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NEW YORK, July 21, 2026 (GLOBE NEWSWIRE) -- Cipher Digital Inc.  (NASDAQ: CIFR) (“Cipher” or the “Company”) today announced it will provide a business update and release its second quarter 2026 financial results before U.S. markets open on Tuesday, August 4th, 2026. Cipher will host a conference call and webcast that day at 8:00 a.m.

MSCI Inc. (MSCI) Q2 2026 Earnings Call Transcript

FORT WORTH, Texas, July 21, 2026 (GLOBE NEWSWIRE) -- RESOURCES CORPORATION (NYSE: RRC) today announced its second quarter 2026 financial results.

Second Quarter 2026 Highlights –

Cash flow from operating activities of $235 millionCash flow from operations, before working capital changes, of $333 millionRepurchased $78 million of shares and paid $24 million in dividendsRealized price, including hedges, was $3.53 per mcfe – a $0.64 premium versus NYMEX natural gasPre-hedge NGL realizations of $29.10 per barrel, a premium of $3.49 over the Mont Belvieu equivalentNatural gas differential, including basis hedging, of ($0.47) per mcf to NYMEXProduction averaged 2.30 Bcfe per day, approximately 67% natural gasRecord completion efficiency with 1,900 stages completed by two crews and single-day record of 22 hours pumpingRecord drilling efficiency of nearly two miles drilled in a single dayCapital spending was $222 million, approximately 33% of the annual 2026 budget Commenting on the results, Dennis Degner, the Company’s CEO said, “Range’s year-to-date results reflect continued progress on our multi-year growth plan, which was supported by record drilling and completion efficiencies in the most recent quarter. Range’s strategic access to international markets drove a record NGL premium for the quarter, bolstering margins. The resulting strong free cash flow funded shareholder returns through dividends and share repurchases while advancing our operational momentum.

Looking beyond our announced development plans through 2027, we expect steadily increasing demand for natural gas will require additional supply from Appalachia, as the lowest-cost, longest duration natural gas basin in the United States. Range’s strong financial position and operational momentum provide us with the flexibility to shape our capital reinvestment plans to meet this demand as it materializes, while prioritizing returns of capital to shareholders. We believe Range’s extensive Marcellus inventory, diverse marketing access and advantaged full-cycle cost structure provide the necessary foundation for supplying both domestic and international energy demand growth while consistently delivering returns to shareholders for decades to come.”

Financial Discussion

Except for generally accepted accounting principles (“GAAP”) reported amounts, specific expense categories exclude non-cash impairments, unrealized mark-to-market adjustment on derivatives, non-cash stock compensation and other items shown separately on the attached tables. “Unit costs” as used in this release are composed of direct operating, transportation, gathering, processing and compression, taxes other than income, general and administrative, interest and depletion, depreciation and amortization costs divided by production. See “Non-GAAP Financial Measures” for a definition of non-GAAP financial measures and the accompanying tables that reconcile each non-GAAP measure to its most directly comparable GAAP financial measure.

Second Quarter 2026 Results

GAAP revenues and other income for second quarter 2026 totaled $834 million, GAAP net cash provided from operating activities (including changes in working capital) was $235 million, and GAAP net income was $195 million ($0.83 per diluted share). Second quarter earnings results include a $74 million mark-to-market derivative gain due to decreases in commodity prices.

Cash flow from operations before changes in working capital, a non-GAAP measure, was $333 million. Adjusted net income comparable to analysts’ estimates, a non-GAAP measure, was $186 million ($0.79 per diluted share) in second quarter 2026.

The following table details Range’s second quarter 2026 unit costs per mcfe(a):

Expenses 2Q 2026
(per mcfe) 2Q 2025
(per mcfe)  Increase
(Decrease)        Direct operating(a) $0.13 $0.11  18%Transportation, gathering,
processing and compression(a) 1.52 1.52  0%Taxes other than income 0.03 0.04  (25)%General and administrative(a) 0.18 0.16  13%Interest expense(a) 0.07 0.13  (46)%Total cash unit costs(b) 1.92 1.97  (3)%Depletion, depreciation and
amortization (DD&A) 0.45 0.46  (2)%Total unit costs plus DD&A(b) $2.37 $2.43  (2)%        (a) Excludes stock-based compensation, one-time settlements, and amortization of debt issuance costs.
(b) Totals may not add due to rounding.

The following table details Range’s average production and realized pricing for second quarter 2026(a):

 2Q26 Production & Realized Pricing
 Natural Gas
(mcf)
 Oil
(bbl)
 NGLs
(bbl)
 Natural Gas
Equivalent (mcfe)
           Net production per day1,548,871 6,475 118,113 2,296,399        Average NYMEX price$2.89 $93.58 $25.61  Differential, including basis hedging(0.47) (9.62) 3.49  Realized prices before NYMEX hedges2.42 83.96 29.10 3.37Settled NYMEX hedges0.36 (17.50) (0.67) 0.16Average realized prices after hedges$2.79 $66.45 $28.44 $3.53 (a) Totals may not add due to rounding.

Second quarter 2026 natural gas, NGLs and oil price realizations (including the impact of cash-settled hedges and derivative settlements) averaged $3.53 per mcfe.

The average natural gas price, including the impact of basis hedging, was $2.42 per mcf, or a ($0.47) per mcf differential to NYMEX. Range is improving its 2026 natural gas differential to average ($0.35) to ($0.40) relative to NYMEX.Range’s pre-hedge NGL price during the quarter was $29.10 per barrel, approximately $3.49 above the Mont Belvieu weighted equivalent. Range is improving its full-year NGL price guidance to a range of +$2.00 to +$2.50 relative to a Mont Belvieu equivalent barrel.Crude oil and condensate price realizations, before realized hedges, averaged $83.96 per barrel, or $9.62 below WTI (West Texas Intermediate). Range is improving its 2026 condensate differential to average ($10.00) to ($12.00) relative to WTI. Financial Position and Repurchase Activity

As of June 30, 2026, Range had net debt outstanding of approximately $881 million, consisting of $500 million of senior notes and $381 million on the credit facility.

During the quarter, Range repurchased 2,000,000 shares at an average price of approximately $39.18 per share. As of June 30, 2026, the Company had $1.4 billion of availability under the share repurchase program.

Capital Expenditures and Operational Activity

Second quarter 2026 drilling and completion expenditures were $204 million. In addition, during the quarter, approximately $8 million was invested in acreage, and $10 million was invested in infrastructure, pneumatic upgrades, and other investments. Second quarter capital spending represented approximately 33% of Range’s total capital budget in 2026.

During the quarter, Range drilled ~190,000 lateral feet across 11 wells, while turning to sales ~300,000 feet across 21 wells. The table below summarizes expected 2026 activity plans regarding the number of wells to sales in each area.

 Wells TIL
1H 2026 Remaining
2026 Planned Wells
TIL in 2026Liquids Rich31 19 50Dry Gas7 11 18Total Appalachia38 30 68
Guidance – 2026

Capital & Production Guidance

Range’s 2026 all-in capital budget is $650 million - $700 million. Annual production is expected to be approximately 2.35 - 2.40 Bcfe per day in 2026. Liquids are expected to be over 30% of production.

Full Year 2026 Expense Guidance

Direct operating expense:$0.12 - $0.13 per mcfeTransportation, gathering, processing and compression expense (GP&T):$1.55 - $1.60 per mcfeTaxes other than income:$0.03 - $0.04 per mcfeExploration expense:$22 - $28 millionG&A expense:$0.17 - $0.18 per mcfeNet Interest expense:$0.07 - $0.09 per mcfeDD&A expense:$0.45 - $0.46 per mcfeNet brokered gas marketing expense:$8 - $12 million
Updated Full Year 2026 Price Guidance

Based on recent market indications, Range expects to average the following price differentials for its production in 2026.

 Updated Guidance Prior GuidanceFY 2026 Natural Gas:(1)NYMEX minus $0.35 to $0.40 NYMEX minus $0.35 to $0.45FY 2026 Natural Gas Liquids:(2)MB plus $2.00 to $2.50 per barrel MB plus $1.25 to $2.50 per barrelFY 2026 Oil/Condensate:WTI minus $10.00 to $12.00 WTI minus $10.00 to $14.00 (1) Includes basis hedging(2) Mont Belvieu-equivalent pricing based on weighting of 53% ethane, 27% propane, 8% normal butane, 4% iso-butane and 8% natural gasoline.
Hedging Status

Range hedges portions of its expected future production volumes to increase the predictability of cash flow and maintain a strong, flexible financial position. Please see the detailed hedging schedule posted on the Range website under Investor Relations - Financial Information.

Range has also hedged basis across the Company’s numerous natural gas sales points to limit volatility between benchmark and regional prices. The combined fair value of natural gas basis hedges as of June 30, 2026, was a net loss of $10.6 million.

Conference Call Information

A conference call to review the financial results is scheduled on Wednesday, July 22 at 8:00 AM Central Time (9:00 AM Eastern Time). Please click here to pre-register for the conference call and obtain a dial in number with passcode.

A simultaneous webcast of the call may be accessed at www.rangeresources.com. The webcast will be archived for replay on the Company's website until August 22nd.

Non-GAAP Financial Measures

To supplement the presentation of its financial results prepared in accordance with generally accepted accounting principles (GAAP), the Company’s earnings press release contains certain financial measures that are not presented in accordance with GAAP. Management believes certain non-GAAP measures may provide financial statement users with meaningful supplemental information for comparisons within the industry. These non-GAAP financial measures may include, but are not limited to Net Income, excluding certain items, Cash flow from operations before changes in working capital, realized prices, Net debt and Cash margin.

Adjusted net income comparable to analysts’ estimates as set forth in this release represents income or loss from operations before income taxes adjusted for certain non-cash items (detailed in the accompanying table) less income taxes. We believe adjusted net income comparable to analysts’ estimates is calculated on the same basis as analysts’ estimates and that many investors use this published research in making investment decisions and evaluating operational trends of the Company and its performance relative to other oil and gas producing companies. Diluted earnings per share (adjusted) as set forth in this release represents adjusted net income comparable to analysts’ estimates on a diluted per share basis. A table is included which reconciles income or loss from operations to adjusted net income comparable to analysts’ estimates and diluted earnings per share (adjusted). On its website, the Company provides additional comparative information on prior periods.

Cash flow from operations before changes in working capital represents net cash provided by operations before changes in working capital and exploration expense adjusted for certain non-cash compensation items. Cash flow from operations before changes in working capital (sometimes referred to as “adjusted cash flow”) is widely accepted by the investment community as a financial indicator of an oil and gas company’s ability to generate cash to internally fund exploration and development activities and to service debt. Cash flow from operations before changes in working capital is also useful because it is widely used by professional research analysts in valuing, comparing, rating and providing investment recommendations of companies in the oil and gas exploration and production industry. In turn, many investors use this published research in making investment decisions. Cash flow from operations before changes in working capital is not a measure of financial performance under GAAP and should not be considered as an alternative to cash flows from operations, investing, or financing activities as an indicator of cash flows, or as a measure of liquidity. A table is included which reconciles net cash provided by operations to cash flow from operations before changes in working capital as used in this release. On its website, the Company provides additional comparative information on prior periods for cash flow, cash margins and non-GAAP earnings as used in this release.

The cash prices realized for oil and natural gas production, including the amounts realized on cash-settled derivatives and net of transportation, gathering, processing and compression expense, is a critical component in the Company’s performance tracked by investors and professional research analysts in valuing, comparing, rating and providing investment recommendations and forecasts of companies in the oil and gas exploration and production industry. In turn, many investors use this published research in making investment decisions. Due to the GAAP disclosures of various derivative transactions and third-party transportation, gathering, processing and compression expense, such information is now reported in various lines of the income statement. The Company believes that it is important to furnish a table reflecting the details of the various components of each income statement line to better inform the reader of the details of each amount and provide a summary of the realized cash-settled amounts and third-party transportation, gathering, processing and compression expense, which were historically reported as natural gas, NGLs and oil sales. This information is intended to bridge the gap between various readers’ understanding and fully disclose the information needed.

Net debt is calculated as total debt less cash and cash equivalents. The Company believes this measure is helpful to investors and industry analysts who utilize Net debt for comparative purposes across the industry.

The Company discloses in this release the detailed components of many of the single line items shown in the GAAP financial statements included in the Company’s Annual or Quarterly Reports on Form 10-K or 10-Q. The Company believes that it is important to furnish this detail of the various components comprising each line of the Statements of Operations to better inform the reader of the details of each amount, the changes between periods and the effect on its financial results.

We believe that the presentation of PV10 value of our proved reserves is a relevant and useful metric for our investors as supplemental disclosure to the standardized measure, or after-tax amount, because it presents the discounted future net cash flows attributable to our proved reserves before taking into account future corporate income taxes and our current tax structure. While the standardized measure is dependent on the unique tax situation of each company, PV10 is based on prices and discount factors that are consistent for all companies. Because of this, PV10 can be used within the industry and by credit and security analysts to evaluate estimated net cash flows from proved reserves on a more comparable basis.

RANGE RESOURCES CORPORATION (NYSE: RRC) is a leading U.S. independent natural gas and NGL producer with operations focused in the Appalachian Basin. The Company is headquartered in Fort Worth, Texas. More information about Range can be found at www.rangeresources.com.

Included within this release are certain “forward-looking statements” within the meaning of the federal securities laws, including the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, that are not limited to historical facts, but reflect Range’s current beliefs, expectations or intentions regarding future events.  Words such as “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “outlook”, “estimate,” “predict,” “potential,” “pursue,” “target,” “continue,” and similar expressions are intended to identify such forward-looking statements.

All statements, except for statements of historical fact, made within regarding activities, events or developments the Company expects, believes or anticipates will or may occur in the future, such as those regarding future well costs, expected asset sales, well productivity, future liquidity and financial resilience, anticipated exports and related financial impact, NGL market supply and demand, future commodity fundamentals and pricing, future capital efficiencies, future shareholder value, emerging plays, capital spending, anticipated drilling and completion activity, acreage prospectivity, expected pipeline utilization and future guidance information, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on assumptions and estimates that management believes are reasonable based on currently available information; however, management's assumptions and Range's future performance are subject to a wide range of business risks and uncertainties and there is no assurance that these goals and projections can or will be met. Any number of factors could cause actual results to differ materially from those in the forward-looking statements. Further information on risks and uncertainties is available in Range's filings with the Securities and Exchange Commission (SEC), including its most recent Annual Report on Form 10-K. Unless required by law, Range undertakes no obligation to publicly update or revise any forward-looking statements to reflect circumstances or events after the date they are made.

The SEC permits oil and gas companies, in filings made with the SEC, to disclose proved reserves, which are estimates that geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions as well as the option to disclose probable and possible reserves. Range has elected not to disclose its probable and possible reserves in its filings with the SEC. Range uses certain broader terms such as "resource potential,” “unrisked resource potential,” "unproved resource potential" or "upside" or other descriptions of volumes of resources potentially recoverable through additional drilling or recovery techniques that may include probable and possible reserves as defined by the SEC's guidelines. Range has not attempted to distinguish probable and possible reserves from these broader classifications. The SEC’s rules prohibit us from including in filings with the SEC these broader classifications of reserves. These estimates are by their nature more speculative than estimates of proved, probable and possible reserves and accordingly are subject to substantially greater risk of actually being realized. Unproved resource potential refers to Range's internal estimates of hydrocarbon quantities that may be potentially discovered through exploratory drilling or recovered with additional drilling or recovery techniques and have not been reviewed by independent engineers. Unproved resource potential does not constitute reserves within the meaning of the Society of Petroleum Engineer's Petroleum Resource Management System and does not include proved reserves. Area wide unproven resource potential has not been fully risked by Range's management. “EUR”, or estimated ultimate recovery, refers to our management’s estimates of hydrocarbon quantities that may be recovered from a well completed as a producer in the area. These quantities may not necessarily constitute or represent reserves within the meaning of the Society of Petroleum Engineer’s Petroleum Resource Management System or the SEC’s oil and natural gas disclosure rules. Actual quantities that may be recovered from Range's interests could differ substantially. Factors affecting ultimate recovery include the scope of Range's drilling program, which will be directly affected by the availability of capital, drilling and production costs, commodity prices, availability of drilling services and equipment, drilling results, lease expirations, transportation constraints, regulatory approvals, field spacing rules, recoveries of gas in place, length of horizontal laterals, actual drilling results, including geological and mechanical factors affecting recovery rates and other factors. Estimates of resource potential may change significantly as development of our resource plays provides additional data.

In addition, our production forecasts and expectations for future periods are dependent upon many assumptions, including estimates of production decline rates from existing wells and the undertaking and outcome of future drilling activity, which may be affected by significant commodity price or drilling cost changes. Investors are urged to consider closely the disclosure in our most recent Annual Report on Form 10-K, available from our website at www.rangeresources.com or by written request to 100 Throckmorton Street, Suite 1200, Fort Worth, Texas 76102. You can also obtain this Form 10-K on the SEC’s website at www.sec.gov or by calling the SEC at 1-800-SEC-0330.

SOURCE: Range Resources Corporation

Range Investor Contacts:

Laith Sando
817-869-4267

Matt Schmid
817-869-1538

Range Media Contact:

Mark Windle
724-873-3223

RANGE RESOURCES CORPORATION
  STATEMENTS OF OPERATIONS
Based on GAAP reported earnings with additional
details of items included in each line in Form 10-Q
(Unaudited, In thousands, except per share data)
 Three Months Ended June 30,  Six Months Ended June 30,  2026  2025  %  2026  2025  % Revenues and other income:                 Natural gas, NGLs and oil sales (a)$702,087  $666,638     $1,712,339  $1,458,558    Derivative fair value income (loss) 73,540   154,747      40,111   (4,210)   Brokered natural gas and marketing 57,496   33,009      114,725   87,417    ARO settlement gain (b) -   1      -   1    Interest income (b) 27   1,762      82   4,815    Gain on sale of assets (b) 23   102      29   164    Other (b) 398   16      455   84    Total revenues and other income 833,571   856,275  -3%  1,867,741   1,546,829  21%                  Costs and expenses:                 Direct operating 27,273   22,616      55,401   47,452    Direct operating - stock-based compensation (c) 518   504      1,064   1,041    Transportation, gathering, processing and compression 316,812   304,714      640,141   610,823    Taxes other than income 6,926   7,835      12,749   14,822    Brokered natural gas, NGLs and marketing 58,620   34,183      115,859   91,544    Brokered natural gas, NGLs and marketing - stock-based compensation (c) 717   802      1,601   1,642    Exploration 6,112   7,562      11,808   13,606    Exploration - stock-based compensation (c) 386   366      720   713    Abandonment and impairment of unproved properties 4,561   6,781      8,458   11,355    General and administrative 36,579   32,757      71,032   64,310    General and administrative - stock-based compensation (c) 10,471   9,326      21,096   19,437    General and administrative - lawsuit settlements and other 657   63      930   90    Exit costs 9,569   8,502      16,519   17,399    Deferred compensation plan (d) (1,756)  (88)     787   2,791    Interest expense 13,587   25,630      32,179   53,415    Interest expense - amortization of debt issuance costs (e) 830   1,166      1,657   2,542    Loss (gain) on early extinguishment of debt -   -      12,344   (3)   Depletion, depreciation and amortization 93,082   91,514      181,608   182,073    Total costs and expenses 584,944   554,233  6%  1,185,953   1,135,052  4%                  Income before income taxes 248,627   302,042  -18%  681,788   411,777  66%                  Income tax expense                 Current 2,629   4,645      8,430   6,645    Deferred 50,675   59,819      136,405   70,502      53,304   64,464      144,835   77,147                      Net income$195,323  $237,578  -18% $536,953  $334,630  60%                                    Net income Per Common Share                 Basic$0.83  $0.99     $2.28  $1.40    Diluted$0.83  $0.99     $2.27  $1.39                      Weighted average common shares outstanding, as reported                 Basic 234,739   238,187  -1%  234,893   239,106  -2%Diluted 236,210   239,717  -1%  236,348   240,772  -2%                                    (a) See separate natural gas, NGLs and oil sales information table.
(b) Included in Other income in the 10-Q.
(c) Costs associated with stock compensation and amortization, which have been reflected in the categories associated with the direct personnel costs, are combined with the cash costs in the 10-Q.
(d) Reflects the change in market value of the vested Company stock held in the deferred compensation plan.
(e) Included in interest expense in the 10-Q.
RANGE RESOURCES CORPORATION             BALANCE SHEET     (Unaudited, In thousands)      June 30,  December 31,  2026  2025 Assets     Current assets$322,502  $390,835 Derivative assets 123,343   69,397 Natural gas, NGLs and oil properties, net (successful efforts method) 6,878,562   6,708,366 Other property and equipment, net 11,703   4,935 Operating lease right-of-use assets 147,179   173,477 Other 78,654   74,938  $7,561,943  $7,421,948       Liabilities and Stockholders' Equity     Current liabilities$641,525  $658,783 Asset retirement obligations 1,173   1,173 Derivative liabilities 2,141   1,196       Bank debt, net of unamortized debt issuance costs 370,889   106,700 Senior notes, net of unamortized debt issuance costs 496,196   1,091,634 Deferred tax liabilities 838,000   701,601 Derivative liabilities 1,246   2,363 Deferred compensation liabilities 70,941   68,635 Operating lease liabilities 93,072   115,515 Asset retirement obligations and other liabilities 158,802   153,081 Divestiture contract obligation 179,209   202,586   2,853,194   3,103,267       Common stock and retained deficit 5,560,981   5,064,743 Accumulated other comprehensive income 401   424 Common stock held in treasury (852,633)  (746,486)Total stockholders' equity 4,708,749   4,318,681  $7,561,943  $7,421,948  RECONCILIATION OF TOTAL DEBT AS REPORTED
TO NET DEBT, a non-GAAP measure
(Unaudited, in thousands)
 June 30,  December 31,     2026  2025  %          Total debt, net of unamortized debt issuance costs, as reported$867,085  $1,198,334  -28%Unamortized debt issuance costs, as reported 13,915   19,666    Less cash and cash equivalents, as reported (247)  (204)   Net debt, a non-GAAP measure$880,753  $1,217,796  -28% RANGE RESOURCES CORPORATION
  CASH FLOWS FROM OPERATING ACTIVITIES
(Unaudited, in thousands)
 Three Months Ended June 30,  Six Months Ended June 30,  2026  2025  2026  2025             Net income$195,323  $237,578  $536,953  $334,630 Adjustments to reconcile net cash provided from continuing operations:           Deferred income tax expense 50,675   59,819   136,405   70,502 Depletion, depreciation and amortization 93,082   91,514   181,608   182,073 Abandonment and impairment of unproved properties 4,561   6,781   8,458   11,355 Derivative fair value (income) loss (73,540)  (154,747)  (40,111)  4,210 Cash settlements on derivative financial instruments 35,288   31,466   (14,007)  36,039 Divestiture contract obligation, including accretion 9,569   8,502   16,519   17,399 Amortization of deferred financing costs and other 1,091   962   2,190   2,144 Deferred and stock-based compensation 10,492   11,047   25,823   26,130 Gain on sale of assets (23)  (102)  (29)  (164)Loss (gain) on early extinguishment of debt -   -   12,344   (3)            Changes in working capital:           Accounts receivable (13,398)  96,785   68,779   68,064 Other current assets 6,107   518   (85)  (8,510)Accounts payable (76,901)  (27,023)  6,322   9,158 Accrued liabilities and other (7,311)  (26,912)  (87,018)  (86,754)Net changes in working capital (91,503)  43,368   (12,002)  (18,042)Net cash provided from operating activities$235,015  $336,188  $854,151  $666,273                         RECONCILIATION OF NET CASH PROVIDED FROM OPERATING           ACTIVITIES, AS REPORTED, TO CASH FLOW FROM OPERATIONS           BEFORE CHANGES IN WORKING CAPITAL, a non-GAAP measure           (Unaudited, in thousands)            Three Months Ended June 30,  Six Months Ended June 30,  2026  2025  2026  2025 Net cash provided from operating activities, as reported$235,015  $336,188  $854,151  $666,273 Net changes in working capital 91,503   (43,368)  12,002   18,042 Exploration expense 6,112   7,562   11,808   13,606 Lawsuit settlements 411   63   426   90 Sale of seismic data (360)  -   (360)  - Non-cash compensation adjustment and other (171)  66   (584)  (109)Cash flow from operations before changes in working capital - non-GAAP measure$332,510  $300,511  $877,443  $697,902                         ADJUSTED WEIGHTED AVERAGE SHARES OUTSTANDING           (Unaudited, in thousands)            Three Months Ended June 30,  Six Months Ended June 30,  2026  2025  2026  2025 Basic:           Weighted average shares outstanding 234,986   238,804   235,150   239,785 Stock held by deferred compensation plan (247)  (617)  (257)  (679)Adjusted basic 234,739   238,187   234,893   239,106             Dilutive:           Weighted average shares outstanding 234,986   238,804   235,150   239,785 Dilutive stock options under treasury method 1,224   913   1,198   987 Adjusted dilutive 236,210   239,717   236,348   240,772  RANGE RESOURCES CORPORATION
  RECONCILIATION OF NATURAL GAS, NGLs AND OIL SALES
AND DERIVATIVE FAIR VALUE INCOME (LOSS) TO
CALCULATED CASH REALIZED NATURAL GAS, NGLs AND
OIL PRICES WITH AND WITHOUT THIRD-PARTY
TRANSPORTATION, GATHERING, PROCESSING AND
COMPRESSION COSTS, a non-GAAP measure
(Unaudited, In thousands, except per unit data)
 Three Months Ended June 30,  Six Months Ended June 30,  2026  2025  %  2026  2025  % Natural gas, NGLs and Oil Sales components:                 Natural gas sales$339,796  $397,955     $1,043,877  $888,332    NGLs sales 312,822   238,034      572,054   513,688    Oil sales 49,469   30,649      96,408   56,538    Total Natural Gas, NGLs and Oil Sales, as reported$702,087  $666,638  5% $1,712,339  $1,458,558  17%                  Derivative Fair Value Income (Loss), as reported$73,540  $154,747     $40,111  $(4,210)   Cash settlements on derivative financial instruments - (gain) loss:                 Natural gas (52,789)  (29,114)     (7,120)  (33,843)   NGLs 7,190   (1,508)     7,190   (1,096)   Oil 10,311   (844)     13,937   (1,100)   Total change in fair value related to commodity derivatives prior to settlement, a non-GAAP measure$38,252  $123,281     $54,118  $(40,249)                     Transportation, gathering, processing and compression components:                 Natural Gas$152,091  $154,704     $321,297  $312,223    NGLs 163,854   149,209      317,198   297,047    Oil 867   801      1,646   1,553    Total transportation, gathering, processing and compression, as reported$316,812  $304,714     $640,141  $610,823                      Natural gas, NGL and Oil sales, including cash-settled derivatives: (c)                 Natural gas sales$392,585  $427,069     $1,050,997  $922,175    NGLs sales 305,632   239,542      564,864   514,784    Oil Sales 39,158   31,493      82,471   57,638    Total$737,375  $698,104  6% $1,698,332  $1,494,597  14%                  Production of natural gas, NGLs and oil during the periods (a):                 Natural Gas (mcf) 140,947,296   136,297,159  3%  276,743,067   272,260,589  2%NGLs (bbls) 10,748,270   10,029,051  7%  20,485,652   19,949,040  3%Oil (bbls) 589,230   580,791  1%  1,330,754   1,004,370  32%Gas equivalent (mcfe) (b) 208,972,296   199,956,211  5%  407,641,503   397,981,049  2%                  Production of natural gas, NGLs and oil - average per day (a):                 Natural Gas (mcf) 1,548,871   1,497,771  3%  1,528,967   1,504,202  2%NGLs (bbls) 118,113   110,209  7%  113,180   110,216  3%Oil (bbls) 6,475   6,382  1%  7,352   5,549  32%Gas equivalent (mcfe) (b) 2,296,399   2,197,321  5%  2,252,163   2,198,790  2%                  Average prices, excluding derivative settlements and before third-party transportation costs:                 Natural Gas (per mcf)$2.41  $2.92  -17% $3.77  $3.26  16%NGLs (per bbl)$29.10  $23.73  23% $27.92  $25.75  8%Oil (per bbl)$83.96  $52.77  59% $72.45  $56.29  29%Gas equivalent (per mcfe) (b)$3.36  $3.33  1% $4.20  $3.66  15%                  Average prices, including derivative settlements before third-party transportation costs: (c)                 Natural Gas (per mcf)$2.79  $3.13  -11% $3.80  $3.39  12%NGLs (per bbl)$28.44  $23.88  19% $27.57  $25.80  7%Oil (per bbl)$66.45  $54.22  23% $61.97  $57.39  8%Gas equivalent (per mcfe) (b)$3.53  $3.49  1% $4.17  $3.75  11%                  Average prices, including derivative settlements and after third-party transportation costs: (d)                 Natural Gas (per mcf)$1.71  $2.00  -15% $2.64  $2.24  18%NGLs (per bbl)$13.19  $9.01  46% $12.09  $10.91  11%Oil (per bbl)$64.98  $52.84  23% $60.74  $55.84  9%Gas equivalent (per mcfe) (b)$2.01  $1.97  2% $2.60  $2.22  17%                  Transportation, gathering and compression expense per mcfe$1.52  $1.52  0% $1.57  $1.53  3%                  (a) Represents volumes sold regardless of when produced.
(b) Oil and NGLs are converted at the rate of one barrel equals six mcfe based upon the approximate relative energy content of oil to natural gas, which is not necessarily indicative of the relationship of oil and natural gas prices.
(c) Excluding third-party transportation, gathering, processing and compression costs.
(d) Net of transportation, gathering, processing and compression costs.
 RANGE RESOURCES CORPORATION
  RECONCILIATION OF INCOME BEFORE INCOME
TAXES AS REPORTED TO INCOME BEFORE INCOME TAXES
EXCLUDING CERTAIN ITEMS, a non-GAAP measure
(Unaudited, In thousands, except per share data)
 Three Months Ended June 30,  Six Months Ended June 30,  2026  2025  %  2026  2025  %                   Income from operations before income taxes, as reported$248,627  $302,042   -18% $681,788  $411,777   66%Adjustment for certain special items:                 Gain on the sale of assets (23)  (102)     (29)  (164)   ARO settlement gain -   (1)     -   (1)   Sale of seismic data (360)  -      (360)  -    Change in fair value related to derivatives prior to settlement (38,252)  (123,281)     (54,118)  40,249    Abandonment and impairment of unproved properties 4,561   6,781      8,458   11,355    Loss (gain) on early extinguishment of debt -   -      12,344   (3)   Lawsuit settlements and other 657   63      930   90    Exit costs 9,569   8,502      16,519   17,399    Direct operating - stock-based compensation 518   504      1,064   1,041    Brokered natural gas, NGLs and marketing - stock-based compensation 717   802      1,601   1,642    Exploration expenses - stock-based compensation 386   366      720   713    General & administrative - stock-based compensation 10,471   9,326      21,096   19,437    Deferred compensation plan - non-cash adjustment (1,756)  (88)     787   2,791                      Income before income taxes, as adjusted 235,115   204,914   15%  690,800   506,326   36%                  Income tax expense, as adjusted                 Current 2,629   4,645      8,430   6,645    Deferred (a) 46,745   42,485      136,638   109,810                      Net income, excluding certain items, a non-GAAP measure$185,741  $157,784   18% $545,732  $389,871   40%                  Non-GAAP income per common share                 Basic$0.79  $0.66   20% $2.32  $1.63   42%Diluted$0.79  $0.66   20% $2.31  $1.62   43%                  Non-GAAP diluted shares outstanding, if dilutive 236,210   239,717      236,348   240,772     (a) Taxes are estimated to be approximately 21% for 2026 and 23% for 2025
RANGE RESOURCES CORPORATION
  RECONCILIATION OF NET INCOME, EXCLUDING
CERTAIN ITEMS AND ADJUSTED EARNINGS PER
SHARE, non-GAAP measures
(In thousands, except per share data)
 Three Months Ended June 30,  Six Months Ended June 30,  2026  2025  2026  2025             Net income, as reported$195,323  $237,578  $536,953  $334,630 Adjustments for certain special items:           Gain on the sale of assets (23)  (102)  (29)  (164)ARO settlement gain -   (1)  -   (1)Sale of seismic data (360)  -   (360)  - Loss (gain) on early extinguishment of debt -   -   12,344   (3)Change in fair value related to derivatives prior to settlement (38,252)  (123,281)  (54,118)  40,249 Abandonment and impairment of unproved properties 4,561   6,781   8,458   11,355 Lawsuit settlements and other 657   63   930   90 Exit costs 9,569   8,502   16,519   17,399 Stock-based compensation 12,092   10,998   24,481   22,833 Deferred compensation plan (1,756)  (88)  787   2,791 Tax impact 3,930   17,334   (233)  (39,308)            Net income, excluding certain items, a non-GAAP measure$185,741  $157,784  $545,732  $389,871             Net income per diluted share, as reported$0.83  $0.99  $2.27  $1.39 Adjustments for certain special items per diluted share:           Gain on the sale of assets -   -   -   - ARO settlement gain -   -   -   - Sale of seismic data -   -   -   - Loss (gain) on early extinguishment of debt -   -   0.05   - Change in fair value related to derivatives prior to settlement (0.16)  (0.51)  (0.23)  0.17 Abandonment and impairment of unproved properties 0.02   0.03   0.04   0.05 Lawsuit settlements and other -   -   -   - Exit costs 0.04   0.04   0.07   0.07 Stock-based compensation 0.05   0.05   0.10   0.09 Deferred compensation plan (0.01)  -   -   0.01 Adjustment for rounding differences -   (0.01)  0.01   - Tax impact 0.02   0.07   -   (0.16)Dilutive share impact (rabbi trust and other) -   -   -   -             Net income per diluted share, excluding certain items, a non-GAAP measure$0.79  $0.66  $2.31  $1.62             Adjusted earnings per share, a non-GAAP measure:           Basic$0.79  $0.66  $2.32  $1.63 Diluted$0.79  $0.66  $2.31  $1.62  RANGE RESOURCES CORPORATION
  RECONCILIATION OF CASH MARGIN PER MCFE, a non-
GAAP measure
(Unaudited, In thousands, except per unit data)
 Three Months Ended June 30,  Six Months Ended June 30,  2026  2025  2026  2025             Revenues           Natural gas, NGLs and oil sales, as reported$702,087  $666,638  $1,712,339  $1,458,558 Derivative fair value income (loss), as reported 73,540   154,747   40,111   (4,210)Less non-cash fair value (gain) loss (38,252)  (123,281)  (54,118)  40,249 Brokered natural gas and marketing, as reported 57,496   33,009   114,725   87,417 Other income, as reported 448   1,881   566   5,064 Less gain on sale of assets (23)  (102)  (29)  (164)Less ARO settlement -   (1)  -   (1)Cash revenues and other income 795,296   732,891   1,813,594   1,586,913             Expenses           Direct operating, as reported 27,791   23,120   56,465   48,493 Less direct operating stock-based compensation (518)  (504)  (1,064)  (1,041)Transportation, gathering and compression, as reported 316,812   304,714   640,141   610,823 Taxes other than income, as reported 6,926   7,835   12,749   14,822 Brokered natural gas, NGLs and marketing, as reported 59,337   34,985   117,460   93,186 Less brokered natural gas, NGLs and marketing stock-based compensation (717)  (802)  (1,601)  (1,642)General and administrative, as reported 47,707   42,146   93,058   83,837 Less G&A stock-based compensation (10,471)  (9,326)  (21,096)  (19,437)Less lawsuit settlements and other (657)  (63)  (930)  (90)Interest expense, as reported 14,417   26,796   33,836   55,957 Less amortization of debt issuance costs (830)  (1,166)  (1,657)  (2,542)Cash expenses 459,797   427,735   927,361   882,366             Cash margin, a non-GAAP measure$335,499  $305,156  $886,233  $704,547             Mmcfe produced during period 208,972   199,956   407,642   397,981             Cash margin per mcfe$1.61  $1.53  $2.17  $1.77                         RECONCILIATION OF INCOME BEFORE INCOME TAXES           TO CASH MARGIN, a non-GAAP measure           (Unaudited, in thousands, except per unit data)            Three Months Ended June 30,  Six Months Ended June 30,  2026  2025  2026  2025             Income before income taxes, as reported$248,627  $302,042  $681,788  $411,777 Adjustments to reconcile income before income taxes           to cash margin:           ARO settlements -   (1)  -   (1)Derivative fair value (income) loss (73,540)  (154,747)  (40,111)  4,210 Net cash receipts (payments) on derivative settlements 35,288   31,466   (14,007)  36,039 Exploration expense 6,112   7,562   11,808   13,606 Lawsuit settlements and other 657   63   930   90 Exit costs 9,569   8,502   16,519   17,399 Deferred compensation plan (1,756)  (88)  787   2,791 Stock-based compensation (direct operating, brokered natural gas, NGLs and 12,092   10,998   24,481   22,833 marketing, exploration and general and administrative)           Bad debt expense -   -   -   - Interest - amortization of debt issuance costs 830   1,166   1,657   2,542 Depletion, depreciation and amortization 93,082   91,514   181,608   182,073 Gain on sale of assets (23)  (102)  (29)  (164)Loss (gain) on early extinguishment of debt -   -   12,344   (3)Abandonment and impairment of unproved properties 4,561   6,781   8,458   11,355 Cash margin, a non-GAAP measure$335,499  $305,156  $886,233  $704,547 

WALTHAM, Mass.--(BUSINESS WIRE)--Pegasystems Inc. (NASDAQ: PEGA), the Enterprise Transformation Company™, released its financial results for the second quarter of 2026.

"Pega Infinity™ 26 uniquely deploys the power of AI with predictable outcomes and predicable costs by applying agents at design time to optimize run-time token use,” said Alan Trefler, founder and CEO, Pega. "Letting language models do everything is risky and expensive, and using AI to write mountains of code creates significant barriers to the ongoing change that enterprise clients require. Pega structures business applications in a way that makes sense to business and IT to Build for Change®.”

"Pega generated record first-half cash flow and returned substantial capital to shareholders,” said Ken Stillwell, COO and CFO, Pega. “As the market shifts from AI experimentation to tokenomics and reliable business outcomes, that evolution plays directly to Pega’s strengths, and we remain confident in our strategy to capitalize on the opportunity ahead.”

Financial and performance metrics (1)

Unprecedented changes in the AI market caused clients to delay their purchasing decisions. As a result, our ACV growth rate significantly slowed during the six months ended June 30, 2026, as compared to the same period last year. These factors may continue to adversely affect the ACV growth rate for the rest of the year.

Reconciliation of ACV and Constant Currency ACV

(in millions, except percentages)

June 30, 2025

June 30, 2026

1-Year Change

ACV

$

1,514

$

1,620

7

%

Impact of changes in foreign exchange rates

—

10

Constant currency ACV

$

1,514

$

1,630

8

%

  Note: Constant currency ACV is calculated by applying the June 30, 2025 foreign exchange rates to current period shown.

Cash Flow Growth

As a result of the factors discussed under ACV above, our cash flow generation may continue to be adversely affected for the rest of the year.

  (Dollars in thousands,

except per share amounts)

Three Months Ended

June 30,

Six Months Ended

June 30,

2026

2025

Change

2026

2025

Change

Total revenue

$

420,716

$

384,512

9

%

$

850,689

$

860,145

(1

)%

Net income - GAAP

$

13,334

$

30,077

(56

)%

$

46,098

$

115,499

(60

)%

Net income - non-GAAP

$

59,533

$

50,151

19

%

$

142,601

$

190,693

(25

)%

Diluted earnings per share - GAAP

$

0.08

$

0.17

(53

)%

$

0.26

$

0.63

(59

)%

Diluted earnings per share - non-GAAP

$

0.35

$

0.28

25

%

$

0.81

$

1.04

(22

)%

  (Dollars in thousands)

Three Months Ended

June 30,

Change

Six Months Ended

June 30,

Change

2026

2025

2026

2025

Pega Cloud

$

213,934

51

%

$

166,743

43

%

$

47,191

28

%

$

418,965

49

%

$

317,866

37

%

$

101,099

32

%

Maintenance

74,528

18

%

79,271

21

%

(4,743

)

(6

)%

149,845

18

%

155,639

18

%

(5,794

)

(4

)%

Subscription services

288,462

69

%

246,014

64

%

42,448

17

%

568,810

67

%

473,505

55

%

95,305

20

%

Subscription license

82,028

19

%

80,674

21

%

1,354

2

%

176,880

21

%

268,395

31

%

(91,515

)

(34

)%

Subscription

370,490

88

%

326,688

85

%

43,802

13

%

745,690

88

%

741,900

86

%

3,790

1

%

Consulting

50,226

12

%

57,824

15

%

(7,598

)

(13

)%

104,999

12

%

118,245

14

%

(13,246

)

(11

)%

Total revenue

$

420,716

100

%

$

384,512

100

%

$

36,204

9

%

$

850,689

100

%

$

860,145

100

%

$

(9,456

)

(1

)%

Quarterly conference call

A conference call and audio-only webcast will be conducted at 8:00 a.m. EDT on Wednesday, July 22, 2026.

Members of the public and investors are invited to join the call and participate in the question and answer session by dialing 1 (833) 461-5787 (domestic) or 1 (626) 884-3620 (international) and using Conference ID 421269211, or via https://events.q4inc.com/attendee/421269211 by logging onto www.pega.com at least five minutes prior to the event's broadcast and clicking on the webcast icon in the Investors section.

Discussion of non-GAAP financial measures

Our non-GAAP financial measures should only be read in conjunction with our consolidated financial statements prepared in accordance with GAAP. We believe that these measures help investors understand our core operating results and prospects, which is consistent with how management measures and forecasts our performance without the effect of often one-time charges and other items outside our normal operations. Management uses these measures to assess the performance of the company's operations and establish operational goals and incentives. They are not a substitute for financial measures prepared under U.S. GAAP. Refer to the schedules at the end of this release for additional information, including a reconciliation of GAAP and non-GAAP measures.

Forward-looking statements

Certain statements in this press release may be "forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995, including statements about the growth and development of our business and market.

Words such as expects, anticipates, intends, plans, believes, will, could, should, estimates, may, targets, strategies, intends to, projects, positions, forecasts, guidance, likely, and usually or variations of such words and other similar expressions identify forward-looking statements. These statements represent our views only as of the date the statement was made and are based on current expectations and assumptions.

Forward-looking statements deal with future events and are subject to risks and uncertainties that are difficult to predict, including, but not limited to:

our future financial performance and business plans; the adequacy of our liquidity and capital resources; the successful execution of investments in artificial intelligence; the timing of revenue recognition; variation in demand for our products and services; reliance on key personnel; potential legal and financial liabilities, as well as damage to our reputation, due to cyber-attacks; security breaches and security flaws; our ability to protect our intellectual property rights, costs associated with defending such rights, intellectual property rights claims, and other related claims by third parties against us, including related costs, damages, and other relief that may be granted against us; our ongoing litigation with Appian Corp. and associated legal proceedings; our client retention rate; and management of our growth. These risks and others that may cause actual results to differ materially from those expressed in such forward-looking statements are described further in Part I of our Annual Report on Form 10-K for the year ended December 31, 2025, and other filings we make with the SEC.

Investors are cautioned not to place undue reliance on such forward-looking statements, and there are no assurances that the results included in such statements will be achieved. Although subsequent events may cause our view to change, except as required by applicable law, we do not undertake and expressly disclaim any obligation to publicly update or revise these forward-looking statements, whether as the result of new information, future events, or otherwise.

Any forward-looking statements in this press release represent our views as of July 21, 2026.

About Pegasystems

Pega delivers the platform to reimagine, run, and evolve the processes and decisions an enterprise can't afford to get wrong. We combine AI with proven architecture to keep mission-critical operations governed, scalable, and continuously adaptable. Since 1983, the world's largest organizations have trusted Pega to turn transformation ambition into durable results. Learn more at www.pega.com.

All trademarks are the property of their respective owners.

(1) Refer to the schedules at the end of this release for additional information, including a reconciliation of GAAP and non-GAAP measures.

  PEGASYSTEMS INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

  Three Months Ended

June 30,

Six Months Ended

June 30,

2026

2025

2026

2025

Revenue

Subscription services

$

288,462

$

246,014

$

568,810

$

473,505

Subscription license

82,028

80,674

176,880

268,395

Consulting

50,226

57,824

104,999

118,245

Total revenue

420,716

384,512

850,689

860,145

Cost of revenue

Subscription services

53,941

41,510

103,390

79,638

Subscription license

267

364

738

752

Consulting

53,821

67,700

110,655

131,634

Total cost of revenue

108,029

109,574

214,783

212,024

Gross profit

312,687

274,938

635,906

648,121

Operating expenses

Selling and marketing

165,408

147,131

321,011

285,200

Research and development

84,168

78,784

166,215

153,070

General and administrative

43,740

31,788

92,313

65,616

Restructuring

2,735

(44

)

2,582

(33

)

Total operating expenses

296,051

257,659

582,121

503,853

Income from operations

16,636

17,279

53,785

144,268

Foreign currency transaction (loss) gain

(1,364

)

(14,008

)

486

(19,333

)

Interest income

2,500

3,248

5,454

8,583

Interest expense

(45

)

(1

)

(89

)

(1,028

)

(Loss) on capped call transactions

—

—

—

(223

)

Other income (loss), net

786

18,729

(1,418

)

19,290

Income before provision for (benefit from) income taxes

18,513

25,247

58,218

151,557

Provision for (benefit from) income taxes

5,179

(4,830

)

12,120

36,058

Net income

$

13,334

$

30,077

$

46,098

$

115,499

Earnings per share

Basic

$

0.08

$

0.18

$

0.28

$

0.67

Diluted

$

0.08

$

0.17

$

0.26

$

0.63

Weighted-average number of common shares outstanding

Basic

165,613

170,776

167,206

171,287

Diluted

171,765

182,160

175,294

185,477

  PEGASYSTEMS INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

  June 30, 2026

December 31, 2025

Assets

Current assets:

Cash and cash equivalents

$

185,110

$

212,447

Marketable securities

176,797

213,352

Total cash, cash equivalents, and marketable securities

361,907

425,799

Accounts receivable, net

143,213

264,713

Unbilled receivables, net

154,029

166,478

Other current assets

102,559

121,305

Total current assets

761,708

978,295

Long-term unbilled receivables, net

77,947

102,544

Goodwill

81,265

81,506

Long-term deferred income taxes

176,903

175,472

Other long-term assets

286,220

294,027

Total assets

$

1,384,043

$

1,631,844

Liabilities and stockholders’ equity

Current liabilities:

Accounts payable

$

52,964

$

12,924

Accrued expenses

92,295

44,847

Accrued compensation and related expenses

87,583

148,797

Deferred revenue

462,532

509,275

Other current liabilities

23,886

21,935

Total current liabilities

719,260

737,778

Long-term operating lease liabilities

56,996

60,825

Other long-term liabilities

47,403

45,860

Total liabilities

823,659

844,463

Total stockholders’ equity

560,384

787,381

Total liabilities and stockholders’ equity

$

1,384,043

$

1,631,844

  PEGASYSTEMS INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

  Six Months Ended

June 30,

2026

2025

Net income

$

46,098

$

115,499

Adjustments to reconcile net income to cash provided by operating activities

Non-cash items

125,635

123,170

Change in operating assets and liabilities, net

126,492

51,827

Cash provided by operating activities

298,225

290,496

Cash provided by investing activities

25,832

212,995

Cash (used in) financing activities

(349,030

)

(646,316

)

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

(2,299

)

7,407

Net (decrease) in cash, cash equivalents, and restricted cash

(27,272

)

(135,418

)

Cash, cash equivalents, and restricted cash, beginning of period

216,360

341,529

Cash, cash equivalents, and restricted cash, end of period

$

189,088

$

206,111

  PEGASYSTEMS INC.

RECONCILIATION OF SELECTED GAAP AND NON-GAAP MEASURES

(in thousands, except percentages and per share amounts)

  Three Months Ended

June 30,

Six Months Ended

June 30,

2026

2025

Change

2026

2025

Change

Net income - GAAP

$

13,334

$

30,077

(56

)%

$

46,098

$

115,499

(60

)%

Stock-based compensation (1)

36,226

36,730

82,041

78,155

Legal fees

17,950

6,409

37,914

12,953

Amortization of intangible assets

237

675

1,020

1,376

Restructuring

2,735

(44

)

2,582

(33

)

Foreign currency transaction loss (gain)

1,364

14,008

(486

)

19,333

Interest on convertible senior notes

—

—

—

394

Capped call transactions

—

—

—

223

Other

(700

)

(18,729

)

1,533

(19,480

)

Income taxes (2)

(11,613

)

(18,975

)

(28,101

)

(17,727

)

Net income - non-GAAP

$

59,533

$

50,151

19

%

$

142,601

$

190,693

(25

)%

Diluted earnings per share - GAAP

$

0.08

$

0.17

(53

)%

$

0.26

$

0.63

(59

)%

non-GAAP adjustments

0.27

0.11

0.55

0.41

Diluted earnings per share - non-GAAP

$

0.35

$

0.28

25

%

$

0.81

$

1.04

(22

)%

Diluted weighted-average number of common shares outstanding - GAAP

171,765

182,160

(6

)%

175,294

185,477

(5

)%

Capped call transactions

—

—

—

(2,412

)

Diluted weighted-average number of common shares outstanding - non-GAAP

171,765

182,160

(6

)%

175,294

183,065

(4

)%

Our non-GAAP financial measures reflect the following adjustments:

Stock-based compensation: We have excluded stock-based compensation from our non-GAAP operating expenses and profitability measures. Although stock-based compensation is a key incentive offered to our employees, and we believe such compensation contributed to our revenues recognized during the periods presented and is expected to contribute to our future revenues, we continue to evaluate our business performance, excluding stock-based compensation. Legal fees: Legal and related fees arising from proceedings outside the ordinary course of business. We believe excluding these amounts from our non-GAAP financial measures is useful to investors as the types of events giving rise to them are not representative of our core business operations and ongoing operational performance. Amortization of intangible assets: We have excluded the amortization of intangible assets from our non-GAAP operating expenses and profitability measures. Amortization of intangible assets fluctuates in amount and frequency and is significantly affected by the timing and size of acquisitions. Investors should note that intangible assets contributed to our revenues recognized during the periods presented and are expected to contribute to future revenues. Amortization of intangible assets is likely to recur in future periods. We believe excluding these amounts provides a useful comparison of our operational performance in different periods. Restructuring: We have excluded restructuring from our non-GAAP financial measures. Restructuring fluctuates in amount and frequency and is significantly affected by the timing and size of our restructuring activities. We believe excluding these amounts from our non-GAAP financial measures is useful to investors as these amounts are not representative of our core business operations and ongoing operational performance. Foreign currency transaction loss (gain): We have excluded foreign currency transaction gains and losses from our non-GAAP profitability measures. Foreign currency transaction gains and losses fluctuate in amount and frequency and are significantly affected by foreign exchange market rates. Foreign currency transaction gains and losses are likely to recur in future periods. We believe excluding these amounts provides a useful comparison of our operational performance in different periods. Interest on convertible senior notes: In February 2020, we issued convertible senior notes (the “Notes”), due March 1, 2025, in a private placement. The Notes accrued interest at an annual rate of 0.75%, paid semi-annually in arrears on March 1 and September 1. The outstanding Notes were repaid in their entirety at maturity. We believe that excluding the amortization of issuance costs provides a useful comparison of our operational performance in different periods. Capped call transactions: We have excluded gains and losses related to our capped call transactions held at fair value under U.S. GAAP. The capped call transactions were expected to reduce common stock dilution and/or offset any potential cash payments we must make, other than for principal and interest, upon conversion of the Notes. We believe excluding these amounts from our non-GAAP financial measures is useful to investors as the types of events giving rise to them are not representative of our core business operations and ongoing operational performance. Other: We have excluded gains and losses from our venture investments and other one-time, non-operating items. We believe excluding these amounts from our non-GAAP financial measures is useful to investors as the types of events giving rise to them are not representative of our core business operations and ongoing operational performance. Diluted weighted-average number of common shares outstanding: Capped call transactions: In periods of GAAP net income, the shares calculated by applying the if-converted method related to our Notes are included in the diluted weighted-average shares outstanding if they are dilutive. The capped call transactions were expected to reduce common stock dilution and/or offset any potential cash payments we must make, other than for principal and interest, upon conversion of the Notes. We believe that including the expected impact of the capped call transactions in our non-GAAP financial measures provides a useful comparison of our operational performance in different periods. (1) Stock-based compensation:

Three Months Ended

June 30,

Six Months Ended

June 30,

(Dollars in thousands)

2026

2025

2026

2025

Cost of revenue

$

6,752

$

7,288

$

14,628

$

15,111

Selling and marketing

14,555

14,378

33,009

30,159

Research and development

7,943

7,490

17,962

15,875

General and administrative

6,976

7,574

16,442

17,010

$

36,226

$

36,730

$

82,041

$

78,155

Income tax benefit

$

(7,091

)

$

(566

)

$

(16,255

)

$

(1,153

)

(2) Effective income tax rates:

Six Months Ended

June 30,

2026

2025

GAAP

21

%

24

%

non-GAAP

22

%

22

%

Our GAAP effective income tax rate is subject to significant fluctuations due to several factors, including our stock-based compensation plans, research and development tax credits, and the valuation allowance on our deferred tax assets in the U.S. and U.K. We determine our non-GAAP income tax rate using applicable rates in taxing jurisdictions and assessing certain factors, including historical and forecasted earnings by jurisdiction, discrete items, and ability to realize tax assets. We believe it is beneficial for our management to review our non-GAAP results consistent with our annual plan’s effective income tax rate as established at the beginning of each year, given tax rate volatility.

  PEGASYSTEMS INC.

RECONCILIATION OF FREE CASH FLOW (1) AND OTHER METRICS

(in thousands, except percentages)

  Six Months Ended

June 30,

Change

2026

2025

Cash provided by operating activities

$

298,225

290,496

3

%

Investment in property and equipment

(9,967

)

(4,015

)

Free cash flow (1)

$

288,258

$

286,481

1

%

Supplemental information (2)

Legal fees

$

9,188

$

10,020

Restructuring

11,449

1,354

Interest paid on convertible senior notes

—

1,754

Other

(689

)

—

Income taxes, net of refunds

10,842

(702

)

$

30,790

$

12,426

  PEGASYSTEMS INC.

ANNUAL CONTRACT VALUE

(in thousands, except percentages)

  Annual contract value (“ACV”) - ACV represents the annualized value of our active contracts as of the measurement date. The contract's total value is divided by its duration in years to calculate ACV. ACV is a performance measure that we believe provides useful information to our management and investors.

  June 30, 2026

June 30, 2025

Change

Constant Currency Change

Pega Cloud

$

926,290

$

761,051

$

165,239

22

%

22

%

Maintenance

271,328

301,375

(30,047

)

(10

)%

(9

)%

Subscription services

1,197,618

1,062,426

135,192

13

%

13

%

Subscription license

422,316

451,591

(29,275

)

(6

)%

(6

)%

$

1,619,934

$

1,514,017

$

105,917

7

%

8

%

  PEGASYSTEMS INC.

BACKLOG

(in thousands, except percentages)

  Remaining performance obligations (“Backlog”) - Expected future revenue from existing non-cancellable contracts:

As of June 30, 2026:

  Subscription services

Subscription license

Consulting

Total

Pega Cloud

Maintenance

1 year or less

$

704,447

$

198,492

$

42,537

$

47,220

$

992,696

49

%

1-2 years

393,855

82,004

1,546

3,747

481,152

24

%

2-3 years

222,052

50,070

7,583

899

280,604

14

%

Greater than 3 years

241,679

20,480

958

1,062

264,179

13

%

$

1,562,033

$

351,046

$

52,624

$

52,928

$

2,018,631

100

%

% of Total

77

%

17

%

3

%

3

%

100

%

Change since June 30, 2025

$

240,835

$

(45,683

)

$

(21,826

)

$

9,976

$

183,302

18

%

(12

)%

(29

)%

23

%

10

%

As of June 30, 2025:

Subscription services

Subscription license

Consulting

Total

Pega Cloud

Maintenance

1 year or less

$

603,683

$

220,954

$

62,222

$

39,798

$

926,657

51

%

1-2 years

334,586

79,345

4,262

2,846

421,039

23

%

2-3 years

172,513

49,587

746

252

223,098

12

%

Greater than 3 years

210,416

46,843

7,220

56

264,535

14

%

$

1,321,198

$

396,729

$

74,450

$

42,952

$

1,835,329

100

%

% of Total

72

%

22

%

4

%

2

%

100

%

  PEGASYSTEMS INC.

RECONCILIATION OF GAAP BACKLOG AND CONSTANT CURRENCY BACKLOG

(in millions, except percentages)

  June 30, 2025

June 30, 2026

1 Year Growth Rate

Backlog - GAAP

$

1,835

$

2,019

10

%

Impact of changes in foreign exchange rates

—

20

Constant currency backlog

$

1,835

$

2,039

11

%

  Note: Constant currency backlog is calculated by applying the June 30, 2025 foreign exchange rates to current period shown.

More News From Pegasystems Inc.

-

PORTSMOUTH, N.H.--(BUSINESS WIRE)--Albany International Corp. (NYSE: AIN) announced today that it will release second-quarter 2026 results on August 4, 2026, before market open.

The Company will host a webcast to discuss the results at 9:00 a.m. Eastern Time on Tuesday, August 4, 2026. Interested parties are encouraged to listen to the live webcast via the Company’s Investor Relations website at investors.albint.com or by registering via the link here.

The event can also be accessed by dialing +1 (833) 461-5787 and using the Meeting ID: 487 159 842.

An archive of the webcast will be available on the website at approximately noon Eastern Time on Tuesday, August 4, 2026.

About Albany International Corp.

Albany is a leading materials science developer and manufacturer of engineered components, using advanced materials processing and automation capabilities, with two core businesses:

Machine Clothing is the world’s leading producer of custom-designed consumable belts, essential for the manufacture of paper, paperboard, tissue, and towel, as well as pulp, non-wovens, and a variety of other industrial applications. Albany Engineered Composites is a growing designer and manufacturer of advanced materials-based engineered components for demanding aerospace applications, supporting both commercial and military platforms. Albany International is headquartered in Portsmouth, New Hampshire, operates 25 facilities in 12 countries, employs approximately 5,700 people worldwide, and is listed on the New York Stock Exchange (Symbol AIN). Additional information about the Company and its products and services can be found at www.albint.com.

More News From Albany International Corp.

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TROY, Mich., July 21, 2026 /PRNewswire/ -- The Editorial Advisory and Securities Review Committee of BetterInvesting Magazine today announced Broadridge Financial Resources Inc. (NYSE: BR) as its "Stock to Study" and ResMed Inc. (NYSE: RMD) as its "Undervalued Stock" in the October 2026 issue for investors' informational and educational use.

-

BOISE, Idaho--(BUSINESS WIRE)--Boise Cascade Company (NYSE: BCC) will host a webcast and conference call to discuss second quarter 2026 earnings on Tuesday, August 4, 2026, at 11 a.m. Eastern.

To join the webcast, go to the Investors section of our website at www.bc.com/investors and select the Event Calendar link. Analysts and investors who wish to ask questions during the Q&A session can register for the call here.

The archived webcast will be available in the Investors section of Boise Cascade’s website.

About Boise Cascade

Boise Cascade is one of the largest U.S. wholesale distributors of building materials and a leading manufacturer of engineered wood products and plywood in North America. Our integrated model and national distribution footprint position us to deliver outstanding service to our customers across a broad range of industry-leading products, including key structural products that we produce. Headquartered in Boise, Idaho, we operate more than 60 distribution and manufacturing facilities strategically located across the U.S. and Canada. Our work is powered by a dedicated team of over 7,500 people. Learn more at www.bc.com.

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Anduril and Archer Aviation on Monday announced the joint development of a vertical take-off and landing (VTOL) platform that can serve both commercial and defense applications.

The defense variant of the VTOL aircraft, dubbed Thunder, was unveiled by Anduril at the Farnborough Airshow in England.

The companies said that the dual-use platform represents a step change in the vertical lift space, leveraging commercial electric propulsion for VTOL aircraft as well as offering the speed, range, payload and operating costs that will be useful for defense and commercial uses.

The defense variant of the VTOL aircraft, dubbed Thunder, was unveiled by Anduril at the Farnborough Airshow in England. (Archer Aviation)

It operates on a hybrid-electric powertrain that helps boost the platform's range and endurance, while it also utilizes dual tiltrotors to maintain its efficiency in different flight regimes by lowering power demand and fuel consumption when cruising and minimizing its acoustic signature to increase its survivability when making a low-altitude ingress.

FLYING TAXIS COULD SOON TAKE FLIGHT AS FAA GREEN-LIGHTS TESTS IN 26 STATES

The platform has been configured to carry modular, heavy payloads for a range of commercial and defense applications, building on Archer's experience developing and flying air taxis.

Thunder's first flight is planned to occur in 2027, according to Anduril and Archer. (Archer Aviation)

"From raw performance to producibility, harnessing the best technologies from the commercial eVTOL market for defense is how Thunder will deliver operational value to our customers," said Shane Arnott, SVP of maneuver dominance at Anduril.

"The clean-sheet, dual-use platform that we've built with Archer truly represents a step change in capability," Arnott added.

ARCHER, ANDURIL TO DEVELOP NEXT-GEN DEFENSE AIRCRAFT

Archer Aviation and Anduril Industries unveiled the dual-use platform's military variant, Thunder, at the Farnborough Airshow in England. (Courtesy of Archer Aviation)

Adam Goldstein, founder and CEO of Archer, said the clean sheet design was necessary to allow the two companies to "build from the ground up to meet the needs of modern commercial and defense applications."

"We couldn't simply tweak our existing aircraft. Instead, we took a bold first principles approach alongside Anduril to develop what we believe is the most sophisticated vertical lift aircraft ever made," Goldstein added.

Ticker Security Last Change Change % ACHR ARCHER AVIATION INC 5.27 -0.02 -0.38% A NEW WAY OF COMMUTING IS CLOSER TO TAKING OFF IN THE US

The announcement said the team behind the aircraft had completed multiple test flights with full-scale surrogate aircraft, which the companies called a critical step to proving the systems that will help power the Thunder.

Thunder's first flight is planned for 2027, according to Anduril and Archer.

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Archer is expected to announce commercial partners for the civilian variant of the VTOL.

, /PRNewswire/ --

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. The 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.

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

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

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com

SOURCE THE ROSEN LAW FIRM, P. A.

GULFPORT, Miss.--(BUSINESS WIRE)--Hancock Whitney Corporation (Nasdaq: HWC) today announced its financial results for the second quarter of 2026. Net income for the second quarter of 2026 totaled $127.0 million, or $1.55 per diluted common share (EPS), compared to $47.4 million, or $0.57 per diluted common share, in the first quarter of 2026. First quarter 2026 results include a pretax charge of $98.6 million, or $0.95 per share, of a supplemental disclosure item related to a net loss on securities portfolio restructure. There were no supplemental disclosure items in the second quarter of 2026. The company reported net income for the second quarter of 2025 of $113.5 million, or $1.32 per diluted common share. The second quarter of 2025 included $5.9 million, or $0.05 per diluted common share, of supplemental disclosure items related to the acquisition of Sabal Trust Company.

Second Quarter 2026 Highlights

Net income totaled $127.0 million, or $1.55 per diluted share, compared to $47.4 million, or $0.57 per diluted share in the first quarter of 2026 Adjusted pre-provision net revenue (PPNR) totaled $178.1 million, up $5.2 million, or 3% from the prior quarter Loans increased $588 million, or 10% linked quarter annualized (LQA) Deposits increased $548 million, or 8% LQA Criticized commercial loans decreased and nonaccrual loans were virtually flat compared to the first quarter of 2026 ACL coverage solid at 1.42% NIM of 3.56%, up 1 bp from the prior quarter CET1 ratio estimated at 13.18%, down 11 bps linked-quarter; TCE ratio of 9.78%, down 15 bps linked-quarter; total risk-based capital ratio estimated at 14.97%, down 13 bps linked-quarter Efficiency ratio of 55.31%, compared to 55.43% in the prior quarter “The second quarter of 2026 results reflect another quarter of strong performance,” said John M. Hairston, President & CEO. “Our team delivered exceptional progress on our organic growth plan with loan growth of 10% and deposit growth of 8%, linked quarter annualized. We remained focused on our investment in revenue-generating activities, including hiring 15 net new bankers in the second quarter. Profitability remains solid with EPS of $1.55, ROA of 1.42%, an efficiency ratio of 55.31%, and continued fee income growth and well-controlled expenses. Our criticized loan levels decreased during the quarter and our ACL remains robust at 1.42%. We also announced the acquisition of One Florida Bank this quarter and expect to close the transaction on August 1. We look forward to the remainder of 2026 as we continue to execute our organic growth plan and welcome the One Florida Bank associates and clients to Hancock Whitney.”

Loans

Total loans were $24.6 billion at June 30, 2026, up $588.3 million, or 2%, from March 31, 2026. Loan growth was driven primarily by an increase in C&I lending, healthcare activity, and commercial real estate across multiple products.

Average loans totaled $24.3 billion for the second quarter of 2026, up $373.9 million, or 2%, linked-quarter.

Deposits

Total deposits at June 30, 2026 were $29.6 billion, up $547.6 million, or 2%, from March 31, 2026. Deposit growth was driven primarily by an increase in interest-bearing transactions and savings, offset by decreases in retail time deposits and interest-bearing public fund deposits.

Noninterest-bearing deposits totaled $10.3 billion at June 30, 2026, virtually flat from March 31, 2026, and comprised 35% of total period-end deposits.

Interest-bearing transaction and savings deposits totaled $13.0 billion at the end of the second quarter of 2026, up $785.0 million, or 6%, linked-quarter due to competitive products and pricing.

Interest-bearing public fund deposits decreased $56.9 million, or 2%, linked-quarter, totaling $2.9 billion at June 30, 2026. The decrease in interest-bearing public fund deposits was driven by seasonal outflows. Compared to March 31, 2026, retail time deposits of $3.4 billion were down $172.4 million, or 5%, driven by maturities and repricing during the second quarter of 2026.

Average deposits for the second quarter of 2026 were $28.8 billion, down $53.8 million, or less than 1%, linked-quarter.

Asset Quality

The total allowance for credit losses (ACL) was $348.0 million at June 30, 2026, up $4.3 million, or 1% from March 31, 2026. During the second quarter of 2026, the company recorded a provision for credit losses of $13.8 million, compared to $13.2 million in the first quarter of 2026. There were $9.4 million of net charge-offs in the second quarter of 2026, or 0.16% of average total loans on an annualized basis, compared to net charge-offs of $11.1 million, or 0.19% of average total loans in the first quarter of 2026. The ratio of ACL to period-end loans was 1.42% at June 30, 2026 compared to 1.43% at March 31, 2026.

Criticized commercial loans totaled $492.0 million, or 2.55% of total commercial loans, at June 30, 2026, down $30.2 million from $522.2 million, or 2.79% of total commercial loans, at March 31, 2026. Nonaccrual loans totaled $113.7 million, or 0.46% of total loans, at June 30, 2026, compared to $113.3 million, or 0.47% of total loans, at March 31, 2026. ORE and foreclosed assets were $12.9 million at June 30, 2026, up $1.6 million, or 14%, from $11.3 million at March 31, 2026.

Net Interest Income and Net Interest Margin (NIM) (TE)

Net interest income (TE) for the second quarter of 2026 was $295.2 million, an increase of $7.7 million, or 3%, from the first quarter of 2026. The net interest margin (NIM) (TE) was 3.56% in the second quarter of 2026, up 1 bp linked-quarter, driven by the higher investment portfolio yield (+2 bps), and lower cost of deposits (+3 bps), partially offset by unfavorable borrowing costs (-3 bps) and lower loan yields (-1 bp).

Average earning assets were $33.2 billion for the second quarter of 2026, up $507 million, or 2%, from the first quarter of 2026.

Noninterest Income

Noninterest income totaled $108.4 million for the second quarter of 2026, up $100.9 million from the first quarter of 2026. Included in noninterest income in the first quarter of 2026 was a supplemental disclosure item of a ($98.6) million loss from a securities portfolio restructuring. There were no supplemental disclosure items in the second quarter of 2026.

Service charges on deposit accounts totaled $25.9 million for the second quarter of 2026, unchanged from prior quarter. Bank card and ATM fees were up $1.1 million, or 5%, from the first quarter of 2026. Investment and annuity income and insurance fees were up $2.0 million, or 16%, linked-quarter due to seasonally higher activity. Trust fees were up $1.5 million, or 6%, linked-quarter due to annual collection of tax preparation fees. Fees from secondary mortgage operations totaled $4.1 million for the second quarter of 2026, up $0.5 million, or 15%, linked-quarter.

There were no securities gains and losses in the second quarter of 2026. Securities transactions, net in the first quarter 2026 was a loss of $98.6 million, resulting from a securities portfolio restructuring identified as a supplemental disclosure item.

Other noninterest income was $14.5 million in the second quarter of 2026, down $2.8 million, or 16%, from the first quarter of 2026. The decrease in other noninterest income was primarily due to lower syndication fees and lower SBIC income.

Noninterest Expense & Taxes

Noninterest expense totaled $225.4 million, up $4.7 million, or 2% linked-quarter.

Personnel expense totaled $130.2 million in the second quarter of 2026, up $3.0 million, or 2%, linked-quarter due to annual merit increases and the impact of new hires.

Net occupancy and equipment expense totaled $18.3 million in the second quarter of 2026, up $1.0 million, or 6%, from the first quarter of 2026. Amortization of intangibles totaled $2.2 million for the second quarter of 2026, down $0.3 million, or 13%, linked-quarter.

Net expense on ORE and other foreclosed assets totaled $0.2 million in the second quarter of 2026, compared to $0.4 million in the first quarter of 2026.

Other expenses totaled $74.5 million in the second quarter of 2026, up $1.2 million, or 2%, linked-quarter.

The effective income tax rate for the second quarter of 2026 was 21.7%, compared to 19.3% in the first quarter of 2026.

Capital

Common stockholders’ equity at June 30, 2026 totaled $4.4 billion, up $24.5 million, or 1%, from March 31, 2026. The tangible common equity (TCE) ratio was 9.78%, down 15 bps linked-quarter. The company’s CET1 ratio is estimated to be 13.18% at June 30, 2026, down 11 bps linked-quarter. Total risk-based capital ratio is estimated to be 14.97% at June 30, 2026, down 13 bps linked-quarter.

During the second quarter of 2026, the company repurchased 712,966 shares of its common stock at an average price of $68.28 per share. This stock repurchase is pursuant to the company’s share buyback program (which authorizes the repurchase of up to 5%, or approximately 4.1 million shares, of the company’s outstanding common stock), which expires on December 31, 2026. Since its inception, the company has repurchased 2,112,966 shares under this share buyback program.

Conference Call and Slide Presentation

Management will host a conference call for analysts and investors at 3:30 p.m. Central Time on Tuesday, July 21, 2026 to review second quarter of 2026 results. A live listen-only webcast of the call will be available under the Investor Relations section of Hancock Whitney’s website at investors.hancockwhitney.com. A link to the release with additional financial tables, and a link to a slide presentation related to second quarter 2026 results are also posted as part of the webcast link. To participate in the Q&A portion of the call, dial 833-461-5787, access code 863473372.

A replay of the conference call will be available under the Investor Relations section of our website.

About Hancock Whitney

Since the late 1800s, Hancock Whitney has embodied core values of Honor & Integrity, Strength & Stability, Commitment to Service, Teamwork, and Personal Responsibility. Hancock Whitney offices and financial centers in Mississippi, Alabama, Florida, Louisiana, and Texas offer comprehensive financial products and services, including traditional and online banking; commercial and small business banking; private banking; trust and investment services; healthcare banking; and mortgage services. The company also operates combined loan and deposit production offices in the greater metropolitan areas of Nashville, Tennessee, and Atlanta, Georgia. More information is available at www.hancockwhitney.com.

Non-GAAP Financial Measures

This news release includes non-GAAP financial measures to describe Hancock Whitney’s performance. These non-GAAP financial measures should not be considered alternatives to GAAP-basis financial statements and other bank holding companies may define or calculate these non-GAAP measures or similar measures differently. The reconciliations of those measures to GAAP measures are provided either in the financial tables or in Appendix A thereto.

Consistent with the provisions of subpart 229.1400 of the Securities and Exchange Commission’s Regulation S-K, “Disclosures by Bank and Savings and Loan Registrants,” the company presents net interest income, net interest margin and efficiency ratios on a fully taxable equivalent (“TE”) basis. The TE basis adjusts for the tax-favored status of net interest income from certain loans and investments using the statutory federal tax rate to increase tax-exempt interest income to a taxable equivalent basis. The company believes this measure to be the preferred industry measurement of net interest income and it enhances comparability of net interest income arising from taxable and tax-exempt sources.

The company presents certain additional non-GAAP financial measures to assist the reader with a better understanding of the company’s performance period over period, as well as to provide investors with assistance in understanding the success management has experienced in executing its strategic initiatives. The company highlights certain items that are outside of our principal business and/or are not indicative of forward-looking trends in supplemental disclosures items below our GAAP financial data and presents certain “Adjusted” ratios that exclude these disclosed items. These adjusted ratios provide management or the reader with a measure that may be more indicative of forward-looking trends in our business, as well as demonstrates the effects of significant gains or losses and changes.

We define Adjusted Pre-Provision Net Revenue as net income excluding provision expense and income tax expense, plus the taxable equivalent adjustment (as defined above), less supplemental disclosure items (as defined above). Management believes that adjusted pre-provision net revenue is a useful financial measure because it enables investors and others to assess the company’s ability to generate capital to cover credit losses through a credit cycle. We define Adjusted Revenue as net interest income (te) and noninterest income less supplemental disclosure items. We define Adjusted Noninterest Expense as noninterest expense less supplemental disclosure items. We define our Efficiency Ratio as noninterest expense to total net interest income (te) and noninterest income, excluding amortization of purchased intangibles and supplemental disclosure items, if applicable. Management believes adjusted revenue, adjusted noninterest expense and the efficiency ratio are useful measures as they provide a greater understanding of ongoing operations and enhance comparability with prior periods.

Important Cautionary Statement about Forward-Looking Statements

This release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements that we may make include statements regarding our expectations of our performance and financial condition, balance sheet and revenue growth, the provision for credit losses, capital levels, deposits (including growth, pricing, and betas), investment portfolio, other sources of liquidity, loan growth expectations, management’s predictions about charge-offs for loans, the impact of current and future economic conditions, including the effects of declines in the real estate market, tariffs or trade wars (including reduced consumer spending, lower economic growth or recession, reduced demand for U.S. exports, disruptions to supply chains, and decreased demand for other banking products and services), high unemployment, inflationary pressures, increasing insurance costs, fluctuations in interest rates, including the impact of changes in interest rates on our financial projections, models and guidance and slowdowns in economic growth, as well as the financial stress on borrowers as a result of the foregoing, general economic business conditions in our local markets, Federal Reserve action with respect to interest rates, the effects of war or other conflicts, acts of terrorism, climate change, the impact of natural or man-made disasters, the adequacy of our enterprise risk management framework, potential claims, damages, penalties, fines and reputational damage resulting from pending or future litigation, regulatory proceedings, assessments, and enforcement actions, as well as the impact of negative developments affecting the banking industry and the resulting media coverage; the timing, benefits, costs and synergies of the merger with One Florida Bank, as well as statements regarding the potential impact of current or future business combinations on our performance and financial condition, including our ability to successfully identify acquisition targets and integrate the businesses, success of revenue-generating and cost reduction initiatives, the potential impact of third-party business combinations in our footprint on our performance and financial condition, the effectiveness of derivative financial instruments and hedging activities to manage risks, projected tax rates, increased cybersecurity risks, including potential business disruptions or financial losses, and the impact of artificial intelligence on our business operations, the adequacy of our internal controls over financial and non-financial reporting, the impact of changes in U.S. laws or policies, including those related to credit card interest rates, the financial impact of regulatory requirements and tax reform legislation, deposit trends, credit quality trends, net interest margin trends, future expense levels, future profitability, supplemental disclosure items, improvements in expense to revenue (efficiency) ratio, purchase accounting impacts and expected returns. Also, any statement that does not describe historical or current facts is a forward-looking statement. These statements often include the words “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “forecast,” “goals,” “targets,” “initiatives,” “focus,” “potentially,” “probably,” “projects,” “outlook," or similar expressions or future conditional verbs such as “may,” “will,” “should,” “would,” and “could.” Forward-looking statements are based upon the current beliefs and expectations of management and on information currently available to management. Our statements speak as of the date hereof, and we do not assume any obligation to update these statements or to update the reasons why actual results could differ from those contained in such statements in light of new information or future events.

Forward-looking statements are subject to significant risks and uncertainties. Any forward-looking statement made in this release is subject to the safe harbor protections set forth in the Private Securities Litigation Reform Act of 1995. Investors are cautioned against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Additional factors that could cause actual results to differ materially from those described in the forward-looking statements can be found in Part I, “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, and in other periodic reports that we file with the SEC.

  HANCOCK WHITNEY CORPORATION

FINANCIAL HIGHLIGHTS

(Unaudited)

Three Months Ended

Six Months Ended

(dollars and common share data in thousands, except per share amounts)

6/30/2026

3/31/2026

6/30/2025

6/30/2026

6/30/2025

NET INCOME Net interest income $

293,012

$

285,165

$

276,959

$

578,177

$

546,864

Net interest income (TE) (a) 295,225

287,566

279,455

582,791

552,166

Provision for credit losses 13,775

13,172

14,925

26,947

25,387

Noninterest income 108,350

7,482

98,524

115,832

193,315

Noninterest expense 225,436

220,748

215,979

446,184

421,038

Income tax expense 35,190

11,305

31,048

46,495

60,719

Net income $

126,961

$

47,422

$

113,531

$

174,383

$

233,035

Supplemental disclosure items - included above, pre-tax Included in noninterest income Loss on securities portfolio restructure $

—

$

98,595

$

—

$

98,595

$

—

Included in noninterest expense Sabal Trust Company acquisition expense $

—

$

—

$

5,911

$

—

$

5,911

PERIOD-END BALANCE SHEET DATA Loans $

24,580,173

$

23,991,840

$

23,461,750

$

24,580,173

$

23,461,750

Securities 7,891,359

8,028,014

7,868,011

7,891,359

7,868,011

Earning assets 33,039,464

32,306,650

31,965,130

33,039,464

31,965,130

Total assets 36,345,972

35,542,126

35,212,652

36,345,972

35,212,652

Noninterest-bearing deposits 10,336,866

10,344,878

10,638,785

10,336,866

10,638,785

Total deposits 29,629,760

29,082,134

29,046,612

29,629,760

29,046,612

Common stockholders' equity 4,444,134

4,419,592

4,365,419

4,444,134

4,365,419

AVERAGE BALANCE SHEET DATA Loans $

24,339,904

$

23,965,993

$

23,249,241

$

24,153,981

$

23,159,406

Securities (b) 8,285,594

8,265,682

8,271,777

8,275,693

8,256,729

Earning assets 33,205,847

32,698,837

32,081,140

32,953,742

32,052,670

Total assets 35,881,537

35,420,096

34,527,276

35,652,091

34,441,870

Noninterest-bearing deposits 10,104,015

10,033,006

10,317,446

10,068,707

10,240,760

Total deposits 28,780,937

28,834,747

28,649,900

28,807,693

28,700,875

Common stockholders' equity 4,420,837

4,461,827

4,284,279

4,441,218

4,233,827

COMMON SHARE DATA Earnings per share - diluted $

1.55

$

0.57

$

1.32

$

2.12

$

2.69

Cash dividends per share 0.50

0.50

0.45

1.00

0.90

Book value per share (period-end) 55.23

54.46

51.15

55.23

51.15

Tangible book value per share (period-end) 42.95

42.26

39.46

42.95

39.46

Weighted average number of shares - diluted 81,485

82,261

85,943

81,868

86,203

Period-end number of shares 80,471

81,152

85,351

80,471

85,351

Market data High sales price $

75.25

$

75.43

$

58.24

$

75.43

$

61.57

Low sales price 62.16

59.97

43.90

59.97

43.90

Period-end closing price 74.72

63.59

57.40

74.72

57.40

Trading volume 55,444

53,673

43,450

109,117

85,142

PERFORMANCE RATIOS Return on average assets 1.42

%

0.54

%

1.32

%

0.99

%

1.36

%

Return on average common equity 11.52

%

4.31

%

10.63

%

7.92

%

11.10

%

Return on average tangible common equity 14.84

%

5.54

%

13.71

%

10.19

%

14.21

%

Tangible common equity ratio (c) 9.78

%

9.93

%

9.84

%

9.78

%

9.84

%

Net interest margin (TE) 3.56

%

3.55

%

3.49

%

3.55

%

3.46

%

Noninterest income as a percentage of total revenue (TE) 26.85

%

2.54

%

26.07

%

16.58

%

25.93

%

Efficiency ratio (d) 55.31

%

55.43

%

54.91

%

55.37

%

55.06

%

Average loan/deposit ratio 84.57

%

83.11

%

81.15

%

83.85

%

80.69

%

Allowance for loan losses as a percentage of period-end loans 1.27

%

1.30

%

1.33

%

1.27

%

1.33

%

Allowance for credit losses as a percentage of period-end loans (e) 1.42

%

1.43

%

1.45

%

1.42

%

1.45

%

Annualized net charge-offs to average loans 0.16

%

0.19

%

0.31

%

0.17

%

0.24

%

Allowance for loan losses as a % of nonaccrual loans 274.99

%

274.67

%

329.94

%

274.99

%

329.94

%

FTE headcount 3,674

3,658

3,580

3,674

3,580

(a) Taxable equivalent (TE) amounts are calculated using a federal income tax rate of 21%. (b) Average securities does not include unrealized holding gains/losses on available for sale securities. (c) The tangible common equity ratio is common shareholders' equity less intangible assets divided by total assets less intangible assets. (d) The efficiency ratio is noninterest expense to total net interest income (TE) and noninterest income, excluding amortization of purchased intangibles and supplemental disclosure items noted above. (e) The allowance for credit losses includes the allowance for loan and lease losses and the reserve for unfunded lending commitments.   HANCOCK WHITNEY CORPORATION

QUARTERLY FINANCIAL HIGHLIGHTS

(Unaudited)

Three Months Ended

(dollars and common share data in thousands, except per share amounts) 6/30/2026

3/31/2026

12/31/2025

9/30/2025

6/30/2025

NET INCOME Net interest income $

293,012

$

285,165

$

282,170

$

279,738

$

276,959

Net interest income (TE) (a) 295,225

287,566

284,675

282,309

279,455

Provision for credit losses 13,775

13,172

13,145

12,651

14,925

Noninterest income 108,350

7,482

107,131

106,001

98,524

Noninterest expense 225,436

220,748

217,850

212,753

215,979

Income tax expense 35,190

11,305

32,734

32,869

31,048

Net income $

126,961

$

47,422

$

125,572

$

127,466

$

113,531

Supplemental disclosure items - included above, pre-tax Included in noninterest income Loss on securities portfolio restructure $

—

$

98,595

$

—

$

—

$

—

Included in noninterest expense Sabal Trust Company acquisition expense $

—

$

—

$

—

$

—

$

5,911

PERIOD-END BALANCE SHEET DATA Loans $

24,580,173

$

23,991,840

$

23,958,440

$

23,596,565

$

23,461,750

Securities 7,891,359

8,028,014

8,094,799

7,991,281

7,868,011

Earning assets 33,039,464

32,306,650

32,218,663

32,532,320

31,965,130

Total assets 36,345,972

35,542,126

35,472,762

35,766,407

35,212,652

Noninterest-bearing deposits 10,336,866

10,344,878

10,374,991

10,305,303

10,638,785

Total deposits 29,629,760

29,082,134

29,279,774

28,659,750

29,046,612

Common stockholders' equity 4,444,134

4,419,592

4,460,117

4,474,479

4,365,419

AVERAGE BALANCE SHEET DATA Loans $

24,339,904

$

23,965,993

$

23,715,763

$

23,425,895

$

23,249,241

Securities (b) 8,285,594

8,265,682

8,484,162

8,383,771

8,271,777

Earning assets 33,205,847

32,698,837

32,598,315

32,213,632

32,081,140

Total assets 35,881,537

35,420,096

35,227,286

34,751,209

34,527,276

Noninterest-bearing deposits 10,104,015

10,033,006

10,165,806

10,121,707

10,317,446

Total deposits 28,780,937

28,834,747

28,816,539

28,492,076

28,649,900

Common stockholders' equity 4,420,837

4,461,827

4,417,711

4,368,746

4,284,279

COMMON SHARE DATA Earnings per share - diluted $

1.55

$

0.57

$

1.49

$

1.49

$

1.32

Cash dividends per share 0.50

0.50

0.45

0.45

0.45

Book value per share (period-end) 55.23

54.46

54.22

52.82

51.15

Tangible book value per share (period-end) 42.95

42.26

42.16

41.07

39.46

Weighted average number of shares - diluted 81,485

82,261

83,791

85,453

85,943

Period-end number of shares 80,471

81,152

82,259

84,711

85,351

Market data High sales price $

75.25

$

75.43

$

67.10

$

64.66

$

58.24

Low sales price 62.16

59.97

54.05

56.87

43.90

Period-end closing price 74.72

63.59

63.68

62.61

57.40

Trading volume 55,444

53,673

55,269

51,077

43,450

PERFORMANCE RATIOS Return on average assets 1.42

%

0.54

%

1.41

%

1.46

%

1.32

%

Return on average common equity 11.52

%

4.31

%

11.28

%

11.58

%

10.63

%

Return on average tangible common equity 14.84

%

5.54

%

14.55

%

15.00

%

13.71

%

Tangible common equity ratio (c) 9.78

%

9.93

%

10.06

%

10.01

%

9.84

%

Net interest margin (TE) 3.56

%

3.55

%

3.48

%

3.49

%

3.49

%

Noninterest income as a percentage of total revenue (TE) 26.85

%

2.54

%

27.34

%

27.30

%

26.07

%

Efficiency ratio (d) 55.31

%

55.43

%

54.93

%

54.10

%

54.91

%

Average loan/deposit ratio 84.57

%

83.11

%

82.30

%

82.22

%

81.15

%

Allowance for loan losses as a percentage of period-end loans 1.27

%

1.30

%

1.28

%

1.33

%

1.33

%

Allowance for credit losses as a percentage of period-end loans (e) 1.42

%

1.43

%

1.43

%

1.45

%

1.45

%

Annualized net charge-offs to average loans 0.16

%

0.19

%

0.22

%

0.19

%

0.31

%

Allowance for loan losses as a % of nonaccrual loans 274.99

%

274.67

%

287.95

%

276.20

%

329.94

%

FTE headcount 3,674

3,658

3,627

3,603

3,580

(a) Taxable equivalent (TE) amounts are calculated using a federal income tax rate of 21%. (b) Average securities does not include unrealized holding gains/losses on available for sale securities. (c) The tangible common equity ratio is common shareholders' equity less intangible assets divided by total assets less intangible assets. (d) The efficiency ratio is noninterest expense to total net interest income (TE) and noninterest income, excluding amortization of purchased intangibles and supplemental disclosure items noted above. (e) The allowance for credit losses includes the allowance for loan and lease losses and the reserve for unfunded lending commitments.

, /PRNewswire/ -- The Board of Directors of MSA Safety Inc. (NYSE: MSA), a global leader in the development of advanced industrial safety technology products and solutions, today announced that Octavio Marquez, president and chief executive officer of Diebold Nixdorf, has been elected to the company's Board of Directors. His election was part of the MSA Board's regular succession plans.

Octavio Marquez "We are very pleased to have the opportunity to add Octavio to the MSA Board," said Robert A. Bruggeworth, MSA chairman. "He brings a broad range of executive leadership experience, including strategy development, capital allocation, business transformation and serving international markets, which will serve MSA well."

"Octavio's perspectives will be an asset to me and our entire Executive Leadership Team," said Steven C. Blanco, MSA president and CEO. "It is a pleasure to welcome Octavio to MSA, and I look forward to working with him."

Mr. Marquez joined Diebold Nixdorf in 2014 and has held senior leadership roles across the company's Global Banking organization and its Americas region, including as executive vice president of Global Banking and senior vice president of the Americas. Before joining Diebold Nixdorf, Mr. Marquez held leadership positions at Dell EMC, Hewlett Packard Enterprise, IBM and NCR.

Diebold Nixdorf automates, digitizes and transforms the way people bank and shop. As a partner to the majority of the world's top 100 financial institutions and top 25 global retailers, its integrated solutions connect digital and physical channels conveniently, securely and efficiently for millions of customers every day. Headquartered in North Canton, Ohio, Diebold Nixdorf employs approximately 20,000 employees globally, supporting more than 100 countries.

Mr. Marquez holds a degree in business and finance from Universidad Iberoamericana and has completed executive education programs at MIT Sloan, The Wharton School and The University of Texas at Austin.

About MSA Safety

MSA Safety Incorporated (NYSE: MSA) is the global leader in advanced industrial safety technology products and solutions. Driven by its singular mission of safety, the company has been at the forefront of safety innovation since 1914, protecting workers and facility infrastructure around the world across a broad range of diverse end markets while creating sustainable value for shareholders. With 2025 revenues of $1.9 billion, MSA Safety is headquartered in Cranberry Township, Pennsylvania, and employs a team of approximately 5,300 associates across its more than 40 international locations. For more information, please visit www.MSASafety.com.

SOURCE MSA Safety

Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Viking Therapeutics, Inc. (NASDAQ: VKTX) breached their fiduciary duties to shareholders.  The investigation concerns potential self-dealing. Shareholders may be entitled to damages and corporate governance reforms.

If you are a long-term VKTX stockholder please contact Sophia Anne Silayan by email at [email protected] or call (833) 672-0814.  The consultation and case are free with no obligation to you.  Kuehn Law pays all case costs and does not charge its investor clients. Shareholders should contact the firm immediately as there may be limited time to enforce your rights. 

Why Your Participation Matters:

As a shareholder your voice matters, and by getting involved, you contribute to the integrity and fairness of the financial markets. Your investment. Your voice. Your future.™ 

For additional information, please visit Shareholder Derivative Litigation - Kuehn Law.

Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts:
Kuehn Law, PLLC
Justin Kuehn, Esq.
53 Hill Street, Suite 605
Southampton, NY 11968
[email protected]
(833) 672-0814

SOURCE Kuehn Law, PLLC

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This news release constitutes a “designated news release” for the purposes of the prospectus supplement dated January 12, 2026 to the short form base shelf prospectus of Brookfield Renewable Corporation and Brookfield Renewable Partners L.P.

BROOKFIELD, News, July 21, 2026 (GLOBE NEWSWIRE) -- Brookfield Renewable Partners L.P. (NYSE: BEP; TSX: BEP.UN) (“BEP”) and Brookfield Renewable Corporation (NYSE: BEPC; TSX: BEPC) (“BEPC”, and together with BEP, “Brookfield Renewable”) today announced that it has approved plans to simplify its corporate structure (the “Simplification”) by converting BEP and BEPC into one publicly traded corporation, Brookfield Renewable Partners Inc. (“BEP Inc.”).  

“We are pleased to take this important step in the evolution of Brookfield Renewable,” said Connor Teskey, Chief Executive Officer of Brookfield Renewable. “By simplifying our corporate structure, we expect to enhance the accessibility of our securities to a broader range of investors, support increased index demand and provide a traditional corporate ownership structure. We believe this transaction will strengthen our position over the long term and create lasting value for our investors.”

Benefits of a Simplified Structure

Brookfield Renewable expects the Simplification to be tax-deferred for Canadian and U.S. investors and completed without any meaningful cost to the business, while providing securityholders with the following benefits, among others:

Improved consolidated trading liquidity through a single listed security;Increased demand from current indices and potential additional index inclusion;Stronger alignment with long-term capital allocation trends toward indexable and ETF-eligible corporate securities;Simplified investor analysis, screening, and benchmarking through a single listed reporting entity;Broader access to a larger pool of investors who prefer corporate structures;Enhanced governance framework and voting rights for public securityholders; andFor BEP unitholders, elimination of onerous partnership tax reporting forms and preferential dividend tax rates for many Canadian and U.S. taxable investors. Corporate Simplification Details

Under the terms of the Simplification, upon receipt of approval from BEP unitholders, all outstanding limited partnership units of BEP, other than preferred units, will, together with certain related exchangeable securities, be exchanged on a one-for-one basis for newly issued shares of BEP Inc.

BEPC shareholders will separately be asked to approve the Simplification, pursuant to which their class A exchangeable subordinate voting shares in BEPC (the “BEPC exchangeable shares”) will be exchanged for new shares of BEP Inc. on a one-for-one basis. If BEPC shareholders vote in favor of the Simplification, the exchange can also be completed on a tax-deferred basis. If BEPC shareholders do not approve the Simplification, the BEPC exchangeable shares will remain outstanding and become exchangeable, on a one-for-one basis, for newly issued shares of BEP Inc., rather than being exchangeable for units of BEP as they are today.

Completion of the exchange of BEP limited partnership units for shares of BEP Inc. is not conditional on BEPC shareholder approval.

Special meetings of BEP unitholders and BEPC shareholders will be held on October 14, 2026, and securityholders of record as of the close of business on August 21, 2026 will be entitled to vote at the applicable meeting. The Simplification will be implemented by way of a court-approved plan of arrangement and will be subject to customary regulatory approvals for a transaction of this nature, including approval for the listing of BEP Inc.’s shares on the New York Stock Exchange and Toronto Stock Exchange. Following securityholder approval, Brookfield Renewable expects to complete the Simplification in the fourth quarter of 2026.

There will be no change to Brookfield’s ownership of Brookfield Renewable as a result of the Simplification. BEP’s preferred units and public debt will remain outstanding and unaffected by the Simplification.

Brookfield Asset Management’s management fee and incentive distribution arrangements will continue in a manner consistent with Brookfield Renewable’s existing arrangements.

The Board of Directors of each of BEP and BEPC, based in part on the unanimous recommendations of their respective nominating and governance committees (consisting entirely of independent directors) and the fairness opinions received from Scotiabank, unanimously determined that the Simplification is in the best interests of BEP and BEPC, respectively, and have unanimously resolved to approve the Simplification and recommend that BEP unitholders and BEPC shareholders vote in favor of the Simplification.

Torys LLP is acting as legal advisor to Brookfield Renewable for the Simplification.

Scotiabank is acting as independent financial advisor and Goodmans LLP is acting as independent legal counsel to the nominating and governance committees of each of BEP and BEPC in connection with the Simplification.

Further information regarding the Simplification, including details on the votes that will be required and the other conditions for closing, will be contained in a joint management information circular of BEP and BEPC.

Copies of the joint management information circular, the arrangement agreement, the plan of arrangement and certain related documents will be filed with the applicable Canadian securities regulators and with the United States Securities and Exchange Commission and will be available on SEDAR+ at https://sedarplus.ca and on EDGAR at https://sec.gov.

About Brookfield Renewable

Brookfield Renewable operates one of the world’s largest publicly traded platforms for renewable power and sustainable solutions. Our renewable power portfolio consists of hydroelectric, wind, utility-scale solar, distributed solar and storage facilities and our sustainable solutions assets include our investment in a leading global nuclear services business and a portfolio of investments in carbon capture and storage capacity, agricultural renewable natural gas, materials recycling and eFuels manufacturing capacity, among others.

Investors can access the portfolio either through Brookfield Renewable Partners L.P. (NYSE: BEP; TSX: BEP.UN), a Bermuda-based limited partnership, or Brookfield Renewable Corporation (NYSE, TSX: BEPC), a Canadian corporation. Further information is available at https://bep.brookfield.com.

Brookfield Renewable is the flagship listed energy company of Brookfield Asset Management, a leading global alternative asset manager headquartered in New York, with over $1 trillion of assets under management. For more information, go to https://brookfield.com.

Contact Information

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. Any securities to be issued in the transaction will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States, and any securities issued in connection with the transaction are anticipated to be issued in reliance upon the exemption from the registration requirements of the U.S. Securities Act provided for by Section 3(a)(10) thereof and in accordance with applicable state securities laws.

Cautionary Statement Regarding Forward-looking Statements

This news release may contain “forward-looking information” within the meaning of Canadian securities laws and “forward-looking statements” within the meaning of applicable U.S. securities laws. The words “will”, “target”, “future”, “growth”, “expect”, “believe”, “may”, derivatives thereof and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify the above mentioned and other forward-looking statements. Forward-looking statements or information in this news release include statements with respect to the Simplification and the special meetings of the unitholders of BEP and the shareholders of BEPC.

Although Brookfield Renewable believes that these forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on them, or any other forward-looking statements or information in this news release. The future performance and prospects of Brookfield Renewable, and the completion of the Simplification, are subject to a number of known and unknown risks and uncertainties, which could cause actual results to differ materially from those contemplated or implied by the forward-looking statements or information in this news release. Such risks and factors are described in the documents filed by Brookfield Renewable with the securities regulators in Canada and the United States including under “Risk Factors” in the most recent Annual Report on Form 20-F of BEP and in the most recent Annual Report on Form 20-F of BEPC, and other risks and factors that are described therein. Certain risks and uncertainties specific to the proposed Simplification will be further described in the joint management information circular of BEP and BEPC to be delivered to security holders in advance of the special meetings. Except as required by law, Brookfield Renewable undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.

Any statements contained herein with respect to tax consequences are of a general nature only and are not intended to be, nor should they be construed to be, legal or tax advice to any person, and no representation with respect to tax consequences is made. Unitholders and shareholders are urged to consult their tax advisors with respect to their particular circumstances.

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or sell securities. Before buying or selling any stock, you should do your own research and reach your own conclusion or consult a financial advisor. Investing includes risks, including loss of principal.

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

Oklo stock is charging ahead with explosive momentum. What’s driving OKLO stock higher? Oklo, X-Energy To Join Power Plant ProgramOklo and X-Energy will join Microsoft and Nvidia in a Trump administration-led effort to accelerate the construction of new power plants for AI data centers, according to a Bloomberg report citing a document reviewed by Bloomberg News.

The $200 million program reportedly aims to address mounting concern that the data center buildout fueling the AI boom has pushed up electricity prices across the country.

The report indicates that an official announcement could come as soon as Wednesday.

Nuclear power has emerged as one of the more compelling answers to AI’s soaring electricity demand, largely because it provides large amounts of around-the-clock baseload power without producing direct carbon emissions. That combination has driven a wave of activity, from tech companies signing long-term deals to restart or contract existing plants to growing investment in small modular reactors.

OKLO, XE Shares Rise After the BellAt the time of publication, Oklo shares were up 6.31% at $46.50 in after-hours, and X-Energy shares were up 7.22% at $16.79, according to Benzinga Pro.

Image: Shutterstock.com

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Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Quantum Computing Inc. (NASDAQ: QUBT) breached their fiduciary duties to shareholders. The investigation concerns potential self-dealing. Shareholders may be entitled to damages and corporate governance reforms.

If you are a long-term QUBT stockholder please contact Sophia Anne Silayan by email at [email protected] or call (833) 672-0814. The consultation and case are free with no obligation to you. Kuehn Law pays all case costs and does not charge its investor clients. Shareholders should contact the firm immediately as there may be limited time to enforce your rights.

Why Your Participation Matters:

As a shareholder your voice matters, and by getting involved, you contribute to the integrity and fairness of the financial markets. Your investment. Your voice. Your future.™

For additional information, please visit Shareholder Derivative Litigation - Kuehn Law.

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Contacts:
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Sandisk (SNDK +14.27%) has been a breakout success since it went public in February 2025, following its spinoff from Western Digital. The returns for this flash memory storage drive manufacturer for artificial intelligence (AI) accelerators, quite frankly, have been staggering.

After its IPO in February 2025, it began trading at $36 per share on Feb. 13, 2025. Roughly 17 months later, on July 20, it is trading at about $1,420 per share. That's a total return of roughly 3,844%, including a 470% year-to-date return.

What's even more shocking than that is that this return includes a massive sell-off in recent weeks.

Image source: Getty Images.

Sandisk stock had reached a closing high of $2,335 per share on June 25. At that point, Sandisk stock had a total return of almost 6,400% since its market debut. It was also up 885% year to date as of June 25. But since that June 25 high, it has dropped about 39% or nearly $1,000 per share.

So, what caused the sell-off, and is Sandisk still a buy, or is this the start of a long drawdown?

Staggering revenue growth The sharp decline in Sandisk's stock price is not due to any hiccup in its insane growth trajectory. Last quarter, its fiscal third quarter, revenue was up 97% from the previous quarter and 251% year over year. Earnings were $23.03 per share, up 347% sequentially and up from a $13.33 per share net loss a year ago.

The surge is due to extreme demand for memory storage drives to handle the flood of AI compute being unleashed in data centers and by hyperscalers. And because demand is so high, Sandisk has been able to increase prices, further fueling revenue gains.

For Q4 2026, Sandisk anticipates $7.75 billion to $8.25 billion in revenue, up 30% to 38% from Q3. Further, its gross margin is anticipated to increase from 78.4% in Q3 to 78.9%-80.9% in Q4.It is already sold out of its AI storage drives for 2026 and has at least $42 billion in backlog as of last quarter, so growth does not appear to be slowing down.

Is Sandisk a buy after the sell-off? Sandisk's rising valuation and broader concerns about unsustainably high stock prices among chipmakers and memory stocks have been catalysts for the recent sell-off. It has prompted investors to cash in on the huge profits they have accrued, which has brought down the share prices of Sandisk and other memory stocks.

Today's Change

(

14.27

%) $

198.45

Current Price

$

1,589.40

Sandisk's price-to-earnings (P/E) ratio rose to 45, the highest since it went public, again, in 2025. (Sandisk had been a public company from 1995 until 2016, when Western Digital bought it.) And its forward P/E rose to 21, which is higher, but still relatively cheap.

I really look at this sell-off as a reset for Sandisk. With Q4 earnings coming up on Aug. 5, investors can expect another blowout quarter and a robust outlook, and I wouldn't be surprised to see the stock rise again in the second half after this dip.

Wall Street agrees, as 77% of analysts rate it a buy with a median price target of $2,500, suggesting 74% upside.

Are ALOT, IRDM, ESI, SOLS Obtaining Fair Deals for their Shareholders? PR Newswire NEW YORK, July 21, 2026

HomeStock IdeasLong IdeasTech 

SummaryWall Street now carries 18 Buy ratings, eight Holds, and no Sells, while management reaffirmed $355-365 million quarterly revenue guidance.PCIe 6 products already contribute more than one-third of revenue, while 36% non-GAAP operating margins demonstrate strong operating leverage.Analysts raised EPS estimates 21 times and revenue estimates 20 times without a single downward revision, supporting 82% 2026 revenue growth expectations.Astera is expanding beyond retimers into fabric switches, memory connectivity, and rack-scale infrastructure, strengthening its role inside Nvidia's AI ecosystem. kynny/iStock via Getty Images

My investment outlook on Astera Labs, Inc. (ALAB) is getting even more compelling since the market is slowly starting to move away from the topic of how much hyperscalers are going to invest

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of ALAB either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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

Space Exploration Technologies (SPCX +3.19%) continues to enthrall investors, but so far, it hasn't been the hit that many may have been expecting. As of this writing, SpaceX (as the company is also known) is 40% off its peak and well below both its $135 initial public offering (IPO) price and its $150 opening price on its first day of trading.

But what investors really want to know is what comes next: Is it a bargain at the current price, and could this be the right time to buy? What has happened to other mega-IPOs may shed some light on that question.

Not the stocks you're thinking of When you hear "mega-IPO," you might be thinking of today's biggest companies, like Apple, Nvidia, and Microsoft. But these companies went public decades ago, at much smaller sizes, before they were household names, and before the mega-IPO was a thing.

In today's world, it's hard to keep a great IPO a secret, and many companies have been waiting to go public until after they've gained status and popularity. Not only was SpaceX the biggest IPO ever, it was followed up only weeks later by the secondary listing of SK Hynix on the Nasdaq, which was the second-biggest initial offering ever and the biggest international IPO ever.

But some of the largest IPOs in history are companies you know about, and some of them have become some of the most valuable companies in the world. Consider Visa, Meta Platforms (which went public as Facebook), General Motors, and Rivian.

CompanyIPO ValueCurrent ValueShare Price Change After 1 MonthShare Price Change After 1 YearVisa$18 billion$676 billion22%(7)%Meta Platforms (Facebook)$16 billion$1.6 trillion(18)%(31)%General Motors$23 billion$69 billion0%(36)%Rivian$12 billion$22 billion15%(70)% Data source: YCharts, CNBC, Forbes.

As you can see, results for such debuts have been mixed. This is only a tiny sampling, and some of the other largest historical IPOs are companies that retail investors may not have heard of, like ENEL and Telstra (a point that doesn't bode well for large IPOs).

Can SpaceX bounce back? Big, splashy IPOs don't necessarily lead to big gains, at least not immediately. Other than SpaceX, the only large IPOs that have become megacap companies are Meta and Visa, which are the seventh- and 16th-most-valuable companies by market cap in the U.S., respectively.

Over time, most large IPO stocks have come back from their early declines, but few of them have been the kinds of stocks that have minted millionaires. SpaceX may rebound over time, but you're likely to find better buys among lower-key IPOs that have great fundamentals.

Jennifer Saibil has positions in Apple and Rivian Automotive. The Motley Fool has positions in and recommends Apple, Meta Platforms, Microsoft, Nvidia, Telstra Group, and Visa. The Motley Fool recommends General Motors. The Motley Fool has a disclosure policy.

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Apple is raising prices on Apple Music subscriptions as well as certain Apple One plans as the company faces higher licensing costs.

The tech giant last week hiked prices for Apple Music plans across subscription tiers. Individual plans will rise by $1 a month to $11.99, while student plans will increase by the same amount to $6.99 a month.

Prices for the Apple Music family plan are also rising by $3 per month to a new monthly rate of $19.99.

The company also hiked prices for some tiers of Apple One – the company's bundle that allows consumers to subscribe simultaneously to Apple TV, Music, iCloud+, Arcade, Fitness+ and News+ or the first four services.

APPLE RAISES IPAD AND MACBOOK PRICES AS MEMORY CHIP COSTS SURGE

Apple raised prices on Apple Music plans as well as some Apple One packages. (CFOTO/Future Publishing via Getty Images)

Prices for the Apple One family tier are set to rise by $2 to a new total of $27.95 per month. Family plans may be shared with up to five people and have up to 200 gigabytes of iCloud storage, though they don't include News+ or Fitness+ in the package.

The individual Apple One subscription, which includes the same four services but with 50 gigabytes of iCloud storage, is unchanged at $19.95 a month.

Apple One's Premier package, which includes all six of the company's subscription services with up to 2 terabytes of storage and may be shared among five people, will rise in price by $2 to $39.95 per month.

APPLE BRIEFLY OVERTAKES NVIDIA AS WORLD'S MOST VALUABLE COMPANY AMID AI INVESTMENT DOUBTS

Ticker Security Last Change Change % AAPL APPLE INC. 327.74 +1.15 +0.35% The price increases apply to consumers in the U.S. as well as other countries around the world.

The moves weren't announced by Apple, which adjusted the prices for the various subscriptions and tiers on its website on Friday. Apple told 9to5Mac, "As a result of rising licensing costs, Apple Music is increasing its subscription price beginning today."

FOX Business reached out to Apple for comment.

APPLE HIT WITH LAWSUIT CLAIMING ICLOUD+ PRIVACY TOOL COULD EXPOSE USERS' REAL EMAILS TO WEBSITES

Apple's subscription price hikes follow higher iPad and MacBook prices. (Apple)

In late June, Apple announced price hikes for its iPad tablets and MacBook laptops amid rising memory chip costs.

The company raised the price of the MacBook Air by $200 to a new total of $1,299, while the budget Neo laptop price rose from $599 to $699. The price of a MacBook Pro with 1 terabyte of storage rose $300 to $1,999, while the iPad Air with 128 gigabytes of storage rose from $599 to $749.

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Apple said at the time that it has "never seen a component price increase this much, this quickly," adding that it had "shielded our customers from these increases so far, but we have now reached a point where we need to begin raising prices on a number of products."

Here are the earnings estimates, what experts are saying ahead of the report and the key items to watch.

Tesla Q2 Earnings EstimatesAnalysts expect Tesla to report second-quarter revenue of $25.24 billion, up from $22.50 billion in last year’s second quarter, according to data from Benzinga Pro.

The company has beaten analyst estimates for revenue in four straight quarters and in five of the last 10 quarters overall.

Analysts expect Tesla to report second-quarter earnings per share of 44 cents, up from 40 cents per share in last year’s second quarter.

The company has beaten analyst estimates for earnings per share in two straight quarters and in four of the last 10 quarters overall.

What Experts Are SayingTesla investors are looking for second-quarter results to show signs of improvement with the stock one of the worst performing Magnificent Seven stocks in 2026, Freedom Capital Markets Chief Market Strategist Jay Woods said in a weekly newsletter.

"Shareholders are hopeful this quarter will be the one that helps turn things around. Shares have traded lower after three of the last four reports with an average loss of -5% over that time," Woods said.

The market expert says AI will be the top thing on the mind of Tesla investors for the earnings report.

"Will there be updates surrounding robotaxis, Full Self-Driving, Cybercab production, and the Optimus robot as Telsa continues its transition from an automaker to an AI and robotics story?"

For the automotive part of the business, Woods said investors should watch margins closely to see if they stabilize after pricing pressure in recent quarters and to see if the core segment can help produce the cash needed to fund growth initiatives.

Woods said one negative reaction to the earnings report could send the stock back to April lows around $340. If investors react positively, a nice pop could take shares to the resistance at the 200-day moving average around $417, Woods added.

"A strong rebound may hit major resistance near $420. Seeing it is one of Elon Musk’s favorite numbers, it may need to eclipse this mark before the strongest bullish case can be made to own shares."

Deepwater Management Managing Partner Gene Munster says investors will be watching for higher capex, automotive gross margins, an update on the robotaxi rollout and an update on the Cybercab production ramp.

"The bottom line is the long-term growth story is intact," Munster said in a blog post.

The market expert doesn’t expect any big updates on robotaxis, Cybercab, FSD or Optimus. Munster said he expects one minor update to be that Cybercab production ramp to shift from late 2026 to the first half of 2027.

"I believe Elon will reiterate that everything is moving in the right direction."

Here are recent analyst ratings on Tesla stock and their price targets:

GLJ Research: Reiterated Sell rating, price target $24.86 Morgan Stanley: Maintained Equal-Weight rating, raised price target from $415 to $417 Barclays: Maintained Equal-Weight rating, raised price target from $360 to $370 Wells Fargo: Maintained Underweight rating, raised price target from $125 to $130 Key Items to WatchTesla already reported second-quarter deliveries of 480,126 vehicles, up 25% year-over-year. The total beat a Street estimate of 406,000.

Munster previously attributed some of the outperformance to higher gas prices and increased demand for electric vehicles. Investors and analysts will be watching to see if management says this was the case and if it bodes well for future quarters with ongoing Middle East tension.

Munster’s guess that the Cybercab production ramp could be pushed back is an item to watch, as it could spook investors. Tesla previously said it was on track for "this year" for both Cybercab and Tesla Semi.

Investors also want an update on Optimus, which is said to be one of the company’s biggest catalysts ever and the reason why Tesla stopped selling several vehicle models to get factories ready for production.

Tesla Stock Price ActionTesla stock was up 2.5% to $378.93 on Tuesday versus a 52-week trading range of $297.82 to $498.82. Tesla stock is down 13.3% year-to-date in 2026, with shares near a three-month low.

Photo: TY Lim / Shutterstock

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, /PRNewswire/ -- Glancy Prongay Wolke & Rotter LLP, a leading national shareholder rights law firm, continues its investigation on behalf of Alphabet Inc. ("Alphabet" or the "Company") (NASDAQ: GOOG) investors concerning the Company's possible violations of the federal securities laws.  

IF YOU ARE AN INVESTOR WHO LOST MONEY ON ALPHABET INC. (GOOG), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS.

What Happened? 
On July 16, 2026, Bloomberg news reported that Alphabet's Google is "months behind schedule on delivering Gemini 3.5 Pro, its most powerful flagship AI model" due to the Company's ongoing coding efforts. Specifically, "[l]ate last month, Google updated the data being used to train Gemini in an attempt to improve [its] skills, but the results were disappointing."

On this news, Alphabet's stock price fell $16.40, or 4.4%, to close at $353.81 per share on July 16, 2026, thereby injuring investors.

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If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us.
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Persons with non-public information regarding Alphabet should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email [email protected].

About Glancy Prongay Wolke & Rotter LLP
GPWR is a premier law firm with decades of experience representing investors and consumers in securities litigation and other complex class action litigation. Recognizing the firm's recent successes, GPWR was named one of Law360's Securities Groups of the Year and ranked second-highest in total investor recoveries by Institutional Shareholder Services Securities Class Action Services in 2025. GPWR's lawyers have handled cases covering a wide spectrum of corporate misconduct and relating to nearly all industries and sectors. GPWR's past successes have been widely covered by leading news and industry publications such as The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron's, Investor's Business Daily, Forbes, and Money. Prior results do not guarantee a similar outcome.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contact Us: 
Glancy Prongay Wolke & Rotter LLP,
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SOURCE Glancy Prongay Wolke & Rotter LLP

HomeStock IdeasLong IdeasTech 

SummaryMicrosoft Corporation is shifting from seat-based software subscriptions to consumption-driven AI monetization across its ecosystem.MSFT’s record $190B capital expenditure is backed by confirmed demand, with Azure capacity still lagging customer needs and $627B in contracted obligations.Copilot and GitHub Copilot adoption is accelerating, with usage-based pricing driving scalable, recurring revenue and deepening enterprise integration.At 23x forward earnings and 15-21% projected EPS growth, MSFT’s risk/reward profile is highly attractive despite near-term margin pressure. tupungato/iStock Editorial via Getty Images

Microsoft Corporation's (MSFT) recent correction has been caused almost exclusively by fears of its record-breaking capital expenditures on AI. I think the market is making the same mistake it did during the initial Azure

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

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