Track market-moving stories before they get noisy

DLTR's Q1 earnings call highlights margin gains from tighter execution and shrink control. It raises the EPS outlook, but warns on fuel, tariffs and traffic.

Dollar Tree beat comparable-sales estimates as average transaction size rose 4.5% despite weaker customer traffic. Summary

Higher-price items are helping Dollar Tree lift spending per visit.

Dollar Tree DLTR gave investors a sharp reminder that value retail still has room to surprise. Comparable sales rose 3.5% in the first quarter, beating estimates, even though customer traffic declined. The driver was larger baskets, with average transaction size climbing 4.5%, suggesting shoppers are spending more when they visit rather than simply showing up in bigger numbers.

That matters because Dollar Tree is no longer leaning only on the old $1 model. The company has been converting stores to carry more products at higher price points, including $3 to $5 items such as toys and party supplies. More than half of its roughly 9,000 locations have already adopted the strategy, giving the chain a wider assortment and possibly helping it pull in deal-seeking shoppers, including higher-income customers, during a period of economic uncertainty.

The market reacted fast. Dollar Tree shares jumped as much as 17%, the stock's largest intraday gain since 2022, after falling 22% this year while the S&P 500 Index SPY gained roughly 10%. The results point to solid demand from higher-income consumers despite higher gas prices, but the broader retail backdrop still carries pressure. Walmart recently warned that higher fuel costs are starting to strain lower-income shoppers, making Dollar Tree's bigger-ticket momentum encouraging, but still worth watching closely.

Investors in Dollar Tree, Inc. (DLTR - Free Report) need to pay close attention to the stock based on moves in the options market lately. That is because the June 18, 2026 $45.00 Call had some of the highest implied volatility of all equity options today.

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

What do the Analysts Think?Clearly, options traders are pricing in a big move for Dollar Tree, but what is the fundamental picture for the company? Currently, Dollar Tree is a Zacks Rank #3 (Hold) in the Retail - Discount Stores Industry that ranks in the Top 25% of our Zacks Industry Rank. Over the last 60 days, six analysts have increased their earnings estimate for the current quarter, while one has dropped his estimate. The net effect has taken our Zacks Consensus Estimate for the current quarter to move from $1.04 per share to $1.10 per share in the same time period.

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

ELKHART, Ind.--(BUSINESS WIRE)--LCI Industries (NYSE: LCII), a leading supplier of engineered components to the recreation and transportation markets, today reported first quarter 2026 results.

“I am so pleased with our team's performance across the business helping get us off to a very strong start despite very challenging retail and wholesale environments in the leisure markets we serve. Our focus for the last year, in addition to innovation and growth, has been on plant optimizations, G&A restructuring, and other self-help initiatives driving us toward stronger financial health no matter how tough the environment. As a result, we were able to generate meaningful earnings growth,” said Jason Lippert, President and Chief Executive Officer. “This strong performance and the growth we achieved during a muted quarter for industry output further validates the success of our targeted investments in operational excellence and diversification. Our team's emphasis on footprint and cost structure optimization efforts has amplified these results, enhancing the long-term earnings power of our platform. Looking ahead, regardless of the macro environment, our key performance drivers include rapid content-per-unit expansion through innovation, a dedicated focus on growing the aftermarket business that is positioned to service nearly every RV on the road, and accelerating traction across OEM markets. The updated outlook shared today reflects our confidence in broadening our ability to serve our customers and our team’s consistent execution in driving long-term shareholder value.”

First Quarter 2026 Results

Consolidated net sales increased 4.3% to $1.1 billion in the first quarter of 2026, up from $1.0 billion in the same period of 2025. The $44.9 million increase was primarily driven by a $29.3 million increase in the OEM Segment, reflecting sales price increases to cover higher material costs, sales from acquired businesses during the year ($46.8 million in the first quarter), and an increase in North American RV sales driven by recent innovations and a higher mix of premium fifth-wheel units, partially offset by a decrease in North American travel trailer and fifth-wheel shipments.

Net income was up 27% to $62.9 million, or $2.53 per diluted share, compared to $49.4 million, or $1.94 per diluted share, in the first quarter of 2025. Adjusted net income increased to $62.9 million, or $2.59 per adjusted diluted share, compared to $55.6 million, or $2.19 per adjusted diluted share. Adjusted EBITDA increased 13% to $125.0 million, compared to $110.9 million in the first quarter of 2025. Operating profit margin increased to 8.7% in the first quarter of 2026 compared to 7.8% in the same period of 2025. Year-over-year margin expansion was driven primarily by reduced costs resulting from our materials sourcing strategies and the benefits of other cost improvement actions, such as footprint optimizations.

*Additional information regarding adjusted net income, adjusted diluted EPS, and adjusted EBITDA used throughout this release, as well as reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measure of net income, is provided in the "Supplementary Information - Reconciliation of Non-GAAP Measures" section below.

OEM Segment - First Quarter Performance

OEM net sales increased $29.3 million, or 4%, to $852.8 million for the first quarter of 2026, compared to the same period of 2025. RV OEM net sales decreased 4% to $509.8 million, primarily due to a decrease in North American travel trailer and fifth-wheel shipments, partially offset by sales price increases to cover higher material costs, an increase in RV sales mix toward higher content fifth-wheel units, an increase in North American motorhome RV unit shipments, and recent innovations. Adjacent Industries OEM net sales increased 17% year-over-year to $343.0 million, primarily driven by sales from acquired businesses and higher sales to North American marine OEMs.

Operating profit of the OEM Segment was $76.5 million in the first quarter of 2026, or 9.0% of net sales, compared to $62.0 million, or 7.5% of net sales, in the same period in 2025. The operating profit margin expansion was primarily driven by increases in selling prices to cover increased material costs, and cost improvement actions such as footprint optimizations and material sourcing strategies. These gains were partially offset by higher material costs related to tariffs and increased steel and aluminum costs.

Aftermarket Segment - First Quarter Performance

Aftermarket net sales increased 7% to $237.7 million for the first quarter of 2026, compared to the same period of 2025. The increase was primarily driven by sales price increases to cover higher material costs and sales from acquired businesses, partially offset by volume decreases in the automotive and marine aftermarkets. Operating profit of the Aftermarket Segment was $18.7 million, or 7.8% of net sales, compared to $19.3 million, or 8.7% of net sales, in the same period of 2025. The operating profit margin decrease was primarily driven by higher material costs related to tariffs and increased steel costs, and investments in capacity and distribution. These pressures were partially offset by increases in selling prices to cover increased material costs, reduced costs as a result of materials sourcing strategies, and a favorable shift in sales mix.

Income Taxes

The Company's effective tax rate was 26.2% for the quarter ended March 31, 2026, compared to 26.5% for the quarter ended March 31, 2025. The improvement in the effective tax rate for the first quarter 2026 compared to 2025 was primarily due to the recognition of excess tax benefits on stock-based compensation.

Balance Sheet and Other Items

At March 31, 2026, the Company's cash and cash equivalents balance was $142.2 million, relative to $222.6 million at December 31, 2025. The Company used $27.9 million for dividend payments to shareholders and $9.7 million for capital expenditures in the three months ended March 31, 2026.

The Company's outstanding long-term indebtedness, including current maturities, was $945.0 million at March 31, 2026. As of March 31, 2026, the Company had $595.2 million of borrowing availability under its revolving credit facility.

Outlook

Based on current market and economic conditions along with existing tariffs, the Company expects the following:

April 2026 net sales of approximately $374 million, down 4% from prior year 2026 North American RV wholesale shipments of 315,000 to 330,000, lowering from the previous range of 335,000 to 350,000 2026 revenue of $4.2 billion to $4.3 billion 2026 operating profit margin of 7.5% to 8.0% 2026 adjusted EPS of $8.75 to $9.25, raising the lower end of previous range from $8.25 and reaffirming the upper end Conference Call & Webcast

LCI Industries will host a conference call to discuss its first quarter results on Tuesday, May 5, 2026, at 8:30 a.m. Eastern time. An online, real-time webcast, as well as a supplemental earnings presentation, will be available on the Company's website, investors.lci1.com. The conference call and webcast can also be accessed by dialing (833) 470-1428 for participants in the U.S. and (929) 526-1599 for participants outside the U.S. using the required access code 894063. Due to the high volume of companies reporting earnings at this time, please be prepared for hold times of up to 15 minutes when dialing in to the call.

A replay of the conference call will be available for two weeks by dialing (866) 813-9403 for participants in the U.S. and (44) 204-525-0658 for those outside the U.S. and referencing access code 565652. A replay of the webcast will be available on the Company’s website immediately following the conclusion of the call.

About LCI Industries

LCI Industries (NYSE: LCII), through its Lippert subsidiary, is a global leader in supplying engineered components to the outdoor recreation and transportation markets. We believe our innovative culture, advanced manufacturing capabilities, and dedication to enhancing the customer experience have established Lippert as a reliable partner for both OEM and aftermarket customers. For more information, visit www.lippert.com.

Forward-Looking Statements

This press release contains certain "forward-looking statements" with respect to our financial condition, results of operations, profitability, margins, business strategies, operating efficiencies or synergies, competitive position, growth opportunities, acquisitions, plans and objectives of management, markets for the Company's common stock, the impact of legal proceedings, and other matters. Statements in this press release that are not historical facts are "forward-looking statements" for the purpose of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, and involve a number of risks and uncertainties.

Forward-looking statements, including, without limitation, those relating to the Company's 2026 outlook and related assumptions, production levels, future financial results and business prospects, net sales, expenses and income (loss), operating margins, capital expenditures, tax rate, cash flow, financial condition, liquidity, covenant compliance, retail and wholesale demand and shipments, run rates, integration of acquisitions, planned divestitures and facility consolidations, optimization of facilities and infrastructure, R&D investments, commodity prices, addressable markets, and industry trends, whenever they occur in this press release are necessarily estimates reflecting the best judgment of the Company's senior management at the time such statements were made. There are a number of factors, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those described in the forward-looking statements. These factors include, in addition to other matters described in this press release, the impacts of costs and availability of, and tariffs on, raw materials (particularly steel and aluminum) and other components, future pandemics, geopolitical tensions, armed conflicts, or natural disasters on the global economy and on the Company's customers, suppliers, team members, business and cash flows, pricing pressures due to domestic and foreign competition, seasonality and cyclicality in the industries to which we sell our products, availability of credit for financing the retail and wholesale purchase of products for which we sell our components, inventory levels of retail dealers and manufacturers, availability of transportation for products for which we sell our components, the financial condition of our customers, the financial condition of retail dealers of products for which we sell our components, retention and concentration of significant customers, the costs, pace of and successful integration of acquisitions and other growth initiatives, availability and costs of production facilities and labor, team member benefits, team member retention, realization and impact of expansion plans, efficiency improvements and cost reductions, the disruption of business resulting from natural disasters or other unforeseen events, the successful entry into new markets, the costs of compliance with environmental laws, laws of foreign jurisdictions in which we operate, other operational and financial risks related to conducting business internationally, and increased governmental regulation and oversight, information technology performance and security, the ability to protect intellectual property, warranty and product liability claims or product recalls, interest rates, oil and gasoline prices, and availability, the impact of international, national and regional economic conditions and consumer confidence on the retail sale of products for which we sell our components, and other risks and uncertainties discussed more fully under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and in the Company's subsequent filings with the Securities and Exchange Commission. Readers of this press release are cautioned not to place undue reliance on these forward-looking statements, since there can be no assurance that these forward-looking statements will prove to be accurate. The Company disclaims any obligation or undertaking to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law.

LCI INDUSTRIES

OPERATING RESULTS

(unaudited)

  Three Months Ended

March 31,

Last Twelve

2026

2025

Months

(In thousands, except per share amounts)

Net sales

$

1,090,517

$

1,045,590

$

4,166,944

Cost of sales

816,852

793,841

3,164,733

Gross profit

273,665

251,749

1,002,211

Warehouse and transportation

55,882

49,855

211,087

Selling, general and administrative expenses

122,624

120,577

497,360

Operating profit

95,159

81,317

293,764

Interest expense, net

9,913

5,991

39,632

Loss on extinguishment of debt

—

8,053

806

Gain on sale of real estate

—

—

(19,716

)

Income before income taxes

85,246

67,273

273,042

Provision for income taxes

22,299

17,835

71,283

Net income

$

62,947

$

49,438

$

201,759

Net income per common share:

Basic

$

2.60

$

1.94

$

8.23

Diluted

$

2.53

$

1.94

$

8.20

Weighted average common shares outstanding:

Basic

24,243

25,426

24,519

Diluted

24,913

25,426

24,593

Depreciation

$

16,350

$

16,663

$

66,742

Amortization

$

13,448

$

12,879

$

54,745

Capital expenditures

$

9,668

$

9,038

$

53,274

LCI INDUSTRIES

SEGMENT RESULTS

(unaudited)

  Three Months Ended

March 31,

Last Twelve

2026

2025

Months

(In thousands)

Net sales:

OEM Segment:

RV OEMs:

Travel trailers and fifth-wheels

$

442,006

$

471,194

$

1,679,048

Motorhomes

67,838

59,608

244,206

Adjacent Industries OEMs

342,970

292,753

1,295,658

Total OEM Segment net sales

852,814

823,555

3,218,912

Aftermarket Segment:

Total Aftermarket Segment net sales

237,703

222,035

948,032

Total net sales

$

1,090,517

$

1,045,590

$

4,166,944

Operating profit:

OEM Segment

$

76,504

$

61,973

$

198,651

Aftermarket Segment

18,655

19,344

95,113

Total operating profit

$

95,159

$

81,317

$

293,764

Depreciation and amortization:

OEM Segment depreciation

$

11,258

$

12,327

$

47,262

Aftermarket Segment depreciation

5,092

4,336

19,480

Total depreciation

$

16,350

$

16,663

$

66,742

OEM Segment amortization

$

9,411

$

9,114

$

38,961

Aftermarket Segment amortization

4,037

3,765

15,784

Total amortization

$

13,448

$

12,879

$

54,745

LCI INDUSTRIES

BALANCE SHEET INFORMATION

(unaudited)

  March 31,

December 31,

2026

2025

(In thousands)

ASSETS

Current assets

Cash and cash equivalents

$

142,237

$

222,615

Accounts receivable, net

376,112

243,425

Inventories, net

834,453

809,094

Prepaid expenses and other current assets

67,089

74,552

Total current assets

1,419,891

1,349,686

Fixed assets, net

419,363

428,031

Goodwill

619,548

622,183

Other intangible assets, net

386,486

402,568

Operating lease right-of-use assets

272,422

272,995

Other long-term assets

99,086

100,524

Total assets

$

3,216,796

$

3,175,987

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities

Current maturities of long-term indebtedness

$

3,666

$

3,683

Accounts payable, trade

211,530

202,257

Current portion of operating lease obligations

44,983

44,174

Accrued expenses and other current liabilities

227,799

223,253

Total current liabilities

487,978

473,367

Long-term indebtedness

941,339

941,502

Operating lease obligations

245,358

246,047

Deferred taxes

27,699

27,495

Other long-term liabilities

127,207

126,743

Total liabilities

1,829,581

1,815,154

Total stockholders' equity

1,387,215

1,360,833

Total liabilities and stockholders' equity

$

3,216,796

$

3,175,987

LCI INDUSTRIES

SUMMARY OF CASH FLOWS

(unaudited)

  Three Months Ended

March 31,

2026

2025

(In thousands)

Cash flows from operating activities:

Net income

$

62,947

$

49,438

Adjustments to reconcile net income to cash flows (used in) provided by operating activities:

Depreciation and amortization

29,798

29,542

Stock-based compensation expense

5,300

4,933

Loss on extinguishment of debt

—

8,053

Other non-cash items

3,502

2,181

Changes in assets and liabilities, net of acquisitions of businesses:

Accounts receivable, net

(134,457

)

(149,644

)

Inventories, net

(27,282

)

39,121

Prepaid expenses and other assets

8,093

5,800

Accounts payable, trade

11,327

30,005

Accrued expenses and other liabilities

7,313

23,289

Net cash flows (used in) provided by operating activities

(33,459

)

42,718

Cash flows from investing activities:

Capital expenditures

(9,668

)

(9,038

)

Acquisition of businesses

—

(29,579

)

Other investing activities

69

(3,423

)

Net cash flows used in investing activities

(9,599

)

(42,040

)

Cash flows from financing activities:

Vesting of stock-based awards, net of shares tendered for payment of taxes

(6,625

)

(4,813

)

Repayments under revolving credit facility

—

(19,261

)

Proceeds from term loan borrowings

—

391,000

Repayments under term loan and other borrowings

(998

)

(280,093

)

Proceeds from issuance of convertible notes

—

448,500

Repurchase of convertible notes

—

(368,920

)

Purchases of convertible note hedge contracts

—

(67,574

)

Proceeds from issuance of warrants concurrent with note hedge contracts

—

27,600

Partial unwind of convertible note hedge and warrants

—

1,378

Payment of debt issuance costs

—

(3,122

)

Payment of dividends

(27,927

)

(29,352

)

Repurchases of common stock

—

(28,255

)

Other financing activities

—

(217

)

Net cash flows (used in) provided by financing activities

(35,550

)

66,871

Effect of exchange rate changes on cash and cash equivalents

(1,770

)

(2,062

)

Net (decrease) increase in cash and cash equivalents

(80,378

)

65,487

Cash and cash equivalents at beginning of period

222,615

165,756

Cash and cash equivalents at end of period

$

142,237

$

231,243

LCI INDUSTRIES

SUPPLEMENTARY INFORMATION

(unaudited)

  Three Months Ended

March 31,

Last Twelve

2026

2025

Months

Industry Data(1) (in thousands of units):

Industry Wholesale Production:

Travel trailer and fifth-wheel RVs

73.4

86.4

285.2

Motorhome RVs

10.7

9.3

37.4

Industry Retail Sales:

Travel trailer and fifth-wheel RVs

52.2

62.7

307.6

Impact on dealer inventories

21.2

23.7

(22.4

)

Motorhome RVs

6.8

9.0

37.6

Twelve Months Ended

March 31,

2026

2025

Lippert Content Per Industry Unit Produced:

Travel trailer and fifth-wheel RV

$

5,826

$

5,164

Motorhome RV

$

3,970

$

3,750

March 31,

December 31,

2026

2025

2025

Balance Sheet Data (debt availability in millions):

Remaining availability under the revolving credit facility (2)

$

595.2

$

595.3

$

595.2

Days sales in accounts receivable, based on last twelve months

29.7

29.2

29.7

Inventory turns, based on last twelve months

4.1

4.1

4.2

2026

Estimated Full Year Data:

Revenue

$4.2 - $4.3 billion

Operating profit margin

7.5% - 8.0%

Adjusted diluted EPS

$8.75 - $9.25

Capital expenditures

$55 - $75 million

Depreciation and amortization

$115 - $125 million

Stock-based compensation expense

$24 - $27 million

Annual tax rate

25% - 27%

LCI INDUSTRIES
SUPPLEMENTARY INFORMATION
RECONCILIATION OF NON-GAAP MEASURES
(unaudited)

The following table reconciles net income to Adjusted EBITDA and net income as a percentage of net sales to Adjusted EBITDA as a percentage of net sales.

Three Months Ended March 31,

2026

2025

(In thousands)

Net income

$

62,947

$

49,438

Interest expense, net

9,913

5,991

Provision for income taxes

22,299

17,835

Depreciation expense

16,350

16,663

Amortization expense

13,448

12,879

EBITDA

$

124,957

$

102,806

Loss on extinguishment of debt

—

8,053

Adjusted EBITDA

$

124,957

$

110,859

Net sales

$

1,090,517

$

1,045,590

Net income as a percentage of net sales

5.8

%

4.7

%

Adjusted EBITDA as a percentage of net sales

11.5

%

10.6

%

The following table reconciles net income to adjusted net income and net income per diluted share to adjusted net income per adjusted diluted share ("Adjusted EPS").

Three Months Ended March 31,

2026

2025

(In thousands, except per share amounts)

Net income

$

62,947

$

49,438

Loss on extinguishment of debt

—

8,053

Tax effect of adjustment

—

(1,930

)

Adjusted net income

$

62,947

$

55,561

Weighted average common shares outstanding - diluted

24,913

25,426

Dilutive effect of 2030 Convertible Notes (1)

(580

)

—

Weighted average common shares outstanding - adjusted diluted

24,333

25,426

Net income per common share - diluted

$

2.53

$

1.94

Loss on extinguishment of debt

—

0.32

Tax effect of adjustment

—

(0.07

)

Dilutive effect of 2030 Convertible Notes (1)

0.06

—

Adjusted net income per common share - adjusted diluted (Adjusted EPS)

$

2.59

$

2.19

In addition to reporting financial results in accordance with U.S. GAAP, the Company has provided the non-GAAP performance measures of Adjusted EBITDA, Adjusted EBITDA as a percentage of net sales, adjusted net income, and Adjusted EPS to illustrate and improve comparability of its results from period to period. Adjusted EBITDA is defined as net income before interest expense, net, provision for income taxes, depreciation expense, amortization expense, and loss on extinguishment of debt, as applicable, during the three month periods ended March 31, 2026 and 2025. Adjusted net income is defined as net income adjusted for loss on extinguishment of debt and the related tax effect, as applicable, during the three month periods ended March 31, 2026 and 2025. Adjusted EPS is defined as adjusted net income divided by weighted average common shares outstanding - adjusted diluted, which includes an adjustment for the dilutive effect of the 2030 Convertible Notes under the if-converted method for the three month period ended March 31, 2026. The Company considers these non-GAAP measures in evaluating and managing the Company's operations and believes that discussion of results adjusted for these items is meaningful to investors because it provides a useful analysis of ongoing underlying operating trends. These measures are not in accordance with, nor are they substitutes for, GAAP measures, and they may not be comparable to similarly titled measures used by other companies.

Further, the Company has provided its outlook for full-year 2026 Adjusted EPS in this release. The Company is unable to provide a reconciliation of forward-looking non-GAAP financial measures to their most directly comparable GAAP financial measures because the Company is unable to provide, without unreasonable effort, a meaningful or accurate calculation or estimation of amounts that would be necessary for the reconciliation due to the complexity and inherent difficulty in forecasting and quantifying future amounts or when they may occur. The financial impact of such items is uncertain and is dependent on various factors, including timing, and could be material to the Company's consolidated statements of income.

LCI (LCII - Free Report) reported $1.09 billion in revenue for the quarter ended March 2026, representing a year-over-year increase of 4.3%. EPS of $2.59 for the same period compares to $2.19 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $1.09 billion, representing a surprise of +0.42%. The company delivered an EPS surprise of +16.93%, with the consensus EPS estimate being $2.22.

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

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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

Net sales- Total OEM Segment: $852.81 million compared to the $853.83 million average estimate based on three analysts.Net sales- Total Aftermarket Segment: $237.7 million versus $231.63 million estimated by three analysts on average.Net sales- Total OEM Segment- Adjacent Industries OEMs: $342.97 million versus the three-analyst average estimate of $318.57 million.Net sales- Total OEM Segment-Travel Trailer and Fifth-Wheels: $442.01 million versus the two-analyst average estimate of $464.35 million.Net sales- Total OEM Segment- Motorhomes [$M]: $67.84 million versus the two-analyst average estimate of $63.5 million.Operating profit- Aftermarket Segment: $18.66 million versus $20.75 million estimated by two analysts on average.Operating profit- OEM Segment: $76.5 million versus the two-analyst average estimate of $62.9 million.View all Key Company Metrics for LCI here>>>

Shares of LCI have returned -12.8% over the past month versus the Zacks S&P 500 composite's +9.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

LCI Industries continues to outperform in a challenged RV market, driven by innovation and increased content per vehicle. Q1 2026 results exceeded analyst expectations, with revenue at $1.09B and EPS at $2.53, despite lowered industry shipment guidance. Acquisitions in adjacent markets and aftermarket expansion are supporting revenue growth and diversification beyond core RVs.

MarketBeat Instant News Alerts

2 hours ago

Amkor Technology Target of Unusually Large Options Trading (NASDAQ:AMKR)MarketBeat

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) was the recipient of unusually large options trading on Friday. Investors acquired 12,436 call options on the company. This is an increase of approximately 48% compared to the average volume of 8,425 call options.

NASDAQ:AMKR

Read Amkor Technology Target of Unusually Large Options Trading (NASDAQ:AMKR)

3 hours ago

CocaCola (NYSE:KO) EVP Jennifer Mann Sells 23,984 SharesMarketBeat

CocaCola Company (The) (NYSE:KO - Get Free Report) EVP Jennifer Mann sold 23,984 shares of the firm's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $83.41, for a total value of $2,000,505.44. Following the completion of the transaction, the executive vice president owned 157,400 shares of the company's stock, valued at approximately $13,128,734. The trade was a 13.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

NYSE:KO

Read CocaCola (NYSE:KO) EVP Jennifer Mann Sells 23,984 Shares

Trending News All MarketBeat Instant News Alerts Sort By

Time Frame

Alert Type

Keywords

Page 1 of 324

Get 30 Days of MarketBeat All Access for Free

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools.

Start Your 30-Day Trial

Sign in to your free account to enjoy these benefits

In-depth profiles and analysis for 20,000 public companies. Real-time analyst ratings, insider transactions, earnings data, and more. Our daily ratings and market update email newsletter. Sign in to your free account to enjoy all that MarketBeat has to offer.

ELKHART, Ind.--(BUSINESS WIRE)--LCI Industries (NYSE: LCII), a leading supplier of engineered components to the recreation and transportation markets, today announced that its Board of Directors approved a regular quarterly cash dividend of $1.15 per share of common stock.

The dividend is payable on June 12, 2026, to stockholders of record at the close of business on May 29, 2026.

About LCI Industries

LCI Industries (NYSE: LCII), through its Lippert subsidiary, is a global leader in supplying engineered components to the outdoor recreation and transportation markets. We believe our innovative culture, advanced manufacturing capabilities, and dedication to enhancing the customer experience have established Lippert as a reliable partner for both OEM and aftermarket customers. For more information, visit www.lippert.com.

Forward-Looking Statements

This press release contains certain "forward-looking statements" with respect to our financial condition, results of operations, profitability, margin growth, business strategies, operating efficiencies or synergies, competitive position, growth opportunities, acquisitions, plans and objectives of management, markets for the Company's common stock, the impact of legal proceedings, and other matters. Statements in this press release that are not historical facts are "forward-looking statements" for the purpose of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, and involve a number of risks and uncertainties.

Forward-looking statements, including, without limitation, those relating to production levels, future business prospects, net sales, expenses and income (loss), capital expenditures, tax rate, cash flow, financial condition, liquidity, covenant compliance, retail and wholesale demand, integration of acquisitions, R&D investments, commodity prices, addressable markets, and industry trends, whenever they occur in this press release are necessarily estimates reflecting the best judgment of the Company's senior management at the time such statements were made. There are a number of factors, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those described in the forward-looking statements. These factors include, in addition to other matters described in this press release, the impacts of future pandemics, geopolitical tensions, armed conflicts, or natural disasters on the global economy and on the Company's customers, suppliers, employees, business and cash flows, pricing pressures due to domestic and foreign competition, costs and availability of, and tariffs on, raw materials (particularly steel and aluminum) and other components, seasonality and cyclicality in the industries to which we sell our products, availability of credit for financing the retail and wholesale purchase of products for which we sell our components, inventory levels of retail dealers and manufacturers, availability of transportation for products for which we sell our components, the financial condition of our customers, the financial condition of retail dealers of products for which we sell our components, retention and concentration of significant customers, the costs, pace of and successful integration of acquisitions and other growth initiatives, availability and costs of production facilities and labor, team member benefits, team member retention, realization and impact of expansion plans, efficiency improvements and cost reductions, the disruption of business resulting from natural disasters or other unforeseen events, the successful entry into new markets, the costs of compliance with environmental laws, laws of foreign jurisdictions in which we operate, other operational and financial risks related to conducting business internationally, and increased governmental regulation and oversight, information technology performance and security, the ability to protect intellectual property, warranty and product liability claims or product recalls, interest rates, oil and gasoline prices, and availability, the impact of international, national and regional economic conditions and consumer confidence on the retail sale of products for which we sell our components, and other risks and uncertainties discussed more fully under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and in the Company's subsequent filings with the Securities and Exchange Commission. Readers of this press release are cautioned not to place undue reliance on these forward-looking statements, since there can be no assurance that these forward-looking statements will prove to be accurate. The Company disclaims any obligation or undertaking to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law.

-

ELKHART, Ind.--(BUSINESS WIRE)--LCI Industries (NYSE: LCII), a leading supplier of engineered components to the recreation and transportation markets, today announced its participation in the Stifel Boston Cross Sector 1x1 Conference on June 2, 2026. Chief Financial Officer Lillian Etzkorn will host investor meetings throughout the day.

About LCI Industries

LCI Industries (NYSE: LCII), through its Lippert subsidiary, is a global leader in supplying engineered components to the outdoor recreation and transportation markets. We believe our innovative culture, advanced manufacturing capabilities, and dedication to enhancing the customer experience have established Lippert as a reliable partner for both OEM and aftermarket customers. For more information, visit www.lippert.com.

More News From LCI Industries

Back to Newsroom

ELKHART, Ind.--(BUSINESS WIRE)--LCI Industries (NYSE: LCII), a leading supplier of engineered components to the recreation and transportation markets, today announced that Jason Lippert has announced his retirement and has stepped down as the Company’s President and Chief Executive Officer and as a member of the Board of Directors after 32 years in the business. The Board of Directors has appointed Independent Director Johnny Sirpilla to serve as interim Chief Executive Officer, effective immediately. Jason Lippert has agreed to serve in an advisory capacity for a period of one year to support the transition. The Board will conduct a search for a permanent CEO and expects to consider both internal and external candidates.

Separately, as part of its long-term succession planning, the Board of Directors has named Virginia “Ginnie” Henkels as Chair of the Board, succeeding Tracy Graham, who stepped down from the Board of Directors after 10 years of service to dedicate his time to his core business.

The Board of Directors issued the following statement: “LCI Industries is a tremendous company with a bright future ahead, and we are committed to identifying a leader with the operational know-how and perspectives who can build on LCI Industries’ strong foundation to drive the Company’s next phase of profitable growth. With the excellent management team we have in place, the Board is confident that LCI Industries is well-positioned to enhance shareholder value while delivering for customers, consumers and team members. While we conduct a comprehensive search, we are pleased that Johnny Sirpilla, who has served on our Board since 2019 and brings over 35 years of executive and leadership experience in the RV and Outdoor Recreation industries, has stepped up to this interim position and will keep a steady hand on the wheel throughout this transition.”

The Board continued, “We want to thank Jason for his leadership and his deep commitment to LCI Industries over many decades. Under his leadership, LCI Industries grew from a company with $125M in annual revenue, to a company with annual revenue in excess of $4B. His contributions have helped shape this great company and will be important drivers of our future growth.”

“On behalf of the entire Board, I want to thank Tracy for his hard work and dedication over the last decade and for everything he has done for LCI Industries during that time,” said Virginia "Ginnie" Henkels, Chair of the Board. “Over the past several months, Tracy and the Board have been discussing Chairman succession planning, and we mutually agree that this is the appropriate time for this transition. I am honored to take on the Chair role at this important moment for LCI Industries.”

“I am committed to keeping the full focus of this organization on the strong execution of our strategy to serve customers and consumers and deliver compelling shareholder value,” said Johnny Sirpilla, interim Chief Executive Officer. “LCI Industries has a resilient business model, deep customer relationships and a team that has proven it can perform through challenging environments. I look forward to continuing to work with the Board and the leadership team as we move forward.”

“It has been the privilege of my career to lead this company and the extraordinary people who make it what it is," said Jason Lippert. "The Lippert family has been and will continue to be an important part of LCI Industries’ story and a supporter of its continued success. LCI Industries is a stronger business today than when I took the helm, and I am proud of what we have built together. At this important moment in the Company’s journey, this is the right time for this change, and I look forward to working with – and cheering on – our team members and leaders as they take LCI Industries into its next chapter.”

“Ten years ago, I joined this Board committed to helping build something durable, and I believe we have done that,” said Tracy Graham. “In early 2026, I began discussing my succession planning with the Board, and given the announced CEO transition and the commencement of a search for a permanent CEO, I believe now is the right time for this transition. I have the utmost confidence in Ginnie, Johnny, and the team to carry LCI Industries forward and take it to new heights.”

About Johnny Sirpilla

Johnny Sirpilla has been a member of the LCI Industries Board of Directors since 2019 and has over 35 years of executive and leadership experience in the RV and Outdoor Recreation industries, amongst others, and maintains strong relationships with customers and key stakeholders in the industry. Mr. Sirpilla began his career as an independent RV dealer before the business was acquired by Camping World, where he joined the Senior Executive Team. He subsequently served as President and Chief Business Development Officer of Camping World and Good Sam after serving in various executive roles in dealership operations, retail store leadership, logistics, M&A and other areas. Mr. Sirpilla is a current Board member of the Pro Football Hall of Fame and Society Brands.

About Virginia “Ginnie” Henkels

Ginnie Henkels has been a member of the LCI Industries Board of Directors since 2017 and has over 18 years of Board governance experience, and over 30 years of financial and leadership experience across a diverse portfolio of publicly-traded companies. Ms. Henkels previously served as Chief Financial Officer of Swift Transportation Company and held various financial leadership positions at Honeywell Inc. She currently serves on the Boards of Avnet Inc., Pursuit Attractions and Hospitality Inc. and privately-held Isaac Instruments.

About LCI Industries

LCI Industries (NYSE: LCII) is a global leader in supplying engineered components to the outdoor recreation and transportation markets. We believe our innovative culture, advanced manufacturing capabilities and dedication to enhancing the customer experience have established LCI Industries as a reliable partner for both OEM and aftermarket customers. For more information, visit www.lci1.com.

Forward-Looking Statements

This press release contains certain "forward-looking statements". Statements in this press release that are not historical facts are "forward-looking statements" for the purpose of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, and involve a number of risks and uncertainties.

Forward-looking statements are based on current expectations and assumptions and are subject to a number of factors, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those described in the forward-looking statements. These factors include, in addition to other matters described in this press release, the risks and uncertainties discussed more fully under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and in the Company's subsequent filings with the Securities and Exchange Commission. Readers of this press release are cautioned not to place undue reliance on these forward-looking statements, since there can be no assurance that these forward-looking statements will prove to be accurate. The Company disclaims any obligation or undertaking to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law.

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.

Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.

One company value investors might notice is LCI Industries (LCII - Free Report) . LCII is currently sporting a Zacks Rank #2 (Buy) and an A for Value. The stock is trading with a P/E ratio of 14.19, which compares to its industry's average of 19.40. Over the past 52 weeks, LCII's Forward P/E has been as high as 19.04 and as low as 10.65, with a median of 14.77.

We should also highlight that LCII has a P/B ratio of 1.78. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This stock's P/B looks solid versus its industry's average P/B of 4.30. Over the past year, LCII's P/B has been as high as 2.27 and as low as 1.39, with a median of 1.86.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. This is a preferred metric because revenue can't really be manipulated, so sales are often a truer performance indicator. LCII has a P/S ratio of 0.54. This compares to its industry's average P/S of 0.71.

These are only a few of the key metrics included in LCI Industries's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, LCII looks like an impressive value stock at the moment.

Liberty Broadband Corporation (LBRDK) Q1 2026 Earnings Call Transcript

ATLANTA, May 14, 2026 /PRNewswire/ -- Invesco Mortgage Capital Inc. (NYSE: IVR) (the "Company") today announced that the Company declared a cash dividend of $0.12 per share of common stock for the month of May 2026. The dividend will be paid on June 12, 2026 to stockholders of record at the close of business on May 26, 2026, with an ex-dividend date of May 26, 2026.

Tech exchange-traded funds (ETFs) have been some of the best-performing investments over the past few decades. They give investors access to a broad cross-section of the best technology stocks in one wrapper. This includes the biggest names, like Nvidia and Apple, the hottest tech stocks, like Sandisk and Micron Technology, and emerging stars you may have never even heard of -- yet.

There are some extremely popular tech ETFs that have delivered huge returns for investors over the years, like the Invesco QQQ (QQQ +0.76%), Vanguard Information Technology ETF (VGT +0.64%), State Street Technology Select SPDR ETF (NYSEMKT: XLK), and iShares U.S Technology ETF (IYW +0.86%).

Image source: Getty Images.

But there is one overlooked and underrated tech ETF that has outperformed them all over the years -- the Invesco Dorsey Wright Technology Momentum ETF (PTF +2.33%). If youʻre looking for a tech ETF, add this one to your list.

The best Invesco ETF -- and it's not QQQ The Invesco Dorsey Wright Technology Momentum ETF is based on the Dorsey Wright Technology Technical Leaders Index, which tracks at least 30 technology stocks from the Nasdaq Composite that exhibit strong relative strength or momentum.

Stocks with the best relative strength are considered the strongest performers based on a proprietary methodology that determines a momentum score. The portfolio includes at least 30 of the highest-momentum stocks. The stocks can come from across the technology sector and include small-, mid-, and large-cap names.

NASDAQ: PTFInvesco Exchange-Traded Fund Trust - Invesco Dorsey Wright Technology Momentum ETF

Today's Change

(

2.33

%) $

2.98

Current Price

$

130.83

Currently, the ETF contains 40 stocks with Sandisk, Nvidia, and Apple as the three largest holdings in the cap-weighted portfolio. Small-cap holdings include CACI International, InterDigital, and Vistance Networks.

The Invesco Dorsey Wright Technology Momentum ETF has been around since 2006. Since then, it has posted an average annualized return of 21%. Over the past one-, five-, and 10-year periods, it has had average annualized returns of 88%, 23%, and 26%, respectively. That beats its larger, aforementioned technology ETF competitors for every time period. And this year, as of May 21, this ETF has returned a whopping 58%.

The ETF has an expense ratio that is higher than average at 0.6%, but its consistent outperformance has more than accounted for it.

Investors should note this is a highly concentrated, sector-specific, aggressive-growth ETF, so it is prone to significant swings. But it does cast a wide net for tech stocks with momentum, so even in down markets, like 2022, it has outperformed the Nasdaq.

Investors may want to consider this underrated, overlooked ETF for the tech portion of their portfolio, as it will always hold the best-performing tech stocks at any given time. However, as an aggressive sector fund, it should be a relatively small part of a diversified portfolio.

Invesco Ltd. (IVZ) Presents at Bernstein 42nd Annual Strategic Decisions Conference Transcript

Both the State Street Health Care Select Sector SPDR ETF (XLV 0.20%) and the Invesco S&P 500 Equal Weight Health Care ETF (RSPH +0.26%) focus on the healthcare sector of the S&P 500, yet their internal mechanics create distinct investment profiles.

Investors choosing between them must decide if they prefer XLV’s stability and the momentum of the industry's largest players or RSPH’s broader, diversified exposure that comes with equal weighting across the entire sector.

Snapshot (cost & size)MetricRSPHXLVIssuerInvescoSPDRExpense ratio0.4%0.08%1-yr return (as of 5/29/26)9.3%14.95%Dividend yield0.7%1.72%Beta0.90.58AUM$684.9 million$37.2 billionBeta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The 1-yr return represents total return over the trailing 12 months. Dividend yield is the trailing-12-month distribution yield.

Cost is a primary differentiator here, as the State Street fund is significantly more affordable with an expense ratio of 0.08%. This lower fee structure, combined with a higher dividend yield of 1.7%, may appeal to income-focused investors looking for efficient compounding through the sector.

Performance & risk comparisonMetricRSPHXLVMax drawdown (5 yr)(22%)(17%)Growth of $1,000 over 5 years (total return)$1,134$1,311While both funds target the same segment of the market, their risk metrics have historically diverged. The State Street fund has shown more resilience with a lower maximum drawdown, and its total growth over five years has outpaced the Invesco fund by a significant margin.

What's insideState Street Health Care Select Sector SPDR ETF allocates 100% of its portfolio to the healthcare sector, tracking a market-cap-weighted index. This strategy results in significant concentration at the top; its largest positions include Eli Lilly & Co. at 16%, Johnson & Johnson at 10%, and AbbVie at 7%. Launched in 1998, the fund holds 60 stocks and has a trailing-12-month dividend of $2.51 per share. Because it is weighted by size, its performance is heavily influenced by the biggest pharmaceutical and biotech names in the market.

NYSEMKT: XLVSelect Sector SPDR Trust - State Street Health Care Select Sector SPDR ETF

Today's Change

(

-0.20

%) $

-0.30

Current Price

$

153.79

In contrast, Invesco S&P 500 Equal Weight Health Care ETF tracks an equal-weight index, which provides a very different risk profile. Although it also holds about 60 stocks, it allocates roughly equal capital to each, meaning smaller companies have as much impact as the giants. Its top holdings include Humana at 3%, Centene at 2.8%, and Elevance Health at 2.3%. Launched in 2006, the fund is 98% healthcare with small positions in cash and other assets. It paid $0.22 per share over the trailing 12 months. This approach reduces concentration risk but may lead to different volatility patterns during market shifts.

NYSEMKT: RSPHInvesco Exchange-Traded Fund Trust - Invesco S&P 500 Equal Weight Health Care ETF

Today's Change

(

0.26

%) $

0.08

Current Price

$

32.13

For more guidance on ETF investing, check out the full guide at this link.

What it means for investorsETFs can generally be composed in two ways: equal weighting, where every holding represents approximately the same share of the fund, or market-cap weighting, in which the larger companies make up a higher proportion of the fund than smaller companies. Both have their upsides: equal-weight funds like RSPH offer a more balanced approach, and investors may be able to capitalize on the larger upside potential of smaller companies. Market-cap-weighted funds like XLV give investors more exposure to the larger, more stable companies, minimizing risk and potentially maximizing dividend returns.

Cost is a big consideration with these two funds. XLV charges much lower fees than RSPH, as well as a dividend yield that’s an entire percentage point higher. Investors who are focused on income may be more drawn to this fund. It’s also a bit more resilient, with a lower maximum drawdown over the past five years. As an added bonus, its total returns over the past one and five years are also higher.

Key Takeaways CI GAM assumed management of 98 mutual funds and ETFs previously operated by Invesco Canada.Invesco affiliates will keep managing 61 funds totaling about C$13B under a sub-advisory deal.CI GAM's AUM rises to about C$175B, and 37 funds are set for CI rebranding by July 31, 2026. Invesco (IVZ - Free Report) completed the transfer of its Canadian fund management business to CI Global Asset Management (CI GAM), marking the close of a deal that significantly reshapes the Canadian investment fund landscape.

The transaction, initially announced in January 2026, involves management agreements tied to Invesco’s Canadian fund lineup, which oversees approximately C$27 billion in assets. With the deal now finalized, CI GAM has assumed management responsibilities for 98 mutual funds and exchange-traded funds (ETFs) that were previously operated by Invesco Canada.

IVZ Maintains Presence Through PartnershipAlthough management of the funds has shifted to CI GAM, Invesco will continue to play an important role through a long-term strategic partnership between the two firms. Under a sub-advisory arrangement, Invesco affiliates will keep providing portfolio management services for 61 funds representing roughly C$13 billion in assets.

The arrangement is designed to maintain continuity for investors by preserving the investment management approach of those funds while allowing CI GAM to oversee their administration and distribution.

CI GAM Gains Scale Following IVZ TransactionThe acquisition boosts CI GAM’s total assets under management (AUM) to approximately C$175 billion, strengthening its standing in Canada’s investment fund industry.

The company has said that the addition broadens its investment capabilities and enhances its product lineup with a wider range of strategies, including an expanded ETF offering.

IVZ Eyes Growth OpportunitiesInvesco remains focused on serving Canadian investors through its global investment offerings and sees potential opportunities arising from its ongoing relationship with CI GAM. The companies indicated that the partnership could eventually lead to the joint development of investment solutions tailored to the Canadian wealth market.

Before the transaction closed, investors in the affected funds approved the manager changes during meetings held in April 2026. CI GAM also plans to rebrand 37 funds under the CI name around July 31, 2026, with additional details expected in a forthcoming announcement.

Invesco’s Price Performance & Zacks RankIVZ shares have rallied 13.2% over the past six months, outpacing the industry’s 9% decline.

Image Source: Zacks Investment Research

At present, Invesco carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Acquisitions by Other Finance FirmsLast month, Hancock Whitney (HWC - Free Report) agreed to acquire OFB Bancshares, Inc., the parent company of One Florida Bank, in an all-cash transaction valued at $377.6 million. The deal marks a strategic expansion for HWC into the Orlando market, one of the fastest-growing large metro areas in the United States.

The acquisition is expected to be accretive to Hancock Whitney’s GAAP earnings, excluding one-time costs. The company projects high-single-digit earnings accretion, $15.8 million in cost savings, a CET1 ratio of 11.4% at close (expected in third-quarter 2026) and a 2027 pro-forma ROTCE of 16.3%.

KKR & Co. Inc. (KKR - Free Report) completed the acquisition of Arctos Partners, a premier institutional investor in professional sports franchise stakes globally and a provider of asset management solutions for sponsors.

The buyout is part of KKR’s strategy to expand its alternative investment platform through sports investing, GP solutions and secondaries capabilities, while strengthening its sourcing and origination engine across private markets.

, /PRNewswire/ -- Invesco High Income Trust II (NYSE: VLT) (the "Fund") today announced portfolio management changes.

Effective June 3, 2026, the following individuals are jointly and primarily responsible for the day-to-day management of Invesco High Income Trust II's portfolio: 

Thomas Moore, CFA, Portfolio Manager, who has been associated with Invesco Asset Management Limited and/or its affiliates since 2016. Rahim Shad, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2009.  Year Portfolio Manager began managing the Fund: 

Thomas Moore

Rahim Shad

VLT

2026

2021

For investor inquiries, call 1-800-341-2929.

This does not constitute a recommendation of any investment strategy or product for a particular investor. Investors should consult a financial professional before making any investment decisions.

About Invesco High Income Trust II.
Invesco High Income Trust II is managed by Invesco Advisers, Inc., a subsidiary of Invesco Ltd, one of the world's leading asset management firms serving clients in more than 120 countries. With US$2.2 trillion in assets under management as of March 31, 2026, we deliver a comprehensive range of investment capabilities across public, private, active, and passive. Our collaborative mindset, breadth of solutions and global scale mean we're well positioned to help retail and institutional investors rethink challenges and find new possibilities for success. For more information, visit Invesco High Income Trust II.

Invesco Distributors, Inc. is the U.S. distributor for Invesco Ltd.'s retail products. Invesco Advisers, Inc. is an investment adviser; it provides investment advisory services to individual and institutional clients and does not sell securities. Each entity is a wholly owned indirect subsidiary of Invesco Ltd.

Note: There is no assurance that a closed-end fund will achieve its investment objective. Common shares are bought on the secondary market and may trade at a discount or premium to NAV. Regular brokerage commissions apply.

NOT A DEPOSIT  |  NOT FDIC INSURED  l  MAY LOSE VALUE  l  NOT GUARANTEED BY A BANK  |  NOT IN INSURED BY ANY FEDERAL GOVERNMENT AGENCY

Contact: Matthew Chisum, [email protected], 212-652-4368

SOURCE Invesco Ltd.

, /PRNewswire/ -- Invesco Ltd. (NYSE: IVZ)1, a leading global asset management firm, announced today preliminary month-end assets under management (AUM) of $2,453.9 billion, an increase of 4.9% versus previous month-end. The firm delivered net long-term inflows of $18.9 billion in the month. Money market net inflows were $0.4 billion. AUM was positively impacted by favorable market returns which increased AUM by $96 billion. FX decreased AUM by $1.1 billion. Preliminary average total AUM for the quarter through May 31 was $2,331.3 billion, and preliminary average active AUM for the quarter through May 31 was $1,175.6 billion.

Total Assets Under Management

(in billions)

Total

ETFs & Index
Strategies

QQQ

Fundamental
Fixed Income

Fundamental
Equities

Private
Markets

China JV

Multi-
Asset/Other

Global
Liquidity

May 31, 20261

$2,453.9

$745.8

$494.0

$316.5

$319.5

$135.5

$158.7

$79.6

$204.3

April 30, 2026

$2,339.4

$701.4

$440.3

$315.8

$312.2

$134.1

$154.3

$77.7

$203.6

March 31, 2026

$2,159.5

$638.3

$372.5

$312.5

$287.7

$131.3

$141.9

$74.1

$201.2

February 28, 2026

$2,257.7

$672.1

$395.0

$316.0

$312.6

$131.8

$149.1

$78.6

$202.5

1 All May numbers preliminary – subject to adjustment.

About Invesco Ltd.
Invesco Ltd. is one of the world's leading asset management firms serving clients in more than 120 countries. With US$2.2 trillion in assets under management as of Mar. 31, 2026, we deliver a comprehensive range of investment capabilities across public, private, active, and passive. Our collaborative mindset, breadth of solutions and global scale mean we're well positioned to help retail and institutional investors rethink challenges and find new possibilities for success. For more information, visit www.invesco.com.

Category: AUM

Investor Relations Contacts:

Greg Ketron

404-724-4299

Jennifer Church

404-439-3428

Media Relations Contact:

Andrea Raphael

212-323-4202

SOURCE Invesco Ltd.

Also from this source

Key Takeaways Invesco posted May AUM of $2.45T, rising 4.9% from April on preliminary results.IVZ drew $18.9B net long-term inflows; money market net inflows added $0.4B.Invesco got a $96B market boost, offset by $1.1B FX drag; QQQ AUM rose 12.2% to $494B. Invesco (IVZ - Free Report) has announced preliminary assets under management (AUM) of $2.45 trillion for May 2026. This represents a 4.9% increase from the previous month.

In the reported month, Invesco’s net long-term inflows were $18.9 billion. Money market net inflows were $0.4 billion. AUM was positively impacted by favorable market returns, which increased the AUM by $96 billion. On the other hand, FX decreased the AUM by $1.1 billion.

Invesco’s preliminary average total AUM for the quarter through May 31, 2026, was $2.33 trillion, while preliminary average active AUM for the same period was $1.18 trillion.

Breakdown of Invesco’s AUM Performance by Asset ClassAt the end of May 2026, Invesco reported ETFs & Index Strategies AUM of $745.8 billion, up 6.3% from the previous month. Fundamental Fixed Income AUM of $316.5 billion increased marginally.

AUM under China JV increased 2.9% from March to $158.7 billion. AUM under Multi-Asset/Other was $79.6 billion, up 2.4% from the prior month’s end. QQQ’s AUM was $494 billion, up 12.2%. Private Market’s AUM was $135.5 billion, which increased 1% from April 2026.

Fundamental Equities AUM was up 2.3% from April to $319.5 billion. Global Liquidity AUM was $204.3 billion, up slightly from the prior month.

Our View on InvescoStrategic expansion initiatives, a strong global presence, diversified offerings, balance sheet recapitalization, improved operating efficiency and solid AUM are likely to keep supporting IVZ’s financial performance.

So far this year, Invesco's shares have gained 6.3% against the industry’s 12.2% fall.

Image Source: Zacks Investment Research

At present, IVZ carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Invesco’s Peer Performance in May 2026Franklin Resources, Inc. (BEN - Free Report) reported its preliminary AUM of $1.78 trillion as of May 31, 2026, which increased 1.9% from the prior month.

Growth in the AUM balance was driven by the positive impact of markets and preliminary long-term net inflows of $4 billion, including $1 billion of long-term net inflows at Western Asset Management.

Upcoming AUM Release of Another Invesco PeerT. Rowe Price Group, Inc. (TROW - Free Report) will announce its monthly performance in the upcoming days. TROW shares have rallied 3.5% this year.

Invesco Ltd. (IVZ) Presents at Morgan Stanley US Financials Conference 2026 Transcript

The Invesco Aerospace & Defense ETF (PPA 1.01%) offers a lower-cost, lower-volatility approach to defense than the ARK Space & Defense Innovation ETF (ARKX 1.60%), which prioritizes high-growth technology companies disrupting the space sector.

Both funds target the expanding aerospace and defense industries but take fundamentally different paths. While ARKX actively hunts for disruptive innovation across space exploration and orbital technologies, PPA follows a more established index-based strategy, favoring traditional U.S. defense contractors and homeland security firms that provide a more stable market profile.

Snapshot (cost & size)MetricARKXPPAIssuerARKInvescoExpense ratio0.75%0.58%1-yr return (as of June 8, 2026)58.1%25.1%Dividend yieldNone0.4%Beta1.410.74AUM$717.3 million$8.0 billionBeta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The 1-yr return represents total return over the trailing 12 months. Dividend yield is the trailing-12-month distribution yield.

The Invesco fund is more affordable for long-term holders, with a 0.58% expense ratio compared to the ARK fund’s 0.75%. This price gap reflects the difference between active management and index tracking.

Performance & risk comparisonMetricARKXPPAMax drawdown (4 yr)(25.6%)(15.4%)Growth of $1,000 over 4 years (total return)$2,352$2,410What's insideThe Invesco Aerospace & Defense ETF is a seasoned fund launched in 2005 that tracks an index of 61 U.S. defense and homeland security holdings. Its portfolio is heavily concentrated in industrials at 91%, with just 9% in technology. Its largest positions include The Boeing Company (BA 0.58%) at 8.7%, GE Aerospace (GE +1.09%) at 8.3%, and RTX (RTX 0.05%) at 6.9%. Over the trailing 12 months, it paid $0.66 per share in dividends. With $8 billion in assets under management (AUM), it offers significantly greater scale and liquidity than newer, thematic competitors.

In contrast, the ARK Space & Defense Innovation ETF was launched in 2021 and manages $717.3 million in assets under management (AUM). It holds a tighter basket of 45 positions and has not paid a dividend over the trailing 12 months. The portfolio has a smaller industrial tilt at 56% while carrying significant technology exposure at 27% and 8% in communication services. Top holdings include  Rocket Lab USA (RKLB 9.27%) at 8.7%, Advanced Micro Devices (AMD +5.56%) at 7.9%, and L3Harris Technologies  (LHX 1.25%) at 7.1%. This composition reflects an active management style that targets disruptive space technologies and innovation rather than just traditional defense contractors.

Which fund is the better buy?Not all ETFs are alike, even when they cover the same sector.

The key difference between the Invesco Aerospace & Defense ETF and the ARK Space & Defense Innovation ETF is that the Invesco offering is a passively managed ETF meant to reflect an index, the  SPADE Defense Index, while the ARK offering is actively managed, meaning a person or team is making decisions to shift assets among its investment landscape. Indeed, the weightings of ARKX’s top 10 holdings have changed notably since the end of the first quarter, with some stocks weighted more heavily other more lightly, and some replaced by new names in the top holdings list.

The active hand is paying off. The year-to-date return of ARKX is about 19%, with a 54% one-year return, and a cumulative return since its early 2021 inception of close to 75%.

The Invesco fund has done decently, with year-to-date and 1-year returns of nearly 13% and 31%, respectively, but that’s left a lot of money on the table compared to the ARK ETF.

If you trust that the active managers who have posted such good returns are acting on skill and insight, then the ARK Space & Defense Innovation ETF is the better choice, given the flexibility active management gives the fund to go in whatever direction the team sees fit to find profits. PPA, meanwhile, has to wait for the index company’s quarterly rebalancing to make any significant adjustments.

For more guidance on ETF investing, check out the full guide at this link.

Brendan Coffey has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices, Boeing, GE Aerospace, L3Harris Technologies, RTX, and Rocket Lab. The Motley Fool has a disclosure policy.

Energy stocks often experience cyclical swings, but the top stocks tend to be strong long-term investments because the world will continually consume more energy. But instead of sticking with the classic oil and gas stocks to profit from that trend, investors should consider buying some higher-growth plays in the solar and nuclear energy markets.

Both of those growing markets should benefit from global decarbonization initiatives, making them more resilient investments than the top fossil fuel stocks. If you want to profit from that shift, you should invest in these two higher-growth energy stocks: Nextpower (NXT +3.47%) in the solar market and BWX (BWXT +0.04%) in the nuclear market.

Image source: Getty Images.

Nextpower Nextpower is the world's largest producer of solar trackers, which tilt solar panels to follow the sun throughout the day. It also produces electrical balance-of-systems (eBOS) solutions for moving electricity from solar panels to the grid, robotics systems for maintaining solar farms, and AI software for predicting weather and automating a solar power plant's operations.

Today's Change

(

3.47

%) $

4.15

Current Price

$

123.83

Nextpower still generates most of its revenue from selling solar trackers in North America, but it's expanding overseas and beefing up its smaller businesses through acquisitions. That expansion is locking in its customers, widening its moat against its competitors, and turning it into a "one-stop" shop that supports the entire lifecycle of a solar power plant.

The global solar market's total volume could expand at a 19.9% CAGR from 2026 to 2031, according to Mordor Intelligence, as more companies ramp up renewable energy investments to meet the power-hungry demands of of the artificial intelligence (AI), cloud infrastructure, and data center markets.

From fiscal 2025 (which ended last March) to fiscal 2027, analysts expect Nextpower's revenue and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to grow at CAGRs of 13% and 12%, respectively. With an enterprise value of $20.4 billion, it still looks reasonably valued at five times this year's sales and 22 times its adjusted EBITDA. So if you're looking for a simple play on the growing solar market, Nextpower checks all the right boxes.

BWX Technologies BWX, which was spun off from Babcock & Wilcox (BW +2.96%) in 2025, is the only large-scale nuclear equipment manufacturing facility in North America. It produces specialized nuclear components, fuel systems, and naval reactor systems in its large precision nuclear fabrication facilities. It's also one of the only companies simultaneously licensed to work with regulated nuclear materials, handle high-assay enriched uranium (HALEU) and tri-structural isotropic (TRISO) fuel, and manufacture naval reactor components for the U.S. Navy.

Today's Change

(

0.04

%) $

0.07

Current Price

$

194.75

Those facilities, which are widely considered irreplaceable parts of the nuclear supply chain, make BWX a linchpin of the nuclear energy market. Its heavy exposure to the defense sector also helped it keep growing, even as many countries reined in their nuclear spending in the decade after the Fukushima disaster in 2011.

BWX's backlog grew 50% year over year to $7.3 billion at the end of 2025, driven by the demand for naval propulsion components for submarines, commercial nuclear power components, and special materials. Its nascent small modular reactor (SMR) business, which produces smaller and easier-to-deploy nuclear reactors for remote areas, is also attracting more attention as a long-term play on the AI, cloud infrastructure, and data center markets.

From 2025 to 2028, analysts expect BWX's revenue and adjusted EBITDA to grow at 13% and 12% CAGRs, respectively. With an enterprise value of $20.1 billion, it isn't cheap at five times this year's sales and 30 times its adjusted EBITDA. Still, its wide moat and exposure to the resurgent nuclear energy market should justify that higher valuation.

The nuclear energy market cooled for roughly a decade after the Fukushima disaster in 2011, prompting many countries to pause their nuclear projects. But over the past few years, new decarbonization initiatives, safer nuclear reactors, and the expansion of the AI, cloud, and data center markets have driven more companies to restart their nuclear energy projects.

According to the International Energy Agency (IEA), the world's nuclear capacity could increase by more than 50% from 2025 to 2050. To capitalize on that trend, investors should look for nuclear companies that control crucial parts of the global nuclear energy supply chain. Two of those companies are Cameco (CCJ +2.12%) and BWX Technologies (BWXT +0.04%).

Image source: Getty Images.

Cameco Cameco, which mined roughly 15% of the world's uranium in 2025, is the world's second-largest uranium miner after Kazatomprom, Kazakhstan's national atomic company. It's based in Canada, and it operates mines across Canada, the U.S., and Kazakhstan.

Today's Change

(

2.12

%) $

2.10

Current Price

$

101.07

Cameco struggled for years after the Fukushima disaster in 2011. Uranium's spot price plunged from $62.25 per pound in 2011 to $35.00 in 2020, forcing Cameco to temporarily shut down its largest mines and mills. That reduced production throttled its revenue growth.

But by the end of this April, uranium's spot price had bounced back to $86.35 per pound. Citi analysts expect it to rise as high as $125 per pound this year, as the resurgent interest in nuclear energy drives the demand for uranium to outstrip its supply. Cameco restarted its mines and mills to meet that soaring demand, but its supply remains tight.

Cameco also partnered with Brookfield Asset Management to acquire Westinghouse Electric, one of the world's leading nuclear technology companies, in 2023. That investment reduced Cameco's exposure to volatile uranium prices and marked a major step toward its evolution into a more diversified nuclear energy company.

From 2025 to 2028, analysts expect Cameco's revenue and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to grow at CAGRs of 8% and 12%, respectively. With an enterprise value of $61.5 billion, it isn't cheap at 33 times this year's adjusted EBITDA -- but the soaring demand for uranium could justify that higher valuation. It only pays a paltry forward yield of 0.2%, but its low payout ratio of 16% gives it ample room for future hikes.

BWX Technologies BWX is the only large-scale producer of specialized nuclear components, fuel systems, and naval reactor systems in North America. It's also one of the only companies authorized to work with regulated nuclear materials, handle high-assay enriched uranium (HALEU) and tri-structural isotropic (TRISO) fuel, and produce naval reactor components for the U.S. Navy.

Today's Change

(

0.04

%) $

0.07

Current Price

$

194.75

Those qualities make BWX, which was spun off from Babcock & Wilcox in 2025, a linchpin and bellwether of the nuclear energy market. Its heavy exposure to the defense sector also insulated it from the broader slowdown in nuclear spending after the Fukushima disaster.

At the end of 2025, BWX's backlog grew 50% year over year to $7.3 billion as it produced more naval propulsion components for submarines, sold more commercial nuclear power components, and expanded its fledgling small modular reactor (SMR) business -- which produces smaller and easier-to-deploy nuclear reactors for remote areas. The rapid expansion of the power-hungry AI and data center markets should drive more companies to adopt SMRs.

From 2025 to 2028, analysts expect BWX's revenue and adjusted EBITDA to grow at CAGRs of 13% and 12%, respectively. With an enterprise value of $19.5 billion, it isn't a bargain at 30 times this year's adjusted EBITDA.

However, BWX's scale, diversification, and wide moat could justify that premium valuation as its defense and commercial customers ramp up their nuclear spending. It only pays a forward yield of 0.5% today, but its low payout ratio of 27% also gives it plenty of room to raise its dividend.

Which of these nuclear stocks has a brighter future?