Track market-moving stories before they get noisy

The company said it continues to capitalize on surging demand from AI and data-center customers, as supply constraints push clients to place longer-term orders.

4.97K Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in GEV over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

WASHINGTON--(BUSINESS WIRE)---- $HPE #GenesisMission--HPE (NYSE: HPE) today announced it has been selected to participate in multiple key research and development (R&D) projects in the first phase of the U.S. Department of Energy's Genesis Mission. The awarded projects focus on advancing AI innovation and scientific discovery across AI model application, performance optimization, networking, cybersecurity, and water availability. In addition to contributing to critical R&D, HPE is delivering some of the world's.

ST. LOUIS--(BUSINESS WIRE)--World Wide Technology (WWT), a global technology solutions provider, today announced it has earned two significant recognitions from Cisco, including being named a Cisco Global Partner and unlocking the Cisco Secure Networking Specialization in the United States. WWT is one of only six partners worldwide to become a Cisco Global Partner and is among the first in the US to achieve the Secure Networking Specialization, underscoring the company's continued investment in.

KEY TAKEAWAYS:

Unlimited Plus Premium includes unlimited premium high-speed data, 50 GB high-speed mobile hotspot data, and video streaming up to 4K UHD for maximum connectivity and entertainment. Customers receive built-in savings with up to $10/month phone financing credit (up to $360 value towards a new phone) and an included smartwatch data plan (up to $10 monthly value), plus Anytime Upgrade. Enhanced global connectivity is included, with free international roaming for calls and texts, and 20 GB per month of high-speed data in over 215 countries and destinations. , /PRNewswire/ -- Ready for wireless that does more? The new Unlimited Plus Premium plan from Spectrum Mobile brings residential customers a powerful mix of premium features and built-in savings. The new top-tier plan delivers the most comprehensive suite of benefits across Spectrum Mobile, designed for those who want the best in wireless connectivity and value.

Spectrum Mobile Unlimited Plus Premium with Built-In Savings and Exclusive Features (Source: Spectrum) "Unlimited Plus Premium is our most flexible and feature-rich plan yet," said Danny Bowman, Executive Vice President, Product. "It delivers premium connectivity, savings and exclusive benefits, meeting the needs of customers who expect even more from their mobile experience."

The new plan offers several exclusive features:

50 GB of high-speed mobile hotspot data - five times more than Unlimited Plus. Ideal for streaming, gaming, remote work, travel and multi-device households. Video streaming up to 4K UHD on cellular, letting customers enjoy their favorite content in full 4K detail when away from WiFi. Built-in savings with up to $10 per month credit for financed Spectrum Mobile phones (up to a $360 value). Included smartwatch service for one eligible paired smartwatch, a $10 monthly value. Enhanced global connectivity with free international roaming with calls and texts, and 20 GB of high-speed data per month in more than 215 countries and destinations, including Canada and Mexico. Unlimited Plus Premium also includes all the benefits of Spectrum Mobile's current plans: unlimited high-speed data, unlimited talk, text and WiFi calling, straightforward pricing, coast-to-coast 5G coverage, and access to Speed Boost when connected to the Spectrum Mobile Network's approximately 45 million secure WiFi access points nationwide. As with Unlimited Plus, customers who signed up for Unlimited Plus Premium also have access to Anytime Upgrade, allowing them to upgrade their phone without traditional wait times.

Unlimited Plus Premium is available to residential customers for $50 per month per line (multi-line) or $60 per month (single-line) with no contracts, added taxes or hidden fees.

More information about Spectrum Mobile Unlimited Plus Premium is available at www.spectrum.com/mobile.

About Spectrum
Spectrum is a suite of advanced communications services offered by Charter Communications, Inc. (NASDAQ: CHTR), a leading broadband connectivity company available to nearly 59 million homes and small to large businesses across 41 states. Founded in 1993, Charter has evolved from providing cable TV to streaming, and from high-speed Internet to a converged broadband, WiFi and mobile experience. Over the Spectrum Fiber Broadband Network and supported by our 100% U.S.-based employees, the Company offers Seamless Connectivity and Entertainment with Spectrum Internet®, Mobile, TV and Voice products. 

More information can be found at corporate.charter.com. 

SOURCE Charter Communications, Inc.

Oracle (ORCL -0.95%) is spending massive sums to build its AI infrastructure.

*Stock prices used were the afternoon prices of July 19, 2026. The video was published on July 21, 2026.

Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Oracle. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.

A White House official accused China's Moonshot of improperly using US AI models and Nvidia chips to create the Kimi K3. Here's what it means for tech and plans for a Trump-Xi summit.

Subscription Revenue: $3.877 billion, 23% year-over-year growth in constant currency.Operating Margin: 29.5%, 300 basis points above guidance.Free Cash Flow Ma

ServiceNow, the U.S. enterprise software company known for automating workflows like IT service management and HR operations, is betting on an Indian banking software specialist to deepen its push into global financial services.

The company has invested $40 million in BusinessNext, valuing the 24-year-old Indian firm at $700 million and taking a roughly 5% stake. The deal gives BusinessNext access to ServiceNow’s global sales network as the companies expand their partnership in AI for financial services.

ServiceNow’s investment reflects BusinessNext’s growing profile beyond India. The profitable, Noida-based company, which generated about $32 million in revenue in its latest financial year, serves more than 70 banks across India, Southeast Asia, the Middle East, and the U.S. Its customers include the Reserve Bank of India, the country’s central bank, and State Bank of India and HDFC Bank, which are India’s largest public- and private-sector lenders, respectively.

About half of BusinessNext’s revenue comes from outside India, with overseas markets expected to drive much of its future growth, founder and CEO Nishant Singh said in an interview.

The company chose ServiceNow over potential financial investors to accelerate its expansion by tapping the U.S. software group’s global reach. Singh told TechCrunch that the partnership would help BusinessNext “borrow” its go-to-marker “machinery” — referring to ServiceNow’s sales infrastructure — in markets where it has a limited presence.

“Think of it as a strategic partnership, which is cemented with funding,” he said.

BusinessNext’s software, Singh said, manages customer-facing banking workflows, while ServiceNow is stronger in workflow automation and back-office systems, a combination the two companies plan to sell jointly to financial institutions.

“India’s financial services sector is at an inflection point — institutions are moving from digital experimentation to full-scale AI-led operations,” Kulmeet Bawa, ServiceNow’s group vice president and managing director for India and SAARC, said. He added that the partnership combines ServiceNow’s enterprise workflow platform with BusinessNext’s banking expertise.

Founded in 2002, BusinessNext — known as CRMNext until 2022 — has spent several years building what Singh calls an “autonomous banking” platform, using AI agents to automate banking workflows while keeping sensitive customer data on private AI infrastructure to meet regulatory and privacy requirements.

Singh told TechCrunch that AI was built into the company’s platform from the outset rather than added later. “We actually renamed our company and we kind of rewrote our stack to put that fundamentally at the core,” he said.

BusinessNext employs more than 1,300 people across its operations and was last valued at $181 million in 2021, per private market intelligence platform Tracxn. It has raised more than $60 million in external funding and counts Avataar Ventures, Norwest Venture Partners, and Ascent Capital among its existing investors.

The deal comes as established enterprise software vendors face pressure from customers who are questioning whether traditional SaaS tools are worth paying for when AI-native alternatives are emerging. For ServiceNow, the deal builds out its position in banking by partnering with a company focused on AI-driven banking software, as it expands its enterprise software portfolio through acquisitions, investments, and partnerships.

When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.

Jagmeet covers startups, tech policy-related updates, and all other major tech-centric developments from India for TechCrunch. He previously worked as a principal correspondent at NDTV.

You can contact or verify outreach from Jagmeet by emailing [email protected].

Second-Quarter Organic Growth: 3.9% or $38 million, excluding Sprint cancellations and DISH terminations.Adjusted Funds From Operations (AFFO): Benefited from

WILSONVILLE, Ore.--(BUSINESS WIRE)--ESS and Juniper Energy Sign Agreement for 500 MWh+ of Sodium-Ion Energy Storage Deployments.

CSX Corporation (CSX) Q2 2026 Earnings Call July 22, 2026 4:30 PM EDT

Company Participants

Matthew Korn - Head of Investor Relations
Stephen Angel - CEO, President & Director
Michael Cory - Executive VP & COO
Kevin Boone - Executive VP & CFO
Maryclare Kenney - Senior VP & Chief Commercial Officer

Conference Call Participants

Stephanie Benjamin Moore - Jefferies LLC, Research Division
Christian Wetherbee - Wells Fargo Securities, LLC, Research Division
Scott Group - Wolfe Research, LLC
Brian Ossenbeck - JPMorgan Chase & Co, Research Division
Ken Hoexter - BofA Securities, Research Division
Jonathan Chappell - Evercore ISI Institutional Equities, Research Division
Thomas Wadewitz - UBS Investment Bank, Research Division
Brandon Oglenski - Barclays Bank PLC, Research Division
Walter Spracklin - RBC Capital Markets, Research Division
Ariel Rosa - Citigroup Inc., Research Division
Richa Talwar - Deutsche Bank AG, Research Division
Jason Seidl - TD Cowen, Research Division
Harrison Bauer - Susquehanna Financial Group, LLLP, Research Division
David Vernon - Bernstein Institutional Services LLC, Research Division
Bascome Majors - Susquehanna Financial Group, LLLP, Research Division

Presentation

Operator

Good afternoon, and welcome, everyone, to the CSX Corporation Second Quarter 2026 Earnings Conference Call. Today's conference is being recorded. [Operator Instructions]

At this time, I would like to turn the conference over to Matthew Korn, Head of Investor Relations and Corporate Communications. Please go ahead.

Matthew Korn
Head of Investor Relations

Thank you, Audra. Good afternoon, everyone. We are very pleased to have you join our second quarter 2026 earnings call. Joining me from the CSX leadership team are Steve Angel, President and Chief Executive Officer; Mike Cory, EVP and Chief Operating Officer; Kevin Boone, EVP and Chief Financial Officer, and Maryclare Kenney, Senior Vice President and Chief Commercial Officer.

In the presentation that accompanies this call, which is available on our website, you will find slides with our forward-looking and our non-GAAP disclosures. We encourage you to review them.

Evropské futures kontrakty indikují otevření trhu v záporu

ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), one of the world's leading providers of financial market technology and data powering global capital markets, today announced that MultiLynq LLC, a financial technology solutions supplier for electronic fixed income trading, has become the first provider to offer connectivity to their customers to the ICE Bonds Risk Matching Auction (RMA) protocol. The RMA protocol, which is part of the ICE Bonds' suite of trading.

Americká automobilka Tesla ve druhém čtvrtletí zvýšila tržby meziročně o 26 procent na 28,24 miliardy dolarů (zhruba 600 miliard Kč). Čistý zisk však klesl o pět procent na 1,11 miliardy dolarů a provozní zisk se propadl o 57 procent na 398 milionů dolarů. Provozní marže se snížila na 1,4 procenta z loňských 4,1 procenta. Vyplývá to z výsledků, které firma zveřejnila v noci na dnešek. Společnost patří nejbohatšímu člověku světa Elonu Muskovi, který je zároveň jejím generálním ředitelem.

Tržby z prodeje automobilů vzrostly o 23 procent na 20,52 miliardy dolarů, zatímco příjmy v oblasti energetiky a ukládání energie se zvýšily o 13 procent na 3,14 miliardy dolarů. Tržby divize služeb a dalších aktivit stouply o polovinu na 4,58 miliardy dolarů. Firma ve čtvrtletí vykázala rekordních 480.126 dodaných vozů, což představuje meziroční nárůst o čtvrtinu. Výrazně vzrostly také dodávky bateriového ukládání energie.

Tesla dále uvedla, že zahájila výrobu autonomního vozu Cybercab v texaské Gigafactory a pokračuje v rozšiřování služby Robotaxi v několika amerických městech. Současně investuje do rozšiřování výrobních kapacit baterií, výpočetní infrastruktury pro umělou inteligenci (AI) a výroby polovodičů. Firma rovněž oznámila, že za posledních 12 měsíců poprvé překročila hranici 100 miliard dolarů v tržbách.

Tesla je největším světovým výrobcem elektromobilů podle tržní hodnoty a kromě osobních vozů rozvíjí také podnikání v oblasti bateriových úložišť, autonomního řízení, robotických technologií a umělé inteligence. V posledních letech firma výrazně investuje do nových výrobních kapacit a infrastruktury s cílem podpořit další růst v automobilovém i energetickém byznysu.

Musk se v posledních letech výrazně angažoval v politice. V lednu 2025 se zapojil do předvolební kampaně v Německu, aby podpořil stranu Alternativa pro Německo (AfD), označovanou za krajně pravicovou. Podporoval také amerického prezidenta Donalda Trumpa ve volební kampani a po Trumpově vítězství několik měsíců vedl skupinu pro zefektivnění státní správy (DOGE). Vztahy mezi Trumpem a Muskem se však postupem času zhoršily.

IRVING, Texas--(BUSINESS WIRE)--The Board of Directors of McKesson Corporation (NYSE:MCK) yesterday declared a regular dividend of $0.94 per share of common stock, a 15% increase from $0.82 per share in the prior quarter. The dividend will be payable on October 1, 2026, to shareholders of record on September 1, 2026. “Today's announcement marks our tenth consecutive year of dividend growth, reflecting the strength of our business, our disciplined approach to capital allocation and our commitmen.

Largest Bank in Chattanooga Selects Native Chattanoogan as Bank Marks 50 Years in Chattanooga

, /PRNewswire/ -- First Horizon Bank (NYSE: FHN) (or "First Horizon") announced that veteran banker Lebron Womack will serve as Chattanooga Market President. Womack has more than 15 years of experience with First Horizon Bank and more than 30 years in the banking industry. 

Lebron Womack, Chattanooga Market President for First Horizon Bank Throughout his tenure with First Horizon, Womack has held leadership and commercial banking roles serving businesses across Chattanooga and East Tennessee. Most recently, he served as Senior Vice President and Commercial Relationship Manager, partnering with middle-market and corporate clients on growth initiatives, acquisitions, capital investments, and strategic financing solutions. 

As First Horizon Bank marks its 50th year in the Chattanooga market, Womack will focus on strengthening client relationships, supporting associates, expanding First Horizon's presence in the community, and driving growth across the Chattanooga market. He will continue to lead with a client-first approach and build teamwork to deliver strategic solutions that lead to client success.

"Lebron is an ideal leader to serve as Chattanooga Market President," said Richard Shaffer, East Regional President for First Horizon Bank. "He knows the importance of turning understanding into action by providing tailored solutions to help clients and communities reach their full potential. He will make an outstanding president for this key market in First Horizon's footprint."

"I am honored to lead our amazing team of bankers and financial professionals in Chattanooga – they are the reason First Horizon continues to be the leading bank in this market. Our dedication to 'Here for Good' efforts are more than a principle, community involvement is in our DNA. Together, we're going to continue to make a difference in the lives of our clients and in the greater Chattanooga community that has been so good to us."

A native Chattanoogan, and proud graduate of the University of Tennessee at Chattanooga, Womack is actively involved in the community and currently serves on the board of the Tennessee River Gorge Trust. 

About First Horizon
First Horizon Corp. (NYSE: FHN), with $84.4 billion in assets as of June 30, 2026, is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states concentrated in the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services. First Horizon has been recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.

SOURCE First Horizon Bank

Wednesday, 22 July 2026 10:25 PM

Topic: 

Earnings SANTA BARBARA, CA / ACCESS Newswire / July 22, 2026 / American Riviera Bancorp ("Company") (OTCQX:ARBV), holding company of American Riviera Bank ("Bank"), announced today unaudited net income of $7.3 million ($1.26 per share) for the six months ended June 30, 2026, an increase of 46.2% compared to $5.0 million ($0.86 per share) earned in the same reporting period in the previous year.

Unaudited net income was $3.3 million ($0.57 per share) for the three months ended June 30, 2026, compared to $4.0 million ($0.69 per share) in the previous quarter, and $2.6 million ($0.46 per share) earned in the same reporting period in the previous year. Net income pre-tax, pre-provision (non-GAAP) continued to increase, reaching $5.4 million for the three months ended June 30, 2026, compared to $5.2 million in the previous quarter, and $4.0 million in the same reporting period in the previous year.

Total deposits were $1.23 billion at June 30, 2026, an increase of $95.5 million or 8.4% from June 30, 2025. Total loans were $1.15 billion at June 30, 2026, an increase of $133.4 million or 13.1% from June 30, 2025. Total loans grew $72.0 million or 6.7% in the first half of 2026. Significant loan growth of $54.2 million in the most recent quarter necessitated a $1.0 million loan loss provision to maintain an appropriate allowance to total loans of 1.19% at June 30, 2026.

Jeff DeVine, President and CEO of the Company and the Bank stated, "American Riviera Bank recently celebrated our twenty-year business anniversary. Our vibrant Central Coast economy has made it possible for the Bank to significantly grow loans and substantially improve profitability over the prior year to date. We have our loyal clients, knowledgeable bankers and community to thank for this longevity and success."

Financial Highlights

Unaudited net income and earnings per share have improved 46.2% and 46.5%, respectively, from the first six months of 2025.

Return on average assets was 1.05%, return on average equity was 11.09% and efficiency ratio was 63.35% for the first six months of 2026.

Total shareholders' equity was $134.8 million at June 30, 2026, an increase of $17.2 million or 14.6% from the same reporting period in the previous year.

Tangible book value per share was $22.56 at June 30, 2026, an increase of $3.16 or 16.3% from the same reporting period in the previous year.

The Company's tangible common equity ratio was 9.04% at June 30, 2026, compared to 8.70% at June 30, 2025. Strong earnings and improvement in the market value of the securities portfolio were partially offset by cumulative share repurchases since June 30, 2025 totaling $2.0 million and the impact of 11.0% asset growth over the previous year.

Non-interest-bearing demand deposits were $479.3 million or 39.1% of total deposits at June 30, 2026, and have increased $31.7 million or 7.1% since June 30, 2025.

Total demand deposits were $638.1 million or 52.0% of total deposits at June 30, 2026, and have increased $56.0 million or 9.6% since June 30, 2025.

As a result of the Bank's core funding and relationship-based deposits, the cost of deposits and total cost of funds were 1.24% and 1.36%, respectively, for the second quarter of 2026. Total cost of funds has improved by 14 basis points from the 1.50% reported for the same quarter in the previous year.

Net interest margin ("NIM") increased to 4.01% for the second quarter of 2026, compared to 3.97% in the prior quarter, and has improved 36 basis points from the 3.65% reported for the same quarter in the previous year. NIM has improved as a result of steady loan yield improvement and continued low cost of funds.

On-balance sheet liquidity continues to be substantial with $192.1 million of cash, due from banks, and available-for-sale ("AFS") securities at market value as of June 30, 2026.

At June 30, 2026, the Bank's commercial real estate ("CRE") portfolio was diverse, with weighted average loan-to-values of 28% to 52% and weighted average debt coverage ratios between 1.85x and 3.10x depending on the individual CRE category as of the most recent CRE stress test in January 2026.

The Bank maintained strong credit quality with no other real estate owned, no loans 90 days or more past due and still accruing, and $7.9 million or 0.69% of total loans on non-accrual status, which are well supported by collateral, borrower assets, SBA guarantees, or specific reserves.

Second Quarter 2026 Earnings

For the second quarter of 2026, unaudited net income was $3.3 million, compared to $4.0 million reported in the first quarter of 2026, and $2.6 million reported in the second quarter of 2025. The decline in unaudited net income for the second quarter of 2026 was primarily due to an additional $1.0 million provision for credit losses due to significant loan growth in the quarter.

Unaudited net income pre-tax, pre-provision (non-GAAP) has increased sequentially over the last five quarters and was $5.4 million in the second quarter of 2026, a $0.2 million or 4.1% increase from the first quarter of 2026, and a $1.4 million or 34.4% increase from the $4.0 million reported in the second quarter of 2025.

The Bank has grown interest and fees on loans sequentially over the last five quarters from $14.2 million in the second quarter of 2025 to $16.3 million in the second quarter of 2026, representing a $2.1 million or 15.4% increase.

Total interest expense has remained stable at $4.3 million in the second quarter of 2026 and the second quarter of 2025, even though deposits have grown $95.5 million or 8.4% since the second quarter of 2025. Total interest expense has increased from the prior quarter due to increased borrowings to support loan growth.

Net interest income before provision in the second quarter of 2026 increased $2.2 million or 19.1% compared to the second quarter of 2025.

Non-Interest Income and Expense

Total non-interest income was $1.1 million for the second quarter of 2026, a decrease of $0.1 million from the prior quarter, and an increase of $0.2 million from the second quarter of the previous year. Variances between the quarters can be attributed to Federal Home Loan Bank ("FHLB") dividends, SBA loan sale premiums, mortgage broker fees, loan interest rate swap fees, loan prepayment fees and gains or losses on sale of securities.

Total non-interest expense was $9.2 million for the second quarter of 2026, an increase from $9.1 million from the prior quarter, and an increase from the $8.3 million reported for the same quarter in the previous year. Variances between the quarters can be attributed to changes in staffing, bonus accrual adjustments, operating losses and recoveries, and the timing of expenses related to advertising and events. The Company has significantly improved operating leverage with total non-interest expense up only $1.7 million or 10.1% for the first six months of 2026 versus the first six months of 2025, while net interest income before provision increased $4.1 million, or 18.3% for the comparison period.

Loans and Asset Quality
Total loans were $1.15 billion at June 30, 2026, an increase of $54.2 million or 4.9% from the prior quarter-end, and an increase of $133.4 million or 13.1% from June 30, 2025. The Bank's Allowance for Credit Losses ("ACL") was $13.7 million at June 30, 2026, with a resulting coverage ratio of 1.19%, an increase from the prior quarter of 1.16%. As of June 30, 2026, non-accrual loans totaled $7.9 million, a $0.1 million decrease from the previous quarter-end, and a $0.5 million decrease from the $8.4 million reported at June 30, 2025. All loans on non-accrual are well supported by collateral, borrower assets, SBA guarantees, or specific reserves.

Deposits & Borrowings

Total deposits were $1.23 billion at June 30, 2026, a $28.1 million or 2.2% decrease from the prior quarter-end, and an increase of $95.5 million or 8.4% from June 30, 2025. Deposit growth year-over-year was represented by core deposits, with no wholesale brokered funds at June 30, 2026.

Non-interest-bearing demand deposits totaled $479.3 million at June 30, 2026, an increase of $14.5 million or 3.1% from the prior quarter-end, and an increase of $31.7 million or 7.1% from June 30, 2025.

Interest-bearing demand deposits totaled $158.9 million at June 30, 2026, a decrease of $32.9 million or 17.2% from the prior quarter-end, and an increase of $24.3 million or 18.1% from June 30, 2025. Total demand deposits, including interest-bearing demand, represent 52.0% of total deposits at June 30, 2026, compared to 52.3% at the prior quarter-end, and 51.4% at June 30, 2025.

Other interest-bearing deposits totaled $588.8 million at June 30, 2026, a decrease of $9.6 million or 1.6% from the prior quarter-end, and an increase of $39.4 million or 7.2% from June 30, 2025.

The weighted average cost of deposits for the second quarter of 2026 increased 2 basis points to 1.24% from 1.22% for the first quarter of 2026 and decreased 15 basis points from the 1.39% reported for the same quarter of the previous year. The decrease in cost of deposits in the last year was due to significant growth in demand deposits, and the Federal Reserve's three 25 basis point rate cuts in the last four months of 2025.

The Company's total borrowings were $68.7 million at June 30, 2026, an increase of $42.5 million from the prior quarter-end and a $30.2 million increase from June 30, 2025. At June 30, 2026, the Company had $9.5 million outstanding on a correspondent loan at a rate of 3.85%, $16.2 million of subordinated notes outstanding at a rate of 3.75%, and $43.0 million of short-term, one month or less duration advances with a weighted average cost of 3.75%. The weighted average cost on all borrowings for the second quarter of 2026 was 3.81%, resulting in $0.5 million of interest expense on borrowings, an increase of $0.1 million compared to the prior quarter, and equal to the interest expense on borrowings for the second quarter of 2025.

Due to significant demand deposits balances and continued focus on maintaining and growing relationships, total cost of funds remained low at 1.36% for the second quarter of 2026, which was 6 basis points higher than the 1.30% reported for the previous quarter, but 14 basis points lower than the 1.50% reported for the same quarter of the previous year.

The Company's net interest margin improved to 4.01% for the second quarter of 2026, compared to 3.97% in the prior quarter, and improved a significant 36 basis points from the 3.65% reported for the same quarter of last year as a result of steady loan yield improvement and a decline in total cost of funds for the comparison period.

The Bank's liquidity position remained strong with a primary liquidity ratio (cash and cash equivalents, deposits held in other banks and unpledged AFS securities as a percentage of total assets) of 11.8% at June 30, 2026, compared to 14.7% at March 31, 2026. As of June 30, 2026, the Bank had available and unused, secured borrowing capacity with the FHLB of $403.7 million, and had available and unused, secured borrowing capacity with the Federal Reserve of $6.5 million. In addition, the Bank had $144.3 million of unused Fed funds lines of credit with correspondent banks at June 30, 2026. Available contingent funding sources of $554.5 million remain robust.

Overall uninsured deposits, excluding public agency deposits that are collateralized, are conservatively estimated to be $430.4 million, or 35.1% of total deposit balances as of June 30, 2026. The actual level of uninsured deposits is lower than the percentage stated above, as our knowledgeable bankers have helped clients obtain more than $250,000 of FDIC insurance with vesting structures such as joint accounts, payable upon death accounts, and revocable trust accounts with multiple beneficiaries. In addition, the Bank can offer up to $285 million of FDIC pass-through insurance to clients via the IntraFi network Insured Cash Sweep ("ICS") or Certificate of Deposit Account Registry Service ("CDARS") products.

Shareholders' Equity
Total shareholders' equity was $134.8 million at June 30, 2026, a $3.5 million or 2.7% increase since March 31, 2026, and an increase of $17.2 million or 14.6% over the same period of the prior year. The tax adjusted unrealized loss on securities, which is a component of equity (accumulated other comprehensive income or "AOCI"), was $14.0 million at June 30, 2026, and improved $3.9 million or 22.0% from June 30, 2025. The Bank fully expects to receive all principal when the investments mature.

As of June 30, 2026, the Company had repurchased a cumulative 130,616 shares of common stock at a weighted average cost of $19.80, leaving $2.4 million available for repurchase under the share repurchase program. No shares were repurchased in the quarter ending June 30, 2026.

Company Profile

American Riviera Bancorp (OTCQX: ARBV) is a registered bank holding company headquartered in Santa Barbara, California. American Riviera Bank, the 100% owned subsidiary of American Riviera Bancorp, is a full-service community bank focused on serving the lending and deposit needs of businesses and consumers on the Central Coast of California. The state-chartered bank opened for business on July 18, 2006, with the support of local shareholders. Full-service branches are located in Santa Barbara, Montecito, Goleta, Santa Maria, San Luis Obispo, Atascadero, and Paso Robles. In December 2025, the Bank opened a lending center in the City of Ventura. The Bank provides commercial business, commercial real estate, residential mortgage, construction, and Small Business Administration lending services as well as convenient online and mobile technology. The Bank maintains a "5 Star - Superior" rating from Bauer Financial and for fifteen consecutive years, has been recognized for strong financial performance by the Findley Reports. The Bank is rated "Outstanding" by the Federal Deposit Insurance Corporation for its performance under the Community Reinvestment Act. The Bank was recognized by S&P Global as a Top 100 Small US Community Bank Deposit Franchise as of June 30, 2025. #BankonBetter #OTCQX

American Riviera Bank
www.americanriviera.bank
805-965-5942
Michelle Martinich

Statements concerning future performance, developments or events concerning expectations for growth and market forecasts, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, effects of interest rate changes, ability to control costs and expenses, impact of consolidation in the banking industry, financial policies of the US government, and general economic conditions.

American Riviera Bancorp and Subsidiaries
Balance Sheets (unaudited)
(dollars in thousands)

June 30,

June 30,

One Year

One Year

2026

2025

$ Change

% Change

Assets

Cash & Due From Banks

$

27,964

$

28,111

$

(147

)

-1

%

Available-for-sale securities

164,117

162,089

2,028

1

%

Held-to-maturity securities, net

41,469

41,392

77

0

%

Loans

1,153,669

1,020,261

133,408

13

%

Allowance For Credit Losses

(13,733

)

(12,496

)

(1,237

)

10

%

Net Loans

1,139,936

1,007,765

132,171

13

%

Premise & Equipment

9,972

7,773

2,199

28

%

Operating Lease Right-of-Use Asset

4,973

6,184

(1,211

)

-20

%

Bank Owned Life Insurance

14,329

12,370

1,959

16

%

Stock in Other Banks

7,243

6,786

457

-

Goodwill and Other Intangibles

4,872

4,889

(17

)

0

%

Other Assets

28,037

23,086

4,951

21

%

Total Assets

$

1,442,912

$

1,300,445

$

142,467

11

%

Liabilities & Shareholders' Equity

Non-interest-bearing Demand Deposits

$

479,267

$

447,534

$

31,733

7

%

Interest-bearing Demand Deposits

158,852

134,538

24,314

18

%

Other Interest-bearing Deposits

588,826

549,404

39,422

7

%

Total Deposits

1,226,945

1,131,476

95,469

8

%

Borrowed Funds

68,650

38,500

30,150

78

%

Allowance for credit losses on off-balance sheet exposures

974

993

(19

)

-2

%

Other Liabilities

11,528

11,865

(337

)

-3

%

Total Liabilities

1,308,097

1,182,834

125,263

11

%

Common Stock

67,203

67,914

(711

)

-1

%

Retained Earnings

81,617

67,645

13,972

21

%

Other Capital

(14,005

)

(17,948

)

3,943

22

%

Total Shareholders' Equity

134,815

117,611

17,204

15

%

Total Liabilities & Shareholders' Equity

$

1,442,912

$

1,300,445

$

142,467

11

%

American Riviera Bancorp and Subsidiaries
Balance Sheets (unaudited)
(dollars in thousands)

June 30,

March 31,

December 31,

September 30,

June 30,

2026

2026

2025

2025

2025

Assets

Cash & Due From Banks

$

27,964

$

66,678

$

21,395

$

128,753

$

28,111

Available-for-sale securities

164,117

164,958

169,793

164,459

162,089

Held-to-maturity securities

41,469

41,450

41,430

41,411

41,392

Loans

1,153,669

1,099,436

1,081,696

1,041,839

1,020,261

Allowance for Credit Losses

(13,733

)

(12,712

)

(12,689

)

(12,689

)

(12,496

)

Net Loans

1,139,936

1,086,724

1,069,007

1,029,150

1,007,765

Premise & Equipment

9,972

7,108

7,255

7,494

7,773

Operating Lease Right-of-Use Asset

4,973

5,280

5,584

5,885

6,184

Bank Owned Life Insurance

14,329

14,193

14,051

12,489

12,370

Stock in Other Banks

7,243

6,786

6,786

6,786

6,786

Goodwill and Other Intangibles

4,872

4,873

4,871

4,883

4,889

Other Assets

28,037

25,201

27,117

21,142

23,086

Total Assets

$

1,442,912

$

1,423,251

$

1,367,289

$

1,422,452

$

1,300,445

Liabilities & Shareholders' Equity

Non-interest-bearing Demand Deposits

$

479,267

$

464,816

$

451,721

$

482,343

$

447,534

Interest-bearing Demand Deposits

158,852

191,756

168,399

180,930

134,538

Other Interest-bearing Deposits

588,826

598,427

579,902

597,454

549,404

Total Deposits

1,226,945

1,254,999

1,200,022

1,260,727

1,131,476

Borrowed Funds

68,650

26,150

26,500

26,500

38,500

Allowance for credit losses on off-balance sheet exposures

974

974

974

1,215

993

Other Liabilities

11,528

9,822

12,123

11,956

11,865

Total Liabilities

1,308,097

1,291,945

1,239,619

1,300,398

1,182,834

Common Stock

67,203

66,858

67,263

68,493

67,914

Retained Earnings

81,617

78,309

74,330

68,276

67,645

Other Capital

(14,005

)

(13,861

)

(13,923

)

(14,715

)

(17,948

)

Total Shareholders' Equity

134,815

131,306

127,670

122,054

117,611

Total Liabilities & Shareholders' Equity

$

1,442,912

$

1,423,251

$

1,367,289

$

1,422,452

$

1,300,445

American Riviera Bancorp and Subsidiaries
Average Balance Sheets (unaudited)
(dollars in thousands)

2Q 2026

1Q 2026

4Q 2025

3Q 2025

2Q 2025

Average

Average

Average

Average

Average

Assets

Cash & Due From Banks

$

21,423

$

26,222

$

109,112

$

70,822

$

21,159

Available-for-sale securities

164,624

168,770

166,373

162,709

166,833

Held-to-maturity securities

41,455

41,436

41,416

41,397

41,414

Loans

1,121,809

1,089,710

1,055,371

1,031,749

1,007,429

Allowance for Credit Losses

(12,790

)

(12,690

)

(12,689

)

(12,626

)

(12,010

)

Net Loans

1,109,019

1,077,020

1,042,682

1,019,123

995,419

Premise & Equipment

7,154

7,212

7,392

7,666

7,910

Operating Lease Right-of-Use Asset

5,162

5,467

5,762

6,057

4,636

Bank Owned Life Insurance

14,282

14,141

13,762

12,448

12,330

Stock in Other Banks

7,168

6,786

6,786

6,786

6,786

Goodwill and Other Intangibles

4,876

4,870

4,877

4,887

4,894

Other Assets

25,207

25,267

21,352

21,981

20,943

Total Assets

$

1,400,370

$

1,377,191

$

1,419,514

$

1,353,876

$

1,282,324

Liabilities & Shareholders' Equity

Non-interest-bearing Demand Deposits

$

452,972

$

452,958

$

476,473

$

465,622

$

433,652

Interest-bearing Demand Deposits

158,369

156,074

156,271

150,042

120,062

Other Interest-bearing Deposits

586,709

585,890

621,162

579,637

554,088

Total Deposits

1,198,050

1,194,922

1,253,906

1,195,301

1,107,802

Borrowed Funds

56,876

39,039

26,589

26,674

47,231

Allowance for credit losses on off-balance sheet exposures

974

974

1,212

1,085

1,092

Other Liabilities

10,747

11,857

13,149

12,052

10,208

Total Liabilities

1,266,647

1,246,792

1,294,856

1,235,112

1,166,333

Common Stock

67,064

67,159

68,695

68,413

68,092

Retained Earnings

80,476

76,468

70,292

67,886

66,288

Other Capital

(13,817

)

(13,228

)

(14,329

)

(17,535

)

(18,389

)

Total Shareholders' Equity

133,723

130,399

124,658

118,764

115,991

Total Liabilities & Shareholders' Equity

$

1,400,370

$

1,377,191

$

1,419,514

$

1,353,876

$

1,282,324

American Riviera Bancorp and Subsidiaries
Statement of Income (unaudited)
(dollars in thousands, except per share data)

Quarter Ended

Six Months Ended

June 30,

June 30,

June 30,

June 30,

2026

2025

Change

2026

2025

Change

Interest Income

Interest and Fees on Loans

$

16,345

$

14,168

15

%

$

31,839

$

27,866

14

%

Interest on Securities

1,394

1,439

-3

%

2,794

2,928

-5

%

Interest on Due From Banks

68

82

-17

%

180

244

-26

%

Total Interest Income

17,807

15,689

13

%

34,813

31,038

12

%

Interest Expense

Interest Expense on Deposits

3,719

3,822

-3

%

7,303

7,687

-5

%

Interest Expense on Borrowings

540

487

11

%

914

860

6

%

Total Interest Expense

4,259

4,309

-1

%

8,217

8,547

-4

%

Net Interest Income

13,548

11,380

19

%

26,596

22,491

18

%

Provision for Credit Losses

1,020

634

61

%

1,043

921

13

%

Provision for Off-Balance Sheet Credit Exposures

-

(133

)

-100

%

-

(59

)

-100

%

Net Interest Income After Provision

12,528

10,879

15

%

25,553

21,629

18

%

Non-Interest Income

Service Charges, Commissions and Fees

795

639

24

%

1,425

1,187

20

%

Other Non-Interest Income

292

247

18

%

863

514

68

%

Total Non-Interest Income

1,087

886

23

%

2,288

1,701

35

%

Non-Interest Expense

Salaries and Employee Benefits

5,670

5,250

8

%

11,477

10,648

8

%

Occupancy and Equipment

914

929

-2

%

1,844

1,866

-1

%

Other Non-Interest Expense

2,653

2,072

28

%

4,978

4,109

21

%

Total Non-Interest Expense

9,237

8,251

12

%

18,299

16,623

10

%

Net Income Before Provision for Taxes

4,378

3,514

25

%

9,542

6,707

42

%

Provision for Taxes

1,070

870

23

%

2,279

1,740

31

%

Net Income

$

3,308

$

2,644

25

%

$

7,263

$

4,967

46

%

Shares Outstanding

5,759,969

5,810,042

-1

%

5,759,969

5,810,042

-1

%

Earnings Per Share - Basic

$

0.57

$

0.46

24

%

$

1.26

$

0.86

47

%

Return on Average Assets

0.95

%

0.83

%

14

%

1.05

%

0.78

%

35

%

Return on Average Equity

9.92

%

9.14

%

9

%

11.09

%

8.74

%

27

%

Net Interest Margin

4.01

%

3.65

%

10

%

3.99

%

3.63

%

10

%

American Riviera Bancorp and Subsidiaries
Five Quarter Statements of Income (unaudited)
(dollars in thousands, except per share data)

Three Months Ended

June, 30

March 31,

December 31,

September 30,

June 30,

2026

2026

2025

2025

2025

Interest Income

Interest and Fees on Loans

$

16,345

$

15,494

$

15,437

$

14,789

$

14,168

Interest on Securities

1,394

1,400

1,378

1,340

1,439

Interest on Due From Banks

68

112

962

621

82

Total Interest Income

17,807

17,006

17,777

16,750

15,689

Interest Expense

Interest Expense on Deposits

3,719

3,584

4,282

4,315

3,822

Interest Expense on Borrowings

540

374

254

257

487

Total Interest Expense

4,259

3,958

4,536

4,572

4,309

Net Interest Income

13,548

13,048

13,241

12,178

11,380

Provision for Credit Losses

1,020

23

-

194

634

Provision for Off-Balance Sheet Credit Exposures

-

-

(240

)

221

(133

)

Net Interest Income After Provision

12,528

13,025

13,481

11,763

10,879

Non-Interest Income

Service Charges, Commissions and Fees

795

630

609

631

639

Other Non-Interest Income

292

571

284

289

247

Total Non-Interest Income

1,087

1,201

893

920

886

Non-Interest Expense

Salaries and Employee Benefits

5,670

5,807

5,744

5,467

5,250

Occupancy and Equipment

914

930

917

922

929

Other Non-Interest Expense

2,653

2,325

2,393

2,240

2,072

Total Non-Interest Expense

9,237

9,062

9,054

8,629

8,251

Net Income Before Provision for Taxes

4,378

5,164

5,320

4,054

3,514

Provision for Taxes

1,070

1,209

772

1,125

870

Net Income

$

3,308

$

3,955

$

4,548

$

2,929

$

2,644

Shares Outstanding

5,759,969

5,750,168

5,713,022

5,708,960

5,810,042

Earnings Per Share - Basic

$

0.57

$

0.69

$

0.80

$

0.51

$

0.46

Net Income pre-tax, pre-provision (Non-GAAP)

$

5,398

$

5,187

$

5,080

$

4,469

$

4,015

American Riviera Bancorp and Subsidiaries
Selected Financial Highlights (unaudited)
(dollars in thousands, except per share data)

At or for the Three Months Ended

June 30,

March 31,

December 31,

September 30,

June 30,

2026

2026

2025

2025

2025

Income and performance ratios:

Net Income

$

3,308

$

3,955

$

4,549

$

2,929

$

2,644

Earnings per share - basic

0.57

0.69

0.80

0.51

0.46

Return on average assets

0.95

%

1.16

%

1.27

%

0.85

%

0.83

%

Return on average equity

9.92

%

12.30

%

14.48

%

9.75

%

9.14

%

Return on tangible common equity

10.29

%

12.77

%

15.06

%

10.22

%

9.54

%

Loan yield

5.84

%

5.77

%

5.80

%

5.69

%

5.64

%

Cost of funds

1.36

%

1.30

%

1.41

%

1.48

%

1.50

%

Cost of deposits

1.24

%

1.22

%

1.29

%

1.45

%

1.39

%

Net interest margin

4.01

%

3.97

%

3.81

%

3.66

%

3.65

%

Efficiency ratio (b)

63.12

%

63.60

%

64.05

%

65.89

%

67.26

%

Balance Sheet ratios:

Loan-to-deposit ratio

94.03

%

87.60

%

90.14

%

82.64

%

90.17

%

Non-interest-bearing deposits / total deposits

39.06

%

37.04

%

37.64

%

38.26

%

39.55

%

Demand deposits / total deposits

52.01

%

52.32

%

51.68

%

52.61

%

51.44

%

Asset quality:

Allowance for credit losses

$

13,733

$

12,712

$

12,689

$

12,689

$

12,496

Nonperforming assets

7,888

8,013

8,116

9,803

8,442

Allowance for credit losses / total loans and leases

1.19

%

1.16

%

1.17

%

1.22

%

1.22

%

Net charge-offs / average loans and leases (annualized)

0.00

%

0.00

%

0.00

%

0.00

%

0.00

%

Texas ratio (a)

6.78

%

7.04

%

7.37

%

9.38

%

8.42

%

Capital ratios for American Riviera Bank (c):

Tier 1 risk-based capital

12.40

%

12.69

%

12.54

%

12.56

%

13.39

%

Total risk-based capital

13.56

%

13.82

%

13.68

%

13.77

%

14.59

%

Tier 1 leverage ratio

11.25

%

11.16

%

10.55

%

10.69

%

11.78

%

Capital ratios for American Riviera Bancorp (c):

Tier 1 risk-based capital

11.36

%

11.63

%

11.48

%

11.49

%

11.61

%

Total risk-based capital

13.72

%

14.02

%

13.93

%

14.03

%

14.19

%

Tier 1 leverage ratio

10.32

%

10.22

%

9.66

%

9.78

%

10.16

%

Tangible common equity ratio

9.04

%

8.91

%

9.01

%

8.27

%

8.70

%

Equity and share related:

Common equity

$

134,815

$

131,306

$

127,670

$

122,054

$

117,611

Book value per share

23.41

22.84

22.35

21.38

20.24

Tangible book value per share

22.56

21.99

21.49

20.52

19.40

Tangible book value per share, excluding AOCI (d)

24.99

24.40

23.93

23.10

22.49

Stock closing price per share

25.60

23.60

23.90

21.99

19.27

Number of shares issued and outstanding

5,759.97

5,750.17

5,713.02

5,708.96

5,810.04

Notes:

(a) Sum of Nonperforming Assets and Other Real Estate Owned, divided by the sum of Total Shareholder Equity and Total Allowance for Credit Losses less Preferred Stock and Intangible Assets.

(b) Annualized Operating Expense excluding Provision for Credit Losses minus Annualized Extraordinary Expense, divided by Annualized Interest Income including Loan Fees minus Annualized Interest Expense plus Annualized Non-Interest Income minus Annualized Extraordinary Income, expressed as a percentage.

(c) Current period capital ratios are preliminary.

(d) Accumulated Other Comprehensive Income (AOCI) is comprised of the tax adjusted unrealized loss on securities and is presented as Other Capital on the Balance Sheet.

SOURCE: American Riviera Bancorp

SAN FRANCISCO--(BUSINESS WIRE)--Apartment List, a leading AI-powered rental platform, today announced a new integration bringing its pay-per-lease model to AppFolio. This integration makes Apartment List a performance-based leasing option in the AppFolio Stack™ Marketplace – property teams pay when a lease is signed, not for clicks or leads. The expanded partnership furthers Apartment List's mission to match renters with homes they love and helps property teams connect with higher-intent renters.

Progress Software Corporation (PRGS) M&A Call July 22, 2026 5:00 PM EDT

Company Participants

Michael Micciche - Senior Vice President of Investor Relations
Anthony Folger - Executive VP, CFO & Treasurer
Yogesh Gupta - CEO, President & Director

Conference Call Participants

Lawrence Vensko - Guggenheim Securities, LLC, Research Division
Eric Martinuzzi - Lake Street Capital Markets, LLC, Research Division
Lucky Schreiner - D.A. Davidson & Co., Research Division
Nolan Bruce Jenevein - Oppenheimer & Co. Inc., Research Division

Presentation

Operator

Good day, and welcome to the Progress Software to acquire Domo's AI and Data Platform Business Call. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker, Mr. Mike Micciche, Senior Vice President of Investor Relations. Please go ahead.

Michael Micciche
Senior Vice President of Investor Relations

Okay. Great. Thanks, Sherry. Good afternoon, everybody, and thank you for joining us today. Yogesh Gupta, our CEO; and Anthony Folger, our CFO, are on the call with me today. As you likely saw, Progress just announced our proposed acquisition of Domo's AI and data platform business. You can find the press release on the Investor Relations section of our website at investors.progress.com, along with a supplemental slide deck.

Before we get started, we need to remind you that during this call, we may make forward-looking -- discuss forward-looking items, including our outlook perspective, financial and operating performance, corporate strategies, product plans, cost initiatives and other information that might be considered forward-looking, including the timing and potential results associated with our proposed acquisitions. This forward-looking information represents Progress Software's outlook and the potential impact of Domo's AI and data platform acquisition only as of today, and is subject to risks and uncertainties, and the actual results may differ.

Please review the safe harbor

Raymond James Financial, Inc. (RJF) Q3 2026 Earnings Call Transcript

Sterling Infrastructure is one former stock pick where technical indicators are flashing bullish. (Dreamstime)

Reviewing former stock picks is an important part of the investment process, providing valuable insight into what worked, what changed, and how technical setups evolved over time. By revisiting these ideas, we can identify recurring patterns, evaluate our analysis, and continue refining the approach.

For the quarter ended June 30, 2026

Net Revenue $3.15 billion Net Income $373 million Diluted Earnings per Share $0.53 per Share  Consolidated Adjusted Property EBITDA $1.12 billion LVS Repurchased $787 million of Common Stock during the quarter LVS Board of Directors Increased Stock Repurchase Authorization to $6.0 billion , /PRNewswire/ -- Las Vegas Sands (NYSE: LVS), the leading global developer and operator of Integrated Resorts, today reported financial results for the quarter ended June 30, 2026.

"We continued to execute our strategic objectives during the quarter in both Singapore and Macao while continuing to increase the return of capital to shareholders," said Patrick Dumont, chairman and chief executive officer.

"In Macao, our ongoing investments in enhanced service and hospitality offerings contributed to growth in volumes across all gaming segments as compared to the prior year, although unusually low hold in rolling play negatively impacted our reported financial results for the quarter.

"At Marina Bay Sands in Singapore, we continued to deliver industry-leading financial performance. 

"Looking ahead, we remain confident that our people, our products and our focus on delivering outstanding service, hospitality and entertainment experiences to our customers will drive growth for the company and deliver strong returns to our shareholders in the years ahead."

Net revenue was $3.15 billion, compared to $3.18 billion in the prior year quarter.  Operating income was $618 million, compared to $783 million in the prior year quarter.  Net income in the second quarter of 2026 was $373 million, compared to $519 million in the second quarter of 2025. 

Consolidated adjusted property EBITDA was $1.12 billion, compared to $1.33 billion in the prior year quarter.

Sands China Ltd. Consolidated Financial Results
On a GAAP basis, total net revenues for SCL decreased 0.8% to $1.78 billion, compared to the second quarter of 2025.  Net income for SCL decreased 50.0% to $107 million, compared to $214 million in the second quarter of 2025.

Other Factors Affecting Earnings
Interest expense, net of amounts capitalized, was $189 million for the second quarter of 2026, compared to $194 million in the prior year quarter.  Our weighted average debt balance was $16.06 billion during the second quarter of 2026, compared to $15.85 billion during the second quarter of 2025.  Our weighted average borrowing cost was 4.6% during the second quarter of 2026, compared to 4.8% during the second quarter of 2025.

Our effective income tax rate for the second quarter of 2026 was 19.1%, compared to 14.8% in the prior year quarter.  The income tax rate for the second quarter of 2026 was primarily driven by a 17% statutory rate on our Singapore operations.

Stockholder Returns
During the second quarter of 2026, we repurchased $787 million of our common stock (approximately 15 million shares at a weighted average price of $52.37).  The remaining amount authorized under our share repurchase program was $29 million as of June 30, 2026.  Subsequently, on July 21, 2026, the company's Board of Directors authorized increasing the remaining share repurchase amount to $6.0 billion and extending the expiration date of the authorization to July 21, 2029.  Since the resumption of our share repurchase program in the fourth quarter of 2023 through June 30, 2026, we have repurchased 16.3% of our outstanding shares, approximately 124 million shares of our common stock at an average price of $48.49, for a total investment of $6.03 billion.  The timing and actual number of shares to be repurchased in the future will depend on a variety of factors, including the company's financial position, earnings, legal requirements, other investment opportunities and market conditions.

We paid a quarterly dividend of $0.30 per common share during the quarter.  Our next quarterly dividend of $0.30 per common share will be paid on August 12, 2026, to Las Vegas Sands stockholders of record on August 4, 2026.

Balance Sheet Items
Unrestricted cash balances as of June 30, 2026 were $3.38 billion.

In May 2026, the company received $1.26 billion of proceeds from the repayment in full of the seller financing loan related to the sale of the Las Vegas real property and operations.

The company has access to $4.26 billion available for borrowing under our U.S., SCL and Singapore revolving credit facilities, net of outstanding letters of credit, and $4.68 billion available under a delayed draw term loan facility that may be used to finance development and construction costs, expenses, fees and other payments related to the MBS Expansion Project.  As of June 30, 2026, total debt outstanding, net of deferred offering costs and original issue discounts, excluding finance leases, was $15.11 billion.

Capital Expenditures
Capital expenditures during the second quarter totaled $332 million, including construction, development and maintenance activities of $215 million at Marina Bay Sands, $86 million in Macao and $31 million in corporate and other.

Conference Call Information
The company will host a conference call to discuss the company's results on Wednesday, July 22, 2026, at 1:30 p.m. Pacific Time.  Interested parties may listen to the conference call through a webcast available on the company's website at www.sands.com.

About Sands (NYSE: LVS) 
Sands is the leading global developer and operator of integrated resorts.  The company's iconic properties drive valuable leisure and business tourism and deliver significant economic benefits, sustained job creation, financial opportunities for local businesses and community investment to help make its host regions ideal places to live, work and visit.

Sands' portfolio of properties includes Marina Bay Sands® in Singapore and The Venetian® Macao, The Londoner Macao®, The Parisian® Macao, The Plaza® Macao and Four Seasons® Hotel Macao, and Sands® Macao in Macao SAR, China, through majority ownership in Sands China Ltd. 

Dedicated to being a leader in corporate responsibility, Sands is anchored by the core tenets of serving people, communities and the planet.  The company's ESG leadership has led to inclusion on the Dow Jones Best-in-Class Indices for World and North America, as well as Fortune's list of the World's Most Admired Companies.  To learn more, visit www.sands.com.

Forward-Looking Statements
This press release contains forward-looking statements made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.  These forward-looking statements include the discussions of our business strategies and expectations concerning future operations, margins, profitability, liquidity and capital resources.  In addition, in certain portions included in this press release, the words "anticipates," "believes," "can," "continues," "estimates," "expects," "goals," "intends," "looks forward to," "may," "opportunities," "plans," "positions," "remains," "seeks," "should," "targets," "will," "would" and similar expressions, as they relate to our company or management, are intended to identify forward-looking statements.  Although we believe these forward-looking statements are reasonable, we cannot assure you any forward-looking statements will prove to be correct.  These statements represent our expectations, beliefs, intentions or strategies concerning future events that, by their nature, involve a number of risks, uncertainties or other factors beyond our control, which may cause our actual results, performance, achievements or other expectations to be materially different from any future results, performance, achievements or other expectations expressed or implied by these forward-looking statements.  These factors include, but are not limited to, the risks associated with: our gaming license in Singapore and concession in Macao and amendments to Macao's gaming laws; general economic conditions; disruptions or reductions in travel and our operations due to natural or man-made disasters, pandemics, epidemics or outbreaks of infectious or contagious diseases; our ability to invest in future growth opportunities, or attempt to expand our business in new markets and new ventures, execute our capital expenditure programs at our existing properties and produce future returns; government regulation; the extent to which the laws and regulations of mainland China become applicable to our operations in Macao and Hong Kong; the possibility that economic, political and legal developments in Macao adversely affect our Macao operations, or that there is a change in the manner in which regulatory oversight is conducted in Macao; our subsidiaries' ability to make distribution payments to us; substantial leverage and debt service; fluctuations in currency exchange rates and interest rates; our ability to collect gaming receivables; win rates for our gaming operations; risk of fraud and cheating; competition; tax law changes; political instability, civil unrest, terrorist acts or war; legalization of gaming; insurance; limitations on the transfers of cash to and from our subsidiaries; limitations of the pataca exchange markets; restrictions on the export of the renminbi; and other risks and uncertainties detailed in Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q filed by Las Vegas Sands Corp. with the Securities and Exchange Commission.  Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date such statement is made.  Las Vegas Sands Corp. assumes no obligation to update any forward-looking statements and information.

Las Vegas Sands Corp.
Second Quarter 2026 Results
Non-GAAP Financial Measures

Within the company's second quarter 2026 press release, the company makes reference to certain non-GAAP financial measures that supplement the company's consolidated financial information prepared in accordance with GAAP including "adjusted net income (loss)," "adjusted earnings (loss) per diluted share" and "consolidated adjusted property EBITDA," which have directly comparable GAAP financial measures.  The company believes these measures represent important internal measures of financial performance.  Set forth in the financial schedules accompanying this press release and presentations included on the company's website are reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures.  The non-GAAP financial measure disclosure by the company has limitations and should not be considered a substitute for, or superior to, the financial measures prepared in accordance with GAAP.  The definitions of our non-GAAP financial measures and the specific reasons why the company's management believes the presentation of the non-GAAP financial measures provides useful information to investors regarding the company's financial condition, results of operations and cash flows are presented below.

The following non-GAAP financial measures are used by management, as well as industry analysts, to evaluate the company's operations and operating performance.  These non-GAAP financial measures are presented so investors have the same financial data management uses in evaluating financial performance with the belief it will assist the investment community in properly assessing the underlying financial performance of the company on a year-over-year and a quarter sequential basis.

Adjusted net income (loss), which is a non-GAAP financial measure, is net income (loss) attributable to Las Vegas Sands excluding pre-opening expense, development expense, gain or loss on disposal or impairment of assets, gain or loss on modification or early retirement of debt, other income or expense and certain nonrecurring corporate expenses, net of income tax.  Adjusted net income (loss) and adjusted earnings (loss) per diluted share are presented as supplemental disclosures as management believes they are (1) each widely used measures of performance by industry analysts and investors and (2) a principal basis for valuation of Integrated Resort companies, as these non-GAAP financial measures are considered by many as alternative measures on which to base expectations for future results.  These measures also form the basis of certain internal management performance expectations.

Consolidated adjusted property EBITDA, which is a non-GAAP financial measure, is net income (loss) before stock-based compensation expense, corporate expense, pre-opening expense, development expense, depreciation and amortization, amortization of leasehold interests in land, gain or loss on disposal or impairment of assets, interest, other income or expense, gain or loss on modification or early retirement of debt and income taxes.  Management utilizes consolidated adjusted property EBITDA to compare the operating profitability of its operations with those of its competitors, as well as a basis for determining certain incentive compensation.  Integrated Resort companies, including Las Vegas Sands, have historically reported adjusted property EBITDA as a supplemental performance measure to GAAP financial measures.  In order to view the operations of their properties on a more stand-alone basis, Integrated Resort companies, including Las Vegas Sands, have historically excluded certain expenses that do not relate to the management of specific properties, such as pre-opening expense, development expense and corporate expense, from their adjusted property EBITDA calculations.  Consolidated adjusted property EBITDA should not be interpreted as an alternative to income (loss) from operations (as an indicator of operating performance) or to cash flows from operations (as a measure of liquidity), in each case, as determined in accordance with GAAP.  The company has significant uses of cash flow, including capital expenditures, dividend payments, interest payments, debt principal repayments, share repurchases and income tax payments, which are not reflected in consolidated adjusted property EBITDA.  Not all companies calculate adjusted property EBITDA in the same manner.  As a result, consolidated adjusted property EBITDA as presented by Las Vegas Sands may not be directly comparable to similarly titled measures presented by other companies.

Exhibit 1

Las Vegas Sands Corp. and Subsidiaries

Condensed Consolidated Statements of Operations

(In millions, except per share data)

(Unaudited)

Three Months Ended

Six Months Ended

June 30,

June 30,

2026

2025

2026

2025

Revenues:

  Casino

$        2,341

$        2,415

$        5,080

$        4,542

  Rooms

359

345

736

669

  Food and beverage

168

147

344

288

  Mall

198

187

402

373

  Convention, retail and other

88

81

177

165

Net revenues

3,154

3,175

6,739

6,037

Operating expenses:

  Resort operations

2,041

1,846

4,208

3,569

  Corporate

74

69

157

142

  Pre-opening

5

9

9

13

  Development

43

69

84

138

  Depreciation and amortization

350

371

707

733

  Amortization of leasehold interests in land

21

20

42

35

Loss on disposal or impairment of assets

2

8

10

15

2,536

2,392

5,217

4,645

Operating income

618

783

1,522

1,392

Other income (expense):

  Interest income

31

42

66

84

  Interest expense, net of amounts capitalized

(189)

(194)

(377)

(368)

Other income (expense)

1

(22)

(2)

(23)

Loss on modification or early retirement of debt

—

—

—

(5)

Income before income taxes

461

609

1,209

1,080

Income tax expense

(88)

(90)

(195)

(153)

Net income

373

519

1,014

927

Net income attributable to noncontrolling interests

(27)

(58)

(101)

(114)

Net income attributable to Las Vegas Sands Corp.

$           346

$           461

$           913

$           813

Earnings per share:

Basic

$          0.53

$          0.66

$          1.38

$          1.15

Diluted

$          0.53

$          0.66

$          1.38

$          1.15

Weighted average shares outstanding:

  Basic

654

695

661

704

  Diluted

656

696

663

704

Exhibit 2

Las Vegas Sands Corp. and Subsidiaries

Net Revenues and Adjusted Property EBITDA

(In millions)

(Unaudited)

Three Months Ended

Six Months Ended

June 30,

June 30,

2026

2025

2026

2025

Net Revenues

The Venetian Macao

$        591

$        663

$     1,301

$     1,301

The Londoner Macao

710

642

1,464

1,171

The Parisian Macao

218

194

447

421

The Plaza Macao and Four Seasons Macao

137

194

427

402

Sands Macao

95

71

188

146

Ferry Operations and Other

39

33

77

65

  Macao Operations

1,790

1,797

3,904

3,506

Marina Bay Sands

1,380

1,388

2,867

2,551

Intercompany Royalties

83

67

170

128

Intersegment Eliminations(1)

(99)

(77)

(202)

(148)

$     3,154

$     3,175

$     6,739

$     6,037

Adjusted Property EBITDA

The Venetian Macao

$        165

$        236

$        403

$        461

The Londoner Macao

192

205

415

358

The Parisian Macao

38

44

84

110

The Plaza Macao and Four Seasons Macao

20

66

134

140

Sands Macao

11

9

20

19

Ferry Operations and Other

4

6

7

13

  Macao Operations

430

566

1,063

1,101

Marina Bay Sands

689

768

1,477

1,373

$     1,119

$     1,334

$     2,540

$     2,474

Adjusted Property EBITDA as a Percentage of Net Revenues

The Venetian Macao

27.9 %

35.6 %

31.0 %

35.4 %

The Londoner Macao

27.0 %

31.9 %

28.3 %

30.6 %

The Parisian Macao

17.4 %

22.7 %

18.8 %

26.1 %

The Plaza Macao and Four Seasons Macao

14.6 %

34.0 %

31.4 %

34.8 %

Sands Macao

11.6 %

12.7 %

10.6 %

13.0 %

Ferry Operations and Other

10.3 %

18.2 %

9.1 %

20.0 %

  Macao Operations

24.0 %

31.5 %

27.2 %

31.4 %

Marina Bay Sands

49.9 %

55.3 %

51.5 %

53.8 %

Total

35.5 %

42.0 %

37.7 %

41.0 %

____________________

(1)

Intersegment eliminations include royalties and other intercompany services.

Exhibit 3

Las Vegas Sands Corp. and Subsidiaries

Non-GAAP Financial Measure Reconciliation

(In millions)

(Unaudited)

The following is a reconciliation of Net Income to Consolidated Adjusted Property EBITDA:

Three Months Ended

Six Months Ended

June 30,

June 30,

2026

2025

2026

2025

Net income

$           373

$           519

$        1,014

$           927

  Add (deduct):

Income tax expense

88

90

195

153

Loss on modification or early retirement of debt

—

—

—

5

Other (income) expense

(1)

22

2

23

Interest expense, net of amounts capitalized

189

194

377

368

Interest income

(31)

(42)

(66)

(84)

Loss on disposal or impairment of assets

2

8

10

15

Amortization of leasehold interests in land

21

20

42

35

Depreciation and amortization

350

371

707

733

Development expense

43

69

84

138

Pre-opening expense

5

9

9

13

Stock-based compensation(1)

6

5

9

6

Corporate expense

74

69

157

142

Consolidated Adjusted Property EBITDA

$        1,119

$        1,334

$        2,540

$        2,474

____________________

(1)

During the three months ended June 30, 2026 and 2025, the company recorded stock-based compensation expense of $15 million and $17 million, respectively, of which $9 million and $12 million, respectively, was included in corporate expense in the accompanying condensed consolidated statements of operations.

During the six months ended June 30, 2026 and 2025, the company recorded stock-based compensation expense of $39 million and $26 million, respectively, of which $30 million and $20 million, respectively, was included in corporate expense in the accompanying condensed consolidated statements of operations.

Exhibit 4

Las Vegas Sands Corp. and Subsidiaries

Non-GAAP Financial Measure Reconciliation

(In millions, except per share data)

(Unaudited)

The following is a reconciliation of Net Income Attributable to LVS to Adjusted Net Income:

Three Months Ended

Six Months Ended

June 30,

June 30,

2026

2025

2026

2025

Net income attributable to LVS

$           346

$           461

$           913

$           813

Pre-opening expense

5

9

9

13

Development expense

43

69

84

138

Loss on disposal or impairment of assets

2

8

10

15

Other (income) expense

(1)

22

2

23

Loss on modification or early retirement of debt

—

—

—

5

Income tax impact on net income adjustments(1)

(11)

(14)

(20)

(28)

Noncontrolling interest impact on net income adjustments

—

(8)

(2)

(11)

Adjusted net income attributable to LVS

$           384

$           547

$           996

$           968

The following is a reconciliation of Net Income per Diluted Share to Adjusted Earnings per Diluted Share:

Three Months Ended

Six Months Ended

June 30,

June 30,

2026

2025

2026

2025

Per diluted share of common stock:

Net income attributable to LVS

$          0.53

$          0.66

$          1.38

$          1.15

Pre-opening expense

0.01

0.01

0.01

0.02

Development expense

0.07

0.10

0.13

0.20

Loss on disposal or impairment of assets

—

0.01

0.01

0.02

Other (income) expense

—

0.03

—

0.03

Loss on modification or early retirement of debt

—

—

—

0.01

Income tax impact on net income adjustments

(0.02)

(0.01)

(0.03)

(0.03)

Noncontrolling interest impact on net income adjustments

—

(0.01)

—

(0.02)

Adjusted earnings per diluted share

$          0.59

$          0.79

$          1.50

$          1.38

Weighted average diluted shares outstanding

656

696

663

704

____________________

(1)

The income tax impact for each adjustment is derived by applying the effective tax rate, including current and deferred income tax expense, based upon the jurisdiction and the nature of the adjustment.

Exhibit 5

Las Vegas Sands Corp. and Subsidiaries

Supplemental Data

(In millions)

(Unaudited)

The following reflects the impact on Net Revenues for hold-adjusted win percentage:

Three Months Ended

June 30,

2026

2025

Macao Operations

$          147

$           (11)

Marina Bay Sands(1)

(49)

(102)

$            98

$         (113)

The following reflects the impact on Adjusted Property EBITDA for hold-adjusted win percentage:

Three Months Ended

June 30,

2026

2025

Macao Operations

$            87

$             (7)

Marina Bay Sands(1)

(37)

(80)

$            50

$           (87)

____________________

Note:

These amounts represent the estimated impact of the hold adjustment that would have occurred had the company's Rolling Chip win percentage for the three months ended June 30, 2026 and 2025, equaled 3.3% for the Macao operations and 4.2% and 4.1%, respectively, for Marina Bay Sands. Included are the estimated commissions paid, discounts and other incentives rebated directly or indirectly to customers, gaming taxes and bad debt expense that would have been incurred or avoided.

(1)

Beginning with the three months ended September 30, 2025, we revised our expected hold-adjusted win percentage for Marina Bay Sands to be based on the theoretical hold percentage measured by technology-enabled gaming tables.  Presentation of the prior year period has been revised to be consistent with that methodology.

Exhibit 6

Las Vegas Sands Corp. and Subsidiaries

Supplemental Data

(Unaudited)

Three Months Ended

Six Months Ended

June 30,

June 30,

2026

2025

2026

2025

Casino Statistics:

The Venetian Macao:

Table games win per unit per day(1)

$        8,819

$        9,710

$        9,688

$        9,271

Slot machine win per unit per day(2)

$           446

$           305

$           464

$           336

Average number of table games

632

658

635

663

Average number of slot machines

1,396

1,651

1,426

1,667

The Londoner Macao:

Table games win per unit per day(1)

$      14,008

$      11,904

$      14,970

$      11,194

Slot machine win per unit per day(2)

$           718

$           591

$           673

$           506

Average number of table games

523

523

510

509

Average number of slot machines

1,380

1,566

1,418

1,562

The Parisian Macao:

Table games win per unit per day(1)

$        7,819

$        6,850

$        8,403

$        7,552

Slot machine win per unit per day(2)

$           370

$           273

$           369

$           278

Average number of table games

242

228

241

238

Average number of slot machines

1,291

1,412

1,285

1,352

The Plaza Macao and Four Seasons Macao:

Table games win per unit per day(1)

$      14,081

$      19,300

$      21,781

$      20,460

Slot machine win per unit per day(2)

$             —

$            92

$             —

$            99

Average number of table games

116

105

114

105

Average number of slot machines(3)

—

53

2

51

Sands Macao:

Table games win per unit per day(1)

$        6,665

$        5,435

$        6,191

$        5,774

Slot machine win per unit per day(2)

$           276

$           256

$           272

$           246

Average number of table games

121

116

133

114

Average number of slot machines

1,278

761

1,233

779

Marina Bay Sands:

Table games win per unit per day(1)

$      20,156

$      21,003

$      22,491

$      18,928

Slot machine win per unit per day(2)

$        1,086

$        1,052

$        1,050

$           992

Average number of table games

564

539

566

541

Average number of slot machines

2,945

2,959

2,964

2,979

____________________

(1)

Table games win per unit per day is shown before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis.

(2)

Slot machine win per unit per day is shown before deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis.

(3)

Slot machines were relocated to other properties during the three months ended March 31, 2026.

Exhibit 7

Las Vegas Sands Corp. and Subsidiaries

Supplemental Data

(Unaudited)

Three Months Ended

The Venetian Macao

June 30,

(Dollars in millions)

2026

2025

Change

Revenues:

Casino

$        457

$        524

$       (67)

Rooms

43

50

(7)

Food and beverage

15

15

—

Mall

62

62

—

Convention, retail and other

14

12

2

Net revenues

$        591

$        663

$       (72)

Adjusted Property EBITDA

$        165

$        236

$       (71)

EBITDA Margin %

27.9 %

35.6 %

       (7.7) pts

Gaming Statistics

(Dollars in millions)

Rolling Chip volume

$     1,028

$        859

$      169

Rolling Chip win %(1)

0.62 %

3.57 %

         (2.95) pts

Non-Rolling Chip drop

$     2,452

$     2,348

$      104

Non-Rolling Chip win %

20.4 %

23.5 %

       (3.1) pts

Slot handle

$     1,399

$     1,372

$        27

Slot hold %

4.1 %

3.3 %

      0.8 pts

Hotel Statistics

Occupancy %

98.2 %

98.6 %

       (0.4) pts

Average daily room rate (ADR)

$        197

$        195

$          2

Revenue per available room (RevPAR)

$        194

$        192

$          2

____________________

(1)

This compares to our expected Rolling Chip win percentage of 3.3% (calculated before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis).

Las Vegas Sands Corp. and Subsidiaries

Supplemental Data

(Unaudited)

Three Months Ended

The Londoner Macao

June 30,

(Dollars in millions)

2026

2025

Change

Revenues:

Casino

$        548

$        495

$        53

Rooms

100

95

5

Food and beverage

31

27

4

Mall

23

21

2

Convention, retail and other

8

4

4

Net revenues

$        710

$        642

$        68

Adjusted Property EBITDA

$        192

$        205

$       (13)

EBITDA Margin %

27.0 %

31.9 %

       (4.9) pts

Gaming Statistics

(Dollars in millions)

Rolling Chip volume

$     3,523

$     2,090

$   1,433

Rolling Chip win %(1)

3.67 %

4.09 %

         (0.42) pts

Non-Rolling Chip drop

$     2,584

$     2,196

$      388

Non-Rolling Chip win %

20.8 %

21.9 %

       (1.1) pts

Slot handle

$     2,227

$     2,114

$      113

Slot hold %

4.0 %

4.0 %

     — pts

Hotel Statistics

Occupancy %

96.7 %

93.3 %

      3.4 pts

Average daily room rate (ADR)

$        262

$        259

$          3

Revenue per available room (RevPAR)

$        254

$        242

$        12

____________________

(1)

This compares to our expected Rolling Chip win percentage of 3.3% (calculated before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis).

Las Vegas Sands Corp. and Subsidiaries

Supplemental Data

(Unaudited)

Three Months Ended

The Parisian Macao

June 30,

(Dollars in millions)

2026

2025

Change

Revenues:

Casino

$        165

$        143

$        22

Rooms

32

34

(2)

Food and beverage

14

11

3

Mall

5

5

—

Convention, retail and other

2

1

1

Net revenues

$        218

$        194

$        24

Adjusted Property EBITDA

$         38

$          44

$         (6)

EBITDA Margin %

17.4 %

22.7 %

       (5.3) pts

Gaming Statistics

(Dollars in millions)

Rolling Chip volume

$        169

$          —

$      169

Rolling Chip win %(1)

(2.26) %

— %

     — pts

Non-Rolling Chip drop

$        816

$        663

$      153

Non-Rolling Chip win %

21.6 %

21.4 %

      0.2 pts

Slot handle

$     1,302

$        872

$      430

Slot hold %

3.3 %

4.0 %

       (0.7) pts

Hotel Statistics

Occupancy %

97.4 %

99.2 %

       (1.8) pts

Average daily room rate (ADR)

$        141

$        147

$        (6)

Revenue per available room (RevPAR)

$        138

$        146

$        (8)

____________________

(1)

This compares to our expected Rolling Chip win percentage of 3.3% (calculated before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis).

Las Vegas Sands Corp. and Subsidiaries

Supplemental Data

(Unaudited)

Three Months Ended

The Plaza Macao and Four Seasons Macao

June 30,

(Dollars in millions)

2026

2025

Change

Revenues:

Casino

$         59

$        122

$       (63)

Rooms

28

28

—

Food and beverage

8

7

1

Mall

41

37

4

Convention, retail and other

1

—

1

Net revenues

$        137

$        194

$       (57)

Adjusted Property EBITDA

$         20

$         66

$       (46)

EBITDA Margin %

14.6 %

34.0 %

         (19.4) pts

Gaming Statistics

(Dollars in millions)

Rolling Chip volume

$     2,824

$     1,399

$   1,425

Rolling Chip win %(1)

(1.15) %

2.72 %

         (3.87) pts

Non-Rolling Chip drop

$        839

$        655

$      184

Non-Rolling Chip win %

21.6 %

22.3 %

       (0.7) pts

Slot handle

$          —

$         19

$       (19)

Slot hold %

— %

2.3 %

     — pts

Hotel Statistics

Occupancy %

95.1 %

92.1 %

      3.0 pts

Average daily room rate (ADR)

$        507

$        502

$          5

Revenue per available room (RevPAR)

$        482

$        462

$        20

____________________

(1)

This compares to our expected Rolling Chip win percentage of 3.3% (calculated before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis).

Las Vegas Sands Corp. and Subsidiaries

Supplemental Data

(Unaudited)

Three Months Ended

Sands Macao

June 30,

(Dollars in millions)

2026

2025

Change

Revenues:

Casino

$         88

$         63

$        25

Rooms

5

4

1

Food and beverage

2

3

(1)

Convention, retail and other

—

1

(1)

Net revenues

$         95

$         71

$        24

Adjusted Property EBITDA

$         11

$           9

$          2

EBITDA Margin %

11.6 %

12.7 %

       (1.1) pts

Gaming Statistics

(Dollars in millions)

Rolling Chip volume

$         26

$         23

$          3

Rolling Chip win %(1)

11.78 %

5.60 %

        6.18 pts

Non-Rolling Chip drop

$        497

$        389

$      108

Non-Rolling Chip win %

14.2 %

14.4 %

       (0.2) pts

Slot handle

$     1,526

$        589

$      937

Slot hold %

2.1 %

3.0 %

       (0.9) pts

Hotel Statistics

Occupancy %

99.4 %

99.4 %

     — pts

Average daily room rate (ADR)

$        162

$        176

$       (14)

Revenue per available room (RevPAR)

$        161

$        175

$       (14)

____________________

(1)

This compares to our expected Rolling Chip win percentage of 3.3% (calculated before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis).

Las Vegas Sands Corp. and Subsidiaries

Supplemental Data

(Unaudited)

Three Months Ended

Marina Bay Sands

June 30,

(Dollars in millions)

2026

2025

Change

Revenues:

Casino

$     1,024

$     1,068

$       (44)

Rooms

151

134

17

Food and beverage

98

84

14

Mall

67

62

5

Convention, retail and other

40

40

—

Net revenues

$     1,380

$     1,388

$         (8)

Adjusted Property EBITDA

$        689

$        768

$       (79)

EBITDA Margin %

49.9 %

55.3 %

       (5.4) pts

Gaming Statistics

(Dollars in millions)

Rolling Chip volume

$     9,269

$     8,945

$      324

Rolling Chip win %(1)

4.74 %

5.26 %

         (0.52) pts

Non-Rolling Chip drop

$     2,597

$     2,360

$      237

Non-Rolling Chip win %

22.9 %

23.7 %

       (0.8) pts

Slot handle

$     6,382

$     6,192

$      190

Slot hold %

4.6 %

4.6 %

     — pts

Hotel Statistics

Occupancy %

95.6 %

95.0 %

      0.6 pts

Average daily room rate (ADR)

$        982

$        888

$        94

Revenue per available room (RevPAR)

$        939

$        844

$        95

____________________

(1)

This compares to our theoretical Rolling Chip win percentage of 4.2% and 4.1% for the three months ended June 30, 2026 and 2025, respectively (calculated before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis).

Beginning with the three months ended September 30, 2025, we revised our expected hold-adjusted win percentage for Marina Bay Sands to be based on the theoretical hold percentage measured by technology-enabled gaming tables.

Las Vegas Sands Corp. and Subsidiaries

Supplemental Data - Asian Retail Mall Operations

(Unaudited)

For the Three Months Ended June 30, 2026

TTM

June 30,
2026

(Dollars in millions except per square foot data)

Gross
Revenue(1)

Operating
Profit

Operating
Profit
Margin

Gross
Leasable
Area (sq. ft.)

Occupancy
% at End
of Period

Tenant Sales
Per Sq. Ft.(2)

Shoppes at Venetian

$           62

$         55

88.7 %

829,874

89.3 %

$          2,161

Shoppes at Four Seasons

Luxury Retail

29

27

93.1 %

161,025

100.0 %

5,670

Other Stores

12

11

91.7 %

94,292

78.7 %

2,115

41

38

92.7 %

255,317

92.1 %

4,650

Shoppes at Londoner

23

19

82.6 %

518,122

75.9 %

1,886

Shoppes at Parisian

5

3

60.0 %

253,784

66.4 %

428

Total Cotai Strip in Macao

131

115

87.8 %

1,857,097

82.8 %

2,331

The Shoppes at Marina Bay Sands

67

61

91.0 %

616,028

100.0 %

3,279

Total

$         198

$       176

88.9 %

2,473,125

87.1 %

$          2,608

____________________

Note:

This table excludes the results of our retail outlets at Sands Macao.

(1)

Gross revenue figures are net of intersegment revenue eliminations.

(2)

Tenant sales per square foot reflect sales from tenants only after the tenant has been open for a period of 12 months.

SOURCE Las Vegas Sands Corp.

New York, New York--(Newsfile Corp. - July 22, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Futu Holdings Limited (NASDAQ: FUTU) between May 24, 2023 and May 27, 2026, inclusive (the "Class Period"), of the important August 25, 2026 lead plaintiff deadline.

SO WHAT: If you purchased Futu securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Futu class action, go to https://rosenlegal.com/cases/futu-holdings-limited/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 25, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made materially false and misleading statements and/or failed to disclose that: (1) Futu was not in compliance with the requirements of the China Securities Regulatory Commission (the "CSRC"), including because Futu continued to conduct securities business, public fund sales business and futures business in mainland China without obtaining the requisite licenses or approval; (2) as a result, Futu was reasonably likely to face regulatory penalties, including the disgorgement of ill-gotten gains and other penalties; (3) as a result of the foregoing, Futu's financial results were overstated; and (4) as a result of the foregoing, defendants' positive statements about Futu's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Futu class action, go to https://rosenlegal.com/cases/futu-holdings-limited/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306187

Source: The Rosen Law Firm PA

Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.

Contact Us

By You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.

Tesla said Robotaxi operates in seven US markets, with six now offering unsupervised rides. Tim Goessman/Bloomberg via Getty Images Tesla has some numbers to tout for its progress on Robotaxi.

CEO Elon Musk and other executives said during Tesla's second-quarter earnings call on Wednesday that the company continues to expand its autonomous ride-hailing platform, adding more cities and more unsupervised rides.

Since Tesla first launched Robotaxi in June 2025 with a small fleet of Model Ys and safety monitors, the rollout of the company's ride-hailing service has been slower than Musk's predictions.

The CEO said in July 2025 that Tesla could reach half the US population by the end of 2025, pending regulatory approval.

Tesla now lists seven US metropolitan regions, including two Florida cities — Orlando and Tampa — announced on the eve of the company's Q2 earnings call.

The company has yet to disclose the size of its overall fleet, number of paid rides, intervention rates, or the economics of each trip.

Musk said during the earnings call that safety is central to the constraints on Robotaxi's deployment scale.

"If we injure even one person, it will be worldwide headline news, and regulators will immediately clamp down on our activities," he said. "We're going as fast as humanly possible in scaling Robotaxi, but while trying to ensure that we do not harm anyone at all and ideally do not even run over a pet."

Here are seven numbers that demonstrate Tesla's Robotaxi progress:

1. Nearly 2.5 million total paid milesTesla said in its shareholder deck that Robotaxi had reached nearly 2.5 million cumulative paid miles by the end of the second quarter.

The figure includes trips with a safety monitor — a human supervisor who oversees the autonomous software — in the car. In the San Francisco Bay Area, a safety monitor remains behind the wheel.

2. More than 380,000 unsupervised milesAshok Elluswamy, Tesla's VP of AI, said Robotaxi has driven more than 380,000 unsupervised miles across six cities in two different states.

This is one of the more concrete figures Tesla has provided around its progress for unsupervised rides. Tesla has yet to reveal how many cars are operating without a safety monitor.

For comparison, Alphabet's Waymo has driven more than 200 million fully autonomous, rider-only miles.

3. More than 10% weekly mileage growthMusk said Robotaxi has seen a growth rate of more than 10% for miles driven per week.

Similarly, Elluswamy said unsupervised mileage has increased at "double-digit growth rates" per week since the beginning of the year.

"We expect to continue growing at such a large rate through the rest of this year," Elluswamy said.

4. Seven US metropolitan regionsTesla said Robotaxi is now active in seven US markets: Austin, Dallas, Houston, Miami, Orlando, Tampa, and the San Francisco Bay Area.

All regions except for the Bay Area are "ramping unsupervised" rides, the company said in the shareholder deck.

Tesla is also targeting Phoenix and Las Vegas, with "preparations underway."

Meanwhile, Waymo operates in 11 US regions.

5. Zero 'notable incidents' from RobotaxiElluswamy said that there have been "zero notable incidents" over the more than 380,000 unsupervised Robotaxi miles driven. He added that the known incidents involved other road users hitting stationary Teslas.

Tesla has reported crashes to federal regulators, including two low-speed crashes that occurred after Tesla's teleoperator assumed direct control of the car. Both incidents had a safety monitor behind the wheel.

Elluswamy said the progress was a "huge validation of Tesla's entire AI approach."

6. More than 125,000 Cybercabs in manufacturing capacityTesla said it installed an annual manufacturing capacity of more than 125,000 Cybercabs — the company's purpose-built robotaxi — at Gigafactory Texas. Production began during the second quarter.

For comparison, Zoox, Amazon's robotaxi venture, says its factory in Hayward, California can assemble more than 10,000 purpose-built robotaxis a year once it operates at full scale. Waymo has said that its Arizona plant can build "tens of thousands" of robotaxis at full buildout.

Tesla's number does not represent the current production rate, which was not disclosed.

Musk said the Cybercab needs to accumulate more driving data specific to its chassis before the company can put more on the road.

Employees have started taking autonomous rides in the car at Gigafactory, Tesla said.

7. Nearly 1.5 million paid FSD customersTesla reported 1.48 million paying customers of Full Self-Driving, the automaker's advanced driver-assistance system. That represents a 56% year-over-year increase.

While FSD for personally owned vehicles requires constant human supervision, one of Tesla's long-standing promises is that the tech will no longer require driver monitoring.

Read next

Lloyd Lee You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.

Tesla