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Huntsman Corporation (NYSE: HUN - Get Free Report)'s share price fell 6.7% during mid-day trading on Friday. The stock traded as low as $10.76 and last traded at $10.7360. 1,145,207 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 6,525,580 shares. The stock had previously closed at $11.51.

Posted by Defense World Staff on Apr 8th, 2026

Shares of Huntsman Corporation (NYSE:HUN – Get Free Report) have earned an average rating of “Reduce” from the fourteen research firms that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $12.4091.

Several research firms have recently issued reports on HUN. The Goldman Sachs Group reiterated a “sell” rating and issued a $13.00 price objective on shares of Huntsman in a report on Friday, February 20th. Weiss Ratings reiterated a “sell (d)” rating on shares of Huntsman in a report on Thursday, January 22nd. Mizuho increased their price objective on shares of Huntsman from $8.00 to $9.00 and gave the company an “underperform” rating in a report on Wednesday, February 18th. Wells Fargo & Company increased their target price on shares of Huntsman from $9.00 to $12.00 and gave the company an “equal weight” rating in a research note on Thursday, February 19th. Finally, Royal Bank Of Canada increased their target price on shares of Huntsman from $13.00 to $14.00 and gave the company a “sector perform” rating in a research note on Thursday, February 19th.

Read Our Latest Report on Huntsman

Institutional Trading of Huntsman Several institutional investors and hedge funds have recently added to or reduced their stakes in HUN. Strategic Advocates LLC acquired a new stake in Huntsman during the third quarter valued at approximately $27,000. SJS Investment Consulting Inc. acquired a new stake in shares of Huntsman during the third quarter valued at approximately $33,000. GAMMA Investing LLC raised its holdings in shares of Huntsman by 104.9% during the third quarter. GAMMA Investing LLC now owns 3,935 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 2,015 shares during the period. Strengthening Families & Communities LLC raised its holdings in shares of Huntsman by 2,182.0% during the third quarter. Strengthening Families & Communities LLC now owns 4,313 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 4,124 shares during the period. Finally, Bayforest Capital Ltd raised its holdings in shares of Huntsman by 986.0% during the third quarter. Bayforest Capital Ltd now owns 6,505 shares of the basic materials company’s stock valued at $58,000 after acquiring an additional 5,906 shares during the period. 84.81% of the stock is owned by institutional investors and hedge funds.

Huntsman Trading Up 5.5% Huntsman stock opened at $13.23 on Wednesday. The firm has a 50 day simple moving average of $12.45 and a 200-day simple moving average of $10.63. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 0.78. The stock has a market capitalization of $2.30 billion, a PE ratio of -8.07 and a beta of 0.59. Huntsman has a 12-month low of $7.30 and a 12-month high of $14.38.

Huntsman (NYSE:HUN – Get Free Report) last posted its quarterly earnings data on Tuesday, February 17th. The basic materials company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.08). The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.34 billion. Huntsman had a negative net margin of 5.00% and a negative return on equity of 3.97%. The company’s revenue was down 6.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.25) earnings per share. As a group, equities research analysts expect that Huntsman will post 0.32 EPS for the current fiscal year.

Huntsman Announces Dividend The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were paid a dividend of $0.0875 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.35 annualized dividend and a yield of 2.6%. Huntsman’s dividend payout ratio is currently -21.34%.

About Huntsman (Get Free Report)

Huntsman Corporation is a global manufacturer and marketer of specialty chemicals with headquarters in The Woodlands, Texas. Founded in 1970 by entrepreneur Jon Huntsman Sr., the company has grown through strategic acquisitions and organic expansion to establish a broad portfolio of products serving diverse end markets. Huntsman maintains a presence in more than 30 countries, operating manufacturing facilities across North America, Europe, Asia-Pacific, Latin America and the Middle East.

The company organizes its operations into several core business segments, including Polyurethanes, Performance Products, Advanced Materials, and Textile Effects.

Further Reading Five stocks we like better than Huntsman

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Huntsman (NYSE:HUN – Get Free Report) and Air Products and Chemicals (NYSE:APD – Get Free Report) are both basic materials companies, but which is the superior business? We will compare the two businesses based on the strength of their institutional ownership, analyst recommendations, dividends, profitability, valuation, risk and earnings.

Profitability This table compares Huntsman and Air Products and Chemicals’ net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets Huntsman -5.00% -3.97% -1.70% Air Products and Chemicals -2.73% 15.77% 6.75% Valuation and Earnings This table compares Huntsman and Air Products and Chemicals”s revenue, earnings per share (EPS) and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Huntsman $5.68 billion 0.41 -$284.00 million ($1.64) -8.14 Air Products and Chemicals $12.04 billion 5.39 -$394.50 million ($1.51) -193.07 Huntsman has higher earnings, but lower revenue than Air Products and Chemicals. Air Products and Chemicals is trading at a lower price-to-earnings ratio than Huntsman, indicating that it is currently the more affordable of the two stocks.

Dividends Huntsman pays an annual dividend of $0.35 per share and has a dividend yield of 2.6%. Air Products and Chemicals pays an annual dividend of $7.24 per share and has a dividend yield of 2.5%. Huntsman pays out -21.3% of its earnings in the form of a dividend. Air Products and Chemicals pays out -479.5% of its earnings in the form of a dividend. Both companies have healthy payout ratios and should be able to cover their dividend payments with earnings for the next several years. Huntsman has increased its dividend for 4 consecutive years and Air Products and Chemicals has increased its dividend for 43 consecutive years.

Institutional & Insider Ownership 84.8% of Huntsman shares are held by institutional investors. Comparatively, 81.7% of Air Products and Chemicals shares are held by institutional investors. 6.8% of Huntsman shares are held by insiders. Comparatively, 1.9% of Air Products and Chemicals shares are held by insiders. Strong institutional ownership is an indication that hedge funds, large money managers and endowments believe a company will outperform the market over the long term.

Risk & Volatility Huntsman has a beta of 0.59, suggesting that its stock price is 41% less volatile than the S&P 500. Comparatively, Air Products and Chemicals has a beta of 0.8, suggesting that its stock price is 20% less volatile than the S&P 500.

Analyst Recommendations This is a summary of current recommendations for Huntsman and Air Products and Chemicals, as provided by MarketBeat.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Huntsman 4 8 1 1 1.93 Air Products and Chemicals 0 6 10 0 2.63 Huntsman presently has a consensus price target of $12.41, indicating a potential downside of 7.01%. Air Products and Chemicals has a consensus price target of $303.94, indicating a potential upside of 4.25%. Given Air Products and Chemicals’ stronger consensus rating and higher possible upside, analysts clearly believe Air Products and Chemicals is more favorable than Huntsman.

Summary Air Products and Chemicals beats Huntsman on 12 of the 18 factors compared between the two stocks.

About Huntsman (Get Free Report)

Huntsman Corporation manufactures and sells diversified organic chemical products worldwide. The company operates in three segments: Polyurethanes, Performance Products, and Advanced Materials. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyether and polyester polyols, and thermoplastic polyurethane; and aniline, benzene, nitrobenzene and other co-products. The Performance Products segment manufactures amines, such as polyetheramines, ethyleneamines, DGA Agent, JEFFCAT catalysts, and E-GRADE specialty amines and carbonates; and maleic anhydrides. The Advanced Materials segment offers epoxy, phenoxy, acrylic, polyurethane, and acrylonitrile-butadiene-based polymer formulations; and thermoset resins, curing and toughening agents, and carbon nanomaterials. The company provides pre-and post-sales technical service support to customers. Its products are used in a range of applications, including adhesives, aerospace, automotive, construction products, durable and non-durable consumer products, electronics, insulation, packaging, coatings and construction, power generation, and refining, as well as serves the elastomers, insulation, footwear, furniture, industrial, oil and gas, liquid natural gas transport, printed circuit boards, consumer, appliances, electrical power transmission and distribution, recreational sports equipment, and medical appliances markets. The company sells its products through a network of distributors and agents. Huntsman Corporation was founded in 1970 and is headquartered in The Woodlands, Texas.

About Air Products and Chemicals (Get Free Report)

Air Products and Chemicals, Inc. provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals. It also designs and manufactures equipment for air separation, hydrocarbon recovery and purification, natural gas liquefaction, and liquid helium and liquid hydrogen transport and storage. The company was founded in 1940 and is headquartered in Allentown, Pennsylvania.

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First Quarter Highlights

First quarter 2026 net loss attributable to Huntsman of $53 million compared to a net loss of $5 million in the prior year period; first quarter 2026 diluted loss per share of $0.31 compared to diluted loss per share $0.03 in the prior year period. First quarter 2026 adjusted net loss attributable to Huntsman of $35 million compared to adjusted net loss of $19 million in the prior year period; first quarter 2026 adjusted diluted loss per share of $0.20 compared to adjusted diluted loss per share of $0.11 in the prior year period. First quarter 2026 adjusted EBITDA of $73 million compared to $72 million in the prior year period. First quarter 2026 net cash used in operating activities from continuing operations was $53 million. Free cash flow was a use of cash of $91 million for the first quarter 2026 compared to a use of cash of $107 million in the prior year period.

Three months ended

March 31,

In millions, except per share amounts

2026

2025

Revenues

$     1,420

$     1,410

Net loss attributable to Huntsman Corporation

$        (53)

$          (5)

Adjusted net loss(1)

$        (35)

$        (19)

Diluted loss per share

$     (0.31)

$     (0.03)

Adjusted diluted loss per share(1)

$     (0.20)

$     (0.11)

Adjusted EBITDA(1)

$         73

$         72

Net cash used in operating activities from continuing operations

$        (53)

$        (71)

Free cash flow(2)

$        (91)

$      (107)

See end of press release for footnote explanations and reconciliations of non-GAAP measures.

, /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) today reported first quarter 2026 results with revenues of $1,420 million, net loss attributable to Huntsman of $53 million, adjusted net loss attributable to Huntsman of $35 million and adjusted EBITDA of $73 million. 

Peter R. Huntsman, Chairman, President, and CEO, commented:

"The first two months of the first quarter progressed as expected with some early trends of year-on-year volume improvement. In March, the onset of the war in the Middle East introduced significant volatility with a sharp rise in feedstock costs, particularly benzene and European natural gas. We immediately increased prices across all products and regions to ensure margins were protected. Despite the conflict, we did see year on year volume growth of 4% in Polyurethanes including some improvement in Europe, and our Advanced Materials revenues grew over 10% as sales into Aerospace increased. While conditions remain highly unpredictable, we are concentrating on margin improvement, cost reduction and cash flow generation. Looking ahead to the second quarter of 2026, we anticipate a step up in profitability, with an increase in volumes combined with margin expansion resulting from our worldwide pricing initiatives."

Segment Analysis for 1Q26 Compared to 1Q25

Polyurethanes

The increase in revenues in our Polyurethanes segment for the three months ended March 31, 2026 compared to the same period of 2025 was primarily due to higher sales volumes, partially offset by lower average selling prices. Sales volumes increased primarily in the Americas and Europe regions. MDI average selling prices decreased primarily due to less favorable supply and demand dynamics, partially offset by the positive impact of major foreign currency exchange rate movements against the U.S. dollar. The decrease in segment adjusted EBITDA was primarily due to lower margins, partially offset by higher sales volumes, higher equity earnings from our minority-owned joint venture in China and cost savings achieved from our cost optimization program.

Performance Products

The decrease in revenues in our Performance Products segment for the three months ended March 31, 2026 compared to the same period of 2025 was primarily due to lower sales volumes and lower average selling  prices. Sales volumes decreased primarily due to the closure of our Moers, Germany maleic anhydride facility announced in May 2025 and lower demand. Average selling prices decreased primarily due to competitive pressures. The decrease in segment adjusted EBITDA was primarily due to lower sales volumes and margins, partially due to shipment disruptions throughout March 2026 at our consolidated joint venture in Saudi Arabia.

Advanced Materials

The increase in revenues in our Advanced Materials segment for the three months ended March 31, 2026 compared to the same period of 2025 was primarily due to higher average selling prices and higher sales volumes. Average selling prices increased primarily due to favorable sales mix and the positive impact of major foreign currency exchange rate movements against the U.S. dollar. Sales volumes increased primarily in our aerospace, power, and automotive markets. The increase in segment adjusted EBITDA was primarily due to higher sales volumes.

Liquidity and Capital Resources

During the three months ended March 31, 2026, our free cash flow used was $91 million as compared to a use of $107 million in the same period of 2025. As of March 31, 2026, we had approximately $0.9 billion of combined cash and unused borrowing capacity.

During the three months ended March 31, 2026, we spent $38 million on capital expenditures as compared to $36 million in the same period of 2025. During 2026, we expect capital expenditures to be similar with 2025.

Income Taxes

In the first quarter of 2026, our effective tax rate was -38% and our adjusted effective tax rate was not meaningful.

Earnings Conference Call Information

We will hold a conference call to discuss our first quarter 2026 financial results on Friday, May 1, 2026, at 10:00 a.m. ET.

Webcast link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=CrqpAfyY

Participant dial-in numbers:
Domestic callers:                    (877) 402-8037
International callers:               (201) 378-4913

The conference call will be accompanied by presentation slides that will be accessible via the webcast link and Huntsman's investor relations website, www.huntsman.com/investors. Upon conclusion of the call, the webcast replay will be accessible via Huntsman's website.

Upcoming Conferences
During the second quarter 2026, a member of management is expected to present at:
TPH&Co. Hotter 'N Hell Conference, May 12, 2026
Mizuho Smid Cap Chemicals Conference, June 2, 2026  
Deutsche Bank Global Industrials & Materials Conference, June 3, 2026

A webcast of the presentation, if applicable, along with accompanying materials will be available at www.huntsman.com/investors.

Table 1 -- Results of Operations

Three months ended

March 31,

In millions, except per share amounts

2026

2025

Revenues

$     1,420

$     1,410

Cost of goods sold

1,237

1,209

Gross profit

183

201

Operating expenses:

Selling, general and administrative

163

166

Research and development

29

32

Restructuring, impairment and plant closing costs

6

1

Gain on acquisition of assets, net

-

(5)

Income associated with litigation matter, net

-

(33)

Other operating expense (income), net

1

(2)

Total operating expenses

199

159

Operating (loss) income

(16)

42

Interest expense, net

(21)

(19)

Equity in income of investment in unconsolidated affiliates

5

1

Other income, net

3

3

(Loss) income from continuing operations before income taxes

(29)

27

Income tax expense

(11)

(15)

(Loss) income from continuing operations

(40)

12

Loss from discontinued operations, net of tax

(1)

(1)

Net (loss) income

(41)

11

Net income attributable to noncontrolling interests

(12)

(16)

Net loss attributable to Huntsman Corporation

$        (53)

$          (5)

Adjusted EBITDA(1)

$         73

$         72

Adjusted net loss (1)

$        (35)

$        (19)

Basic loss per share

$     (0.31)

$     (0.03)

Diluted loss per share

$     (0.31)

$     (0.03)

Adjusted diluted loss per share(1)

$     (0.20)

$     (0.11)

Common share information:

Basic weighted average shares

173

172

Diluted weighted average shares

173

172

Diluted shares for adjusted diluted loss per share

173

172

See end of press release for footnote explanations.

Table 2 -- Results of Operations by Segment

Three months ended

March 31,

Better /

In millions

2026

2025

(worse)

Segment revenues:

Polyurethanes

$       923

$       912

1 %

Performance Products

228

257

(11 %)

Advanced Materials

279

249

12 %

Total reportable segments' revenues

1,430

1,418

1 %

Intersegment eliminations

(10)

(8)

N/M

Total revenues

$     1,420

$     1,410

1 %

Segment adjusted EBITDA(1):

Polyurethanes

$         39

$         42

(7 %)

Performance Products

26

30

(13 %)

Advanced Materials

45

36

25 %

N/M = not meaningful

See end of press release for footnote explanations.

Table 3 -- Factors Impacting Sales Revenue

Three months ended

March 31, 2026 vs. 2025

Average selling price(a)

Local

Exchange

Sales

currency & mix

rate

volume(b)

Total

Polyurethanes

(6 %)

3 %

4 %

1 %

Performance Products

(4 %)

2 %

(9 %)

(11 %)

Advanced Materials

4 %

5 %

3 %

12 %

Combined segments

(4 %)

4 %

1 %

1 %

(a) Excludes sales from tolling arrangements, by-products and raw materials.

(b) Excludes sales from by-products and raw materials.

Table 4 -- Reconciliation of U.S. GAAP to Non-GAAP Measures

 Income tax 

 Net 

 Diluted (loss) income 

 EBITDA 

and other expense

 (loss) income 

 per share 

Three months ended

Three months ended

Three months ended

Three months ended

March 31,

March 31,

March 31,

March 31,

In millions, except per share amounts

2026

2025

2026

2025

2026

2025

2026

2025

Net (loss) income

$         (41)

$          11

$         (41)

$          11

$      (0.24)

$       0.06

Net income attributable to noncontrolling interests

(12)

(16)

(12)

(16)

(0.07)

(0.09)

Net loss attributable to Huntsman Corporation

(53)

(5)

(53)

(5)

(0.31)

(0.03)

Interest expense, net

21

19

Income tax expense

11

15

$         (11)

$         (15)

Depreciation and amortization

73

69

Business acquisition and integration gain and purchase accounting inventory adjustments, net

-

(5)

-

-

-

(5)

-

(0.03)

EBITDA / Loss from discontinued operations

1

1

 N/A 

 N/A 

1

1

0.01

0.01

Establishment of significant deferred tax asset valuation allowances

-

-

-

9

-

9

-

0.05

Loss on early extinguishment of debt

1

-

-

-

1

-

0.01

-

Certain legal and other settlements and related expenses (income), net

4

(33)

-

7

4

(26)

0.02

(0.15)

Amortization of pension and postretirement actuarial losses

7

7

(2)

(2)

5

5

0.03

0.03

Restructuring, impairment and plant closing and transition costs

8

4

(1)

(2)

7

2

0.04

0.01

Adjusted(1)

$          73

$          72

$         (14)

$          (3)

(35)

(19)

$      (0.20)

$      (0.11)

Adjusted income tax expense(1)

14

3

Net income attributable to noncontrolling interests

12

16

Adjusted pre-tax loss (1)

$          (9)

$          -

Adjusted effective tax rate(3)

N/M

N/M

Effective tax rate

(38 %)

56 %

N/M = not meaningful

N/A = not applicable

See end of press release for footnote explanations.

Table 5 -- Selected Balance Sheet Items

March 31,

December 31,

In millions

2026

2025

Cash

$              369

$              429

Accounts and notes receivable, net

776

677

Inventories

885

818

Prepaid expenses

104

94

Other current assets

45

46

Property, plant and equipment, net

2,441

2,486

Other noncurrent assets

2,511

2,465

Total assets

$            7,131

$            7,015

Accounts payable(5)

$              843

$              758

Other current liabilities(5)

500

478

Current portion of debt

376

353

Long-term debt

1,680

1,658

Other noncurrent liabilities

830

811

Huntsman Corporation stockholders' equity

2,681

2,750

Noncontrolling interests in subsidiaries

221

207

Total liabilities and equity

$            7,131

$            7,015

See end of press release for footnote explanations.

Table 6 -- Outstanding Debt

March 31,

December 31,

In millions

2026

2025

Debt:

Revolving credit facility

$              367

$              343

Senior notes

1,489

1,488

Amounts outstanding under A/R programs

173

152

Variable interest entities

5

7

Other debt

22

21

Total debt - excluding affiliates

2,056

2,011

Total cash

369

429

Net debt - excluding affiliates(4)

$            1,687

$            1,582

See end of press release for footnote explanations.

Table 7 -- Summarized Statement of Cash Flows

Three months ended

March 31,

In millions

2026

2025

Total cash at beginning of period

$           429

$           340

Net cash used in operating activities from continuing operations

(53)

(71)

Net cash used in operating activities from discontinued operations

-

(3)

Net cash (used in) provided by investing activities

(37)

6

Net cash provided by financing activities

30

60

Effect of exchange rate changes on cash

-

2

Total cash at end of period

$           369

$           334

Free cash flow(2):

Net cash used in operating activities from continuing operations

$            (53)

$            (71)

Capital expenditures

(38)

(36)

Free cash flow from continuing operations(2)

$            (91)

$          (107)

Supplemental cash flow information:

Cash paid for interest

$              (5)

$              (8)

Cash paid for income taxes

(14)

(12)

Cash paid for restructuring and integration

(12)

(3)

Cash paid for pensions

(9)

(8)

Depreciation and amortization from continuing operations

73

69

Change in primary working capital:

Accounts and notes receivable

$          (111)

$            (65)

Inventories

(75)

(101)

Accounts payable(5)

105

(27)

Total change in primary working capital

$            (81)

$          (193)

See end of press release for footnote explanations.

Footnotes

(1)

We use adjusted EBITDA to measure the operating performance of our business and for planning and evaluating the performance of our business segments.  We provide adjusted net income (loss) because we feel it provides meaningful insight for the investment community into the performance of our business.  We believe that net income (loss) is the performance measure calculated and presented in accordance with generally accepted accounting principles in the U.S. ("GAAP") that is most directly comparable to adjusted EBITDA and adjusted net income (loss).  Additional information with respect to our use of each of these financial measures follows:

Adjusted EBITDA, adjusted net income (loss) and adjusted diluted income (loss) per share, as used herein, are not necessarily comparable to other similarly titled measures of other companies.

Adjusted EBITDA is computed by eliminating the following from net income (loss):  (a) net income attributable to noncontrolling interests; (b) interest expense, net; (c) income taxes; (d) depreciation and amortization; (e) amortization of pension and postretirement actuarial losses; (f) restructuring, impairment and plant closing and transition costs; and further adjusted for certain other items set forth in the reconciliation of net income (loss) to adjusted EBITDA in Table 4 above. 

Adjusted net income (loss) and adjusted diluted income (loss) per share are computed by eliminating the after tax impact of the following items from net income (loss): (a) net income attributable to noncontrolling interests; (b) amortization of pension and postretirement actuarial losses; (c) restructuring, impairment and plant closing and transition costs; and further adjusted for certain other items set forth in the reconciliation of net income (loss) to adjusted net income (loss) in Table 4 above.  The income tax impacts, if any, of each adjusting item represent a ratable allocation of the total difference between the unadjusted tax expense and the total adjusted tax expense, computed without consideration of any adjusting items using a with and without approach.

We may disclose forward-looking adjusted EBITDA because we cannot adequately forecast certain items and events that may or may not impact us in the near future, such as business acquisition and integration expenses and purchase accounting inventory adjustments, net, certain legal and other settlements and related expenses, gains on sale of businesses/assets and certain tax only items, including tax law changes not yet enacted. Each of such adjustment has not yet occurred, is out of our control and/or cannot be reasonably predicted. In our view, our forward-looking adjusted EBITDA represents the forecast net income on our underlying business operations but does not reflect any adjustments related to the items noted above that may occur and can cause our adjusted EBITDA to differ.

(2)

We believe free cash flow is an important indicator of our liquidity as it measures the amount of cash we generate. Management internally uses free cash flow measure to: (a) evaluate our liquidity, (b) evaluate strategic investments, (c) plan stock buyback and dividend levels and (d) evaluate our ability to incur and service debt. Free cash flow is defined as net cash provided by (used in) operating activities less capital expenditures. Free cash flow is not a defined term under U.S. GAAP, and it should not be inferred that the entire free cash flow amount is available for discretionary expenditures.

(3)

We believe the adjusted effective tax rate provides improved comparability between periods through the exclusion of certain items that management believes are not indicative of the businesses' operational profitability and that may obscure underlying business results and trends. In our view, effective tax rate is the performance measure calculated and presented in accordance with U.S. GAAP that is most directly comparable to adjusted effective tax rate. The reconciliation of historical adjusted effective tax rate and effective tax rate is set forth in Table 4 above. Please see the reconciliation of our net income to adjusted net income in Table 4 for details regarding the tax impacts of our non-GAAP adjustments.

(4)

Net debt is a measure we use to monitor how much debt we have after taking into account our total cash. We use it as an indicator of our overall financial position, and calculate it by taking our total debt, including the current portion, and subtracting total cash.

(5)

Certain prior period amounts have been reclassified in the condensed consolidated financial statements to conform to current period presentation.

About Huntsman:
Huntsman Corporation is a publicly traded global manufacturer and marketer of diversified chemical products with 2025 revenues of approximately $6 billion from our continuing operations. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 55 manufacturing, R&D and operations facilities in approximately 25 countries and employ approximately 6,000 associates within our continuing operations. For more information about Huntsman, please visit the company's website at www.huntsman.com.

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X: http://www.x.com/Huntsman_Corp
Facebook: www.facebook.com/huntsmancorp
LinkedIn: www.linkedin.com/company/huntsman

Forward-Looking Statements:
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, divestitures or strategic transactions, business trends and any other information that is not historical information. When used in this press release, the words "estimates," "expects," "anticipates," "likely," "projects," "outlook," "plans," "intends," "believes," "forecasts," or future or conditional verbs, such as "will," "should," "could" or "may," and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements, including, without limitation, management's examination of historical operating trends and data, are based upon our current expectations and various assumptions and beliefs. In particular, such forward-looking statements are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the Company's operations, markets, products, prices and other factors as discussed in the Company's filings with the Securities and Exchange Commission (the "SEC"). Significant risks and uncertainties may relate to, but are not limited to, high energy costs in Europe, inflation and high capital costs, geopolitical instability, volatile global economic conditions, cyclical and volatile product markets, disruptions in production at manufacturing facilities, reorganization or restructuring of the Company's operations, including any delay of, or other negative developments affecting the ability to implement cost reductions and manufacturing optimization improvements in the Company's businesses and to realize anticipated cost savings, and other financial, operational, economic, competitive, environmental, political, legal, regulatory and technological factors. Any forward-looking statement should be considered in light of the risks set forth under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2025, which may be supplemented by other risks and uncertainties disclosed in any subsequent reports filed or furnished by the Company from time to time. All forward-looking statements apply only as of the date made. Except as required by law, the Company undertakes no obligation to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.

SOURCE Huntsman Corporation

Huntsman (HUN - Free Report) came out with a quarterly loss of $0.2 per share versus the Zacks Consensus Estimate of a loss of $0.23. This compares to a loss of $0.11 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +13.04%. A quarter ago, it was expected that this chemical company would post a loss of $0.29 per share when it actually produced a loss of $0.37, delivering a surprise of -27.59%.

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

Huntsman, which belongs to the Zacks Chemical - Diversified industry, posted revenues of $1.42 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 3.33%. This compares to year-ago revenues of $1.41 billion. The company has topped consensus revenue estimates three times over the last four quarters.

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

Huntsman shares have added about 32.5% since the beginning of the year versus the S&P 500's gain of 4.2%.

What's Next for Huntsman?While Huntsman has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Huntsman was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.06 on $1.49 billion in revenues for the coming quarter and -$0.46 on $5.83 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Chemical - Diversified is currently in the bottom 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, LyondellBasell (LYB - Free Report) , is yet to report results for the quarter ended March 2026. The results are expected to be released on May 1.

This oil refiner and chemical company is expected to post quarterly earnings of $0.31 per share in its upcoming report, which represents a year-over-year change of -6.1%. The consensus EPS estimate for the quarter has been revised 48.6% higher over the last 30 days to the current level.

LyondellBasell's revenues are expected to be $7.52 billion, down 2.1% from the year-ago quarter.

Huntsman remains a buy, with sequential improvement expected as global supply tightens and end markets gradually recover. Q1 showed resilient volumes, margin expansion in Advanced Materials, and early benefits from cost-cutting and Middle East supply disruptions. Leverage is elevated at 6.1x due to cyclically depressed EBITDA, but liquidity is solid with a new $800M revolver and $369M cash.

Key Takeaways Huntsman posted a wider Q1 loss Y/Y, while revenues rose 1% and beat estimates. HUN saw Polyurethanes volume growth and Advanced Materials gains offset Performance Products weakness.Huntsman expects sequential Q2 improvement, led by pricing actions and Polyurethanes recovery. Huntsman Corporation’s (HUN - Free Report)  first-quarter 2026 loss (as reported) was 31 cents per share, wider than a loss of 3 cents in the year-ago quarter. 

Barring one-time items, adjusted loss per share was 20 cents compared with a loss of 11 cents in the year-ago quarter. It was narrower than the Zacks Consensus Estimate of a loss of 23 cents. 

Revenues were $1,420 million, up around 1% year over year. The top line beat the Zacks Consensus Estimate of $1,374.2 million. HUN saw volume growth in Polyurethanes and strength in Advanced Materials, partly offset by lower selling prices and weakness in Performance Products.  

Huntsman Corporation Price, Consensus and EPS SurpriseHUN’s Q1 Segment HighlightsPolyurethanes: Revenues from the segment rose 1% year over year to $923 million. The figure beat our estimate of $903 million. The upside was driven by higher sales volumes, mainly in the Americas and Europe, partly offset by lower average selling prices. MDI selling prices fell due to less favorable supply-demand dynamics, partly masked by favorable currency movements.  

Performance Products: Revenues moved down 11% year over year to $228 million, missing our estimate of $242 million. The decrease was mainly caused by lower sales volumes and lower average selling prices. Volumes were hurt by the closure of the Moers, Germany maleic anhydride facility and lower demand, while pricing was adversely impacted by competitive pressures.  

Advanced Materials: Revenues from the unit increased 12% year over year to $279 million and beat our estimate of $252 million. The increase was primarily due to higher average selling prices and higher sales volumes. Pricing benefited from a favorable sales mix and currency movements, while volumes improved across aerospace, power and automotive markets.  

HUN’s FinancialsFree cash flow from continuing operations was a use of $91 million compared with a use of $107 million in the prior-year quarter. The company had around $0.9 billion in combined cash and unused borrowing capacity as of March 31, 2026. Huntsman spent $38 million on capital expenditures compared with $36 million in the prior-year quarter. Net cash used in operating activities from continuing operations was $53 million in the reported quarter. 

HUN’s OutlookFor the second quarter of 2026, Huntsman expects sequential improvement, especially in Polyurethanes. The company expects margin improvement across regions from its pricing initiatives. It anticipates second-quarter adjusted EBITDA of $60-$75 million for Polyurethanes, $30-$40 million for Performance Products and $50-$55 million for Advanced Materials.  

Huntsman expects Performance Products to benefit from price increases implemented to offset higher feedstock costs, additional savings from cost-reduction programs and contributions from recently completed growth capital investments. In Advanced Materials, the company expects continued strength from aerospace demand, sustained investment in power generation and grid infrastructure, and disciplined pricing to offset higher costs. The company also expects to manage capital expenditures at a level similar to 2025, with critical maintenance, cybersecurity risk mitigation and mandatory safety and environmental spending of around $150 million. Depreciation and amortization are expected to be roughly $290 million in 2026.  

HUN’s Stock Price PerformanceShares of Huntsman have gained 22.3% in the past year compared with the Zacks Chemicals Diversified industry’s 18.9% rise.

Image Source: Zacks Investment Research

HUN’s Zacks Rank & Key PicksHUN currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks worth a look in the basic materials space are Sociedad Quimica y Minera de Chile S.A. (SQM - Free Report) , Idaho Strategic Resources, Inc. (IDR - Free Report) and Hawkins, Inc. (HWKN - Free Report) .

Sociedad is slated to report first-quarter 2026 results on May 26. The Zacks Consensus Estimate for loss is pegged at $1.58 per share, indicating 229.2% year-over-year growth. SQM has a Zacks Rank #2 (Buy) at present. 

Idaho is expected to report first-quarter 2026 results on May 14. The Zacks Consensus Estimate for earnings is pegged at 43 cents per share, indicating 258.3% year-over-year growth. IDR sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Hawkins is scheduled to report fiscal fourth-quarter results on May 13. The Zacks Consensus Estimate for HWKN’s fourth-quarter earnings is pegged at 77 cents per share. HWKN currently has a Zacks Rank #2.

, /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) announced today that it has sold Huntsman Gomet, a business located in Azeglio, Italy, to Trelleborg Group for €42.5 million (approximately $50 million), subject to customary post-closing adjustments. Gomet is a manufacturer of molded rubber and thermoplastic automotive aftermarket components, which was a business within Huntsman's Polyurethanes division, and was acquired by Huntsman in 2014 as part of the Rockwood acquisition. In 2025, Gomet generated revenues of approximately €24 million. The proceeds from this transaction will be used to reduce outstanding borrowings.

Houlihan Lokey served as financial advisor and Freshfields LLP served as legal counsel to Huntsman Corporation.

About Huntsman:
Huntsman Corporation is a publicly traded global manufacturer and marketer of diversified chemical products with 2025 revenues of approximately $6 billion from our continuing operations. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 55 manufacturing, R&D and operations facilities in approximately 25 countries and employ approximately 6,000 associates within our continuing operations. For more information about Huntsman, please visit the company's website at www.huntsman.com.

Social Media:
X: www.x.com/Huntsman_Corp
Facebook: www.facebook.com/huntsmancorp
LinkedIn: www.linkedin.com/company/huntsman

Forward-Looking Statements:
Certain information in this release constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on management's current beliefs and expectations. The forward-looking statements in this release are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the company's operations, markets, products, services, prices and other factors as discussed under the caption "Risk Factors" in the Huntsman companies' filings with the U.S. Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, volatile global economic conditions, cyclical and volatile product markets, disruptions in production at manufacturing facilities, reorganization or restructuring of Huntsman's operations, including any delay of, or other negative developments affecting the ability to implement cost reductions, timing of proposed transactions, and manufacturing optimization improvements in Huntsman businesses and realize anticipated cost savings, and other financial, economic, competitive, environmental, political, legal, regulatory and technological factors. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws.

SOURCE Huntsman Corporation

Key Takeaways Huntsman is selling its Italy-based Gomet automotive aftermarket components business for roughly $50M.HUN plans to use sale proceeds to reduce outstanding borrowings and support its balance-sheet strategy.Gomet joined via Rockwood's 2014 acquisition and generated about 24M Euro in revenue during 2025. Huntsman Corporation (HUN - Free Report) has announced the sale of Huntsman Gomet, its molded rubber and thermoplastic automotive aftermarket components manufacturing business based in Italy, to Trelleborg Group for 42.5 million Euros (roughly $50 million), subject to customary post-closing adjustments.

Located in Azeglio, Italy, Gomet’s business was part of Huntsman’s Polyurethanes division and became part of the company through its acquisition of Rockwood in 2014. Gomet generated approximately 24 million Euros in revenues during 2025. The transaction aligns with Huntsman’s ongoing strategy to optimize its portfolio and strengthen its balance sheet.

The company plans that proceeds from the sale will be used to reduce outstanding borrowings, supporting its broader strategy. The divestiture enables Huntsman to sharpen its focus on its core operations. Houlihan Lokey acted as financial advisor to Huntsman on the transaction, while Freshfields LLP provided legal counsel.

For the second quarter of 2026, Huntsman expects sequential improvement, especially in Polyurethanes. The company expects margin improvement across regions from its pricing initiatives. It anticipates second-quarter adjusted EBITDA of $60-$75 million for Polyurethanes, $30-$40 million for Performance Products and $50-$55 million for Advanced Materials.  

HUN has gained 22.2% over the past year compared with the industry’s 5% growth.

Image Source: Zacks Investment Research

HUN’s Zacks Rank & Key PicksHUN currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the Basic Materials space are CF Industries Holdings, Inc. (CF - Free Report) , Albemarle Corporation (ALB - Free Report) and Avino Silver & Gold Mines Ltd. (ASM - Free Report) .

While CF and ALB sport a Zacks Rank #1 (Strong Buy) each at present, ASM carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for CF’s 2026 earnings is pegged at $17.16 per share, indicating a rise of 83.14% year over year. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 11.42%. CF’s shares have soared 22.2% over the past year.

The Zacks Consensus Estimate for ALB’s 2026 earnings is pinned at $12.39 per share, indicating a 1,668.35% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with an average surprise of 74.5%. ALB’s shares have jumped 149.5% over the past year.

The Zacks Consensus Estimate for ASM’s current fiscal-year earnings is pinned at 39 cents per share, indicating a 34.48% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 125%.

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Stock to Watch: Merit Medical (MMSI - Free Report) South Jordan, UT-headquartered Merit Medical Systems, Inc. provides various peripheral and cardiac intervention products to cure cardiac conditions specific to interventional cardiology and electrophysiology. The company conducts its business via two operating segments: Cardiovascular (which includes Peripheral Intervention or PI, Cardiac Intervention or CI, Custom Procedural Solutions or CPS and Original Equipment Manufacturer or OEM and Endoscopy.

MMSI is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

Additionally, the company could be a top pick for growth investors. MMSI has a Growth Style Score of B, forecasting year-over-year earnings growth of 6.3% for the current fiscal year.

Four analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.02 to $4.07 per share. MMSI boasts an average earnings surprise of +13.2%.

With a solid Zacks Rank and top-tier Growth and VGM Style Scores, MMSI should be on investors' short list.

Key Takeaways MMSI growth is driven by strong cardiovascular and peripheral intervention device demand.Therapeutic products outpace foundational offerings, with faster CAGR and rising adoption.Tariffs, China weakness and OEM declines are pressuring margins and near-term growth. Merit Medical Systems, Inc. (MMSI - Free Report) is well-poised for growth in the coming quarters, courtesy of its strong product portfolio. The optimism, led by a solid product performance and its continued spending on research and development, is expected to contribute further. However, tariffs and trade policy headwinds, and China macro pressure persist.

This Zacks Rank #3 (Hold) company’s shares have declined 20% in the year-to-date period compared with the industry’s 1.8% drop. However, the S&P 500 has risen 0.5% during the same time frame.

The renowned medical device provider has a market capitalization of $4.21 billion. The company projects 9.5% growth for the next five years and expects to maintain its strong performance going forward. It delivered an average earnings surprise of 13.2% for the past four quarters.

Image Source: Zacks Investment Research

Let’s delve deeper.

MMSI’s Growth DriversStrength in Cardiovascular & Peripheral Intervention Devices: The cardiovascular segment remains the main growth engine for Merit Medical, showing strong results driven by cardiac and peripheral intervention products. Cardiac intervention sales remain supported by demand for electrophysiology, cardiac rhythm management, angiography and vascular access offerings.

Peripheral intervention product growth is driven by strong sales in radar localization and delivery systems, reflecting wider adoption across embolotherapy, drainage, angiography and access categories. This momentum is expected to persist into 2026.

Expansion of Therapeutic Products & Innovation: Merit Medical’s therapeutic portfolio is outpacing its foundational products, emerging as a growth driver. Foundational products delivered a 6% CAGR over the past three years. In comparison, therapeutic products have grown with a 19% CAGR over the same period. This segment has become a major growth driver, reflecting rising physician adoption of devices that focus on treatment rather than procedural support.

Product Innovation & Acquisitions: Growth in 2025 was supported by a mix of internal product development and acquisitions. Product launches such as the Resilience Through-the-Scope Esophageal Stent, Prelude SNAP system, Ventrax Delivery System, Prelude radial sheath and SCOUT radar localization system gained traction. The recent acquisition of View Point Medical is projected to generate between $2 million and $4 million in revenues in 2026.

Key Challenges for MMSI StockTariffs & Trade Policy Pressuring Margins: Tariffs weighed on gross margin performance in fourth-quarter 2025, with a 112-basis-point year-over-year impact. Management expects this pressure to continue into 2026. Guidance for the year includes a projected tariff impact of $15 million, or 19 cents per share, compared with $9 million, or 12 cents per share, recorded during the last eight months of 2025.

In the near term, tariffs are expected to create an 80-basis-point, or $3 million, gross margin impact in first-quarter 2026, which adds uncertainty around future cost pressure and margin performance.

OEM Weakness & China Macro Pressure: The company saw weakness in its OEM business in the United States due to softer performance driven by customer inventory destocking, which reduced order volumes from OEM partners. Outside the United States, demand faced pressure in China due to the impact of the country’s volume-based procurement program, which has pressured pricing across medical device categories.

Despite near-term volatility, the company expects the OEM segment to return to a mid- to high-single-digit growth range over time, though near-term fluctuations may persist.

Estimate TrendMMSI is witnessing a positive estimate revision trend for 2026. In the past 60 days, the Zacks Consensus Estimate for earnings per share (EPS) has moved 0.5% north to $4.07.

The Zacks Consensus Estimate for the company’s first-quarter 2026 revenues is pegged at $377.5 million, suggesting a 6.23% rise from the year-ago reported number. The consensus mark for EPS is pegged at 84 cents, implying a 2.3% decline from the prior-year reported figure.

Stocks to ConsiderSome better-ranked stocks from the broader medical space are Pacific Biosciences of California (PACB - Free Report) , Cardinal Health (CAH - Free Report) and GE HealthCare Technologies (GEHC - Free Report) .

Pacific Biosciences of California, currently sporting a Zacks Rank #1 (Strong Buy), has an estimated earnings recession rate of 1.9%. PACB’s earnings surpassed estimates in the trailing four quarters, the average surprise being 27.7%. You can see the complete list of today’s Zacks #1 Rank stocks here.

Pacific Biosciences’ shares have lost 16% compared with the industry’s 12.9% decline in the year-to-date period.

Cardinal Health, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 15%. CAH’s earnings surpassed estimates in the trailing four quarters, the average surprise being 9.3%.

Cardinal Health’s shares have gained 4.6% against the industry’s 1.9% decline in the year-to-date period.

GE HealthCare Technologies, currently carrying a Zacks Rank #2, has an estimated long-term earnings growth rate of 9.1%. GEHC’s earnings surpassed estimates in the trailing four quarters, the average surprise being 7.5%.

GE HealthCare Technologies’ shares have lost 9% compared with the industry’s 13.4% decline in the year-to-date period.

Merit Medical (MMSI - Free Report) came out with quarterly earnings of $0.94 per share, beating the Zacks Consensus Estimate of $0.84 per share. This compares to earnings of $0.86 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +12.13%. A quarter ago, it was expected that this maker of disposable medical devices would post earnings of $0.96 per share when it actually produced earnings of $1.04, delivering a surprise of +8.33%.

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

Merit Medical, which belongs to the Zacks Medical - Dental Supplies industry, posted revenues of $381.88 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 1.28%. This compares to year-ago revenues of $355.35 million. The company has topped consensus revenue estimates three times over the last four quarters.

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

Merit Medical shares have lost about 26.4% since the beginning of the year versus the S&P 500's gain of 4.2%.

What's Next for Merit Medical?While Merit Medical has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Merit Medical was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.06 on $411.1 million in revenues for the coming quarter and $4.04 on $1.61 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Dental Supplies is currently in the top 22% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Dentsply International (XRAY - Free Report) , another stock in the same industry, has yet to report results for the quarter ended March 2026. The results are expected to be released on May 5.

This dental products manufacturer is expected to post quarterly earnings of $0.28 per share in its upcoming report, which represents a year-over-year change of -34.9%. The consensus EPS estimate for the quarter has been revised 3.9% lower over the last 30 days to the current level.

Dentsply International's revenues are expected to be $840.06 million, down 4.4% from the year-ago quarter.

Key Takeaways MMSI posted Q1 EPS of 94 cents, beating estimates by 11.9% and rising 9% year over year.Revenues reached $381.9M, up 7%, driven by growth in both Foundational and Therapeutic segments.MMSI raised 2026 revenue outlook to $1.612-$1.634B while maintaining EPS guidance of $4.01-$4.15. Merit Medical Systems, Inc. (MMSI - Free Report) reported first-quarter 2026 adjusted earnings per share (EPS) of 94 cents, up 9% from the year-ago quarter’s level. The bottom line surpassed the Zacks Consensus Estimate by 11.9%.

GAAP EPS for the quarter was 63 cents, up 39% year over year.

MMSI’s Revenue DetailsRevenues amounted to $381.9 million in the reported quarter, up 7% year over year on a reported basis. The metric topped the Zacks Consensus Estimate by 1.3%.

Total revenues at constant exchange rate (CER) increased 5.2% year over year, whereas CER organic revenues improved 3.7%.

Merit Medical’s Geographic ResultsThe U.S. sales amounted to $226.5 million, which increased 6.1% year over year on a reported basis and 6.8% at CER. Our first-quarter projection was $228 million for the metric.

International sales amounted to $155.4 million, up 9.6% year over year on a reported basis and 2.9% at CER. This figure compares to our projection of $148.7 million.

MMSI’s Segmental DetailsBeginning first-quarter 2026, Merit Medical started operating through two product categories — Foundational (67% of sales) and Therapeutic (33% of sales). Foundational products are used primarily for access and enabling functions in vascular and other procedures. Therapeutic products include devices and systems. The company previously reported under two categories — Cardiovascular and Endoscopy.

The Foundational category reported first-quarter revenues of $255.5 million, up 6% on a reported basis and 4% at CER year over year.

Therapeutic unit’s revenues totaled $126.4 million, up 10% year over year on a reported basis and 5% at CER.

Merit Medical’s Margin AnalysisIn the quarter under review, Merit Medical’sgross profit increased 7.4% year over year to $184.8 million. The adjusted gross margin contracted 20 basis points (bps) to 53.2%. We had projected a 53.3% gross margin for the first quarter.

Selling, general & administrative expenses increased 10% year over year to $118.2 million. Research and development expenses rose 0.6% year over year to $22.6 million.

Operating profit totaled $44.2 million, reflecting a 7.6% increase from the prior-year quarter’s level. The adjusted operating margin in the first quarter expanded 40 bps to 19.7%.

MMSI’s Financial PositionMerit Medical exited first-quarter 2026 with cash and cash equivalents of $488.1million compared with $446.4 million at the end of the fourth quarter of 2025. Total long-term debt at the end of the first quarter was $735.2 million compared with $734 million in the previous quarter.

Cumulative net cash provided by operating activities at the end of first-quarter 2026 was $40.7 million compared with $40.6 million a year ago.

Merit Medical’s GuidanceMMSI has updated its outlook for2026.

Net revenues for 2026 are projected to be between $1.612billion and $1.634 billion (reflecting an increase of 6-8% year over year on a reported basis), up from the previous guidance of $1.610-$1.630 billion. The Zacks Consensus Estimate is pegged at $1.61 billion.

The company has maintained its guidance for 2026 adjusted EPS of $4.01-$4.15 (implying an increase of 5-8% year over year). The Zacks Consensus Estimate is pegged at $4.04.

Our Take on MMSIMerit Medical exited the first quarter of 2026 with better-than-expected results. The year-over-year uptick in the top and bottom lines was impressive. The company’s organic growth remained modest at 2.7% (3.7% ex-divestiture), but was supplemented by acquisitions. Profitability stood out as operating margin expanded to a record 19.7% and EPS grew 9%, both ahead of guidance. Free cash flow increased 26%, reflecting disciplined cost control and improving operational execution.

Looking ahead, growth should be supported by expansion in higher-growth therapeutic segments, new product launches such as the Resilience stent, and the View Point Medical acquisition, which strengthens the oncology platform and expands addressable markets. However, challenges persist, including OEM revenue volatility, tariff-related margin pressure, and macro headwinds in APAC. The DualCap divestiture and near-term acquisition may weigh on growth and earnings cadence. Despite these factors, management maintains confidence in steady growth and margin improvement through 2026.

Merit Medical’s shares have lost 22.6% so far this year compared with the industry’s decline of 6%. The S&P 500 Index has risen 4.5% in the same period.

Image Source: Zacks Investment Research

Merit Medical’s Zacks Rank and Key PicksMerit Medical currently has a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader medical space are Globus Medical (GMED - Free Report) , Phibro Animal Health (PAHC - Free Report) and Cardinal Health (CAH - Free Report) . While Globus Medical sports a Zacks Rank #1 (Strong Buy) at present, Phibro Animal Health and Cardinal Health carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Globus Medical’s shares have gained 3.3% in the year-to-date period. Estimates for the company’s first-quarter 2026 EPS have increased 1 cent to 90 cents in the past 30 days. GMED’s earnings beat estimates in three of the trailing four quarters and missed once, delivering an average surprise of 18.79%. In the last reported quarter, it posted an earnings surprise of 20.75%.

Estimates for Phibro Animal Health’s third-quarter fiscal 2026 EPS have remained constant at 72 cents in the past 30 days. Shares of the company have risen 42.4% in the year-to-date period against the industry’s 20.5% decline. PAHC’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 20.15%. In the last reported quarter, it delivered an earnings surprise of 26.09%.

Cardinal Health’s shares have declined 6.2% in the year-to-date period. Estimates for the company’s third-quarter 2026 EPS have decreased 1 cent to $2.80 in the past 30 days. CAH’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 9.30%. In the last reported quarter, it posted an earnings surprise of 10.04%.

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Stock to Watch: Merit Medical (MMSI - Free Report) South Jordan, UT-headquartered Merit Medical Systems, Inc. provides various peripheral and cardiac intervention products to cure cardiac conditions specific to interventional cardiology and electrophysiology. The company conducts its business via two operating segments: Cardiovascular (which includes Peripheral Intervention or PI, Cardiac Intervention or CI, Custom Procedural Solutions or CPS and Original Equipment Manufacturer or OEM and Endoscopy.

MMSI is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 15.33; value investors should take notice.

For fiscal 2026, one analyst revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.00 to $4.05 per share. MMSI boasts an average earnings surprise of +12.5%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, MMSI should be on investors' short list.

Merit Medical Systems, Inc. (MMSI) Presents at Bank of America Global Healthcare Conference 2026 Transcript

May 19, 2026 09:15 ET  | Source: Merit Medical Systems, Inc.

SOUTH JORDAN, Utah, May 19, 2026 (GLOBE NEWSWIRE) -- Merit Medical Systems, Inc. (NASDAQ: MMSI), a leading global manufacturer and marketer of healthcare technology, today announced that shareholders elected Scott R. Ward to the company’s Board of Directors at Merit’s annual meeting of shareholders.

Mr. Ward was elected to serve a three-year term.

“On behalf of the Board, we are pleased with Scott Ward’s election to Merit’s Board of Directors,” said F. Ann Millner, Merit’s Chair of the Board. “Scott’s extensive industry experience, strategic insight, and commitment to innovation will be tremendous assets as we continue advancing the company’s strategic priorities.”

“We are proud to welcome Scott Ward to Merit’s Board,” said Martha G. Aronson, Merit’s President and Chief Executive Officer. “Scott brings deep medical device experience and a proven leadership track record. As we continue building on our foundation and advancing our strategy, his perspective will be invaluable to our long-term growth.”

“I am honored to join the Merit Board of Directors,” Ward said. “I have great respect for Merit’s commitment to innovation and its focus on serving patients and healthcare providers around the world. I look forward to contributing my experience as the company continues to grow and expand its impact.”

Mr. Ward brings more than 40 years of experience in the healthcare and medical device industry, including nearly three decades at Medtronic, where he held senior leadership roles such as senior vice president and president of the cardiovascular, neurological, and diabetes businesses. He most recently served as CEO, President and Chairman of Cardiovascular Systems, Inc., leading the company through a period of expansion and its acquisition by Abbott.

Mr. Ward is also the founder of Raymond Holdings, a firm focused on venture capital, strategy, and advisory services for medical technology and life sciences companies, and has served on numerous public and private company boards. Merit’s Board of Directors has appointed Mr. Ward to serve on its Governance and Sustainability and Finance and Operating Committees.

ABOUT MERIT MEDICAL

Founded in 1987, Merit is engaged in the development, manufacture, and distribution of proprietary medical devices used in interventional, diagnostic, and therapeutic procedures, particularly in cardiology, radiology, oncology, critical care, and endoscopy. Merit serves customers worldwide with a domestic and international sales force and clinical support team totaling more than 800 individuals. Merit employs approximately 7,600 people worldwide.

TRADEMARKS

Unless noted otherwise, trademarks and registered trademarks used in this release are the property of Merit Medical Systems, Inc., its subsidiaries, or its licensors.

CONTACTS
Media Inquiries
Sarah Comstock

Merit Medical
+1-801-432-2864 | [email protected]

Investor Inquiries
Mike Piccinino, CFA, IRC

ICR Healthcare
+1-443-213-0509 | [email protected]

On May 27, 2026, Merit Medical Systems Inc MMSI shares fell 3.1% to a current price of $62.52. This decline is part of a broader trend, with the stock down 29.1% year-to-date and 35.2% over the past year, while trading within a 52-week range of $59.74 to $97.18.

GF Value™ verdict: The current price is $62.52, which is 35.0% below the GF Value™ estimate of $96.19.GF Score™: At 79/100, the stock is rated as Above Average, indicating potential for long-term returns.Most notable signal: Insider activity shows that insiders bought $0.6M and sold $0.3M in the last 3 months, indicating some level of confidence in the company’s prospects. Is MMSI Overvalued or Undervalued? The GF Value™ of Merit Medical Systems Inc MMSI is estimated at $96.19, suggesting that the stock is currently undervalued at a price of $62.52. This presents a margin of safety of 35.0%, indicating a significant upside potential. The GF Valuation label classifies the stock as significantly undervalued, which implies that the market may not be fully recognizing the company’s growth prospects and financial health. However, while the undervaluation presents an opportunity, investors should remain cautious, as fluctuations in market sentiment or company performance could impact this valuation.

GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. Therefore, the current price level could be viewed as an attractive entry point for long-term investors, provided that the company's fundamentals remain strong and the broader market conditions are favorable.

How Does MMSI's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 27.1x 49.1x Forward P/E 15.4x N/A The current P/E (TTM) of 27.1x is significantly below its 5-year median P/E of 49.1x, indicating that MMSI is trading at a discount compared to its historical valuation. Additionally, the forward P/E of 15.4x suggests further potential for growth. This P/E analysis aligns with the GF Value™ verdict of undervaluation, reinforcing the notion that the stock may be undervalued relative to its historical performance.

What Does MMSI's GF Score™ Tell Us? Metric Rating GF Score™ 79 Financial Strength 7/10 Profitability 8/10 Growth 9/10 Valuation 4/10 Momentum 2/10 The GF Score™ of 79 indicates that Merit Medical Systems Inc MMSI has solid fundamentals, particularly in Growth (9/10) and Profitability (8/10), suggesting the company has the potential to generate strong returns. However, the Valuation score of 4/10 and a Momentum rank of 2/10 highlight areas of concern, indicating that while the underlying business may be strong, the stock may lack the momentum needed to attract new investors in the short term.

What Are Insiders Doing with MMSI Stock? In the past three months, there has been notable insider activity at Merit Medical Systems Inc MMSI , with insiders purchasing $0.6 million worth of shares while also selling $0.3 million. This pattern of buying amidst some selling may suggest that insiders are optimistic about the company's future performance, as they are willing to increase their stake even while realizing some profits. Such insider buying can be viewed as a positive signal about the company’s prospects.

What This Means for Investors Based on the GF Value™ assessment, Merit Medical Systems Inc MMSI is currently undervalued. At a current price of $62.52 compared to an estimated GF Value™ of $96.19, there is a substantial margin for potential upside. However, investors should also consider the factors impacting the stock's momentum and the broader market environment.

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

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

MMSI has a GF Score™ of 79/100, indicating that it has strong potential for long-term returns based on its financial health and growth prospects.

Is MMSI overvalued or undervalued?

According to GF Value™, MMSI is undervalued, with a current price of $62.52 being 35.0% below the estimated fair value of $96.19.

What is MMSI's P/E ratio?

The current P/E (TTM) for MMSI is 27.1x, which is significantly lower than its 5-year median P/E of 49.1x, suggesting it is trading at a discount compared to its historical average.

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

Merit Medical Systems, Inc. (MMSI) Presents at Goldman Sachs 47th Annual Global Healthcare Conference 2026 Transcript

Investors in Merit Medical Systems, Inc. (MMSI - Free Report) need to pay close attention to the stock based on moves in the options market lately. That is because the July 17, 2026 $90 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 Merit Medical Systems shares, but what is the fundamental picture for the company? Currently, Merit Medical Systems is a Zacks Rank #3 (Hold) in the Medical - Dental Supplies industry that ranks in the Top 26% of our Zacks Industry Rank. Over the last 60 days, no analyst has increased the earnings estimates for the current quarter, while one has dropped the estimates. The net effect has taken our Zacks Consensus Estimate for the current quarter from 97 cents per share to 96 cents in that period.

Given the way analysts feel about Merit Medical Systems 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.

Expeditors International (EXPD - Free Report) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.

The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis logistics services provider is expected to post quarterly earnings of $1.33 per share in its upcoming report, which represents a year-over-year change of -9.5%.

Revenues are expected to be $2.58 billion, down 3.4% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 1.67% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

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

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Expeditors International?For Expeditors International, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +1.25%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that Expeditors International will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Expeditors International would post earnings of $1.46 per share when it actually produced earnings of $1.49, delivering a surprise of +2.05%.

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

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Expeditors International appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Expected Results of an Industry PlayerAmong the stocks in the Zacks Transportation - Services industry, Schneider National (SNDR - Free Report) , is soon expected to post earnings of $0.11 per share for the quarter ended March 2026. This estimate indicates a year-over-year change of -31.3%. This quarter's revenue is expected to be $1.41 billion, up 0.6% from the year-ago quarter.

Over the last 30 days, the consensus EPS estimate for Schneider National has been revised 0.8% down to the current level. Nevertheless, the company now has an Earnings ESP of -5.59%, reflecting a lower Most Accurate Estimate.

When combined with a Zacks Rank of #3 (Hold), this Earnings ESP makes it difficult to conclusively predict that Schneider National will beat the consensus EPS estimate. Over the last four quarters, the company surpassed EPS estimates just once.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

GREEN BAY, Wis.--(BUSINESS WIRE)--Schneider National, Inc. (NYSE: SNDR, “Schneider” or the “Company”), a leading transportation and logistics services company, today announced results for the three months ended March 31, 2026.

“In the first quarter, we saw the impact of structural supply rationalization which is driving the market toward more normal conditions,” said Mark Rourke, President and Chief Executive Officer of Schneider. “Strong execution on our cost and productivity actions, as well as the benefits of operating a diverse, nimble portfolio, allowed us to capitalize on opportunities and effectively navigate a quarter marked by disruptive weather and fuel volatility.”

Rourke continued, “As freight fundamentals return to more rational cycle dynamics, we expect the benefits of our efforts to structurally improve the business through this downcycle will be increasingly evident. These efforts are now being complemented by measures we are taking to capitalize on early cycle tailwinds, such as leveraging our elevated spot exposure in Truckload Network and Logistics, maintaining a disciplined approach to contract acceptance and rate recovery, and growing over-the-road conversion opportunities for Intermodal.”

Results of Operations (unaudited)

The following table summarizes the Company’s results of operations for the periods indicated.

Three Months Ended

March 31,

(in millions, except ratios & per share amounts)

2026

2025

Change

Operating revenues

$

1,398.5

$

1,401.8

—

%

Revenues (excluding fuel surcharge)

1,243.1

1,258.3

(1

)%

Income from operations

33.4

42.1

(21

)%

Adjusted income from operations

35.1

44.2

(21

)%

Operating ratio

97.6

%

97.0

%

(60) bps

Adjusted total operating expenses, net of fuel surcharge revenue

$

1,208.0

$

1,214.1

(1

)%

Adjusted operating ratio

97.2

%

96.5

%

(70) bps

Net income

$

20.4

$

26.1

(22

)%

Adjusted net income

21.7

27.7

(22

)%

Adjusted EBITDA

143.6

154.8

(7

)%

Diluted earnings per share

0.12

0.15

(20

)%

Adjusted diluted earnings per share

0.12

0.16

(25

)%

Weighted average diluted shares outstanding

175.9

176.0

(0.1

)

Enterprise Results

Enterprise income from operations for the first quarter of 2026 was $33.4 million, a decrease of $8.7 million, or 21%, compared to the same period in 2025. Diluted earnings per share were $0.12 and $0.15 in the first quarter of 2026 and 2025, respectively. Adjusted diluted earnings per share were $0.12 and $0.16 in the first quarter of 2026 and 2025, respectively.

Cash Flow and Capitalization

As of March 31, 2026, the Company had $399.2 million outstanding on total debt and finance lease obligations and cash and cash equivalents of $227.8 million.

Net capital expenditures decreased compared to the same period a year ago, primarily due to reduced purchases of transportation equipment. As a result, free cash flow increased $53.5 million compared to the same period in 2025.

In January 2026, the Company announced the approval of a new $150.0 million share repurchase program. As of March 31, 2026, the Company had repurchased a total of 0.2 million Class B shares amounting to $5.2 million under the new program.

In January 2026, the Company’s Board of Directors declared a $0.10 dividend payable to shareholders of record as of March 13, 2026, which was paid on April 8, 2026. On April 29, 2026, the Company’s Board of Directors declared a $0.10 dividend payable to shareholders of record as of June 12, 2026, expected to be paid on July 10, 2026. As of March 31, 2026, the Company had returned $17.1 million in the form of dividends to shareholders year to date.

Results of Operations – Reportable Segments

Truckload

Truckload revenues (excluding fuel surcharge) for the first quarter of 2026 were $618.0 million, an increase of $4.3 million, or 1%, compared to the same period in 2025. The increase was driven by improved Network productivity and, to a lesser extent, an increase in price for both Network and Dedicated, partially offset by lower Dedicated volume. Truckload revenue per truck per week was $4,051, up $98, or 2%, compared to the same quarter of 2025, reflecting improvements in both Network and Dedicated.

Truckload income from operations was $20.2 million in the first quarter of 2026, a decrease of $4.9 million, or 20%, compared to the same period in 2025. The decline was driven by higher maintenance costs, lower gains on sale of assets, and increased fuel expense, partially offset by improved productivity within Network and price. Truckload operating ratio was 96.7% in the first quarter of 2026 compared to 95.9% in the first quarter of 2025, an increase of 80 basis points.

Intermodal

Intermodal revenues (excluding fuel surcharge) for the first quarter of 2026 were $253.5 million, a decrease of $6.9 million, or 3%, compared to the same quarter in 2025. The decline was driven by a 4% decrease in revenue per order, reflecting shorter length of haul, partially offset by an increase in volume.

Intermodal income from operations for the first quarter of 2026 was $10.9 million, a decrease of $2.9 million, or 21%, compared to the same quarter in 2025. The decrease was driven by lower revenue per order and higher maintenance costs, partially offset by volume growth and reduced purchased transportation, salaries and wages related to headcount actions, and equipment costs. Intermodal operating ratio was 95.7% compared to 94.7% in the same quarter in 2025, an increase of 100 basis points.

Logistics

Logistics revenues (excluding fuel surcharge) for the first quarter of 2026 were $312.3 million, a decrease of $19.7 million, or 6%, compared to the same quarter in 2025, primarily due to lower brokerage volume, partially offset by higher revenue per order.

Logistics income from operations for the first quarter of 2026 was $6.5 million, a decrease of $1.6 million, or 20%, compared to the same quarter in 2025. The decline was driven by lower brokerage volume, partially offset by higher net revenue per order and lower salaries and wages resulting from headcount actions. Logistics operating ratio was 97.9% in the first quarter of 2026, compared to 97.6% in the first quarter of 2025, an increase of 30 basis points.

Business Outlook

“First quarter results ended in-line with our expectations despite some challenges in the form of fuel volatility and weather disruption. As market conditions improve, we continue to be focused on executing on our long-term strategic priorities. The actions already taken have positioned us to deliver strong operating leverage,” said Darrell Campbell, Executive Vice President and Chief Financial Officer of Schneider. “We remain confident that 2026 will see the benefits of our initiatives and the positive impact of supply rationalization. While demand trends have been relatively stable to-date, macro uncertainty has grown. Demand remains a critical swing factor for the pace and magnitude of market improvement from here.”

Campbell added, “As such, our 2026 full year adjusted diluted earnings per share guidance is unchanged at $0.70 to $1.00, which assumes a full year effective tax rate of approximately 24.0%. Our full year net capital expenditures are expected to remain at approximately $400-450 million.”

Non-GAAP Financial Measures

The Company has presented certain non-GAAP financial measures, including revenues (excluding fuel surcharge); adjusted income from operations; adjusted total operating expenses, net of fuel surcharge revenues; adjusted operating ratio; adjusted net income; adjusted EBITDA; free cash flow; and adjusted diluted earnings per share. Management believes the use of non-GAAP measures assists investors in understanding the business, as further described below. The non-GAAP information provided is used by Company management and may not be comparable to similar measures disclosed by other companies. The non-GAAP measures used herein have limitations as analytical tools and should not be considered in isolation or as substitutes for analysis of results as reported under GAAP.

A reconciliation of net income per share to adjusted diluted earnings per share as projected for 2026 is not provided. Schneider does not forecast net income per share as the Company cannot, without unreasonable effort, estimate or predict with certainty various components of net income. The components of net income that cannot be predicted include expenses for items that do not relate to core operating performance, such as costs related to potential future acquisitions, as well as the related tax impact of these items. Further, in the future, other items with similar characteristics to those currently included in adjusted net income, which have a similar impact on the comparability of periods, and which are not known at this time may exist and impact adjusted net income.

About Schneider National, Inc.

Schneider National, Inc. and its subsidiaries (together “Schneider,” the “Company,” “we,” “us,” or “our”) are among the largest providers of surface transportation and logistics solutions in North America. We offer a multimodal portfolio of services and an array of capabilities and resources that leverage artificial intelligence, data science, and analytics to provide innovative solutions that coordinate the timely, safe, and effective movement of customer products. The Company offers truckload, intermodal, and logistics services to a diverse customer base throughout the continental United States, Canada, and Mexico. We were founded in 1935 and have been a publicly held holding company since our IPO in 2017. Our stock is publicly traded on the NYSE under the ticker symbol SNDR.

Our diversified portfolio of complementary service offerings enables us to serve the varied needs of our customers and to allocate capital that maximizes returns across all market cycles and economic conditions. Our service offerings include transportation of full-truckload freight, which we directly transport utilizing either our company-owned transportation equipment and company drivers, owner-operators, or third-party carriers under contract with us. We have arrangements with most of the major North American rail carriers to transport freight in containers. We also provide customized freight movement, transportation equipment, labor, systems, and delivery services tailored to meet individual customer requirements, which typically involve long-term contracts. These arrangements are generally referred to as dedicated services and may include multiple pickups and drops, local deliveries, freight handling, specialized equipment, and freight network design. In addition, we provide comprehensive logistics services with a network of thousands of qualified third-party carriers. We also lease equipment to third parties through our wholly owned subsidiary Schneider Finance, Inc., which is primarily engaged in leasing trucks to owner-operators, including, but not limited to, owner-operators with whom we contract, and we provide insurance for both company drivers and owner-operators through our wholly owned insurance subsidiary.

Conference Call and Webcast Information

The Company will host an earnings conference call today at 4:30 p.m. Eastern Time. The conference call can be accessed by dialing 800-715-9871 toll-free or 646-307-1963 (conference ID: 2793697). A webcast of the conference call can also be accessed on the Investor Relations section of the Company’s website, Schneider.com, along with the current quarterly investor presentation.

SCHNEIDER NATIONAL, INC.

CONSOLIDATED STATEMENTS OF INCOME (Unaudited)

(in millions, except per share data)

Three Months Ended

March 31,

2026

2025

Operating revenues

$

1,398.5

$

1,401.8

Operating expenses:

Purchased transportation

477.6

485.4

Salaries, wages, and benefits

395.3

400.0

Fuel and fuel taxes

124.1

111.3

Depreciation and amortization

110.9

113.6

Operating supplies and expenses—net

187.8

175.1

Insurance and related expenses

40.0

41.2

Other general expenses

29.4

33.1

Total operating expenses

1,365.1

1,359.7

Income from operations

33.4

42.1

Other expenses (income):

Interest income

(1.5

)

(1.6

)

Interest expense

7.0

7.8

Other expenses—net

0.7

1.1

Total other expenses—net

6.2

7.3

Income before income taxes

27.2

34.8

Provision for income taxes

6.8

8.7

Net income

$

20.4

$

26.1

Weighted average shares outstanding

175.1

175.3

Basic earnings per share

$

0.12

$

0.15

Weighted average diluted shares outstanding

175.9

176.0

Diluted earnings per share

$

0.12

$

0.15

SCHNEIDER NATIONAL, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(in millions)

March 31,
2026

December 31,
2025

Assets

Cash and cash equivalents

$

227.8

$

201.5

Trade accounts receivable—net

639.7

578.3

Other current assets

460.1

401.4

Net property and equipment

2,699.8

2,719.6

Other noncurrent assets

895.6

939.3

Total Assets

$

4,923.0

$

4,840.1

Liabilities and Shareholders’ Equity

Trade accounts payable

$

271.9

$

208.6

Current maturities of debt and finance lease obligations

10.7

11.1

Other current liabilities

399.2

336.1

Long-term debt and finance lease obligations

388.1

390.9

Deferred income taxes

594.1

593.8

Other noncurrent liabilities

238.6

274.9

Shareholders’ equity

3,020.4

3,024.7

Total Liabilities and Shareholders’ Equity

$

4,923.0

$

4,840.1

SCHNEIDER NATIONAL, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

(in millions)

Three Months Ended

March 31,

2026

2025

Net cash provided by operating activities

$

92.9

$

91.7

Net cash used in investing activities

(34.8

)

(126.7

)

Net cash (used in) provided by financing activities

(31.8

)

23.6

Net increase (decrease) in cash and cash equivalents

$

26.3

$

(11.4

)

Net capital expenditures

$

(44.8

)

$

(97.1

)

Schneider National, Inc.

Revenues and Income (Loss) from Operations by Segment

(unaudited)

Revenues by Segment

  Three Months Ended

March 31,

(in millions)

2026

2025

Truckload

$

618.0

$

613.7

Intermodal

253.5

260.4

Logistics

312.3

332.0

Other

99.6

88.7

Fuel surcharge

155.4

143.5

Inter-segment eliminations

(40.3

)

(36.5

)

Operating revenues

$

1,398.5

$

1,401.8

Income (Loss) from Operations by Segment

  Three Months Ended

March 31,

(in millions)

2026

2025

Truckload

$

20.2

$

25.1

Intermodal

10.9

13.8

Logistics

6.5

8.1

Other

(4.2

)

(4.9

)

Income from operations

$

33.4

$

42.1

Schneider National, Inc.
Key Performance Indicators by Segment
(unaudited)

We monitor and analyze a number of KPIs in order to manage our business and evaluate our financial and operating performance.

Truckload

The following table presents our Truckload segment KPIs for the periods indicated and is consistent with how revenues and expenses are reported internally for segment purposes. Our Truckload segment is comprised of two operating units:

Dedicated - Transportation services utilizing equipment dedicated to customers under long-term contracts. Network - Transportation services primarily consisting of one-way shipments. Three Months Ended

March 31,

2026

2025

Dedicated

Revenues (excluding fuel surcharge) (1)

$

434.0

$

435.5

Average trucks (2) (3)

8,495

8,543

Revenue per truck per week (4)

$

4,055

$

4,034

Network

Revenues (excluding fuel surcharge) (1)

$

185.3

$

177.9

Average trucks (2) (3)

3,639

3,736

Revenue per truck per week (4)

$

4,041

$

3,767

Total Truckload

Revenues (excluding fuel surcharge) (5)

$

618.0

$

613.7

Average trucks (2) (3)

12,134

12,279

Revenue per truck per week (4)

$

4,051

$

3,953

Average company trucks (3)

10,814

10,973

Average owner-operator trucks (3)

1,320

1,306

Trailers (6)

51,227

53,479

Operating ratio (7)

96.7

%

95.9

%

(1)

Revenues (excluding fuel surcharge), in millions, exclude revenue in transit.

(2)

Includes company and owner-operator trucks.

(3)

Calculated based on beginning and end of month counts and represents the average number of trucks available to haul freight over the specified timeframe.

(4)

Calculated excluding fuel surcharge and revenue in transit, consistent with how revenue is reported internally for segment purposes, using weighted workdays.

(5)

Revenues (excluding fuel surcharge), in millions, include revenue in transit at the operating segment level and, therefore, amounts presented above do not sum to total.

(6)

Includes entire fleet of owned trailers, including trailers with leasing arrangements between Truckload and Logistics.

(7)

Calculated as segment operating expenses divided by segment revenues (excluding fuel surcharge) including revenue in transit and related expenses at the operating segment level.

Intermodal

The following table presents the KPIs for our Intermodal segment for the periods indicated.

Three Months Ended

March 31,

2026

2025

Orders (1)

104,873

104,440

Containers

26,357

26,505

Trucks

1,314

1,419

Revenue per order (2)

$

2,366

$

2,467

Operating ratio (3)

95.7

%

94.7

%

Logistics

The following table presents the KPI for our Logistics segment for the periods indicated.

Three Months Ended

March 31,

2026

2025

Operating ratio (1)

97.9

%

97.6

%

Schneider National, Inc.
Reconciliation of Non-GAAP Financial Measures
(unaudited)

In this earnings release, we present the following non-GAAP financial measures: (1) revenues (excluding fuel surcharge), (2) adjusted income from operations, (3) adjusted operating expenses, net of fuel surcharge revenues, (4) adjusted operating ratio, (5) adjusted net income, (6) adjusted EBITDA, (7) free cash flow, and (8) adjusted diluted earnings per share. We also provide reconciliations of these measures to the most directly comparable financial measures calculated and presented in accordance with GAAP.

Management believes the use of each of these non-GAAP measures assists investors in understanding our business by (1) removing the impact of items from our operating results that, in our opinion, do not reflect our core operating performance, (2) providing investors with the same information our management uses internally to assess our core operating performance, and (3) presenting comparable financial results between periods. In addition, in the case of revenues (excluding fuel surcharge), we believe the measure is useful to investors because it isolates volume, price, and cost changes directly related to industry demand and the way we operate our business from the external factor of fluctuating fuel prices and the programs we have in place to manage such fluctuations. Fuel-related costs and their impact on our industry are important to our results of operations, but they are often independent of other, more relevant factors affecting our results of operations and our industry. Free cash flow is used as a measure to assess overall liquidity and does not represent residual cash flow available for discretionary expenditures as it excludes certain mandatory expenditures such as repayment of maturing debt.

Although we believe these non-GAAP measures are useful to investors, they have limitations as analytical tools and may not be comparable to similar measures disclosed by other companies. You should not consider the non-GAAP measures in this report in isolation or as substitutes for, or alternatives to, analysis of our results as reported under GAAP. The exclusion of unusual or infrequent items or other adjustments reflected in the non-GAAP measures should not be construed as an inference that our future results will not be affected by unusual or infrequent items or by other items similar to such adjustments. Our management compensates for these limitations by relying primarily on our GAAP results in addition to using the non-GAAP measures.

Adjustments to arrive at non-GAAP measures are made at the enterprise level, with the exception of fuel surcharge revenues, which are not included in segment revenues.

Revenues (excluding fuel surcharge)

We define “revenues (excluding fuel surcharge)” as operating revenues less fuel surcharge revenues, which are excluded from revenues at the segment level. Included below is a reconciliation of operating revenues, the most closely comparable GAAP financial measure, to revenues (excluding fuel surcharge).

Three Months Ended

March 31,

(in millions)

2026

2025

Operating revenues

$

1,398.5

$

1,401.8

Less: Fuel surcharge revenues

155.4

143.5

Revenues (excluding fuel surcharge)

$

1,243.1

$

1,258.3

Adjusted income from operations

We define “adjusted income from operations” as income from operations adjusted to exclude certain items that do not reflect our core operating performance. A reconciliation of income from operations, the most directly comparable GAAP measure, to adjusted income from operations is provided below. The items excluded for the periods presented are described in the table and notes below.

Three Months Ended

March 31,

(in millions)

2026

2025

Income from operations

$

33.4

$

42.1

Acquisition-related costs (1)

—

0.2

Intangible asset amortization (2)

1.7

1.9

Adjusted income from operations

$

35.1

$

44.2

Adjusted operating ratio

We define “adjusted operating ratio” as total operating expenses, net of fuel surcharge revenues, divided by revenues (excluding fuel surcharge). A reconciliation of operating ratio, the most directly comparable GAAP measure, to adjusted operating ratio is provided below.

Three Months Ended

March 31,

(in millions, except ratios)

2026

2025

GAAP Presentation

Operating revenues

$

1,398.5

$

1,401.8

Total operating expenses

1,365.1

1,359.7

Income from operations

$

33.4

$

42.1

Operating ratio (1)

97.6

%

97.0

%

Non-GAAP Presentation

Operating revenues

$

1,398.5

$

1,401.8

Less: Fuel surcharge revenues

155.4

143.5

Revenues (excluding fuel surcharge)

$

1,243.1

$

1,258.3

Total operating expenses

$

1,365.1

$

1,359.7

Adjusted for:

Fuel surcharge revenues

(155.4

)

(143.5

)

Acquisition-related costs

—

(0.2

)

Intangible asset amortization

(1.7

)

(1.9

)

Adjusted total operating expenses, net of fuel surcharge revenues (2)

$

1,208.0

$

1,214.1

Adjusted operating ratio (3)

97.2

%

96.5

%

Adjusted net income

We define “adjusted net income” as net income, adjusted to exclude certain items that do not reflect our core operating performance. A reconciliation of net income, the most directly comparable GAAP measure, to adjusted net income is provided below.

Three Months Ended

March 31,

(in millions)

2026

2025

Net income

$

20.4

$

26.1

Acquisition-related costs

—

0.2

Intangible asset amortization

1.7

1.9

Income tax effect of non-GAAP adjustments (1)

(0.4

)

(0.5

)

Adjusted net income

$

21.7

$

27.7

Adjusted EBITDA

We define “adjusted EBITDA” as net income, adjusted to exclude net interest expense, provision for income taxes, depreciation and amortization, and certain items that do not reflect our core operating performance. A reconciliation of net income, which is the most directly comparable GAAP measure, to adjusted EBITDA is provided below.

Three Months Ended

March 31,

(in millions)

2026

2025

Net income

$

20.4

$

26.1

Interest expense, net

5.5

6.2

Provision for income taxes

6.8

8.7

Depreciation and amortization

110.9

113.6

Acquisition-related costs

—

0.2

Adjusted EBITDA

$

143.6

$

154.8

Free cash flow

We define “free cash flow” as net cash provided by operating activities less net cash used for capital expenditures.

Three Months Ended

March 31,

(in millions)

2026

2025

Net cash provided by operating activities

$

92.9

$

91.7

Purchases of transportation equipment

(40.9

)

(114.4

)

Purchases of other property and equipment

(27.0

)

(6.8

)

Proceeds from sale of property and equipment

23.1

24.1

Net capital expenditures

(44.8

)

(97.1

)

Free cash flow

$

48.1

$

(5.4

)

Adjusted diluted earnings per share (1)

Three Months Ended

March 31,

2026

2025

Diluted earnings per share

$

0.12

$

0.15

Non-GAAP adjustments, tax effected

0.01

0.01

Adjusted diluted earnings per share

$

0.12

$

0.16

Special Note Regarding Forward-Looking Statements

This earnings release contains forward-looking statements, within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company’s current expectations, beliefs, plans, or forecasts with respect to, among other things, future events and financial performance and trends in the business and industry. The words “may,” “will,” “could,” “should,” “would,” “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “prospects,” “potential,” “budget,” “forecast,” “continue,” “predict,” “seek,” “objective,” “goal,” “guidance,” “outlook,” “effort,” “target,” and similar words, expressions, terms, and phrases among others, generally identify forward-looking statements, which speak only as of the date the statements were made. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks, and uncertainties. Readers are cautioned that a forward-looking statement is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statement.

The statements in this news release are based on currently available information and the current expectations, forecasts, and assumptions of the Company’s management concerning risks and uncertainties that could cause actual outcomes or results to differ materially from those outcomes or results that are projected, anticipated, or implied in these statements. Such risks and uncertainties include, among others, those discussed in Part I, Item 1A, “Risk Factors,” of the Company’s most recently filed Annual Report on Form 10-K, subsequent Reports on Form 10-Q and 8-K, and other filings we make with the U.S. Securities and Exchange Commission. In addition to any such risks, uncertainties, and other factors discussed elsewhere herein, risks, uncertainties, and other factors that could cause or contribute to actual results differing materially from those expressed or implied by the forward-looking statements include, but are not limited to: unfavorable economic and market conditions, including inflation; tariff volatility or trade disputes resulting in increasing input costs; our ability to successfully manage operational challenges and disruptions, as well as related federal, state, and local government responses arising from future pandemics; economic and business risks inherent in the truckload and transportation industry, including competitive pressures pertaining to pricing, capacity, and service; our ability to effectively manage truck capacity brought about by cyclical driver shortages and successfully execute our yield management strategies; our ability to maintain key customer and supply arrangements (including dedicated arrangements) and to manage disruption of our business due to factors outside of our control, such as natural disasters, acts of war or terrorism, disease outbreaks, or pandemics; volatility in the market valuation of our investments in strategic partners and technologies; our ability to manage and effectively implement our growth and diversification strategies and cost saving initiatives; our dependence on our reputation and the Schneider brand and the potential for adverse publicity, damage to our reputation, and the loss of brand equity; risks related to demand for our service offerings; risks associated with the loss of a significant customer or customers; capital investments that fail to match customer demand or for which we cannot obtain adequate funding; fluctuations in the price or availability of fuel, the volume and terms of diesel fuel purchase agreements, our ability to recover fuel costs through our fuel surcharge programs, and potential changes in customer preferences (e.g. truckload vs. intermodal services) driven by diesel fuel prices; fluctuations in the value and demand for our used Class 8 heavy-duty tractors and trailers; our ability to attract and retain qualified drivers, owner-operators, and third-party carriers in sufficient numbers to support our service offerings; our dependence on railroads in the operation of our intermodal business; changes in the outsourcing practices of our third-party logistics customers; difficulty in obtaining fuel, equipment, goods, and services from our vendors and suppliers; variability in insurance and claims expenses and the risks of insuring claims through our captive insurance company; the impact of laws and regulations that apply to our business, including those that relate to the environment, taxes, associates, owner-operators, and our captive insurance company; changes to those laws and regulations and the increased costs of compliance with existing or future federal, state, and local regulations; political, economic, and other risks from cross-border operations and operations in multiple countries; risks associated with financial, credit, and equity markets, including our ability to service indebtedness and fund capital expenditures and strategic initiatives; negative seasonal patterns generally experienced in the trucking industry during traditionally slower shipping periods and winter months; risks associated with severe weather and similar events; significant systems disruptions, including those caused by cybersecurity events and firmware defects; exposure to claims and lawsuits in the ordinary course of business; our ability to adapt to technological advancements impacting the trucking industry, including artificial intelligence, automated vehicles, and other technologies that improve cash flow, deliver the visibility customers expect, and maximize asset utilization.

The Company undertakes no obligation to publicly release any revision to its forward-looking statements to reflect events or circumstances which may occur after the date of this earnings release.

Schneider National, Inc. (SNDR) Q1 2026 Earnings Call Transcript

Schneider National reported 1Q26 results showing continued margin compression and revenue declines across all segments, despite management's constructive tone on market tightening. SNDR's operating income fell 20% YoY, with positives like Network productivity and Intermodal volume growth insufficient to offset broad operational weakness. Management maintains full-year EPS guidance of $0.70 to $1.00, citing uncertain demand as a key swing factor despite signs of supply tightening.

Key Takeaways SNDR Q1 EPS of 12 cents beat estimates, while revenue of $1.40B missed and stayed flat year over year. Schneider reported lower operating income across segments due to higher costs and weaker volumes.SNDR raised its dividend 5%, approved a $150M buyback, and guided 2026 EPS at 70 cents-$1.00. Schneider National, Inc. (SNDR - Free Report) reported first-quarter 2026 results, wherein the company’s earnings beat the Zacks Consensus Estimate, but revenues missed the same.

Quarterly earnings per share (EPS) of 12 cents beat the Zacks Consensus Estimate by 9.1% and declined 25% from the year-ago reported quarter figure. Operating revenues of $1.40 billion missed the Zacks Consensus Estimate of $1.41 billion but remained flat on a year-over-year basis.

Income from operations (adjusted) fell 20.7% from the prior-year quarter’s level to $33.4 million.

SNDR’s Q1 Segmental HighlightsTruckload revenues (excluding fuel surcharge) for the first quarter of 2026 totaled $618 million, up 1% year over year, owing to improved Network productivity and an increase in price for both Network and Dedicated, partially offset by lower Dedicated volume. Truckload revenues per truck per week were $4,051 (up 2% year over year).

Truckload income from operations totaled $20.2 million in the first quarter of 2026, down 20% year over year, owing to higher maintenance costs, lower gains on sale of assets and increased fuel expense, partially offset by improved productivity within Network and price. Truckload operating ratio improved to 96.7% in the first quarter of 2026 from 95.9% in the first quarter of 2025.

Intermodal revenues (excluding fuel surcharge) for the first quarter of 2026 came in at $253.5 million, down 3% year over year. The decline was due to a 4% decrease in revenues per order, reflecting a shorter length of haul, partially offset by an increase in volume.

Intermodal income from operations for the first quarter of 2026 was $10.9 million, down 21% year over year. The decrease was due to lower revenues per order and higher maintenance costs, partially offset by volume growth and reduced purchased transportation, salaries and wages related to headcount actions and equipment costs. Intermodal operating ratio fell to 95.7% from 94.7% in the first quarter of 2025.

Logistics revenues (excluding fuel surcharge) for the first quarter of 2026 came in at $312.3 million, down 6% year over year, owing to lower brokerage volume, partially offset by higher revenues per order.

Logistics income from operations for the first quarter of 2026 was $6.5 million, down 20% year over year, due to lower brokerage volume, partially offset by higher net revenues per order and lower salaries and wages resulting from headcount actions. Logistics operating ratio rose to 97.9% in the first quarter of 2026 from 97.6% in the first quarter of 2025.

Liquidity & Cash FlowSchneider National exited the first-quarter with cash and cash equivalents of $227.8 million compared with $201.5 million at the end of the prior quarter. Long-term debt was $388.1 million at the end of the reported quarter compared with $390.9 million at the end of the prior-quarter.

SNDR generated $92.9 million of cash from operations in the reported quarter. Net capital expenditures were $44.8 million.

In January 2026, the company announced the approval of a new $150.0 million share repurchase program. As of March 31, 2026, the company had repurchased a total of 0.2 million Class B shares amounting to $5.2 million under the new program.

On Jan. 26, 2026, SNDR’s board of directors declared a dividend hike of 5%, raising its quarterly cash dividend to 10 cents per share from 9.5 cents. The raised dividend (payable to shareholders of record as of March 13, 2026) is expected to be paid on April 8, 2026. As of March 31, 2026, the company had returned $17.1 million in the form of dividends to shareholders year to date.

SNDR’s 2026 OutlookSchneider National has unveiled its guidance for 2026. The company expects its 2026 adjusted EPS to be in the range of 70 cents to $1.00. The Zacks Consensus Estimate is currently pegged at 22 cents.

Full-year effective tax rate is expected to be 24%. The company expects net capital expenditures to be in the range of $400-$450 million.

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

Q1 Performances of Other Transportation CompaniesDelta Air Lines (DAL - Free Report)  reported first-quarter 2026 earnings (excluding $1.08 from non-recurring items) of 64 cents per share, which beat the Zacks Consensus Estimate of 61 cents. Earnings increased 39.1% on a year-over-year basis. Revenues in the March-end quarter were $14.2 billion, beating the Zacks Consensus Estimate of $14 billion and increasing on a year-over-year basis. 

J.B. Hunt Transport Services (JBHT - Free Report) posted first-quarter 2026 earnings per share of $1.49, up 27% from $1.17 a year ago. The result topped the Zacks Consensus Estimate by $0.04, reflecting a 2.8% surprise.

Operating revenues totaled $3.06 billion, rising 4.6% year over year. Revenues beat the consensus mark of $2.94 billion, resulting in a 3.9% surprise, as demand proved resilient across several service offerings, led by Intermodal volume growth and higher revenues per load in select highway-related businesses.

JACKSONVILLE, Fla., May 06, 2026 (GLOBE NEWSWIRE) -- CSX Corp. (NASDAQ: CSX) and Canadian Pacific Kansas City (TSX:CP) (NYSE:CP) (CPKC) today announced upgrades to the Southeast Mexico Express (SMX) premium service featuring faster transit times with more origin and destination options for customers looking to reach new markets.

The new SMX premium service schedule and routing options launched May 4, 2026, offer industry-best, truck-competitive transit times between southeastern markets such as Atlanta, Charlotte or central Florida, and markets in Texas and Mexico, including Dallas and Monterrey. The service improvements have reduced transit times for every previously available SMX option. These reductions range from approximately one-day-faster service between Atlanta and Dallas, and approximately 2.5 days faster between Atlanta and central Mexico. SMX improvements are the result of capital investments in track, bridges and signal infrastructure on the former Meridian & Bigbee Railroad (MNBR) and continued investments across the corridor in Georgia, Alabama, Mississippi, Louisiana, and Texas offering greater speeds and more efficiency.

“These service upgrades, providing approximately 20 to 45 percent improvement to SMX transit times, reflect our ongoing commitment to providing more best-in-class, flexible transportation solutions to our customers looking for innovative ways to reach new markets,” said Keith Creel, CPKC President & CEO. “Together with CSX, the SMX offers a level of speed, flexibility and dependability that reaches additional growing markets in the U.S. Southeast. This is a premium rail solution that cannot be replicated because we have the best route linking shippers to Texas and to Mexico that will move more trucks to rail.”

“The upgraded SMX service demonstrates the long-term investments CSX has made to strengthen this corridor and provide more consistent, reliable service for our customers,” said Steve Angel, president and CEO of CSX. “By working closely with CPKC, we’re expanding access and delivering meaningful improvements for shippers moving freight between the key markets of the Southeast U.S. and Mexico.”

The new SMX dedicated train service provides two-day service between Atlanta and Dallas, with three-day service from Monterrey and four-day service from central Mexico to Atlanta. Customers can extend their reach with new SMX origins and destinations in Charlotte, Jacksonville and Central Florida.

CSX and CPKC debuted the SMX in December 2024 creating rail transportation routing options with available capacity along this east-west corridor for customers looking to reach Texas and Mexico from the U.S. Southeast. The connection came out of the two Class I’s respective acquisitions of portions of the former MNBR. As a result, CPKC and CSX established a direct Class I-to-Class I interchange near Myrtlewood, Alabama.

Schneider National, Inc. (NYSE:SNDR), a premier multimodal provider of transportation, intermodal and logistic services, has already experienced the SMX advantage and looks forward to building on its earlier success in the corridor.

“Schneider has seen firsthand the value of continued collaboration with our railroad partners in bringing new, innovative intermodal products to market,” said Schneider President and CEO Mark Rourke. “The enhanced Southeast Mexico Express delivers more reliable and truck-like service, making it an attractive option for shippers looking to move freight between Texas, Mexico and the Southeastern United States. There is strong demand in these lanes, and the upgrades further strengthen rail’s ability to compete with trucks on speed and consistency while offering customers greater capacity and efficiency.”

SMX gives intermodal, automotive and carload customers truck-competitive transit times, greater capacity, and environmentally sustainable rail solutions.

Advantages of SMX include:

Direct connectivity: Links to Mexico, Texas and U.S. Southeast.Market access: Expanded connectivity to diverse origin points across North America.Faster transit times: Improved time and cost efficiency supported by infrastructure upgrades.Secure transportation: Advanced technology expedites border crossings while enhancing shipment security.Environmental sustainability: Replaces up to 300 semi-trucks per train, reducing emissions. The combined strength of CSX and CPKC through SMX continues to meet evolving customer demands and set new standards in North American freight.

About CSX

CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural and consumer products. For nearly 200 years, CSX has played a critical role in the nation’s economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation’s population resides. It also links more than 240 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike. More information about CSX Corporation and its subsidiaries is available at www.csx.com. Like us on Facebook and follow us on X, formerly known as Twitter.

About CPKC

With its global headquarters in Calgary, Alta., Canada, CPKC is the first and only single-line transnational railway linking Canada, the United States and México, with unrivaled access to major ports from Vancouver to Atlantic Canada to the Gulf Coast to Lázaro Cárdenas, México. Stretching approximately 20,000 route miles and employing approximately 20,000 railroaders, CPKC provides North American customers unparalleled rail service and network reach to key markets across the continent. CPKC is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpkcr.com to learn more about the rail advantages of CPKC. CP-IR

Contact:

CSX

Matthew Korn, CFA, Investor Relations
904-366-4515

Austin Staton, Corporate Communications
[email protected]

CPKC