Track market-moving stories before they get noisy

AtriCure (ATRC - Free Report) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of a loss of $0.07. This compares to a loss of $0.14 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +100.00%. A quarter ago, it was expected that this medical device maker would post a loss of $0.02 per share when it actually produced earnings of $0.06, delivering a surprise of +400%.

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

AtriCure, which belongs to the Zacks Medical - Products industry, posted revenues of $141.25 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 1.43%. This compares to year-ago revenues of $123.62 million. The company has topped consensus revenue estimates four times over the last four quarters.

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

AtriCure shares have lost about 27.3% since the beginning of the year versus the S&P 500's gain of 5.2%.

What's Next for AtriCure?While AtriCure 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 AtriCure 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 $0.03 on $153.63 million in revenues for the coming quarter and $0.10 on $604.33 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, Medical - Products is currently in the bottom 36% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Exagen Inc. (XGN - Free Report) , is yet to report results for the quarter ended March 2026. The results are expected to be released on May 11.

This company is expected to post quarterly loss of $0.24 per share in its upcoming report, which represents a year-over-year change of -20%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Exagen Inc.'s revenues are expected to be $16.55 million, up 6.8% from the year-ago quarter.

AtriCure, Inc. (ATRC) Q1 2026 Earnings Call Transcript

AtriCure, Inc. (ATRC) Presents at Bank of America Global Healthcare Conference 2026 Transcript

[url="]AtriCure, Inc.[/url] ([url="]Nasdaq: ATRC[/url]), a leading innovator in surgical treatments and therapies for atrial fibrillation (Afib), left atrial a

Investors in AtriCure, Inc. (ATRC - Free Report) need to pay close attention to the stock based on moves in the options market lately. That is because the July 17, 2026 $17.50 Call had some of the highest implied volatility of all equity options today.

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

What do the Analysts Think?Clearly, options traders are pricing in a big move for AtriCure shares, but what is the fundamental picture for the company? Currently, AtriCure is a Zacks Rank #3 (Hold) in the Medical - Products industry that ranks in the Bottom 34% of our Zacks Industry Rank. Over the last 60 days, no analysts have increased their earnings estimates for the current quarter, while two analysts have revised their estimates downward. The net effect has taken our Zacks Consensus Estimate for the current quarter from 6 cents per share to 3 cents in that period.

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

For the quarter ended March 2026, Edwards Lifesciences (EW - Free Report) reported revenue of $1.65 billion, up 16.7% over the same period last year. EPS came in at $0.78, compared to $0.64 in the year-ago quarter.

The reported revenue represents no surprise over the Zacks Consensus Estimate of $0 million. With the consensus EPS estimate being $0.67, the EPS surprise was +16.42%.

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

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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

Net Sales by Product Group- Transcatheter Mitral and Tricuspid Therapies: $175.1 million versus $161 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +52% change.Net Sales by Product Group- Surgical Structural Heart: $276.2 million versus the five-analyst average estimate of $267.25 million. The reported number represents a year-over-year change of +10.1%.Net Sales by Product Group- Transcatheter Aortic Valve Replacement: $1.2 billion compared to the $1.17 billion average estimate based on five analysts. The reported number represents a change of +14.4% year over year.View all Key Company Metrics for Edwards Lifesciences here>>>

Shares of Edwards Lifesciences have returned -1.4% over the past month versus the Zacks S&P 500 composite's +9.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Key Takeaways EW beat Q1 EPS by 16.4% with 21.9% growth; revenues rose 17% to $1.65B, matching estimates. Edwards Lifesciences saw TAVR sales rise 14.4% and TMTT jump 51.9% on strong therapy adoption.EW raised 2026 sales growth guidance to 9-11% and EPS view to $2.95-$3.05, signaling confidence ahead. Edwards Lifesciences Corporation (EW - Free Report) reported first-quarter 2026 adjusted earnings per share (EPS) of 78 cents, which surpassed the Zacks Consensus Estimate by 16.4%. The figure increased 21.9% on a year-over-year basis. 

One-time adjustments primarily include certain litigation and restructuring expenses. GAAP EPS from continuing operations was 66 cents compared with 62 cents in the year-ago period.  

Edwards’ Q1 RevenuesSales totaled $1.65 billion, up 17% year over year. The metric was in line with the Zacks Consensus Estimate. 

Following the earnings announcement, EW stock rose 2.3% in the aftermarket trading yesterday.

EW’s Q1 Sales by SegmentsTranscatheter Aortic Valve Replacement (“TAVR”)

Global sales in the product group amounted to $1.20 billion, up 14.4% year over year or 11% at constant currency (CER). The performance reflected clinicians’ heightened focus on SAPIEN therapy and proactive disease management of patients suffering from severe aortic stenosis.

Transcatheter Mitral and Tricuspid Therapies (“TMTT”)

Sales totaled $175.1 million, up 51.9% from the prior-year figure on a reported basis. The global adoption of PASCAL and EVOQUE contributed to the overall growth.

Surgical Structural Heart

Global Surgical sales from continuing operations amounted to $276.2 million, up 10.1% year over year or 5.9% at CER. Growth was driven by continued adoption of RESILIA therapies that offer extended durability.

Edwards’ Q1 Margin PerformanceThe gross profit was $1.29 billion, up 15.7% year over year. The gross margin contracted 64 basis points (bps) to 78% due to a 20.2% increase in the cost of sales.

SG&A expenses rose 12.1% year over year to $522.2 million. R&D expenditures amounted to $263.3 million, up 3.4% year over year.

The operating income increased 28.1% year over year to $500.5 million. The operating margin expanded 269 bps to 30.4%.

EW’s Cash PositionThe company exited the first quarter of 2026 with cash and cash equivalents of $2.40 billion compared with $3.00 billion in the fourth quarter of 2025. Total debt was roughly $600 million, in line with the 2025 figure.

Edwards Lifesciences Corporation Price, Consensus and EPS SurpriseEdwards’ 2026 GuidanceFor 2026, the company has guided sales growth rate between 9% and 11% (up from 8% and 10%). The Zacks Consensus Estimate for sales is pegged at $6.66 billion, suggesting a 9.8% increase from the 2025 level.

Adjusted EPS is now projected to be in the $2.95-$3.05 range (previously $2.90-$3.05). The Zacks Consensus Estimate is pegged at $2.96.

For the second quarter of 2026, EW projects total sales in the band of $1.66-$1.74 billion and adjusted EPS in the 70-76 cents range. The Zacks Consensus Estimate for second-quarter sales and EPS is pinned at $1.68 billion and 75 cents, respectively.

Our TakeEdwards Lifesciences’ first-quarter earnings beat estimates but revenues matched the same. Within TAVR, the company saw intentional and urgent treatment of severe aortic stenosis patients, fueled by a large and growing body of evidence on the SAPIEN platform and the increased adoption of SAPIEN 3 Ultra RESILIA. 

Within TMTT, strong and increasing utilization of Edwards’ differentiated therapies, combined with double-digit mitral and tricuspid procedure volumes globally, positions Edwards for continued growth. Surgical performance continues to benefit from the ongoing adoption of RESILIA therapies that offer extended durability of Edwards’ therapies, including INSPIRIS, KONECT and MITRIS. Supported by the strong quarterly performance and multiple catalysts, management raised its 2026 outlook.

The contraction in gross margins is a concern, but the expansion in operating margins during the quarter is a positive sign.

EW’s Zacks Rank & Key PicksEdwards Lifesciences currently has a Zacks Rank #3 (Hold).

Some better-ranked stocks from the broader medical space are Globus Medical (GMED - Free Report) , Tactile Systems Technology, Inc. (TCMD - Free Report) and Phibro Animal Health (PAHC - Free Report) .

Globus Medical, currently sporting a Zacks Rank #1 (Strong Buy), reported a fourth-quarter 2025 adjusted EPS of $1.28, which surpassed the Zacks Consensus Estimate by 20.8%. Revenues of $826.4 million beat the Zacks Consensus Estimate by 4.9%. You can see the complete list of today’s Zacks #1 Rank stocks here.

GMED has an earnings yield of 4.7% compared to the industry’s negative 1.4% yield. The company beat earnings estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 18.79%.

Tactile Systems Technology, carrying a Zacks Rank #2 (Buy) at present, posted a fourth-quarter 2025 adjusted EPS of 46 cents, which outpaced the Zacks Consensus Estimate by 3.77%. Revenues of $103.6 million topped the Zacks Consensus Estimate by 10.52%.

TCMD has an earnings yield of 4.4% compared to the industry’s negative 1.4% yield. The company’s earnings outpaced estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 24.85%.

Phibro Animal Health, carrying a Zacks Rank #2 at present, posted a second-quarter fiscal 2026 adjusted EPS of 87 cents, which exceeded the Zacks Consensus Estimate by 27.01%. Revenues of $373.9 million outperformed the Zacks Consensus Estimate by 4.72%.

PAHC has an estimated long-term earnings growth rate of 21.5% compared with the industry’s 12.1%. The company’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 20.15%.

Posted by Defense World Staff on Apr 27th, 2026

LENSAR (NASDAQ:LNSR – Get Free Report) and Edwards Lifesciences (NYSE:EW – Get Free Report) are both medical companies, but which is the superior stock? We will compare the two companies based on the strength of their analyst recommendations, risk, dividends, institutional ownership, earnings, profitability and valuation.

Volatility & Risk LENSAR has a beta of 0.99, suggesting that its share price is 1% less volatile than the S&P 500. Comparatively, Edwards Lifesciences has a beta of 0.95, suggesting that its share price is 5% less volatile than the S&P 500.

Institutional and Insider Ownership 40.2% of LENSAR shares are held by institutional investors. Comparatively, 79.5% of Edwards Lifesciences shares are held by institutional investors. 66.0% of LENSAR shares are held by insiders. Comparatively, 0.3% of Edwards Lifesciences shares are held by insiders. Strong institutional ownership is an indication that large money managers, endowments and hedge funds believe a company is poised for long-term growth.

Valuation & Earnings This table compares LENSAR and Edwards Lifesciences”s top-line revenue, earnings per share (EPS) and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio LENSAR $58.44 million 1.05 -$34.28 million ($2.90) -1.76 Edwards Lifesciences $6.07 billion 8.00 $1.07 billion $1.83 46.01 Edwards Lifesciences has higher revenue and earnings than LENSAR. LENSAR is trading at a lower price-to-earnings ratio than Edwards Lifesciences, indicating that it is currently the more affordable of the two stocks.

Profitability This table compares LENSAR and Edwards Lifesciences’ net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets LENSAR -58.66% N/A -48.11% Edwards Lifesciences 17.39% 14.45% 11.12% Analyst Recommendations This is a summary of recent ratings and recommmendations for LENSAR and Edwards Lifesciences, as provided by MarketBeat.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score LENSAR 1 0 2 0 2.33 Edwards Lifesciences 0 9 16 3 2.79 LENSAR presently has a consensus target price of $10.00, suggesting a potential upside of 96.46%. Edwards Lifesciences has a consensus target price of $95.39, suggesting a potential upside of 13.29%. Given LENSAR’s higher probable upside, equities analysts clearly believe LENSAR is more favorable than Edwards Lifesciences.

Summary Edwards Lifesciences beats LENSAR on 12 of the 15 factors compared between the two stocks.

About LENSAR (Get Free Report)

LENSAR, Inc., a commercial-stage medical device company, focuses on designing, developing, and marketing a femtosecond laser system for the treatment of cataracts and the management of pre-existing or surgically induced corneal astigmatism. It offers LENSAR Laser System that incorporates a range of proprietary technologies designed to assist the surgeon in obtaining visual outcomes, efficiency, and reproducibility by providing imaging, procedure planning, design, and precision. The company also offers ALLY Adaptive Cataract Treatment System, a platform design to femtosecond laser technology features that enhanced laser capabilities into a single small unit that allows surgeons to perform a femtosecond laser assisted cataract procedure in a single operating room. LENSAR, Inc. was incorporated in 2004 and is headquartered in Orlando, Florida.

About Edwards Lifesciences (Get Free Report)

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names. The company also provides surgical structural heart solutions, such as aortic surgical valve under the INSPIRIS name; INSPIRIS RESILLA aortic valve, which offers RESILIA tissue and VFit technology; KONECT RESILIA, a pre-assembled tissue valves conduit for complex combined procedures; and MITRIS RESILIA valve. In addition, it offers critical care solutions, including hemodynamic monitoring systems to measure a patient’s heart function and fluid status in surgical and intensive care settings under the FloTrac, Acumen IQ sensors, ClearSight, Acumen IQ cuffs, and ForeSight names; HemoSphere, a monitoring platform that displays physiological information; and Acumen Hypotension Prediction Index software that alerts clinicians in advance of a patient developing dangerously low blood pressure. The company distributes its products through a direct sales force and independent distributors. Edwards Lifesciences Corporation was founded in 1958 and is headquartered in Irvine, California.

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On April 29, 2026, we delve into the DCF analysis for Edwards Lifesciences Corp (EW), a company that has shown mixed price performance recently. Over the past w

CHICAGO--(BUSINESS WIRE)--Edwards Lifesciences (NYSE: EW) today announced 10-year results from the COMMENCE aortic trial, reinforcing the long-term durability and sustained performance of its proprietary RESILIA tissue. The data were presented at the 106th American Association for Thoracic Surgery Annual Meeting. As evidence increasingly supports treating patients earlier in the valve disease pathway, the need for durable valve solutions continues to grow. The COMMENCE trial provides prospectiv.

Healthcare is regaining momentum as innovation—especially AI‑driven drug discovery—creates new growth opportunities, according to Shivani Vohra. She points to obesity treatments from Eli Lilly (LLY) and Novo Nordisk (NVO), advances in diagnostics from Natera (NTRA), and continued strength in med tech leaders like Intuitive Surgical (ISRG) and Edwards Lifesciences (EW) as key areas of expansion.

Edwards Lifesciences Corporation (EW) Presents at Bank of America Global Healthcare Conference 2026 Transcript

On May 22, 2026, Edwards Lifesciences Corp (EW) shares rose 3.1% to a current price of $85.78. The stock has fluctuated between $72.30 and $87.89 over the past

Key Takeaways Edwards' TMTT sales rose about 42% in Q1 2026, driven by the adoption of PASCAL, EVOQUE and SAPIEN M3.Edwards' TAVR sales topped $1B for a sixth straight quarter, growing 11% year over year in Q1 2026.Edwards faces inflation, supply constraints, staffing shortages and foreign exchange headwinds. Edwards Lifesciences (EW - Free Report) appears well-positioned to continue benefiting from the expanding adoption of its premium surgical technologies worldwide. The Transcatheter Mitral and Tricuspid Therapies (“TMTT”) business has seen consistent growth over the past few quarters, which is highly encouraging. The company’s TAVR platform represents another significant growth opportunity, supported by patient activation and advanced new technologies. However, ongoing macroeconomic pressures and currency swings could weigh on Edwards’ financial results.

Over the past year, this Zacks Rank #3 (Hold) stock has gained 13% against the 5.5% fall of the industry and the S&P 500 composite’s 23.8% growth.

The renowned global medical device company has a market capitalization of $49.51 billion. EW’s earnings yield of 3.5% favorably compares with the industry’s negative 3.4% yield. In the trailing four quarters, Edwards delivered an average earnings surprise of 4.8%.

Let’s delve deeper.

Upsides for EW StockSurgical Structural Heart, A Promising Business: The business pioneered the innovative RESILIA tissue, which is backed by more than 40 years of the company’s tissue technology leadership. In first-quarter 2026, the segment grew 6% from the prior-year level, driven by strong global adoption of Edwards’ premium resilient technologies, including INSPIRIS, MITRIS and KONECT. The company continues to see positive procedure growth globally for the many patients treated surgically, including those undergoing complex procedures.

Edwards has been continuously generating evidence to expand the RESILIA portfolio, including positive one-year results from MOMENTIS, supporting the long-term durability of MITRIS systems for surgical mitral valve replacement. It also unveiled favorable eight-year data showing the strong durability of RESILIA tissue bioprosthetic valves.

Image Source: Zacks Investment Research

TMTT Portfolio Holds Potential: To transform care and unlock the significant long-term growth opportunity for mitral and tricuspid patients, Edwards focuses on three key value drivers — a portfolio of differentiated therapies for complex mitral and tricuspid anatomies, positive clinical trial results to support approvals and adoption, and favorable real-world clinical outcomes. In the first quarter of 2026, the segment witnessed an approximately 42% increase in sales compared with the prior year, driven by the continued global adoption of PASCAL, EVOQUE and SAPIEN M3 systems.

Edwards is making strides with the EVOQUE commercial rollout, activating new sites in both the United States and Europe (other than initial trial centers). At the recent ACC session, two-year TRISCEND II data showed EVOQUE significantly reduced all-cause mortality versus medical therapy while delivering sustained TR elimination, improved health and quality of life and no added device-related risk. Owing to a strong global uptake of differentiated therapies, the company now expects to achieve $2.00 billion of sales in 2030. 

Solid TAVR Opportunities: Edwards expects TAVR platform growth to be propelled by greater awareness, patient activation, advances in new technologies such as RESILIA, as well as indication expansion and increased global adoption. In the first quarter of 2026, TAVR sales exceeded $1 billion for the sixth consecutive quarter, with 11% year-over-year growth. The performance reflects clinicians' elevated focus on SAPIEN therapy and proactive disease management of patients suffering from severe aortic stenosis. Edwards' strong competitive position and average selling prices remained stable globally.

Europe’s sales benefited from healthy underlying TAVR procedure growth. The updated guidelines from the European Society of Cardiology and the European Association for Cardiothoracic Surgery are also reinforcing the role of TAVR for a broader patient population. Outside Europe, sales grew strongly across several regions, including Japan, driven by rising procedure volumes and increased adoption of the SAPIEN 3 Ultra RESILIA platform.

What Ails Edwards?Macro Concerns Put Pressure on the Bottom Line: Edwards’ extensive global operations and overseas manufacturing facilities and suppliers bring certain financial, economic, political and other risks. The global economy continues to experience volatility and disruptions, including conditions impacting inflation, credit and capital markets, interest rates and factors influencing overall economic stability and the political environment relating to health care. Persistent inflationary pressure, supply constraints stemming from geopolitical complications and regulatory changes are weighing heavily on the company’s operating results. Hospital staffing shortages remain another bottleneck.  

Foreign Exchange Headwinds: Foreign exchange is a major headwind for Edwards due to a considerable percentage of its revenues coming from outside the United States (in 2025, 41.6% of the company’s net sales were derived from international regions). We remain worried about the significant challenges Edwards had to face owing to the unfavorable foreign currency impact that has been adversely affecting the company’s gross margin over the past few quarters.

EW Stock Estimate TrendThe Zacks Consensus Estimate for Edwards’ 2026 earnings per share (EPS) has remained constant at $3.00 in the past 30 days.

The Zacks Consensus Estimate for the company’s 2026 revenues is pegged at $6.74 billion, suggesting an 11.1% improvement from the year-ago reported number.

Key PicksSome better-ranked stocks in the broader medical space are Globus Medical (GMED - Free Report) , Align Technology (ALGN - Free Report) and Integra LifeSciences (IART - Free Report) .

Globus Medical has an earnings yield of 5.9% compared to the industry’s negative 3.2% yield. Its earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 26.3%. GMED shares have rallied 33.8% against the industry’s 5.5% fall over the past year.

GMED sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Align Technology, sporting a Zacks Rank #1, has an estimated long-term earnings growth rate of 10.3% compared with the industry’s 9.6% growth. Shares of the company have dropped 2.9% against the industry’s 6.9% rise. ALGN’s earnings outpaced estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 7.8%.

Integra LifeSciences, carrying a Zacks Rank #2 (Buy), has an earnings yield of 14.2% against the industry’s negative 3.2% yield. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 16.7%. IART shares have rallied 37.9% against the industry’s 5.5% decline over the past year.

The calendar may say it’s spring, but it’s been looking a lot like Christmas for candy stocks. That’s because investors know that Halloween and Christmas are the warm-up acts for chocolate lovers. The real action comes around Easter and Mother’s Day.

That investor interest has allowed several well-known candy stocks to post positive returns in 2026. That pattern has continued despite the broader drawdown in many other sectors, including consumer staples.

However, investors on the sidelines may wonder if all the upside is gone. That question may have much to do with cocoa prices and tariffs for future sales. If those headwinds lessen throughout 2026, analysts may want to rethink their outlook for each stock. Even if input costs remain elevated, the companies have now had a year to strategize to lessen the impact.

Get Mondelez International alerts:

That said, these stocks are not cheap. Each of these stocks has a price-to-earnings (P/E) ratio well above the broader market and the sector average for consumer staples stocks. On the other hand, these stocks also pay sustainable dividends that provide income even if the growth slows.

Hershey Balances Cocoa Costs With Snack Growth The Hershey Company NYSE: HSY is an iconic company that has continued to deliver value to consumers and shareholders. One example of that is the company’s strategic pivot to add salty snacks to its portfolio. This category was a key growth driver in 2025, particularly given the legacy confectionery business's exposure to higher cocoa prices.

That was evident in the company’s Q4 2025 earnings report, in which the company beat adjusted earnings per share (EPS) expectations by over 20%. Even though that number was down 36% from the prior year, it came in much better than feared.

Analysts are mixed on HSY stock, which has a consensus price target of around $222, about 10% above its current price. The chart is also a bit mixed. HSY stock gapped up after the February earnings report, but it’s given up those gains since.

The question is why? Momentum indicators suggest this may simply be profit-taking on a stock trading at a rich 46x earnings. Traders may want a better entry point, but long-term investors can view the current level as a buying opportunity.

Mondelez Offers Steady Growth at a Reasonable Premium Mondelez International NASDAQ: MDLZ is the preferred candy stock for many investors who choose to own only one. The stock is up only about 6% in 2026 and down almost than 15% over the last 12 months. However, this could be a slow-but-steady story for patient investors.

First, Mondelez appears to be the choice of institutional investors. Unlike Hershey, which institutions sold hard in the last quarter, the “smart money” has been modestly accumulating MDLZ stock.

Second, the stock chart of Mondelez is also the most Goldilocks of these three stocks. Like HSY stock, it showed a strong bounce after its quarterly earnings. However, the beats in earnings were modest, as was the stock bounce. That said, MDLZ has given up those gains, but it has formed a solid base above its January low, which is likely to give the stock a base to climb higher.

Also, at 30x earnings, Mondelez is trading at a premium. However, at 18x forward earnings, the stock is offering solid value.

Tootsie Roll’s Niche Appeal Could Deliver Upside Tootsie Roll NYSE: TR stock, like its namesake candy, is an acquired taste. The analyst forecasts on MarketBeat show only one analyst covering the stock, which enjoys only about 14% institutional ownership.

That’s both a risk and an opportunity for retail investors. On the one hand, the lack of institutional support and analyst coverage means individual investors will have to work hard to lift the stock. On the other hand, that’s where asymmetric gains can come from.

That setup could be showing up on the TR stock chart. Investors sold the stock hard after the company’s Q4 2025 earnings report despite year-over-year gains in revenue and earnings. However, since then the stock has ground higher, reversing those losses.

But first, investors will need to see continued progress on earnings growth. To that end, management noted that “During fourth quarter 2025, tariffs on cocoa were rescinded and therefore we should realize some additional cost reductions on these purchases in 2026.”

If that’s the case, TR stock could offer exceptional value even as it trades at around 32x earnings, a premium to its historic average.

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

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Mondelez International wasn't on the list.

While Mondelez International currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

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Posted by Defense World Staff on Apr 7th, 2026

SG Americas Securities LLC boosted its position in shares of Tootsie Roll Industries, Inc. (NYSE:TR – Free Report) by 645.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,462 shares of the company’s stock after acquiring an additional 36,764 shares during the period. SG Americas Securities LLC owned 0.06% of Tootsie Roll Industries worth $1,555,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of TR. NBT Bank N A NY acquired a new position in shares of Tootsie Roll Industries during the third quarter worth $39,000. CWM LLC boosted its position in shares of Tootsie Roll Industries by 42.0% in the 3rd quarter. CWM LLC now owns 1,394 shares of the company’s stock worth $58,000 after purchasing an additional 412 shares in the last quarter. State of Wyoming acquired a new stake in shares of Tootsie Roll Industries in the 2nd quarter worth $111,000. iSAM Funds UK Ltd purchased a new position in Tootsie Roll Industries during the 3rd quarter worth $136,000. Finally, Strs Ohio purchased a new position in Tootsie Roll Industries during the 3rd quarter worth $143,000. 14.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Tootsie Roll Industries in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Tootsie Roll Industries has an average rating of “Hold”.

Get Our Latest Stock Analysis on Tootsie Roll Industries

Tootsie Roll Industries Trading Up 0.6% Shares of Tootsie Roll Industries stock opened at $43.99 on Tuesday. The firm’s 50 day simple moving average is $41.26 and its two-hundred day simple moving average is $39.65. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 32.83 and a beta of 0.48. Tootsie Roll Industries, Inc. has a 12-month low of $29.13 and a 12-month high of $44.59.

Tootsie Roll Industries (NYSE:TR – Get Free Report) last announced its quarterly earnings data on Friday, February 27th. The company reported $0.39 earnings per share for the quarter. Tootsie Roll Industries had a net margin of 13.81% and a return on equity of 11.02%. The firm had revenue of $196.28 million for the quarter.

Tootsie Roll Industries Dividend Announcement The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Thursday, March 5th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.8%. The ex-dividend date was Thursday, March 5th. Tootsie Roll Industries’s payout ratio is presently 26.87%.

Tootsie Roll Industries Profile (Free Report)

Tootsie Roll Industries, Inc is a U.S.-based confectionery company best known for producing Tootsie Rolls and Tootsie Pops. Headquartered in Chicago, the company manufactures a broad range of candy products, including fruit-flavored chews, gummies, mints and gum, under a portfolio of well-recognized brands. Its offerings are sold through mass-market retailers, convenience stores, specialty shops and vending channels.

The company traces its origins to 1896 when confectioner Leo Hirschfeld invented the Tootsie Roll in New York City.

Recommended Stories Five stocks we like better than Tootsie Roll Industries Want to see what other hedge funds are holding TR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tootsie Roll Industries, Inc. (NYSE:TR – Free Report).

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Tootsie Roll Industries trades at a full valuation near 20x EV/EBITDA, lacking growth drivers or meaningful brand expansion. Falling cocoa prices could deliver a 12% net income boost by late 2026, but sales growth remains limited and volume trends are negative. TR's portfolio is narrow, with little R&D, no significant M&A, and minimal investor communication, relying almost entirely on legacy brands.

Hadron Energy Announces NRC Acceptance of Quality Assurance Program Description for Future Manufacturing License Applications, a First for a Light-Water Microreactor Hadron Energy, Inc. (Nasdaq: HDRN) ("Hadron Energy" or the "Company"), an advanced nuclear technology company, today announced that the staff of the U.S. Nuclear Regulatory Commission (NRC) has issued a final safety evaluation finding Revision 3 of the Company's Topical Report (TR), "Hadron Energy, Inc. Quality Assurance Program Description" (QAPD), acceptable for referencing in its future licensing applications under 10 CFR Part 52.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260604951514/en/

The NRC staff's final safety evaluation concludes that Hadron Energy's QAPD complies with applicable NRC regulations and industry standards in support of a future 10 CFR Part 52 application. The acceptance establishes a vetted quality assurance framework spanning the full life cycle of the Hadron Micro-Modular Reactor — including design, manufacturing, construction, operations, and decommissioning — and reflects Hadron Energy's integrated role as designer, manufacturer, and owner-operator.

While it is not a license to construct or operate a reactor, and it does not constitute NRC review, approval, or certification of the Hadron Micro-Modular Reactor design, the NRC’s acceptance of the Topical Report is a foundational, programmatic regulatory milestone. Furthermore, Hadron Energy is the first light-water microreactor company to receive acceptance by the NRC of QAPD.

A rigorous quality assurance program is foundational to the safe and reliable deployment of nuclear technology. By establishing an NRC-vetted quality framework at the pre-application stage, Hadron Energy is instituting the disciplined design, manufacturing, construction, and operational controls that underpin nuclear safety from the outset. The QAPD applies a graded, lifecycle-wide approach in which the level of control for any item or activity is commensurate with its safety significance, reinforcing Hadron Energy's commitment to building and operating its reactors to rigorous, independently reviewed industry quality standards, including ASME NQA-1-2022.

"The NRC staff's acceptance of our Quality Assurance Program Description is a critical milestone for Hadron Energy and the development of our Micro-Modular Reactor," said Sam Gibson, Founder and Chief Executive Officer of Hadron Energy. "A quality assurance program that the NRC staff finds acceptable provides a vetted foundation that we can reference as we advance our licensing strategy, helping reduce duplicative review of previously accepted material in future applications, and most importantly provide the confidence to the company’s conceptual reactor design framework as we move toward the first of a kind deployment.”

Standardizing Future Licensing Pathways

Hadron Energy’s QAPD addresses the full lifecycle of the Hadron Micro-Modular Reactor. The program is based on Appendix B to Title 10 of the Code of Federal Regulations (10 CFR) Part 50 and commits to nuclear industry quality standards, including ASME NQA-1-2022, as endorsed by NRC Regulatory Guide 1.28, Revision 6.

Consistent with standard NRC practice, the NRC staff has requested that Hadron Energy publish the accepted version of the Topical Report within three months of its receipt of the NRC's notification, which Hadron Energy will do. This publicly accessible version will incorporate the NRC's correspondence and final safety evaluation and will carry the official "-A" (designated accepted) suffix following the report identification number.

With the QAPD accepted by the NRC staff, Hadron Energy may cite the accepted program in subsequent licensing applications under 10 CFR Part 52, including a Combined License (COL) or a Manufacturing License, to the extent specified and subject to the limitations and conditions in the safety evaluation. Referencing previously accepted material is intended to avoid repetitive NRC review of that material in future applications.

About Hadron Energy, Inc.

Hadron Energy, Inc. (Nasdaq: HDRN) is an advanced nuclear technology company focused on developing the Halo Micro-Modular Reactor (MMR), a 10 megawatt-electric (MWe) factory-manufactured, transportable light-water reactor. Engineered to deliver continuous, emission-free baseload power and heat with a multi-year refueling cycle, Hadron Energy aims to meet the growing demand for clean, scalable, and rapidly deployable energy solutions. As an integrated designer, manufacturer, and owner-operator, the Company is dedicated to powering a variety of critical sectors, including data centers, industrial facilities and heavy manufacturing, remote communities, and grid stabilization. For more information, visit www.hadronenergy.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of U.S. federal securities laws. Such forward-looking statements include, but are not limited to, statements regarding Hadron Energy’s regulatory filings with the NRC, its path to approval of its license application, the design of Hadron Micro-Modular Reactor, and the expectations, hopes, beliefs, intentions, plans, prospects or strategies regarding the business combination. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on certain assumptions and analyses made by the management of Hadron Energy in light of their respective experience and perception of historical trends, current conditions and expected future developments as well as other factors they believe are appropriate in the circumstances. There can be no assurance that future developments affecting Hadron Energy will be those anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the parties) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, including the ability of Hadron Energy to continue to meet the Nasdaq listing standards, and that Hadron Energy will have sufficient capital to operate as anticipated. Should one or more of these risks or uncertainties materialize, or should any of the assumptions being made prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260604951514/en/

The biggest payoff from investing in stocks often comes years down the road, when companies you've invested in have grown larger and become more valuable. There can be some considerable risks involving smaller, unproven businesses, but the upside can also be substantial.

Three stocks that I believe have the potential to be 10-bagger investments in the future are CRISPR Therapeutics (CRSP +0.94%), Green Thumb Industries (GTBIF 0.49%), and Joby Aviation (JOBY 2.19%). Let's take a closer look at these promising stocks.

Image source: Getty Images.

CRISPR Therapeutics CRISPR Therapeutics has a market cap of right around $5 billion, and it admittedly hasn't been a great investment over the past five years -- it's down more than 60% over that stretch. The good news is that the gene-editing company has become safer to invest in, and things may look better for CRISPR in the future.

In late 2023, the company obtained approval for Casgevy, a gene-editing therapy it has developed with Vertex Pharmaceuticals. It's approved for treating sickle cell disease and transfusion-dependent beta thalassemia. Casgevy, however, is still in its early stages of rolling out to patients throughout the world, and its full-year revenue totaled just $116 million in 2025. But it could generate billions at its peak. Meanwhile, CRISPR is also working on other treatments, including one for Type 1 diabetes, which could open up even more growth potential for the business in the long run.

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Although CRISPR incurred a loss of $582 million last year, with around $2 billion in cash and marketable securities, its operations are well funded and put the company in a strong financial position. There's some risk with the stock, but overall, it looks to be on a promising trajectory, and CRISPR has the potential to be a much more valuable healthcare company in the future.

Green Thumb Industries A stock that's struggled even worse than CRISPR in the past five years is Green Thumb Industries, which is down more than 70% over that time frame. The cannabis company has been growing, but the problem is that without meaningful reform in the industry, it's been difficult for the business to win over investors.

Marijuana remains illegal federally, but the hope is that it might change in the long run. The government recently rescheduled many medical marijuana products from a Schedule I classification to Schedule III, in what's a significant milestone for the industry. Recreational products may be rescheduled later this year, which may be an even bigger catalyst for pot stocks.

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Green Thumb is already one of the safer stocks to own in the cannabis industry. Unlike many others, it has actually turned a profit over the past four quarters. In 2025, it reported net income of $114 million on revenue of just under $1.2 billion. If regulation opens up more opportunities in the cannabis sector, this is a stock I have little doubt could generate 10x returns for investors in the long run. Currently, its market cap is just under $2 billion.

Joby Aviation Another stock that isn't doing as well as investors may have hoped is Joby Aviation. It's only down 14% in five years, but since the start of 2026, its shares have nosedived by 35%. It's a promising player in the emerging electric vertical take-off and landing (eVTOL) market, and it's hoping to obtain approval for its air taxi in the near future.

Joby's valuation remains fairly high at over $8 billion for a company that still hasn't launched commercial operations. It has been generating revenue, but that's been primarily due to a recent acquisition of Blade Urban Air Mobility. If Joby can get its core business off the ground, that's the big catalyst investors are waiting for.

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There are, however, still concerns around long-term profitability and whether the business has the potential to scale effectively without just burning through tons of cash along the way. I'm not convinced it can. However, if Joby's business starts generating significant revenue, that may be enough to win over growth investors and to send the eVTOL stock soaring.

Joby may be the riskiest stock on this list, but it's also the one that could command the highest valuation in the long run, given its popularity among retail investors.

Predicting what may or may not happen in the cannabis market isn't for the faint of heart. The industry continues to face several challenges. A quick look at the charts of some of the largest marijuana stocks over the last couple of years proves it.

However, my heart is feeling quite stout these days, so I'll step out on a limb with a prediction. I think Green Thumb Industries (GTBIF 0.49%) stock will double over the next three years. Ridiculous? Not really.

Image source: Getty Images.

About as blue chip as it comes in the U.S. cannabis industry While there aren't any true blue chip stocks in the U.S. cannabis industry, Green Thumb Industries is about as blue chip as you'll find. Its revenue continues to grow despite the aforementioned industry headwinds. The company consistently generates positive earnings and EBITDA. Its gross margins are strong.

Green Thumb's balance sheet is solid, too. At the end of 2025, the multistate cannabis operator had a cash position of $274.3 million. Its total debt was $244.9 million, including $142.5 million of senior debt. Granted, the company has subsequently expanded its syndicated credit facility by $50 million, but at a low rate.

The cannabis markets in which Green Thumb operates are among the most attractive in the U.S. Its 100+ RISE retail dispensaries are focused in states, including Illinois, Maryland, Massachusetts, Ohio, Pennsylvania, and Florida, that limit licenses, which reduces competition and supports pricing power to some extent.

Green Thumb's brands are strong as well. RYTHM, for example, ranks among the best-selling cannabis brands in the country. Dogwalker is also a top pre-roll brand.

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Potential catalysts What could propel Green Thumb to double in value over the next three years? The company has several potential catalysts.

The most obvious catalyst is federal reclassification of marijuana to a Schedule III drug (which reflects moderate to low potential for physical and psychological dependence). Importantly, rescheduling will remove the IRS Section 280E restrictions on cannabis companies' access to business tax deductions already available to most U.S. companies. This change could significantly boost Green Thumb's profits.

Federal reforms that open access for cannabis companies to traditional financial services could also light a fire beneath Green Thumb's stock. Although efforts such as the SAFE Banking Act haven't become law yet, the upcoming congressional elections could pave the way for passage in the not-too-distant future.

Gov. Josh Shapiro in Pennsylvania supports the legalization of recreational cannabis in his state. The state's legislature has rejected previous attempts to open a recreational marijuana market. However, the political winds could shift. If they do, Green Thumb is well-positioned to capitalize on a lucrative new opportunity in Pennsylvania.

Many multi-state operators are in precarious financial shape. We could see industry consolidation. Green Thumb, with its strong balance sheet, could acquire other companies at attractive valuations and possibly drive its earnings growth enough to help the stock deliver a 100% gain over the next three years.

There's one other possibility that I think could easily fuel a tremendous surge for Green Thumb. If the company is allowed to list its shares on a major U.S. stock exchange, its stock could realistically double, in my view.

One (green) thumb up All eight analysts surveyed by S&P Global (SPGI +0.51%) in April who cover Green Thumb rated the stock a "buy." The consensus 12-month price target reflects a potential upside of more than 130%. Analysts think this marijuana stock will double in a year, not three years as I predict.

Why am I not quite as bullish as they are? Valuation. Green Thumb's shares currently trade at roughly 41 times forward earnings. I think the stock will be a winner in the coming years, but I can only give it one green thumb up because of its price tag.

CHICAGO and VANCOUVER, British Columbia, May 04, 2026 (GLOBE NEWSWIRE) -- Green Thumb Industries Inc. (“Green Thumb” or the “Company”) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of RISE Dispensaries, today announced that it has submitted applications to the U.S. Drug Enforcement Administration (“DEA”) to register certain state-licensed medical cannabis operations under the expedited registration pathway created in connection with the recent rescheduling of medical marijuana to Schedule III of the Controlled Substances Act.

“Schedule III changes the future of medical cannabis in America, and Green Thumb is ready for what comes next,” said Green Thumb Founder, Chairman and Chief Executive Officer Ben Kovler. “Rescheduling recognizes what millions of patients have known for years, opens the door to more research, and begins to fix the punitive tax treatment that has held responsible operators back. By seeking DEA registration, Green Thumb is taking a practical step toward a more normalized, regulated federal industry. We look forward to discussing this milestone along with our first quarter results with investors this Wednesday, May 6.”

Green Thumb owns RISE Dispensaries across 14 U.S. markets and operates over 110 retail locations serving both medical patients and adult-use consumers. The Company manufactures and produces a leading and award-winning portfolio of branded products including RYTHM, incredibles, Dogwalkers, Beboe, &Shine, Doctor Solomon’s and Good Green.

First Quarter 2026 Earnings
Green Thumb will release its first quarter 2026 financial results after the market closes on Wednesday, May 6, 2026. A conference call and audio webcast will be held the same day at 5:00 p.m. Eastern Time / 4:00 p.m. Central Time to discuss results and answer questions.

Conference call: https://register-conf.media-server.com/register/BIda3caa0c54504f80b8e6b4f26b5f6ac3Audio webcast: https://edge.media-server.com/mmc/p/j2jak29q Participants can pre-register for their preferred method by using the link above and entering their contact information. Registrants will receive a phone number or webcast link and personalized PIN to listen in live. The recording will also be available after the call at https://investors.gtigrows.com/.

The Green Thumb investor presentation is also available at any time for more information on the Company. The presentation can be accessed at https://investors.gtigrows.com/news-events/events-presentations.

About Green Thumb Industries
Green Thumb Industries Inc. (“Green Thumb” or the “Company”) is a leading national cannabis consumer packaged goods company and retailer headquartered in Chicago, Illinois. The company manufactures and distributes a portfolio of branded cannabis products, some of which are licensed, including RYTHM, Dogwalkers, incredibles, Beboe, &Shine, Doctor Solomon’s and Good Green. Green Thumb also owns and operates RISE Dispensaries, a rapidly growing national retail chain with over 100 locations. Green Thumb serves millions of patients and customers each year with a mission to promote well-being through the power of cannabis while giving back to the communities it serves. Established in 2014, Green Thumb has manufacturing facilities and retail stores across 14 U.S. markets, employing approximately 5,000 people. More information is available at https://investors.gtigrows.com/.

Cautionary Note Regarding Forward-Looking Information
This press release contains statements which may constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information is often identified by the words “may,” “would,” “could,” “should,” “will,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “expect,” or similar expressions and include information licensing with the U.S. Drug Enforcement Administration (“DEA”), future tax treatment, and other implications of DEA registration, as well as the timing of future earnings releases. The forward-looking information in this news release is based upon the expectations of future events which management believes to be reasonable. Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, Green Thumb does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. The forward-looking information in this news release is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied. When considering these forward-looking statements, readers should keep in mind the risk factors and other cautionary statements in Green Thumb’s public filings with the applicable securities regulatory authorities, including with the U.S. Securities and Exchange Commission on its website at www.sec.gov and with Canada’s SEDAR+ at www.sedarplus.ca, as well as on Green Thumb’s website at https://investors.gtigrows.com, including in the “Risk Factors” section of the Company’s most recent Annual Report on Form 10-K.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.

Investor Contact:
Andy Grossman
EVP, Capital Markets & Investor Relations
[email protected] 
310-622-8257

Media Contact:
GTI Communications
[email protected]
Source: Green Thumb Industries Inc.

CHICAGO and VANCOUVER, British Columbia, May 06, 2026 (GLOBE NEWSWIRE) -- Green Thumb Industries Inc. (“Green Thumb” or the “Company”) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of RISE Dispensaries, today reported its financial results for the first quarter ended March 31, 2026. Financial results are reported in accordance with U.S. generally accepted accounting principles (“GAAP”), and all currency is in U.S. dollars.

Highlights for the first quarter ended March 31, 2026:

Revenue of $300.2 million, an increase of 7.4% over the same period in the prior year.Cash at quarter end totaled $344.5 million.GAAP net income of $15.4 million or $0.07 per basic and diluted share.Normalized EBITDA of $93.5 million or 31.2% of revenue.Cash flow from operations of $76.0 million.Repurchased approximately 6.0 million of the Company's Subordinate Voting Shares for $33.3 million.Increased syndicated credit facility by $50.0 million.
Subsequent to Quarter End

Conditionally awarded a Texas Compassionate Use Program license for vertically integrated operations.Repurchased approximately 7.4 million additional Subordinate Voting Shares, bringing 2026 year-to-date repurchases to approximately 13.4 million Subordinate Voting Shares for approximately $77.7 million. Since initiating its share repurchase programs in September 2023, the Company has repurchased approximately 29.0 million shares for approximately $200.0 million.Submitted registration applications with the U.S. Drug Enforcement Administration for certain state-licensed medical cannabis operations following the federal rescheduling of medical cannabis to Schedule III under the Controlled Substances Act.
See definitions and reconciliation of non-GAAP measures elsewhere in this release.

Management Commentary

“The Green Thumb team delivered a strong start to 2026, with first quarter revenue of $300 million, Normalized EBITDA of $94 million and cash flow from operations of $76 million,” said Green Thumb Founder, Chairman, and Chief Executive Officer Ben Kovler. “The recent federal action to reschedule medical cannabis from Schedule I to Schedule III is a historic step forward for our business, for investors, and for the country. Our conviction in Green Thumb remains as strong as ever, as reflected in the approximately 13.4 million shares we have repurchased so far this year. As the landscape around us continues to evolve, our team remains focused on disciplined execution and building for the future.”

Green Thumb President Anthony Georgiadis added, “With medical cannabis now rescheduled, the resulting Section 280E relief for the medical portion of our business creates meaningful flexibility to reinvest in our operations, our people, and the communities we serve. Consumer demand for THC continues to rise, and rescheduling helps create a more practical framework for companies like Green Thumb to meet that demand responsibly while continuing to grow and scale our business. Our team is ready for this next chapter in cannabis, and we look forward to continuing to serve patients and consumers while keeping momentum at the federal level toward broader reform and legalization.”

First Quarter 2026 Financial Overview

Total revenue for the first quarter was $300.2 million, up 7.4% from the prior year period. Overall retail revenue increased 4.7% versus the first quarter of 2025. Revenue growth in the first quarter was driven by retail sales in Minnesota, reflecting our launch of adult-use sales in the state on September 17, 2025, as well as continued growth in existing markets, particularly Connecticut and Florida, partially offset by price compression and increased competition. First quarter 2026 same store comparable sales (stores open at least 12 months) decreased 0.5% versus the prior year on a base of 100 stores.

Consumer Packaged Goods' gross revenue for the first quarter decreased by 1.6% versus the prior year period, primarily due to price compression and increased competition, partially offset by the launch of adult-use sales in Minnesota.

Gross profit for the first quarter 2026 was $143.6 million or 47.9% of revenue, compared to $143.3 million or 51.3% of revenue over the prior year period. The decline in gross margin was primarily driven by brand license fees incurred in the current period and price compression as discussed above.

Total selling, general and administrative expenses for the first quarter 2026 were $102.9 million or 34.3% of revenue, compared to $100.8 million or 36.1% of revenue for the first quarter 2025. The increase in selling, general, and administrative expenses was primarily attributable to increased compensation costs during the year.

Total other income (expense) for the first quarter 2026 was $22.4 million versus ($2.8) million for the comparable period in the prior year. Excluding a one-time arbitration settlement of $17 million and income associated with the Company's related party equity method investment of $6.5 million, total other income (expense) would have been ($1.1) million.

Net income attributable to the Company for the first quarter 2026 was $15.4 million or $0.07 per basic and diluted share, up from net income of $8.3 million, or $0.04 per basic and diluted share, in the prior year period. The increase in net income attributable to the Company was primarily due to the one-time arbitration settlement and the Company's related party equity method investment, as discussed above.

In the first quarter 2026, EBITDA was $73.1 million or 24.4% of revenue, versus $71.9 million or 25.7% of revenue for the comparable prior year period. Normalized EBITDA, which excludes licensing fees paid, non-cash stock-based compensation of $10.5 million, and other non-operating adjustments of $0.9 million, was $93.5 million or 31.2% of revenue, up from $85.2 million or 30.5% of revenue for the first quarter 2025.

For additional information on the non-GAAP financial measures discussed above, see “Non-GAAP Financial Information” below.

Balance Sheet and Liquidity

As of March 31, 2026, current assets were $673.9 million, including cash and cash equivalents of $344.5 million. Total debt outstanding was $289.9 million, which includes $188.8 million of senior debt.

Total basic and diluted weighted average shares outstanding for the three months ended March 31, 2026, were 230.6 million shares and 231.8 million shares, respectively.

Capital Allocation

During the first quarter 2026, the Company repurchased approximately 6.05 million Subordinate Voting Shares for a total amount of approximately $33.3 million, at an average price of $5.51 per share.

Subsequent to quarter end, the Company repurchased approximately 7.4 million additional Subordinate Voting Shares, bringing total repurchases since initiating its share repurchase program to approximately 29.0 million shares for approximately $200.0 million.

Non-GAAP Financial Information

This press release includes certain non-GAAP financial measures as defined by the U.S. Securities and Exchange Commission. Reconciliations of these non-GAAP financial measures to the most directly comparable financial measure calculated and presented in accordance with generally accepted accounting principles (“GAAP”) are included in the financial schedules attached to this press release. This information should be considered as supplemental in nature and not as a substitute for, or superior to, any measure of performance prepared in accordance with GAAP.

Definitions

EBITDA: Earnings before interest, taxes, other income or expense and depreciation and amortization.

Adjusted EBITDA: Earnings before interest, taxes, depreciation, and amortization, adjusted for other income, non-cash stock-based compensation, one-time transaction related expenses, or other non-operating costs.

Normalized EBITDA: Adjusted EBITDA plus brand license fees.

About Green Thumb Industries

Green Thumb Industries Inc. (“Green Thumb” or the “Company”) is a leading national cannabis consumer packaged goods company and retailer headquartered in Chicago, Illinois. The company manufactures and distributes a portfolio of branded cannabis products, some of which are licensed, including RYTHM, Dogwalkers, incredibles, Beboe, &Shine, Doctor Solomon’s, and Good Green. Green Thumb also owns and operates RISE Dispensaries, a rapidly growing national retail chain with over 110 locations. Green Thumb serves millions of patients and customers each year with a mission to promote well-being through the power of cannabis while giving back to the communities it serves. Established in 2014, Green Thumb has manufacturing facilities and retail stores across 14 U.S. markets, employing approximately 4,900 people. More information is available at https://gtigrows.com/.

Cautionary Note Regarding Forward-Looking Information

This press release contains statements that we believe are, or may be considered to be, “forward-looking statements.” All statements other than statements of historical fact included in this document regarding the prospects of our industry or our prospects, plans, financial position or business strategy may constitute forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking words such as “may,” “will,” “expect,” “intend,” “estimate,” “foresee,” “opportunity,” “project,” “potential,” “risk,” “anticipate,” “believe,” “plan,” “forecast,” “continue,” “suggests” or “could” or the negative of these terms or variations of them or similar terms or expressions of similar meaning. Furthermore, forward-looking statements may be included in various filings that we make with the Securities and Exchange Commission (the “SEC”), or oral statements made by or with the approval of one of our authorized executive officers. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot assure you that these expectations will prove to be correct. These forward-looking statements are subject to certain known and unknown risks and uncertainties, as well as assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements. These known and unknown risks include, without limitation: cannabis remains illegal under U.S. federal law, and enforcement of cannabis laws could change; future state regulation of cannabis is uncertain; the Company may not be able to obtain or maintain necessary permits and authorizations; the Company may face limitations on ownership of cannabis licenses; the Company may become subject to U.S. Food and Drug Administration or the U.S. Bureau of Alcohol, Tobacco, Firearms, and Explosives regulation; as a cannabis business, the Company is subject to applicable anti-money laundering laws and regulations and have restricted access to banking and other financial services; the Company may face difficulties acquiring additional financing; the Company operates in a highly regulated sector and may not always succeed in complying fully with applicable regulatory requirements in all jurisdictions where it conducts business; the Company faces intense competition; the Company faces competition from the illicit market as well as hemp products that are actually or purportedly compliant with the Agricultural Improvement Act of 2018 (the Farm Bill); the Company is dependent upon the popularity and consumer acceptance of its brand portfolio that the Company licenses from a third party; the Company has limited trademark protections; as a cannabis business, the Company is subject to unfavorable tax treatment and may incur significant tax liability; as a cannabis business, the Company may be subject to civil asset forfeiture; the Company is subject to proceeds of crime statutes; the Company faces exposure to fraudulent or illegal activity; the Company faces risks due to industry immaturity or limited comparable, competitive or established industry best practices; the Company faces risks related to its products; the Company’s business is subject to the risks inherent in agricultural operations; the Company faces an inherent risk of product liability and similar claims; the Company’s products may be subject to product recalls; the Company may face unfavorable publicity or consumer perception; the Company may be adversely impacted by rising or volatile energy costs and availability; the Company faces risks related to its information technology systems and potential cyber-attacks and security breaches; the Company relies on third-party software providers for numerous capabilities we depend upon to operate, and a disruption of one or more of these systems could adversely affect our business; the Company relies on the expertise of its management team and other employees experienced in the cannabis industry, and the loss of key personnel could negatively affect its business; the Company’s voting control is concentrated; the Company’s capital structure and voting control may cause unpredictability; and sales of substantial amounts Subordinate Voting Shares by the Company’s shareholders in the public market may have an adverse effect on the market price of the Company’s Subordinate Voting Shares. Further information on these and other potential factors that could affect the Company’s business and financial condition and the results of operations are included in the “Risk Factors” section of the Company’s most recent Annual Report on Form 10-K and elsewhere in the Company’s filings with the SEC, which are available (or will become available) on the SEC’s website, and on the Company’s SEDAR+ profile at www.sedarplus.ca, and at https://investors.gtigrows.com. Readers are cautioned not to place undue reliance on any forward-looking statements contained in this document, which reflect management’s opinions only as of the date hereof. Except as required by law, we undertake no obligation to revise or publicly release the results of any revision to any forward-looking statements. You are advised, however, to consult any additional disclosures we make in our reports to the SEC. All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements contained in this document.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.

Investor Contacts:

Media Contact:
GTI Communications
[email protected]

Source: Green Thumb Industries Inc.

Highlights from Unaudited Interim Condensed Consolidated Statements of Operations
For the Three Months Ended March 31, 2026 and 2025
(Amounts Expressed in Thousands of United States Dollars, Except for Share Amounts)

  Three Months Ended  March 31, 2026 March 31, 2025  (Unaudited) (Unaudited)     Revenues, Net of Discounts $300,190  $279,540 Cost of Goods Sold  (156,545)  (136,265)     Gross Profit  143,645   143,275      Expenses:    Total Expenses  102,911   100,793      Income From Operations  40,734   42,482      Other Income (Expense):    Other Income (Expense), Net  22,967   (24)Interest Income  4,603   2,123 Interest Expense, Net  (5,165)  (4,865)     Total Other Income (Expense)  22,405   (2,766)     Income Before Provision for Income Taxes And Non-Controlling Interest 63,139   39,716      Provision For Income Taxes  48,092   31,315      Net Income Before Non-Controlling Interest  15,047   8,401      Net (Loss) Income Attributable To Non-Controlling Interest  (350)  95      Net Income Attributable To Green Thumb Industries Inc.$15,397  $8,306      Net Income Per Share - Basic $0.07  $0.04      Net Income Per Share - Diluted $0.07  $0.04      Weighted Average Number of Shares Outstanding - Basic  230,596,682   236,120,511      Weighted Average Number of Shares Outstanding - Diluted  231,827,061   236,822,468           Green Thumb Industries Inc.
Highlights from the Unaudited Interim Condensed Consolidated Balance Sheet
(Amounts Expressed in Thousands of United States Dollars)

 March 31, 2026 (Unaudited)Cash and Cash Equivalents$344,512Other Current Assets 329,338Property and Equipment, Net 686,499Right of Use Assets, Net 237,728Intangible Assets, Net 424,108Goodwill 591,764Other Long-term Assets 217,657Total Assets$2,831,606Total Current Liabilities$194,155Notes Payable, Net of Current Portion and Debt Discount 266,344Lease Liabilities, Net of Current Portion 253,463Other Long-Term Liabilities 220,595Total Equity 1,897,049Total Liabilities and Equity$2,831,606    Green Thumb Industries Inc. 
Supplemental Information (Unaudited) Regarding Non-GAAP Financial Measures
For the Three Months Ended March 31, 2026 and 2025
(Amounts Expressed in Thousands of United States Dollars)

EBITDA and Adjusted EBITDA are non-GAAP measures and do not have standardized definitions under GAAP. We define each term as follows:

(1) EBITDA is defined as earnings before interest, taxes, other income or expense and depreciation and amortization.
(2) Adjusted EBITDA is defined as earnings before interest, taxes, depreciation, and amortization, adjusted for other income, non-cash share-based compensation, one-time transaction related expenses, or other non-operating (income) or costs.
(3) Normalized EBITDA is defined as Adjusted EBITDA plus brand license fees.

The following information provides reconciliations of the supplemental non-GAAP financial measures, presented herein to the most directly comparable financial measures calculated and presented in accordance with GAAP. The Company has provided the non-GAAP financial measures, which are not calculated or presented in accordance with GAAP, as supplemental information and in addition to the financial measures that are calculated and presented in accordance with GAAP. These supplemental non-GAAP financial measures are presented because management has evaluated the financial results both including and excluding the adjusted items and believes that the supplemental non-GAAP financial measures presented provide additional perspective and insights when analyzing the core operating performance of the business. These supplemental non-GAAP financial measures should not be considered superior to, as a substitute for or as an alternative to, and should be considered in conjunction with, the GAAP financial measures presented.

  Three Months Ended  March 31, 2026 March 31, 2025  (Unaudited) (Unaudited)Net Income Before Noncontrolling Interest (GAAP) $15,047  $8,401 Interest Income  (4,603)  (2,123)Interest Expense, Net  5,165   4,865 Provision for Income Taxes  48,092   31,315 Other (Income) Expense, net  (22,967)  24 Depreciation and Amortization  32,413   29,411 Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) (non-GAAP measure) $73,147  $71,893 Share-based Compensation, Non-Cash  10,517   10,309 Acquisition, Transaction, and Other Non-Operating (Income) Costs  870   3,045 Adjusted EBITDA (non-GAAP measure) $84,534  $85,247      License Fee recorded in Cost of Sales  8,978   — Normalized EBITDA (Non-GAAP Measure) $93,512  $85,247 

Green Thumb Industries reported strong Q1-2026 results last week with increasing revenue and improved net income. The company will benefit from the rescheduling of medical cannabis in the US. GTBIF stock price is up 35% over the last year.

For years, cannabis investors have waited for one catalyst capable of fundamentally changing the economics of the U.S. marijuana industry.

That wait may soon be over.

The Drug Enforcement Administration (DEA) rescheduled cannabis from a Schedule I substance to a Schedule III substance last month. This is a very big deal (Schedule 1 drugs are considered extremely dangerous with no medical use, while Schedule III substances are considered less dangerous and has some medical uses.)

The biggest immediate impact would be relief from Internal Revenue Service tax rule 280E, which currently prevents cannabis companies from deducting many normal business expenses from income.

For multi-state cannabis operators already generating hundreds of millions in revenue, that could dramatically improve profitability and free cash flow almost overnight. And two specific marijuana stocks stand out as potential winners: Green Thumb Industries (GTBIF 0.49%) and Curaleaf Holdings (CURLF 0.81%).

But which stock could benefit the most?

Green Thumb may already have the strongest financial foundation Green Thumb enters this potential rescheduling cycle from a position of unusual financial strength for the cannabis industry.

The company generated $1.2 billion in 2025 revenue, along with $348.4 million in normalized EBITDA (earnings before interest, taxes, depreciation, and amortization) and nearly $295 million in operating cash flow.

Even more important, Green Thumb remains consistently profitable under generally accepted accounting principles (GAAP) -- something very few major cannabis operators can claim.

In Q1 2026, Green Thumb reported:

Revenue of $300.2 million GAAP net income of $15.4 million Normalized EBITDA of $93.5 million Cash balance of $344.5 million Its normalized EBITDA margin reached 31%, which remains among the strongest in the U.S. cannabis industry.

This isn't a trivial data point because DEA rescheduling will likely amplify existing strengths.

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Green Thumb already operates efficiently despite the crushing burden of 280E taxes. Removing part of that burden could significantly expand earnings and cash generation.

Management has already openly discussed the opportunity, noting that rescheduling and resulting 280E relief will create "meaningful flexibility" to reinvest into operations and future growth.

The company also continues aggressively buying back stock. Since September 2023, Green Thumb has repurchased roughly 29 million shares for about $200 million. That's unusual in cannabis, where many competitors remain heavily dependent on equity sales that lead to dilution and debt refinancing.

Curaleaf has more scale and possibly more upside Curaleaf may not be as consistently profitable as Green Thumb, but it remains the largest cannabis operator in the world by revenue.

In Q1 2026, Curaleaf generated $324.2 million in revenue, including $47 million from international operations, which rose 35% year over year. Adjusted EBITDA reached $63.4 million with a 19.6% margin.

The company also recently refinanced debt through a new $500 million senior secured notes offering due in 2029.

But Curaleaf's biggest advantage may be its international footprint.

While Green Thumb remains heavily concentrated in the U.S., Curaleaf has been expanding aggressively into Europe, particularly Germany, where medical cannabis growth continues accelerating. The company recently acquired full ownership of its German subsidiary, Four 20 Pharma.

That diversification could become increasingly important if U.S. reform progresses slowly or inconsistently.

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At the same time, Curaleaf's margins remain meaningfully narrower than Green Thumb's, and the company still carries a more leveraged balance sheet, meaning the company relies more heavily on debt to fund growth and operations. That can boost returns when business is strong, but it also increases risk because those debt payments still have to be made even when cash flow weakens, or the industry hits a downturn.

That creates a different type of opportunity, though.

If 280E tax relief substantially improves industrywide profitability, companies with weaker margins and larger tax burdens could potentially see the biggest percentage improvement in earnings.

In other words, Curaleaf may have more operating leverage.

Image source: Getty Images.

Green Thumb looks like the safer execution story.

The company already generates strong cash flow, maintains one of the best balance sheets in cannabis, and has demonstrated consistent operational discipline during an extremely difficult period for the industry. Now that the DEA has rescheduled cannabis, Green Thumb could emerge as one of the clearest long-term institutional winners.

Curaleaf, however, may offer the higher-risk, higher-reward setup.

Its larger scale, international exposure, and historically lower profitability mean rescheduling could potentially create a more dramatic earnings swing if tax burdens fall substantially and capital access improves.

Both companies could benefit enormously from more complete federal reform, such as national legalization. But if you're looking for the cannabis stock best positioned to capitalize on DEA rescheduling immediately, Green Thumb appears to have the stronger foundation.