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First-Quarter 2026 Financial Summary

First-quarter net sales of $851.1 million, up 0.4% compared to the prior-year period, including a core revenue decrease of 2.9%. Net income attributable to shareholders of $59.7 million, or $0.23 per diluted share. Adjusted Net Income per diluted share of $0.35. Net income from continuing operations of $66.4 million, or a margin of 7.8%. Adjusted EBITDA of $177.4 million, or a margin of 20.8%. Reiterating 2026 full-year guidance. Gates Industrial Corporation plc (NYSE:GTES), a leading global provider of application-specific fluid power and power transmission solutions, today reported results for the first quarter ended March 28, 2026.

Ivo Jurek, Gates Industrial's Chief Executive Officer, commented, "We executed well in the first quarter, successfully implementing a new enterprise resource planning system in Europe and continuing to invest in strategic process and growth initiatives. We exited the quarter with solid order rates and our book to bill was nicely above 1. Our cash from operating activities increased compared to the prior year period and our balance sheet is well positioned to support our strategic objectives."

Jurek continued, "We have reiterated our financial guidance for 2026. I am optimistic about our core growth prospects in 2026 and our strong balance sheet provides us flexibility to strengthen the enterprise and drive shareholder value. I appreciate the effort and diligence of our global Gates team."

Power Transmission Segment Results

Three months ended

(USD in millions)

March 28, 2026

March 29, 2025

% Change

% Core Change

Net sales

$533.2

$527.2

1.1 %

(2.5 %)

Adjusted EBITDA

$112.0

$116.7

(4.0 %)

Adjusted EBITDA margin

21.0 %

22.1 %

(110 bps)

Fluid Power Segment Results

Three months ended

(USD in millions)

March 28, 2026

March 29, 2025

% Change

% Core Change

Net sales

$317.9

$320.4

(0.8 %)

(3.5 %)

Adjusted EBITDA

$65.4

$70.6

(7.4 %)

Adjusted EBITDA margin

20.6 %

22.0 %

(140 bps)

2026 Guidance

The Company is maintaining its full year financial guidance for 2026:

Core sales growth in the range of 1% to 4% year-over-year Adjusted EBITDA of $775 million to $835 million Adjusted Earnings Per Share of $1.52 to $1.68 Capital Expenditures of approximately $120 million Free Cash Flow conversion exceeding 90% Share-based metrics in the Company's guidance do not include the effect of any potential share repurchases.

Because GAAP financial measures on a forward-looking basis are not accessible, and reconciling information is not available without unreasonable effort, we have not provided reconciliations for forward-looking non-GAAP measures, including expected Core Sales Growth, Adjusted EBITDA, Adjusted Earnings per Share and Free Cash Flow conversion for 2026. For the same reasons, we are unable to address the probable significance of the unavailable information, which could be material to future results.

Conference Call and Webcast

Gates Industrial Corporation plc will host a conference call today at 10:00 a.m. Eastern Time to discuss the Company's financial results. The live webcast of the conference call and accompanying presentation materials can be accessed through Gates Industrial's website at investors.gates.com. For those unable to access the webcast, the conference call can be accessed by dialing (888) 414-4601 (domestic) or +1 (646) 960-0313 (international) and requesting the Gates Industrial Corporation First-Quarter 2026 Earnings Conference Call or providing the Conference ID of 5772067. An audio replay of the conference call can be accessed by dialing (800) 770-2030 (domestic) or +1 (647) 362-9199 (international), and providing the passcode 5772067, or by accessing Gates Industrial's website at investors.gates.com.

About Gates Industrial Corporation plc

Gates is a global manufacturer of innovative, highly engineered power transmission and fluid power solutions. Gates offers a broad portfolio of products to diverse aftermarket channel customers, and to original equipment manufacturers as specified components. Gates participates in many sectors of the industrial and consumer markets. Our products play essential roles in a diverse range of applications across a wide variety of end markets ranging from harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation. Our products are sold in more than 130 countries across our three commercial regions: the Americas; Europe, Middle East & Africa; and Asia Pacific.

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. In some cases, you can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "seeks," "predicts," "intends," "trends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. These statements include, but are not limited to, statements related to expectations regarding the performance of the Company's business and financial results (including our order rates, our growth prospects and our capital allocation opportunities), our ability to drive shareholder value and statements regarding our outlook for 2026. Such forward-looking statements are subject to various risks and uncertainties, including, among others, U.S. policies, actions or legislation (including the imposition of tariffs), economic, political and other risks associated with international operations (including as a result of the ongoing conflicts in the Middle East and their impact on supply chains, such as reduced availability of certain of our production materials and increased supply costs, and economic conditions), availability of raw materials or other manufacturing inputs at favorable prices in sufficient quantities, or at a given time,  changes in our relationships with, or the financial condition, performance, purchasing power or inventory levels of, of key channel partners, dependence on the continued operation of our manufacturing facilities, supply chains, distribution systems and information technology systems,  our ability to forecast demand or meet significant increases in demand and market acceptance of new product introductions and innovations. Additional factors that could cause the Company's results to differ materially from those described in the forward-looking statements can be found under the section entitled "Risk Factors" of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the Securities and Exchange Commission, as such factors may be updated from time to time in the Company's periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the Company's filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

Gates Industrial Corporation plc

Condensed Consolidated Statements of Operations

(Unaudited)

Three months ended

(USD in millions, except per share amounts)

March 28, 2026

March 29, 2025

Net sales

$          851.1

$          847.6

Cost of sales

513.1

503.0

Gross profit

338.0

344.6

Selling, general and administrative expenses

226.9

216.2

Transaction-related expenses

0.5

0.4

Asset impairments

—

0.6

Restructuring expenses

0.7

1.6

Operating income from continuing operations

109.9

125.8

Interest expense

29.9

29.6

Other expense

2.1

2.4

Income from continuing operations before taxes

77.9

93.8

Income tax expense

11.5

25.2

Net income from continuing operations

66.4

68.6

Loss on disposal of discontinued operations

0.2

0.3

Net income

66.2

68.3

Less: non-controlling interests

6.5

6.3

Net income attributable to shareholders

$           59.7

$           62.0

Earnings per share

Basic

Earnings per share from continuing operations

$           0.24

$           0.24

Earnings per share from discontinued operations

—

—

Earnings per share

$           0.24

$           0.24

Diluted

Earnings per share from continuing operations

$           0.23

$           0.24

Earnings per share from discontinued operations

—

—

Earnings per share

$           0.23

$           0.24

Gates Industrial Corporation plc

Condensed Consolidated Balance Sheets

(Unaudited)

(USD in millions, except share numbers and per share amounts)

As of
March 28, 2026

As of
December 31, 2025

Assets

Current assets

Cash and cash equivalents

$          785.3

$          812.1

Trade accounts receivable, net

799.6

744.2

Inventories

685.7

700.0

Taxes receivable

37.9

43.4

Prepaid expenses and other assets

180.9

181.8

Total current assets

2,489.4

2,481.5

Non-current assets

Property, plant and equipment, net

599.5

609.0

Goodwill

2,020.6

2,035.2

Pension surplus

7.6

7.6

Intangible assets, net

1,158.7

1,192.4

Right-of-use assets

152.0

137.1

Taxes receivable

1.1

5.4

Deferred income taxes

636.3

640.0

Other non-current assets

49.8

43.2

Total assets

$        7,115.0

$        7,151.4

Liabilities and equity

Current liabilities

Debt, current portion

$           30.9

$           36.2

Trade accounts payable

396.9

433.7

Taxes payable

18.6

27.0

Accrued expenses and other current liabilities

232.1

238.5

Total current liabilities

678.5

735.4

Non-current liabilities

Debt, less current portion

2,197.6

2,196.3

Post-retirement benefit obligations

63.1

68.8

Lease liabilities

135.5

124.5

Taxes payable

63.2

62.1

Deferred income taxes

43.8

49.3

Other non-current liabilities

205.5

225.8

Total liabilities

3,387.2

3,462.2

Shareholders' equity

—Shares, par value of $0.01 each - authorized shares: 3,000,000,000; outstanding shares:
253,862,978 (December 31, 2025: authorized shares: 3,000,000,000; outstanding shares:
253,543,540)

2.5

2.6

—Additional paid-in capital

2,631.4

2,633.3

—Accumulated other comprehensive loss

(925.4)

(917.1)

—Treasury shares

(16.5)

(37.5)

—Retained earnings

1,674.9

1,652.7

Total shareholders' equity

3,366.9

3,334.0

Non-controlling interests

360.9

355.2

Total equity

3,727.8

3,689.2

Total liabilities and equity

$        7,115.0

$        7,151.4

Gates Industrial Corporation plc

Condensed Consolidated Statements of Cash Flows

(Unaudited)

Three months ended

(USD in millions)

March 28,
2026

March 29,
2025

Cash flows from operating activities

Net income

$           66.2

$           68.3

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

55.7

52.2

Foreign exchange and other non-cash financing income

(8.9)

(8.2)

Share-based compensation expense

6.3

6.1

Decrease in post-employment benefit obligations, net

(0.2)

(3.0)

Deferred income taxes

(9.3)

(3.1)

Asset impairments

—

0.6

Other operating activities

0.8

2.6

Changes in operating assets and liabilities:

—Accounts receivable

(59.2)

(47.3)

—Inventories

9.3

(15.4)

—Accounts payable

(34.1)

3.1

—Prepaid expenses and other assets

8.3

(22.3)

—Taxes payable

7.2

8.5

—Other liabilities

(11.9)

(34.8)

Net cash provided by operating activities

30.2

7.3

Cash flows from investing activities

Purchases of property, plant and equipment

(16.7)

(17.5)

Purchases of intangible assets

(4.8)

(8.7)

Cash paid under company-owned life insurance policies

(10.6)

(7.0)

Cash received under company-owned life insurance policies

3.7

0.5

Proceeds from the sale of property, plant and equipment

1.3

2.0

Other investing activities

(0.1)

(0.3)

Net cash used in investing activities

(27.2)

(31.0)

Cash flows from financing activities

Issuance of shares

0.5

1.8

Repurchase of shares

(16.6)

(13.0)

Payments of long-term debt

—

(4.7)

Employee taxes paid from shares withheld

(8.6)

(11.5)

Dividends paid to non-controlling interests

—

(2.3)

Other financing activities

(0.4)

5.1

Net cash used in financing activities

(25.1)

(24.6)

Effect of exchange rate changes on cash and cash equivalents and restricted cash

(4.7)

6.6

Net decrease in cash and cash equivalents and restricted cash

(26.8)

(41.7)

Cash and cash equivalents and restricted cash at the beginning of the period

815.0

684.8

Cash and cash equivalents and restricted cash at the end of the period

$          788.2

$          643.1

Supplemental schedule of cash flow information

Interest paid

$           32.0

$           36.5

Income taxes paid

$           13.7

$           19.7

Accrued capital expenditures

$             2.6

$             1.1

Non-GAAP Financial Measures

This press release includes certain non-GAAP financial measures, which management believes are useful to investors, securities analysts and other interested parties. Management uses Adjusted EBITDA as its key profitability measure. This is a non-GAAP measure that represents EBITDA before certain items that impact comparison of the performance of our business either period-over-period or with other businesses. We use Adjusted EBITDA as our measure of segment profitability to assess the performance of our businesses, and it is used for consolidated Gates as well because we believe it is important to consider our total profitability on a basis that is consistent with that of our operating segments. Adjusted EBITDA Margin is Adjusted EBITDA for a particular period expressed as a percentage of net sales for that period.

Management uses Adjusted Net Income as an additional measure of profitability. Adjusted Net Income is a non-GAAP measure that represents net income attributable to shareholders before certain items that impact comparison of the performance of our business, either period-over-period or with other businesses. Beginning with the three months ended June 29, 2024, we revised our definition of Adjusted Net Income to adjust for discrete tax items, which are significant, unusual or infrequently occurring tax items. We have revised the prior period amounts to conform to our current period presentation.

Management uses Adjusted Gross Profit as an additional measure of operating performance. Adjusted Gross Profit is a non-GAAP measure that represents gross profit before certain items that impact the comparability of our results, such as restructuring costs and inventory adjustments, specific to the remeasurement of certain inventories on a Last-in-First-out ("LIFO") basis. Adjusted Gross Profit margin is Adjusted Gross Profit expressed as a percentage of sales. We use Adjusted Gross Profit and Adjusted Gross Profit margin because it provides insight into the underlying profitability of our core operations by excluding items that are not indicative of ongoing business performance.

Core sales is a non-GAAP measure that represents net sales for the period excluding the impacts of movements in average currency exchange rates and the first-year impacts of acquisitions and disposals, when applicable. Core sales growth is the change in core sales expressed as a percentage of prior period net sales. We present core sales growth because it allows for a meaningful comparison of year-over-year performance without the volatility caused by foreign currency gains or losses, or the incomparability that would be caused by the impact of an acquisition or disposal.

Management uses Free Cash Flow to measure cash generation. Free Cash Flow is a non-GAAP measure that represents net cash provided by operations less capital expenditures. Free Cash Flow Conversion is a measure of Free Cash Flow expressed as a percentage of Adjusted Net Income. We use this metric as a measure of the success of our business in converting Adjusted Net Income into cash.

These non-GAAP financial measures should be considered only as supplemental to, and not as superior to, financial measures prepared in accordance with GAAP. Please see below for a reconciliation of historical non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with GAAP.

Gates Industrial Corporation plc

Reconciliation of Net Income from Continuing Operations to Adjusted EBITDA

(Unaudited)

Three months ended

(USD in millions)

March 28, 2026

March 29, 2025

Net income from continuing operations before taxes

$         66.4

$         68.6

Adjusted for:

Income tax expense

11.5

25.2

Interest expense

29.9

29.6

Depreciation and amortization

55.7

52.2

Transaction-related expenses (1)

0.5

0.4

Asset impairments

—

0.6

Restructuring expenses 

0.7

1.6

Share-based compensation expense

6.3

6.1

Inventory impairments and adjustments (2) (included in cost of sales)

4.0

(1.0)

Restructuring related expenses (included in cost of sales)

2.5

1.2

Restructuring related expenses (included in SG&A)

1.3

1.5

Other expenses (income), excluding foreign currency transaction gain or loss and
insurance recoveries(3)

(1.4)

1.3

Adjusted EBITDA

$        177.4

$        187.3

Net Sales

$        851.1

$        847.6

Net income from continuing operations margin

7.8 %

8.1 %

Adjusted EBITDA Margin

20.8 %

22.1 %

(1)

Transaction-related expenses relate primarily to advisory fees and other costs recognized in respect of major corporate transactions, including the acquisition of businesses, and equity and debt transactions.

(2)

Inventory adjustments include the reversal of the adjustment to remeasure certain inventories on a Last-in-First-out ("LIFO") basis.

(3)

Other expenses (income) excludes foreign currency transaction losses of $3.5 million for the three months ended March 28, 2026; foreign currency transaction loss of $1.1 million for the three months ended March 29, 2025.

Gates Industrial Corporation plc

Reconciliation of Net Income Attributable to Shareholders to Adjusted Net Income

(Unaudited)

Three months ended

(USD in millions, except share numbers and per share amounts)

March 28, 2026

March 29, 2025

Net income attributable to shareholders

$           59.7

$           62.0

Adjusted for:

Loss on disposal of discontinued operations

0.2

0.3

Amortization of intangible assets arising from the 2014 acquisition of Gates

29.3

28.3

Transaction-related expenses (1)

0.5

0.4

Asset impairments

—

0.6

Restructuring expenses (2)

0.7

1.6

Restructuring related expenses (included in cost of sales)

2.5

1.2

Restructuring related expenses (included in SG&A)

1.3

1.5

Share-based compensation expense

6.3

6.1

Inventory impairments and adjustments (3) (included in cost of sales)

4.0

(1.0)

Adjustments relating to post-retirement benefits

5.4

0.4

Financing and other FX related losses

(4.6)

3.2

Discrete tax items (4)

(6.3)

0.1

Other adjustments

(1.4)

(1.3)

Estimated tax effect of the above adjustments

(8.9)

(9.5)

Adjusted Net Income

$           88.7

$           93.9

Diluted weighted-average number of shares outstanding

256,872,424

261,567,906

Adjusted Net Income per diluted share

$           0.35

$           0.36

(1)

Transaction-related expenses related primarily to advisory fees and other costs recognized in respect of major corporate transactions, including the acquisition of businesses, and equity and debt transactions.

(2)

Restructuring expenses represent items qualifying for recognition as such under U.S. GAAP and included costs related to the closure of lines of business, facility closures and consolidations, fundamental organizational rationalizations and non-recurring employee severance related to such actions.

(3)

Inventory adjustments include the reversal of the adjustment to remeasure certain inventories on a Last-in-First-out ("LIFO") basis.

(4)

Discrete tax items include changes in uncertain tax positions relating to prior years, changes in tax laws or rates, changes in valuation allowances, excess tax benefits on stock option exercises, and prior year adjustments in various foreign jurisdictions in which returns were filed.

Gates Industrial Corporation plc

Reconciliation of Gross Profit to Adjusted Gross Profit

(Unaudited)

Three months ended

(USD in millions)

March 28,
2026

March 29,
2025

Net sales

$        851.1

$        847.6

Cost of sales

513.1

503.0

Gross Profit

338.0

344.6

Inventory adjustments (1) (included in cost of sales)

4.0

(1.0)

Restructuring related expenses (included in cost of sales)

2.5

1.2

Adjusted Gross Profit

344.5

344.8

Gross Profit margin

39.7 %

40.7 %

Adjusted Gross Profit margin

40.5 %

40.7 %

(1)

Inventory adjustments include the reversal of the adjustment to remeasure certain inventories on a Last-in-First-out ("LIFO") basis.

Gates Industrial Corporation plc

Reconciliation of Net Sales to Core Sales Growth

(Unaudited)

Three months ended March 28, 2026

(USD in millions)

Power
Transmission

Fluid Power

Total

Net sales for the three months ended March 28, 2026 (1)

$        533.2

$        317.9

$        851.1

Impact on net sales of movements in currency rates

(19.2)

(8.7)

(27.9)

Core sales for the three months ended March 28, 2026

$        514.0

$        309.2

$        823.2

Net sales for the three months ended March 29, 2025

527.2

320.4

847.6

Increase (decrease) in net sales

6.0

(2.5)

3.5

Decrease in net sales on a core basis (core sales)

$        (13.2)

$        (11.2)

$        (24.4)

Net sales increase (decrease)

1.1 %

(0.8 %)

0.4 %

Core sales decrease

(2.5 %)

(3.5 %)

(2.9 %)

(1)

Throughout this document the terms "net sales" and "revenue" are used interchangeably in reference to the GAAP measure "net sales."

SOURCE Gates Industrial Corporation plc

Action consistent with company's portfolio 80/20 approach Expected to improve adjusted EBITDA margins of Industrial Motion segment , /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a global technology leader in engineered bearings and industrial motion, today announced that it has entered into a definitive agreement to sell the assets of its belts business to Gates Industrial Corporation plc (NYSE: GTES). Financial terms of the agreement were not disclosed.

"The sale of our belts business is consistent with our near-term strategic priorities and our 80/20 approach to structurally improve margins, grow faster in the most profitable verticals and create value for shareholders," said Lucian Boldea, president and chief executive officer. "We are applying this same rigor across our portfolio to ensure we leverage our core competencies where they drive the greatest impact."

The belts business manufactures a comprehensive line of belts used in industrial, commercial and consumer applications.

"I want to thank our dedicated belts colleagues for their contributions over the years," Boldea said. "Gates is a global leader in power transmission products with a strong reputation for innovation and quality, and we are confident that Gates is the right owner to guide this business forward."

The divestiture of the belts business is expected to improve the adjusted EBITDA margins of the Industrial Motion segment. The company plans to provide the estimated impact to margins at its upcoming Investor Day on May 20. 

Proceeds from the divestiture are intended to be used to fund the company's capital allocation priorities. The transaction is expected to close in the third quarter of 2026 and is subject to customary closing conditions.

About The Timken Company

The Timken Company (NYSE: TKR; www.timken.com), a global technology leader in engineered bearings and industrial motion, designs a growing portfolio of next-generation products for diverse industries. For more than 125 years, Timken has used its specialized expertise to innovate and create customer-centric solutions that increase reliability and efficiency. Timken posted $4.6 billion in sales in 2025 and employs approximately 19,000 people globally, operating from 45 countries.

Certain statements in this release (including statements regarding the company's forecasts, estimates, plans and expectations) that are not historical in nature are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, the statements related to expectations regarding the company's future financial performance are forward-looking.

The company cautions that actual results may differ materially from those projected or implied in forward-looking statements due to a variety of important factors, including: fluctuations in customer demand for the company's products or services; unanticipated changes in business relationships with customers or their purchases from the company; changes in the financial health of the company's customers, which may have an impact on the company's revenues, earnings and impairment charges; logistical issues associated with port closures, delays or increased costs; the impact of changes to the company's accounting methods; political risks associated with government instability; recent world events that have increased the risks posed by international trade disputes, tariffs, sanctions and hostilities; strained geopolitical relations between countries in which we have significant operations; weakness in global or regional general economic conditions and capital markets (as a result of financial stress affecting the banking system or otherwise); changes in wages, shipping costs, raw material costs, energy and fuel prices, and other production costs; changes in customer demand or tariff rates and other costs associated with tariffs; the company's ability to satisfy its obligations under its debt agreements and renew or refinance borrowings on favorable terms; fluctuations in currency valuations or interest rates; changes in the expected costs associated with product warranty claims; the ability to achieve satisfactory operating results in the integration of acquired companies, including realizing any accretion, synergies, and expected cashflow generation within expected timeframes or at all; the company's ability to effectively adjust prices for its products in response to changing dynamics; the impact on the company's pension obligations and assets due to changes in interest rates, investment performance and other tactics designed to reduce risk; the introduction of new disruptive technologies, such as artificial intelligence; unplanned plant shutdowns; the effects of government-imposed restrictions, commercial requirements, and company goals associated with climate change and emissions or other sustainability initiatives; unanticipated litigation, claims, investigations remediation, or assessments; the rapidly evolving global regulatory landscape and the corresponding heightened operational complexity and compliance risks; restrictions on the use of, or claims or remediation associated with, per- and polyfluoroalkyl substances or polytetrafluoroethylene; the company's ability to maintain positive relations with unions and works councils; the company's ability to compete for skilled labor and to attract, retain and develop management, other key employees, and skilled personnel; negative impacts to the company's operations or financial position as a result of pandemics, epidemics, or other public health concerns and associated governmental measures; and the company's ability to complete and achieve the benefits of announced plans, programs, initiatives, acquisitions, capital investments, and cost reduction actions. Additional factors are discussed in the company's filings with the Securities and Exchange Commission, including the company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, quarterly reports on Form 10-Q and current reports on Form 8-K. Except as required by the federal securities laws, the company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Media Relations:
Sarah Factor
234.262.4878
[email protected]

Investor Relations:
Neil Frohnapple
234.262.2310
[email protected]

SOURCE The Timken Company

For the quarter ended March 2026, Gates Industrial (GTES - Free Report) reported revenue of $851.1 million, up 0.4% over the same period last year. EPS came in at $0.35, compared to $0.36 in the year-ago quarter.

The reported revenue represents a surprise of -1.24% over the Zacks Consensus Estimate of $861.74 million. With the consensus EPS estimate being $0.32, the EPS surprise was +9.38%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

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

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

Net Sales- Fluid Power: $317.9 million versus the two-analyst average estimate of $324.16 million. The reported number represents a year-over-year change of -0.8%.Net Sales- Power Transmission: $533.2 million versus the two-analyst average estimate of $537.59 million. The reported number represents a year-over-year change of +1.1%.Adjusted EBITDA- Fluid Power: $65.4 million compared to the $66.45 million average estimate based on two analysts.Adjusted EBITDA- Power Transmission: $112 million versus the two-analyst average estimate of $111.2 million.View all Key Company Metrics for Gates Industrial here>>>

Shares of Gates Industrial have returned +16.2% over the past month versus the Zacks S&P 500 composite's +10.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES), a global manufacturer of innovative, highly engineered power transmission and fluid power solutions, today announced that the Company will attend the 19th Annual Wolfe Research Global Transportation & Industrials Conference in New York City on Tuesday, May 19, 2026. Ivo Jurek, Chief Executive Officer, will present at 9:45 AM Eastern Time.  

To listen to a live webcast of the announced presentations, please visit the Events & Presentations section of the Gates Investor Relations website at investors.gates.com and click on the event webcast link.

About Gates Industrial Corporation plc:

Gates is a global manufacturer of innovative, highly engineered power transmission and fluid power solutions. Gates offers a broad portfolio of products to diverse replacement channel customers, and to OEMs as specified components. Gates participates in many sectors of the industrial and consumer markets. Our products play essential roles in a diverse range of applications across a wide variety of end markets ranging from harsh and hazardous industries to everyday consumer applications including virtually every form of transportation. Our products are sold in more than 130 countries across our four commercial regions: the Americas; Europe, Middle East & Africa; Greater China; and East Asia & India.

SOURCE Gates Industrial Corporation plc

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Here is how Gates Industrial (GTES) and Vestis (VSTS) have performed compared to their sector so far this year.

GitLab Inc. (GTLB) came out with quarterly earnings of $0.23 per share, beating the Zacks Consensus Estimate of $0.2 per share. This compares to earnings of $0.17 per share a year ago.

GitLab Inc. (GTLB) Q1 2027 Earnings Call Transcript

GitLab (NASDAQ:GTLB) reported first quarter financial results that exceeded Wall Street expectations for revenue and earnings, but shares fell about 4%...

Developer platform GitLab has laid off about 14% of its workforce, about 350 employees, as part of a broader restructuring effort it detailed last month.

The company said in May that it was going to reduce its workforce as it exited 22 countries, flattened management layers, and invested in infrastructure to scale its platform and serve increased traffic from AI workflows, with a sharper focus on research and development.

CEO Bill Staples said during a conference call on Tuesday that agentic workloads are stressing developer infrastructure more than it was designed to handle. It isn’t a problem unique to GitLab. The company’s rival GitHub has itself struggled to deal with a massive influx of AI-powered submissions that have affected its uptime.

“Agents work at machine scale, and they’re pushing competitors to the brink. This quarter we began a generational rebuild of git to support the scale and features required for 100x growth. This is a scale requirement that didn’t exist before and has become a real pain point for every team on their agentic journey,” Staples said.

Staples said the company has partnered with an unspecified AI lab to design and rebuild its infrastructure for AI workloads, as well as construct APIs “optimized for agents to store and retrieve context, including code.” It is also investing in orchestration tools for coordinating software development between AI agents and developers, building a context layer, and baking in governance tools directly into its platform.

GitLab joins a number of tech companies such as Intuit, Amazon, Block, Cisco, Cloudflare, Meta, Microsoft, and Oracle that have laid off large numbers of employees, citing a need to make AI a core part of their business. The tech industry has already cut more than 100,000 jobs this year, per Statista, and is on track to outpace both 2024 and 2025 if the layoff trend continues.

The pattern is by now familiar: Companies are reporting record revenues while simultaneously shrinking their workforces, with AI cited as both the reason for the growth and the justification for the cuts.

Indeed, all of these companies have recently reported strong revenue and profit, pointing to strong demand for AI products, services, or the infrastructure to power them, and GitLab is no exception.

On Tuesday, the company reported first-quarter revenue of $264 million, up 23% from a year earlier, and gross margins of 88%. It expects to incur $30 million to $35 million in restructuring expenses as part of the effort.

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Needham Sees Strong AI Growth Ahead For GitLabNeedham analyst Mike Cikos maintained a Buy rating on GitLab and raised the price forecast from $32 to $38.

Cikos said GitLab only carried part of its quarterly outperformance into its fiscal 2027 outlook due to macro headwinds and potential near-term disruption from its Act 2 restructuring.

He said gross bookings growth accelerated to its highest level in four quarters, GitLab Dedicated topped $70 million in ARR, and Ultimate reached 57% of ARR.

Cikos also said Duo Agent Platform showed strong early adoption, with a paid consumption run rate near $20 million.

GitLab expects $30 million to $35 million in fiscal 2027 restructuring cash expenses, including $19 million in the second quarter, while cutting 14% of staff, or about 350 employees.

BTIG Says Duo Agent Platform Gains MomentumBTIG analyst Nick Altmann maintained a Buy rating on GitLab and raised the price forecast from $30 to $36.

Altmann said GitLab delivered a solid quarter despite several moving parts.

He said revenue grew 23%, about 400 basis points above consensus, while GitLab modestly raised its fiscal 2027 growth outlook to about 16.7% at the midpoint.

Altmann said Duo Agent Platform is gaining momentum, with paid consumption run rate reaching about $20 million.

He said DAP contributed more net new ARR than Duo Pro and Duo Enterprise combined in any prior quarter.

Altmann also said the company's 14% workforce reduction clears part of the path forward, while fiscal 2027 operating margin guidance rose about 40 basis points to 12.4%.

Altmann said GitLab's agentic AI story remains the main swing factor for growth durability and a broader share rerating.

DA Davidson Cites Macro Risks Despite BeatDA Davidson analyst Lucky Schreiner maintained a Neutral rating on GitLab and raised the price forecast from $24 to $35.

Schreiner said GitLab delivered an above-average revenue beat and showed early traction for Duo Agent Platform.

He said fiscal first-quarter revenue beat consensus by about $10 million as growth stabilized at 23%.

The company guided fiscal 2027 revenue to $1.115 billion at the midpoint, implying about 17% growth.

Schreiner said SaaS outperformance and early DAP adoption helped the quarter, but macro pressure, price-sensitive customers representing 20% of ARR, and customer headcount reductions still limit near-term upside.

He said fiscal 2027 adjusted operating income guidance rose by $5 million to $138 million, while second-quarter revenue guidance of $273 million matched consensus and implied 16% year-over-year growth.

Guggenheim Questions Long-Term AI ImpactGuggenheim analyst Howard Ma reiterated a Neutral rating on GitLab after the company delivered stable first-quarter revenue growth and raised its full-year outlook.

Ma said GitLab's first-quarter revenue rose 23% year over year to $264 million, topping consensus, while adjusted operating income reached $38 million, or a 14% margin.

He said Duo Agent Platform showed early promise, with an annualized consumption run rate of $20 million, but added that it remains unclear how material the product can become.

Ma also flagged continued pressure from price-sensitive customers, tech layoffs, M&A-related churn, and weaker net adds among customers with ARR of more than $5,000.

Ma said GitLab could modestly beat guidance, projecting fiscal 2027 revenue of $1.134 billion, up 19%, and an operating margin of about 15% versus the company's 12.4% guidance.

GitLab Price ActionGTLB Price Action: GitLab shares were down 2.14% at $31.14 at the time of publication on Wednesday, according to Benzinga Pro data.

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SAN FRANCISCO--(BUSINESS WIRE)--All Remote - GitLab Inc., the intelligent orchestration platform for DevSecOps, today announced GitLab Transcend, a hybrid event for technology and engineering leaders taking place June 10-11, 2026. GitLab will introduce the latest and upcoming platform updates designed to power agentic engineering at enterprise scale, delivering speed with control across the entire software lifecycle. Event Details WHAT: GitLab Transcend, a virtual event for technology and engin.

GitLab Inc. (GTLB) Presents at Bank of America 2026 Global Technology Conference Transcript

Although its shares have bounced from their lows, GitLab (GTLB 1.94%) stock failed to keep its momentum when the company reported its fiscal first-quarter results after the bell on June 2. The DevSecOps (development, security, and operations) company has been caught in the narrative that it will be an AI loser, despite continuing to deliver strong revenue growth. The stock has lost about a third of its value over the past year.

Let's take a closer look at its results and prospects to determine if the growth stock is a buy, or if it's time for investors to give up on the name.

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Solid growth continues GitLab saw solid growth in fiscal Q1, coming from both new and existing customers. It realized a 30% increase in new logo growth -- i.e., acquiring new customers -- in the quarter, while its dollar-based net retention was 117% over the past 12 months, showing strong growth within its customer base. The company said it was seeing rising demand from non-technical users, while it also recorded nearly $20 million in consumption revenue from its Duo Agentic Platform.

Overall revenue climbed 23% year over year to $264.2 million. That was well above the company's guidance for revenue of $253 million to $255 million. Subscription revenue increased by 23% year over year to $239.3 million, while license revenue jumped by 25% to $24.9 million.

The company continues to focus on enterprise customers, where it is seeing the strongest growth. The number of customers with $100,000 or more in annual recurring revenue (ARR) rose by 18% to 1,519, making up 75% of its ARR. Meanwhile, customers with $5,000 or more in ARR now represent 95% of its business.

Looking ahead, GitLab upped its full-year guidance. It now expects full-year fiscal 2027 revenue of $1.112 billion to $1.118 billion, representing growth of 16% to 17%, and adjusted earnings per share (EPS) in the range of $0.79 to $0.82. That's up from a prior forecast for revenue of $1.099 billion to $1.118 billion and adjusted EPS of $0.76 to $0.80.

For fiscal Q2, it forecast revenue to be between $272 million and $274 million, representing approximately 16% growth at the midpoint. It guided for adjusted EPS of between $0.17 and $0.18.

The company also announced that it is slashing about 14% of its workforce and exiting 22 countries as it flattens its organizational structure. This will not impact sales rep numbers, which it has been increasing. It expects the impact of more quota-carrying sales reps to start to have a positive impact in the second half of the year.

Image source: Getty Images.

Is it time to buy the stock? GitLab continues to produce solid growth, although management maintains a conservative tone as it continues to make organizational changes. The new logo growth was encouraging, and its switch to a hybrid seat-plus consumption pricing model (combining a fixed, recurring per-user fee with variable charges based on product usage) with its Duo Agent Platform (which requires consumption credits) appears to be paying early dividends. Meanwhile, the company is set to get in on the popular trend of offering flexible credits with the introduction of GitLab Flex.

The stock remains unloved, leaving it with an attractive price-to-sales multiple of just 4.1 based on fiscal 2027 (ending January 2027) analyst estimates, despite being a company flush with cash and growing its revenue at a solid clip. I continue to believe the company has a highly valuable platform and is undervalued, and as such I'd be a buyer of the stock at these levels.

SAN FRANCISCO--(BUSINESS WIRE)--All Remote - GitLab Inc., the intelligent orchestration platform for DevSecOps, today announced new capabilities at GitLab Transcend to give engineering teams the infrastructure, context, and controls to run agent-driven software delivery at enterprise scale. As engineering teams scale agent activity, the infrastructure, governance, and commercial models built for human-speed delivery are showing strain. The four capabilities announced today address the bottlenec.

Key Takeaways LPL Financial posted Q1 adjusted earnings of $5.60, beating estimates, as revenues rose 35% to $4.97B.Advisory revenues jumped 55% to $2.62B and drove gross profit up 25% to $1.59B.LPLA client assets reached $2.34T; advisory net new assets were $25.8B, while brokerage was -$4.4B. LPL Financial Holdings Inc.’s (LPLA - Free Report)  first-quarter 2026 adjusted earnings of $5.60 per share topped the Zacks Consensus Estimate of $5.49. Adjusted earnings rose 9% year over year.

Quarterly revenues came in at $4.97 billion, up 35.4% from the year-ago quarter. The top line marginally missed the consensus estimate of $4.98 billion.

The quarter reflected continued scale benefits, highlighted by a rise in revenues and growth in total client assets. An increase in expenses hampered the results to some extent.

LPLA’s Revenue Mix Benefits From Advisory GrowthAdvisory revenues soared 55% year over year to $2.62 billion, remaining the largest contributor to the top line. Commissions also grew, with total commissions rising 14% to $1.19 billion, supported by gains in both sales-based and trailing activity compared with the prior-year period.

Asset-based revenues totaled $820.8 million, up 18% year over year, as client cash revenue climbed 14% to $445.3 million and other asset-based revenues advanced 24% to $375.5 million. Service and fee revenues surged 45% to $211.0 million, while transaction revenues improved 19% to $80.5 million, reflecting higher activity levels and continued expansion in the advisor and account base.

LPL Financial Sees Gross Profit ExpansionLPL Financial’s gross profit rose 25% from a year ago to $1.59 billion, benefiting from the sharp increase in advisory revenues and improved attachment revenue streams. The strength in gross profit was an important driver behind the adjusted earnings beat and helped offset ongoing investment spending across the platform.

LPLA’s production-based payout totaled $3.32 billion, reflecting continued growth in advisor activity and the economics tied to advisory and commission revenues. The payout rate was 87.22%, up from 86.75% in the year-ago quarter, pointing to a modestly higher payout as the business scales, even as gross profit expanded meaningfully.

LPLA’s Costs Rise as Core G&A ClimbsTotal expenses increased 37% year over year to $4.45 billion, illustrating the cost of supporting rapid growth and onboarding-related activity. Advisory and commission expenses climbed 40% to $3.29 billion, consistent with the higher revenue base generated in the quarter.

Beyond production-related costs, several corporate expense categories moved higher. Additionally, core G&A increased 29% to $532.0 million, highlighting continued investment in capabilities and scale initiatives.

LPL Financial Delivers Solid Asset FlowsLPL Financial ended the quarter with $2.34 trillion of total client assets, up 30% from the prior-year period. Advisory assets rose 42% to $1.39 trillion, and represented 59.5% of total client assets. This reinforces the ongoing mix shift toward fee-based advisory. Brokerage assets grew 16% from the prior-year quarter to $945.9 million.

Asset flows were positive, though the composition was mixed. Total organic net new assets were $21.4 billion. Within that, advisory organic net new assets were $25.8 billion, while brokerage organic net new assets were negative $4.4 billion.

Recruited assets were $17.4 billion, down 55% from the year-ago quarter, though recruited assets over the trailing 12 months were $83 billion, indicating a larger pipeline over a longer horizon.

LPLA Updates 2026 Expense Outlook and Capital PlansOn the outlook front, LPLA lowered the upper end of its 2026 Core G&A outlook by $20 million to a range of $2.155-$2.190 billion, including expenses related to the Commonwealth acquisition. This adjustment reflects performance to date and the company’s efforts to balance growth investments with improving operating leverage.

Capital actions also returned to focus. The board declared a 30-cent per share dividend, which will be paid out on June 4, 2026. Also, the company resumed share repurchases in April, with an estimated $125 million of buybacks planned during the second quarter.

On M&A execution, LPLA said the Commonwealth conversion remains on track for the fourth quarter of 2026, while highlighting a newly announced agreement related to Mariner Advisor Network and continued activity in its Liquidity & Succession program, including $62 million deployed across six deals in the quarter.

Our View on LPL FinancialLPL Financial’s recruiting efforts and solid advisor productivity will likely continue aiding advisory revenues. Strategic acquisitions and a strong balance sheet will support financials. However, rising expenses and uncertainty in capital markets are likely to adversely impact commission revenues.
 

Performances of LPLA’s PeersInteractive Brokers Group’s (IBKR - Free Report) first-quarter 2026 adjusted earnings per share of 60 cents missed the Zacks Consensus Estimate of 62 cents. However, the bottom line reflected a rise of 27.7% from the prior-year quarter.

IBKR’s results were primarily hurt by a rise in expenses. However, an increase in revenues, growth in customer accounts and a rise in daily average revenue trades (DARTs) acted as tailwinds.

 Charles Schwab’s (SCHW - Free Report) first-quarter 2026 adjusted earnings of $1.43 per share outpaced the Zacks Consensus Estimate of $1.38. The bottom line soared 38% year over year.

Quarterly results benefited from the robust performance of the asset management business and an increase in trading revenues. Higher net interest revenues (NIR) and solid brokerage account numbers were other positives. However, an increase in expenses was the undermining factor for SCHW.

May 07, 2026 08:55 ET  | Source: LPL Financial Holdings, Inc.

SAN DIEGO, May 07, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisors Conley Thornhill, CFP®, CIMA®, Doug Rathbun and Nikki Rathbun have joined Linsco by LPL Financial to launch Paxara Wealth Partners. The team reported serving approximately $330 million in advisory, brokerage and retirement plan assets* and joins LPL from UBS.

Based outside of Tampa in Winter Haven, Fla., Paxara Wealth Partners serves a national client base that includes business owners, physicians, executives and retirees, many of whom are navigating complex financial lives. With more than a century of combined industry experience, the firm takes a personalized, team-based approach designed to bring insight and reassurance to every stage of a client’s financial journey, from managing successful businesses to planning for retirement and building multigenerational wealth.

Thornhill, Paxara’s founder and lead advisor, has been recognized as a Forbes Best-In-State Wealth Advisor for five consecutive years (2020–2025), reflecting his longstanding commitment to client-focused advice and disciplined financial planning.**

“We’ve always taken a deeply personal approach, treating every client like family to ensure a high level of care,” said Thornhill. “Many of our relationships span decades, and today we’re proud to work with second- and third-generation clients who continue to trust us with their financial lives.”

In addition to comprehensive wealth planning, the team is especially focused on guiding clients through major life transitions.

“On a personal level, I’m especially passionate about supporting women through pivotal moments like divorce or widowhood,” said Nikki Rathbun, vice president and financial advisor. “During those times, it’s not just about financial guidance – it’s about listening, simplifying the process and providing reassurance when clients need it most.”

The firm’s name reflects its planning philosophy – “Pax” is the Latin word for peace while “ara” represents a strong foundation.

“Clients value our strategic, individualized approach that’s grounded in disciplined planning and decades of experience,” said Doug Rathbun, vice president and financial advisor. “Ultimately, our role is to bring clarity and confidence to important decisions, helping families protect what they’ve built and plan thoughtfully for what comes next.”

Why Paxara Wealth Partners Chose LPL

After an extensive due diligence process, the Paxara team, which also includes Joseph Kolad, CIMA®, CLU®, Kelly Castle and Ashley Aycock, selected LPL for its advanced technology, advisor independence and breadth of resources that allow them to operate without proprietary product constraints.

“Our move to LPL was driven by a desire for better technology, greater independence and the freedom to serve our clients fully and objectively,” said Doug Rathbun. “LPL allows us to elevate the client experience, collaborate more effectively and advocate for clients across areas like lending – without being limited to a single provider.”

LPL Chief Growth Officer Marc Cohen said, “We are proud to welcome Paxara Wealth Partners to LPL. Their commitment to personalized, relationship-driven advice aligns with LPL’s purpose to empower advisors with the technology, flexibility and support they need to deliver meaningful outcomes for their clients.”

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About LPL Financial

LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.3 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.

Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC.

Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.

We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

*Value approximated based on asset and holding details provided to LPL from end of year, 2025.

  ** Forbes Best-in-State Wealth Advisors ranking was developed by SHOOK Research and is based on in-person, virtual and telephone due diligence meetings and a ranking algorithm that includes: a measure of each team’s best practices, client retention, industry experience, review of compliance records, firm nominations; and quantitative criteria, including: assets under management and revenue generated for their firms. Investment performance is not a criterion because client objectives and risk tolerances vary, and advisors rarely have audited performance reports. SHOOK’s research and rankings provide opinions intended to help investors choose the right financial advisor and team, and are not indicative of future performance or representative of any one client’s experience. Past performance is not an indication of future results. Neither Forbes nor SHOOK Research receive compensation in exchange for placement on the rankings, but awardees have the option to purchase rights to use the award logo or additional marketing packages to promote their award. For more information, please see www.SHOOKresearch.com. SHOOK is a registered trademark of SHOOK Research, LLC.

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Tracking # 1102623

May 14, 2026 08:55 ET  | Source: LPL Financial Holdings, Inc.

SAN DIEGO, May 14, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that the financial advisors of Fifteen:22 Financial Partners have joined LPL Financial’s broker-dealer and Registered Investment Advisor (RIA) platform. The team reported serving approximately $380 million in advisory, brokerage and retirement plan assets* and joins LPL from Nations Financial Group.

Based in Kansas, Fifteen:22 Financial Partners is comprised of managing partners Douglas Bennett, Nicholas Bennett, Van Schaffer, Malcolm Ong, Brent Hoffman and Douglas Stephens, bringing together more than 120 years of combined industry experience. Founded more than 35 years ago, the firm was built on a legacy of deep client relationships and has grown through multigenerational referrals and a commitment to personalized, long-term financial guidance.

Fifteen:22 serves individuals and families across the country, with a client base that spans retirees, working professionals and younger investors beginning their financial journeys. The team takes a relationship-driven approach rooted in understanding each client’s goals, values and life experiences, with an emphasis on continuity of care across generations.

“We take the time to truly understand what matters most to our clients — their goals, concerns and values — so we can design strategies that support them throughout every stage of life,” said Stephens, “Our focus has always been on building lasting relationships that extend beyond one generation, and that commitment continues as our firm grows.”

The firm operates a collaborative, team-based model, combining shared investment oversight with individualized advisor relationships. Advisors regularly meet as an investment committee to align on strategy while maintaining a highly personalized client experience. In addition, Fifteen:22 offers values-based investing solutions for clients whose financial objectives extend beyond traditional return measures.

“We are not solely focused on gathering assets — we are focused on fostering trust and strong relationships through education, service and thoughtful advice,” said Hoffman. “Whether we are working with retirees, their children or even their grandchildren just beginning to invest, our goal is to be a long-term partner in their financial lives.”

Why Fifteen:22 Financial Partners Chose LPL

The Fifteen:22 team selected LPL Financial for its advanced technology, modern client-facing tools and depth of operational support. The team is supported by Jennifer Greer and Rachel Price.

“LPL’s commitment to innovation and its continued investment in technology stood out to us,” said Douglas Bennett. “The platform provides sophisticated resources for both advisors and clients, which is increasingly important as expectations evolve across generations. Joining LPL positions our firm to better serve our clients today while preparing us for the future.”

Marc Cohen, chief growth officer at LPL Financial, said, “We are pleased to welcome Fifteen:22 Financial Partners to LPL. Their longstanding commitment to relationships, team-based culture and focus on serving clients across generations align well with LPL’s purpose to empower advisors with the independence, technology and support they need to grow thriving practices and deliver exceptional client experiences.”

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Advisors, learn how LPL Financial can help take your business to the next level.

About LPL Financial

LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.3 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.

Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment adviser and broker-dealer. Member FINRA/SIPC. Fifteen:22 Financial Partners and LPL Financial are separate entities.

Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.

We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

*Value approximated based on asset and holding details provided to LPL from end of year, 2025.

Media Contact: 
[email protected] 

Tracking # 1107660

SAN DIEGO, May 19, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC  announced today that the financial advisors of Davis Executive Wealth have joined LPL Financial's supported independence model, LPL Strategic Wealth. The team reported serving approximately $635 million in advisory assets* and joins LPL from Steward Partners.

SAN DIEGO, May 21, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that the financial advisors of Emerald Wealth Management have joined LPL Financial's broker-dealer and Registered Investment Advisor (RIA) platform. The team reports serving approximately $815 million in advisory, brokerage, insurance and retirement plan assets* and joins LPL from Northwestern Mutual.

May 21, 2026 16:05 ET  | Source: LPL Financial Holdings, Inc.

SAN DIEGO, May 21, 2026 (GLOBE NEWSWIRE) -- LPL Financial Holdings Inc. (Nasdaq: LPLA) (the “Company”) today released its monthly activity report for April 2026.

Total client assets at the end of April were $2.48 trillion, an increase of $141.4 billion, or 6.1%, compared to the end of March. Advisory assets as a percentage of total assets increased to 59.8%, up from 54.7% a year ago.

Total organic net new assets (“NNA”) for April were $3.1 billion, translating to a 1.6% annualized growth rate.

Total client cash balances at the end of April were $55.5 billion, a decrease of $3.6 billion compared to the end of March. Net buying in April was $12.9 billion.

(End of period $ in billions, unless noted)
April March Change April Change 2026 2026 M/M 2025 Y/Y Client Assets     Advisory1,482.7 1,390.4 6.6%978.6 51.5%Brokerage995.0 945.9 5.2%809.4 22.9%Total Client Assets2,477.7 2,336.3 6.1%1,787.9 38.6%      Organic NNA     Advisory6.0 9.7 n/m 6.9 n/m Brokerage(3.0)(1.6)n/m (0.8)n/m Total Organic NNA3.1 8.1 n/m 6.1 n/m       Acquired NNA     Advisory0.0 0.0 n/m 0.0 n/m Brokerage0.0 0.0 n/m 0.0 n/m Total Acquired NNA0.0 0.0 n/m 0.0 n/m       Total NNA     Advisory6.0 9.7 n/m 6.9 n/m Brokerage(3.0)(1.6)n/m (0.8)n/m Total NNA3.1 8.1 n/m 6.1 n/m       Net brokerage to advisory conversions2.2 2.2 n/m 1.7 n/m       Client Cash Balances     Insured cash account sweep37.6 39.8 (5.5%)35.2 6.8%Deposit cash account sweep14.7 15.9 (7.5%)10.7 37.4%Total Bank Sweep52.3 55.7 (6.1%)45.9 13.9%Money market sweep1.3 1.5 (13.3%)4.2 (69.0%)Total Client Cash Sweep Held by Third Parties53.6 57.2 (6.3%)50.2 6.8%Client cash account1.9 2.0 (5.0%)1.6 18.8%Total Client Cash Balances55.5 59.1 (6.1%)51.8 7.1%      Net buy (sell) activity12.9 12.7 n/m 10.4 n/m             Market Drivers     S&P 500 Index (end of period)7,209 6,529 10.4%5,569 29.4%Russell 2000 Index (end of period)2,800 2,496 12.2%1,964 42.6%Fed Funds daily effective rate (average bps)364 364 —%433 (15.9%)       For additional information regarding these and other Company business metrics, please refer to the Company’s most recent earnings announcement, which is available in the quarterly results section of investor.lpl.com.

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About LPL Financial

LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.3 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.

Securities and advisory services offered through LPL Financial LLC (“LPL Financial”) and LPL Enterprise, LLC (“LPL Enterprise”), both registered investment advisers and broker-dealers. Members FINRA/SIPC.

Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial or LPL Enterprise.

We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

May 27, 2026 08:55 ET  | Source: LPL Financial Holdings, Inc.

SAN DIEGO, May 27, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisors Michael Stevenson, David Johnson and Nikko Gronhovd, CFP® of Soundview Wealth Management, LLC, have joined LPL Financial’s broker-dealer and Registered Investment Advisor (RIA) platform. They reported serving approximately $600 million in advisory, brokerage and retirement plan assets* and join LPL from D.A. Davidson.

The team serves a diverse client base that spans multiple generations, working with individuals and families at all stages of their financial lives. From helping families navigate wealth transitions to guiding younger clients as they begin investing, the team is committed to building long-term relationships grounded in trust and personalized service.

“We are different because of our relationships with clients and how our team works together,” said Johnson. “On the client side, we’ve been fortunate to be part of a practice where many relationships span generations, allowing us to work with families across all stages of life. On our side, it’s a true team approach. We challenge each other, talk things through and make decisions together with the client in mind.”

Soundview Wealth Management takes a comprehensive, planning-focused approach to advice. The advisors emphasize understanding each client’s unique goals and circumstances while helping them filter through market noise and stay focused on long-term priorities.

“Our role goes beyond selecting investments,” said Gronhovd. “We’re here to listen, serve as a sounding board and help clients make thoughtful, informed decisions. By focusing on what matters most for each client, we can provide clarity and confidence throughout their financial journey.”

Why Soundview Wealth Management, LLC Chose LPL

The Soundview team chose LPL after exploring opportunities to enhance their technology and operational flexibility. They were drawn to LPL’s integrated platform, transparent approach and ability to support their client-first philosophy.

“When the opportunity to explore LPL came up, it felt worth a closer look,” said Stevenson. “From the start, LPL’s approach was straightforward. They walked us through their technology, the flexibility of the platform and how it supports the way we want to work with clients. Just as important, they outlined a transition plan that felt clear and manageable for the people we serve.”

Marc Cohen, chief growth officer at LPL, said, “We are pleased to welcome the Soundview Wealth Management team to LPL. Their collaborative approach and commitment to serving clients across generations align with LPL’s purpose to empower advisors with the flexibility, technology and support they need to deliver personalized advice and grow their practices.”

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Advisors, learn how LPL Financial can help take your business to the next level.

About LPL Financial

LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.3 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit http://www.lpl.com/.

Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment adviser and broker-dealer. Member FINRA/SIPC. Soundview Wealth Management, LLC and LPL Financial are separate entities.

Throughout this communication, the terms "financial advisors" and "advisors" are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.

We routinely disclose information that may be important to shareholders in the "Investor Relations" or "Press Releases" section of our website.

*Value approximated based on asset and holding details provided to LPL from end of year, 2025.

Media Contact: 
[email protected] 

Tracking # 1113100

SAN DIEGO, May 28, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisor Steve Schott, MBA, has joined LPL Financial's broker-dealer and Registered Investment Advisor (RIA) platform. Schott reported serving approximately $240 million in advisory, brokerage and retirement plan assets* and joins LPL from Cambridge Investment.

SAN DIEGO, June 04, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisors Scott Gilliam, CFP® and Travis Blessing, AIF®, have launched a new independent practice, Align Private Wealth, through affiliation with LPL Financial's broker-dealer and Registered Investment Advisor (RIA) platform. The team reported serving approximately $2 billion in advisory plan assets* and joins LPL from PNC Private Bank.

SAN DIEGO, June 09, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that Darren Colananni, CFP®, ChFC®, CIMA®, CPWA®, has joined LPL Financial's broker-dealer and Registered Investment Advisor (RIA) platform, launching Allegia Wealth Management. Colananni reported serving approximately $230 million in advisory, brokerage and retirement plan assets* and joins LPL from Centurion Wealth Management.

Allspring Global Investments Holdings LLC increased its position in Revvity Inc. (NYSE: RVTY) by 127.0% in the undefined quarter, according to the company in its most recent filing with the SEC. The fund owned 1,751,612 shares of the company's stock after acquiring an additional 980,142 shares during the quarter. Allspring Global Investments Holdings