, /PRNewswire/ -- Whirlpool Corporation (NYSE: WHR) announced today that it has rescheduled the release of its second-quarter financial results and corresponding conference call.
The financial results and presentation materials will now be released at 4:05 p.m. ET on Monday, August 3, 2026. Whirlpool Corporation will hold a conference call to discuss its performance with the investment community at 8 a.m. ET on Tuesday, August 4, 2026. The schedule has been adjusted to accommodate Marc Bitzer, Chairman and Chief Executive Officer, who is recovering at home from a minor bicycle accident and expected to return to the office by August 3.
To participate in the conference call, dial 1 (888) 440-4038 and Conference ID 2610251. International participants should dial 1 (646) 960-0861 and Conference ID 2610251. Participants should dial in at least 10 minutes prior to the call, as they may experience longer than usual wait times.
The conference call will be webcast live on the Company's website at investors.whirlpoolcorp.com and may be accessed by clicking on the "News & Events" tab located at the top of the page, and by clicking on "Events & Presentations". To listen to the live webcast, participants should visit the site at least 15 minutes prior to the conference call to download any required streaming media software. Key financial statistics, the earnings presentation, and an archived recording of the conference call will be available on the Company's website for at least 30 days.
About Whirlpool Corporation
Whirlpool Corporation (NYSE: WHR) is a leading home appliance company, in constant pursuit of improving life at home. As the only major U.S.-based manufacturer of kitchen and laundry appliances, the company is driving meaningful innovation to meet the evolving needs of consumers through its iconic brand portfolio, including Whirlpool, KitchenAid, JennAir, Maytag, Amana, Brastemp, Consul, and InSinkErator. In 2025, the company reported approximately $16 billion in annual net sales - close to 90% of which were in the Americas - 41,000 employees, and 35 manufacturing and technology research centers. Additional information about the company can be found at WhirlpoolCorp.com.
Website Disclosure
We routinely post important information for investors on our website, WhirlpoolCorp.com, in the "Investors" section. We also intend to update the Hot Topics Q&A portion of this webpage as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investors section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our webpage is not incorporated by reference into, and is not a part of, this document.
MarketBeat Week in Review – 04/27 - 05/01MaxLinear NASDAQ: MXL reported a sharp increase in second-quarter 2026 revenue and returned to GAAP profitability, as executives said demand for the company’s data center optical products is driving a new growth phase.
On the company’s earnings call, Chief Executive Officer Kishore Seendripu said MaxLinear’s overall revenue grew 55% year over year, reflecting “strong execution” and accelerating adoption of its newest data center products. He said infrastructure has become MaxLinear’s largest revenue category, with revenue in that segment rising 145% year over year, driven by production ramps in optical platforms for data centers.
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MaxLinear’s Explosive 200% Rally Looks Impressive—But Can It Last?“Our Q2 financial results highlight the exciting inflection in our business trajectory and the beginning of a multiyear growth phase for MaxLinear,” Seendripu said.
Revenue rises 55%, infrastructure becomes largest category Chief Financial Officer and Chief Corporate Strategy Officer Steve Litchfield said total revenue for the second quarter was $168.8 million, up 23% from $137.2 million in the prior quarter and up 55% from $108.8 million in the second quarter of 2025.
Silicon Motion: The Market's Best Merger Arbitrage OpportunityBy end market, Litchfield said second-quarter revenue was approximately:
Infrastructure: $85 million Broadband: $45 million Connectivity: $24 million Industrial and multi-market: $15 million GAAP gross margin was 57.8%, while non-GAAP gross margin was 59.5%. Litchfield said the difference between GAAP and non-GAAP gross margin was primarily due to $2.5 million of acquisition-related intangible asset amortization.
GAAP operating expenses were $101.8 million, compared with non-GAAP operating expenses of $62.8 million. The difference was primarily tied to stock-based compensation and performance-based equity accruals totaling $36.5 million, along with $2.2 million in acquisition-related and other costs.
MaxLinear reported GAAP earnings per share of $0.02 for the quarter, which Litchfield said marked a return to GAAP profitability. Non-GAAP earnings per share were $0.35. Operating cash flow was approximately $4.8 million, and the company ended the quarter with about $93.7 million in cash equivalents and restricted cash.
Optical data center outlook raised again Seendripu said MaxLinear is raising its expectations for 2026 optical data center revenue to a range of $210 million to $230 million, citing customer orders and stronger visibility into program ramps. He said run rates are expected to expand into 2027.
The company’s Keystone product, a 100 gigabit-per-lane, five-nanometer CMOS PAM4 DSP and SerDes technology, is ramping into high-volume production at major hyperscale customers in the U.S. and Asia for 400G and 800G deployments, Seendripu said. He said Keystone delivers “almost 40% lower consumption in power than competition” and is serving as the foundation for future customer engagements involving 1.6 terabit and 3.2 terabit architectures.
During the question-and-answer session, Seendripu said the company began the year with revenue more concentrated in 400G, but the current growth is being driven by 800G PAM4 products. He said 800G is expected to become a substantially larger portion of run-rate revenue going forward.
Asked whether the increase in the 2026 optical outlook was tied entirely to Keystone, Seendripu told Cody Acree of The Benchmark Company that it was “all driven by Keystone product family” and did not include 2026 revenue from Washington or Annapurna.
Next-generation products expected to contribute in 2027 Seendripu highlighted several products intended to extend MaxLinear’s data center portfolio. Rushmore, the company’s 1.6 terabit optical PAM4 DSP at 200 gigabit-per-lane speeds, is expected to become an important optical connectivity growth driver beginning in 2027, he said.
Washington, a standalone 200 gigabit-per-lane TIA platform, can be paired with Rushmore or deployed in LPO and NPO implementations that do not require a DSP. Annapurna, a 200 gigabit-per-lane Ethernet retimer platform, is aimed at 1.6 terabit active electrical cable and onboard retimer requirements for AI systems.
Seendripu said Rushmore, Washington and Annapurna are sampling and in customer qualification and design processes. He said the company expects revenue to begin in 2027, with one or two opportunities potentially starting in the second half of that year and layering into 2028 and 2029.
Beyond optical, Seendripu said MaxLinear’s first XGS-PON hyperscaler design win for dedicated data center control plane architectures has completed qualification for a 2027 ramp. He also said the company has secured USB bridge controller design wins at two major hyperscalers for AI rack management.
Broadband and connectivity grow; industrial recovery continues Seendripu said broadband and connectivity revenue both increased in the second quarter, supported by large-scale deployments of single-chip fiber PON and Wi-Fi 7 gateway platforms at major Tier 1 service providers in North America and Europe. He said MaxLinear is also in the early stages of Ultra DOCSIS 3.1 and 4.0 deployments, which are expected to provide additional stability as ramps progress through 2027 and 2028.
In response to a question from Wells Fargo analyst Joe Quattrocchi, Litchfield said there had not been significant changes in broadband demand trends. He said MaxLinear has been gaining share in PON programs and that telco capital spending remains “good.”
On the industrial and multi-market business, Litchfield told Karl Ackerman of BNP Paribas that the segment has been recovering after a weak prior year. He said the company is seeing year-over-year improvement and expects pricing, including in China, as well as new products to contribute to growth.
Third-quarter guidance points to further growth For the third quarter of 2026, MaxLinear expects revenue of $210 million to $220 million. Litchfield said the company expects growth across all four business segments, with particular strength in infrastructure from data center optical interconnects.
The company guided for GAAP gross margin of approximately 57% to 60% and non-GAAP gross margin of 58.5% to 61.5%. GAAP operating expenses are expected to be $98 million to $104 million, while non-GAAP operating expenses are expected to be $66 million to $71 million.
Litchfield said infrastructure products historically have carried gross margins above the corporate average, helping support the outlook. He also noted cost increases in wafers, packaging and testing, saying the company is being cautious but sees continued margin improvement potential.
Asked about longer-term profitability, Litchfield said MaxLinear’s target has not changed and that the company’s long-term goal is to reach operating margins of 30% to 35%. He said the business is “headed in that direction,” though he declined to guide beyond the current quarter.
Litchfield said visibility is strong across most of MaxLinear’s businesses, extending to about six months, supported by backlog and demand. The company has also made wafer prepayments to secure supply for rising data center product demand, which executives said is backed by customer orders extending into the second half of 2026 and 2027.
About MaxLinear (NASDAQ:MXL)MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company's product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.
MaxLinear's semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries.
"Physical AI" is coming to the United States, and there are four ways that investors can gain exposure to this new robotics revolution. Plus, learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.
GOLETA, Calif.--(BUSINESS WIRE)--Deckers Brands (NYSE: DECK), a global leader in designing, marketing, and distributing innovative footwear, apparel, and accessories, today announced financial results for the first fiscal quarter ended June 30, 2026. The Company also provided an update to its financial outlook for the full fiscal year ending March 31, 2027. “Deckers delivered a solid start to the fiscal year, surpassing $1 billion of first quarter revenue for the first time,” said Stefano Carot.
DECK stock is moving. Watch the price action here. Deckers Q1 Details Deckers Outdoor reported quarterly earnings of 94 cents per share, which beat the analyst consensus estimate of 87 cents by 8.05%, according to Benzinga Pro data.
Quarterly revenue came in at $1.02 billion, which beat the analyst consensus estimate of $1.018 billion.
Deckers reported the following first-quarter details:
“Deckers delivered a solid start to the fiscal year, surpassing $1 billion of first quarter revenue for the first time,” said CEO Stefano Caroti.
“This performance reflects the continued strength of HOKA and UGG, with growing global demand as both brands extend their reach through compelling product innovation,” Caroti added.
DECK Stock Price Activity: According to data from Benzinga Pro, Deckers stock was down 2.85% to $93.49 in Thursday’s extended trading.
Photo: Shutterstock
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SWINDON, United Kingdom--(BUSINESS WIRE)--Sensata Technologies (NYSE: ST) today announced that its Board of Directors approved a quarterly dividend in the amount of $0.12 per share. The Company will pay this third quarter 2026 dividend on August 26, 2026, to shareholders of record as of August 12, 2026. About Sensata Technologies Sensata Technologies is a global industrial technology company striving to create a safer, cleaner, more efficient and electrified world. Through its broad portfolio o.
JACKSONVILLE, Fla., July 23, 2026 (GLOBE NEWSWIRE) -- Landstar System, Inc. (NASDAQ: LSTR), a technology-enabled, asset-light provider of integrated transportation management solutions delivering safe, specialized transportation services, today announced the appointment of William “Bill” Clement as Vice President and Chief Commercial Officer (CCO), effective August 1, 2026.
Glacier Bancorp, Inc. reports second quarter 2026 results, including quotes from Randy Chesler, President and CEO, and Ron Copher, Chief Financial Officer.
STUART, Fla.--(BUSINESS WIRE)--Seacoast Banking Corporation of Florida (“Seacoast”) (NASDAQ: SBCF) announced that on July 23, 2026, its Board of Directors declared a quarterly cash dividend of $0.19 per common share, and a quarterly cash dividend of $0.19 per 1/1000th share of Seacoast's Series A Non-Voting Preferred Stock. The common stock and preferred stock dividends are payable on September 30, 2026 to shareholders of record at the close of business on September 15, 2026. About Seacoast Ban.
LOS ANGELES--(BUSINESS WIRE)--Korn Ferry (NYSE: KFY), a global organizational consulting firm, has been recognized by Forbes Magazine as Canada's best executive recruiter. The firm was also honored as a leading professional search firm in Canada. "Organizations need more than executives who simply adapt to change—they need leaders who create the conditions for people and organizations to thrive," said Gary D. Burnison, CEO of Korn Ferry. "We're pleased to be recognized by Forbes as Canada's bes.
Archer Aviation (ACHR -0.87%) is an ambitious developer of electric vertical takeoff and landing (eVTOL) aircraft, also known as "flying taxis." Its flagship eVTOL craft -- Midnight -- is like a cross between a drone and a helicopter, and it could one day carry up to four passengers over traffic.
Archer has yet to certify its eVTOLs, and its stock value is a reflection of that: After flirting with a double-digit value last October, Archer's stock now trades at about $5 a share. With a market cap of $4 billion, could this be an opportunity to set you up for life, or is it a high-flying trap concealing enormous risk?
Image source: Archer Aviation.
The bull case for Archer is growing stronger -- but so is the bear The bull case for Archer rests on the fact that it no longer relies on a single narrative. Yes, it is still building -- or, rather, attempting to certify -- eVTOLs for urban mobility. But in addition to these pedestrian aims, it is also co-developing an autonomous VTOL aircraft platform with the defense company Anduril, which could open a revenue stream much sooner than passenger flights would.
Let's break the deal down. The announcement, which broke on July 20, showcased a new autonomous defense aircraft, "Thunder," which can bolster crewed aircraft to multiply combat power. Better yet, the VTOL aircraft could move forward without the same FAA certification requirements as the "civilian" Midnight. It will still require extensive testing and airworthiness approval, but its path to deployment could be faster than Midnight's.
Still, even with expanded military customers, Archer can't ignore a gaping hole in its young business: Midnight still lacks FAA type certification.
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Timelines for acquiring this required certification have slipped several times, and Archer now says it is aiming to certify its air taxis by the 2028 Olympics in Los Angeles. Given that Archer was also named the official air taxi provider for the Olympics, it will be quite the magic trick if it manages to manufacture and deliver a sufficient number of aircraft to service the Olympics in the same year it receives certification.
Archer is, of course, participating in a White House-backed program that aims to accelerate the deployment of eVTOLs in American cities in these "pre-certification" times. Whether this will actually fast-track the adoption of eVTOLs -- or lay the groundwork for infrastructure -- remains to be seen, but Archer, which has produced only a handful of Midnights to date, will certainly need to kick production into high gear regardless.
Could Archer set you up for life, or leave you empty-handed? If Archer and Anduril land a major commercial client in the upcoming weeks, with meaningful revenue attached, this stock could soar.
But don't confuse potential demand with a proven business model. Archer is still burning cash, Midnight is uncertified, and large-scale manufacturing of aircraft hasn't been shown. Even a major contract could take years to materialize in bottom- and top-line growth.
For now, I would continue to treat Archer as a speculative stock. The upside could be life-changing, but with so many pieces unproven, this is a stock for risk-tolerant investors who can afford to be patient -- or wrong.
WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of GoDaddy Inc. (NYSE: GDDY) resulting from allegations that GoDaddy may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased GoDaddy securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/cases/godaddy-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.
WHAT IS THIS ABOUT: Rosen Law Firm is investigating potential civil securities claims.
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 litigate securities class actions. 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.
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Harley Pivots Hard: Can New Bikes Fix an Old Brand?Harley-Davidson NYSE: HOG raised portions of its 2026 outlook after reporting second-quarter results that management said showed early progress under its “Back to the Bricks” strategic plan, including growth in North American retail motorcycle sales and improved dealer inventory health.
Chief Executive Officer Artie Starrs said 2026 remains a transition year for the company as it works to reset the business, rebuild dealer confidence and improve execution. “We are still early in the work, but the business is moving in the right direction,” Starrs said on the company’s earnings call.
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MarketBeat Week in Review – 04/20 - 04/24Chief Financial and Commercial Officer Jonathan Root said Harley-Davidson Motor Company, or HDMC, generated second-quarter revenue of $1.1 billion, up 6% from the prior year. Motorcycle revenue was $848 million, while parts and accessories revenue was $177 million, down from $187 million a year earlier. Apparel and licensing revenue was $62 million, compared with $61 million in the prior-year period.
HDMC operating income was $72 million, compared with $61 million a year earlier, and operating margin improved to 6.6% from 5.9%. Root said the quarter included $3 million of restructuring expense tied to the company’s new strategy. Excluding that restructuring expense, HDMC operating income would have been $75 million, with an operating margin of 6.8%.
Harley-Davidson Rallies 38%, But Analysts See Downside AheadAt the consolidated Harley-Davidson Inc. level, second-quarter revenue declined 6%, driven primarily by a 55% revenue decline at Harley-Davidson Financial Services as the segment transitioned to a capital-light model. Consolidated operating income was $76 million, down from $112 million in the year-ago quarter. Earnings per share were $0.75, compared with $0.88 in the second quarter of 2025.
North American Retail Growth Continues Root said North American retail sales of new motorcycles rose 3% in the quarter, with approximately 30,000 motorcycles sold. Starrs noted that marked the third consecutive year-over-year quarter of retail growth in North America.
Root said the region benefited from continued strength in redesigned trike models, as well as positive results across the portfolio, particularly sport and adventure touring families. Harley-Davidson reached 32% share of the U.S. 601cc-plus market, according to Root.
Globally, retail sales of new motorcycles rose 1% year over year to approximately 42,500 units. Outside North America, retail sales declined 5% to about 13,000 units. EMEA remained the weakest region, with retail sales down 9% in the second quarter. Root said performance in Europe reflected a subdued economic environment, though touring, sport and trike categories posted positive results. Asia Pacific retail sales were up slightly, while Latin America rose 4%, marking its fourth consecutive quarter of year-over-year growth.
Starrs said Europe remains a challenging market and that Harley-Davidson is making portfolio adjustments. He cited the planned return of the Sportster 883 in 2027 as an example, saying European dealers are “particularly excited” about the model.
Dealer Inventory Health Improves Management emphasized dealer inventory as a central priority. Root said global dealer inventory at the end of the second quarter was down 17% from a year earlier and down 7% from the end of the first quarter. North American dealer inventory was down 15%, while inventory outside North America was down 24%.
Starrs said more than 85% of dealer inventory was model year 2026 product at quarter end, describing it as the healthiest global dealer inventory position in years. Root said North America also had 85% current model year motorcycles in dealer inventory, compared with less than 75% in the prior-year period.
Starrs said the company expects domestic dealer profitability to double in 2026. In response to an analyst question, he said used Harley-Davidson residual values are “extremely strong” and that improving MSRP realization on new motorcycles is also supporting dealer profitability.
“Today, the vast majority believe it’s either just right or they’re asking for more bikes,” Starrs said of dealer inventory levels, contrasting that with the fourth quarter, when he said nearly every dealer was concerned about having too much inventory.
New Models and Parts Focus Support Strategy Starrs highlighted recent launches of the Super Glide and Deadwood models, describing them as “blank canvas motorcycles” aligned with the Back to the Bricks strategy. He said Super Glide sell-through has been strong, dealer enthusiasm has been high and MSRP realization is among the strongest the company has seen “in some time.” Deadwood motorcycles were reaching U.S. dealerships at the time of the call, and Starrs said early reactions from motorcycle media and riders on social media had been “overwhelmingly positive.”
The company is also working to rebuild its parts and accessories business. Starrs said Harley-Davidson has appointed a general manager for the business, identified near-term accessory categories and is preparing for a model year 2027 parts and accessories launch alongside its motorcycle launch. He said parts and accessories are tracking ahead of the company’s beginning-of-year plans.
Guidance Raised for HDMC and HDFS Harley-Davidson raised its 2026 guidance for HDMC retail and wholesale units to a range of 133,500 to 138,500, up from the prior range of 130,000 to 135,000. Root said the company expects retail and wholesale units to maintain a largely one-to-one relationship for the rest of the year because global dealer inventory levels are healthy.
The company now expects HDMC operating income of $10 million to $50 million, compared with prior guidance ranging from positive $10 million to a loss of $40 million. HDFS operating income guidance was raised to $55 million to $70 million, from $45 million to $60 million. LiveWire guidance was unchanged, with an expected operating loss of $70 million to $80 million.
Starrs also reiterated that Harley-Davidson believes it is on track for $150 million of fixed cost savings in 2027 and the HDMC EBITDA target of more than $350 million referenced on the prior call.
Tariffs and HDFS Transition Remain Key Factors Root said Harley-Davidson continues to expect the cost of new or increased tariffs to be in the range of $75 million to $90 million for 2026, unchanged from the prior outlook. In the second quarter, the company incurred $22 million in tariff expense before recoveries and benefited from tariff recoveries primarily related to IEEPA. Root said Harley-Davidson is not planning for additional meaningful tariff recoveries for the balance of 2026.
Starrs said tariff uncertainty remains an ongoing factor and noted the company’s recent announcement to move Rev Max production for North American motorcycles back to the United States.
At HDFS, second-quarter revenue fell to $117 million due to lower interest income following the sale of loan assets as part of a transaction completed last year. HDFS operating income was $22 million, with an operating margin of 18.5%. Root said annualized retail credit losses on managed loans were 3.0%, compared with 3.3% in the year-ago period, while total retail loan originations rose 10% to $940 million.
Harley-Davidson ended the quarter with $1.9 billion in cash equivalents, up from $1.6 billion a year earlier. Root said the company repurchased 1.3 million shares for $30 million during the second quarter and 7.9 million shares for $158 million during the first half of 2026, adding that returning capital to shareholders remains a top priority.
About Harley-Davidson (NYSE:HOG)Harley-Davidson, Inc is a renowned American motorcycle manufacturer best known for its heavyweight cruiser and touring bikes. Founded in 1903 in Milwaukee, Wisconsin, the company has built a strong reputation for producing distinctive motorcycles characterized by their signature V-twin engines, chrome finishes and robust frames. Harley-Davidson markets its products globally through a network of franchised dealerships and focuses on delivering an immersive brand experience to its customers, emphasizing lifestyle and community alongside its motorcycles.
In addition to its core motorcycle business, Harley-Davidson offers an extensive range of parts, accessories and apparel under its Genuine Motor Parts & Accessories and MotorClothes lines.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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ST. GEORGE, Utah--(BUSINESS WIRE)--SkyWest, Inc. (NASDAQ: SKYW) (“SkyWest”) today reported financial and operating results for Q2 2026, including net income of $101 million, or $2.54 per diluted share, compared to net income of $120 million, or $2.91 per diluted share, for Q2 2025. The Q2 2026 financial results were negatively impacted by higher fuel cost per gallon in SkyWest's prorate business compared to Q2 2025. Commenting on the results, Chip Childs, President and Chief Executive Officer o.
Does Delta's Descent To Its 50-Day Line Offer A Buy Opportunity? SkyWest NASDAQ: SKYW reported second-quarter 2026 net income of $101 million, or $2.54 per diluted share, as stronger flying demand helped offset higher fuel costs in its prorate business, executives said on the company’s earnings call.
President and Chief Executive Officer Chip Childs said the quarter reflected increased block hours and “very strong demand both in our contract and pro-rate flying despite a higher fuel cost.” He said demand allowed the company to offset about 60% of the fuel impact in the fare portion of its prorate business.
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During the quarter, SkyWest operated nearly 228,000 flights and delivered a 99.9% adjusted completion rate, Childs said. Executives also emphasized the company’s fleet growth plans, including a new agreement with American Airlines for 11 Embraer E175 aircraft, and a $250 million increase to SkyWest’s existing stock repurchase authorization.
Revenue rises as block hours increase Chief Financial Officer Robert Simmons said SkyWest generated second-quarter GAAP pre-tax income of $139 million, up 29% from the first quarter. Total revenue was $1.1 billion, up 9% from the first quarter of 2026 and up 7% from the second quarter of 2025.
Second-quarter revenue included $864 million of contract revenue, $201 million of prorate and charter revenue, and $38 million of leasing and other revenue. Simmons said the results included $27 million of previously deferred revenue recognized during the quarter. SkyWest ended the quarter with $214 million of cumulative deferred revenue to be recognized in future periods.
Fuel costs were a major headwind for the prorate business. Simmons said prorate fuel expense was $61 million in the second quarter, compared with $28 million in the year-earlier period. The $33 million increase reflected both higher fuel prices and increased prorate production. SkyWest’s prorate fuel price was $4.45 per gallon in the second quarter, up from $2.88 in the second quarter of 2025 and $3.40 in the first quarter of 2026.
For the full year, Simmons said SkyWest expects block hour production to rise approximately 5% from 2025. The company anticipates GAAP earnings per share “in the $11 area” for 2026, subject to continued prorate fuel volatility. That outlook assumes an average jet fuel price of $3.65 per gallon for the second half of 2026 and 28 million gallons needed for the prorate business during that period.
American deal adds to E175 growth plan SkyWest announced an agreement with American Airlines for 11 new E175s, with deliveries scheduled in 2026 and 2027. Wade Steel, president and chief operating officer of SkyWest Airlines, said the aircraft are expected to replace 11 CRJ700s currently flown under contract with American.
Steel said SkyWest expects to place those CRJ700s with one of its major partners through prorate agreements, capacity purchase agreements or traditional leases. He added that some could potentially be converted to CRJ550s for partners.
SkyWest is scheduled to purchase the 11 E175s from Embraer. Four of the American aircraft are expected near the end of the fourth quarter of 2026, while the remaining seven are heavily weighted toward the first half of 2027, Steel said during the question-and-answer session.
The company currently has 67 future E175s on firm order with Embraer, including 16 for Delta, 11 for American and seven for United. Steel said 34 of those aircraft are allocated to major partners, while 33 are not yet assigned. He said the order locks in delivery slots from 2027 through 2032, but includes flexibility to defer or terminate aircraft if SkyWest does not arrange for a partner to take them.
With the American agreement, SkyWest’s E175 fleet is scheduled to reach 300 aircraft by the end of 2027, continuing its position as the largest E175 operator in the world, Steel said.
CRJ conversions and prorate flying remain priorities Executives highlighted ongoing efforts to transition toward an all dual-class fleet. Steel said SkyWest is preparing to deploy the CRJ450 for United later this year and expects to convert four to six aircraft per month beginning this fall. The company expects to have 40 CRJ450s under contract with United and sees the opportunity potentially reaching 100 aircraft.
SkyWest also continues to convert CRJ700s into CRJ550s. Steel said 36 CRJ550s were in service as of June 30, with the remaining 14 under a 50-aircraft United agreement expected to enter service this year.
In prorate flying, Steel said demand remains “extremely strong,” supported by community engagement. SkyWest added 10 aircraft to prorate agreements during the quarter and is continuing to evaluate opportunities to restore service to underserved communities. The company is also operating eight aircraft under a reinitiated prorate agreement with American, with up to nine expected by year-end.
Childs said the company continues to see strong demand even as seasonal trends point to some fall moderation. He also said the shift toward an all dual-class fleet should support the company’s long-term prorate strategy.
Balance sheet, buybacks and capital spending SkyWest ended the quarter with $601 million in cash, down slightly from $627 million in the prior quarter. Simmons said the ending cash balance reflected $122 million of debt repayments, $24 million of new debt financing for fleet deliveries, $139 million in capital expenditures, and $75 million of share repurchases.
The company repurchased 833,000 shares during the second quarter and had $63 million remaining under its existing authorization as of June 30. Simmons said the board approved an additional $250 million for share repurchases.
Simmons said SkyWest generated more than $460 million of EBITDA in the first half of 2026, despite the fuel cost headwind. Since the end of 2025, the company reduced total debt by approximately $100 million, invested more than $240 million in fleet-related capital expenditures and repurchased $150 million of shares.
For 2026, SkyWest expects approximately $700 million of capital expenditures. Simmons said about half of that amount relates to new E175 deliveries. The company expects to finance 11 new E175s this year, but still expects debt to trend lower over the next several years.
Executives said the company plans to continue allocating free cash flow across fleet investment, debt reduction and opportunistic share repurchases. Simmons said SkyWest expects to have more than 100 unencumbered E175s by the end of 2029.
Analysts focus on fuel, fleet placement and 2027 growth During the question-and-answer portion of the call, analysts asked about the impact of fuel volatility on the prorate business. Childs said the company is in a “more stable position” than earlier in the year and continues to have constructive conversations with partners.
Analysts also pressed for details on the placement of aircraft returning from American and from third-party leases. Steel said SkyWest is in discussions with major partners about placing the aircraft in contract, prorate or leasing arrangements. He described contract economics as consistent with existing agreements, while leasing can have higher margin attributes and prorate margins remain more variable.
Asked about 2027 block hour growth, Steel said the company is still finalizing its plans and expects to provide more detail next quarter.
About SkyWest (NASDAQ:SKYW)SkyWest, Inc NASDAQ: SKYW is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.
Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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CENTER VALLEY, Pa.--(BUSINESS WIRE)--Shift4 (NYSE: FOUR) today announced the date for the release of its second quarter 2026 financial results. Q2 2026 Earnings Conference Call Shift4 will release its second quarter 2026 financial results pre-market open on Thursday, August 6, 2026. Management will also host a conference call at 8:30am ET to review these results. Conference Call Details Toll-free dial-in: +1-800-343-5172 Toll dial-in: +1-203-518-9856 Conference ID: FOUR2Q26 Th.
PITTSBURGH, July 23, 2026 (GLOBE NEWSWIRE) -- Krystal Biotech, Inc. (the “Company”) (NASDAQ: KRYS) announced today that it will report its second quarter 2026 financial results on Monday, August 3, 2026, prior to the open of U.S. markets.
BELLEVUE, Wash.--(BUSINESS WIRE)--Savers Value Village, Inc. (the “Company”) today announced that it plans to report its second quarter financial results on August 6, 2026 after market close. On the same day, the Company will host a conference call at 4:30 p.m. ET to discuss its financial results. Investors and analysts who wish to participate in the call are invited to dial +1 833 461 5787 (international callers, please dial +1 585 542 9983) approximately 10 minutes prior to the start of the c.
Chief Operating Officer & Chief Financial Officer Noel Bertram Watson reported a sale of 51,545 shares of LegalZoom.com, Inc. (LZ -0.42%) on July 9, 2026, according to an SEC Form 4 filing.
Transaction summaryMetricValueTransaction value~$372,000Shares sold51,545Post-transaction shares (directly held)1,990,302Post-transaction value~$14.4 millionTransaction value based on SEC Form 4 weighted average sale price ($7.21); post-transaction value based on July 9, 2026 market close ($7.21).
Key questionsWhat precipitated this transaction?
The disposition was triggered by the vesting of restricted stock units (RSUs), where shares were withheld to satisfy mandatory tax obligations. This is a non-discretionary event and does not reflect a change in the insider's investment thesis regarding the company.How does this impact Noel Watson's remaining equity position?
Following this tax-related sale, the COO & CFO continues to hold 1,990,302 shares directly. This holding represents approximately 1% of the total shares outstanding as of the latest filing.What is the current market valuation of the remaining direct holdings?
At the July 10, 2026 market close of $7.25, the insider's direct position was valued at approximately ~$14.4 million. The stock has experienced a -20% return over the 12-month period as of the July 9, 2026 transaction date.Company OverviewMetricValueShare Price (as of market close 2026-07-10)$7.25Market Capitalization$1.2 billionRevenue (TTM)$779.7 millionNet Income (TTM)$11.4 millionCompany SnapshotLegalZoom.com provides a comprehensive digital platform delivering legal and regulatory services to individuals and small businesses across the United States, with offerings spanning business formation, estate planning, intellectual property protection, and legal document preparation.The company operates a software-as-a-service business model that generates revenue through subscription services, document preparation fees, and professional legal services, enabling customers to access legal solutions at a lower cost than traditional law firms.LegalZoom.com primarily serves small business owners, entrepreneurs, and individual consumers seeking affordable legal services, with a particular focus on underserved market segments that lack access to traditional legal counsel.LegalZoom.com operates as a leading digital legal services platform with a market capitalization of $1.2 billion, serving as a technology-enabled alternative to traditional legal service providers. The company's scalable, web-based platform leverages technology to democratize access to legal services while maintaining profitability, with TTM net income of $11.4 million.
LegalZoom.com's competitive advantage derives from its efficient digital delivery model, brand recognition in the legal technology space, and ability to serve price-sensitive customers through automated document preparation and streamlined legal processes.
What this transaction means for investorsThe July 9 sale of LegalZoom stock by COO and CFO Noel Watson is not a cause for investor concern. The disposition of 51,545 shares was necessary to fulfill tax withholding obligations in connection with the vesting of RSUs. Watson’s nearly two million directly-held shares suggests he maintains a positive outlook on LegalZoom shares.
This is despite the stock falling to a 52-week low of $5.22 in June with shares remaining well below the high of $12.40 as of July 23. LegalZoom stock isn’t doing well due to Wall Street’s fears that artificial intelligence will eat into its business.
However, the company reported 13% year-over-year growth in sales to $206.8 million for the first quarter. In addition, it raised 2026 full-year revenue guidance to a range between $810 million to $830 million, representing an increase from 2025’s $756 million.
LegalZoom is also leaning into its network of independent attorneys to help customers with legal concerns rather than relying on automation such as AI. This is a key strength given the complexities of laws and regulations.
Robert Izquierdo has positions in LegalZoom.com. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Cleveland-Cliffs (CLF +15.98%), an integrated flat-rolled steel and iron ore producer, closed at $10.96, up 15.98%. Quarterly results and upbeat guidance drove the gain; investors are watching second-half earnings and third-quarter adjusted EBITDA.
Trading volume reached 64.1 million shares, coming in about 223% above its three-month average of 19.8 million shares.
How the markets moved todayThe S&P 500 (^GSPC -1.21%) fell 1.21% to 7,408, and the Nasdaq Composite (^IXIC -2.15%) fell 2.15% to 25,138. Among other domestic flat-rolled steel manufacturing names, Nucor (NUE +2.23%) closed at $241.15, up 2.23%, while Steel Dynamics (STLD +0.81%) closed at $240.57, up 0.81%, highlighting firmer trading in domestic steel peers.
What this means for investorsCleveland-Cliffs confirmed today that the domestic steel market is thriving. Revenue improved both sequentially and year over year as steel pricing and demand remain strong.
Cliffs saw free cash flow turn positive with adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) jumping from $95 million in Q1 to $286 million in Q2. Management expects it to approximately double to $575 million in the third quarter.
The company isn’t alone in seeing strength in the sector. Last week, Steel Dynamics posted strong Q2 profit and record shipments, reinforcing domestic pricing strength. Sector leader Nucor will announce its second-quarter results next week. Investors can likely expect more of the same.
Howard Smith has positions in Nucor and has the following options: short August 2026 $230 calls on Nucor, short September 2026 $195 calls on Nucor, and short September 2026 $200 calls on Nucor. The Motley Fool recommends Steel Dynamics. The Motley Fool has a disclosure policy.
The choice between Alerian MLP ETF (AMLP +0.20%) and First Trust North American Energy Infrastructure Fund (EMLP +0.45%) likely hinges on whether an investor prioritizes concentrated midstream exposure and high yield or a diversified utilities-heavy infrastructure mix.
Energy infrastructure assets—ranging from natural gas pipelines to electric transmission lines—serve as the "toll roads" of the economy, often providing steady cash flows that appeal to income-seeking investors. Both funds target this critical sector but approach the asset class with different philosophies, leading to distinct risk-return profiles.
Snapshot (cost & size)MetricEMLPAMLPIssuerFirst TrustALPS FundsShare price$44.64 (as of 2026-07-22)$54.82 (as of 2026-07-22)Expense ratio0.95%1.01%1-yr return (as of 2026-07-15)22.34%22.15%Dividend yield2.79%7.76%Beta0.560.51AUM$4.1 billion$12.5 billionBeta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The 1-yr return represents total return over the trailing 12 months. Dividend yield is the trailing-12-month distribution yield as of the close of trading on July 22.
AMLP is slightly more expensive with a 1.01% expense ratio compared to 0.95% for EMLP. However, the Alerian fund offers a significantly higher payout, with a yield gap of nearly five percentage points over the First Trust fund.
Performance & risk comparisonMetricEMLPAMLPMax drawdown (5 yr)(14.60%)(20.90%)Growth of $1,000 over 5 years (total return)$2,149$2,357What's insideAlerian MLP ETF concentrates on the energy sector, which accounts for all of its portfolio, split 96% in energy stocks and 2% in utilities. Its largest positions include Sunoco LP (SUN -1.79%) at 13.6%, Energy Transfer LP (ET +0.24%) at 13.3%, and MPLX MP (MPLX +1.59%) at 13%. It holds 14 positions, plus some cash. Launched in 201, the fund has paid $4.02 per share over the trailing 12 months, which on its recent $54.82 share price works out to a 7.76% yield.
First Trust North American Energy Infrastructure Fund provides broader exposure, with 47% in utilities and 47% in energy, plus 5% in industrials. Its largest positions include Energy Transfer LP at 7.3%, Enterprise Products Partners L.P. (EPD -0.17%) at 7%, and Treasury bills through an institutional account with Morgan Stanley (MS -1.46%), essentially a cash position. It holds 65 positions. Launched in 2012, the fund has paid ~$1.21 per share over the trailing 12 months, which on its recent $44.64 share price works out to a 2.79% yield. It also employs an ESG screen as part of its investment process.
Which fund is the better buy?MLPs — master limited partnerships — are a common structure for midstream oil and gas businesses. The structure means that MLPs don’t pay taxes, instead handing the tax bill to investors who receive distributions. Investing directly means handling K-1 forms for each MLP, which is a time-consuming and sometimes confusing tax-time hassle.
These two ETFs simplify investing in MLPs by handling the accounting and sending shareholders a single 1099 for tax filing. It’s simpler for sure. The expense ratios for each include an allowance for the ETF’s estimated tax liability, which it will incur in the future because it will not pass along the full tax liability to ETF holders. That’s a drag on returns, but you know that going in, and it’s reflected in historical performance for both funds. Using the Alerian ETF as an example, the future tax liability expense is currently 0.17% of the fund’s 1.01% expense ratio. That is likely to grow over time as the fund collects more distributions and tax liability.
So how to differentiate between these ETFs? The First Trust ETF, EMLP, takes a more concentrated approach to investing in midstream assets, with just 14 equities, which means 99.9% of its holdings are in its top 10 stocks, compared with 47% for AMLP.
But a concentrated approach does not necessarily mean a bad one. Witness EMLP’s much lesser maximum drawdown compared to AMLP. That shows shrewd portfolio management by the index and the fund managers. That shows itself in the performance, when EMLP beats AMLP in most time frames.
EMLP has returned 21%, 16.1%, and 9.9% over the 3-, 5-, and 10-year look-backs. By comparison, AMLP returned an annualized 18.9% in the 3-year and 6.4% in the 10-year to trail EMLP in those time frames. However, AMLP did better than its competitor in the 5-year time frame, with a return of 16.3% annually.
For investors looking for a midstream energy play, EMLP is the better buy.
For more guidance on ETF investing, check out the full guide at this link.
HOBOKEN, N.J. & BELMONT, Calif.--(BUSINESS WIRE)--NiCE (Nasdaq: NICE) today announced a significant expansion of its long-standing partnership with RingCentral, Inc. (NYSE: RNG), a global leader in AI-powered customer engagement. Under a new multi-year agreement, NiCE will resell RingCentral's unified communications as a service (UCaaS) solution, RingEXTM. In addition, the companies have extended their existing agreement to market and sell RingCentral Contact Center, powered by NiCE CXone, for a.
BASEL, Switzerland and LONDON and NEW YORK, July 23, 2026 (GLOBE NEWSWIRE) -- Roivant (Nasdaq: ROIV) today announced that it will host a live conference call and webcast at 8:00 a.m. ET on Thursday, August 6, 2026, to report its financial results for the first quarter ended June 30, 2026, and provide a business update.
July 23, 2026 16:05 ET | Source: Rigetti Computing, Inc.
BERKELEY, Calif., July 23, 2026 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or the "Company") (Nasdaq: RGTI), a pioneer in hybrid quantum-classical computing, announced today that it will release second quarter 2026 results on Thursday, August 6, 2026, after market close. The Company will host a conference call to discuss its financial results and provide an update on its business operations at 5:00 p.m. ET the same day.
Key details regarding the call are as follows:
Call Date: Thursday, August 6, 2026
Call Time: 5:00 p.m. ET / 2:00 p.m. PT
Webcast Link: https://edge.media-server.com/mmc/p/9pedzvky
Live Call Participant Link: https://register-conf.media-server.com/register/BI6483c92f267f4169a6d27a72dc7c5e58
Webcast Instructions
You can listen to a live audio webcast of the conference call by visiting the “Webcast Link” above or the "Events & Presentations" section of the Company's Investor Relations website at https://investors.rigetti.com/. A replay of the conference call will be available at the same locations following the conclusion of the call for one year.
Live Call Participant Instructions
To participate in the live call, you must register using the “Live Call Participant Link” above. Once registered, you will receive dial-in numbers and a unique PIN number. When you dial in, you will input your PIN and be routed into the call. If you register and forget your PIN, or lose the registration confirmation email, simply re-register to receive a new PIN.
About Rigetti
Rigetti is a pioneer in full-stack quantum computing. Rigetti quantum computers are based on superconducting qubits, which are widely believed to be the leading qubit modality given their maturity, clear path to scaling, and fast gate speeds. Rigetti quantum computing systems achieve gate speeds of 50-70 nanoseconds, which is about 1,000 times faster than alternative modalities such as trapped-ion and neutral-atom systems.
Rigetti sells on-premises 9-qubit to 108-qubit quantum computing systems, which support national laboratories and quantum computing centers. Rigetti’s Cepheus 36-qubit to 108-qubit systems are based on the Company’s proprietary chiplet-based technology and include the Company’s control electronics. Rigetti’s 9-qubit Novera QPU supports a broader R&D community with a high-performance, on-premises QPU designed to plug into a customer’s existing cryogenic and control systems.
The Company operates quantum computers over the cloud through its Rigetti Quantum Cloud Services (QCS) platform, enabling global enterprise, government, and research clients to pursue R&D. The Company’s proprietary quantum-classical infrastructure provides high-performance integration with public and private clouds for practical quantum computing.
Rigetti developed the industry’s first multi-chip quantum processor for scalable quantum computing systems. Leveraging this proprietary technology, Rigetti deployed the industry’s largest multi-chip quantum computer in 2026 with Cepheus-1-108Q, based on twelve 9-qubit chiplets tiled together. The Company designs and manufactures its chips in-house at Fab-1, the industry’s first dedicated and integrated quantum device manufacturing facility. Learn more at https://www.rigetti.com/.
IRVINE, Calif.--(BUSINESS WIRE)--Xponential Fitness, Inc. (NYSE: XPOF) (“Xponential” or the “Company”), one of the leading global franchisors of boutique health and wellness brands, today announced that it will release its second quarter 2026 financial results on Thursday, August 6, 2026, after the market closes. Xponential Fitness management will host a conference call to discuss the results the same day at 1:30 p.m. PT / 4:30 p.m. ET. To access the event by telephone, please dial +1 (877) 407.
MIAMI--(BUSINESS WIRE)---- $SMMT--Summit Therapeutics Inc. (NASDAQ: SMMT) today reported its financial results for the second quarter and six months ended June 30, 2026 and provided an update on clinical and operational progress. “The clinical momentum of ivonescimab continues to build, with two recent key data readouts that significantly bolster our development progress. At ASCO, the landmark HARMONi-6 results established the first head-to-head Phase III study in any tumor type to demonstrate a meaningf.
LOCKHART, Texas--(BUSINESS WIRE)---- $OKLO #advancedfission--Oklo Inc. (NYSE: OKLO) (“Oklo”), an advanced nuclear technology company, today announced it received startup authorization for its Groves Isotope Test Reactor. This authorization, granted under the U.S. Department of Energy (DOE) Reactor Pilot Program, completes DOE's authorization process and clears the way for fuel loading, startup testing, and reactor operations. Groves is a low-power test reactor designed to demonstrate reactor design, build, and operations.
License agreement provides Magnachip access to Navitas’ GeneSiC™ Gen 4 and Gen 5 SiC technologies spanning 1200 V, 2300 V, 3300 V and higher voltages, supported by Navitas’ supply chain and materials ecosystem
Targeting energy and grid infrastructure, energy storage, industrial electrification, automotive and other high-power systems in Korea
TORRANCE, Calif. and SEOUL, South Korea, July 23, 2026 (GLOBE NEWSWIRE) -- Navitas Semiconductor Corporation (Nasdaq: NVTS), an industry leader in next-generation GaNFast™ gallium nitride (GaN) and GeneSiC™ silicon carbide (SiC) power semiconductors, and Magnachip Semiconductor Corporation (NYSE: MX), a designer and manufacturer of analog and mixed-signal power semiconductor platform solutions, today announced a strategic partnership to accelerate adoption of SiC technologies in high-voltage (HV) and ultra-high-voltage (UHV) power markets.
Under the terms of the agreement, Magnachip will license Navitas’ GeneSiC™ Trench-Assisted Planar™ (TAP) technology to enter the HV and UHV SiC markets. The license covers 1200 V, 2300 V, 3300 V and higher voltage GeneSiC technologies, enabling Magnachip to build on Navitas’ proven SiC device platforms for next-generation power conversion applications.
Magnachip will also gain access to Navitas’ SiC supply chain and materials ecosystem, supporting faster market entry. At the same time, the technology is planned to be ported, qualified, and internalized at Magnachip’s fab in South Korea. The companies expect this approach to help accelerate Magnachip’s entry into SiC while maintaining continuity with Navitas’ established technology and materials base. The licensed technologies are expected to support next-generation applications including energy and grid infrastructure, energy storage, industrial electrification, automotive and other high-power systems.
The companies also stated that the agreement encompasses broader engagement beyond SiC. Additional areas of partnership are expected to be detailed and announced later.
“This strategic partnership with Magnachip reflects our long-term vision to broaden GeneSiC adoption across high-voltage and ultra-high-voltage power markets,” said Chris Allexandre, President and CEO of Navitas. “By licensing our proven GeneSiC technologies and supporting Magnachip through our supply-chain and materials ecosystem, we are creating a path to scale advanced SiC solutions more rapidly while enabling a deeper, long-term collaboration between our companies.”
“This agreement opens an important new market opportunity for Magnachip in high-voltage and ultra-high-voltage SiC,” said Chae Lee, Chief Executive Officer of Magnachip. “The addition of GeneSiC technology complements our existing MOSFET and power semiconductor portfolio and positions Magnachip to serve customers that require higher efficiency, higher voltage capability and more reliable power conversion solutions.”
For more information about the partnership and related products, please contact a Navitas representative or write to [email protected].
Navitas Semiconductor (Nasdaq: NVTS) is a next-generation power semiconductor leader in gallium nitride (GaN) and IC integrated devices, and high-voltage silicon carbide (SiC) technology, driving innovation across AI data centers, performance computing, energy and grid infrastructure, and industrial electrification. With more than 30 years of combined expertise in wide bandgap technologies, GaNFast™ power ICs integrate GaN power, drive, control, sensing, and protection, delivering faster power delivery, higher system density, and greater efficiency. GeneSiC™ high-voltage SiC devices leverage patented trench-assisted planar technology to provide industry-leading voltage capability, efficiency, and reliability for medium-voltage grid and infrastructure applications. Navitas has over 300 patents issued or pending and is the world’s first semiconductor company to be CarbonNeutral®-certified.
Navitas Semiconductor, GaNFast, GaNSense, GaNSafe, GeneSiC, and the Navitas logo are trademarks or registered trademarks of Navitas Semiconductor Limited or affiliates. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.
About Magnachip Semiconductor
Magnachip Semiconductor Corporation is a designer and manufacturer of analog and mixed-signal power semiconductor platform solutions for a range of applications including industrial, automotive, communications, consumer and computing. Magnachip’s power solutions portfolio includes MOSFET and power IC technologies designed to improve power efficiency and system performance across high-value electronic systems.
This press release includes “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are attempts to predict or indicate future events or trends or similar statements that are not a reflection of historical fact. Forward-looking statements are not predictions of actual future performance. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions and expectations. For Navitas, these and other risk factors are discussed in the Risk Factors section of its most recent annual report on Form 10-K, as updated in its most recent quarterly report on Form 10-Q, and in other documents filed with the SEC. Magnachip’s risks are discussed in its most recent annual report on Form 10-K, as updated in its most recent quarterly report on Form 10-Q, and other documents filed with the SEC. If any of these risks materialize or if assumptions underlying forward-looking statements prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Statements may be identified by the use of words such as “we expect,” “are expected to be,” “estimate,” “plan,” “project,” “forecast,” “intend,” “anticipate,” “believe,” “seek,” or other similar expressions. Forward-looking statements are made based on estimates and forecasts of financial and performance metrics, projections of market opportunity and current indications of customer interest, all of which are based on various assumptions. All such statements are based on current expectations of the management of Navitas and Magnachip
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6918420e-4157-4ff2-8510-67143d055ea5
John W. Raymond, a member of the Board of Directors at Planet Labs PBC (PL -1.08%), sold 6,494 shares of Class A Common Stock on July 13, 2026, according to an SEC Form 4 filing.
Transaction summaryMetricValueTransaction value~$169,883Shares sold6,494Post-transaction shares43,593Post-transaction shares (directly held)6,479Post-transaction shares (indirectly held)37,114Post-transaction value$1.13 millionTransaction value based on SEC Form 4 weighted average sale price ($26.16); post-transaction value based on July 13, 2026 market close.
Key questionsWhat precipitated this transaction?
The disposition was carried out under a Rule 10b5-1 plan established on January 22, 2026, which allows insiders to set up a pre-determined schedule for selling stock to avoid concerns about trading on non-public information.What is the current composition of the director's equity stake?
Following the transaction, the director retains 6,479 shares directly and 37,114 shares indirectly through the Raymond Family Rev Trust U/A DTD 05/30/2023, representing a total beneficial interest of 43,593 shares.What market performance preceded this transaction?
As of the July 13, 2026 transaction date, the company's stock had generated a 323% total return over the preceding 12 months, during which time it maintained a market capitalization of $8.6 billion.What are the core operations of Planet Labs PBC?
The company manages satellite constellations to provide global geospatial data, utilizing a cloud-native platform to process imagery for data integration and temporal analysis.Company OverviewMetricValueShare Price (as of market close 2026-07-13)$25.96Market Capitalization$8.6 billionRevenue (TTM)$335.6 millionNet Income (TTM)($373.1 million)Company SnapshotPlanet Labs designs, deploys, and operates extensive satellite constellations that deliver frequent, global geospatial imagery and data to institutional and commercial customers through a cloud-native platform.The company generates revenue through subscription-based access to its satellite imagery platform and value-added geospatial analytics services, leveraging proprietary processing technology to deliver actionable intelligence.The company serves government agencies, defense contractors, agricultural enterprises, and commercial entities requiring real-time or near-real-time Earth observation data for strategic decision-making and operational monitoring.Planet Labs PBC operates as a leading provider of frequent, global Earth observation data through its proprietary satellite constellation and cloud-native analytics platform. The company has achieved significant market capitalization of $8.6 billion, reflecting strong institutional demand for geospatial intelligence.
With 945 employees and a strategic focus on expanding satellite constellation capacity and platform capabilities, Planet Labs is positioned to capture growing demand across defense, intelligence, agriculture, and commercial sectors for persistent, actionable Earth observation intelligence.
What this transaction means for investorsThe July 12 sale of Planet Labs stock by Director John Raymond, a retired general who served as the first Chief of Space Operations for the United States Space Force, was executed as part of a pre-established Rule 10b5-1 plan. This makes the disposition a non-discretionary transaction.
Moreover, Raymond moved 43,608 shares into a trust from which the July 12 sale occurred, leaving over 37,000 indirectly-held shares. This action suggests he is not in a rush to dispose of his Planet Labs stock in anticipation of share price appreciation in the future. Consequently, the disposition does not appear to be a cause for investor concern.
The company’s stock soared to a jaw-dropping 52-week high of $51.76 in May as Wall Street feverishly awaited the June public debut of Space Exploration Technologies Corporation, better known as SpaceX. This was a tidal wave that raised all boats in the space sector. As Raymond’s sale at a weighted average price of $26.16 demonstrates, shares have fallen back down to earth post-SpaceX IPO.
Robert Izquierdo has positions in Planet Labs PBC. The Motley Fool has positions in and recommends Planet Labs PBC. The Motley Fool has a disclosure policy.
DENVER--(BUSINESS WIRE)--Farmland Partners Inc. (NYSE: FPI) (the “Company”) today announced it will release its financial results for the quarter ended June 30, 2026, after 5 p.m. (Eastern Time) on Wednesday, July 29, 2026, and will host a conference call the following day, Thursday, July 30, 2026, at 11:00 a.m. (Eastern Time) to discuss the financial results and provide a company update. The call can be accessed live over the phone by dialing 1-833-461-5787 and using the conference ID 62407914.
SAN DIEGO--(BUSINESS WIRE)--Mitek Systems, Inc. (NASDAQ: MITK), a global leader in digital identity verification and fraud prevention, today announced that it will release its financial results for the third quarter of fiscal year 2026, which ended June 30, 2026, after the U.S. market closes on Thursday, August 6, 2026. Mitek will host a conference call and live webcast to discuss the results at 2 p.m. PT (5 p.m. ET). Mitek CEO Ed West and CFO Dave Lyle will lead the call, followed by a Q&A.
Ricardo Dutra Da Silva, Principal Executive Officer, reported a sale of 50,000 Class A Common Shares of PagSeguro Digital Ltd. (PAGS -2.17%) across transactions executed on July 20, and July 21, 2026. SEC Form 4 filing.
Today's Change
(
-2.17
%) $
-0.21
Current Price
$
9.46
Transaction summaryMetricValueTransaction value$463,000Shares sold (indirectly held)50,000Post-transaction shares (directly held)347,830Post-transaction value$3.3 millionTransaction value based on SEC Form 4 weighted average sale price ($9.26); post-transaction value based on July 21, 2026 market close ($9.58).
Key questionsHow did this transaction change the executive's ownership structure?
The sale resulted in the complete liquidation of 50,000 shares held indirectly, which represented 100% of that specific ownership bucket. Ricardo Dutra Da Silva continues to hold 347,830 shares directly, representing a 0.12% ownership stake in the company.What were the specific execution details for this disposition?
The shares were sold at a weighted average price of $9.26 per share, sitting slightly below the market close of $9.58 on the final day of the transaction window. According to the filing, individual execution prices ranged from $9.26 to $9.27.What is the current business profile of PagSeguro Digital?
Based in São Paulo, the company provides financial and payment solutions, including digital banking services, wire transfers, and various point-of-sale systems for micro-merchants and small businesses in Brazil and internationally. The company reported trailing 12-month revenue of $19.8 billion and net income of $2.1 billion as of the latest reporting.How has the stock performed relative to this transaction?
Shares were priced at $9.67 as of the July 22, 2026 market close. This valuation follows a period of appreciation, with the stock having realized a 20% return over the one-year period ending July 21, 2026.Company OverviewMetricValueShare Price (as of market close 2026-07-22)$9.67Market Capitalization$2.7 billionRevenue (TTM)$19.8 billionNet Income (TTM)$2.1 billionCompany SnapshotPagSeguro Digital provides a comprehensive suite of financial and payment solutions, including digital banking services, debit and credit card products, point-of-sale payment systems, and specialized financial services such as tax collection and wire transfers.The company generates revenue through transaction fees, interchange commissions, service charges, and financial product offerings across its integrated fintech platform that serves both consumers and businesses.PagSeguro's primary customer base consists of individual entrepreneurs, micro-merchants, small and medium-sized enterprises, and retail consumers throughout Brazil and select international markets.PagSeguro Digital operates as a leading fintech platform in Brazil, leveraging its extensive merchant network and digital infrastructure to capture significant transaction volumes across payment processing and financial services. The company's competitive advantage derives from its integrated ecosystem combining payment processing, digital banking, and financial products, enabling cross-selling opportunities and customer retention across its diversified revenue streams. With TTM revenue of $19.8 billion and net income of $2.1 billion, PagSeguro demonstrates substantial scale and profitability within the specialty business services sector.
What this transaction means for investorsInvestors usually don’t like to see insiders selling shares. But there are reasons an executive may sell shares without it reflecting their outlook for the stock. These can include having to pay a large personal expense or doing reasonable portfolio diversification.
Business-wise, Wall Street analysts expect PagSaguro to post a decent fiscal 2026, with revenue seen rising nearly 4% in the company’s reporting currency (Brazilian reals), with a much healthier gain in net income of just about 13%. In the company’s May earnings call, da Silva noted how well the company has been performing financially. For example, deposits rose 23% year over year, which is important because deposits are a fundamental source of income for banks (by investing in a usually safe, highly regulated fashion). The executive also boasted of the stock’s return to shareholders, thanks to share buybacks. In the past year, PAGS shares traded on the New York Stock Exchange have gained about 20%.
Given the positive outlook for the business and da Silva’s still sizeable direct ownership in the business, at more than $3 million value, investors should weigh the executive’s sale as part of their overall thesis in the business, but it’s not a red flag to avoid PagSeguro Digital stock.
Key Takeaways Centrus Energy offers operating revenues, fuel services and a $3.9B backlog extending through 2040.LEU's 2026 revenue guidance rose to $450-$500M, while a $900M DOE award could support expansion.LEU trades at 7.09X forward sales versus SMR's 26.83X and remains profitable through 2027. Nuclear power is moving back into the investment spotlight as electricity demand rises, grids face reliability pressure and governments push for more domestic energy security. NuScale Power (SMR - Free Report) and Centrus Energy (LEU - Free Report) offer very different ways to gain exposure. NuScale is trying to commercialize small modular reactors, while Centrus supplies enriched uranium and related nuclear-fuel services. The key question is which business has clearer near-term support.
The Case for SMR StockNuScale’s main strength is its regulatory lead. Its 50-megawatt and 77-megawatt reactor designs have received U.S. Nuclear Regulatory Commission approvals, giving customers a more defined licensing path than many competing advanced-reactor concepts. The modules use commercially available low-enriched uranium, rely on passive safety features and can be factory-built for phased deployment. NuScale also promotes behind-the-meter power for data centers and industrial sites, which could reduce dependence on crowded transmission systems.
ENTRA1 Energy, NuScale’s exclusive commercialization partner, is working with the Tennessee Valley Authority on a potential program of up to 6 gigawatts. Romania’s RoPower project has also moved forward, with its next pre-construction engineering phase expected to last about 15 months once financing is secured. Partnerships with Framatome and Doosan Enerbility improve fuel and manufacturing readiness, while liquidity of roughly $1 billion at the end of March provides room to keep preparing for deployment.
Yet the gap between technical readiness and commercial success remains wide. First-quarter revenues were only about $0.6 million, and reactor sales have not yet produced a steady revenue base. Major projects still depend on financing, firm customer commitments, permits and long construction schedules. NuScale has also used its at-the-market program, showing that dilution can remain part of the funding picture. The stock therefore rests heavily on future contracts rather than current operating strength.
The Case for LEU StockCentrus has a more established business because it already sells low-enriched uranium and provides technical services. It is also the only U.S. company with proven, licensed technology for producing high-assay low-enriched uranium, or HALEU, outside Russia, placing it in a key part of the Western nuclear supply chain. That position matters as utilities seek alternatives to Russian enrichment and reactor developers look for secure domestic fuel.
Its backlog offers much better visibility than NuScale’s project pipeline. Centrus ended the first quarter with $3.9 billion of backlog extending through 2040, including $2.4 billion of contingent LEU enrichment commitments under definitive agreements. Management also raised its 2026 revenue guidance to $450-$500 million. A $900 million Department of Energy HALEU award, still subject to final negotiations, could further support its expansion.
Centrus is investing heavily in its Piketon and Oak Ridge buildout, with planned 2026 capital deployment of $350-$500 million. Partnerships with Fluor and Palantir are intended to shorten lead times and control costs, and management has identified about $300 million in potential savings. Still, expansion execution, government funding, customer concentration and uranium-market swings remain real risks. Earnings can vary sharply because delivery volumes and contract mix are uneven. Even so, Centrus already generates meaningful revenues, holds a large cash balance and operates in a supply-constrained market.
Price PerformanceThe market has punished both stocks, but not equally. LEU is down 28.2% year to date, while SMR has fallen 38.8%. The sharper decline reflects greater concern around NuScale’s commercialization timing, revenue visibility and funding needs. Centrus has also faced volatility, yet its existing operations and backlog give investors more evidence to value.
Image Source: Zacks Investment Research
ValuationFrom a valuation standpoint, Centrus Energy appears considerably cheaper. Based on the forward price-to-sales ratio, SMR is trading at 26.83X, while LEU trades at 7.09X. Such a wide valuation gap suggests that investors are assigning a much larger premium to NuScale's future commercialization potential despite its limited current revenues. Centrus, on the other hand, offers a more established operating business, meaningful backlog and stronger revenue visibility at a significantly lower valuation multiple, making LEU look more attractive on this metric.
Image Source: Zacks Investment Research
Earnings EstimatesThe earnings outlook presents a mixed picture. The Zacks Consensus Estimate for Centrus Energy’s 2026 earnings is $2.70 per share, indicating a 30.8% decline from 2025. However, the estimate rises to $2.80 per share in 2027, representing a modest 3.5% improvement from 2026 and suggesting that earnings may begin stabilizing after the expected decline.
Image Source: Zacks Investment Research
For NuScale, the consensus estimate calls for a loss of 46 cents per share in 2026, marking a 78.8% improvement from 2025. Yet the projected loss widens to 83 cents per share in 2027, reflecting a 79.3% deterioration from 2026.
Image Source: Zacks Investment Research
Thus, while NuScale is expected to reduce losses sharply in 2026, the renewed decline projected for 2027 weakens its earnings visibility. LEU remains profitable across both years, giving it the stronger overall earnings profile.
ConclusionBoth companies could benefit from the nuclear revival, but they offer different risk profiles. NuScale Power has valuable technology and a large long-term opportunity, yet investors are still waiting for binding orders and dependable revenues. Centrus Energy combines strategic fuel exposure with operating income, backlog and government support. LEU carries a Zacks Rank #3 (Hold) and is therefore better placed than SMR, with a Zacks Rank #4 (Sell), at the moment.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
, /PRNewswire/ -- Centrus Energy Corp. (NYSE: LEU) will broadcast its quarterly conference call with shareholders and the financial community over the Internet on Thursday, August 6, 2026, at 8:30 a.m. ET. The Company will release its second quarter earnings report for 2026, which ended June 30, 2026, after the close of markets on Wednesday, August 5, 2026.
The conference call will be open to listeners who log in through the Company's website, CentrusEnergy.com. A link to the call will be located in the Investor Relations section of the website, and a webcast replay will be available through August 19, 2026.
About Centrus Energy
Centrus Energy is a trusted American supplier of nuclear fuel and services for the nuclear power industry, helping meet the growing need for clean, affordable, carbon-free energy. Since 1998, the Company has provided its utility customers with more than 1,850 reactor years of fuel, which is equivalent to more than 7 billion tons of coal.
With world-class technical and engineering capabilities, Centrus is pioneering production of High-Assay, Low-Enriched Uranium and is leading the effort to restore America's uranium enrichment capabilities at scale so that we can meet our clean energy, energy security, and national security needs. Find out more at CentrusEnergy.com.
Contact:
Investors and Media: Neal Nagarajan [email protected]
Item 1 of 3 The Warner Bros. Water Tower is pictured at Warner Bros. Studios in Burbank on the day it was announced that California and 11 states are suing to block Paramount's $110 billion acquisition of Warner Bros. Discovery in California, U.S. July 13, 2026. REUTERS/Daniel Cole/File Photo
[1/3]The Warner Bros. Water Tower is pictured at Warner Bros. Studios in Burbank on the day it was announced that California and 11 states are suing to block Paramount's $110 billion acquisition of... Purchase Licensing Rights, opens new tab Read more
CompaniesJuly 23 (Reuters) - Paramount Skydance (PSKY.O), opens new tab must pause its $110 billion acquisition of Warner Bros. Discovery (WBD.O), opens new tab through August 17, a federal judge ruled on Thursday.
The move gives Paramount Skydance more time to argue against a potential months-long pause while the case plays out. The company has said such a prolonged delay would plunge the deal into uncertainty and could cost it more than $1 billion.
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A California-led coalition of states have sued to block the deal, saying it would harm competition in film and television, hurting theaters and cable companies. The Writers Guild of America has filed a separate lawsuit alleging the deal would decrease demand for screenwriting work.
U.S. District Judge Araceli Martínez-Olguín in Oakland, California, previously paused the deal through August 3, when she would have held a hearing on whether to postpone the deal's closing for longer.
Paramount has asked for a three-day hearing in August where it can present evidence the deal bolsters competition before the judge decides on a longer pause.
Reporting by Jody Godoy in New York; Editing by Mark Porter and Deepa Babington
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Jody Godoy reports on tech policy and antitrust enforcement, including how regulators are responding to the rise of AI. Reach her at [email protected]
VIRGINIA CITY, Nev., July 23, 2026 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE: LODE) (“Comstock,” “our,” and the “Company”), today announced its second quarter 2026 business results, updates and outlook.
HAUPPAUGE, N.Y., July 23, 2026 (GLOBE NEWSWIRE) -- Dime Commercial Bancshares, Inc. (NYSE: DCOM, DCOM PR and DCBG) (the “Company”) announced that its Board of Directors declared a quarterly cash dividend of $0.34375 per share on the Company's 5.50% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A, payable on August 14, 2026 to holders of record as of August 7, 2026.
Alphabet's Google (GOOG) said its investment portfolio now includes $94.1 billion in shares of SpaceX (SPCX), a space-and-AI company, following SpaceX's blockbu
In two weeks, on Aug. 4, Space Exploration Technologies (SPCX +2.56%) is scheduled to release its first quarterly earnings report after going public through an initial public offering (IPO) in June. Better known as SpaceX, the technology company that raised the most capital in an IPO in history, is now settling into the routine of a publicly traded company.
Here's my prediction for what happens to SpaceX after this quarterly earnings report, and why it will have little to no bearing on the stock over the next 10 years.
Image source: Getty Images.
SpaceX saw fast revenue growth, but more losses SpaceX is the leading private spaceflight company that is also trying to expand into an artificial intelligence (AI) giant. Heading into the IPO, its Starlink connectivity business was seeing the most growth, posting 50% year-over-year revenue growth in 2025. Investors should expect more of this stellar growth to continue in Q2 of 2026.
The company is working on massive new projects, including the Starship rocket, AI data centers, and orbital AI compute. Spending on these projects will likely keep the company in the red in the second quarter, just as it was in 2025, with operating earnings of negative $2.5 billion. SpaceX spent $21 billion on capital expenditures in 2025 while generating $18.7 billion in revenue, mainly from Starlink. This makes it one of the most aggressive spenders in the AI infrastructure boom.
Revenue will begin to show up from AI compute contracts with the likes of Alphabet, Anthropic, and others, but it will likely be many years -- if ever -- before these deals turn a profit for SpaceX.
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What matters over the next few quarters is different than what matters over the next decade Regardless of what SpaceX reports financially this quarter, there is only one thing that will drive the share price for the rest of 2026: the end of various lockup periods for insider shareholders. Of the 13 billion total shares outstanding in SpaceX, 4.6 billion are currently in a lockup period and cannot be traded. Twenty percent of these shares get unlocked two days after Q2 earnings, with many long-term investors likely looking to sell and return capital to investors who put money into SpaceX in its early days.
The rest of the float gets unlocked over the rest of 2026, excluding Elon Musk's shares. With a flood of selling pressure on the horizon, it is likely that SpaceX's stock price will fall over the rest of 2026. This does not change the fundamentals of the business, which depend on the commercial viability of Starship and AI data centers in orbit over the next decade, but it does mean a volatile post-IPO share price is more likely.
YieldMax has launched another single-stock option-income fund, this time built around one of the market’s most-watched newcomers: SpaceX. The YieldMax® SPCX Option Income Strategy ETF (NYSEARCA:YSPC) began trading on NYSE Arca in mid-July 2026, with a prospectus dated July 12, 2026. It is issued through Tidal Trust II, with Tidal Investments LLC serving as adviser, and joins YieldMax’s growing lineup of income ETFs tied to a single underlying stock.
The fund carries an expense ratio of 1.01%, gross and net, which works out to about $101 a year on a $10,000 investment. That fee is in line with other YieldMax single-stock income funds and well above what a plain index ETF charges. According to the prospectus, YSPC’s primary objective is current income, and its secondary objective is exposure to Space Exploration Technologies Corporation Class A common stock (SPCX), subject to a limit on the fund’s participation in gains.
What the Fund Does YSPC is an actively managed ETF, meaning a portfolio team picks and adjusts the holdings rather than tracking an index. The strategy itself is an options overlay. Rather than owning SpaceX shares outright, the fund uses options contracts on SPCX to generate income while getting synthetic exposure to the stock’s price. Under its prospectus, the fund commits to investing at least 80% of net assets, plus borrowings, in securities and financial instruments that provide indirect exposure to SPCX, with the notional value of options contracts counting toward that test.
Notional value is worth pausing on. It refers to the full face value of a position rather than the capital actually committed. That is how a fund can reference a large amount of stock exposure while posting only a fraction of that amount as collateral. In practice, YieldMax funds typically sell call options against their synthetic long positions. The premiums collected become the income the fund distributes. The trade-off: if SpaceX shares rally hard, the fund’s upside is capped by those sold calls, while the downside if SpaceX falls is largely intact.
Why It Exists and How It Stacks Up YieldMax built its brand on funds tied to Tesla, NVIDIA, MicroStrategy, and Coinbase, all of which apply the same synthetic-covered-call template to a volatile single stock. SpaceX, freshly public with a market capitalization of roughly $928.7 billion and a business spanning launch, Starlink satellite broadband, and (after the early-2026 xAI acquisition) artificial intelligence, is a natural fit for that playbook.
YSPC is the first ETF built specifically to sell options on SPCX for income. Direct competitors do not yet exist, though the broader category of single-stock covered-call ETFs from issuers such as Kurv and Roundhill charges fees in a similar range. Investors comparing YSPC against simply owning SPCX shares should note that SpaceX itself pays no dividend, so any yield from YSPC comes entirely from the options strategy, not from the underlying company.
Who It Might Suit, and the Risks The fund is designed for investors who want cash distributions tied to a highly volatile stock and are willing to give up part of the upside to get them. The prospectus notes distributions are generally taxable as ordinary income, qualified dividend income, or capital gains, which is worth understanding before holding it in a taxable account.
The risks are meaningful. YSPC has no track record: the fund has not yet paid a distribution, so the actual yield is unknown. In its first five trading days, shares moved from $49.96 on July 15 to $46.16 on July 21, a decline of 7.61%, and closed at $46.06 on July 21. SPCX itself has been rough lately, down 33.22% over the past month from a start price of $185 on June 18 to $123.54 on July 21. Because the option strategy caps gains but not losses, a sustained drawdown in SPCX can erode the fund’s net asset value even while distributions are being paid, meaning yield can effectively come out of principal.
New ETFs also tend to launch with small assets and wider bid-ask spreads, and funds that fail to gather assets sometimes close. The fund’s total net assets were not disclosed in the prospectus.
What to watch from here: the size and frequency of YSPC’s first distributions, how much of its NAV holds up during SpaceX’s volatile early trading life, and whether assets under management build enough to keep the fund viable through its first year.
Contact [email protected] for any questions or corrections.
Space Exploration Technologies (SPCX +2.56%) officially joined the Nasdaq-100 on July 7. The megacap growth stock was fast-tracked into the index less than a month after its June 12 initial public offering.
However, the percentage of shares available for public trading -- known as the float -- is roughly 5% of SpaceX's market cap. That number will increase as shares are gradually unlocked beginning Aug. 6. Until then, SpaceX's Nasdaq-100 weighting is around four or five times its float rather than its market cap.
So instead of being over 4% of the Nasdaq-100 and Nasdaq-100-based exchange-traded funds (ETFs) like the Invesco QQQ Trust (QQQ -1.90%), SpaceX is 1.1% for the time being -- making it the 22nd largest holding in the ETF.
Image source: Getty Images.
Investment management firm Vanguard just updated its holdings across dozens of its ETFs. As of June 30, the data shows that multiple Vanguard ETFs bought SpaceX in June, including the Vanguard Total Stock Market ETF (VTI -1.13%), the Vanguard Growth ETF (VUG -2.19%), the Vanguard Mega Cap Growth ETF (MGK -2.42%), and the Vanguard Communication Services ETF (VOX -3.52%). But only one Vanguard ETF has a higher weighting in SpaceX than the Nasdaq-100.
SpaceX will anchor the Vanguard Communication Services ETF Vanguard has low-cost ETFs for each of the 11 stock market sectors. In June, I correctly predicted that Vanguard would add SpaceX to its communication sector ETF rather than industrials or technology because most of SpaceX's revenue and near-term growth are driven by its Starlink network of low-earth orbit satellites and because SpaceX owns the social media platform X (formerly Twitter).
That prediction came true when Vanguard updated the holdings of its Communication Services ETF, and SpaceX already jumped to the 13th-largest holding at 2.4%. That's significantly higher than the less than 0.5% weighting in the three Vanguard ETFs mentioned earlier.
Investors can expect SpaceX's weighting in the communications sector to grow as more shares are unlocked and traded on the Nasdaq. When SpaceX is eventually weighted by market cap, it will likely rank as the third-largest holding behind Alphabet and Meta Platforms. But it could even be the second-largest holding if it overtakes Meta Platforms in market cap again.
NYSEMKT: VOXVanguard World Fund - Vanguard Communication Services ETF
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Sector ETF concentration is a bonus With a mere 0.09% expense ratio, the Vanguard Communication Services ETF is one of the best ETFs to buy for investors looking for a low-cost option that will make SpaceX a top holding. Whereas funds based on the Nasdaq-100 include stocks from all sectors, sector-based ETFs give added weight to industry leaders because there are fewer components. This structure allows Amazon and Tesla to dominate the consumer discretionary sector, ExxonMobil and Chevron to lead the energy sector, and so on.
SpaceX's entry into the communications sector puts it in the big three alongside Alphabet and Meta Platforms. Once SpaceX's lockup period fully ends in early December, investors can expect close to 60% of the ETF to be invested in these three stocks.
Daniel Foelber has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Amazon, Chevron, Meta Platforms, Tesla, and Vanguard Growth ETF. The Motley Fool recommends Nasdaq. The Motley Fool has a disclosure policy.
SAN ANTONIO, July 23, 2026 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE: TOL), the nation's leading builder of luxury homes, today announced the grand opening of its new Toll Brothers Design Studio in San Antonio, Texas. The public is invited to attend the grand opening event on Friday, July 31 from 4 p.m. to 7 p.m. at 15337 San Pedro Avenue in San Antonio. Light refreshments, cocktails, and hors d'oeuvres will be served.
Announces portfolio realignment through planned 2026 dispositions of $1.5-$2.0 billion
, /PRNewswire/ -- Rexford Industrial Realty, Inc. (the "Company" or "Rexford Industrial") (NYSE: REXR), a real estate investment trust ("REIT") focused on creating value by investing in and operating industrial properties throughout infill Southern California, today announced financial and operating results for the second quarter of 2026.
Second Quarter 2026 Financial and Operational Highlights (all comparisons to Second Quarter 2025)
Net loss attributable to common stockholders of $506.9 million, or $2.26 per diluted share, driven by non-cash impairment, as compared to net income of $113.4 million, or $0.48 per diluted share. Company share of Core FFO of $141.4 million, an increase of 1.2%. Company share of Core FFO per diluted share of $0.63, an increase of 6.8%. Total Portfolio NOI of $186.8 million, an increase of 0.3%. Same Property Portfolio Cash NOI increased 1.5% and Same Property Portfolio NOI decreased 0.5%. Average Same Property Portfolio occupancy of 95.7%. Executed 2.1 million square feet of new and renewal leases. Comparable rental rates decreased by 2.8%, compared to prior rents, on a net effective basis and decreased by 11.3% on a cash basis. Stabilized two development projects totaling 196,391 square feet. Sold seven properties for a total sales price of $137.9 million. Company increased its full-year 2026 disposition guidance to $1.5 to $2.0 billion as part of its planned portfolio realignment. Repurchased 2,801,307 shares of common stock for $100 million at a weighted average price of $35.70 per share. Subsequent to quarter end, the Board of Directors authorized a new, $1.0 billion stock repurchase program. Net Debt to Adjusted EBITDAre of 4.5x. "This quarter reflects both strong execution and a transformative step forward in advancing our strategic priorities," said Laura Clark, Chief Executive Officer. "The realignment of our portfolio through the planned disposition of approximately $2 billion of identified non-core assets will further strengthen our portfolio, enhance cash flow durability and increase financial flexibility, positioning Rexford to maximize long-term shareholder value. We are also encouraged by the continued improvement we are seeing in fundamentals across the infill Southern California industrial market, including increasing tenant demand, positive net absorption and declining vacancy—all early signs of strengthening market conditions. We are confident that our strategic actions, combined with the strength of our value creation platform, will enable Rexford to deliver outsized returns for shareholders moving forward."
Financial
The Company reported net loss attributable to common stockholders for the second quarter of $506.9 million, or $2.26 per diluted share, compared to net income of $113.4 million, or $0.48 per diluted share, in the prior year quarter. Net loss in the second quarter includes $624.8 million of impairments and $21.9 million of gains on sale of real estate, as compared to $0 and $44.4 million, respectively, for the prior year quarter. The non-cash impairments primarily reflect certain assets designated for disposition whose expected holding periods were shortened in connection with the Company's increased disposition guidance. For the six months ended June 30, 2026, net loss attributable to common stockholders was $419.0 million, or $1.86 per diluted share, compared to net income of $181.8 million, or $0.78 per diluted share, in the prior year period. Net loss in the six months ended June 30, 2026 includes $631.6 million of impairments and $48.2 million of gains on sale of real estate, as compared to $0 and $57.5 million, respectively, for the prior year period.
The Company reported its share of Core FFO for the second quarter of $141.4 million, representing a 1.2% increase, compared to $139.7 million for the prior year quarter. The Company reported Core FFO of $0.63 per diluted share, representing an increase of 6.8%, compared to $0.59 per diluted share for the prior year quarter. Company share of Core FFO increased by $1.7 million, or $0.04 per diluted share year-over-year, driven by lower general and administrative expense related to the CEO leadership transition and the benefit of share repurchases, partially offset by lower NOI from dispositions executed in the first half of 2026. For the six months ended June 30, 2026, the Company's share of Core FFO was $281.2 million, representing a 0.2% increase, compared to $280.7 million for the prior year period. For the six months ended June 30, 2026, the Company reported Core FFO of $1.24 per diluted share, representing an increase of 2.5%, compared to $1.21 per diluted share for the prior year period.
In the second quarter of 2026, the Company's Same Property Portfolio NOI and Cash NOI decreased 0.5% and increased 1.5%, respectively, compared to the prior year quarter. Same Property Portfolio NOI decrease was primarily driven by effective rental rate compression and higher bad debt, partially offset by higher average occupancy. Same Property Portfolio Cash NOI growth was positively driven by annual contractual rent increases and higher average occupancy, partially offset by higher bad debt. For the six months ended June 30, 2026, the Company's Same Property Portfolio NOI and Cash NOI increased 0.3% and 0.6%, respectively, compared to the prior year period.
Operations
Q2 2026 Leasing Activity
Releasing Spreads(1)
# of Leases
Executed
SF of
Leasing
Net
Effective
Cash
New Leases
53
840,344
(13.8) %
(19.5) %
Renewal Leases
64
1,261,446
1.4 %
(8.1) %
Total Leases
117
2,101,790
(2.8) %
(11.3) %
(1)
Net effective and cash rent statistics include leases in which there is comparable lease data. Please see the Company's supplemental financial reporting package for additional detail related to leasing activity in Q2 2026.
As of June 30, 2026, the Company's Same Property Portfolio occupancy was 95.1%. Average Same Property Portfolio occupancy for the second quarter was 95.7%. The Company's total portfolio, excluding repositioning and development assets, was 94.8% occupied and 95.0% leased, and the Company's total portfolio, including repositioning and development assets, was 90.0% occupied and 90.3% leased. The Company's improved land and industrial outdoor storage (IOS) sites, totaling approximately 8.3 million square feet or 189.7 acres, were 92.8% leased as of June 30, 2026.
Repositionings and Developments
During the second quarter of 2026, the Company executed three development and repositioning leases totaling 146,430 square feet. Subsequent to quarter end, the Company executed two leases totaling 102,025 square feet at a development project located at 3680-3880 Voyager Street and a repositioning project located at 24935-24955 Avenue Kearny. Year to date through July 23, 2026, leasing activity across the Company's repositioning and development pipeline totals 286,299 square feet.
During the second quarter of 2026, the Company stabilized two development projects totaling 196,391 square feet, representing a total investment of $98.0 million. These projects achieved a weighted average unlevered stabilized return on cost of 8.0%.
Year to date, the Company stabilized four repositioning and development projects totaling 341,280 square feet, representing a total investment of $146.6 million. These projects achieved a weighted average unlevered stabilized return on cost of 7.1%.
Dispositions
During the second quarter of 2026, the Company disposed of seven properties, totaling 571,708 square feet, for an aggregate sales price of $137.9 million, including four sites previously in the near-term development pipeline.
Year to date, the Company disposed of twelve properties totaling 886,401 square feet for an aggregate sales price of $265.3 million, including six sites previously in the near-term development pipeline.
Balance Sheet
The Company ended the second quarter of 2026 with approximately $1.3 billion of total liquidity, including $32.2 million in unrestricted cash on hand and $1.2 billion available under its unsecured revolving credit facility.
During the second quarter of 2026, the Company repurchased 2,801,307 shares of its common stock for $100 million, at a weighted average price of $35.70 per share, bringing year-to-date repurchases to $300 million. Subsequent to quarter end, the Company's Board of Directors authorized a new $1.0 billion stock repurchase program, which superseded and replaced the prior program and is authorized through July 2028. The Company has full availability under the current program.
As of June 30, 2026, the Company had $3.3 billion of outstanding debt, with a weighted average interest rate of 3.7%. Floating-rate debt exposure was limited to $14.0 million outstanding under the Company's revolving credit facility. The weighted average term-to-maturity of the Company's outstanding debt is 2.8 years with no material debt maturities until 2027.
Dividends
On July 20, 2026, the Company's Board of Directors authorized a dividend in the amount of $0.435 per share for the third quarter of 2026, payable in cash on October 15, 2026, to common stockholders and common unit holders of record as of September 30, 2026.
On July 20, 2026, the Company's Board of Directors authorized a quarterly dividend of $0.367188 per share of its Series B Cumulative Redeemable Preferred Stock and a quarterly dividend of $0.351563 per share of its Series C Cumulative Redeemable Preferred Stock, payable in cash on September 30, 2026, to preferred stockholders of record as of September 15, 2026.
Leadership Transition and Board of Directors
On April 1, 2026, Laura Clark assumed the role of Chief Executive Officer and John Nahas assumed the role of Chief Operating Officer as part of the Company's leadership succession plan. Clark, who was appointed to the Board on November 17, 2025, succeeded Co-Chief Executive Officers Howard Schwimmer and Michael Frankel, who departed from their roles on March 31, 2026. Schwimmer and Frankel continued to serve as directors on the Board until their terms expired at the 2026 Annual Meeting of Shareholders on May 19, 2026.
Guidance
The Company is updating its full year 2026 guidance as indicated below. Please refer to the Company's supplemental information package for a complete detail of guidance and the 2026 Guidance Rollforward.
The Company is announcing a disposition initiative to realign its portfolio through the planned sale of approximately $2 billion of identified non-core assets. The Company intends to recycle proceeds to increase its financial flexibility through the strengthening of its balance sheet as well as deployment toward the highest risk-adjusted return opportunities, including accretive share repurchases. Accordingly, the Company has increased its full year 2026 disposition guidance to $1.5 to $2.0 billion from $400 to $500 million.
2026 Outlook
Q2 2026
Updated Guidance
Q1 2026
Guidance
Earnings
Net (Loss) Income Attributable to Common Stockholders per diluted share(1)
($1.32) - ($1.27)
$1.22 - $1.27
Company share of Core FFO per diluted share(1)
$2.38 - $2.43
$2.37 - $2.42
Same Property Portfolio(2)
Same Property Portfolio NOI Growth - Net Effective
(1.25)% - (0.25)%
(2.0)% - (1.0)%
Same Property Portfolio NOI Growth - Cash
(0.75)% - 0.25%
(1.5)% - (0.5)%
Average Same Property Portfolio Occupancy (Full Year)
2026 Net Loss and Core FFO Guidance reflects the Company's in-place portfolio as of July 23, 2026, as well as guidance expectations related to investment activity.
(2)
2026 Same Property Portfolio is a subset of our consolidated portfolio and includes properties that were wholly owned for the period from January 1, 2025 through July 23, 2026, and excludes properties that were or will be classified as repositioning or development (current and future) or lease-up during 2025 and 2026 (unless otherwise noted), select buildings in other repositioning and properties included in the 2026 disposition guidance.
(3)
Represents estimated annualized Cash NOI for repositioning and development projects expected to stabilize in 2026, including 1315 Storm Parkway and 12118 Bloomfield Avenue, which stabilized in the first quarter, and 3211-3233 Mission Oaks Boulevard and 19900 Plummer Street, which stabilized in the second quarter.
A number of factors could impact the Company's ability to deliver results in line with its guidance, including, but not limited to, the potential impacts related to interest rates, inflation, the economy, tariffs, geopolitical risks including impacts from the war in the Middle East, the supply and demand of industrial real estate, the availability and terms of financing to the Company or to potential acquirers of real estate and the timing and yields for divestment and investment. There can be no assurance that the Company can achieve such results.
Supplemental Information and Earnings Presentation
The Company's supplemental information package as well as an earnings presentation are available on the Company's investor relations website at ir.rexfordindustrial.com.
Earnings Release, Investor Conference Webcast and Conference Call
A conference call with executive management will be held on Friday, July 24, 2026, at 11:00 a.m. Eastern Time.
To participate in the live telephone conference call, please access the following dial-in numbers at least five minutes prior to the start time using Meeting ID 401 760 274.
1 (585) 542-9983 (Local)
1 (833) 461-5787 (Toll-Free)
A live webcast and replay of the conference call will also be available at ir.rexfordindustrial.com.
About Rexford Industrial
Rexford Industrial creates value by investing in, operating and repositioning industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation over the long term. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities. As of June 30, 2026, Rexford Industrial's high-quality, irreplaceable portfolio comprised 409 properties with approximately 49.9 million rentable square feet occupied by a stable and diverse tenant base. Structured as a real estate investment trust (REIT) listed on the New York Stock Exchange under the ticker "REXR," Rexford Industrial is an S&P MidCap 400 Index member. For more information, please visit rexfordindustrial.com.
Forward Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. While forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, they are not guarantees of future performance. In addition, projections, assumptions and estimates of our future performance and the future performance of the industry in which we operate are necessarily subject to a high degree of uncertainty and risk due to a variety of factors, including those described above. These and other factors could cause results to differ materially from those expressed in our estimates and beliefs and in the estimates prepared by independent parties. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the reports and other filings by the Company with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and other filings with the Securities and Exchange Commission. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.
Definitions / Discussion of Non-GAAP Financial Measures
Funds from Operations (FFO): We calculate FFO in accordance with the standards established by the National Association of Real Estate Investment Trusts ("NAREIT"). FFO represents net income (loss) (computed in accordance with GAAP), excluding gains (or losses) from sales of depreciable operating property, gains (or losses) from sales of assets incidental to our business, impairment losses of depreciable operating property or assets incidental to our business, real estate related depreciation and amortization (excluding amortization of deferred financing costs and amortization of above/below-market lease intangibles) and after adjustments for unconsolidated joint ventures. Management uses FFO as a supplemental performance measure because, in excluding real estate related depreciation and amortization, gains and losses from property dispositions, other than temporary impairments of unconsolidated real estate entities, and impairment on our investment in real estate, it provides a performance measure that, when compared year over year, captures trends in occupancy rates, rental rates and operating costs. We also believe that, as a widely recognized measure of performance used by other REITs, FFO may be used by investors as a basis to compare our operating performance with that of other REITs. However, because FFO excludes depreciation and amortization and captures neither the changes in the value of our properties that result from use or market conditions nor the level of capital expenditures and leasing commissions necessary to maintain the operating performance of our properties, all of which have real economic effects and could materially impact our results from operations, the utility of FFO as a measure of our performance is limited. Other equity REITs may not calculate or interpret FFO in accordance with the NAREIT definition as we do, and, accordingly, our FFO may not be comparable to such other REITs' FFO. FFO should not be used as a measure of our liquidity and is not indicative of funds available for our cash needs, including our ability to pay dividends. FFO should be considered only as a supplement to net income or loss computed in accordance with GAAP as a measure of our performance. A reconciliation of net income or loss, the nearest GAAP equivalent, to FFO is set forth below in the Financial Statements and Reconciliations section. "Company Share of FFO" reflects FFO attributable to common stockholders, which excludes amounts allocable to noncontrolling interests, participating securities and preferred stockholders.
Core Funds from Operations (Core FFO): We calculate Core FFO by adjusting FFO for non-comparable items outlined in the "Reconciliation of Net (Loss) Income to Funds From Operations and Core Funds From Operations" table, which is located in the Financial Statements and Reconciliations section below. We believe that Core FFO is a useful supplemental measure and that by adjusting for items that are not considered by the Company to be part of its on-going operating performance, provides a more meaningful and consistent comparison of the Company's operating and financial performance period-over-period. Because these adjustments have a real economic impact on our financial condition and results from operations, the utility of Core FFO as a measure of our performance is limited. Other REITs may not calculate Core FFO in a consistent manner. Accordingly, our Core FFO may not be comparable to other REITs' Core FFO. Core FFO should be considered only as a supplement to net income or loss computed in accordance with GAAP as a measure of our performance. "Company Share of Core FFO" reflects Core FFO attributable to common stockholders, which excludes amounts allocable to noncontrolling interests, participating securities and preferred stockholders.
Reconciliation of Net Loss Attributable to Common Stockholders per Diluted Share Guidance to Company Share of Core FFO per Diluted Share Guidance:
The following is a reconciliation of the Company's 2026 guidance range of net income attributable to common stockholders per diluted share, the most directly comparable forward-looking GAAP financial measure, to Company share of Core FFO per diluted share.
2026 Estimate
Low
High
Net loss attributable to common stockholders
$ (1.32)
$ (1.27)
Company share of depreciation and amortization
1.21
1.21
Company share of impairment of real estate
2.71
2.71
Company share of gains on sale of real estate
(0.21)
(0.21)
Company share of FFO
$ 2.39
$ 2.44
Add: Core FFO adjustments(1)
(0.01)
(0.01)
Company share of Core FFO
$ 2.38
$ 2.43
(1)
Core FFO adjustments consist of (i) Co-CEO transition costs, (ii) severance costs, (iii) other nonrecurring expenses and (iv) write-offs of below-market lease intangibles related to unexercised renewal options.
Net Operating Income (NOI): NOI is a non-GAAP measure, which includes the revenue and expense directly attributable to our real estate properties. NOI is calculated as rental income from real estate operations less property expenses (before interest expense, depreciation and amortization). We use NOI as a supplemental performance measure because, in excluding real estate depreciation and amortization expense, gains (or losses) from property dispositions, impairment losses of depreciable operating property and other non-operating items, it provides a performance measure that, when compared year over year, captures trends in occupancy rates, rental rates and operating costs. We also believe that NOI will be useful to investors as a basis to compare our operating performance with that of other REITs. However, because NOI excludes depreciation and amortization expense and captures neither the changes in the value of our properties that result from use or market conditions, nor the level of capital expenditures and leasing commissions necessary to maintain the operating performance of our properties (all of which have a real economic effect and could materially impact our results from operations), the utility of NOI as a measure of our performance is limited. Other equity REITs may not calculate NOI in a similar manner and, accordingly, our NOI may not be comparable to such other REITs' NOI. Accordingly, NOI should be considered only as a supplement to net income or loss as a measure of our performance. NOI should not be used as a measure of our liquidity, nor is it indicative of funds available to fund our cash needs.
NOI should not be used as a substitute for cash flow from operating activities in accordance with GAAP. We use NOI to help evaluate the performance of the Company as a whole, as well as the performance of our Same Property Portfolio. A calculation of NOI for our Same Property Portfolio, as well as a reconciliation of net income or loss to NOI for our Same Property Portfolio, is set forth below in the Financial Statements and Reconciliations section.
Cash NOI: Cash NOI is a non-GAAP measure, which we calculate by adding or subtracting from NOI: (i) amortization of above/(below) market lease intangibles and amortization of other deferred rent resulting from sale leaseback transactions with below market leaseback payments and (ii) straight-line rent adjustments. We use Cash NOI, together with NOI, as a supplemental performance measure. Cash NOI should not be used as a measure of our liquidity, nor is it indicative of funds available to fund our cash needs. Cash NOI should not be used as a substitute for cash flow from operating activities computed in accordance with GAAP. We use Cash NOI to help evaluate the performance of the Company as a whole, as well as the performance of our Same Property Portfolio. A calculation of Cash NOI for our Same Property Portfolio, as well as a reconciliation of net income or loss to Cash NOI for our Same Property Portfolio, is set forth below in the Financial Statements and Reconciliations section.
Same Property Portfolio: Our 2026 Same Property Portfolio is a subset of our total portfolio and includes properties that were wholly owned by us for the period from January 1, 2025 through June 30, 2026, and excludes (i) properties that were acquired or sold during the period from January 1, 2025 through June 30, 2026, and (ii) properties acquired prior to January 1, 2025 that were classified as repositioning/development (current and future) or lease-up during 2025 and 2026 and select buildings in "Other Repositioning," which we believe will significantly affect the properties' results during the comparative periods. As of June 30, 2026, our 2026 Same Property Portfolio consisted of buildings aggregating 41.6 million rentable square feet at 341 of our properties.
Properties and Space Under Repositioning: Typically defined as properties or units where a significant amount of space is held vacant in order to implement capital improvements that improve the functionality (not including basic refurbishments, i.e., paint and carpet), cash flow and value of that space. A repositioning is generally considered complete once the investment is fully or nearly fully deployed and the property is available for occupancy.
Properties Under Development: Typically defined as properties where we plan to fully or partially demolish an existing building(s) due to building obsolescence and/or a property with excess or vacant land where we plan to construct a ground-up building.
Stabilization Date — Repositioning/Development Properties: We consider a repositioning/development property to be stabilized at the earlier of the following: (i) upon rent commencement and achieving 90% occupancy or (ii) one year from the date of completion of repositioning/development construction work.
Net Debt to Enterprise Value: As of June 30, 2026, we had consolidated indebtedness of $3.3 billion, reflecting a net debt to enterprise value of approximately 29.1%. Our enterprise value is defined as the sum of the liquidation preference of our outstanding preferred stock and preferred units plus the market value of our common stock excluding shares of nonvested restricted stock, plus the aggregate value of common units not owned by us, plus the value of our net debt. Our Net Debt is defined as our consolidated indebtedness less cash and cash equivalents.
Net Debt to Adjusted EBITDAre: Calculated as Net Debt divided by annualized Adjusted EBITDAre. We calculate Adjusted EBITDAre as net income or loss (computed in accordance with GAAP), before interest expense, tax expense, depreciation and amortization, gains (or losses) from sales of depreciable operating property, impairment losses of depreciable property, non-cash stock-based compensation expense, write-offs of below market lease intangibles related to unexercised renewal options, acquisition expenses, the pro-forma effects of dispositions and other nonrecurring expenses. We believe that Adjusted EBITDAre is helpful to investors as a supplemental measure of our operating performance as a real estate company because it is a direct measure of the actual operating results of our industrial properties. We also use this measure in ratios to compare our performance to that of our industry peers. In addition, we believe Adjusted EBITDAre is frequently used by securities analysts, investors and other interested parties in the evaluation of Equity REITs. However, because Adjusted EBITDAre is calculated before recurring cash charges including interest expense and income taxes, and is not adjusted for capital expenditures or other recurring cash requirements of our business, its utility as a measure of our liquidity is limited. Accordingly, Adjusted EBITDAre should not be considered an alternative to cash flow from operating activities (as computed in accordance with GAAP) as a measure of our liquidity. Adjusted EBITDAre should not be considered as an alternative to net income or loss as an indicator of our operating performance. Other Equity REITs may calculate Adjusted EBITDAre differently than we do; accordingly, our Adjusted EBITDAre may not be comparable to such other Equity REITs' Adjusted EBITDAre. Adjusted EBITDAre should be considered only as a supplement to net income or loss (as computed in accordance with GAAP) as a measure of our performance. A reconciliation of net income or loss, the nearest GAAP equivalent, to Adjusted EBITDAre is set forth below in the Financial Statements and Reconciliations section.
Contact
Doug Bettisworth
SVP, Investor Relations and Capital Markets
(310) 943-7157
[email protected]
Financial Statements and Reconciliations
Rexford Industrial Realty, Inc.
Consolidated Balance Sheets
(In thousands except share data)
June 30, 2026
December 31, 2025
(unaudited)
ASSETS
Land
$ 7,104,413
$ 7,689,921
Buildings and improvements
4,541,066
4,677,318
Tenant improvements
206,540
198,161
Furniture, fixtures, and equipment
132
132
Construction in progress
324,365
451,109
Total real estate held for investment
12,176,516
13,016,641
Accumulated depreciation
(1,163,226)
(1,165,792)
Investments in real estate, net
11,013,290
11,850,849
Cash and cash equivalents
32,226
165,778
Loan receivable, net
123,934
123,704
Rents and other receivables, net
12,132
13,958
Deferred rent receivable, net
210,474
190,376
Deferred leasing costs, net
90,864
87,745
Deferred loan costs, net
5,877
6,886
Acquired lease intangible assets, net
114,489
140,627
Acquired indefinite-lived intangible asset
5,156
5,156
Interest rate swap assets
9,247
2,025
Other assets
16,987
25,609
Total Assets
$ 11,634,676
$ 12,612,713
LIABILITIES & EQUITY
Liabilities
Notes payable
$ 3,263,724
$ 3,251,909
Interest rate swap liability
3
829
Accounts payable, accrued expenses and other liabilities
99,101
120,849
Dividends and distributions payable
100,960
103,399
Acquired lease intangible liabilities, net
105,856
116,487
Tenant security deposits
92,386
92,444
Tenant prepaid rents
79,518
88,777
Total Liabilities
3,741,548
3,774,694
Equity
Rexford Industrial Realty, Inc. stockholders' equity
Preferred stock, $0.01 par value per share, 10,050,000 shares authorized:
5.875% series B cumulative redeemable preferred stock, 3,000,000 shares outstanding at June 30, 2026
and December 31, 2025 ($75,000 liquidation preference)
72,443
72,443
5.625% series C cumulative redeemable preferred stock, 3,450,000 shares outstanding at June 30, 2026
and December 31, 2025 ($86,250 liquidation preference)
83,233
83,233
Common Stock,$0.01 par value per share, 489,950,000 authorized and 222,989,057 and 231,580,135
shares outstanding at June 30, 2026 and December 31, 2025, respectively
2,230
2,316
Additional paid in capital
8,631,341
8,945,123
Cumulative distributions in excess of earnings
(1,255,153)
(642,130)
Accumulated other comprehensive income (loss)
7,473
(422)
Total stockholders' equity
7,541,567
8,460,563
Noncontrolling interests
351,561
377,456
Total Equity
7,893,128
8,838,019
Total Liabilities and Equity
$ 11,634,676
$ 12,612,713
Rexford Industrial Realty, Inc.
Consolidated Statements of Operations
(Unaudited and in thousands, except per share data)
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
2026
2025
REVENUES
Rental income
$ 242,996
$ 241,568
$ 485,137
$ 490,389
Management and leasing services
—
132
—
274
Interest income
2,510
7,807
5,447
11,131
TOTAL REVENUES
245,506
249,507
490,584
501,794
OPERATING EXPENSES
Property expenses
56,214
55,298
112,977
110,559
General and administrative
13,693
19,752
28,618
39,620
Depreciation and amortization
73,479
71,188
146,412
157,928
TOTAL OPERATING EXPENSES
143,386
146,238
288,007
308,107
OTHER (EXPENSES) INCOME
Other income
3,500
—
4,850
—
Other expenses, net
2,001
(244)
1,899
(2,483)
Interest expense
(28,571)
(26,701)
(55,171)
(53,989)
Impairment of real estate
(624,754)
—
(631,578)
—
Debt extinguishment and modification expenses
—
(291)
—
(291)
Gains on sale of real estate
21,893
44,361
48,174
57,518
TOTAL OTHER (EXPENSES) INCOME
(625,931)
17,125
(631,826)
755
NET (LOSS) INCOME
(523,811)
120,394
(429,249)
194,442
Less: net loss (income) attributable to noncontrolling interests
19,665
(4,060)
16,290
(6,909)
NET (LOSS) INCOME ATTRIBUTABLE TO REXFORD INDUSTRIAL REALTY, INC.
(504,146)
116,334
(412,959)
187,533
Less: preferred stock dividends
(2,315)
(2,315)
(4,629)
(4,629)
Less: earnings attributable to participating securities
(441)
(592)
(1,449)
(1,131)
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS
$ (506,902)
$ 113,427
$ (419,037)
$ 181,773
Net (loss) income attributable to common stockholders per share – basic
$ (2.26)
$ 0.48
$ (1.85)
$ 0.78
Net (loss) income attributable to common stockholders per share – diluted
$ (2.26)
$ 0.48
$ (1.86)
$ 0.78
Weighted-average shares of common stock outstanding – basic
223,812
236,099
226,050
231,771
Weighted-average shares of common stock outstanding – diluted
223,812
236,099
234,636
231,771
Rexford Industrial Realty, Inc.
Same Property Portfolio Occupancy and NOI and Cash NOI
(Unaudited, dollars in thousands)
Same Property Portfolio Occupancy
June 30,
2026
2025
Change
(basis points)
Quarterly Weighted Average Occupancy:(1)
Los Angeles County
96.5 %
93.2 %
330 bps
Orange County
95.9 %
97.6 %
(170) bps
Riverside / San Bernardino County
93.3 %
97.0 %
(370) bps
San Diego County
97.5 %
98.0 %
(50) bps
Ventura County
94.6 %
91.4 %
320 bps
Same Property Portfolio Weighted Average Occupancy
95.7 %
94.7 %
100 bps
Ending Occupancy:
95.1 %
94.8 %
30 bps
(1)
Calculated by averaging the occupancy rate at the end of each month in 2Q-2026 and March 2026 (for 2Q-2026) and the end of each month in 2Q-2025 and March 2025 (for 2Q-2025).
Same Property Portfolio NOI and Cash NOI
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
$ Change
% Change
2026
2025
$ Change
% Change
Rental income(1)
$ 210,974
$ 210,887
$ 87
0.0 %
$ 422,543
$ 418,561
$ 3,982
1.0 %
Property expenses
46,811
45,893
918
2.0 %
94,045
91,171
2,874
3.2 %
Same Property Portfolio NOI
$ 164,163
$ 164,994
$ (831)
(0.5) %
$ 328,498
$ 327,390
$ 1,108
0.3 %
Straight line rental revenue adjustment
(4,938)
(6,328)
1,390
(22.0) %
(15,235)
(13,835)
(1,400)
10.1 %
Above/(below) market lease revenue adjustments(1)
(3,093)
(4,829)
1,736
(35.9) %
(7,263)
(9,401)
2,138
(22.7) %
Same Property Portfolio Cash NOI
$ 156,132
$ 153,837
$ 2,295
1.5 %
$ 306,000
$ 304,154
$ 1,846
0.6 %
(1)
Same Property Portfolio rental income and above/(below) market lease revenue adjustments for the three months ended June 30, 2026 exclude $497 of income recognized from the write-off of a below-market lease intangibles attributable to below-market fixed rate renewal options that were not exercised upon expiration of the initial lease term.
Rexford Industrial Realty, Inc.
Reconciliation of Net (Loss) Income to NOI, Cash NOI, Same Property Portfolio NOI and
Same Property Portfolio Cash NOI
(Unaudited and in thousands)
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
2026
2025
Net (loss) income
$ (523,811)
$ 120,394
$ (429,249)
$ 194,442
General and administrative
13,693
19,752
28,618
39,620
Depreciation and amortization
73,479
71,188
146,412
157,928
Other expenses, net
(2,001)
244
(1,899)
2,483
Interest expense
28,571
26,701
55,171
53,989
Debt extinguishment and modification expenses
—
291
—
291
Management and leasing services
—
(132)
—
(274)
Other income
(3,500)
—
(4,850)
—
Interest income
(2,510)
(7,807)
(5,447)
(11,131)
Impairment of real estate
624,754
—
631,578
—
Gains on sale of real estate
(21,893)
(44,361)
(48,174)
(57,518)
Net operating income (NOI)
$ 186,782
$ 186,270
$ 372,160
$ 379,830
Straight line rental revenue adjustment
(9,967)
(6,918)
(25,103)
(12,435)
Above/(below) market lease revenue adjustments
(3,805)
(5,788)
(8,452)
(14,974)
Cash NOI
$ 173,010
$ 173,564
$ 338,605
$ 352,421
NOI
$ 186,782
$ 186,270
$ 372,160
$ 379,830
Non-Same Property Portfolio rental income
(32,022)
(30,681)
(62,594)
(71,828)
Non-Same Property Portfolio property expenses
9,403
9,405
18,932
19,388
Same Property Portfolio NOI
$ 164,163
$ 164,994
$ 328,498
$ 327,390
Straight line rental revenue adjustment
(4,938)
(6,328)
(15,235)
(13,835)
Above/(below) market lease revenue adjustments
(3,093)
(4,829)
(7,263)
(9,401)
Same Property Portfolio Cash NOI
$ 156,132
$ 153,837
$ 306,000
$ 304,154
Rexford Industrial Realty, Inc.
Reconciliation of Net (Loss) Income to Funds From Operations and Core Funds From Operations
(Unaudited and in thousands, except per share data)
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
2026
2025
Net (loss) income
$ (523,811)
$ 120,394
$ (429,249)
$ 194,442
Adjustments:
Depreciation and amortization
73,479
71,188
146,412
157,928
Impairment of real estate
624,754
—
631,578
—
Gains on sale of real estate
(21,893)
(44,361)
(48,174)
(57,518)
Funds From Operations (FFO)
$ 152,529
$ 147,221
$ 300,567
$ 294,852
Less: preferred stock dividends
(2,315)
(2,315)
(4,629)
(4,629)
Less: FFO attributable to noncontrolling interests(1)
(5,726)
(4,962)
(11,008)
(10,356)
Less: FFO attributable to participating securities(2)
(680)
(728)
(2,114)
(1,478)
Company share of FFO
$ 143,808
$ 139,216
$ 282,816
$ 278,389
Company Share of FFO per common share – basic
$ 0.64
$ 0.59
$ 1.25
$ 1.20
Company Share of FFO per common share – diluted
$ 0.64
$ 0.59
$ 1.25
$ 1.20
FFO
$ 152,529
$ 147,221
$ 300,567
$ 294,852
Adjustments:
Acquisition expenses(3)
—
23
—
102
Debt extinguishment and modification expenses
—
291
—
291
Non-capitalizable demolition costs(3)
—
—
—
365
Co-CEO transition costs(3)(4)
(2,330)
—
(2,330)
—
Severance costs(3)(5)
269
199
269
1,682
Other nonrecurring expenses(3)(6)
45
—
107
—
Write-offs of below-market lease intangibles related to unexercised renewal options(7)
(497)
—
(497)
—
Core FFO
$ 150,016
$ 147,734
$ 298,116
$ 297,292
Less: preferred stock dividends
(2,315)
(2,315)
(4,629)
(4,629)
Less: Core FFO attributable to noncontrolling interest(1)
(5,631)
(4,979)
(10,915)
(10,440)
Less: Core FFO attributable to participating securities(2)
(668)
(731)
(1,412)
(1,491)
Company share of Core FFO
$ 141,402
$ 139,709
$ 281,160
$ 280,732
Company share of Core FFO per common share – basic
$ 0.63
$ 0.59
$ 1.24
$ 1.21
Company share of Core FFO per common share – diluted
$ 0.63
$ 0.59
$ 1.24
$ 1.21
Weighted-average shares of common stock outstanding – basic
223,812
236,099
226,050
231,771
Weighted-average shares of common stock outstanding – diluted
223,812
236,099
226,050
231,771
(1)
Noncontrolling interests relate to interests in the Company's operating partnership, represented by common units and preferred units (Series 2 & 3 CPOP units) of partnership interests in the operating partnership that are owned by unit holders other than the Company. On March 6, 2025, we exercised our conversion right to convert all remaining Series 2 CPOP units into OP Units.
(2)
Participating securities include unvested shares of restricted stock, unvested LTIP units and unvested performance units.
(3)
Amounts are included in the line item "Other expenses, net" in the consolidated statements of operations.
(4)
Reflects a decrease in share-based compensation expense related to updated estimates of Core FFO growth achievement for certain performance awards held by former Co-CEOs and employer payroll taxes associated with the vesting of transition-related restricted stock awards in April 2026.
(5)
Includes costs associated with workforce reduction and workforce reorganization.
(6)
Reflects nonrecurring advisory service costs.
(7)
Reflects the write-off of the portion of a below-market lease intangible attributable to below-market fixed rate renewal options that were not exercised upon expiration of the initial lease term.
Rexford Industrial Realty, Inc.
Reconciliation of Net Loss to Adjusted EBITDAre
(Unaudited and in thousands)
Three Months Ended
June 30, 2026
Net loss
$ (523,811)
Interest expense
28,571
Depreciation and amortization
73,479
Impairment of real estate
624,754
Gains on sale of real estate
(21,893)
EBITDAre
$ 181,100
Stock-based compensation amortization
3,666
Write-offs of below-market lease intangibles related to unexercised renewal options(1)
(497)
Co-CEO transition costs(2)
(2,330)
Other nonrecurring expenses
45
Pro forma effect of dispositions(3)
68
Adjusted EBITDAre
$ 182,052
(1)
Reflects the write-off of the portion of a below-market lease intangible attributable to below-market fixed rate renewal options that were not exercised upon expiration of the initial lease term.
(2)
Reflects a decrease in share-based compensation expense related to updated estimates of Core FFO growth achievement for certain performance awards held by former Co-CEOs and payroll taxes associated with the vesting of transition-related restricted stock awards in April 2026.
(3)
Represents the impact on second quarter 2026 EBITDAre of properties disposed of during the quarter as if such dispositions had occurred on April 1, 2026.
