Origin Bancorp NYSE: OBK reported stronger second-quarter earnings as management said its “Optimize Origin” initiative is translating into improved profitability, disciplined growth and stronger client acquisition across its footprint.
The company reported diluted earnings per share of $1.09 and net income of $33.8 million for the second quarter. Chief Financial Officer Wally Wallace said the result represented Origin’s strongest quarterly earnings performance since the fourth quarter of 2021. Return on average assets was 1.35%, above the company’s near-term run-rate objective of 1.15%, while pre-tax, pre-provision return on average assets was 1.73%.
Chairman, President and Chief Executive Officer Drake Mills said the quarter reflected progress from work begun about 18 months ago under Optimize Origin, which he described as a strategy focused on stronger financial performance, capital allocation, technology investment, talent recruitment and client service.
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“What encourages me most is the consistency of our performance,” Mills said. “Optimize Origin has become the way we operate.”
Loan Growth Led by Texas and Southeast Markets President and CEO of Origin Bank Lance Hall said the company continued to benefit from what management described as disruption across its markets, particularly in banker and client acquisition. Since April 1, Origin added 12 experienced bankers, following 15 additions in the first quarter. The company also expanded into Birmingham, Alabama, with a local team of experienced bankers and added production talent in North Texas, Houston, East Texas and Mississippi.
Hall said year-to-date growth included $196 million in commercial and industrial and owner-occupied commercial real estate loans, $167 million in other commercial real estate categories and $61 million in mortgage warehouse lending. Through the first half of the year, Texas and Southeast markets generated $323 million of loan growth, including about $250 million from Texas on approximately $860 million of new loan production.
Wallace said total loans grew 2.7% sequentially in the quarter and 1.9% excluding mortgage warehouse loans. Management said it continues to target loan and deposit growth in the mid- to high-single-digit range for the year, while tracking toward the higher end of that range.
During the question-and-answer session, Hall said the primary drivers of loan growth were Texas and the Southeast, though all markets contributed. He said more than 50% of year-to-date loan growth has come from C&I lending, and that the company’s average loan size remains about $590,000. Hall said new loans in the most recent month were coming in at about 6.4%.
Hall also said the company is seeing pricing and term pressure from competitors, including more frequent offers of non-recourse structures, but said Origin intends to remain conservative in its credit approach.
Deposit Mix Improves as Noninterest-Bearing Balances Rise Origin’s total deposits declined 0.6% during the quarter, which Wallace said was consistent with seasonal trends. However, noninterest-bearing deposits increased 9.6% sequentially and 5.2% on an average basis, ending the quarter at 26% of total deposits, or 25% on an average basis.
Hall said noninterest-bearing deposit growth was evidence that Origin’s bankers are winning primary banking relationships. Deposit account openings increased more than 36% year over year in the first half of the year, and June account openings were up 82% year over year. In response to an analyst question, Hall said the company opened more than 1,800 new deposit accounts in June, compared with just under 1,000 a year earlier.
Hall attributed the growth to a combination of lift-outs, market disruption and dissatisfaction among clients of some competitors. He said new deposit costs were about 2.7%.
Margin Expands, Net Interest Income Outlook Raised Wallace said net interest margin expanded 21 basis points during the quarter to 3.92%, exceeding the company’s expectations. Net interest income rose 5.7% sequentially to $92.2 million, despite a 1% decline in average earning assets. The margin improvement was driven by stronger loan yields, slightly lower deposit costs and the runoff of excess liquidity tied to normal seasonality.
Wallace said Origin removed any Federal Reserve rate actions from its forecast for the remainder of the year and expects margin to remain relatively flat. Combined with balance sheet growth expectations, the company now anticipates net interest income growth in the high-single digits for both the full year and fourth-quarter-over-fourth-quarter basis.
In response to a question from Raymond James analyst Michael Rose, Wallace said the quarter included about three basis points of benefit from interest reversals or recoveries on nonaccrual loans. He also noted that approximately $250 million of fixed-rate loans are expected to reprice or pay off in the back half of the year, with the company picking up about 160 to 170 basis points based on current pricing.
Credit Metrics Improve Chief Risk Officer Jim Crotwell said Origin experienced “sound and improving credit metrics” during the quarter. Total past dues 30 to 89 days and accruing declined to 0.06%, the lowest level in the past five quarters. Net charge-offs totaled $454,000, benefiting from $2 million in recoveries, and annualized net charge-offs were 0.02% for the quarter and 0.08% year to date.
Nonperforming assets declined $9 million to 0.98% of loans, also the lowest level in the past five quarters. Classified assets decreased to 1.79% from 1.97% in the prior quarter. Origin’s allowance for credit losses declined $827,000 to $98.2 million, or 1.30% of total loans net of mortgage warehouse, down from 1.34%.
Crotwell said the company continues to have capacity to grow acquisition, development and construction, and commercial real estate lending, with ADC loans at 51% of total risk-based capital and CRE at 237%.
Capital Return and Outlook Wallace said tangible book value increased sequentially to $36.37, marking the 15th consecutive quarter of growth. The tangible common equity ratio ended the quarter at 11.1%. Origin repurchased 217,034 shares during the quarter at an average price of $46.60, and its board increased the share repurchase authorization by $100 million, leaving $121.6 million remaining.
The company also continued returning capital through its recently increased quarterly dividend. Wallace said Origin’s balance sheet, earnings profile and capital position give it flexibility to invest in growth and return capital to shareholders.
Management also addressed the company’s crossing of the $10 billion asset threshold. Hall said Origin has “completely crossed it” and that the Durbin Amendment impact is expected to begin mid-year next year, with an estimated effect of $4 million to $4.5 million. He said the company is working to offset that impact and has most of the related cost behind it.
Mills said Origin remains focused on becoming a top-quartile performer over the next three years, while continuing to invest in talent, technology, automation and artificial intelligence. He said the company will pursue growth opportunities but not at the expense of the return targets it is attempting to achieve.
“The results we’re discussing today aren’t the destination,” Mills said. “It’s evidence that the transformation is working.”
About Origin Bancorp (NYSE:OBK)Origin Bancorp, Inc NYSE: OBK is a bank holding company based in Atlanta, Georgia, and is the parent of Origin Bank, a full-service commercial banking franchise. The company provides a broad range of financial products and services to individuals, small and middle-market businesses, and institutional clients across the southeastern United States.
Through Origin Bank, the company offers a variety of deposit products, including checking and savings accounts, money market accounts, and certificates of deposit.
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Boston Beer (SAM - Free Report) came out with quarterly earnings of $3.65 per share, missing the Zacks Consensus Estimate of $4.77 per share. This compares to earnings of $5.45 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -23.48%. A quarter ago, it was expected that this brewer would post earnings of $1.85 per share when it actually produced earnings of $1.64, delivering a surprise of -11.35%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Boston Beer, which belongs to the Zacks Beverages - Alcohol industry, posted revenues of $568.34 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 0.63%. This compares to year-ago revenues of $587.95 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Boston Beer shares have lost about 10.9% since the beginning of the year versus the S&P 500's gain of 9.6%.
What's Next for Boston Beer?While Boston Beer has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Boston Beer was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $4.48 on $553.87 million in revenues for the coming quarter and $9.51 on $1.94 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Beverages - Alcohol is currently in the bottom 11% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Molson Coors Brewing (TAP - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 6.
This beer maker is expected to post quarterly earnings of $1.52 per share in its upcoming report, which represents a year-over-year change of -25.9%. The consensus EPS estimate for the quarter has been revised 0.5% lower over the last 30 days to the current level.
Molson Coors Brewing's revenues are expected to be $3.11 billion, down 2.9% from the year-ago quarter.
Buy, Hold, or Wait: 3 Small-Cap Stocks Telling Different StoriesBoston Beer NYSE: SAM said second-quarter demand remained challenging as declines in Twisted Tea and Truly continued to weigh on volume, even as Sun Cruiser and Angry Orchard posted growth and gross margin improved.
On the company’s 2026 second-quarter earnings call, Founder, CEO and Chairman Jim Koch said the broader beer market improved modestly in the first half of the year but remained uneven. Boston Beer estimates the combined beer and “beyond beer” market declined 2% in volume in the first half, compared with a 4% decline for full-year 2025. Koch said the category was nearly flat in the first quarter, softened in the second quarter and saw May as “particularly challenging,” before improving in June on drinking occasions tied to the World Cup and America’s 250th anniversary celebrations.
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Tap Into Molson Coors Stock: A Top Beverage Value Play“We anticipate industry volume headwinds for the remainder of 2026 as consumers remain under pressure from the cumulative effects of inflation and a significant increase in gas prices,” Koch said.
Volume declines continue, but margins improve Chief Financial Officer Diego Reynoso said second-quarter depletions declined 6% from the prior year, while shipments decreased 4.5%. The declines were driven primarily by lower volume in Twisted Tea, Truly, Samuel Adams, Hard MTN DEW and Dogfish Head, partially offset by increases in Sun Cruiser and Angry Orchard.
Constellation Brands Stock Q1 2025: Crushing Anheuser-Busch?Revenue for the quarter fell 3.3%, reflecting lower volume, partially offset by price increases and favorable product mix. Reynoso said positive mix was driven by strong growth in Sun Cruiser.
Gross margin improved to 50.4%, up 60 basis points year over year. Reynoso attributed the improvement to brewery efficiencies, favorable product mix, procurement savings and price increases, partly offset by higher commodity, tariff and energy-related costs.
Advertising, promotional and selling expenses rose $26.2 million, or 16.4%, from the prior year. That included $17.5 million of increased local brand marketing and point-of-sale investments, along with an $8.6 million freight cost increase. General and administrative expenses rose $3.1 million, primarily from higher legal fees and salary and benefit costs.
Excluding litigation-related expenses, Boston Beer reported second-quarter non-GAAP earnings per share of $3.65. Reynoso said year-to-date pre-tax litigation expenses plus related fees totaled $198.1 million, tied to previously discussed supplier dispute litigation. He said the company intends to pursue available post-trial motions and appellate remedies and does not expect the matter to have a material impact on operating plans.
Sun Cruiser offsets some pressure from Twisted Tea Koch said Boston Beer’s portfolio continues to lag the pace of improvement in the broader category, with continued market share challenges in Twisted Tea and Truly. However, Sun Cruiser delivered triple-digit depletion growth in the quarter, and Angry Orchard continued to grow.
For hard tea, Koch said a key priority is improving share trends and growing volume through both Twisted Tea and Sun Cruiser. On a combined basis, Twisted Tea and Sun Cruiser volume was “very slightly positive” year to date through 29 weeks, while revenue was growing.
Twisted Tea remains dominant in malt-based hard tea, with more than 85% share and no single competitor above 5%, according to Koch. Still, the brand is under pressure from broader flavored malt beverage headwinds, reduced feature and display activity and competition from spirits-based hard teas. Koch said 12-packs remain the largest volume headwind, affected by lower display activity and consumer movement away from larger pack sizes.
Boston Beer is using advertising, partnerships, new pack sizes, expanded Twisted Tea Extreme distribution and targeted pricing adjustments to address the pressure. Koch said Twisted Tea Singles, Twisted Tea Light and Twisted Tea Extreme all gained share within the FMB category.
Sun Cruiser, meanwhile, has become a top-five spirits ready-to-drink brand and is among the fastest-growing brands by volume in combined measured on- and off-premise channels, Koch said. He described the brand as revenue- and margin-accretive, with strong distribution opportunities still ahead. In response to an analyst question, Koch said Sun Cruiser is much larger than syndicated data indicates because of its strength in on-premise and independent accounts.
Truly remains challenged, Angry Orchard grows Truly retained its No. 2 share position in hard seltzer, but Koch said volume and share trends remain challenged. Within the portfolio, high-ABV Truly Unruly and the Wild Berry flavor are outperforming other styles. Koch said soccer-related promotions and new brand creative improved marketplace presence, particularly displays, but consumer demand has not met expectations.
“We are adjusting the level and timing of our investments in Truly as we reassess the most effective approach to accelerating brand performance,” Koch said.
Angry Orchard grew for the fifth consecutive quarter, led by Angry Orchard Crisp and Crisp Imperial. Koch said Crisp Imperial volume rose more than 60% in the second quarter in measured off-premise channels.
Samuel Adams launched limited-edition retro packaging and “Drink Like It’s 1776” programming tied to America’s 250th anniversary. Koch said Boston Beer’s taprooms in Boston saw record summer sales as soccer fans visited during World Cup-related activity. Dogfish Head slightly lost share and declined after four quarters of growth, though the company is continuing to support its Grateful Dead Beer collaboration and Minute series IPAs.
Guidance maintained as ad spending plans are reduced Boston Beer maintained its full-year volume guidance for shipments and depletions to be down low single digits to down mid-single digits. Reynoso said depletions declined 5% year over year through the first 29 weeks, and current company trends would point to the lower end of the full-year range unless category and share trends improve.
The company raised the low end of its gross margin outlook and now expects full-year gross margin of 48.5% to 50%. Boston Beer continues to expect price increases of 1% to 2%, with additional benefit from mix. Its non-GAAP EPS guidance remains $8.50 to $10.50, with an expected non-GAAP effective tax rate of about 29% to 30%.
Boston Beer lowered its planned incremental advertising, promotional and selling expense range by $20 million. The company now expects those expenses, excluding freight changes, to be flat to up $20 million versus the prior year, compared with a previous expectation of up $20 million to $40 million. Koch said the reduction came from lower-performing advertising, primarily in Truly.
Reynoso said the company expects third-quarter shipments to decline low to mid-single digits, followed by modest shipment growth in the fourth quarter, partly reflecting prior-year comparisons related to supply chain improvements and automated replenishment changes.
Cash flow supports buybacks and investment Boston Beer ended the quarter with $266 million in cash and $150 million available under its credit line. Reynoso said those balances, along with projected operating cash flow, support operating investments, shareholder returns and potential litigation-related payments.
The company reduced its 2026 capital expenditure outlook to $60 million to $80 million from $70 million to $90 million, with investments focused on brewery capabilities, efficiencies and innovation support. Boston Beer repurchased $48.5 million of shares during the 26 weeks ended June 27 and another $5.6 million through July 17. As of July 18, it had approximately $174 million remaining under its $1.6 billion share repurchase authorization.
About Boston Beer (NYSE:SAM)The Boston Beer Company, Inc NYSE: SAM is a leading craft brewer headquartered in Boston, Massachusetts. Since its founding in 1984 by Jim Koch, the company has focused on producing high-quality, distinctive beers and beverages for retail, on-premise, and distribution partners across the United States. Its operations include brewing, packaging, marketing and distribution, supported by a network of wholly owned brewing facilities and strategic partnerships with regional breweries.
Boston Beer's flagship brand, Samuel Adams Boston Lager, helped establish the modern U.S.
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Shares of Union Pacific (UNP +4.02%) rallied on Thursday after the railroad operator raised its full-year profit growth forecast.
Image source: Getty Images.
Solid Q2 performance Union Pacific's operating revenue climbed 12% year over year to $6.9 billion in the second quarter. Excluding fuel surcharges, the railroad giant's freight revenue rose 4%, driven by volume gains and price increases.
Union Pacific's efficiency initiatives are also producing positive results. Trains are moving more quickly through its rail network. Freight car velocity increased 5% to 231 daily miles per car, while average terminal dwell decreased 7% to 19.7 hours. Fuel consumption rate also improved by 1% to 1.051 gallons per thousand gross ton-miles.
Still, higher fuel costs negatively impacted the company's operating ratio -- operating expenses as a percentage of revenue -- which came in at 59.7% compared to 59% in the year-ago quarter.
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All told, Union Pacific's adjusted net income jumped 12% to $2 billion. Its adjusted earnings per share, aided by stock buybacks, increased 13% to $3.41.
Raised outlook Union Pacific now expects high-single-digit earnings-per-share growth in 2026, up from a prior forecast of mid-single-digit growth.
During a conference call with analysts, CEO Jim Vena said the primarily Western U.S.-based rail network is progressing through the regulatory process for its proposed merger with Eastern U.S.-based Norfolk Southern (NSC +5.32%).
Vena believes the combination will lead to greater competition among freight transport providers, better overall service, and a stronger national supply chain.
"Now, versus almost one year ago when we first announced our plans to merge, we have even more conviction that our transaction is in the public interest and will deliver benefits for our stakeholders, especially our customers," Vena said. "The case for our transcontinental railroad is clear, and we're ready to go."
Comfort Systems (FIX - Free Report) came out with quarterly earnings of $12.53 per share, beating the Zacks Consensus Estimate of $10.38 per share. This compares to earnings of $6.53 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +20.71%. A quarter ago, it was expected that this heating, ventilation and air conditioning company would post earnings of $7.19 per share when it actually produced earnings of $10.51, delivering a surprise of +46.18%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Comfort Systems, which belongs to the Zacks Building Products - Air Conditioner and Heating industry, posted revenues of $3.27 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 10.96%. This compares to year-ago revenues of $2.17 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Comfort Systems shares have added about 91.9% since the beginning of the year versus the S&P 500's gain of 9.6%.
What's Next for Comfort Systems?While Comfort Systems has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Comfort Systems was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $10.79 on $2.98 billion in revenues for the coming quarter and $43.09 on $11.89 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products - Air Conditioner and Heating is currently in the top 20% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Carrier Global (CARR - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on July 28.
This company is expected to post quarterly earnings of $0.83 per share in its upcoming report, which represents a year-over-year change of -9.8%. The consensus EPS estimate for the quarter has been revised 0.4% lower over the last 30 days to the current level.
Carrier Global's revenues are expected to be $6.02 billion, down 1.5% from the year-ago quarter.
The Hartford Insurance Group (HIG - Free Report) reported $5.23 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 6.8%. EPS of $3.42 for the same period compares to $3.41 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $5.19 billion, representing a surprise of +0.75%. The company delivered an EPS surprise of +9.62%, with the consensus EPS estimate being $3.12.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how The Hartford Insurance Group performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Business Insurance- Underlying combined ratio: 89.3% compared to the 88.6% average estimate based on six analysts.Personal Insurance - Loss and loss adjustment expense ratio: 63.8% compared to the 70.5% average estimate based on six analysts.Personal Insurance - Underlying combined ratio: 86.3% versus 87.8% estimated by six analysts on average.Personal Insurance - Combined ratio: 90.1% compared to the 96.5% average estimate based on six analysts.Revenue- Earned Premium- Personal Insurance: $905 million versus the six-analyst average estimate of $914.38 million. The reported number represents a year-over-year change of -2.8%.Revenue- Property & Casualty- Net investment income: $645 million versus the six-analyst average estimate of $585.92 million. The reported number represents a year-over-year change of +22.6%.Employee Benefits- Total revenues: $1.91 billion versus $1.83 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +8.4% change.Employee Benefits- Net investment income: $137 million compared to the $134.52 million average estimate based on six analysts. The reported number represents a change of +16.1% year over year.Employee Benefits- Premiums and other considerations: $1.77 billion compared to the $1.69 billion average estimate based on six analysts.Business Insurance- Fee income: $12 million compared to the $11.22 million average estimate based on six analysts. The reported number represents a change of +9.1% year over year.Business Insurance- Earned premiums: $3.66 billion compared to the $3.67 billion average estimate based on six analysts. The reported number represents a change of +7% year over year.Revenue- Fee income- Personal Insurance: $7 million versus $8.17 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -12.5% change.View all Key Company Metrics for The Hartford Insurance Group here>>>
Shares of The Hartford Insurance Group have returned +6.4% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
First Interstate BancSystem (FIBK - Free Report) reported $265.3 million in revenue for the quarter ended June 2026, representing a year-over-year increase of 6.3%. EPS of $0.87 for the same period compares to $0.69 a year ago.
The reported revenue represents a surprise of +7.58% over the Zacks Consensus Estimate of $246.6 million. With the consensus EPS estimate being $0.64, the EPS surprise was +35.94%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how First Interstate BancSystem performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net FTE interest margin ratio: 3.5% versus the two-analyst average estimate of 3.5%.Efficiency Ratio: 59% compared to the 63.7% average estimate based on two analysts.Mortgage banking revenues: $1.5 million compared to the $1.57 million average estimate based on two analysts.Total noninterest Income: $61.7 million versus the two-analyst average estimate of $42.52 million.Net Interest Income: $202.2 million compared to the $203.43 million average estimate based on two analysts.View all Key Company Metrics for First Interstate BancSystem here>>>
Shares of First Interstate BancSystem have returned +1.4% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
4 Dividend Growth Stocks the Trade Tariffs Can’t TouchColumbia Banking System NASDAQ: COLB reported second-quarter earnings per share of $0.73 and operating earnings per share of $0.76, with management saying results reflected continued progress on balance sheet reshaping, expense discipline and shareholder capital returns.
Chairman, CEO and President Clint Stein said the quarter “once again” reflected the company’s core priorities: delivering consistent results, improving long-term profitability through balance sheet changes and returning excess capital to shareholders. He said Columbia continued to emphasize relationship-based growth while resisting pricing and structures it views as unattractive.
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“Columbia does not chase growth for the sake of growth,” Stein said. “We are seeing pricing and structures in the market that we believe are irrational, we will not meet them.”
Loan Balances Decline as Commercial Growth Offsets Some Runoff Co-President Chris Merrywell said new loan origination volume totaled $1.3 billion, in line with the prior quarter. Commercial loan production, including owner-occupied commercial real estate, rose 9% from the previous quarter and 49% from the year-ago quarter. That helped drive a 5% annualized increase in commercial loans.
However, total loans declined to $47.2 billion from $47.7 billion at March 31. Management attributed the decrease to elevated payoffs in non-owner-occupied commercial real estate and continued runoff in transactional loans.
CFO Ivan Seda said the transactional portfolio declined by roughly $270 million during the quarter, while C&I and owner-occupied commercial real estate grew by slightly more than $250 million. He said commercial loans, including owner-occupied commercial real estate, now represent 42% of the loan portfolio.
Co-President Tory Nixon said competition in commercial real estate lending has become “pretty choppy,” with some loans refinancing away from Columbia. He said the company is not changing its underwriting standards or cutting pricing to retain volume, though he added that the bank has seen growth in its real estate pipeline at structures and prices it considers acceptable.
Net Interest Margin Expected to Move Above 4% Columbia reported a second-quarter net interest margin of 3.93%. Seda said the figure included a three-basis-point headwind from one-time credit-related interest reversals. Adjusted for that item, he said margin was essentially flat with the prior quarter.
Seda also pointed to a lower-than-expected yield on investment securities, caused by higher interest rates affecting accounting adjustments tied to expected prepayment speeds on mortgage-backed and related securities. He said that was a four-basis-point headwind in the quarter.
Despite those factors, Seda said the company still expects net interest margin to move “up to and beyond” 4% in the third quarter on a quarterly average basis. He cited continued loan remixing, repricing opportunities and balance sheet optimization as drivers.
On deposits, Merrywell said seasonal tax-related outflows occurred early in the quarter, with balances stabilizing in May and June and beginning to expand seasonally in July. Deposit campaigns have generated new accounts with nearly $1.5 billion in deposits year to date through July, he said.
The company also maintained deposit pricing discipline. Merrywell said the spot cost of interest-bearing deposits declined four basis points from March 31 to 1.94% as of June 30. However, Seda and Merrywell both noted that competition for deposits has intensified, with some competitors again offering rates above 4%.
Fees Beat Guidance; Expenses Come in Below Outlook Non-interest income was $88 million on a GAAP basis and $91 million on an operating basis. Seda said the result was above the company’s guided range of $80 million to $85 million, even after adjusting for a unique $3 million bank-owned life insurance gain. Columbia expects non-interest revenue in the mid-$80 million range for the third quarter.
Management highlighted growth across treasury management, commercial cards, merchant services and wealth management. Nixon said treasury management revenue was up just under 9% year over year, while international banking, commercial card and merchant businesses were each up about 9.5%. He also said commercial card spend topped $100 million in June for the first time, up 14% year over year, and that the combined wealth business had a record-setting second quarter.
Operating non-interest expense was $366 million. Excluding intangible amortization of $38 million, the run rate was $328 million, below guidance. Seda attributed the lower expense level to Pacific Premier-related synergy outperformance, core expense management and timing of strategic reinvestment.
Stein said Columbia exceeded the cost-saving target it set when it announced the Pacific Premier acquisition and was materially below the merger-related deal cost estimate disclosed at the time of the transaction. Seda said the company exceeded its cost synergy target by $5 million. For the third quarter, Columbia expects non-interest expense excluding CDI amortization to be in the $330 million to $335 million range, with a similar range expected for the fourth quarter.
Credit Metrics Stable; Capital Returns Continue Provision expense was $27 million, reflecting loan runoff, credit migration trends and modest changes in economic forecasts used in credit models. Seda said credit metrics remained stable and healthy. The allowance for credit losses covered 1.01% of total loans at quarter-end, or 1.26% when incorporating the credit discount on acquired loans.
Chief Credit Officer Frank Namdar said agriculture remains the main area he is watching, though he noted signs of stabilization. He also said the company is monitoring smaller borrowers, including SBA and small business credits, but those portfolios are “still holding in pretty nicely.”
Columbia returned more than $300 million to shareholders during the quarter through dividends and share repurchases. Seda said the company repurchased 6.6 million common shares, returning approximately $200 million through its buyback program.
The company’s common equity tier 1 ratio was 11.6%, and its total risk-based capital ratio was 13.4% at quarter-end. Seda said Columbia had about $530 million of excess capital above its long-term target ratios as of June 30, with $200 million remaining under its current repurchase authorization. Tangible book value rose 1% during the quarter to $19.22.
Seda said share repurchases are expected to remain in the $150 million to $200 million range for the third quarter, and management plans to discuss future repurchase authorization plans on the next earnings call.
Management Rules Out Whole-Bank M&A During the question-and-answer session, Stein said Columbia has “zero interest” in whole-bank mergers and acquisitions. He said Pacific Premier was the “missing piece” to the franchise the company envisioned, and he emphasized that buying back Columbia’s own stock remains the best investment.
Stein said the company may consider a small bolt-on business at some point if it supports fee income or deposit generation, but said management is not interested in a transaction that would increase the share count.
“Now we’re having fun again,” Stein said. “Our people are having fun. We see the momentum that’s out there. We don’t want to disrupt that.”
About Columbia Banking System (NASDAQ:COLB)Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.
The company's offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Columbia Banking (COLB - Free Report) reported $677 million in revenue for the quarter ended June 2026, representing a year-over-year increase of 32.5%. EPS of $0.76 for the same period compares to $0.76 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $688.41 million, representing a surprise of -1.66%. The company delivered an EPS surprise of +4.11%, with the consensus EPS estimate being $0.73.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Columbia Banking performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net charge-offs to average loans and leases (annualized): 0.3% versus the three-analyst average estimate of 0.3%.Average Balance - Total interest-earning assets: $60.28 billion versus $60.69 billion estimated by three analysts on average.Efficiency Ratio: 55.2% versus the three-analyst average estimate of 52.8%.Net Interest Margin: 3.9% compared to the 4% average estimate based on three analysts.Total non-performing loans and leases: $268 million versus $267.74 million estimated by two analysts on average.Total non-performing assets: $273 million compared to the $270.77 million average estimate based on two analysts.Net Interest Income: $589 million compared to the $603.86 million average estimate based on three analysts.Total noninterest income: $88 million versus the three-analyst average estimate of $83.68 million.Service charges on deposits: $23 million versus the two-analyst average estimate of $20.35 million.Net interest income (FTE): $592 million versus the two-analyst average estimate of $605.01 million.Financial services and trust revenue: $15 million compared to the $15.11 million average estimate based on two analysts.View all Key Company Metrics for Columbia Banking here>>>
Shares of Columbia Banking have returned +3.5% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
For the quarter ended June 2026, Associated Banc-Corp (ASB - Free Report) reported revenue of $454.58 million, up 23.9% over the same period last year. EPS came in at $0.73, compared to $0.65 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $443.65 million, representing a surprise of +2.46%. The company delivered an EPS surprise of +1.39%, with the consensus EPS estimate being $0.72.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Associated Banc-Corp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net charge offs / average loans: 0.3% compared to the 0.1% average estimate based on two analysts.Nonaccrual loans: $149.95 million versus the two-analyst average estimate of $126.83 million.Net Interest Margin: 3.2% compared to the 3.1% average estimate based on two analysts.Average Balance - Total earning assets and related interest income: $47.29 billion versus the two-analyst average estimate of $46.57 billion.Total Noninterest Income: $80.4 million versus the two-analyst average estimate of $79.8 million.Other income: $2.71 million versus $4.64 million estimated by two analysts on average.Capital markets, net: $7.48 million versus $7.08 million estimated by two analysts on average.Service charges and deposit accounts fees: $15.86 million compared to the $15.44 million average estimate based on two analysts.Wealth management fees: $26.22 million versus $25.73 million estimated by two analysts on average.Other fee-based revenue: $5.76 million compared to the $5.19 million average estimate based on two analysts.Mortgage banking, net: $2.78 million versus $6.13 million estimated by two analysts on average.Card-based fees: $14.16 million versus the two-analyst average estimate of $12.22 million.View all Key Company Metrics for Associated Banc-Corp here>>>
Shares of Associated Banc-Corp have returned +0.9% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Associated Banc NYSE: ASB reported higher second-quarter earnings on an adjusted basis as the Green Bay, Wisconsin-based bank incorporated the acquisition of American National Corporation and continued to post organic growth in commercial lending and customer deposits.
Associated Banc-Corp (ASB - Free Report) came out with quarterly earnings of $0.73 per share, beating the Zacks Consensus Estimate of $0.72 per share. This compares to earnings of $0.65 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +1.39%. A quarter ago, it was expected that this bank holding company would post earnings of $0.69 per share when it actually produced earnings of $0.7, delivering a surprise of +1.45%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Associated Banc-Corp, which belongs to the Zacks Banks - Midwest industry, posted revenues of $454.58 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 2.46%. This compares to year-ago revenues of $366.98 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Associated Banc-Corp shares have added about 19.2% since the beginning of the year versus the S&P 500's gain of 9.6%.
What's Next for Associated Banc-Corp?While Associated Banc-Corp has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Associated Banc-Corp was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.75 on $454.64 million in revenues for the coming quarter and $2.91 on $1.74 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Midwest is currently in the top 34% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Eagle Bancorp Montana, Inc. (EBMT - Free Report) , is yet to report results for the quarter ended June 2026.
This company is expected to post quarterly earnings of $0.50 per share in its upcoming report, which represents a year-over-year change of +22%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Eagle Bancorp Montana, Inc.'s revenues are expected to be $23.5 million, up 2.4% from the year-ago quarter.
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Peabody Energy To Contact Him Directly To Discuss Their Options
If you purchased or acquired securities in Peabody Energy between October 14, 2024 and May 4, 2026 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
[You may also click here for additional information]
New York, New York--(Newsfile Corp. - July 23, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Peabody Energy Corporation ("Peabody Energy" or the "Company") (NYSE: BTU) and reminds investors of the August 24, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: Defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Peabody Energy's Centurion mine and the multitude of issues causing delays to the ramp-up and the return to full longwall production dates. Such statements absent these material facts caused Plaintiff and other shareholders to purchase Peabody Energy's securities at artificially inflated prices.
On March 30, 2026, Peabody Energy issued a press release lowering guidance pertaining to Centurion mine's expected first quarter 2026 output, announcing that sales volume from the Centurion mine was expected to deliver approximately 250,000 tons in the first quarter due to "greater-than-anticipated mine commissioning challenges" (compared to previous estimates of around 700,000 tons). On this news, Peabody Energy's stock price fell $3.82, or approximately 9.7%, to close at $35.68 per share on March 30, 2026.
On May 5, 2026, Peabody Energy issued a press release disclosing the Company's failure to ramp-up Centurion by the long-awaited March 2026 deadline and cutting guidance related to full year met segment volumes to reflect the increased cost and substantial volume decrease, reducing the full year sales outlook for Centurion to 2.5 million tons compared to the original expectation of 3.5 million tons. On this news, Peabody Energy's stock price fell $1.52, or 5.7%, to close at $25.00 per share on May 5, 2026.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Peabody Energy's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the Peabody Energy class action, go to www.faruqilaw.com/BTU or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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Frequently Asked Questions (FAQ) for Investors Regarding the Peabody Energy Securities Class Action Lawsuit:
What is the Peabody Energy securities fraud lawsuit about?
The lawsuit alleges that Peabody Energy Corporation (NYSE: BTU) and certain of its officers and directors made materially false and misleading statements and/or concealed material adverse facts concerning the true condition of the Company's Centurion mine, including the nature and severity of issues allegedly causing delays to its ramp-up and return to full longwall production. The complaint alleges that, throughout the Class Period, defendants provided investors with overwhelmingly positive statements about the Centurion mine while purportedly withholding information about the multitude of operational challenges affecting it. These allegedly false and misleading statements are said to have caused investors to purchase Peabody Energy securities at artificially inflated prices. The inflation in the stock price allegedly began to correct when Peabody Energy disclosed, on March 30, 2026, that first quarter 2026 output from the Centurion mine was expected to reach only approximately 250,000 tons — well below prior estimates of approximately 700,000 tons — due to "greater-than-anticipated mine commissioning challenges," and further when the Company disclosed on May 5, 2026 that it had failed to ramp up the mine by its March 2026 deadline and cut its full-year sales outlook for Centurion from 3.5 million tons to 2.5 million tons.
Who may be eligible to participate in the lawsuit?
Investors who purchased or otherwise acquired Peabody Energy Corporation (NYSE: BTU) securities on the NASDAQ between October 14, 2024 and May 4, 2026, inclusive, may be eligible to participate in this lawsuit as members of the proposed class. Eligibility to participate is not limited to investors who seek appointment as lead plaintiff; any qualifying class member may share in any recovery that may ultimately be obtained. Investors who purchased Peabody Energy securities during the Class Period and suffered losses are encouraged to review their transaction records to determine whether they fall within the defined class. Participation in a class action does not require that an investor take any individual legal action or incur separate legal fees to potentially benefit from any recovery achieved on behalf of the class.
What is a lead plaintiff, and how can I seek appointment?
A lead plaintiff is a court-appointed representative who acts on behalf of all class members in directing the litigation, including making key decisions regarding litigation strategy and the selection of lead counsel. Any class member who purchased Peabody Energy securities during the Class Period and suffered a loss may move the court for appointment as lead plaintiff, and courts typically appoint the movant with the largest financial interest in the outcome of the litigation who otherwise satisfies applicable legal requirements. The deadline to file a motion seeking appointment as lead plaintiff is August 24, 2026. Importantly, investors are not required to seek appointment as lead plaintiff in order to participate in the class and share in any recovery that may result from the litigation — class members who do not serve as lead plaintiff retain the ability to benefit from any settlement or judgment.
What should investors do if they purchased Peabody Energy stock during the Class Period?
Investors who purchased Peabody Energy Corporation (NYSE: BTU) securities between October 14, 2024 and May 4, 2026, inclusive, are encouraged to promptly review their brokerage records and account statements to confirm the dates and prices at which they acquired and, if applicable, sold their shares. Investors should take steps to preserve all relevant documentation, including transaction confirmations, account statements, and any communications relating to their Peabody Energy holdings, as such records may be relevant to establishing eligibility and calculating losses. Given that the lead plaintiff motion deadline is August 24, 2026, investors wishing to be considered for appointment as lead plaintiff should act well in advance of that date. Investors may wish to consult with Faruqi & Faruqi, LLP or other qualified securities counsel to evaluate their legal rights and options before the deadline.
Why should investors contact Faruqi & Faruqi, LLP?
Faruqi & Faruqi, LLP has represented investors in securities litigation for decades and has recovered hundreds of millions of dollars for shareholders. Investors who purchased Peabody Energy securities during the Class Period may contact the firm to discuss their legal rights, potential claims, and the lead plaintiff process at no cost or obligation.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306122
Source: Faruqi & Faruqi LLP
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For the quarter ended June 2026, Robert Half (RHI - Free Report) reported revenue of $1.34 billion, down 2.4% over the same period last year. EPS came in at $0.26, compared to $0.41 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.33 billion, representing a surprise of +0.78%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.26.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Robert Half performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Service Revenues- Permanent placement talent solutions: $117.99 million versus the three-analyst average estimate of $115.42 million. The reported number represents a year-over-year change of +2.9%.Service Revenues- Protiviti: $470.97 million versus the three-analyst average estimate of $469.51 million. The reported number represents a year-over-year change of -4.9%.Service Revenues- Total contract talent solutions: $747.41 million versus the three-analyst average estimate of $741.15 million. The reported number represents a year-over-year change of -1.6%.Service Revenues- Contract talent solutions- Technology: $162.2 million versus the two-analyst average estimate of $170.3 million. The reported number represents a year-over-year change of +2.4%.Service Revenues- Contract talent solutions- Finance & Accounting: $551.72 million versus $532.76 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -0.7% change.Service Revenues- Contract talent solutions- Administrative and customer support: $154.86 million versus $156.29 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -6.5% change.Service Revenues- Contract talent solutions- Elimination of intersegment: $-121.38 million compared to the $-120.12 million average estimate based on two analysts. The reported number represents a change of +1.3% year over year.View all Key Company Metrics for Robert Half here>>>
Shares of Robert Half have returned +35.3% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Robert Half Inc. (RHI) Q2 2026 Earnings Call July 23, 2026 5:00 PM EDT
Company Participants
M. Waddell - Vice Chairman, President & CEO
Michael Buckley - Executive VP & CFO
Conference Call Participants
Mark Marcon - Robert W. Baird & Co. Incorporated, Research Division
Trevor Romeo - William Blair & Company L.L.C., Research Division
Andrew Steinerman - JPMorgan Chase & Co, Research Division
Jeffrey Silber - BMO Capital Markets Equity Research
Keen Fai Tong - Goldman Sachs Group, Inc., Research Division
Kartik Mehta - Northcoast Research Partners, LLC
John Ronan Kennedy - Barclays Bank PLC, Research Division
Tobey Sommer - Truist Securities, Inc., Research Division
Kevin McVeigh - UBS Investment Bank, Research Division
Presentation
Operator
Hello, and welcome to the Robert Half Second Quarter 2026 Conference Call. Today's conference call is being recorded. [Operator Instructions] Our hosts for today's call are Mr. Keith Waddell, President and Chief Executive Officer of Robert Half; and Mr. Michael Buckley, Chief Financial Officer. Mr. Waddell, you may begin.
M. Waddell
Vice Chairman, President & CEO
Hello, everyone. We appreciate your time today. Before we get started, I'd like to remind you that comments made on today's call contain forward-looking statements, including predictions and estimates about our future performance. These statements represent our current judgment of what the future holds. However, they are subject to the risks and uncertainties that could cause actual results to differ materially from the forward-looking statements.
These risks and uncertainties are described in today's press release and our most recent 10-K and 10-Q filed with the SEC. We assume no obligation to update the statements made on today's call. During this presentation, we may refer to certain non-GAAP financial measures as adjusted. Adjusted revenue growth excludes the impact of billing day variations and foreign currency exchange rates.
Adjusted gross margin, SG&A and operating income reflect the combining
Robert Half NYSE: RHI reported second-quarter 2026 revenue and earnings above the midpoint of its guidance, as management pointed to improving hiring demand in its Talent Solutions business but continued pressure at consulting subsidiary Protiviti from changes in the U.S. financial services regulatory environment.
AppFolio (APPF - Free Report) reported $281.12 million in revenue for the quarter ended June 2026, representing a year-over-year increase of 19.3%. EPS of $1.71 for the same period compares to $1.38 a year ago.
The reported revenue represents a surprise of +1.5% over the Zacks Consensus Estimate of $276.98 million. With the consensus EPS estimate being $1.67, the EPS surprise was +2.4%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how AppFolio performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Units Under Management: 9.6 million versus 9.65 million estimated by two analysts on average.Revenue- Value Added Services: $219.47 million versus the two-analyst average estimate of $213.62 million. The reported number represents a year-over-year change of +21.8%.Revenue- Other: $1.86 million compared to the $2.62 million average estimate based on two analysts. The reported number represents a change of -37.2% year over year.View all Key Company Metrics for AppFolio here>>>
Shares of AppFolio have returned +9% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Rollins NYSE: ROL reported second-quarter 2026 results that management said fell short of expectations, as slower growth in parts of its residential pest control business offset stronger performance in commercial, termite and ancillary services.
Hilltop Holdings (HTH - Free Report) came out with quarterly earnings of $0.63 per share, beating the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $0.57 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +50.00%. A quarter ago, it was expected that this insurance holding compnay would post earnings of $0.5 per share when it actually produced earnings of $0.64, delivering a surprise of +28%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Hilltop Holdings, which belongs to the Zacks Banks - Southeast industry, posted revenues of $315.81 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 5.01%. This compares to year-ago revenues of $303.31 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Hilltop Holdings shares have added about 12.4% since the beginning of the year versus the S&P 500's gain of 9.6%.
What's Next for Hilltop Holdings?While Hilltop Holdings has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Hilltop Holdings was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.66 on $324.71 million in revenues for the coming quarter and $2.33 on $1.25 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Southeast is currently in the top 31% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the broader Zacks Finance sector, Hippo Holdings Inc. (HIPO - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on July 30.
This company is expected to post quarterly earnings of $0.20 per share in its upcoming report, which represents a year-over-year change of -69.2%. The consensus EPS estimate for the quarter has been revised 23.8% lower over the last 30 days to the current level.
Hippo Holdings Inc.'s revenues are expected to be $145.2 million, up 23.8% from the year-ago quarter.
For the quarter ended June 2026, Hilltop Holdings (HTH - Free Report) reported revenue of $315.81 million, up 4.1% over the same period last year. EPS came in at $0.63, compared to $0.57 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $300.75 million, representing a surprise of +5.01%. The company delivered an EPS surprise of +50%, with the consensus EPS estimate being $0.42.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Hilltop Holdings performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average Outstanding Balance - Interest-earning assets, gross: $14.47 billion versus $14.61 billion estimated by three analysts on average.Non-accrual loans: $54.8 million compared to the $59.65 million average estimate based on three analysts.Net Interest Margin: 3.2% versus 3.1% estimated by three analysts on average.Non-performing assets: $62.27 million compared to the $74.78 million average estimate based on three analysts.Efficiency Ratio: 55% compared to the 85.9% average estimate based on two analysts.Net Interest Income (FTE): $116.7 million versus $112.85 million estimated by three analysts on average.Net Interest Income: $115.85 million compared to the $112.06 million average estimate based on three analysts.Total Noninterest Income: $199.96 million versus the three-analyst average estimate of $188.64 million.Investment banking, advisory and administrative fees: $44.2 million compared to the $41.21 million average estimate based on two analysts.Mortgage loan origination fees: $30.29 million versus $22.93 million estimated by two analysts on average.Net gains from sale of loans and other mortgage production income: $48.58 million compared to the $48.86 million average estimate based on two analysts.Principal transactions, commissions and fees: $64.2 million versus the two-analyst average estimate of $59.15 million.View all Key Company Metrics for Hilltop Holdings here>>>
Shares of Hilltop Holdings have returned -2.7% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Palomar’s High-Risk Insurance Strategy Is Paying Off BigRLI NYSE: RLI reported another quarter of profitable underwriting and higher investment income, with management emphasizing disciplined growth, capital returns and selectivity in increasingly competitive specialty insurance markets.
President and Chief Executive Officer Craig Kliethermes said the company generated an 86 combined ratio, grew gross premiums written by 3%, increased net investment income by 17% and produced a 25% return on equity during the second quarter. He also noted that RLI returned capital to shareholders through both a special dividend and share repurchases.
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3 Recession-Resistant Stocks: Low Beta, High Margins, Low Debt“Markets change; our principles don’t,” Kliethermes said, pointing to underwriting discipline, relationships with producers and insureds, and capital management as key drivers of the company’s performance.
Operating Earnings Edge Higher as Investment Income Rises Chief Financial Officer Aaron Diefenthaler said RLI reported second-quarter operating earnings of $0.83 per share, compared with $0.82 per share in the prior-year period. On a GAAP basis, net earnings were $1.82 per share, up from $1.34 per share a year earlier.
Don't Overlook Hidden Gem Kinsale As Rallies To New HighsThe gap between operating and net earnings was largely driven by the company’s equity portfolio. Diefenthaler said RLI recognized $103 million of unrealized gains on equity securities in the quarter, compared with $44 million last year. Realized gains totaled $9 million, which he described as reflecting modest portfolio rebalancing.
Underwriting income was $59.9 million. The company’s combined ratio was 85.6, compared with 84.5 last year. The loss ratio improved by 0.4 percentage points to 45.5, while the expense ratio increased 1.5 points to 40.1 due to personnel-related costs, acquisition expenses and technology investments.
Results included $39.8 million of favorable development on prior-year loss reserves, compared with $27.6 million in the second quarter of 2025. The quarter also included $10 million of net incurred losses from 2026 catastrophe events.
Net investment income increased 17% to $46 million. Diefenthaler said operating cash flow of $145 million supported fixed-income purchases with yields averaging 4.9% during the quarter. Total investments and cash were approximately $4.9 billion at quarter-end.
Casualty Growth Led by Umbrella and Transportation Chief Operating Officer Jen Klobnak said casualty premium rose 11% in the quarter, with rates up 10%. Personal umbrella and transportation were the primary drivers.
Personal umbrella premium increased 26%, supported by a 17% rate increase. Klobnak said the rate increase was influenced by higher approved rate filings in California and Florida, though she expects rate increases in the second half of the year to moderate as some filings earn through the book. She said the company has also targeted growth in non-coastal states, which RLI views as more favorable from a litigation standpoint.
Transportation premium rose 19%, including an 8% rate increase. Klobnak said some accounts renewed at or near expiring pricing because of strong account performance and prior rate actions. She also said new claim counts continued to decline for the second consecutive year, contributing to management’s confidence and supporting a reserve release in the quarter.
Casualty brokerage premium declined 6% amid greater competition from other excess and surplus carriers, managing general agents and standard markets. Klobnak said producers and insureds are seeking broader coverage for less rate, while RLI is “picking our spots.”
The casualty segment posted a 99.3 combined ratio, helped by $13 million of favorable development on prior-year reserves. Diefenthaler said contributors to favorable development included excess liability, transportation, the Professional Services Group and Executive Products.
Property Premium Declines as Competition Increases RLI’s property segment produced a 56.8 combined ratio, benefiting from lighter catastrophe activity and favorable prior-year development. Property gross premium fell 6% as competitive dynamics persisted in the excess and surplus property market.
Klobnak said the market has become increasingly competitive, with some submissions being sent to more than 45 markets. She said standard markets are re-entering classes they exited during the recent hard market and offering broader terms for less premium.
Despite rate pressure, Klobnak said RLI’s underwriters are still achieving pricing near the company’s benchmark, which she said equates to its targeted risk-adjusted return. She said the company is holding the line on terms and conditions that will matter when claims are handled after losses occur. Renewal retention in property has declined to just under 70%.
Hawaii homeowners premium grew 9%, including a 12% rate increase. Marine premium increased 7%, including a 1% rate increase, in what Klobnak described as an increasingly competitive market.
Surety Premium Falls, but Underwriting Remains Profitable Surety premium declined 6% in the quarter. Klobnak attributed the decline primarily to moderating renewable energy construction activity, customs bonds that required larger limits last year, and RLI’s decision to exit some larger accounts where management no longer believed risk-adjusted returns justified the exposure.
The surety segment posted an 87.2 combined ratio, modestly better than last year and supported by $3.4 million of favorable development. Diefenthaler said the loss ratio improvement was partly offset by a three-point increase in the expense ratio due to infrastructure investments and higher acquisition expenses.
Klobnak said surety loss ratios are beginning to move higher across the industry, particularly in construction and some renewable energy projects, though she said RLI has not seen those losses in its own book. She said the company wants to keep its book “clean” so it can take advantage of opportunities if market disruption develops.
Capital Returns Include Special Dividend and Buybacks RLI paid a regular quarterly dividend of $0.18 per share and a $2.00 special dividend, returning just over $200 million to shareholders. The company also authorized a new $250 million share repurchase program.
Diefenthaler said RLI repurchased approximately 235,000 shares during the quarter at an average price of $51.25. About $238 million remained available under the authorization at June 30. He described buybacks as a complementary way to return capital, not necessarily a replacement for special dividends, and said there is no set timetable for using the remaining authorization.
Comprehensive earnings were $166 million, or $1.80 per share, compared with $143 million, or $1.55 per share, last year. Adjusting for dividends and share repurchases, book value per share increased 11% from year-end 2025.
Management also emphasized service and relationships as competitive advantages. Klobnak said RLI is using technology to improve efficiency but continues to prioritize direct engagement with producers and insureds. Kliethermes said the company’s culture is built around ownership and long-term value creation, adding that RLI will invest when it can generate attractive returns and return capital when it cannot.
About RLI (NYSE:RLI)RLI Corporation NYSE: RLI is a specialty property and casualty insurance company focused on underwriting niche risks for businesses and individuals. Headquartered in Peoria, Illinois, the company operates through a network of independent agents and brokers, offering customized coverage solutions. RLI's approach emphasizes disciplined underwriting, targeted product development and strong customer service to maintain profitability and long-term growth.
Founded in 1965 as Replacement Lens, Inc, RLI initially provided insurance for contact lens manufacturers before shifting its focus to specialty insurance in the 1980s.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Thursday will go down in history as a major day in the history of the businesses that comprise Comcast (CMCSA -6.80%). Not only did the entertainment company’s high-profile Peacock streaming service log its first profitable quarter (at least by one metric), it also announced plans to effectively split itself in two.
There was a lot to digest in Comcast’s Thursday developments. So let’s not waste any time and dive right into them.
Image source: Getty Images.
One business flew well higherThe Peacock news was tucked inside Comcast’s second-quarter results, which were published well before market open that day.
For the period, total revenue slid by a little over 1% year over year to $29.4 billion, while net income not under generally accepted accounting principles (non-GAAP, or adjusted), declined notably more steeply. It tumbled by 20% to $3.7 billion, or $1.04 per share.
Despite the decreases, Comcast’s key figures exceeded the average analyst estimates. The pundit consensus for revenue was under $29.3 billion, while that for adjusted net profit was $0.96 per share.
The larger of the company’s two primary reporting units, connectivity and platforms (essentially the broadband and cable infrastructure operations), saw its revenue dip by 3% to just under $19.8 billion. The division’s profitability also sank, with its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) withering by almost 6% to just under $8 billion.
Comcast attributed this to weakness in the residential segment, which was responsible for almost 87% of the unit’s revenue. The far smaller business segment saw a 3.7% rise, but this wasn’t enough to offset residential’s 4.3% slump.
Content and experiences, the business that will form the core and bulk of the NBCUniversal spinoff, was a movie with quite a different ending. It managed to crank its revenue 23% higher to $10.7 billion, while its adjusted EBITDA improved by 7% over the year-ago quarter to $1.3 billion.
Numerous pieces of Comcast content scored with audiences during the quarter. Millions of people were glued to their TVs or smart devices watching the FIFA World Cup and the high-profile reality show Love Island USA, for example. Also, ticket sales were brisk for silver screen offerings like The Super Mario Galaxy Movie and, especially, the low-budget sleeper horror hit Obsession.
Peacock deserves special mention here for that inaugural profitability milestone. Specifically, revenue and adjusted EBITDA “related” to the streaming service clocked in at $1.9 billion and $189 million, respectively. Those numbers were vast improvements over the $1.2 billion and $101 million of the second quarter of 2025.
Finally, Comcast’s eliminations of transactions within and between its business units totaled slightly over $1 billion during the period.
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Leaving the nestThe more important news item from Comcast is that it’s spinning off those growing media assets — plus the division’s theme parks and the U.K.-based media and telecom business Sky — to form the basis of NBCUniversal (Comcast will continue with most of the residential connectivity and platforms unit). Current Comcast shareholders will retain their Comcast stock and receive a tax-free distribution of NBCUniversal equity.
The exact number of shares hasn’t been made public yet. Comcast said it expects the spinoff to be completed in about one year.
Does any of this sound familiar? It should, because this isn’t Comcast’s first major business divestment in recent times. Early this year, it separated its legacy cable channels into a new standalone business, Versant Media Group (VSNT -1.74%).
In the press release trumpeting the coming spinoff, Comcast quoted co-CEO Mike Cavanagh as saying that the legacy company “will continue to build on its leadership in connectivity, while NBCUniversal, together with Sky, will have the scale, brands, content, and financial resources to compete as a premier global media and entertainment company.”
Cavanagh, incidentally, is to be the sole CEO of NBCUniversal. CFO Michael Angelakis will serve as CEO of the slimmed-down Comcast. He was formerly the company’s CFO.
A tale of 2 businessesWhat are we to make of all this? As with Versant, splitting Comcast’s business makes sense. Connectivity is a mature, relatively stable, cash-generating business, while media is a more volatile growth play. Having both under the same corporate structure risks failing to realize the full potential of either.
I think NBCUniversal, especially with Peacock’s impressive flight into profitability, will be an attractive stock straight out of the nest. After the split, legacy Comcast will likely pay most of the company’s present high-yield dividend (which pays out at 5.6%). So ideally, it’ll be a low-risk income stock.
There was much to like in Comcast’s second quarter, enough to consider holding on to both the new Comcast and NBCUniversal when the spinoff comes. I’m intrigued to see how the major upcoming development in the entertainment giant’s story unfolds.
On July 23, 2026, Bruker Corp (BRKR) shares rose 4.0% today, bringing the current price to $62.15. The stock has shown a strong performance over the last year,
In the latest trading session, Amkor Technology (AMKR - Free Report) closed at $65.33, marking a -2.45% move from the previous day. This move lagged the S&P 500's daily loss of 1.21%. Meanwhile, the Dow lost 0.97%, and the Nasdaq, a tech-heavy index, lost 2.15%.
The chip packaging and test services provider's stock has dropped by 19.08% in the past month, falling short of the Computer and Technology sector's loss of 4.58% and the S&P 500's gain of 0.42%.
Market participants will be closely following the financial results of Amkor Technology in its upcoming release. The company plans to announce its earnings on July 27, 2026. The company is expected to report EPS of $0.47, up 113.64% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.8 billion, up 19.31% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.08 per share and a revenue of $7.59 billion, representing changes of +38.67% and +13.16%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Amkor Technology. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Amkor Technology is carrying a Zacks Rank of #2 (Buy).
In the context of valuation, Amkor Technology is at present trading with a Forward P/E ratio of 32.15. Its industry sports an average Forward P/E of 45.65, so one might conclude that Amkor Technology is trading at a discount comparatively.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 55, this industry ranks in the top 23% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
In the latest close session, ATI (ATI - Free Report) was up +2.17% at $199.84. The stock's change was more than the S&P 500's daily loss of 1.21%. On the other hand, the Dow registered a loss of 0.97%, and the technology-centric Nasdaq decreased by 2.15%.
Heading into today, shares of the maker of steel and specialty metals had lost 1.01% over the past month, outpacing the Aerospace sector's loss of 3.53% and lagging the S&P 500's gain of 0.42%.
Market participants will be closely following the financial results of ATI in its upcoming release. The company plans to announce its earnings on August 6, 2026. In that report, analysts expect ATI to post earnings of $1.03 per share. This would mark year-over-year growth of 39.19%. Our most recent consensus estimate is calling for quarterly revenue of $1.22 billion, up 6.98% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.49 per share and a revenue of $4.97 billion, representing changes of +38.58% and +8.4%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for ATI. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 1.27% rise in the Zacks Consensus EPS estimate. Right now, ATI possesses a Zacks Rank of #2 (Buy).
Digging into valuation, ATI currently has a Forward P/E ratio of 43.58. This represents a premium compared to its industry average Forward P/E of 37.73.
It's also important to note that ATI currently trades at a PEG ratio of 1.56. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Aerospace - Defense Equipment was holding an average PEG ratio of 2.31 at yesterday's closing price.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. At present, this industry carries a Zacks Industry Rank of 72, placing it within the top 30% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz continues its investigation of GE HealthCare Technologies Inc. (“GE HealthCare” or the “Company”) (NASDAQ: GEHC) on behalf of investors concerning the Company's possible violations of federal securities laws.IF YOU ARE AN INVESTOR WHO LOST MONEY ON GE HEALTHCARE TECHNOLOGIES INC. (GEHC), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING A CLAIM TO RECOVER YOUR LOSS.What Is The Investigation About?On April 29, 2026, GE HealthCare repor.
In the latest close session, Diamondback Energy (FANG - Free Report) was up +1.22% at $205.49. The stock's performance was ahead of the S&P 500's daily loss of 1.21%. Elsewhere, the Dow saw a downswing of 0.97%, while the tech-heavy Nasdaq depreciated by 2.15%.
The stock of energy exploration and production company has risen by 10.65% in the past month, leading the Oils-Energy sector's gain of 5.23% and the S&P 500's gain of 0.42%.
The investment community will be paying close attention to the earnings performance of Diamondback Energy in its upcoming release. The company is slated to reveal its earnings on August 3, 2026. The company is expected to report EPS of $6.08, up 127.72% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $4.82 billion, indicating a 31.08% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $18.9 per share and revenue of $18.37 billion, which would represent changes of +41.36% and +22.23%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Diamondback Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 5.72% lower. As of now, Diamondback Energy holds a Zacks Rank of #3 (Hold).
In terms of valuation, Diamondback Energy is presently being traded at a Forward P/E ratio of 10.74. This signifies a premium in comparison to the average Forward P/E of 10.42 for its industry.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 208, putting it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
In the latest trading session, Samsara Inc. (IOT - Free Report) closed at $31.49, marking a -5.52% move from the previous day. The stock's change was less than the S&P 500's daily loss of 1.21%. Meanwhile, the Dow experienced a drop of 0.97%, and the technology-dominated Nasdaq saw a decrease of 2.15%.
The company's shares have seen an increase of 6.69% over the last month, surpassing the Computer and Technology sector's loss of 4.58% and the S&P 500's gain of 0.42%.
Investors will be eagerly watching for the performance of Samsara Inc. in its upcoming earnings disclosure. The company is expected to report EPS of $0.17, up 41.67% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $483.23 million, up 23.44% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.75 per share and revenue of $2.01 billion. These totals would mark changes of +33.93% and +24.23%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Samsara Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Samsara Inc. is currently a Zacks Rank #2 (Buy).
In the context of valuation, Samsara Inc. is at present trading with a Forward P/E ratio of 44.44. This valuation marks a premium compared to its industry average Forward P/E of 18.63.
It is also worth noting that IOT currently has a PEG ratio of 1.54. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Software industry had an average PEG ratio of 1.01 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
On July 23, 2026, The Toro Co (TTC) shares fell 3.5% to a current price of $91.58. This decline comes amidst a 52-week trading range of $67.64 to $105.19, refle
3 Analyst-Backed Stocks the Market Is Getting Totally WrongOld Republic International NYSE: ORI reported lower second-quarter operating earnings as weaker specialty insurance underwriting results offset a stronger performance in its title insurance segment, management said on the company’s earnings call.
President and CEO Craig Smiddy said consolidated pre-tax operating income was $238 million in the second quarter of 2026, down from $268 million in the prior-year period. The consolidated combined ratio was 95.3%, compared with 93.6% a year earlier. The company’s annualized operating return on beginning equity was 12.1%, while book value per share, including dividends, increased 7.2% during the first six months of the year.
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Chief Financial Officer Frank Sodaro said net operating income was $186 million, or $0.76 per share, compared with $209 million, or $0.83 per share, in the second quarter of 2025.
Specialty Insurance Results Weaken on Reserve Strengthening Old Republic’s specialty insurance segment produced $199 million of pre-tax operating income, down from $254 million a year earlier. Net premiums earned increased 2.3% from the second quarter of 2025, while net premiums written rose 1.6% after excluding what Smiddy described as “noise” related to an auto warranty business written in the company’s auto warranty operating company.
The specialty insurance combined ratio rose to 95.5% from 90.7% a year earlier. Smiddy said the segment’s loss ratio was 65.9%, including 0.3 percentage points of unfavorable prior-year loss reserve development. That compared with a 62.5% loss ratio in the prior-year quarter, which included 2.9 percentage points of favorable development.
Sodaro said the company’s runoff transactional risk business had “poor claims experience,” which led to $40 million of reserve strengthening in the quarter. He noted that Old Republic placed the business into runoff in 2024. Outside of that runoff business, Sodaro said property and commercial auto had significant favorable reserve development, workers’ compensation had favorable development that was “considerably lower” than the prior year, and general liability had a moderate level of unfavorable development.
Smiddy said the specialty insurance expense ratio was 29.6%, up from 28.2% a year earlier, with most of the increase tied to investments in new specialty operating companies, technology modernization, data analytics and artificial intelligence.
Commercial Auto Rates Rise, Workers’ Compensation Premiums Decline In commercial auto, net premiums written rose 3.6% in the quarter, and the loss ratio was 69.4%, about 1 percentage point better than a year earlier. Smiddy said the improvement reflected a higher level of favorable prior-year reserve development, partially offset by a more conservative current accident-year loss ratio.
Rate increases in commercial auto were in the high teens and were higher than in the first quarter, Smiddy said, adding that the increases were greater than current loss trends the company is observing. He also said commercial auto retention ratios improved as competitors began implementing higher rate increases in response to higher loss trends.
Workers’ compensation net premiums written fell 8.4% in the quarter. The loss ratio was 60.6%, compared with 48.5% in the second quarter of 2025, with most of the change tied to a larger amount of favorable prior-year reserve development in the year-ago quarter. Smiddy said Old Republic held workers’ compensation rates flat, severity loss trends remained consistent and frequency loss trends continued to decline.
Smiddy said the company is seeing “some top-line pressure stemming from generally a competitive marketplace” but remains focused on risk-adequate pricing. In response to an analyst question about property pricing, he said catastrophe-exposed property is not a large part of Old Republic’s portfolio and that total property rates were down about 7.5% for the company.
Title Insurance Revenue and Profitability Improve Old Republic’s title insurance segment reported premium and fee revenue of $773 million, up 11% from the second quarter of 2025, according to Carolyn Monroe, president and CEO of Old Republic National Title Insurance Group. Smiddy said title premiums and fees increased 10%, while the segment generated $56 million of pre-tax operating income, up from $24 million a year earlier.
Monroe said residential transactions improved after a slow seasonal start, while commercial activity remained strong. Premiums produced in direct title operations increased 6%, while agency-produced premiums rose 12% and represented 78% of revenue, up from 77% in the prior-year quarter.
Commercial premiums increased and accounted for 25% of premiums earned, compared with 23% a year earlier. Monroe said the company saw “a wide mix of transactions across many segments of the commercial sector.” Asked about data center and infrastructure projects, she said data centers are large transactions that generally involve multiple title companies, and that Old Republic is also seeing activity in industrial projects and hospitality.
The title segment’s combined ratio improved to 95.1% from 99% a year earlier. Monroe said the expense ratio improved by 4 percentage points to 92.1%, with about half of the improvement tied to a one-time litigation settlement expense in the second quarter of 2025. The rest reflected operational efficiency, expense management and higher transaction volumes, partly offset by higher agent commissions due to a greater mix of agency business.
Monroe said Old Republic remains focused on improving operational efficiency and expanding margins, including through its partnership with Qualia and the rollout of a new operating system. Implementation began earlier this year and is expected to continue through the end of next year.
Investment Income, Buybacks and ECM Acquisition Sodaro said net investment income increased just over 6% in the quarter, primarily due to a larger investment base from operating results and a debt issuance completed in May. The average rate on corporate bonds acquired during the quarter was 4.9%, compared with an average yield of about 4.2% on bonds rolling off. The bond portfolio’s book yield ended the quarter at 4.8%, slightly higher than at year-end.
Book value per share was $25.33 at quarter-end. During the quarter, Old Republic paid nearly $77 million in dividends and repurchased $61 million of shares, leaving about $640 million remaining under its current repurchase program.
Smiddy said the company continues to view share repurchases as a way to return capital to shareholders but will remain opportunistic and mindful of the impact on book value per share. He said Old Republic could also consider a special dividend near year-end if it believes it has excess capital.
Management also discussed the company’s acquisition of ECM. Sodaro said Old Republic expects to report a bargain purchase gain on the acquisition next quarter and expects ECM’s results to be accretive to earnings and book value this year. ECM reported direct premiums written of just under $220 million in 2025 and ended that year with estimated GAAP equity of $145 million.
Smiddy said ECM has the same combined ratio targets as Old Republic’s other companies, between 90% and 95% over time, and that ECM produced “very strong” combined ratios in the first two quarters of 2026. He said Old Republic has eliminated ECM’s external quota share effective July 1 and is working to include ECM in its corporate treaties.
In closing, Smiddy said the company feels good about its prospects for the third and fourth quarters, citing “very solid” fundamentals in specialty insurance and brighter prospects in title insurance.
About Old Republic International (NYSE:ORI)Old Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. It operates through three segments: General Insurance, Title Insurance, and Republic Financial Indemnity Group Run-off Business. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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MongoDB (MDB - Free Report) closed the most recent trading day at $299.14, moving -1.91% from the previous trading session. This move lagged the S&P 500's daily loss of 1.21%. Elsewhere, the Dow saw a downswing of 0.97%, while the tech-heavy Nasdaq depreciated by 2.15%.
The stock of database platform has risen by 0.84% in the past month, leading the Computer and Technology sector's loss of 4.58% and the S&P 500's gain of 0.42%.
Market participants will be closely following the financial results of MongoDB in its upcoming release. It is anticipated that the company will report an EPS of $1.6, marking a 60% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $733.61 million, indicating a 24.05% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.07 per share and a revenue of $2.94 billion, signifying shifts of +22.13% and +19.5%, respectively, from the last year.
Any recent changes to analyst estimates for MongoDB should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 12% lower within the past month. MongoDB currently has a Zacks Rank of #3 (Hold).
With respect to valuation, MongoDB is currently being traded at a Forward P/E ratio of 50.23. This indicates a premium in contrast to its industry's Forward P/E of 18.63.
Meanwhile, MDB's PEG ratio is currently 4.12. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Software was holding an average PEG ratio of 1.01 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 152, positioning it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
On July 23, 2026, Ryder System Inc (R) shares fell 3.1% today, trading at $267.91. The stock has experienced a 52-week range between $157.67 and $284.25, reflec
MILWAUKEE--(BUSINESS WIRE)--The Board of Directors of Sensient Technologies Corporation (NYSE: SXT) has declared a regular quarterly cash dividend on its common stock of $0.41 per share. The cash dividend will be paid on September 1, 2026, to shareholders of record on August 3, 2026. About Sensient Technologies Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors, and other specialty ingredients. Sensient uses advanced technologies and robust global.
Boyd Gaming (BYD - Free Report) reported $1.03 billion in revenue for the quarter ended June 2026, representing no change year over year. EPS of $1.93 for the same period compares to $1.87 a year ago.
The reported revenue represents a surprise of +0.58% over the Zacks Consensus Estimate of $1.03 billion. With the consensus EPS estimate being $1.86, the EPS surprise was +3.76%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Boyd performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues by Segment- Managed & Other: $41.3 million versus the three-analyst average estimate of $37.32 million. The reported number represents a year-over-year change of +13.1%.Revenues by Segment- Downtown Las Vegas: $52.11 million compared to the $54.35 million average estimate based on three analysts. The reported number represents a change of -5.7% year over year.Revenues by Segment- Midwest and South: $556.89 million versus the three-analyst average estimate of $551.72 million. The reported number represents a year-over-year change of +3.1%.Revenues by Segment- Las Vegas Locals: $225.9 million compared to the $223.67 million average estimate based on three analysts. The reported number represents a change of -1.4% year over year.Adjusted EBITDAR- Online: $10.59 million compared to the $7.93 million average estimate based on three analysts.Adjusted EBITDAR- Managed & Other: $30.69 million compared to the $27.96 million average estimate based on three analysts.Adjusted EBITDAR- Corporate expense: $-22.88 million versus the three-analyst average estimate of $-24.59 million.Adjusted EBITDAR- Downtown Las Vegas: $16.91 million compared to the $18.31 million average estimate based on three analysts.Adjusted EBITDAR- Midwest and South: $208.75 million compared to the $204.36 million average estimate based on three analysts.Adjusted EBITDAR- Las Vegas Locals: $106.42 million compared to the $106.18 million average estimate based on three analysts.View all Key Company Metrics for Boyd here>>>
Shares of Boyd have returned -0.3% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Selective Insurance (SIGI - Free Report) came out with quarterly earnings of $1.95 per share, beating the Zacks Consensus Estimate of $1.72 per share. This compares to earnings of $1.31 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +13.37%. A quarter ago, it was expected that this insurance holding company would post earnings of $1.73 per share when it actually produced earnings of $1.69, delivering a surprise of -2.31%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Selective Insurance, which belongs to the Zacks Insurance - Property and Casualty industry, posted revenues of $1.38 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.96%. This compares to year-ago revenues of $1.32 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Selective Insurance shares have added about 14.8% since the beginning of the year versus the S&P 500's gain of 9.6%.
What's Next for Selective Insurance?While Selective Insurance has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Selective Insurance was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.83 on $1.38 billion in revenues for the coming quarter and $7.84 on $5.5 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Insurance - Property and Casualty is currently in the bottom 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Hagerty, Inc. (HGTY - Free Report) , has yet to report results for the quarter ended June 2026.
This company is expected to post quarterly loss of $0.08 per share in its upcoming report, which represents a year-over-year change of -161.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Hagerty, Inc.'s revenues are expected to be $321.01 million, down 12.9% from the year-ago quarter.
Selective Insurance (SIGI - Free Report) reported $1.38 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 4%. EPS of $1.95 for the same period compares to $1.31 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.36 billion, representing a surprise of +0.96%. The company delivered an EPS surprise of +13.37%, with the consensus EPS estimate being $1.72.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Selective Insurance performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Combined ratio: 98% versus 99.7% estimated by five analysts on average.Loss and loss expense ratio: 67.2% versus 68.9% estimated by five analysts on average.Underwriting expense ratio: 30.8% compared to the 30.8% average estimate based on five analysts.Standard Commercial Lines - Combined Ratio: 99.3% versus the three-analyst average estimate of 100.3%.Standard Personal Lines - Combined Ratio: 95.5% versus 104.1% estimated by three analysts on average.Excess and Surplus Lines - Combined Ratio: 91.8% compared to the 91% average estimate based on three analysts.Revenues- Net premiums earned: $1.22 billion versus the five-analyst average estimate of $1.21 billion. The reported number represents a year-over-year change of +2.3%.Revenues- Other income: $9.4 million compared to the $7.05 million average estimate based on five analysts. The reported number represents a change of +44.6% year over year.Revenues- Net investment income earned: $150.2 million compared to the $146.03 million average estimate based on five analysts. The reported number represents a change of +17.3% year over year.Revenues- Excess and Surplus Lines- Net Premiums Earned: $155.8 million versus the four-analyst average estimate of $158.8 million. The reported number represents a year-over-year change of +5.3%.Revenues- Standard Commercial Lines- Net Premiums Earned: $962 million versus the four-analyst average estimate of $953.02 million. The reported number represents a year-over-year change of +2.6%.Revenues- Standard Personal Lines- Net Premiums Earned: $97.6 million compared to the $98.23 million average estimate based on four analysts. The reported number represents a change of -4.7% year over year.View all Key Company Metrics for Selective Insurance here>>>
Shares of Selective Insurance have returned +0.7% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
3 Dividend Leaders Set for Strong Growth in 2025Packaging Corporation of America NYSE: PKG reported lower adjusted earnings for the second quarter of 2026 compared with the prior year, even as sales and EBITDA increased, with management citing strong corrugated demand, higher freight costs and contributions from the recently acquired Greif containerboard business.
Chairman and Chief Executive Officer Mark Kowlzan said the company reported second-quarter net income of $192 million, or $2.15 per share. Excluding special items, net income was $210 million, or $2.35 per share, compared with $224 million, or $2.48 per share, in the second quarter of 2025. Net sales rose to $2.5 billion from $2.2 billion a year earlier, while total company EBITDA excluding special items increased to $486 million from $451 million.
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Packaging Corporation of America: Buy The DipKowlzan said special items totaled $0.20 per share and were primarily related to facility closure costs and write-offs, Wallula Mill restructuring charges, and expenses tied to the acquisition and integration of the Greif containerboard business.
Excluding special items, earnings declined by $0.13 per share from the year-ago quarter. Kowlzan said legacy business earnings were down $0.27 per share, partly offset by $0.14 per share of earnings from the acquired Greif business. The legacy decline was driven by several cost pressures, including higher freight, corporate and other expenses, lower price and mix in packaging, higher labor and operating costs, and higher fiber costs. Those headwinds were partly offset by higher production and sales volumes in packaging and paper, lower maintenance outage expense, and improved paper pricing and mix.
Packaging Corporation of America: A Total Package to Buy and Hold“We exceeded our guidance of $2.33 on the strength of our corrugated volumes, which helped drive cost favorability in areas that we could control and offset higher than forecast costs for freight, recycled fiber, and employee benefits,” Kowlzan said. He added that Greif’s earnings contribution also exceeded expectations.
Packaging Demand Remains Strong In the packaging segment, EBITDA excluding special items was $489 million on sales of $2.3 billion, resulting in a margin of 21.1%. That compared with EBITDA of $453 million on sales of $2 billion, or a 22.6% margin, in the second quarter of 2025.
The company produced 1.415 million tons of containerboard during the quarter. Legacy mills produced 1.209 million tons, roughly even with the first quarter and 14,000 tons above the prior-year period. Acquired mills produced 206,000 tons, which Kowlzan said significantly exceeded their production in any quarter since the acquisition.
President Thomas Hassfurther said corrugated operations “turned in yet another very strong quarter.” Shipments were up more than 24% in total and per day versus last year, with the legacy business up 4.1% and achieving an all-time record for total quarterly shipments. Hassfurther said demand was very strong across the company’s customer base, with particular strength in e-commerce related to Amazon Prime Day and related customers.
Hassfurther said domestic containerboard and corrugated products prices and mix were $0.11 per share below the second quarter of 2025 but $0.04 per share above the first quarter of 2026. He said the company began realizing the first announced price increase in June, expects most of that increase to roll in during July, and expects the second increase to begin in August with realization split between the third and fourth quarters.
The company reduced export containerboard sales during the quarter to build inventory for its corrugated plants. Export volume was 30,000 tons below the first quarter and 22,000 tons below the second quarter of 2025. Hassfurther said the company was able to meaningfully increase inventories in early July and described the current market environment in one word during the question-and-answer session: “tight.”
Greif Integration Exceeds Expectations Management said the acquired Greif business contributed $0.14 per share to earnings in the quarter, above expectations. Chief Financial Officer Kent Pflederer said $0.04 of that contribution came from a depreciation benefit tied to measurement-period adjustments to the valuation of fixed assets on the opening balance sheet. Excluding that benefit, Pflederer said the outperformance was driven largely by higher volumes and strong operational performance.
Hassfurther said PCA now views the acquired business as fully integrated and is operating it as one unit with the legacy business. Pflederer said the transition services agreement with Greif will run through the end of the year as the company brings remaining corrugated plants and one mill-related system onto PCA systems. He said three more plants are expected to transition in the third quarter and the final facilities in the fourth quarter.
Pflederer said PCA is on track, and possibly ahead, on Greif-related synergies. He cited mill production improvements and better reliability, as well as integration benefits that are beginning to show in the numbers. He said the company is “probably” on track to exceed a $30 million run rate by year-end.
Paper Segment Posts Higher Margins The paper segment reported EBITDA excluding special items of $39 million on sales of $157 million, for a 24.9% margin. That compared with EBITDA of $30 million on sales of $146 million, or a 20.8% margin, in the second quarter of 2025.
Kowlzan said paper sales volume was about 3% below the first quarter but about 6% above the second quarter of 2025. Prices and mix were up 2% from both the first quarter of 2026 and the prior-year quarter. He said the company continues to implement previously announced paper price increases and expects to benefit in the third quarter.
Costs, Outages and Capital Spending in Focus Pflederer said cash provided by operations was $376 million, and free cash flow was $170 million after $206 million of capital expenditures. Other cash uses included dividend payments of $111 million, cash tax payments of $78 million and net interest payments of $54 million. PCA did not repurchase shares during the quarter.
The company continues to forecast 2026 capital expenditures of $840 million to $870 million and depreciation, depletion and amortization of about $710 million, excluding special items. Pflederer said outage expense was $0.34 per share in the second quarter and is now estimated at $0.30 in the third quarter and $0.63 in the fourth quarter, for a full-year total of $1.41 per share.
Kowlzan said operational performance in the quarter was mixed because of production interruptions from utility power outages across the mill system. In response to a question, Pflederer said the outages likely affected production by about 10,000 tons. Kowlzan said the disruptions reinforced the need for gas turbine projects at three key facilities, which he said should reduce or eliminate reliance on the grid at those mills.
Kowlzan said a gas turbine project at the Jackson Mill is in construction and is targeted to come online next year in coordination with Jackson’s annual outage. Projects at Riverville, Virginia, and DeRidder, Louisiana, are moving through environmental permitting, with Kowlzan indicating those units could come online in the first to middle part of 2028.
Third-Quarter Guidance Calls for Higher Earnings Looking ahead, Kowlzan said PCA expects continued strong packaging demand, increased corrugated products volume due to one additional shipping day, and higher containerboard and corrugated prices as price increases are implemented. He also said the company expects one more day of mill operation, lower production impact from packaging maintenance outages and better operating performance across its containerboard mill system.
In paper, PCA expects lower volume and higher prices due to maintenance at International Falls and continued price increase implementation. Freight costs are expected to remain around the elevated levels seen in May and June, while recycled fiber prices are continuing to rise. The company also expects higher chemical and purchased electricity prices, with wood fiber and natural gas relatively flat.
PCA guided for third-quarter earnings of $2.91 per share, excluding special items.
About Packaging Corporation of America (NYSE:PKG)Packaging Corporation of America NYSE: PKG is a leading North American manufacturer of containerboard and corrugated packaging products. The company produces a range of paper-based packaging solutions including linerboard, corrugating medium, corrugated shipping containers, retail-ready packaging and point-of-purchase displays. In addition to core packaging products, Packaging Corporation of America offers packaging design, testing and supply-chain services intended to optimize protection, cost and sustainability for customers.
Headquartered in Lake Forest, Illinois, the company operates an integrated network of mills and corrugated manufacturing facilities across the United States and serves customers throughout North America in industries such as e-commerce, grocery and food & beverage, consumer packaged goods and industrial markets.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
Should You Invest $1,000 in Packaging Corporation of America Right Now?Before you consider Packaging Corporation of America, you'll want to hear this.
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Tenet Healthcare (THC - Free Report) came out with quarterly earnings of $6.12 per share, beating the Zacks Consensus Estimate of $4.08 per share. This compares to earnings of $4.02 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +50.00%. A quarter ago, it was expected that this hospital operator would post earnings of $4.21 per share when it actually produced earnings of $4.82, delivering a surprise of +14.49%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Tenet, which belongs to the Zacks Medical - Hospital industry, posted revenues of $5.63 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 4.40%. This compares to year-ago revenues of $5.27 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Tenet shares have lost about 1.7% since the beginning of the year versus the S&P 500's gain of 9.6%.
What's Next for Tenet?While Tenet has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Tenet was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $4.22 on $5.47 billion in revenues for the coming quarter and $17.50 on $22.01 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Hospital is currently in the bottom 10% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Acadia Healthcare (ACHC - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on July 28.
This provider of inpatient behavioral health care services is expected to post quarterly earnings of $0.33 per share in its upcoming report, which represents a year-over-year change of -60.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Acadia Healthcare's revenues are expected to be $844.75 million, down 2.8% from the year-ago quarter.
Tenet Healthcare (THC - Free Report) reported $5.63 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 6.8%. EPS of $6.12 for the same period compares to $4.02 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $5.39 billion, representing a surprise of +4.4%. The company delivered an EPS surprise of +50%, with the consensus EPS estimate being $4.08.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Tenet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net patient service revenue per adjusted patient admission: $16,807.00 versus $17,985.64 estimated by two analysts on average.Net patient service revenue per adjusted patient admission - Same Hospital: $16,813.00 compared to the $16,562.51 average estimate based on two analysts.Adjusted patient admissions - Same-hospital: 216.97 thousand versus the two-analyst average estimate of 210.93 thousand.Adjusted admissions: 218.25 thousand versus 206.83 thousand estimated by two analysts on average.Net Operating revenues: $5.63 billion versus the four-analyst average estimate of $5.38 billion. The reported number represents a year-over-year change of +6.8%.Net Operating revenues- Ambulatory Care: $1.39 billion compared to the $1.38 billion average estimate based on four analysts. The reported number represents a change of +9.3% year over year.Net Operating revenues- Hospital Operations and Services: $4.24 billion versus $4 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +6% change.Adjusted EBITDA- Hospital Operations and Services: $762 million versus the three-analyst average estimate of $605.47 million.Equity in earnings of unconsolidated affiliates- Ambulatory Care: $64 million versus the three-analyst average estimate of $63.75 million.Adjusted EBITDA- Ambulatory Care: $542 million versus the three-analyst average estimate of $523.47 million.View all Key Company Metrics for Tenet here>>>
Shares of Tenet have returned +6.8% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Eaton (ETN - Free Report) closed at $415.13 in the latest trading session, marking a +2.02% move from the prior day. The stock's change was more than the S&P 500's daily loss of 1.21%. Meanwhile, the Dow lost 0.97%, and the Nasdaq, a tech-heavy index, lost 2.15%.
Shares of the power management company have appreciated by 0.57% over the course of the past month, outperforming the Industrial Products sector's loss of 4.11%, and the S&P 500's gain of 0.42%.
Market participants will be closely following the financial results of Eaton in its upcoming release. The company plans to announce its earnings on July 31, 2026. It is anticipated that the company will report an EPS of $3.08, marking a 4.41% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $8 billion, indicating a 13.9% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $13.35 per share and revenue of $31.82 billion, indicating changes of +10.6% and +15.94%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Eaton. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.16% higher. Currently, Eaton is carrying a Zacks Rank of #2 (Buy).
In terms of valuation, Eaton is presently being traded at a Forward P/E ratio of 30.49. This represents a premium compared to its industry average Forward P/E of 22.84.
Investors should also note that ETN has a PEG ratio of 2.61 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Manufacturing - Electronics was holding an average PEG ratio of 1.61 at yesterday's closing price.
The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 95, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
In the latest trading session, Trane Technologies (TT - Free Report) closed at $479.71, marking a +1.29% move from the previous day. The stock exceeded the S&P 500, which registered a loss of 1.21% for the day. Elsewhere, the Dow saw a downswing of 0.97%, while the tech-heavy Nasdaq depreciated by 2.15%.
The manufacturer's stock has dropped by 1.98% in the past month, falling short of the Business Services sector's gain of 3.63% and the S&P 500's gain of 0.42%.
Market participants will be closely following the financial results of Trane Technologies in its upcoming release. The company plans to announce its earnings on July 30, 2026. The company is forecasted to report an EPS of $4.27, showcasing a 10.05% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.18 billion, up 7.49% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $14.89 per share and revenue of $23.24 billion, indicating changes of +14.01% and +8.98%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Trane Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.11% higher. Right now, Trane Technologies possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Trane Technologies currently has a Forward P/E ratio of 31.81. Its industry sports an average Forward P/E of 16.57, so one might conclude that Trane Technologies is trading at a premium comparatively.
Meanwhile, TT's PEG ratio is currently 2.18. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Technology Services industry currently had an average PEG ratio of 1.44 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
AtriCure (ATRC - Free Report) came out with quarterly earnings of $0.18 per share, beating the Zacks Consensus Estimate of $0.03 per share. This compares to a loss of $0.02 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +500.00%. A quarter ago, it was expected that this medical device maker would post a loss of $0.07 per share when it actually produced break-even earnings, delivering a surprise of +100%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
AtriCure, which belongs to the Zacks Medical - Products industry, posted revenues of $153.6 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.39%. This compares to year-ago revenues of $136.14 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
AtriCure shares have lost about 15.3% since the beginning of the year versus the S&P 500's gain of 9.6%.
What's Next for AtriCure?While AtriCure has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for AtriCure was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.03 on $150.98 million in revenues for the coming quarter and $0.13 on $604.74 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Products is currently in the bottom 32% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Village Farms (VFF - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 10.
This greenhouse operator is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of -80%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Village Farms' revenues are expected to be $56.13 million, down 6.3% from the year-ago quarter.
AtriCure (ATRC - Free Report) reported $153.6 million in revenue for the quarter ended June 2026, representing a year-over-year increase of 12.8%. EPS of $0.18 for the same period compares to -$0.02 a year ago.
The reported revenue represents a surprise of +1.39% over the Zacks Consensus Estimate of $151.5 million. With the consensus EPS estimate being $0.03, the EPS surprise was +500%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how AtriCure performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
United States Revenue- Pain management: $27.06 million versus the three-analyst average estimate of $24.91 million. The reported number represents a year-over-year change of +27.8%.International Revenue- Pain management: $2.38 million versus $2.56 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +17.1% change.United States Revenue- Total ablation ( Open ablation+Minimally invasive ablation+Pain management): $73.97 million compared to the $71.95 million average estimate based on three analysts. The reported number represents a change of +13% year over year.International Revenue- Total ablation ( Open ablation+Minimally invasive ablation+Pain management): $15.64 million versus $16.12 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +6% change.United States Revenue- Total: $125.59 million versus the three-analyst average estimate of $122.88 million. The reported number represents a year-over-year change of +13.6%.International Revenue- Appendage management: $12.37 million compared to the $12.57 million average estimate based on three analysts. The reported number represents a change of +14.5% year over year.United States Revenue- Open ablation: $40.89 million compared to the $40.9 million average estimate based on three analysts. The reported number represents a change of +12.1% year over year.International Revenue- Open ablation: $11.24 million compared to the $11.39 million average estimate based on three analysts. The reported number represents a change of +8.6% year over year.United States Revenue- Minimally invasive ablation: $6.03 million versus $6.14 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -23.1% change.International Revenue- Minimally invasive ablation: $2.02 million versus $2.17 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -14.8% change.United States Revenue- Appendage management: $51.61 million versus $50.93 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +14.4% change.International Revenue- Total: $28.02 million versus the three-analyst average estimate of $28.7 million. The reported number represents a year-over-year change of +9.6%.View all Key Company Metrics for AtriCure here>>>
Shares of AtriCure have returned +18.5% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Edwards Lifesciences (EW - Free Report) reported $1.74 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 13.6%. EPS of $0.78 for the same period compares to $0.67 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.7 billion, representing a surprise of +2.45%. The company delivered an EPS surprise of +6.85%, with the consensus EPS estimate being $0.73.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Edwards Lifesciences performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales by Product Group- Transcatheter Mitral and Tricuspid Therapies: $198.6 million versus the four-analyst average estimate of $187.63 million. The reported number represents a year-over-year change of +47.7%.Net Sales by Product Group- Surgical Structural Heart: $284.1 million compared to the $277.73 million average estimate based on four analysts. The reported number represents a change of +6.5% year over year.Net Sales by Product Group- Transcatheter Aortic Valve Replacement: $1.26 billion versus the four-analyst average estimate of $1.23 billion. The reported number represents a year-over-year change of +11.3%.View all Key Company Metrics for Edwards Lifesciences here>>>
Shares of Edwards Lifesciences have returned -5.9% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
A Closer Look at Healthcare Sector Earnings: AZN vs. EW vs. ZBHEdwards Lifesciences NYSE: EW reported stronger-than-expected second-quarter 2026 results, with management pointing to broad growth across transcatheter aortic valve replacement, transcatheter mitral and tricuspid therapies, and surgical products.
Chief Executive Officer Bernard Zovighian said the company delivered second-quarter sales growth of 12.5%, supported by “multiple therapies across TAVR, mitral, tricuspid, and surgical,” as well as contributions from each region. Total sales were $1.74 billion, and adjusted earnings per share were $0.78, according to Chief Financial Officer Doretta Mistras.
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Beyond Biotech—3 Healthcare Stocks for Growth-Minded InvestorsBased on the quarter’s performance, Edwards raised its full-year 2026 sales growth outlook for the total company, TAVR and TMTT while reaffirming its adjusted EPS guidance. The company now expects total company sales growth of 10% to 11%, up from 9% to 11%. It expects total company sales of $6.6 billion to $6.9 billion at current exchange rates. Adjusted EPS guidance remains $2.95 to $3.05.
TAVR Sales Beat Expectations Edwards reported global TAVR sales of $1.3 billion in the second quarter, up 10.5% from the prior year. Zovighian said the performance was stronger than expected and benefited from sustained clinical momentum, data supporting more proactive management of severe aortic stenosis, and continued adoption of the company’s SAPIEN platform.
3 Healthcare Pathbreakers With Long-Term TailwindsHe said TAVR growth rates were similar in the U.S. and outside the U.S. Average selling prices were stable globally. Growth also benefited from the exit of a competitor in the second quarter of 2025 and long-term durability data for SAPIEN, according to management.
Edwards raised its full-year TAVR sales growth guidance to 8% to 9%, from 7% to 9%. The company now expects TAVR sales of $4.75 billion to $5 billion at current exchange rates.
Zovighian said recent clinical presentations at the New York Valves Conference included a seven-year subanalysis supporting SAPIEN valve performance and durability, as well as a five-year analysis from the EARLY TAVR trial that added to evidence for treating aortic stenosis earlier in the disease pathway. He also said the first patients have been treated with the updated SAPIEN X4-S platform.
TMTT Growth Driven by Multiple Products Edwards’ transcatheter mitral and tricuspid therapies generated second-quarter sales of $195.9 million, up 44.8% year over year. Zovighian said PASCAL, EVOQUE and SAPIEN M3 all exceeded expectations in the quarter.
The company raised its full-year TMTT sales guidance to $760 million to $780 million, from $740 million to $780 million. Zovighian said the portfolio supports Edwards’ target of reaching $2 billion in TMTT revenue in 2030.
Management said PASCAL adoption continues to increase, citing physician interest in its design and clinical outcomes. Edwards expects next-generation PASCAL technology with Capture Clarity for mitral and tricuspid patients in the U.S. and Europe to be approved in the fourth quarter. The company also expects results from the Class II TR trial to be presented at TCT and plans a U.S. launch of PASCAL for tricuspid patients in the fourth quarter.
EVOQUE continues to scale in the U.S. and Europe, with Edwards expanding into new centers, increasing utilization at existing centers and working to streamline patient screening. Daveen Chopra, corporate vice president with responsibility for TMTT, surgical and IHFM, said EVOQUE is the second-largest TMTT platform by revenue after PASCAL and is “growing very quickly.”
For SAPIEN M3, Zovighian said early experience has validated the need for mitral replacement options for patients not well suited for mitral repair or surgery. Edwards received CE Mark for SAPIEN M3 RESILIA and broadened its indication for SAPIEN M3 and SAPIEN M3 RESILIA to include patients with mitral annular calcification.
Surgical Sales Rise 5% In surgical products, second-quarter global sales were $284 million, up 5% from the prior year. Zovighian said growth was driven by continued adoption of RESILIA-based therapies, including INSPIRIS, MITRIS and KONECT.
He also highlighted 10-year data from the COMMENCE trial presented at the AATS conference, saying the results showed favorable freedom from structural valve deterioration and a low rate of reoperation related to structural valve deterioration. Edwards also received U.S. approval for ECLIPTIS, its surgical left atrial appendage technology, and plans a measured rollout later this year.
The company continues to expect mid-single-digit sales growth in surgical in 2026.
Margins, Tax Rate and Third-Quarter Outlook Mistras said adjusted gross profit margin was 77.6% in the second quarter, flat from a year earlier, as foreign exchange headwinds were offset by lower manufacturing expenses. Foreign exchange reduced gross margin by 70 basis points compared with the prior year. The company now expects gross margin to be at the lower end of its full-year 78% to 79% guidance.
Second-quarter SG&A expense was $561 million, or 32% of sales, compared with $502 million a year earlier. R&D expense was $279 million, or 16% of sales, compared with $276 million, or 18% of sales, in the prior-year period. Edwards continues to expect R&D to be approximately 17% of sales in 2026.
Adjusted operating margin was 30% in the second quarter. Mistras said Edwards continues to expect full-year operating margin at the high end of its original 28% to 29% guidance, representing approximately 150 basis points of constant-currency operating margin expansion.
The company now expects its 2026 effective tax rate, excluding special items, to be at the high end of its prior 16% to 19% range, due to Pillar Two tax impacts and changes to California law limiting the use of R&D credits. GAAP EPS for the quarter was $0.42, primarily affected by the California R&D tax credit impact.
For the third quarter, Edwards projected sales of $1.63 billion to $1.71 billion and adjusted EPS of $0.71 to $0.77. Mistras said underlying growth in the third quarter will be “artificially lower” than first-half performance because the company faces a higher comparison from 2025, when seasonality had an unusually low impact.
Management Discusses NCD, PROGRESS Trial and Long-Term Growth During the question-and-answer session, analysts asked about TAVR growth drivers, the pending U.S. national coverage determination for TAVR, and the PROGRESS trial in moderate aortic stenosis.
Dan Lippis, Edwards’ global leader of TAVR, said the company is encouraged by the draft CMS policy and expects a final policy memo in September. He said potential benefits include a pathway for coverage of asymptomatic indications, recognition of symptomatic severe aortic stenosis as reasonable and necessary for Medicare beneficiaries without coverage with evidence development, and modernization of the policy to support heart teams in providing timely access to care.
On PROGRESS, Zovighian said Edwards separated the baseline characteristics presentation from the full results presentation to give physicians more time to understand the patient population. Lippis said the trial studies moderate aortic stenosis patients with at least one at-risk feature and emphasized that it is “not a heart failure trial.” Results are expected to be presented at TCT later this year.
Zovighian said the company expects minimal impact from PROGRESS in 2026 and reiterated that Edwards’ long-term TAVR outlook remains mid- to high-single-digit growth. He said the company remains confident in its target of approximately 10% average annual total company sales growth over the long term, alongside operating margin expansion.
About Edwards Lifesciences (NYSE:EW)Edwards Lifesciences is a medical technology company focused on products and therapies for structural heart disease and critical care monitoring. The company designs, develops and manufactures prosthetic heart valves and related delivery systems used in both surgical and minimally invasive (transcatheter) procedures. Its portfolio addresses a range of valvular conditions, with an emphasis on technologies that enable transcatheter aortic valve replacement (TAVR) as an alternative to open-heart surgery.
In addition to transcatheter heart valves—including the widely recognized SAPIEN family—Edwards offers surgical tissue valves and ancillary devices used by cardiac surgeons, interventional cardiologists and hospital teams.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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3 Swing Trades for Q3 Earnings SeasonOceaneering International NYSE: OII reported second-quarter 2026 results that topped the high end of its adjusted EBITDA guidance range, with management citing strong execution across its portfolio and notable gains in offshore project activity.
President and Chief Executive Officer Rod Larson said the company’s adjusted EBITDA of $115 million was its highest quarterly level since the third quarter of 2015. He said the Offshore Projects Group, or OPG, was the largest contributor to the company’s EBITDA outperformance, driven by a favorable mix of international intervention and installation work, including light well intervention services in the Caspian Sea and an installation project offshore Egypt.
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Senior Vice President and Chief Financial Officer Mike Summerall said consolidated revenue rose 10% year over year to $768 million, with growth in every segment except Integrity Management & Digital Solutions, or IMDS. Operating income increased 11% to $88.2 million, while net income attributable to Oceaneering rose 19% to $65 million, or $0.65 per share. Adjusted EBITDA increased 11% to $115 million.
Offshore Projects and Subsea Robotics Lead Results OPG revenue increased 22% from the prior-year quarter to $183 million, while operating income rose 39% to $30 million. Summerall said the segment generated a 16% operating income margin, supported by disciplined execution on international intervention and installation projects that are expected to continue into the third quarter. Vessel utilization declined year over year, but management expects it to improve in the third quarter as the company supports customers under several frame agreements.
Subsea Robotics, or SSR, also improved year over year, with revenue increasing 6% to $232 million and operating income rising 3% to $66.3 million. Average ROV revenue per day utilized increased to $11,894 from $11,265, reflecting improved contract pricing. ROV utilization was 66%, slightly below 67% in the prior-year quarter, as activity in Europe and West Africa largely offset lower activity in the U.S. Gulf.
Summerall said SSR’s EBITDA margin remained flat at 35%, as higher ROV pricing was offset by geographic and service mix, including a larger contribution from survey work, which carries lower margins than the company’s core ROV business. Larson said the Ocean Intervention II entered service after significant upgrades in 2025 and is now performing survey projects expected to keep the vessel utilized through most of the remainder of 2026. He also said the company expects to conduct a simultaneous operations, or SIMOPS, project from the vessel later this year.
Manufactured Products Improves Margins; ADTech Wins Defense Work Manufactured Products revenue increased 3% to $149 million, while operating income rose 17% to $21.9 million. The segment’s operating income margin improved to 15%, up 178 basis points year over year. Summerall attributed the improvement to conversion of higher-margin backlog, increased volume in the Rotator valves business and improved results in the Mobility Solutions product line.
The segment’s backlog declined to $445 million as of June 30, reflecting execution of previously awarded work. Summerall said the trailing 12-month book-to-bill ratio was 0.88, compared with 0.65 a year earlier. He said the company won multiple awards early in the third quarter and expects additional awards in the third and fourth quarters, supporting management’s expectation that backlog will improve in the second half and meet full-year book-to-bill guidance of 0.9 to 1.0.
In Aerospace and Defense Technologies, or ADTech, revenue increased 22% to $133 million, while operating income was up slightly to $16.4 million. Operating income margin declined to 12%, reflecting program mix and timing in the Oceaneering Technologies, or OTech, business line.
Larson highlighted new contract awards across defense and subsea applications, including subsea robotics, subsea systems, submarine rescue and submarine maintenance, construction and installation services. He pointed to a joint contract from the Defense Innovation Unit to support development of an Extra-Large Unmanned Underwater Vehicle as an example of the company’s strategy to deploy dual-use technologies for both energy and government customers. He also noted that the Space Systems team was recognized by Lockheed Martin as a best-in-class supplier for work on the Artemis program.
Cash Flow, Buybacks and Debt Refinancing Oceaneering generated $55.2 million of cash from operating activities in the quarter. Summerall said the year-over-year decrease reflected the timing of project milestones, customer receipts and vendor payments. The company invested $23.2 million in organic capital expenditures, with 34% allocated to growth and 66% to maintenance, and generated free cash flow of $32 million.
The company resumed share repurchases during the quarter, buying back $10 million of common stock. It ended the period with $629 million in cash, total liquidity of $844 million and no borrowings under its revolving credit facility.
Summerall said Oceaneering placed $500 million of senior notes due in 2034 and used the proceeds, together with cash on hand, to retire $500 million of senior notes due in 2028. The company also amended its secured revolving credit facility, increasing commitments to $345 million from $215 million and extending the maturity to July 2031. He said those transactions would be completed in July.
Asked about capital allocation, Larson said the company’s priorities remain organic investment first, inorganic growth second and returning capital to shareholders, primarily through buybacks. He said Oceaneering intends to invest around its core energy business, particularly SSR, and also sees opportunities to expand in defense, including through partnerships and potential acquisitions.
Guidance Raised at Low End, IMDS Outlook Reduced For the third quarter, Oceaneering expects revenue to increase and adjusted EBITDA to range from $115 million to $125 million. Larson said SSR revenue and operating income are expected to rise as ROV utilization improves and survey activity continues. OPG revenue and operating income are also expected to increase on higher vessel utilization in the U.S. Gulf and West Africa, as well as continuing international projects.
For the full year, management raised the low end of adjusted EBITDA guidance and now expects consolidated adjusted EBITDA of $400 million to $440 million in 2026. Larson said first-half performance increased confidence in the company’s outlook.
However, Oceaneering lowered its outlook for IMDS, citing ongoing uncertainty in the Middle East and reduced activity in West Africa. Management now expects IMDS operating income to decrease significantly compared with full-year 2025, with operating income margin in the low single-digit percentage range. Summerall said second-quarter IMDS revenue, operating income and margin declined due to lower activity, related cost absorption and increased personnel costs in West Africa and the Middle East.
Management Sees Offshore Activity Building During the question-and-answer portion of the call, Larson said offshore activity appears to be rising, though he does not expect a sharply defined inflection point. He cited longer contracts for rigs and ROVs, greater rig utilization and higher levels of contracted rigs as indicators of improving demand.
Larson said SSR should benefit from increased rig utilization and strong tree orders and installations, while OPG should benefit from longer-term confidence in offshore projects. Summerall added that longer-term rig contracts are a positive macro indicator.
Discussing regional opportunities, Larson identified Brazil as a key growth market, pointing to Petrobras activity and the company’s recently announced ROV contract in the country. He also cited Africa, including activity around Namibia and Senegal, as well as Australia and the Far East. Summerall also pointed to Norway and activity tied to Equinor as relevant to European energy security.
On defense spending, Larson said the company is seeing more inbound interest than it did three or four years ago, particularly from partners seeking Oceaneering’s offshore operating experience. Summerall said the company participates in both submarine repair and construction and autonomy-related defense work, including lower-cost uncrewed technologies.
About Oceaneering International (NYSE:OII)Oceaneering International, Inc is a global provider of engineered services and products primarily to the offshore oil and gas industry, as well as to aerospace, defense, and commercial diving markets. The company specializes in remotely operated vehicles (ROVs), subsea intervention, and inspection services designed to support exploration, production and maintenance activities in challenging underwater environments. In addition to ROV operations, Oceaneering offers asset integrity solutions, specialized tooling, and intervention equipment for pipelines, risers, and flowlines.
Founded in 1964 and headquartered in Houston, Texas, Oceaneering has grown through both organic expansion and strategic acquisitions.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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