SEI Investments (SEIC - Free Report) came out with quarterly earnings of $1.66 per share, beating the Zacks Consensus Estimate of $1.45 per share. This compares to earnings of $1.78 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +14.48%. A quarter ago, it was expected that this investment management firm would post earnings of $1.29 per share when it actually produced earnings of $1.44, delivering a surprise of +11.63%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
SEI, which belongs to the Zacks Financial - Investment Management industry, posted revenues of $641.62 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.58%. This compares to year-ago revenues of $559.6 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.
SEI shares have added about 19.1% since the beginning of the year versus the S&P 500's gain of 9.7%.
What's Next for SEI?While SEI 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 SEI was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.55 on $666.96 million in revenues for the coming quarter and $5.98 on $2.59 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Investment Management is currently in the top 29% 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, Cannae Holdings, Inc. (CNNE - Free Report) , is yet to report results for the quarter ended June 2026.
This company is expected to post quarterly loss of $0.50 per share in its upcoming report, which represents a year-over-year change of +86.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Cannae Holdings, Inc.'s revenues are expected to be $103.7 million, down 5.9% from the year-ago quarter.
READING, Pa.--(BUSINESS WIRE)-- #EnerSys--EnerSys (NYSE: ENS), a global leader in stored energy solutions for industrial, infrastructure, and defense applications, announced today that the Company will release its first quarter fiscal 2027 financial results for the period ended July 5, 2026, after the market close on Wednesday, August 12, 2026. The press release and slide presentation will be available in the Investor Relations section of the Company's website at www.investor.enersys.com. The Company will.
Alaska Air Group, Inc. (ALK) Q2 2026 Earnings Call July 22, 2026 11:30 AM EDT
Company Participants
Ryan St. John - Vice President of Finance, Planning & Investor Relations
Benito Minicucci - President, CEO & Director and CEO of Alaska Airlines
Andrew Harrison - Chief Commercial Officer & Executive VP
Shane Tackett - CFO & President of Alaska Airlines
Emily Halverson - VP of Finance and Treasury, Controller & Principal Accounting Officer of Alaska Airlines, Inc
Andrew Harrison - Executive VP & Chief Commercial Officer of Alaska Airlines Inc
Conference Call Participants
Atul Maheswari - UBS Investment Bank, Research Division
Duane Pfennigwerth - Evercore ISI Institutional Equities, Research Division
Conor Cunningham - Melius Research LLC
Savanthi Syth - Raymond James Ltd., Research Division
Brandon Oglenski - Barclays Bank PLC, Research Division
Catherine O'Brien - Goldman Sachs Group, Inc., Research Division
Thomas Fitzgerald - TD Cowen, Research Division
Michael Goldie - BMO Capital Markets Equity Research
Scott Group - Wolfe Research, LLC
Andrew Didora - BofA Securities, Research Division
Presentation
Operator
Good morning, ladies and gentlemen, and welcome to the Alaska Air Group 2026 Second Quarter Earnings Call. [Operator Instructions] Today's call is being recorded and will be accessible for future playback at alaskaair.com. [Operator Instructions]
I would now like to turn the call over to Alaska Air Group's Vice President of Finance, Planning and Investor Relations, Ryan St. John.
Ryan St. John
Vice President of Finance, Planning & Investor Relations
Thank you, operator, and good morning. Thanks for joining us today to discuss our second quarter 2026 earnings results. Yesterday, we issued our earnings release along with several accompanying slides detailing our results, which are available at investor.alaskaair.com. On today's call, you'll hear updates from Ben, Andrew and Shane. Several others of our management team are also on the line to answer your questions during the Q&A portion of the call.
HOUSTON--(BUSINESS WIRE)--Black Stone Minerals, L.P. (NYSE: BSM) (“Black Stone,” “BSM,” or “the Partnership”) today declared the distribution attributable to the second quarter of 2026. Additionally, the Partnership announced the date of its second quarter 2026 earnings call. Common Distribution The Board of Directors of the general partner has approved a cash distribution of $0.32 per common unit attributable to the second quarter of 2026. This represents an increase of approximately 7% over t.
SANTA ANA, Calif.--(BUSINESS WIRE)--First American Financial Corporation (NYSE: FAF), a premier provider of title, settlement and risk solutions for real estate transactions and the leader in the digital transformation of its industry, today announced financial results for the second quarter ended June 30, 2026. Current Quarter Highlights Earnings per diluted share of $2.12, or $2.08 per share on an adjusted basis Net investment gains of $12 million, or 9 cents per diluted share Purchase-relate.
Bragar Eagel & Squire, P.C. Litigation Partner Brandon Walker Encourages Investors Who Suffered Losses In Lamb Weston (LW) To Contact Him Directly To Discuss Their Options
If you are a long-term stockholder in Lamb Weston and would like to discuss your legal rights, contact Bragar Eagel & Squire partners Brandon Walker or Melissa Fortunato by email at [email protected] or by telephone at (212) 355-4648.
Click here to participate in the action.
NEW YORK, July 22, 2026 (GLOBE NEWSWIRE) --
What’s Happening:
Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Lamb Weston Holdings, Inc. (NYSE:LW) on behalf of long-term stockholders following a class action complaint that was filed against Lamb Weston on June 13, 2024 with a Class Period from July 25, 2023 to April 3, 2024. Our investigation concerns whether the board of directors of Lamb Weston have breached their fiduciary duties to the company.
Details:
The complaint alleged that, throughout the Class Period, Defendants made numerous material misrepresentations and omissions regarding the design and implementation of Lamb Weston’s new ERP system. Specifically, throughout the Class Period, (1) Defendants represented that, through the design of the Company’s new ERP system, Lamb Weston had “strengthen[ed] [its] operational infrastructure.” (2) The Company also downplayed any issues it experienced with the implementation of the system as merely “usual bumps,” and told investors that its financial guidance for fiscal 2024 appropriately accounted for any negative financial impact associated with the system’s deployment.
The complaint further alleged that the truth emerged on April 4, 2024, when Lamb Weston reported financial results for its fiscal third quarter 2024, and disclosed significant problems with its transition to the new ERP system. Those problems caused Lamb Weston to lose over $130 million in sales during the third quarter and led the Company to significantly reduce its sales guidance for its full fiscal year. The unsuccessful ERP transition resulted in Lamb Weston’s “reduced visibility into finished goods inventory at [ ] distribution centers,” which negatively impacted the Company’s ability to fulfill customer orders, resulting in shipment delays and cancelled orders. In total, Lamb Weston’s disastrous ERP system roll-out negatively impacted the Company’s net sales by $135 million, net income by $72 million, and adjusted earnings before interest, taxes, depreciation, and amortization by $95 million. Lamb Weston also cut its sales guidance range for fiscal 2024 by $330 million, at the midpoint. The Company disclosed that it expected sales volumes in its fiscal fourth quarter 2024 to be negatively impacted by some customers that were affected by Lamb Weston’s botched ERP transition, as those customers turned to Lamb Weston’s competitors to meet their needs. As a result of these disclosures, the price of Lamb Weston stock declined by $19.59 per share, or over 19%.
Next Steps:
If you are a long-term stockholder of Lamb Weston, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at [email protected], by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, South Carolina, and California. The firm represents individual and institutional investors in securities, derivative, and commercial litigation as well as individuals in consumer protection and data privacy litigation. The firm has a nationwide practice and routinely handles cases in both federal and state courts. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Follow us for updates on LinkedIn and Facebook, and keep up with other news by following Brandon Walker, Esq. on LinkedIn.
EastGroup Properties (EGP - Free Report) came out with quarterly funds from operations (FFO) of $2.36 per share, missing the Zacks Consensus Estimate of $2.37 per share. This compares to FFO of $2.21 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an FFO surprise of -0.42%. A quarter ago, it was expected that this real estate investment trust would post FFO of $2.29 per share when it actually produced FFO of $2.34, delivering a surprise of +2.18%.
Over the last four quarters, the company has surpassed consensus FFO estimates two times.
EastGroup Properties, which belongs to the Zacks REIT and Equity Trust - Other industry, posted revenues of $193.33 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 0.26%. This compares to year-ago revenues of $177.29 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.
EastGroup Properties shares have added about 24.3% since the beginning of the year versus the S&P 500's gain of 9.7%.
What's Next for EastGroup Properties?While EastGroup Properties 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 FFO outlook. Not only does this include current consensus FFO 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 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 estimate revisions.
Ahead of this earnings release, the estimate revisions trend for EastGroup Properties 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 FFO estimate is $2.42 on $196.25 million in revenues for the coming quarter and $9.59 on $780.11 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Other is currently in the top 24% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, National Health Investors (NHI - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 10.
This health care real estate investment trust is expected to post quarterly earnings of $1.26 per share in its upcoming report, which represents a year-over-year change of +3.3%. The consensus EPS estimate for the quarter has been revised 8.4% lower over the last 30 days to the current level.
National Health Investors' revenues are expected to be $118 million, up 30.2% from the year-ago quarter.
SILICON SLOPES, Utah--(BUSINESS WIRE)---- $DOMO--Domo, Inc. (NASDAQ: DOMO) (“Domo” or the “Company”) today announced that its Board of Directors has unanimously approved a definitive agreement under which Progress Software Corporation (NASDAQ: PRGS) (“Progress”) will acquire substantially all of the assets and employees, excluding the Company's net operating loss (“NOL”) carryforwards, and assume certain liabilities of the Company for $400 million in cash, subject to customary purchase price adjustments.
Acquisition further strengthens the capabilities of Progress data platform offerings to provide organizations the context and control to securely turn fragmented enterprise knowledge into governed, AI-ready intelligence—improving accuracy, speed and cost.
BURLINGTON, Mass., July 22, 2026 (GLOBE NEWSWIRE) -- Progress Software (Nasdaq: PRGS), an AI infrastructure software leader, today announced that it entered into an agreement to acquire substantially all of the assets and assume certain liabilities of Domo, including its AI and data products platform.
The acquisition aligns with Progress’ strategy to deliver the context and control for AI so customers can achieve their business goals with confidence. Domo’s agentic platform for the intelligent enterprise complements and significantly broadens Progress’ data platform offerings, creating powerful synergies to deliver innovative, secure and scalable AI data readiness solutions worldwide.
“Effective AI starts with accurate, trusted data and content to provide the context for accurate and verifiable outcomes,” said Yogesh Gupta, CEO of Progress Software. “Domo is a leading AI and data platform that enables businesses to access, integrate and leverage their data at scale. Domo’s product capabilities, coupled with their team’s expertise in cloud architectures and analytics, are highly complementary to our expanding Progress data platform capabilities that significantly improve the security, governance and cost of our customers’ AI initiatives.”
Domo will add a customer base of over 2,400 businesses, as well as a global and strategic ecosystem of cloud data warehouse technology partnerships.
“We have built Domo around the simple idea that trusted data should help people make better decisions and take action,” said Josh James, founder and CEO of Domo. “The addition of our product capabilities to the Progress data platform will give customers a stronger foundation for building AI that understands their business, works from governed data and can be trusted to support meaningful decisions.”
The proposed acquisition of Domo’s AI and data platform business is another example of the continued execution of Progress’ Total Growth Strategy. Progress continues to maintain financial discipline while seeking to acquire strong businesses with products that complement its existing AI solutions portfolio, include a robust customer base with strong retention rates and solid recurring revenue, and align with its company culture.
Reiterating Guidance
Based on currently available information, Progress anticipates revenue and non-GAAP earnings per share for its fiscal third quarter will be within or above the high end of previously issued guidance provided on June 30, 2026. The company will discuss full financial results of its third quarter on a conference call on September 30, 2026.
Transaction Details
The transaction is structured as an asset purchase where Progress intends to acquire substantially all of the assets and assume certain liabilities of Domo for a cash purchase price of $400 million. The acquisition is currently expected to close within Progress’ fiscal year, ending November 30, 2026, subject to obtaining regulatory approvals and the satisfaction of other customary closing conditions as set forth in the definitive agreement.
Progress expects to finance the transaction with a combination of cash and Progress’ existing revolving credit facility.
Conference Call
Progress will host a conference call to review details of the transaction at 5 p.m. EDT today, Wednesday, July 22, 2026. A live webcast of the call will be available using this link. To access the conference call by phone, please use this link to retrieve dial-in details. Attendees must register for the conference call, and an archived version and support materials will be available on the Progress Investor Relations webpage shortly after the conference call concludes.
Advisors
Citi is serving as the exclusive financial advisor for Progress on this transaction, and DLA Piper LLP (US) is serving as Progress’ legal counsel. Jefferies LLC is serving as the exclusive financial advisor to Domo, and Goodwin Procter LLP is serving as legal counsel.
About Progress Software
Progress Software (Nasdaq: PRGS) provides the context and control organizations need to reliably extract value from AI — context drawn from an organization's data, content and workflows, and control over the security, governance and cost of their AI initiatives. Learn how hundreds of thousands of businesses, powering the work of tens of millions of professionals worldwide, realize value from trusted, enterprise-ready AI at www.progress.com.
About Domo
Domo (Nasdaq: DOMO) is an AI and Data Products platform that helps companies of all sizes leverage data and AI to drive value in today’s data-driven world. Built around our customers’ preferred data foundation, powered by our award-winning Domo.AI solution, and enriched with our partner ecosystem, the Domo platform enables users to prepare, visualize, automate, distribute, and build end-to-end data products that provide solutions across the entire data journey. From hydrating your data foundation, to building fully embedded applications that can be shared with your employees and customers, to deploying AI models across a variety of providers, Domo gives users the ability to build data products that generate measurable value for the business.
Note Regarding Forward-Looking Statements
This press release contains statements that are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Progress has identified some of these forward-looking statements with words like “believe,” “may,” “could,” “would,” “might,” “should,” “expect,” “intend,” “plan,” “target,” “anticipate” and “continue,” the negative of these words, other terms of similar meaning or the use of future dates. Risks, uncertainties and other important factors that could cause actual results to differ from those expressed or implied in the forward-looking statements include: Progress’ ability to close the proposed transaction, the expected time of closing or the expected benefits therefore; uncertainties as to the effects of disruption from the acquisition of Domo making it more difficult to maintain relationships with employees, licensees, other business partners or governmental entities; other business effects, including the effects of industry, economic or political conditions outside of Progress’ control; transaction costs; actual or contingent liabilities; uncertainties as to whether anticipated synergies or tax benefits will be realized; and uncertainties as to whether Domo’s business will be successfully integrated with Progress’ business. For further information regarding risks and uncertainties associated with Progress’ business, please refer to Progress’ filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended November 30, 2025. Progress undertakes no obligation to update any forward-looking statements, which speak only as of the date of this press release.
Non-GAAP Financial Information
This press release contains certain non-GAAP financial measures. These measures are provided solely as supplemental information and are not intended to be considered in isolation or as a substitute for the comparable GAAP measures; these measures reflect assumptions and expected synergies from the transaction and are subject to risks and uncertainties. Progress is unable to provide a reconciliation of the projected non-GAAP measures provided herein to the relevant projected GAAP measures without unreasonable effort because certain items necessary to calculate such GAAP measures are inherently uncertain and dependent on future events.
Progress is a trademark or registered trademark of Progress Software Corporation and/or its subsidiaries or affiliates in the U.S. and other countries. Any other names contained herein may be trademarks of their respective owners.
CINCINNATI--(BUSINESS WIRE)--Medpace Holdings, Inc. (Nasdaq: MEDP) (“Medpace”) today announced financial results for the second quarter ended June 30, 2026. Second Quarter 2026 Financial Results Revenue for the three months ended June 30, 2026 increased 17.2% to $707.3 million, compared to $603.3 million for the comparable prior-year period. On a constant currency basis, revenue for the second quarter of 2026 increased 17.2% compared to the second quarter of 2025. Backlog as of June 30, 2026 in.
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Stock Market Rally Defies Rising Oil, Bond Yields; Chips Lead As Seagate, Micron Make Bullish Moves Medpace Holdings (MEDP) stock surged by double digits late Wednesday, helped by a big bookings beat, rebounding from a poor start to the year. The contract research organization, or CRO, put up a book-to-bill ratio of 1.13x, easily above expectations for 0.95x to 1.01x, according to Leerink Partners analyst Michael Cherny. That means Medpace received more new orders than it…
Logitech International SA (USA) (NASDAQ:LOGI) is expected to deliver fiscal first-quarter results near the upper end of its guidance range when it reports on July 28, according to Wedbush analysts.
The analysts maintained their ‘Outperform’ rating and $135 price target ahead of the release, implying upside from current levels of about $104.
They expect Logitech to post revenue of $1.21 billion for the quarter, up 5% from a year earlier and slightly above the consensus estimate of $1.20 billion.
They also expect non-GAAP operating income of $215 million, at the top end of the company's guidance range of $195 million to $215 million and above the consensus estimate of $209 million.
Wedbush projects earnings per share of $1.39, compared with the consensus forecast of $1.32. The firm expects gross margin to improve by about 160 basis points year over year to 43.7%, driven by pricing improvements, although partially offset by promotional activity.
The analysts expect Logitech to report growth despite ongoing pressure on the broader PC market, supported by strength across multiple product categories and geographic markets.
"We expect Logitech to report in line growth despite category headwinds as it diversifies its strengths across categories and geographies," Wedbush wrote.
By segment, the firm forecasts 3% year-over-year growth in Personal Workspace Solutions, including 5% growth in Keyboards & Combos and 4% growth in Pointing Devices, while Webcams and Tablets & Other Accessories are expected to remain broadly flat. Video Collaboration revenue is projected to rise 5% despite a difficult comparison from the prior year, while Gaming revenue is expected to increase 10%, supported by the launch of Logitech's G Pro X2 Superstrike gaming mouse and continued momentum from its China-focused strategy.
Wedbush also highlighted Logitech's ability to expand margins despite higher component and shipping costs, citing product innovation, cost reductions, targeted promotions, and supply chain improvements. The firm noted that the company's focus on expanding its business-to-business operations, gaining market share in China, reaccelerating its video conferencing business, and strengthening its position in personal workspace solutions has helped offset broader industry challenges.
The analysts also pointed to Logitech's balance sheet as a source of flexibility, noting the company holds approximately $12 per share in cash and carries no debt, providing capacity for acquisitions, share repurchases, and dividend growth.
Logitech will report its fiscal Q1 results after the market closes on July 28.
Rollins (ROL - Free Report) came out with quarterly earnings of $0.32 per share, missing the Zacks Consensus Estimate of $0.34 per share. This compares to earnings of $0.3 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -5.88%. A quarter ago, it was expected that this operator of Orkin and other pest and termine control services would post earnings of $0.24 per share when it actually produced earnings of $0.24, delivering no surprise.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
Rollins, which belongs to the Zacks Building Products - Maintenance Service industry, posted revenues of $1.08 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 1.73%. This compares to year-ago revenues of $999.53 million. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Rollins shares have lost about 26.9% since the beginning of the year versus the S&P 500's gain of 9.7%.
What's Next for Rollins?While Rollins 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 Rollins was unfavorable. 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 #4 (Sell) for the stock. So, the shares are expected to underperform 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 $0.39 on $1.14 billion in revenues for the coming quarter and $1.24 on $4.14 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products - Maintenance Service is currently in the bottom 3% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the broader Zacks Business Services sector, Stantec (STN - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on August 12.
This engineering firm is expected to post quarterly earnings of $1.15 per share in its upcoming report, which represents a year-over-year change of +17.4%. The consensus EPS estimate for the quarter has been revised 0.8% lower over the last 30 days to the current level.
Stantec's revenues are expected to be $1.3 billion, up 13% from the year-ago quarter.
PEORIA, Ill.--(BUSINESS WIRE)-- #casualtyinsurance--RLI reported second quarter 2026 net earnings of $168.0 million, or $1.82 per share, and operating earnings of $76.9 million, or $0.83 per share.
3 Dividend Stocks with Growth on Tap for the Second HalfKinder Morgan NYSE: KMI reported second-quarter 2026 results that executives said exceeded both year-earlier levels and the company’s internal budget, as stronger natural gas volumes, higher commodity-related contributions and broad-based segment performance supported the quarter.
Executive Chairman Rich Kinder said the company’s adjusted EBITDA and earnings per share continued to exceed both prior-year results and Kinder Morgan’s 2026 budget “by significant margins.” He said the company continues to benefit from rising demand tied to LNG exports and natural gas-fired power generation, creating additional opportunities for midstream infrastructure backed by long-term contracts.
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Pipelines and Automation: 2 Energy Plays Built for Any Oil PriceCEO Kim Allen Dang called the quarter “another fantastic quarter” and said adjusted EBITDA increased 12% from the second quarter of 2025, while adjusted earnings per share rose 32%. Dang said every business segment contributed positively to the year-over-year performance.
Kinder Morgan Raises 2026 Outlook Dang said Kinder Morgan is raising its full-year guidance after a strong first half and confidence in the remainder of 2026. The company now expects full-year adjusted EBITDA to be at least 5% above its 2026 budget and adjusted EPS to be at least 11% above the original budget.
Kinder Morgan’s Cash Flow Drives Upside: Potential Swells in Q1CFO David Michels said second-quarter net income attributable to Kinder Morgan was $867 million, with EPS of $0.39. Those figures were up 21% and 22%, respectively, from the second quarter of 2025. Adjusted EPS was $0.37, up 32% year over year, and adjusted EBITDA rose 12%.
Michels said EPS came in more than 24% above budget for the quarter, while adjusted EBITDA was more than 9% above budget. Year to date, he said EBITDA has grown 15% and adjusted EPS has grown 35% compared with 2025.
The company declared a quarterly dividend of $0.2975 per share, or $1.19 annualized, representing a 2% increase over 2025.
Natural Gas Demand Drives Growth Opportunities Dang said the fundamentals supporting Kinder Morgan’s natural gas business “have never been stronger.” Citing Wood Mackenzie’s latest outlook, she said U.S. natural gas demand is expected to exceed 160 billion cubic feet per day by 2035, an increase of about 46 Bcf per day compared with 2025. Dang said the primary drivers are increased LNG export capacity and rapidly growing power demand.
President Dax Sanders said natural gas transport volumes increased 7% from the second quarter of 2025. He cited several drivers, including increased LNG feed gas deliveries on Tennessee Gas Pipeline, higher demand on Kinder Morgan’s intrastate system, increased power demand along the El Paso pipeline and greater exports to Mexico.
Sanders said natural gas gathering volumes increased 26% year over year, with the largest contribution from the KinderHawk system in the Haynesville, where volumes rose 54%.
Sanders said Kinder Morgan is evaluating projects to serve more than 10 Bcf per day of natural gas demand in the power generation sector and about 3 Bcf per day in the LNG sector.
Backlog Remains Near Historic Highs Dang said Kinder Morgan’s project backlog stood at approximately $9.6 billion at the end of the quarter, down from about $10.1 billion. The decline was mainly due to the company placing more than $650 million of projects into service, partly offset by about $200 million of new project additions.
Dang said the board contingently approved nearly $400 million of projects that are in advanced contract negotiations. Those projects will be added to the backlog upon contract execution, which she said would “virtually” offset the quarter’s backlog decline.
Dang also said the company expects to add significant projects from its more than $10 billion opportunity set before year-end, likely more than offsetting the roughly $1 billion of projects expected to enter service during the second half of 2026.
Kinder Morgan’s three largest natural gas expansion projects — Mississippi Crossing, South System Expansion Four and Trident — remain on schedule and on budget, Dang said. Mississippi Crossing and South System Expansion Four received final FERC environmental impact statements in June, and the company expects FERC certificates by the end of the month. Trident is about 60% complete.
During the question-and-answer session, Dang said Kinder Morgan has room to fund additional capital spending while remaining within its leverage targets. She said the company ended the quarter at 3.6 times leverage and could add $3.4 billion of balance sheet capacity if leverage moved to 4.0 times.
Segment Performance Mixed Outside Natural Gas In products pipelines, Sanders said refined product volumes declined 5% compared with the second quarter of 2025. Crude and condensate volumes were down 16% from the first quarter of 2025, mostly due to the removal of Double H from service for an NGL conversion early in the third quarter of 2025. Excluding Double H volumes in both periods, crude and condensate volumes were down about 5% year over year.
Sanders said Kinder Morgan and Phillips 66 continue to move forward on Western Gateway. He said partnership agreements have taken longer than expected because of the complexity of the proposed arrangement, but the company aims to complete documents within the next month or two and, assuming progress continues, move to a final investment decision.
In terminals, Sanders said liquids lease capacity remained high at 93%, and utilization of tanks available for use was about 99% at key hubs on the Houston Ship Channel and at Carteret. He said the tanker fleet remains well contracted, assuming likely options are exercised, with 100% leased through 2026, 97% leased through 2027 and 80% leased through 2028.
The CO₂ segment reported 10% higher net oil production volumes compared with the second quarter of 2025, led by a 15% increase at SACROC. NGL volumes rose 9%, while CO₂ volumes increased 5%. Renewable natural gas volumes increased 8% as improved operations drove higher uptime and hydrocarbon recovery.
Balance Sheet and Capital Allocation Michels said Kinder Morgan ended the quarter with net debt to adjusted EBITDA of 3.6 times, down from 3.8 times at the beginning of the year and below the company’s budget. He said Kinder Morgan now expects to end 2026 at 3.6 times leverage, compared with a budgeted 3.8 times, despite higher spending tied to the Monument acquisition and increased growth capital.
Year to date, Michels said Kinder Morgan generated $3.45 billion of cash flow from operations, paid $1.315 billion in dividends, spent $1.92 billion on total capital and completed the $500 million Monument acquisition. Net debt increased $311 million over that period.
Dang said Kinder Morgan does not currently view itself as capital constrained. She said acquisitions compete with expansion projects for capital, but noted that acquisitions include immediate cash flow, while expansion projects typically involve a timing drag before generating returns.
About Kinder Morgan (NYSE:KMI)Kinder Morgan NYSE: KMI is a large energy infrastructure company that owns and operates an extensive network of pipelines and terminals across North America. Its core activities center on the transportation, storage and handling of energy products, including natural gas, natural gas liquids (NGLs), crude oil, refined petroleum products and carbon dioxide. The company's assets include long-haul and gathering pipelines, storage facilities, and multi-modal terminals that serve producers, refiners, utilities and industrial customers.
Kinder Morgan's operations deliver midstream services such as pipeline transportation, terminaling, storage and related logistics and maintenance.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Kinder Morgan (KMI - Free Report) came out with quarterly earnings of $0.37 per share, beating the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.28 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +19.36%. A quarter ago, it was expected that this oil and natural gas pipeline and storage company would post earnings of $0.38 per share when it actually produced earnings of $0.48, delivering a surprise of +26.32%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Kinder Morgan, which belongs to the Zacks Oil and Gas - Production and Pipelines industry, posted revenues of $4.48 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 4.33%. This compares to year-ago revenues of $4.04 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Kinder Morgan shares have added about 17.8% since the beginning of the year versus the S&P 500's gain of 9.7%.
What's Next for Kinder Morgan?While Kinder Morgan 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 Kinder Morgan 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 $0.33 on $4.42 billion in revenues for the coming quarter and $1.49 on $18.17 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Production and Pipelines is currently in the bottom 11% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Enbridge (ENB - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on July 31.
This oil and natural gas transportation and power transmission company is expected to post quarterly earnings of $0.44 per share in its upcoming report, which represents a year-over-year change of -6.4%. The consensus EPS estimate for the quarter has been revised 1% lower over the last 30 days to the current level.
Enbridge's revenues are expected to be $11.03 billion, up 2.6% from the year-ago quarter.
MERRILLVILLE, Ind.--(BUSINESS WIRE)--NiSource Inc. (NYSE: NI) today announced that the company will release second quarter 2026 financial results on August 5, 2026, before US financial markets open and will host a conference call that day at 11 a.m. EDT (10 a.m. CT) to review second quarter 2026 financial results and provide a general business update. All interested parties may listen to the conference call live on August 5 by logging onto the NiSource website at www.nisource.com. A link on the.
WEST PALM BEACH, FL / ACCESS Newswire / July 22, 2026 / ELEKTROS Inc. announced that its common stock appreciated 23.40% during the trading day as the Company continued executing its strategic initiatives.
Management said it is reviewing a prospective U.S. site for a network of approximately 10 to 15 high-speed electric vehicle charging stations. The location is viewed as promising because of surrounding commercial activity and accessibility, pending all required approvals and agreements.
In Sierra Leone, previously extracted lithium material continues to be organized for potential shipment as the Company advances its long-term resource development strategy.
Chief Executive Officer Shlomo Bleier commented: "We appreciate the continued confidence of our shareholders as we pursue opportunities designed to support sustainable growth."
Forward-Looking Statements
This release contains forward-looking statements subject to risks, uncertainties, and other factors that could cause actual results to differ materially.
July 22, 2026 17:00 ET | Source: Brown & Brown, Inc.
DAYTONA BEACH, Fla., July 22, 2026 (GLOBE NEWSWIRE) -- Brown & Brown, Inc. (NYSE: BRO) announces that the board of directors has declared a regular quarterly cash dividend of $0.165 per share. The dividend is payable on August 19, 2026, to shareholders of record on August 12, 2026.
About Brown & Brown, Inc.
Brown & Brown, Inc. (NYSE: BRO) is a leading insurance brokerage firm delivering comprehensive and customized insurance solutions and specialization since 1939. With a global presence spanning 700+ locations and a team of approximately 23,000 professionals, we are dedicated to delivering scalable, innovative strategies for our customers at every step of their growth journey. Learn more at BBrown.com.
For more information:
R. Andrew Watts
Chief Financial Officer
(386) 239-5770
SAN DIEGO--(BUSINESS WIRE)--Dexcom (NASDAQ: DXCM), the global leader in glucose biosensing, today announced it is the first company selected by the U.S. Food and Drug Administration (FDA) to participate in the Technology-Enabled Meaningful Patient Outcomes (TEMPO) Pilot Program, a first-of-its-kind initiative designed to evaluate innovative digital health technologies that improve chronic disease management while generating real-world evidence. Participation in the TEMPO pilot will allow Dexcom.
CLEVELAND--(BUSINESS WIRE)-- #LEA--Lincoln Electric Holdings, Inc., (Nasdaq: LECO) announced today that its Board of Directors has declared a quarterly cash dividend of $0.79 per common share, payable October 15, 2026, to shareholders of record as of September 30, 2026.About Lincoln ElectricLincoln Electric is a high-performance industrial machinery and technology leader who helps customers manufacture and maintain vital equipment and infrastructure. Lincoln Electric's innovative solutions enable highe.
Chairman Martin Mucci reported a disposition of 9,309 shares of Paychex, Inc. (PAYX -1.09%) on July 17, 2026, according to an SEC Form 4 filing.
Transaction summaryMetricValueShare value$1.1 millionShares gifted9,309Post-transaction shares (directly held)434,891Post-transaction value$49.75 millionKey questionsWhat was the nature of this transaction?
The transaction was a philanthropic gift of 9,309 shares to The Mucci Family Foundation, rather than an open-market sale for personal liquidity.What is the insider's remaining exposure to the company?
Mucci continues to hold about 435,000 shares directly, valued at $49.75 million as of the transaction date, and maintains a substantial number of derivative securities directly.How does this move align with recent share performance?
The transfer occurred following a roughly 20% decline in the company's share price over the previous 12 months as of July 17, 2026.What are the core business operations of the company?
Founded in 1971 and based in Rochester, New York, Paychex provides human capital management solutions, including payroll processing, HR services, and employee benefits administration, primarily for small to medium-sized enterprises.Company OverviewMetricValueShare Price (as of market close 2026-07-20)$115.20Market Capitalization$41.0 billionRevenue (TTM)$6.5 billionNet Income (TTM)$1.8 billionCompany SnapshotPaychex delivers comprehensive human capital management (HCM) solutions, including payroll processing, payroll tax administration, employee benefits administration, and insurance services to its customer base.The software-as-a-service company generates revenue through recurring subscription-based services for payroll and HCM solutions, supplemented by ancillary services such as employee benefits administration and insurance offerings.Paychex primarily serves small to medium-sized enterprises (SMEs) across the United States, Europe, and India, addressing their core human resources and payroll administration requirements.Paychex, Inc. is a market-leading provider of human capital management solutions with a market capitalization of $41.0 billion and TTM revenues of $6.5 billion. The company maintains a diversified service portfolio serving multiple geographies and positioning itself as a critical infrastructure provider for SME payroll and HR operations. Paychex's recurring revenue model and established customer relationships provide a stable financial foundation within the staffing and employment services sector.
What this transaction means for investorsMucci leads the eponymous Mucci Family Foundation, which supports higher education initiatives as well as regional community programs, and gifts like this are often driven by estate and philanthropic planning. It’s also worth noting Mucci still holds about 435,000 shares directly, so the former CEO turned chairman remains one of Paychex's most invested insiders.
The company under him spent the past year growing faster than its stock. Paychex wrapped fiscal 2026 in June with revenue up 17% to $6.51 billion and adjusted earnings per share up 11% to $5.51, absorbing the Paycor acquisition. Then it guided fiscal 2027 to just 5% to 6% revenue growth. CEO John Gibson credited "the successful integration of Paycor to advance our upmarket expansion." For long-term investors, that guidance explains the roughly 20% slide in the shares, but the gift itself says nothing bearish. The decelerating outlook is the thing that actually deserves the scrutiny.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
BLOOMINGTON, Minn.--(BUSINESS WIRE)--The Toro Company Elects President and Chief Operating Officer Edric C. Funk to Succeed Richard M. Olson as Chief Executive Officer.
PulteGroup, Inc. (PHM) Q2 2026 Earnings Call July 22, 2026 8:30 AM EDT
Company Participants
James Zeumer - Vice President of Investor Relations
Ryan Marshall - President, CEO & Director
James Ossowski - Executive VP & CFO
Conference Call Participants
John Lovallo - UBS Investment Bank, Research Division
Richard Reid - Wells Fargo Securities, LLC, Research Division
Matthew Bouley - Barclays Bank PLC, Research Division
Stephen Kim - Evercore ISI Institutional Equities, Research Division
Alan Ratner - Zelman & Associates LLC
Michael Dahl - RBC Capital Markets, Research Division
Anthony Pettinari - Citigroup Inc., Research Division
Trevor Allinson - Wolfe Research, LLC
Jonathan Bettenhausen - Truist Securities, Inc., Research Division
Rafe Jadrosich - BofA Securities, Research Division
Susan Maklari - Goldman Sachs Group, Inc., Research Division
Kenneth Zener - Seaport Research Partners
Ryan Gilbert - BTIG, LLC, Research Division
Presentation
Operator
Thank you for standing by. My name is Jordan, and I'll be your conference operator today. At this time, I'd like to welcome everyone to the PulteGroup, Inc. Q2 2026 Earnings Conference Call. [Operator Instructions]
Thank you. I would now like to turn the call over to Jim Zeumer. Please go ahead.
James Zeumer
Vice President of Investor Relations
Thank you, Jordan. Good morning. I want to welcome everyone to today's call to review PulteGroup's operating and financial results for our second quarter ended June 30, 2026. Joining me on today's call are Ryan Marshall, President and CEO; Jim Ossowski, Executive Vice President and CFO; and David Carrier, Senior VP, Finance.
In advance of this call, a copy of our Q2 earnings release and this morning's webcast presentation have been posted to our corporate website at pultegroup.com. We will also post an audio replay of this call later today. I would highlight that today's presentation includes forward-looking statements about the company's expected future performance. Actual results could differ materially from those suggested by our comments
SAN JOSE, Calif., July 22, 2026 (GLOBE NEWSWIRE) -- QuantumScape Corporation (NASDAQ: QS), a global leader in next-generation solid-state lithium-metal battery technology, today announced its business and financial results for the second quarter of 2026, which ended June 30.
The company posted a letter to shareholders on its Investor Relations website, ir.quantumscape.com, that details second-quarter financial results and provides a business update.
QuantumScape will host a live webcast today at 2 p.m. Pacific Time (5 p.m. Eastern Time), accessible via its IR Events page. Siva Sivaram, chief executive officer, and Kevin Hettrich, chief financial officer, will participate on the call.
An archive of the webcast will be available shortly after the call for 12 months.
About QuantumScape Corporation
QuantumScape is on a mission to revolutionize energy storage to enable a sustainable future. The company’s next-generation batteries are designed to enable greater energy density, faster charging and enhanced safety to support the transition away from legacy energy sources toward a lower carbon future. For more information, visit www.quantumscape.com.
QS stock is moving. Watch the price action here. QuantumScape Q2 Details QuantumScape reported quarterly losses of 16 cents per share, which beat the analyst consensus estimate for losses of 18 cents, according to Benzinga Pro data.
Customer billings came in at $10.8 million for the quarter, representing the total value of invoices issued to customers and partners, regardless of accounting treatment; this metric may fluctuate quarter to quarter as engagement activity progresses.
Capital expenditures totaled $4.6 million for the quarter, driven mainly by investments in the company’s technology roadmap and related facility spending.
For full-year 2026, capex guidance has been lowered to $27 million to $37 million, reflecting tighter capital discipline and cost savings on select projects.
QS Stock Price Activity: According to data from Benzinga Pro, QuantumScape stock fell 4.60% to $5.60 in Wednesday’s extended trading.
Photo: Courtesy QuantumScape
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IRVINE, Calif.--(BUSINESS WIRE)--Boot Barn Holdings, Inc. (NYSE: BOOT) today announced that the company will release its financial results for the first quarter fiscal year 2027 ended June 27, 2026, after the market close on Wednesday, July 29, 2026. Management will host a conference call that afternoon (July 29, 2026) at 4:30 p.m. ET (1:30 p.m. PT) to discuss the financial results. Investors and analysts interested in participating in the call are invited to dial (844) 825-9789 at 4:25 p.m. ET.
, /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers, announced its Board of Directors ("Board") today received an unsolicited, preliminary and non-binding proposal ("Proposal") from Penske Corporation ("PC") and Mitsui & Co., Ltd. ("Mitsui") to acquire the remaining shares of the Company's common stock that they and their affiliates do not currently own for cash consideration of $210 per share. PC and Mitsui and their affiliates currently beneficially own collectively 72.6% of the Company's outstanding common stock. A copy of the Proposal is available as an exhibit to the Company's Current Report on Form 8-K which will be publicly filed today with the Securities and Exchange Commission.
The Board has established a special committee comprised of disinterested and independent directors to review and consider the Proposal. The special committee is authorized to retain advisors, including independent legal and financial advisors, to assist it in its work. There can be no assurance as to whether an agreement relating to any proposed transaction will be reached or as to the terms thereof if an agreement is reached. The Company does not intend to comment further or disclose any developments regarding the Proposal unless and until it deems further disclosure is appropriate or required. The Company's shareholders do not need to take any action at this time.
About Penske Automotive
Penske Automotive Group, Inc., (NYSE: PAG) headquartered in Bloomfield Hills, Michigan, is a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers. PAG operates dealerships in the United States, the United Kingdom, Canada, Germany, Italy, Japan, and Australia and is one of the largest retailers of commercial trucks in North America for Freightliner. PAG also distributes and retails commercial vehicles, diesel and gas engines, power systems, and related parts and services principally in Australia and New Zealand. PAG employs over 28,800 people worldwide. Additionally, PAG owns 28.9% of Penske Transportation Solutions ("PTS"), a business that employs nearly 41,000 people worldwide, manages one of the largest, most comprehensive and modern trucking fleets in North America with over 387,500 trucks, tractors, and trailers under lease, rental, and/or maintenance contracts and provides innovative transportation, supply chain, and technology solutions to its customers. PAG is a member of the S&P Mid Cap 400, Fortune 500, Russell 1000, and Russell 3000 indexes. For additional information, visit the Company's website at www.penskeautomotive.com.
Caution Concerning Forward Looking Statements
Statements in this press release may involve forward-looking statements, including forward-looking statements regarding Penske Automotive Group, Inc.'s financial performance, expectations, and future plans. Actual results may vary materially because of risks and uncertainties that are difficult to predict. These risks and uncertainties include, among others, whether and on what terms any transaction will be consummated, those related to macro-economic, geo-political and industry conditions and events, including their impact on sales of new and used vehicles, service and parts, and repair and maintenance services, the availability of consumer credit, changes in consumer demand, consumer confidence levels, fuel prices, demand for trucks to move freight with respect to Penske Transportation Solutions ("PTS") and Premier Truck Group, and other freight metrics such as spot rates or miles driven, personal discretionary spending levels, interest rates, foreign currency exchange rates, and unemployment rates; our ability to obtain vehicles and parts from our manufacturers, especially in light of supply chain disruptions due to natural disasters, tariffs and non-tariff trade barriers, any shortages of vehicle components, international conflicts, challenges in sourcing labor, labor strikes, work stoppages, or other disruptions; the control our manufacturer partners can exert over our operations and our reliance on them for various aspects of our business; risks to our reputation and those of our manufacturer partners; changes in the retail model from direct sales by manufacturers, a transition to an agency model of sales, sales by online competitors, or from the expansion of electric vehicles; disruptions to the security and availability of our information technology systems and those of our third party providers, which systems are increasingly threatened by ransomware and other cyber-attacks; the effects of a pandemic on the global economy, including our ability to react effectively to changing business conditions in light of any pandemic; the impact of tariffs targeting imported vehicles and parts, as well as changes or increases in tariffs, trade restrictions, trade disputes, or non-tariff trade barriers; the rate of inflation, including its impact on vehicle affordability; our ability to consummate, integrate, and realize returns on our acquisitions; with respect to PTS, changes in the financial health of its customers, labor strikes, or work stoppages by its employees, a reduction in PTS' asset utilization rates, the cost of acquiring and the continued availability from truck manufacturers and suppliers of vehicles and parts for its fleet, including with respect to the effect of various regulations concerning its vehicle fleet, changes in values of used trucks which affects PTS' profitability on truck sales and regulatory risks and related compliance costs, our ability to realize returns on our significant capital investments in new and upgraded dealership facilities; our ability to navigate a rapidly changing automotive and truck landscape; our ability to respond to new or enhanced regulations in both our domestic and international markets relating to dealerships and vehicle sales, including those related to the sales process, emissions standards, or electrification; the success of our distribution of commercial vehicles, engines, and power systems; natural disasters; recall initiatives or other disruptions that interrupt the supply of vehicles or parts to us; risks and uncertainties relating to an unsolicited, preliminary and non-binding take private proposal received from Penske Corporation and Mitsui & Co., Ltd. and their affiliates to acquire all of the shares of the Company not already owned by them, including the possibility that any such transaction may not be pursued, approved, or consummated on the proposed terms, within any anticipated timeframe, or at all; the outcome of legal and administrative matters and other factors over which management has limited control. These forward-looking statements should be evaluated together with additional information about Penske Automotive Group's business, markets, conditions, risks, and other uncertainties, which could affect Penske Automotive Group's future performance. The risks and uncertainties discussed above are not exhaustive and additional risks and uncertainties are addressed in Penske Automotive Group's Form 10-K for the year ended December 31, 2025, its Form 10-Q for the quarterly period ended March 31, 2026, and its other filings with the Securities and Exchange Commission. This press release speaks only as of its date, and Penske Automotive Group disclaims any duty to update the information herein.
, /PRNewswire/ -- Resideo Technologies, Inc. (NYSE: REZI), a leading global manufacturer, developer, and distributor of technology-driven sensing and controls products and solutions for residential and commercial end-markets, will release second quarter 2026 financial results after the close of the New York Stock Exchange on Wednesday, August 12, 2026. A webcast to discuss the results will be held on Wednesday, August 12, 2026, at 5:00 p.m. EDT.
About Resideo
Resideo is a leading global manufacturer, developer, and distributor of technology-driven sensing and controls products and solutions for residential and commercial end-markets. We are a leader in the home heating, ventilation, and air conditioning controls markets, smoke and carbon monoxide detection home safety and fire suppression products markets, and security products markets. Our solutions and services can be found in over 150 million residential and commercial spaces globally, with tens of millions new devices sold annually. For more information about Resideo and our trusted, well-established brands including First Alert, Honeywell Home, BRK, Control4, and others, visit www.resideo.com.
MINNEAPOLIS--(BUSINESS WIRE)--Graco Inc. (NYSE: GGG) today announced results for the second quarter ended June 26, 2026. Summary $ in millions except per share amounts Three Months Ended Six Months Ended Jun 26, 2026 Jun 27, 2025 % Change Jun 26, 2026 Jun 27, 2025 % Change Net Sales $ 590.6 $ 571.8 3 % $ 1,130.7 $ 1,100.1 3 % Operating Earnings 175.1 157.5 11 % 312.9 301.5 4 % Net Earnings 144.9 127.6 14 % 263.4 251.7 5 % Diluted Net.
July 22, 2026 16:30 ET | Source: Enovix Corporation
FREMONT, Calif., July 22, 2026 (GLOBE NEWSWIRE) -- Enovix Corporation (Nasdaq: ENVX) (“Enovix”), a developer and manufacturer of advanced lithium-ion batteries, including proprietary silicon-anode architectures, today announced it will report financial results for the second quarter of 2026 on Wednesday, August 12, 2026, after the close of the market.
Enovix will hold a live audio-only call at 2:00 PM PT / 5:00 PM ET on August 12, 2026, to discuss the company’s recent business updates, commercialization progress, operational milestones, and financial results. To join the call, participants must use the following link to register: https://enovix-q2-2026.open-exchange.net/ This link will also be available via the Investor Relations section of Enovix’s website at https://ir.enovix.com. Investors may submit questions on the registration page that they would like addressed on the call by Enovix management.
About Enovix
Enovix develops and manufactures advanced lithium-ion batteries, including proprietary silicon-anode architectures for smartphones, smart eyewear, defense, industrial and emerging edge-AI applications. Its silicon-anode architecture enables higher energy density and performance in space-constrained devices while maintaining safety and reliability, supporting commercialization across consumer and industrial markets.
Enovix is headquartered in Silicon Valley with facilities in India, South Korea and Malaysia, serving customers globally. For more information visit https://enovix.com and follow us on LinkedIn.
, /PRNewswire/ -- Azenta, Inc. (Nasdaq: AZTA) will announce fiscal third quarter 2026 earnings which ended on June 30, 2026, on Tuesday, August 4, 2026, after the market closes.
The Company will host a conference call and live webcast to discuss its financial results the following day, Wednesday, August 5, 2026, at 8:30 a.m. Eastern Time. Analysts, investors and members of the media can access the live webcast via the Azenta website at https://investors.azenta.com/events. A replay will be available beginning at 8:30 a.m. ET on August 6, 2026.
About Azenta Life Sciences
Azenta, Inc. (Nasdaq: AZTA) is a leading provider of life sciences solutions worldwide, enabling impactful breakthroughs and therapies to market faster. Azenta provides a full suite of reliable cold-chain sample management solutions and multiomics services across areas such as drug development, clinical research and advanced cell therapies for the industry's top pharmaceutical, biotech, academic and healthcare institutions globally. Our global team delivers and supports these products and services through our industry-leading brands, including GENEWIZ, FluidX, Ziath, 4titude, Limfinity, Freezer Pro, and Barkey.
Azenta is headquartered in Burlington, MA, with operations in North America, Europe and Asia. For more information, please visit www.azenta.com.
NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, reminds investors about a class action lawsuit on behalf of purchasers of securities of Calix, Inc. (NYSE: CALX) between January 28, 2026 and April 21, 2026 (the “Class Period”). Calix engages in the provision of cloud and software programs, and systems and services.For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.The Allegations: Rosen Law Firm is Investigating the All.
WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Calix, Inc. (NYSE: CALX) between January 28, 2026 and April 21, 2026, inclusive (the “Class Period”), of the important July 27, 2026 lead plaintiff deadline.
SO WHAT: If you purchased Calix securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Calix class action, go to https://rosenlegal.com/cases/calix-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 27, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Calix’s first quarter margins had significantly benefited from advanced purchasing of memory components; (2) Calix’s advanced supply of memory components was dwindling; (3) as a result, Calix was experiencing negative margin pressure as it was forced to purchase memory components at rising market prices; and (4) as a result of the foregoing, defendants’ positive statements about Calix’s margins, business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the Calix class action, go to https://rosenlegal.com/cases/calix-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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Attorney Advertising. Prior results do not guarantee a similar outcome.
-------------------------------
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827 [email protected]
www.rosenlegal.com
MENLO PARK, Calif.--(BUSINESS WIRE)--TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) (the “Company”), a leading financing provider to venture growth stage companies backed by a select group of venture capital firms in technology and other high growth industries, today announced it will release its financial results for its second quarter ended June 30, 2026 after market-close on Wednesday, August 5, 2026. James P. Labe, chief executive officer and chairman of the board, Sajal K. Srivastava, p.
REDWOOD CITY, Calif., July 22, 2026 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a late-stage clinical oncology company developing targeted therapies for patients with RAS-addicted cancers, today announced that the U.S. Food and Drug Administration (FDA) accepted for review the company’s New Drug Application (NDA) for daraxonrasib, an oral RAS(ON) multi-selective inhibitor, for previously treated metastatic pancreatic ductal adenocarcinoma (PDAC).
“The FDA’s acceptance of the daraxonrasib NDA is an important step in the regulatory review process and brings us closer to the possibility of offering patients a new targeted medicine for previously treated metastatic pancreatic cancer,” said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines. “Daraxonrasib is an oral targeted medicine designed to inhibit RAS, the main cause of pancreatic cancer, and the application is supported by unprecedented results from the Phase 3 RASolute 302 trial. These findings underscore the potential for daraxonrasib to become a new standard of care and to help define a new class of RAS‑targeted medicines for this disease. We look forward to continuing to work closely with the FDA as the agency reviews the application, and with other global regulatory authorities as we advance our efforts to bring daraxonrasib to patients as quickly as possible.”
The NDA is based on results from the global, randomized Phase 3 RASolute 302 trial, evaluating daraxonrasib versus standard of care cytotoxic chemotherapy in patients with previously treated metastatic PDAC, with or without an identified tumor RAS mutation. The trial met all primary and key secondary endpoints, including unprecedented improvements in overall survival and progression-free survival. In addition, daraxonrasib exhibited a manageable safety profile and patients treated with daraxonrasib reported significantly delayed deterioration in cancer-related pain, overall global health status and quality of life, compared to those treated with chemotherapy. Results from the RASolute 302 trial were presented at the 2026 American Society of Clinical Oncology Annual Meeting with simultaneous publication in The New England Journal of Medicine.
Daraxonrasib was selected for the FDA Commissioner’s National Priority Voucher pilot program, which is designed to accelerate the review of medicines that address key national health priorities. The FDA previously granted daraxonrasib Breakthrough Therapy Designation and Orphan Drug Designation for the treatment of patients with previously treated metastatic PDAC.
The Company recently announced that the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use has begun a phased review of daraxonrasib, allowing data to be evaluated as they become available before submission of a full marketing authorization application. Daraxonrasib has also received orphan medicine designation for the treatment of pancreatic cancer, and high-priority status under EMA’s Cancer Medicines Pathfinder project based on its potential to address a significant unmet need.
About Pancreatic Cancer and Pancreatic Ductal Adenocarcinoma
Pancreatic cancer is one of the most lethal malignancies, characterized by its typically late-stage diagnosis, resistance to standard chemotherapy, and high mortality rate. In the U.S., recent estimates indicate that annually approximately 60,000 people will be diagnosed with pancreatic cancer, and about 50,000 people will die from this aggressive disease.1 Due to the lack of early symptoms and detection methods, most patients are diagnosed with pancreatic ductal adenocarcinoma (PDAC) at an advanced or metastatic stage. Metastatic PDAC remains one of the most common causes of cancer-related deaths in the U.S., with a five-year survival rate of approximately 3%.2,3
About Daraxonrasib
Daraxonrasib is an investigational, oral RAS(ON) multi-selective, noncovalent tri-complex inhibitor that works by suppressing RAS signaling through inhibition of the interaction between both wild-type and mutant RAS(ON) proteins and their downstream effectors. It is designed to target cancers driven by a broad range of common RAS genotypes, including pancreatic ductal adenocarcinoma (PDAC), non-small cell lung cancer (NSCLC), and colorectal cancer. Daraxonrasib is being advanced through a global Phase 3 registrational program comprising four trials, including the completed RASolute 302 trial and three additional trials in patients with PDAC and metastatic RAS mutant NSCLC.
About the RASolute 302 Clinical Trial
RASolute 302 (NCT06625320) is a global, randomized Phase 3 registrational clinical trial designed to evaluate the efficacy and safety of daraxonrasib as a monotherapy in patients with previously treated metastatic pancreatic ductal adenocarcinoma (PDAC). In the trial, patients were randomized to receive either an oral dose of 300 mg daraxonrasib once daily or investigator’s choice of four different cytotoxic chemotherapy regimens, which represent standard of care across the globe. The trial enrolled patients with metastatic PDAC harboring a wide range of RAS variants, including those with RAS G12 mutations (such as G12D, G12V, and G12R), as well as patients without an identified tumor RAS mutation (wild type).
The primary endpoints of the RASolute 302 trial were progression-free survival (PFS), as assessed by a Blinded Independent Central Review according to RECIST 1.1, and overall survival (OS) in patients with tumors harboring RAS G12 mutations. Secondary endpoints included PFS and OS in all enrolled patients (the intent-to-treat population) encompassing patients with and without identified tumor RAS mutations, as well as objective response rate, duration of response, and patient-reported quality of life.
About Revolution Medicines, Inc.
Revolution Medicines is a company developing novel targeted therapies for patients with RAS-addicted cancers. The company’s R&D pipeline comprises RAS(ON) inhibitors designed to suppress diverse oncogenic variants of RAS proteins. The company’s RAS(ON) inhibitors daraxonrasib (RMC-6236), a RAS(ON) multi-selective inhibitor; elironrasib (RMC-6291), a RAS(ON) G12C-selective inhibitor; zoldonrasib (RMC-9805), a RAS(ON) G12D-selective inhibitor; and RMC-5127, a RAS(ON) G12V-selective inhibitor, are currently in clinical development. Additional development opportunities in the company’s pipeline focus on RAS(ON) mutant-selective inhibitors, including RMC-0708 (Q61H) and RMC-8839 (G13C). For more information, please visit www.revmed.com and follow us on LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered “forward-looking statements,” including without limitation statements regarding the broad potential of RAS(ON) inhibition and the potential for a new class of RAS-targeted therapy to emerge; treatment practices for pancreatic cancer and the potential for daraxonrasib to become a standard of care; the company’s regulatory interactions; the company’s ability to bring daraxonrasib to patients; and progression of clinical studies and findings from these studies, including the tolerability, safety, and potential efficacy of the company’s candidates being studied.
Forward-looking statements are typically, but not always, identified by the use of words such as “aims,” “anticipate,” "believe," "estimate," "expect," "plan," “potential,” “project,” “up to,” "will" and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause the company’s development programs, future results, performance, or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including the company’s programs’ development stages, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, the company’s ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of the company’s capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape, and the effects on the company’s business of the global events, such as international conflicts or global pandemics. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines’ Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on May 6, 2026, and its future periodic reports to be filed with the SEC. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances, or to reflect the occurrence of unanticipated events.
References
1 Siegel RL, Giaquinto AN, Jemal A. Cancer statistics, 2024. CA Cancer J Clin. 2024;74(1):12-49. doi:10.3322/caac.21820
2 Halbrook CJ, Lyssiotis CA, Pasca di Magliano M, Maitra A. Pancreatic cancer: Advances and challenges. Cell. 2023;186(8):1729-1754. doi:10.1016/j.cell.2023.02.014
3 American Cancer Society. Survival Rates for Pancreatic Cancer. Available at: https://www.cancer.org/cancer/types/pancreatic-cancer/detection-diagnosis-staging/survival-rates.html. Accessed July 2026.
LAKE FOREST, Ill.--(BUSINESS WIRE)--Packaging Corporation of America (NYSE: PKG) today reported second quarter 2026 net income of $192 million, or $2.15 per share, and net income of $210 million, or $2.35 per share, excluding special items. Second quarter net sales were $2.5 billion in 2026 and $2.2 billion in 2025. Diluted earnings per share attributable to Packaging Corporation of America shareholders Three Months Ended June 30, 2026 2025 Change .
CINCINNATI, July 22, 2026 (GLOBE NEWSWIRE) -- Hillman Solutions Corp. (Nasdaq: HLMN) (the "Company", “Hillman Group”, or "Hillman"), a leading provider of hardware and related products, announced the closing of the refinancing of its existing credit facilities, consisting of a new $735 million senior secured Term Loan B ("Term Loan B") and a $375 million asset-based revolving credit facility ("ABL Revolver").
Proceeds from the Term Loan B were primarily used to refinance the Company's existing term loan, repay amounts outstanding under its existing revolving credit facility, and pay related fees and expenses.
The Term Loan B matures in July 2033 and is currently priced at SOFR +200 basis points. The ABL Revolver, which currently has a zero balance, matures in July 2031 and is currently priced at SOFR +125 basis points. The pricing of both the Term Loan B and the ABL Revolver are consistent with the previous credit facilities.
"This refinancing meaningfully extends our debt maturity profile and enhances our financial flexibility,” said Jon Michael Adinolfi, Chief Executive Officer of Hillman. "It reflects the continued strength of our business and positions us well to invest in our core operations and pursue value-creating growth opportunities. These transactions give us a capital structure that supports our long-term strategic priorities including acquisitions."
Jefferies Finance LLC acted as Lead Left Arranger for the Term Loan B with U.S. Bank, BofA Securities, PNC Capital Markets LLC, and Fifth Third Bank, N.A. acting as Joint Lead Arrangers, and First Financial Bank also participating in the syndicate.
U.S. Bank acted as lead arranger and administrative agent for the ABL Revolver, with Bank of America, N.A., PNC Bank N.A., and Fifth Third Bank, N.A. acting as Joint Lead Arrangers, and First Financial Bank also participating in the syndicate.
About Hillman Solutions Corp.
Founded in 1964 and headquartered in Cincinnati, Hillman is a leading provider of hardware and related products serving retail, pro distribution, and industrial MRO customers. Over the last 60-plus years, Hillman has built a legacy of service and growth by forming strategic partnerships with North America's leading home improvement, hardware, and farm and fleet retailers. Hillman differentiates itself from the competition with its dedicated field sales team of 1,200+ associates, direct-to-store distribution capabilities, and world class global sourcing and supply chain expertise. The company offers an extensive product portfolio of more than 111,000 SKUs, including fasteners (power screws, nuts, bolts), hardware (builder's hardware, door hardware, rope & chain, accessories), project gear & supplies (gloves, work gear, paint & cleaning sundries), and key and engraving services (key duplication, auto keys, and engraving). Hillman is committed to delivering exceptional customer service, innovative products, and dependable solutions to its customers and regularly earns vendor of the year recognition from top customers. For more information on Hillman, visit www.hillman.com.
Forward-Looking Statements
All statements made in this press release that are considered to be forward-looking are made in good faith by the Company and are intended to qualify for the safe harbor from liability established by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. You should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," “target”, “goal”, "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations with respect to future performance and statements relating to the Transaction, which may not be consummated on the terms described in this press release, or at all. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside the Company's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) unfavorable economic conditions that may affect our and our customers’, suppliers’ and other business partners’ operations, financial condition and cash flows including spending on home renovation or construction projects, inflation, recessions, instability in the financial markets or credit markets; (2) increased supply chain costs, including tariffs, raw materials, sourcing, transportation and energy; (3) the highly competitive nature of the markets that we serve; (4) the ability to continue to innovate with new products and services; (5) seasonality; (6) large customer concentration; (7) the ability to recruit and retain qualified employees; (8) the outcome of any legal proceedings that may be instituted against the Company; (9) adverse changes in currency exchange rates; or (10) regulatory changes and potential legislation that could adversely impact financial results. The foregoing list of factors is not exclusive, and readers should also refer to those risks that are included in the Company’s filings with the Securities and Exchange Commission (“SEC”), including the Annual Report on Form 10-K filed on February 17, 2026. Given these uncertainties, current or prospective investors are cautioned not to place undue reliance on any such forward-looking statements.
Except as required by applicable law, the Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements in this communication to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
Contact:
Michael Koehler
Vice President – Corporate Development, Investor Relations, Treasury
513-826-5495 [email protected]
, /PRNewswire/ -- Fulton Financial Corporation (NASDAQ: FULT) ("Fulton" or the "Corporation") reported net income available to common shareholders of $99.9 million, or $0.52 per diluted share, for the second quarter of 2026, an increase of $7.7 million, or $0.01 per diluted share, in comparison to the first quarter of 2026. Operating net income available to common shareholders for the three months ended June 30, 2026 was $115.9 million(1), or $0.60 per diluted share(1), an increase of $16.2 million, or $0.05 per diluted share, in comparison to the first quarter of 2026.
FFC Net income available to common shareholders for the six months ended June 30, 2026 was $192.1 million, or $1.02 per diluted share, an increase of $5.0 million, and unchanged on a per diluted share basis, in comparison to the six months ended June 30, 2025. Operating net income available to common shareholders for the six months ended June 30, 2026, was $215.5 million(1), or $1.15 per diluted share(1), an increase of $19.4 million, or $0.08 per diluted share, in comparison to the six months ended June 30, 2025.
"During the quarter, we achieved record financial results and successfully completed the acquisition of Blue Foundry Bancorp," said Curtis J. Myers, Fulton Chairman, CEO, and President. "With the successful integration of Blue Foundry Bank already occurring earlier this month, we are well positioned to deepen existing relationships and drive growth in this expanded footprint. Our ongoing strong performance is due to high demand for our community banking approach and the commitment of our dedicated team members to making banking personal. Our sustained focus on executing our strategic priorities is creating long-term value for our shareholders."
Blue Foundry Bancorp Transaction(2)
On April 1, 2026, the Corporation completed its acquisition of Blue Foundry Bancorp and Blue Foundry Bank became a wholly owned subsidiary of the Corporation. On July 11, 2026, Blue Foundry Bank merged with and into Fulton Bank. As a result of the Blue Foundry Bancorp Transaction, the Corporation acquired total assets with preliminary fair values of approximately $2.1 billion including total loans with a preliminary fair value of approximately $1.6 billion and investments with a fair value of $226.5 million. The Corporation assumed total liabilities with a fair value of $1.8 billion including total deposits with a fair value of $1.5 billion and borrowings with a fair value of $276.0 million. Financial Highlights
Second quarter of 2026 operating results of $0.60 per diluted share(1) were impacted by the following items:
Net interest margin remained solid at 3.60%, representing a two basis point increase from the prior quarter. Non-interest income increased $9.5 million to $79.3 million compared to $69.8 million in the prior quarter. Non-interest expense increased $30.7 million to $231.0 million compared to $200.3 million in the prior quarter. Operating non-interest expense increased $19.9 million to $210.6 million(1) compared to $190.7 million in the prior quarter. Provision for credit losses was $4.9 million resulting in an allowance for credit losses attributable to net loans of $382.6 million, or 1.48% of total net loans as of June 30, 2026. The initial allowance for credit losses on loans acquired in the Blue Foundry Bancorp Transaction was $31.0 million. Common equity tier 1 capital ratio(3) increased to approximately 12.1% compared to 11.9% in the prior quarter. During the second quarter of 2026, 525,000 shares of the Corporation's common stock were repurchased under the 2026 Repurchase Program(4) at a cost of $11.1 million or an average of $21.19 per share. As of June 30, 2026, the Corporation repurchased $35.6 million of common stock under the 2026 Repurchase Program. The following items highlight notable changes in the components of net income in the second quarter of 2026 compared to the first quarter of 2026:
Net interest income increased $22.2 million to $284.3 million driven by a $17.5 million increase attributable to the Blue Foundry Bancorp Transaction. A $32.6 million increase in interest income on net loans, a $2.9 million increase in interest income on investment securities and a $2.6 million increase in interest income in other interest-earning assets were partially offset by a $10.9 million increase in interest expense on deposits and a $4.9 million increase in interest expense on borrowings and other interest-bearing liabilities. Purchase loan mark accretion from loans acquired in the Republic Transaction(5) was $9.9 million in the second quarter of 2026 compared to $10.3 million in the prior quarter. Purchase loan mark accretion from loans acquired in the Blue Foundry Bancorp Transaction was $5.2 million in the second quarter of 2026. Interest expense on borrowings and other interest-bearing liabilities included approximately $2.4 million from the Corporation's $195.0 million aggregate principal amount of outstanding 3.250% Fixed-to-Floating Rate Subordinated Notes due 2030 that were redeemed on June 15, 2026. Non-interest income before investment securities gains (losses) was $79.3 million compared to $69.8 million in the prior quarter. The $9.5 million increase was primarily attributable to a $7.3 million increase in income from equity method investments, reflected in other income, that included $6.9 million of income recognized from an equity method investment that was sold during the quarter. Compared to the prior quarter, mortgage banking income increased by $1.0 million. Non-interest expense was $231.0 million compared to $200.3 million in the prior quarter. The $30.7 million increase was primarily due to an $11.2 million increase in acquisition-related expenses and a $10.3 million increase in salaries and employee benefits expense driven by a $6.2 million increase as a result of the Blue Foundry Bancorp Transaction and a $3.5 million increase in incentive compensation expense. Increases of $2.2 million and $1.8 million in other outside services expense and data processing and software expense, respectively, were primarily driven by the Blue Foundry Bancorp Transaction. Other non-interest expense for the second quarter of 2026 included a $2.1 million charge incurred related to merging two employee pension plans and $0.8 million of debt extinguishment costs. Balance Sheet Summary
Total net loans increased $1.7 billion to $25.9 billion compared to $24.3 billion as of March 31, 2026. The increase was primarily due to a $1.6 billion increase in loans, based on preliminary fair values, as a result of the Blue Foundry Bancorp Transaction. Excluding the Blue Foundry Bancorp Transaction, net loans increased $102.6 million with an increase of $206.9 million in consumer loans(6), partially offset by a decrease of $104.3 million in commercial loans(6). Deposits totaled $28.3 billion, a $1.5 billion increase compared to $26.8 billion as of March 31, 2026. The increase was primarily due to a $1.2 billion increase in deposits as a result of the Blue Foundry Bancorp Transaction. Excluding the Blue Foundry Bancorp Transaction, net deposits increased $249.2 million due to increases of $257.4 million in brokered deposits, $189.4 million in savings deposits and $76.4 million in time deposits, partially offset by decreases of $155.6 million in interest-bearing demand deposits and $118.5 million in noninterest-bearing demand deposits. On May 5, 2026, the Corporation issued $300.0 million aggregate principal amount of 5.950% Fixed-to-Floating Rate Subordinated Notes due 2036. On June 15, 2026, the Corporation redeemed $195.0 million aggregate principal amount of outstanding 3.250% Fixed-to-Floating Rate Subordinated Notes due 2030. Provision for Credit Losses and Asset Quality
The provision for credit losses totaled $4.9 million in the second quarter of 2026 compared to $14.4 million in the first quarter of 2026. The allowance for credit losses attributable to net loans was $382.6 million, or 1.48% of total net loans as of June 30, 2026, compared to $367.5 million, or 1.51% of total net loans as of March 31, 2026. The increase was largely due to a $28.7 million increase in the allowance for credit losses as a result of the Blue Foundry Bancorp Transaction. Non-performing assets were $187.1 million, or 0.54% of total assets, as of June 30, 2026, in comparison to $177.5 million, or 0.55% of total assets, as of March 31, 2026. Non-performing assets include $16.4 million from the Blue Foundry Bancorp Transaction. Annualized net charge-offs for the second quarter of 2026 were 0.34% of total average loans in comparison to 0.25% in the prior quarter. Additional information on Fulton is available at www.fultonbank.com.
(1)
Financial measure derived by methods other than generally accepted accounting principles ("GAAP"). Refer to the calculation on the page titled "Reconciliation of Non-GAAP Measures" at the end of the press release.
(2)
On April 1, 2026, the Corporation completed its previously announced acquisition of Blue Foundry Bancorp (the "Blue Foundry Bancorp Transaction"). Following the Blue Foundry Bancorp Transaction, Blue Foundry Bank, a New Jersey-chartered stock savings bank and wholly owned subsidiary of Blue Foundry Bancorp, operated as a separate, wholly owned subsidiary of the Corporation until Blue Foundry Bank merged with and into the Corporation's wholly owned subsidiary Fulton Bank, National Association ("Fulton Bank") on July 11, 2026, with Fulton Bank continuing as the surviving bank.
(3)
Regulatory capital ratios as of June 30, 2026 are preliminary estimates and prior periods are actual.
(4)
The 2026 Repurchase Program represents the authorization, commencing on January 1, 2026 and expiring on January 31, 2027, to repurchase up to $150 million, excluding fees, commissions, excise tax and other ancillary expenses, of the Corporation's common stock. Under this authorization, up to $25 million of the $150 million authorization may be used to repurchase the Corporation's preferred stock, outstanding subordinated notes due 2030 or outstanding subordinated notes due 2035. As permitted by securities laws and other legal requirements and subject to market conditions and other factors, purchases may be made from time to time under the 2026 Repurchase Program in open market or privately negotiated transactions, including without limitation, through accelerated share repurchase transactions. The 2026 Repurchase Program may be discontinued at any time.
(5)
On April 26, 2024, Fulton Bank acquired substantially all of the assets and assumed substantially all of the deposits and certain liabilities of Republic First Bank, doing business as Republic Bank ("Republic Bank"), from the Federal Deposit Insurance Corporation (the "FDIC"), as receiver for Republic Bank (the "Republic Transaction"), pursuant to the terms of the Purchase and Assumption Agreement - Whole Bank, All Deposits, effective as of April 26, 2024 among the FDIC, as receiver of Republic Bank, the FDIC and Fulton Bank.
(6)
Commercial loans, excluding those acquired in the Blue Foundry Bancorp Transaction, include decreases of $54.9 million in commercial and industrial loans, $29.7 million in commercial construction loans, reflected in real estate - construction, $18.8 million in real estate - commercial mortgage loans and $1.0 million in leases and other loans. Consumer loans, excluding those acquired in the Blue Foundry Bancorp Transaction, include increases of $132.3 million in real estate - residential mortgage loans, $48.7 million in real estate - home equity loans, $20.9 million in residential construction loans, reflected in real estate - construction and $5.0 million in consumer loans.
Note: Some numbers contained in this document may not sum due to rounding.
Forward-Looking Statements
This press release may contain forward-looking statements with respect to the Corporation's financial condition, results of operations and business. Forward-looking statements are any statement that does not relate to historical or current facts and can be identified by the use of words such as "may," "should," "will," "could," "estimates," "predicts," "potential," "continue," "anticipates," "believes," "plans," "expects," "future," "intends," "projects," the negative of these terms and other comparable terminology. These forward-looking statements may include projections of, or guidance on, the Corporation's future financial performance, expected levels of future expenses, including future credit losses, anticipated growth strategies, descriptions of new business initiatives and anticipated trends in the Corporation's business or financial results.
Forward-looking statements are neither historical facts, nor assurance of future performance. Instead, the statements are based on current beliefs, expectations and assumptions regarding the future of the Corporation's business, plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Corporation's control, and actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not unduly rely on any of these forward-looking statements. Any forward-looking statement is based only on information currently available and speaks only as of the date when made. The Corporation undertakes no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Numerous factors could cause the Corporation's actual results to differ materially from those described in the forward-looking statements, including, but not limited to, the following: the impact of adverse conditions in the economy and financial markets; trade policies and the imposition of tariffs and retaliatory tariffs; the impacts of events affecting the financial services industry; the effects of actions by the federal government, including those of the Board of Governors of the Federal Reserve System and other government agencies, that impact the money supply and market interest rates; the effects of market interest rates and the relative balances of interest rate-sensitive assets to interest rate-sensitive liabilities on net interest margin and net interest income; the composition of the Corporation's loan portfolio and potential exposure to increased credit risk; the effects of changes in interest rates; investment securities gains and losses, including declines in the fair value of securities; disruptions in liquidity markets; capital and liquidity strategies; the Corporation's ability to generate capital internally or raise capital on favorable terms; the effects of competition; possible goodwill impairment charges; the impact of operational risks; the loss of, or failure to safeguard, confidential or proprietary information; the Corporation's failure to identify and promptly address cybersecurity risks; the impact of failures of the Corporation's third-party vendors to perform in accordance with contractual arrangements; the effects of concerns about other financial institutions on the Corporation; potential losses in connection with repurchase and indemnification payments related to sold loans; the effects of climate change on the Corporation's business and results of operations; the effects of increases in non-performing assets; the determination of the allowance for credit losses; the effects of the extensive level of regulation and supervision to which the Corporation and Fulton Bank are subject; changes in law, regulation and government policy; the continuing impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act; potential negative consequences resulting from regulatory violations, investigations and examinations; the effects of adverse outcomes in litigation and governmental or administrative proceedings; the effects of changes in U.S. federal, state or local tax laws; the effects of the significant amounts of time and expense associated with regulatory compliance and risk management; the Corporation's ability to realize anticipated reductions in non-interest expense and increases in revenue from strategic initiatives implemented from time to time; risks related to the acquisition of Blue Foundry Bancorp; completed and potential future acquisitions may affect costs and the Corporation may not be able to successfully integrate the acquired business or realize the anticipated benefits from such acquisitions; geopolitical conditions, including acts or threats of terrorism, actions taken by the United States or other governments in response to acts or threats of terrorism, military conflicts, wars and other international hostilities; public health crises and pandemics; the Corporation's ability to achieve its growth plans; the Corporation's ability to attract and retain talented personnel; the effects of competition from financial service companies and other companies offering bank services; the Corporation's ability to keep pace with technological changes; the Corporation's reliance on its subsidiaries for substantially all of its revenues; and the effects of negative publicity on the Corporation's reputation. For additional information about factors that could cause actual results to differ materially from those described in forward-looking statements, refer to the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Corporation's Annual Report on Form 10-K for the year ended December 31, 2025, Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 and other current and periodic reports, which have been, or will be, filed with the Securities and Exchange Commission (the "SEC") and are, or will be, available in the Investor Relations section of the Corporation's website (www.fultonbank.com) and on the SEC's website (www.sec.gov).
Non-GAAP Financial Measures
The Corporation uses certain financial measures in this press release that have been derived from methods other than GAAP. These non-GAAP financial measures are reconciled to the most comparable GAAP measures in tables at the end of this press release.
FULTON FINANCIAL CORPORATION
SUMMARY CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED)
(dollars in thousands, except per share and shares data)
Three months ended
Jun 30
Mar 31
Dec 31
Sep 30
Jun 30
2026
2026
2025
2025
2025
Ending Balances
Investment securities(1)
$ 5,122,759
$ 4,861,967
$ 4,833,744
$ 5,045,270
$ 5,093,027
Net loans
25,934,293
24,266,345
24,144,884
24,041,489
24,012,539
Total assets
34,556,720
32,237,438
32,118,400
31,995,086
32,040,448
Deposits
28,250,342
26,768,335
26,589,407
26,332,490
26,138,067
Shareholders' equity
3,815,813
3,505,283
3,490,447
3,413,598
3,329,246
Average Balances
Investment securities(1)
4,983,015
4,785,276
4,921,669
5,025,072
5,084,371
Net loans
25,883,823
24,225,655
24,053,089
24,020,322
23,899,743
Total assets
34,193,608
31,999,228
32,013,163
31,924,038
31,901,574
Deposits
28,014,666
26,451,094
26,537,659
26,298,680
26,125,602
Shareholders' equity
3,788,421
3,543,911
3,464,539
3,361,368
3,304,015
Income Statement
Net interest income
284,252
262,023
266,042
264,198
254,921
Provision for credit losses
4,897
14,442
2,948
10,245
8,607
Non-interest income
79,306
69,841
69,980
70,407
69,148
Non-interest expense
230,954
200,294
212,986
196,574
192,811
Income before taxes
127,707
117,128
120,088
127,786
122,651
Net income available to common shareholders
99,852
92,199
96,408
97,892
96,636
Per Share
Net income available to common shareholders (basic)
$0.52
$0.51
$0.53
$0.54
$0.53
Net income available to common shareholders (diluted)
$0.52
$0.51
$0.53
$0.53
$0.53
Operating net income available to common shareholders(2)
$0.60
$0.55
$0.55
$0.55
$0.55
Cash dividends
$0.19
$0.19
$0.19
$0.18
$0.18
Common shareholders' equity
$18.92
$18.52
$18.33
$17.81
$17.20
Common shareholders' equity (tangible)(2)
$15.61
$15.12
$14.92
$14.39
$13.78
Weighted average shares (basic)
191,386
179,720
180,405
181,658
182,261
Weighted average shares (diluted)
192,997
181,655
182,197
183,349
183,813
(1) Includes related unrealized holding gains (losses) for available for sale ("AFS") securities.
(2) Non-GAAP financial measure. Refer to the calculation on the page titled "Reconciliation of Non-GAAP Measures" at the end of this press release.
Three months ended
Jun 30
Mar 31
Dec 31
Sep 30
Jun 30
2026
2026
2025
2025
2025
Asset Quality
Net charge-offs to average loans (annualized)
0.34 %
0.25 %
0.24 %
0.18 %
0.20 %
Non-performing loans to total net loans
0.70 %
0.72 %
0.76 %
0.83 %
0.89 %
Non-performing assets to total assets
0.54 %
0.55 %
0.58 %
0.63 %
0.67 %
ACL - loans(1) to total loans
1.48 %
1.51 %
1.51 %
1.57 %
1.57 %
ACL - loans(1) to non-performing loans
211 %
209 %
198 %
189 %
177 %
Profitability
Return on average assets
1.20 %
1.20 %
1.23 %
1.25 %
1.25 %
Operating return on average assets(2)
1.39 %
1.30 %
1.27 %
1.29 %
1.30 %
Return on average common shareholders' equity
11.14 %
11.16 %
11.69 %
12.26 %
12.46 %
Operating return on average common shareholders' equity (tangible)(2)
15.71 %
14.76 %
14.86 %
15.79 %
16.26 %
Net interest margin
3.60 %
3.58 %
3.59 %
3.57 %
3.47 %
Efficiency ratio(2)
57.3 %
56.7 %
60.0 %
56.5 %
57.1 %
Non-interest expense to total average assets
2.71 %
2.54 %
2.64 %
2.44 %
2.42 %
Operating non-interest expense to total average assets(2)
2.47 %
2.42 %
2.53 %
2.38 %
2.36 %
Capital Ratios(3)
Tangible common equity ratio ("TCE")(2)
8.8 %
8.6 %
8.5 %
8.3 %
8.0 %
Tier 1 leverage ratio
9.9 %
9.9 %
9.7 %
9.6 %
9.4 %
Common equity Tier 1 capital ratio
12.1 %
11.9 %
11.8 %
11.6 %
11.3 %
Tier 1 risk-based capital ratio
12.8 %
12.7 %
12.6 %
12.4 %
12.1 %
Total risk-based capital ratio
15.9 %
15.2 %
15.2 %
15.0 %
14.7 %
(1) "ACL - loans" relates to the allowance for credit losses ("ACL") specifically on "Net Loans" and does not include the ACL related to off-balance-sheet
("OBS") credit exposures.
(2) Non-GAAP financial measure. Refer to the calculation on the page titled "Reconciliation of Non-GAAP Measures" at the end of this press release.
(3) Regulatory capital ratios as of June 30, 2026 are preliminary estimates and prior periods are actual.
(1) "ACL - loans" relates to the ACL specifically on "Net Loans" and does not include the ACL related to OBS credit exposures.
(2) Includes equipment lease financing, overdraft and net origination fees and costs.
FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(dollars in thousands, except per share and share data)
Three months ended
Six months ended
Jun 30
Mar 31
Dec 31
Sep 30
Jun 30
Jun 30
2026
2026
2025
2025
2025
2026
2025
Net Interest Income:
Interest income
$ 428,154
$ 390,056
$ 403,416
$ 411,006
$ 402,761
$ 818,210
$ 802,452
Interest expense
143,902
128,033
137,374
146,808
147,840
271,935
296,345
Net Interest Income
284,252
262,023
266,042
264,198
254,921
546,275
506,107
Provision for credit losses
4,897
14,442
2,948
10,245
8,607
19,339
22,505
Net Interest Income after Provision
279,355
247,581
263,094
253,953
246,314
526,936
483,602
Non-Interest Income:
Wealth management
23,139
24,496
23,879
22,639
22,281
47,635
44,066
Commercial banking:
Merchant and card
7,496
6,343
6,847
7,327
7,376
13,839
13,967
Cash management
8,817
8,363
8,374
8,335
8,376
17,180
16,175
Capital markets
3,530
3,614
3,730
2,908
2,945
7,144
5,356
Other commercial banking
4,979
4,486
5,162
4,595
4,734
9,465
9,262
Total commercial banking
24,822
22,806
24,113
23,165
23,431
47,628
44,760
Consumer banking:
Card
8,596
7,887
8,366
8,246
7,958
16,483
15,502
Overdraft
3,858
3,798
4,109
4,153
3,817
7,656
7,112
Other consumer banking
2,891
2,491
2,967
2,775
2,753
5,382
4,982
Total consumer banking
15,345
14,176
15,442
15,174
14,528
29,521
27,596
Mortgage banking
4,938
3,955
3,636
3,711
3,991
8,893
7,130
Other
11,062
4,408
2,910
5,718
4,917
15,470
12,830
Non-interest income before investment securities (losses) gains
79,306
69,841
69,980
70,407
69,148
149,147
136,382
Investment securities (losses) gains, net
—
—
—
—
—
—
(2)
Total Non-Interest Income
79,306
69,841
69,980
70,407
69,148
149,147
136,380
Non-Interest Expense:
Salaries and employee benefits
120,184
109,917
121,632
111,265
107,123
230,101
210,649
Data processing and software
20,419
18,662
19,695
18,535
18,262
39,081
36,861
Net occupancy
17,841
18,229
17,554
15,954
16,410
36,070
34,617
Other outside services
14,999
12,750
13,105
12,951
12,009
27,749
23,846
Intangible amortization
5,910
5,349
5,365
5,368
5,460
11,260
11,729
FDIC insurance
4,430
4,249
4,540
5,089
4,951
8,679
10,549
Equipment
4,086
3,924
4,001
3,926
4,100
8,010
8,249
Marketing
2,818
2,331
1,694
2,470
2,604
5,149
5,124
Professional fees
2,342
2,239
2,088
2,320
2,163
4,581
1,085
Acquisition-related expenses
13,839
2,644
802
—
—
16,483
380
Other
24,086
20,000
22,510
18,696
19,729
44,085
39,181
Total Non-Interest Expense
230,954
200,294
212,986
196,574
192,811
431,248
382,270
Income Before Income Taxes
127,707
117,128
120,088
127,786
122,651
244,835
237,712
Income tax expense
25,293
22,367
21,118
27,332
23,453
47,660
45,527
Net Income
102,414
94,761
98,970
100,454
99,198
197,175
192,185
Preferred stock dividends
(2,562)
(2,562)
(2,562)
(2,562)
(2,562)
(5,124)
(5,124)
Net Income Available to Common Shareholders
$ 99,852
$ 92,199
$ 96,408
$ 97,892
$ 96,636
$ 192,051
$ 187,061
Three months ended
Six months ended
Jun 30
Mar 31
Dec 31
Sep 30
Jun 30
Jun 30
2026
2026
2025
2025
2025
2026
2025
PER SHARE:
Net income available to common shareholders:
Net income available to common shareholders (basic)
$0.52
$0.51
$0.53
$0.54
$0.53
$1.03
$1.03
Net income available to common shareholders (diluted)
$0.52
$0.51
$0.53
$0.53
$0.53
$1.02
$1.02
Cash dividends
$0.19
$0.19
$0.19
$0.18
$0.18
$0.38
$0.36
Weighted average shares (basic)
191,386
179,720
180,405
181,658
182,261
185,585
182,220
Weighted average shares (diluted)
192,997
181,655
182,197
183,349
183,813
187,377
183,999
FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)
(dollars in thousands)
Three months ended
June 30, 2026
March 31, 2026
June 30, 2025
Average
Yield/
Average
Yield/
Average
Yield/
Balance
Interest(1)
Rate
Balance
Interest(1)
Rate
Balance
Interest(1)
Rate
ASSETS
Interest-earning assets:
Net loans(2)
$ 25,883,823
$ 374,426
5.80 %
$ 24,225,655
$ 341,843
5.70 %
$ 23,899,742
$ 349,490
5.86 %
Investment securities(3)
5,233,693
47,661
3.64 %
5,001,079
44,771
3.58 %
5,390,953
49,463
3.67 %
Other interest-earning assets
997,586
10,377
4.17 %
773,171
7,745
4.05 %
682,075
8,197
4.82 %
Total Interest-Earning Assets
32,115,102
432,464
5.40 %
29,999,905
394,359
5.31 %
29,972,770
407,150
5.44 %
Noninterest-earning assets:
Cash and due from banks
310,904
300,074
277,880
Premises and equipment
189,791
173,203
186,989
Other assets
1,978,494
1,896,687
1,848,891
Less: ACL - loans(4)
(400,683)
(370,641)
(384,956)
Total Assets
$ 34,193,608
$ 31,999,228
$ 31,901,574
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities:
Demand deposits
$ 8,279,932
$ 32,443
1.57 %
$ 7,774,121
$ 29,036
1.51 %
$ 7,800,881
$ 34,745
1.79 %
Savings deposits
9,128,400
47,299
2.08 %
8,684,478
44,663
2.09 %
8,219,637
47,462
2.32 %
Brokered deposits
887,546
8,589
3.88 %
856,823
8,210
3.89 %
688,957
7,495
4.36 %
Time deposits
4,540,334
38,406
3.39 %
4,015,644
33,896
3.42 %
4,112,130
39,492
3.85 %
Total Interest-Bearing Deposits
22,836,212
126,737
2.23 %
21,331,066
115,805
2.20 %
20,821,605
129,194
2.49 %
Borrowings and other interest-bearing liabilities
1,744,871
17,165
3.95 %
1,359,113
12,228
3.65 %
1,756,246
18,646
4.26 %
Total Interest-Bearing Liabilities
24,581,083
143,902
2.35 %
22,690,179
128,033
2.29 %
22,577,851
147,840
2.62 %
Noninterest-bearing liabilities:
Demand deposits
5,178,454
5,120,028
5,303,997
Other liabilities
645,650
645,110
715,711
Total Liabilities
30,405,187
28,455,317
28,597,559
Total Deposits
28,014,666
1.81 %
26,451,094
1.78 %
26,125,602
1.98 %
Total interest-bearing liabilities and non-interest bearing deposits (cost of funds)
29,759,537
1.94 %
27,810,207
1.87 %
27,881,848
2.13 %
Shareholders' equity
3,788,421
3,543,911
3,304,015
Total Liabilities and Shareholders' Equity
$ 34,193,608
$ 31,999,228
$ 31,901,574
Net interest income/net interest margin (fully taxable equivalent)
288,562
3.60 %
266,326
3.58 %
259,310
3.47 %
Tax equivalent adjustment
(4,310)
(4,303)
(4,389)
Net Interest Income
$ 284,252
$ 262,023
$ 254,921
(1) Presented on a fully taxable-equivalent basis using a 21% federal tax rate and statutory interest expense disallowances.
(2) Average balances include non-performing loans.
(3) Average balances include amortized historical cost for AFS securities; the related unrealized holding gains (losses) are included in other assets.
(4) ACL - loans relates to the ACL for net loans and does not include the ACL related to OBS credit exposures, which is included in other liabilities.
FULTON FINANCIAL CORPORATION
AVERAGE LOANS, DEPOSITS AND BORROWINGS DETAIL (UNAUDITED)
(dollars in thousands)
Three months ended
Jun 30
Mar 31
Dec 31
Sep 30
Jun 30
2026
2026
2025
2025
2025
Loans, by type:
Real estate - commercial mortgage
$ 10,887,986
$ 9,930,713
$ 9,785,717
$ 9,721,395
$ 9,652,320
Commercial and industrial
4,602,800
4,522,694
4,473,522
4,494,662
4,530,085
Real estate - residential mortgage
7,189,941
6,696,646
6,646,318
6,560,413
6,448,443
Real estate - home equity
1,298,632
1,235,977
1,223,293
1,191,465
1,179,109
Real estate - construction
962,625
926,026
1,014,343
1,125,130
1,172,138
Consumer
592,106
576,852
577,136
590,658
599,505
Leases and other loans(1)
349,733
336,747
332,760
336,599
318,142
Total Net Loans
$ 25,883,823
$ 24,225,655
$ 24,053,089
$ 24,020,322
$ 23,899,742
Deposits, by type:
Noninterest-bearing demand
$ 5,178,454
$ 5,120,028
$ 5,243,390
$ 5,239,393
$ 5,303,997
Interest-bearing demand
8,279,932
7,774,121
7,984,980
7,876,227
7,800,881
Savings
9,128,400
8,684,478
8,519,075
8,391,379
8,219,637
Total demand and savings
22,586,786
21,578,627
21,747,445
21,506,999
21,324,515
Brokered
887,546
856,823
803,755
694,486
688,957
Time
4,540,334
4,015,644
3,986,459
4,097,195
4,112,130
Total Deposits
$ 28,014,666
$ 26,451,094
$ 26,537,659
$ 26,298,680
$ 26,125,602
Borrowings, by type:
Federal funds purchased
$ —
$ —
$ 54
$ —
$ 1,099
Federal Home Loan Bank advances
475,983
221,039
237,880
484,022
712,198
Senior debt and subordinated debt
509,493
367,679
367,598
367,517
367,438
Other borrowings and other interest-bearing liabilities
759,395
770,395
740,305
713,456
675,511
Total Borrowings
$ 1,744,871
$ 1,359,113
$ 1,345,837
$ 1,564,995
$ 1,756,246
(1) Includes equipment lease financing, overdraft and net origination fees and costs.
FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)
(dollars in thousands)
Six months ended June 30,
2026
2025
Average
Yield/
Average
Yield/
Balance
Interest(1)
Rate
Balance
Interest(1)
Rate
ASSETS
Interest-earning assets:
Net loans(2)
$ 25,059,319
$ 716,268
5.75 %
$ 23,953,003
$ 697,115
5.86 %
Investment securities(3)
5,118,030
92,432
3.61 %
5,295,507
96,706
3.65 %
Other interest-earning assets
885,999
18,122
4.12 %
737,302
17,361
4.74 %
Total Interest-Earning Assets
31,063,348
826,822
5.35 %
29,985,812
811,182
5.44 %
Noninterest-Earning assets:
Cash and due from banks
305,519
289,822
Premises and equipment
181,545
189,108
Other assets
1,937,815
1,856,900
Less: ACL - loans(4)
(385,745)
(385,241)
Total Assets
$ 33,102,482
$ 31,936,401
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-Bearing liabilities:
Demand deposits
$ 8,028,425
$ 61,480
1.54 %
$ 7,777,364
$ 68,934
1.79 %
Savings deposits
8,907,666
91,961
2.08 %
8,134,377
92,563
2.29 %
Brokered deposits
872,269
16,798
3.88 %
796,243
17,533
4.44 %
Time deposits
4,279,437
72,304
3.41 %
4,081,913
81,055
4.00 %
Total Interest-Bearing Deposits
22,087,797
242,543
2.21 %
20,789,897
260,085
2.52 %
Borrowings and other interest-bearing liabilities
1,553,057
29,392
3.82 %
1,755,577
36,260
4.17 %
Total Interest-Bearing Liabilities
23,640,854
271,935
2.32 %
22,545,474
296,345
2.65 %
Noninterest-Bearing liabilities:
Demand deposits
5,149,402
5,357,731
Other liabilities
645,385
753,988
Total Liabilities
29,435,641
28,657,193
Total Deposits
27,237,199
1.80 %
26,147,628
2.01 %
Total interest-bearing liabilities and non-interest bearing deposits (cost of funds)
28,790,256
1.90 %
27,903,205
2.14 %
Shareholders' equity
3,666,841
3,279,208
Total Liabilities and Shareholders' Equity
$ 33,102,482
$ 31,936,401
Net interest income/net interest margin (fully taxable equivalent)
554,887
3.59 %
514,837
3.45 %
Tax equivalent adjustment
(8,612)
(8,730)
Net Interest Income
$ 546,275
$ 506,107
(1) Presented on a fully taxable-equivalent basis using a 21% federal tax rate and statutory interest expense disallowances.
(2) Average balances include non-performing loans.
(3) Average balances include amortized historical cost for AFS; the related unrealized holding gains (losses) are included in other assets.
(4) ACL - loans relates to the ACL for net loans and does not include the ACL related to OBS credit exposures, which is included in other liabilities.
FULTON FINANCIAL CORPORATION
AVERAGE LOANS, DEPOSITS AND BORROWINGS DETAIL (UNAUDITED)
(dollars in thousands)
Six months ended June 30,
2026
2025
Loans, by type:
Real estate - commercial mortgage
$ 10,403,830
$ 9,653,793
Commercial and industrial
4,571,311
4,569,027
Real estate - residential mortgage
6,944,657
6,408,432
Real estate - home equity
1,267,478
1,169,961
Real estate - construction
944,248
1,233,770
Consumer
584,521
607,578
Leases and other loans(1)
343,274
310,442
Total Net Loans
$ 25,059,319
$ 23,953,003
Deposits, by type:
Noninterest-bearing demand
$ 5,149,402
$ 5,357,731
Interest-bearing demand
8,028,425
7,777,364
Savings
8,907,666
8,134,377
Total demand and savings
22,085,493
21,269,472
Brokered
872,269
796,243
Time
4,279,437
4,081,913
Total Deposits
$ 27,237,199
$ 26,147,628
Borrowings, by type:
Federal funds purchased
$ —
$ 552
Federal Home Loan Bank advances
349,215
710,790
Senior debt and subordinated debt
438,978
367,398
Other borrowings and other interest-bearing liabilities
764,865
676,837
Total Borrowings
$ 1,553,058
$ 1,755,577
(1) Includes equipment lease financing, overdraft and net origination fees and costs.
FULTON FINANCIAL CORPORATION
ASSET QUALITY INFORMATION (UNAUDITED)
(dollars in thousands)
Three months ended
Six months ended
Jun 30
Mar 31
Dec 31
Sep 30
Jun 30
Jun 30
Jun 30
2026
2026
2025
2025
2025
2026
2025
Allowance for credit losses related to net loans:
Balance at beginning of period
$ 367,489
$ 364,462
$ 376,258
$ 377,337
$ 379,677
$ 364,462
$ 379,156
Initial allowance for credit losses on purchased loans
30,993
3,351
—
—
—
34,344
—
Loans charged off:
Real estate - commercial mortgage
(10,789)
(4,102)
(14,104)
(3,906)
(6,402)
(14,891)
(18,508)
Commercial and industrial
(12,015)
(10,545)
(5,295)
(5,847)
(5,780)
(22,560)
(9,645)
Real estate - residential mortgage
(121)
(391)
(58)
(394)
(258)
(512)
(601)
Consumer and home equity
(2,119)
(2,164)
(2,212)
(2,527)
(1,885)
(4,284)
(4,078)
Real estate - construction
—
—
—
(5,286)
(100)
—
(100)
Leases and other loans(1)
(966)
(1,116)
(1,140)
(1,479)
(1,491)
(2,081)
(3,018)
Total loans charged off
(26,010)
(18,318)
(22,809)
(19,439)
(15,916)
(44,328)
(35,950)
Recoveries of loans previously charged off:
Real estate - commercial mortgage
1,629
701
633
4,307
133
2,330
507
Commercial and industrial
1,280
740
6,592
3,205
2,628
2,020
8,580
Real estate - residential mortgage
197
72
230
33
203
268
377
Consumer and home equity
484
584
861
726
899
1,068
1,559
Real estate - construction
—
884
—
47
99
884
181
Leases and other loans(1)
404
429
146
192
240
834
441
Total recoveries of loans previously charged off
3,994
3,410
8,462
8,510
4,202
7,404
11,645
Net loans charged off
(22,016)
(14,908)
(14,347)
(10,929)
(11,714)
(36,924)
(24,305)
Provision for credit losses(2)
6,308
14,584
2,551
9,850
9,374
20,892
22,486
Other
(194)
—
—
—
—
(194)
—
Balance at end of period
$ 382,580
$ 367,489
$ 364,462
$ 376,258
$ 377,337
$ 382,580
$ 377,337
Net charge-offs to average loans(3)
0.34 %
0.25 %
0.24 %
0.18 %
0.20 %
0.30 %
0.20 %
Provision for credit losses related to OBS Credit Exposures
Provision for credit losses(2)
$ (1,411)
$ (142)
$ 397
$ 395
$ (767)
$ (1,553)
$ 19
NON-PERFORMING ASSETS:
Non-accrual loans
$ 146,457
$ 142,035
$ 153,872
$ 150,137
$ 182,942
Loans 90 days past due and accruing
34,815
33,816
29,924
48,597
29,949
Total non-performing loans
181,272
175,851
183,796
198,734
212,891
Other real estate owned
5,791
1,648
1,365
2,305
2,706
Total non-performing assets
$ 187,063
$ 177,499
$ 185,161
$ 201,039
$ 215,597
NON-PERFORMING LOANS, BY TYPE:
Commercial and industrial
$ 39,466
$ 47,759
$ 47,756
$ 48,817
$ 45,565
Real estate - commercial mortgage
66,445
64,890
74,981
87,789
90,852
Real estate - residential mortgage
56,821
47,826
45,569
44,689
37,703
Consumer and home equity
12,387
12,339
11,875
12,658
11,109
Real estate - construction
6,135
3,000
2,267
3,461
25,602
Leases and other loans(2)
18
37
1,348
1,320
2,060
Total non-performing loans
$ 181,272
$ 175,851
$ 183,796
$ 198,734
$ 212,891
(1) Includes equipment lease financing, overdrafts and net origination fees and costs.
(2) The sum of these amounts are reflected in the provision for credit losses in the Condensed Consolidated Statements of Income.
(3) Quarterly results are annualized.
FULTON FINANCIAL CORPORATION
RECONCILIATION OF NON-GAAP MEASURES (UNAUDITED)
(dollars in thousands, except per share and share data)
Explanatory note:
This press release contains supplemental financial information, as detailed below, that has been derived by methods other than GAAP. The Corporation has presented these non-GAAP financial measures because it believes that these measures provide useful and comparative information to assess trends in the Corporation's results of operations and financial condition. Presentation of these non-GAAP financial measures is consistent with how the Corporation evaluates its performance internally and these non-GAAP financial measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in the Corporation's industry. Management believes that these non-GAAP financial measures, in addition to GAAP measures, are also useful to investors to evaluate the Corporation's results. Investors should recognize that the Corporation's presentation of these non-GAAP financial measures might not be comparable to similarly titled measures of other companies. These non-GAAP financial measures should not be considered a substitute for GAAP basis measures, and the Corporation strongly encourages a review of its condensed consolidated financial statements in their entirety. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measure follow:
Three months ended
Jun 30
Mar 31
Dec 31
Sep 30
Jun 30
2026
2026
2025
2025
2025
Operating net income available to common shareholders
Net income available to common shareholders
$ 99,852
$ 92,199
$ 96,408
$ 97,892
$ 96,636
Less: Other (1)
—
—
(4,989)
(738)
(9)
Plus: Core deposit intangible amortization
5,816
5,255
5,255
5,255
5,346
Plus: Acquisition-related expense
13,839
2,644
802
—
—
Plus: FDIC special assessment
—
—
(95)
—
—
Plus: FultonFirst implementation and asset disposals
(189)
1,556
2,795
(207)
(270)
Plus: Debt extinguishment costs
787
—
—
—
—
Less: Tax impact of adjustments
(4,253)
(1,985)
(791)
(905)
(1,064)
Operating net income available to common shareholders (numerator)
$ 115,852
$ 99,669
$ 99,385
$ 101,297
$ 100,639
Weighted average shares (diluted) (denominator)
192,997
181,655
182,197
183,349
183,813
Operating net income available to common shareholders, per share (diluted)
$ 0.60
$ 0.55
$ 0.55
$ 0.55
$ 0.55
Common shareholders' equity (tangible), per share
Shareholders' equity
$ 3,815,813
$ 3,505,283
$ 3,490,447
$ 3,413,598
$ 3,329,246
Less: Preferred stock
(192,878)
(192,878)
(192,878)
(192,878)
(192,878)
Less: Goodwill and intangible assets
(633,485)
(607,647)
(612,996)
(618,361)
(623,729)
Tangible common shareholders' equity (numerator)
$ 2,989,450
$ 2,704,758
$ 2,684,573
$ 2,602,359
$ 2,512,639
Shares outstanding, end of period (denominator)
191,461
178,843
179,895
180,865
182,379
Common shareholders' equity (tangible), per share
$ 15.61
$ 15.12
$ 14.92
$ 14.39
$ 13.78
(1) Includes loan recovery adjustments of $5.0 million and $0.6 million in the fourth quarter of 2025 and the third quarter of 2025, respectively, reflected in the provision for credit losses related to a loan acquired in the Republic Transaction.
Three months ended
Jun 30
Mar 31
Dec 31
Sep 30
Jun 30
2026
2026
2025
2025
2025
Operating return on average assets
Net income
$ 102,414
$ 94,761
$ 98,970
$ 100,454
$ 99,198
Less: Other (1)
—
—
(4,989)
(738)
(9)
Plus: Core deposit intangible amortization
5,816
5,255
5,255
5,255
5,346
Plus: Acquisition-related expense
13,839
2,644
802
—
—
Plus: FDIC special assessment
—
—
(95)
—
—
Plus: FultonFirst implementation and asset disposals
(189)
1,556
2,795
(207)
(270)
Plus: Debt extinguishment costs
787
—
—
—
—
Less: Tax impact of adjustments
(4,253)
(1,985)
(791)
(905)
(1,064)
Operating net income (numerator)
$ 118,414
$ 102,231
$ 101,947
$ 103,859
$ 103,201
Total average assets
$ 34,193,608
$ 31,999,228
$ 32,013,163
$ 31,924,038
$ 31,901,574
Less: Average net core deposit intangible
(66,665)
(54,629)
(60,726)
(65,999)
(71,282)
Total operating average assets (denominator)
$ 34,126,943
$ 31,944,599
$ 31,952,437
$ 31,858,039
$ 31,830,292
Operating return on average assets(2)
1.39 %
1.30 %
1.27 %
1.29 %
1.30 %
Operating return on average common shareholders' equity (tangible)
Net income available to common shareholders
$ 99,852
$ 92,199
$ 96,408
$ 97,892
$ 96,636
Less: Other (1)
—
—
(4,989)
(738)
(9)
Plus: Intangible amortization
5,910
5,349
5,365
5,368
5,460
Plus: Acquisition-related expense
13,839
2,644
802
—
—
Plus: FDIC special assessment
—
—
(95)
—
—
Plus: FultonFirst implementation and asset disposals
(189)
1,556
2,795
(207)
(270)
Plus: Debt extinguishment costs
787
—
—
—
—
Less: Tax impact of adjustments
(4,273)
(2,005)
(814)
(929)
(1,088)
Adjusted net income available to common shareholders (numerator)
$ 115,926
$ 99,743
$ 99,472
$ 101,386
$ 100,729
Average shareholders' equity
$ 3,788,421
$ 3,543,911
$ 3,464,539
$ 3,361,368
$ 3,304,015
Less: Average preferred stock
(192,878)
(192,878)
(192,878)
(192,878)
(192,878)
Less: Average goodwill and intangible assets
(635,278)
(610,262)
(615,600)
(620,986)
(626,383)
Average tangible common shareholders' equity (denominator)
$ 2,960,265
$ 2,740,771
$ 2,656,061
$ 2,547,504
$ 2,484,754
Operating return on average common shareholders' equity (tangible)(2)
15.71 %
14.76 %
14.86 %
15.79 %
16.26 %
Tangible common equity to tangible assets (TCE Ratio)
Shareholders' equity
$ 3,815,813
$ 3,505,283
$ 3,490,447
$ 3,413,598
$ 3,329,246
Less: Preferred stock
(192,878)
(192,878)
(192,878)
(192,878)
(192,878)
Less: Goodwill and intangible assets
(633,485)
(607,647)
(612,996)
(618,361)
(623,729)
Tangible common shareholders' equity (numerator)
$ 2,989,450
$ 2,704,758
$ 2,684,573
$ 2,602,359
$ 2,512,639
Total assets
$ 34,556,720
$ 32,237,438
$ 32,118,400
$ 31,995,086
$ 32,040,448
Less: Goodwill and intangible assets
(633,485)
(607,647)
(612,996)
(618,361)
(623,729)
Total tangible assets (denominator)
$ 33,923,235
$ 31,629,791
$ 31,505,404
$ 31,376,725
$ 31,416,719
Tangible common equity to tangible assets
8.81 %
8.55 %
8.52 %
8.29 %
8.00 %
(1) Includes loan recovery adjustments of $5.0 million and $0.6 million in the fourth quarter of 2025 and the third quarter of 2025, respectively, reflected in the provision for credit losses related to a loan acquired in the Republic Transaction.
(2) Results are annualized.
Three months ended
Jun 30
Mar 31
Dec 31
Sep 30
Jun 30
2026
2026
2025
2025
2025
Efficiency ratio
Non-interest expense
$ 230,954
$ 200,294
$ 212,986
$ 196,574
$ 192,811
Less: Acquisition-related expense
(13,839)
(2,644)
(802)
—
—
Less: FDIC special assessment
—
—
95
—
—
Less: FultonFirst implementation and asset disposals
189
(1,556)
(2,795)
207
270
Less: Debt extinguishment costs
(787)
—
—
—
—
Less: Intangible amortization
(5,910)
(5,349)
(5,365)
(5,368)
(5,460)
Operating non-interest expense (numerator)
$ 210,607
$ 190,745
$ 204,119
$ 191,413
$ 187,621
Net interest income
$ 284,252
$ 262,023
$ 266,042
$ 264,198
$ 254,921
Tax equivalent adjustment
4,310
4,303
4,416
4,436
4,389
Plus: Total non-interest income
79,306
69,841
69,980
70,407
69,148
Less: Other revenue
—
—
11
(138)
(9)
Plus: Investment securities (gains) losses, net
—
—
—
—
—
Total revenue (denominator)
$ 367,868
$ 336,167
$ 340,449
$ 338,903
$ 328,449
Efficiency ratio
57.3 %
56.7 %
60.0 %
56.5 %
57.1 %
Operating non-interest expense to total average assets
Non-interest expense
$ 230,954
$ 200,294
$ 212,986
$ 196,574
$ 192,811
Less: Intangible amortization
(5,910)
(5,349)
(5,365)
(5,368)
(5,460)
Less: Acquisition-related expense
(13,839)
(2,644)
(802)
—
—
Less: FDIC special assessment
—
—
95
—
—
Less: FultonFirst implementation and asset disposals
189
(1,556)
(2,795)
207
270
Less: Debt extinguishment costs
(787)
—
—
—
—
Operating non-interest expense (numerator)
$ 210,607
$ 190,745
$ 204,119
$ 191,413
$ 187,621
Total average assets (denominator)
$ 34,193,608
$ 31,999,228
$ 32,013,163
$ 31,924,038
$ 31,901,574
Operating non-interest expenses to total average assets(1)
2.47 %
2.42 %
2.53 %
2.38 %
2.36 %
(1) Results are annualized.
Six months ended
Jun 30
Jun 30
2026
2025
Operating net income available to common shareholders
Net income available to common shareholders
$ 192,051
$ 187,061
Less: Other
—
(131)
Plus: Core deposit intangible amortization
11,070
11,501
Plus: Acquisition-related expense
16,483
380
Plus: FultonFirst implementation and asset disposals
1,367
(317)
Plus: Debt extinguishment costs
787
—
Less: Tax impact of adjustments
(6,238)
(2,401)
Operating net income available to common shareholders (numerator)
$ 215,520
$ 196,093
Weighted average shares (diluted) (denominator)
187,377
183,999
Operating net income available to common shareholders, per share (diluted)
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- Deliveries of 2,506 Homes Generating $927.2 Million in Total Revenues -
- Net New Home Contracts of 2,615 -
- Ending Community Count Increased Sequentially to 330, a Company Record -
- Net Income of $36.1 Million, or $1.26 Per Diluted Share -
- Book Value Per Share of $90.24, a Company Record -
, /PRNewswire/ -- Century Communities, Inc. (NYSE: CCS), one of the nation's largest homebuilders, today announced financial results for its second quarter ended June 30, 2026.
Second Quarter 2026 Highlights
Net income of $36.1 million, or $1.26 per diluted share Adjusted net income of $37.3 million, or $1.30 per diluted share Total revenues of $927.2 million Community count of 330, a Company record Deliveries of 2,506 homes Net new home contracts of 2,615 Homebuilding gross margin of 18.1% Adjusted homebuilding gross margin of 20.0% Repurchased 352,811 shares of common stock for $19.6 million "We delivered strong second quarter results despite continued headwinds from macro challenges and weak consumer sentiment, with earnings per diluted share of $1.26 increasing by 11% on a year-over-year basis and 50% sequentially," said Dale Francescon, Executive Chairman. "We continued to invest in our business and ended the quarter with 330 open communities, a Company record. Our balance sheet remains strong with $2.6 billion of stockholders' equity and $802 million of liquidity, and we repurchased 352,811 shares of our common stock for $19.6 million at a 38% discount to our Company record book value per share of $90.24 while maintaining our quarterly cash dividend of $0.32 per share and continuing to position Century for future growth."
Rob Francescon, Chief Executive Officer and President, said, "Our deliveries of 2,506 homes grew by 25% on a sequential basis and exceeded our guidance on stronger order activity, with our net orders of 2,615 homes increasing by 3% on a year-over-year basis and 10% sequentially. Our net orders were relatively stable throughout the quarter, with our traffic posting a sequential gain of 9% in the second quarter. Our adjusted homebuilding gross margin of 20.0% increased by 30 basis points on a sequential basis, benefitting from lower incentives and direct costs as we controlled our costs and inventory levels."
Second Quarter 2026 Results
Net income for the second quarter 2026 was $36.1 million, or $1.26 per diluted share. Adjusted net income was $37.3 million, or $1.30 per diluted share.
Total revenues were $927.2 million, with second quarter home sales revenues totaling $897.5 million. Deliveries totaled 2,506 homes. The average sales price of home deliveries for the second quarter 2026 was $358,200.
Net new home contracts in the second quarter 2026 were 2,615, and at the end of the second quarter 2026, the Company had 1,264 homes in backlog, representing $469.3 million of backlog dollar value.
Adjusted homebuilding gross margin percentage, excluding interest and purchase price accounting, was 20.0% in the second quarter of 2026, and homebuilding gross margin was 18.1%. Selling, general, and administrative expenses as a percent of home sales revenues was 14.2% in the quarter. Adjusted EBITDA and EBITDA for the second quarter 2026 were $78.2 million and $71.0 million, respectively.
Financial services revenues and pre-tax income were $25.4 million and $9.9 million, respectively, in the second quarter 2026.
Balance Sheet and Liquidity
The Company ended the second quarter 2026 with a strong financial position, including $2.6 billion of stockholders' equity and $802.4 million of total liquidity, including $132.0 million of cash, including cash equivalents and cash held in escrow.
Book value per share was $90.24, a Company record, as of June 30, 2026.
During the second quarter, consistent with Century's disciplined capital allocation approach to enhance the long-term value of the Company and return capital to our stockholders, Century maintained its quarterly cash dividend of $0.32 per share and repurchased 352,811 shares of common stock for $19.6 million.
As of June 30, 2026, homebuilding debt to capital equaled 34.2% and net homebuilding debt to net capital equaled 31.9%.
Full Year 2026 Outlook
Scott Dixon, Chief Financial Officer of the Company, commented, "We are raising the midpoint and low end of our full year 2026 home delivery guidance to be in the range of 9,750 to 10,500 homes, with our home sales revenues expected to be in the range of $3.5 billion to $3.8 billion."
Webcast and Conference Call
The Company will host a webcast and conference call on Wednesday, July 22, 2026, at 5:00 p.m. Eastern time, 3:00 p.m. Mountain time, to review the Company's second quarter 2026 results, provide commentary, and conduct a question-and-answer session. To participate in the call, please dial 833-461-5787 (domestic) or 585-542-9983 (international) and enter the conference ID 338 306 020. The live webcast will be available at www.centurycommunities.com in the Investors section. A replay of the webcast will be available on the Company's website for at least one year.
About Century Communities
Century Communities, Inc. (NYSE: CCS) is one of the nation's largest homebuilders and a recognized industry leader in online home sales. Newsweek has named the Company one of America's Most Trustworthy Companies for three consecutive years, and Century Communities has also been designated as one of U.S. News & World Report's Best Companies to Work For (2025-2026). Through its Century Communities and Century Complete brands, Century's mission is to build attractive, high-quality homes at affordable prices to provide its valued customers with A HOME FOR EVERY DREAM®. Century is engaged in all aspects of homebuilding — including the acquisition, entitlement and development of land, along with the construction, innovative marketing and sale of quality homes designed to appeal to a wide range of homebuyers. The Company operates in 16 states and over 45 markets across the U.S., and also offers mortgage, title, insurance brokerage, and escrow services in select markets through its Inspire Home Loans, Parkway Title, IHL Home Insurance Agency, and IHL Escrow subsidiaries. To learn more about Century Communities, please visit www.centurycommunities.com.
Non-GAAP Financial Measures
In addition to the Company's operating results presented in accordance with United States generally accepted accounting principles (GAAP), this press release includes the following non-GAAP financial measures: adjusted net income, adjusted diluted earnings per share, adjusted homebuilding gross margin, EBITDA, adjusted EBITDA, and ratio of net homebuilding debt to net capital. These non-GAAP financial measures should not be used as a substitute for the Company's operating results presented in accordance with GAAP, and an analysis of any non-GAAP financial measure should be used in conjunction with results presented in accordance with GAAP. Please refer to the reconciliation of each of the above referenced non-GAAP financial measures following the historical financial information presented in this press release.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and, as such, may involve known and unknown risks, uncertainties and assumptions. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "expect," "intend," "estimate," "plan," "continue," "will," "may," "should," "potential," "guidance" and "outlook" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements in this release include the Company's operating and financial guidance for 2026, including anticipated home deliveries and home sales revenues. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on historical information available at the time the statements are made and are based on management's reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company's control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. The following important factors could cause actual results to differ materially from those expressed in the forward-looking statements: changes in general economic conditions, including interest rates, inflation, and employment levels; consumer confidence and affordability concerns; the impact of geopolitical conflicts including in the Middle East, tariffs and increased costs, immigration reform and enforcement, global supply chain disruptions, labor, land and raw material or other resource shortages and delays, and municipal and utility delays on the Company's business, industry and the broader economy; the availability and cost of financing; home incentive levels; the ability to identify and acquire desirable land and dispose of land when appropriate; availability and pricing for land, labor and raw materials and other resources; reliance on contractors and key personnel; the effect of competition; risks associated with the Company's mortgage lending business and increased use of adjustable-rate mortgages; risks associated with the Company's multi-family rental businesses; future impairment and restructuring charges; the effect of tax changes; the effect of recent federal housing legislation; and the other factors included in the Company's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law.
Century Communities, Inc.
Consolidated Statements of Operations
(Unaudited)
(in thousands, except share and per share amounts)
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
2026
2025
Revenues
Homebuilding Revenues
Home sales revenues
$
897,528
$
976,467
$
1,631,634
$
1,860,204
Land sales and other revenues
4,255
483
37,426
1,445
Total homebuilding revenues
901,783
976,950
1,669,060
1,861,649
Financial services revenues
25,444
23,774
47,840
42,308
Total revenues
927,227
1,000,724
1,716,900
1,903,957
Homebuilding Cost of Revenues
Cost of home sales revenues
(735,368)
(804,522)
(1,338,659)
(1,512,437)
Cost of land sales and other revenues
(1,678)
(69)
(24,249)
(897)
Total homebuilding cost of revenues
(737,046)
(804,591)
(1,362,908)
(1,513,334)
Financial services costs
(15,548)
(17,550)
(30,299)
(33,724)
Selling, general, and administrative expense
(127,416)
(128,837)
(243,498)
(249,596)
Other income (expense), net
1,851
(2,663)
2,204
(7,702)
Income before income tax expense
49,068
47,083
82,399
99,601
Income tax expense
(12,920)
(12,229)
(21,842)
(25,363)
Net income
$
36,148
$
34,854
$
60,557
$
74,238
Earnings per share:
Basic
$
1.26
$
1.15
$
2.09
$
2.43
Diluted
$
1.26
$
1.14
$
2.09
$
2.40
Weighted average common shares outstanding:
Basic
28,637,901
30,366,109
28,912,225
30,582,376
Diluted
28,653,398
30,680,708
28,933,927
30,912,086
Century Communities, Inc.
Consolidated Balance Sheets
(in thousands, except share amounts)
June 30,
December 31,
2026
2025
Assets
(unaudited)
(audited)
Cash and cash equivalents
$
92,334
$
109,443
Cash held in escrow
39,709
48,571
Accounts receivable
64,824
57,242
Inventories
3,598,982
3,361,158
Mortgage loans held for sale
233,347
299,145
Prepaid expenses and other assets
511,559
435,683
Property and equipment, net
73,090
69,368
Deferred tax assets, net
36,317
38,176
Goodwill
41,109
41,109
Total assets
$
4,691,271
$
4,459,895
Liabilities and stockholders' equity
Liabilities:
Accounts payable
$
151,298
$
114,416
Accrued expenses and other liabilities
290,348
310,602
Notes payable
1,121,745
1,102,376
Revolving line of credit
329,600
51,500
Mortgage repurchase facilities
232,529
289,269
Total liabilities
2,125,520
1,868,163
Stockholders' equity:
Preferred stock, $0.01 par value, 50,000,000 shares authorized, none outstanding
—
—
Common stock, $0.01 par value, 100,000,000 shares authorized, 28,432,620 and 29,050,515 shares issued
and outstanding at June 30, 2026 and December 31, 2025, respectively
284
291
Additional paid-in capital
318,276
385,962
Retained earnings
2,247,191
2,205,479
Total stockholders' equity
2,565,751
2,591,732
Total liabilities and stockholders' equity
$
4,691,271
$
4,459,895
Century Communities, Inc.
Homebuilding Operational Data
(Unaudited)
Net New Home Contracts
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
% Change
2026
2025
% Change
West
309
323
(4.3)
%
645
715
(9.8)
%
Mountain
440
336
31.0
%
866
798
8.5
%
Texas
568
504
12.7
%
1,041
1,003
3.8
%
Southeast
386
384
0.5
%
745
771
(3.4)
%
Century Complete
912
999
(8.7)
%
1,697
1,951
(13.0)
%
Total
2,615
2,546
2.7
%
4,994
5,238
(4.7)
%
New Home Deliveries
(dollars in thousands)
Three Months Ended June 30,
2026
2025
% Change
Homes
Average Sales
Price
Homes
Average Sales
Price
Homes
Average Sales
Price
West
322
$
568.9
335
$
602.5
(3.9)
%
(5.6)
%
Mountain
416
476.5
396
521.0
5.1
%
(8.5)
%
Texas
527
290.8
501
294.2
5.2
%
(1.2)
%
Southeast
362
383.2
401
429.9
(9.7)
%
(10.9)
%
Century Complete
879
255.1
954
260.5
(7.9)
%
(2.1)
%
Total / Weighted Average
2,506
$
358.2
2,587
$
377.5
(3.1)
%
(5.1)
%
Six Months Ended June 30,
2026
2025
% Change
Homes
Average Sales
Price
Homes
Average Sales
Price
Homes
Average Sales
Price
West
599
$
568.8
638
$
601.0
(6.1)
%
(5.4)
%
Mountain
760
471.5
825
522.6
(7.9)
%
(9.8)
%
Texas
898
288.3
958
296.5
(6.3)
%
(2.8)
%
Southeast
677
388.2
704
435.7
(3.8)
%
(10.9)
%
Century Complete
1,585
259.3
1,746
260.5
(9.2)
%
(0.5)
%
Total / Weighted Average
4,519
$
361.1
4,871
$
381.9
(7.2)
%
(5.4)
%
Century Communities, Inc.
Homebuilding Operational Data
(Unaudited)
Selling Communities
As of June 30,
Increase/Decrease
2026
2025
Amount
% Change
West
40
36
4
11.1
%
Mountain
53
51
2
3.9
%
Texas
89
75
14
18.7
%
Southeast
36
43
(7)
(16.3)
%
Century Complete
112
122
(10)
(8.2)
%
Total
330
327
3
0.9
%
Backlog
(dollars in thousands)
As of June 30,
2026
2025
% Change
Homes
Dollar Value
Average Sales
Price
Homes
Dollar Value
Average Sales
Price
Homes
Dollar Value
Average Sales
Price
West
165
$
94,173
$
570.7
236
$
142,012
$
601.7
(30.1)
%
(33.7)
%
(5.2)
%
Mountain
214
110,273
515.3
122
66,572
545.7
75.4
%
65.6
%
(5.6)
%
Texas
279
83,386
298.9
222
67,939
306.0
25.7
%
22.7
%
(2.3)
%
Southeast
168
71,714
426.9
174
75,720
435.2
(3.4)
%
(5.3)
%
(1.9)
%
Century Complete
438
109,726
250.5
463
113,747
245.7
(5.4)
%
(3.5)
%
2.0
%
Total / Weighted Average
1,264
$
469,272
$
371.3
1,217
$
465,990
$
382.9
3.9
%
0.7
%
(3.0)
%
Lot Inventory
As of June 30,
2026
2025
% Change
Owned
Controlled
Total
Owned
Controlled
Total
Owned
Controlled
Total
West
3,546
2,488
6,034
3,948
3,097
7,045
(10.2)
%
(19.7)
%
(14.4)
%
Mountain
7,491
2,203
9,694
8,905
1,344
10,249
(15.9)
%
63.9
%
(5.4)
%
Texas
13,725
2,981
16,706
14,900
5,493
20,393
(7.9)
%
(45.7)
%
(18.1)
%
Southeast
4,864
6,247
11,111
5,095
8,392
13,487
(4.5)
%
(25.6)
%
(17.6)
%
Century Complete
4,055
12,528
16,583
4,571
12,956
17,527
(11.3)
%
(3.3)
%
(5.4)
%
Total
33,681
26,447
60,128
37,419
31,282
68,701
(10.0)
%
(15.5)
%
(12.5)
%
% of Total
56.0 %
44.0 %
100.0 %
54.5 %
45.5 %
100.0 %
Century Communities, Inc.
Reconciliation of Non-GAAP Financial Measures
(Unaudited)
Adjusted net income and adjusted diluted earnings per share ("Adjusted EPS") are non-GAAP financial measures that the Company believes are useful to management, investors and other users of its financial information in evaluating its operating results and understanding its operating trends without the effect of specified factors that management believes affect comparability. The Company believes excluding specified factors that management believes affect comparability provides more comparable assessment of its financial results from period to period. The Company defines adjusted net income as consolidated net income before (i) income tax expense; (ii) inventory impairment; (iii) abandonment of lot option contracts; (iv) restructuring costs; (v) loss on debt extinguishment; (vi) impairment on other investment; and (vii) purchase price accounting for acquired work in process inventory; in each case, as applicable during a period, less adjusted income tax expense, calculated using the Company's estimated annual effective tax rate after discrete items for the applicable period. Adjusted EPS is calculated by dividing adjusted net income by weighted average common shares – diluted.
Adjusted Net Income and Adjusted Diluted Earnings Per Share
(in thousands, except share and per share amounts)
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
2026
2025
Numerator
Net income
$
36,148
$
34,854
$
60,557
$
74,238
Denominator
Weighted average common shares outstanding - basic
28,637,901
30,366,109
28,912,225
30,582,376
Dilutive effect of stock-based compensation awards
15,497
314,599
21,702
329,710
Weighted average common shares outstanding - diluted
28,653,398
30,680,708
28,933,927
30,912,086
Earnings per share:
Basic
$
1.26
$
1.15
$
2.09
$
2.43
Diluted
$
1.26
$
1.14
$
2.09
$
2.40
Adjusted earnings per share
Numerator
Net income
$
36,148
$
34,854
$
60,557
$
74,238
Income tax expense
12,920
12,229
21,842
25,363
Income before income tax expense
49,068
47,083
82,399
99,601
Inventory impairment
—
7,360
—
7,771
Abandonment of lot option contracts(1)
1,125
2,642
2,079
4,148
Restructuring costs
—
—
—
1,505
Purchase price accounting for acquired work in process inventory
613
2,041
1,301
3,933
Adjusted income before income tax expense
50,806
59,126
85,779
116,958
Adjusted income tax expense(2)
(13,467)
(15,056)
(22,738)
(29,783)
Adjusted net income
$
37,339
$
44,070
$
63,041
$
87,175
Denominator - Diluted
28,653,398
30,680,708
28,933,927
30,912,086
Adjusted diluted earnings per share
$
1.30
$
1.44
$
2.18
$
2.82
(1)
Beginning in the third quarter of 2025, the Company added "Abandonment of lot option contracts" as an adjustment in its non-GAAP adjusted net income calculation. Accordingly, the corresponding prior period information has been recast to conform to the current presentation and calculation.
(2)
The tax rates used in calculating adjusted net income for the three and six months ended June 30, 2026 were each 26.5%, respectively, which are reflective of our GAAP tax rates for the six months ended June 30, 2026. The tax rates used in calculating adjusted net income for the three and six months ended June 30, 2025 were each 25.5%, respectively, which are reflective of our GAAP tax rates for the six months ended June 30, 2025.
Century Communities, Inc.
Reconciliation of Non-GAAP Financial Measures
(Unaudited)
Adjusted homebuilding gross margin excluding inventory impairment (if applicable), interest in cost of home sales revenues, and purchase price accounting for acquired work in process inventory (if applicable), is not a measurement of financial performance under GAAP; however, the Company's management believes that this information is meaningful as it isolates the impact that inventory impairment, indebtedness, and acquisitions have on homebuilding gross margin and permits the Company's stockholders to make better comparisons with the Company's competitors, who adjust gross margins in a similar fashion. This non-GAAP financial measure should not be used as a substitute for the Company's GAAP operating results. An analysis of any non-GAAP financial measure should be used in conjunction with results presented in accordance with GAAP.
and purchase price accounting for acquired work in process inventory
$
323,788
19.8
%
$
386,460
20.8
%
(1)
Beginning in the fourth quarter of 2025, inventory impairment was reclassified to be included in cost of home sales revenues in the Company's consolidated statements of operations rather than presented as a separate line item and prior year amounts have been reclassified to conform to this presentation.
Century Communities, Inc.
Reconciliation of Non-GAAP Financial Measures
(Unaudited)
EBITDA and Adjusted EBITDA
EBITDA and adjusted EBITDA are non-GAAP financial measures the Company uses as supplemental measures in evaluating operating performance. The Company defines EBITDA as net income before (i) income tax expense, (ii) interest in cost of home sales revenues, (iii) other interest expense (income), and (iv) depreciation and amortization expense. The Company defines adjusted EBITDA as EBITDA before inventory impairment, abandonment of lot option contracts, stock-based compensation expense, restructuring costs, loss on debt extinguishment, impairment on other investment, and purchase price accounting for acquired work in process inventory, in each case as applicable during a period. The Company believes EBITDA and adjusted EBITDA provide an indicator of general economic performance that is not affected by fluctuations in interest rates or effective tax rates, levels of depreciation or amortization, and other specified factors that management believes affect comparability. Accordingly, the Company's management believes that these measurements are useful for comparing general operating performance from period to period. EBITDA and adjusted EBITDA should be considered in addition to, and not as a substitute for, consolidated net income in accordance with GAAP as a measure of performance. The presentation of adjusted EBITDA should not be construed as an indication that the Company's future results will be unaffected by unusual or other specified factors that management believes affect comparability. Each of EBITDA and adjusted EBITDA is limited as an analytical tool, and should not be considered in isolation or as a substitute for analysis of the Company's results of operations as reported under GAAP.
(in thousands)
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
% Change
2026
2025
% Change
Net income
$
36,148
$
34,854
3.7
%
$
60,557
$
74,238
(18.4)
%
Income tax expense
12,920
12,229
5.7
%
21,842
25,363
(13.9)
%
Interest in cost of home sales revenues
16,342
14,204
15.1
%
29,512
26,989
9.3
%
Interest expense (income)
218
(1,229)
(117.7)
%
387
(431)
(189.8)
%
Depreciation and amortization expense
5,389
6,434
(16.2)
%
10,741
12,862
(16.5)
%
EBITDA
$
71,017
$
66,492
6.8
%
$
123,039
$
139,021
(11.5)
%
Inventory impairment
—
7,360
(100.0)
%
—
7,771
(100.0)
%
Abandonment of lot option contracts (1)
1,125
2,642
(57.4)
%
2,079
4,148
(49.9)
%
Stock-based compensation expense (2)
5,400
7,941
(32.0)
%
7,180
8,233
(12.8)
%
Restructuring costs
—
—
—
%
—
1,505
(100.0)
%
Purchase price accounting for acquired work in process inventory
613
2,041
(70.0)
%
1,301
3,933
(66.9)
%
Adjusted EBITDA
$
78,155
$
86,476
(9.6)
%
$
133,599
$
164,611
(18.8)
%
(1)
Beginning in the third quarter of 2025, the Company added "Abandonment of lot option contracts" as an adjustment in its non-GAAP adjusted EBITDA calculation. Accordingly, the corresponding prior period information has been recast to conform to the current presentation and calculation.
(2)
Beginning in the fourth quarter of 2025, the Company added "Stock-based compensation expense" as an adjustment in its non-GAAP adjusted EBITDA calculation. Accordingly, the corresponding prior period information has been recast to conform to the current presentation and calculation.
Century Communities, Inc.
Reconciliation of Non-GAAP Financial Measures
(Unaudited)
Ratio of Net Homebuilding Debt to Net Capital
The following table presents the Company's ratio of net homebuilding debt to net capital, which is a non-GAAP financial measure. The Company calculates this by dividing net homebuilding debt (homebuilding debt less cash and cash equivalents, and cash held in escrow) by net capital (net homebuilding debt plus total stockholders' equity). Homebuilding debt is total debt minus outstanding borrowings under construction loan agreement and mortgage repurchase facilities. The most directly comparable GAAP measure is the ratio of homebuilding debt to capital. The Company believes the ratio of net homebuilding debt to net capital is a relevant and useful financial measure to investors in understanding the leverage employed in its operations and as an indicator of the Company's ability to obtain external financing.
(in thousands)
June 30,
December 31,
2026
2025
Notes payable
$
1,121,745
$
1,102,376
Revolving line of credit
329,600
51,500
Construction loan agreements
(118,982)
(90,269)
Total homebuilding debt
1,332,363
1,063,607
Total stockholders' equity
2,565,751
2,591,732
Total capital
$
3,898,114
$
3,655,339
Homebuilding debt to capital
34.2 %
29.1 %
Total homebuilding debt
$
1,332,363
$
1,063,607
Cash and cash equivalents
(92,334)
(109,443)
Cash held in escrow
(39,709)
(48,571)
Net homebuilding debt
1,200,320
905,593
Total stockholders' equity
2,565,751
2,591,732
Net capital
$
3,766,071
$
3,497,325
Net homebuilding debt to net capital
31.9 %
25.9 %
Contact Information:
Tyler Langton, Senior Vice President of Investor Relations and Finance
303-268-8345
[email protected]
2 Real-Estate Related Stocks Showing Signs Of Being UndervaluedCentury Communities NYSE: CCS reported stronger second-quarter 2026 results, with management citing improved order activity, higher deliveries, lower incentives and tighter cost controls despite what executives described as macroeconomic headwinds and weak consumer sentiment.
Executive Chairman Dale Francescon said the homebuilder delivered earnings of $1.26 per diluted share, up 11% from a year earlier and 50% sequentially. The company delivered 2,506 homes in the quarter, ahead of its guidance range of 2,200 to 2,400 homes. Francescon said deliveries benefited from a stronger absorption rate, which rose 6% from the prior quarter, compared with a historical average second-quarter decline of 7% over the previous five years.
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3 Undervalued Dividend Payers For Volatile Market Conditions“We delivered strong second quarter results despite continued headwinds from macro challenges and weak consumer sentiment,” Dale Francescon said.
Orders Improve as Community Count Reaches Record Chief Executive Officer Rob Francescon said net orders totaled 2,615 homes in the second quarter, up 3% year over year and 10% sequentially. He said most of the increase came from improved absorption rates, and order activity remained consistent throughout the quarter, with June orders roughly in line with April and May.
The company averaged 321 communities during the quarter and ended the period with 330 communities, up 4% sequentially and a company record. Rob Francescon noted that the net increase in community count occurred in June, meaning second-quarter orders did not receive a meaningful benefit from the higher quarter-end community count.
Traffic in the second quarter was about 9% higher than first-quarter levels, and June traffic was 18% higher than April levels. The cancellation rate declined year over year to 13.2%.
Rob Francescon said order activity so far in July has been in line with typical seasonality, though he said it was too early to determine the effect of recent interest-rate increases on buyers.
Margins Benefit From Lower Incentives and Costs Century reported second-quarter home sales revenue of $898 million, with an average sales price of $358,000. Chief Financial Officer Scott Dixon said pretax income was $49 million and net income was $36 million.
The company’s GAAP homebuilding gross margin was 18.1%, while adjusted gross margin was 20%. Both increased 30 basis points from the first quarter. Dixon noted that first-quarter margins had benefited by 90 basis points from a reduction to the company’s warranty accrual and rebate collections above prior estimates. Excluding that first-quarter benefit, he said second-quarter gross margin would have increased by 120 basis points sequentially, driven by lower incentives and direct construction costs.
Rob Francescon said incentives on delivered homes averaged 1,200 basis points, down about 50 basis points from the first quarter of 2026 and 100 basis points from the fourth quarter of 2025. He said incentives on closed homes were relatively consistent during the second quarter, and the company expects third-quarter incentives to be consistent with levels seen in the first half of the year, assuming current market conditions.
Direct construction costs on delivered homes declined 5% sequentially. Cycle times averaged 112 calendar days, down from both the prior year and prior quarter and a company record. Finished lot costs were flat sequentially, and the company continues to expect average finished lot costs for 2026 to be only 2% to 3% higher than fourth-quarter 2025 levels.
Mortgage Strategy and Affordability Rob Francescon said adjustable-rate mortgages accounted for nearly 35% of the mortgages originated by the company by principal volume in the second quarter. That was up from about 30% in the first quarter of 2026 and less than 5% in the first quarter of 2025.
“Receptivity of our buyers to ARMs has been increasing, and this increased adoption of ARMs could help partially address the market’s affordability challenges,” he said.
In response to an analyst question, Rob Francescon said the company believes it can push ARM usage higher, calling the products an affordable option for many buyers based on how long they may stay in their homes.
Capital Allocation and Guidance Century ended the quarter with just over 60,000 owned and controlled lots. Rob Francescon said owned lots declined 2% sequentially, while total lot count rose 3% as the company continued to manage its land position. The company expects 2026 land acquisition and development spending of $1 billion to $1.2 billion, with flexibility to raise or lower that amount depending on market conditions.
Dixon said Century ended the quarter with $2.6 billion in stockholders’ equity and a book value per share of $90.24, a company record. The company maintained its quarterly dividend of $0.32 per share and repurchased 353,000 shares for $20 million at an average price of $55.54 during the quarter. Through the first half of the year, Century repurchased 970,000 shares for $60 million, representing more than 3% of shares outstanding at the start of the year.
The company raised the midpoint and low end of its full-year 2026 delivery guidance. It now expects:
Home deliveries of 9,750 to 10,500 homes for 2026. Home sales revenue of $3.5 billion to $3.8 billion. Third-quarter deliveries of 2,500 to 2,700 homes, with a further sequential increase expected in the fourth quarter. Full-year tax rate of 26% to 27%. Regional Trends and Cost Pressures During the question-and-answer portion of the call, management said it remains constructive on Texas, where selling communities increased. Dixon said Houston remains a strong market for the company, especially among entry-level and first-time buyers, while San Antonio has been a “bright spot.” He said Austin appears to be improving, while the Dallas operation is still scaling.
Asked about vendor cost pressures, Rob Francescon said the company has received requests tied to higher oil prices, including diesel and asphalt on the land development side, but is pushing back on those increases. He said lumber tailwinds have likely ended, with costs “flat to up” but not yet meaningful on a percentage basis.
On competitive conditions, Rob Francescon said inventory levels appear to be in normal ranges and that the company has not seen “crazy discounting” to the extent it had last year or earlier this year. Dixon added that Century ended June with slightly below three finished spec homes per community, a level management said it views as appropriate for serving buyers.
“We are effectively balancing pace and price and controlling our costs and inventory levels,” Dixon said.
About Century Communities (NYSE:CCS)Century Communities, Inc is a national homebuilder and land developer headquartered in Greenwood Village, Colorado. The company is engaged in the acquisition, development, construction and sale of single- and multi-family residential homes, offering a range of floor plans and design options to homebuyers. In addition to its core homebuilding activities, Century Communities provides ancillary services such as mortgage financing, title and closing services, and insurance products through its wholly owned subsidiaries, aiming to deliver a comprehensive homebuying experience.
Founded in 2009, Century Communities rapidly expanded through both organic growth and strategic land acquisitions, positioning itself in high-growth markets across the United States.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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, /PRNewswire/ -- ONE Gas has released its 2026 Sustainability Report, highlighting the company's commitment to delivering affordable, reliable and safe natural gas while investing in system integrity, reducing emissions and supporting employees, customers and communities across Kansas, Oklahoma and Texas. The annual report highlights progress, projects and milestones from January 1, 2025, through December 31, 2025, unless noted otherwise.
"At ONE Gas, we're proud to deliver affordable, reliable natural gas to the customers we serve," said Robert S. McAnnally, chief executive officer of ONE Gas. "This report highlights how we meet today's energy needs while continuing to invest in the future, with a focus on safety, environmental stewardship, our employees and the communities we call home."
Sustainability Report Highlights
Safety and System Integrity
Safety remains ONE Gas' top Core Value. In 2025, the American Gas Association recognized ONE Gas with a Safety Achievement Award for the ninth consecutive year, reflecting the company's strong safety performance among similarly sized natural gas distribution companies. ONE Gas also replaced more than 400 miles of distribution mains, service lines and transmission lines to improve safety and reduce fugitive emissions. Environmental Stewardship
ONE Gas continued to make progress toward its 2035 goal to reduce Scope 1 emissions due to leaks from its distribution pipeline system by 55%, measured from an estimated 2005 baseline and accounting for projected system growth. As of Dec. 31, 2025, the company achieved an estimated 53% reduction. In 2025, ONE Gas also issued 26,477 energy efficiency rebates totaling approximately $14.1 million, helping customers reduce energy use and avoid an estimated 40,840 metric tons of CO2e emissions. Social Commitment
ONE Gas' commitment to service extends to employees, customers and communities. Employee engagement increased for the ninth consecutive year, with 91% of employees participating in the 2025 Gallup engagement survey and the company again ranking in the top quartile of Gallup's Overall Company Database. ONE Gas employees, retirees, family and friends also contributed more than 10,575 volunteer hours, while ONE Gas Foundation grants and community investments totaled $3.2 million across Kansas, Oklahoma and Texas. For a comprehensive look at ONE Gas' 2026 Sustainability Report, visit www.onegas.com
About ONE Gas
ONE Gas, Inc. (NYSE: OGS) is a 100% regulated natural gas utility, and trades on the New York Stock Exchange under the symbol "OGS." ONE Gas is included in the S&P MidCap 400 Index and is one of the largest natural gas utilities in the United States.
Headquartered in Tulsa, Oklahoma, ONE Gas provides a reliable and affordable energy choice to more than 2.3 million customers in Kansas, Oklahoma and Texas. Its divisions include Kansas Gas Service, the largest natural gas distributor in Kansas; Oklahoma Natural Gas, the largest in Oklahoma; and Texas Gas Service, the third largest in Texas, in terms of customers.
For more information and the latest news about ONE Gas, visit onegas.com and follow its social channels: X, Facebook, LinkedIn and YouTube.
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John P. Brase, President and CEO of Conagra Brands, Inc. (CAG -0.14%), purchased 35,000 shares of common stock on July 17, 2026, according to an SEC Form 4 filing.
Today's Change
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14.83
Transaction summaryMetricValueShares purchased35,000Transaction value$511,000Post-transaction shares (directly held)35,000Post-transaction value$499,800.00Transaction value based on SEC Form 4 weighted average purchase price ($14.59); post-transaction value based on July 17, 2026 market close ($14.28).
Key questionsHow significant is this purchase relative to the insider's current equity?
This transaction represents 100% of John P. Brase's current direct ownership in the company, as the executive held no prior direct shares before this purchase.What was the execution price relative to the market close on the transaction date?
The shares were acquired at a weighted average price of $14.59 per share, while the stock closed at $14.28 on the July 17, 2026 transaction date.What is the company's current financial and market standing?
Conagra Brands maintains a market capitalization of $7.0 billion and reported trailing twelve-month revenue of $11.3 billion, though it recorded a net loss of $1.9 billion over the same period.How has the stock performed since the transaction?
As of the July 20, 2026 market close, the stock was priced at $14.66, representing a marginal increase from the insider's entry price of $14.59.Company OverviewMetricValueShare Price (as of market close 2026-07-20)$14.66Market Capitalization$7.0 billionRevenue (TTM)$11.3 billionNet Income (TTM)-$1.9 billionCompany SnapshotConagra Brands manufactures and distributes a diverse portfolio of packaged food products across North America, including non-perishable grocery items, snacks, refrigerated foods, and frozen products, generating revenue through retail and foodservice distribution channels.The company operates through four primary business segments—Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice—which collectively serve retail customers, foodservice operators, and institutional buyers across multiple distribution channels.Conagra's primary customers include major retail grocery chains, convenience stores, foodservice operators, and institutional food buyers, with products positioned across mainstream consumer and value-oriented market segments.Conagra Brands is a major North American packaged foods manufacturer with approximately $11.3 billion in trailing twelve-month (TTM) revenue and a market capitalization of $7 billion, employing 18,300 individuals across its operations. The company maintains a diversified product portfolio spanning multiple food categories and distribution channels, positioning it as a significant player in the consumer defensive sector. Despite recent market headwinds reflected in a 25% one-year share price decline, Conagra's scale and established market presence provide a foundation for its competitive positioning in the packaged foods industry.
What this transaction means for investorsThere are many reasons an insider may sell shares in a company, some of which have nothing to do with their outlook for the share price.
But there is just one reason an insider buys: they expect the price to go up.
In that light, John Brase’s purchase of his first shares in ConAgra is a positive. And studies show that insider purchases are predictive of a share price gain in the next 30 days most of the time. However, tempering the bullishness of the purchase is the fact that Brase became CEO of ConAgra this spring. Buying shares in the company is something to be expected, to be frank.
ConAgra is facing headwinds from rising commodity costs that force it to push through price increases to consumers, which means, in all likelihood, people will buy less. Wall Street sees ConAgra’s revenue declining in the current fiscal year, 2027.
But in the longer term, there is hope that Brase’s turnaround plan for the business will come to fruition, and make his shares, and those of everyone else invested in the business, rise. His focus for the current year is to invest millions in brand awareness so consumers feel greater affinity for ConAgra’s brands, as well as to invest some $125 million in supply chain resilience to ensure better costs and availability in the future. Longer term , ConAgra want to simplify its array of brands and products, and is currently shifting to focus more on meats and savory snacks, in line with consumer trends.
In short, Brase’s share purchase may not be a signal to pile into ConAgra shares right now, but it’s a sign of faith in the business from its new leader. That’s always a positive.
