 1. čtvrtletí snížil podíl v Xylem o 3,0 % na 431 886 akcií. Xylem zároveň oznámil čtvrtletní zisk na akcii 1,12 EPS a tržby 2,12 miliardy USD.
California Public Employees Retirement System trimmed its position in Xylem Inc. (NYSE:XYL – Free Report) by 3.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 431,886 shares of the industrial products company’s stock after selling 13,176 shares during the period. California Public Employees Retirement System owned approximately 0.18% of Xylem worth $51,610,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. J. Stern & Co. LLP boosted its holdings in Xylem by 12,326.6% during the fourth quarter. J. Stern & Co. LLP now owns 45,448,168 shares of the industrial products company’s stock worth $6,189,132,000 after buying an additional 45,082,435 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Xylem by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 30,054,743 shares of the industrial products company’s stock valued at $4,092,855,000 after buying an additional 152,507 shares in the last quarter. State Street Corp increased its holdings in shares of Xylem by 2.6% in the fourth quarter. State Street Corp now owns 11,233,427 shares of the industrial products company’s stock valued at $1,529,768,000 after buying an additional 280,221 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Xylem by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 6,357,278 shares of the industrial products company’s stock valued at $862,364,000 after acquiring an additional 151,754 shares during the last quarter. Finally, Swedbank AB lifted its position in shares of Xylem by 0.3% during the 1st quarter. Swedbank AB now owns 5,526,725 shares of the industrial products company’s stock valued at $660,444,000 after acquiring an additional 18,759 shares during the last quarter. 87.96% of the stock is owned by institutional investors.
Xylem Price Performance XYL opened at $120.82 on Tuesday. The firm has a market capitalization of $28.72 billion, a P/E ratio of 30.05, a PEG ratio of 1.75 and a beta of 1.03. The stock has a fifty day moving average of $113.40 and a 200-day moving average of $123.26. The company has a quick ratio of 1.10, a current ratio of 1.46 and a debt-to-equity ratio of 0.13. Xylem Inc. has a 12-month low of $105.29 and a 12-month high of $154.27.
Xylem (NYSE:XYL – Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.03. The business had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.11 billion. Xylem had a return on equity of 11.26% and a net margin of 10.79%.Xylem’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 earnings per share. Xylem has set its FY 2026 guidance at 5.350-5.600 EPS. Equities analysts forecast that Xylem Inc. will post 5.51 EPS for the current fiscal year.
Xylem Dividend Announcement The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, May 28th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Thursday, May 28th. Xylem’s payout ratio is 42.79%.
Insider Transactions at Xylem In other news, CAO Geri-Michelle Mcshane sold 4,269 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $117.46, for a total value of $501,436.74. Following the completion of the sale, the chief accounting officer directly owned 3,605 shares of the company’s stock, valued at $423,443.30. This represents a 54.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jerome A. Peribere purchased 1,210 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were bought at an average price of $116.61 per share, with a total value of $141,098.10. Following the completion of the acquisition, the director owned 27,209 shares of the company’s stock, valued at $3,172,841.49. This trade represents a 4.65% increase in their position. The SEC filing for this purchase provides additional information. 0.32% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In A number of equities analysts recently weighed in on the company. Weiss Ratings lowered Xylem from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. UBS Group boosted their price objective on Xylem from $132.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Oppenheimer reduced their price objective on shares of Xylem from $160.00 to $158.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. Royal Bank Of Canada raised their target price on shares of Xylem from $157.00 to $159.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Stifel Nicolaus dropped their target price on shares of Xylem from $159.00 to $157.00 and set a “buy” rating on the stock in a research report on Monday. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $153.15.
Read Our Latest Stock Analysis on XYL
Xylem Profile (Free Report)
Xylem Inc (NYSE: XYL) is a global water technology company that designs, manufactures and services engineered systems and equipment for the transport, treatment, testing and efficient use of water. Its product portfolio spans pumps and pumping systems, valves, filtration and disinfection equipment, sensors and analytical instruments, and digital solutions for monitoring and control of water infrastructure. Xylem serves the full water cycle with offerings for water and wastewater utilities, industrial customers, commercial and residential buildings, and agricultural applications.
The company was established as an independent publicly traded company in 2011 following a corporate spin-off from ITT Corporation and is headquartered in Rye Brook, New York.
See Also Five stocks we like better than Xylem The Ugliest Stocks in the Market Just Got a Very Expensive Vote of Confidence Is Domino’s Stock Serving Up a Buying Opportunity? A $1T Black Hole: SpaceX Eyes Pentagon AI to Break Free Why Gold Miners Could Be the Market’s Biggest Comeback Story Want to see what other hedge funds are holding XYL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Xylem Inc. (NYSE:XYL – Free Report).
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KeyCorp (KEY - Free Report) came out with quarterly earnings of $0.44 per share, beating the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $0.35 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +4.76%. A quarter ago, it was expected that this company would post earnings of $0.41 per share when it actually produced earnings of $0.44, delivering a surprise of +7.32%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
KeyCorp, which belongs to the Zacks Banks - Major Regional industry, posted revenues of $1.96 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 1.11%. This compares to year-ago revenues of $1.83 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
KeyCorp shares have added about 13% since the beginning of the year versus the S&P 500's gain of 8.7%.
What's Next for KeyCorp?While KeyCorp 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 KeyCorp 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 $0.46 on $2.02 billion in revenues for the coming quarter and $1.82 on $8.04 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, Banks - Major Regional is currently in the top 10% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, BankUnited, Inc. (BKU - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on July 22.
This company is expected to post quarterly earnings of $1.02 per share in its upcoming report, which represents a year-over-year change of +12.1%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
BankUnited, Inc.'s revenues are expected to be $290.57 million, up 6.1% from the year-ago quarter.
Marriott International Chairman David Marriott adds customer-focused operations experience to support execution at scale
Former Equinix CEO Charles Meyers brings digital infrastructure expertise
aligned with AEP's next phase of growth
, /PRNewswire/ -- American Electric Power (Nasdaq: AEP) today announced that David Marriott, Chairman of the Board of Marriott International, and Charles Meyers, Executive Chairman and former President and Chief Executive Officer of Equinix, have been elected to AEP's Board of Directors (the "Board"), effective July 20.
David Marriott brings extensive experience leading large-scale, customer-focused operations for one of the world's most recognized hospitality companies. Meyers brings deep digital infrastructure expertise from his leadership of Equinix, one of the world's leading global digital infrastructure companies. Together, their perspectives will provide valuable insight as AEP invests to meet unprecedented energy demand while maintaining its focus on reliability and affordability.
"Charles and David are proven leaders whose experience aligns directly with AEP's strategy and complements the strong mix of skills already represented on our Board," said Bill Fehrman, AEP Chairman, President and Chief Executive Officer. "David has spent his career leading complex operations at one of the world's most recognized service companies, where consistency, execution and customer trust are critical. Charles has led one of the world's most important digital infrastructure platforms through a period of extraordinary growth, giving him direct insight into the customers and technologies driving this new era of electric demand. We look forward to benefiting from their expertise and leadership as we execute our strategy to meet growing demand, deliver reliable, affordable power for customers and create long-term value for shareholders."
David Marriott is Chairman of the Board of Marriott International, where he has served as a director since 2021 and as Chairman since 2022. Since joining Marriott in 1999, he has held senior operational, sales and leadership roles across the company, including President, U.S. Full Service Managed by Marriott, where he oversaw more than 330 hotels operating under 14 brands across 34 states and French Polynesia. He also served as Chief Operations Officer, The Americas Eastern Region, where he held an integral role in hotel operations and helped oversee the U.S. integration of Marriott's acquisition of Starwood Hotels & Resorts.
"AEP serves millions of customers who depend on the company every day," said David Marriott. "Delivering consistently across a large footprint requires operational discipline, strong teams, trusted relationships and an unwavering commitment to service. I look forward to working with the Board and management team as AEP continues to serve customers and communities across some of the country's most dynamic regions."
Meyers was appointed Executive Chairman of Equinix in June 2024 after serving as President and CEO from 2018 to 2024. As CEO, he further strengthened Equinix's position as a leading global digital infrastructure company, doubling its global data center footprint, strengthening its ecosystem of leading enterprise customers and quadrupling revenues during his tenure. He previously held several senior leadership roles at Equinix, including Chief Operating Officer, President of Strategy, Services and Innovation, and President of the Americas region.
"The digital economy depends on reliable electric infrastructure, and AEP has the footprint, transmission expertise and operating discipline to help meet those needs," said Meyers. "I am excited to join the Board at such an important time for AEP and contribute to the company's work building the critical infrastructure needed for the future."
With these appointments, AEP's Board will comprise 12 directors, 11 of whom are independent.
ABOUT AEP
American Electric Power (Nasdaq: AEP) is committed to improving our customers' lives with reliable, affordable power. We plan to invest $78 billion from 2026 through 2030 to enhance service for customers and support the growing energy needs of our communities. Our nearly 18,000 employees operate and maintain the nation's largest electric transmission system with 40,000 line miles, along with more than 252,000 miles of distribution lines to deliver energy to 5.6 million customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 32,000 megawatts of diverse owned and contracted generating capacity. We are focused on safety and operational excellence, creating value for our stakeholders and bringing opportunity to our service territory through economic development and community engagement. Our family of companies includes AEP Ohio, AEP Texas, Appalachian Power (in Virginia, West Virginia and Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana, east Texas and the Texas Panhandle). AEP also owns AEP Energy, which provides innovative competitive energy solutions nationwide. AEP is headquartered in Columbus, Ohio. For more information, visit aep.com.
Vicor ve 2. čtvrtletí zvýšil tržby na 143,4 mil. USD a čistý zisk na 49,8 mil. USD, tedy 1,04 USD na akcii. Backlog vzrostl mezikvartálně o 26 % na 380 mil. USD.
July 21, 2026 07:00 ET | Source: Vicor Corporation
ANDOVER, Mass., July 21, 2026 (GLOBE NEWSWIRE) -- Vicor Corporation (NASDAQ: VICR) today reported financial results for the second quarter ended June 30, 2026. These results will be discussed at 8:00 a.m. Eastern Time, during management’s quarterly investor conference call. The details for the call are below.
Product and royalty revenues for the second quarter ended June 30, 2026 totaled $143.4 million, a 26.9% sequential increase from $113.0 million in the first quarter of 2026, compared to $141.0 million from product revenues, royalty revenues and a patent litigation settlement of $45.0 million for the corresponding period a year ago.
Gross margin increased sequentially to $83.1 million for the second quarter of 2026, compared to $62.4 million for the first quarter of 2026, and decreased from $92.1 million for the corresponding period a year ago. Gross margin, as a percentage of revenue, increased to 58.0% for the second quarter of 2026, compared to 55.2% for the first quarter of 2026. Gross margin decreased from 65.3% for the corresponding period a year ago which included the aforementioned $45.0 million patent litigation settlement. Operating expenses increased sequentially to $48.2 million for the second quarter of 2026, compared to $45.5 million for the first quarter of 2026, and increased from $46.7 million for the corresponding period a year ago.
Net income for the second quarter was $49.8 million, or $1.04 per diluted share, compared to net income of $20.7 million, or $0.44 per diluted share, for the first quarter of 2026 and net income of $41.2 million or $0.91 per diluted share, for the corresponding period a year ago.
Cash flow from operations totaled $34.0 million for the second quarter, compared to cash flow used for operations of $(3.9) million in the first quarter of 2026, which included the impact of a $28.6 million payment of an award for past litigation, and cash flow from operations of $65.2 million for the corresponding period a year ago. Capital expenditures for the second quarter totaled $11.2 million, compared to $12.4 million for the first quarter of 2026 and $6.2 million for the corresponding period a year ago. Cash and cash equivalents as of June 30, 2026 increased 12.2% sequentially to approximately $453.6 million compared to approximately $404.2 million as of March 31, 2026.
Backlog for the second quarter ended June 30, 2026 totaled $380 million, a 26% sequential increase from $301 million at the end of the first quarter of 2026, and increased 145% from $155 million for the corresponding period a year ago.
Commenting on second quarter performance, Chief Executive Officer Dr. Patrizio Vinciarelli stated: “Rising demand across high-performance compute, automatic test equipment, and industrial, aerospace and defense applications is absorbing increased capacity within our first ChiP fab. As we get closer to full capacity utilization, we are taking steps toward a second fab for high current density 2nd Gen VPD ChiPs.
AI OEMs and Hyper-scalers are at a loss dealing with the current density and PDN limitations of 1st Gen. VPD systems. The industry’s fixation with PoL regulators (replacing VRs, operating from 12V or 6V, with IVRs, operating from 1.8V) merely trades off one handicap (low current density) for another (low current gain). Feeding IVRs with a current multiplier is an incremental opportunity for Vicor.
With its 2nd Gen VPD IP, Vicor is uniquely equipped to overcome the power system challenges standing in the way of future advances in TPUs, GPUs and Wafer Scale Engines.”
For more information on Vicor and its products, please visit the Company’s website at www.vicorpower.com.
Earnings Conference Call
Vicor will be holding its investor conference call today, Tuesday, July 21, 2026 at 8:00 a.m. Eastern Time. Vicor encourages investors and analysts who intend to ask questions via the conference call to register with Notified, the service provider hosting the conference call. Those registering on Notified’s website will receive dial-in info and a unique PIN to join the call as well as an email confirmation with the details. Registration may be completed at any time prior to 8:00 a.m. on July 21, 2026. For those parties interested in listen-only mode, the conference call will be webcast via a link that will be posted on the Investor Relations page of Vicor's website prior to the conference call. Please access the website at least 15 minutes prior to the conference call to register and, if necessary, download and install any required software. For those who cannot participate in the live conference call, a webcast replay of the conference call will also be available on the Investor Relations page of Vicor's website.
This press release contains certain 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. Any statement in this press release that is not a statement of historical fact is a forward-looking statement, and, the words “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” “assumes,” “may,” “will,” “would,” “should,” “continue,” “prospective,” “project,” and other similar expressions identify forward-looking statements. Forward-looking statements also include statements regarding bookings, shipments, revenue, profitability, targeted markets, increase in manufacturing capacity and utilization thereof, future products and capital resources. These statements are based upon management’s current expectations and estimates as to the prospective events and circumstances that may or may not be within the company’s control and as to which there can be no assurance. Actual results could differ materially from those projected in the forward-looking statements as a result of various factors, including those economic, business, operational and financial considerations set forth in Vicor’s Annual Report on Form 10-K for the year ended December 31, 2025, under Part I, Item I — “Business,” under Part I, Item 1A — “Risk Factors,” under Part I, Item 3 — “Legal Proceedings,” and under Part II, Item 7 — “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” The risk factors set forth in the Annual Report on Form 10-K may not be exhaustive. Therefore, the information contained in the Annual Report on Form 10-K should be read together with other reports and documents filed with the Securities and Exchange Commission from time to time, including Forms 10-Q, 8-K and 10-K, which may supplement, modify, supersede or update those risk factors. Vicor does not undertake any obligation to update any forward-looking statements as a result of future events or developments.
Vicor Corporation designs, develops, manufactures, and markets modular power components and complete power systems based upon a portfolio of patented technologies. Headquartered in Andover, Massachusetts, Vicor sells its products to the power systems market, including enterprise and high performance computing, industrial equipment and automation, telecommunications and network infrastructure, vehicles and transportation, and aerospace and defense electronics.
For further information contact:
James F. Schmidt, Chief Financial Officer
Office: (978) 470-2900
Email: [email protected]
VICOR CORPORATION CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Thousands except for per share amounts) QUARTER ENDED SIX MONTHS ENDED (Unaudited) (Unaudited) JUN 30, JUN 30, JUN 30, JUN 30, 2026
2025
2026
2025
Product revenue$112,926 $85,693 $210,930 $168,899Royalty revenue 30,426 10,353 45,391 21,115Total net revenues 143,352 96,046 256,321 190,014Patent litigation settlement - 45,000 - 45,000Total net revenues and patent litigation settlement 143,352 141,046 256,321 235,014Cost of product revenues 60,232 48,918 110,835 98,521Gross margin 83,120 92,128 145,486 136,493 Operating expenses: Selling, general and administrative 27,601 27,952 50,793 53,089Research and development 20,641 18,791 42,931 38,168Total operating expenses 48,242 46,743 93,724 91,257 Income from operations 34,878 45,385 51,762 45,236 Other income (expense), net 4,045 3,657 7,564 6,791 Income before income taxes 38,923 49,042 59,326 52,027 Less: (Benefit) provision for income taxes (10,863) 7,842 (11,136) 8,266 Consolidated net income 49,786 41,200 70,462 43,761 Less: Net income attributable to noncontrolling interest 14 8 26 30 Net income attributable to Vicor Corporation$49,772 $41,192 $70,436 $43,731 Net income per share attributable to Vicor Corporation: Basic$1.08 $0.92 $1.54 $0.97Diluted$1.04 $0.91 $1.48 $0.97 Shares outstanding: Basic 45,936 45,007 45,703 45,112Diluted 47,708 45,077 47,481 45,286 VICOR CORPORATION CONDENSED CONSOLIDATED BALANCE SHEET (Thousands) JUN 30, DEC 31, 2026 2025 (Unaudited) (Unaudited)Assets Current assets: Cash and cash equivalents$453,582 $402,805 Accounts receivable, net 78,929 60,716 Inventories 104,489 91,340 Other current assets 33,346 32,502 Total current assets 670,346 587,363 Long-term deferred tax assets 38,746 27,463 Long-term investment, net 2,525 2,462 Property, plant and equipment, net 162,536 147,690 Other assets 20,009 20,853 Total assets$894,162 $785,831 Liabilities and Equity Current liabilities: Accounts payable$20,415 $12,290 Accrued compensation and benefits 15,321 12,031 Accrued expenses 7,662 3,691 Accrued litigation - 28,275 Sales allowances 4,414 3,136 Short-term lease liabilities 1,767 1,568 Income taxes payable 141 904 Short-term deferred revenue and customer prepayments 875 3,426 Total current liabilities 50,595 65,321 Long-term income taxes payable 3,132 3,086 Long-term lease liabilities 5,841 5,608 Total liabilities 59,568 74,015 Equity: Vicor Corporation stockholders' equity: Capital stock 472,396 462,805 Retained earnings 491,795 421,359 Accumulated other comprehensive loss (1,733) (1,672)Treasury stock (128,139) (170,935)Total Vicor Corporation stockholders' equity 834,319 711,557 Noncontrolling interest 275 259 Total equity 834,594 711,816 Total liabilities and equity$894,162 $785,831
Atlantic Union vykázala za čtvrtletí končící v červnu 2026 zisk na akcii 0,94 USD a tržby 419,93 milionu USD, obojí nad odhady. Zisk na akcii meziročně mírně klesl z 0,95 USD.
Atlantic Union (AUB - Free Report) came out with quarterly earnings of $0.94 per share, beating the Zacks Consensus Estimate of $0.92 per share. This compares to earnings of $0.95 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +2.17%. A quarter ago, it was expected that this holding company for Atlantic Union Bank would post earnings of $0.88 per share when it actually produced earnings of $0.89, delivering a surprise of +1.14%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Atlantic Union, which belongs to the Zacks Banks - Northeast industry, posted revenues of $419.93 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 6.32%. This compares to year-ago revenues of $407.26 million. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Atlantic Union shares have added about 19.1% since the beginning of the year versus the S&P 500's gain of 8.7%.
What's Next for Atlantic Union?While Atlantic Union 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 Atlantic Union 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 $0.96 on $394.02 million in revenues for the coming quarter and $3.74 on $1.56 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the top 35% 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, Carter Bankshares, Inc. (CARE - Free Report) , is yet to report results for the quarter ended June 2026.
This company is expected to post quarterly earnings of $0.41 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.
Carter Bankshares, Inc.'s revenues are expected to be $66.73 million, up 78.2% from the year-ago quarter.
Alaska Air Group zveřejní výsledky hospodaření za 2. čtvrtletí po uzavření trhu v úterý; analytici čekají ztrátu 99 centů na akcii a tržby 4,09 miliardy USD. Po slabším 1. čtvrtletí firma pozastavila výhled.
Alaska Air Group, Inc. (NYSE:ALK) will release its second quarter earnings report after the closing bell on Tuesday, July 21.
Analysts expect the Seattle, Washington-based company to report a quarterly loss of 99 cents per share, versus a profit of $1.78 per share in the year-ago period. The consensus estimate for Alaska Air’s quarterly revenue is $4.09 billion. It reported $3.7 billion last year, according to Benzinga Pro.
On April 20, Alaska Air reported worse-than-expected first-quarter fiscal year 2026 results and suspended guidance.
Shares of Alaska Air rose 1.2% to close at $46.04 on Monday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.
Considering buying ALK stock? Here’s what analysts think:
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Baader Bank Aktiengesellschaft decreased its stake in shares of ResMed Inc. (NYSE:RMD – Free Report) by 61.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,768 shares of the medical equipment provider’s stock after selling 7,696 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in ResMed were worth $1,045,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in RMD. Jones Financial Companies Lllp raised its stake in shares of ResMed by 52.6% during the first quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock valued at $645,000 after acquiring an additional 994 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in ResMed in the second quarter worth approximately $389,000. Brown Advisory Inc. increased its holdings in ResMed by 17.8% during the 2nd quarter. Brown Advisory Inc. now owns 1,586 shares of the medical equipment provider’s stock worth $409,000 after purchasing an additional 240 shares during the period. Cresset Asset Management LLC purchased a new position in ResMed during the 2nd quarter worth $206,000. Finally, Alliancebernstein L.P. raised its position in ResMed by 24.2% during the 2nd quarter. Alliancebernstein L.P. now owns 286,078 shares of the medical equipment provider’s stock valued at $73,808,000 after purchasing an additional 55,790 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.
ResMed Trading Down 0.2% NYSE RMD opened at $198.55 on Tuesday. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. The firm has a market cap of $28.80 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 1.19 and a beta of 0.78. The company has a 50 day moving average price of $199.39 and a 200 day moving average price of $226.21. ResMed Inc. has a 52 week low of $180.26 and a 52 week high of $293.81.
ResMed (NYSE:RMD – Get Free Report) last announced its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.07. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the firm earned $2.37 earnings per share. ResMed’s revenue was up 10.8% compared to the same quarter last year. As a group, sell-side analysts forecast that ResMed Inc. will post 11.13 EPS for the current fiscal year.
ResMed Dividend Announcement The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Thursday, May 14th. ResMed’s dividend payout ratio is currently 23.14%.
Analyst Upgrades and Downgrades Several brokerages have weighed in on RMD. Mizuho lowered their target price on ResMed from $235.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, July 15th. Evercore set a $255.00 price target on ResMed and gave the company an “outperform” rating in a research note on Monday, April 13th. The Goldman Sachs Group restated a “buy” rating on shares of ResMed in a report on Wednesday, July 1st. Royal Bank Of Canada lowered shares of ResMed from an “outperform” rating to a “sector perform” rating and set a $234.00 price objective for the company. in a research note on Thursday. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $230.00 target price (down from $286.00) on shares of ResMed in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $250.00.
Get Our Latest Analysis on RMD
Insider Buying and Selling at ResMed In related news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $218.55, for a total transaction of $1,090,783.05. Following the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at $101,893,036.65. The trade was a 1.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 14,973 shares of company stock valued at $3,096,067. 0.65% of the stock is owned by company insiders.
ResMed Company Profile (Free Report)
ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.
ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.
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InterDigital uzavřel novou patentovou licenční smlouvu s KEBA Energy Automation GmbH pro vybrané produkty nabíječek EV. Dohoda se týká jeho globálního patentového portfolia pro standardy 3G, 4G a Wi‑Fi.
July 21, 2026 08:30 ET | Source: InterDigital, Inc.
WILMINGTON, Del., July 21, 2026 (GLOBE NEWSWIRE) -- InterDigital, Inc. (Nasdaq: IDCC), a wireless, video, and AI technology research and development company, today announced that the company has signed a new patent license agreement with KEBA Energy Automation GmbH.
The agreement covers certain KEBA EV charger products under InterDigital’s global patent portfolio related to the 3G, 4G and Wi-Fi standards.
“This license reflects the expansion of connectivity into new verticals and demonstrates KEBA’s recognition of the value our innovation brings to products in the Internet of Things,” commented Julia Mattis, Chief Licensing Officer, InterDigital. “We expect to see continued licensing momentum as more manufacturers implement our technology across new device categories in the IoT market.”
About InterDigital®
InterDigital is a global research and development company focused primarily on wireless, video, artificial intelligence (“AI”), and related technologies. We design and develop foundational technologies that enable connected, immersive experiences in a broad range of communications and entertainment products and services. We license our innovations worldwide to companies providing such products and services, including makers of wireless communications devices, consumer electronics, IoT devices, cars and other motor vehicles, and providers of cloud-based services such as video streaming. As a leader in wireless technology, our engineers have designed and developed a wide range of innovations that are used in wireless products and networks, from the earliest digital cellular systems to 5G and today’s most advanced Wi-Fi technologies. We are also a leader in video processing and video encoding/decoding technology, with a significant AI research effort that intersects with both wireless and video technologies. Founded in 1972, InterDigital is listed on Nasdaq.
InterDigital is a registered trademark of InterDigital, Inc.
For more information, visit: www.interdigital.com.
InterDigital Contact:
Richard Lloyd
Email: [email protected]
+1 (202) 349-1716
AI chips are fueling the latest technology. For example, chatbots, autonomous vehicles, and humanoid robots all need powerful parallel processors that can process massive amounts of data rapidly so they can respond to questions or what's happening in the environment around them in real-time.
However, when they're working, those AI chips get extremely hot, which can result in reduced performance, component damage, shortened chip lifespans, and even fires. That's why liquid cooling systems are a part of every data center. They prevent the chips from overheating, and those systems are as vital to the AI boom as the chips themselves.
Vertiv (VRT +0.75%) is among the leaders in data center liquid cooling. Its stock is up by more than 60% year to date, soundly outperforming the S&P 500 over that period. Its key role in AI infrastructure suggests that its momentum could be sustainable.
Image source: Getty Images.
More data centers increase the demand for liquid cooling solutions Vertiv's revenue growth will depend on the success of Nvidia and the continuation of the data center build-out. The leading chipmaker's 85% year-over-year revenue growth in its fiscal 2027 first quarter shows that chips are still in high demand. Each of those chips will need liquid cooling to actually function.
Today's Change
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The data center narrative is even more compelling. Market intelligence company Cleanview asserts that there are 1,214 large-scale data centers operating in the U.S., with another 1,714 data centers planned. The site also lists 55,509 megawatts in operating capacity, compared to 369,555 megawatts in planned capacity.
Iren's Childress site tops the list as the largest operating data center in the U.S., at 750 megawatts. Meanwhile, the nine largest data centers in development will all exceed 5 gigawatts. That indicates just how huge the market is for liquid cooling solutions of the type that Vertiv provides.
Vertiv's pricing power is growing Naturally, all of the upcoming data centers have boosted demand for Vertiv's services, which has given it strong pricing power. The company reported 30% year-over-year revenue growth in the first quarter while more than doubling its net income.
Vertiv's net profit margins comfortably sit in the double digits and may continue to inch higher if current growth rate trends prevail. Given the soaring demand for new data center capacity, that's likely. However, Vertiv also benefits since its services are required to maintain the liquid cooling systems it installs. Every new data center site represents a potential customer and a potential recurring revenue source.
In its Q1 report, management did not mention the company's backlog, but Vertiv wrapped up 2025 with a book-to-bill backlog of $15 billion, which was a 109% year-over-year increase. And Vertiv recently opened a new manufacturing facility in Malaysia so it can serve more customers, evidence that it expects AI demand to keep growing.
Ally Financial oznámila hospodářské výsledky za 2. čtvrtletí 2026. Firma zároveň uvedla, že spravuje aktiva v objemu 200 miliard USD a má 9,6 milionu zákazníků.
, /PRNewswire/ -- Ally Financial Inc. (NYSE: ALLY) today reported its second quarter 2026 results. View full press release in PDF.
The news release, presentation and financial supplement can be accessed in the following ways:
Ally Financial Press Room at https://media.ally.com Ally Financial Investor Relations website at https://ally.com/about/investor/ Ally will host a conference call at 9 a.m. ET to review the company's performance. The call will include a review of the results, followed by a question and answer session.
Conference Call Information: Conference call participation is available via webcast or dial-in. The webcast will be live on Ally's Investor Relations website in the Events & Presentations section (https://www.ally.com/about/investor/events-presentations/index.html).
To join the conference via dial-in, please pre-register via the following link at least 15 minutes before the call begins: https://register-conf.media-server.com/register/BIe8c04604b04f45b8bfc92dc71d60682f. Upon registration, you will be provided with the conference dial-in number as well as a unique registrant ID.
A replay of the call will be available via webcast on the Ally Investor Relations website.
About Ally Financial
Ally Financial Inc. (NYSE: ALLY) includes the nation's largest all-digital bank and auto finance business, driven by a mission to "Do It Right" for its customers and communities. Ally is a U.S. financial holding company with $200 billion in assets and 9.6 million customers (June 30, 2026). Ally Bank, Member FDIC, offers online banking products, including high-yield savings and no hidden fee checking, and was the first major U.S. bank to eliminate overdraft fees. Ally also provides investing solutions through Ally Invest, including online brokerage, automated investing, IRAs and personal advice. As a leader in auto finance, Ally provides consumer and dealer financing, insurance, and vehicle remarketing services. Ally's seasoned corporate finance business provides capital to equity sponsors and middle-market companies. Visit ally.com.
Contacts:
Sean Leary
Ally Investor Relations
704-444-4830
[email protected]
Peter Gilchrist
Ally Communications (Media)
704-644-6299
[email protected]
Timken oznámí výsledky za 2. čtvrtletí 2026 v úterý 4. srpna před otevřením burzy NYSE. Ten den uspořádá také konferenční hovor s investory a analytiky.
Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a leader in advanced motion technology, will release its 2026 second-quarter financial results on Tuesday, August 4, prior to the opening of the New York Stock Exchange. The company will host a conference call that day to discuss its financial performance with investors and securities analysts. The financial results and conference call materials will be available online at http://investors.timken.com.
Conference Call:
Timken's Q2 2026 Earnings Results
Tuesday, August 4, 2026
11:00 a.m. Eastern Time
Live Dial-In: 1-888-880-3330
Conference ID: 2764753
Live Webcast:
http://investors.timken.com
Register in Advance:
https://tmkn.biz/4b21FiY
Replay:
https://tmkn.biz/4b21FiY
About The Timken Company
The Timken Company (NYSE: TKR; www.timken.com), a leader in advanced motion technology, designs and manufacturers highly engineered systems and components for customers in strategic end markets, including aerospace and defense, power and electrification, and automation and industrial solutions. With more than 125 years of specialized expertise and a multinational presence, Timken is a trusted partner worldwide, innovating and powering performance across the application lifecycle. The company posted $4.6 billion in sales in 2025 and employs approximately 19,000 people, operating from 45 countries. Learn more at www.timken.com or @TheTimkenCompany.
Media Relations:
Sarah Factor
234.262.4878
[email protected]
Investor Relations:
Neil Frohnapple
234.262.2310
[email protected]
Western Midstream Partners nabízí dividendový výnos přes 8 % a Wall Street ji sleduje jen omezeně. Firma očekává letošní distribuovatelný peněžní tok 1,9 až 2,1 miliardy USD, což pokrývá roční výplatu 1,5 miliardy USD.
With a more than 8% yield, Western Midstream Partners (WES +1.39%) should be hard to ignore. However, it doesn't have as much positive coverage on Wall Street as other master limited partnerships (MLPs). As a result, it's flying under the radar of most investors.
Here's a look at why you won't want to ignore this high-yielding MLP.
Image source: Getty Images.
Underfollowed and unloved Fourteen Wall Street analysts currently cover Western Midstream Partners. Only four have a "buy" rating on the MLP, while nine rate it a "hold" and one has a "sell" rating. For comparison, 21 analysts currently cover both Energy Transfer (ET 0.20%) and Enterprise Products Partners (EPD +1.52%). They're very bullish on Energy Transfer (five "strong buys" and 14 "buy" ratings) and moderately bullish on Enterprise Products Partners (two "strong buys" and eight "buys").
There are many reasons fewer analysts cover this MLP. It's not as big or as diversified as Energy Transfer or Enterprise Products Partners. Western Midstream also has significant ties to one company: Occidental Petroleum. The oil giant is its top unitholder (39.5% of its common units) and largest customer (55% of its revenue in 2025, falling to 47% in 2026). These and other factors are leading some Wall Street analysts to completely ignore the company.
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What Wall Street is missing For the most part, Wall Street analysts focus on growth over income. As a result, they tend to miss out on the total return potential of some higher-yielding stocks.
Western Midstream's base return comes from its high-yielding distribution. At over 8%, the MLP offers a higher cash yield than Enterprise Products Partners (5.8% current yield) and Energy Transfer (6.6%). That high-yielding payout is on a rock-solid foundation. It generates stable cash flows backed by long-term, fee-based contracts with Occidental Petroleum and third-party customers. The MLP currently expects to produce between $1.9 billion and $2.1 billion of distributable cash flow this year, easily covering its $1.5 billion annual distribution outlay. It also has a solid investment-grade balance sheet backed by a low 3.1 times leverage ratio.
That gives the MLP the financial flexibility to grow its operations through bolt-on acquisitions and organic growth capital projects. The company recently closed its $1.6 billion acquisition of Brazos Delaware, which strategically expands its operations in a core area, further diversifies its revenue away from Occidental, while immediately boosting its cash flow per unit. The MLP also has several organic expansion projects underway, including the Loving II gas processing plant and Pathfinder Pipeline, both of which will enter commercial service early next year. Western expects its growth drivers to fuel long-term adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) growth of 4% to 5% per year. That should support continued annual distribution growth in the low-to-mid single-digits.
High-octane total return potential Western Midstream's high-yielding distribution provides an over 8% base cash return each year, which should grow at a low-to-mid single-digit rate. The company's earnings and distribution growth should support a steadily rising unit price. Add it up, and the MLP could deliver an annual total return of 12% to 14%. That's an attractive proposition for investors comfortable with receiving the Schedule K-1 Federal tax form the MLP sends each year.
Matt DiLallo has positions in Energy Transfer and Enterprise Products Partners. The Motley Fool recommends Enterprise Products Partners and Occidental Petroleum. The Motley Fool has a disclosure policy.
Andra AP fonden grew its holdings in DoorDash, Inc. (NASDAQ:DASH – Free Report) by 44.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 154,300 shares of the company’s stock after purchasing an additional 47,160 shares during the period. Andra AP fonden’s holdings in DoorDash were worth $23,168,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in DoorDash in the 4th quarter valued at about $1,093,650,000. Wellington Management Group LLP boosted its stake in DoorDash by 593.1% during the fourth quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company’s stock worth $1,241,494,000 after buying an additional 4,690,744 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of DoorDash by 32.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock valued at $3,161,234,000 after acquiring an additional 3,447,754 shares during the last quarter. Coatue Management LLC increased its position in shares of DoorDash by 77.8% during the fourth quarter. Coatue Management LLC now owns 4,365,365 shares of the company’s stock valued at $988,668,000 after acquiring an additional 1,910,488 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of DoorDash in the 4th quarter valued at approximately $372,128,000. 90.64% of the stock is owned by institutional investors and hedge funds.
DoorDash Price Performance Shares of DASH opened at $189.02 on Tuesday. The company has a market cap of $82.36 billion, a P/E ratio of 90.01 and a beta of 1.78. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. The firm’s 50 day moving average price is $170.39 and its 200 day moving average price is $177.02.
DoorDash (NASDAQ:DASH – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. The company had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The firm’s revenue was up 33.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 EPS. On average, research analysts forecast that DoorDash, Inc. will post 2.39 earnings per share for the current fiscal year.
Insiders Place Their Bets In related news, CFO Ravi Inukonda sold 19,095 shares of the business’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $188.04, for a total transaction of $3,590,623.80. Following the completion of the transaction, the chief financial officer directly owned 252,443 shares of the company’s stock, valued at $47,469,381.72. The trade was a 7.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 23,125 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $191.19, for a total value of $4,421,268.75. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 74,927 shares of company stock valued at $13,241,532. 5.83% of the stock is owned by company insiders.
Analysts Set New Price Targets DASH has been the topic of several recent analyst reports. Stifel Nicolaus decreased their price objective on shares of DoorDash from $215.00 to $185.00 and set a “hold” rating on the stock in a report on Monday, April 13th. BTIG Research decreased their price target on DoorDash from $280.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, June 12th. The Goldman Sachs Group set a $280.00 price target on DoorDash in a research report on Thursday, May 7th. Wedbush initiated coverage on DoorDash in a research note on Thursday, July 16th. They issued a “neutral” rating and a $205.00 price objective for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $265.00 price objective on shares of DoorDash in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and an average target price of $252.89.
View Our Latest Analysis on DoorDash
DoorDash Profile (Free Report)
DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.
In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.
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Hasbro zvýšilo celoroční výhled tržeb i zisku díky silné poptávce po digitálním hraní a značce Magic: The Gathering. Ve 2. čtvrtletí tržby stouply o 16 % na 1,14 miliardy USD.
Hasbro signage is displayed during the New York Toy Fair in New York City, U.S., February 17, 2026. REUTERS/Jeenah Moon Purchase Licensing Rights, opens new tab
July 21 (Reuters) - Hasbro (HAS.O), opens new tab raised its annual revenue and profit forecasts on Tuesday, betting on resilient demand for its digital gaming business and continued strength in "Magic: The Gathering" despite an uncertain consumer spending environment.
The company also beat second-quarter sales and profit estimates, as its flagship "Magic" franchise fueled a 27% rise in revenue at its Wizards of the Coast and Digital Gaming unit. In the year-ago period, the unit recorded 16% growth.
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Stronger spending by higher-income consumers helped Hasbro offset demand pressure from lower-income households facing persistent inflation.
"With strong indications for our remaining releases and line of sight to continued growth in 2027, the Magic flywheel is firing on all cylinders," CEO Chris Cocks said.
Hasbro launched the "Secrets of Strixhaven" series in April and plans to release its "Marvel Super Heroes" title later this year.
Some analysts, however, had questioned whether the franchise can sustain recent growth as second-half comparisons become tougher.
Shares of the company, which also makes "Dungeons & Dragons" games, were marginally higher in premarket trading.
The Play-Doh maker now expects annual revenue to grow in the range of 5% to 7%, compared with its prior forecast of 3% to 5%. It sees annual adjusted core profit between $1.45 billion and $1.50 billion, compared with the previous outlook range of $1.40 billion to $1.45 billion.
Second-quarter revenue rose 16% to $1.14 billion, topping analysts' estimates of $1.07 billion, according to data compiled by LSEG.
The company's quarterly adjusted profit fell 1.5% to $1.28 per share. Analysts had estimated a profit of $1.14 per share.
Hasbro said it incurred $11 million in incremental expenses in the quarter from a cybersecurity incident that occurred in March, and expects additional related costs in the future.
Reporting by Neil J Kanatt in Bengaluru; Editing by Leroy Leo
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Hasbro (HAS - Free Report) came out with quarterly earnings of $1.28 per share, beating the Zacks Consensus Estimate of $1.17 per share. This compares to earnings of $1.3 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +9.40%. A quarter ago, it was expected that this toy maker would post earnings of $1.12 per share when it actually produced earnings of $1.47, delivering a surprise of +31.25%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Hasbro, which belongs to the Zacks Toys - Games - Hobbies industry, posted revenues of $1.14 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 8.93%. This compares to year-ago revenues of $980.8 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.
Hasbro shares have lost about 0.5% since the beginning of the year versus the S&P 500's gain of 8.7%.
What's Next for Hasbro?While Hasbro 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 Hasbro 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 $1.87 on $1.5 billion in revenues for the coming quarter and $6.04 on $4.99 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, Toys - Games - Hobbies is currently in the top 3% 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.
Jakks Pacific (JAKK - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on July 23.
This toymaker is expected to post quarterly earnings of $0.25 per share in its upcoming report, which represents a year-over-year change of +733.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Jakks Pacific's revenues are expected to be $129.62 million, up 8.8% from the year-ago quarter.
Bessemer Group ve 1. čtvrtletí zvýšila podíl v Primoris Services o 41 998,7 % na 32 416 akcií. Firma zároveň oznámila za čtvrtletí EPS 0,59 USD, což zaostalo za odhadem 0,87 USD, a tržby 1,56 miliardy USD, což bylo pod odhadem 1,73 miliardy USD.
Bessemer Group Inc. boosted its stake in shares of Primoris Services Corporation (NYSE:PRIM – Free Report) by 41,998.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 32,416 shares of the company’s stock after acquiring an additional 32,339 shares during the period. Bessemer Group Inc. owned about 0.06% of Primoris Services worth $4,637,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PRIM. Wellington Management Group LLP raised its position in shares of Primoris Services by 163.0% during the 4th quarter. Wellington Management Group LLP now owns 1,746,203 shares of the company’s stock worth $216,774,000 after purchasing an additional 1,082,218 shares during the last quarter. Norges Bank acquired a new stake in Primoris Services in the 4th quarter worth about $103,368,000. State Street Corp boosted its holdings in Primoris Services by 56.8% in the 4th quarter. State Street Corp now owns 2,011,488 shares of the company’s stock worth $249,866,000 after buying an additional 728,646 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Primoris Services by 7.8% in the 4th quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company’s stock worth $804,361,000 after buying an additional 466,192 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Primoris Services by 2,338.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 314,426 shares of the company’s stock worth $39,033,000 after buying an additional 301,532 shares in the last quarter. 91.82% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Primoris Services In related news, Director David Lee King sold 20,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total value of $2,381,800.00. Following the completion of the sale, the director owned 14,941 shares of the company’s stock, valued at approximately $1,779,323.69. This represents a 57.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John M. Perisich sold 29,707 shares of Primoris Services stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the transaction, the insider directly owned 27,574 shares in the company, valued at $3,525,611.64. This trade represents a 51.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company’s stock.
Primoris Services Price Performance PRIM stock opened at $86.55 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. The business has a 50 day simple moving average of $103.71 and a 200-day simple moving average of $133.01. The firm has a market capitalization of $4.70 billion, a PE ratio of 19.06 and a beta of 1.41. Primoris Services Corporation has a 1 year low of $65.00 and a 1 year high of $205.50.
Primoris Services (NYSE:PRIM – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.28). The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. Primoris Services’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Equities research analysts anticipate that Primoris Services Corporation will post 1.88 earnings per share for the current fiscal year.
Primoris Services Announces Dividend The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. Primoris Services’s payout ratio is presently 7.05%.
Analyst Ratings Changes A number of brokerages have commented on PRIM. Oppenheimer began coverage on Primoris Services in a report on Tuesday, July 7th. They set an “outperform” rating and a $135.00 target price for the company. The Goldman Sachs Group raised Primoris Services from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $107.00 to $102.00 in a research note on Thursday, June 25th. JPMorgan Chase & Co. upgraded Primoris Services from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $105.00 to $116.00 in a research report on Monday, June 29th. Guggenheim restated a “buy” rating and issued a $162.00 price objective on shares of Primoris Services in a report on Tuesday, June 23rd. Finally, Cantor Fitzgerald lowered their target price on shares of Primoris Services from $124.00 to $100.00 and set a “neutral” rating on the stock in a research note on Thursday, June 25th. Eleven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Primoris Services has an average rating of “Moderate Buy” and an average target price of $137.47.
Get Our Latest Report on PRIM
About Primoris Services (Free Report)
Primoris Services Corporation, a specialty contractor company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. It operates through three segments: Utilities, Energy/Renewables, and Pipeline Services. The Utilities segment offers installation and maintenance services for new and existing natural gas distribution systems, electric utility distribution and transmission systems, and communications systems. The Energy/Renewables segment provides a range of services, including engineering, procurement, and construction, as well as retrofits, highway and bridge construction, demolition, site work, soil stabilization, mass excavation, flood control, upgrades, repairs, outages, and maintenance services to renewable energy and energy storage, renewable fuels, petroleum, refining, and petrochemical industries, as well as state departments of transportation.
Featured Stories Five stocks we like better than Primoris Services The Ugliest Stocks in the Market Just Got a Very Expensive Vote of Confidence Is Domino’s Stock Serving Up a Buying Opportunity? A $1T Black Hole: SpaceX Eyes Pentagon AI to Break Free Why Gold Miners Could Be the Market’s Biggest Comeback Story Want to see what other hedge funds are holding PRIM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Primoris Services Corporation (NYSE:PRIM – Free Report).
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Ademi LLP zkoumá, zda Element Solutions při dohodě se Solstice Advanced Materials nabízí akcionářům spravedlivou protihodnotu. Akcionáři mají obdržet 10,00 USD v hotovosti a 0,500 akcie Solstice, což odpovídá zhruba 50,10 USD na akcii Element.
MILWAUKEE, July 21, 2026 (GLOBE NEWSWIRE) -- Ademi LLP is investigating Element Solutions (NYSE: ESI) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Solstice Advanced Materials.
Click here to learn how to join our investigation and obtain additional information or contact us at [email protected] or toll-free: 866-264-3995. There is no cost or obligation to you.
Element Solutions shareholders will receive $10.00 in cash and 0.500 shares of Solstice common stock, representing implied consideration of approximately $50.10 per Element share. Upon closing, Element shareholders are expected to own approximately 44% of the combined company.
Element Solutions insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Element Solutions by imposing a significant penalty if Element Solutions accepts a competing bid. We are investigating the conduct of the Element Solutions board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Equifax ve 2. čtvrtletí zvýšil tržby o 11 % na 1 700,1 milionu USD a oznámil dohodu o koupi Círculo de Crédito za 750 milionů USD. Zároveň zdvojnásobil cíl úspor díky AI na 150 milionů USD.
, /PRNewswire/ -- Equifax® (NYSE: EFX) today announced financial results for the quarter ended June 30, 2026.
Second quarter reported revenue of $1.700 billion, up a strong 11% with 10% local currency revenue growth. Diversified markets revenue up 7% on a reported basis, up 6% in local currency, with strong performances in Workforce Solutions and USIS. Workforce Solutions second quarter revenue up 7%. Verification Services revenue up 7% led by high double digit revenue growth in Talent Solutions and Consumer Lending. Strong execution in Government with agreements signed in First Half totaling about $300 million in annual contract value. USIS second quarter revenue up strong 17% with Diversified Markets revenue growth accelerating sequentially over 300 basis points to 6%. USIS Mortgage revenue up 40%. International second quarter revenue up 8% on a reported basis. Local currency revenue growth up 4% with high single digit revenue growth in Asia Pacific and mid single digit growth in Canada. Second quarter U.S. Mortgage revenue up very strong 25%. New Product Innovation leveraging the EFX Cloud, EFX.AI, and proprietary data delivered strong 16% new product Vitality Index. Doubling 2026-2028 AI-driven cost reduction target to $150 million. Returned $366 million in cash to shareholders through share repurchases and quarterly dividend. Signed a definitive agreement to acquire Círculo de Crédito, the fastest growing credit bureau in Mexico, for an enterprise value of $750 million. Expected to close in the fourth quarter of 2026. "Equifax delivered a strong second quarter performance executing on our EFX2028 Strategic Priorities with reported revenue of $1.700 billion, up 11% on a reported basis, with 10% local currency revenue growth enabled by a 16% new product Vitality Index, above our 10% long-term goal, with double digit Vitality across all business units. Diversified Markets local currency revenue growth of 6% reflects strong revenue growth in Workforce Solutions and USIS. U.S. Mortgage revenue grew 25% and in line with our expectations despite higher mortgage rates throughout the second quarter.
Workforce Solutions delivered 7% revenue growth, with Diversified Markets growth of 6% led by strong high double digit growth in Talent Solutions and Consumer Lending. The Workforce Solutions Government team continues to execute well, signing new contract wins and renewals totaling about $300 million in annual contract value in the first half of 2026 that will principally benefit 2027 and beyond. Workforce Solutions Mortgage revenue was up 8%. USIS delivered strong revenue growth of 17%, with Diversified Markets revenue growth of 6%, which was up over 300 basis points sequentially and very strong 40% Mortgage revenue growth. International delivered 4% local currency revenue growth with high single digit revenue growth in Asia Pacific and mid single digit growth in Canada.
Equifax is on offense deploying EFX.AI to deliver higher-performing products, models and scores while driving AI agents and tools across our operations, technology, and support teams for productivity. We are doubling our AI-driven cost reduction goal set earlier in the year to $150 million from 2026 to 2028, reflecting the accelerating momentum deploying AI across EFX to drive speed, accuracy, and productivity.
Equifax signed a definitive agreement to acquire Círculo de Crédito, the fastest growing credit bureau in Mexico, for an enterprise value of $750 million. The acquisition fits perfectly in our balanced capital allocation framework, with our focus on highly accretive bolt-on acquisitions while continuing significant ongoing return of capital to shareholders and maintaining our strong investment grade balance sheet. Equifax returned $366 million of cash to shareholders in the quarter, including repurchasing 1.8 million shares, or about 1% of shares outstanding, for $300 million and paying $66 million in quarterly dividends," said Mark W. Begor, Equifax Chief Executive Officer.
"Equifax is fundamentally a different company on how we go to market from Technology to Data & Analytics, EFX.AI capabilities, product focus, and AI-driven Operations all leveraging our Cloud technology investment and patented EFX.AI products and D&A capabilities. Equifax's scale proprietary data is the foundation of our AI data moat and a big competitive advantage, and we are expanding our capabilities to leverage our unique, non-public data assets with EFX.AI and our Agentic AI capabilities to rapidly deliver higher-performing scores, models, and multi-market products to help our customers grow.
Our strong second quarter results reflect the resiliency of the broad-based Equifax business model in an increasingly uncertain economy. We are energized about the New Equifax and we expect to deliver higher growth, margins, and accelerating free cash flow, and returning cash to shareholders in the future."
Financial Results Summary
The Company reported revenue of $1,700.1 million in the second quarter of 2026, up 11% and 10% on a reported and local currency basis, respectively, compared to the second quarter of 2025.
Net income attributable to Equifax of $183.9 million was down 4% in the second quarter of 2026 compared to $191.3 million in the second quarter of 2025.
Diluted EPS attributable to Equifax was $1.54 per share in the second quarter of 2026, up 1% compared to $1.53 per share in the second quarter of 2025.
Workforce Solutions Second Quarter Results
Total revenue was $705.4 million in the second quarter of 2026, up 7% compared to the second quarter of 2025. Operating margin for Workforce Solutions was 44.9% in the second quarter of 2026 compared to 46.4% in the second quarter of 2025. Adjusted EBITDA margin for Workforce Solutions was 52.1% in the second quarter of 2026 compared to 53.3% in the second quarter of 2025. Verification Services revenue was $607.6 million, up 7% compared to the second quarter of 2025. Employer Services revenue was $97.8 million, up 3% compared to the second quarter of 2025. USIS Second Quarter Results
Total revenue was $611.6 million in the second quarter of 2026, up 17% compared to the second quarter of 2025. Operating margin for USIS was 22.5% in the second quarter of 2026 compared to 22.6% in the second quarter of 2025. Adjusted EBITDA margin for USIS was 32.8% in the second quarter of 2026 compared to 35.0% in the second quarter of 2025. Online Information Solutions revenue was $545.4 million, up 19% compared to the second quarter of 2025. Financial Marketing Services revenue was $66.2 million, up 4% compared to the second quarter of 2025. International Second Quarter Results
Total revenue was $383.1 million in the second quarter of 2026, up 8% and up 4% compared to the second quarter of 2025 on a reported and local currency basis, respectively. Operating margin for International was 12.1% in the second quarter of 2026 compared to 10.9% in the second quarter of 2025. Adjusted EBITDA margin for International was 27.6% in the second quarter of 2026 compared to 26.4% in the second quarter of 2025. Latin America revenue was $109.0 million, up 9% compared to the second quarter of 2025 on a reported basis and up 3% on a local currency basis. Europe revenue was $101.1 million, up 2% compared to the second quarter of 2025 on a reported basis and up 1% on a local currency basis. Asia Pacific revenue was $99.7 million, up 17% compared to the second quarter of 2025 on a reported basis and up 7% on a local currency basis. Canada revenue was $73.3 million, up 6% compared to the second quarter of 2025 on a reported and local currency basis. Adjusted EPS and Adjusted EBITDA Margin
Adjusted EPS attributable to Equifax was $2.25 in the second quarter of 2026, up 13% compared to the second quarter of 2025. Adjusted EBITDA margin was 32.5% in the second quarter of 2026, flat compared to the second quarter of 2025. These financial measures exclude certain items as described further in the Non-GAAP Financial Measures section below. 2026 Third Quarter and Full Year Guidance
Q3 2026
FY 2026
Low-End
High-End
Low-End
High-End
Reported Revenue
$1.680 billion
$1.710 billion
$6.710 billion
$6.780 billion
Reported Revenue Growth
8.7 %
10.7 %
10.5 %
11.6 %
Local Currency Growth (1)
8.4 %
10.4 %
9.8 %
10.9 %
Organic Local Currency Growth (1)
8.3 %
10.3 %
9.7 %
10.8 %
Adjusted Earnings Per Share
$2.15 per share
$2.25 per share
$8.39 per share
$8.69 per share
(1) Refer to page 9 for definitions. Additionally, the definitions can be found in the Non-GAAP Financial Measures below.
About Equifax
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by approximately 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com.
Earnings Conference Call and Audio Webcast
In conjunction with this release, Equifax will host a conference call on July 21, 2026 at 8:30 a.m. (ET) via a live audio webcast. To access the webcast and related presentation materials, go to the Investor Relations section of our website at www.equifax.com. The discussion will be available via replay at the same site shortly after the conclusion of the webcast. This press release is also available at that website.
Non-GAAP Financial Measures
This earnings release presents adjusted EPS attributable to Equifax which is diluted EPS attributable to Equifax adjusted (to the extent noted above for different periods) for acquisition-related amortization expense of certain acquired intangibles, accrual for legal and regulatory matters related to the 2017 cybersecurity incident, gain on sale of an equity investment, foreign currency impact of certain intercompany loans, acquisition-related costs other than acquisition amortization, income tax effect of stock awards recognized upon vesting or settlement, Argentina highly inflationary foreign currency adjustment, realignment of resources and other costs, antitrust litigation costs and an accrual for a legal settlement. All adjustments are net of tax, with a reconciling item with the aggregated tax impact of the adjustments. This earnings release also presents (i) adjusted EBITDA and adjusted EBITDA margin, which is defined as consolidated net income attributable to Equifax plus net interest expense, income taxes, depreciation and amortization, and also excludes certain one-time items, (ii) local currency revenue change, which is calculated by conforming 2026 results using 2025 exchange rates, (iii) organic local currency revenue growth, which is defined as local currency revenue growth, adjusted to reflect an increase in prior year Equifax revenue from the revenue of acquired companies in the prior year period, (iv) free cash flow, which is defined as cash provided by operating activities less capital expenditures, and (v) cash conversion, which is defined as the ratio of free cash flow to adjusted net income. These are important financial measures for Equifax but are not financial measures as defined by GAAP.
These non-GAAP financial measures should be reviewed in conjunction with the relevant GAAP financial measures and are not presented as an alternative measure of net income or EPS as determined in accordance with GAAP.
Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures and related notes are presented in the Q&A. This information can also be found under "Investor Relations/Financial Information/Non-GAAP Financial Measures" on our website at www.equifax.com.
Forward-Looking Statements
This release contains forward-looking statements and forward-looking information. These statements can be identified by expressions of belief, expectation or intention, as well as statements that are not historical fact. These statements are based on certain factors and assumptions including with respect to foreign exchange rates, revenue growth, results of operations and financial performance, strategic initiatives, business plans, prospects and opportunities, the U.S. mortgage market, economic conditions and effective tax rates.
While Equifax believes these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. Several factors could cause actual results to differ materially from those expressed or implied in the forward-looking statements. These factors relate to (i) actions taken by us, including, but not limited to, restructuring actions, strategic initiatives (such as our cloud technology transformation), capital investments and asset acquisitions or dispositions, as well as (ii) developments beyond our control, including, but not limited to, changes in the U.S. mortgage market environment and changes more generally in U.S. and worldwide economic conditions (including resulting from changes in interest rates and inflation levels, the evolving impact of tariffs and geopolitical conflicts) that materially impact consumer spending, home prices, investment values, consumer debt, unemployment rates and the demand for Equifax's products and services. Deteriorations in economic conditions or increases in interest rates could lead to a decline in demand for our products and services and negatively impact our business. It may also impact financial markets and corporate credit markets, which could adversely impact our access to financing or the terms of any financing.
Other risk factors relevant to our business include: (i) any compromise of Equifax, customer or consumer information due to security breaches and other disruptions to our information technology infrastructure; (ii) the failure to achieve and maintain key industry or technical certifications; (iii) the failure to realize the anticipated benefits of our cloud technology transformation strategy; (iv) operational disruptions and strain on our resources caused by our transition to cloud-based technologies; (v) our ability to meet customer requirements for high system availability and response time performance; (vi) effects on our business if we provide inaccurate or unreliable data to customers; (vii) our ability to maintain access to credit, employment, financial and other data from external sources; (viii) the impact of competition; (ix) our ability to maintain relationships with key customers and business partners; (x) our ability to successfully introduce new products, services and analytical capabilities; (xi) the impact on the demand for some of our products and services due to the availability of free or less expensive consumer information; (xii) our ability to comply with our obligations under settlement agreements arising out of a material cybersecurity incident in 2017; (xiii) potential adverse developments in new and pending legal proceedings, government investigations and regulatory enforcement actions; (xiv) changes in, and the effects of, laws, regulations and government policies governing our business, including oversight by the Consumer Financial Protection Bureau in the U.S., the U.K. Financial Conduct Authority and Information Commissioner's Office in the U.K., and the Office of Australian Information Commission and the Australian Competition and Consumer Commission in Australia; (xv) the impact of privacy, cybersecurity, artificial intelligence or other data-related laws and regulations; (xvi) the economic, political and other risks associated with international sales and operations; (xvii) the impact on our reputation and business from our responsible business commitments and disclosures; (xviii) our ability to realize the anticipated strategic and financial benefits from our acquisitions, joint ventures and other alliances; (xix) any damage to our reputation due to our dependence on outsourcing certain portions of our operations; (xx) the termination or suspension of our government contracts; (xxi) the impact of infringement or misappropriation of intellectual property by us against third parties or by third parties against us; (xxii) an increase in our cost of borrowing and our ability to access the capital markets due to a credit rating downgrade; (xxiii) our ability to hire and retain key personnel; (xxiv) the impact of adverse changes in the financial markets and corresponding effects on our retirement and post-retirement pension plans; (xxv) the impact of health epidemics, pandemics and similar outbreaks on our business; and (xxvi) risks associated with our use of certain artificial intelligence and machine learning models and systems.
A summary of additional risks and uncertainties can be found in our Annual Report on Form 10-K for the year ended December 31, 2025 including without limitation under the captions "Item 1. Business -- Governmental Regulation," "-- Forward-Looking Statements" and "Item 1A. Risk Factors" and in our other filings with the U.S. Securities and Exchange Commission. Forward-looking statements are given only as at the date of this release and Equifax disclaims any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
EQUIFAX INC.
CONSOLIDATED STATEMENTS OF INCOME
Three Months Ended June 30,
2026
2025
(In millions, except per share amounts)
Operating revenue
$ 1,700.1
$ 1,537.0
Operating expenses:
Cost of services (exclusive of depreciation and amortization below)
773.7
664.6
Selling, general and administrative expenses
422.5
384.2
Depreciation and amortization
189.7
177.4
Total operating expenses
1,385.9
1,226.2
Operating income
314.2
310.8
Interest expense
(59.8)
(53.1)
Other income, net
2.5
3.6
Consolidated income before income taxes
256.9
261.3
Provision for income taxes
(71.8)
(68.7)
Consolidated net income
185.1
192.6
Less: Net income attributable to noncontrolling interests including redeemable
noncontrolling interests
(1.2)
(1.3)
Net income attributable to Equifax
$ 183.9
$ 191.3
Basic earnings per common share:
Net income attributable to Equifax
$ 1.55
$ 1.54
Weighted-average shares used in computing basic earnings per share
118.4
124.0
Diluted earnings per common share:
Net income attributable to Equifax
$ 1.54
$ 1.53
Weighted-average shares used in computing diluted earnings per share
119.2
125.0
Dividends per common share
$ 0.56
$ 0.50
EQUIFAX INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
June 30, 2026
December 31, 2025
(In millions, except par values)
(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents
$ 170.1
$ 180.8
Trade accounts receivable, net of allowance for doubtful accounts of $20.5 and $20.2 at June 30, 2026
and December 31, 2025, respectively
1,104.0
1,012.7
Prepaid expenses
166.5
144.2
Other current assets
140.7
74.5
Total current assets
1,581.3
1,412.2
Property and equipment:
Capitalized internal-use software and system costs
2,885.9
3,098.2
Data processing equipment and furniture
231.5
239.3
Land, buildings and improvements
296.7
299.6
Total property and equipment
3,414.1
3,637.1
Less accumulated depreciation and amortization
(1,484.9)
(1,704.7)
Total property and equipment, net
1,929.2
1,932.4
Goodwill
6,792.8
6,745.7
Indefinite-lived intangible assets
94.7
94.8
Purchased intangible assets, net
1,224.2
1,331.3
Other assets, net
359.6
347.8
Total assets
$ 11,981.8
$ 11,864.2
LIABILITIES AND EQUITY
Current liabilities:
Short-term debt and current maturities of long-term debt
$ 1,410.3
$ 1,038.0
Accounts payable
126.6
206.4
Accrued expenses
331.0
276.3
Accrued salaries and bonuses
165.9
286.1
Deferred revenue
101.2
101.2
Other current liabilities
490.5
427.4
Total current liabilities
2,625.5
2,335.4
Long-term debt
4,056.8
4,055.3
Deferred income tax liabilities, net
424.5
390.8
Long-term pension and other postretirement benefit liabilities
Common stock, $1.25 par value: Authorized shares - 300.0;
Issued shares - 189.3 at June 30, 2026 and December 31, 2025;
Outstanding shares - 117.6 and 120.4 at June 30, 2026 and December 31, 2025, respectively
236.6
236.6
Paid-in capital
2,082.7
2,023.4
Retained earnings
6,666.3
6,445.1
Accumulated other comprehensive loss
(460.1)
(517.1)
Treasury stock, at cost, 71.1 and 68.3 shares at June 30, 2026 and December 31, 2025, respectively
(4,139.4)
(3,577.8)
Stock held by employee benefits trusts, at cost, 0.6 shares at June 30, 2026 and December 31, 2025
(5.9)
(5.9)
Total Equifax shareholders' equity
4,380.2
4,604.3
Noncontrolling interests
18.2
19.5
Total shareholders' equity
4,398.4
4,623.8
Total liabilities, redeemable noncontrolling interests, and shareholders' equity
$ 11,981.8
$ 11,864.2
EQUIFAX INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Six Months Ended June 30,
2026
2025
(In millions)
(Unaudited)
Operating activities:
Consolidated net income
$ 358.4
$ 326.4
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Depreciation and amortization
376.2
355.7
Stock-based compensation expense
60.5
46.6
Deferred income taxes
38.0
(7.3)
Gain on sale of equity investment
—
(0.8)
Changes in assets and liabilities, excluding effects of acquisitions:
Accounts receivable, net
(91.2)
(69.0)
Other assets, current and long-term
(119.3)
(24.8)
Current and long term liabilities, excluding debt
(40.9)
(41.8)
Cash provided by operating activities
581.7
585.0
Investing activities:
Capital expenditures
(255.4)
(229.4)
Cash received from divestitures
—
0.8
Cash used in investing activities
(255.4)
(228.6)
Financing activities:
Net short-term borrowings (payments)
647.8
(115.9)
Payments on long-term debt
(276.4)
—
Treasury stock purchases
(560.0)
(127.4)
Payment of share repurchase excise tax
(8.3)
—
Dividends paid to Equifax shareholders
(133.5)
(110.5)
Distributions paid to noncontrolling interests
(5.6)
(4.2)
Proceeds from exercise of stock options and employee stock purchase plan
16.8
24.4
Payment of taxes related to settlement of equity awards
(15.4)
(13.2)
Debt issuance costs
(0.3)
—
Cash used in financing activities
(334.9)
(346.8)
Effect of foreign currency exchange rates on cash and cash equivalents
(2.1)
9.5
(Decrease) increase in cash and cash equivalents
(10.7)
19.1
Cash and cash equivalents, beginning of period
180.8
169.9
Cash and cash equivalents, end of period
$ 170.1
$ 189.0
Common Questions & Answers (Unaudited)
(Dollars in millions)
1. Can you provide a further analysis of operating revenue by operating segment?
Operating revenue consists of the following components:
(In millions)
Three Months Ended June 30,
Local
Currency
Organic
Local
Currency
Operating revenue:
2026
2025
$ Change
% Change
% Change (1)
% Change (2)
Verification Services
$ 607.6
$ 567.1
$ 40.5
7 %
7 %
Employer Services
97.8
95.0
2.8
3 %
3 %
Total Workforce Solutions
705.4
662.1
43.3
7 %
6 %
Online Information Solutions
545.4
457.8
87.6
19 %
19 %
Financial Marketing Services
66.2
63.7
2.5
4 %
4 %
Total U.S. Information Solutions
611.6
521.5
90.1
17 %
17 %
Latin America
109.0
99.6
9.4
9 %
3 %
3 %
Europe
101.1
99.2
1.9
2 %
1 %
1 %
Asia Pacific
99.7
85.3
14.4
17 %
7 %
7 %
Canada
73.3
69.3
4.0
6 %
6 %
6 %
Total International
383.1
353.4
29.7
8 %
4 %
4 %
Total operating revenue
$ 1,700.1
$ 1,537.0
$ 163.1
11 %
10 %
9 %
(1)
Local currency revenue change is calculated by conforming 2026 results using 2025 exchange rates.
(2)
Organic local currency revenue growth is defined as local currency revenue growth, adjusted to reflect an increase in prior year Equifax revenue from the revenue of acquired companies in the prior year period. This adjustment is made for 12 months following the acquisition.
Reconciliations of Non-GAAP Financial Measures to the Comparable GAAP Financial Measures (Unaudited)
(Dollars in millions, except per share amounts)
A. Reconciliation of net income attributable to Equifax to adjusted net income attributable to Equifax and adjusted diluted EPS attributable to Equifax, defined as net income and EPS, respectively, each adjusted for acquisition-related amortization expense of certain acquired intangibles, accrual for legal and regulatory matters related to the 2017 cybersecurity incident, gain on sale of an equity investment, foreign currency impact of certain intercompany loans, acquisition-related costs other than acquisition amortization, income tax effect of stock awards recognized upon vesting or settlement, Argentina highly inflationary foreign currency adjustment, realignment of resources and other costs, antitrust litigation costs, accrual for a legal settlement and aggregated tax impact of these adjustments:
Three Months Ended June 30,
(In millions, except per share amounts)
2026
2025
$ Change
% Change
Net income attributable to Equifax
$ 183.9
$ 191.3
$ (7.4)
(4) %
Acquisition-related amortization expense of certain acquired intangibles (1)
61.2
62.5
(1.3)
(2) %
Accrual for legal and regulatory matters related to the 2017 cybersecurity incident (2)
0.4
0.4
—
— %
Gain on sale of equity investment (3)
—
(0.8)
0.8
nm
Foreign currency impact of certain intercompany loans (4)
—
(0.1)
0.1
nm
Acquisition-related costs other than acquisition amortization (5)
7.0
6.1
0.9
15 %
Income tax effects of stock awards that are recognized upon vesting or settlement (6)
—
(0.7)
0.7
nm
Argentina highly inflationary foreign currency adjustment (7)
0.6
1.3
(0.7)
(54) %
Realignment of resources and other costs (8)
—
4.6
(4.6)
nm
Antitrust litigation costs (9)
0.6
—
0.6
nm
Accrual for a legal settlement (10)
40.0
—
40.0
nm
Tax impact of adjustments (11)
(25.1)
(14.9)
(10.2)
68 %
Adjusted net income attributable to Equifax
$ 268.6
$ 249.7
$ 18.9
8 %
Adjusted diluted EPS attributable to Equifax
$ 2.25
$ 2.00
$ 0.25
13 %
Weighted-average shares used in computing diluted EPS
119.2
125.0
nm - not meaningful
(1)
During the second quarter of 2026, we recorded acquisition-related amortization expense of certain acquired intangibles of $61.2 million ($48.9 million, net of tax). We calculate this financial measure by excluding the impact of acquisition-related amortization expense and including a benefit to reflect the significant cash income tax savings resulting from the income tax deductibility of amortization for certain acquired intangibles. The $12.3 million of tax is comprised of $16.3 million of tax expense, net of $4.0 million of a cash income tax benefit. During the second quarter of 2025, we recorded acquisition-related amortization expense of certain acquired intangibles of $62.5 million ($50.0 million, net of tax). The $12.5 million of tax is comprised of $16.6 million of tax expense, net of $4.1 million of a cash income tax benefit. See the Notes to this reconciliation for additional detail.
(2)
During the second quarter of 2026 and 2025, we recorded an accrual for legal and regulatory matters related to the 2017 cybersecurity incident of $0.4 million. See the Notes to this reconciliation for additional detail.
(3)
During the second quarter of 2025, we recorded a gain on sale of an equity investment of $0.8 million ($0.4 million), net of tax). The impact was recorded to the Other income, net line item within the Consolidated Statements of Income. See the Notes to this reconciliation for additional details.
(4)
During the second quarter of 2025, we recorded a foreign currency gain of $0.1 million on certain intercompany loans. The impact was recorded to the Other income, net line item within the Consolidated Statements of Income. See the Notes to this reconciliation for additional detail.
(5)
During the second quarter of 2026 and 2025, we recorded $7.0 million ($4.1 million, net of tax) and $6.1 million ($4.4 million, net of tax), respectively, for acquisition-related costs other than acquisition amortization. These costs primarily related to integration costs resulting from recent acquisition activity and were recorded in operating income. See the Notes to this reconciliation for additional detail.
(6)
During the second quarter of 2025, we recorded a tax benefit of $0.7 million related to the tax effects of deductions for stock compensation in excess of amounts recorded for compensation costs. See the Notes to this reconciliation for additional detail.
(7)
Argentina experienced multiple periods of increasing inflation rates, devaluation of the peso, and increasing borrowing rates. As such, Argentina was deemed a highly inflationary economy by accounting policymakers. During the second quarter of 2026 and 2025, we recorded a foreign currency loss of $0.6 million and $1.3 million, respectively, related to the impact of remeasuring the peso denominated monetary assets and liabilities as a result of Argentina being a highly inflationary economy. See the Notes to this reconciliation for additional detail.
(8)
During the second quarter of 2025, we recorded $4.6 million ($3.5 million, net of tax) of restructuring charges related to contract terminations, which relate to our efforts to complete our cloud technology transformation. See the Notes to this reconciliation for additional detail.
(9)
During the second quarter of 2026, we recorded costs related to antitrust litigation pertaining to our Workforce Solutions business unit in the amount of $0.6 million ($0.5 million, net of tax). See the Notes to this reconciliation for additional detail.
(10)
During the second quarter of 2026, we recorded an accrual of $100.0 million, which net of expected insurance proceeds of $60.0 million, resulted in a charge of $40.0 million ($30.2 million, net of tax), for a legal settlement associated with the resolution of claims related to a previously-disclosed coding issue. See the Notes to this reconciliation for additional detail.
(11)
During the second quarter of 2026, we recorded the tax impact of adjustments of $25.1 million comprised of (i) acquisition-related amortization expense of certain acquired intangibles of $12.3 million ($16.3 million of tax expense, net of $4.0 million of cash income tax benefit), (ii) a tax adjustment of $2.9 million related to acquisition-related costs other than acquisition amortization, (iii) a tax adjustment of $0.1 million related to antitrust litigation costs and (iv) a tax adjustment of $9.8 million related to an accrual for a legal settlement.
During the second quarter of 2025, we recorded the tax impact of adjustments of $14.9 million comprised of (i) acquisition-related amortization expense of certain acquired intangibles of $12.5 million ($16.6 million of tax expense, net of $4.1 million of cash income tax benefit), (ii) a tax adjustment of $0.4 million related to the gain on sale of an equity investments, (iii) a tax adjustment of $1.7 million related to acquisition-related costs other than acquisition amortization, and (iv) a tax adjustment of $1.1 million related to restructuring charges.
B. Reconciliation of net income attributable to Equifax to adjusted EBITDA, defined as net income excluding income taxes, interest expense, net, depreciation and amortization expense, accrual for legal and regulatory matters related to the 2017 cybersecurity incident, gain on sale of an equity investment, foreign currency impact of certain intercompany loans, acquisition-related costs other than acquisition amortization, Argentina highly inflationary foreign currency adjustment, realignment of resources and other costs, antitrust litigation costs, accrual for a legal settlement and presentation of adjusted EBITDA margin:
Three Months Ended June 30,
(In millions)
2026
2025
$ Change
% Change
Revenue
$ 1,700.1
$ 1,537.0
$ 163.1
11 %
Net income attributable to Equifax
$ 183.9
$ 191.3
$ (7.4)
(4) %
Income taxes
71.8
68.7
3.1
5 %
Interest expense, net*
58.1
50.4
7.7
15 %
Depreciation and amortization
189.7
177.4
12.3
7 %
Accrual for legal and regulatory matters related to 2017 cybersecurity incident (1)
0.4
0.4
—
— %
Gain on sale of equity investment (2)
—
(0.8)
0.8
nm
Foreign currency impact of certain intercompany loans (3)
—
(0.1)
0.1
nm
Acquisition-related costs other than acquisition amortization (4)
7.0
6.1
0.9
15 %
Argentina highly inflationary foreign currency adjustment (5)
0.6
1.3
(0.7)
(54) %
Realignment of resources and other costs (6)
—
4.6
(4.6)
nm
Antitrust litigation costs (7)
0.6
—
0.6
nm
Accrual for a legal settlement (8)
40.0
—
40.0
nm
Adjusted EBITDA, excluding the items listed above
$ 552.1
$ 499.3
$ 52.8
11 %
Adjusted EBITDA margin
32.5 %
32.5 %
nm - not meaningful
*Excludes interest income of $1.7 million in the second quarter of 2026 and $2.7 million in the second quarter of 2025.
(1)
During the second quarter of 2026 and 2025, we recorded an accrual for legal and regulatory matters related to the 2017 cybersecurity incident of $0.4 million. See the Notes to this reconciliation for additional detail.
(2)
During the second quarter of 2025, we recorded a gain on sale of an equity investment of $0.8 million ($0.4 million), net of tax). The impact was recorded to the Other income, net line item within the Consolidated Statements of Income. See the Notes to this reconciliation for additional details.
(3)
During the second quarter of 2025, we recorded a foreign currency gain of $0.1 million on certain intercompany loans. The impact was recorded to the Other income, net line item within the Consolidated Statements of Income. See the Notes to this reconciliation for additional detail.
(4)
During the second quarter of 2026 and 2025, we recorded $7.0 million ($4.1 million, net of tax) and $6.1 million ($4.4 million, net of tax), respectively, for acquisition-related costs other than acquisition amortization. These costs primarily related to integration costs resulting from recent acquisition activity and were recorded in operating income. See the Notes to this reconciliation for additional detail.
(5)
Argentina experienced multiple periods of increasing inflation rates, devaluation of the peso, and increasing borrowing rates. As such, Argentina was deemed a highly inflationary economy by accounting policymakers. During the second quarter of 2026 and 2025, we recorded a foreign currency loss of $0.6 million and $1.3 million, respectively, related to the impact of remeasuring the peso denominated monetary assets and liabilities as a result of Argentina being a highly inflationary economy. See the Notes to this reconciliation for additional detail.
(6)
During the second quarter of 2025, we recorded $4.6 million ($3.5 million, net of tax) of restructuring charges related to contract terminations, which relate to our efforts to complete our cloud technology transformation. See the Notes to this reconciliation for additional detail.
(7)
During the second quarter of 2026, we recorded costs related to antitrust litigation pertaining to our Workforce Solutions business unit in the amount of $0.6 million ($0.5 million net of tax). See the Notes to this reconciliation for additional detail.
(8)
During the second quarter of 2026, we recorded an accrual of $100.0 million, which, net of expected insurance proceeds of $60.0 million, resulted in a charge of $40.0 million ($30.2 million, net of tax), for a legal settlement associated with the resolution of claims related to a previously-disclosed coding issue. See the Notes to this reconciliation for additional detail.
C. Reconciliation of operating income by segment to Adjusted EBITDA, excluding depreciation and amortization expense, other income, net, noncontrolling interest, accrual for legal and regulatory matters related to the 2017 cybersecurity incident, gain on sale of an equity investment, foreign currency impact of certain intercompany loans, acquisition-related costs other than acquisition amortization, Argentina highly inflationary foreign currency adjustment, realignment of resources and other costs, antitrust litigation costs, accrual for a legal settlement and presentation of adjusted EBITDA margin for each of the segments:
(In millions)
Three Months Ended June 30, 2026
Workforce
Solutions
U.S.
Information
Solutions
International
General
Corporate
Expense
Total
Revenue
$ 705.4
$ 611.6
$ 383.1
—
$ 1,700.1
Operating income
316.7
137.8
46.3
(186.6)
314.2
Depreciation and amortization
49.6
61.9
53.5
24.7
189.7
Other income (expense), net*
—
0.5
1.5
(1.2)
0.8
Noncontrolling interest
—
—
(1.2)
—
(1.2)
Adjustments (1)
1.2
0.2
5.8
41.4
48.6
Adjusted EBITDA
$ 367.5
$ 200.4
$ 105.9
$ (121.7)
$ 552.1
Operating margin
44.9 %
22.5 %
12.1 %
nm
18.5 %
Adjusted EBITDA margin
52.1 %
32.8 %
27.6 %
nm
32.5 %
nm - not meaningful
*Excludes interest income of $1.1 million in International and $0.6 million in General Corporate Expense.
(In millions)
Three Months Ended June 30, 2025
Workforce
Solutions
U.S.
Information
Solutions
International
General
Corporate
Expense
Total
Revenue
$ 662.1
$ 521.5
$ 353.4
—
$ 1,537.0
Operating income
307.3
118.0
38.6
(153.1)
310.8
Depreciation and amortization
44.8
62.8
46.1
23.7
177.4
Other (expense) income, net*
(0.1)
0.7
1.4
(1.1)
0.9
Noncontrolling interest
—
—
(1.3)
—
(1.3)
Adjustments (1)
1.1
0.9
8.6
0.9
11.5
Adjusted EBITDA
$ 353.1
$ 182.4
$ 93.4
$ (129.6)
$ 499.3
Operating margin
46.4 %
22.6 %
10.9 %
nm
20.2 %
Adjusted EBITDA margin
53.3 %
35.0 %
26.4 %
nm
32.5 %
nm - not meaningful
*Excludes interest income of $2.3 million in International and $0.4 million in General Corporate Expense.
(1)
During the second quarter of 2026, we recorded pre-tax expenses of $0.4 million for an accrual for legal and regulatory matters related to the 2017 cybersecurity incident, $7.0 million for acquisition-related costs other than acquisition amortization, $0.6 million for a foreign currency loss related to the impact of remeasuring the peso denominated monetary assets and liabilities as a result of Argentina being a highly inflationary economy, $0.6 million of antitrust litigation costs, and $40.0 million for an accrual for a legal settlement, net of expected insurance proceeds.
During the second quarter of 2025, we recorded pre-tax expenses of $0.4 million for an accrual for legal and regulatory matters related to the 2017 cybersecurity incident, an $0.8 million gain on sale of an equity investment, a $0.1 million foreign currency gain on certain intercompany loans, $6.1 million for acquisition-related costs other than acquisition amortization, a foreign currency loss of $1.3 million related to the impact of remeasuring the peso denominated monetary assets and liabilities as a result of Argentina being a highly inflationary economy, and $4.6 million of restructuring charges for the realignment of resources and other costs.
Notes to Reconciliations of Non-GAAP Financial Measures to the Comparable GAAP Financial Measures
Diluted EPS attributable to Equifax is adjusted for the following items:
Acquisition-related amortization expense - During the second quarter of 2026 and 2025, we recorded acquisition-related amortization expense of certain acquired intangibles of $61.2 million ($48.9 million, net of tax) and $62.5 million ($50.0 million, net of tax), respectively. We calculate this financial measure by excluding the impact of acquisition-related amortization expense and including a benefit to reflect the material cash income tax savings resulting from the income tax deductibility of amortization for certain acquired intangibles. These financial measures are not prepared in conformity with GAAP. Management believes excluding the impact of amortization expense is useful because excluding acquisition-related amortization, and other items that are not comparable, allows investors to evaluate our performance for different periods on a more comparable basis. Certain acquired intangibles result in material cash income tax savings which are not reflected in earnings. Management believes that including a benefit to reflect the cash income tax savings is useful as it allows investors to better value Equifax. Management makes these adjustments to earnings when measuring profitability, evaluating performance trends, setting performance objectives and calculating our return on invested capital.
Accrual for legal and regulatory matters related to the 2017 cybersecurity incident - Accrual for legal and regulatory matters related to the 2017 cybersecurity incident includes legal fees to respond to subsequent litigation and government investigations for both periods presented. During the second quarter of 2026 and 2025, we recorded an accrual for legal and regulatory matters related to the 2017 cybersecurity incident of $0.4 million. Management believes excluding these charges is useful as it allows investors to evaluate our performance for different periods on a more comparable basis. Management makes these adjustments to net income when measuring profitability, evaluating performance trends, setting performance objectives and calculating our return on invested capital. This is consistent with how management reviews and assesses Equifax's historical performance and is useful when planning, forecasting and analyzing future periods.
Gain on sale of equity investment - During the second quarter of 2025 we recorded a gain on sale of an equity investment of $0.8 million ($0.4 million, net of tax). Management believes excluding this charge from certain financial results provides meaningful supplemental information regarding our financial results for the three months ended June 30, 2025, since the non-operating gain is not comparable among the periods. This is consistent with how our management reviews and assesses Equifax's historical performance and is useful when planning, forecasting and analyzing future periods.
Foreign currency impact of certain intercompany loans - During the second quarter of 2025, we recorded a gain of $0.1 million related to foreign currency impact of certain intercompany loans. Management believes excluding this charge is useful as it allows investors to evaluate our performance for different periods on a more comparable basis. This is consistent with how management reviews and assesses Equifax's historical performance and is useful when planning, forecasting and analyzing future periods.
Acquisition-related costs other than acquisition amortization - During the second quarter of 2026 and 2025, we recorded $7.0 million ($4.1 million, net of tax) and $6.1 million ($4.4 million, net of tax), respectively, for acquisition-related costs other than acquisition amortization. These costs primarily related to transaction and integration costs resulting from recent acquisitions and were recorded in operating income. Management believes excluding this charge from certain financial results provides meaningful supplemental information regarding our financial results, since a charge of such an amount is not comparable among the periods. This is consistent with how our management reviews and assesses Equifax's historical performance and is useful when planning, forecasting, and analyzing future periods.
Income tax effects of stock awards that are recognized upon vesting or settlement - During the second quarter of 2025, we recorded a tax benefit of $0.7 million related to the tax effects of deductions for stock compensation in excess of amounts recorded for compensation costs. Management believes excluding this tax effect from financial results provides meaningful supplemental information regarding our financial results for the three months ended June 30, 2025 because these amounts are non-operating and relate to income tax benefits or deficiencies for stock awards recognized when tax amounts differ from recognized stock compensation cost. This is consistent with how management reviews and assesses Equifax's historical performance and is useful when planning, forecasting and analyzing future periods.
Argentina highly inflationary foreign currency adjustment - Argentina experienced multiple periods of increasing inflation rates, devaluation of the peso, and increasing borrowing rates. As such, Argentina was deemed a highly inflationary economy by accounting policymakers. We recorded a foreign currency loss of $0.6 million and $1.3 million during the second quarter of 2026 and 2025, respectively, as a result of remeasuring the peso denominated monetary assets and liabilities due to Argentina being highly inflationary. Management believes excluding this charge is useful as it allows investors to evaluate our performance for different periods on a more comparable basis. This is consistent with how management reviews and assesses Equifax's historical performance and is useful when planning, forecasting and analyzing future periods.
Charge related to the realignment of resources and other costs - During the second quarter of 2025, we recorded $4.6 million ($3.5 million, net of tax) of restructuring charges related to contract terminations, which relate to our efforts to complete our cloud technology transformation. Management believes excluding these charges from certain financial results provides meaningful supplemental information regarding our financial results since a charge of such an amount is not comparable among the periods. This is consistent with how our management reviews and assesses Equifax's historical performance and is useful when planning, forecasting and analyzing future periods.
Antitrust litigation costs - Antitrust litigation costs include legal fees to respond to antitrust litigation pertaining to our Workforce Solutions business unit. During the second quarter of 2026, we recorded costs related to antitrust litigation pertaining to our Workforce Solutions business unit in the amount of $0.6 million ($0.5 million, net of tax). Management believes excluding these charges is useful as it allows investors to evaluate our performance for different periods on a more comparable basis, as these legal matters are outside of the normal course of Equifax's continuing business operations. Management makes these adjustments to net income when measuring profitability, evaluating performance trends, setting performance objectives and calculating our return on invested capital. This is consistent with how management reviews and assesses Equifax's historical performance and is useful when planning, forecasting and analyzing future periods.
Accrual for a legal settlement - During the second quarter of 2026, we recorded an accrual of $100.0 million, which net of expected insurance proceeds of $60.0 million, resulted in a charge of $40.0 million ($30.2 million, net of tax) for a legal settlement associated with the resolution of claims related to a previously-disclosed coding issue, which represents our best estimate of the liability related to settlement of this matter. Management believes excluding this charge from certain financial results provides meaningful supplemental information regarding our financial results for the three months ended June 30, 2026, because a charge of such an amount is not comparable among the periods. This is consistent with how our management reviews and assesses Equifax's historical performance and is useful when planning, forecasting and analyzing future periods.
Adjusted EBITDA and EBITDA margin - Management defines adjusted EBITDA as consolidated net income attributable to Equifax plus net interest expense, income taxes, depreciation and amortization, and also excludes certain one-time items. Management believes the use of adjusted EBITDA and adjusted EBITDA margin allows investors to evaluate our performance for different periods on a more comparable basis.
A logo on the exterior of a Stellantis office building in Poissy, near Paris, France, May 4, 2026. REUTERS/Benoit Tessier Purchase Licensing Rights, opens new tab
CompaniesJuly 21 (Reuters) - Mobileye Global (MBLY.O), opens new tab will supply Stellantis with cloud-driven advanced driver-assistance technology, the Israeli company said on Tuesday, as automakers race to meet rising demand for connected safety systems.
The ADAS hardware maker's shares were up about 6% in premarket trading.
Stay up to date with the latest news, trends and innovations that are driving the global automotive industry with the Reuters Auto File newsletter. Sign up here.
The companies said select models from Stellantis, the parent of Jeep and Chrysler, will integrate Mobileye's Road Experience Management technology from 2027, using crowdsourced road data to improve lane keeping and hands-free driving.
ADAS has become one of the auto industry's fastest-growing technologies as carmakers race to offer increasingly sophisticated safety and convenience features and generate higher-margin software revenue.
The technology is widely seen as a step toward fully autonomous driving, though regulators still require drivers to remain attentive when using hands-free systems.
The first applications are expected in select U.S. Stellantis models next year, with wider rollout subject to vehicle platform and configuration.
Stellantis will be the fifth of the world's 10 largest automakers to contribute data to Mobileye's REM platform, which covers more than 95% of public roads in the United States and Europe. More than 8 million vehicles logged 34 billion miles of data on the platform last year, Mobileye said.
Jerusalem-based Mobileye's system collects road data through front-facing cameras in EyeQ-equipped vehicles and combines it with cloud-based mapping intelligence. That allows vehicles to receive real-time updates on lane markings, road layouts and construction zones.
Reporting by Akash Sriram in Bengaluru; Editing by Tasim Zahid
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Novo Nordisk v USA žaluje Eli Lilly kvůli reklamám na Zepbound a Mounjaro, které podle něj zkreslují účinnost Wegovy a Ozempic. Firma chce zákaz šíření spotů a opravu tvrzení.
Novo Nordisk podal ve Spojených státech žalobu na svého hlavního konkurenta Eli Lilly. Dánská firma tvrdí, že reklamní kampaně propagující přípravky Zepbound a Mounjaro uvádějí spotřebitele v omyl tím, že prezentují neúplné a zastaralé údaje o účinnosti konkurenčních léků Wegovy a Ozempic od Novo Nordisku. Informoval o tom server CNBC.
Zastaralé klinické studie ohledně porovnání nejvyšších dávek léků Lilly s nižšími dávkami léků Novo „vedou k nevyhnutelnému závěru, že léky Lilly jsou lepší než léky od Novo, a to není přesné“, sdělil CNBC John Kuckelman, hlavní právní zástupce skupiny Novo, jež tvrdí, že takové srovnání neodráží současný stav trhu a dostupných klinických dat.
Novo Nordisk v žalobě požaduje, aby soud Eli Lilly zakázal další šíření sporných reklam a zároveň nařídil zveřejnění opravných sdělení. Kromě toho se firma domáhá finanční náhrady škody, jejíž výše zatím nebyla specifikována.
Dánská společnost prý zaslala svému konkurentovi formální výzvu k ukončení reklamních kampaní už v dubnu, avšak bez výsledku. Pokud Lilly reklamy nestáhne dobrovolně, chce Novo v následujících dnech usilovat také o předběžné opatření, které by jejich vysílání zastavilo ještě před konečným rozhodnutím soudu.
Dánské firmě vadí zejména to, že reklamy konkurenta nezohledňují nově schválenou vysokodávkovou variantu léku Wegovy, která byla uvedena na trh letos na jaře. Podle Novo právě tato verze přináší výsledky v redukci hmotnosti, které jsou mnohem bližší účinkům Zepbound od Lilly.
„Reklamní sdělení vedou spotřebitele k závěru, že přípravky Eli Lilly jsou jednoznačně účinnější než naše léky. Domníváme se, že takový závěr není podložen aktuálními důkazy,“ stojí v žalobě.
V té je konkrétně zmíněna televizní reklama, která přímo srovnává Zepbound a Wegovy. Ve spotu zaznívá, že pacienti užívající Zepbound ztrácejí v průměru přibližně 50 liber (22,7 kg) tělesné hmotnosti, zatímco u Wegovy to je zhruba 33 liber (15 kg). Tato čísla vycházejí z klinického srovnání nejvyšších dávek přípravku Zepbound s dávkami Wegovy 1,7 mg a 2,4 mg.
Podle Novo Nordisk však novější studie ukazují, že vyšší dávka Wegovy 7,2 mg vede v průměru k úbytku hmotnosti okolo 47 liber (21,3 kg), což se podle firmy pohybuje na srovnatelné úrovni s nejnovějšími výsledky dosahovanými přípravkem Zepbound.
Dánský výrobce zároveň tvrdí, že existence této vyšší dávky je v reklamních materiálech zmíněna pouze v obtížně čitelné poznámce pod čarou, která podle něj spotřebitelům neposkytuje dostatečné informace o aktuální účinnosti léčby, píše CNBC.
Přímá studie neexistuje
Dalším argumentem Novo Nordisku je skutečnost, že dosud nebyla provedena přímá klinická studie, která by porovnávala nejvyšší komerčně dostupné dávky Wegovy a Zepbound. Podle žaloby proto Eli Lilly nemá dostatečný základ pro kategorická tvrzení o nadřazenosti svého přípravku.
„I když to bylo možné říci předtím, než byl Wegovy dostupný i v dávce 7,2 miligramu, tak dnes už to není přesné. Myslíme si, že mají právní povinnost, ale ještě důležitější je, že mají povinnost vůči pacientům sdílet přesné informace,“ dodal Kuckelman.
Garmin představil CIRQA Smart Band, svůj první bezdisplejový chytrý náramek s nepřetržitým sledováním zdraví a kondice bez předplatného. Má výdrž až 10 dní a stojí 199,99 USD.
Distraction-free design provides comprehensive 24/7 health monitoring and activity tracking—no subscription required
, /PRNewswire/ -- Garmin (NYSE: GRMN) today announced CIRQA™ Smart Band, its first screen-free smart band that tracks advanced fitness and wellness features—all without the need for a subscription. Designed to help users make improvements toward a healthier lifestyle without commanding all their attention, this smart band gets up to 10 days of battery life and provides around-the-clock health and fitness monitoring with data that can instantly be accessed through the Garmin Connect™ app.
CIRQA Smart Band is Garmin's first screenless smart band that provides comprehensive 24/7 health monitoring and activity tracking - no subscription required. "We purposefully created CIRQA Smart Band for those who are passionate about staying healthy and active. With its discreet design and trusted health and fitness tracking tools Garmin is known for, this smart band complements our lineup of popular smartwatches and wellness monitors, allowing users to transition smoothly between their Garmin devices throughout the day. Plus, with no subscription required, CIRQA Smart Band helps you stay on top of your health and fitness goals—and makes a thoughtful gift for others who want to do the same."
—Susan Lyman, Garmin Vice President of Consumer Sales and Marketing
Comfortable and distraction-free
Inconspicuous design helps minimize distractions while tracking important health and performance metrics. Automatically detect and record a variety of activities, even without a screen. The activities can be viewed and edited afterwards in Garmin Connect and, as users confirm or edit their activities, the smart band will adapt to more accurately classify them in the future. Fabric band provides maximum comfort for all-day wear and is available in both fun and neutral colors like Citron Gray, Mauve, French Gray, Dark Olive, Captain Blue, French Blue and Black. Can be worn around the wrist or as an arm band based on activity or sleeping preferences. Health monitoring
When worn day and night, CIRQA Smart Band helps provide a more complete picture of overall health1. Users can track metrics like wrist-based heart rate, Body Battery™ energy monitoring, Pulse Ox2, stress, skin temperature and more and immediately see their data in Garmin Connect. Women can also track their menstrual cycle and pregnancy, get better period predictions and past ovulation estimates by tracking skin temperature while sleeping3 and sync their data with the FDA-cleared Natural Cyclesº birth control app4 (Natural Cycles subscription required).
Comfortable without compromise, CIRQA Smart Band can help users log a better night's sleep and understand how well they've recovered. This smart band provides comprehensive sleep data, including a detailed breakdown of sleep stages, a sleep score, guidance on optimal sleep duration, heart rate variability, respiration and nap detection—all readily available within the Garmin Connect app.
Fitness tracking
In addition to tracking daily steps, calories burned and more, CIRQA Smart Band includes popular fitness features to help users make the most of their workouts.
Manual activity tracking: Track more than 80 different activities – including running, walking, yoga and more – or select a favorite activity to track by simply tapping the single side button. Advanced training metrics: Dial in with performance features like training readiness to know whether it's a good day to go hard or take it easy and track progress with HRV status, VO2 max and training status to get insights into training effectiveness. Workout benefit and recovery time: Better understand how each workout affects the body and how much time is needed to recover. Connected GPS: Connect to a compatible iPhone® or Android™ smartphone's GPS to accurately track outdoor walks, rides and runs. LiveTrack location sharing: Let friends and family follow along in real-time when using a smartphone and the Garmin Connect app. Available now, CIRQA Smart Band has a suggested retail price of $199.99.
Engineered on the inside for life on the outside, Garmin products have revolutionized the aviation, automotive, fitness, marine and outdoor markets. Dedicated to helping people make the most of the time they spend pursuing their passions, Garmin believes every day is an opportunity to innovate and a chance to beat yesterday. Visit the Garmin Newsroom, email our media team, connect with @garmin on social, or follow our blog.
1 Activity tracking accuracy.
2 This is not a medical device and is not intended for use in the diagnosis or monitoring of any medical condition; see Garmin.com/ataccuracy. Pulse Ox not available in all countries.
3 This feature is not intended to support conception, contraception or birth control. This is not a medical device and is not intended for diagnosing or monitoring any medical condition. See Garmin.com/ataccuracy.
4 Compatible Garmin smartwatches are consumer wellness devices and are not medical devices intended to diagnose, treat, prevent or monitor medical conditions. The Natural Cycles app independently determines fertility status based on skin temperature and other data when worn on the wrist.
About Garmin International, Inc. Garmin International, Inc. is a subsidiary of Garmin Ltd. (NYSE: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin is a registered trademark and CIRQA, Garmin Connect, Body Battery and Garmin Active Intelligence are trademarks of Garmin Ltd. or its subsidiaries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved. iPhone is a trademark of Apple Inc., registered in the U.S. and other countries. Android is a trademark of Google LLC.
Notice on Forward-Looking Statements:
This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management's current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 27, 2025, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). Copies of such Form 10-K are available at https://www.garmin.com/en-US/investors/sec/. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
MEDIA CONTACTS: Stephanie Kelner, Natalie Miller and Adrieanna Norse / 913-397-8200 / [email protected]
Comstock Metals uzavřel s Illuminate USA dohodu o recyklaci materiálů ze solární výroby. Smlouva pokrývá přepravu, třídění i ekologickou recyklaci vedlejších produktů z výroby panelů.
SILVER SPRINGS, Nev., July 21, 2026 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE American: LODE) (“Comstock” and the “Company”), and Comstock Metals LLC a leader in the responsible, zero-landfill recycling of end-of-life solar panels with the first certified North American operations announced today that it has entered into a Solar Material Recycling Services Agreement with Illuminate USA LLC.
Under the new agreement, Comstock Metals will provide comprehensive recycling services for solar panel materials from Illuminate USA’s advanced manufacturing operations in Pataskala, Ohio. The services include safe transportation, sorting, and environmentally responsible recycling for a broad range of solar panel manufacturing byproducts. Illuminate USA operates the largest single-site solar panel manufacturing facility in North America.
“Our partnership with Illuminate USA is a testament to the industry’s growing commitment to circularity and stewardship,” said Dr. Fortunato Villamagna, President of Comstock Metals. “By providing a zero-landfill solution for solar panel manufacturing byproducts, we are helping Illuminate USA ensure that all materials are safely repurposed into new industrial goods, eliminating all downstream liability, and giving their team peace of mind knowing all materials are responsibly recycled. This is a major step toward enabling and aligning a truly systemic solar energy ecosystem.”
Comstock operates a growing, strategically positioned national recycling network, including Central Ohio, to serve customers throughout the broader Midwest, one of the larger and most centrally located solar markets in the country.
The agreement further positions Comstock Metals and Illuminate USA as leaders in the solar panel recycling and advanced manufacturing industries, respectively. The two companies will work together over the next few years to responsibly recycle various material streams.
Illuminate USA operates a state-of-the-art facility in Ohio producing advanced technology solar panels for a wide range of applications. The company is dedicated to delivering advanced and efficient solar panels while building sustainable systems into its operations.
“Our new partnership with Comstock Metals strengthens our commitment to environmental responsibility,” said Bryan Kresak, Illuminate’s Vice President of Environmental, Health, Safety and Facilities. “Together, we are taking these important steps to ensure that our operations reflect our deeply held values and advance sustainable practices across the industry.”
The partnership marks a significant step in Comstock Metals’ and Illuminate USA’s strategy to expand their roles in enabling a clean supply chain for solar energy production at each stage of the life cycle.
About Illuminate USA
Illuminate USA is a leading U.S.-based solar panel manufacturer focused on innovation, quality, and domestic production. Headquartered in Pataskala, Ohio. Illuminate USA operates a state-of-the-art, 1.1 million square foot facility that uses advanced and efficient technology to produce solar panels for a variety of applications. The company began production in February 2024 and has produced more than 15 million solar panels. With a workforce of over 1,600 skilled professionals and a five-gigawatt annual capacity, Illuminate USA is dedicated to delivering reliable, high-quality products that power communities. For more information, visit us online at IlluminateUSA.com.
About Comstock Metals
Comstock Metals is a leading, Nevada-based, zero-landfill recycling solution that specializes in the environmentally responsible recycling of solar panels and related renewable energy infrastructure and equipment. Comstock’s unique processes, ongoing material innovations, and sustainable practices differentiates its recycling leadership and strengthens the supply chain of domestically manufactured electrification products. www.comstockmetals.com
About Comstock Inc.
Comstock Inc. (NYSE: LODE) innovates and commercializes technologies, systems and supply chains that enable, support and sustain clean energy systems by efficiently, effectively, and expediently extracting and converting under-utilized natural resources into reusable metals, like silver, aluminum, gold, and other critical minerals, primarily from end-of-life photovoltaics and renewable fuels and other forms of energy.
To learn more, please visit www.comstock.inc.
Comstock Social Media Policy
Comstock Inc. has used, and intends to continue using, its investor relations link and main website at www.comstock.inc in addition to its X.com, LinkedIn and YouTube accounts, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
Contacts
For investor inquiries:
Judd B. Merrill, Chief Financial Officer
Tel (775) 413-6222 [email protected]
For media inquiries:
Zach Spencer, Director of External Relations
Tel (775) 847-7573 [email protected]
Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “forecast,” “seek,” “target,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future market conditions; future financial, natural, and social gains; future prices and sales of, and demand for, our products and services; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land and asset sales; investments, acquisitions, joint ventures, strategic alliances and business combinations; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings of equity or debt securities; and future working capital needs, revenues, variable costs, throughput rates, operating expenses, debt levels, cash flows, margins, taxes and earnings. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company or any other issuer.
Six weeks ago, Elon Musk's artificial intelligence (AI) and space infrastructure conglomerate, Space Exploration Technologies (SpaceX) (SPCX 3.20%), was the talk of Wall Street.
On June 12, SpaceX raised $85.7 billion from its initial public offering (IPO), including the underwriters' overallotment. This nearly tripled the previous largest-ever IPO capital raise of $29.4 billion from overseas oil giant Saudi Aramco.
Image source: Getty Images.
But IPO buzz fades quickly on Wall Street, and reality can hit even the most-hyped stocks like a ton of bricks. Since peaking at $225.64 per share intra-day on June 16, SpaceX stock has plunged 45% to less than $124 per share (as of the July 17 close).
Some investors will undoubtedly see a bargain, given Elon Musk's track record at Tesla and SpaceX's opportunity amid the two hottest trends on Wall Street: AI and the space economy. I see far more pain to come for shareholders as historical precedent takes hold.
The accelerated unlock period is quickly approaching For starters, SpaceX's insiders (high-ranking executives, board members, and early investors) are set to enjoy the greatest wealth transfer in history. In a matter of weeks, most insiders will be able to sell a portion of their shares to retail investors.
Whereas most newly public companies adhere to a 180-day lockup period, in which insiders can't sell their shares, SpaceX offers a staggered and accelerated unlock schedule that begins two days after the company's first quarterly operating report as a public company. SpaceX is currently estimated to report its latest quarterly operating results on Aug. 6.
Great look at the SpaceX shares unlock schedule as well as the potential passive buying schedule from @JSeyff @FrancisSharoon Depending on the early post-IPO returns, this could really play with and disperse the returns of "passive" funds (which is why there's arguably no such... pic.twitter.com/KOuEkJlngF
-- Eric Balchunas (@EricBalchunas) May 28, 2026 The company's float is set to grow every few weeks through mid-December, adding downside pressure on SpaceX stock.
Historically, SpaceX's valuation is a nightmare Although it's not uncommon for investors to place high premiums on companies at the forefront of game-changing technologies, SpaceX's valuation is historical nightmare fuel.
No company heralding the charge of a leading innovation has ever sustained a price-to-sales ratio above 30 for any lengthy period. SpaceX is currently trading at 42 times Wall Street's consensus sales estimate for this year. In other words, Musk's company would need to fall nearly 30% more from its current level just to push below historic bubble territory.
Furthermore, the company isn't particularly close to recurring profits, and its capital-intensive operating model leaves virtually no margin for error or delays.
Image source: Getty Images.
Debt and equity offerings are coming To round things out, SpaceX's prospectus made clear that, in addition to its IPO capital raise, debt and equity offerings would be used to fund the company's AI infrastructure expansion, among other corporate initiatives.
Less than two weeks after going public, the company priced a $25 billion bond offering, with maturities from 2031 to 2056. The price of these bonds has been falling steadily since issuance, signifying concern from bondholders that SpaceX may be unable to meet its obligations.
Additionally, equity offerings would be dilutive to existing shareholders. Given that SpaceX is spending a small fortune on its AI data center build-out, capital-raising activity that weighs on the company's shares is a near-certainty.
Tesla má ve středu oznámit první čtvrtletní odliv hotovosti za více než dva roky, protože výdaje na AI a robotiku prudce rostou. Investoři sledují, kdy se sázky na robotaxi a Optimus začnou vyplácet.
Item 1 of 2 A Tesla Cybercab is displayed at the Los Angeles Auto Show, in Los Angeles, California, U.S., November 21, 2024. REUTERS/Daniel Cole
[1/2]A Tesla Cybercab is displayed at the Los Angeles Auto Show, in Los Angeles, California, U.S., November 21, 2024. REUTERS/Daniel Cole Purchase Licensing Rights, opens new tab
SummaryCompaniesHeavy outlays target AI infrastructure, robotaxis and OptimusBarclays says stronger vehicle operations can help finance AI-related expendituresQuarterly update may show first cash burn in over two yearsJuly 21 (Reuters) - Tesla (TSLA.O), opens new tab is expected to report its first quarterly cash burn in over two years on Wednesday, as its spending on AI and robotics soars, intensifying investor scrutiny over when those bets will pay off.
CEO Elon Musk has pivoted the electric-vehicle maker's focus from manufacturing cars to building so-called physical AI businesses such as self-driving taxis and humanoid robots. Much of Tesla's valuation hangs on that promise.
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However, investors are growing increasingly uneasy as spending on AI infrastructure, including data centers, and manufacturing capacity is projected to climb to $25 billion this year, outstripping quarterly cash generated by Tesla's core automotive and energy operations.
"As capex more than doubles and free cash flow turns negative, investors are increasingly focused on evidence that Tesla's spending is strengthening its physical AI moat," Morgan Stanley analysts wrote in a note.
Investors have been betting that Tesla's autonomous-driving technology and robotics ambitions could eventually unlock new, high-margin revenue streams. But progress has been slower than many analysts expected, and Musk has missed some self-imposed deadlines.
Soon after launching its robotaxi service in Austin, Texas, in April last year, Musk predicted Tesla robotaxis would serve half the U.S. population by the end of 2025. In January, Tesla said the service would expand to seven new cities in the first half of 2026. But its robotaxi network remains confined to Austin, Dallas, Houston in Texas, and Miami in Florida.
Ahead of Wednesday's earnings call, the most-voted question on Tesla's investor-relations site, submitted by a retail investor, was: "What is keeping Tesla back from accomplishing these short-term goals that they've set for themselves?"
Nine of the top 10 most-voted questions center around Tesla's AI-driven bets - robotaxis, Optimus humanoid robots and its Full Self-Driving technology.
"Why has growth of robotaxi vehicles stalled? When will we see Cybercab start customer rides?" asked another retail investor.
Tesla has said that it has started manufacturing its Cybercab vehicle, a tailor-made robotaxi without a steering wheel and pedals. However, the vehicles have not been deployed into a robotaxi network, with Musk saying that the production ramp would be "agonizingly slow."
AUTO BUSINESS REBOUNDSTesla delivered a record number of vehicles for the April-to-June period, far exceeding market estimates, as higher oil prices helped drive sales of EVs, especially in Europe.
Analysts expect Tesla to deliver 1.7 million vehicles in 2026, up 3.9% from last year, which would snap a two-year skid of declining annual deliveries.
Barclays analysts said investors remained focused on Tesla's AI ambitions, but a stronger automotive business would help generate the cash needed to finance those investments.
For the second quarter, however, the vehicle-sales rebound may not be enough to offset heavy spending. Tesla is expected to report negative free cash flow of $3.3 billion, according to LSEG data.
Analysts expect Tesla's second-quarter profit to come in at 50 cents per share, compared with 40 cents per share in the same period a year earlier.
However, Deutsche Bank analysts expect the elimination of upfront Full Self-Driving software purchases earlier this year and low interest-rate financing in May to hit profitability.
Wall Street expects automotive gross margin excluding regulatory credits of 18.1% in the second quarter, lower than 19.2% in the prior three-month period, according to Visible Alpha data.
Reporting by Akash Sriram in Bengaluru and Abhirup Roy in San Francisco; Editing by Mike Colias and Anil D'Silva
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Akash reports on technology companies in the United States, electric vehicle companies, and the space industry. His reporting usually appears in the Autos & Transportation and Technology sections. He has a postgraduate degree in Conflict, Development, and Security from the University of Leeds. Akash's interests include music, football (soccer), and Formula 1.
Abhirup Roy is a U.S. autos correspondent based in San Francisco, covering Tesla and the wider electric and autonomous vehicle industry. He previously reported from India on global corporations, capital markets regulation, white-collar crime, and corporate litigation. Contact him at (415) 941-8665 or connect securely via Signal on abhiruproy.10
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Speculation is growing among investors that Elon Musk will merge his rocket and EV companies. SERGIO FLORES/AFP via Getty Images Whispers that Elon Musk might combine Tesla and SpaceX are growing — and investors want answers.
Shareholders took to an online Tesla investor forum to submit questions for executives ahead of the company's second-quarter earnings and clamor for more details about a rumored merger with SpaceX.
"Will SpaceX merge with Tesla?" asked one retail investor, in a question representing around 100,000 Tesla shares. Others asked if investors would get a vote on any proposed merger and how executives would ensure that a tie-up treats Tesla investors fairly.
One retail investor asked how Musk would balance his compensation plan, which requires the Tesla CEO to hit a series of ambitious goals to unlock the full $1 trillion payout, with a SpaceX merger.
"To reward long-term Tesla retail shareholders for their loyalty, can you commit to achieving at least half of the goals outlined in your 2025 compensation plan before considering any offers to acquire or merge Tesla?" they wrote in a post that has received nearly 300 votes.
Musk's goals include passing 20 million EV sales, 10 million Full Self-Driving subscriptions, and deploying 1 million robotaxis and Optimus robots.
While the majority of questions on the Q&A platform were focused on Tesla's sluggish robotaxi rollout and plans for Optimus, Business Insider counted at least 20 questions about the potential merger, making it one of the most-discussed topics among investors.
It's a sign that Tesla investors are increasingly responding to rampant speculation about a mega-merger with SpaceX, which raised a record $86 billion in a blockbuster IPO last month.
Musk is the CEO of two public companies that are worth more than $1 trilion. Bloomberg/Getty Images Longtime Tesla investor Ross Gerber told Business Insider he expected the merger to come up in Tesla's Q2 earnings call on Wednesday.
"I expect management to downplay it, because on the surface it does not create obvious value for either company. It would be complicated, distracting, and difficult to structure in a way that makes everyone happy," said Gerber, who is the CEO of wealth management firm Gerber Kawasaki.
Gerber added that the slow pace of Tesla's robotaxi expansion, which he said underpinned the company's $1.4 trillion valuation, is investors' main focus right now. However, he still expects a tie-up with SpaceX to happen eventually.
"SpaceX is where much of the innovation and excitement is right now, while Tesla's core EV business is under increasing pressure," Gerber said.
"If investor interest continues shifting away from EVs and toward SpaceX's growth story, a merger may become a way to reframe Tesla around Elon's stronger innovation platform," he added.
Tesla and SpaceX's share prices have both languished in the past month. Tesla's stock is down nearly 8%, while SpaceX has fallen 35% as the rocket maker's shares tumbled from their post-IPO peak.
SpaceX's IPO broke records, but it has had a bumpy landing. TIMOTHY A. CLARY / AFP via Getty Images Investors and Tesla bulls previously told Business Insider that a combination would make it easier for the two companies, which are already heavily intertwined, to work together.
SpaceX and Tesla are already collaborating on Musk's Terafab chip-building moonshot, and SpaceX president Gwynne Shotwell didn't rule out a merger last month.
"That might make Elon's life a little easier, actually," Shotwell said.
"There's no question that there's synergies between Tesla and SpaceX in our futures, definitely, there's a convergence of a kind of what we're all trying to accomplish in the future," she added.
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Boeing vyzval USA, aby tlačily na EU kvůli transparentnosti rekordního úvěrového balíku ve výši 3 miliardy EUR pro Airbus. Firma zpochybňuje, zda je půjčka v souladu s dohodou z roku 2021 a žádá o zveřejnění úplných podmínek úvěru. Součástí balíku je i počáteční tranše 1 miliardy EUR.
Item 1 of 2 A Boeing logo is seen before the opening of the 55th International Paris Airshow at Le Bourget Airport near Paris, France, June 13, 2025. REUTERS/Benoit Tessier/File Photo
[1/2]A Boeing logo is seen before the opening of the 55th International Paris Airshow at Le Bourget Airport near Paris, France, June 13, 2025. REUTERS/Benoit Tessier/File Photo Purchase Licensing Rights, opens new tab
SummaryCompaniesBoeing asked the USTR to seek full loan terms and compatibility with the 2021 truceThe European Investment Bank announced an initial €1 billion tranche on June 29The EIB said the Airbus financing was a normal interest-bearing loanFARNBOROUGH, England, July 21 (Reuters) - Boeing (BA.N), opens new tab has asked the U.S. government to press the European Union for transparency over a €3 billion ($3.43 billion) loan package to Airbus, resurfacing potential trade tensions after the two sides extended a tariff truce over jet subsidies.
The request for the U.S. government to intervene comes as Airbus (AIR.PA), opens new tab has been talking about the development of a new plane as early as 2030, potentially kickstarting a new wave of competition in the global jet market.
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Both sides won partial victories in a 17-year battle at the World Trade Organization over mutual claims of aircraft subsidies that led to a wave of Transatlantic tariffs hitting other industries, before agreeing a five-year truce in 2021.
The truce, which was set to expire on July 6, has been extended indefinitely as both sides draw back from a renewed trade war in aerospace.
In a letter to U.S. Trade Representative Jamieson Greer, seen by Reuters, Boeing said it had been surprised by a June 29 announcement from the European Investment Bank, the EU lending arm, committing to its largest-ever corporate loan for Airbus.
It asked the USTR to request a "full accounting of the terms of this loan" from the EU and to explain why it was compatible with the 2021 truce agreement, which called for an "open and transparent process".
Boeing noted that the announcement, which included an initial tranche of €1 billion, came just four days after the EU adopted the decision to extend the standstill agreement.
"At a minimum, the timing of this loan is surprising," Boeing said in its letter.
The EIB said it finances thousands of companies every year and denied offering Airbus any unusual support.
"This is a normal loan, carrying interest, part of the EIB's overall financing activity," a spokesperson said.
Airbus and Boeing declined comment.
The USTR and European Commission did not immediately respond to requests for comment.
AIRPLANE DEVELOPMENTSIn its loan announcement, the EIB said the package of loans would support Airbus' long-term investments through 2030.
Boeing noted that this is the same year in which Airbus CEO Guillaume Faury has said Airbus plans to begin the development of an A320neo successor.
In an interview with Aviation Week ahead of the Farnborough Airshow, Faury spoke of a new plane in 2030 and disclosed the internal code word for the project, "eAction".
"The timing of this significant loan also coincides with Airbus leadership remarks publicly committing to a launch date of a new airplane, which further raises questions about both the size and the intent of this historic economic assistance package," Boeing's letter to the USTR said.
Boeing has said market conditions are not yet right for a new generation of planes, although analysts say both companies are expected to start the next developments by mid-decade.
Boeing's letter underscores wariness over funding on both sides, though tensions have eased considerably since the WTO subsidy battle.
The Trump administration last year agreed to exempt airplanes and parts from tariffs after briefly imposing duties on aviation last year.
Washington has not officially said it is extending the separate truce on tariffs tied to the Airbus-Boeing dispute, but four people familiar with the matter said both sides had effectively buried the marathon WTO dispute for the time being.
While the Trump administration has repeatedly used tariffs, it is seen as reluctant to make use of WTO tools that would implicitly recognize multilateral rules the president opposes.
Trump called this month for talks with trading partners to address the impact of foreign jet imports.
Boeing's concerns about the EU loan to Airbus could also be raised in those talks, a U.S. official told Reuters. European sources say similar loans were cleared in the WTO dispute.
($1 = 0.8754 euros)
Reporting by Tim Hepher, David Shepardson; Editing by Sharon Singleton
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Shares of Netflix (NFLX 1.96%) recently closed at approximely $69, putting the streaming giant down 26% in 2026. The slide is part of a longer and more painful 48% decline over the past year or so. Netflix has generated life-changing returns for investors, so it has a strong reputation on Wall Street and hasn't fallen this far very often in the past decade.
But catching falling knives can be a dangerous game. What seems like the ultimate buying opportunity can easily punish overeager buyers. Here's what to make of the company after its latest plunge following its second-quarter earnings report release last week.
Image source: The Motley Fool.
Wall Street is sounding the alarm on slowing growth The market saw Netflix as a fast-growing darling for years. However, those days might be over. Netflix's revenue growth is suddenly slowing. Revenue grew by 17.6% in the fourth quarter of 2025, followed by 16.2% in the first quarter of 2026, and 13.4% in the second quarter. Making matters worse, management guided for only 11.7% growth in the current quarter, yet another deceleration. Wall Street tends to emphasize quarterly performance, which is working against Netflix at the moment, to be sure.
That's not always healthy, especially for long-term investors. That said, Netflix's slowing growth is definitely becoming a trend. It's worth considering the competitive landscape Netflix must contend with, which includes video games and social media, not just other streaming services. Unfortunately, it's not yet clear whether this is a blip for Netflix or if the business has peaked. Making that distinction will be even harder due to Netflix's decision to offer less transparency into subscriber and viewership data.
Here's why the selling might be overdone Multiple things can be true. Netflix absolutely deserves a lower valuation if its growth is stalling. At the same time, the market might be taking things too far. Even as parts of the business mature, Netflix could still have a very long runway to monetize its users. The company has delved into live sports over the past few years and is monetizing price-sensitive subscribers through ad-supported memberships.
Today's Change
(
-1.96
%) $
-1.35
Current Price
$
67.60
It's also worth mentioning that Netflix hasn't had very many blockbuster hits recently. That's not ideal, but the next Squid Game or KPop Demon Hunters sensation could suddenly reignite growth at any given moment.
In the meantime, the stock has fallen to just 19 times 2026 earnings estimates. Analysts still see Netflix growing earnings by an average of 21% to 22% annually over the next three to five years. Buying Netflix here is probably a home run if the company grows even close to that. Even assuming annualized growth comes in closer to 10%-12%, the stock could still deliver solid long-term returns from its current price point.
Is this the ultimate buying opportunity? Perhaps not; the stock could easily go lower. But it's easy to like Netflix stock here.
Andra AP fonden raised its stake in shares of Visa Inc. (NYSE:V – Free Report) by 9.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 226,974 shares of the credit-card processor’s stock after acquiring an additional 18,859 shares during the period. Visa comprises approximately 0.9% of Andra AP fonden’s investment portfolio, making the stock its 15th largest holding. Andra AP fonden’s holdings in Visa were worth $68,601,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of V. Brighton Jones LLC increased its holdings in Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after buying an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after acquiring an additional 4,817 shares during the last quarter. Nicholas Hoffman & Company LLC. boosted its stake in Visa by 4.6% in the first quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock valued at $3,834,000 after acquiring an additional 477 shares during the last quarter. Matrix Asset Advisors Inc. NY grew its position in shares of Visa by 16.9% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock valued at $402,000 after acquiring an additional 164 shares during the period. Finally, Schnieders Capital Management LLC. grew its position in shares of Visa by 13.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor’s stock valued at $6,521,000 after acquiring an additional 2,230 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In Several equities research analysts have recently issued reports on the stock. Oppenheimer restated an “outperform” rating and set a $403.00 price target (up from $391.00) on shares of Visa in a research note on Wednesday, April 29th. BMO Capital Markets reissued an “outperform” rating and set a $387.00 price objective (up from $375.00) on shares of Visa in a report on Wednesday, July 15th. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 target price on shares of Visa in a research report on Wednesday, April 29th. Morgan Stanley restated an “overweight” rating and issued a $415.00 target price on shares of Visa in a research note on Wednesday, April 29th. Finally, Barclays began coverage on Visa in a research report on Tuesday, July 7th. They set an “overweight” rating and a $420.00 price target on the stock. Seven equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $398.36.
Get Our Latest Stock Analysis on Visa
Insiders Place Their Bets In other Visa news, CEO Ryan Mcinerney sold 31,455 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total value of $10,699,103.70. Following the completion of the transaction, the chief executive officer owned 15,174 shares in the company, valued at $5,161,284.36. This trade represents a 67.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total value of $729,720.00. Following the transaction, the general counsel directly owned 18,404 shares of the company’s stock, valued at $6,625,440. The trade was a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 75,581 shares of company stock worth $25,627,975 in the last quarter. 0.12% of the stock is owned by company insiders.
Visa Stock Up 0.7% Visa stock opened at $361.25 on Tuesday. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $365.14. The firm has a market capitalization of $648.00 billion, a price-to-earnings ratio of 31.47, a P/E/G ratio of 1.91 and a beta of 0.75. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. The firm has a 50 day simple moving average of $335.15 and a 200 day simple moving average of $325.05.
Visa (NYSE:V – Get Free Report) last posted its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.21. The firm had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.76 earnings per share. On average, analysts predict that Visa Inc. will post 13.11 earnings per share for the current year.
Visa Dividend Announcement The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were issued a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio is 23.34%.
Visa declared that its board has approved a share repurchase plan on Tuesday, April 28th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the credit-card processor to repurchase up to 3.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Visa Company Profile (Free Report)
Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.
Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.
Read More Five stocks we like better than Visa The Ugliest Stocks in the Market Just Got a Very Expensive Vote of Confidence Is Domino’s Stock Serving Up a Buying Opportunity? A $1T Black Hole: SpaceX Eyes Pentagon AI to Break Free Why Gold Miners Could Be the Market’s Biggest Comeback Story Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V – Free Report).
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General Motors ve 2. čtvrtletí zvýšil upravený EBIT na 3,9 mld. USD a podruhé letos zvýšil celoroční výhled na 14,0–16,0 mld. USD. Zároveň vyhlásil čtvrtletní dividendu 0,18 USD na akcii.
, /PRNewswire/ -- General Motors (NYSE: GM) today reported second-quarter 2026 revenue of $48.0 billion, net income attributable to stockholders of $1.3 billion, and EBIT-adjusted of $3.9 billion.
The company is raising its full-year 2026 EBIT-adjusted guidance for the second time this year. The company expects net income attributable to stockholders to be $8.4 billion to $9.8 billion; Automotive operating cash flow to be $15.4 billion to $19.4 billion; and EPS-diluted to be $8.98 to $10.98 based on its updated guidance and the impact of adjustments recorded year to date. These expected financial results do not include the potential impact of future adjustments related to special items.
The table below shows the revised guidance and how it compares to prior guidance.
Updated 2026 guidance
Previous 2026 guidance
EBIT-adjusted
$14.0 billion - $16.0 billion
$13.5 billion - $15.5 billion
Adjusted automotive free cash flow
$9.5 billion - $11.5 billion
$9.0 billion - $11.0 billion
EPS-diluted-adjusted
$12.00 - $14.00
$11.50 - $13.50
GM announced today that its Board of Directors has declared a quarterly cash dividend on the company's outstanding common stock of $0.18 per share, payable September 17, 2026, to holders of the company's common stock at the close of trading on September 4, 2026.
An overview of quarterly results and financial highlights appears below. Visit the GM Investor Relations website to download the company's earnings deck and GM Chair and CEO Mary Barra's Letter to Shareholders.
Conference call for investors and analysts
Mary Barra and GM Chief Financial Officer Paul Jacobson will host a conference call for the investment community at 8:30 a.m. ET today to discuss these results.
Conference call details are as follows:
1-800-857-9821 (U.S.) 1-517-308-9481 (international/caller-paid) Conference call passcode: General Motors An audio replay will be available on the GM Investor Relations website in the Events section. Results Overview
Three Months Ended
($M) except per share amounts
June 30, 2026
June 30, 2025
Change
% Change
Revenue
$ 48,026
$ 47,122
$ 904
1.9 %
Net income (loss) attributable to stockholders
$ 1,305
$ 1,895
$ (590)
(31.1) %
EBIT-adjusted
$ 3,943
$ 3,037
$ 906
29.8 %
Net income margin
2.7 %
4.0 %
(1.3) ppts
(32.5) %
EBIT-adjusted margin
8.2 %
6.4 %
1.8 ppts
28.1 %
Automotive operating cash flow
$ 5,071
$ 4,653
$ 418
9.0 %
Adjusted automotive free cash flow
$ 5,033
$ 2,827
$ 2,206
78.0 %
EPS-diluted
$ 1.41
$ 1.91
$ (0.50)
(26.0) %
EPS-diluted-adjusted
$ 3.57
$ 2.53
$ 1.04
41.3 %
GMNA EBIT-adjusted
$ 3,446
$ 2,415
$ 1,030
42.7 %
GMNA EBIT-adjusted margin
8.6 %
6.1 %
2.5 ppts
41.0 %
GMI EBIT-adjusted
$ 190
$ 204
$ (13)
(6.6) %
China equity income (loss)
$ 83
$ 71
$ 12
16.9 %
GM Financial EBT-adjusted
$ 605
$ 704
$ (99)
(14.0) %
Six Months Ended
($M) except per share amounts
June 30, 2026
June 30, 2025
Change
% Change
Revenue
$ 91,650
$ 91,141
$ 509
0.6 %
Net income (loss) attributable to stockholders
$ 3,932
$ 4,680
$ (747)
(16.0) %
EBIT-adjusted
$ 8,196
$ 6,527
$ 1,669
25.6 %
Net income margin
4.3 %
5.1 %
(0.8) ppts
(15.7) %
EBIT-adjusted margin
8.9 %
7.2 %
1.7 ppts
23.6 %
Automotive operating cash flow
$ 5,604
$ 7,057
$ (1,453)
(20.6) %
Adjusted automotive free cash flow
$ 6,302
$ 3,639
$ 2,663
73.2 %
EPS-diluted
$ 4.25
$ 5.28
$ (1.03)
(19.6) %
EPS-diluted-adjusted
$ 7.27
$ 5.31
$ 1.96
36.9 %
GMNA EBIT-adjusted
$ 7,107
$ 5,702
$ 1,405
24.6 %
GMNA EBIT-adjusted margin
9.3 %
7.4 %
1.9 ppts
25.7 %
GMI EBIT-adjusted
$ 314
$ 234
$ 80
34.4 %
China equity income (loss)(a)
$ 248
$ 116
$ 132
n.m.
GM Financial EBT-adjusted
$ 1,294
$ 1,389
$ (95)
(6.9) %
__________
(a)
n.m. = not meaningful
General Motors (NYSE:GM) is driving the future of transportation, leveraging advanced technology to build safer, smarter, and lower emission cars, trucks, and SUVs. GM's Buick, Cadillac, Chevrolet, and GMC brands offer a broad portfolio of innovative gasoline-powered vehicles and the industry's widest range of EVs, as we move to an all-electric future. Learn more at GM.com.
Cautionary Note on Forward-Looking Statements: This press release and related comments by management may include "forward-looking statements" within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact and represent our current judgment about possible future events. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgments are reasonable, but these statements are not guarantees of any future events or financial results, and our actual results may differ materially due to a variety of factors, many of which are described in our most recent Annual Report on Form 10-K and our other filings with the U.S. Securities and Exchange Commission. We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statements, except where we are expressly required to do so by law.
Guidance Reconciliations
The following table reconciles expected Net income attributable to stockholders to expected EBIT-adjusted (dollars in billions):
Year Ending December 31, 2026
Updated(a)
Previous
Net income attributable to stockholders
$ 8.4-9.8
$ 9.9-11.4
Income tax expense
2.2-2.8
2.6-3.1
Automotive interest (income) expense, net
(0.1)
—
Adjustments
3.5
1.0
EBIT-adjusted
$ 14.0-16.0
$ 13.5-15.5
__________
(a)
Refer to the reconciliation of Net income (loss) attributable to stockholders to EBIT-adjusted and segment profit (loss) for adjustment details. These expected financial results do not include the potential impact of future adjustments related to special items.
The following table reconciles expected EPS-diluted to expected EPS-diluted-adjusted:
Year Ending December 31, 2026
Updated(a)
Previous
Diluted earnings per common share
$ 8.98-10.98
$ 10.62-12.62
Adjustments
3.02
0.88
EPS-diluted-adjusted
$ 12.00-14.00
$ 11.50-13.50
__________
(a)
Refer to the reconciliation of diluted earnings per common share to EPS-diluted-adjusted for adjustment details. These expected financial results do not include the potential impact of future adjustments related to special items.
The following table reconciles expected automotive net cash provided by operating activities to expected adjusted automotive free cash flow (dollars in billions):
Year Ending December 31, 2026
Updated(a)
Previous
Net automotive cash provided by operating activities
$ 15.4-19.4
$ 16.8-20.8
Less: Capital expenditures
10.0-12.0
10.0-12.0
Adjustments
4.1
2.2
Adjusted automotive free cash flow
$ 9.5-11.5
$ 9.0-11.0
__________
(a)
These expected financial results do not include the potential impact of future adjustments related to special items.
General Motors Company and Subsidiaries1
Combining Income Statement Information
(In millions) (Unaudited)
Three Months Ended June 30, 2026
Three Months Ended June 30, 2025
Automotive
GM
Financial
Reclassifications
/Eliminations
Combined
Automotive
Cruise
GM
Financial
Reclassifications
/Eliminations
Combined
Net sales and revenue
Automotive
$ 43,762
$ —
$ —
$ 43,762
$ 42,869
$ —
$ —
$ —
$ 42,869
GM Financial
—
4,267
(3)
4,264
—
—
4,255
(2)
4,253
Total net sales and revenue
43,762
4,267
(3)
48,026
42,869
—
4,255
(2)
47,122
Costs and expenses
Automotive and other cost of sales
40,696
—
—
40,696
39,289
—
—
(1)
39,289
GM Financial interest, operating, and
other expenses
—
3,674
(1)
3,674
—
—
3,567
—
3,567
Automotive and other selling, general, and
administrative expense
2,199
—
(2)
2,197
2,141
—
—
(2)
2,139
Total costs and expenses
42,896
3,674
(3)
46,567
41,431
—
3,567
(2)
44,995
Operating income (loss)
867
593
—
1,459
1,438
—
688
—
2,127
Automotive interest expense
151
—
—
151
199
—
—
(1)
198
Interest income and other non-operating
income, net
223
—
—
223
367
—
—
(1)
366
Equity income (loss)
24
13
—
36
64
—
16
—
80
Income (loss) before income taxes
$ 963
$ 605
$ —
$ 1,568
$ 1,671
$ —
$ 704
$ —
$ 2,375
Income tax expense (benefit)
214
481
Net income (loss)
1,354
1,894
Net loss (income) attributable to
noncontrolling interests
(48)
1
Net income (loss) attributable to
stockholders
$ 1,305
$ 1,895
Net income (loss) attributable to
common stockholders
$ 1,287
$ 1,865
Six Months Ended June 30, 2026
Six Months Ended June 30, 2025
Automotive
GM
Financial
Reclassifications
/Eliminations
Combined
Automotive
Cruise
GM
Financial
Reclassifications
/Eliminations
Combined
Net sales and revenue
Automotive
$ 83,111
$ —
$ —
$ 83,111
$ 82,729
$ 1
$ —
$ —
$ 82,730
GM Financial
—
8,543
(4)
8,539
—
—
8,419
(7)
8,412
Total net sales and revenue
83,111
8,543
(4)
91,650
82,729
1
8,419
(7)
91,141
Costs and expenses
Automotive and other cost of sales
75,723
—
1
75,724
74,318
163
—
(1)
74,480
GM Financial interest, operating, and
other expenses
—
7,276
(1)
7,275
—
—
7,058
—
7,058
Automotive and other selling, general, and
administrative expense
4,270
—
(3)
4,266
4,016
111
—
(2)
4,124
Total costs and expenses
79,993
7,276
(4)
87,265
78,334
274
7,058
(4)
85,662
Operating income (loss)
3,118
1,267
—
4,385
4,395
(273)
1,361
(4)
5,479
Automotive interest expense
309
—
—
309
351
30
—
(30)
350
Interest income and other non-operating
income, net
530
(1)
—
530
701
2
—
(26)
676
Equity income (loss)
282
27
—
309
114
—
28
—
142
Income (loss) before income taxes
$ 3,621
$ 1,294
$ —
$ 4,915
$ 4,859
$ (301)
$ 1,389
$ —
$ 5,946
Income tax expense (benefit)
856
1,199
Net income (loss)
4,058
4,747
Net loss (income) attributable to
noncontrolling interests
(126)
(68)
Net income (loss) attributable to
stockholders
$ 3,932
$ 4,680
Net income (loss) attributable to common
stockholders
$ 3,901
$ 5,224
________
1
Certain columns and rows may not add due to rounding.
The following table summarizes basic and diluted earnings per share (in millions, except per share amounts):
Three Months Ended
Six Months Ended
June 30, 2026
June 30, 2025
June 30, 2026
June 30, 2025
Basic earnings per share
Net income (loss) attributable to stockholders
$ 1,305
$ 1,895
$ 3,932
$ 4,680
Adjustments(a)
(18)
(30)
(31)
544
Net income (loss) attributable to common stockholders
$ 1,287
$ 1,865
$ 3,901
$ 5,224
Weighted-average common shares outstanding
896
963
904
976
Basic earnings per common share
$ 1.44
$ 1.94
$ 4.32
$ 5.35
Diluted earnings per share
Net income (loss) attributable to common stockholders –
diluted
$ 1,287
$ 1,865
$ 3,901
$ 5,224
Weighted-average common shares outstanding – diluted
910
976
918
989
Diluted earnings per common share
$ 1.41
$ 1.91
$ 4.25
$ 5.28
Potentially dilutive securities(b)
—
6
—
6
__________
(a)
Includes a $593 million return from the preferred shareholders related to the redemption of Cruise preferred shares from noncontrolling interest holders in the six months ended June 30, 2025.
(b)
Potentially dilutive securities attributable to Performance Stock Units (PSUs) and Restricted Stock Units (RSUs) at June 30, 2026 and outstanding stock options, PSUs, and RSUs at June 30, 2025 were excluded from the computation of diluted earnings per share (EPS) because the securities would have had an antidilutive effect.
General Motors Company and Subsidiaries1
Combining Balance Sheet Information
(In millions, except per share amounts) (Unaudited)
June 30, 2026
December 31, 2025
Automotive
GM
Financial
Reclassifications
/Eliminations
Combined
Automotive
Cruise
GM
Financial
Reclassifications
/Eliminations
Combined
ASSETS
Current Assets
Cash and cash equivalents
$ 15,147
$ 4,987
$ —
$ 20,134
$ 15,062
$ 56
$ 5,826
$ —
$ 20,945
Marketable debt securities
4,503
82
—
4,585
6,685
—
39
—
6,724
Accounts and notes receivable, net(a)
16,001
1,559
(790)
16,770
12,199
76
1,506
(727)
13,054
GM Financial receivables, net(b)
—
45,262
(393)
44,870
—
—
45,661
(395)
45,266
Inventories
15,955
—
(5)
15,950
14,472
—
—
(5)
14,467
Other current assets
2,767
4,929
4
7,700
3,167
9
5,130
6
8,312
Total current assets
54,374
56,818
(1,184)
110,008
51,585
141
58,162
(1,120)
108,767
Non-current Assets
GM Financial receivables, net
—
44,454
—
44,454
—
—
44,384
—
44,384
Equity in net assets of nonconsolidated affiliates
4,485
1,178
—
5,663
4,564
—
1,117
—
5,681
Property, net
53,179
138
—
53,316
51,458
99
126
—
51,683
Goodwill and intangible assets, net
2,954
1,351
—
4,305
3,018
—
1,348
—
4,366
Equipment on operating leases, net
—
32,881
—
32,881
—
—
33,686
—
33,686
Deferred income taxes
24,190
(1,547)
—
22,643
24,446
—
(1,486)
—
22,960
Other assets
7,804
1,668
—
9,472
8,226
47
1,483
—
9,756
Total non-current assets
92,612
80,121
—
172,733
91,712
147
80,658
—
172,517
Total Assets
$ 146,986
$ 136,939
$ (1,184)
$ 282,742
$ 143,297
$ 288
$ 138,820
$ (1,120)
$ 281,284
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable (principally trade)(a)
$ 28,974
$ 657
$ (791)
$ 28,840
$ 24,075
$ 1
$ 491
$ (649)
$ 23,919
Short-term debt and current portion of long-term
debt
Automotive(b)
907
—
(393)
514
1,120
7
—
(471)
656
GM Financial
—
36,498
—
36,498
—
—
35,012
—
35,012
Cruise
—
—
—
—
—
—
—
—
—
Accrued liabilities
26,280
4,701
—
30,982
28,956
54
4,744
—
33,754
Total current liabilities
56,162
41,856
(1,184)
96,834
54,151
63
40,248
(1,120)
93,342
Non-current Liabilities
Long-term debt
Automotive
15,465
—
—
15,465
15,522
70
—
—
15,591
GM Financial
—
75,220
—
75,220
—
—
79,018
—
79,018
Cruise
—
—
—
—
—
—
—
—
—
Postretirement benefits other than pensions
3,939
—
—
3,939
4,025
—
—
—
4,025
Pensions
4,528
13
—
4,541
4,977
—
11
—
4,988
Other liabilities
19,541
3,560
—
23,101
17,495
281
3,375
—
21,151
Total non-current liabilities
43,473
78,793
—
122,267
42,019
351
82,404
—
124,775
Total Liabilities
99,635
120,650
(1,184)
219,101
96,170
414
122,652
(1,120)
218,116
Equity
Common stock, $0.01 par value
9
—
—
9
9
—
—
—
9
Additional paid-in capital(c)
19,184
1,018
(1,017)
19,185
18,086
1,842
1,077
(1,076)
19,928
Retained earnings
36,466
16,523
1
52,990
37,024
(1,968)
16,467
1
51,524
Accumulated other comprehensive loss
(8,932)
(1,251)
—
(10,183)
(8,966)
—
(1,377)
—
(10,343)
Total stockholders' equity
46,726
16,290
(1,016)
62,000
46,153
(126)
16,167
(1,075)
61,119
Noncontrolling interests(c)
625
—
1,016
1,641
974
—
—
1,075
2,049
Total Equity
47,351
16,290
—
63,641
47,127
(126)
16,167
—
63,168
Total Liabilities and Equity
$ 146,986
$ 136,939
$ (1,184)
$ 282,742
$ 143,297
$ 288
$ 138,820
$ (1,120)
$ 281,284
__________
(a)
Eliminations primarily include GM Financial accounts and notes receivable of $0.6 billion due from Automotive; and Automotive accounts receivable of $0.2 billion due from GM Financial at June 30, 2026; and GM Financial accounts and notes receivable of $0.5 billion due from Automotive; and Automotive accounts receivable of $0.1 billion primarily due from GM Financial at December 31, 2025.
(b)
Eliminations primarily related to GM Financial accounts receivable due from Automotive.
(c)
Primarily reclassification of GM Financial Cumulative Perpetual Preferred Stock, Series A, B, and C. The preferred stock is classified as noncontrolling interests in our consolidated balance sheets.
General Motors Company and Subsidiaries1
Combining Cash Flow Information
(In millions) (Unaudited)
Six Months Ended June 30, 2026
Six Months Ended June 30, 2025
Automotive
GM
Financial
Reclassifications
/Eliminations
Combined
Automotive
Cruise
GM
Financial
Reclassifications
/Eliminations
Combined
Cash flows from operating activities
Net income (loss)
$ 3,117
$ 941
$ —
$ 4,058
$ 4,040
$ (302)
$ 1,008
$ —
$ 4,747
Depreciation and impairment of Equipment on
operating leases, net
—
2,647
—
2,647
—
—
2,438
—
2,438
Depreciation, amortization, and impairment
charges on Property, net
3,468
18
—
3,486
3,511
9
17
—
3,537
Foreign currency remeasurement and transaction
(gains) losses
37
(7)
—
30
251
—
11
—
262
Undistributed earnings of nonconsolidated
affiliates, net
120
(27)
—
93
611
—
(28)
—
583
Pension contributions and OPEB payments
(431)
(1)
—
(432)
(308)
—
(1)
—
(309)
Pension and OPEB (income) expense, net
21
1
—
22
31
—
1
—
32
Provision (benefit) for deferred taxes
209
79
—
289
(3)
—
208
—
205
Change in other operating assets and
liabilities(a)(c)
(937)
(70)
117
(891)
(1,077)
(432)
410
2,573
1,473
Net cash provided by (used in) operating
activities
Principal collections and recoveries on finance
receivables(a)(b)
—
18,725
(1,011)
17,713
—
—
20,902
(3,616)
17,286
Purchases of leased vehicles
—
(6,591)
—
(6,591)
—
—
(8,591)
—
(8,591)
Proceeds from termination of leased vehicles
—
5,549
—
5,549
—
—
5,326
—
5,326
Other investing activities(b)
(103)
—
6
(97)
(3,320)
—
—
898
(2,422)
Net cash provided by (used in) investing
activities
(1,352)
(1,117)
(1,014)
(3,483)
(6,790)
(2)
(1,642)
(2,724)
(11,158)
Cash flows from financing activities
Net increase (decrease) in short-term debt
1
(18)
—
(16)
(13)
—
41
—
29
Proceeds from issuance of debt (original
maturities greater than three months)(b)
124
23,226
—
23,350
2,018
499
28,650
(499)
30,668
Payments on debt (original maturities
greater than three months)
(300)
(25,392)
(3)
(25,696)
(571)
(3)
(26,722)
(20)
(27,316)
Payment to purchase common stock
(2,800)
—
—
(2,800)
(2,012)
—
—
—
(2,012)
Issuance (redemption) of subsidiary stock(b)
—
—
—
—
—
—
—
(29)
(29)
Dividends paid(c)
(771)
(959)
900
(831)
(260)
—
(759)
700
(319)
Other financing activities
(379)
(73)
—
(452)
(227)
—
(95)
—
(322)
Net cash provided by (used in) financing
activities
(4,125)
(3,217)
897
(6,445)
(1,064)
496
1,115
152
699
Effect of exchange rate changes on cash, cash
equivalents, and restricted cash
(96)
13
—
(83)
261
1
64
—
327
Net increase (decrease) in cash, cash
equivalents, and restricted cash
31
(738)
—
(708)
(536)
(230)
3,602
—
2,836
Cash, cash equivalents, and restricted cash at
beginning of period
15,241
9,043
—
24,284
14,561
322
8,081
—
22,964
Cash, cash equivalents, and restricted cash at
end of period
$ 15,271
$ 8,305
$ —
$ 23,576
$ 14,025
$ 92
$ 11,683
$ —
$ 25,800
__________
(a)
Includes eliminations of $1.0 billion and $3.3 billion in the six months ended June 30, 2026 and 2025 primarily driven by purchases/collections of wholesale finance receivables resulting from vehicles sold by GM to dealers that have arranged their inventory floor plan financing through GM Financial.
(b)
Eliminations include intercompany funding activity from Automotive and GM Financial to Cruise in the six months ended June 30, 2025.
(c)
Eliminations include dividends issued by GM Financial to Automotive in the six months ended June 30, 2026 and 2025.
Note: Certain intercompany transactions that are eliminated in consolidation are presented on a net basis.
The following tables summarize key financial information (dollars in millions):
GMNA
GMI
Corporate
Eliminations
Total
Automotive
Cruise
GM
Financial
Reclassifications/
Eliminations
Total
Three Months Ended June 30, 2026
Net sales and revenue
$ 39,912
$ 3,691
$ 159
$ —
$ 43,762
$ —
$ 4,267
$ (3)
$ 48,026
Expenditures for property
$ 1,834
$ 61
$ 30
$ —
$ 1,924
$ —
$ 18
$ —
$ 1,942
Depreciation and amortization
$ 1,649
$ 122
$ 6
$ —
$ 1,777
$ —
$ 1,325
$ —
$ 3,102
Impairment charges
$ 1
$ —
$ —
$ —
$ 1
$ —
$ —
$ —
$ 1
Equity income (loss)(a)(b)(c)
$ (383)
$ 82
$ (37)
$ —
$ (337)
$ —
$ 13
$ —
$ (324)
GMNA
GMI
Corporate
Eliminations
Total
Automotive
Cruise
GM
Financial
Reclassifications/
Eliminations
Total
Three Months Ended June 30, 2025
Net sales and revenue
$ 39,486
$ 3,326
$ 57
$ —
$ 42,869
$ —
$ 4,255
$ (2)
$ 47,122
Expenditures for property
$ 2,014
$ 89
$ 28
$ —
$ 2,131
$ —
$ 6
$ —
$ 2,137
Depreciation and amortization
$ 1,642
$ 131
$ 9
$ —
$ 1,782
$ —
$ 1,243
$ —
$ 3,026
Impairment charges
$ —
$ 18
$ —
$ —
$ 18
$ —
$ —
$ —
$ 18
Equity income (loss)(a)(b)
$ 12
$ 77
$ (14)
$ —
$ 75
$ —
$ 16
$ —
$ 91
GMNA
GMI
Corporate
Eliminations
Total
Automotive
Cruise
GM
Financial
Reclassifications/
Eliminations
Total
Six Months Ended June 30, 2026
Net sales and revenue
$ 76,312
$ 6,550
$ 249
$ —
$ 83,111
$ —
$ 8,543
$ (4)
$ 91,650
Expenditures for property
$ 3,260
$ 113
$ 51
$ —
$ 3,425
$ —
$ 29
$ —
$ 3,454
Depreciation and amortization
$ 3,190
$ 241
$ 11
$ —
$ 3,442
$ —
$ 2,665
$ —
$ 6,107
Impairment charges
$ 26
$ —
$ —
$ —
$ 26
$ —
$ —
$ —
$ 26
Equity income (loss)(a)(b)(c)
$ (247)
$ 243
$ (82)
$ —
$ (85)
$ —
$ 27
$ —
$ (58)
GMNA
GMI
Corporate
Eliminations
Total
Automotive
Cruise
GM
Financial
Reclassifications/
Eliminations
Total
Six Months Ended June 30, 2025
Net sales and revenue
$ 76,873
$ 5,753
$ 103
$ —
$ 82,729
$ 1
$ 8,419
$ (7)
$ 91,141
Expenditures for property
$ 3,719
$ 182
$ 39
$ —
$ 3,940
$ 2
$ 10
$ —
$ 3,953
Depreciation and amortization
$ 3,230
$ 233
$ 36
$ —
$ 3,499
$ 5
$ 2,456
$ —
$ 5,959
Impairment charges
$ —
$ 18
$ —
$ —
$ 18
$ —
$ —
$ —
$ 18
Equity income (loss)(a)(b)
$ 255
$ 125
$ (14)
$ —
$ 366
$ —
$ 28
$ —
$ 394
__________
(a)
Includes Automotive China joint ventures (Automotive China JVs) equity income (loss) of $83 million and $248 million in the three and six months ended June 30, 2026 and $71 million and $116 million in the three and six months ended June 30, 2025.
(b)
Equity income (loss) related to Ultium Cells Holdings LLC, an equally owned joint venture with LG Energy Solution, is presented in Automotive and other cost of sales as this entity has historically been integral to the operations of our business by providing battery cells for our electric vehicles (EVs). Equity income (loss) related to Ultium Cell Holdings LLC was insignificant in the three and six months ended June 30, 2026 and insignificant and $252 million in the three and six months ended June 30, 2025.
(c)
Equity income (loss) in GMNA includes impacts of our portion of impairment charges for EV strategic realignment.
General Motors Company and Subsidiaries
Supplemental Material1
(Unaudited)
General Motors Company (GM) uses both generally accepted accounting principles (GAAP) and non-GAAP financial measures for operational and financial decision making, and to assess Company and segment business performance. Our non-GAAP measures include: earnings before interest and taxes (EBIT)-adjusted, presented net of noncontrolling interests; earnings before income taxes (EBT)-adjusted for our General Motors Financial Company, Inc. (GM Financial) segment; earnings per share (EPS)-diluted-adjusted; effective tax rate-adjusted (ETR-adjusted); return on invested capital-adjusted (ROIC-adjusted) and adjusted automotive free cash flow. GM's calculation of these non-GAAP measures may not be comparable to similarly titled measures of other companies due to potential differences between companies in the method of calculation. As a result, the use of these non-GAAP measures has limitations and should not be considered superior to, in isolation from, or as a substitute for, related U.S. GAAP measures.
These non-GAAP measures allow management and investors to view operating trends, perform analytical comparisons, and benchmark performance between periods and among geographic regions to understand operating performance without regard to items we do not consider a component of our core operating performance. Furthermore, these non-GAAP measures allow investors the opportunity to measure and monitor our performance against our externally communicated targets and evaluate the investment decisions being made by management to improve ROIC-adjusted. Management uses these measures in its financial, investment, and operational decision-making processes, for internal reporting, and as part of its forecasting and budgeting processes. Further, our Board of Directors uses certain of these and other measures as key metrics to determine management performance under our performance-based compensation plans. For these reasons, we believe these non-GAAP measures are useful for our investors.
EBIT-adjusted (Most comparable GAAP measure: Net income attributable to stockholders) EBIT-adjusted is presented net of noncontrolling interests and is used by management and can be used by investors to review our consolidated operating results because it excludes automotive interest income, automotive interest expense, and income taxes as well as certain additional adjustments that are not considered part of our core operations. Examples of adjustments to EBIT include, but are not limited to, impairment charges on long-lived assets and other exit costs resulting from strategic shifts in our operations or discrete market and business conditions, and certain costs arising from legal matters. For EBIT-adjusted and our other non-GAAP measures, once we have made an adjustment in the current period for an item, we will also adjust the related non-GAAP measure in any future periods in which there is an impact from the item. Our corresponding measure for our GM Financial segment is EBT-adjusted because interest income and interest expense are an integral part of its financial performance.
EPS-diluted-adjusted (Most comparable GAAP measure: Diluted earnings per common share) EPS-diluted-adjusted is used by management and can be used by investors to review our consolidated diluted EPS results on a consistent basis. EPS-diluted-adjusted is calculated as net income attributable to common stockholders-diluted less adjustments noted above for EBIT-adjusted and certain income tax adjustments divided by weighted-average common shares outstanding-diluted. Examples of income tax adjustments include the establishment or release of significant deferred tax asset valuation allowances.
ETR-adjusted (Most comparable GAAP measure: Effective tax rate) ETR-adjusted is used by management and can be used by investors to review the consolidated effective tax rate for our core operations on a consistent basis. ETR-adjusted is calculated as Income tax expense less the income tax related to the adjustments noted above for EBIT-adjusted and the income tax adjustments noted above for EPS-diluted-adjusted divided by Income before income taxes less adjustments. When we provide an expected adjusted effective tax rate, we cannot provide an expected effective tax rate without unreasonable efforts because the U.S. GAAP measure may include significant adjustments that are difficult to predict.
ROIC-adjusted (Most comparable GAAP measure: Return on equity) ROIC-adjusted is used by management and can be used by investors to review our investment and capital allocation decisions. We define ROIC-adjusted as EBIT-adjusted for the trailing four quarters divided by ROIC-adjusted average net assets, which is the average equity balances adjusted for average automotive debt and interest liabilities, exclusive of finance leases; average automotive net pension and other postretirement benefits (OPEB) liabilities; and average automotive net income tax assets during the same period.
Adjusted automotive free cash flow (Most comparable GAAP measure: Net automotive cash provided by operating activities) Adjusted automotive free cash flow is used by management and can be used by investors to review the liquidity of our automotive operations and to measure and monitor our performance against our capital allocation program and evaluate our automotive liquidity against the substantial cash requirements of our automotive operations. We measure adjusted automotive free cash flow as automotive operating cash flow from operations less capital expenditures adjusted for management actions. Management actions can include voluntary events such as discretionary contributions to employee benefit plans or nonrecurring specific events such as a closure of a facility that are considered special for EBIT-adjusted purposes.
The following table reconciles Net income (loss) attributable to stockholders to EBIT-adjusted and segment profit (loss) (dollars in millions):
Three Months Ended
Six Months Ended
June 30, 2026
June 30, 2025
June 30, 2026
June 30, 2025
Net income (loss) attributable to stockholders
$ 1,305
$ 1,895
$ 3,932
$ 4,680
Income tax expense (benefit)
214
481
856
1,199
Automotive interest expense
151
198
309
350
Automotive interest income
(183)
(200)
(356)
(391)
Adjustments
EV strategic realignment(a)
2,279
330
3,356
330
China restructuring actions(b)
177
140
99
140
Separation costs(c)
—
87
—
87
Cruise restructuring(d)
—
65
—
65
GMI exit costs(e)
—
33
—
33
Headquarters relocation(f)
—
8
—
34
Total adjustments
2,456
663
3,455
689
EBIT-adjusted
3,943
3,037
8,196
6,527
Operating segments
GM North America (GMNA)
3,446
2,415
7,107
5,702
GM International (GMI)
190
204
314
234
Cruise
—
—
—
(273)
GM Financial(g)
605
704
1,294
1,389
Total operating segments
4,241
3,323
8,714
7,051
Corporate and eliminations(h)
(298)
(286)
(518)
(524)
EBIT-adjusted
$ 3,943
$ 3,037
$ 8,196
$ 6,527
__________
(a)
These adjustments were excluded because they relate to our strategic realignment of our EV capacity and manufacturing footprint, including Ultium's strategic realignment.
(b)
These adjustments were excluded because they relate to restructuring activities associated with our operations in China, including an other-than-temporary impairment and restructuring charges recorded in equity earnings associated with our Automotive China JVs.
(c)
These adjustments were excluded because they relate to employee separation charges.
(d)
These adjustments were excluded because they relate to restructuring charges resulting from the plan to combine the Cruise and GM technical efforts to advance autonomous and assisted driving. The adjustments primarily consist of non-cash restructuring charges, supplier-related charges, and employee separation costs.
(e)
These adjustments were excluded because they primarily relate to the wind down of our manufacturing operations in Columbia and Ecuador.
(f)
These adjustments were excluded because they relate to the GM headquarters relocation, primarily consisting of accelerated depreciation and other relocation expenditures.
(g)
GM Financial amounts represent EBT-adjusted.
(h)
GM's automotive interest income and interest expense, corporate expenditures, legacy costs from the Opel / Vauxhall Business (primarily pension costs), and certain revenues and expenses that are not part of a reportable segment are recorded centrally in Corporate.
The following table reconciles diluted earnings per common share to EPS-diluted-adjusted (dollars in millions, except per share amounts):
Three Months Ended
Six Months Ended
June 30, 2026
June 30, 2025
June 30, 2026
June 30, 2025
Amount
Per Share
Amount
Per Share
Amount
Per Share
Amount
Per Share
Diluted earnings per common share
$ 1,287
$ 1.41
$ 1,865
$ 1.91
$ 3,901
$ 4.25
$ 5,224
$ 5.28
Adjustments(a)
2,456
2.70
663
0.68
3,455
3.76
689
0.70
Tax effect on adjustments(b)
(496)
(0.54)
(64)
(0.07)
(679)
(0.74)
(70)
(0.07)
Return from preferred shareholders(c)
—
—
—
—
—
—
(593)
(0.60)
EPS-diluted-adjusted
$ 3,247
$ 3.57
$ 2,464
$ 2.53
$ 6,677
$ 7.27
$ 5,250
$ 5.31
__________
(a)
Refer to the reconciliation of Net income (loss) attributable to stockholders to EBIT-adjusted and segment profit (loss) for adjustment details.
(b)
The tax effect of each adjustment is determined based on the tax laws and valuation allowance status of the jurisdiction to which the adjustment relates.
(c)
This adjustment consists of a return from the preferred shareholders related to the redemption of Cruise preferred shares from noncontrolling interest holders in the six months ended June 30, 2025.
The following table reconciles our effective tax rate to ETR-adjusted (dollars in millions):
Three Months Ended
Six Months Ended
June 30, 2026
June 30, 2025
June 30, 2026
June 30, 2025
Income
before
income
taxes
Income
tax
expense
(benefit)
Effective
tax rate
Income
before
income
taxes
Income
tax
expense
(benefit)
Effective
tax rate
Income
before
income
taxes
Income
tax
expense
(benefit)
Effective
tax rate
Income
before
income
taxes
Income
tax
expense
(benefit)
Effective
tax rate
Effective tax rate
$ 1,568
$ 214
13.7 %
$ 2,375
$ 481
20.2 %
$ 4,915
$ 856
17.4 %
$ 5,946
$ 1,199
20.2 %
Adjustments(a)
2,456
496
663
64
3,455
679
689
70
ETR-adjusted
$ 4,024
$ 710
17.6 %
$ 3,038
$ 545
17.9 %
$ 8,370
$ 1,535
18.3 %
$ 6,635
$ 1,269
19.1 %
__________
(a)
Refer to the reconciliation of Net income (loss) attributable to stockholders to EBIT-adjusted and segment profit (loss) for adjustment details.
These adjustments include Net income attributable to noncontrolling interests where applicable. The tax effect of each adjustment is
determined based on the tax laws and valuation allowance status of the jurisdiction to which the adjustment relates.
We define return on equity (ROE) as Net income (loss) attributable to stockholders for the trailing four quarters divided by average equity for the same period. Management uses average equity to provide comparable amounts in the calculation of ROE. The following table summarizes the calculation of ROE (dollars in billions):
Four Quarters Ended
June 30, 2026
June 30, 2025
Net income attributable to stockholders
$ 1.9
$ 4.8
Average equity(a)
$ 63.0
$ 66.8
ROE
3.1 %
7.1 %
__________
(a)
Includes equity of noncontrolling interests where the corresponding earnings (loss) are included in Net income attributable to stockholders.
The following table summarizes the calculation of ROIC-adjusted (dollars in billions):
Four Quarters Ended
June 30, 2026
June 30, 2025
EBIT-adjusted(a)
$ 14.4
$ 13.2
Average equity(b)
$ 63.0
$ 66.8
Add: Average automotive debt and interest liabilities (excluding finance leases)
16.0
16.2
Add: Average automotive net pension and OPEB liability
7.9
8.9
Less: Average automotive net income tax asset
(24.1)
(22.8)
ROIC-adjusted average net assets
$ 62.8
$ 69.1
ROIC-adjusted
22.9 %
19.0 %
__________
(a)
Refer to the reconciliation of Net income (loss) attributable to stockholders to EBIT-adjusted and segment profit (loss) for adjustment details.
(b)
Includes equity of noncontrolling interests where the corresponding earnings (loss) are included in EBIT-adjusted.
The following table reconciles Net automotive cash provided by operating activities to adjusted automotive free cash flow (dollars in millions):
Three Months Ended
Six Months Ended
June 30, 2026
June 30, 2025
June 30, 2026
June 30, 2025
Net automotive cash provided by operating activities
$ 5,071
$ 4,653
$ 5,604
$ 7,057
Less: Capital expenditures
(1,924)
(2,131)
(3,425)
(3,940)
Add: EV strategic realignment
1,871
—
4,103
—
Add: Legal Matters
13
—
13
—
Add: GMI exit costs
2
8
6
12
Add: Buick dealer strategy
—
305
—
465
Add: Separation costs
—
86
—
139
Add: China restructuring actions
—
9
—
9
Less: Ultium strategic realignment
—
(103)
—
(103)
Adjusted automotive free cash flow
$ 5,033
$ 2,827
$ 6,302
$ 3,639
General Motors Company and Subsidiaries
Supplemental Material1
(Unaudited)
Vehicle Sales
GM presents both wholesale and total vehicle sales data to assist in the analysis of our revenue and market share. Wholesale vehicle sales data consists of sales to GM's dealers and distributors as well as sales to the U.S. Government, and excludes vehicles sold by our joint ventures. Wholesale vehicle sales data correlates to GM's revenue recognized from the sale of vehicles, which is the largest component of Automotive net sales and revenue. In the six months ended June 30, 2026, 26.8% of GM's wholesale vehicle sales volume was generated outside the U.S. The following table summarizes wholesale vehicle sales by our Automotive operations (vehicles in thousands):
Three Months Ended
Six Months Ended
June 30, 2026
June 30, 2025
June 30, 2026
June 30, 2025
GMNA
848
849
1,641
1,676
GMI
142
125
248
209
Total
990
974
1,889
1,885
Total vehicle sales data represents: (1) retail sales (i.e., sales to consumers who purchase new vehicles from dealers or distributors); (2) fleet sales (i.e., sales to large and small businesses, governments, and daily rental car companies); and (3) certain vehicles used by dealers in their business, including but not limited to courtesy transportation vehicles previously used by dealers that were sold to the end consumer. Total vehicle sales data includes all sales by joint ventures on a total vehicle basis, not based on our percentage ownership interest in the joint venture, including vehicle sales of non-GM trademarked vehicles, which are included in the total vehicle sales we report for China. While total vehicle sales data does not correlate directly to the revenue GM recognizes during a particular period, we believe it is indicative of the underlying demand for GM's vehicles. Total vehicle sales data represents management's good faith estimate based on sales reported by our dealers, distributors, and joint ventures; commercially available data sources, such as registration and insurance data; and internal estimates and forecasts when other data is not available.
The following table summarizes industry and GM total vehicle sales and GM's related competitive position by geographic region (vehicles in thousands):
Three Months Ended
Six Months Ended
June 30, 2026
June 30, 2025
June 30, 2026
June 30, 2025
Industry
GM
Market
Share
Industry
GM
Market
Share
Industry
GM
Market
Share
Industry
GM
Market
Share
North America
United States
4,310
715
16.6 %
4,294
747
17.4 %
8,056
1,341
16.7 %
8,323
1,440
17.3 %
Other
1,059
133
12.6 %
1,052
131
12.5 %
1,987
250
12.6 %
1,992
257
12.9 %
Total North America
5,369
848
15.8 %
5,345
878
16.4 %
10,042
1,592
15.8 %
10,315
1,697
16.5 %
Asia/Pacific, Middle East,
and Africa
China(a)
5,434
357
6.6 %
6,587
448
6.8 %
10,346
706
6.8 %
12,398
890
7.2 %
Other
5,611
106
1.9 %
5,442
118
2.2 %
11,497
213
1.9 %
11,291
220
1.9 %
Total Asia/Pacific, Middle
East, and Africa
11,044
464
4.2 %
12,028
565
4.7 %
21,842
919
4.2 %
23,690
1,110
4.7 %
South America
Brazil
795
79
10.0 %
647
64
9.9 %
1,419
141
9.9 %
1,199
120
10.0 %
Other
464
35
7.6 %
411
31
7.6 %
921
69
7.5 %
811
60
7.4 %
Total South America
1,259
115
9.1 %
1,058
95
9.0 %
2,340
209
8.9 %
2,010
180
8.9 %
Total in GM markets
17,672
1,427
8.1 %
18,432
1,538
8.3 %
34,225
2,720
7.9 %
36,015
2,987
8.3 %
Total Europe
4,591
—
— %
4,372
—
— %
8,972
1
— %
8,609
1
— %
Total Worldwide(b)
22,263
1,427
6.4 %
22,804
1,538
6.7 %
43,197
2,721
6.3 %
44,623
2,988
6.7 %
United States
Cars
720
13
1.8 %
712
15
2.1 %
1,322
25
1.9 %
1,415
32
2.3 %
Trucks
1,163
378
32.5 %
1,223
401
32.8 %
2,170
702
32.4 %
2,277
746
32.8 %
Crossovers
2,428
324
13.4 %
2,359
330
14.0 %
4,564
615
13.5 %
4,631
662
14.3 %
Total United States
4,310
715
16.6 %
4,294
747
17.4 %
8,056
1,341
16.7 %
8,323
1,440
17.3 %
China(a)
SGMS
94
132
210
251
SGMW
263
315
496
639
Total
5,434
357
6.6 %
6,587
447
6.8 %
10,346
706
6.8 %
12,398
890
7.2 %
__________
(a)
Includes sales by the Automotive China JVs: SAIC General Motors Sales Co., Ltd. (SGMS) and SAIC GM Wuling Automobile Co., Ltd. (SGMW).
(b)
Cuba, Iran, North Korea, and Sudan have been subject to broad economic sanctions. Accordingly, these countries are excluded from industry sales data and corresponding calculation of market share.
As discussed above, total vehicle sales and market share data provided in the table above includes fleet vehicles. Certain fleet transactions, particularly sales to daily rental car companies, are generally less profitable than retail sales to end customers. The following table summarizes estimated fleet sales and those sales as a percentage of total vehicle sales (vehicles in thousands):
Three Months Ended
Six Months Ended
June 30, 2026
June 30, 2025
June 30, 2026
June 30, 2025
GMNA
207
178
391
350
GMI
111
96
193
164
Total fleet sales
318
274
584
514
Fleet sales as a percentage of total vehicle sales
Andra AP fonden raised its position in McDonald’s Corporation (NYSE:MCD – Free Report) by 995.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,171 shares of the fast-food giant’s stock after buying an additional 79,211 shares during the quarter. Andra AP fonden’s holdings in McDonald’s were worth $27,092,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the company. Your Advocates Ltd. LLP bought a new position in shares of McDonald’s in the fourth quarter worth $27,000. Park Place Capital Corp boosted its stake in McDonald’s by 95.7% in the 4th quarter. Park Place Capital Corp now owns 92 shares of the fast-food giant’s stock worth $28,000 after purchasing an additional 45 shares during the period. IFC & Insurance Marketing Inc. bought a new position in McDonald’s in the 4th quarter worth about $29,000. Abound Financial LLC purchased a new position in McDonald’s during the 4th quarter valued at about $30,000. Finally, DecisionPoint Financial LLC grew its holdings in McDonald’s by 1,616.7% during the 4th quarter. DecisionPoint Financial LLC now owns 103 shares of the fast-food giant’s stock valued at $31,000 after buying an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.
McDonald’s Price Performance MCD stock opened at $267.50 on Tuesday. The firm has a 50 day simple moving average of $276.94 and a two-hundred day simple moving average of $299.99. The stock has a market cap of $190.06 billion, a PE ratio of 22.05, a P/E/G ratio of 2.78 and a beta of 0.41. McDonald’s Corporation has a one year low of $264.09 and a one year high of $341.75.
McDonald’s (NYSE:MCD – Get Free Report) last released its earnings results on Thursday, May 7th. The fast-food giant reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.74 by $0.09. McDonald’s had a negative return on equity of 442.10% and a net margin of 31.62%.The business had revenue of $6.52 billion for the quarter, compared to analysts’ expectations of $6.47 billion. During the same quarter in the prior year, the firm earned $2.67 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. On average, research analysts expect that McDonald’s Corporation will post 12.86 EPS for the current fiscal year.
McDonald’s Announces Dividend The company also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd were given a $1.86 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $7.44 dividend on an annualized basis and a yield of 2.8%. McDonald’s’s payout ratio is presently 61.34%.
Analysts Set New Price Targets A number of analysts recently weighed in on MCD shares. Weiss Ratings lowered shares of McDonald’s from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Barclays reduced their price target on shares of McDonald’s from $380.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. BTIG Research reaffirmed a “buy” rating and issued a $370.00 price target on shares of McDonald’s in a report on Thursday, May 7th. TD Cowen reiterated a “hold” rating on shares of McDonald’s in a research report on Friday, June 12th. Finally, Tigress Financial lifted their price objective on McDonald’s from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Friday. Fifteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $336.32.
Check Out Our Latest Research Report on McDonald’s
Insider Activity at McDonald’s In other news, insider Joseph M. Erlinger sold 5,252 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $284.32, for a total transaction of $1,493,248.64. Following the completion of the sale, the insider owned 7,734 shares of the company’s stock, valued at approximately $2,198,930.88. This represents a 40.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,763 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $278.36, for a total transaction of $769,108.68. Following the completion of the transaction, the executive vice president owned 6,268 shares in the company, valued at $1,744,760.48. This represents a 30.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 8,681 shares of company stock valued at $2,456,440. 0.26% of the stock is owned by insiders.
McDonald’s News Summary Here are the key news stories impacting McDonald’s this week:
Positive Sentiment: One Seeking Alpha article argues that McDonald’s recent sell-off is creating an opportunity for investors, signaling that the stock may be undervalued after its decline. McDonald’s Sell-Off Is Your Opportunity Positive Sentiment: Another article upgraded McDonald’s to Buy, saying its consistency deserves a higher valuation and pointing to accelerating top- and bottom-line growth as signs of a potential turnaround. McDonald’s: Consistency Deserves A Better Multiple (Rating Upgrade) Positive Sentiment: A separate bullish note said the stock is attractive after compression in earnings multiples and highlighted recent catalysts that could improve the business outlook. McDonald’s: Consistency Deserves A Better Multiple (Rating Upgrade) Positive Sentiment: Coverage from Zacks focused on generally optimistic Wall Street analyst sentiment, which can support shares when investors expect favorable estimates or ratings. Is McDonald’s (MCD) a Buy as Wall Street Analysts Look Optimistic? Neutral Sentiment: Several lifestyle and menu-focused stories highlighted product novelty, including a new Caesar sauce and a drink item resembling a Starbucks-style pink drink, but these appear more brand-interest driven than material near-term catalysts. Review: McDonald’s Caesar sauce is the tangy menu addition we didn’t know we needed Negative Sentiment: Some recent commentary remains cautious, with one piece saying McDonald’s stock “still not good enough,” reinforcing that not all investors are convinced the valuation or growth outlook has improved enough. McDonald’s: Still Not Good Enough Negative Sentiment: An article on MCD’s 2026 weakness noted the stock is down sharply this year and said investors are bracing for softer same-store sales ahead of the next earnings report, which can weigh on sentiment. McDonald’s (MCD) Stock Struggles Continue: What’s Behind the 2026 Decline? About McDonald’s (Free Report)
McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.
Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.
Further Reading Five stocks we like better than McDonald’s The Ugliest Stocks in the Market Just Got a Very Expensive Vote of Confidence Is Domino’s Stock Serving Up a Buying Opportunity? A $1T Black Hole: SpaceX Eyes Pentagon AI to Break Free Why Gold Miners Could Be the Market’s Biggest Comeback Story Want to see what other hedge funds are holding MCD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McDonald’s Corporation (NYSE:MCD – Free Report).
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Qualcomm před zveřejněním výsledků 29. července ztratil více než 30 % od květnového maxima, i když na Investor Day zdvojnásobil cíl tržeb mimo segment telefonů pro fiskální rok 2029.
Few stocks have tested investor patience like Qualcomm Inc. NASDAQ: QCOM this summer. After hitting a high at the end of May, the chip giant gave back over 30% of its value through last Friday's close, unwinding much of a rally that had looked like the start of something far more durable.
Qualcomm Today
$170.32 -1.46 (-0.85%)
As of 07/20/2026 04:00 PM Eastern
52-Week Range$121.99▼
$259.92Dividend Yield2.16%
P/E Ratio18.51
Price Target$219.76
What makes the slide so frustrating for the bulls is that it has come despite so many recent bullish updates. Qualcomm used its June Investor Day to double its fiscal 2029 non-handset revenue target and lay out a credible data center strategy with blue-chip customers already signed up. That was arguably the most consequential update in the company's recent history, and yet the stock has gone backward ever since.
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With Qualcomm's next earnings report due July 29, the disconnect raises the question: has the market been justified in sending shares back to 2021 levels, or has it overreacted and created a golden entry opportunity?
Why the Sell-off Doesn't Make SenseThe core of the bullish argument is straightforward. Qualcomm is still being valued largely as a legacy handset chipmaker, even though the company has spent the past year methodically building something quite different underneath.
Last month’s Investor Day made that ambition explicit, with a doubled non-handset revenue target underpinned by a data center business targeting billions in revenue by the end of the decade, alongside meaningful growth ambitions in its automotive and internet of things (IoT) units.
Add in the string of acquisitions Qualcomm has made to bolster its go-to-market offerings, and this starts to look like a company that has been quietly assembling the pieces for a real transformation.
However, the market isn't buying it. But the gap between what Qualcomm says it will become and how investors price it today is precisely where the best opportunity may lie.
The Bear Case Deserves a HearingThe skeptics have some fair points, and the biggest one is timing. Even the most enthusiastic supporters of the data center strategy acknowledge that meaningful revenue is a multi-year story rather than something that’ll show up in the coming quarters. Investors buying today on the strength of the pivot are being asked to wait, and markets are rarely patient.
There's also the matter of what happens to the core business in the meantime. Qualcomm still carries real customer concentration risk, with the long-flagged prospect of Apple Inc. NASDAQ: AAPL moving its modem work in-house hanging over the handset division. Margin pressure in the existing business is another concern, and it's a legitimate worry that the costs of building out the new one could weigh on profitability before the payoff arrives.
Those risks are why some analysts remain firmly on the fence. GF Securities recently initiated coverage at Hold, acknowledging the scale of the data center opportunity while arguing that more visibility is needed into how competitive Qualcomm's offering will prove to be.
The Analyst Split Tells Its Own StoryQualcomm Stock Forecast Today12-Month Stock Price Forecast:
$219.76
29.03% Upside
Hold
Based on 38 Analyst Ratings
Current Price$170.32High Forecast$300.00Average Forecast$219.76Low Forecast$120.00Qualcomm Stock Forecast Details
That caution, however, sits alongside a notably more bullish view from TD Cowen, which reiterated its Buy rating on Qualcomm this past week and lifted its price target to $225, implying roughly 30% upside from current levels.
The divergence between those two positions captures the entire debate.
The bears are focused on the next few quarters, where handset dynamics and uncertainty around its long-term pivot dominate.
The bulls are focused on the next few years, where the data center business either delivers on its targets or it doesn't. Both can be right at once, which helps explain why the stock has been so volatile.
What the July 29 Report Needs to DeliverAll of which brings the focus squarely onto the company’s upcoming earnings report. The headline numbers will matter, but the commentary around them will matter much more, and there are a few specific things worth listening for.
The most important update is on the data center roadmap, particularly customer traction and how management frames the timeline for revenue to start landing. Concrete progress there would go a long way toward closing the credibility gap that has opened up since Investor Day. Beyond that, watch for evidence that Qualcomm’s diversification story is actually offsetting handset concentration, and for any commentary on how its margin profile is expected to evolve as the mix shifts.
Get those right, and a stock that has fallen 35% while its long-term story arguably improved could start to look badly mispriced. Fall short, and the market's skepticism about the ongoing pivot will only strengthen.
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Andra AP fond v 1. čtvrtletí zvýšil podíl v Cisco Systems o 23,1 % a nakoupil dalších 107 689 akcií. Nyní drží 574 167 akcií v hodnotě 44,55 milionu USD.
Andra AP fonden boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 23.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 574,167 shares of the network equipment provider’s stock after purchasing an additional 107,689 shares during the period. Cisco Systems comprises 0.6% of Andra AP fonden’s portfolio, making the stock its 25th biggest holding. Andra AP fonden’s holdings in Cisco Systems were worth $44,550,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in CSCO. Norges Bank bought a new stake in shares of Cisco Systems during the 4th quarter valued at $4,473,272,000. Auto Owners Insurance Co raised its holdings in Cisco Systems by 8,718.3% in the 4th quarter. Auto Owners Insurance Co now owns 51,952,421 shares of the network equipment provider’s stock worth $400,190,000 after purchasing an additional 51,363,281 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Cisco Systems by 103.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,289,151 shares of the network equipment provider’s stock worth $2,256,144,000 after purchasing an additional 14,874,407 shares during the period. Franklin Resources Inc. lifted its position in Cisco Systems by 18.0% during the fourth quarter. Franklin Resources Inc. now owns 50,320,905 shares of the network equipment provider’s stock valued at $3,876,219,000 after purchasing an additional 7,679,422 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Cisco Systems by 11.6% during the fourth quarter. Invesco Ltd. now owns 59,836,782 shares of the network equipment provider’s stock valued at $4,609,227,000 after purchasing an additional 6,224,062 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth CSCO has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price target on Cisco Systems from $116.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 3rd. Piper Sandler lifted their price objective on Cisco Systems from $86.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. New Street Research boosted their price objective on Cisco Systems from $82.00 to $122.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Zacks Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Finally, BNP Paribas Exane raised their target price on shares of Cisco Systems from $87.00 to $132.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $123.14.
Read Our Latest Report on Cisco Systems
Trending Headlines about Cisco Systems Here are the key news stories impacting Cisco Systems this week:
Positive Sentiment: Wall Street Zen upgraded Cisco Systems to “Buy,” adding to a generally favorable analyst backdrop for the stock. Wall Street Zen Upgrades Cisco Systems (NASDAQ:CSCO) to “Buy” Positive Sentiment: Cisco continues to be viewed as an AI infrastructure play, with reports noting that the company has raised its AI order target and is working on quantum networking and AI-powered Webex Contact Center tools, which could support longer-term growth. Cisco (CSCO) Tests Quantum Networking While Webex Adds AI Contact Center Partner Positive Sentiment: Commentary around Cisco’s stock remaining below its 52-week high despite strong year-to-date gains has fueled additional bullish price-prediction headlines, reinforcing optimism about the company’s AI-related upside. Price Prediction: Cisco Stock Will Double on This Date Neutral Sentiment: Cisco has been labeled a “trending stock” in recent Zacks coverage, reflecting heightened investor attention rather than a clear new catalyst. Here is What to Know Beyond Why Cisco Systems, Inc. (CSCO) is a Trending Stock Neutral Sentiment: Analyst-focused articles reiterate that consensus brokerage ratings remain constructive, but they do not point to a major new business catalyst. Wall Street Analysts Think Cisco (CSCO) Is a Good Investment: Is It? Negative Sentiment: Cisco fell alongside a broader market dip, and one article specifically highlighted that CSCO’s decline was slightly worse than the market’s move, contributing to near-term weakness. Cisco Systems (CSCO) Sees a More Significant Dip Than Broader Market: Some Facts to Know Negative Sentiment: Reports that Cisco may be considering a $150 million to $200 million acquisition of Zafran Security created some uncertainty, especially after the startup denied active sale talks, which may have weighed on sentiment. Cisco Systems (CSCO) Stock Dips Amid Zafran Security Acquisition Reports Cisco Systems Stock Down 1.1% Shares of CSCO opened at $110.70 on Tuesday. The business’s 50 day moving average is $117.63 and its 200 day moving average is $93.67. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 0.40. Cisco Systems, Inc. has a 12-month low of $65.75 and a 12-month high of $130.37. The company has a market capitalization of $436.32 billion, a PE ratio of 35.94, a price-to-earnings-growth ratio of 2.85 and a beta of 1.02.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The network equipment provider reported $1.06 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.03. The business had revenue of $15.84 billion during the quarter, compared to the consensus estimate of $15.56 billion. Cisco Systems had a return on equity of 28.44% and a net margin of 20.14%.The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.96 EPS. Cisco Systems has set its Q4 2026 guidance at 1.160-1.180 EPS and its FY 2026 guidance at 4.270-4.290 EPS. Research analysts expect that Cisco Systems, Inc. will post 3.54 earnings per share for the current fiscal year.
Cisco Systems Dividend Announcement The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Monday, July 6th will be paid a $0.42 dividend. The ex-dividend date is Monday, July 6th. This represents a $1.68 annualized dividend and a yield of 1.5%. Cisco Systems’s payout ratio is presently 54.55%.
Insider Buying and Selling at Cisco Systems In other news, EVP Oliver Tuszik sold 2,761 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $114.61, for a total transaction of $316,438.21. Following the completion of the transaction, the executive vice president owned 180,877 shares in the company, valued at $20,730,312.97. This trade represents a 1.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thimaya K. Subaiya sold 7,127 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $119.91, for a total value of $854,598.57. Following the transaction, the executive vice president owned 140,857 shares of the company’s stock, valued at $16,890,162.87. This represents a 4.82% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 47,650 shares of company stock worth $5,668,823. Insiders own 0.01% of the company’s stock.
About Cisco Systems (Free Report)
Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.
In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.
Further Reading Five stocks we like better than Cisco Systems The Ugliest Stocks in the Market Just Got a Very Expensive Vote of Confidence Is Domino’s Stock Serving Up a Buying Opportunity? A $1T Black Hole: SpaceX Eyes Pentagon AI to Break Free Why Gold Miners Could Be the Market’s Biggest Comeback Story Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO – Free Report).
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Newmont (NYSE:NEM – Get Free Report) is anticipated to issue its Q2 2026 results after the market closes on Thursday, July 23rd. Analysts expect the company to post earnings of $2.00 per share and revenue of $6.3365 billion for the quarter. Interested persons are encouraged to explore the company’s upcoming Q2 2026 earning summary page for the latest details on the call scheduled for Thursday, July 23, 2026 at 5:30 PM ET.
Newmont (NYSE:NEM – Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same period in the prior year, the firm posted $1.25 EPS. The company’s revenue for the quarter was up 45.8% on a year-over-year basis. On average, analysts expect Newmont to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.
Newmont Stock Down 0.5% NEM opened at $89.24 on Tuesday. The stock has a fifty day moving average of $101.69 and a 200-day moving average of $110.19. The company has a market capitalization of $95.26 billion, a P/E ratio of 11.57, a P/E/G ratio of 1.03 and a beta of 0.46. Newmont has a fifty-two week low of $58.97 and a fifty-two week high of $134.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44.
Newmont Announces Dividend The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th were issued a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a yield of 1.2%. Newmont’s payout ratio is currently 13.49%.
Key Headlines Impacting Newmont Here are the key news stories impacting Newmont this week:
Positive Sentiment: Several commentary pieces argue Newmont could still be attractive on valuation, suggesting the recent pullback may be creating a potential value opportunity if gold stays firm and earnings hold up. Is Newmont (NYSE:NEM) Still A Compelling Value Stock? Positive Sentiment: Gold’s strength remains a tailwind for Newmont, and one article says the company is facing a “crucial test” as the metal stays strong, which could support revenue and margins if commodity prices remain elevated. Newmont (NYSE:NEM) Faces a Crucial Test As Gold Stays Strong Positive Sentiment: Market chatter ahead of Q2 earnings points to investor interest in key operating metrics, and recent discussion of Newmont as a trading candidate around macro uncertainty suggests the stock could benefit if results exceed expectations. Newmont Stock Suddenly Offers a Double-Sided Debit Trade on U.S.-Iran Tensions and Upcoming Earnings Neutral Sentiment: Multiple previews of Newmont’s upcoming Q2 report focus on Wall Street estimates and key metrics, signaling that the stock may remain range-bound until earnings provide clearer direction. Seeking Clues to Newmont (NEM) Q2 Earnings? A Peek Into Wall Street Projections for Key Metrics Negative Sentiment: Scotiabank reportedly has a negative outlook for Newmont’s FY2027 earnings, reinforcing concerns that profit growth may slow after the current cycle. Scotiabank Has Negative Outlook for Newmont FY2027 Earnings Negative Sentiment: Technical commentary says Newmont shares have fallen to a 2026 low and support is being tested, which points to continued downside pressure unless buyers step in soon. Newmont Shares At 2026 Low, With Support Being Tested Insider Activity In related news, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the transaction, the insider directly owned 23,163 shares of the company’s stock, valued at $2,550,477.93. This trade represents a 9.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $92.38, for a total transaction of $277,140.00. Following the transaction, the executive vice president owned 43,315 shares of the company’s stock, valued at approximately $4,001,439.70. This represents a 6.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,556 shares of company stock valued at $3,058,146 over the last quarter. 0.06% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Newmont A number of large investors have recently modified their holdings of the business. AQR Capital Management LLC grew its holdings in shares of Newmont by 82.5% during the fourth quarter. AQR Capital Management LLC now owns 7,402,278 shares of the basic materials company’s stock worth $739,117,000 after purchasing an additional 3,345,543 shares during the last quarter. Boston Partners raised its holdings in Newmont by 49.3% in the 3rd quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock valued at $585,828,000 after buying an additional 2,288,653 shares during the last quarter. Bridgewater Associates LP boosted its position in Newmont by 496.1% during the 4th quarter. Bridgewater Associates LP now owns 2,308,909 shares of the basic materials company’s stock worth $230,545,000 after buying an additional 1,921,592 shares during the period. Ameriprise Financial Inc. boosted its position in Newmont by 142.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,262,258 shares of the basic materials company’s stock worth $189,963,000 after buying an additional 1,914,286 shares during the period. Finally, Morgan Stanley grew its holdings in Newmont by 11.6% during the 4th quarter. Morgan Stanley now owns 12,401,862 shares of the basic materials company’s stock worth $1,238,326,000 after acquiring an additional 1,284,105 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.
Wall Street Analyst Weigh In A number of research analysts have issued reports on the stock. Canadian Imperial Bank of Commerce set a $175.00 target price on shares of Newmont and gave the stock an “outperform” rating in a research report on Monday, June 1st. Zacks Research downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Bank of America cut their price target on Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Citigroup reissued a “positive” rating on shares of Newmont in a research report on Wednesday, July 15th. Finally, Scotiabank lowered their price objective on Newmont from $151.00 to $147.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $136.26.
Check Out Our Latest Stock Analysis on Newmont
Newmont Company Profile (Get Free Report)
Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.
Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.
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