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The firm sees Credo’s total addressable market swelling above $10 billion as agentic AI drives backend and frontend network builds across hyperscalers and neoclouds.

CRDO stock is moving. See the chart and price action here.  BNP Paribas underscores that Credo’s push into optics is additive, not a signal that short‑reach copper is fading. 

The company still expects roughly half of its roughly 80% year‑over‑year fiscal 2027 growth to come from Active Electrical Cables, implying about 47% growth to approximately $1.8 billion of AEC revenue. 

Credo argues its SerDes-plus system‑level approach yields tighter integration, better reliability, and latency of roughly 6 ns versus peers at around 10 ns, which could matter as AI clusters become more scale‑out and latency-sensitive.

Optics Optics is the other major leg of the story. BNP Paribas expects more than $600 million of fiscal 2027 revenue from ZeroFlap (ZF) optical transceivers, optical DSPs and DustPhotonics Ltd photonic integrated circuits, approaching a 25% mix and offering margin accretion versus the corporate average. 

Credo plans to ship hundreds of thousands of ZF transceiver units per month by late fiscal 2027, with a two to three-times volume ramp over the subsequent years as it broadens beyond its initial two hyperscalers and two neoclouds. 

The DustPhotonics acquisition is central to Credo’s optical differentiation. DustPhotonics’ PICs use proprietary Low Loss Laser Coupling technology to cut laser count by about 75%, from eight lasers to two. 

Branching OutCustomer concentration risk appears to be easing with BNP Paribas expecting Credo to have three to four 10% hyperscale customers in fiscal 2027. 

Evercore ISI initiated coverage on CRDO Monday with an Outperform rating and a $325 price target. The analysts highlighted Credo’s systems approach—design, manufacturing, and end‑to‑end testing—as a key competitive advantage versus traditional optical module vendors. 

The firm expects Credo’s optical revenue alone to reach more than $600 million by 2028, supported by investments in optical DSPs and differentiated module architectures. 

The TakeawayTaken together, both firms view Credo as evolving from a pure‑play AEC vendor into a dual copper‑and‑optical AI connectivity platform with hyperscaler‑grade scale, expanding TAM and a roadmap tied directly to the next wave of agentic AI infrastructure build‑outs.

CRDO Stock Price Activity: Credo stock was up 7.67% at $292.67 at the time of publication on Monday, according to data from Benzinga Pro.

Over the past month, CRDO has gained about 27.4% versus a 0.7% decline in the S&P 500 and is up roughly 96% year-to-date compared to the index’s 8.6% gain. The stock is trading at new 52-week highs.

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Credo Technologies NASDAQ: CRDO is accelerating AI, and the impact is reflected in its stock price. The company’s pioneering work in zero-flap connectivity isn’t yet the standard but is quickly becoming the go-to solution for hyperscalers, enterprises, and AI factories.

Credo Technology Group Today

CRDO

Credo Technology Group

$273.48 +1.47 (+0.54%)

As of 11:32 AM Eastern

This is a fair market value price provided by Massive. Learn more.

52-Week Range$84.25▼

$308.67P/E Ratio110.22

Price Target$263.11

Utilizing digital and optical solutions, embedding them into unified hardware, and complementing it with advanced Active Electric Cables and the software to support it all, Credo connects not only the GPUs within the servers and the servers and racks within the data center rooms, but the rooms of server racks and buildings of rooms, resolving a crippling issue for the industry. Flaps.

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Flaps are when optical connections drop and reconnect. It’s not a new problem, but one with wide-ranging implications for AI.

Working at lightning-fast speeds, 800G to 1.6T, connectivity is critical. It takes 10’s of thousands of GPUs to train advanced models; a single flap can throw the system out of sync, leading to idle components, inefficient use, and waste. Controlling waste is critical, as AI is expensive. Zero-flap technology has been proven to use 50% less power than standard optics in data center clusters and to save up to $1,000 in upfront hardware costs. Additionally, AECs provide 10X greater reliability and 10X to 20X greater lifespan, so it’s easy to see why they are in high demand.

Credo Technologies Uptrend Gains StrengthCredo Technologies' stock price was in the midst of an uptrend earlier this year, suggesting a textbook trend-following entry point in late March. Centered on a MACD convergence, rising trading volume, and the fundamental story, the signal resulted in a massive upside; now, additional upside is indicated. MACD has converged yet again with the fresh highs, alongside improving trading volume, reflecting a market not only in an uptrend but also as strong as it's ever been and getting stronger.

In this scenario, CRDO’s stock price may correct, and the correction could be significant due to the magnitude of previous price swings. Still, such a correction would present a buying opportunity. As it stands, price action as of mid-June reflects potential for a peak, but the selling has yet to gain traction. The critical near-term support level is near $240, but a move to $215 or even lower is possible.

Credo Technology Group Holding Ltd. (CRDO) Price Chart for Wednesday, June, 24, 2026

Analysts' trends are a factor in the stock price outlook. While consensus assumes the market is fairly valued as Q2 2026 nears its end, the trends are positive, including increasing coverage, firming sentiment, and an uptrend in price targets. The consensus of 18 analysts tracked by MarketBeat is a Moderate Buy, with an 89% Buy-side bias; coverage is nearly double on a trailing 12-month basis (TTM), and the price target is up nearly 3x year-over-year, with the high end pegged at $300. A move to $300 would be sufficient to set another all-time high.

Institutional trends also factor into the stock price rally, as they own 80% of the stock and have been aggressively accumulating. MarketBeat data reflects a $2-to-$1 pace on a TTM basis, with activity ramping into Q1 2026. The Q1 balance is far more aggressive, ramping to over $3 bought for each $1 sold, and held strong into Q2. Although the net amount of institutional activity fell, the balance remains bullish at a $2.2-to-$1 pace, sufficient to limit downside risk as the quarter progresses.

Credo Has Catalysts to Drive Price Action This YearCredo’s most visible stock price catalyst is its upcoming fiscal Q1 2027 earnings release, scheduled for early September. Consensus forecasts another triple-digit revenue gain, and outperformance is likely. Nearly 80% of revenue and earnings revisions have been upward, forecasting results in the high-end range. More importantly, this company is already profitable and expected to experience margin improvement linked to revenue leverage. Consensus pegs earnings per share growth will come in over 120%, about 1,200 basis points higher than revenue growth.

Reasons to believe Credo Technologies will outperform its estimates, potentially exceeding the high end of the range, include surging demand for GPUs and AI capacity, new product/revenue engines, and exceptional margins. Scaling revenue resulted in significant improvements in prior quarters and is likely to have continued into fiscal Q4. Other catalysts include results or news from hyperscalers affirming that the data center outlook continues to grow.

The biggest risks are customer concentration and valuation; however, customers include major hyperscalers that continue to ramp up AI spending, and the valuation reflects growth. In this light, Credo is shifting from an emerging-tech story to an execution story, and the company appears to be executing well.

Should You Invest $1,000 in Credo Technology Group Right Now?Before you consider Credo Technology Group, you'll want to hear this.

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The Zacks Aerospace-Defense Equipment industry is benefiting from strategic acquisitions and long-term growth in global air travel, which are driving demand for aircraft parts, maintenance services, and aftermarket solutions. While global passenger traffic is expected to grow over the long term, creating opportunities for aerospace suppliers, the industry continues to face significant headwinds, including supply-chain disruptions, labor shortages, higher operating costs, and a global aircraft shortage. These constraints could weigh on near-term growth and profitability across the sector. Some key players from this industry that investors may add to their portfolio are HEICO Corporation (HEI - Free Report) , Axon Enterprise (AXON - Free Report) and AAR Corp. (AIR - Free Report) .

About the Industry The Zacks Aerospace-Defense Equipment industry comprises firms that manufacture various vital components for the aerospace-defense space, ranging from aerostructures, space shuttles, propulsion systems, aircraft engines, defense electronics, missile and radar systems to flight test equipment, structural adhesives, instrumentation and control systems, communication products and many more. Some of these companies also offer integrated simulation and training services to the U.S. defense force. While most revenues are generated from the production of the aforementioned accompaniments, industry players also generate revenues by providing notable aftermarket support and services like maintenance, repair and overhaul activities to aerospace and defense players.

3 Trends Shaping the Future of the Aerospace-Defense Equipment Industry New Mergers and Acquisitions (M&As) Instill Hope: Large companies have traditionally used M&As as a successful strategy to broaden their product offerings. By acquiring other businesses, they can quickly expand their capabilities and stay competitive. In April 2026, AAR completed the acquisition of Aircraft Reconfig Technologies from ZIM Aircraft Cabin Solutions. This adds the FAA Organization Designation Authorization to AAR’s Engineering Services capabilities, which will enable AAR to issue supplemental type certificates and Parts Manufacturer Approval without depending on third parties. In April 2026, TransDigm Group completed the acquisition of Jet Parts Engineering and Victor Sierra Aviation Holdings. This strengthens TransDigm's core aerospace aftermarket business by adding proprietary replacement parts and repair solutions that generate recurring, high-margin revenues. Such consolidations help provide access to a broader range of business models, while improved economies of scale across the sector should support market expansion and revenue growth.

Air Traffic View Boosts Opportunities: According to a report by the International Air Transport Association (“IATA”), global air passenger demand is expected to grow 2.1% year over year in 2026. This marks a significant deceleration from the 5.3% growth recorded in 2025. The Middle East region faces a deep traffic contraction due to strictly closed airspaces, forcing massive traffic rerouting. However, according to IATA’s long-term outlook, global air passenger demand is expected to more than double by 2050, growing at a compound annual growth rate (CAGR) of 3.1% to reach 20.8 trillion Revenue Passenger Kilometers (RPKs). The report also stated that different scenarios are driven by alternative modeling of long-term economic growth, populations, aviation fuel price trends, the global energy transition, and air transport supply-side capacity development. As passenger traffic increases, airlines fly their existing fleets more frequently. This higher utilization accelerates wear and tear on aircraft, engines and components, boosting demand for replacement parts, avionics, landing systems and other equipment.

Supply-Chain Disruption Poses Risks: According to IATA, airlines are facing higher operating costs because supply-chain problems have made spare parts more expensive and harder to obtain. Airport fees, air traffic charges, and aircraft ownership costs have also increased. With new aircraft in short supply, airlines are leasing older, mid-life planes at higher rates. These older aircraft also consume more fuel, further increasing overall expenses. IATA has highlighted that limited aircraft availability and labor shortages remain key supply-side challenges, while broader disruptions continue to delay the timely production and delivery of essential systems.

Per IATA, ongoing disruptions to global supply chains and operational constraints linked to the Middle East conflict are adding pressure to an already tight market, reinforcing the existing aircraft shortage. Aircraft deliveries have fallen well below the level expected if the industry had continued growing at its pre-pandemic pace, creating an estimated shortage of about 5,600 aircraft. The total order backlog reached 18,100 aircraft in May 2026, equal to almost 60% of the active fleet. The reduced pace of jet deliveries and limited availability of materials for aircraft manufacturing may compel OEMs to cut production, potentially weighing on near-term earnings and cash flow across the aerospace and defense equipment industry.

Zacks Industry Rank Reflects Bright Outlook The Zacks Aerospace-Defense Equipment industry is housed within the broader Zacks Aerospace sector. It currently carries a Zacks Industry Rank #55, which places it in the top 22% of more than 247 Zacks industries.

The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates robust near-term prospects. 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.

Before we present a few aerospace-defense equipment stocks that you may want to add to your portfolio, let’s take a look at the industry’s recent stock market performance and valuation picture.

Industry Beats Sector, Lags S&P 500 The Aerospace-Defense Equipment industry has underperformed the Zacks S&P 500 composite but outperformed the sector over the past year. The stocks in this industry have collectively surged 21% over the past year, while the Aerospace sector has soared 8.5%. The Zacks S&P 500 composite has gained 28.4% in the same time frame.

One-Year Price Performance

Industry's Current Valuation On the basis of trailing 12-month EV/Sales, which is used for valuing capital-intensive stocks like aerospace-defense equipment, the industry is currently trading at 15.06X compared with the S&P 500’s 5.87X and the sector’s 3.33X.

Over the past five years, the industry has traded as high as 15.6X, as low as 6.1X and at the median of 8.39X.

EV-Sales Ratio TTM

3 Aerospace-Defense Equipment Stocks to Buy HEICO: Florida-based HEICO is one of the world’s leading manufacturers of FAA-approved jet engine and aircraft component replacement parts. It also manufactures various types of electronic equipment for the aviation, defense, space, medical, telecommunications and electronics industries. In June 2026, HEICO announced that its Exxelia subsidiary acquired 90% of the ownership of CalRamic Technologies, LLC. The company is expected to benefit by expanding its aerospace and defense electronics portfolio with specialized high-voltage capacitors, supporting future revenue and earnings growth.

The Zacks Consensus Estimate for HEI’s fiscal 2026 sales indicates a 15.8% improvement year over year. The estimate for fiscal 2026 earnings implies 18% year-over-year growth. HEI currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. 

Price & Consensus: HEI

Axon Enterprise: Based in Scottsdale, AZ, Axon develops and manufactures weapons for U.S. state and local governments, the U.S. federal government, international government customers and commercial enterprises. Given the rising global demand for Counter-Unmanned Aircraft Systems (“CUAS”), Axon is also expected to witness strong demand for its Dedrone platform from NATO’s airspace defense agencies. Recently, the company launched Dedrone C2, an upgraded counter-drone platform featuring improved sensor fusion for better drone detection, integrated mitigation management capabilities, and broader compatibility with third-party sensors and countermeasure systems, giving customers a flexible, end-to-end drone defense solution.

The Zacks Consensus Estimate for AXON’s 2026 sales indicates a 31% improvement year over year. The estimate for 2026 earnings implies 18.1% growth year over year. AXON currently carries a Zacks Rank #1.

Price & Consensus: AXON

AAR: Based in Wood Dale, IL, the company provides various products and services to the aviation and defense industries worldwide. AAR's decision to reorganize its business and wind down its Legacy Commercial Programs segment is aimed at improving profitability, cash flow, and returns on capital. The Legacy Commercial Programs business required significant investments in aircraft components and assets while generating relatively low profits, making it less attractive than AAR’s higher-margin businesses. By gradually exiting this segment over the next three to four years and focusing on areas such as parts supply, MRO services, software, and government solutions, AAR expects to simplify its business model, boost margins, free up capital for growth initiatives, and improve overall shareholder returns.

The Zacks Consensus Estimate for AIR’s fiscal 2026 sales indicates a 17.7% improvement year over year. The estimate for 2026 earnings implies 27.1% growth year over year. AIR currently carries a Zacks Rank #2 (Buy).

Price & Consensus: AIR

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

NEW YORK--(BUSINESS WIRE)--MSCI Inc. (“MSCI” or the “Company”) (NYSE: MSCI) will host a Q&A webinar to provide updates on MSCI’s Private Assets business, including strategic priorities, recent product innovation and AI-enabled capabilities. The webinar will include Luke Flemmer, Head of Private Assets and Jeremy Ulan, Head of Investor Relations and Treasurer, and will be moderated by Alex Kramm, Managing Director and Senior Equity Research Analyst at UBS.

The virtual event will be available as a webcast and replay on June 25, 2026 at 9:30 AM Eastern Time, accessible from the events and presentations section of MSCI’s Investor Relations homepage, https://ir.msci.com/events-and-presentations.

About MSCI Inc.

MSCI Inc. (NYSE: MSCI) strengthens global markets by connecting participants across the financial ecosystem with a common language. Our research-based data, analytics and indexes, supported by advanced technology, set standards for global investors and help our clients understand risks and opportunities so they can make better decisions and unlock innovation. We serve asset managers and owners, private-market sponsors and investors, hedge funds, wealth managers, banks, insurers and corporates. To learn more, please visit www.msci.com. MSCI#IR

More News From MSCI Inc.

NEW YORK--(BUSINESS WIRE)--MSCI Inc. (NYSE: MSCI) is enhancing its global physical climate risk capabilities with the acquisition of First Street, a leading provider of physics-based climate risk data and analytics for every property in the world.

Investors, financial institutions and companies are demanding physical climate risk insights embedded directly into investment and risk workflows to inform critical financial decision making, as climate-related physical risks accelerate globally. First Street’s own research shows that companies have become more than 6.5 times as likely to issue profit warnings following extreme weather events in the past two decades.i

The integration of First Street’s data and tools into MSCI’s extensive climate and geospatial solutions will enable quantified assessments of financially relevant physical climate risk at any geographic coordinate and across more than 2 billion structures worldwide.ii

These additional capabilities can help institutions meet rising regulatory and reporting requirements while supporting physical risk management and adaptation and resilience planning.

First Street provides multi-hazard models that incorporate climate signals and are validated against observed events to assess current and future physical risk exposure, asset damage and business interruption.

Powered by proprietary data on building characteristics, infrastructure dependencies and site-level adaptation, these models translate physical hazards into measurable financial impact estimates. The interactive platform delivers these insights through visualizations and on-demand, customizable analytics for individual properties, companies and portfolios within one unified AI-enabled workflow.

As extreme weather and geopolitical disruption are making asset location a critical factor in evaluating investment risk and opportunity, the ability of banks, insurance companies, asset managers, asset owners and companies to analyze and act upon location-based risks could be a key determinant of future success. This trend is reflected in major European central banks’ use of MSCI data to enable them to better identify climate risks across their loan books.

The acquisition further strengthens MSCI’s long-established leadership in climate investment tools and research, building on decades of expertise in geospatial intelligence, climate scenario analysis and transition finance to deliver greater transparency, innovation and scalability.

Richard Mattison, Head of Sustainability and Climate at MSCI, said: “The financial consequences of where assets are located have come into sharp focus due to the recent geopolitical turmoil, supply chain disruption and the growing impact of climate hazards. In response, investors, lenders and insurers are increasingly looking for more in-depth and actionable analysis of the physical risk held in the footprint of a company’s operations and investments.

“The integration of First Street data into MSCI’s existing geospatial capabilities will enable clients to be better informed about their changing risk exposures and translate that directly into financial decision-making.”

Matthew Eby, Founder and CEO at First Street, said: “First Street was built on the simple conviction that every financial decision should account for a changing climate. We built the Climate Risk Financial Modeling (CRFM) category to turn that conviction into reality. Joining MSCI puts our property-level science in front of the world’s leading investors, lenders and insurers and turns climate risk from a disclosure exercise into a daily input for how capital is priced and allocated.”

The transaction consideration includes a cash payment of $120 million at closing (subject to customary closing adjustments), with the potential for additional cash payments during the first two years following closing if certain revenue thresholds are achieved. The transaction is expected to close in the third quarter of 2026, subject to regulatory approvals and customary closing conditions. Following closing, First Street's financial results will be reported within MSCI's Sustainability and Climate segment.

About MSCI

MSCI Inc. (NYSE: MSCI) strengthens global markets by connecting participants across the financial ecosystem with a common language. Our research-based data, analytics and indexes, supported by advanced technology, set standards for global investors and help our clients understand risks and opportunities so they can make better decisions and unlock innovation. We serve asset managers and owners, private-market sponsors and investors, hedge funds, wealth managers, banks, insurers and corporates. To learn more, please visit www.msci.com. #IR

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future events or performance and involve risks that may cause actual results or performance to differ materially, and you should not place undue reliance on them. Risks that could affect results or performance are in MSCI’s Annual Report on Form 10-K for the most recent fiscal year ended on December 31 that is filed with the SEC. MSCI does not undertake to update any forward-looking statements. No information herein constitutes investment advice or should be relied on as such. MSCI grants no right or license to use its products or services without an appropriate license. MSCI MAKES NO EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR OTHERWISE WITH RESPECT TO THE INFORMATION HEREIN AND DISCLAIMS ALL LIABILITY TO THE MAXIMUM EXTENT PERMITTED BY LAW.

i The New Cost of Doing Business, 16 Risk Assessment, by First Street, March 2026.
ii Since September 2025.

More News From MSCI Inc.

For Immediate ReleaseChicago, IL – June 23, 2026 – Today, Zacks Equity Research Weyerhaeuser Co. (WY - Free Report) , Trex Company, Inc. (TREX - Free Report) and Worthington Enterprises, Inc. (WOR - Free Report) .

Industry: Wood

Link: https://www.zacks.com/commentary/2940224/3-wood-stocks-positioned-to-thrive-through-industry-challenges

The Zacks Building Products – Wood industry continues to face a tough operating environment. Elevated construction costs, the risk of project delays and ongoing affordability challenges are weighing on housing demand. Concerns around tariffs are adding pressure to global trade flows. Higher tariffs on Canadian lumber imports and lower import volumes from certain overseas suppliers are tightening the available supply. At the same time, spending on home repair and remodeling has eased from pandemic highs as higher mortgage rates strain household budgets. With homeownership becoming less accessible, demand conditions remain subdued for industry participants.

That said, underlying demand for essential replacements, home upgrades and the modernization of aging housing stock remains intact. Increased investments in infrastructure, along with rising focus on carbon and ESG-related projects, are providing some support. While high mortgage rates and cautious consumer spending continue to pose risks, disciplined cost control, product innovation and strategic acquisitions are expected to aid companies such as Weyerhaeuser Co. , Trex Company, Inc. and Worthington Enterprises, Inc.

Industry DescriptionThe Zacks Building Products – Wood industry includes forest product companies and manufacturers of lumber as well as other wood products used in home construction, repair and remodeling, along with the development of outdoor structures. Companies in the industry design, manufacture, source and sell flooring products like tile, wood, laminate, vinyl and natural stone flooring products, as well as decorative and installation accessories.

The industry players are also involved in the manufacturing and distribution of wood and plastic composite products, along with related accessories, mainly for residential decking and railing applications. The industry also includes timberland real estate investment trusts, or REITs.

4 Trends Shaping the Future of Building Products - Wood IndustryHigh Rates, Trade Policy and Tariffs: The industry’s prospects are highly correlated with the U.S. housing and the R&R market (considered one of the largest in terms of lumber demand) conditions. The U.S. housing market remained constrained by elevated interest rates and subdued consumer confidence. Buyer urgency was low in both new and existing home markets, and large public builders continued to use rate buydowns to stimulate demand. Economic uncertainty and ongoing weakness in home sales and building material sales are limiting residential remodeling.

Meanwhile, the reimplementation of tariffs on Canadian softwood lumber by President Trump in 2025 presents significant implications for the U.S. wood industry. In January 2026, President Trump’s decision to delay higher tariffs on furniture, kitchen cabinets and vanities until Jan. 1, 2027 offers only limited relief and underscores the ongoing uncertainty weighing on the U.S. wood industry.

Although the White House imposed a 25% tariff on these products in October 2025, steeper increases — to 30% for furniture and 50% for cabinets and vanities — were postponed for one year. Keeping the tariff at 25% through at least 2027 does little to ease cost pressures for domestic wood producers, who continue to face demand volatility, cautious consumer spending and disrupted pricing dynamics across downstream housing and renovation markets.

Rapid Lumber Market Swings: Historically, volatility in lumber prices has been a major concern for the wood industry. Any unusual rise in the cost of lumber products sold by primary producers increases the cost of inventory and limits margins on fixed-priced lumber products. Yet, a decline in costs eats into profits as products sold are indexed to the current lumber market. Meanwhile, the timberland business is governed by federal rules and state forestry commissions, which are subject to frequent changes, affecting businesses. Due to the very nature of their properties, timberland REITs are required to follow eco-friendly mandates in their trade.

Higher Spending on Infrastructure & Carbon/ESG Projects: The potential rate cuts are poised to increase affordability, stimulate residential activity and set the stage for growth in the wood industry. Additionally, government initiatives such as the Infrastructure Investment and Jobs Act and the Inflation Reduction Act are expected to boost infrastructure spending. This emphasis on modernization and clean energy is anticipated to drive growth for companies within the wood sector.

Acquisitions, Product Innovation & Efficient Cost-Reduction Strategies: The companies also bank on acquisitions and divestitures to expand and improve portfolio quality. New products continue to be an important top-line driver for the industry players. Also, efforts to introduce products are likely to have helped the players.

Again, in a bid to reduce costs, companies have been reducing the cost structure of their facilities through the sale or shutdown of underperforming units and manufacturing facilities, as well as investments in technology. Also, the industry players have been focusing on operational excellence, comprising merchandising for value, harvest, and transportation efficiencies and boosting harvest to capture seasonal and short-term opportunities.

Zacks Industry Rank Indicates Dull ProspectsThe Zacks Building Products – Wood industry is a nine-stock group within the broader Construction sector. The Zacks Wood industry currently carries a Zacks Industry Rank #206, which places it in the bottom 17% of more than 250 Zacks industries.

The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates bleak near-term prospects. 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.

The industry’s positioning in the bottom 50% of the Zacks-ranked industries is a result of a lower earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are gradually losing confidence in this group’s earnings growth potential. Since March 2026, the industry’s earnings estimates for 2026 have decreased to $1.99 per share from $2.03.

Despite the industry’s blurred near-term view, we will present a few stocks that one may consider adding to their portfolio. Before that, it’s worth taking a look at the industry’s shareholder returns and current valuation.

Industry Lags Sector, S&P 500The Zacks Building Products – Wood industry has underperformed the broader Zacks Construction sector and the Zacks S&P 500 Composite over the past year.

Over this period, the industry has gained 10% compared with the broader sector’s 24.6% rise. The Zacks S&P 500 Composite has gained 28.2% over this period.

Industry's Current ValuationOn the basis of the forward 12-month price-to-earnings ratio, which is a commonly used multiple for valuing wood stocks, the industry trades at 27.2 compared with the S&P 500’s 21.34 and the sector’s 21.73.

Over the last five years, the industry has traded as high as 29.47X, as low as 10.18X and at a median of 18.62X.

3 Wood Stocks to Keep an Eye OnWe have highlighted three stocks from the industry that have been capitalizing on fundamental strengths.

Worthington: Headquartered in Columbus, OH, Worthington is an industrial manufacturing company. The company is benefiting from a combination of product innovation, operational improvements and strategic acquisitions. Also, rising demand for its ASME water tanks used in liquid-cooled data centers, with management highlighting a rapidly expanding pipeline and expecting multi-year growth as AI-driven data center construction accelerates, is encouraging.

Worthington is also expanding market share through new product launches, higher production capacity and acquisitions such as LSI, which strengthens its engineered building systems portfolio. At the same time, the Worthington Business System, AI-enabled process improvements and automation are helping improve efficiency, support margin expansion and drive sustainable organic growth.

Worthington — a Zacks Rank #3 (Hold) company — has gained 3.4% over the past year. The Zacks Consensus Estimate for WOR’s fiscal 2026 and 2027 earnings per share (EPS) calls for 11.1% and 14.8% growth, respectively. Worthington’s earnings surpassed the consensus mark in two of the last four reported quarters and missed on two occasions, with the average being 6.4%. It also has a VGM Score of B. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Weyerhaeuser: A major private timberland owner, Weyerhaeuser was founded in Washington in 1900. Weyerhaeuser is strengthening its long-term growth outlook through product innovation, strategic investments and expansion across higher-value businesses. The company expects strong demand for its newly introduced AeroStrand and ProPanel products, while the Monticello Engineered Wood Products facility is set to expand TimberStrand production and support future growth.

Weyerhaeuser is also widening its distribution footprint to penetrate underserved markets and increase proprietary product sales. Beyond wood products, the company sees continued growth from its Strategic Land Solutions and Climate Solutions businesses, supported by steady real estate demand and an expanding renewable energy pipeline. Over the longer term, favorable housing demographics and an underbuilt U.S. housing market remain important demand drivers.

Weyerhaeuser — a Zacks Rank #3 company — has lost 6.4% over the past year. The company has seen an upward estimate revision for 2026 earnings to 32 cents from 26 cents per share over the past 60 days. The Zacks Consensus Estimate for its 2026 EPS implies 60% year-over-year growth. Weyerhaeuser’s earnings surpassed the consensus mark in all the last four reported quarters, with the average being 102.9%.

Trex: Based in Winchester, VA, Trex produces composite decking and railing products. Trex is positioning itself for sustained long-term growth by strengthening its market leadership through innovation, capacity expansion and deeper customer engagement. The company sees a significant opportunity to accelerate the conversion from traditional wood decking, which still represents about 75% of the market, to low-maintenance composite products.

Increased investments in marketing, contractor lead generation and brand awareness are expected to support market-share gains. Trex is also advancing a strong innovation pipeline with category-defining product launches planned between 2027 and 2030. Additional growth drivers include expanded retail shelf space, entry into the PVC decking market, plans to double the railing business within five years and the new Arkansas manufacturing facility, which provides ample capacity for future expansion while supporting stronger free cash flow.

Trex — a Zacks Rank #3 company — has lost 10.4% over the past year. Yet, the company has seen an upward estimate revision for 2026 earnings to $1.68 from $1.63 per share over the past 60 days, depicting analysts’ optimism over the company’s prospects. Trex’s earnings surpassed the consensus mark in three of the last four reported quarters and missed on one occasion, with the average being 127.4%.

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COLUMBUS, Ohio, June 23, 2026 (GLOBE NEWSWIRE) -- Worthington Enterprises Inc. (NYSE: WOR), a designer and manufacturer of market-leading building and consumer products that improve everyday life by elevating spaces and experiences, today reported results for its fiscal 2026 fourth quarter and full-year ended May 31, 2026.

Recent Developments and Highlights (comparisons to the prior-year period unless otherwise stated)

Fourth Quarter fiscal 2026

Net sales were $371.5 million, an increase of 17%, including $44.1 million from recent acquisitions and 3% from organic growth.Net earnings increased to $48.1 million from $3.6 million, while adjusted net earnings were $47.7 million and adjusted EBITDA was $83.5 million.Earnings per share on a fully diluted basis (“EPS – diluted”) improved to $0.97 from $0.08 per share, while adjusted EPS – diluted was $0.97 per share compared to $1.06.Operating cash flow increased $9.2 million to $71.6 million, while free cash flow increased $5.8 million to $55.1 million.Repurchased 350,000 common shares for $18.2 million, leaving 4,565,000 common shares available under the company’s existing repurchase authorization.Declared a quarterly dividend of $0.20 per common share payable on September 29, 2026, to shareholders of record at the close of business on September 15, 2026, representing a 5% increase, or $0.01 per share, compared to the prior quarter. Full-Year fiscal 2026

Net sales were $1.4 billion, an increase of 20%, including $121.7 million from recent acquisitions and 9% from organic growth. Net earnings increased 63% to $155.0 million, while adjusted net earnings increased 8% to $167.6 million and adjusted EBITDA grew 12% to $295.8 million.EPS – diluted improved to $3.14 from $1.92 per share, while adjusted EPS – diluted increased to $3.37 per share from $3.09 per share.Operating cash flow increased 8% to $226.1 million, while free cash flow improved 7% to $170.2 million.Completed the acquisitions of Elgen Manufacturing (“Elgen”) and LSI Group (“LSI”), further expanding the company’s building products portfolio and strengthening its position across the building envelope.
“We closed fiscal 2026 with another quarter of solid performance, delivering positive organic growth and strong free cash flow while continuing to execute our strategy,” said Worthington Enterprises President and CEO Joe Hayek. “For the full year, our teams drove double-digit growth in adjusted EBITDA, expanded margins in our wholly owned businesses and maintained a strong balance sheet. I want to thank my colleagues around the world for their continued commitment to serving our customers and delivering value for our shareholders. Their dedication continues to strengthen our business.”

Financial highlights for the current year and prior year quarters are as follows:

(U.S. dollars in millions, except per share amounts) 4Q 2026  4Q 2025 GAAP Financial Measures      Net sales $371.5  $317.9 Operating income (loss)  23.2   (30.4)Earnings before income taxes  59.8   8.3 Net earnings  48.1   3.6 EPS – diluted  0.97   0.08 Net cash provided by operating activities  71.6   62.4        Non-GAAP Financial Measures (1)      Adjusted operating income $25.5  $21.8 Adjusted EBITDA  83.5   85.1 Adjusted net earnings  47.7   53.1 Adjusted EPS – diluted  0.97   1.06 Free cash flow  55.1   49.3  (1)   Refer to the “GAAP / Non-GAAP Reconciliations” and the “Use of Non-GAAP Financial Measures and Definitions” sections of this release for additional information regarding the use of non-GAAP financial measures and reconciliations to the most directly comparable financial measures calculated and presented in accordance with GAAP.

Consolidated Quarterly Results 

Net sales for the fourth quarter of fiscal 2026 increased $53.6 million, or 16.9%, over the prior year quarter to $371.5 million. Recent acquisitions contributed $44.1 million to net sales in the current year quarter. Excluding the impact of acquisitions, net sales increased $9.5 million, or 3.0%, compared to the prior year quarter.

Operating income increased $53.6 million to $23.2 million. Results in the prior year quarter included nonrecurring items totaling $52.2 million, resulting primarily from the non-cash write-down of intangible assets in the General Tools & Instruments (“GTI”) business. On an adjusted basis, operating income increased $3.7 million in the quarter to $25.5 million, reflecting contributions from recent acquisitions.

Equity in net income of unconsolidated affiliates decreased $4.6 million from the prior year quarter to $38.1 million, primarily due to lower contributions from ClarkDietrich, which were down $6.8 million. Contributions from WAVE remained strong at $32.3 million and were largely consistent with the prior year quarter, while higher contributions from the Workhorse and SES joint ventures partially offset the decline. Equity income in the prior year quarter included a $3.4 million non-cash impairment charge at the SES joint venture.

Income tax expense was $11.7 million in the fourth quarter of fiscal 2026, compared to $4.7 million in the prior year quarter. The increase was driven by higher pre-tax earnings. Income tax expense in the fourth quarter of fiscal 2026 reflects an annual effective rate of 22.9%, compared to 26.1% in the prior year, which was impacted by certain discrete items. On an adjusted basis, the annual effective tax rate was 23.3%, compared to 23.0% in the prior year.

Balance Sheet and Cash Flow

Total debt at quarter end was $305.9 million, consisting entirely of long-term debt, an increase of $3.0 million from May 31, 2025, primarily due to the remeasurement of the company’s euro-denominated notes. The company had no borrowings under its revolving credit facility as of May 31, 2026, leaving $500.0 million available for future use and providing substantial liquidity.

The company ended the quarter with cash of $27.7 million, a decrease of $222.4 million from May 31, 2025, primarily reflecting the acquisitions of Elgen and LSI. During the fourth quarter of fiscal 2026, the company generated operating cash flow of $71.6 million, of which $16.5 million was invested in capital expenditures, resulting in free cash flow of $55.1 million, up from $49.3 million in the prior year quarter. Capital expenditures in the current year quarter included approximately $6.6 million related to ongoing facility modernization projects, which remain on track and are expected to be completed during fiscal 2027.

Quarterly Segment Results

Building Products generated net sales of $245.3 million in the current year quarter, an increase of $53.0 million, or 27.6%, over the prior year quarter. The increase was primarily driven by the impact of acquisitions, which contributed $44.1 million to net sales in the current year quarter. Excluding the impact of acquisitions, net sales increased $8.9 million, or 4.6% compared to the prior year quarter. Adjusted EBITDA decreased $2.7 million, mainly driven by a $6.8 million decline in equity income contributions from ClarkDietrich and less favorable product mix compared to the prior year quarter.

Consumer Products generated net sales of $126.1 million in the current year quarter, up $0.6 million from the prior year quarter, driven by higher average selling prices, which were mostly offset by lower volume. Adjusted EBITDA increased $3.5 million to $24.3 million, driven by gross margin improvement and lower SG&A expense.

Outlook

“As we enter fiscal 2027, we are building on the momentum we created this year,” Hayek said. “Our teams remain focused on innovation, transformation and strategic M&A as we continue to strengthen our market positions, integrate recent acquisitions, expand our capabilities and deliver value for our customers. Supported by strong free cash flow generation and a healthy balance sheet, we are excited about the opportunities ahead and remain focused on creating long-term shareholder value.”

Conference Call

The company will review fiscal 2026 fourth quarter and full-year results during its quarterly conference call on June 24, 2026, at 8:30 a.m. Eastern Time. Details regarding the conference call can be found on the company website at www.WorthingtonEnterprises.com.

About Worthington Enterprises

Worthington Enterprises (NYSE: WOR) is a designer and manufacturer of market-leading brands that improve everyday life by elevating spaces and experiences. The company operates with two primary business segments: Building Products and Consumer Products. The Building Products segment includes heating and cooling, cooking, construction and water solutions, and building systems including HVAC and metal roofing components, architectural and acoustical grid ceilings, and metal framing and accessories. The Consumer Products segment provides solutions for the tools, outdoor living and celebrations categories. Product brands within the Worthington Enterprises portfolio include Balloon Time®, Bernzomatic®, BPD, Coleman® (propane cylinders), CoMet®, Elgen, Garden Weasel®, General®, HALO™, Hawkeye™, LEVEL5 Tools®, Logan Stampings, Mag Torch®, NEXI™, Pactool International®, PowerCore™, Ragasco®, Roof Hugger®, Well-X-Trol® and XLite™, among others.

Headquartered in Columbus, Ohio, Worthington Enterprises and its joint ventures employ approximately 6,000 people throughout North America and Europe.

Founded in 1955 as Worthington Industries, Worthington Enterprises follows a people-first Philosophy with earning money for its shareholders as its first corporate goal. Worthington Enterprises achieves this outcome by empowering its employees to innovate, thrive and grow with leading brands in attractive markets that improve everyday life. The company engages deeply with local communities where it has operations through volunteer efforts and The Worthington Companies Foundation, participates actively in workforce development programs and reports annually on its corporate citizenship and sustainability efforts. For more information, visit worthingtonenterprises.com.

Safe Harbor Statement

Selected statements contained in this release constitute “forward-looking statements,” as that term is used in the Private Securities Litigation Reform Act of 1995 (the “Act”). We wish to take advantage of the safe harbor provisions included in the Act. Forward-looking statements reflect the company’s current expectations, estimates or projections concerning future results or events. These statements are often identified by the use of forward-looking words or phrases such as “believe,” “expect,” “anticipate,” “may,” “could,” “should,” “would,” “intend,” “plan,” “will,” “likely,” “estimate,” “project,” “position,” “strategy,” “target,” “aim,” “seek,” “foresee” and similar words or phrases. These forward-looking statements include, without limitation, statements relating to: future or expected cash positions, liquidity and ability to access financial markets and capital; outlook, strategy or business plans; future or expected growth, growth potential, forward momentum, performance, competitive position, sales, volumes, cash flows, earnings, margins, balance sheet strengths, debt, financial condition or other financial measures; pricing trends for raw materials and finished goods and the impact of pricing changes; the ability to improve or maintain margins; expected demand or demand trends; additions to product lines and opportunities to participate in new markets; expected benefits from transformation and innovation efforts; the ability to improve performance and competitive position; anticipated working capital needs, capital expenditures and asset sales; anticipated improvements and efficiencies in costs, operations, sales, inventory management, sourcing and the supply chain and the results thereof; projected profitability potential; the ability to make acquisitions and the projected timing, results, benefits, costs, charges and expenditures related to acquisitions, joint ventures, headcount reductions and facility dispositions, shutdowns and consolidations; projected capacity and the alignment of operations with demand; the ability to operate profitably and generate cash in down markets; the ability to capture and maintain market share and to develop or take advantage of future opportunities, customer initiatives, new businesses, new products and new markets; expectations for inventories, jobs and orders; expectations for the economy and markets or improvements therein; expectations for generating improving and sustainable earnings, earnings potential, margins or shareholder value; effects of judicial rulings; effects of pandemics and widespread health crises and the various responses of governmental and nongovernmental authorities thereto on economies and markets, and on the company’s customers, counterparties, employees and third-party service providers; and other non-historical matters.

Because they are based on beliefs, estimates and assumptions, forward-looking statements are inherently subject to risks and uncertainties that could cause actual results to differ materially from those projected. Any number of factors could affect actual results, including, without limitation, those that follow: the effect of conditions in national and worldwide financial markets, including inflation, increases in interest rates and economic recession, and with respect to the ability of financial institutions to provide capital; the impact of tariffs, the adoption of trade restrictions affecting the company’s products or suppliers, a United States withdrawal from or significant renegotiation of trade agreements, the occurrence of trade wars, the closing of border crossings, and other changes in trade regulations or relationships; changing oil prices and/or supply; product demand and pricing; changes in product mix, product substitution and market acceptance of the company’s products; volatility or fluctuations in the pricing, quality or availability of raw materials (particularly steel), supplies, transportation, utilities, labor and other items required by operations; effects of sourcing and supply chain constraints; the outcome of adverse claims experience with respect to workers’ compensation, product recalls or product liability, casualty events or other matters; effects of facility closures and the consolidation of operations; the effect of financial difficulties, consolidation and other changes within the steel, automotive, construction and other industries in which we participate; failure to maintain appropriate levels of inventories; financial difficulties (including bankruptcy filings) of original equipment manufacturers, end-users and customers, suppliers, joint venture partners and others with whom we do business; the ability to realize targeted expense reductions from headcount reductions, facility closures and other cost reduction efforts; the ability to realize cost savings and operational, sales and sourcing improvements and efficiencies, and other expected benefits from transformation initiatives, on a timely basis; the overall success of, and the ability to integrate, newly-acquired businesses and joint ventures, maintain and develop their customers, and achieve synergies and other expected benefits and cost savings therefrom; capacity levels and efficiencies, within facilities, within major product markets and within the industries in which we participate as a whole; the effect of disruption in the business of suppliers, customers, facilities and shipping operations due to adverse weather, casualty events, equipment breakdowns, labor shortages, interruption in utility services, civil unrest, international conflicts, terrorist activities or other causes; changes in customer demand, inventories, spending patterns, product choices, and supplier choices; risks associated with doing business internationally, including economic, political and social instability, foreign currency exchange rate exposure and the acceptance of the company’s products in global markets; the ability to improve and maintain processes and business practices to keep pace with the economic, competitive and technological environment; the effect of inflation, interest rate increases and economic recession, which may negatively impact the company’s operations and financial results; deviation of actual results from estimates and/or assumptions used in the application of its significant accounting policies; the level of imports and import prices in the company’s markets; the impact of environmental laws and regulations or the actions of the United States Environmental Protection Agency or similar regulators which increase costs or limit the company’s ability to use or sell certain products; the impact of increasing environmental, greenhouse gas emission and sustainability regulations and considerations; the impact of judicial rulings and governmental regulations, both in the United States and abroad, including those adopted by the United States Securities and Exchange Commission and other governmental agencies as contemplated by the Coronavirus Aid, Relief and Economic Security (CARES) Act, the Consolidated Appropriations Act, 2021, the American Rescue Plan Act of 2021, and the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010; the effect of healthcare laws in the United States and potential changes for such laws, which may increase the company’s healthcare and other costs and negatively impact the company’s operations and financial results; the effects of tax laws in the United States and potential changes for such laws, which may increase the company’s costs and negatively impact the company’s operations and financial results; cyber security risks; the effects of privacy and information security laws and standards; and other risks described from time to time in the company’s filings with the United States Securities and Exchange Commission, including those described in “Part I – Item 1A. – Risk Factors” of the Annual Report on Form 10-K for the fiscal year ended May 31, 2025.

Forward-looking statements should be construed in the light of such risks. We note these factors for investors as contemplated by the Act. It is impossible to predict or identify all potential risk factors. Consequently, readers should not consider the foregoing list to be a complete set of all potential risks and uncertainties. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date made. We do not undertake, and hereby disclaim, any obligation to update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law.

 WORTHINGTON ENTERPRISES, INC.
CONSOLIDATED STATEMENTS OF EARNINGS
(In thousands, except per common share amounts)         Three Months Ended  Twelve Months Ended   May 31,  May 31,   2026  2025  2026  2025 Net sales $371,456  $317,884  $1,381,292  $1,153,762 Cost of goods sold  269,568   224,650   1,003,017   834,727 Gross profit  101,888   93,234   378,275   319,035 Selling, general and administrative expense  77,935   71,454   294,966   268,413 Impairment of long-lived assets  -   50,813   -   50,813 Restructuring and other expense, net  794   1,372   7,100   10,524 Operating income (loss)  23,159   (30,405)  76,209   (10,715)Other income (expense):            Miscellaneous income (expense), net  1,358   (4,031)  (3,244)  (3,222)Interest (expense) income, net  (2,885)  60   (6,248)  (2,090)Equity in net income of unconsolidated affiliates  38,141   42,707   134,631   144,836 Earnings before income taxes  59,773   8,331   201,348   128,809 Income tax expense  11,708   4,717   46,313   33,839 Net earnings  48,065   3,614   155,035   94,970 Net loss attributable to noncontrolling interest  (81)  (263)  (1,050)  (1,083)Net earnings attributable to controlling interest $48,146  $3,877  $156,085  $96,053              Basic            Weighted average common shares outstanding  48,795   49,253   49,073   49,395 Earnings per share attributable to controlling interest $0.99  $0.08  $3.18  $1.94              Diluted            Weighted average common shares outstanding  49,404   49,997   49,716   50,131 Earnings per share attributable to controlling interest $0.97  $0.08  $3.14  $1.92              Cash dividends declared per common share $0.19  $0.17  $0.76  $0.68   WORTHINGTON ENTERPRISES, INC.
CONSOLIDATED BALANCE SHEETS
(In thousands)
      May 31,   2026  2025 Assets      Current assets:      Cash and cash equivalents $27,725  $250,075 Receivables, less allowances of $1,310 and $907, respectively  228,168   215,824 Inventories      Raw materials  110,536   80,522 Work in process  9,490   9,408 Finished products  87,270   79,463 Total inventories  207,296   169,393 Income taxes receivable  20,016   12,720 Prepaid expenses and other current assets  41,269   37,358 Total current assets  524,474   685,370 Investments in unconsolidated affiliates  118,048   129,262 Operating lease assets  42,888   22,699 Goodwill  500,784   376,480 Other intangible assets, net of accumulated amortization of $106,944 and $88,887, respectively  322,761   190,398 Other assets  28,215   20,717 Property, plant and equipment:      Land  8,732   8,703 Buildings and improvements  136,441   132,742 Machinery and equipment  411,030   372,798 Construction in progress  66,509   33,326 Total property, plant and equipment  622,712   547,569 Less: accumulated depreciation  311,818   277,343 Total property, plant and equipment, net  310,894   270,226 Total assets $1,848,064  $1,695,152        Liabilities and equity      Current liabilities:      Accounts payable $115,203  $103,205 Accrued compensation, contributions to employee benefit plans and related taxes  41,728   43,864 Dividends payable  9,814   9,172 Other accrued items  45,832   34,478 Current operating lease liabilities  7,982   6,014 Income taxes payable  867   109 Total current liabilities  221,426   196,842 Other liabilities  56,657   53,364 Distributions in excess of investment in unconsolidated affiliate  105,349   103,767 Long-term debt  305,896   302,868 Noncurrent operating lease liabilities  35,883   17,173 Deferred income taxes, net  95,813   82,901 Total liabilities  821,024   756,915 Shareholders' equity - controlling interest  1,027,040   937,187 Noncontrolling interest  -   1,050 Total equity  1,027,040   938,237 Total liabilities and equity $1,848,064  $1,695,152   WORTHINGTON ENTERPRISES, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
         Three Months Ended  Twelve Months Ended   May 31,  May 31,   2026  2025  2026  2025 Operating activities:            Net earnings $48,065  $3,614  $155,035  $94,970 Adjustments to reconcile net earnings to net cash provided by operating activities:            Depreciation and amortization  15,870   12,555   57,272   48,262 Impairment of long-lived assets  -   50,813   -   50,813 Provision for (benefit from) deferred income taxes  627   (7,568)  8,439   (18,439)Impairment of investment in note receivable  -   5,000   -   5,000 Bad debt expense (income)  246   (31)  358   3,158 Equity in net income of unconsolidated affiliates, net of distributions  (3,630)  (2,041)  5,361   8,769 Net loss on sale of assets  295   824   3,290   277 Stock-based compensation  3,230   3,399   13,734   16,186 Unrealized (gain) loss on investment in marketable securities  (610)  -   975   - Changes in assets and liabilities, net of impact of acquisitions:            Receivables  3,836   (13,238)  7,706   (22,261)Inventories  (9,858)  (4,058)  (11,557)  11,500 Accounts payable  7,185   13,219   3,820   619 Accrued compensation and employee benefits  (1,166)  6,435   (1,986)  1,807 Other operating items, net  7,511   (6,509)  (16,328)  9,083 Net cash provided by operating activities  71,601   62,414   226,119   209,744              Investing activities:            Investment in property, plant and equipment  (16,492)  (13,086)  (55,913)  (50,580)Acquisitions, net of cash acquired  278   (6,862)  (304,148)  (95,018)Proceeds from sale of assets, net of selling costs  227   11   245   13,455 Investment in non-marketable equity securities, net of distributions  (138)  (85)  (251)  (2,958)Net cash used by investing activities  (16,125)  (20,022)  (360,067)  (135,101)             Financing activities:            Dividends paid  (9,350)  (8,396)  (36,890)  (33,903)Purchase of common shares  (18,382)  (9,831)  (43,710)  (30,883)Net repayments of short-term borrowings  (4,792)  -   -   - Principal payments on long-term obligations  (1,094)  -   (1,854)  - Proceeds from issuance of common shares, net of tax withholdings  (112)  3,066   (5,948)  (4,007)Net cash used by financing activities  (33,730)  (15,161)  (88,402)  (68,793)Increase (decrease) in cash and cash equivalents  21,746   27,231   (222,350)  5,850 Cash and cash equivalents at beginning of period  5,979   222,844   250,075   244,225 Cash and cash equivalents at end of period $27,725  $250,075  $27,725  $250,075   WORTHINGTON ENTERPRISES, INC.
SEGMENT INFORMATION
(Dollars in thousands)         Three Months Ended  Twelve Months Ended   May 31,  May 31,   2026  2025  2026  2025 Net sales            Building Products $245,309  $192,316  $861,456  $654,137 Consumer Products  126,147   125,568   519,836   499,625 Consolidated $371,456  $317,884  $1,381,292  $1,153,762              Adjusted EBITDA            Building Products $68,544  $71,253  $240,310  $212,831 Consumer Products  24,270   20,791   91,157   82,676 Total reportable segments  92,814   92,044   331,467   295,507 Other (1)  (228)  638   (5,309)  (2,672)Unallocated Corporate  (9,063)  (7,622)  (30,330)  (27,869)Consolidated $83,523  $85,060  $295,828  $264,966              Adjusted EBITDA margin            Building Products  27.9%  37.0%  27.9%  32.5%Consumer Products  19.2%  16.6%  17.5%  16.5%Consolidated  22.5%  26.8%  21.4%  23.0%             Equity income by unconsolidated affiliate            WAVE (2) $32,285  $32,622  $118,063  $110,100 ClarkDietrich (2)  6,084   12,836   21,877   40,795 Other (1)  (228)  (2,751)  (5,309)  (6,059)Consolidated $38,141  $42,707  $134,631  $144,836  (1)   Other includes the equity in net income of unconsolidated affiliates of the Workhorse and the SES joint ventures.

(2)   Equity income contributed by the WAVE and ClarkDietrich joint ventures is included in Building Products segment results.

 WORTHINGTON ENTERPRISES, INC.
GAAP / NON-GAAP RECONCILIATIONS
(Dollars in thousands, except per share amounts) For more information regarding the non-GAAP financial measures, refer to the “Use of Non-GAAP Financial Measures and Definitions” section of this release.
 Consolidated Results – Adjusted Earnings per Share – Diluted
    Three Months Ended May 31, 2026     Earnings                 Before  Income        Effective  Operating  Income  Tax  Net  Diluted  Tax  Income  Taxes  Expense  Earnings(1)  EPS(1)  Rate(1) GAAP$23,159  $59,773  $11,708  $48,146  $0.97   19.6%Amortization of inventory step-up(2) 1,500   1,500   (321)  1,179   0.02    Restructuring and other expense, net(3) 794   794   (133)  661   0.02    Non-cash gains in miscellaneous income, net(4) -   (610)  157   (453)  -    Discrete tax item(8) -   -   (1,837)  (1,837)  (0.04)   Non-GAAP$25,453  $61,457  $13,842  $47,696  $0.97   22.5%  Three Months Ended May 31, 2025     Earnings              Operating  Before  Income        Effective  Income  Income  Tax  Net  Diluted  Tax  (Loss)  Taxes  Expense  Earnings(1)  EPS(1)  Rate(1) GAAP$(30,405) $8,331  $4,717  $3,877  $0.08   54.9%Impairment of long-lived assets(3) 50,813   50,813   (10,387)  40,426   0.81    Restructuring and other expense, net(3) 1,372   1,372   (164)  1,208   0.02    Non-cash losses in miscellaneous expense, net(4) -   5,000   -   5,000   0.10    Non-recurring loss in equity income(5) -   3,387   (801)  2,586   0.05    Non-GAAP$21,780  $68,903  $16,069  $53,097  $1.06   23.2%  Twelve Months Ended May 31, 2026     Earnings                 Before  Income        Effective  Operating  Income  Tax  Net  Diluted  Tax  Income  Taxes  Expense  Earnings(1)  EPS(1)  Rate(1) GAAP$76,209  $201,348  $46,313  $156,085  $3.14   22.9%Amortization of inventory step-up(2) 5,151   5,151   (1,209)  3,942   0.08    Restructuring and other expense, net(3) 7,100   7,100   (1,425)  5,675   0.12    Non-cash losses in miscellaneous expense, net(4) -   3,925   (229)  3,696   0.07    Discrete tax item(8) -   -   (1,837)  (1,837)  (0.04)   Non-GAAP$88,460  $217,524  $51,013  $167,561  $3.37   23.3%  Twelve Months Ended May 31, 2025     Earnings              Operating  Before  Income        Effective  Income  Income  Tax  Net  Diluted  Tax  (Loss)  Taxes  Expense  Earnings(1)  EPS(1)  Rate(1) GAAP$(10,715) $128,809  $33,839  $96,053  $1.92   26.1%Amortization of inventory step-up(2) 1,477   1,477   (350)  1,127   0.02    Impairment of long-lived assets(3) 50,813   50,813   (10,387)  40,426   0.81    Restructuring and other expense, net(3) 10,524   10,524   (796)  9,728   0.19    Non-cash losses in miscellaneous expense, net(4) -   5,000   -   5,000   0.10    Non-recurring loss in equity income(5) -   3,387   (801)  2,586   0.05    Non-GAAP$52,099  $200,010  $46,173  $154,920  $3.09   23.0% Consolidated Results – Adjusted EBITDA

  Three Months Ended  Twelve Months Ended   May 31,  May 31,   2026  2025  2026  2025 Net earnings (GAAP) $48,065  $3,614  $155,035  $94,970 Plus: Net loss attributable to noncontrolling interest  81   263   1,050   1,083 Net earnings attributable to controlling interest  48,146   3,877   156,085   96,053 Interest expense (income), net  2,885   (60)  6,248   2,090 Income tax expense  11,708   4,717   46,313   33,839 EBIT(6)  62,739   8,534   208,646   131,982 Amortization of inventory step-up(2)  1,500   -   5,151   1,477 Impairment of long-lived assets(3)  -   50,813   -   50,813 Restructuring and other expense, net(3)  794   1,372   7,100   10,524 Non-cash (gains) losses in miscellaneous (income) expense, net(4)  (610)  5,000   3,925   5,000 Non-recurring loss in equity income(5)  -   3,387   -   3,387 Adjusted EBIT(6)  64,423   69,106   224,822   203,183 Depreciation and amortization  15,870   12,555   57,272   48,262 Stock-based compensation(7)  3,230   3,399   13,734   13,521 Adjusted EBITDA (non-GAAP) $83,523  $85,060  $295,828  $264,966              Net earnings margin (GAAP)  12.9%  1.1%  11.2%  8.2%Adjusted EBITDA margin (non-GAAP)  22.5%  26.8%  21.4%  23.0% (1)   Excludes the impact of noncontrolling interest.

(2)   Reflects the amortization of the step-up to fair market value of acquired inventory related to the LSI and Elgen acquisitions in fiscal 2026 and the Ragasco acquisition in fiscal 2025.

(3)   Significant pre-tax impairment and restructuring charges include the following:

Impairment of long-lived assets: Non-cash charge of $50,050 in the fourth quarter of 2025 related to the write-down of intangible assets associated with GTI.Restructuring and other expense, net: A charge of $4,536 in fiscal 2025 related to an increase in the fair value of the contingent liability associated with the Ragasco earnout. (4)   Reflects the following non-cash activity in miscellaneous (income) expense, net:

A loss of $2,950 incurred during the second quarter of fiscal 2026 in connection with the divestiture of the company’s 49% interest in the composite assets of its SES joint venture on October 16, 2025. In exchange for the company’s interest in the divested assets, it received common shares of both Hexagon Composites and Hexagon Purus.Unrealized (gains) losses during fiscal 2026 associated with the marketable securities noted directly above.A pre-tax charge of $5,000 during the fourth quarter of fiscal 2025 to write down an investment in a note receivable that was determined to be other than temporarily impaired. (5)   Reflects a non-cash impairment charge of $3,387 at the SES joint venture during the fourth quarter of fiscal 2025

(6)   EBIT and adjusted EBIT are non-GAAP financial measures. However, these measures are not used by management to evaluate the company’s performance, engage in financial and operational planning, or to determine incentive compensation. Instead, they are included as subtotals in the reconciliation of net earnings to adjusted EBITDA, which is a non-GAAP financial measure used by management.

(7)   Excludes $2,665 of stock-based compensation reported in restructuring and other expense, net in the company’s consolidated statement of earnings during fiscal 2025 related to the accelerated vesting of certain outstanding equity awards upon retirement of a key employee.

(8)   Reflects the release of a FIN 48 reserve associated with a non-recurring gain recognized in fiscal 2021.

Consolidated Results - Free Cash Flow

The following tables provide a reconciliation of net cash provided by operating activities to free cash flow and the calculation of operating cash flow conversion to free cash flow conversion for the three and 12 months ended May 31, 2026 and 2025.

  Three Months Ended  Twelve Months Ended   May 31,  May 31,   2026  2025  2026  2025 Net cash provided by operating activities (GAAP) $71,601  $62,414  $226,119  $209,744 Investment in property, plant, and equipment  (16,492)  (13,086)  (55,913)  (50,580)Free cash flow (non-GAAP) $55,109  $49,328  $170,206  $159,164              Net earnings attributable to controlling interest (GAAP) $48,146  $3,877  $156,085  $96,053 Adjusted net earnings attributable to controlling interest (non-GAAP) $47,696  $53,097  $167,561  $154,920              Operating cash flow conversion (GAAP)(1)  149%  1,610%  145%  218%Free cash flow conversion (non-GAAP)  116%  93%  102%  103% (1)   Operating cash flow conversion is defined as net cash provided by operating activities divided by net earnings attributable to controlling interest.

WORTHINGTON ENTERPRISES, INC.
USE OF NON-GAAP FINANCIAL MEASURES AND DEFINITIONS

NON-GAAP FINANCIAL MEASURES. These materials include certain financial measures that are not calculated and presented in accordance with accounting principles generally accepted in the United States (“GAAP”). Non-GAAP financial measures typically exclude items that management believes are not reflective of, and thus should not be included when evaluating the performance of the company’s ongoing operations. Management uses these non-GAAP financial measures to evaluate ongoing performance, engage in financial and operational planning, and determine incentive compensation. Management believes these non-GAAP financial measures provide useful supplemental information regarding the performance of the company’s ongoing operations and should not be considered as an alternative to the comparable GAAP financial measure. Additionally, management believes these non-GAAP financial measures allow for meaningful comparisons and analysis of trends in the company’s businesses and enables investors to evaluate operations and future prospects in the same manner as management.

The following provides an explanation of each non-GAAP financial measure presented in these materials:

Adjusted operating income (loss) is defined as operating income (loss) excluding the items listed below, to the extent naturally included in operating income (loss).

Adjusted net earnings is defined as net earnings attributable to controlling interest excluding the after-tax effect of the excluded items outlined below.

Adjusted EPS – diluted is defined as adjusted net earnings divided by diluted weighted-average common shares outstanding for the applicable period.

Adjusted EBITDA is the measure by which management evaluates segment performance and overall profitability. EBITDA is defined as earnings before interest, taxes, depreciation, and amortization. Adjusted EBITDA excludes additional items including, but not limited to, those listed below, as well as other items that management believes are not reflective of, and thus should not be included when evaluating the performance of ongoing operations. Adjusted EBITDA also excludes stock-based compensation due to its non-cash nature, which is consistent with how management assesses operating performance and determines incentive compensation. At the segment level, adjusted EBITDA includes expense allocations for centralized corporate back-office functions that exist to support the day-to-day business operations. Public company and other governance costs are held at the corporate level within the unallocated corporate and other category.

Adjusted EBITDA margin is calculated by dividing adjusted EBITDA by net sales.

Free cash flow is a non-GAAP financial liquidity measure that is used by the company to assess its ability to generate cash beyond what is required for its business operations and capital expenditures. The company defines free cash flow as net cash flows from operating activities less investment in property, plant, and equipment.

Free cash flow conversion is a non-GAAP financial measure that is used by the company to measure how much of its adjusted net earnings attributable to controlling interest is converted into cash. The company defines free cash flow conversion as free cash flow divided by adjusted net earnings.

EXCLUSIONS FROM NON-GAAP FINANCIAL MEASURES

Management believes it is useful to exclude the following items from its non-GAAP financial measures for its own and investors’ assessment of the business for the reasons identified below. Additionally, management may exclude other items from non-GAAP financial measures that do not occur in the ordinary course of the company’s ongoing business operations and note them in the reconciliation from net earnings to the non-GAAP financial measure adjusted EBITDA.

Amortization of inventory step-up represents the increase in inventory fair value associated with the company’s acquisitions. The increase in inventory fair value is amortized to cost of sales over the period that the related inventory is sold. The amortization of inventory step-up is excluded because it is a non-cash expense that is not indicative of ongoing operating results.Impairment charges are excluded because they do not occur in the ordinary course of the company’s ongoing business operations, are inherently unpredictable in timing and amount, and are non-cash, which management believes facilitates the comparison of historical, current and forecasted financial results.Restructuring activities consist of established programs that are intended to fundamentally change the company’s operations, and as such are excluded from its non-GAAP financial measures. The company’s restructuring programs may include closing or consolidating production facilities or moving manufacturing of a product to another location, realignment of the management structure of a business unit in response to changing market conditions or general rationalization of headcount. The company’s restructuring activities generally give rise to employee-related costs, such as severance pay, and facility-related costs, such as exit costs and gains or losses on asset disposals but may include other incremental costs associated with the company’s restructuring activities. Restructuring and other expense, net, may also include other nonrecurring items included in operating income but incremental to the company’s normal business activities. These items are excluded because they are not indicative of the ongoing operations of the company’s underlying business.Non-cash (gains) losses in miscellaneous (income) expense are excluded due to their non-cash nature and the fact that they do not occur in the normal course of business and may obscure analysis of trends and financial performance.Non-recurring loss in equity income is excluded because it does not occur in the normal course of business and is inherently unpredictable in timing and amount. Sonya L. Higginbotham
Senior Vice President
Chief of Corporate Affairs, Communications and Sustainability
614.438.7391
[email protected]

Marcus A. Rogier
Treasurer and Investor Relations Officer
614.840.4663
[email protected]

200 Old Wilson Bridge Rd.
Columbus, Ohio 43085
WorthingtonEnterprises.com

Vancouver, British Columbia--(Newsfile Corp. - June 24, 2026) - Metalsource Mining Inc. (CSE: MSM) (OTCQB: MSMMF) (FSE: E9Z) ("Metalsource" or the "Company") is pleased to announce additional assay results from its ongoing exploration program at the Silver Hill Project. The latest results continue to strengthen confidence in the continuity of the Silver Hill polymetallic system, with successful step out drilling extending mineralization beyond historical workings while refining the Company's understanding of a newly identified high grade zone. Hole SH26-18 returned 11.8 metres grading 245 g/t silver equivalent ("AgEq"), including 833 g/t AgEq over 1.4 metres and 1,580 g/t AgEq over 0.64 metres, while extending mineralization approximately 28 metres south of previously reported hole SH26-08. The results further support management's belief that mineralization remains open along strike, down plunge and at depth, with multiple assays still pending from the current drill campaign.

SH26-17: Explores the northern edge of our recently identified high-grade zone which is locally internal to the widespread mineralization delineated thus far in the project. SH26-17 identifies the target horizon between 185.59 and 185.75m with combined Pb-Zn values up to 14.3%, demonstrating mineralization remains open to the north. Additionally, this result shows that local variation in width and grade are common at Silver Hill.

SH26-18: 28m south step out from SH26-08, demonstrating continuity of widespread mineralization and improved targeting of recently defined high grade plunging mineralization (47°/276°). Results of 32.5% combined Pb-Zn and 13.8g/t Au between 199.40 and 200.04m increases vector confidence for down plunge targeting.

These results continue to inform our understanding of the deposit morphology, grade variation, and orientation of internal high-grade plunging mineralization within the wider polymetallic footprint at Silver Hill. These are critical developments for improving exploration targeting.

Drill Hole IDFrom (m)To (m)Length (m)Au (g/t)Ag (g/t)Pb (%)Zn (%)Cu (%)AgEq (g/t)SH26-17185.59185.750.150.721.53.810.50.5292SH26-18199.40211.2311.831.434.32.25.40.1245Including199.40200.801.407.319.71.516.00.3833Including199.40200.040.6413.836.82.729.80.71,580Including208.94211.232.291.7152.79.816.00.4636Table 1: Composite assay results from SH26-17 and SH26-18. Widths reported are core length, as additional data is needed to estimate the true width of intercepts at this stage of the project. *Details on AgEq calculations below.

Figure 1: Panoramic photograph showing mineralization from SH26-18.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12035/302620_e753ca4814e3c890_002full.jpg

Figure 2: Plan view of the Silver Hill project area showing the location of Pads 1-5. Transparent aerial image shows position of underground historic workings.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12035/302620_e753ca4814e3c890_003full.jpg

Figure 3: Long section looking northeast (113°) showing intercept locations colored by AgEq. Black dots indicate intercepts with pending assays. Note: Small colored dots within historic workings are bulk samples taken by previous workers and are colored by AgEq. 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12035/302620_e753ca4814e3c890_004full.jpg

Joe Cullen, CEO of Metalsource Mining, commented:

"These results are significant because they continue to demonstrate continuity within the system while validating our evolving geological model. Hole SH26-18 successfully stepped out approximately 28 metres from Hole SH26-08 and intersected the same style of strong silver, gold, lead and zinc mineralization, giving us increasing confidence that we are tracking a coherent high-grade corridor rather than isolated pockets of mineralization.

What is becoming particularly compelling is the consistency of the metal assemblage. We continue to encounter strong silver and gold grades accompanied by robust lead and zinc values, a combination often associated with powerful mineralizing systems. As our understanding of the geometry improves, we believe we are becoming increasingly effective at vectoring toward the source of this potential mineralization.

The more we learn about Silver Hill, the more intrigued we become by what this system may ultimately hold. Mineralization remains open along strike, down plunge and at depth, and with drilling continuing and numerous assays still pending, we believe we are only beginning to understand the scale and potential of this historic district."

What's Next

Awaiting Multiple Drill Results: Numerous drill holes from the current campaign remain pending, including holes designed to test extensions of mineralization along strike, down plunge, and at depth.

Increasing Drilling Capacity: The Company is advancing plans to secure an additional drill rig, which is expected to accelerate testing of both known mineralization and newly identified exploration targets.

Evaluating Strategic Land Expansion: Metalsource is assessing opportunities to expand its land position in prospective areas identified through geological and geophysical analysis, strengthening its ability to explore district-scale potential.

Integrating New Data to Generate Additional Targets: The Company continues to combine recently completed IP survey results with ongoing drilling data and historical datasets. Early interpretations suggest additional exploration opportunities may exist beyond the currently defined mineralized footprint, with follow-up work underway to refine and prioritize future drill targets.

Advancing the Next Phase of Exploration: Building on the success of the current drilling campaign, Metalsource is actively pursuing several initiatives aimed at accelerating exploration and evaluating the broader potential of the Silver Hill district.

Positioned for Continued Growth: As drilling, geophysics, and geological interpretation continue to converge, the Company is gaining valuable vectoring information to guide future exploration and target generation. Management believes Silver Hill is entering an important phase of growth and looks forward to providing further updates as exploration progresses.

Why This Matters to Investors

Silver Hill is increasingly demonstrating the characteristics of an expanding polymetallic system rather than a series of isolated high-grade intercepts. The significance of Hole SH26-18 is not simply the grade returned, but that it successfully extended mineralization approximately 28 metres from a previously reported high grade intercept while confirming management's evolving geological model.

Each successful step out hole improves confidence in the continuity, geometry and scale of the mineralized system. As Metalsource continues to refine its understanding of the recently identified high grade plunge, drilling is becoming increasingly targeted and effective at testing extensions of known mineralization along strike, down plunge and at depth.

Importantly, mineralization remains open in multiple directions and a significant number of assays remain pending from the current campaign. Combined with the Company's ongoing geophysical work and plans to continue systematic step out drilling, management believes Silver Hill remains in the early stages of defining the full extent of a historic American polymetallic system.

The Company's objective remains straightforward: continue expanding the known mineralized footprint, advance toward an inaugural modern resource estimate, and evaluate the broader exploration potential of the Silver Hill district.

Drill Hole IDEasting (m)Northing (m)Elev. (m)AzimuthDipLength (m)StatusSH25-015724083951597224107-63109CompleteSH25-02572408395159722496-85101CompleteSH25-03572410395175123696-46305CompleteSH25-045724103951751236352-89100CompleteSH26-055722803951624262125-73199CompleteSH26-065722803951624262129-51154Assay PendingSH26-07572280395162426274-89200CompleteSH26-085722803951624262297-77231CompleteSH26-09572237395159026289-7015Abandoned SH26-10572237395159026291-76188CompleteSH26-11572237395159026226-83197CompleteSH26-125722373951590262293-84255Assay PendingSH26-135722373951590262145-82215Assay PendingSH26-145722373951590262125-67185Assay PendingSH26-155721683951658261107-79267CompleteSH26-16572168395165826185-76267CompleteSH26-17572168395165826194-61245CompleteSH26-185721683951658261120-70297CompleteSH26-195721683951658261131-76258Assay PendingSH26-205721683951658261133-80276Assay PendingSH26-215721683951658261168-86288Assay PendingSH26-225721683951658261111-86285Assay PendingSH26-23572168395165826171-87288Assay PendingSH26-24572168395165826155-84288Assay PendingTable 2: Drill collar locations and layout azimuth/dip for exploration drilling thus far at the Silver Hill Project. Collar survey in progress and will likely change reported collar elevations. Collar coordinates in WGS84 / UTMZ17N.Metalsource QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks, and duplicates within the sample stream. The drill core is cut in half with a diamond saw, with one half placed in sealed bags and shipped to the laboratory and the other half retained on site. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.

Analytical testing is performed by ALS Geochemistry (Reno, NV) and ALS Canada (Vancouver, BC). The entire sample is crushed to 70% passing 2mm mesh, with a 250 gram split pulverized to 85% passing minus 75 micron. A four-acid digest is performed on 0.25g of sample to quantitatively dissolve most geological materials. Analysis is performed with a combination of ICP-AES and ICP-MS and fire assay.

The exploration results described herein are preliminary in nature and are insufficient to define a mineral resource. Further drilling is required to determine the continuity, geometry, and grade distribution of mineralization. At the time of this release analytical results remain pending.

*Metal values used in AgEq calculations are from the 200-day moving average values from 2/6/2026, and all values are in USD. PAu= $124.5/g, PAg= $1.58/g, PCu= $4.9/lbs, PPb=$0.90/lbs, PZn=$1.11/lbs, 0.00220462262 = grams-to-pounds conversion factor, 22.0462262 = pounds per tonne for 1% metal. Metal recoveries used in the AgEq calculation are Au: 95.5%, Ag: 92.9%, Pb: 89.2%, Zn: 93.8% and Cu 90.8%. These recovery values are derived from batch metallurgical testing used to estimate recoveries of Silver Hill ores, completed in 1988. Individual metal values in the results table are composited values and not factored by recovery. Metal recoveries are applied to their respective component of the AgEq calculation only.

Further, the Company has granted an aggregate 500,000 restricted share units, valid for a term of three years, to consultants of the Company.  The restricted share units are issued pursuant to the Company’s share compensation plans and are subject to vesting over a one-year term, in addition to a statutory hold period of four months and one day from issuance.

Qualified Person

All scientific and technical information has been reviewed and approved by Darcy Vis, B.Sc., P.Geo., President of Tripoint Geological Services Ltd., a contractor of the Company, and a Qualified Person as defined under National Instrument ("NI") 43-101 - Standards of Disclosure for Mineral Projects.

Silver Hill Project

Located in the Carolina Terrane, the property is underlain by volcaniclastic and volcano-sedimentary rocks predominantly of Neoproterozoic and Cambrian age. Current interpretations suggest this terrane is an extension of the Avalon Terrane. The property is 1,225 acres located in Davidson County, North Carolina. The property historically hosts the first significant discovery and first silver-producing mine in America and is supported by an extensive historic dataset, including drillhole data, underground mapping, historic dumps and underground chip samples. Currently known mineralization extends to 550m from surface, in a steeply trending series of lenses, which remain open in multiple directions. Recent surface sampling bolsters the historic dataset; results include SH25-003, which returned 444g/t Ag, 17.7 g/t Au, 8.61% Pb, and 0.507% Zn.

Byrd-Pilot Mountain Project

The Byrd-Pilot Mountain Project is located in central North Carolina within the Carolina Terrane. Initial USGS surveys in the 1980s identified the area as a potential host for a porphyry gold-copper system. Subsequent exploration demonstrated broad gold mineralization in soils, trenches, and shallow RC drilling, coincident with strong self-potential anomalies. Geology shows intense quartz-sericite-pyrite alteration, high-sulfidation signatures, and high-alumina minerals (like Haile and Brewer deposits to the south), suggesting potential for a large epithermal or porphyry-related gold system. Geologic modelling of currently identified mineralization indicates an east-west trend open in multiple directions, with oxidation noted down to a depth of 30m. No drilling has tested the Meridian discovery zone since those 1980s campaigns, leaving potential for significant resource expansion through work commitments of the agreement.

About Metalsource Mining Inc.

Metalsource Mining Inc. is a U.S.-focused precious and critical metals exploration company advancing the Silver Hill Project in North Carolina, widely recognized as the historic location of America's first silver mine. A historically producing mining district dating back to 1839, Silver Hill produced silver, gold, lead and zinc during the formative years of the American mining industry and remains one of the most historically significant mining assets in the United States.

The Company is focused on expanding known mineralization, advancing toward a modern resource estimate, and unlocking the broader potential of the Silver Hill district through systematic drilling, geological modeling and modern exploration techniques.

Metalsource Mining Inc.
America's First Silver Mine. Modern Exploration. Historic Opportunity.

For further information, please contact:
Joe Cullen CEO - Metalsource Mining Inc.
Tel: (778) 919-8615
Email: [email protected]

Cautionary Note About Forward-Looking Statements

This news release may include forward-looking statements that are subject to risks and uncertainties. By its nature, this information is subject to ‎‎inherent risks and ‎‎uncertainties that may be general or specific and which give rise to the possibility that ‎‎expectations, ‎‎forecasts, predictions, projections, or conclusions will not prove to be accurate, that ‎‎assumptions may not ‎‎be correct, and that objectives, strategic goals and priorities will not be achieved. ‎‎These risks and ‎‎uncertainties include but are not limited those identified and reported in the Company's ‎‎public filings ‎‎under the Company's SEDAR profile at www.sedarplus.ca. Although the Company has ‎‎attempted to identify ‎‎important factors that could cause actual actions, events, or results to differ ‎‎materially from those ‎‎described in forward-looking information, there may be other factors that cause ‎‎actions, events or ‎‎results not to be as anticipated, estimated or intended. There can be no assurance that ‎‎such information ‎‎will prove to be accurate as actual results and future events could differ materially from ‎‎those ‎‎anticipated in such statements. The Company disclaims any intention or obligation to update or ‎‎revise any ‎‎forward-looking information, whether as a result of new information, future events or ‎‎otherwise unless ‎‎required by law.‎

Neither the CSE nor the Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302620

Source: Metalsource Mining Inc.

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Extra pair of Expert Eyes: Iris makes deep card payments expertise instantly accessible, reducing reliance on scarce specialists and building confidence 24/7. Purpose-built with context-aware insights: Iris understands card payments end-to-end, with built-in IR correlation logic to explain why something happened, not just what. Natural-language queries: Clear answers about transaction declines, approvals, volumes and performance - no syntax or dashboard stitching required. Iris for Card Payments is available from May 2026 in Beta to customers globally as part of the release of Prognosis 13.3. Future releases will extend Iris to High Value Payments and Real‑Time Payments domains.

For more information or to request a demo, visit the website.

About IR
At IR, we power elite business performance. Trusted by the world's largest organizations for more than 30 years, our market-leading observability solutions are powered by Prognosis – the real-time intelligence platform built for multi-vendor infrastructure, UC&CX and payments environments. To find out more, visit www.ir.com.

SOURCE Integrated Research (IR)

New York, New York--(Newsfile Corp. - June 20, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Calix, Inc. (NYSE: CALX) between January 28, 2026 and April 21, 2026, inclusive (the "Class Period"), of the important July 27, 2026 lead plaintiff deadline.

SO WHAT: If you purchased Calix securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Calix class action, go to https://rosenlegal.com/cases/calix-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 27, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Calix's first quarter margins had significantly benefited from advanced purchasing of memory components; (2) Calix's advanced supply of memory components was dwindling; (3) as a result, Calix was experiencing negative margin pressure as it was forced to purchase memory components at rising market prices; and (4) as a result of the foregoing, defendants' positive statements about Calix's margins, business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Calix class action, go to https://rosenlegal.com/cases/calix-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302208

Source: The Rosen Law Firm PA

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NEW YORK, June 21, 2026 (GLOBE NEWSWIRE) -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against Calix, Inc. (NYSE: CALX) and certain of its officers.

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Calix securities between January 28, 2026 and April 21, 2026, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/CALX.

Calix Case Details

The Complaint alleges that throughout the Class Period, defendants failed to disclose to investors:
      (1)    the Company’s first quarter margins had significantly benefited from advanced purchasing of memory components;
      (2)    that the Company’s advanced supply of memory components was dwindling;
      (3)    that, as a result, the Company was experiencing negative margin pressure as it was forced to purchase memory components at rising market prices; and
      (4)    that, as a result of the foregoing, Defendants’ positive statements about the Company’s margins, business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

What's Next for Calix Investors?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: bgandg.com/CALX. or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in Calix you have until July 27, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.

No Cost to Calix Investors

We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman, LLC for Calix Securities Class Action?

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com

"Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace," said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.

Follow us for updates on LinkedIn, X, Facebook, or Instagram.

Contact Info

Peretz Bronstein, Esq. or Nathan Miller
Bronstein, Gewirtz & Grossman, LLC
917-590-0911 | [email protected]

Attorney advertising.
Prior results do not guarantee similar outcomes.

, /PRNewswire/ -- The DJS Law Group reminds investors of a class action lawsuit against Calix, Inc. ("Calix" or "the Company") (NYSE: CALX) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Shareholders who purchased shares of CALX during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointments. Appointment as lead plaintiff is not required to partake in any recovery.

CLASS PERIOD: January 28, 2026 to April 21, 2026

DEADLINE: July 27, 2026

CASE DETAILS: According to the Complaint, the Company made false and misleading statements to the market. Calix's Q1 performance was improved by the advanced purchase of memory modules. As the Company's supply of memory fell, it suffered from significant margin pressure due to increasing memory prices on the open market. Based on these facts, Calix's public statements were false and materially misleading throughout the class period.

If you are a shareholder who suffered a loss, contact us to participate.

WHY DJS LAW GROUP? DJS Law Group's primary focus is to enhance investor return through balanced counseling and aggressive advocacy. We specialize in securities class actions, corporate governance litigation, and domestic/international M&A appraisals. Our clients are some of the largest and most sophisticated hedge funds and alternative asset managers in the world. The litigation claims of our clients are extraordinarily valuable assets that demand respect, focus, and results.

Join the case to recover your losses.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

David J. Schwartz

DJS Law Group

274 White Plains Road, Suite 1

 Eastchester, NY 10709

Phone: 914-206-9742

Email: [email protected]

SOURCE DJS Law Group LLP

CALX Investors Have Opportunity to Lead Calix, Inc. Securities Fraud Lawsuit with the Schall Law Firm PR Newswire

LOS ANGELES, June 22, 2026

, /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Calix, Inc. ("Calix" or "the Company") (NYSE: CALX) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company's securities between January 28, 2026 and April 21, 2026, inclusive (the "Class Period"), are encouraged to contact the firm before July 27, 2026.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Calix's Q1 margins benefited from the advanced purchasing of memory components. The Company's supply of these memory components was rapidly decreasing due to these advanced orders. The Company's margin faced negative pressure based on the purchase of memory at increasing market prices. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Calix, investors suffered damages.

Join the case to recover your losses

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]

View original content to download multimedia:https://www.prnewswire.com/news-releases/calx-investors-have-opportunity-to-lead-calix-inc-securities-fraud-lawsuit-with-the-schall-law-firm-302806034.html

SOURCE The Schall Law Firm

LOS ANGELES, June 22, 2026 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Calix, Inc. (“Calix” or “the Company”) (NYSE: CALX) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s securities between January 28, 2026 and April 21, 2026, inclusive (the “Class Period”), are encouraged to contact the firm before July 27, 2026.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Calix’s Q1 margins benefited from the advanced purchasing of memory components. The Company’s supply of these memory components was rapidly decreasing due to these advanced orders. The Company’s margin faced negative pressure based on the purchase of memory at increasing market prices. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Calix, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.        

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]

SOURCE:

The Schall Law Firm

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Calix To Contact Him Directly To Discuss Their Options

If you purchased or acquired securities in Calix between January 28, 2026 and April 21, 2026 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

[You may also click here for additional information]

New York, New York--(Newsfile Corp. - June 23, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Calix, Inc. ("Calix" or the "Company") (NYSE: CALX) and reminds investors of the July 27, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the Company's first quarter margins had significantly benefited from advanced purchasing of memory components; (2) that the Company's advanced supply of memory components was dwindling; (3) that, as a result, the Company was experiencing negative margin pressure as it was forced to purchase memory components at rising market prices; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's margins, business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On April 21, 2026, Calix reported results for the first quarter of 2026 earnings, including that "Non-GAAP gross margin was 57.2%, down 80 basis points sequentially." Further, the Company reported "gross margin guidance for the second quarter of 2026 is between 54.25% and 57.25%" and "[f]or the year, we expect our non-GAAP gross margin to decline between 50 and 150 basis points."

In the accompanying earnings call, the Company's CFO stated "advanced purchasing had allowed us to avoid higher memory component costs during the first quarter. However, that advanced supply has run its course, and we now face market prices."

On this news, Calix's stock price fell $6.93, or 13.98% to close at $42.65 per share on April 22, 2026, on unusually heavy trading volume.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Calix's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the Calix class action, go to www.faruqilaw.com/CALX or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

Follow us for updates on LinkedIn, on X, or on Facebook.

Frequently Asked Questions (FAQ) for Investors Regarding the Calix Securities Class Action Lawsuit:

What is the Calix securities fraud lawsuit about?

The Calix securities fraud lawsuit is a federal securities class action alleging that Calix, Inc. (NYSE: CALX) and its executives made false and misleading statements to investors by concealing that the Company's strong first quarter margins were artificially inflated by advanced purchasing of memory components, that its advanced supply of those components was dwindling, and that it would soon be forced to purchase memory components at rising market prices — creating significant negative margin pressure. As the truth emerged on April 21, 2026, when Calix reported Q1 2026 results and its CFO disclosed that "advanced supply has run its course" and the Company would "now face market prices," CALX's stock price fell $6.93 per share, or 13.98%, causing significant losses for investors.

Who may be eligible to participate in the Calix class action lawsuit?

Investors who purchased or acquired Calix (CALX) stock between January 28, 2026 and April 21, 2026 — the Class Period — and suffered financial losses may be eligible to participate in the Calix securities class action. Participation as a class member does not require taking any affirmative legal action; eligible investors may recover losses simply by remaining members of the class. Whistleblowers, former Calix employees, and others with relevant information about the Company's conduct are also encouraged to come forward.

What is a lead plaintiff, and how can I seek appointment in the Calix lawsuit?

A lead plaintiff in the Calix class action is a court-appointed investor — typically the one with the largest financial interest in the case — who directs and oversees the litigation on behalf of all class members. Any Calix investor who purchased CALX stock during the Class Period may move the Court to serve as lead plaintiff through counsel of their choice. The deadline to seek lead plaintiff appointment is July 27, 2026. Importantly, choosing not to seek the lead plaintiff role does not affect an investor's ability to share in any recovery obtained for the class.

What should investors do if they purchased Calix stock during the Class Period?

Investors who purchased Calix (CALX) stock between January 28, 2026 and April 21, 2026 and suffered losses should contact Faruqi & Faruqi, LLP immediately to discuss their legal rights. The deadline to seek appointment as lead plaintiff in the Calix securities class action is July 27, 2026. To speak directly with securities litigation partner Josh Wilson, call 877-247-4292 or 212-983-9330 (Ext. 1310), or visit www.faruqilaw.com/CALX for more information.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302351

Source: Faruqi & Faruqi LLP

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NEW YORK, June 23, 2026 (GLOBE NEWSWIRE) -- SueWallSt notifies investors in Calix, Inc. (NYSE: CALX) that a class action lawsuit has been filed on behalf of shareholders who purchased securities between January 28, 2026 and April 21, 2026. Find out if you qualify to recover losses. You may also contact Joseph E. Levi, Esq. at [email protected] or (888) SueWallSt.

Calix shares fell $6.93 per share, a decline of nearly 14%, after the Company revealed that its record gross margins had been temporarily propped up by a dwindling stockpile of lower-cost memory components purchased in advance. Applications to serve as lead plaintiff must be filed by July 27, 2026.

The Alleged 'Advanced Purchasing' Methodology

The cloud and software platform company had reported eight consecutive quarters of non-GAAP gross margin improvement, culminating in a record 58% margin announced on January 28, 2026. The lawsuit contends that this streak was not driven purely by operational excellence or demand strength. Instead, the complaint alleges Calix had been drawing down a finite inventory of memory components acquired at prices well below current market rates, a practice internally described as "advanced purchasing."

When that pre-purchased supply was exhausted, the Company faced immediate exposure to significantly higher spot-market memory prices driven by surging AI-related demand across the semiconductor industry.

How 'Advanced Purchasing' Allegedly Affected Reported Financials

The Company reported non-GAAP gross margin of 58% for Q4 2025, which the lawsuit alleges was artificially sustained by lower-cost component inventoryManagement touted "the eighth consecutive quarter of margin improvement" without disclosing the temporary nature of the cost advantageThe action claims that the advanced supply was already dwindling during the Class Period, creating foreseeable margin compressionQ1 2026 non-GAAP gross margin fell to 57.2%, an 80 basis point sequential decline, once the buffer began to erodeQ2 2026 guidance dropped to 55.8% at the midpoint, reflecting a 140 basis point decline as market-rate memory costs took full effectFull-year 2026 margins were projected to contract an additional 50 to 150 basis points The AI-Driven Memory Cost Factor

Memory component pricing has risen sharply industrywide due to demand from artificial intelligence applications. The complaint alleges that Calix knew its insulation from these cost increases was temporary and finite. Rather than disclose the approaching exhaustion of lower-cost inventory, the lawsuit contends that management presented record margins as evidence of sustainable business momentum.

"This case presents important questions about component cost disclosure obligations in the cloud infrastructure sector. When a company's record margins depend on a temporary supply advantage that is nearing exhaustion, investors deserve to know that before they commit capital based on those margins," stated Joseph E. Levi, Esq.

Submit your information to join this case or call Joseph E. Levi, Esq. at (888) SueWallSt.

ABOUT SUEWALLST -- Over the past 20 years, SueWallSt has secured hundreds of millions of dollars for aggrieved shareholders. The firm has extensive expertise in complex securities litigation and a team of over 70 employees. For seven consecutive years, SueWallSt has ranked in ISS Securities Class Action Services' Top 50 Report.

Frequently Asked Questions About the CALX Lawsuit

Q: What is the CALX class action lawsuit about? A: A securities class action has been filed against Calix, Inc. (NYSE: CALX) alleging materially false and misleading statements between January 28, 2026 and April 21, 2026. Shares fell approximately 13.98% after the truth was revealed, causing significant losses for shareholders.

Q: Who is eligible to join the CALX investor lawsuit? A: Investors who purchased CALX stock or securities between January 28, 2026 and April 21, 2026 and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses, not on whether you still hold the shares.

Q: How much did CALX stock drop? A: Shares fell approximately 13.98%, a decline of $6.93 per share, after the Company disclosed that its advanced purchasing of memory components had run its course and it now faced higher market prices. Investors who purchased shares during the class period at artificially inflated prices may be entitled to compensation.

Q: What do CALX investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact SueWallSt for a free, no-obligation evaluation at [email protected] or (888) SueWallSt. No immediate action is required to remain eligible as a class member.

Q: What if I already sold my CALX shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.

Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. You submit a claim form to receive your portion of recovery.

Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.

CONTACT:

SueWallSt
Joseph E. Levi, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (888) SueWallSt
Fax: (212) 363-7171

New York, New York--(Newsfile Corp. - June 23, 2026) - Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against Calix, Inc. (NYSE: CALX) and certain of its officers.

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Calix securities between January 28, 2026 and April 21, 2026, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/CALX.

Calix Case Details

The Complaint alleges that throughout the Class Period, defendants failed to disclose to investors:

the Company's first quarter margins had significantly benefited from advanced purchasing of memory components; that the Company's advanced supply of memory components was dwindling; that, as a result, the Company was experiencing negative margin pressure as it was forced to purchase memory components at rising market prices; and that, as a result of the foregoing, Defendants' positive statements about the Company's margins, business, operations, and prospects were materially misleading and/or lacked a reasonable basis.What's Next for Calix Investors?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/CALX, or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in Calix you have until July 27, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.

No Cost to Calix Investors

We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman, LLC for Calix Securities Class Action?

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com

"Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace," said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.

Follow us for updates on LinkedIn, X, Facebook, or Instagram.

Attorney advertising.
Prior results do not guarantee similar outcomes.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299250

Source: Bronstein, Gewirtz & Grossman, LLC

Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.

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NEW YORK, June 23, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Calix, Inc. (“Calix” or the “Company”) (NYSE: CALX). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. 

The class action concerns whether Calix and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

You have until July 27, 2026, to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired Calix securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.   

[Click here for information about joining the class action]  

On April 21, 2026, after the market closed, Calix reported results for the first quarter of 2026 earnings, including that “[n]on-GAAP gross margin was 57.2%, a decrease of 80 basis points sequentially.”  Further, the Company reported gross margin guidance for the second quarter of 2026 is “55.8% (at the midpoint) is down 140 basis points from the previous quarter.  This decline is primarily due the increase in memory component costs.”  In an accompanying earnings call on the same day, Calix’s Chief Financial Officer, Cory Sindelar, said that “advanced purchasing had allowed us to avoid higher memory component costs during the first quarter.  However, that advanced supply has run its course, and we now face market prices.”  Sindelar further revealed that, “reflecting the effects of higher memory component costs,” “[f]or the year, we expect our non-GAAP gross margin to decline between 50 and 150 basis points.” 

On this news, Calix’s stock price fell $6.93 per share, or 13.98%, to close at $42.65 per share on April 22, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com. 

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT: 
Danielle Peyton 
Pomerantz LLP 
[email protected] 
646-581-9980 ext. 7980 

NEW YORK, June 24, 2026 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP announces that a shareholder has filed a securities class action lawsuit on behalf of investors (the “Class”) who purchased or acquired the securities of Calix, Inc. (“Calix” or the “Company”) (NYSE: CALX) between January 28, 2026 and April 21, 2026, inclusive.

Should You Join The Calix Class Action Lawsuit:

Do you, or did you, own shares of Calix, Inc. (NYSE: CALX)?Did you sell your shares between January 28, 2026 and April 21, 2026, inclusive?Did you lose money in your investment in Calix?
What To Do Next:

Investors are encouraged to act promptly and submit a form at Calix, Inc. Shareholder Class Action Lawsuit or contact Investor Relations Manager Peter Allocco at (212) 951-2030 or [email protected].

If you wish to serve as lead plaintiff for the Class, you must file papers by July 27, 2026. A lead plaintiff is a representative party acting on other class members’ behalf in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

About The Lawsuit:

The lawsuit alleges that defendants made materially false and misleading statements and omissions regarding the Company’s business operations, growth prospects, and financial stability. As a result of these alleged misrepresentations, Calix securities traded at artificially inflated prices during the Class Period. When the truth was disclosed, investors allegedly suffered significant losses.

About Bernstein Liebhard:

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for sixteen consecutive years.

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But Tesla isn’t the first company to stake a claim to the unusual name.

A review of U.S. trademark records shows that MEGAPOD has quietly appeared in filings spanning toys, industrial power systems and outdoor equipment over the past 17 years. The difference is that Tesla’s version could be attached to one of Wall Street’s hottest themes: artificial intelligence infrastructure.

Mattel’s MEGAPOD Never Made It Out Of The Toy BoxThe earliest major corporate claim to the name came from Mattel, Inc. (NASDAQ:MAT)

In September 2009, the toy giant filed a trademark application for MEGAPOD covering “toys, games and playthings.” The effort never got off the ground. The application was abandoned in 2010 after the company failed to respond to a trademark office action. The trademark was never registered.

Whatever Mattel had envisioned for the name, it never reached consumers.

Mitsubishi Turned MEGAPOD Into A Real ProductA year later, Mitsubishi Electric Power Products took a very different approach.

The company filed its own MEGAPOD trademark application in January 2011. Unlike Mattel’s attempt, Mitsubishi successfully registered the name and used it for industrial uninterruptible power supply systems designed for commercial and industrial applications.

The trademark remains active today following its renewal. That connection is particularly interesting because power has become one of the biggest constraints facing the AI industry.

As companies race to build larger AI clusters, securing electricity is increasingly becoming as important as securing chips.

Even A Tent Company Wanted The NameThe MEGAPOD story doesn’t stop there.

In 2024, Under the Weather LLC secured a registration for MEGAPOD covering clear pop-up tents and weather shelters. The trademark remains active and registered. At first glance, the connection seems completely random.

Yet it highlights how a single brand name can migrate across entirely different industries, taking on new meanings each time.

Tesla’s Version Could Be The Most Ambitious YetTesla’s filing, submitted on June 18, is arguably the most intriguing MEGAPOD application so far.

According to the trademark filing, the company is seeking protection for “modular data center hardware systems for artificial intelligence computing” and related AI computing hardware. The application is currently pending. The filing immediately sparked speculation because it arrived just months after Elon Musk discussed deploying computing hardware and referenced roughly 7 gigawatts of available power at Tesla’s Supercharger network.

Tesla has not disclosed what a future MEGAPOD product might look like, nor has the company linked the trademark to any specific initiative.

Still, the filing offers one of the clearest indications yet that Tesla may be exploring a larger role in AI infrastructure.

From Toys To Power Systems To AIFor most companies, trademark filings rarely attract investor attention. But the history of MEGAPOD shows how the same name can represent very different ambitions.

For Mattel, it was a toy concept that never reached the market. For Mitsubishi, it became a long-running industrial power product. For Tesla, it may become something else entirely.

Investors may not know exactly what MEGAPOD is yet. But if Tesla ultimately turns the trademark into a real product, it could become the most valuable version of MEGAPOD ever created.

Photo Courtesy: Kittyfly on Shutterstock.com

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Trinity Capital (TRIN) stands out among BDCs, delivering 18% annual performance and strong growth despite sector headwinds. TRIN reported Q1 top-line growth of 38% and robust portfolio expansion, with disciplined underwriting and limited SaaS exposure. Dividend coverage remains solid at 104%, supported by low leverage, $68M spillover income, and a premium to NAV (1.26x).

MISSION WOODS, Kan.--(BUSINESS WIRE)--Palmer Square Capital BDC Inc. (NYSE: PSBD) (“Palmer Square” or the “Company”), an externally managed business development company, today announced that its Board of Directors has declared a second quarter 2026 supplemental dividend of $0.03 per share. Shareholders of record as of June 26, 2026, will receive the supplemental dividend, payable on July 13, 2026. The supplemental dividend will be paid out of the excess of the Company's quarterly undistributed.

Alternative energy remains a vital investment theme as rising power demand, grid reliability concerns, decarbonization initiatives, and global energy security needs continue to reshape the broader energy landscape.

Companies positioned across clean power generation, fuel-cell technology, natural gas transition assets, and renewable infrastructure are drawing increased attention as their earnings outlooks improve.  

Keeping this scenario in mind, here are three highly ranked alternative energy stocks that are standing out with a Zacks Rank #1 (Strong Buy).

Bloom Energy – BEStock Price: $338Bloom Energy (BE - Free Report) ) has emerged as one of the biggest beneficiaries of rising demand for reliable power infrastructure tied to artificial intelligence and data center expansion. The company develops solid oxide fuel cell systems that provide on-site electricity generation, helping customers secure dependable power amid grid constraints.

Recent results have been exceptionally strong, with Bloom’s Q1 revenue surging 130% year over year to $751.05 million, driven by a 208% surge in product revenue. Management also raised full-year revenue growth guidance and increased profitability expectations following its strong quarterly performance, with it noteworthy that Q1 EPS of $0.44 crushed estimates of $0.09 per share by 388%.

Bloom’s growing exposure to AI-related power demand has been a major catalyst, expanding partnerships tied to large-scale data center projects. This includes initiatives involving Oracle (ORCL - Free Report) ) and Brookfield Asset Management (BAM - Free Report) ), which could support long-term demand for Bloom’s fuel-cell technology as power availability becomes a critical factor for AI infrastructure deployment.

Image Source: Zacks Investment Research

Crescent Energy Company – CRGYStock Price: $10Crescent Energy (CRGY - Free Report) ) offers a different angle on the energy market through its oil and natural gas-focused exploration and production business. The company has been gaining momentum thanks to operational improvements, acquisition synergies, and strong free cash flow generation.

Crescent highlighted that it generated $192 million in levered free cash flow during Q1, supported by record production. The key driver has been the successful integration of assets tied to the lucrative Permian Basin, which has helped boost production while generating meaningful cost savings.

To that point, Crescent’s production climbed 32% YoY during Q1 to 341,000 barrels of oil equivalent per day (BOE/d), while the company captured $120 million in Permian acquisition synergies, boosting its cash-generating profile.

For investors seeking value within the energy sector, Crescent's combination of strong cash generation, operational synergies, and disciplined capital allocation may continue supporting earnings estimate upgrades. Plus, at $10 a share, CRGY is trading at just 5X forward earnings.

Image Source: Zacks Investment Research

Diversified Energy Company – DECStock Price: $12Diversified Energy (DEC - Free Report) ) has built a unique business model centered on acquiring and managing mature natural gas and oil assets that generate steady cash flow. Like Crescent Energy, Diversified Energy's cash-generating ability remains a key strength. During Q1, Diversified Energy generated $91 million in adjusted free cash flow, up 157% from $35 million a year earlier.

Notably, the company's focus on low-decline production and disciplined capital management has helped create a highly cash-generative operation. Expanding through acquisitions and portfolio optimization initiatives, Diversified Energy has completed strategic transactions that have added to production and EBITDA while enhancing its operating footprint.

Furthermore, Diversified Energy has consistently returned capital through dividends and share repurchases while its hedged production base and low-decline asset portfolio help support earnings stability relative to many exploration and production peers. At $12 a share, DEC trades at a very cheap 2X forward earnings multiple with an 8% annual dividend yield.

Investors looking for a combination of income potential and cash flow strength may find Diversified Energy’s stock particularly compelling as analysts continue to raise earnings expectations.

Image Source: Zacks Investment Research

Summary & ConclusionWith positive earnings estimate revisions contributing to their Zacks Rank #1 (Strong Buy) ratings, Bloom Energy, Crescent Energy, and Diversified Energy stand out as compelling energy stocks to consider at the moment.

Bloom Energy is benefiting from growing demand for reliable power solutions tied to AI and data center expansion, Crescent Energy continues to generate strong cash flow through operational efficiencies and Permian Basin synergies, and Diversified Energy is delivering impressive free cash flow growth through its disciplined asset management strategy.

As analysts become increasingly optimistic about their earnings prospects, these three companies appear well-positioned to capitalize on favorable trends across the energy sector.

New Philips Hue smart bulbs leverage Silicon Labs wireless technology to support both Matter and Zigbee, giving consumers more choice while preserving the premium Hue experience

, /PRNewswire/ -- Silicon Labs (NASDAQ: SLAB), the leading innovator in low-power wireless connectivity, and Signify (Euronext: LIGHT), a world leader in lighting, today announced their collaboration to bring concurrent multiprotocol (CMP) communications to select Philips Hue smart bulbs, enabling support for both Zigbee and Matter over Thread concurrently on a single device.

Bringing Greater Choice to the Smart Home

The collaboration allows Philips Hue users to benefit from the simplicity and interoperability of Matter while continuing to access the advanced features, immersive experiences, and deep ecosystem integration that have made Hue a leading smart lighting platform.

As smart homes become increasingly diverse, consumers want products that work seamlessly with the platforms they already use—whether that's Apple Home, Amazon Alexa, Google Home, Samsung SmartThings, or the Philips Hue ecosystem. By leveraging Silicon Labs' MG26 and SiMG301 wireless SoCs, Signify is enabling a new generation of Hue smart bulbs designed to deliver greater flexibility without compromising the premium lighting experiences consumers expect from Philips Hue.

"Philips Hue aims to transform how users use lighting inside their home whether it be for ambiance creation, convenience or entertainment. A big part of achieving this is to remove complexity for consumers while continuing to deliver the exceptional lighting experiences. Matter represents an important step forward for the smart home industry because it makes connected devices easier to set up and use," said George Yianni, Chief Technology Officer Philips Hue at Signify. "Our collaboration with Silicon Labs allows us to support the interoperability consumers want through Matter while preserving the advanced capabilities, entertainment experiences, and innovation available through the Hue ecosystem."

Combining Matter Simplicity with the Hue Experience

Philips Hue delivers a rich and reliable ecosystem with unique differentiated features and experiences including dynamic scenes, entertainment synchronization, automation capabilities, and immersive lighting experiences based on ZigBee technology. Matter was created to simplify smart home connectivity by enabling devices from different brands and platforms to work together more easily. With Matter-enabled Hue bulbs, consumers can have the freedom to integrate directly into leading smart home ecosystems for everyday controls while still unlocking advanced lighting centric functionality within the Hue ecosystem.

Silicon Labs' concurrent multiprotocol technology makes this possible by enabling Zigbee and Matter over Thread to operate simultaneously on a single wireless device. Rather than forcing manufacturers or consumers to choose between protocols, CMP allows devices to participate in multiple ecosystems at the same time, helping bridge today's installed smart home infrastructure with tomorrow's interoperable Matter-based environments.

Powering the Next Generation of Connected Lighting

"The future of the smart home isn't about choosing one ecosystem over another—it's about giving consumers the freedom to use the products and platforms they prefer," said Ross Sabolcik, Senior Vice President of Product Lines at Silicon Labs. "Signify has been a leader in advancing both smart lighting innovation and Matter adoption. By combining Philips Hue's industry-leading lighting experiences with Silicon Labs' concurrent multiprotocol technology, we're helping create a smart home experience that is simpler, more flexible, and more intuitive for consumers."

The collaboration builds on a long-standing relationship between Silicon Labs and Signify and reflects a shared commitment to advancing open standards, interoperability, and user-centric innovation across the smart home industry.

Select Philips Hue smart bulbs leveraging Silicon Labs MG26 and SiMG301 wireless SoCs are available now or are being introduced across Philips Hue product lines. Currently these products require choosing ZigBee or Thread at commissioning time but the software update to enable concurrent operation will be rolled out later this year simplifying the experience for consumers.

About Signify

Signify (Euronext: LIGHT) is a world leader in lighting for professionals and consumers. They proudly bring to market some of the world's best lighting brands, from Signify, Philips, Philips Hue, Signify Interact, Signify Dynalite, Color Kinetics and many more. Their advanced products, connected systems and services unlock the extraordinary potential of light for brighter lives and a better world. In 2025, they had sales of EUR 5.8 billion, approximately 27,000 employees, and a presence in over 70 markets. They are in the Dow Jones Sustainability World Index, earned a CDP 'A' score for climate performance and transparency and hold the EcoVadis Platinum rating.

About Silicon Labs

Silicon Labs (NASDAQ: SLAB) is the leading innovator in low-power connectivity, building embedded technology that connects devices and improves lives. Merging cutting-edge technology into the world's most highly integrated SoCs, Silicon Labs provides device makers with the solutions, support, and ecosystems needed to create advanced edge connectivity applications. Headquartered in Austin, Texas, Silicon Labs has operations in over 16 countries and is the trusted partner for innovative solutions in smart home, industrial IoT, and smart cities markets. Learn more at https://www.silabs.com.

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SOURCE Silicon Labs