, /PRNewswire/ -- Brixmor Property Group Inc. (NYSE: BRX) today announced that the Company will host an interactive panel with management, analysts, and investors following ICSC 2026 Las Vegas on Wednesday, May 27, 2026 from 10:00 AM ET to 11:00 AM ET. To attend this webinar, please register in advance at: https://brixmor.zoom.us/webinar/register/WN_p6w36_G1RpmqFPrCwlg8iQ. A replay of the webinar will be available on the Brixmor website at https://www.brixmor.com.
CONNECT WITH BRIXMOR
For additional information, please visit https://www.brixmor.com; Follow Brixmor on: LinkedIn at https://www.linkedin.com/company/brixmor Facebook at https://www.facebook.com/Brixmor Instagram at https://www.instagram.com/brixmorpropertygroup; and YouTube at https://www.youtube.com/user/Brixmor. ABOUT BRIXMOR PROPERTY GROUP
Brixmor (NYSE: BRX) owns and operates a high-quality, national portfolio of open-air shopping centers. The Company's 344 retail centers comprise approximately 62 million square feet of prime retail space in established trade areas. Brixmor's properties reflect its vision "to be the center of the communities we serve" and are home to a diverse mix of thriving national, regional and local retailers. Brixmor is a valued partner to a broad range of retailers, including The TJX Companies, The Kroger Co., Publix Super Markets and Ross Stores.
Brixmor announces material information to its investors in SEC filings and press releases and on public conference calls, webcasts and the "Investors" page of its website at https://www.brixmor.com. The Company also uses social media to communicate with its investors and the public, and the information Brixmor posts on social media may be deemed material information. Therefore, Brixmor encourages investors and others interested in the Company to review the information that it posts on its website and on its social media channels.
SAFE HARBOR LANGUAGE
The presentation referenced in this press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, our financial results, our liquidity and capital resources, and other non-historical statements. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "projects," "predicts," "intends," "plans," "estimates," "anticipates," or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include, but are not limited to, those described under the sections entitled "Forward-Looking Statements" and "Risk Factors" in our Form 10-K for the year ended December 31, 2025, as such factors may be updated from time to time in our periodic filings with the Securities and Exchange Commission (the "SEC"), which are accessible on the SEC's website at https://www.sec.gov. These factors include (1) changes in national, regional, and local economies, due to global events such as international military conflicts, international trade disputes, a foreign debt crisis, foreign currency volatility, or due to domestic issues, such as government policies and regulations, tariffs, energy prices, market dynamics, general economic contractions, ongoing levels of inflation and interest rates, unemployment, or limited growth in consumer income or spending; (2) local real estate market conditions, including an oversupply of space in, or a reduction in demand for, properties similar to those in our Portfolio (defined hereafter); (3) competition from other available properties and e-commerce; (4) disruption and/or consolidation in the retail sector, the financial stability of our tenants, and the overall financial condition of large retailing companies, including their ability to pay rent and/or expense reimbursements that are due to us; (5) in the case of percentage rents, the sales volumes of our tenants; (6) increases in property operating expenses, including common area expenses, utilities, insurance, and real estate taxes, which are relatively inflexible and generally do not decrease if revenue or occupancy decrease; (7) increases in the costs to repair, renovate, and re-lease space; (8) earthquakes, wildfires, tornadoes, hurricanes, damage from rising sea levels due to climate change, other natural disasters, epidemics and/or pandemics, civil unrest, terrorist acts, or acts of war, any of which may result in uninsured or underinsured losses; (9) changes in laws and governmental regulations, including those governing usage, zoning, the environment, privacy, data security, intellectual property rights, and taxes; and (10) risks related to cybersecurity incidents or other disruptions to information technology systems used by us, our tenants, or our vendors, which could compromise data or impair business operations. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in our periodic filings. The forward-looking statements speak only as of the date of this press release, and we expressly disclaim any obligation or undertaking to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except to the extent otherwise required by law.
Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor's dream. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.
While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Many academic studies show that dividends account for significant portions of long-term returns, with dividend contributions exceeding one-third of total returns in many cases.
Brixmor Property (BRX - Free Report) is headquartered in New York, and is in the Finance sector. The stock has seen a price change of 18.8% since the start of the year. The owner and operator of shopping centers is currently shelling out a dividend of $0.31 per share, with a dividend yield of 3.95%. This compares to the REIT and Equity Trust - Retail industry's yield of 3.82% and the S&P 500's yield of 1.42%.
Looking at dividend growth, the company's current annualized dividend of $1.23 is up 7% from last year. Over the last 5 years, Brixmor Property has increased its dividend 5 times on a year-over-year basis for an average annual increase of 7.56%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. Brixmor's current payout ratio is 54%, meaning it paid out 54% of its trailing 12-month EPS as dividend.
Earnings growth looks solid for BRX for this fiscal year. The Zacks Consensus Estimate for 2026 is $2.36 per share, representing a year-over-year earnings growth rate of 4.89%.
From greatly improving stock investing profits and reducing overall portfolio risk to providing tax advantages, investors like dividends for a variety of different reasons. But, not every company offers a quarterly payout.
Big, established firms that have more secure profits are often seen as the best dividend options, but it's fairly uncommon to see high-growth businesses or tech start-ups offer their stockholders a dividend. Income investors have to be mindful of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. With that in mind, BRX is a compelling investment opportunity. Not only is it a strong dividend play, but the stock currently sits at a Zacks Rank of #3 (Hold).
Investors in Brixmor Property Group Inc. (BRX - Free Report) need to pay close attention to the stock based on moves in the options market lately. That is because the Jun 18, 2026 $20 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 Brixmor Property shares, but what is the fundamental picture for the company? Currently, Brixmor Property is a Zacks Rank #3 (Hold) in the REIT and Equity Trust – Retail industry that ranks in the Top 43% of our Zacks Industry Rank. Over the last 30 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 59 cents per share to 58 cents in that period.
Given the way analysts feel about Brixmor Property 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.
, /PRNewswire/ -- Brixmor Property Group Inc. (NYSE: BRX) today announced that it will release its 2026 second quarter earnings on Monday, July 27, 2026 after the market close. Brixmor will host a teleconference on Tuesday, July 28, 2026 at 10:00 AM ET.
Event: Brixmor Property Group's Second Quarter Earnings Results
When: 10:00 AM ET, Tuesday, July 28, 2026
Live Webcast: Brixmor 2Q 2026 Earnings Call under the Investors tab at https://www.brixmor.com
A replay of the webcast will be available on the Brixmor website at https://www.brixmor.com. A replay of the call can be accessed until midnight ET on Tuesday, August 11, 2026 by dialing 1.844.512.2921 (International: 1.412.317.6671); Passcode: 13760501.
Connect With Brixmor
For additional information, please visit https://www.brixmor.com; Follow Brixmor on: LinkedIn at https://www.linkedin.com/company/brixmor Facebook at https://www.facebook.com/Brixmor Instagram at https://www.instagram.com/brixmorpropertygroup YouTube at https://www.youtube.com/user/Brixmor ABOUT BRIXMOR PROPERTY GROUP
Brixmor (NYSE: BRX) owns and operates a high-quality, national portfolio of open-air shopping centers. The Company's 344 retail centers comprise approximately 62 million square feet of prime retail space in established trade areas. Brixmor's properties reflect its vision "to be the center of the communities we serve" and are home to a diverse mix of thriving national, regional and local retailers. Brixmor is a valued partner to a broad range of retailers, including The TJX Companies, The Kroger Co., Publix Super Markets and Ross Stores.
Brixmor announces material information to its investors in SEC filings and press releases and on public conference calls, webcasts and the "Investors" page of its website at https://www.brixmor.com. The Company also uses social media to communicate with its investors and the public, and the information Brixmor posts on social media may be deemed material information. Therefore, Brixmor encourages investors and others interested in the Company to review the information that it posts on its website and on its social media channels.
SAFE HARBOR LANGUAGE
The presentation referenced in this release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, our financial results, our liquidity and capital resources, and other non-historical statements. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "projects," "predicts," "intends," "plans," "estimates," "anticipates," or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include, but are not limited to, those described under the sections entitled "Forward-Looking Statements" and "Risk Factors" in our Form 10-K for the year ended December 31, 2025, as such factors may be updated from time to time in our periodic filings with the Securities and Exchange Commission (the "SEC"), which are accessible on the SEC's website at https://www.sec.gov. These factors include (1) changes in national, regional, and local economies, due to global events such as international military conflicts, international trade disputes, a foreign debt crisis, foreign currency volatility, or due to domestic issues, such as government policies and regulations, tariffs, energy prices, market dynamics, general economic contractions, ongoing levels of inflation and interest rates, unemployment, or limited growth in consumer income or spending; (2) local real estate market conditions, including an oversupply of space in, or a reduction in demand for, properties similar to those in our Portfolio (defined hereafter); (3) competition from other available properties and e-commerce; (4) disruption and/or consolidation in the retail sector, the financial stability of our tenants, and the overall financial condition of large retailing companies, including their ability to pay rent and/or expense reimbursements that are due to us; (5) in the case of percentage rents, the sales volumes of our tenants; (6) increases in property operating expenses, including common area expenses, utilities, insurance, and real estate taxes, which are relatively inflexible and generally do not decrease if revenue or occupancy decrease; (7) increases in the costs to repair, renovate, and re-lease space; (8) earthquakes, wildfires, tornadoes, hurricanes, damage from rising sea levels due to climate change, other natural disasters, epidemics and/or pandemics, civil unrest, terrorist acts, or acts of war, any of which may result in uninsured or underinsured losses; (9) changes in laws and governmental regulations, including those governing usage, zoning, the environment, privacy, data security, intellectual property rights, and taxes; and (10) risks related to cybersecurity incidents or other disruptions to information technology systems used by us, our tenants, or our vendors, which could compromise data or impair business operations. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this presentation and in our periodic filings. The forward-looking statements speak only as of the date of this presentation, and we expressly disclaim any obligation or undertaking to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except to the extent otherwise required by law.
F.N.B. Corporation (NYSE:FNB) will release earnings for its first quarter after the closing bell on Thursday, April 16.
Analysts expect the Pittsburgh, Pennsylvania-based company to report quarterly earnings of 38 cents per share, up from 32 cents per share in the year-ago period. The consensus estimate for FNB's quarterly revenue is $454.02 million (it reported $411.61 million last year), according to Benzinga Pro.
On Tuesday, F.N.B. raised its quarterly dividend from 12 cents to 13 cents per share and announced a $250 million stock buyback plan.
FNB shares rose 0.9% to close at $17.89 on Wednesday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.
Considering buying FNB stock? Here’s what analysts think:
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Revenue Growth of 9.4% Drove an 18.8% Increase in Diluted EPS and 11.4% Growth in Tangible Book Value per Share (non-GAAP) from the First Quarter of 2025
, /PRNewswire/ -- F.N.B. Corporation (NYSE: FNB) reported earnings for the first quarter of 2026 with net income of $137.0 million, or $0.38 per diluted common share. Comparatively, first quarter 2025 net income totaled $116.5 million, or $0.32 per diluted common share, and fourth quarter of 2025 net income totaled $168.7 million, or $0.47 per diluted common share.
On an operating basis, there were no significant items impacting earnings for the first quarters of 2026 and 2025. By comparison, fourth quarter 2025 earnings per diluted common share on an operating basis (non-GAAP) was $0.50, excluding $16.6 million (pre-tax) of significant items impacting earnings.
"F.N.B. Corporation's first quarter earnings increased 19% from the year-ago quarter to $0.38 per diluted common share. Pre-provision net revenue (non-GAAP) increased 17% as we generated positive operating leverage of 5% with continued solid non-interest income generation and growth in net interest income," said F.N.B. Corporation Chairman, President and Chief Executive Officer, Vincent J. Delie, Jr. "Our key performance metrics and capital ratios remain strong with return on average tangible common equity (non-GAAP) equaling 13.2% and tangible book value per share (non-GAAP) of $12.06, an increase of 11% from the year-ago-quarter. Our Company's sustained superior financial performance, investments in a resilient risk management framework and a strong balance sheet have provided FNB with flexibility to efficiently deploy capital to benefit our shareholders. As we previously announced, we increased our quarterly cash dividend 8% to $0.13 per share and authorized a new share repurchase program with a total of $300 million now available for repurchase. FNB's award-winning digital and data analytics capabilities, including the eStore®, as well as investments in our Advisory and Capital Markets businesses and differentiated product offerings have enabled our team to continue to sustain growth and win against competitors of all sizes."
First Quarter 2026 Highlights
(All comparisons refer to the first quarter of 2025, except as noted)
Average loans and leases totaled $34.9 billion, an increase of $849.4 million, or 2.5%, driven by consumer loan growth of $1.1 billion. In December 2025, FNB transferred approximately $200 million of performing residential mortgage loans to held-for-sale in anticipation of a loan sale that closed in the first quarter of 2026 as part of balance sheet management actions. On a linked-quarter basis, period-end total consumer loans and commercial loans and leases increased $198.2 million and $136.0 million, respectively, as loan activity began to accelerate late in the quarter. Average deposits totaled $38.4 billion, an increase of $1.4 billion, or 3.8%, as the growth in average money market deposits of $1.0 billion, average interest-bearing demand deposits of $241.0 million and average non-interest-bearing demand deposits of $180.3 million more than offset the declines in average savings deposits of $42.0 million and average time deposits of $30.7 million. On a linked-quarter basis, period-end total deposits increased $141.8 million, with deposit growth more than offsetting seasonal outflows during the quarter. The loan-to-deposit ratio was 90.3% at March 31, 2026, compared to 89.7% at December 31, 2025, and 91.9% at March 31, 2025. Net interest income totaled $359.3 million, a decrease of $6.2 million, or 1.7%, linked-quarter, primarily due to the impact of two less days in the current quarter and lower yields on earning assets, partially offset by a lower cost of funds. Net interest margin (FTE) (non-GAAP) equaled 3.25%, a decrease of 3 basis points from the fourth quarter of 2025, reflecting an 8 basis point decline in the total cost of funds offset by an 11 basis point decline in the total yield on earning assets (non-GAAP) which were impacted by the Federal Open Market Committee (FOMC) lowering the target federal funds rate in December 2025. Pre-provision net revenue (non-GAAP) totaled $192.4 million, a 17% increase from the year-ago quarter, driven by continued solid non-interest income generation and growth in net interest income. Provision for credit losses was $18.5 million, a decrease of $0.4 million from the prior quarter, with net charge-offs of $15.9 million, or 0.18% annualized of total average loans, compared to $16.4 million, or 0.19% annualized, in the prior quarter. The ratio of non-performing loans and other real estate owned (OREO) to total loans and leases and OREO increased 3 basis points from the prior quarter to 0.34%, and total delinquency increased 3 basis points from the prior quarter to 0.74%. The allowance for credit losses (ACL) to total loans and leases ratio remained stable at 1.26%. Overall, asset quality metrics remain at solid levels, reflecting continued proactive management of the loan portfolio. The Common Equity Tier 1 (CET1) regulatory capital ratio ended the quarter at 11.4% (estimated), compared to 10.7% at March 31, 2025, and 11.4% at December 31, 2025. The tangible common equity to tangible assets ratio (non-GAAP) equaled 8.9%, compared to 8.4% at March 31, 2025, and 8.9% at December 31, 2025. Tangible book value per common share (non-GAAP) of $12.06 increased $1.23, or 11.4%, compared to March 31, 2025, and $0.19, or 1.6%, compared to December 31, 2025. During the first quarter of 2026, the Company repurchased $35 million, or 2.0 million shares, of common stock at a weighted average share price of $17.41. On April 14, 2026, FNB announced the authorization of a new $250 million common stock repurchase program. Including the authority remaining under the previous program, total repurchase capacity is $300 million. In April 2026, the Board of Directors declared a quarterly common stock cash dividend of $0.13, an 8% increase, beginning with the common dividend payable on June 15, 2026. Non-GAAP measures referenced in this release are used by management to measure performance in operating the business that management believes enhances investors' ability to better understand the underlying business performance and trends related to core business activities. Reconciliations of non-GAAP operating measures to the most directly comparable GAAP financial measures are included in the tables at the end of this release. For more information regarding our use of non-GAAP measures, please refer to the discussion herein under the caption, "Use of Non-GAAP Financial Measures and Key Performance Indicators."
Quarterly Results Summary
1Q26
4Q25
1Q25
Reported results
Net income available to common shareholders (millions)
$ 137.0
$ 168.7
$ 116.5
Earnings per diluted common share
0.38
0.47
0.32
Book value per common share
19.12
18.92
17.86
Pre-provision net revenue (non-GAAP) (millions)
192.4
184.6
164.8
Operating results (non-GAAP)
Operating net income available to common shareholders (millions)
$ 137.0
$ 181.8
$ 116.5
Operating earnings per diluted common share
0.38
0.50
0.32
Operating pre-provision net revenue (millions)
192.4
205.7
164.8
Average diluted common shares outstanding (thousands)
Tangible common equity to tangible assets (non-GAAP)
8.91
8.89
8.37
Tangible book value per common share (non-GAAP)
$ 12.06
$ 11.87
$ 10.83
(a) Favorable (unfavorable) impact on earnings.
(b) Estimated for 1Q26.
First Quarter 2026 Results – Comparison to Prior-Year Quarter
(All comparisons refer to the first quarter of 2025, except as noted.)
Net interest income totaled $359.3 million, an increase of $35.4 million, or 10.9%, reflecting growth in average earning assets and lower interest-bearing deposit costs, partially offset by lower yields on earning assets. The net interest margin (FTE) (non-GAAP) increased 22 basis points to 3.25%. The yield on earning assets (non-GAAP) decreased 9 basis points to 5.14%, driven by a 12 basis point decline in yields on loans to 5.56%, partially offset by a 13 basis point increase in yields on investment securities to 3.54%. Total cost of funds decreased 31 basis points to 2.01%, with a 36 basis point decrease in interest-bearing deposit costs to 2.40% and a 57 basis point decrease in total borrowing costs. The FOMC has lowered the target federal funds rate by 175 basis points since August 2024.
Average loans and leases totaled $34.9 billion, an increase of $849.4 million, or 2.5%, driven by growth of $1.1 billion in average consumer loans. Average commercial and industrial loans increased $266.4 million, or 3.5%, and average commercial leases increased $21.4 million, or 2.8%, offset by the decline in average commercial real estate loans of $503.1 million, or 4.0%. Solid commercial and industrial loan growth in the Charlotte, North Carolina market and equipment financing was offset by expected commercial real estate loan payoffs. The increase in average consumer loans included an $873.4 million, or 10.9%, increase in residential mortgage loans largely due to the continued successful execution in key markets and long-standing strategy of serving the purchase market, which was partially offset by the sale of approximately $200 million of performing residential mortgage loans in February 2026. Average consumer lines of credit increased $164.1 million, or 12.0%, and indirect auto loans increased $28.0 million, or 3.7%, both reflecting solid organic growth in the portfolio.
Average deposits totaled $38.4 billion, an increase of $1.4 billion, or 3.8%. The growth in average money market deposits of $1.0 billion, average interest-bearing demand deposits of $241.0 million and average non-interest-bearing demand deposits of $180.3 million more than offset the decline in average savings deposits of $42.0 million and average time deposits of $30.7 million. The mix of non-interest-bearing demand deposits to total deposits was stable at 26% at both March 31, 2026, and March 31, 2025. The loan-to-deposit ratio improved to 90.3% at March 31, 2026, compared to 91.9% at March 31, 2025.
Non-interest income totaled $91.0 million, an increase of $3.2 million, or 3.7%. Capital markets income increased $1.5 million, or 27.8%, reflecting solid contributions from debt capital markets, swap fees and international banking income. Wealth Management revenues increased $0.6 million, or 2.8%, as trust services income and securities commissions and fees increased 3.5% and 1.8%, respectively, through continued strong contributions across the geographic footprint. Other non-interest income increased $1.4 million, or 49.5%, from miscellaneous gains, while bank-owned life insurance decreased $1.2 million, reflecting higher life insurance claims in the year-ago quarter.
Non-interest expense totaled $257.9 million, increasing $11.1 million, or 4.5%. Net occupancy and equipment increased $5.1 million, or 11.1%, primarily due to technology-related investments and higher occupancy costs, which included unusually high seasonal snow removal costs. Bank shares tax increased $0.4 million, or 10.7%, reflecting a higher capital base. Other non-interest expense increased $6.8 million, or 30.4%, due to higher fraud losses, various litigation-related expenses and the impact of Community Uplift, an affordable mortgage down payment assistance program.
The ratio of non-performing loans and OREO to total loans and OREO decreased 14 basis points to 0.34%. Total delinquency decreased 1 basis point to 0.74%. Overall, asset quality metrics remain at solid levels.
The provision for credit losses was $18.5 million, compared to $17.5 million. The first quarter of 2026 reflected net charge-offs of $15.9 million, or 0.18% annualized of total average loans, compared to $12.5 million, or 0.15% annualized, reflecting continued proactive management of the loan portfolio. The ACL was $443.0 million, an increase of $14.2 million, with the ratio of the ACL to total loans and leases increasing 1 basis point to 1.26%.
The effective tax rate was 21.2%, compared to 20.9% in the first quarter of 2025.
The CET1 regulatory capital ratio was 11.4% (estimated) at March 31, 2026, and 10.7% at March 31, 2025. Tangible book value per common share (non-GAAP) was $12.06 at March 31, 2026, an increase of $1.23, or 11.4%, from $10.83 at March 31, 2025. AOCI reduced the current quarter tangible book value per common share (non-GAAP) by $0.24, compared to a reduction of $0.34 at the end of the year-ago quarter.
First Quarter 2026 Results – Comparison to Prior Quarter
(All comparisons refer to the fourth quarter of 2025, except as noted.)
Net interest income totaled $359.3 million, a decrease of $6.2 million, or 1.7%, primarily due to two less days in the current quarter and lower yields on earning assets, partially offset by lower cost of funds. The total yield on earning assets (non-GAAP) decreased 11 basis points to 5.14%. The total cost of funds decreased 8 basis points to 2.01%, as the cost of interest-bearing deposits decreased 13 basis points to 2.40% and total borrowing costs decreased 12 basis points to 4.23%. Total average borrowings increased $356.9 million due to normal seasonal outflows of deposits. The resulting net interest margin (FTE) (non-GAAP) was 3.25%, a 3 basis point decline.
Average loans and leases totaled $34.9 billion, a slight decrease of $83.0 million, or 1.0% annualized, as average consumer loans increased $48.8 million, offsetting the decrease of $131.8 million in average commercial loans and leases. End of period balances for consumer loans and commercial loans and leases increased $198.2 million and $136.0 million, respectively, as loan activity began to accelerate late in the quarter. For consumer lending, average consumer lines of credit increased $32.1 million and indirect auto loans increased $28.2 million, both reflecting solid organic growth in the portfolio and offsetting the impact of the loan sale on average residential mortgages. Average commercial loans and leases included declines of $299.2 million in average commercial real estate loans from secondary market activity and $28.2 million in average commercial leases, partially offset by an increase of $201.4 million in average commercial and industrial loans.
Average deposits totaled $38.4 billion, a decrease of $264.8 million, due to the impact of normal seasonal outflows in public funds and other corporate deposit balances. The decreases in average time deposits of $221.8 million and average non-interest-bearing deposit balances of $190.3 million were partially offset by growth in average interest-bearing demand deposits of $104.4 million and average savings deposit balances of $37.5 million. End of period total deposits increased $141.8 million as deposit inflows increased near the end of the quarter from their seasonal lows. The mix of non-interest-bearing demand deposits to total deposits was stable at 26% for both March 31, 2026 and December 31, 2025. The loan-to-deposit ratio totaled 90.3% at March 31, 2026, compared to 89.7% at December 31, 2025.
Non-interest income totaled $91.0 million, a decrease of $1.4 million, or 1.5%, from the prior quarter. Insurance commission and fees increased $1.4 million, or 30.3%, driven by seasonal contingent revenue and new client acquisition. Mortgage banking operations income increased $0.7 million, or 12.7%, primarily due to an 8% increase in sold loan volumes. Dividends on non-marketable equity securities increased $0.6 million, or 9.9%, from higher Federal Home Loan Bank activity. Service charges decreased $1.2 million, or 5.2%, primarily from the seasonally higher consumer transaction volumes in the prior quarter. Bank-owned life insurance decreased $1.2 million, reflecting higher life insurance claims in the prior quarter.
Non-interest expense totaled $257.9 million, a decrease of $15.3 million, or 5.6%, compared to the prior quarter. When adjusting for $16.6 million1 (pre-tax) of significant items in the fourth quarter of 2025, operating non-interest expense (non-GAAP) increased $1.3 million, or 0.5%. Net occupancy and equipment increased $3.0 million, or 6.3%, primarily due to unusually high snow removal costs and higher occupancy costs. Salaries and employee benefits increased $1.9 million, or 1.4%, primarily due to normal seasonal long-term compensation expense of $7.1 million in the first quarter of 2026, as well as seasonally higher employer-paid payroll taxes, partially offset by lower employer-paid healthcare costs and performance-based compensation. Outside services decreased $3.1 million, or 10.6%, due to lower third-party legal costs. The efficiency ratio (non-GAAP) totaled 56.1%, compared to 53.8% in the prior quarter, reflecting the impact of the December FOMC rate cut and two less days in the quarter on net interest income and normal seasonality.
The ratio of non-performing loans and OREO to total loans and OREO increased 3 basis points to 0.34%, and delinquency increased 3 basis points to 0.74%. Overall, asset quality metrics remain at solid levels.
The provision for credit losses was $18.5 million, compared to $18.9 million. The first quarter of 2026 reflected net charge-offs of $15.9 million, or 0.18% annualized of total average loans, compared to $16.4 million, or 0.19% annualized, reflecting continued proactive management of the loan portfolio. The ACL was $443.0 million, an increase of $3.5 million, with the ratio of the ACL to total loans and leases stable at 1.26%.
The effective tax rate was 21.2%, compared to (1.8)%, reflecting the impact of the investment tax credits recognized as part of a renewable energy project financing transaction in the prior quarter.
The CET1 regulatory capital ratio was 11.4% (estimated), stable to 11.4% at December 31, 2025. Tangible book value per common share (non-GAAP) was $12.06 at March 31, 2026, an increase of $0.19 per share. AOCI reduced the current quarter-end tangible book value per common share (non-GAAP) by $0.24 as of March 31, 2026, compared to $0.18 at the end of the prior quarter.
1 Fourth quarter 2025 non-interest expense significant items impacting earnings included a $20 million (pre-tax) contribution to the FNB Foundation and ($3.4) million (pre-tax) reduction in the estimated FDIC special assessment related to the 2023 bank failures.
Use of Non-GAAP Financial Measures and Key Performance Indicators
To supplement our Consolidated Financial Statements presented in accordance with GAAP, we use certain non-GAAP financial measures, such as operating net income available to common shareholders, operating earnings per diluted common share, return on average tangible common equity, return on average tangible assets, tangible book value per common share, the ratio of tangible common equity to tangible assets, operating non-interest expense, pre-provision net revenue (reported), operating pre-provision net revenue, efficiency ratio, and net interest margin (FTE) to provide information useful to investors in understanding our operating performance and trends, and to facilitate comparisons with the performance of our peers. Management uses these measures internally to assess and better understand our underlying business performance and trends related to core business activities. The non-GAAP financial measures and key performance indicators we use may differ from the non-GAAP financial measures and key performance indicators other financial institutions use to assess their performance and trends.
These non-GAAP financial measures should be viewed as supplemental in nature, and not as a substitute for, or superior to, our reported results prepared in accordance with GAAP. Reconciliations of non-GAAP operating measures to the most directly comparable GAAP financial measures are included later in this release under the heading "Reconciliations of Non-GAAP Financial Measures and Key Performance Indicators to GAAP."
Management believes certain items (e.g., FDIC special assessment) are not organic to running our operations and facilities. These items are considered significant items impacting earnings as they are deemed to be outside of ordinary banking activities. These costs are specific to each individual transaction and may vary significantly based on the size and complexity of the transaction.
To facilitate peer comparisons of net interest margin and efficiency ratio, we use net interest income on a taxable-equivalent basis in calculating net interest margin by increasing the interest income earned on tax-exempt assets (loans and investments) to make it fully equivalent to interest income earned on taxable investments (this adjustment is not permitted under GAAP). Taxable-equivalent amounts for 2026 and 2025 were calculated using a federal statutory income tax rate of 21%.
Cautionary Statement Regarding Forward-Looking Information
This document contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward‑looking statements are those that do not relate to historical facts and that are based on current assumptions, beliefs, estimates, expectations and projections, many of which, by their nature, are inherently uncertain and beyond our control. Forward-looking statements may relate to various matters, including our financial condition, results of operations, plans, objectives, future performance, business or industry, and usually can be identified by the use of forward-looking words, such as "anticipates," "assumes," "believes," "can," "continues," "could," "enable," "estimates," "expects," "forecasts," "goal," "intends," "likely," "may," "might," "objective," "plans," "positioned," "potential," "projects," "remains," "should," "target," "trend," "will," "would," or similar words or expressions or variations thereof, and the negative thereof, but these terms are not the exclusive means of identifying such statements. You should not place undue reliance on forward-looking statements, as they are subject to risks and uncertainties, including, but not limited to, those described below. When considering these forward-looking statements, you should keep in mind these risks and uncertainties, as well as any cautionary statements we may make.
There are various important factors that could cause future results to differ materially from historical performance and any forward-looking statements. Factors that might cause such differences, include, but are not limited to:
the credit risk associated with the substantial amount of commercial loans and leases in our loan portfolio; the volatility of the mortgage banking business; changes in market interest rates, U.S. federal government shutdowns and the unpredictability of monetary, tax and other policies of government agencies, including tariffs or the imposition and enforceability of tariffs, trade wars, barriers or restrictions, threats of such actions or related uncertainties; the impact of changes in interest rates on the value of our investment securities portfolios; changes in our ability to obtain liquidity as and when needed to fund our obligations as they come due, including as a result of adverse changes to our credit ratings; the risk associated with uninsured deposit account balances; regulatory limits on our ability to receive dividends from our subsidiaries and pay dividends to our shareholders; our ability to recruit and retain qualified banking professionals; the financial soundness of other financial institutions and the impact of volatility in the banking sector on us; changes and instability in economic conditions and financial markets, in the regions in which we operate or otherwise, including a contraction of economic activity, economic downturn or uncertainty and international conflict, including in the Middle East, disruption of supply chain and energy supply markets and capital markets, changes to inflation expectations and other related uncertainties; our ability to continue to invest in technological improvements as they become appropriate or necessary; any interruption in or breach in security of our information systems, or other cybersecurity risks; risks associated with reliance on third-party vendors and artificial intelligence; risks associated with the use of models, estimations and assumptions in our business; the effects of adverse weather events and public health emergencies; the risks associated with acquiring other banks and financial services businesses, including integration into our existing operations; the extensive federal and state regulations, supervision and examination governing almost every aspect of our operations, and potential expenses associated with complying with such regulations; our ability to comply with the consent orders entered into by First National Bank of Pennsylvania with the Department of Justice and the North Carolina State Department of Justice, and related costs and potential reputational harm; changes in federal, state or local tax rules and regulations or interpretations, or accounting policies, standards and interpretations; the effects of climate change and related legislative and regulatory initiatives; and any reputation, credit, interest rate, market, operational, litigation, legal, liquidity, regulatory and compliance risk resulting from developments related to any of the risks discussed above. FNB cautions that the risks identified here are not exhaustive of the types of risks that may adversely impact FNB and actual results may differ materially from those expressed or implied as a result of these risks and uncertainties, including, but not limited to, the risk factors and other uncertainties described under Item 1A. Risk Factors and the Risk Management sections of our 2025 Annual Report on Form 10-K (including the MD&A section), our subsequent 2026 Quarterly Reports on Form 10-Q (including the risk factors and risk management discussions) and our other filings with the Securities and Exchange Commission (SEC), which are available on our corporate website at https://www.fnb-online.com/about-us/investor-information/reports-and-filings or the SEC's website at www.sec.gov. We have included our web address as an inactive textual reference only. Information on our website is not part of our SEC filings.
You should treat forward-looking statements as speaking only as of the date they are made and based only on information then actually known to FNB. FNB does not undertake, and specifically disclaims any obligation to update or revise any forward-looking statements to reflect the occurrence of events or circumstances after the date of such statements except as required by law.
Conference Call
F.N.B. Corporation (NYSE: FNB) announced the financial results for the first quarter of 2026 after the market close on Thursday, April 16, 2026. Chairman, President and Chief Executive Officer, Vincent J. Delie, Jr., Chief Financial Officer, Vincent J. Calabrese, Jr., and Chief Credit Officer, Gary L. Guerrieri, plan to host a conference call to discuss the Company's financial results on Friday, April 17, 2026 at 8:30 AM ET.
A live listen-only webcast of the conference call will be available under the Investor Relations section of the Corporation's website at www.fnbcorporation.com. Participants can access the link under the "About Us" tab and clicking on "Investor Relations" then "Investor Conference Calls." The live webcast will open approximately 30 minutes prior to the start of the call.
To participate in the Q&A portion of the call, dial 844-802-2440 (for domestic callers) or 412-317-5133 (for international callers). Pre-registration can be accessed at https://dpregister.com/sreg/10207964/103b8b94fec. Callers who pre-register will be provided a conference passcode and unique PIN to bypass the live operator and gain immediate access to the call.
Presentation slides and the earnings release will also be available under the Investor Relations section of the Corporation's website at www.fnbcorporation.com.
Following the call, a replay of the conference call will be available via the webcast link under the Investor Relations section of the Corporation's website at www.fnbcorporation.com.
About F.N.B. Corporation
F.N.B. Corporation (NYSE: FNB), headquartered in Pittsburgh, Pennsylvania, is a diversified financial services company operating in seven states and the District of Columbia. FNB's market coverage spans several major metropolitan areas including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; Washington, D.C.; Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and High Point) in North Carolina; and Charleston, South Carolina. The Company has total assets of nearly $51 billion and more than 350 banking offices throughout Pennsylvania, Ohio, Maryland, West Virginia, North Carolina, South Carolina, Washington, D.C. and Virginia.
FNB provides a full range of commercial banking, consumer banking and wealth management solutions through its subsidiary network which is led by its largest affiliate, First National Bank of Pennsylvania, founded in 1864. Commercial banking solutions include corporate banking, small business banking, investment real estate financing, government banking, business credit, capital markets and lease financing. The consumer banking segment provides a full line of consumer banking products and services, including deposit products, mortgage lending, consumer lending and a complete suite of mobile and online banking services. FNB's wealth management services include asset management, private banking and insurance.
The common stock of F.N.B. Corporation trades on the New York Stock Exchange under the symbol "FNB" and is included in Standard & Poor's MidCap 400 Index with the Global Industry Classification Standard (GICS) Regional Banks Sub-Industry Index. Customers, shareholders and investors can learn more about this regional financial institution by visiting the F.N.B. Corporation website at www.fnbcorporation.com.
F.N.B. CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(Dollars in thousands, except per share data)
(Unaudited)
% Variance
1Q26
1Q26
1Q26
4Q25
1Q25
4Q25
1Q25
Interest Income
Loans and leases, including fees
$ 485,913
$ 503,498
$ 480,574
(3.5)
1.1
Securities:
Taxable
61,140
60,249
54,850
1.5
11.5
Tax-exempt
6,903
6,932
6,940
(0.4)
(0.5)
Other
15,325
16,811
17,073
(8.8)
(10.2)
Total Interest Income
569,281
587,490
559,437
(3.1)
1.8
Interest Expense
Deposits
168,681
182,480
185,828
(7.6)
(9.2)
Short-term borrowings
17,934
15,892
14,103
12.8
27.2
Long-term borrowings
23,388
23,676
35,661
(1.2)
(34.4)
Total Interest Expense
210,003
222,048
235,592
(5.4)
(10.9)
Net Interest Income
359,278
365,442
323,845
(1.7)
10.9
Provision for credit losses
18,462
18,870
17,489
(2.2)
5.6
Net Interest Income After
Provision for Credit Losses
340,816
346,572
306,356
(1.7)
11.2
Non-Interest Income
Service charges
22,770
24,013
22,355
(5.2)
1.9
Interchange and card transaction fees
12,487
13,345
12,370
(6.4)
0.9
Trust services
12,831
12,211
12,400
5.1
3.5
Insurance commissions and fees
6,224
4,777
5,793
30.3
7.4
Securities commissions and fees
8,982
9,129
8,820
(1.6)
1.8
Capital markets income
6,801
6,534
5,323
4.1
27.8
Mortgage banking operations
6,345
5,629
6,993
12.7
(9.3)
Dividends on non-marketable equity securities
6,245
5,683
5,560
9.9
12.3
Bank owned life insurance
4,110
5,264
5,350
(21.9)
(23.2)
Net securities gains (losses)
2
—
—
n/m
n/m
Other
4,188
5,756
2,802
(27.2)
49.5
Total Non-Interest Income
90,985
92,341
87,766
(1.5)
3.7
Non-Interest Expense
Salaries and employee benefits
135,707
133,774
135,135
1.4
0.4
Net occupancy
22,637
19,829
19,758
14.2
14.6
Equipment
28,091
27,875
25,885
0.8
8.5
Outside services
26,461
29,585
26,341
(10.6)
0.5
Marketing
3,601
5,297
4,573
(32.0)
(21.3)
FDIC insurance
7,450
4,585
8,483
62.5
(12.2)
Bank shares tax
4,577
1,237
4,136
270.0
10.7
Other
29,341
50,987
22,500
(42.5)
30.4
Total Non-Interest Expense
257,865
273,169
246,811
(5.6)
4.5
Income Before Income Taxes
173,936
165,744
147,311
4.9
18.1
Income tax expense (benefit)
36,890
(2,949)
30,796
1,350.9
19.8
Net Income
$ 137,046
$ 168,693
$ 116,515
(18.8)
17.6
Earnings per Common Share
Basic
$ 0.38
$ 0.47
$ 0.32
(19.1)
18.8
Diluted
0.38
0.47
0.32
(19.1)
18.8
Cash Dividends per Common Share
0.12
0.12
0.12
—
—
n/m - not meaningful
F.N.B. CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Dollars in millions)
(Unaudited)
% Variance
1Q26
1Q26
1Q26
4Q25
1Q25
4Q25
1Q25
Assets
Cash and due from banks
$ 452
$ 387
$ 524
16.8
(13.7)
Interest-bearing deposits with banks
2,207
2,111
1,921
4.5
14.9
Cash and Cash Equivalents
2,659
2,498
2,445
6.4
8.8
Securities available for sale
3,775
3,727
3,477
1.3
8.6
Securities held to maturity
4,183
4,117
4,029
1.6
3.8
Loans held for sale
321
515
190
(37.7)
68.9
Loans and leases, net of unearned income
35,112
34,777
34,235
1.0
2.6
Allowance for credit losses on loans and leases
(443)
(439)
(429)
0.9
3.3
Net Loans and Leases
34,669
34,338
33,806
1.0
2.6
Premises and equipment, net
566
568
539
(0.4)
5.0
Goodwill
2,480
2,480
2,478
—
0.1
Core deposit and other intangible assets, net
33
36
48
(8.3)
(31.3)
Bank owned life insurance
671
667
662
0.6
1.4
Other assets
1,271
1,283
1,346
(0.9)
(5.6)
Total Assets
$ 50,628
$ 50,229
$ 49,020
0.8
3.3
Liabilities
Deposits:
Non-interest-bearing
$ 10,003
$ 9,914
$ 9,867
0.9
1.4
Interest-bearing
28,898
28,845
27,372
0.2
5.6
Total Deposits
38,901
38,759
37,239
0.4
4.5
Short-term borrowings
2,157
2,017
1,969
6.9
9.5
Long-term borrowings
2,001
1,901
2,514
5.3
(20.4)
Other liabilities
768
793
880
(3.2)
(12.7)
Total Liabilities
43,827
43,470
42,602
0.8
2.9
Shareholders' Equity
Common stock
4
4
4
—
—
Additional paid-in capital
4,698
4,695
4,696
0.1
—
Retained earnings
2,437
2,343
2,025
4.0
20.3
Accumulated other comprehensive loss
(86)
(63)
(121)
36.5
(28.9)
Treasury stock
(252)
(220)
(186)
14.5
35.5
Total Shareholders' Equity
6,801
6,759
6,418
0.6
6.0
Total Liabilities and Shareholders' Equity
$ 50,628
$ 50,229
$ 49,020
0.8
3.3
F.N.B. CORPORATION AND SUBSIDIARIES
(Dollars in thousands)
(Unaudited)
1Q26
4Q25
1Q25
Interest
Interest
Interest
Average
Income/
Yield/
Average
Income/
Yield/
Average
Income/
Yield/
Balance
Expense
Rate
Balance
Expense
Rate
Balance
Expense
Rate
Assets
Interest-bearing deposits with banks
$ 1,748,445
$ 15,325
3.55 %
$ 1,752,290
$ 16,811
3.81 %
$ 1,741,006
$ 17,073
3.98 %
Taxable investment securities (1)
6,876,738
60,936
3.55
6,706,245
60,039
3.58
6,437,681
54,635
3.40
Tax-exempt investment securities (1) (2)
991,913
8,735
3.52
1,000,876
8,764
3.50
1,010,117
8,764
3.47
Loans held for sale
437,086
7,572
6.93
347,216
6,271
7.22
203,579
3,884
7.63
Loans and leases (2) (3)
34,900,157
479,857
5.56
34,983,204
498,753
5.67
34,050,781
478,065
5.68
Total Interest Earning Assets (2)
44,954,339
572,425
5.14
44,789,831
590,638
5.25
43,443,164
562,421
5.23
Cash and due from banks
373,240
388,831
393,846
Allowance for credit losses
(446,932)
(442,527)
(428,903)
Premises and equipment
567,938
562,855
538,394
Other assets
4,505,350
4,469,488
4,535,697
Total Assets
$ 49,953,935
$ 49,768,478
$ 48,482,198
Liabilities
Deposits:
Interest-bearing demand
$ 6,541,455
18,173
1.13
$ 6,437,006
18,683
1.15
$ 6,300,423
18,826
1.21
Money market
11,700,669
85,030
2.95
11,695,237
91,789
3.11
10,652,531
90,025
3.43
Savings
3,102,399
6,787
0.89
3,064,940
7,340
0.95
3,144,432
8,110
1.05
Certificates and other time
7,193,173
58,690
3.31
7,414,998
64,668
3.46
7,223,878
68,867
3.87
Total interest-bearing deposits
28,537,696
168,680
2.40
28,612,181
182,480
2.53
27,321,264
185,828
2.76
Short-term borrowings
1,978,660
17,934
3.67
1,669,263
15,892
3.76
1,374,269
14,103
4.14
Long-term borrowings
1,984,936
23,388
4.78
1,937,403
23,676
4.85
2,828,002
35,662
5.11
Total Interest-Bearing Liabilities
32,501,292
210,002
2.62
32,218,847
222,048
2.73
31,523,535
235,593
3.03
Non-interest-bearing demand deposits
9,828,293
10,018,626
9,647,959
Total Deposits and Borrowings
42,329,585
2.01
42,237,473
2.09
41,171,494
2.32
Other liabilities
816,738
838,258
938,559
Total Liabilities
43,146,323
43,075,731
42,110,053
Shareholders' Equity
6,807,612
6,692,747
6,372,145
Total Liabilities and Shareholders' Equity
$ 49,953,935
$ 49,768,478
$ 48,482,198
Net Interest Earning Assets
$ 12,453,047
$ 12,570,984
$ 11,919,629
Net Interest Income (FTE) (2)
362,423
368,590
326,828
Tax Equivalent Adjustment
(3,145)
(3,148)
(2,983)
Net Interest Income
$ 359,278
$ 365,442
$ 323,845
Net Interest Spread
2.52 %
2.52 %
2.20 %
Net Interest Margin (2)
3.25 %
3.28 %
3.03 %
(1)
The average balances and yields earned on securities are based on historical cost.
(2)
The interest income amounts are reflected on an FTE basis (non-GAAP), which adjusts for the tax benefit of income on certain tax-exempt loans and investments using the federal statutory tax rate of 21%. The yield on earning assets and the net interest margin are presented on an FTE basis (non-GAAP).
(3)
Average loans and leases consist of average total loans, including non-accrual loans, less average unearned income.
F.N.B. CORPORATION AND SUBSIDIARIES
(Unaudited)
1Q26
4Q25
1Q25
Performance Ratios
Return on average equity
8.16 %
10.00 %
7.42 %
Return on average tangible
common equity (1)
13.20
16.33
12.62
Return on average assets
1.11
1.34
0.97
Return on average tangible assets (1)
1.19
1.44
1.06
Net interest margin (FTE) (2)
3.25
3.28
3.03
Yield on earning assets (FTE) (2)
5.14
5.25
5.23
Cost of interest-bearing deposits
2.40
2.53
2.76
Cost of interest-bearing liabilities
2.62
2.73
3.03
Cost of funds
2.01
2.09
2.32
Efficiency ratio (1)
56.08
53.81
58.50
Effective tax rate
21.21
(1.78)
20.91
Capital Ratios
Equity / assets
13.43
13.46
13.09
Common equity tier 1 (3)
11.4
11.4
10.7
Leverage
9.22
9.11
8.72
Tangible common equity / tangible assets (1)
8.91
8.89
8.37
Common Stock Data
Average diluted common shares outstanding
360,234,607
360,839,742
363,068,604
Period end common shares outstanding
355,670,905
357,303,315
359,364,784
Book value per common share
$ 19.12
$ 18.92
$ 17.86
Tangible book value per common share (1)
12.06
11.87
10.83
Dividend payout ratio (common)
31.71 %
25.70 %
37.75 %
(1)
See non-GAAP financial measures section of this Press Release for additional information relating to the calculation of this item.
(2)
The net interest margin and yield on earning assets (all non-GAAP measures) are presented on a fully taxable equivalent (FTE) basis, which adjusts for the tax benefit of income on certain tax-exempt loans and investments using the federal statutory tax rate of 21%.
(3)
March 31, 2026 Common Equity Tier 1 Capital ratio is an estimate.
F.N.B. CORPORATION AND SUBSIDIARIES
(Dollars in millions)
(Unaudited)
% Variance
1Q26
1Q26
1Q26
4Q25
1Q25
4Q25
1Q25
Balances at period end
Loans and Leases:
Commercial real estate (1)
$ 12,164
$ 12,274
$ 12,652
(0.9)
(3.9)
Commercial and industrial
8,032
7,718
7,628
4.1
5.3
Commercial leases
778
791
782
(1.6)
(0.5)
Other
87
141
174
(38.3)
(50.0)
Commercial loans and leases
21,061
20,924
21,236
0.7
(0.8)
Direct installment
2,655
2,678
2,656
(0.9)
—
Residential mortgages
9,038
8,882
8,184
1.8
10.4
Indirect installment
805
767
776
5.0
3.7
Consumer LOC
1,553
1,526
1,383
1.8
12.3
Consumer loans
14,051
13,853
12,999
1.4
8.1
Total loans and leases
$ 35,112
$ 34,777
$ 34,235
1.0
2.6
Note: Loans held for sale were $321, $515 and $190 at 1Q26, 4Q25, and 1Q25, respectively.
(1) Commercial real estate is made up of 68% non-owner occupied and 32% owner-occupied at March 31, 2026.
% Variance
Average balances
1Q26
1Q26
Loans and Leases:
1Q26
4Q25
1Q25
4Q25
1Q25
Commercial real estate
$ 12,202
$ 12,501
$ 12,705
(2.4)
(4.0)
Commercial and industrial
7,855
7,654
7,589
2.6
3.5
Commercial leases
787
815
766
(3.5)
2.8
Other
144
150
148
(3.9)
(2.6)
Commercial loans and leases
20,988
21,120
21,208
(0.6)
(1.0)
Direct installment
2,667
2,679
2,664
(0.4)
0.1
Residential mortgages
8,921
8,921
8,048
—
10.9
Indirect installment
788
759
760
3.7
3.7
Consumer LOC
1,536
1,504
1,372
2.1
12.0
Consumer loans
13,912
13,863
12,843
0.4
8.3
Total loans and leases
$ 34,900
$ 34,983
$ 34,051
(0.2)
2.5
F.N.B. CORPORATION AND SUBSIDIARIES
(Dollars in millions)
(Unaudited)
% Variance
1Q26
1Q26
Asset Quality Data
1Q26
4Q25
1Q25
4Q25
1Q25
Non-Performing Assets
Non-performing loans
$ 118
$ 105
$ 161
12.4
(26.7)
Other real estate owned (OREO)
3
3
2
—
50.0
Non-performing assets
$ 121
$ 108
$ 163
12.0
(25.8)
Non-performing loans / total loans and leases
0.33 %
0.30 %
0.47 %
Non-performing assets plus 90+ days past due / total loans and leases plus OREO
0.49
0.35
0.50
Non-performing loans plus OREO / total loans and leases plus OREO
0.34
0.31
0.48
Delinquency
Loans 30-89 days past due
$ 93
$ 130
$ 88
(28.5)
5.7
Loans 90+ days past due
50
13
9
284.6
455.6
Non-accrual loans
118
105
161
12.4
(26.7)
Past due and non-accrual loans
$ 261
$ 248
$ 258
5.2
1.2
Past due and non-accrual loans / total loans and leases
0.74 %
0.71 %
0.75 %
F.N.B. CORPORATION AND SUBSIDIARIES
(Dollars in millions)
% Variance
(Unaudited)
1Q26
1Q26
Allowance on Loans and Leases and Allowance for Unfunded Loan Commitments Rollforward
1Q26
4Q25
1Q25
4Q25
1Q25
Allowance for Credit Losses on Loans and Leases
Balance at beginning of period
$ 439.5
$ 437.3
$ 422.8
0.5
4.0
Provision for credit losses
19.4
18.7
18.6
3.4
3.9
Net loan (charge-offs) / recoveries
(15.9)
(16.4)
(12.5)
(3.6)
26.4
Allowance for credit losses on loans and leases
$ 443.0
$ 439.5
$ 428.9
0.8
3.3
Allowance for Unfunded Loan Commitments
Allowance for unfunded loan commitments balance at beginning of period
$ 20.1
$ 20.1
$ 21.4
0.1
(5.9)
Provision (reduction in allowance) for unfunded loan commitments / other adjustments
(0.9)
—
(1.1)
n/m
(17.1)
Allowance for unfunded loan commitments
$ 19.2
$ 20.1
$ 20.3
(4.6)
(5.3)
Total allowance for credit losses on loans and leases and allowance for unfunded loan commitments
$ 462.2
$ 459.6
$ 449.1
0.6
2.9
Allowance for credit losses on loans and leases / total loans and leases
1.26 %
1.26 %
1.25 %
Allowance for credit losses on loans and leases / total non-performing loans
376.8
417.7
266.9
Net loan charge-offs (annualized) / total average loans and leases
0.18
0.19
0.15
n/m - not meaningful
F.N.B. CORPORATION AND SUBSIDIARIES
(Unaudited)
RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES AND KEY PERFORMANCE INDICATORS TO GAAP
We believe the following non-GAAP financial measures provide information useful to investors in understanding our operating performance and trends, and facilitate comparisons with the performance of our peers. The non-GAAP financial measures we use may differ from the non-GAAP financial measures other financial institutions use to measure their results of operations. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, our reported results prepared in accordance with U.S. GAAP. The following tables summarize the non-GAAP financial measures included in this press release and derived from amounts reported in our financial statements.
% Variance
1Q26
1Q26
1Q26
4Q25
1Q25
4Q25
1Q25
Operating net income available to common shareholders
(dollars in thousands)
Net income available to common shareholders
$ 137,046
$ 168,693
$ 116,515
FNB Foundation contribution
—
20,000
—
Tax benefit of FNB Foundation contribution
—
(4,200)
—
FDIC special assessment
—
(3,375)
—
Tax expense (benefit) of FDIC special assessment
—
709
—
Operating net income available to common shareholders (non-GAAP)
$ 137,046
$ 181,827
$ 116,515
(24.6)
17.6
% Variance
1Q26
1Q26
1Q26
4Q25
1Q25
4Q25
1Q25
Operating earnings per diluted common share
Earnings per diluted common share
$ 0.38
$ 0.47
$ 0.32
FNB Foundation contribution
—
0.06
—
Tax benefit of FNB Foundation contribution
—
(0.01)
—
FDIC special assessment
—
(0.01)
—
Tax expense (benefit) of FDIC special assessment
—
—
—
Operating earnings per diluted common share (non-GAAP)
$ 0.38
$ 0.50
$ 0.32
(24.0)
18.8
F.N.B. CORPORATION AND SUBSIDIARIES
(Unaudited)
1Q26
4Q25
1Q25
Return on average tangible common equity
(dollars in thousands)
Net income available to common shareholders (annualized)
$ 555,798
$ 669,270
$ 472,534
Amortization of intangibles, net of tax (annualized)
10,733
12,324
12,620
Tangible net income available to common shareholders (annualized) (non-GAAP)
$ 566,531
$ 681,594
$ 485,154
Average total shareholders' equity
$ 6,807,612
$ 6,692,747
$ 6,372,145
Less: Average intangible assets (1)
(2,514,310)
(2,517,887)
(2,527,636)
Average tangible common equity (non-GAAP)
$ 4,293,302
$ 4,174,860
$ 3,844,509
Return on average tangible common equity (non-GAAP)
13.20 %
16.33 %
12.62 %
Return on average tangible assets
(dollars in thousands)
Net income (annualized)
$ 555,798
$ 669,270
$ 472,534
Amortization of intangibles, net of tax (annualized)
10,733
12,324
12,620
Tangible net income (annualized) (non-GAAP)
$ 566,531
$ 681,594
$ 485,154
Average total assets
$ 49,953,935
$ 49,768,478
$ 48,482,198
Less: Average intangible assets (1)
(2,514,310)
(2,517,887)
(2,527,636)
Average tangible assets (non-GAAP)
$ 47,439,625
$ 47,250,591
$ 45,954,562
Return on average tangible assets (non-GAAP)
1.19 %
1.44 %
1.06 %
(1) Excludes loan servicing rights.
F.N.B. CORPORATION AND SUBSIDIARIES
(Unaudited)
1Q26
4Q25
1Q25
Tangible book value per common share
(dollars in thousands, except per share data)
Total shareholders' equity
$ 6,800,671
$ 6,758,572
$ 6,418,012
Less: Intangible assets (1)
(2,512,732)
(2,516,082)
(2,525,619)
Tangible common equity (non-GAAP)
$ 4,287,939
$ 4,242,490
$ 3,892,393
Common shares outstanding
355,670,905
357,303,315
359,364,784
Tangible book value per common share (non-GAAP)
$ 12.06
$ 11.87
$ 10.83
Tangible common equity to tangible assets
(dollars in thousands)
Total shareholders' equity
$ 6,800,671
$ 6,758,572
$ 6,418,012
Less: Intangible assets (1)
(2,512,732)
(2,516,082)
(2,525,619)
Tangible common equity (non-GAAP)
$ 4,287,939
$ 4,242,490
$ 3,892,393
Total assets
$ 50,628,037
$ 50,229,013
$ 49,019,742
Less: Intangible assets (1)
(2,512,732)
(2,516,082)
(2,525,619)
Tangible assets (non-GAAP)
$ 48,115,305
$ 47,712,931
$ 46,494,123
Tangible common equity to tangible assets (non-GAAP)
8.91 %
8.89 %
8.37 %
(1) Excludes loan servicing rights.
Operating non-interest expense
(in thousands)
Non-interest expense
$ 257,865
$ 273,169
$ 246,811
FNB Foundation contribution
—
(20,000)
—
FDIC special assessment
—
3,375
—
Operating non-interest expense (non-GAAP)
$ 257,865
$ 256,544
$ 246,811
F.N.B. CORPORATION AND SUBSIDIARIES
(Unaudited)
1Q26
4Q25
1Q25
Pre-provision net revenue
(in thousands)
Net interest income
$ 359,278
$ 365,442
$ 323,845
Non-interest income
90,985
92,341
87,766
Less: Non-interest expense
(257,865)
(273,169)
(246,811)
Pre-provision net revenue (reported) (non-GAAP)
$ 192,398
$ 184,614
$ 164,800
Pre-provision net revenue (reported) (annualized) (non-GAAP)
$ 780,281
$ 732,437
$ 668,357
Adjustments:
Add: FNB Foundation contribution (non-interest expense)
—
20,000
—
Add (Less): FDIC special assessment (non-interest expense)
F.N.B. (FNB - Free Report) came out with quarterly earnings of $0.38 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.32 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -0.52%. A quarter ago, it was expected that this financial holding company would post earnings of $0.41 per share when it actually produced earnings of $0.5, delivering a surprise of +21.95%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
F.N.B., which belongs to the Zacks Banks - Southeast industry, posted revenues of $450.26 million for the quarter ended March 2026, missing the Zacks Consensus Estimate by 0.97%. This compares to year-ago revenues of $411.61 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
F.N.B. shares have added about 4.6% since the beginning of the year versus the S&P 500's gain of 2.6%.
What's Next for F.N.B.?While F.N.B. has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for F.N.B. 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 $0.42 on $469.1 million in revenues for the coming quarter and $1.71 on $1.9 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Southeast is currently in the top 25% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Investar (ISTR - Free Report) , has yet to report results for the quarter ended March 2026.
This holding company for Investar Bank is expected to post quarterly earnings of $0.69 per share in its upcoming report, which represents a year-over-year change of +7.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Investar's revenues are expected to be $36.6 million, up 79.8% from the year-ago quarter.
F.N.B. (FNB - Free Report) reported $450.26 million in revenue for the quarter ended March 2026, representing a year-over-year increase of 9.4%. EPS of $0.38 for the same period compares to $0.32 a year ago.
The reported revenue represents a surprise of -0.97% over the Zacks Consensus Estimate of $454.67 million. With the consensus EPS estimate being $0.38, the EPS surprise was -0.52%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how F.N.B. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 56.1% versus 55.7% estimated by four analysts on average.Net Interest Margin: 3.3% versus the four-analyst average estimate of 3.3%.Average Balance - Total interest earning assets: $44.95 billion versus the three-analyst average estimate of $44.94 billion.Net charge-offs to average loans: 0.2% versus 0.2% estimated by three analysts on average.Total Non-Performing Loans: $118 million versus the three-analyst average estimate of $105.94 million.Total Non-Performing Assets: $121 million versus the two-analyst average estimate of $106.92 million.Total Non-Interest Income: $90.99 million versus the four-analyst average estimate of $92.24 million.Net interest income (FTE): $362.42 million compared to the $363.96 million average estimate based on three analysts.Bank owned life insurance: $4.11 million versus $4.22 million estimated by three analysts on average.Mortgage banking operations: $6.35 million versus the three-analyst average estimate of $6.48 million.Trust services: $12.83 million versus the three-analyst average estimate of $12.38 million.Insurance commissions and fees: $6.22 million versus the three-analyst average estimate of $5.67 million.View all Key Company Metrics for F.N.B. here>>>
Shares of F.N.B. have returned +13% over the past month versus the Zacks S&P 500 composite's +6% 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.
Key Takeaways FNB reported Q1 EPS of 38 cents, matching estimates and rising 18.8% y/y.F.N.B. Corp saw higher NII and loan, deposit growth drive a 9.4% revenue increase.FNB faced higher expenses and provisions, while credit metrics showed mixed trends. F.N.B. Corporation (FNB - Free Report) reported first-quarter 2026 earnings of 38 cents per share, which matched the Zacks Consensus Estimate. The bottom line jumped 18.8% year over year.
The quarterly results benefited from higher net interest income (NII) and non-interest income. Higher average loans and deposits were other positives. However, higher non-interest expenses and provisions hurt the results to some extent.
Net income available to common shareholders was $137 million, up from $116.5 million in the prior-year quarter. Our estimate for net income available to common shareholders was $138.5 million.
FNB’s Revenues Improve, Expenses RiseTotal revenues were $450.3 million, up 9.4% from the year-ago quarter. The top line missed the Zacks Consensus Estimate of $454.7 million.
NII was $359.3 million, up 10.9% from the prior-year quarter. The rise reflected growth in average earning assets and lower interest-bearing deposit costs, partially offset by lower yields on earning assets.
The net interest margin (NIM) (FTE basis) expanded 22 basis points (bps) year over year to 3.25%. Our estimates for NII and NIM were pegged at $363.8 million and 3.27%, respectively.
Non-interest income was $91 million, up 3.7% year over year. The rise was primarily driven by higher capital markets income, dividends on non-marketable equity securities, insurance commissions and fees, and other income. Our estimate for the metric was $92 million.
Non-interest expenses were $257.9 million, up 4.5% year over year. The rise was due to an increase in almost all cost components, except for marketing costs and FDIC insurance expenses. Our estimate for non-interest expenses was $255.6 million.
At the end of the first quarter, average total loans and leases were $34.9 billion, up 2.5% from the prior-year quarter, while average total deposits were $38.4 billion, up 3.8%. Our estimates for average total loans and leases and average total deposits were $35 billion and $39 billion, respectively.
F.N.B. Corp’s Credit Quality: A Mixed BagFNB’s provision for credit losses was $18.5 million, up 5.6% from the prior-year quarter. Our estimate for provisions was $23.3 million. Net charge-offs were $15.9 million, up from $12.5 million a year ago.
However, the ratio of non-performing loans plus other real estate owned (OREO) to total loans and leases plus OREO decreased 14 bps year over year to 0.34%. Total delinquency decreased 1 bp to 0.74%.
FNB’s Capital Ratios ImproveAs of March 31, 2026, the common equity Tier 1 (CET1) ratio was 11.4%, up from 10.7% in the prior-year quarter. Tangible common equity to tangible assets ratio (non-GAAP) increased to 8.91% from 8.37%.
FNB’s Share Repurchase UpdateIn the first quarter of 2026, F.N.B. Corp repurchased $35 million, or 2 million shares, at a weighted average share price of $17.41.
Our View on FNBFNB’s solid liquidity position bodes well for the future. The company’s top line is expected to benefit from its efforts to increase fee income, its diverse revenue streams, stabilizing funding costs, opportunistic acquisitions and de novo branch expansion in high-growth markets. However, persistently rising expenses and significant commercial loan exposures are headwinds.
Currently, FNB carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other BanksM&T Bank Corporation (MTB - Free Report) reported first-quarter 2026 net operating earnings per share of $4.18, which beat the Zacks Consensus Estimate of $4.02. The bottom line compared favorably with earnings of $3.38 per share in the year-ago quarter.
MTB’s results were aided by higher NII and a rise in non-interest income, along with modest loan growth. However, a decline in deposits, higher provision for credit losses and elevated expenses acted as headwinds.
KeyCorp’s (KEY - Free Report) first-quarter 2026 earnings from continuing operations of 44 cents per share outpaced the Zacks Consensus Estimate of 41 cents. The bottom line reflected a 33.3% rise from the prior-year quarter.
KEY’s results primarily benefited from higher NII and non-interest income. Higher average loan balances, along with lower provisions, were other tailwinds. However, higher expenses hurt KEY’s results to some extent.
On April 17, 2026, F N B Corp FNB shares experienced a 3.1% increase, bringing the current price to $17.94. This move is set against a 52-week range of $12.33 to $19.14, reflecting significant volatility and investor interest over the past year.
GF Value™ verdict: Current price of $17.94 is 13.3% above the GF Value™ of $15.83, indicating the stock is overvalued.GF Score™: With a score of 77/100, FNB is considered to have above-average potential for long-term returns.Most notable signal: FNB has seen no insider transactions in the last 3 months, which may suggest a lack of confidence or uncertainty among insiders about the current market price. Is FNB Overvalued or Undervalued? The current market price of F N B Corp at $17.94 is notably above its GF Value™ estimate of $15.83, indicating that the stock is overvalued by approximately 13.3%. This suggests that investors may be paying a premium for the stock relative to its intrinsic value as assessed by GuruFocus. The GF Valuation label classifies FNB as "Modestly Overvalued," which highlights the risk associated with investing in this stock at its current price. A higher valuation usually implies greater expectations for future performance, and if these expectations are not met, the stock price could decline.
GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. Given that FNB's shares are currently trading above this intrinsic value, potential investors may want to exercise caution as there is a risk of a price correction should market sentiment shift or if the company's growth does not meet expectations.
How Does FNB's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 11.5x 11.0x Forward P/E 10.5x N/A F N B Corp's current P/E ratio (TTM) of 11.5x is 5% above its 5-year median P/E of 11.0x, indicating that the stock is trading at a slight premium compared to its historical valuation. This analysis aligns with the GF Value™ verdict, further supporting the conclusion that FNB is currently overvalued. The forward P/E of 10.5x suggests a more favorable valuation relative to earnings expectations, but the current TTM P/E indicates a need for caution.
What Does FNB's GF Score™ Tell Us? Metric Rating GF Score™ 77/100 Financial Strength 4/10 Profitability 5/10 Growth 6/10 Valuation 7/10 Momentum 8/10 The GF Score™ of 77/100 suggests that FNB possesses above-average potential for long-term returns, although there are areas of concern. The strongest aspect of FNB's score is its Momentum rank of 8/10, indicating that the stock has been performing well in terms of price movements. However, the Financial Strength rank of 4/10 is relatively weak, indicating potential vulnerabilities in the company's financial stability. This mixed set of scores suggests that while FNB has strong momentum, its financial health may require further scrutiny.
What Are Insiders Doing with FNB Stock? Recent insider activity for F N B Corp indicates no transactions over the last three months. This lack of buying or selling may suggest that insiders are either uncertain about the stock's future performance or are waiting for a more opportune moment to act. Typically, significant insider transactions can indicate confidence in a company's future; however, the absence of such activity in this case may warrant a cautious approach.
What This Means for Investors Based on the GF Value™ assessment, F N B Corp FNB is currently overvalued. The stock's price exceeds its estimated intrinsic value, suggesting potential risks for investors considering entry at this level. It may be prudent for potential investors to monitor the stock closely or await a more favorable price before making investment decisions.
For the complete analysis, visit the F N B Corp FNB stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is FNB's GF Score™?
FNB's GF Score™ is 77/100, indicating above-average potential for long-term returns based on various fundamental aspects.
Is FNB overvalued or undervalued?
FNB is currently overvalued, with a market price of $17.94 exceeding the GF Value™ of $15.83 by 13.3%.
What is FNB's P/E ratio?
FNB's P/E ratio is 11.5x, which is 5% above its 5-year median of 11.0x, indicating that the stock is trading at a slight premium relative to its historical valuation.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
F.N.B. Corporation remains a buy, supported by peer-leading capital, disciplined underwriting, and robust credit quality. Q1 EPS of $0.38 met expectations, with 19% YoY growth driven by balance sheet expansion and margin improvement. FNB's conservative lending, strong reserves (3.8x nonperforming loans), and 11.4% CET1 ratio position it well against sector risks.
Nick Lotz Is Latest in Series of Experienced Leaders FNB Has Brought to Its Headquarters City
, /PRNewswire/ -- First National Bank, the largest subsidiary of F.N.B. Corporation (NYSE: FNB), announced today it has hired Nick Lotz as Chief Commercial Banking Officer, extending the Bank's successful track record of bringing exceptional talent to Pittsburgh. Lotz, who relocated from the Philadelphia area, will report to Chief Wholesale Banking Officer, Bryant Mitchell.
Nick Lotz With FNB's focus on continued growth and enhanced profitability, the newly created Chief Commercial Banking Officer role provides additional leadership overseeing the execution of strategies to build and strengthen relationships with corporate, institutional and public sector organizations throughout FNB's multi-state footprint. In addition to the Commercial Banking division, Lotz leads Treasury Management, Asset-Based Lending and Equipment Finance, guiding cross-functional teams who connect clients and prospects with best-in-class financing and advisory services.
"Nick is an exceptional banker with extensive experience. He joins an expansive group of executives FNB has brought to Pittsburgh from major metropolitan areas across the country," said Vincent J. Delie, Jr., Chairman, President and Chief Executive Officer of F.N.B. Corporation and First National Bank. "Our ability to attract established leaders from larger financial institutions demonstrates our prominence as an elite bank with the products, people and technology to grow and win business from competitors of all sizes."
Lotz earned his bachelor's degree and Master of Business Administration from the University of Pittsburgh and returns to the region after more than two decades leading corporate banking teams across the country from his Philadelphia base. He has held multiple executive leadership roles in large corporate and middle market banking with prominent international and regional banks and previously served as Head of Corporate Banking for both Flagstar Bank and Santander Bank. Additionally, he has had extensive experience with clients that utilized capital markets products and services throughout his career.
"FNB's culture and capabilities make it an exceptional place to work. I am very impressed by FNB's deep product set and view them as a premier corporate bank in the industry, particularly with their capital markets offerings which span investment banking, syndications and debt capital markets, and commodity and interest rate hedging," stated Lotz.
With a history of civic engagement, Lotz looks forward to pursuing Pittsburgh-area opportunities to give back as he and his family become ingrained in the local community.
About F.N.B. Corporation
F.N.B. Corporation (NYSE: FNB), headquartered in Pittsburgh, Pennsylvania, is a diversified financial services company operating in seven states and the District of Columbia. FNB's market coverage spans several major metropolitan areas, including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; Washington, D.C.; Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and High Point) in North Carolina; and Charleston, South Carolina. The Company has total assets of nearly $51 billion and more than 350 banking offices throughout Pennsylvania, Ohio, Maryland, West Virginia, North Carolina, South Carolina, Washington, D.C. and Virginia.
FNB provides a full range of commercial banking, consumer banking and wealth management solutions through its subsidiary network, which is led by its largest affiliate, First National Bank of Pennsylvania, founded in 1864. Commercial banking solutions include corporate banking, small business banking, investment real estate financing, government banking, business credit, capital markets and equipment financing. The consumer banking segment provides a full line of consumer banking products and services, including deposit products, mortgage lending, consumer lending and a complete suite of mobile and online banking services. FNB's wealth management services include asset management, private banking and insurance.
The common stock of F.N.B. Corporation trades on the New York Stock Exchange under the symbol "FNB" and is included in Standard & Poor's MidCap 400 Index with the Global Industry Classification Standard (GICS) Regional Banks Sub-Industry Index. Customers, shareholders and investors can learn more about this regional financial institution by visiting the F.N.B. Corporation website at www.fnbcorporation.com.
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Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.93% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: F.N.B. (FNB - Free Report) F.N.B. Corporation, based in Pittsburgh, PA, is a financial holding company that provides a variety of banking and financial services through its subsidiaries, with its largest being First National Bank of Pennsylvania, established in 1864.
FNB is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
Momentum investors should take note of this Finance stock. FNB has a Momentum Style Score of A, and shares are up 9.4% over the past four weeks.
Two analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.00 to $1.72 per share. FNB also boasts an average earnings surprise of +10.5%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, FNB should be on investors' short list.
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
Zacks Premium also includes the Zacks Style Scores.
What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
#1 (Strong Buy) stocks have produced an unmatched +23.93% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: F.N.B. (FNB - Free Report) F.N.B. Corporation, based in Pittsburgh, PA, is a financial holding company that provides a variety of banking and financial services through its subsidiaries, with its largest being First National Bank of Pennsylvania, established in 1864.
FNB is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 10.25; value investors should take notice.
Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.00 to $1.72 per share. FNB boasts an average earnings surprise of +10.5%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, FNB should be on investors' short list.
F.N.B. Corporation is a disciplined, high-performing regional bank trading below its intrinsic value, with strong execution and durable earnings growth. FNB's Q1 '26 results highlight accelerating loan growth, expanding fee income, improved efficiency, and robust credit quality, supporting a positive earnings trajectory. It is leveraging technology, diversified revenue streams, and the new Penn State partnership for incremental upside.
Key Takeaways FITB plans 1,750 branches by 2030, focused on fast-growing U.S. markets.Fifth Third expects Southeast expansion to generate $15-$20B in deposits over the next seven years.FITB's Comerica acquisition expanded its reach into 17 of the 20 fastest-growing U.S. markets. Fifth Third Bancorp’s (FITB - Free Report) branch expansion strategy has emerged as one of the company’s most significant growth initiatives in recent years. The bank has been aggressively expanding its physical presence across high-growth markets in the United States, particularly in the Southeast, Texas, Arizona and California. According to the company’s plans, Fifth Third aims to operate nearly 1,750 branches by 2030, with more than half located in these fast-growing markets.
The Southeast expansion has already shown encouraging progress. By the end of 2025, FITB had reached its 200th financial center in Florida and 100th branch in the Carolinas. These milestones demonstrate the bank’s commitment to increasing its footprint in regions experiencing strong population growth and rising business activity. Management estimates that the Southeast expansion alone could generate between $15 billion and $20 billion in deposits over the next seven years.
Fifth Third’s expansion strategy became even more impactful after its acquisition of Comerica in February 2026. The merger created the ninth-largest U.S. bank with nearly $294 billion in assets and significantly broadened FITB’s geographic reach. Through this acquisition, the bank operates in 17 of the 20 fastest-growing large markets in the country, including important regions in Texas and California. The combined organization expects to leverage Fifth Third’s strong retail and digital banking capabilities along with Comerica’s middle-market expertise to deepen customer relationships and accelerate deposit growth.
Another important aspect of FITB’s branch expansion strategy is its focus on balancing physical banking with digital innovation. Fifth Third intends to use its branches as relationship-building centers rather than simply transaction points. This approach supports cross-selling opportunities in wealth management, treasury services and commercial banking, helping diversify revenue streams beyond traditional interest income.
However, the expansion strategy also presents challenges. Rising non-interest expenses related to branch openings, technology investments and digitization initiatives are expected to pressure profitability in the near term. FITB has acknowledged that higher operating costs associated with expansion may continue affecting the company’s bottom line despite achieving efficiency improvements through cost-saving programs.
Overall, Fifth Third’s branch expansion move represents a bold long-term growth strategy aimed at capturing market share in rapidly expanding regions. Although the initiative increases short-term costs, the potential for higher deposits, stronger retail presence and diversified revenue generation could significantly strengthen the bank’s competitive position in the future.
FITB’s Price Performance & Zacks RankIn the past year, Fifth Third’s shares have gained 23.3% compared with the industry’s growth of 28.7%.
Image Source: Zacks Investment Research
Currently, the company carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Similar Steps Taken by Other Financial FirmsPNC Financial’s (PNC - Free Report) banking subsidiary, PNC Bank, N.A., plans to open more than 300 branches by 2030, increasing its total branch investment to about $2 billion.
The plan includes opening more than 300 branches across nearly 20 U.S. markets, renovating its entire branch network by 2029, and hiring more than 2,000 new employees to support growth and customer service efforts by 2030. By broadening its reach in high-growth regions, PNC aims to establish itself as a leading financial institution that effectively serves the diverse needs of consumers and businesses of all sizes.
F.N.B. Corp.’s (FNB - Free Report) main subsidiary, First National Bank, plans to open 30 branches in high-growth Southeast and Mid-Atlantic markets by 2030.
These new branches will accelerate the company’s ongoing expansion in North Carolina, South Carolina and the Bank's Mid-Atlantic Region, including Maryland, Virginia and Washington, DC. This move builds on FNB’s successful expansion strategy in South Carolina, where it has heavily invested in Greenville and Charleston.
F.N.B. Corporation remains a soft "Buy" as balance sheet and income statement expansion continue alongside solid asset and credit quality. Deposits and loans have grown steadily, with commercial real estate, residential mortgages, and commercial/industrial loans as key exposures. FNB trades at a discount to book value and remains cheaper than most peers, despite a price-to-earnings multiple of 11.6.
Company Recognized as a Top Employer in South Carolina and for Military Spouses
, /PRNewswire/ -- F.N.B. Corporation (NYSE: FNB) announced today that it has been named a Top Workplace in South Carolina for 2026, the third time FNB has been listed among the state's most dynamic and people-centric companies. In addition, FNB has been recognized as a Top Employer for Military Spouses.
"We are proud to be recognized for our focus on building a workplace culture that supports employee engagement, strong performance and a meaningful impact for our stakeholders. Our employees bring our culture to life, and FNB could not find a better source of talent than the spouses of those who serve in the U.S. military because of their dedication and commitment," said Vincent J. Delie, Jr., Chairman, President and Chief Executive Officer of F.N.B. Corporation and First National Bank. "Exciting, high-growth markets such as South Carolina are important to our continued growth, and our success is a direct reflection of our investments in our people and the local communities we serve."
Top Workplaces South Carolina
The Top Workplaces awards are administered by Energage, an independent research firm committed to studying workplaces and identifying companies that foster a healthy and fulfilled workforce. Anonymous employee feedback is used to measure workplaces in various categories, including values, communication and leadership, with only the highest-ranking companies recognized for their culture. FNB has earned Top Workplaces awards nationally and regionally, as well as honors for financial services, national culture excellence, leadership, innovation, employee well-being and professional development, among others.
As highlighted in FNB's 2025 branch expansion announcement, the Company has made substantial investments in Greenville and Charleston and today operates more than 200 customer touchpoints throughout the state — most recently adding branches in Summerville and West Ashley.
Top Employer for Military Spouses
FNB's recognition as a Top Employer for Military Spouses reflects a commitment to creating an inclusive and supportive workplace for military-connected families. The Company prioritizes flexible career opportunities, competitive benefits and thoughtful policies that address the challenges military spouses often face, including relocation and deployment-related transitions. Through proactive recruitment efforts, career development support and partnerships with organizations that support the families of service members, FNB enables military spouses and veterans to build meaningful, long-term careers while balancing the demands of their unique situations, reinforcing the Company's mission to do the right thing for its employees and communities. FNB also was named a Top Veteran-Friendly Employer by U.S. Veterans Magazine for 2024–2025.
FNB has earned more than 90 national and regional workplace and culture excellence awards, including as one of Newsweek's America's Most Admired Workplaces for 2026. Visit FNB's Awards and Recognition page to learn more about the honors the Company has received for its outstanding culture, industry-leading client experience and strong community leadership. For opportunities to join the Company's award-winning team, visit fnb-online.com/careers.
About F.N.B. Corporation
F.N.B. Corporation (NYSE: FNB), headquartered in Pittsburgh, Pennsylvania, is a diversified financial services company operating in seven states and the District of Columbia. FNB's market coverage spans several major metropolitan areas, including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; Washington, D.C.; Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and High Point) in North Carolina; and Charleston, South Carolina. The Company has total assets of nearly $51 billion and more than 350 banking offices throughout Pennsylvania, Ohio, Maryland, West Virginia, North Carolina, South Carolina, Washington, D.C. and Virginia.
FNB provides a full range of commercial banking, consumer banking and wealth management solutions through its subsidiary network, which is led by its largest affiliate, First National Bank of Pennsylvania, founded in 1864. Commercial banking solutions include corporate banking, small business banking, investment real estate financing, government banking, business credit, capital markets and equipment financing. The consumer banking segment provides a full line of consumer banking products and services, including deposit products, mortgage lending, consumer lending and a complete suite of mobile and online banking services. FNB's wealth management and advisory services include asset management, private banking and insurance.
The common stock of F.N.B. Corporation trades on the New York Stock Exchange under the symbol "FNB" and is included in Standard & Poor's MidCap 400 Index with the Global Industry Classification Standard (GICS) Regional Banks Sub-Industry Index. Customers, shareholders and investors can learn more about this regional financial institution by visiting the F.N.B. Corporation website at www.fnbcorporation.com.
Company Recognized as a Top Employer in South Carolina and for Military Spouses
, /PRNewswire/ -- F.N.B. Corporation (NYSE: FNB) announced today that it has been named a Top Workplace in South Carolina for 2026, the third time FNB has been listed among the state's most dynamic and people-centric companies. In addition, FNB has been recognized as a Top Employer for Military Spouses.
"We are proud to be recognized for our focus on building a workplace culture that supports employee engagement, strong performance and a meaningful impact for our stakeholders. Our employees bring our culture to life, and FNB could not find a better source of talent than the spouses of those who serve in the U.S. military because of their dedication and commitment," said Vincent J. Delie, Jr., Chairman, President and Chief Executive Officer of F.N.B. Corporation and First National Bank. "Exciting, high-growth markets such as South Carolina are important to our continued growth, and our success is a direct reflection of our investments in our people and the local communities we serve."
Top Workplaces South Carolina
The Top Workplaces awards are administered by Energage, an independent research firm committed to studying workplaces and identifying companies that foster a healthy and fulfilled workforce. Anonymous employee feedback is used to measure workplaces in various categories, including values, communication and leadership, with only the highest-ranking companies recognized for their culture. FNB has earned Top Workplaces awards nationally and regionally, as well as honors for financial services, national culture excellence, leadership, innovation, employee well-being and professional development, among others.
As highlighted in FNB's 2025 branch expansion announcement, the Company has made substantial investments in Greenville and Charleston and today operates more than 200 customer touchpoints throughout the state — most recently adding branches in Summerville and West Ashley.
Top Employer for Military Spouses
FNB's recognition as a Top Employer for Military Spouses reflects a commitment to creating an inclusive and supportive workplace for military-connected families. The Company prioritizes flexible career opportunities, competitive benefits and thoughtful policies that address the challenges military spouses often face, including relocation and deployment-related transitions. Through proactive recruitment efforts, career development support and partnerships with organizations that support the families of service members, FNB enables military spouses and veterans to build meaningful, long-term careers while balancing the demands of their unique situations, reinforcing the Company's mission to do the right thing for its employees and communities. FNB also was named a Top Veteran-Friendly Employer by U.S. Veterans Magazine for 2024–2025.
FNB has earned more than 90 national and regional workplace and culture excellence awards, including as one of Newsweek's America's Most Admired Workplaces for 2026. Visit FNB's Awards and Recognition page to learn more about the honors the Company has received for its outstanding culture, industry-leading client experience and strong community leadership. For opportunities to join the Company's award-winning team, visit fnb-online.com/careers.
About F.N.B. Corporation
F.N.B. Corporation (NYSE: FNB), headquartered in Pittsburgh, Pennsylvania, is a diversified financial services company operating in seven states and the District of Columbia. FNB's market coverage spans several major metropolitan areas, including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; Washington, D.C.; Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and High Point) in North Carolina; and Charleston, South Carolina. The Company has total assets of nearly $51 billion and more than 350 banking offices throughout Pennsylvania, Ohio, Maryland, West Virginia, North Carolina, South Carolina, Washington, D.C. and Virginia.
FNB provides a full range of commercial banking, consumer banking and wealth management solutions through its subsidiary network, which is led by its largest affiliate, First National Bank of Pennsylvania, founded in 1864. Commercial banking solutions include corporate banking, small business banking, investment real estate financing, government banking, business credit, capital markets and equipment financing. The consumer banking segment provides a full line of consumer banking products and services, including deposit products, mortgage lending, consumer lending and a complete suite of mobile and online banking services. FNB's wealth management and advisory services include asset management, private banking and insurance.
The common stock of F.N.B. Corporation trades on the New York Stock Exchange under the symbol "FNB" and is included in Standard & Poor's MidCap 400 Index with the Global Industry Classification Standard (GICS) Regional Banks Sub-Industry Index. Customers, shareholders and investors can learn more about this regional financial institution by visiting the F.N.B. Corporation website at www.fnbcorporation.com.
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Key Takeaways F.N.B. Corp shares gained 26.9% in a year, outperforming industry peers.FNB plans 30 new branches by 2030 to expand in high-growth Southeast and Mid-Atlantic markets.F.N.B. Corp raised its dividend 8.3% and authorized a $250M share repurchase plan. Shares of F.N.B. Corporation (FNB - Free Report) have gained 26.9% in the past year, outperforming the industry’s 8.5% growth. In the same time frame, the S&P 500 Index has rallied 30.3%.
If we compare the company’s price performance with its close peers like Associated Banc-Corp (ASB - Free Report) and Commerce Bancshares, Inc. (CBSH - Free Report) , it appears that the FNB stock has outperformed both. In the past year, ASB shares have rallied 21.2%, while the CBSH stock has declined 17.2%.
1-Year Price Performance
Image Source: Zacks Investment Research
Does the FNB stock have more upside left despite recent strength in price? Let us find out by looking at its fundamentals and growth prospects.
Key Positives of F.N.B. CorpRevenue Strength: The company’s total revenues have witnessed a compound annual growth rate (CAGR) of 6.5% over the last six years (2019-2025), supported by robust loan growth (seeing a CAGR of 6.5% over the five years ended 2025). Both revenues and net loans increased in the first quarter of 2026 as well.
Revenue Trend
Image Source: Zacks Investment Research
In September 2025, F.N.B. Corp announced a de novo branch expansion in high-growth Southeast and Mid-Atlantic markets, with plans to open 30 branches by 2030. Supported by the company’s solid loan and deposit pipeline, its initiatives to strengthen non-interest income, along with efforts to enhance product suite, leverage artificial intelligence, sustain client acquisition and expand service, top-line growth is expected to continue in the near term.
The Zacks Consensus Estimate for FNB’s 2026 and 2027 revenues are pegged at $1.90 billion and $2.04 billion, respectively, which indicate year-over-year growth rates of 7.4% and 7.6%.
Revenue Estimates
Image Source: Zacks Investment Research
Expanding Net Interest Margin (NIM): The Federal Reserve lowered interest rates by 75 basis points in 2025. Despite this, in 2025, the company’s net interest margin (NIM) improved to 3.19% from 3.09% in 2024. The upward trend continued in the first quarter of 2026.
Now, supported by stabilizing funding/deposit costs, F.N.B. Corp’s NIM is expected to continue to improve. The company’s balance sheet repositioning action taken in 2024 and the rolling off of swaps will further support growth.
Solid Inorganic Expansion Initiatives: Since 2005, FNB has successfully integrated many buyouts. Also, it has acquired several branches from other banks.
In the second quarter of 2025, the company acquired Raptor to strengthen its capital markets capabilities (in March 2026, it expanded its public finance offerings with municipal bond underwriting). In 2022, F.N.B. Corp completed the acquisition of UB Bancorp (expanding its presence in North Carolina) and Howard Bancorp. These, along with prior deals, are expected to be accretive to the company’s earnings.
Robust Digitization Efforts: F.N.B. Corp is accelerating its digital transformation by adding business loan products to its eStore Common application, expanding a platform that already enables customers to apply for more than 50 consumer and business banking products in one place. This initiative is expected to support the company’s long-term “Clicks-to-Bricks” strategy, launched in 2016 by CEO Vincent J. Delie Jr., which blends digital capabilities with branch network to create a seamless experience across mobile, online and in-branch channels.
By integrating business lending into its digital ecosystem, the bank aims to deepen relationships with small business clients, improve onboarding efficiency and increase cross-selling opportunities. The bank is also using artificial intelligence and advanced data analytics to simplify applications, reduce manual work and speed decision-making, resulting in faster service and greater convenience for customers. Overall, F.N.B. Corp’s digital investments are strengthening engagement, expanding access and supporting long-term growth.
Solid Balance Sheet & Capital Position: FNB has a decent liquidity position. As of March 31, 2026, it had total debt worth $4.2 billion (comprising 52% of short-term borrowings), and cash and cash equivalents of $2.7 billion.
Moreover, supported by a robust balance sheet position and earnings strength, the company’s capital distributions seem sustainable, through which it will keep enhancing shareholder value.
In April 2026, the company hiked its quarterly dividend 8.3% to 13 cents per share. It also has a share repurchase program in place. In April 2026, the company authorized a $250-million share repurchase program, adding to the remaining $50 million from the previous share repurchase program authorized in April 2022.
F.N.B. Corp’s Near-Term HeadwindsWeak Asset Quality: The company’s asset quality has been deteriorating over the past few years. While provision for credit losses declined in 2021, the metric saw a CAGR of 11.6% over the six years ended 2025. Net charge-offs (NCOs) witnessed a CAGR of 16.4% over the same time frame. Both provisions and NCOs increased in the first quarter of 2026 as well.
The company’s asset quality is expected to remain under pressure in the near term amid the tough macroeconomic backdrop. We expect provisions to witness a CAGR of 7.3% by 2028. NCOs are expected to see a CAGR of 8% by 2028.
Elevated Expense Levels: F.N.B. Corp’s expenses have been elevated over the past several years. Total non-interest expenses witnessed a six-year (ended 2025) CAGR of 6.4%, with the uptrend continuing in first-quarter 2026. The increase was mainly due to higher salaries and benefits costs, as well as strategic acquisitions.
Expense Trend
Image Source: Zacks Investment Research
Overall costs are expected to remain elevated as the company continues to invest in franchises, digitize operations and grow through acquisitions. We project non-interest expenses (GAAP) to rise 1.2%, 2.4% and 1.1% in 2026, 2027 and 2028, respectively.
Analyst Sentiments for FNBOver the past 30 days, the Zacks Consensus Estimate for F.N.B. Corp’s 2026 earnings of $1.73 per share has been revised marginally upward. Its 2027 earnings estimate of $1.96 has been unchanged. The estimated figures indicate year-over-year growth rates of 8.8% and 13.5% for 2026 and 2027, respectively.
Earnings Estimate Revision Trend
Image Source: Zacks Investment Research
Should You Invest in F.N.B. Corp Stock Now?Opportunistic acquisitions, de novo branch expansion in high-growth markets and a solid loan balance are expected to continue to drive the company’s top-line growth. The digitization of banking operations aligns with its long-term growth plan. Supported by a solid liquidity position, the company is expected to keep enhancing shareholder value through efficient capital distributions.
In terms of its valuation, the FNB stock is currently trading at a trailing 12-month price-to-earnings (P/E) ratio of 10.63X, below the industry average of 11.49. This shows that FNB is currently undervalued than its peers.
P/E TTM
Image Source: Zacks Investment Research
Despite a favorable valuation, it does not seem a wise idea to invest in the FNB stock immediately. Because of persistently increasing expenses and a weak asset quality, the company’s profitability will likely be hampered to an extent in the near term. Moreover, analysts are not very optimistic regarding the company’s earnings growth potential.
Nevertheless, those who already own the FNB stock should hold on to it for long-term gains. Currently, FNB carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Partnership Reflects Shared Commitment to Innovation and Economic Growth Following the Opening of PIT's New Terminal
, /PRNewswire/ -- First National Bank, the largest subsidiary of F.N.B. Corporation (NYSE: FNB), today announced that it is a Proud Partner of Pittsburgh International Airport (PIT). The collaboration follows the opening of PIT's new, $1.7 billion landside terminal in November — a once-in-a-generation investment that mirrors FNB's own transformation and commitment to shaping southwestern Pennsylvania's future.
FNB’s Digital Banking Center at Pittsburgh International Airport. Together, PIT and FNB are ushering in a new era for the Greater Pittsburgh region: an airport redefining the travel experience and the premier Pittsburgh bank delivering innovative financial solutions and digital experiences that keep customers moving forward.
"Pittsburgh International Airport's new terminal represents connectivity, progress and innovation — attributes that also define FNB," said Vincent J. Delie, Jr., Chairman, President and Chief Executive Officer of F.N.B. Corporation and First National Bank. "As a Proud Partner of PIT, we are combining our technology-driven banking solutions like eStore® and the Common app with Pittsburgh International Airport's vision for a world-class travel experience, ensuring that Pittsburgh remains a hub where economic opportunities take off. In the fast-paced world of PIT, travelers and airport employees will be able to acquire over 50 products and services in a fraction of the time to address the complete range of their financial needs just by stopping by our FNB Digital Banking Center."
Delie added, "We wish to congratulate Christina Cassotis and the entire team on the successful completion of the terminal construction and renovations."
With approximately 10 million annual travelers, PIT offers FNB a unique opportunity for far-reaching exposure each year, including:
Technology‑forward banking experiences, including a visually stunning Digital Banking Center located on the new terminal's Departure Level, allowing travelers and airport employees to access the Company's award‑winning digital platform eStore, along with FNB ATMs, an ATM with TellerChat — where users can engage with a banker via live video seven days a week, even during off‑hours — and a foreign currency exchange dispenser providing instant access to international cash before departure. Prominent brand visibility throughout the new terminal, with FNB featured extensively across PIT's expansive digital signage network in high‑traffic passenger areas including departures, arrivals, baggage claim, the central core and key circulation corridors. Bridging connections with travelers on hundreds of weekly flights departing PIT to destinations across and beyond FNB's physical footprint, leveraging the Company's regional strength and national digital banking capabilities to stay connected with customers wherever they travel. "Our vision is for Pittsburgh International Airport to be one of the most innovative and passenger-focused airports in the world," said Christina Cassotis, Chief Executive Officer of PIT. "Partnering with FNB enables us to create a more convenient, connected experience for travelers in an airport built for Pittsburgh, by Pittsburgh."
The announcement builds on FNB's long history of investment in the Greater Pittsburgh area. From its new corporate headquarters to billions of dollars in small-business lending, community reinvestment and philanthropic contributions, FNB proudly embraces its role as an economic engine integral to the vitality of southwestern Pennsylvania and all of the communities it serves.
With over 75 branches and nearly 150 ATMs serving the Pittsburgh Metropolitan Statistical Area — part of a network spanning more than 350 branches and 1,800 ATMs in total — FNB combines more than 160 years of service with the innovation of a forward-looking financial institution.
About F.N.B. Corporation
F.N.B. Corporation (NYSE: FNB), headquartered in Pittsburgh, Pennsylvania, is a diversified financial services company operating in seven states and the District of Columbia. FNB's market coverage spans several major metropolitan areas, including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; Washington, D.C.; Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and High Point) in North Carolina; and Charleston, South Carolina. The Company has total assets of nearly $51 billion and more than 350 banking offices throughout Pennsylvania, Ohio, Maryland, West Virginia, North Carolina, South Carolina, Washington, D.C. and Virginia.
FNB provides a full range of commercial banking, consumer banking and wealth management solutions through its subsidiary network, which is led by its largest affiliate, First National Bank of Pennsylvania, founded in 1864. Commercial banking solutions include corporate banking, small business banking, investment real estate financing, government banking, business credit, capital markets and lease financing. The consumer banking segment provides a full line of consumer banking products and services, including deposit products, mortgage lending, consumer lending and a complete suite of mobile and online banking services. FNB's wealth management and advisory services include asset management, private banking and insurance.
The common stock of F.N.B. Corporation trades on the New York Stock Exchange under the symbol "FNB" and is included in Standard & Poor's MidCap 400 Index with the Global Industry Classification Standard (GICS) Regional Banks Sub-Industry Index. Customers, shareholders and investors can learn more about this regional financial institution by visiting the F.N.B. Corporation website at www.fnbcorporation.com.
About Pittsburgh International Airport:
PIT serves approximately 10 million passengers annually. With the opening of its new terminal in 2025, PIT transforms the passenger experience and showcases the region's thriving economy as its new front door. PIT has recently won numerous prestigious awards, including from the American Society of Civil Engineers, Pennsylvania Society of Professional Engineers and was named by Fast Company magazine as One of the Most Innovative Companies in the World. PIT made history as the first airport to be awarded Universal Design Certification from the University at Buffalo's Center for Inclusive Design and Environmental Access, underscoring its global leadership in accessibility. Future Travel Experience named PIT a winner in its Pioneer innovation awards, and PIT's first-of-its-kind microgrid has garnered numerous accolades for resiliency and sustainability. For more information visit www.flypittsburgh.com.
Next Generation of Financial Professionals Receive Hands-On Experience and Access to FNB's Award-Winning Culture
, /PRNewswire/ -- F.N.B. Corporation (NYSE: FNB) announced today its 2026 summer internship class is its largest to date, part of nearly 150 seasonal team members the Company will welcome in the coming weeks.
FNB will welcome interns in a variety of departments — including Consumer Banking, Corporate Banking, Capital Markets, Credit Administration, Risk Management, Compliance, Audit, Finance, Marketing, Information Technology and Data — where they will gain hands-on experience by working directly with leaders on real-world projects while learning about the financial services industry.
According to the Department of Labor, Generation Z now represents a growing share of the U.S. workforce, surpassing Baby Boomers. The demographic shift presents opportunities for employers like FNB to use internship and development programs to further strengthen capabilities, spark innovation and build a more resilient, future-ready employee.
In line with its commitment to maintain a culture where employees at all levels can thrive, FNB provides clear, comprehensive career pathways spanning the journey from entry-level to seasoned professional. For example, many interns are hired as full-time employees, where they may progress through thoughtfully curated programs such as the:
FNB Development Program. The 12-month program serves as a springboard into banking or financial services careers by combining meaningful work experience with professional growth opportunities. FNB offers Development Programs for Advisory Business, Capital Markets, Commercial Credit, Consumer Banking, Corporate Finance and Analytics, Enterprise Operations, Independent Risk Management, Internal Audit and Treasury Management.
Emerging Leaders Program, a multi-faceted banking leadership development program introduced five years ago to identify and develop high-impact employees. The ten-month curriculum includes close engagement with executives, in-depth leadership training and skills development, and real experience with the process of moving a financial services initiative from concept to completion. "Investing in early-career talent through internships and workplace development is essential to our long-term success," said Vincent Delie, Chairman, President and Chief Executive Officer of F.N.B. Corporation and First National Bank. "Our programs give participants meaningful, real-world experiences while helping them build the skills, confidence and relationships needed to cultivate rewarding careers in banking. Our proven growth strategy creates career opportunities for high-caliber entry-level employees who ensure FNB remains strong, innovative and well positioned for the future."
Designed to foster future talent and immerse participants in FNB's culture, the paid summer internship program features weekly engagement activities, including lunch-and-learns with executive leaders and structured networking opportunities. The internship culminates in a summit at the end of the year in Pittsburgh, PA, where FNB's headquarters is located, where interns hear from Company leaders, including Delie. The summit also includes a panel of former interns who now work full time at FNB.
To further support new and current employees, FNB offers an award-winning culture that includes a range of resources that help employees recognize their potential, with a formal mentorship program, extensive training and learning services, and ample networking and volunteering opportunities. Full-time employees also have access to a comprehensive benefits package, featuring an industry‑leading 401(k) match, tuition reimbursement and mental health support through the Employee Assistance Program (EAP), demonstrating the Company's commitment to total wellness.
Demonstrating its success empowering employees to thrive, FNB has earned more than 90 workplace awards based on employee feedback, including the National Culture Excellence award from Energage for Professional Development for the past three years.
Visit FNB's Careers page to explore internships, early-career banking jobs and full-time financial services opportunities with one of the industry's most compelling employers of choice.
About F.N.B. Corporation
F.N.B. Corporation (NYSE: FNB), headquartered in Pittsburgh, Pennsylvania, is a diversified financial services company operating in seven states and the District of Columbia. FNB's market coverage spans several major metropolitan areas, including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; Washington, D.C.; Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and High Point) in North Carolina; and Charleston, South Carolina. The Company has total assets of nearly $51 billion and more than 350 banking offices throughout Pennsylvania, Ohio, Maryland, West Virginia, North Carolina, South Carolina, Washington, D.C. and Virginia.
FNB provides a full range of commercial banking, consumer banking and wealth management solutions through its subsidiary network, which is led by its largest affiliate, First National Bank of Pennsylvania, founded in 1864. Commercial banking solutions include corporate banking, small business banking, investment real estate financing, government banking, business credit, capital markets and equipment financing. The consumer banking segment provides a full line of consumer banking products and services, including deposit products, mortgage lending, consumer lending and a complete suite of mobile and online banking services. FNB's wealth management and advisory services include asset management, private banking and insurance.
The common stock of F.N.B. Corporation trades on the New York Stock Exchange under the symbol "FNB" and is included in Standard & Poor's MidCap 400 Index with the Global Industry Classification Standard (GICS) Regional Banks Sub-Industry Index. Customers, shareholders and investors can learn more about this regional financial institution by visiting the F.N.B. Corporation website at www.fnbcorporation.com.
Wall Street expects a year-over-year decline in earnings on higher revenues when Pilgrim's Pride (PPC - Free Report) reports results for the quarter ended March 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on April 29. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis poultry producer is expected to post quarterly earnings of $0.69 per share in its upcoming report, which represents a year-over-year change of -47.3%.
Revenues are expected to be $4.5 billion, up 0.8% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Pilgrim's Pride?For Pilgrim's Pride, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -16.79%.
On the other hand, the stock currently carries a Zacks Rank of #4.
So, this combination makes it difficult to conclusively predict that Pilgrim's Pride will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Pilgrim's Pride would post earnings of $0.78 per share when it actually produced earnings of $0.68, delivering a surprise of -12.82%.
Over the last four quarters, the company has beaten consensus EPS estimates three times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Pilgrim's Pride doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Expected Results of an Industry PlayerSmithfield Foods, Inc. (SFD - Free Report) , another stock in the Zacks Food - Meat Products industry, is expected to report earnings per share of $0.58 for the quarter ended March 2026. This estimate points to no change from the year-ago quarter. Revenues for the quarter are expected to be $3.74 billion, down 0.8% from the year-ago quarter.
Over the last 30 days, the consensus EPS estimate for Smithfield Foods, Inc. has been revised 10.1% up to the current level. Nevertheless, the company now has an Earnings ESP of 0.00%, reflecting an equal Most Accurate Estimate.
When combined with a Zacks Rank of #1 (Strong Buy), this Earnings ESP makes it difficult to conclusively predict that Smithfield Foods, Inc. will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Generational wealth doesn't announce itself. It doesn't come with a viral moment or a TV segment. It usually comes from owning a piece of something that has kept growing over time, through recessions, through trade wars, through every market cycle, even as short-term considerations may have convinced other investors to sell. For example, back in the 1980s, Home Depot (HD +0.28%) was probably viewed as a boring little hardware store chain. But over the decades, it has behaved more like a growth stock, increasing in value by more than 10,000-fold.
The three companies below aren't flashy. But each one is doing something structurally interesting that I think most investors haven't given much thought to. That's usually where opportunities lie for making investments that can deliver generational wealth.
Image source: Getty Images.
1. Church & Dwight is running one of the best brand incubators nobody talks about Most people who are aware of Church & Dwight (CHD 1.13%) will know it as the company that makes Arm & Hammer baking soda. That framing is about 20 years out of date.
Over the last four years, Church & Dwight has assembled one of the more interesting portfolios in the consumer goods space. Hero Cosmetics -- the acne patch brand it acquired in 2022 -- has expanded beyond its original product into a full Gen Z skincare line, with facial cleansers launching nationally in mid-2026, covering a range of acne consumer needs. TheraBreath, which the company acquired for $580 million in 2021 when international sales represented less than 10% of the brand's sales, is now being scaled as part of one of the company's three explicit long-term growth mandates.
At the Consumer Analyst Group of New York conference in February, CEO Rick Dierker laid out his roadmap for the company plainly: Grow Arm & Hammer sales from $2 billion to $3 billion, scale its oral care products business from $1 billion to $1.5 billion, and expand internationally from $1 billion to $2 billion. Those are operating priorities backed by a balance sheet that, following the divestiture of the vitamin business, has net debt down to 0.6 times normalized EBITDA.
The reason I think Church & Dwight is a generational holding is the model itself. It finds category-leading brands in underpenetrated spaces, acquires them at fair prices, and then uses its distribution infrastructure to take them global. Hero had almost no international presence when Church & Dwight bought it. TheraBreath had minimal international presence. The pattern is clear, and it works.
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2. Pilgrim's Pride has a brand that hit $1 billion before anyone was paying attention Pilgrim's Pride (PPC +0.54%) is one of the world's largest poultry producers. That sounds like a commodity business with low margins, cyclical patterns, and undifferentiated products. The Just Bare brand is why that framing is increasingly wrong.
According to the company's Feb. 19 press release, Just Bare -- its premium all-natural chicken brand -- surpassed $1 billion in annual retail sales in 2025, growing 45% year over year. The company described it as "the fastest sales momentum in the category." Those results reflect a company successfully running a branded consumer foods playbook inside a business that most investors still price like a bulk processor.
The bet on Pilgrim's Pride isn't the chicken. It's whether Just Bare becomes what the company's prepared foods division grows around. Pilgrim's Pride has the distribution infrastructure to scale that brand significantly further. If it does, the market will eventually reprice the company, not as a commodity producer, but as a branded foods platform with a premium anchor brand.
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3. Energizer Holdings controls a market nobody is racing into There's a reason Energizer Holdings (ENR +2.47%) doesn't get much coverage: Batteries are boring. Nobody is disrupting the alkaline battery market. No start-up is pivoting into AA cells. That is precisely what makes it an interesting long-term holding.
Last year, the company bought Advanced Power Solutions, a major manufacturer of Panasonic-brand batteries in Europe. On its fiscal 2026 Q1 earnings call, the company said its transition of customers from the Panasonic brand to Energizer was well underway, and expected to contribute more than $30 million of organic growth this year.
Three months earlier, in the fiscal Q4 earnings release, CEO Mark LaVigne said the company "delivered strong earnings in Fiscal 2025 by staying agile and focused in a volatile environment" -- and for fiscal 2026, pricing actions and production credits are expected to largely offset tariff-related headwinds while the APS integration adds incremental scale.
What most investors miss when it comes to this company is the structural nature of battery demand. Every connected device, every remote, every flashlight runs on batteries. The secular trend toward connected devices doesn't hurt Energizerbecause the company also operates across adjacent categories like automotive products, giving it multiple avenues for demand.
Cwm LLC reduced its stake in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC – Free Report) by 34.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,771 shares of the company’s stock after selling 32,387 shares during the quarter. Cwm LLC’s holdings in Pilgrim’s Pride were worth $2,369,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. New York State Common Retirement Fund boosted its holdings in shares of Pilgrim’s Pride by 1.3% in the second quarter. New York State Common Retirement Fund now owns 17,817 shares of the company’s stock valued at $801,000 after acquiring an additional 230 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Pilgrim’s Pride by 23.5% in the fourth quarter. Signaturefd LLC now owns 1,350 shares of the company’s stock valued at $53,000 after acquiring an additional 257 shares in the last quarter. Kendall Capital Management boosted its holdings in shares of Pilgrim’s Pride by 4.3% in the third quarter. Kendall Capital Management now owns 6,385 shares of the company’s stock valued at $260,000 after acquiring an additional 265 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Pilgrim’s Pride by 3.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 9,824 shares of the company’s stock worth $400,000 after buying an additional 333 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of Pilgrim’s Pride by 0.9% in the 2nd quarter. California State Teachers Retirement System now owns 43,476 shares of the company’s stock worth $1,956,000 after buying an additional 380 shares in the last quarter. 16.64% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Pilgrim’s Pride In related news, CFO Matthew R. Galvanoni sold 6,963 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $43.52, for a total value of $303,029.76. Following the completion of the transaction, the chief financial officer owned 91,397 shares in the company, valued at $3,977,597.44. This trade represents a 7.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 82.23% of the stock is owned by company insiders.
Pilgrim’s Pride Price Performance NASDAQ PPC opened at $33.63 on Friday. The stock has a market capitalization of $8.00 billion, a P/E ratio of 7.41 and a beta of 0.46. Pilgrim’s Pride Corporation has a 1 year low of $32.23 and a 1 year high of $54.74. The business’s fifty day moving average is $37.69 and its two-hundred day moving average is $38.84. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.76 and a current ratio of 1.47.
Pilgrim’s Pride (NASDAQ:PPC – Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.14). Pilgrim’s Pride had a net margin of 5.85% and a return on equity of 35.15%. The company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the prior year, the company posted $1.35 EPS. Pilgrim’s Pride’s quarterly revenue was up 3.3% on a year-over-year basis. On average, research analysts forecast that Pilgrim’s Pride Corporation will post 4.14 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In PPC has been the topic of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Pilgrim’s Pride in a research note on Monday, December 29th. Stephens set a $40.00 price objective on Pilgrim’s Pride in a research note on Wednesday, April 15th. Zacks Research downgraded Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 11th. BMO Capital Markets reduced their price objective on shares of Pilgrim’s Pride from $42.00 to $40.00 and set a “market perform” rating for the company in a research report on Wednesday, March 25th. Finally, The Goldman Sachs Group reduced their price objective on shares of Pilgrim’s Pride from $44.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $41.00.
Get Our Latest Stock Report on PPC
Pilgrim’s Pride Company Profile (Free Report)
Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.
The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.
Read More Five stocks we like better than Pilgrim’s Pride
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Key Takeaways Pilgrim's Pride is converting a Big Bird commodity plant into a case-ready facility to support growth.Prepared foods sales remain solid, supported by strong branded performance across channels.Favorable chicken pricing drives chicken demand as competing protein costs rise significantly. As Pilgrim’s Pride Corporation (PPC - Free Report) prepares to unveil its first-quarter fiscal 2026 earnings on April 29, after market close, investors are eager to see if the company can beat market expectations.
The Zacks Consensus Estimate for revenues is pegged at $4.5 billion, implying 0.8% growth from the prior year. Meanwhile, the consensus mark for earnings has been steady at 69 cents per share in the past seven days, though it indicates a decline of 47.3% from the year-ago period. PPC has a trailing four-quarter earnings surprise of 2.3%, on average.
Key Factors to Observe for PPC's Q1 EarningsPilgrim's Pride has been benefiting from continued operational improvements across its segments, particularly within its Big Bird operations, where the company improved plant and live-operations efficiency. At the same time, the company is evolving its Fresh portfolio to support key customer growth. As part of this strategy, the company is converting a Big Bird commodity plant into a case-ready facility, a transition expected to enhance product offerings and better align operations with customer needs.
Prepared Foods has been a key growth driver, with sales increasing 18% year over year in the fourth quarter of 2025, supported by strong branded performance across both retail and foodservice channels as brand-building initiatives continued to gain traction. In addition, PPC’s focus on innovation, particularly in bold flavor profiles, has resonated with consumers, with products such as its Cheesy Jalapeno Nugget line receiving category recognition at the People’s Food Awards.
Favorable protein pricing dynamics are likely to have aided Pilgrim’s Pride. During the fourth quarter of 2025, chicken continued to offer a clear affordability advantage over competing proteins. While prices for certain chicken cuts softened, competing proteins, particularly ground beef, remained elevated. This widening price gap supported chicken demand as consumers continued to seek affordable protein options, driving volume growth across cuts, including boneless thighs.
That said, the company may have faced profitability pressure from headwinds related to commodity pricing.
What the Zacks Model Says About PPCOur proven model does not conclusively predict an earnings beat for PPC this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.
PPC has an Earnings ESP of -16.79% and a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With Favorable CombinationHere are three companies you may also want to consider, as our model shows that these have the right combination of elements to post an earnings beat this season:
The Coca-Cola Company (KO - Free Report) has an Earnings ESP of +1.00% and currently carries a Zacks Rank of 3. The Zacks Consensus Estimate for first-quarter 2026 earnings per share is pegged at 81 cents, implying 11% year-over-year growth. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for quarterly revenues is pegged at $12.3 billion, which indicates an increase of 10.6% from the figure reported in the prior-year quarter. KO has a trailing four-quarter earnings surprise of 3.6%, on average.
Celsius Holdings, Inc. (CELH - Free Report) has an Earnings ESP of +3.81% and currently carries a Zacks Rank of 3. The Zacks Consensus Estimate for first-quarter fiscal 2026 earnings per share is pegged at 29 cents, implying a 61.1% year-over-year growth.
The Zacks Consensus Estimate for quarterly revenues is pegged at $755.2 million, which indicates an increase of 129.4% from the figure reported in the prior-year quarter. CELH has a trailing four-quarter earnings surprise of 9.4%, on average.
Constellation Brands, Inc. (STZ - Free Report) has an Earnings ESP of +2.44% and currently carries a Zacks Rank of 3. The Zacks Consensus Estimate for first-quarter fiscal 2027 earnings per share is pegged at $3.24, implying 0.6% year-over-year growth.
The Zacks Consensus Estimate for quarterly revenues is pegged at $2.4 billion, which indicates a decline of 3.5% from the figure reported in the prior-year quarter. STZ has a trailing four-quarter earnings surprise of 7.1%, on average.
Smithfield Foods, Inc. (SFD - Free Report) came out with quarterly earnings of $0.64 per share, beating the Zacks Consensus Estimate of $0.58 per share. This compares to earnings of $0.58 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +10.35%. A quarter ago, it was expected that this company would post earnings of $0.66 per share when it actually produced earnings of $0.83, delivering a surprise of +25.76%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Smithfield Foods, Inc., which belongs to the Zacks Food - Meat Products industry, posted revenues of $3.8 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 1.55%. This compares to year-ago revenues of $3.77 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Smithfield Foods, Inc. shares have added about 28.7% since the beginning of the year versus the S&P 500's gain of 4.8%.
What's Next for Smithfield Foods, Inc.?While Smithfield Foods, Inc. has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Smithfield Foods, Inc. was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.76 on $3.62 billion in revenues for the coming quarter and $2.74 on $15.7 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Food - Meat Products is currently in the top 39% 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.
Pilgrim's Pride (PPC - Free Report) , another stock in the same industry, has yet to report results for the quarter ended March 2026. The results are expected to be released on April 29.
This poultry producer is expected to post quarterly earnings of $0.69 per share in its upcoming report, which represents a year-over-year change of -47.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Pilgrim's Pride's revenues are expected to be $4.5 billion, up 0.8% from the year-ago quarter.
GREELEY, Colo., April 29, 2026 (GLOBE NEWSWIRE) -- Pilgrim’s Pride Corporation (NASDAQ: PPC), one of the world's leading food companies, reports its first quarter 2026 financial results.
First Quarter Highlights
Net Sales of $4.5 billion.Consolidated GAAP Operating Income margin of 3.6%.GAAP Net Income of $101.5 million and GAAP EPS of $0.43. Adjusted Net Income of $121.7 million, and Adjusted EPS of $0.51.Adjusted EBITDA of $308.1 million, or a 6.8% margin, with Adjusted EBITDA margins of 7.0% in the U.S., 7.8% in Europe, and 3.1% in Mexico.The U.S. Fresh business implemented several projects during the quarter to upgrade product mix and enhance operational efficiencies in Big Bird, while growing Key Customer partnerships. Together, these projects will reinforce the foundation of future growth while reducing portfolio volatility and increasing returns. The impacts from plant downtime and ramp up from these projects, along with weakened commodity fundamentals and disruptions from weather events, contributed to reduced profitability compared to last year.U.S. Prepared Foods growth continues to accelerate, with record retail volumes. Just Bare® continues to resonate throughout the marketplace as retail sales increased nearly 40% versus last year. To support this growth, the construction of the new value-added facility in Walker County, Georgia, remains on schedule.Europe maintained steady results compared to last year given its balanced portfolio across proteins and meal occasions. Rollover® continued to outpace the category average, whereas Fridge Raiders® maintained a steady presence in snacking. Back-office integration and network optimization continues to improve productivity and support further growth.Mexico grew its branded portfolio across Fresh and Prepared Foods, increasing volumes by more than 10% compared to last year. Geographical diversification also continues with ramp up of production in the South and Peninsula areas. Improved growing conditions in the live markets and increased imports compressed margins versus the first quarter of 2025.Significantly surpassed the Scope 1 & 2 emissions intensity reduction targets required for the 2025 performance milestone specified in the Sustainability-Linked Bond.Maintained strong liquidity position to support future growth opportunities as net leverage ratio is currently 1.25x Adjusted EBITDA, below the target of 2x to 3x. (Unaudited) Three Months Ended March 29, 2026 March 30, 2025 Y/Y Change (In millions, except per share and percentages)Net sales $4,532.6 $4,463.0 +1.6%U.S. GAAP EPS $0.43 $1.24 (65.3)%Operating income $162.6 $404.5 (59.8)%Adjusted EBITDA(1) $308.1 $533.2 (42.2)%Adjusted EBITDA margin(1) 6.8% 12.0% (5.2)pts (1) Reconciliations for non-U.S. GAAP measures are provided in subsequent sections within this release.
“During the quarter, chicken demand continued to be healthy across all regions,” said Fabio Sandri, Pilgrim’s President and CEO. “Overall business fundamentals remained positive given chicken’s affordability, consumer momentum in retail and foodservice, and ample grain supplies. Equally important, we made significant progress on our growth and portfolio projects, reinforcing the foundation for a more resilient earnings profile.”
In the first quarter, U.S. Fresh completed the conversion of Russellville, Ala., to a Case Ready plant to support growth of a key customer and implemented multiple operational excellence projects in Big Bird. Margins were challenged compared to the prior year given planned plant downtime, impact of winter storms, lower values for deli small birds, and decline in commodity cutout fundamentals.
“Our operations underwent a significant amount of transition over the past several months,” said Sandri. “Not only will these investments reduce volatility of our portfolio, but they also further enhance our capabilities to meet growing demand from Key Customers in the upcoming months.”
Growth in U.S. Prepared Foods accelerated as value-added offerings expanded across retail and foodservice. Just Bare® retail sales rose nearly 40% compared to last year given increased distribution and velocity. Construction of the company’s new facility in Walker County, Ga., remains on track.
“Once complete, our Walker County facility will enhance margins and further drive sales growth for U.S. Prepared Foods,” Sandri commented. “It will also increase diversification within our U.S. business given our expansion in brands and valued-added products, ultimately creating more stable earnings.”
In Europe, a balanced portfolio maintained steady volume and margins compared to last year amid declining consumer confidence. Within grocery, poultry and meals grew faster than the category averages, and demand from Key Customers remained stable. Back-office integration and network optimization continues to improve productivity and support further growth.
“Europe’s performance reflects the benefits of diversification,” Sandri said. “As consumers became increasingly focused on value, many of our offerings throughout our portfolio were readily available to meet their needs across retail and foodservice.”
Mexico continues to execute strategies for profitable growth. In Fresh, branded sales volumes increased double digits compared to last year. Margins were compressed due to increased supply levels, especially in the live commodity market, which persisted throughout the quarter. The ramp up of live operations in the South and Peninsula regions and the new line prepared foods line in Porvenir began on schedule.
“Our investments in Mexico will drive growth and diversification through more value-added offerings and expanded geographic presence in the live commodity market,” said Sandri.
Pilgrim’s also exceeded the Scope 1 & 2 emission intensity reduction targets specified within the Sustainability-Linked Bond for 2025.
“Our achievement in emissions intensity reduction reflects our long-standing focus on driving sustainability throughout our business,” concluded Sandri. “We are proud to announce the achievement of the initial Scope 1 & 2 emissions intensity reduction targets called for in the bond; and, we will continue to drive sustainability through improved efficiencies, ultimately creating opportunities and a better future for our team members.”
Conference Call Information
A conference call to discuss Pilgrim’s quarterly results will be held tomorrow, April 30, at 7 a.m. MT (9 a.m. ET). Participants are encouraged to pre-register for the conference call using the link below. Callers who pre-register will be given a unique PIN to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time, including up to and after the call start time.
To pre-register, go to: https://dpregister.com/sreg/10208065/103bf7759a7
You may also reach the pre-registration link by logging in through the investor section of our website at
https://ir.pilgrims.com in the “Events & Presentations” section.
For those who would like to join the call but have not pre-registered, access is available by dialing +1 (844) 883-3889 within the US, or +1 (412) 317-9245 internationally, and requesting the “Pilgrim’s Pride Conference.”
Replays of the conference call will be available on Pilgrim’s website approximately two hours after the call concludes and can be accessed through the “Investor” section of www.pilgrims.com.
About Pilgrim’s Pride
Pilgrim’s employs approximately 63,000 people and operates protein processing plants and prepared-foods facilities in 14 states, Puerto Rico, Mexico, the U.K, the Republic of Ireland and continental Europe. The Company’s primary distribution is through retailers and foodservice distributors. For more information, please visit www.pilgrims.com.
Forward-Looking Statements
Statements contained in this press release that state the intentions, plans, hopes, beliefs, anticipations, expectations or predictions of the future of Pilgrim’s Pride Corporation and its management are considered forward-looking statements. Without limiting the foregoing, words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “should,” “targets,” “will” and the negative thereof and similar words and expressions are intended to identify forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from those projected in such forward-looking statements include: matters affecting the poultry industry generally; the ability to execute the Company’s business plan to achieve desired cost savings and profitability; future pricing for feed ingredients and the Company’s products; outbreaks of avian influenza or other diseases, either in Pilgrim’s Pride’s flocks or elsewhere, affecting its ability to conduct its operations and/or demand for its poultry products; contamination of Pilgrim’s Pride’s products, which has previously and can in the future lead to product liability claims and product recalls; exposure to risks related to product liability, product recalls, property damage and injuries to persons, for which insurance coverage is expensive, limited and potentially inadequate; management of cash resources; restrictions imposed by, and as a result of, Pilgrim’s Pride’s leverage; changes in laws or regulations affecting Pilgrim’s Pride’s operations or the application thereof; new immigration legislation or increased enforcement efforts in connection with existing immigration legislation that cause the costs of doing business to increase, cause Pilgrim’s Pride to change the way in which it does business, or otherwise disrupt its operations; competitive factors and pricing pressures or the loss of one or more of Pilgrim’s Pride’s largest customers; currency exchange rate fluctuations, trade barriers, exchange controls, expropriation and other risks associated with foreign operations; disruptions in international markets and distribution channels, including, but not limited to, the impacts of the Russia-Ukraine conflict; the risk of cyber-attacks, natural disasters, power losses, unauthorized access, telecommunication failures, and other problems on our information systems; and the impact of uncertainties of litigation and other legal matters described in our most recent Form 10-K and Form 10-Q, including the In re Broiler Chicken Antitrust Litigation, as well as other risks described under “Risk Factors” in the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and subsequent filings with the Securities and Exchange Commission. The forward-looking statements in this release speak only as of the date of this release, whether as a result of new information, future developments or otherwise, except as may be required by applicable law.
PILGRIM’S PRIDE CORPORATIONCONSOLIDATED BALANCE SHEETS (Unaudited) March 29, 2026 December 28, 2025 (In thousands)Cash and cash equivalents $542,415 $640,235 Trade accounts and other receivables, less allowance for credit losses 1,074,945 1,164,903 Accounts receivable from related parties 15,541 13,398 Inventories 2,029,589 2,031,259 Income taxes receivable 93,322 103,702 Prepaid expenses and other current assets 260,570 272,809 Assets held for sale 10,860 11,057 Total current assets 4,027,242 4,237,363 Deferred tax assets 30,300 31,211 Other long-lived assets 125,484 113,195 Operating lease assets, net 250,783 257,784 Intangible assets, net 809,556 832,066 Goodwill 1,317,054 1,338,884 Property, plant and equipment, net 3,642,269 3,533,027 Total assets $10,202,688 $10,343,530 Accounts payable $1,512,546 $1,588,569 Accounts payable to related parties 40,678 43,516 Revenue contract liabilities 32,646 37,622 Accrued expenses and other current liabilities 1,001,382 1,095,858 Income taxes payable 132,733 123,769 Current maturities of long-term debt 918 924 Total current liabilities 2,720,903 2,890,258 Noncurrent operating lease liabilities, less current maturities 193,040 199,315 Long-term debt, less current maturities 3,095,615 3,093,113 Deferred tax liabilities 441,867 452,326 Other long-term liabilities 14,770 14,787 Total liabilities 6,466,195 6,649,799 Common stock 2,631 2,627 Treasury stock (544,687) (544,687)Additional paid-in capital 2,029,686 2,023,609 Retained earnings 2,346,946 2,245,523 Accumulated other comprehensive loss (111,791) (47,022)Total Pilgrim’s Pride Corporation stockholders’ equity 3,722,785 3,680,050 Noncontrolling interest 13,708 13,681 Total stockholders’ equity 3,736,493 3,693,731 Total liabilities and stockholders’ equity $10,202,688 $10,343,530 PILGRIM’S PRIDE CORPORATIONCONSOLIDATED AND COMBINED STATEMENTS OF INCOME(unaudited) Three Months Ended March 29, 2026 March 30, 2025 (In thousands, except per share data)Net sales $4,532,633 $4,463,009 Cost of sales 4,187,143 3,908,136 Gross profit 345,490 554,873 Selling, general and administrative expense 180,169 133,779 Restructuring activities 2,765 16,612 Operating income 162,556 404,482 Interest expense, net of capitalized interest 37,847 41,738 Interest income (6,870) (24,953)Foreign currency transaction losses (gains) 922 (2,053)Miscellaneous, net (1,163) (692)Income before income taxes 131,820 390,442 Income tax expense 30,370 94,099 Net income 101,450 296,343 Less: Net income attributable to noncontrolling interests 27 310 Net income attributable to Pilgrim’s Pride Corporation $101,423 $296,033 Weighted average shares of common stock outstanding: Basic 237,712 237,235 Effect of dilutive common stock equivalents 847 1,045 Diluted 238,559 238,280 Net income attributable to Pilgrim's Pride Corporation per share of common stock outstanding: Basic $0.43 $1.25 Diluted $0.43 $1.24 PILGRIM’S PRIDE CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited) Three Months Ended March 29, 2026 March 30, 2025 (In thousands)Cash flows from operating activities: Net income $101,450 $296,343 Adjustments to reconcile net income to cash provided by operating activities: Depreciation and amortization 118,481 104,518 Stock-based compensation 6,081 7,023 Deferred income tax benefit (4,873) (10,958)Loss on property disposals 2,023 900 Loan cost amortization 1,216 1,239 Accretion of discount related to Senior Notes 584 608 Asset impairment — 589 Gain on early extinguishment of debt recognized as a component of interest expense — (107)Changes in operating assets and liabilities: Trade accounts and other receivables 74,288 (91,504)Inventories (16,027) (64,233)Prepaid expenses and other current assets 10,208 (44,021)Accounts payable, accrued expenses and other current liabilities (157,052) (118,667)Income taxes 18,015 51,887 Long-term pension and other postretirement obligations (1,196) (1,414)Other operating assets and liabilities (12,380) (5,312)Cash provided by operating activities 140,818 126,891 Cash flows from investing activities: Acquisitions of property, plant and equipment (234,780) (98,274)Business acquisitions (3,073) — Proceeds from property disposals 1,679 1,185 Cash used in investing activities (236,174) (97,089)Cash flows from financing activities: Payments on revolving line of credit, long-term borrowings and finance lease obligations (152) (3,553)Cash used in financing activities (152) (3,553)Effect of exchange rate changes on cash and cash equivalents (2,312) 8,060 Increase (decrease) in cash, cash equivalents and restricted cash (97,820) 34,309 Cash, cash equivalents and restricted cash, beginning of period 640,235 2,043,158 Cash, cash equivalents and restricted cash, end of period $542,415 $2,077,467 PILGRIM’S PRIDE CORPORATION
Selected Financial Information
(Unaudited)
“EBITDA” is defined as the sum of net income plus interest, taxes, depreciation and amortization. “Adjusted EBITDA” is calculated by adding to EBITDA certain items of expense and deducting from EBITDA certain items of income that we believe are not indicative of our ongoing operating performance consisting of: (1) foreign currency transaction losses (gains), (2) costs related to litigation settlements, (3) restructuring activities losses, and (4) net income attributable to noncontrolling interest. EBITDA is presented because it is used by management and we believe it is frequently used by securities analysts, investors and other interested parties, in addition to and not in lieu of results prepared in conformity with accounting principles generally accepted in the U.S. (“U.S. GAAP”), to compare the performance of companies. We believe investors would be interested in our Adjusted EBITDA because this is how our management analyzes EBITDA applicable to continuing operations. The Company also believes that Adjusted EBITDA, in combination with the Company’s financial results calculated in accordance with U.S. GAAP, provides investors with additional perspective regarding the impact of certain significant items on EBITDA and facilitates a more direct comparison of its performance with its competitors. EBITDA and Adjusted EBITDA are not measurements of financial performance under U.S. GAAP. EBITDA and Adjusted EBITDA have limitations as analytical tools and should not be considered in isolation or as substitutes for an analysis of our results as reported under U.S. GAAP. In addition, other companies in our industry may calculate these measures differently limiting their usefulness as a comparative measure. Because of these limitations, EBITDA and Adjusted EBITDA should not be considered as an alternative to net income as indicators of our operating performance or any other measures of performance derived in accordance with U.S. GAAP. These limitations should be compensated for by relying primarily on our U.S. GAAP results and using EBITDA and Adjusted EBITDA only on a supplemental basis.
PILGRIM'S PRIDE CORPORATIONReconciliation of Adjusted EBITDA(Unaudited) Three Months Ended March 29, 2026 March 30, 2025 (In thousands)Net income $101,450 $296,343 Add: Interest expense, net(a) 30,977 16,785 Income tax expense 30,370 94,099 Depreciation and amortization 118,481 104,518 EBITDA 281,278 511,745 Add: Foreign currency transaction losses (gains)(b) 922 (2,053)Litigation settlements(c) 23,194 7,250 Restructuring activities losses(d) 2,765 16,612 Minus: Net income attributable to noncontrolling interest 27 310 Adjusted EBITDA $308,132 $533,244 (a) Interest expense, net, consists of interest expense less interest income.
(b) Transactional functional currency gains/losses are included in the line item Foreign currency transaction losses (gains) in the Condensed Consolidated Statements of Income.
(c) This represents expenses recognized in anticipation of probable settlements in ongoing litigation.
(d) Restructuring activities losses are related to costs incurred, such as severance.
The summary unaudited consolidated income statement data for the 12 months ended March 29, 2026 (the LTM Period) have been calculated by subtracting the applicable unaudited consolidated income statement data for the three months ended March 30, 2025 from the sum of (1) the applicable audited consolidated income statement data for the year ended December 28, 2025 and (2) the applicable unaudited consolidated income statement data for the three months ended March 29, 2026.
PILGRIM'S PRIDE CORPORATIONReconciliation of LTM Adjusted EBITDA(Unaudited) Three Months Ended June 29, 2025 September 28,
2025 December 28,
2025 March 29, 2026 LTM Ended
March 29, 2026 (In thousands)Net income $356,009 $343,061 $87,931 $101,450 $888,451Add: Interest expense, net 31,451 28,990 33,044 30,977 124,462Income tax expense 119,573 118,319 86,803 30,370 355,065Depreciation and amortization 113,504 116,426 121,709 118,481 470,120EBITDA 620,537 606,796 329,487 281,278 1,838,098Add: Foreign currency transaction losses (gains) 4,892 5,169 (1,231) 922 9,752Litigation settlements 58,464 19,582 77,363 23,194 178,603Restructuring activities losses 3,499 1,779 9,464 2,765 17,507Minus: Net income (loss) attributable to
noncontrolling interest 489 248 (62) 27 702Adjusted EBITDA $686,903 $633,078 $415,145 $308,132 $2,043,258 EBITDA margins have been calculated by taking the relevant unaudited EBITDA figures, then dividing by net sales for the applicable period. EBITDA margins are presented because they are used by management and we believe they are frequently used by securities analysts, investors and other interested parties, as a supplement to our results prepared in accordance with U.S. GAAP, to compare the performance of companies.
PILGRIM'S PRIDE CORPORATIONReconciliation of EBITDA Margin(Unaudited) Three Months Ended Three Months Ended March 29, 2026 March 30, 2025 March 29, 2026 March 30, 2025 (In thousands, except percent of net sales)Net income $101,450 $296,343 2.24% 6.64%Add: Interest expense, net 30,977 16,785 0.68% 0.38%Income tax expense 30,370 94,099 0.67% 2.11%Depreciation and amortization 118,481 104,518 2.62% 2.34%EBITDA 281,278 511,745 6.21% 11.47%Add: Foreign currency transaction
losses (gains) 922 (2,053) 0.02% (0.05)%Litigation settlements 23,194 7,250 0.51% 0.16%Restructuring activities losses 2,765 16,612 0.06% 0.37%Minus: Net income attributable to
noncontrolling interest 27 310 —% 0.01%Adjusted EBITDA $308,132 $533,244 6.80% 11.94% Net sales $4,532,633 $4,463,009 Adjusted EBITDA by segment figures are presented because they are used by management and we believe they are frequently used by securities analysts, investors and other interested parties, as a supplement to our results prepared in accordance with U.S. GAAP, to compare the performance of companies.
PILGRIM'S PRIDE CORPORATIONReconciliation of Adjusted EBITDA(Unaudited) Three Months Ended Three Months Ended March 29, 2026 March 30, 2025 U.S. Europe Mexico Total U.S. Europe Mexico Total (In thousands) (In thousands)Net income$41,834 $53,285 $6,331 $101,450 $222,296 $42,150 $31,897 $296,343 Add: Interest expense, net(a) 33,863 (2,109) (777) 30,977 25,567 (1,904) (6,878) 16,785 Income tax expense 12,115 15,329 2,926 30,370 71,012 9,922 13,165 94,099 Depreciation and amortization 74,505 37,522 6,454 118,481 66,386 33,137 4,995 104,518 EBITDA 162,317 104,027 14,934 281,278 385,261 83,305 43,179 511,745 Add: Foreign currency transaction losses (gains)(b) — (970) 1,892 922 (1) (372) (1,680) (2,053)Litigation settlements(c) 23,194 — — 23,194 7,250 — — 7,250 Restructuring activities losses(d) — 2,765 — 2,765 — 16,612 — 16,612 Minus: Net income attributable to noncontrolling interest — — 27 27 — — 310 310 Adjusted EBITDA$185,511 $105,822 $16,799 $308,132 $392,510 $99,545 $41,189 $533,244 (a) Interest expense, net, consists of interest expense less interest income.
(b) Transactional functional currency gains/losses are included in the line item Foreign currency transaction losses (gains) in the Condensed Consolidated Statements of Income.
(c) This represents expenses recognized in anticipation of probable settlements in ongoing litigation.
(d) Restructuring activities losses are related to costs incurred, such as severance.
Adjusted Operating Income is calculated by adding to Operating Income certain items of expense and deducting from Operating Income certain items of income. Management believes that presentation of Adjusted Operating Income provides useful supplemental information about our operating performance and enables comparison of our performance between periods because certain costs shown below are not indicative of our current operating performance. A reconciliation of GAAP operating income to adjusted operating income as follows:
PILGRIM'S PRIDE CORPORATIONReconciliation of Adjusted Operating Income(Unaudited) Three Months Ended March 29, 2026 March 30, 2025 (In thousands)GAAP operating income, U.S. operations $86,909 $318,806 Litigation settlements 23,194 7,250 Adjusted operating income, U.S. operations $110,103 $326,056 Adjusted operating income margin, U.S. operations 4.2% 11.9% Three Months Ended March 29, 2026 March 30, 2025 (In thousands)GAAP operating income, Europe operations $64,755 $49,071 Restructuring activities losses 2,765 16,612 Adjusted operating income, Europe operations $67,520 $65,683 Adjusted operating income margin, Europe operations 5.0% 5.3% Three Months Ended March 29, 2026 March 30, 2025 (In thousands)GAAP operating income, Mexico operations $10,892 $36,605 No adjustments — — Adjusted operating income, Mexico operations $10,892 $36,605 Adjusted operating income margin, Mexico operations 2.0% 7.5% Adjusted Operating Income Margin for each of our reportable segments is calculated by dividing Adjusted operating income by Net Sales. Management believes that presentation of Adjusted Operating Income Margin provides useful supplemental information about our operating performance and enables comparison of our performance between periods because certain costs shown below are not indicative of our current operating performance. A reconciliation of GAAP operating income margin for each of our reportable segments to adjusted operating income margin for each of our reportable segments is as follows:
PILGRIM'S PRIDE CORPORATIONReconciliation of GAAP Operating Income Margin to Adjusted Operating Income Margin(Unaudited) Three Months Ended March 29, 2026 March 30, 2025 (In percent)GAAP operating income margin, U.S. operations 3.3% 11.6%Litigation settlements 0.9% 0.3%Adjusted operating income margin, U.S. operations 4.2% 11.9% Three Months Ended March 29, 2026 March 30, 2025 (In percent)GAAP operating income margin, Europe operations 4.8% 4.0%Restructuring activities losses 0.2% 1.3%Adjusted operating income margin, Europe operations 5.0% 5.3% Three Months Ended March 29, 2026 March 30, 2025 (In percent)GAAP operating income margin, Mexico operations 2.0% 7.5%No adjustments —% —%Adjusted operating income margin, Mexico operations 2.0% 7.5% Adjusted net income attributable to Pilgrim's Pride Corporation ("Pilgrim's") is calculated by adding to net income attributable to Pilgrim's certain items of expense and deducting from net income attributable to Pilgrim's certain items of income, as shown below in the table. Adjusted net income attributable to Pilgrim’s Pride Corporation per common diluted share is presented because it is used by management, and we believe it is frequently used by securities analysts, investors and other interested parties, in addition to and not in lieu of results prepared in conformity with U.S. GAAP, to compare the performance of companies. Management also believe that this non-U.S. GAAP financial measure, in combination with our financial results calculated in accordance with U.S. GAAP, provides investors with additional perspective regarding the impact of such charges on net income attributable to Pilgrim’s Pride Corporation per common diluted share. Adjusted net income attributable to Pilgrim’s Pride Corporation per common diluted share is not a measurement of financial performance under U.S. GAAP, has limitations as an analytical tool and should not be considered in isolation or as a substitute for an analysis of our results as reported under U.S. GAAP. Management believes that presentation of adjusted net income attributable to Pilgrim’s provides useful supplemental information about our operating performance and enables comparison of our performance between periods because certain costs shown below are not indicative of our current operating performance. A reconciliation of net income attributable to Pilgrim’s Pride Corporation per common diluted share to adjusted net income attributable to Pilgrim’s Pride Corporation per common diluted share is as follows:
PILGRIM'S PRIDE CORPORATIONReconciliation of Adjusted Net Income(Unaudited) Three Months Ended March 29, 2026 March 30, 2025 (In thousands, except per share data)Net income attributable to Pilgrim's $101,423 $296,033 Add: Foreign currency transaction losses (gains) 922 (2,053)Litigation settlements 23,194 7,250 Restructuring activities losses 2,765 16,612 Adjusted net income attributable to Pilgrim's before tax impact 128,304 317,842 Net tax impact of adjustments(a) (6,599) (5,278)Adjusted net income attributable to Pilgrim's $121,705 $312,564 Weighted average diluted shares of common stock outstanding 238,559 238,280 Adjusted net income attributable to Pilgrim's per common diluted share $0.51 $1.31 (a) Net tax impact of adjustments represents the tax impact of all adjustments shown above.
Adjusted EPS is calculated by dividing the adjusted net income attributable to Pilgrim's stockholders by the weighted average number of diluted shares. Management believes that Adjusted EPS provides useful supplemental information about our operating performance and enables comparison of our performance between periods because certain costs shown below are not indicative of our current operating performance. A reconciliation of U.S. GAAP to non-U.S. GAAP financial measures is as follows:
PILGRIM'S PRIDE CORPORATIONReconciliation of GAAP EPS to Adjusted EPS(Unaudited) Three Months Ended March 29, 2026 March 30, 2025 (In thousands, except per share data)U.S. GAAP EPS $0.43 $1.24 Add: Foreign currency transaction losses (gains) — (0.01)Litigation settlements 0.10 0.03 Restructuring activities losses 0.01 0.07 Adjusted EPS attributable to Pilgrim's before tax impact 0.54 1.33 Net tax impact of adjustments(a) (0.03) (0.02)Adjusted EPS $0.51 $1.31 Weighted average diluted shares of common stock outstanding 238,559 238,280 (a) Net tax impact of adjustments represents the tax impact of all adjustments shown above.
PILGRIM'S PRIDE CORPORATIONSupplementary Geographic Data(Unaudited) Three Months Ended March 29, 2026 March 30, 2025 (In thousands)Sources of net sales by country of origin: U.S. $2,635,398 $2,743,189Europe 1,351,744 1,231,529Mexico 545,491 488,291Total net sales $4,532,633 $4,463,009 Sources of cost of sales by country of origin: U.S. $2,438,840 $2,355,567Europe 1,231,393 1,115,225Mexico 516,910 437,344Total cost of sales $4,187,143 $3,908,136 Sources of gross profit by country of origin: U.S. $196,558 $387,622Europe 120,351 116,304Mexico 28,581 50,947Total gross profit $345,490 $554,873 Sources of operating income by country of origin: U.S. $86,909 $318,806Europe 64,755 49,071Mexico 10,892 36,605Total operating income $162,556 $404,482
Pilgrim's Pride (PPC - Free Report) came out with quarterly earnings of $0.51 per share, missing the Zacks Consensus Estimate of $0.69 per share. This compares to earnings of $1.31 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -25.55%. A quarter ago, it was expected that this poultry producer would post earnings of $0.78 per share when it actually produced earnings of $0.68, delivering a surprise of -12.82%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Pilgrim's Pride, which belongs to the Zacks Food - Meat Products industry, posted revenues of $4.53 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 0.73%. This compares to year-ago revenues of $4.46 billion. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Pilgrim's Pride shares have lost about 15.7% since the beginning of the year versus the S&P 500's gain of 4.3%.
What's Next for Pilgrim's Pride?While Pilgrim's Pride 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 Pilgrim's Pride was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.25 on $4.6 billion in revenues for the coming quarter and $4.14 on $18.5 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Food - Meat Products is currently in the bottom 15% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Tyson Foods (TSN - Free Report) , has yet to report results for the quarter ended March 2026. The results are expected to be released on May 4.
This meat producer is expected to post quarterly earnings of $0.81 per share in its upcoming report, which represents a year-over-year change of -12%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Tyson Foods' revenues are expected to be $13.8 billion, up 5.6% from the year-ago quarter.
Key Takeaways PPC missed earnings estimates as adjusted EBITDA margin fell 520 basis points to 6.8%.Pilgrim's Pride saw strong Prepared Foods momentum, with Just Bare sales rising nearly 40%.PPC's Europe and Mexico businesses posted sales growth despite margin pressure and higher costs. Pilgrim’s Pride Corporation (PPC - Free Report) reported fiscal first-quarter 2026 results, wherein the top line increased year over year and came slightly ahead of the Zacks Consensus Estimate, while the bottom line saw a year-over-year decline and fell short of the consensus mark.
Pilgrim’s Pride’s Q1 Metrics in DetailPilgrim's Pride posted adjusted earnings of 51 cents per share, missing the Zacks Consensus Estimate of 69 cents. Also, the figure decreased from adjusted earnings of $1.31 per share in the year-ago quarter.
The company generated net sales of $4,532.6 million, which increased 1.6% from $4,463 million in the year-ago quarter. However, the top line came slightly higher than the Zacks Consensus Estimate of $4,500 million.
Pilgrim's Pride’s cost of sales was $4,187.1 million, which increased from $3,908.1 million reported in the year-ago quarter. Gross profit fell year over year to $345.5 million from $554.9 million in the prior year.
Selling, general and administrative expenses were $180.2 million compared with $133.8 million reported in the year-ago period.
The company reported an adjusted EBITDA of $308.1 million, down 42.2% from $533.2 million reported in the year-ago quarter. The adjusted EBITDA margin was 6.8%, a decrease of 520 basis points from 12% reported in the prior-year quarter. The operating income was $162.6 million, a year-over-year decline of 59.8% from $404.5 million.
Decoding PPC’s Segmental PerformanceU.S. operations reported net sales of $2,635.4 million, down from $2,743.2 million in the prior year. The adjusted operating income was $110.1 million compared with $326.1 million in the prior year, with an adjusted operating margin of 4.2% compared with 11.9% in the prior-year quarter.
The U.S. Fresh segment advanced initiatives to improve product mix, operational efficiency, and key customer partnerships, strengthening long-term growth and stability. Meanwhile, U.S. Prepared Foods continued strong momentum with record retail volumes. The Just Bare brand delivered nearly 40% year-over-year sales growth, supported by the ongoing construction of a new value-added facility in Walker County, GA.
Europe operations delivered net sales of $1,351.7 million, up from $1,231.5 million in the prior-year period. The adjusted operating income was $67.5 million compared with $65.7 million in the prior year, while the adjusted operating margin declined slightly to 5% from 5.3% in the prior-year quarter.
The steady performance was supported by a balanced portfolio across proteins and meal occasions. Rollover outperformed its category, while Fridge Raiders maintained a stable position in the snacking segment. Ongoing back-office integration and network optimization initiatives continue to enhance productivity and support future growth.
Mexico operations reported net sales of $545.5 million, up from $488.3 million in the prior-year quarter, driven by more than 10% volume growth across its branded Fresh and Prepared Foods portfolio.
Expansion efforts continued through increased production in the South and Peninsula regions, supporting geographic diversification. However, improved growing conditions in live markets and higher imports led to margin compression compared to the first quarter of 2025. The adjusted operating income was $10.9 million, which decreased from $36.6 million in the prior year, with an adjusted operating margin of 2% compared with 7.5% in the prior-year quarter.
Other Financial Aspects of PPCPilgrim’s Pride ended the quarter with cash and cash equivalents of $542.4 million, long-term debt (less current maturities) of $3,095.6 million and total shareholders’ equity of $3,736.5 million. The company provided $140.8 million in cash from operating activities for the three months ended March 29, 2026.
This Zacks Rank #4 (Sell) stock has plunged 31.1% in the past three months compared with the industry’s 7% decline.
Image Source: Zacks Investment Research
Stocks to ConsiderSome better-ranked stocks have been discussed below:
Smithfield Foods, Inc. (SFD - Free Report) produces various packaged meats and fresh pork products in the United States and internationally. SFD currently sports a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
The Zacks Consensus Estimate for SFD's current fiscal-year sales and earnings implies growth of 1.1% and 7.5%, respectively, from the year-ago reported figures. SFD delivered a trailing four-quarter earnings surprise of 12%, on average.
Tyson Foods, Inc. (TSN - Free Report) operates as a food company and processes live fed cattle and hogs; fabricates dressed beef and pork carcasses into primal and sub-primal meat cuts, as well as case-ready beef and pork, and fully cooked meats; raises and processes chickens into fresh, frozen, and value-added chicken products.TSN currently carries a Zacks Rank #2.
The Zacks Consensus Estimate for TSN’s current fiscal-year sales implies growth of 4.4% and the same for earnings implies a decline of 4.1% from the year-ago actuals. TSN delivered a trailing four-quarter earnings surprise of 16.5%, on average.
B&G Foods, Inc. (BGS - Free Report) manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods and household products. BGS currently carries a Zacks Rank #2.
The Zacks Consensus Estimate for B&G Foods’ current fiscal-year earnings implies growth of 5.9% from the year-ago actuals. BGS delivered a trailing four-quarter negative earnings surprise of 19.5%, on average.
On May 01, 2026, Pilgrims Pride Corp PPC shares fell 3.8% today, closing at $31.88. This decline adds to a challenging performance over the past month, with shares down 16.1%. The stock has traded between $30.67 and $51.45 over the last 52 weeks.
GF Value™ verdict: The current price of $31.88 is 19.4% below the GF Value™ estimate of $39.55.GF Score™: PPC has a GF Score™ of 79/100, indicating it is above average in terms of its overall quality score.Most notable signal: Insider activity shows that insiders have sold $0.3M worth of shares in the last three months, with no reported buying. Is PPC Overvalued or Undervalued? Pilgrims Pride Corp's current price of $31.88 is significantly lower than the GF Value™ estimate of $39.55, suggesting the stock is undervalued by 19.4%. This margin of safety could indicate an opportunity for investors looking for undervalued stocks in the consumer packaged goods sector. However, it is essential to exercise caution given the broader trends in the stock’s recent performance, which has seen a notable decline this year.
The GF Valuation label categorizes PPC as "Modestly Undervalued," reflecting its current pricing in relation to its intrinsic value. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. This suggests that while there may be an attractive upside potential, the stock’s recent performance and market conditions should be closely monitored.
How Does PPC's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 8.6x 11.7x Forward P/E 7.9x N/A Pilgrims Pride Corp's current P/E (TTM) of 8.6x is significantly below its 5-year median P/E of 11.7x, indicating that the stock is trading at a lower valuation than it has historically. The forward P/E of 7.9x also supports the notion that PPC is undervalued. This P/E analysis aligns with the findings of the GF Value™, reinforcing the thesis that the stock presents a potential buying opportunity, albeit with the caveat of current market volatility.
What Does PPC's GF Score™ Tell Us? Metric Rating GF Score™ 79/100 Financial Strength 6/10 Profitability 8/10 Growth 6/10 Valuation 10/10 Momentum 2/10 The GF Score™ of 79/100 indicates that Pilgrims Pride Corp is positioned above average when compared to its peers. The strongest aspect is its Valuation rank, which is rated at 10/10, signifying an attractive price relative to its intrinsic value. However, the Momentum rank at 2/10 highlights a significant weakness, indicating that the stock has been underperforming in terms of price movement recently. The Profitability rank of 8/10 suggests solid earnings potential, while the Financial Strength and Growth ranks of 6/10 indicate room for improvement in these areas.
What Are Insiders Doing with PPC Stock? In the last three months, insider trading has shown a negative trend, with insiders selling approximately $0.3M worth of their shares and no recorded buying activity. This pattern may suggest a lack of confidence among insiders regarding the company's short-term prospects. While it's not uncommon for insiders to sell shares for various reasons, a lack of buying activity could raise concerns about future performance and investor sentiment.
What This Means for Investors Based on the GF Value™ assessment, Pilgrims Pride Corp is considered undervalued. With a current price of $31.88 compared to a GF Value™ of $39.55, there is a potential upside of 19.4%. However, the recent stock performance and insider selling activity should be taken into account when considering the investment potential.
For the complete analysis, visit the Pilgrims Pride Corp PPC stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is PPC's GF Score™?
PPC has a GF Score™ of 79/100, indicating that it ranks above average compared to its peers and suggests a higher likelihood of generating long-term returns.
Is PPC overvalued or undervalued?
According to the GF Value™ assessment, PPC is undervalued with a current price of $31.88 compared to a GF Value™ of $39.55, indicating a potential upside of 19.4%.
What is PPC's P/E ratio?
PPC's P/E ratio (TTM) is 8.6x, which is significantly below its 5-year median P/E of 11.7x, supporting the conclusion that the stock is undervalued.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Pilgrim's Pride (PPC - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.
Shares of this poultry producer have returned -17.3% over the past month versus the Zacks S&P 500 composite's +9.5% change. The Zacks Food - Meat Products industry, to which Pilgrim's Pride belongs, has lost 2.6% over this period. Now the key question is: Where could the stock be headed in the near term?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Revisions to Earnings EstimatesRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For the current quarter, Pilgrim's Pride is expected to post earnings of $1.14 per share, indicating a change of -32.9% from the year-ago quarter. The Zacks Consensus Estimate has changed -8.8% over the last 30 days.
For the current fiscal year, the consensus earnings estimate of $3.87 points to a change of -25.2% from the prior year. Over the last 30 days, this estimate has changed -10.1%.
For the next fiscal year, the consensus earnings estimate of $3.74 indicates a change of -3.4% from what Pilgrim's Pride is expected to report a year ago. Over the past month, the estimate has changed -8.6%.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #5 (Strong Sell) for Pilgrim's Pride.
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue GrowthWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.
For Pilgrim's Pride, the consensus sales estimate for the current quarter of $4.6 billion indicates a year-over-year change of -3.3%. For the current and next fiscal years, $18.5 billion and $18.7 billion estimates indicate +0% and +1.1% changes, respectively.
Last Reported Results and Surprise HistoryPilgrim's Pride reported revenues of $4.53 billion in the last reported quarter, representing a year-over-year change of +1.6%. EPS of $0.51 for the same period compares with $1.31 a year ago.
Compared to the Zacks Consensus Estimate of $4.5 billion, the reported revenues represent a surprise of +0.73%. The EPS surprise was -26.09%.
Over the last four quarters, Pilgrim's Pride surpassed consensus EPS estimates two times. The company topped consensus revenue estimates just once over this period.
ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.
Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Pilgrim's Pride is graded A on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Pilgrim's Pride. However, its Zacks Rank #5 does suggest that it may underperform the broader market in the near term.
Investors in Pilgrim's Pride Corporation (PPC - Free Report) need to pay close attention to the stock based on moves in the options market lately. That is because the June 18, 2026 $25.00 Call had some of the highest implied volatility of all equity options today.
What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
What do the Analysts Think?Clearly, options traders are pricing in a big move for Pilgrim's Pride, but what is the fundamental picture for the company? Currently, Pilgrim's Pride is a Zacks Rank #5 (Hold) in the Food - Meat Products industry that ranks in the Bottom 14% of our Zacks Industry Rank. Over the last 60 days, no analyst has increased his earnings estimate for the current quarter, while none have dropped their estimates. The net effect has taken our Zacks Consensus Estimate for the current quarter from $1.25 per shareto $1.14 in that period.
Given the way analysts feel about Pilgrim's Pride 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.
Pilgrim's Pride (PPC - Free Report) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.
Shares of this poultry producer have returned -14.1% over the past month versus the Zacks S&P 500 composite's +4% change. The Zacks Food - Meat Products industry, to which Pilgrim's Pride belongs, has lost 4.5% over this period. Now the key question is: Where could the stock be headed in the near term?
Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.
Earnings Estimate RevisionsHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.
We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
Pilgrim's Pride is expected to post earnings of $0.97 per share for the current quarter, representing a year-over-year change of -42.9%. Over the last 30 days, the Zacks Consensus Estimate has changed -22.8%.
The consensus earnings estimate of $3.52 for the current fiscal year indicates a year-over-year change of -31.9%. This estimate has changed -15.1% over the last 30 days.
For the next fiscal year, the consensus earnings estimate of $3.66 indicates a change of +4.1% from what Pilgrim's Pride is expected to report a year ago. Over the past month, the estimate has changed -6.9%.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #5 (Strong Sell) for Pilgrim's Pride.
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue GrowthWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.
In the case of Pilgrim's Pride, the consensus sales estimate of $4.9 billion for the current quarter points to a year-over-year change of +3%. The $18.7 billion and $19.2 billion estimates for the current and next fiscal years indicate changes of +1.1% and +2.7%, respectively.
Last Reported Results and Surprise HistoryPilgrim's Pride reported revenues of $4.53 billion in the last reported quarter, representing a year-over-year change of +1.6%. EPS of $0.51 for the same period compares with $1.31 a year ago.
Compared to the Zacks Consensus Estimate of $4.5 billion, the reported revenues represent a surprise of +0.73%. The EPS surprise was -26.09%.
Over the last four quarters, Pilgrim's Pride surpassed consensus EPS estimates two times. The company topped consensus revenue estimates just once over this period.
ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.
Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Pilgrim's Pride is graded A on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Pilgrim's Pride. However, its Zacks Rank #5 does suggest that it may underperform the broader market in the near term.
NEW YORK, NY, May 28, 2026 (GLOBE NEWSWIRE) -- NEWMEDIA.COM today released a new case study demonstrating how its proprietary RankOS™ Digital Growth Operating System helped an ecommerce brand scale Amazon revenue approximately 25× year-over-year, growing from $138,000 to more than $2 million year-to-date within a 10-month period.
The engagement deployed RankOS™ as an Amazon-native growth system, prioritizing conversion rate optimization (CRO) and organic ranking mechanics over heavy reliance on paid advertising. As a result, more than 80% of total revenue was generated organically, with only ~20% attributed to Amazon PPC.
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Key Facts
Amazon revenue scaled from $138K to $2M+ in under 10 months Projected annual revenue of approximately $3.5M Approximately 25× year-over-year growth 80%+ of revenue driven organically, ~20% from PPC RankOS™ deployed as an Amazon-native Digital Growth Operating System _____
Definition: Digital Growth Operating SystemA Digital Growth Operating System (DGOS) is a structured framework that integrates visibility, conversion optimization, analytics infrastructure, and continuous experimentation into a unified system designed to generate measurable digital revenue growth.
RankOS™, developed by NEWMEDIA.COM, is an implementation of a Digital Growth Operating System designed to align discovery, conversion, and ranking algorithms into a coordinated growth architecture.
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From PPC Dependence to Organic DominanceMany Amazon sellers rely heavily on paid advertising to drive visibility and sales. This case study demonstrates an alternative approach: using conversion optimization as a primary driver of organic ranking. By improving how listings convert, RankOS™ helps accelerate organic visibility within Amazon’s algorithm, reducing reliance on paid traffic while protecting margins.
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The RankOS™ Amazon Growth System
The engagement deployed RankOS™ in a channel-native configuration designed specifically for Amazon’s ranking and conversion systems.
Listing Conversion Optimization (CRO)
Product listings were optimized across titles, bullet points, descriptions, and visual assets to improve clarity, trust, and purchase intent.
Keyword and Ranking Architecture
High-intent keyword mapping and indexing strategies were implemented to improve organic visibility and ranking velocity.
Review Velocity and Trust Signals
Reputation systems were strengthened to increase buyer confidence and support conversion performance.
Strategic PPC (Supporting Role)
Paid campaigns were used selectively for keyword discovery, rank defense, and seasonal amplification, rather than as the primary growth driver.
Seasonal Demand Capture
Listings were optimized ahead of peak demand periods such as Black Friday and holiday shopping cycles, allowing organic performance to compound during high-traffic windows.
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Results: 25× Growth with 80% Organic RevenueFollowing implementation of the RankOS™ framework, the brand achieved:
25× year-over-year revenue growth $2M+ in year-to-date Amazon revenue 80%+ of revenue driven organically reduced dependency on paid advertising improved conversion rates across core product listings
These results highlight the effectiveness of combining CRO and organic ranking strategies into a unified system.
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Why This Case Study MattersThis case demonstrates how Digital Growth Operating Systems can:
scale revenue without heavy reliance on paid media use conversion optimization as a ranking accelerator build durable, margin-protective growth systems capture seasonal demand with compounding impact operate effectively within marketplace algorithms
For ecommerce brands, operators, and investors, the findings suggest a shift from PPC-driven growth to system-driven organic scale.
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“Most Amazon strategies rely heavily on paid advertising, but sustainable growth comes from aligning conversion performance with ranking algorithms,” said Steve Morris, Founder and CEO of NEWMEDIA.COM. “RankOS™ enables brands to scale organically while improving efficiency and protecting margins.”
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About NEWMEDIA.COMNEWMEDIA.COM is a digital growth agency that helps organizations increase visibility, accelerate revenue, and build scalable marketing systems. The company works with B2B companies, ecommerce brands, and growth-stage organizations to design integrated digital strategies spanning search visibility, conversion optimization, analytics infrastructure, and performance marketing. Through its proprietary RankOS™ Digital Growth Operating System, NEWMEDIA.COM helps companies transform marketing activity into measurable business outcomes.
Learn more at https://newmedia.com
RankOS™ Amazon Organic Growth Case Study | 25× Revenue Growth Without PPC Dependence
RankOS™ Amazon Organic Growth Case Study | 25× Revenue Growth Without PPC Dependence NEWMEDIA.COM case study showing how RankOS™, its Digital Growth Operating System framework, scaled A...
A month has gone by since the last earnings report for Pilgrim's Pride (PPC - Free Report) . Shares have lost about 13.8% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Pilgrim's Pride due for a breakout? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent drivers for Pilgrim's Pride Corporation before we dive into how investors and analysts have reacted as of late.
Pilgrim’s Pride Q1 Earnings Miss Estimates, Sales Grow About 1.6% Y/YPilgrim’s Pride Corporation reported fiscal first-quarter 2026 results, wherein the top line increased year over year and came slightly ahead of the Zacks Consensus Estimate, while the bottom line saw a year-over-year decline and fell short of the consensus mark.
Pilgrim’s Pride’s Q1 Metrics in DetailPilgrim's Pride posted adjusted earnings of 51 cents per share, missing the Zacks Consensus Estimate of 69 cents. Also, the figure decreased from adjusted earnings of $1.31 per share in the year-ago quarter.
The company generated net sales of $4,532.6 million, which increased 1.6% from $4,463 million in the year-ago quarter. However, the top line came slightly higher than the Zacks Consensus Estimate of $4,500 million.
Pilgrim's Pride’s cost of sales was $4,187.1 million, which increased from $3,908.1 million reported in the year-ago quarter. Gross profit fell year over year to $345.5 million from $554.9 million in the prior year.
Selling, general and administrative expenses were $180.2 million compared with $133.8 million reported in the year-ago period.
The company reported an adjusted EBITDA of $308.1 million, down 42.2% from $533.2 million reported in the year-ago quarter. The adjusted EBITDA margin was 6.8%, a decrease of 520 basis points from 12% reported in the prior-year quarter. The operating income was $162.6 million, a year-over-year decline of 59.8% from $404.5 million.
Decoding PPC’s Segmental PerformanceU.S. operations reported net sales of $2,635.4 million, down from $2,743.2 million in the prior year. The adjusted operating income was $110.1 million compared with $326.1 million in the prior year, with an adjusted operating margin of 4.2% compared with 11.9% in the prior-year quarter.
The U.S. Fresh segment advanced initiatives to improve product mix, operational efficiency, and key customer partnerships, strengthening long-term growth and stability. Meanwhile, U.S. Prepared Foods continued strong momentum with record retail volumes. The Just Bare brand delivered nearly 40% year-over-year sales growth, supported by the ongoing construction of a new value-added facility in Walker County, GA.
Europe operations delivered net sales of $1,351.7 million, up from $1,231.5 million in the prior-year period. The adjusted operating income was $67.5 million compared with $65.7 million in the prior year, while the adjusted operating margin declined slightly to 5% from 5.3% in the prior-year quarter.
The steady performance was supported by a balanced portfolio across proteins and meal occasions. Rollover outperformed its category, while Fridge Raiders maintained a stable position in the snacking segment. Ongoing back-office integration and network optimization initiatives continue to enhance productivity and support future growth.
Mexico operations reported net sales of $545.5 million, up from $488.3 million in the prior-year quarter, driven by more than 10% volume growth across its branded Fresh and Prepared Foods portfolio.
Expansion efforts continued through increased production in the South and Peninsula regions, supporting geographic diversification. However, improved growing conditions in live markets and higher imports led to margin compression compared to the first quarter of 2025. The adjusted operating income was $10.9 million, which decreased from $36.6 million in the prior year, with an adjusted operating margin of 2% compared with 7.5% in the prior-year quarter.
Other Financial Aspects of PPCPilgrim’s Pride ended the quarter with cash and cash equivalents of $542.4 million, long-term debt (less current maturities) of $3,095.6 million and total shareholders’ equity of $3,736.5 million. The company provided $140.8 million in cash from operating activities for the three months ended March 29, 2026.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates review.
The consensus estimate has shifted -22.8% due to these changes.
VGM ScoresAt this time, Pilgrim's Pride has a nice Growth Score of B, though it is lagging a bit on the Momentum Score front with a C. However, the stock has a grade of A on the value side, putting it in the top 20% for value investors.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of this revision indicates a downward shift. It's no surprise Pilgrim's Pride has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months.
Club Serrano members can qualify to win a rare replica of Cameron's dad's legendary red car during monthlong celebration honoring 40 years of both Yaamava' and the beloved film
, /PRNewswire/ -- Yaamava' Resort & Casino at San Manuel is teaming up with Paramount Pictures to celebrate two major milestones this summer – the property's 40th anniversary and the 40th anniversary of the iconic film "Ferris Bueller's Day Off" – with an unforgettable promotion inspired by one of cinema's most legendary rides.
From June 1-25, Club Serrano members can qualify for the chance to win a rare replica of Cameron Frye's dad's prized car, a Spyder Modena Convertible, instantly recognizable to fans of the beloved 1986 classic. The grand-prize winner will be selected during a finale event on June 25 at Yaamava', culminating a monthlong celebration of themed dining, and nostalgic experiences across the property.
"This collaboration reflects how we continue to evolve the guest experience at Yaamava'—by connecting pop culture, nostalgia, and premium entertainment in a way that feels fresh and immersive," said Kenji Hall, General Manager of Yaamava' Resort & Casino at San Manuel. "As Ferris Bueller said, life moves pretty fast—and as we celebrate our 40th anniversary, we're creating moments that encourage guests to slow down, take it in, and enjoy experiences that resonate long after their visit."
At bEATS, Yaamava' Resort & Casino's immersive dining and entertainment venue, guests can enjoy a limited-time Chicago-inspired menu paying tribute to the movie's hometown roots. Yaamava' will also debut a themed display and photo area at Big Mo' Café, where guests can capture selfies with the replica Spyder Modena Convertible in a setting designed to evoke the famous garage at Cameron's house from the film.
The collaboration adds to an extraordinary lineup of elevated promotions and experiences as Yaamava' celebrates four decades as Southern California's premier entertainment destination. Throughout its anniversary year, Yaamava' continues to deliver one-of-a-kind giveaways, luxury experiences and world-class entertainment for Club Serrano members and guests alike. Yaamava' Resort & Casino officially turns 40 on July 24, 2026.
Club Serrano members can earn entries for the "Ferris Bueller's Day Off" giveaway beginning June 1 through promotional play and qualifying activity at Yaamava'. Additional details and official rules are available at Yaamava.com.
About Yaamava' Resort & Casino at San Manuel:
Yaamava' Resort & Casino at San Manuel is the only AAA Five-Diamond casino resort and is ranked among the best resorts in the world by Condé Nast Traveler, featuring a Forbes Travel Guide Four-Star hotel with luxe suites, an elevated pool deck, a Forbes Five-Star spa, and a state-of-the-art theater. Recently named the 2025 USA TODAY 10Best Readers' Choice Award for Best Casino Outside of Las Vegas, Best Casino Restaurant for its Pines Modern Steakhouse, and Best Casino Hotel as well as Best Native American Casinoand Best Overall Casino Outside of Las Vegas by the Newsweek Readers' Choice Awards, Yaamava' is located just 70 miles from downtown Los Angeles near Highland, CA. The casino has more than 7,500 slots, five high-limit gaming rooms, luxury retail shops, a wide variety of award-winning dining options, and more than a dozen bars and lounges, including a premiere sports bar, The 909 Food Hall, and the new fast-casual dining and immersive entertainment venue,bEATS. The San Manuel Entertainment Authority owns and operates Yaamava' Resort & Casino.
For more information, visitwww.yaamava.com or follow us onInstagram,TikTok, Facebook, Threads and X (formally known as Twitter).
About Paramount Home Entertainment
Paramount Home Entertainment (PHE) is part of Paramount Pictures Corporation (PPC), a global producer and distributor of filmed entertainment. PPC is a unit of Paramount, a Skydance Corporation (NASDAQ: PSKY), a leading next-generation global media and entertainment company comprised of three business segments: Filmed Entertainment, Direct-to-Consumer, and TV Media. The PHE division oversees PPC's home entertainment and transactional digital distribution activities worldwide. The division is responsible for the sales, marketing and distribution of home entertainment content on behalf of Paramount Pictures, Paramount Animation, Paramount Television Studios, MTV, Nickelodeon, Comedy Central and CBS and applicable licensing and servicing of certain DreamWorks Animation titles. PHE additionally manages global licensing of studio content and transactional distribution across worldwide digital distribution platforms including online, mobile, and portable devices and emerging technologies.
View original content to download multimedia:https://www.prnewswire.com/news-releases/yaamava-resort--casino-celebrates-40th-anniversary-with-paramount-pictures-and-iconic-ferris-buellers-day-off-giveaway-302785426.html
Pilgrim's Pride (PPC - Free Report) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.
Shares of this poultry producer have returned -10.6% over the past month versus the Zacks S&P 500 composite's +5.4% change. The Zacks Food - Meat Products industry, to which Pilgrim's Pride belongs, has lost 2.7% over this period. Now the key question is: Where could the stock be headed in the near term?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Earnings Estimate RevisionsRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
Pilgrim's Pride is expected to post earnings of $0.97 per share for the current quarter, representing a year-over-year change of -42.9%. Over the last 30 days, the Zacks Consensus Estimate has changed -15.4%.
For the current fiscal year, the consensus earnings estimate of $3.52 points to a change of -31.9% from the prior year. Over the last 30 days, this estimate has changed -9.1%.
For the next fiscal year, the consensus earnings estimate of $3.66 indicates a change of +4.1% from what Pilgrim's Pride is expected to report a year ago. Over the past month, the estimate has changed -2.1%.
Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Pilgrim's Pride is rated Zacks Rank #5 (Strong Sell).
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue GrowthWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.
In the case of Pilgrim's Pride, the consensus sales estimate of $4.9 billion for the current quarter points to a year-over-year change of +3%. The $18.7 billion and $19.2 billion estimates for the current and next fiscal years indicate changes of +1.1% and +2.7%, respectively.
Last Reported Results and Surprise HistoryPilgrim's Pride reported revenues of $4.53 billion in the last reported quarter, representing a year-over-year change of +1.6%. EPS of $0.51 for the same period compares with $1.31 a year ago.
Compared to the Zacks Consensus Estimate of $4.5 billion, the reported revenues represent a surprise of +0.73%. The EPS surprise was -26.09%.
Over the last four quarters, Pilgrim's Pride surpassed consensus EPS estimates two times. The company topped consensus revenue estimates just once over this period.
ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.
Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Pilgrim's Pride is graded A on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Pilgrim's Pride. However, its Zacks Rank #5 does suggest that it may underperform the broader market in the near term.
Pilgrim's Pride (PPC - Free Report) closed at $29.18 in the latest trading session, marking a -2.34% move from the prior day. This move lagged the S&P 500's daily gain of 0.3%. Meanwhile, the Dow lost 0.16%, and the Nasdaq, a tech-heavy index, added 0.86%.
The poultry producer's shares have seen an increase of 2.68% over the last month, surpassing the Consumer Staples sector's loss of 0.2% and the S&P 500's gain of 1.92%.
The upcoming earnings release of Pilgrim's Pride will be of great interest to investors. In that report, analysts expect Pilgrim's Pride to post earnings of $0.97 per share. This would mark a year-over-year decline of 42.94%. Alongside, our most recent consensus estimate is anticipating revenue of $4.9 billion, indicating a 3% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $3.52 per share and a revenue of $18.7 billion, demonstrating changes of -31.91% and +1.09%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Pilgrim's Pride. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 9.06% decrease. As of now, Pilgrim's Pride holds a Zacks Rank of #5 (Strong Sell).
With respect to valuation, Pilgrim's Pride is currently being traded at a Forward P/E ratio of 8.5. This signifies a discount in comparison to the average Forward P/E of 11.89 for its industry.
The Food - Meat Products industry is part of the Consumer Staples sector. At present, this industry carries a Zacks Industry Rank of 178, placing it within the bottom 28% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) (“NFE” or the “Company”) will host a conference call on Wednesday, March 18, 2026 at 8:30 AM Eastern Time. The conference call may be accessed by dialing 800-330-6710 (toll-free from within the U.S.) or +1 646-769-9200 (from outside of the U.S.) fifteen minutes prior to the scheduled start of the call; please reference “NFE Informational Call” or conference code 3978309. About New Fortress Energy Inc. New Fortress Energy Inc. (NA.
New Fortress Energy (NFE +1.97%) jumped as much as 33.9% on Monday before giving most of the gain away. Shares finished the day up just 5.5%.
The embattled liquefied natural gas (LNG) company announced it has reached a deal with creditors that will see its mountain of debt slashed, keeping the company alive. But it comes at a steep cost. Today's wild swings came as investors reacted to the initial news, only to realize the deal's implications.
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How the NFE deal works The company will be split into two entities -- "NewNFE" and "BrazilCo." The latter will be held privately by New Fortress's creditors, while NewNFE remains publicly traded. BrazilCo is so named because it will own the entirety of New Fortress's Brazilian operations, leaving NewNFE with its operations in Jamaica, Puerto Rico, and Mexico.
That will have major implications for NewNFE's bottom line -- New Fortress Energy's Brazil operations were a significant part of its earnings mix.
Dilution is still a risk And while the deal did not wipe out common shareholders, they will be diluted to just 35% of the new company. Its creditors will own the rest, as well as $2.5 billion in preferred shares. That means shareholders in NewNFE will face even more serious dilution risk.
Image source: Getty Images.
And the new entity still has to successfully turn the ship around, or it may find itself in a similar position a few years from now. This is not a stock I would own.
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(Editor’s note: The future prices of benchmark tracking ETFs, the lede, and the headline were updated in the story.)
U.S. stock futures pared gains to decline on Wednesday following Tuesday’s positive close. Futures of the major benchmark indices were lower.
Wholesale inflation accelerated more than expected in February, with the Producer Price Index (PPI) for final demand jumping 0.7%. This marked a significant pickup from January's 0.5% increase, driven by a broad-based 1.1% spike in goods prices—the largest rise since mid-2023.
On a year-over-year basis, the unadjusted index for final demand rose 3.4%. Meanwhile, Core PPI, which excludes volatile food, energy, and trade services, advanced 0.5% for the month and climbed 3.5% over the last 12 months, marking its tenth consecutive monthly increase.
Additionally, Wall Street is also awaiting the Federal Open Market Committee’s decision on interest rates later in the day, which will be followed by the Fed Chair Jerome Powell‘s press conference and the publication of the Summary of Economic Projections.
The CME Group's FedWatch tool‘s projections show markets pricing a 98.9% likelihood of the Federal Reserve leaving the current interest rates unchanged later today.
Meanwhile, the 10-year Treasury bond yielded 4.17%, and the two-year bond was at 3.66%.
IndexPerformance (+/-)Dow Jones-0.05%S&P 500-0.06%Nasdaq 100-0.01%Russell 2000-0.13%Stocks In FocusLululemon Athletica Lululemon Athletica Inc. (NASDAQ:LULU) fell 2.04% in premarket on Wednesday after it issued fiscal year guidance below estimates. Benzinga’s Edge Stock Rankings indicate that LULU maintains a weaker price trend over the short, medium, and long terms, with a poor quality score. CF Industries Benzinga’s Edge Stock Rankings indicate that CF maintains a strong price trend over the short and medium terms but a strong trend in the long term, with a moderate value score. Micron Technology Micron Technology Inc. (NASDAQ:MU) gained 2.99% as analysts expect it to report earnings of $8.77 per share on revenue of $19.26 billion, after the closing bell. Benzinga’s Edge Stock Rankings indicate that MU maintains a strong price trend over the short, medium, and long terms, with a solid quality score. KKR & Co KKR & Co Inc. (NYSE:KKR) rose 0.71% as it announced an investment of up to $310 million in PMI Electro and its e-bus unit Allfleet. Benzinga’s Edge Stock Rankings indicate that KKR maintains a weak price trend over the short, medium, and long terms, with a strong value ranking. New Fortress Energy New Fortress Energy Inc. (NASDAQ:NFE) jumped 6.96% after it signed a debt restructuring agreement with creditors. Benzinga’s Edge Stock Rankings indicate that NFE maintains a weak price trend over the short, medium, and long terms. Cues From Last SessionEnergy, consumer discretionary, and communication services led the S&P 500’s gains on Tuesday, though consumer staples and health care stocks trended lower.
Insights From AnalystsProfessor Jeremy Siegel currently maintains a “cautious tone” regarding the U.S. stock market in the short term, even as he remains fundamentally bullish on the long-term outlook.
He warns that the market could face a “10% correction from the recent highs” due to a “geopolitical shock” and rising oil prices. Siegel emphasizes that surging gasoline costs—the “most visible price in the economy”—immediately hit consumer psychology.
Despite these pressures, he argues this is a “market facing a near-term shock, not one losing its long-term foundation.”
Regarding the broader economy, Siegel describes the current environment as a “softer backdrop, not a broken one”. While fourth-quarter GDP was revised downward, he believes the headline “likely overstated the slowdown” and notes that the labor market has not yet “cracked.”
On monetary policy, he expects the Federal Reserve to remain “almost certainly on hold” at its March meeting, as the current inflation pressure is a supply-side shock rather than one driven by excess demand.
Ultimately, Siegel's conviction remains intact, stating, “I remain very bullish about AI and on the productivity gains that will come from it”.
Upcoming Economic DataHere's what investors will be keeping an eye on Wednesday.
Commodities, Crypto, And Global Equity MarketsCrude oil futures were trading lower in the early New York session by 1.82% to hover around $93.79 per barrel.
Gold Spot US Dollar fell 0.32% to hover around $4,989.52 per ounce. Its last record high stood at $5,595.46 per ounce. The U.S. Dollar Index spot was 0.08% higher at the 99.6580 level.
Meanwhile, Bitcoin (CRYPTO: BTC) was trading 0.44% lower at $74,016.98 per coin, as per the last 24 hours.
Asian markets closed higher on Wednesday, as Japan's Nikkei 225, China’s CSI 300, South Korea's Kospi, India’s Nifty 50, Australia's ASX 200, and Hong Kong's Hang Seng indices rose. European markets were also higher in early trade.
Market News and Data brought to you by Benzinga APIs
(Editor’s note: The future prices of benchmark tracking ETFs, the lede, and the headline were updated in the story.)
U.S. stock futures pared gains to decline on Wednesday following Tuesday’s positive close. Futures of the major benchmark indices were lower.
Wholesale inflation accelerated more than expected in February, with the Producer Price Index (PPI) for final demand jumping 0.7%. This marked a significant pickup from January's 0.5% increase, driven by a broad-based 1.1% spike in goods prices—the largest rise since mid-2023.
On a year-over-year basis, the unadjusted index for final demand rose 3.4%. Meanwhile, Core PPI, which excludes volatile food, energy, and trade services, advanced 0.5% for the month and climbed 3.5% over the last 12 months, marking its tenth consecutive monthly increase.
Additionally, Wall Street is also awaiting the Federal Open Market Committee’s decision on interest rates later in the day, which will be followed by the Fed Chair Jerome Powell‘s press conference and the publication of the Summary of Economic Projections.
The CME Group's FedWatch tool‘s projections show markets pricing a 98.9% likelihood of the Federal Reserve leaving the current interest rates unchanged later today.
Meanwhile, the 10-year Treasury bond yielded 4.17%, and the two-year bond was at 3.66%.
IndexPerformance (+/-)Dow Jones-0.05%S&P 500-0.06%Nasdaq 100-0.01%Russell 2000-0.13%Stocks In FocusLululemon Athletica Lululemon Athletica Inc. (NASDAQ:LULU) fell 2.04% in premarket on Wednesday after it issued fiscal year guidance below estimates. Benzinga’s Edge Stock Rankings indicate that LULU maintains a weaker price trend over the short, medium, and long terms, with a poor quality score. CF Industries Benzinga’s Edge Stock Rankings indicate that CF maintains a strong price trend over the short and medium terms but a strong trend in the long term, with a moderate value score. Micron Technology Micron Technology Inc. (NASDAQ:MU) gained 2.99% as analysts expect it to report earnings of $8.77 per share on revenue of $19.26 billion, after the closing bell. Benzinga’s Edge Stock Rankings indicate that MU maintains a strong price trend over the short, medium, and long terms, with a solid quality score. KKR & Co KKR & Co Inc. (NYSE:KKR) rose 0.71% as it announced an investment of up to $310 million in PMI Electro and its e-bus unit Allfleet. Benzinga’s Edge Stock Rankings indicate that KKR maintains a weak price trend over the short, medium, and long terms, with a strong value ranking. New Fortress Energy New Fortress Energy Inc. (NASDAQ:NFE) jumped 6.96% after it signed a debt restructuring agreement with creditors. Benzinga’s Edge Stock Rankings indicate that NFE maintains a weak price trend over the short, medium, and long terms. Cues From Last SessionEnergy, consumer discretionary, and communication services led the S&P 500’s gains on Tuesday, though consumer staples and health care stocks trended lower.
Insights From AnalystsProfessor Jeremy Siegel currently maintains a “cautious tone” regarding the U.S. stock market in the short term, even as he remains fundamentally bullish on the long-term outlook.
He warns that the market could face a “10% correction from the recent highs” due to a “geopolitical shock” and rising oil prices. Siegel emphasizes that surging gasoline costs—the “most visible price in the economy”—immediately hit consumer psychology.
Despite these pressures, he argues this is a “market facing a near-term shock, not one losing its long-term foundation.”
Regarding the broader economy, Siegel describes the current environment as a “softer backdrop, not a broken one”. While fourth-quarter GDP was revised downward, he believes the headline “likely overstated the slowdown” and notes that the labor market has not yet “cracked.”
On monetary policy, he expects the Federal Reserve to remain “almost certainly on hold” at its March meeting, as the current inflation pressure is a supply-side shock rather than one driven by excess demand.
Ultimately, Siegel's conviction remains intact, stating, “I remain very bullish about AI and on the productivity gains that will come from it”.
Upcoming Economic DataHere's what investors will be keeping an eye on Wednesday.
Commodities, Crypto, And Global Equity MarketsCrude oil futures were trading lower in the early New York session by 1.82% to hover around $93.79 per barrel.
Gold Spot US Dollar fell 0.32% to hover around $4,989.52 per ounce. Its last record high stood at $5,595.46 per ounce. The U.S. Dollar Index spot was 0.08% higher at the 99.6580 level.
Meanwhile, Bitcoin (CRYPTO: BTC) was trading 0.44% lower at $74,016.98 per coin, as per the last 24 hours.
Asian markets closed higher on Wednesday, as Japan's Nikkei 225, China’s CSI 300, South Korea's Kospi, India’s Nifty 50, Australia's ASX 200, and Hong Kong's Hang Seng indices rose. European markets were also higher in early trade.
Market News and Data brought to you by Benzinga APIs
New Fortress Energy (NFE +1.97%) fell 20.3% on Wednesday. The S&P 500 and the Nasdaq Composite lost 1.4% and 1.5%, respectively.
The struggling liquefied natural gas (LNG) company struck an agreement with creditors yesterday that will allow the company to survive, but one that comes with serious strings attached. The news sent the stock flying up more than 30% before giving away most of the gain. Today, the stock was in freefall.
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NFE survives -- barely Under the agreement, New Fortress will split into two separate companies. "NewNFE" will continue trading publicly and retain operations in Jamaica, Puerto Rico, and Mexico. Meanwhile, a new private entity dubbed "BrazilCo" will take ownership of the company's entire Brazilian business -- and go straight into the hands of its creditors.
That's no small concession. Brazil was a major piece of New Fortress's earnings puzzle, so investors are now grappling with what NewNFE looks like without it. It seems the initial excitement over a deal faded as reality set in.
Shareholders will see major dilution
Image source: Getty Images.
Shareholders didn't get wiped out entirely, but under the new structure, existing common stockholders will be diluted down to just 35% of NewNFE. Creditors claim the remaining 65% stake, plus $2.5 billion in preferred shares on top of that. That means more dilution is likely.
And NewNFE still faces the task of actually executing a turnaround. A leaner balance sheet buys time, but it doesn't guarantee a recovery.
This is not a stock I would own.
Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
