Akcie e.l.f. Beauty jsou zhruba o 53 % pod historickým maximem, protože trh řeší zpomalující růst tržeb, vyšší výdaje a závislost na čínských dodavatelích.
E.l.f. Beauty's (ELF -1.95%) stock closed at a record high of $221.83 per share on March 4, 2024. That marked a 1,205% gain from its IPO price of $17 per share on Sept. 21, 2016. At the time, the cosmetics company dazzled the market with its rapid sales growth, soaring popularity among Gen Z consumers, and its aggressive expansion plans.
But today, e.l.f.'s stock trades at about $105. Its stock pulled back amid concerns about its slowing revenue growth, higher spending, and its dependence on Chinese suppliers. Let's see if that sell-off was an overreaction -- and if its stock can eventually bounce back.
Image source: Getty Images.
What happened to e.l.f. Beauty? E.l.f. carved out a niche in the crowded cosmetics market with cheap products and savvy social media campaigns that targeted younger shoppers. It also acquired other companies -- including Well People in 2020, Naturium in 2023, and Rhode in 2025 -- to expand into the higher-end skincare market and diversify its business beyond its budget products.
From fiscal 2021 to fiscal 2024 (which ended in March 2024), its net sales and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) growth accelerated as its gross margins reached record highs. But over the following two years, its top- and bottom-line growth decelerated -- even though its gross margins held steady.
Metric
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
FY 2026
Net Sales Growth
12%
23%
48%
77%
28%
25%
Gross Margin
65%
64%
67%
71%
71%
71%
Adjusted EBITDA Growth
(2%)
22%
56%
101%
26%
13%
Data source: e.l.f. Beauty.
Much of e.l.f.'s acceleration from fiscal 2021 to fiscal 2024 was driven by the expansion of its shelf space at major retailers such as Target, Walmart, and Ulta. As it lapped those expansions, its organic growth slowed down, and it increasingly relied on acquisitions to drive its top-line growth. However, its inorganic expansion into higher-end markets increased its exposure to inflationary headwinds, and tariffs on Chinese products drove up its operating expenses, forcing it to adjust its supply chain and raise prices on its budget products. On the bright side, it's reduced its manufacturing dependence on China from nearly 100% in 2019 to about 75% today.
Premium Feature
Moneyball Superscore
79/100
Today's Change
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-1.95
%) $
-2.07
Current Price
$
104.10
Is e.l.f.'s stock still worth buying? Analysts expect e.l.f.'s revenue to rise just 20% in fiscal 2027 and 8% in fiscal 2028. They expect its adjusted EBITDA to increase 20% in fiscal 2027 and 6% in fiscal 2028. That deceleration indicates its business is maturing and its high-growth days are over.
With an enterprise value of $6.8 billion, e.l.f. trades at 17 times this year's adjusted EBITDA. It looks historically cheap, but it doesn't really deserve a higher valuation. Therefore, I expect e.l.f.'s stock to stagnate in this choppy market unless its organic growth accelerates again.
Leo Sun has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Target, Ulta Beauty, and Walmart. The Motley Fool recommends e.l.f. Beauty. The Motley Fool has a disclosure policy.
As burnout drives more physicians toward early retirement, many see AI fluency as their best shot at higher earnings
SAN FRANCISCO--(BUSINESS WIRE)--Doximity, Inc. (NYSE: DOCS), the leading digital platform for U.S. medical professionals, today announced new data indicating that physicians are finding an unexpected source of optimism in AI. Rather than viewing the technology as a threat, nearly a quarter expect it to increase their total compensation within the next year, and two-thirds believe staying current with AI will give them a meaningful earnings edge over peers who don't.
The findings are part of Doximity’s annual Physician Compensation Report, which also shows that the physician shortage continues to weigh heavily on daily practice, with 76% of physicians saying it compromised the quality of care they were able to provide in the past year. That strain is showing up in a growing desire to leave medicine altogether as physicians report being overworked, considering a career change, or eyeing early retirement.
“Physicians go into medicine because they’re passionate about helping people,” said Amit Phull, MD, chief medical officer at Doximity. “Then the job compromises that mission. Admin burden. Extreme hours. A system that doesn’t feel built for them anymore. So it’s no surprise they're looking at AI as leverage, not a threat. Our job at Doximity is simple: give them time back through AI that helps them be more productive and provide better care for their patients.”
Report Highlights
Physicians See AI Fluency as the Next Career Advantage
Rather than fearing displacement, physicians are looking to capitalize: 23% expect AI to increase their total compensation within the next 12 months. 67% believe physicians who stay current with AI tools will have a meaningful earnings advantage over colleagues who don't adopt them in the next 12 months. AI Is the New Professional Currency
At least 39% of physicians surveyed said that AI proficiency is a factor in hiring and promotion decisions for their specialty, including 15% who described it as either a “major” or “moderate” factor. Shortage Still Straining Physicians Fuels Career-Exit Intent
85% of physicians said the physician shortage has already affected their clinical practice. 76% said the shortage and other systemic pressures compromised the quality of care they provided in the past 12 months. In a June 2026 Doximity poll of more than 600 physicians, 82% reported being overworked. Among overworked physicians, 66% are considering a career change, including 46% eyeing early retirement, up from 34%. Broader Compensation Trends
Average physician compensation rose 2% in 2025, down from 3.7% growth the year prior, continuing a trend of moderating pay growth. The gender pay gap held steady at 26% for the second consecutive year, with men earning a nominal $122,276 more than women on average. The pay gap between primary care physicians and specialists widened this year: surgical specialists now earn 90.1% more than primary care physicians, up from 87.3% in 2024. With over 85% of U.S. physicians as members, Doximity brings together one of the nation’s largest physician compensation datasets with workforce surveys, recruiting activity, staffing trends, and insights into AI adoption. The 2026 Physician Compensation Report features new survey findings from June 2026 on how AI is changing physician careers and pay, along with salary data from Doximity’s compensation dataset of more than 23,000 responses collected in 2025.
Read the full 2026 Physician Compensation Report here.
About Doximity
Founded in 2010, Doximity is the leading digital platform for U.S. medical professionals. The company’s network members include more than 85% of U.S. physicians across all specialties and practice areas. Doximity provides its verified clinical membership with digital tools built for medicine, enabling them to collaborate with colleagues, stay current on medical news and research, manage their careers and on-call schedules, streamline documentation and administrative paperwork, and conduct virtual patient visits. With new AI-powered clinical reference and search capabilities, Doximity also helps doctors access trusted, peer-reviewed information and medical literature. Doximity’s mission is to help doctors be more productive so they can provide better care for their patients.
PHILADELPHIA, Aug. 26, 2026 (GLOBE NEWSWIRE) -- Urban Outfitters, Inc. (NASDAQ:URBN), a leading lifestyle products and services company which operates a portfolio of global consumer brands including the Anthropologie, Free People, FP Movement, Urban Outfitters and Nuuly brands, today announced net income of $240.7 million and earnings per diluted share of $2.78 for the three months ended July 31, 2026. For the six months ended July 31, 2026, net income was $356.4 million and earnings per diluted share were $4.06.
For the three months ended July 31, 2026, adjusted net income was $149.3 million and adjusted earnings per diluted share were $1.72. For the six months ended July 31, 2026, adjusted net income was $265.0 million and adjusted earnings per diluted share were $3.02. Adjusted net income and adjusted earnings per diluted share for the three and six months ended July 31, 2026, excludes one-time benefits related to refunds for tariffs previously paid under the International Emergency Economic Powers Act ("IEEPA"), associated interest income and a tax benefit related to the release of a valuation allowance against certain foreign net deferred tax assets. See “Reconciliation of Non-GAAP Financial Measures” included at the end of this release.
Total Company net sales for the three months ended July 31, 2026, increased 10.4% to a record $1.66 billion. Total Retail segment net sales increased 8.0%, with comparable Retail segment net sales increasing 6.2%. The increase in Retail segment comparable net sales was driven by high single-digit positive growth in digital channel sales and mid single-digit positive growth in retail store sales. Comparable Retail segment net sales increased 10.0% at FP Group, 8.4% at Urban Outfitters and 3.0% at Anthropologie. Subscription segment net sales increased 28.6% primarily driven by a 30.4% increase in average active subscribers in the current quarter versus the prior year quarter. Wholesale segment net sales increased 18.6% driven by a 19.2% increase in FP Group wholesale sales due to an increase in sales to specialty customers and department stores.
For the six months ended July 31, 2026, total Company net sales increased 10.9% to a record $3.14 billion. Total Retail segment net sales increased 8.0%, with comparable Retail segment net sales increasing 6.0%. The increase in Retail segment comparable net sales was driven by high single-digit positive growth in digital channel sales and mid single-digit positive growth in retail store sales. Comparable Retail segment net sales increased 9.9% at FP Group, 8.8% at Urban Outfitters and 2.5% at Anthropologie. Subscription segment net sales increased 31.4% primarily driven by a 31.8% increase in average active subscribers in the current period versus the prior year period. Wholesale segment net sales increased 21.7% driven by a 22.6% increase in FP Group wholesale sales primarily due to an increase in sales to specialty customers.
“We are pleased to report our highest adjusted profit quarter in Company history, marking our eighth consecutive quarter of record sales and profits. These results were driven by positive Retail segment ‘comps’ at every brand and continued double-digit growth in our Wholesale and Subscription segments,” said Richard A. Hayne, Chief Executive Officer. “Our customers continue to respond favorably to our fashion assortments. This gives us confidence in URBN's ongoing success,” finished Mr. Hayne.
Net sales by brand and segment for the three and six-month periods were as follows:
Three Months Ended Six Months Ended July 31, July 31, 2026 2025 2026 2025 Net sales by brand Anthropologie$634,535 $606,954 $1,223,608 $1,176,885 FP Group 478,053 415,014 889,772 768,126 Urban Outfitters 360,015 333,171 664,742 606,676 Nuuly 178,605 138,932 345,869 263,286 Menus & Venues 10,707 10,684 19,269 19,283 Total Company$1,661,915 $1,504,755 $3,143,260 $2,834,256 Net sales by segment Retail Segment$1,392,520 $1,289,269 $2,613,434 $2,419,779 Subscription Segment 178,605 138,932 345,869 263,286 Wholesale Segment 90,790 76,554 183,957 151,191 Total Company$1,661,915 $1,504,755 $3,143,260 $2,834,256 For the three months ended July 31, 2026, the gross profit rate increased by 580 basis points compared to the three months ended July 31, 2025, and gross profit dollars increased 27.4% to $721.6 million from $566.2 million. For the three months ended July 31, 2026, the adjusted gross profit rate increased by 4 basis points compared to the three months ended July 31, 2025, and adjusted gross profit dollars increased 10.6% to $625.9 million from $566.2 million. The increase in the adjusted gross profit rate was primarily due to leverage in store occupancy costs due to the increase in comparable Retail segment store net sales and leverage in delivery expense as a result of several company initiatives to offset fuel surcharges, partially offset by an increase in Retail segment markdowns driven by Anthropologie and the negative impacts of tariffs and inbound freight fuel surcharges on initial merchandise costs. The increase in adjusted gross profit dollars was primarily due to higher net sales.
For the six months ended July 31, 2026, the gross profit rate increased by 299 basis points compared to the six months ended July 31, 2025, and gross profit dollars increased 19.8% to $1.26 billion from $1.06 billion. For the six months ended July 31, 2026, the adjusted gross profit rate decreased by 6 basis points compared to the six months ended July 31, 2025, and adjusted gross profit dollars increased 10.7% to $1.17 billion from $1.06 billion. The decrease in the adjusted gross profit rate was primarily due to an increase in Retail segment markdowns driven by Anthropologie and the impact of a prior year gain of $4.8 million, or 17 basis points, not repeated in the current year period, partially offset by leverage in store occupancy costs due to the increase in comparable Retail segment store net sales. The increase in adjusted gross profit dollars was primarily due to higher net sales.
As of July 31, 2026, total inventory increased by $82.3 million, or 11.8%, compared to total inventory as of July 31, 2025. Total Retail segment inventory increased 12.0% and Retail segment comparable inventory increased 8.4%. Wholesale segment inventory increased 10.0%. The increase in Retail segment inventory was due to the increase in net sales and timing of inventory receipts. The increase in Wholesale segment inventory was due to the increase in net sales.
For the three months ended July 31, 2026, selling, general and administrative expenses increased by $41.0 million, or 10.5%, compared to the three months ended July 31, 2025. Selling, general and administrative expenses were flat as a percentage of net sales compared to the three months ended July 31, 2025. The leverage in store payroll expenses due to the growth in Retail segment store net sales was offset by the deleverage in marketing expenses to support customer growth and increased net sales in the Retail and Subscription segments, along with increased artificial intelligence technology investments benefiting the Company's current and future operations. The dollar growth in selling, general and administrative expenses was primarily due to increased marketing expenses to support customer growth and increased net sales in the Retail and Subscription segments, as well as increased store payroll expenses to support the growth in Retail segment store net sales.
For the six months ended July 31, 2026, selling, general and administrative expenses increased by $83.1 million, or 11.0%, compared to the six months ended July 31, 2025. Selling, general and administrative expenses deleveraged 4 basis points as a percentage of net sales compared to the six months ended July 31, 2025. The deleverage in selling, general and administrative expenses was primarily related to deleverage in marketing expenses to support customer growth and increased net sales in the Retail and Subscription segments, along with increased artificial intelligence technology investments benefiting the Company's current and future operations. This was partially offset by a discrete benefit of $6.9 million, or 22 basis points, in the current year period resulting from the reversal of a litigation accrual, as well as leverage in store payroll expenses due to the growth in Retail segment store net sales. The dollar growth in selling, general and administrative expenses was primarily related to increased marketing expenses to support customer growth and increased net sales in the Retail and Subscription segments, increased store payroll expenses to support the growth in Retail segment store net sales and increased artificial intelligence technology investments benefiting the Company's current and future operations.
The Company’s effective tax rate for the three months ended July 31, 2026, was 19.4%, compared to 21.5% in the three months ended July 31, 2025. The Company's adjusted effective tax rate for the three months ended July 31, 2026, was 24.8%. The Company's effective tax rate for the six months ended July 31, 2026, was 19.8%, compared to 21.5% in the six months ended July 31, 2025. The Company's adjusted effective tax rate for the six months ended July 31, 2026, was 23.0%. The change in the adjusted effective tax rate for the three and six months ended July 31, 2026, was primarily attributable to the ratio of foreign taxable earnings to global taxable earnings.
Net income for the three months ended July 31, 2026, was $240.7 million and earnings per diluted share were $2.78. Adjusted net income for the three months ended July 31, 2026, was $149.3 million and adjusted earnings per diluted share were $1.72. Net income for the six months ended July 31, 2026, was $356.4 million and earnings per diluted share were $4.06. Adjusted net income for the six months ended July 31, 2026, was $265.0 million and adjusted earnings per diluted share were $3.02.
On June 4, 2019, the Company’s Board of Directors authorized the repurchase of 20 million common shares under a share repurchase program. During the six months ended July 31, 2026, the Company repurchased and subsequently retired 4.6 million shares for approximately $300 million. During the year ended January 31, 2026, the Company repurchased and subsequently retired 3.3 million shares for approximately $154 million. As of July 31, 2026, 10.0 million common shares were remaining under the program.
Store data for the six months ended July 31, 2026, was as follows:
January 31, July 31, 2026 Openings Closings 2026Anthropologie NA 234 3 1 236Anthropologie EU 20 1 — 21Total Anthropologie 254 4 1 257Free People NA 167 6 — 173FP Movement NA 88 10 1 97Free People EU 13 1 — 14Total FP Group 268 17 1 284Urban Outfitters NA 177 1 2 176Urban Outfitters EU 76 1 1 76Total Urban Outfitters 253 2 3 252Menus & Venues 9 — 1 8Total Company-Owned Stores 784 23 6 801Franchisee-Owned Stores(1) 9 — — 9Total URBN 793 23 6 810 (1) Includes 7 Urban Outfitters and 2 Anthropologie franchisee-owned stores.
Urban Outfitters, Inc. offers lifestyle-oriented general merchandise and consumer products and services through a portfolio of global consumer brands. The Company operates omni-channel retail operations including stores, websites and catalogs for the Anthropologie, Free People, FP Movement and Urban Outfitters brands across the United States, Canada and Europe; Menus & Venues restaurants; and Urban Outfitters and Anthropologie franchisee-owned stores in the Middle East. Free People, FP Movement and Urban Outfitters wholesale sell products to department and specialty stores worldwide, digital businesses and the Company's Retail segment. Nuuly is primarily a women's apparel subscription rental service offering a wide selection of rental product from the Company's own brands, third-party brands and one-of-a-kind vintage pieces.
A conference call will be held today to discuss second quarter results and will be webcast at 5:00 pm. ET at: https://edge.media-server.com/mmc/p/9wzhhhd4/.
As used in this document, unless otherwise defined, “Anthropologie” refers to the Company’s Anthropologie, Terrain and Maeve brands and “FP Group” refers to the Company’s Free People and FP Movement brands.
This news release is being made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Certain matters contained in this release may contain forward-looking statements. When used in this release, the words “project,” “believe,” “plan,” “will,” “anticipate,” “expect” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any one, or all, of the following factors could cause actual financial results to differ materially from those financial results mentioned in the forward-looking statements: overall economic and market conditions (including current levels of inflation) and worldwide political events and the resultant impact on consumer spending patterns and our pricing power, the difficulty in predicting and responding to shifts in fashion trends, changes in the level of competitive pricing and promotional activity and other industry factors, currency fluctuations, economic conditions and legal or regulatory changes, the effects of war and geopolitical instability, including impacts of the conflicts in the Middle East and impacts of the war between Russia and Ukraine and from related sanctions imposed by the United States, European Union, United Kingdom and others, terrorism and civil unrest, natural disasters, severe or unseasonable weather conditions (including as a result of climate change) or public health crises, labor shortages and increases in labor costs, raw material costs and transportation costs, availability of suitable retail space for expansion, timing of store openings, risks associated with international expansion, seasonal fluctuations in gross sales, response to new concepts, our ability to integrate acquisitions, risks associated with digital sales, our ability to maintain and expand our digital sales channels, any material disruptions or security breaches with respect to our technology systems, our effective utilization of technological advancements, including in artificial intelligence, the departure of one or more key senior executives, import risks (including any shortage of transportation capacities or delays at ports), changes to U.S. and foreign trade policies (including the enactment of tariffs such as retaliatory tariffs), border adjustment taxes or increases in duties or quotas, the unexpected closing or disruption of, or any damage to, any of our distribution centers, our ability to protect our intellectual property rights, failure of our manufacturers and third-party vendors to comply with our social compliance program, risks related to environmental, social and governance activities, changes in our effective income tax rate, changes in accounting standards and subjective assumptions, regulatory changes and legal matters and other risks identified in our filings with the Securities and Exchange Commission. The Company disclaims any intent or obligation to update forward-looking statements even if experience or future changes make it clear that actual results may differ materially from any projected results expressed or implied therein.
URBAN OUTFITTERS, INC.
Condensed Consolidated Statements of Income
(amounts in thousands, except share and per share data)
(unaudited) Three Months Ended Six Months Ended July 31, July 31, 2026 2025 2026 2025 Net sales$1,661,915 $1,504,755 $3,143,260 $2,834,256 Cost of sales 940,364 938,594 1,879,143 1,779,031 Gross profit 721,551 566,161 1,264,117 1,055,225 Selling, general and administrative expenses 432,812 391,774 835,697 752,611 Income from operations 288,739 174,387 428,420 302,614 Other income, net 9,801 8,886 15,986 18,532 Income before income taxes 298,540 183,273 444,406 321,146 Income tax expense 57,889 39,408 88,050 68,934 Net income$240,651 $143,865 $356,356 $252,212 Net income per common share: Basic$2.81 $1.60 $4.12 $2.78 Diluted$2.78 $1.58 $4.06 $2.73 Weighted-average common shares outstanding: Basic 85,633,607 89,667,451 86,553,213 90,692,646 Diluted 86,667,561 91,167,981 87,719,187 92,304,624 AS A PERCENTAGE OF NET SALES Net sales 100.0% 100.0% 100.0% 100.0%Cost of sales 56.6% 62.4% 59.8% 62.8%Gross profit 43.4% 37.6% 40.2% 37.2%Selling, general and administrative expenses 26.0% 26.0% 26.6% 26.5%Income from operations 17.4% 11.6% 13.6% 10.7%Other income, net 0.6% 0.6% 0.5% 0.6%Income before income taxes 18.0% 12.2% 14.1% 11.3%Income tax expense 3.5% 2.6% 2.8% 2.4%Net income 14.5% 9.6% 11.3% 8.9% URBAN OUTFITTERS, INC.
Condensed Consolidated Balance Sheets
(amounts in thousands, except share data)
(unaudited) July 31, January 31, July 31, 2026 2026 2025 ASSETS Current assets: Cash and cash equivalents$598,756 $369,206 $332,171 Marketable securities 117,371 326,724 290,664 Accounts receivable, net of allowance for doubtful accounts
of $1,102, $1,209 and $2,388, respectively 102,958 95,668 86,922 Inventory 778,539 700,945 696,199 Prepaid expenses and other current assets 226,772 193,561 213,356 Total current assets 1,824,396 1,686,104 1,619,312 Property and equipment, net 1,658,270 1,466,236 1,376,811 Operating lease right-of-use assets 1,047,947 1,051,109 1,011,840 Marketable securities 229,407 461,858 366,336 Other assets 362,967 342,306 336,494 Total Assets$5,122,987 $5,007,613 $4,710,793 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable$372,642 $327,903 $335,985 Current portion of operating lease liabilities 223,177 225,478 227,105 Accrued expenses, accrued compensation and other
current liabilities 558,300 564,713 533,058 Total current liabilities 1,154,119 1,118,094 1,096,148 Non-current portion of operating lease liabilities 990,197 1,000,088 953,025 Other non-current liabilities 124,455 74,144 81,228 Total Liabilities 2,268,771 2,192,326 2,130,401 Shareholders’ equity: Preferred shares; $.0001 par value, 10,000,000 shares
authorized, none issued — — — Common shares; $.0001 par value, 200,000,000 shares authorized,
85,650,390, 89,698,222 and 89,696,293 shares issued and
outstanding, respectively9 9 9 Additional paid-in-capital 7,022 19,912 7,277 Retained earnings 2,877,697 2,817,448 2,604,741 Accumulated other comprehensive loss (30,512) (22,082) (31,635)Total Shareholders’ Equity 2,854,216 2,815,287 2,580,392 Total Liabilities and Shareholders’ Equity$5,122,987 $5,007,613 $4,710,793 URBAN OUTFITTERS, INC.
Condensed Consolidated Statements of Cash Flows
(amounts in thousands)
(unaudited) Six Months Ended July 31, 2026 2025 Cash flows from operating activities: Net income $356,356 $252,212 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 73,637 61,400 Non-cash lease expense 106,053 106,546 Provision for deferred income taxes 73,591 11,608 Share-based compensation expense 15,702 14,956 Amortization of tax credit investment 7,452 8,587 Loss on disposition of property and equipment, net 388 262 Changes in assets and liabilities: Receivables (7,546) (12,025)Inventory (79,103) (70,611)Prepaid expenses and other assets (70,389) (25,095)Payables, accrued expenses and other liabilities 36,095 23,336 Operating lease liabilities (120,494) (120,130)Net cash provided by operating activities 391,742 251,046 Cash flows from investing activities: Cash paid for property and equipment (268,056) (107,549)Cash paid for marketable securities (117,984) (220,293)Sales and maturities of marketable securities 555,597 295,861 Net cash provided by (used in) investing activities 169,557 (31,981)Cash flows from financing activities: Proceeds from the exercise of stock options — 928 Share repurchases related to share repurchase program (299,996) (151,935)Share repurchases related to taxes for share-based awards (22,092) (21,144)Tax credit investment liability payments (7,803) (8,437)Net cash used in financing activities (329,891) (180,588)Effect of exchange rate changes on cash and cash equivalents (1,858) 3,213 Increase in cash and cash equivalents 229,550 41,690 Cash and cash equivalents at beginning of period 369,206 290,481 Cash and cash equivalents at end of period $598,756 $332,171 Important Information Regarding Non-GAAP Financial Measures
In addition to evaluating the financial condition and results of our operations in accordance with U.S. generally accepted accounting principles (“GAAP”), from time to time our management evaluates and analyzes results and any impact on the Company of certain events outside of normal, or “core,” business and operations, by considering adjusted financial measures not prepared in accordance with GAAP. Examples of items that we consider non-core include refunds for tariffs previously paid under the International Emergency Economic Powers Act ("IEEPA"), associated interest income and the release of a valuation allowance against certain foreign net deferred tax assets. In order to improve the transparency of our disclosures, provide a meaningful presentation of results from our core business operations and improve period-over-period comparability, we have included certain adjusted financial measures for fiscal 2027 that exclude the impact of these non-core business items.
We believe these adjusted financial measures are important indicators of our recurring results of operations because they exclude items that may not be indicative of, or are unrelated to, our underlying results of operations and provide a useful baseline for analyzing trends in our underlying business. Management uses adjusted financial measures for planning, forecasting and evaluating business and financial performance.
Non-GAAP financial measures should be viewed as supplementing, and not as an alternative or substitute for, the Company’s financial results prepared in accordance with GAAP. Certain of the items that may be excluded or included in non-GAAP financial measures may be significant items that could impact the Company’s financial position, results of operations or cash flows and should therefore be considered in assessing the Company’s actual and future financial condition and performance. These adjusted financial measures are not consistent with GAAP and may not be calculated the same as similarly titled measures used by other companies.
URBAN OUTFITTERS, INC. Reconciliation of Non-GAAP Financial Measures (amounts in thousands, except per share data) (unaudited) Reconciliation of Total Company Adjusted Gross Profit: Three Months Ended July 31, 2026 2025 $'s % of Net Sales $'s % of Net Sales Gross profit (GAAP)$721,551 43.4% $566,161 37.6%Adjustments: IEEPA tariff refunds (a) (95,660) — Adjusted gross profit (Non-GAAP)$625,891 37.7% $566,161 37.6% Six Months Ended July 31, 2026 2025 $'s % of Net Sales $'s % of Net Sales Gross profit (GAAP)$1,264,117 40.2% $1,055,225 37.2%Adjustments: IEEPA tariff refunds (a) (95,660) — Adjusted gross profit (Non-GAAP)$1,168,457 37.2% $1,055,225 37.2% Reconciliation of Total Company Adjusted Income From Operations: Three Months Ended July 31, 2026 2025 $'s % of Net Sales $'s % of Net Sales Income from operations (GAAP)$288,739 17.4% $174,387 11.6%Adjustments: IEEPA tariff refunds (a) (95,660) — Adjusted income from operations (Non-GAAP)$193,079 11.6% $174,387 11.6% Six Months Ended July 31, 2026 2025 $'s % of Net Sales $'s % of Net Sales Income from operations (GAAP)$428,420 13.6% $302,614 10.7%Adjustments: IEEPA tariff refunds (a) (95,660) — Adjusted income from operations (Non-GAAP)$332,760 10.6% $302,614 10.7% URBAN OUTFITTERS, INC.Reconciliation of Non-GAAP Financial Measures(amounts in thousands, except per share data)(unaudited) Reconciliation of Total Company Adjusted Income Tax Expense and Adjusted Effective Tax Rate: Three Months Ended July 31, 2026 2025 $'s $'s Income before income taxes (GAAP)$298,540 $183,273 Adjustments: IEEPA tariff refunds (a) (95,660) — Interest income related to IEEPA tariff refunds (b) (4,445) — Adjusted income before income taxes (Non-GAAP)$198,435 $183,273 Income tax expense (GAAP)$57,889 $39,408 Adjustments: Provision for income taxes on adjustments (c) (24,978) — Release of valuation allowance (d) 16,225 — Adjusted income tax expense (Non-GAAP)$49,136 $39,408 Effective income tax rate (GAAP) 19.4% 21.5% Adjustments 5.4 — Adjusted effective income tax rate (Non-GAAP) 24.8% 21.5% Six Months Ended July 31, 2026 2025 $'s $'s Income before income taxes (GAAP)$444,406 $321,146 Adjustments: IEEPA tariff refunds (a) (95,660) — Interest income related to IEEPA tariff refunds (b) (4,445) — Adjusted income before income taxes (Non-GAAP)$344,301 $321,146 Income tax expense (GAAP)$88,050 $68,934 Adjustments: Provision for income taxes on adjustments (c) (24,978) — Release of valuation allowance (d) 16,225 — Adjusted income tax expense (Non-GAAP)$79,297 $68,934 Effective income tax rate (GAAP) 19.8% 21.5% Adjustments 3.2 — Adjusted effective income tax rate (Non-GAAP) 23.0% 21.5% URBAN OUTFITTERS, INC. Reconciliation of Non-GAAP Financial Measures (amounts in thousands, except per share data) (unaudited) Reconciliation of Total Company Adjusted Net Income and Adjusted Diluted EPS: Three Months Ended July 31, 2026 2025 $'s % of Net Sales $'s % of Net Sales Net income (GAAP)$240,651 14.5% $143,865 9.6%Adjustments: IEEPA tariff refunds (a) (95,660) — Interest income related to IEEPA tariff refunds (b) (4,445) — Provision for income taxes on adjustments (c) 24,978 — Release of valuation allowance (d) (16,225) — Adjusted net income (Non-GAAP)$149,299 9.0% $143,865 9.6% Diluted EPS (GAAP)$2.78 $1.58 Adjustments, net of tax (1.06) — Adjusted diluted EPS (Non-GAAP)$1.72 $1.58 Six Months Ended July 31, 2026 2025 $'s % of Net Sales $'s % of Net Sales Net income (GAAP)$356,356 11.3% $252,212 8.9%Adjustments: IEEPA tariff refunds (a) (95,660) — Interest income related to IEEPA tariff refunds (b) (4,445) — Provision for income taxes on adjustments (c) 24,978 — Release of valuation allowance (d) (16,225) — Adjusted net income (Non-GAAP)$265,004 8.4% $252,212 8.9% Diluted EPS (GAAP)$4.06 $2.73 Adjustments, net of tax (1.04) — Adjusted diluted EPS (Non-GAAP)$3.02 $2.73 (a) Included in "Cost of sales" is a one-time benefit related to refunds for tariffs previously paid under the International Emergency Economic Powers Act ("IEEPA") which the Company received during the three and six months ended July 31, 2026. (b) Included in "Other income, net" is interest income related to refunds for IEEPA tariffs received during the three and six months ended July 31, 2026. (c) The income tax impact of non-GAAP adjustments is calculated using the estimated tax rate in effect for the respective non-GAAP adjustment. (d) During the three and six months ended July 31, 2026, the Company released a valuation allowance against certain of its foreign net deferred tax assets, resulting in a benefit included in "Income tax expense." Contact: Oona McCullough Executive Director of Investor Relations (215) 454-4806
Urban Outfitters vykázal za 2. čtvrtletí upravený zisk 1,72 USD na akcii, mírně pod odhady, ale výnosy 1,662 miliardy USD je překonaly. Akcie včera klesly o 4,6 %.
Urban Outfitters (NASDAQ:URBN) on Wednesday posted mixed results for the second quarter.
The company posted second-quarter adjusted earnings of $1.72 per share, missing market estimates of $1.73 per share. The company’s sales came in at $1.662 billion versus estimates of $1.635 billion.
“We are pleased to report our highest adjusted profit quarter in Company history, marking our eighth consecutive quarter of record sales and profits. These results were driven by positive Retail segment ‘comps’ at every brand and continued double-digit growth in our Wholesale and Subscription segments,” said Richard A. Hayne, Chief Executive Officer. “Our customers continue to respond favorably to our fashion assortments. This gives us confidence in URBN’s ongoing success.”
Urban Outfitters shares fell 4.6% to trade at $79.11 on Thursday.
These analysts made changes to their price targets on Urban Outfitters following earnings announcement.
Wells Fargo analyst Ike Boruchow maintained the stock with an Equal-Weight rating and raised the price target from $75 to $80. UBS analyst Jay Sole maintained the stock with a Neutral and raised the price target from $80 to $82. Considering buying URBN stock? Here’s what analysts think:
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Mizuho zvýšila doporučení pro Canadian Solar na Neutral z Underperform a stanovila cílovou cenu 19 USD. Banka očekává, že firma zvládne 45X daňové kredity díky nové výrobě v USA.
Canadian Solar has shed nearly 40% this year and sits far below its 52-week high, but a surprise analyst upgrade and a pair of upcoming U.S. factory launches are reshaping the bull case heading into the company's August earnings call.
Canadian Solar (NASDAQ:CSIQ) was one of the more punishing solar names in the first half of 2026. Shares slid nearly 40% from the start of the year through the end of June. CSIQ sits well below its 52-week high of $34.59, but over the past month, the stock has rallied more than 7%. Most analysts remain cautious, with the Street consensus target at $21.60. But Mizuho recently stepping in with an upgrade and a fresh take on the regulatory overhang that has weighed on the name.
Mizuho upgraded Canadian Solar to Neutral from Underperform, setting a $19 price target, down from $21. The firm’s new target sits below the Street consensus of $21.60 but reflects a meaningful shift in conviction from outright bearish to neutral.
Mizuho’s $19 CSIQ Prediction The core of Mizuho’s upgrade is the view that Canadian Solar’s Prohibited Foreign Entity-related underperformance is overdone. The firm now assumes the company can qualify for 45X manufacturing tax credits as a non-Prohibited Foreign Entity. The lower target reflects reduced volume expectations and higher cash outflow tied to the U.S. factory buildout, but the regulatory risk that drove the prior Underperform rating is no longer seen as a structural threat.
Key Drivers of CSIQ Stock Performance Battery energy storage momentum: Canadian Solar’s e-STORAGE division signed a deal for a 500 MW/2,493 MWh DC battery system with a major U.S. utility, and management is guiding for 14-17 GWh of energy storage shipments in 2026, up sharply from prior years. The segment delivers better margins than the legacy module business, with gross margin expanding to 20.6% for the nine-month 2025 period versus 17.5% in the prior year. U.S. manufacturing coming online: An Indiana solar cell factory is expected to begin production in March 2026, with a Kentucky lithium battery factory following in December 2026. Domestic production directly supports 45X tax credit eligibility, the key regulatory hurdle Mizuho now believes the company can clear. Capital recycling through project monetization: CEO Shawn Qu has been direct about the strategy: “Recurrent Energy will increase project ownership sales in 2026 to recycle capital and manage the overall debt level.” With a $3.10 billion contracted BESS backlog and an 80 GWh development pipeline, the asset monetization flywheel could support sustained revenue visibility over time. What Will It Take for CSIQ to Reach $19? With 66.97 million shares outstanding, the stock currently trades at $14.32. The path hinges on two conditions: Canadian Solar formally clearing the Prohibited Foreign Entity designation to protect its tax credit eligibility, and the energy storage segment continuing to scale without margin deterioration. A Q2 earnings call is scheduled for Aug. 27, 2026, which is likely the next major catalyst.
The primary risk remains China-linked manufacturing exposure, with CSI Solar reporting a 54.56% net profit decline in 2025 due to tariffs and oversupply. Still, Mizuho’s shift off Underperform reflects the firm’s view that the stock’s decline since November has already accounted for the regulatory risk that previously drove its bearish stance.
Contact [email protected] for any questions or corrections.
Canadian Solar ve 2. čtvrtletí vykázala čistou ztrátu 77 mil. USD při tržbách 1,2 mld. USD. Dodávky bateriových úložišť dosáhly 3,7 GWh a překonaly výhled.
, /PRNewswire/ -- Canadian Solar Inc. ("Canadian Solar" or the "Company") (NASDAQ: CSIQ) today announced financial results for the second quarter ended June 30, 2026.
Second Quarter Highlights
Energy storage shipments of 3.7 GWh to internal and external projects under execution, exceeding guidance of 2.8 GWh to 3.2 GWh. Net revenues of $1.2 billion, at the high end of $1.0 billion to $1.2 billion guidance. Gross margin of 13.9%, in line with guidance of 13% to 15%. Officially opened the first phase of the flagship HJT solar cell factory in Jeffersonville, Indiana. Published the 2025 Sustainability Report on June 1, 2026, highlighting new milestones and disclosure updates aligned to global reporting standards. Colin Parkin, CEO of Canadian Solar, said, "We are executing on a multidimensional solar technology roadmap, spanning advanced cell innovations to next-generation applications. In the near to midterm, U.S. manufacturing remains at the forefront of our strategy. In July, we celebrated the official opening of our state-of-the-art HJT solar cell factory, marking a historic milestone, as Canadian Solar became not only the first commercially operational HJT manufacturer in the United States, but also a meaningful contributor to the local economy and community development. In addition to ramping up the Phase I capacity of 2.1 GWp, we will start installing equipment for Phase II before the end of the year, bringing total nameplate cell capacity to 6.3 GWp in the first half of 2027. This will position CS PowerTech as the largest crystalline silicon cell manufacturer in North America. When combined with our 10 GWp module facility in Texas, CS PowerTech solidifies its position as one of North America's premier integrated PV manufacturers.
During the quarter, shipments within our Manufacturing segment were in line with expectations, with slight operational outperformance in battery energy storage, as we continue to navigate global macroeconomic uncertainties with agility. We delivered 3.1 GW of solar modules, with nearly half shipped to our North American home base. In addition, we achieved 3.7 GWh of energy storage shipments to internal and external projects under execution, serving utility-scale projects across North America, EMEA, Asia Pacific and Latin America. As we double down on our U.S. manufacturing strategy, we continue to rebalance our global project development business and optimize capital allocation across our core growth engines."
Xinbo Zhu, Senior VP and CFO, added, "For the quarter, we achieved total revenue of $1.2 billion with a gross margin of 13.9%. The sequential decrease in gross margin was primarily driven by the absence of a tariff refund recognized in the prior period, alongside normalized energy storage margins. Net loss attributable to shareholders was $77 million, or $1.40 per share, and we ended the period with a cash position of $1.9 billion.
Recurrent Energy's quarterly performance was light, primarily due to the deferral of planned project sales to the second half. Electricity revenue increased sequentially following the COD of a major utility-scale solar project in Spain. Within our global pipeline, we are focusing on quality, prioritizing value realization from mature, high-margin opportunities; pruning less attractive projects; and managing operating expenses to protect profitability."
Second Quarter 2026 Results
Total solar module shipments recognized as revenue in Q2 2026 were 3.1 GW, up 25% quarter-over-quarter ("qoq") and down 60% year-over-year ("yoy").
Total battery energy storage shipments recognized as revenue in Q2 2026 were 3.7 GWh, up 82% qoq and up 73% yoy. Of the total, 471 MWh were shipped to internal projects under execution, with associated revenue to be recognized in subsequent quarters.
Net revenues were $1.2 billion in Q2 2026, up 12% sequentially and down 29% yoy. The sequential increase reflects higher sales of solar modules and battery energy storage solutions, partially offset by lower project sales. The yoy decrease reflects a decline in solar module and project sales.
Gross profit was $168 million, compared to $271 million in Q1 2026 and $505 million in Q2 2025. Gross margin was 13.9%, compared to 25.1% and 29.8% in Q1 2026 and Q2 2025, respectively. The sequential and yoy decrease in gross margin was primarily due to the absence of IEEPA tariff refund benefits recognized in the previous quarter and the absence of the release of unrealized profit upon sales-type leasing of a U.S. project in Q2 2025.
Operating expenses were $240 million, compared to $198 million in Q1 2026 and down from $378 million in Q2 2025. The sequential increase reflects higher ramp-up costs and logistics costs. The yoy decrease is mainly due to decrease in impairment charges related to certain solar and storage assets, as well as manufacturing assets. Operating expenses represented 19.8% of revenue, compared to 18.4% in Q1 2026 and 22.3% in Q2 2025.
Net loss attributable to Canadian Solar in accordance with generally accepted accounting principles in the United States of America ("GAAP") in Q2 2026 was $77 million, or a net loss of $1.40 per share, compared to a net loss of $32 million, or a net loss of $0.71 per share, in Q1 2026, and a net income of $7 million, or a net loss of $0.08 per share, in Q2 2025. Net income or loss per diluted share includes the dilutive effect of convertible bonds, as applicable, and paid-in-kind dividends on the Recurrent Energy redeemable preferred shares.
Net cash flow used in operating activities in Q2 2026 was $181 million, driven by changes in working capital, compared to net cash flow used in operating activities of $209 million in Q1 2026 and net cash flow provided by operating activities of $189 million in Q2 2025.
Total debt, including financing liabilities, was $7.1 billion as of June 30, 2026, including $4.1 billion, $2.5 billion, and $0.4 billion related to Recurrent Energy, Manufacturing, and convertible notes, respectively. Total debt increased from $6.8 billion as of March 31, 2026, mainly due to new non-recourse debt drawdown for construction of solar and battery energy storage projects under Recurrent Energy in the U.S. Total non-recourse debt under Recurrent Energy as of June 30, 2026, was $2.6 billion.
Business Segments
Canadian Solar's business is organized into two segments:
Manufacturing, comprising CS PowerTech, which focuses on the manufacture and sales of solar products, battery energy storage products, and other power technology products for the U.S. market, and CSI Solar, which serves all other global markets; and Recurrent Energy, which focuses on solar power and battery storage project development, asset sales, power services, and electricity revenue from its operating portfolio. Manufacturing
Solar Modules and Solar System Kits
The Company shipped 3.1 GW of solar modules and solar system kits to more than 70 countries and regions in Q2 2026.
Consistent with the Company's transition from volume-driven growth to high-value creation, the Company will focus its capacity disclosure on strategic markets rather than aggregate global manufacturing capacity.
In the U.S., the Company operates a 5 GWp solar module factory in Mesquite, Texas, which is currently being expanded to a nameplate capacity of 10 GWp, with completion expected in the second half of 2026.
The Company is also continuing to advance its flagship, state-of-the-art heterojunction technology ("HJT") solar cell factory in Jeffersonville, Indiana. In response to strong customer demand, the Company is in the process of increasing its production capacity beyond 6 GWp, with additional production lines being installed and commissioned through 2026.
Phase I: A ribbon-cutting ceremony was held in July 2026. Phase I has a nameplate capacity of 2.1 GWp and is the first commercial-scale HJT solar cell facility in the U.S. Phase II: The Company expects to begin trial production for Phase II in the first quarter of 2027. This expansion will add 4.2 GWp of capacity, bringing the Company's total solar cell nameplate capacity in the U.S. to 6.3 GWp. e-STORAGE: Battery Energy Storage Solutions
As of June 30, 2026, e-STORAGE contracted backlog, including contracted long-term service agreements, stood at $3.5 billion. These signed orders represent binding customer commitments and provide significant earnings visibility over a multi-year period.
Recurrent Energy
As of June 30, 2026, the Company had a total global solar project development pipeline of approximately 22 GWp and a battery energy storage project development pipeline of 84 GWh.
The business model consists of three key drivers:
Electricity revenue from the operating portfolio to drive stable, diversified cash flows in growth markets; Asset sales, including selective sales of operating assets and development-stage projects, to manage cash flow and debt levels, and to fund growth in the operating portfolio; and Power services (O&M) through long-term operations and maintenance ("O&M") contracts, currently with 15 GW of contracted projects, to drive stable and long-term recurring earnings and synergies with the project development platform. Project Development Pipeline – Solar
As of June 30, 2026, the Company's total solar project development pipeline was 21.7 GWp, including 1.7 GWp under construction, 2.2 GWp of backlog, and 17.7 GWp of projects in advanced and early-stage development. The pipeline includes projects that may be retained for long-term ownership and operation or sold to third parties, depending on market conditions and capital allocation priorities. The pipeline stages are defined as follows:
Backlog projects are late-stage projects that have passed their risk cliff date and are expected to start construction within the next one to four years. A project's risk cliff date is the date on which it passes the last high-risk development stage and varies by country. Typically, this occurs after the project has received all required environmental and regulatory approvals, and entered into interconnection agreements and offtake contracts, including feed-in tariff ("FIT") arrangements and power purchase agreements ("PPAs"). A significant majority of backlog projects are contracted (i.e., have secured a PPA or FIT), and the remainder have a reasonable likelihood of securing PPAs. Advanced pipeline projects are mid-stage projects that have secured or are assessed by the Company as having a high likelihood of securing an interconnection agreement. Early-stage pipeline projects are early-stage projects managed by the Company that are in the process of securing interconnection. Although the magnitude of the Company's project development pipeline provides an indication of current development activity, it is not a predictor of future owned generation or storage assets, revenue growth, or operating results. The Company may elect to sell, transfer, or otherwise monetize projects at various stages of development, and as a result, not all pipeline projects are expected to contribute to the Company's long-term owned asset base. The development of projects in the Company's pipeline is inherently uncertain. If the Company does not successfully complete the pipeline projects in a timely manner, it may not realize the anticipated benefits of those projects to the extent expected, which could adversely affect its business, results of operations, and financial condition. In addition, the Company's guidance and estimates of its future operating and financial results assume the timely completion of certain solar and battery energy storage projects under construction or in backlog. If the Company is unable to execute on its projects under construction and in backlog, it may fail to meet its guidance, which could adversely affect the market price of its common shares and its business, results of operations, and financial condition.
The following table presents the Company's total solar project development pipeline.
Solar Project Development Pipeline (as of June 30, 2026) – MWp*
Region
Under
Construction
Backlog
Advanced
Development
Early-Stage
Development
Total
North America
558
226
293
4,573
5,650
Europe, the Middle East, and Africa
("EMEA")
674
1,438
1,012
3,169
6,293
Latin America
-
488
352
5,906
6,746
Asia Pacific
492
56
572
1,858
2,978
Total
1,724
2,208
2,229
15,506
21,667
*Total project pipeline represents the gross MWp size of projects owned by the Company and includes 392 MWp in backlog partially sold
to third parties.
Project Development Pipeline – Battery Energy Storage
As of June 30, 2026, the Company's total battery energy storage project development pipeline was 84.1 GWh, including 600 MWh under construction, 4.4 GWh in backlog, and 79.1 GWh of projects in advanced and early-stage development. The pipeline includes projects that may be retained for long-term ownership and operation or sold to third parties.
The table below sets forth the Company's total battery energy storage project development pipeline.
Battery Energy Storage Project Development Pipeline (as of June 30, 2026) – MWh*
Region
Under
Construction
Backlog
Advanced
Development
Early-Stage
Development
Total
North America
600
-
600
21,840
23,040
EMEA
-
2,665
2,640
26,965
32,270
Latin America
-
93
1,320
10,753
12,166
Asia Pacific
-
1,620
3,281
11,680
16,581
Total
600
4,378
7,841
71,238
84,057
*Total project pipeline represents the gross MWh size of projects owned by the Company and includes 1,496 MWh in backlog partially
sold to third parties.
Business Outlook
The Company's business outlook is based on management's current views and estimates, taking into account factors such as existing market conditions, order book, production capacity, input material prices, foreign exchange fluctuations, the anticipated timing of project sales, and the global economic environment. This outlook is subject to uncertainty with respect to, among other things, customer demand, project construction and sale schedules, product sales prices and costs, supply chain constraints, and geopolitical conflicts. Management's views and estimates are subject to change without notice.
In Q3 2026, the Company expects total revenue to be in the range of $1.3 billion to $1.5 billion. Gross margin is expected to be between 13.5% and 15.5%. Total module shipments recognized as revenue are expected to be in the range of 3.5 GW to 3.8 GW. Total battery energy storage shipments in Q3 2026 are expected to be in the range of 3.4 GWh to 3.8 GWh.
The Company is reiterating its guidance of 6.5 GW to 7.0 GW of solar modules and 4.5 GWh to 5.5 GWh of battery energy storage solutions for the U.S. market in 2026.
Colin Parkin, CEO of Canadian Solar, commented, "We expect margins in the third quarter to remain stable, as we continue to scale our integrated U.S. solar manufacturing strategy, though ramp-up costs associated with our solar cell facility in Jeffersonville, Indiana, will weigh on profitability for the remainder of the year. We anticipate the cadence of U.S. solar and storage shipments to accelerate in the second half, with each quarter of 2026 delivering larger volumes than the last. Meanwhile, at Recurrent, we expect to close the delayed project sales from the second quarter, driving a sequentially stronger third quarter."
Recent Developments
Canadian Solar
On August 18, 2026, Canadian Solar announced the successful resolution of the remaining U.S. patent litigation brought by Maxeon Solar Pte. Ltd. ("Maxeon"). Maxeon's patent infringement lawsuit in the Federal District Court was dismissed with prejudice, and the U.S. Court of Appeals for the Federal Circuit vacated the relevant portion of the Patent Trial and Appeal Board decision in Canadian Solar's favor.
On July 30, 2026, Canadian Solar announced that its U.S.-manufactured TOPCon and HJT Low Carbon HP modules achieved FM Approvals recognition under the FM 4478 and FM 4480 identified component standards, making them the first FM Approvals PV modules listed as identified components for severe hail zones.
On July 14, 2026, Canadian Solar announced that it was named a Tier 1 supplier for both battery energy storage systems and PV modules on S&P Global Energy's Tier 1 Cleantech Companies list. S&P Global Energy's selection criteria span market presence and cumulative equipment shipments; annual market share; scale; global manufacturing diversification; financial performance via key financial indicators, sustainability factors, and more.
On June 24, 2026, Canadian Solar announced that its Baotou ingot facility and Suqian solar cell manufacturing facilities earned Silver Level Solar Stewardship Initiative (SSI) Supply Chain Traceability Certification, becoming the first manufacturer to receive Silver status for both ingot and cell production.
On June 22, 2026, Canadian Solar announced the launch of its new TOPCon 3.0 high-power-density module delivering up to 670 Wp power output and 24.8% conversion efficiency of 24.8% for utility-scale and C&I applications, with mass global shipments scheduled to begin in August 2026.
On June 1, 2026, Canadian Solar announced the publication of its 2025 Corporate Sustainability Report. The sustainability disclosures are aligned with global standards established by the Sustainability Accounting Standards Board (SASB) and Global Reporting Initiative (GRI), with reference to the International Financial Reporting Standards (IFRS) set by the International Sustainability Standards Board (ISSB).
Manufacturing: CS PowerTech and CSI Solar
On August 13, 2026, Canadian Solar announced its energy storage solutions business, e-STORAGE, successfully completed Large-Scale Fire Testing (LSFT) for its KuBank 3.0 C&I energy storage system under the latest UL 9540A:2026 standard. The test was independently verified by TÜV Rheinland and Energy Safety Response Group (ESRG), and the system has entered mass production for worldwide availability.
On July 24, 2026, Canadian Solar announced that its subsidiary CS PowerTech Inc., the largest silicon PV manufacturer in the U.S., officially launched the first phase of its flagship PV cell manufacturing plant in Jeffersonville, Indiana. The facility is the first plant in the U.S. designed to produce advanced HJT bifacial N-type solar cells. Combined with the Texas module facility, it creates a fully localized supply chain with an expected total annual cell capacity of over 6 GWp.
On June 25, 2026, Canadian Solar announced e-STORAGE signed a supply contract with an electric utility in Florida to supply a 95 MW / 426 MWh DC battery energy storage system (BESS). Featuring its proprietary SolBank 3.0 battery blocks which are fully produced at Canadian Solar's manufacturing facilities, the installation is planned for the second half of 2027, with commercial operations targeted for early 2028.
On June 24, 2026, Canadian Solar announced e-STORAGE will supply a 75 MW / 381 MWh DC BESS to Apex Clean Energy in Branch County, Michigan, co-located with Apex's operating Coldwater Solar facility. Under the agreement, e-STORAGE will deliver an integrated solution combining SolBank 3.0 battery blocks, Power Conversion Systems, and its proprietary EQ‑S Energy Management System, with deliveries scheduled to begin in early 2027 and commercial operation targeted for mid-2027.
On June 23, 2026, Canadian Solar announced e-STORAGE will deliver an 8 MW / 40 MWh BESS, co-located at an existing combined-cycle gas power plant in Rizziconi, Calabria, to Axpo. This partnership marks e-STORAGE's first battery storage project in Italy.
Recurrent Energy
On August 13, 2026, Canadian Solar announced that its subsidiary, Recurrent Energy, successfully closed $695 million in project financing and tax equity for its 330 MW Cobalt Solar facility located in Riverside County, California. The debt financing package, totaling approximately $484 million, was led by Mitsubishi UFJ Financial Group, Inc. (MUFG) and Nord/LB, while a parallel $211 million tax equity investment was secured from Wells Fargo. Currently under construction with Blattner Energy serving as the EPC provider, the project is expected to reach commercial operation by the end of 2027.
On August 12, 2026, Canadian Solar announced Recurrent Energy reached commercial operation ahead of schedule for its 150 MWac Carwarp Energy Park near Mildura, Victoria, Australia. Backed by a long-term PPA with Microsoft, the asset incorporates approximately 243,000 high-efficiency Canadian Solar TOPCon modules and holds planning and grid approvals to incorporate a hybrid 120 MW BESS.
On July 6, 2026, Canadian Solar announced an executive leadership transition at Recurrent Energy. Mr. Dylan Marx was appointed Chief Executive Officer, succeeding Mr. Ismael Guerrero, who will remain as a non-executive advisor through December 31, 2026.
Conference Call Information
The Company will hold a conference call on Thursday, August 27, 2026, at 8:00 a.m. U.S. Eastern Time to discuss the Company's second quarter 2026 results and business outlook. The dial-in phone number for the live audio call is +1-877-704-4453 (toll-free from the U.S.) or +1-201-389-0920 from international locations. The conference ID is 13762069. A live webcast of the conference call will also be available via the webcast link on the investor relations section of Canadian Solar's website.
A replay of the call will be available after the conclusion of the call until 11:00 p.m. U.S. Eastern Time on Thursday, September 10, 2026, and can be accessed by dialing +1-844-512-2921 (toll-free from the U.S.) or +1-412-317-6671 from international locations. The replay pin number is 13762069. A webcast replay will also be available via the webcast link on the investor relations section of Canadian Solar's website.
About Canadian Solar Inc.
Canadian Solar is one of the world's largest solar technology and renewable energy companies. Founded in 2001 and headquartered in Kitchener, Ontario, the Company is a leading manufacturer of solar photovoltaic modules; provider of solar energy and battery energy storage solutions; and developer, owner, and operator of utility-scale solar power and battery energy storage projects. Over the past 25 years, Canadian Solar has successfully delivered nearly 180 GW of premium-quality solar photovoltaic modules to customers across the world. Through its energy storage solutions business e-STORAGE, Canadian Solar has shipped over 23 GWh of battery energy storage solutions to global markets and had a contracted backlog of $3.5 billion as of June 30, 2026. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 12.4 GWp of solar power projects and 6.4 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes approximately 22 GWp of solar and 84 GWh of battery energy storage capacity in various stages of development. Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.
Safe Harbor/Forward-Looking Statements
Certain statements in this press release, including those regarding the Company's expected future shipment volumes, revenues, gross margins, and project sales are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "may", "will", "expect", "anticipate", "future", "ongoing", "continue", "intend", "plan", "potential", "prospect", "guidance", "believe", "estimate", "is/are likely to" or similar expressions, the negative of these terms, or other comparable terminology. These forward-looking statements include, among other things, our expectations regarding global electricity demand and the markets for solar power and battery energy storage; our growth strategies, future business performance, and financial condition; our ability to sustain our project development and balance long-term asset ownership with selective project sales; our ability to monetize project portfolios, manage supply chain fluctuations, and respond to economic factors such as inflation and interest rates; our outlook on government incentives, and policy support schemes, trade measures, regulatory developments, and geopolitical risks; our expectations for project timelines, costs, offtake and returns; competitive dynamics in solar and storage markets; our ability to execute supply chain, manufacturing, and operational initiatives; access to capital, debt obligations, and covenant compliance; relationships with key suppliers and customers; technological advancement and product quality; and risks related to intellectual property, litigation, and compliance with environmental and sustainability regulations. Other risks are described in the Company's filings with the Securities and Exchange Commission, including its latest annual report on Form 20-F filed on April 10, 2026. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.
Investor Relations Contact:
FINANCIAL TABLES FOLLOW
The following tables provide unaudited select financial data for the Company's Manufacturing and Recurrent Energy businesses.
Select Financial Data – Manufacturing and Recurrent Energy
Three Months Ended and As of June 30, 2026
(In Thousands of U.S. Dollars)
Manufacturing
Recurrent
Energy
Elimination
and
unallocated
items
Total
Net revenues
$ 1,097,535
$ 117,306
$ (7,127)
$ 1,207,714
Cost of revenues
966,977
81,335
(9,073)
1,039,239
Gross profit
130,558
35,971
1,946
168,475
Operating expenses
179,932
55,341
4,261
239,534
Loss from operations
(49,374)
(19,370)
(2,315)
(71,059)
Other segment items (1)
3,719
Loss before income taxes and
equity in losses of affiliates
(67,340)
Supplementary Information:
Interest expense
$ (14,657)
$ (41,913)
$ (7,054)
$ (63,624)
Interest income
10,645
10,388
10
21,043
Depreciation and amortization,
included in cost of revenues and
operating expenses
111,918
15,855
—
127,773
Cash and cash equivalents
$ 1,344,189
$ 74,939
$ 42,120
$ 1,461,248
Restricted cash – current and non-
current
248,584
140,524
—
389,108
Non-recourse borrowings
—
2,622,080
—
2,622,080
Other short-term and long-term
borrowings
2,407,554
1,320,796
28,000
3,756,350
Convertible notes – non-current
—
—
420,063
420,063
Green bonds – current
—
147,995
—
147,995
Select Financial Data – Manufacturing and Recurrent Energy
Six Months Ended June 30, 2026
(In Thousands of U.S. Dollars)
Manufacturing
Recurrent
Energy
Elimination
and
unallocated
items
Total
Net revenues
$ 2,047,197
$ 256,538
$ (18,143)
$ 2,285,592
Cost of revenues
1,640,293
235,084
(29,080)
1,846,297
Gross profit
406,904
21,454
10,937
439,295
Operating expenses
329,461
101,077
6,950
437,488
Income (loss) from operations
77,443
(79,623)
3,987
1,807
Other segment items (1)
(60,462)
Loss before income taxes and
equity in losses of affiliates
(58,655)
Supplementary Information:
Interest expense
$ (29,485)
$ (73,577)
$ (12,932)
$ (115,994)
Interest income
16,897
20,590
214
37,701
Depreciation and amortization,
included in cost of revenues and
operating expenses
226,007
32,487
—
258,494
(1) Includes interest expense, net, gain on change in fair value of derivatives, net, foreign exchange loss, net and investment income, net.
The following table summarizes the revenues generated from each product or service.
Three Months
Ended
June 30, 2026
Three Months
Ended
March 31, 2026
Three Months
Ended
June 30, 2025
(In Thousands of U.S. Dollars)
Manufacturing:
Solar modules
$ 589,377
$ 455,117
$ 1,022,266
Battery energy storage solutions
425,922
382,758
432,399
Solar system kits
35,575
25,437
73,812
EPC and others
42,970
77,152
61,613
Subtotal
1,093,844
940,464
1,590,090
Recurrent Energy:
Solar power and battery energy storage asset
sales
61,114
88,541
48,091
Power services
20,053
22,416
18,809
Revenue from electricity, battery energy storage
operations and others
32,703
26,457
36,881
Subtotal
113,870
137,414
103,781
Total net revenues
$ 1,207,714
$ 1,077,878
$ 1,693,871
Six Months Ended
June 30, 2026
Six Months Ended
June 30, 2025
(In Thousands of U.S. Dollars)
Manufacturing:
Solar modules
$ 1,044,494
$ 1,819,688
Battery energy storage solutions
808,680
587,709
Solar system kits
61,012
159,338
EPC and others
120,122
96,650
Subtotal
2,034,308
2,663,385
Recurrent Energy:
Solar power and battery energy storage asset
sales
149,655
120,242
Power services
42,469
35,308
Revenue from electricity, battery energy storage
operations and others
59,160
71,561
Subtotal
251,284
227,111
Total net revenues
$ 2,285,592
$ 2,890,496
Canadian Solar Inc.
Unaudited Condensed Consolidated Statements of Operations
(In Thousands of U.S. Dollars, Except Share and Per Share Data)
Three Months Ended
Six Months Ended
June 30,
March 31,
June 30,
June 30,
June 30,
2026
2026
2025
2026
2025
Net revenues
$ 1,207,714
$ 1,077,878
$ 1,693,871
$ 2,285,592
$ 2,890,496
Cost of revenues
1,039,239
807,058
1,188,841
1,846,297
2,244,972
Gross profit
168,475
270,820
505,030
439,295
645,524
Operating expenses:
Selling and distribution expenses
74,907
54,281
109,479
129,188
200,246
General and administrative
expenses
152,300
135,472
252,671
287,772
358,322
Research and development
expenses
20,796
20,718
24,719
41,514
49,003
Other operating income, net
(8,469)
(12,517)
(9,272)
(20,986)
(34,675)
Total operating expenses
239,534
197,954
377,597
437,488
572,896
Income (loss) from operations
(71,059)
72,866
127,433
1,807
72,628
Other income (expenses):
Interest expense
(63,624)
(52,370)
(44,807)
(115,994)
(85,294)
Interest income
21,043
16,658
9,920
37,701
22,016
Gain (loss) on change in fair value of
derivatives, net
14,621
4,985
(5,760)
19,606
(14,799)
Foreign exchange loss, net
(23,172)
(33,920)
(7,318)
(57,092)
(11,904)
Investment income, net
54,851
466
1,666
55,317
2,756
Total other income (expenses)
3,719
(64,181)
(46,299)
(60,462)
(87,225)
Income (loss) before income taxes
and equity in losses of affiliates
(67,340)
8,685
81,134
(58,655)
(14,597)
Income tax expense
(16,339)
(16,938)
(34,311)
(33,277)
(11,189)
Equity in losses of affiliates
(2,095)
(5,255)
(2,053)
(7,350)
(6,098)
Net income (loss)
(85,774)
(13,508)
44,770
(99,282)
(31,884)
Less: net income (loss) attributable to
non-controlling interests and
redeemable non-controlling interests
(8,915)
18,585
37,573
9,670
(5,110)
Net income (loss) attributable to
Canadian Solar Inc.
$ (76,859)
$ (32,093)
$ 7,197
$ (108,952)
$ (26,774)
Earnings (loss) per share – basic
$ (1.40)
$ (0.71)
$ (0.08)
$ (2.11)
$ (0.77)
Shares used in computation – basic
67,907,507
67,817,714
67,167,296
67,862,859
67,065,556
Earnings (loss) per share – diluted
$ (1.40)
$ (0.71)
$ (0.08)
$ (2.11)
$ (0.77)
Shares used in computation – diluted
67,907,507
67,817,714
67,167,296
67,862,859
67,065,556
Canadian Solar Inc.
Unaudited Condensed Consolidated Statement of Comprehensive Income (Loss)
(In Thousands of U.S. Dollars)
Three Months Ended
Six Months Ended
June 30,
March 31,
June 30,
June 30,
June 30,
2026
2026
2025
2026
2025
Net income (loss)
$ (85,774)
$ (13,508)
$ 44,770
$ (99,282)
$ (31,884)
Other comprehensive income
(loss), net of tax:
Foreign currency translation
adjustment
33,766
63,355
95,175
97,121
97,266
Gain on changes in fair value of
available-for-sale debt securities
—
—
865
—
361
Loss on commodity cash flow
hedges
(6,200)
—
—
(6,200)
—
Gain (loss) on interest rate swap
461
6,604
(8,148)
7,065
(11,229)
Share of gain (loss) on changes
in fair value of interest rate swap
of affiliate
241
22
(629)
263
(1,861)
Comprehensive income (loss)
(57,506)
56,473
132,033
(1,033)
52,653
Less: comprehensive income
(loss) attributable to non-
controlling interests and
redeemable non-controlling
interests
10,860
35,562
41,855
46,422
1,087
Comprehensive income (loss)
attributable to Canadian Solar
Inc.
$ (68,366)
$ 20,911
$ 90,178
$ (47,455)
$ 51,566
Canadian Solar Inc.
Unaudited Condensed Consolidated Balance Sheets
(In Thousands of U.S. Dollars)
June 30,
December 31,
2026
2025
ASSETS
Current assets:
Cash and cash equivalents
$ 1,461,248
$ 1,370,418
Restricted cash
374,655
541,705
Accounts receivable trade, net
908,875
829,957
Accounts receivable, unbilled
260,738
228,393
Amounts due from related parties
11,636
17,959
Inventories
1,656,236
1,133,539
Value added tax recoverable
269,386
252,251
Advances to suppliers, net
173,960
217,871
Derivative assets
5,255
15,002
Project assets
923,493
549,269
Prepaid expenses and other current assets
955,644
822,502
Total current assets
7,001,126
5,978,866
Restricted cash
14,453
28,312
Property, plant and equipment, net
3,554,386
3,376,035
Solar power and battery energy storage systems, net
Canadian Solar vykázala za čtvrtletí ztrátu 1,4 USD na akcii, vyšší než očekávaných 1,01 USD. Tržby ve výši 1,21 miliardy USD ale překonaly odhad o 3,62 %.
Canadian Solar (CSIQ - Free Report) came out with a quarterly loss of $1.4 per share versus the Zacks Consensus Estimate of a loss of $1.01. This compares to a loss of $0.53 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -38.61%. A quarter ago, it was expected that this solar wafers manufacturer would post a loss of $1.06 per share when it actually produced a loss of $0.71, delivering a surprise of +33.02%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Canadian Solar, which belongs to the Zacks Solar industry, posted revenues of $1.21 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 3.62%. This compares to year-ago revenues of $1.69 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.
Canadian Solar shares have lost about 41.7% since the beginning of the year versus the S&P 500's gain of 12.1%.
What's Next for Canadian Solar?While Canadian Solar 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 Canadian Solar 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 -$0.35 on $1.65 billion in revenues for the coming quarter and -$1.81 on $5.68 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, Solar 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.
FuelCell Energy (FCEL - Free Report) , another stock in the broader Zacks Oils-Energy sector, has yet to report results for the quarter ended July 2026. The results are expected to be released on September 2.
This fuel cell power plant maker is expected to post quarterly loss of $0.32 per share in its upcoming report, which represents a year-over-year change of +66.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
FuelCell Energy's revenues are expected to be $39.12 million, down 16.3% from the year-ago quarter.
Deutsche Bank AG ve 2. čtvrtletí koupila nový podíl v HubSpotu za zhruba 5,438 milionu USD. Firma zároveň oznámila výnosy 911,74 milionu USD a EPS 3,26 USD, nad odhady.
Deutsche Bank AG purchased a new stake in HubSpot, Inc. (NYSE:HUBS – Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 29,798 shares of the software maker’s stock, valued at approximately $5,438,000. Deutsche Bank AG owned approximately 0.06% of HubSpot at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the business. National Bank of Canada FI lifted its stake in HubSpot by 8.6% in the 3rd quarter. National Bank of Canada FI now owns 379 shares of the software maker’s stock valued at $177,000 after purchasing an additional 30 shares during the last quarter. Rakuten Securities Inc. lifted its holdings in shares of HubSpot by 783.3% during the 2nd quarter. Rakuten Securities Inc. now owns 53 shares of the software maker’s stock worth $30,000 after acquiring an additional 47 shares during the period. Orion Porfolio Solutions LLC boosted its stake in HubSpot by 2.9% in the second quarter. Orion Porfolio Solutions LLC now owns 1,784 shares of the software maker’s stock valued at $994,000 after buying an additional 51 shares in the last quarter. Elevation Point Wealth Partners LLC lifted its stake in shares of HubSpot by 3.3% in the 4th quarter. Elevation Point Wealth Partners LLC now owns 1,738 shares of the software maker’s stock valued at $697,000 after acquiring an additional 55 shares during the last quarter. Finally, Turning Point Benefit Group Inc. acquired a new stake in HubSpot during the 3rd quarter worth approximately $25,000. Institutional investors own 90.39% of the company’s stock.
HubSpot Price Performance NYSE HUBS opened at $243.85 on Tuesday. The business’s fifty day moving average price is $210.81 and its 200-day moving average price is $223.33. The stock has a market capitalization of $12.16 billion, a price-to-earnings ratio of 86.17, a PEG ratio of 2.46 and a beta of 1.19. HubSpot, Inc. has a 1-year low of $169.63 and a 1-year high of $525.51.
HubSpot (NYSE:HUBS – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The software maker reported $3.26 EPS for the quarter, beating the consensus estimate of $3.02 by $0.24. HubSpot had a net margin of 4.26% and a return on equity of 8.66%. The firm had revenue of $911.74 million for the quarter, compared to the consensus estimate of $898.31 million. During the same period last year, the firm earned $2.19 EPS. The company’s revenue was up 19.8% on a year-over-year basis. HubSpot has set its FY 2026 guidance at 13.230-13.310 EPS and its Q3 2026 guidance at 3.250-3.270 EPS. Equities research analysts anticipate that HubSpot, Inc. will post 4.54 EPS for the current year. Analyst Upgrades and Downgrades HUBS has been the subject of several recent analyst reports. Capital One Financial set a $206.00 price objective on shares of HubSpot and gave the stock an “equal weight” rating in a research report on Thursday, August 6th. Wolfe Research downgraded HubSpot from an “outperform” rating to a “peer perform” rating in a research note on Thursday, August 6th. William Blair cut shares of HubSpot from an “outperform” rating to a “market perform” rating in a research report on Friday, May 8th. Raymond James Financial reaffirmed an “outperform” rating and set a $250.00 price objective on shares of HubSpot in a research note on Friday, May 8th. Finally, BNP Paribas Exane cut HubSpot from an “outperform” rating to a “neutral” rating and set a $210.00 price objective for the company. in a report on Monday, May 11th. Fifteen research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, HubSpot currently has an average rating of “Hold” and an average target price of $268.90.
Check Out Our Latest Research Report on HUBS
Insider Activity In other news, Director Gerald Dischler bought 925 shares of the stock in a transaction dated Monday, August 10th. The stock was purchased at an average price of $215.93 per share, for a total transaction of $199,735.25. Following the acquisition, the director owned 1,940 shares of the company’s stock, valued at $418,904.20. The trade was a 91.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Erika Ashley Fisher sold 702 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $235.22, for a total transaction of $165,124.44. Following the completion of the transaction, the insider owned 14,581 shares in the company, valued at approximately $3,429,742.82. The trade was a 4.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 26,202 shares of company stock valued at $5,477,709. 3.70% of the stock is currently owned by insiders.
HubSpot Profile (Free Report)
HubSpot, Inc is a software company that develops a cloud-based customer relationship management (CRM) platform designed to help organizations attract, engage and delight customers. Its primary business activities center on providing integrated marketing, sales and customer service tools that support inbound marketing strategies, content management, lead nurturing, sales automation and customer support workflows.
The company’s product suite is organized around modular “hubs” built on a central CRM: Marketing Hub, Sales Hub, Service Hub, CMS Hub and Operations Hub.
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HubSpot ve 2. čtvrtletí zvýšil tržby ze předplatného o 20 % meziročně na 894 milionů USD. Růst táhlo více zákazníků i vyšší monetizace, přičemž výnosy ze předplatného na zákazníka stouply o 4 %.
Key Takeaways HubSpot's subscription revenues rose 20% year over year to $894 million in the second quarter.HUBS added customers and expanded monetization, with subscription revenue per customer up 4%.AI adoption and larger deals are supporting growth as customers increasingly use multiple Hubs. HubSpot, Inc. (HUBS - Free Report) is seeing growing user engagement in its customer relationship management platform, which is propelling subscription-based revenues. In the second quarter, Subscription revenues rose to $894 million, up 20% year over year. The figure surpassed the Zacks Consensus Estimate of $878.85 million.
Strong growth of its customer base is the main growth driver. The company had 306,446 customers at the end of June 2026, implying a 14% year-over-year increase. Improved monetization of existing customers is also supporting the top line. HubSpot’s average subscription revenue per customer rose 4% year over year to $11,800 in the second quarter.
The company continued to see customers opting for several HubSpot products instead of relying on a single Hub. In the second quarter, 64% of new Pro+ customers purchased multiple Hubs. It continued to gain traction with larger businesses. Large enterprise customers usually bring higher subscription values. The company reported that deals generating more than $120,000 in annual recurring revenue increased 38% year over year.
Growing customer engagement with HubSpot’s AI products is also driving net sales. More than 16,000 customers had activated Data Agent, nearly 17,000 had activated Prospecting Agent, and more than 10,000 had adopted Customer Agent by the end of the quarter. The company is also steadily expanding the range of capabilities customers can adopt within the platform. It has recently introduced products like Revenue Hub. Management stated upmarket demand for a unified AI-powered customer platform remains evident and expects platform consolidation and AI adoption to support the longer-term opportunity.
How are Competitors Faring?In the CRM space, HubSpot faces competition from Salesforce, Inc. (CRM - Free Report) , one of the world’s leading Customer Relationship Management companies. Salesforce continues to benefit as enterprises modernize customer-facing processes and reduce vendor sprawl. In the first quarter of fiscal 2027, subscription and support revenues increased 14% year over year to $10.6 billion, and the current remaining performance obligation grew 14%, signaling continued multi-year commitments. For fiscal 2027, Salesforce maintained subscription and support growth guidance of slightly under 12% year over year in nominal terms and about 11% in constant currency, which implies continued reliance on renewals and expansion within the installed base.
Microsoft Corporation (MSFT - Free Report) is also witnessing strong traction in the Productivity & Business Processes segment, which includes the Office and Dynamics CRM businesses. In the June quarter, revenues from Microsoft’s Dynamic 365 surged 13% year over year. The Dynamic 365 is powered by Microsoft Copilot, which facilitates the generation of engaging content, key insights and summarizes customer experience.
HUBS’ Price Performance, Valuation and EstimatesHubSpot has declined 50.3% over the past year compared to the industry’s decline of 13.4%.
Image Source: Zacks Investment Research
Going by the price/book ratio, the company's shares currently trade at 7.35 book value, higher than 4.57 of the industry average.
Image Source: Zacks Investment Research
HUBS’ earnings estimates for 2026 and 2027 have improved, over the past 60 days.
Image Source: Zacks Investment Research
HubSpot currently sports a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Bank of New York Mellon Corp ve 2. čtvrtletí získala nový podíl ve společnosti HubSpot: 252 978 akcií za zhruba 46,2 milionu USD. Podíl činil asi 0,49 % společnosti.
Bank of New York Mellon Corp acquired a new stake in HubSpot, Inc. (NYSE:HUBS – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 252,978 shares of the software maker’s stock, valued at approximately $46,171,000. Bank of New York Mellon Corp owned about 0.49% of HubSpot at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in HUBS. Empowered Funds LLC boosted its stake in HubSpot by 88.5% in the first quarter. Empowered Funds LLC now owns 1,570 shares of the software maker’s stock valued at $897,000 after buying an additional 737 shares in the last quarter. NewEdge Advisors LLC raised its stake in HubSpot by 12.1% during the second quarter. NewEdge Advisors LLC now owns 4,788 shares of the software maker’s stock worth $2,665,000 after acquiring an additional 516 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of HubSpot by 4.7% in the second quarter. Treasurer of the State of North Carolina now owns 23,754 shares of the software maker’s stock worth $13,222,000 after acquiring an additional 1,077 shares during the last quarter. Osterweis Capital Management Inc. bought a new position in shares of HubSpot in the second quarter worth about $34,000. Finally, Alliancebernstein L.P. boosted its stake in shares of HubSpot by 35.0% in the 2nd quarter. Alliancebernstein L.P. now owns 376,076 shares of the software maker’s stock valued at $209,335,000 after purchasing an additional 97,469 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In Several research analysts have recently issued reports on the stock. Wells Fargo & Company downgraded shares of HubSpot from an “overweight” rating to a “neutral” rating in a report on Thursday, August 6th. Zacks Research lowered HubSpot from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 12th. Wolfe Research cut HubSpot from an “outperform” rating to a “peer perform” rating in a report on Thursday, August 6th. Barclays dropped their target price on HubSpot from $270.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, August 6th. Finally, Oppenheimer lowered HubSpot from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 6th. Fifteen investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $268.90.
Read Our Latest Report on HubSpot HubSpot Stock Up 8.0% NYSE HUBS opened at $255.93 on Friday. The company has a market capitalization of $12.76 billion, a price-to-earnings ratio of 90.44, a PEG ratio of 2.57 and a beta of 1.19. HubSpot, Inc. has a twelve month low of $169.63 and a twelve month high of $525.51. The stock has a fifty day simple moving average of $214.72 and a 200 day simple moving average of $223.55.
HubSpot (NYSE:HUBS – Get Free Report) last announced its earnings results on Wednesday, August 5th. The software maker reported $3.26 EPS for the quarter, topping the consensus estimate of $3.02 by $0.24. The firm had revenue of $911.74 million for the quarter, compared to the consensus estimate of $898.31 million. HubSpot had a return on equity of 8.66% and a net margin of 4.26%.The business’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.19 EPS. HubSpot has set its FY 2026 guidance at 13.230-13.310 EPS and its Q3 2026 guidance at 3.250-3.270 EPS. Research analysts expect that HubSpot, Inc. will post 4.54 earnings per share for the current fiscal year.
Insiders Place Their Bets In other news, Director Brian Halligan sold 8,500 shares of the company’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $221.09, for a total value of $1,879,265.00. Following the sale, the director directly owned 85,000 shares of the company’s stock, valued at approximately $18,792,650. This represents a 9.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gerald Dischler acquired 925 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were purchased at an average price of $215.93 per share, with a total value of $199,735.25. Following the completion of the transaction, the director owned 1,940 shares of the company’s stock, valued at $418,904.20. This trade represents a 91.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders sold 26,202 shares of company stock worth $5,477,709. 3.70% of the stock is currently owned by insiders.
HubSpot Company Profile (Free Report)
HubSpot, Inc is a software company that develops a cloud-based customer relationship management (CRM) platform designed to help organizations attract, engage and delight customers. Its primary business activities center on providing integrated marketing, sales and customer service tools that support inbound marketing strategies, content management, lead nurturing, sales automation and customer support workflows.
The company’s product suite is organized around modular “hubs” built on a central CRM: Marketing Hub, Sales Hub, Service Hub, CMS Hub and Operations Hub.
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BlackRock ve 2. čtvrtletí nakoupil novou pozici v Bath & Body Works: 19 414 831 akcií za zhruba 449,1 mil. USD. Podle posledního podání drží asi 9,63 % společnosti.
BlackRock Inc. bought a new position in Bath & Body Works, Inc. (NYSE:BBWI – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 19,414,831 shares of the company’s stock, valued at approximately $449,065,000. BlackRock Inc. owned approximately 9.63% of Bath & Body Works as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in Bath & Body Works by 92.8% during the first quarter. Royal Bank of Canada now owns 59,877 shares of the company’s stock valued at $1,815,000 after purchasing an additional 28,815 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Bath & Body Works by 15.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 645,970 shares of the company’s stock worth $19,586,000 after buying an additional 87,529 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Bath & Body Works by 7.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 562,757 shares of the company’s stock worth $17,063,000 after buying an additional 36,684 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Bath & Body Works during the 1st quarter valued at about $1,155,000. Finally, Geneos Wealth Management Inc. raised its position in shares of Bath & Body Works by 217.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,169 shares of the company’s stock valued at $35,000 after buying an additional 801 shares in the last quarter. 95.14% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In Several research analysts recently commented on the company. Weiss Ratings upgraded Bath & Body Works from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 9th. Barclays decreased their price objective on Bath & Body Works from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 28th. TD Cowen raised their price objective on Bath & Body Works from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Telsey Advisory Group dropped their target price on Bath & Body Works from $25.00 to $22.00 and set a “market perform” rating for the company in a report on Thursday, May 28th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $22.00 target price on shares of Bath & Body Works in a research report on Monday, July 6th. Four investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $22.57.
View Our Latest Report on Bath & Body Works Bath & Body Works Price Performance Shares of BBWI opened at $19.16 on Tuesday. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 5.38, a PEG ratio of 1.92 and a beta of 1.38. Bath & Body Works, Inc. has a 1-year low of $14.27 and a 1-year high of $32.32. The company has a 50-day moving average of $20.46 and a 200 day moving average of $20.06.
Bath & Body Works (NYSE:BBWI – Get Free Report) last issued its earnings results on Wednesday, May 27th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. Bath & Body Works had a net margin of 10.03% and a negative return on equity of 45.34%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 EPS. Bath & Body Works has set its Q2 2026 guidance at 0.300-0.300 EPS and its FY 2026 guidance at 2.400-2.650 EPS. On average, equities analysts anticipate that Bath & Body Works, Inc. will post 2.63 earnings per share for the current fiscal year.
Bath & Body Works Announces Dividend The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Friday, August 21st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Friday, August 21st. Bath & Body Works’s payout ratio is presently 22.47%.
Bath & Body Works Company Profile (Free Report)
Bath & Body Works, Inc is a leading specialty retailer focused on personal care, home fragrance and complementary products. Through its flagship Bath & Body Works brand, the company offers a diverse assortment of shower gels, lotions, fragrance mists, candles and home fragrance items. Its product portfolio also includes the White Barn Candle Co range of premium scented candles and diffusers. Bath & Body Works serves consumers through a combination of brick-and-mortar stores and e-commerce platforms, delivering seasonal collections, limited-edition releases and signature scent lines.
Founded in 1990 as part of Limited Brands (now L Brands), Bath & Body Works opened its first store in New Albany, Ohio, and quickly expanded across the United States.
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Bath & Body Works, Inc. (NYSE:BBWI) will release its second earnings report before the opening bell on Wednesday, Aug. 26.
Analysts expect the Columbus, Ohio-based company to report quarterly earnings of 24 cents per share, down from 37 cents per share in the year-ago period. The consensus estimate for BBWI’s quarterly revenue is $1.50 billion. It reported $1.55 billion last year, according to Benzinga Pro.
On Aug. 7, Bath & Body Works announced the declaration of its regular quarterly dividend of 20 cents per share.
Bath & Body Works shares fell 8.3% to close at $17.58 on Tuesday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.
JP Morgan analyst Matthew Boss maintained a Neutral rating and boosted the price target from $22 to $24 on Aug. 18, 2026. This analyst has an accuracy rate of 68%. Citigroup analyst Paul Lejuez upgraded the stock from Neutral to Buy with a price target of $25 on Aug. 18, 2026. This analyst has an accuracy rate of 64%. Goldman Sachs analyst Kate McShane downgraded the stock from Neutral to Sell and cut the price target from $23 to $19 on July 8, 2026. This analyst has an accuracy rate of 69%. Morgan Stanley analyst Alex Straton maintained an Equal-Weight rating with a price target of $22 on July 6, 2026. This analyst has an accuracy rate of 62%. Wells Fargo analyst Ike Boruchow maintained an Overweight rating and increased the price target from $25 to $26 on June 23, 2026. This analyst has an accuracy rate of 72%. Trending
Considering buying BBWI stock? Here’s what analysts think:
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Bath & Body Works ve 2. čtvrtletí překonala odhady tržeb i zisku na akcii a zvýšila celoroční výhled EPS na 3,13 až 3,33 USD. Tržby klesly o 2,3 % na 1,514 mld. USD.
Delivers Q2 net sales and adjusted earnings per share results above guidanceSecond quarter net sales of $1.5 billion, down 2.3%. Earnings per diluted share of $0.58; Adjusted earnings per diluted share of $0.62Delivered growth in Direct net sales, supported by ongoing enhancements to the digital experience over the past year Raises full-year 2026 earnings per diluted share guidance to $3.13 to $3.33; adjusted earnings per diluted share guidance to $2.60 to $2.80 and narrows net sales guidance to a decline between 4% to 2.5% COLUMBUS, Ohio, Aug. 26, 2026 (GLOBE NEWSWIRE) -- Bath & Body Works, Inc. (NYSE: BBWI) today reported second quarter 2026 results.
Daniel Heaf, chief executive officer of Bath & Body Works, commented, “Our second-quarter results exceeded our sales and earnings per share guidance. Underlying business trends remain pressured, but we are seeing further evidence that elements of the Consumer First Formula are beginning to work. We delivered sequential improvement in Body Care, stronger AUR on new product innovation, improved brand discoverability, and continued momentum across our marketplace partnerships.”
“Additionally, this quarter marks the first direct net sales growth since 2021. The investments we've made over the past year are strengthening the customer proposition through a more seamless and engaging shopping experience, and these improvements are resonating with consumers.”
Heaf, continued, “These proof points strengthen our confidence in the strategy, but we remain in the early stages of the transformation. Our priority remains improving the trajectory of the business while continuing to build the product, brand and marketplace capabilities that we believe will position Bath & Body Works for sustainable, durable growth in 2027.”
Second Quarter 2026 Results
The company reported net sales of $1,514 million for the quarter ended August 1, 2026, a decrease of 2.3% compared to net sales of $1,549 million for the quarter ended August 2, 2025.
Earnings per diluted share were $0.58 for the second quarter of 2026 compared to $0.30 last year. Second quarter operating income was $216 million compared to $157 million last year, and net income was $118 million compared to $64 million last year.
Reported second quarter 2026 results included aggregate pre-tax costs of $9 million ($7 million after tax) associated with business transformation activities. Excluding this item, adjusted earnings per diluted share was $0.62, adjusted operating income was $225 million and adjusted net income was $125 million.
Reported second quarter 2025 results included pre-tax costs of $15 million ($14 million after-tax) associated with the transition of certain members of the leadership team. Excluding this item, adjusted earnings per diluted share was $0.37, adjusted operating income was $172 million and adjusted net income was $78 million.
Reported and adjusted second quarter 2026 results included approximately $80 million of tariff refunds received in the quarter. Excluding the refund benefit, second quarter 2026 adjusted earnings per diluted share would have been $0.31.
At the conclusion of this press release is a reconciliation of reported‐to‐adjusted results, including a description of the adjusted items.
2026 Guidance
The company is narrowing its full-year 2026 guidance of net sales to decline between 4% to 2.5% compared to $7,291 million in fiscal 2025. The company is also raising its full-year 2026 earnings per diluted share guidance to between $3.13 and $3.33 compared to $3.11 in fiscal 2025 and full-year 2026 adjusted earnings per diluted share guidance to between $2.60 and $2.80, compared to adjusted earnings per diluted share of $3.21 in 2025. There are no share repurchases assumed in our outlook. In fiscal 2026, we now expect to generate free cash flow of approximately $650 million.
For the third quarter of 2026, the company is forecasting net sales to decline between 5% to 2.5% compared to $1,594 million in the third quarter of 2025. Third quarter 2026 earnings per diluted share is expected to be between $0.05 and $0.10, compared to earnings per diluted share of $0.37 in the third quarter of 2025 and third quarter 2026 adjusted earnings per diluted share is expected to be between $0.07 and $0.12 compared to adjusted earnings per diluted share of $0.35 in the third quarter of 2025.
At the conclusion of this press release is a reconciliation of our guidance-to-adjusted guidance, including a description of the adjusted items.
For a reconciliation of our reported GAAP to adjusted non-GAAP earnings per diluted share for fiscal 2025 and the third quarter of 2025, refer to our Annual Report on Form 10-K, filed with the SEC on March 12, 2026, and our Quarterly Report on Form 10-Q, filed with the SEC on November 20, 2025, respectively.
Earnings Call and Additional Information
Bath & Body Works, Inc. will conduct its second quarter earnings call at 8:30 a.m. ET on August 26th. To listen, call 877-407-9219 (international dial-in number: 412-652-1274). For an audio replay, call 877-660-6853 (international replay number: 201-612-7415); access code 13761942 or log onto www.BBWInc.com. A slide presentation has been posted on the company’s Investor Relations website that summarizes certain information in the company‘s prepared remarks from the earnings call as well as some additional facts and figures regarding the company’s operating performance and guidance.
ABOUT BATH & BODY WORKS
Bath & Body Works is a global leader in personal care and home fragrance, driven by the belief that everybody deserves to feel good.
The brand’s beloved and iconic scents are expertly crafted for exceptional performance and a luxury fragrance experience. Formulated with thoughtfully chosen ingredients, Bath & Body Works’ body care products are available in multiple forms including fine fragrance mist, body cream, lotion, eau de parfum, body wash, hand soap, sanitizer and more. The brand’s famous 3-wick candles are made with rich, high-quality fragrance oils layered throughout a premium soy wax base, for up to 45 hours of room-filling fragrance.
Consumers can shop Bath & Body Works anytime and anywhere they choose, from welcoming, in-store experiences at more than 1,900 stores in the U.S. and Canada, 550-plus international locations and select Ulta Beauty stores. Online, consumers can visit bathandbodyworks.com, Amazon and Ulta.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
We caution that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this press release or made by our Company or our management involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Accordingly, our future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Words such as “estimate,” “project,” “plan,” “believe,” “expect,” “anticipate,” “intend,” “potential,” “target,” “goal” and any similar expressions may identify forward-looking statements. There are risks, uncertainties and other factors that in some cases have affected and, in the future, could affect our financial performance and actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements included in this report or otherwise made by the Company or our management. These factors can be found in Item 1A. Risk Factors in our 2025 Annual Report on Form 10-K and our subsequent filings.
We are not under any obligation and do not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this press release to reflect circumstances existing after the date of this press release or to reflect the occurrence of future events even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized.
We announce material financial and operational information using our investor relations website, press releases, SEC filings and public conference calls and webcasts. Information about the Company, our business and our results of operations may also be announced by posts on our accounts on social media channels, including the following: Facebook, Instagram, X, LinkedIn, Pinterest, TikTok and YouTube. The information that we post through these social media channels and on our website may be deemed material. As a result, we encourage investors, the media and others interested in the Company to monitor these social media channels in addition to following our investor relations website, press releases, SEC filings and public conference calls and webcasts. The list of social media channels we use may be updated from time to time on our investor relations website.
BATH & BODY WORKS, INC.
Second Quarter 2026Total Sales (In millions): Second Quarter Year-to-Date 2026 2025 % Change 2026 2025 % ChangeStores - U.S. and Canada (a) $1,131 $1,196 (5.4%) $2,194 $2,307 (4.9%)Direct - U.S. and Canada 275 267 3.0% 521 517 0.8%International and Other (b) 108 86 24.9% 177 150 18.1%Total Bath & Body Works $1,514 $1,549 (2.3%) $2,892 $2,974 (2.7%)________________
(a) Results include fulfilled buy online pick up in store orders.
(b) Results include royalties associated with franchised stores, as well as international and domestic wholesale sales. Total Company-operated Stores:
Stores
Stores
1/31/2026
Opened
Closed 8/1/2026
United States 1,814 36 (27) 1,823 Canada 113 1 — 114 Total Bath & Body Works 1,927 37 (27) 1,937 Total Partner-operated Stores:
Stores
Stores
1/31/2026
Opened
Closed 8/1/2026
International 536 25 (2) 559 International - Travel Retail 37 — — 37 Total International (a) 573 25 (2) 596 ________________
(a) Includes store locations only and does not include kiosks, shop-in-shops, gondola or beauty counter locations. BATH & BODY WORKS, INC.CONSOLIDATED STATEMENTS OF INCOME(Unaudited)(In millions, except per share amounts) Second Quarter Year-to-Date 2026 2025 2026 2025 Net Sales $1,514 $1,549 $2,892 $2,974 Costs of Goods Sold, Buying and Occupancy (822) (909) (1,613) (1,687)Gross Profit 692 640 1,279 1,287 General, Administrative and Store Operating Expenses (476) (483) (832) (920)Operating Income 216 157 447 367 Interest Expense (63) (68) (132) (139)Other Income, Net 11 6 15 13 Income Before Income Taxes 164 95 330 241 Provision for Income Taxes (46) (31) (29) (72)Net Income $118 $64 $301 $169 Net Income per Diluted Share $0.58 $0.30 $1.49 $0.79 Weighted Average Diluted Shares Outstanding 202 211 202 213 BATH & BODY WORKS, INC.
CONSOLIDATED CONDENSED BALANCE SHEETS
(Unaudited)
(In millions) August 1,
2026 August 2,
2025ASSETS Current Assets: Cash and Cash Equivalents $794 $364 Accounts Receivable, Net 154 131 Inventories 883 977 Easton Assets Held for Sale 81 81 Other 138 153 Total Current Assets 2,050 1,706 Property and Equipment, Net 1,106 1,124 Operating Lease Assets 1,012 984 Goodwill 628 628 Trade Name 165 165 Deferred Income Taxes 108 133 Other Assets 87 74 Total Assets $5,156 $4,814 LIABILITIES AND EQUITY (DEFICIT) Current Liabilities: Accounts Payable $676 $567 Accrued Expenses and Other 556 541 Current Debt 248 — Current Operating Lease Liabilities 199 194 Income Taxes 28 1 Total Current Liabilities 1,707 1,303 Deferred Income Taxes 115 23 Long-term Debt 3,366 3,888 Long-term Operating Lease Liabilities 931 912 Other Long-term Liabilities 91 235 Total Equity (Deficit) (1,054) (1,547)Total Liabilities and Equity (Deficit) $5,156 $4,814 BATH & BODY WORKS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(In millions) Year-to-Date 2026 2025 Operating Activities: Net Income $301 $169 Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Depreciation of Long-lived Assets 120 128 Share-based Compensation Expense 10 18 Loss on Extinguishment of Debt 8 — Tax Benefit from Resolution of Certain Tax Matters (62) — Changes in Assets and Liabilities: Accounts Receivable 26 75 Inventories (185) (241)Accounts Payable, Accrued Expenses and Other 191 157 Income Taxes Payable (56) (139)Other Assets and Liabilities (37) (22)Net Cash Provided by Operating Activities 316 145 Investing Activities: Capital Expenditures (98) (93)Proceeds from Sale of Non-core Asset 8 — Other Investing Activities 1 (2)Net Cash Used for Investing Activities (89) (95) Financing Activities: Payments for Long-term Debt (289) — Repurchases of Common Stock — (254)Dividends Paid (80) (85)Other Financing Activities (15) (23)Net Cash Used for Financing Activities (384) (362) Effects of Exchange Rate Changes on Cash and Cash Equivalents (2) 2 Net Decrease in Cash and Cash Equivalents (159) (310)Cash and Cash Equivalents, Beginning of Year 953 674 Cash and Cash Equivalents, End of Period $794 $364 BATH & BODY WORKS, INC.ADJUSTED FINANCIAL INFORMATION(Unaudited)(Dollars in millions, except per share amounts) Second Quarter Year-to-Date 2026 2025 2026 2025 Reconciliation of Reported Operating Income to Adjusted Operating IncomeReported Operating Income $216 $157 $447 $367 Interchange Fee Settlements — — (88) — Business Transformation Activities 9 — 17 — Leadership Transition Costs — 15 — 15 Adjusted Operating Income $225 $172 $376 $382 Reconciliation of Reported Net Income to Adjusted Net IncomeReported Net Income $118 $64 $301 $169 Interchange Fee Settlements — — (88) — Business Transformation Activities 9 — 17 — Leadership Transition Costs — 15 — 15 Loss on Extinguishment of Debt — — 8 — Gain on Sale of Non-core Asset — — (3) — Tax Effect of Adjustments (2) (1) 17 (1)Tax Benefit from Resolution of Certain Tax Matters — — (62) — Adjusted Net Income $125 $78 $190 $183 Reconciliation of Reported Net Income per Diluted Share to Adjusted Net Income per Diluted ShareReported Net Income per Diluted Share $0.58 $0.30 $1.49 $0.79 Interchange Fee Settlements — — (0.43) — Business Transformation Activities 0.05 — 0.09 — Leadership Transition Costs — 0.07 — 0.07 Loss on Extinguishment of Debt — — 0.04 — Gain on Sale of Non-core Asset — — (0.02) — Tax Effect of Adjustments (0.01) (0.01) 0.08 (0.01)Tax Benefit from Resolution of Certain Tax Matters — — (0.31) — Adjusted Net Income per Diluted Share $0.62 $0.37 $0.94 $0.86
See Notes to Adjusted Financial Information. BATH & BODY WORKS, INC.FORECASTED ADJUSTED FINANCIAL INFORMATION(Unaudited)(In millions, except per share amounts) Third Quarter Full-Year 2026 2026 Reconciliation of Forecasted Net Income Per Diluted Share to Forecasted Adjusted Net Income per Diluted Share Low High Low HighForecasted Net Income per Diluted Share $0.05 $0.10 $3.13 $3.33 Interchange Fee Settlements — — (0.43) (0.43)Business Transformation Activities — — 0.09 0.09 Loss on Extinguishment of Debt 0.03 0.03 0.07 0.07 Gain on Sale of Non-core Asset — — (0.02) (0.02)Tax Effect of Adjustments (0.01) (0.01) 0.07 0.07 Tax Benefit from Resolution of Certain Tax Matters — — (0.31) (0.31)Forecasted Adjusted Net Income Per Diluted Share $0.07 $0.12 $2.60 $2.80 Full-YearReconciliation of Forecasted Net Cash Provided by Operating Activities to Forecasted Free Cash Flow 2026 Forecasted Net Cash Provided by Operating Activities $890 Forecasted Capital Expenditures (240)Forecasted Free Cash Flow $650
See Notes to Adjusted Financial Information. BATH & BODY WORKS, INC.
NOTES TO ADJUSTED FINANCIAL INFORMATION
(Unaudited)
The adjusted financial information should not be construed as an alternative to the results determined in accordance with generally accepted accounting principles. Further, the company’s definitions of adjusted income information may differ from similarly titled measures used by other companies. Management believes that the presentation of adjusted financial information provides additional information to investors to facilitate the comparison of past and present operations. While it is not possible to predict future results, management believes the adjusted financial information is useful for the assessment of the operations of the company because the adjusted items are not indicative of the company’s ongoing operations due to their size and nature. Additionally, management uses adjusted financial information as key performance measures for the purpose of evaluating performance internally. The adjusted financial information should be read in conjunction with the company’s historical financial statements and notes thereto contained in the company’s Quarterly Reports on Form 10-Q and Annual Report on Form 10-K.
The “Adjusted Financial Information” provided in the attached reflects the following non-GAAP financial measures:
Fiscal 2026
In the second quarter of 2026, adjusted results exclude the following:
Aggregate pre-tax costs of $9 million ($7 million after tax), included in General, Administrative and Store Operating Expenses, resulting from business transformation activities in connection with the Consumer First Formula; In the first quarter of 2026, adjusted results exclude the following:
An $88 million pre-tax gain ($66 million after tax), included as a reduction to General, Administrative and Store Operating Expenses, related to cash proceeds received, net of legal fees, for favorable settlements of payment card interchange fee litigation;Aggregate pre-tax costs of $8 million ($6 million after tax), primarily included in General, Administrative and Store Operating Expenses, resulting from business transformation activities in connection with the Consumer First Formula;An $8 million pre-tax loss ($6 million after tax), included in Other Income, Net, related to the repurchase and early extinguishment of outstanding debt;A $3 million pre-tax gain ($3 million after tax), included in Other Income, Net, related to the sale of a non-core asset; andA $62 million tax benefit associated with the resolution of certain tax matters. The “Forecasted Adjusted Financial Information” provided in the attached reflects the adjusted items referenced above, as well as a $5 million pre-tax loss ($4 million after tax) which will be included in Other Income, Net, related to the repurchase and early extinguishment of outstanding debt completed on August 19, 2026.
Fiscal 2025
In the second quarter of 2025, adjusted results exclude the following:
Aggregate pre-tax costs of $15 million ($14 million net of tax of $1 million), included in general, administrative and store operating expenses, due to the transition of certain members of the leadership team, primarily related to severance benefits. There were no adjustments to results in the first quarter of 2025.
Forecasted Free Cash Flow
Our Forecasted Free Cash Flow is defined as Forecasted Net Cash Provided by Operating Activities less our Forecasted Capital Expenditures. Our Forecasted Free Cash Flow is a non-GAAP financial measure which we believe is useful to analyze our anticipated ability to generate cash. Our Forecasted Free Cash Flow calculation may not be comparable to similarly-titled measures reported by other companies. Our Forecasted Free Cash Flow should be evaluated in addition to, and not considered a substitute for, other GAAP financial measures.
Bath & Body Works zvýšila celoroční výhled upraveného zisku na 2,60 až 2,80 USD na akcii díky poptávce v digitálních kanálech a tarifním refundacím. Slabá návštěvnost obchodů ale dál tlačí na tržby.
Bath & Body Works (BBWI.N) forecast a wider-than-expected decline in current-quarter sales on Wednesday, as the personal care brand struggles through weak store traffic in the early stages of a turnaround.
The company raised its annual profit target helped by tariff refunds as well as demand its in digital channels.
Shares of the company fell about 4% in premarket trading.
Like many consumer companies, Bath & Body Works is in the midst of a turnaround focused on product innovation and enhancing its digital platform under CEO Daniel Heaf.
"The progress (in its turnaround efforts), because it's early, has yet to offset the changes in the whole business," CEO Heaf told Reuters, adding that the company is seeing a decline in store traffic and a broader weakness in mall traffic.
Bath & Body Works has been expanding its distribution beyond its own stores through third-party channels, including Amazon and a partnership with Ulta Beauty to draw affluent younger consumers.
Cosmetics maker Coty (COTY.N) last week forecast current-quarter earnings below expectations, as consumers become more selective in their spending and higher oil prices also weigh.
It forecast a drop in third-quarter net sales of between 2.5% and 5%, compared to estimates of a 2.9% drop.
It sees Q3 adjusted EPS between 7 cents and 12 cents, while analysts expect 26 cents.
Bath & Body Works expects annual adjusted profit between $2.60 and $2.80 per share, compared with its prior forecast of $2.40 to $2.65 per share.
It benefited from about $80 million in tariff refunds during the second quarter.
Excluding that benefit, the company's earnings per share stood at 31 cents. Analysts estimated a profit of 24 cents per share.
Bath & Body Works posted second-quarter sales of $1.51 billion, edging past analysts' estimate of $1.50 billion, according to data compiled by LSEG.
Bath & Body Works (BBWI - Free Report) came out with quarterly earnings of $0.62 per share, beating the Zacks Consensus Estimate of $0.24 per share. This compares to earnings of $0.37 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +158.33%. A quarter ago, it was expected that this owner of Victoria's Secret, Bath & Body Works and other chain stores would post earnings of $0.29 per share when it actually produced earnings of $0.32, delivering a surprise of +10.34%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Bath & Body Works, which belongs to the Zacks Retail - Miscellaneous industry, posted revenues of $1.51 billion for the quarter ended July 2026, surpassing the Zacks Consensus Estimate by 1.03%. This compares to year-ago revenues of $1.55 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.
Bath & Body Works shares have lost about 12.5% since the beginning of the year versus the S&P 500's gain of 12.2%.
What's Next for Bath & Body Works?While Bath & Body Works 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 Bath & Body Works 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 $0.27 on $1.56 billion in revenues for the coming quarter and $2.63 on $7.11 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, Retail - Miscellaneous is currently in the bottom 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.
Ulta Beauty (ULTA - Free Report) , another stock in the same industry, has yet to report results for the quarter ended July 2026. The results are expected to be released on August 27.
This beauty products retailer is expected to post quarterly earnings of $6.20 per share in its upcoming report, which represents a year-over-year change of +7.3%. The consensus EPS estimate for the quarter has been revised 0.8% lower over the last 30 days to the current level.
Ulta Beauty's revenues are expected to be $2.97 billion, up 6.5% from the year-ago quarter.
U Bath & Body Works se v úterý zobchodovalo 23 399 put opcí, asi o 550 % více než je denní průměr. To naznačuje výrazně silné zajištění proti poklesu akcií BBWI.
Bath & Body Works, Inc. (NYSE:BBWI – Get Free Report) was the target of unusually large options trading on Tuesday. Stock investors bought 23,399 put options on the stock. This represents an increase of approximately 550% compared to the average daily volume of 3,601 put options.
Wall Street Analysts Forecast Growth BBWI has been the topic of several analyst reports. Citigroup upgraded Bath & Body Works from a “neutral” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Tuesday, August 18th. Weiss Ratings raised shares of Bath & Body Works from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. upped their target price on shares of Bath & Body Works from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, August 18th. Telsey Advisory Group lowered their target price on shares of Bath & Body Works from $25.00 to $22.00 and set a “market perform” rating on the stock in a research note on Thursday, May 28th. Finally, Raymond James Financial reissued a “market perform” rating on shares of Bath & Body Works in a report on Wednesday, May 27th. Four equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $22.57.
Read Our Latest Analysis on BBWI
Hedge Funds Weigh In On Bath & Body Works Large investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC purchased a new position in shares of Bath & Body Works in the fourth quarter worth about $31,000. Activest Wealth Management bought a new position in Bath & Body Works in the 4th quarter worth $32,000. Geneos Wealth Management Inc. raised its stake in Bath & Body Works by 217.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,169 shares of the company’s stock worth $35,000 after buying an additional 801 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Bath & Body Works by 42.6% in the 4th quarter. Parallel Advisors LLC now owns 1,897 shares of the company’s stock valued at $38,000 after purchasing an additional 567 shares during the period. Finally, Danske Bank A S purchased a new position in Bath & Body Works during the third quarter valued at $39,000. Hedge funds and other institutional investors own 95.14% of the company’s stock. Bath & Body Works News Summary Here are the key news stories impacting Bath & Body Works this week:
Positive Sentiment: Bath & Body Works reported second-quarter adjusted EPS of $0.62, well above the $0.24 analyst consensus, while revenue of $1.51 billion slightly exceeded expectations. Bath & Body Works Q2 Earnings and Revenues Surpass Estimates Positive Sentiment: Management raised fiscal 2026 adjusted EPS guidance to $2.60-$2.80, above its previous range of $2.40-$2.65 and ahead of the roughly $2.56 consensus. The company also reiterated revenue expectations of approximately $7.5-$7.6 billion. Bath & Body Works Raises Earnings Outlook on Higher Profit Positive Sentiment: Digital demand and direct-channel sales growth are offsetting weaker physical-store traffic. Management also highlighted ongoing transformation initiatives, including planned cost savings, stronger cash flow and potential balance-sheet improvement that could support future shareholder returns. Bath & Body Works lifts annual profit forecast Neutral Sentiment: The earnings call and bullish commentary frame BBWI as a discounted turnaround opportunity, but investors will likely require sustained sales growth and execution before assigning a higher valuation. Negative Sentiment: Second-quarter net sales declined 2.3% year over year, and third-quarter adjusted EPS guidance of only $0.07-$0.12 is substantially below the approximately $0.27 consensus. The outlook reflects continued near-term pressure from store traffic and seasonality. Bath & Body Works falls despite earnings beat Negative Sentiment: Heavy put-option activity ahead of the report signaled elevated bearish hedging and helps explain the stock’s volatility despite the earnings beat. Bath & Body Works Trading Up 7.6% Shares of BBWI opened at $18.92 on Thursday. Bath & Body Works has a 12-month low of $14.27 and a 12-month high of $32.32. The company has a market cap of $3.81 billion, a PE ratio of 5.31, a price-to-earnings-growth ratio of 1.73 and a beta of 1.38. The stock has a 50-day moving average price of $20.36 and a 200-day moving average price of $20.01.
Bath & Body Works (NYSE:BBWI – Get Free Report) last posted its quarterly earnings data on Wednesday, August 26th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.38. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Bath & Body Works had a net margin of 10.03% and a negative return on equity of 45.34%. Bath & Body Works’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 earnings per share. Bath & Body Works has set its Q3 2026 guidance at 0.070-0.120 EPS and its FY 2026 guidance at 2.600-2.800 EPS. As a group, analysts predict that Bath & Body Works will post 2.63 earnings per share for the current year.
Bath & Body Works Announces Dividend The business also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 21st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.2%. Bath & Body Works’s dividend payout ratio is presently 22.47%.
(Get Free Report)
Bath & Body Works, Inc is a leading specialty retailer focused on personal care, home fragrance and complementary products. Through its flagship Bath & Body Works brand, the company offers a diverse assortment of shower gels, lotions, fragrance mists, candles and home fragrance items. Its product portfolio also includes the White Barn Candle Co range of premium scented candles and diffusers. Bath & Body Works serves consumers through a combination of brick-and-mortar stores and e-commerce platforms, delivering seasonal collections, limited-edition releases and signature scent lines.
Founded in 1990 as part of Limited Brands (now L Brands), Bath & Body Works opened its first store in New Albany, Ohio, and quickly expanded across the United States.
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Enbridge uzavřela s KKR a Apollo společný podnik na investici asi C$2,7 miliardy do rozšíření plynovodu Westcoast v Britské Kolumbii. Enbridge získá C$700 milionů v hotovosti a ponechá si většinový podíl i provozní kontrolu.
Canadian energy company Enbridge (ENB.TO) said on Thursday it had agreed to form a joint venture with KKR (KKR.N) and Apollo to invest about C$2.7 billion ($1.95 billion) in expansions of its Westcoast natural gas pipeline system in British Columbia.
Asset managers are increasingly investing in generation and pipeline assets as demand for natural gas infrastructure grows rapidly amid rising LNG exports and the proliferation of data centers.
Demand for natural gas infrastructure in Western Canada and the U.S. Pacific Northwest is also growing, with Enbridge's Westcoast system providing a route to international LNG markets.
Under the agreement, KKR and Apollo will fund the Aspen Point and Sunrise expansion projects, while Enbridge will receive C$700 million in cash at closing and retain majority ownership and operational control of the pipeline.
The Westcoast natural gas pipeline system stretches 2,900 kilometers (1,802 miles) from northeast British Columbia to the Canada-U.S. border, with a current capacity of 3.6 billion cubic feet of natural gas per day (Bcf/d).
The Aspen expansion project is expected to add 535 million cubic feet per day (mmcf/d) of new transportation capacity after entering service in 2026.
Meanwhile, the Sunrise expansion project is expected to add 300 mmcf/d of natural gas capacity in B.C. and enter service in late 2028, following which, the total capacity of the Westcoast system will rise to 3.9 Bcf/d.
Both the expansion projects already have regulatory approval and are commercially underpinned by long-term take-or-pay contracts.
Enbridge said it has the option to repurchase the investors' interest in the joint venture at any time between the seventh and 14th year following close.
NEW YORK, Aug. 27, 2026 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) and KKR (NYSE: KKR) today announced a strategic partnership to support the continued growth of Atlantic Aviation (the “Company”), one of the largest private aviation infrastructure platforms in the United States. Under the transaction, Apollo-managed funds (the “Apollo Funds”) have acquired a significant interest in the Company, while KKR-managed funds remain a substantial shareholder. The transaction values Atlantic Aviation at nearly $10 billion.
Atlantic Aviation is one of the leading providers of fixed-base operator (“FBO”) services in the United States, with locations across the country serving corporate and general aviation customers. The Company provides mission-critical infrastructure including aircraft fueling, hangar leasing and other essential aviation services, supported by long-term airport concession agreements and a highly diversified footprint across high-activity airfields.
Apollo Partner David Cohen said, “Atlantic has built an irreplicable infrastructure footprint across the nation’s busiest airports, underpinned by long-term concession agreements and a customer base that values reliability and service above all else. The private aviation market has structural tailwinds that we believe will persist, and Atlantic is well positioned to capture that growth. We look forward to working closely with Jeff, the entire Atlantic team and KKR to build on its momentum through targeted investment and strategic new market expansion.”
KKR Partner Dash Lane said, “Atlantic Aviation exemplifies the kind of scaled, essential infrastructure platform we seek to build in our portfolio. Over the past five years, we have worked closely with Jeff and the team to expand and strengthen the business, and we believe there is meaningful opportunity ahead. Our continued support of the company reflects our conviction in both the strength of the platform and the long-term growth of the sector, and we are pleased to welcome the Apollo Funds as new investors in the Company.”
Since KKR's acquisition in 2021, Atlantic has meaningfully expanded its locations through strategic acquisitions and organic growth throughout the United States and certain international locations, while enhancing its customer offerings and operational capabilities. KKR has also supported significant investment in employee health and safety, resulting in Atlantic having one of the best safety records in the industry.
“This transaction is more than a milestone for Atlantic – it is a powerful validation of what our people have built together. To have two of the world’s most respected investment firms choose to invest in our company is an extraordinary endorsement of our people, our performance, and our potential. We are incredibly proud of what we have accomplished, and even more excited about what comes next,” said Jeff Foland, CEO, Atlantic Aviation.
Over the past five years, Apollo has originated more than $155 billioni of infrastructure transactions and financings across energy, transportation, digital and industrial sectors. Apollo Infrastructure Group represents a key growth vertical for Apollo as it continues to deploy flexible, large-scale capital solutions across essential infrastructure assets.
KKR’s infrastructure business has been investing globally for nearly two decades and today manages more than $120 billion in infrastructure assets. Since 2015, KKR has invested more than $12 billion across the aviation sector. KKR is funding its investment primarily through its infrastructure vehicles.
Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to the Apollo Funds. Evercore and Morgan Stanley & Co. LLC served as financial advisors and Kirkland & Ellis served as legal advisor to KKR.
About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2026, Apollo had approximately $1.05 trillion of assets under management. To learn more, please visit www.apollo.com.
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.
Contacts
For Apollo:
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540 [email protected]
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491 [email protected]
i The deployment, commitment, or arrangement of capital into infrastructure investments is commensurate with Apollo’s proprietary Infrastructure Investment Classification Framework and Calculation Methodology (the “Methodology”). The Methodology, which is subject to change at any time without notice, sets forth certain categories of investments classified by Apollo as infrastructure investments. Only investments determined to be aligned with one or more categories of infrastructure investment in accordance with the Methodology are counted toward the deployment, commitment, or arrangement of capital. Under the Methodology, Apollo uses different calculation methodologies for different types of asset classes. For additional details on the Methodology, please refer to our website.
AST SpaceMobile má partnerství s více než 60 mobilními operátory a přes 3 miliardy předplatitelů, ale akcie ASTS se obchodují za 48,14násobek forwardových 12měsíčních tržeb na akcii. Firma zároveň drží pro forma likviditu nad 3,7 miliardy USD.
Key Takeaways AST SpaceMobile has partnerships with 60 mobile operators covering more than 3 billion subscribers.ASTS trades at 48.14X forward sales, far above the 4.98X sub-industry and 6.3X sector multiples.AST SpaceMobile had pro forma liquidity above $3.7B to support more than 100 BlueBird satellites. AST SpaceMobile, Inc. (ASTS - Free Report) offers a high-growth direct-to-device broadband story as satellite deployment, operator partnerships and commercial preparations advance.
Investors must decide whether those potential offsets outweigh a valuation far above industry and sector benchmarks while execution demands, heavy spending and losses persist.
ASTS Has a Large Commercial OpportunityAST SpaceMobile has signed partnerships with more than 60 mobile network operators covering more than 3 billion subscribers. Its network is designed to connect directly to standard, unmodified smartphones, while approximately 3,900 patent and patent-pending claims support its technology position.
That network includes AT&T Inc. (T - Free Report) , which has a definitive commercial agreement with AST SpaceMobile through 2030 for space-based broadband direct to everyday cell phones. Verizon Communications Inc. (VZ - Free Report) has also partnered with AST SpaceMobile for direct-to-cellular connectivity using 850-megahertz spectrum, underscoring carrier interest in satellite coverage that complements terrestrial networks.
AST SpaceMobile Revenue Growth Is AcceleratingThe Zacks Consensus Estimate calls for revenues of $163 million in 2026 and $682 million in 2027. Projected sales growth for the current year is 129.6%, reflecting a steep ramp from the company’s still-small revenue base.
AST SpaceMobile also reported approximately $1.3 billion in aggregate contracted revenue agreements and U.S. government awards. Management reiterated full-year 2026 revenue guidance of $150 million to $200 million, supported by gateway deliveries and government programs.
ASTS Trades at a Steep Sales MultipleASTS trades at 48.14X forward 12-month sales per share. That compares with 4.98X for the Zacks sub-industry and 6.3X for the Zacks sector, leaving the stock at a substantial premium.
Image Source: Zacks Investment Research
The multiple places considerable weight on successful constellation deployment, service activation and future revenue scaling. The valuation offers limited room for operational setbacks if commercial adoption or launch timing falls short of expectations.
AST SpaceMobile Still Must Execute at ScaleAST SpaceMobile is expanding satellite production, arranging launches, deploying gateways and integrating its network with mobile operators. It targets approximately 45 BlueBird satellites in orbit by early 2027, with about 45 to 60 satellites expected to support continuous service across key markets.
BlueBird 7 was placed into a lower-than-planned orbit and later de-orbited, leading to a $125.9 million loss on involuntary conversion in the second quarter. Additional launch problems could delay service activation and revenue realization, while operating and capital spending remain elevated.
ASTS Has Liquidity to Fund Its AmbitionsCash, cash equivalents and restricted cash totaled about $2.7 billion at June 30, 2026. A July convertible senior-note offering raised $1.15 billion of gross proceeds and lifted pro forma liquidity above $3.7 billion.
Management said that capital position can support the build-out and launch of more than 100 BlueBird satellites. The liquidity cushion reduces near-term financing pressure, but capital requirements remain substantial as manufacturing and launch activity increase.
ASTS Rating Signals Favor PatienceThe growth case is sizeable, but ASTS combines a premium valuation with demanding operational milestones and a still-unprofitable earnings profile. That mix supports patience rather than treating projected revenue growth alone as a reason to buy.
ASTS currently carries a Zacks Rank #3 (Hold), along with a VGM Score of F, Value Score of F, Growth Score of F and Momentum Score of D. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. A Hold rank can support maintaining an existing position, while the weak Style Scores indicate less favorable value, growth and momentum characteristics than higher-scoring stocks. The readings support a measured approach while investors watch execution and commercialization progress.
Key Takeaways AST SpaceMobile launched six BlueBirds in 50 days, expanding its in-orbit network to 13 spacecraft.ASTS targets about 45 satellites by early 2027, with 45-60 needed for continuous service in key markets.AST SpaceMobile reiterated 2026 revenue guidance of $150M-$200M, with revenue weighted toward Q4. AST SpaceMobile, Inc. (ASTS - Free Report) has accelerated BlueBird deployment as it moves toward beta service and broader commercialization. Six satellites launched within 50 days lifted its in-orbit network to 13 spacecraft.
The investment question is whether that pace can support meaningful 2026 revenues while the company manages launch risk, network activation and the spending needed to reach continuous coverage.
ASTS Adds Six BlueBirds in Just 50 DaysBlueBirds 8, 9 and 10 launched in June, followed by BlueBirds 11, 12 and 13 in August. The newer satellites use approximately 2,400-square-foot communications arrays and are designed to provide direct broadband connectivity to standard smartphones.
The six launches expanded AST SpaceMobile’s network to 13 in-orbit spacecraft. The company expects its newer Block 2 satellites to approach 200 Mbps in peak data rates, versus nearly 100 Mbps demonstrated by the initial Block 1 satellites.
AST SpaceMobile Targets 45 Satellites by Early 2027BlueBirds 14, 15 and 16 were ready to ship around the second-quarter update, while BlueBirds 17 through 46 were in various stages of production and assembly. AST SpaceMobile targets approximately 45 BlueBird satellites in orbit by early 2027.
Management estimates that roughly 45 to 60 satellites could provide continuous service across key markets. That target makes manufacturing cadence and dependable access to launch capacity central to the company’s expansion plan.
ASTS Links Deployment to Commercial ActivationAST SpaceMobile is preparing beta service with selected mobile network operators during 2026. It has activated about 3,000 digital cells across the continental United States, while nearly 50 gateways are in various stages of completion, installation and planning.
Carrier relationships provide a path from satellite coverage to customer service. AT&T Inc. (T - Free Report) has a definitive commercial agreement with AST SpaceMobile through 2030 for space-based broadband direct to everyday cell phones. Verizon Communications Inc. (VZ - Free Report) has also partnered with AST SpaceMobile to expand direct-to-cellular coverage, including use of 850-megahertz spectrum.
AST SpaceMobile Has Revenue Milestones AheadManagement reiterated full-year 2026 revenue guidance of $150 million to $200 million. Second-quarter revenues were $31.5 million, driven primarily by commercial gateway deliveries and U.S. government service milestones.
AST SpaceMobile also reported approximately $1.3 billion in aggregate contracted revenue agreements and U.S. government awards. Management expects 2026 revenues to build sequentially and be weighted toward the fourth quarter, with potential initial commercial service revenues adding to gateway and government contributions.
ASTS Cannot Afford Repeated Launch SetbacksBlueBird 7 was placed into a lower-than-planned orbit in April 2026 and later de-orbited because the altitude was insufficient for sustained operations. AST SpaceMobile recorded a $125.9 million loss on involuntary conversion in the second quarter.
The company still depends on repeated successful launches to reach approximately 45 satellites by early 2027. Additional delays or failures could postpone continuous service across key markets and shift revenue realization, directly linking launch reliability to the commercialization timetable.
ASTS Rating Signals Keep Expectations in CheckThe launch cadence is advancing, but meaningful commercial progress still depends on turning a larger constellation into reliable service and recurring revenues. Government contracts and gateway deliveries support the near-term revenue plan, while broader service activation remains an execution test.
ASTS currently carries a Zacks Rank #3 (Hold), with a VGM Score of F, Value Score of F, Growth Score of F and Momentum Score of D. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. A Hold rank can support maintaining an existing position, while the weaker Style Scores indicate less favorable value, growth and momentum characteristics than higher-scoring stocks. The signals favor measured expectations as deployment continues.
Key Takeaways Levi Strauss saw international markets reach 60% of revenues in the first half of fiscal 2026.Mexico grew 15%, while Brazil, the Andes and Colombia posted double-digit growth in the quarter.Levi Strauss raised organic net revenue growth expectations to 5.5-6% for fiscal 2026. Levi Strauss & Co. (LEVI - Free Report) continues to gain traction in the international markets, strengthening its position as a global denim lifestyle brand. International markets represented approximately 60% of the company’s revenues in the first half of fiscal 2026, up from 57% a year ago. In the second quarter of fiscal 2026, international revenues increased 6% organically, led by double-digit growth in Asia and Latin America.
Asia remained a key growth engine, with second-quarter revenues increasing 12% organically. Growth was broad-based across direct-to-consumer (DTC) and wholesale channels, while the operating margin expanded 350 basis points to 15%. Turkey, Japan and India led growth across the region. Meanwhile, China showed early signs of recovery, supported by new leadership and improvements in product and execution, with management encouraged by a return to growth.
Latin America continued to build momentum. Mexico, Levi Strauss’ second-largest market globally, delivered 15% growth in the quarter. Across Latin America, Brazil, the Andes and Colombia posted double-digit growth. Management sees additional opportunities to build on this momentum through store openings, e-commerce and wholesale expansion.
Europe’s reported revenues increased 4%, while organic revenues declined 1% due entirely to the impacts of last year’s distribution-center transition. Underlying trends remained healthy, with DTC revenues increasing 7% and strength in Germany and the U.K. The completed European distribution-network remap is already supporting operational efficiency, distribution expense leverage and profitability. Management is encouraged by high-single-digit wholesale pre-order growth for the second half.
Levi Strauss’ expanding international footprint provides meaningful runway for future growth, particularly as several markets remain in the early stages of development. Management’s confidence is reflected in its raised fiscal 2026 outlook, with organic net revenues expected to increase 5.5-6% compared with the previous 4.5-5.5%. Higher DTC penetration, continued international expansion and broader lifestyle offerings are expected to support the company’s growth trajectory.
LEVI’s Price Performance, Valuation & EstimatesShares of Levi Strauss have gained 3.3% in the year-to-date period against the industry’s 13.4% decline.
Image Source: Zacks Investment Research
From a valuation standpoint, LEVI trades at a trailing price-to-sales ratio of 1.18X, below the industry’s average of 1.63X. It has a Value Score of B.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Levi Strauss’ fiscal 2026 earnings implies year-over-year growth of 14.9%, while the same for fiscal 2027 indicates an uptick of 11.3%. Estimates for fiscal 2026 and 2027 have been revised upward by 4 cents each over the past 60 days.
Image Source: Zacks Investment Research
Levi Strauss currently carries a Zacks Rank #3 (Hold).
Better-Ranked PicksFIGS, Inc. (FIGS - Free Report) is an apparel company focused on the healthcare industry. Its offerings include lab coats, jackets, footwear, bags, socks and other accessories used by healthcare professionals. The company carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for FIGS’s current financial-year earnings and sales suggests growth of 89.5% and 18.2%, respectively, from the year-ago actuals. FIGS delivered a trailing four-quarter average earnings surprise of 201.8%.
Boot Barn Holdings, Inc. (BOOT - Free Report) is the largest lifestyle retailer in the United States, specializing in western and work-related footwear, apparel and accessories. The company has a Zacks Rank #2 at present.
The Zacks Consensus Estimate for Boot Barn’s current fiscal-year earnings and sales suggests growth of 22.6% and 15.7%, respectively, from the year-ago actuals. BOOT delivered a trailing four-quarter average earnings surprise of 11.4%.
American Eagle Outfitters Inc. (AEO - Free Report) is a specialty retailer of casual apparel, accessories and footwear. It carries a Zacks Rank of 2 at present.
The Zacks Consensus Estimate for American Eagle's current fiscal-year earnings and sales suggests growth of 17.3% and 5.7%, respectively, from the year-ago actuals. AEO delivered a trailing four-quarter average earnings surprise of 48.5%.
JFrog uvedl Traffic Controller, který přes Zscaler, Cloudflare a Netskope přesměrovává stahování balíčků přes JFrog Artifactory a blokuje škodlivé balíčky na síťové úrovni. Firma zároveň varuje, že škodlivé balíčky meziročně vzrostly o 451 % na více než 171 000 unikátních případů.
JFrog Ltd. (Nasdaq: FROG), the Liquid Software company and creators of the JFrog Software Supply Chain Platform, the system of record for software artifacts, binaries, and AI assets, today announced new solutions integrated with Zscaler™, Cloudflare, and Netskope – three of the industry's leading Secure Access Service Edge (SASE) providers – to stop malicious packages at the network level before they reach users' machines. The JFrog Traffic Controller universally works with SASE solutions and JFrog Curation to deliver network-layer enforcement that automatically reroutes software package download requests through JFrog Artifactory as the single source of truth – ensuring all software developers and AI agents can develop safely at speed, while giving the organization a traffic enforcement solution to prevent bypasses.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260827530047/en/
Together with industry-leading SASE providers Zscaler, Cloudflare, and Netskope, JFrog enables organizations to control open source consumption at the network edge, ensuring every package and artifact used by developers, AI agents, or non-engineering employees flows through a trusted, governed software supply chain. No bypass. No exceptions.
JFrog's 2026 Software Supply Chain Security State of the Union showed a 451% surge in malicious packages year over year, reaching over 171,000 unique instances. Yet only 40% of organizations have malicious package detection capabilities in place, and secrets detection is active in just 28% of enterprises. The categories growing fastest in threat volume seem to be the least covered by today’s tooling.
“Open source has powered software innovation for decades, but in today’s zero-trust world, simply enabling traffic is no longer enough. Organizations need control over what enters their software supply chain, whether it is requested by a developer, an AI agent, or an automated tool. The answer is not another security alert or another gate that disrupts the developer workflow. It is a universal control point that ensures every package flows through one trusted system of record, where policy can be governed and enforced,” said Shlomi Ben Haim, Co-Founder and CEO, JFrog. “JFrog Traffic Controller extends that enforcement to the network edge, creating one trusted path for software consumption with no exceptions, while developers and AI agents continue working without disruption. We’re thrilled to partner with the world’s leading security companies to bring this vision to our customers while staying true to JFrog’s universal philosophy – empowering our customers with a freedom of choice without compromising control, security, or speed.”
The Threat and the AI Governance Gaps are Getting Worse
Today's threat extends well beyond known malicious packages. AI coding agents like Claude Code, Cursor, Copilot, and Kiro now run directly on developer machines, autonomously pulling dependencies, installing libraries, and invoking build processes with little to no review. Agents – like developers – don't always follow proxy configurations, consult approved package lists, or pause before fetching packages from the default public registries. Therefore, each agent session is a potential unmonitored entry point into the organization's software supply chain.
This risk is amplified as frontier AI models further accelerate attackers' ability to discover and exploit vulnerabilities. The window between disclosure and active exploitation has shrunk to mere hours, making comprehensive visibility into every software component entering the organization the only reliable way to answer, "are we exposed?" before attackers already know the answer.
Gartner recognized these increasing stakes – citing software supply chains as one of “four critical and unpredictable threats where attackers hold a significant advantage to successfully exploit weaknesses in targeted organizations.” The coverage gap is real – not just theoretical – and it’s structural. AI coding agents, autonomous build tools, and non-engineering employees using AI-powered applications often download dependencies directly from public registries, bypassing every pipeline-level control and leaving no audit trail.
Reroute, Don't Block: How JFrog Closes the Governance Gap
The JFrog Software Supply Chain Platform helps stop malicious and unwanted packages at the network layer and creates a complete, auditable record of every package entering the organization across companies using Zscaler, Cloudflare, and Netskope simultaneously. Rather than simply blocking out-of-policy requests, JFrog Traffic Controller transparently reroutes outbound package downloads through JFrog Artifactory, where JFrog Curation inspects each package against the configured security, license, and quality policies before it enters the organization. Compliant packages are delivered without interruption while malicious ones are stopped and, when available, a safe approved version is served automatically.
“By partnering with Cloudflare, Netskope and Zscaler, our Traffic Controller works natively with the security infrastructure our customers already use,” said Gal Marder, Chief Strategy Officer, JFrog. “We're making it possible for the entire software security ecosystem to enforce the same standard with zero friction: every package needs to be curated before first use, every transaction on record, no exceptions. That is how the industry builds a supply chain it can actually trust."
When the Pipeline Is Secure, but the Perimeter Is Not
Adyen, a global financial technology platform enabling businesses to accept, process, and settle payments across online, mobile, and in-store channels, consolidated their software supply chain on the JFrog Platform to help scale their enterprise-wide DevSecOps practices. Adyen uses JFrog Curation as a real-time firewall to block malicious open-source packages from entering their software pipelines. This allows developers to safely pull software components without introducing vulnerabilities, while experiencing zero disruption to their workflow.
“JFrog Curation provides a firewall for open-source packages. You instill policies that defend the organization, but the goal isn't to say ‘no’,” said Supun Vidana Pathiranage, DevSecOps Specialist, at Adyen. “It's about how we can help developers continue their work without disrupting their workflow. We enable development; we don't block it."
Initial Gateway Security Solutions Supported
The JFrog Traffic Controller solution is available immediately through JFrog Curation, supporting:
Zscaler Internet Access™ (ZIA™): Identifies and curates the supply chain software package traffic through JFrog.Cloudflare Gateway: Can be configured to TLS-inspect public registry traffic and apply firewall policies to redirect package requests to JFrog Artifactory.Netskope One SSE: Applies real-time protection policies to redirect package manager traffic through JFrog, with browser passthrough to preserve the developer experience.At the heart of the JFrog Platform, Artifactory serves as the system of record for the software supply chain – storing, managing, and governing the binaries and packages that organizations rely on. When combined with JFrog Curation, the JFrog Platform creates a single source of truth – protected by policy-driven controls – that prevents malicious, risky, or unwanted packages from entering the software supply chain. JFrog Traffic Controller extends this protection to the network edge while preserving customer choice. Traffic Controller is designed as a universal enforcement layer that integrates with leading SASE providers, allowing customers to choose their preferred solution.
“Bringing JFrog's package intelligence into Netskope's real-time protection policies gives joint customers a contextual, policy-driven answer to every package download, facilitating the user and agent build flow rather than a legacy solution which could only block access,” said David Willis, Vice President, Technology Alliances, Netskope.
Support for additional SASE partners is expected to follow. Interested parties can learn more at https://jfrog.com/curation/package-traffic-controller/, read this blog, view this demo, or register for JFrog swampUP 2026 at The Glasshouse in New York, September 1-3, 2026. Register here. Organizations interested in evaluating JFrog Curation and JFrog Traffic Controller can request a demo at jfrog.com/curation.
Like this Story? Share this on X: Your pipeline is locked down. But what about the #AI agent that just pulled a malicious #npm package from outside it? @JFrog + @Zscaler + @Cloudflare + @Netskope just closed that gap with the new JFrog Traffic Controller - stopping malicious #opensource packages at the network edge before they ever touch your pipeline. The perimeter just became part of the pipeline. #SoftwareSupplyChain #DevSecOps #OpenSourceSecurity #security #DevGovOps
About JFrog
JFrog Ltd. (Nasdaq: FROG), the creators of the unified DevOps, DevSecOps and MLOps platform, is on a mission to create a world of software delivered without friction from developer to production. Driven by a "Liquid Software" vision, the JFrog Software Supply Chain Platform is a single system of record that powers organizations to build, manage, and distribute software quickly and securely that is available, traceable, and tamper-proof. Integrated security features also help identify, protect, and remediate against threats and vulnerabilities. JFrog's hybrid, universal, multi-cloud platform is available as both SaaS services across major cloud service providers and self-hosted. Millions of users and 7K+ customers worldwide, including a majority of the Fortune 100, depend on JFrog solutions to securely embrace digital transformation in the AI era.
About JFrog swampUP 2026
JFrog’s annual swampUP event is the premier conference for teams building trusted software in the AI era. Bringing together software developers, security professionals, IT and DevOps leaders, MLOps engineers, and community innovators, swampUP confronts the central challenge of modern software delivery: building, securing, and governing trusted software alongside the AI models and autonomous agents that now ship with it at enterprise scale. Designed to help organizations master the AI surge with "Trusted Intelligence," the 2026 global JFrog swampUP tour features events in New York City (September 1-3 at The Glasshouse) and Barcelona (October 20-22 at The InterContinental). Attendees will experience visionary keynotes, hands-on technical training, and immersive breakout sessions empowering them to engineer trust into their agentic software supply chains without sacrificing speed. Learn more and register at https://swampup.jfrog.com/.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260827530047/en/
Energy Transfer podle článku vede nad MPLX díky nižšímu ocenění, silnějšímu růstu a většímu optimismu analytiků. ET navíc cílí na 3% až 5% roční růst distribuce.
Key Takeaways ET edges MPLX on valuation, price appreciation, analyst optimism and growth projections.ET targets 3%-5% annual distribution growth as power demand and contracted projects support cash flow.MPLX expects mid-single-digit EBITDA growth in 2026 and 12.5% distribution increases in 2026 and 2027. As global energy consumption rises, limited partnerships like Energy Transfer LP (ET - Free Report) and MPLX LP (MPLX - Free Report) support conventional energy needs while increasingly advancing cleaner technologies and carbon-reduction strategies, making them vital to both current systems and the transition to a more sustainable future.
Energy Transfer is a diversified midstream partnership with operations spanning natural gas, NGLs, crude oil, refined products, terminalling, storage and related services in the United States. MPLX LP is a master limited partnership engaged in providing a wide range of midstream energy services, including fuel distribution solutions.
Let's delve deeper to find out which stock between ET and MPLX is better positioned for sustainable growth.
The Case for ETEnergy Transfer gains from a largely fee-based model and a broad natural gas, NGL and crude network that support recurring cash generation. Rising data-center power demand is extending long-term transportation commitments.
It is using its natural gas network to serve incremental electricity demand through laterals, compression and targeted expansions. Existing agreements include natural gas supply to Oracle data centers, Nexus’ AI campus and Entergy Louisiana. ET's integrated Permian-to-Gulf-Coast infrastructure gives it significant leverage to rising NGL production and international demand.
Management’s 2026 plan combines a larger growth backlog with contracted projects and stated return thresholds. The partnership is also advancing Desert Southwest, Springerville and the fully subscribed Nederland export expansion. Management raised 2026 adjusted EBITDA guidance to $18.8-$19.1 billion and expects $5.6-$5.9 billion of growth capital. It says most major projects are backed by long-term commitments and are expected to generate mid-teen returns, supporting earnings growth beyond the current year.
Yet, commodity volatility still affects certain margins and producer-driven activity. The partnership also carries execution risk as its larger capital program advances several major projects. Cash flow remains dependent on operating subsidiaries, while customer concentration and competition can affect precontracting, utilization and returns.
Management continues to target a long-term annual distribution growth rate of 3% to 5%, framing growth within a disciplined capital approach that can be effective during weaker commodity or capital market conditions.
The Case for MPLXMPLX’s principal strength lies in the quality and strategic location of its infrastructure. The partnership operates an extensive portfolio of crude oil, refined-products, natural gas and NGL assets across major U.S. producing regions, with significant exposure to the Permian and Marcellus basins. Its long-lived assets and extensive commercial relationship with Marathon Petroleum support stable, largely fee-based cash flows and limit direct exposure to commodity-price volatility.
New capacity is entering service across the Permian and Marcellus, while increased ownership interests in the BANGL and Matterhorn pipelines strengthen MPLX’s integrated wellhead-to-Gulf Coast network. Management expects adjusted EBITDA to grow at a mid-single-digit rate in 2026, followed by stronger growth in 2027 as recently completed projects ramp up. Cash flows from existing operations and new projects are also expected to support distribution increases of 12.5% in both 2026 and 2027.
However, MPLX’s expanded capital program increases execution and funding requirements. Distribution coverage could remain under pressure as capital spending rises, while higher leverage and elevated interest expenses may constrain financial flexibility. Project delays, cost overruns or slower-than-expected volume growth could weaken anticipated returns. Lower crude pipeline throughput, rising operating expenses and residual commodity-price exposure may also temper earnings growth. Moreover, MPLX’s close commercial relationship with Marathon Petroleum creates customer-concentration risk, leaving its results partly dependent on the operating requirements and strategic priorities of its parent.
Estimates for ET and MPLX The Zacks Consensus Estimate for ET’s 2026 revenues implies a 41% increase, and that for EPS suggests a 37.2% year-over-year increase. EPS estimates for 2026 have moved 15.3% north in the last 30 days. It has a Growth Score of A. The expected long-term earnings growth rate is pegged at 17.2%.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for MPLX’s 2026 revenues implies a 1.7% increase, and that for EPS indicates a 11.2% decrease. The consensus estimates for 2026 earnings rose 0.7% in the last 30 days. The company has a Growth Score of D. The expected long-term earnings growth rate is pegged at 2.5%.
Image Source: Zacks Investment Research
Price Performance of ET and MPLXET shares have gained 30% year to date, while MPLX shares have gained 11.7% in the same time.
Image Source: Zacks Investment Research
Are ET and MPLX Shares Expensive?ET is trading at a trailing 12-month Enterprise Value/Earnings before Interest Tax Depreciation and Amortization (EV/EBITDA) of 9.58X, lower than its median of 9.87 over the past three years. MPLX’s trailing 12-month Enterprise Value/Earnings before Interest Tax Depreciation and Amortization (EV/EBITDA) sits at 11.65X, higher than its median of 10.61X over the past three years.
ET is cheaper than MPLX presently.
Image Source: Zacks Investment Research
ConclusionFee-based contracts, rising power demand, contracted infrastructure projects and disciplined distributions support cash flow and long-term growth visibility for Energy Transfer.
Integrated gas and NGL expansion, rising utilization, durable cash generation and distribution growth support MPLX’s long-term investment case for unitholders.
Though both ET and MPLX carry a Zacks Rank #3 (Hold), ET edges MPLX with respect to valuation, price appreciation, analysts’ optimism and growth projections.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Bank of New York Mellon Corp acquired a new position in Domino’s Pizza Inc (NASDAQ:DPZ – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 263,735 shares of the restaurant operator’s stock, valued at approximately $78,076,000. Bank of New York Mellon Corp owned 0.80% of Domino’s Pizza as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Focus Partners Advisor Solutions LLC bought a new stake in shares of Domino’s Pizza during the 2nd quarter valued at $285,000. GSA Capital Partners LLP purchased a new position in shares of Domino’s Pizza in the second quarter valued at about $319,000. SWS Partners bought a new position in shares of Domino’s Pizza in the second quarter worth about $1,427,000. Oppenheimer Asset Management Inc. bought a new position in shares of Domino’s Pizza in the second quarter worth about $5,686,000. Finally, Investors Research Corp grew its position in shares of Domino’s Pizza by 9,900.0% during the second quarter. Investors Research Corp now owns 100 shares of the restaurant operator’s stock worth $30,000 after purchasing an additional 99 shares in the last quarter. 94.63% of the stock is owned by hedge funds and other institutional investors.
Domino’s Pizza Stock Performance
Shares of DPZ opened at $349.91 on Wednesday. The company’s fifty day moving average is $326.86 and its 200 day moving average is $346.39. Domino’s Pizza Inc has a fifty-two week low of $282.00 and a fifty-two week high of $469.00. The stock has a market capitalization of $11.58 billion, a PE ratio of 19.85, a P/E/G ratio of 1.68 and a beta of 0.94.
Domino’s Pizza (NASDAQ:DPZ – Get Free Report) last released its quarterly earnings results on Monday, July 20th. The restaurant operator reported $4.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.10). Domino’s Pizza had a net margin of 11.86% and a negative return on equity of 15.15%. The business had revenue of $1.19 billion for the quarter. During the same quarter last year, the firm posted $3.81 earnings per share. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. As a group, research analysts forecast that Domino’s Pizza Inc will post 18.88 earnings per share for the current year.
Domino’s Pizza Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $1.99 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $7.96 dividend on an annualized basis and a dividend yield of 2.3%. Domino’s Pizza’s dividend payout ratio (DPR) is presently 45.15%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on DPZ shares. Rothschild & Co Redburn lowered their price target on Domino’s Pizza from $340.00 to $290.00 in a report on Monday, May 11th. BTIG Research reaffirmed a “buy” rating and set a $425.00 price objective on shares of Domino’s Pizza in a report on Tuesday, July 21st. Mizuho reduced their price objective on shares of Domino’s Pizza from $470.00 to $420.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 28th. JPMorgan Chase & Co. lowered their target price on shares of Domino’s Pizza from $430.00 to $380.00 and set an “overweight” rating on the stock in a report on Tuesday, June 23rd. Finally, KeyCorp restated a “sector weight” rating on shares of Domino’s Pizza in a research report on Tuesday, July 21st. Sixteen analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $397.42.
View Our Latest Analysis on Domino’s Pizza
Insider Transactions at Domino’s Pizza
In other news, CEO Russell J. Weiner sold 10,850 shares of Domino’s Pizza stock in a transaction that occurred on Friday, July 17th. The stock was sold at an average price of $330.83, for a total value of $3,589,505.50. Following the completion of the transaction, the chief executive officer owned 43,829 shares in the company, valued at approximately $14,499,948.07. The trade was a 19.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelly E. Garcia sold 12,430 shares of the business’s stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $322.04, for a total value of $4,002,957.20. Following the transaction, the executive vice president directly owned 9,352 shares in the company, valued at approximately $3,011,718.08. This represents a 57.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 24,254 shares of company stock valued at $7,888,924. 0.89% of the stock is owned by insiders.
Domino’s Pizza Company Profile
(Free Report)
Domino’s Pizza, Inc (NASDAQ: DPZ) is a global pizza delivery and carryout chain founded in 1960 and headquartered in Ann Arbor, Michigan. The company specializes in a broad range of hand‐crafted pizzas, including hand-tossed, thin crust and specialty offerings, alongside side items such as chicken wings, sandwiches, pasta, desserts and beverages. Domino’s has built its brand on convenience and speed, leveraging proprietary ordering platforms and its Domino’s Tracker system to provide real-time status updates from order placement through delivery.
Operating predominantly under a franchise model, Domino’s has more than 17,000 stores worldwide, with approximately 95% of outlets owned and operated by independent franchisees.
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The daily purchase is small, but cancellation turns recurring buybacks into permanent ownership gains. Summary
Tencent bought 672,000 shares at an average HK$447.02 for cancellation.
Tencent Holdings TCEHY, the Chinese gaming, advertising and financial-technology giant, spent HK$300.4 million repurchasing 672,000 shares Wednesday as the stock climbed 0.8% to $56.77. Tencent paid an average HK$447.02 per share. The message is simple: management still sees enough value to keep buying.
Every share purchased Wednesday will be cancelled. No treasury-stock shuffle. Tencent has now repurchased approximately 41.46 million shares under its current mandate, equal to 0.455% of the original share count. Its second-quarter results explain where the firepower comes from: revenue jumped 11% to RMB204.8 billion, while fintech and business-services sales rose 9% to RMB60.3 billion.
One day's buyback erased only around 0.0074% of outstanding shares. Small move. Bigger pattern. At $56.77, Tencent trades 16.72% below its GF Value™ estimate of $68.17, giving each cancelled share more punch. Now comes the real test: can buybacks consistently outrun employee stock awards and the cash demands of Tencent's AI buildout?
Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.
Tencent uvedl preview nového open-source AI modelu Hy4 preview pro software engineering, výzkum a finanční analýzu. Model má celkem 770 miliard parametrů, přičemž při jednom dotazu využívá asi 49 miliard. Firma ho chce integrovat do CodeBuddy a WorkBuddy.
Tencent (0700.HK) released a preview version of a new open-source AI model aimed at tasks such as software engineering, research and financial analysis, according to its post published on Friday on Hugging Face, a repository of open-source AI models.
The model, called Hy4 preview, uses a "mixture-of-experts" design with 770 billion parameters in total, Tencent said, although only about 49 billion are used for any given text request.
The Chinese technology giant said it plans to integrate the model alongside Tencent products, including CodeBuddy and WorkBuddy.
Tencent added that the early-release model can sometimes take longer than necessary to work through complex questions and may over-verify its own answers.
The release comes at a time when Tencent is ramping up investment in AI in an increasingly crowded market.
It unveiled a large language model called Hunyuan 3.0 in April, its first major release since hiring former OpenAI researcher Yao Shunyu to lead its AI platform development.
Akcie Hims & Hers Health (HIMS) v pondělí klesly asi o 8 % poté, co Visa zařadila firmu do monitorovacího programu kvůli sporům o platby zákazníků. Firma může v září čelit poplatkům téměř 75 000 USD.
Hims & Hers Health HIMS shares dipped about 8% Monday after reports that Visa had placed the telehealth company under a monitoring program tied to customer payment disputes.
The action followed an increase in card chargebacks linked to Hims' weight-loss subscription business during July. The company could face fees of nearly $75,000 in September, based on an $8 charge for each dispute.
To leave the program, Hims would need to keep its dispute rate below 1.5% of transactions for three consecutive months. Payment processor Stripe reportedly notified the company of the move earlier this month.
The development adds another challenge for Hims as its subscription practices face regulatory scrutiny. The Federal Trade Commission and state authorities sued the company in July over allegations involving billing, cancellations and customer data. Hims has disputed the allegations and said it has taken steps to address customer payment concerns.
The Visa dispute could keep pressure on Hims shares as investors assess potential costs and whether billing-related concerns affect customer retention.
Akcie Haidilao v Hongkongu vyskočily o 7 % po výsledcích za první pololetí, kdy tržby z doručování vzrostly o 121,2 % na 2,05 miliardy jüanů. Celkové tržby stouply o 7,9 % na 22,34 miliardy jüanů.
Shares of Chinese hotpot chain Haidilao International rose 7% in Hong Kong on Wednesday, after the company's first-half results revealed delivery revenue more than doubled.
The results, released on Tuesday, showed Haidilao's revenue rose 7.9% year-on-year to 22.34 billion yuan ($3.32 billion) in the six months to June, while core operating profit, a non-IFRS measure, rose 4.4% to 2.51 billion yuan.
Delivery was Haidilao's fastest-growing business segment, with revenue jumping 121.2% to 2.05 billion yuan, driven mainly by rapid growth in its single-serving fast-food business and the expansion of its delivery network through more local hubs.
Revenue from Haidilao-branded restaurants, which accounted for 79.9% of group sales, fell 4% to 17.84 billion yuan, mainly due to a decline in the number of self-operated restaurants.
As of the end of June, Haidilao operated 1,389 restaurants under its core hotpot brand, and 183 restaurants across 21 other catering brands.
What is driving Haidilao's growth?Revenue from other restaurant operations surged 113.1% to 1.27 billion yuan, which Haidilao attributed to the development of catering brands under its "Pomegranate Plan" to explore new catering formats and contributions from dining scenarios, including camping hotpot and late-night hotpot.
The company said its food-stall hotpot and sushi formats have developed relatively mature single-restaurant models and entered the stage of "large-scale replication," with plans to progressively scale them up from the second half of this year, becoming a significant source of revenue growth for its other restaurant operations in 2027.
In a note after the earnings, Citi said Haidilao's first-half operating profit before other income rose 13% from a year earlier, coming in 6% above its expectations.
The bank also noted that Haidilao's seafood-stall hotpot and sushi formats should start scaling up in the second half of 2026, while Haidilao-branded store openings are expected to accelerate in 2027, with likely accelerated topline growth next year. The bank maintained its buy rating.
Happy Belly Food Group ve 2. čtvrtletí vykázala rekordní systémové tržby QSR ve výši 28,4 mil. CAD, což je meziročně o 75 % více. Tržby vzrostly na rekordních 8,5 mil. CAD a společnost provozuje 95 restaurací.
Toronto, Ontario--(Newsfile Corp. - August 26, 2026) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leader in acquiring and scaling emerging food brands is pleased to announce its unaudited financial results and corporate update for the fiscal quarter ended June 30th, 2026.
Q2 2026 Financial and Recent Business Highlights
SYSTEM-WIDE SALES GROWTH: Happy Belly generated record system-wide sales across its Quick Service Restaurant ("QSR") portfolio of $28.4 million in the second quarter of fiscal 2026, representing an increase of approximately 75% compared to $16.2 million in the same quarter of fiscal 2025, and an increase of approximately 47% compared to $19.3 million in the first quarter of fiscal 2026. The continued increase in system-wide sales reflects a combination of organic sales growth across the Company's existing restaurant base and the continued expansion of its restaurant network.
At June 30, 2026, the Company had 95 operating restaurants, representing an increase of approximately 53% from 62 operating restaurants in the prior-year period. The growth in both restaurant count and system-wide sales demonstrates the increasing scale of the Company's QSR portfolio as new locations continue to open and contribute to overall system performance.
REVENUE GROWTH: Total operating revenues, services, interest income and rebates were a record $8.5 million in the second quarter of fiscal 2026, representing an increase of approximately 57% compared to $5.4 million in the same quarter of fiscal 2025, and approximately 42% compared to $6.0 million in the first quarter of fiscal 2026. The year-over-year increase reflects continued growth in the Company's QSR operations, contributions from businesses acquired during the preceding twelve months, increased revenues generated from a larger restaurant network, and incremental royalties and franchise-related revenues resulting from new restaurant openings.
The sequential increase from the first quarter further reflects the continued ramp-up of recently opened restaurants and the growing contribution from the Company's expanding franchise system.
PRODUCT SALES AND FRANCHISE REVENUE: Total product sales were a record $6.4 million in the second quarter of fiscal 2026, representing an increase of approximately 39% compared to $4.6 million in the same quarter of fiscal 2025, and approximately 36% compared to $4.7 million in the first quarter of fiscal 2026.
In addition, royalties and franchise fee revenues increased to a record $1.6 million during the second quarter of fiscal 2026, representing growth of approximately 129% compared to $0.7 million in the prior-year period.
The significant increase in royalties and franchise fees reflects the continued expansion of Happy Belly's franchised restaurant base and the corresponding increase in system-wide sales upon which royalty revenues are generated. The increasing contribution from royalties and franchise fees is consistent with the Company's continued execution of its franchise-led, asset-light growth strategy.
ADJUSTED EBITDA: Adjusted EBITDA* was $0.7 million during the second quarter of fiscal 2026, compared to $0.5 million in the same quarter of fiscal 2025.
The Company maintained a strong liquidity position, with cash and cash equivalents of approximately $12.0 million as of June 30, 2026, compared to approximately $3.0 million at June 30, 2025. The large increase in cash position is reflective primarily of options and warrants exercised in the first 6 months of 2026, alongside increased operating revenues, franchise revenues, services, interest income and rebates.
The strengthened cash position provides Happy Belly with financial flexibility to continue supporting its organic growth initiatives while maintaining sufficient liquidity to support the Company's ongoing operations and working capital requirements.
Management Commentary
"In Q2 we delivered record QSR systemwide sales, announced our largest ever area development deal and ended the quarter with a record cash balance, all done while making critical investments back into our business. We are continuing our momentum into the back half of 2026 with a full slate of openings including our 1st US-based location in Lubbock, Texas, across from Texas Tech University that is only weeks away. We are just getting started," said Sean Black, Chief Executive Officer of Happy Belly Food Group.
Full details of the financial reports and operating results for the second quarter of fiscal 2026, are described in the Company's consolidated financial statements with accompanying notes and related Management's Discussion and Analysis, available on SEDAR+ at www.sedarplus.ca.
FOOTNOTES:
*Adjusted EBITDA Is a non-IFRS financial measure which does not have a standardized meaning prescribed by IFRS. Adjusted EBITDA and Adjusted EBITDA Margin are used by management as supplemental measures to review and assess operating performance and to provide a more complete understanding of factors and trends impacting the Company's business. Management believes Adjusted EBITDA are useful measures of operating performance and the Company's ability to generate cash-based earnings, as they provide a more relevant position of operating results by excluding the effects of financing and investing activities, which removes the effects of interest, depreciation and amortization expenses as well as other expenses, as described, that are not reflective of the Company's underlying business. This non-IFRS measure is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.
Adjusted EBITDA is defined as net comprehensive income or (loss), excluding interest, taxes, depreciation and amortization (EBITDA), adjusted for share-based compensation, gain (loss) on equity investments and sublease, expected credit loss and non-recurring expenses.
Franchising
For franchising inquiries please see www.happybellyfg.com/franchise-with-us/ or contact us at [email protected].
About Happy Belly Food Group
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company") is a leader in acquiring and scaling emerging food brands across Canada.
Happy Belly 1
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6625/311561_8209cb4844910918_002full.jpg
Sean Black
Co-founder, Chief Executive Officer
Shawn Moniz
Co-founder, President
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Forward-Looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur and include the future performance of Happy Belly and her subsidiaries. Forward-Looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for Happy Belly described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedarplus.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/311561
Source: Happy Belly Food Group Inc.
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SoundHound ve 2. čtvrtletí zvýšil tržby o 45 % na rekordních 61,9 milionu USD a zvedl celoroční výhled tržeb na 230–260 milionů USD. OASYS urychluje enterprise obchody napříč financemi, zdravotnictvím, telekomunikacemi a restauracemi.
Key Takeaways SOUN gets the edge on faster growth, improving estimates and broader agentic AI exposure.OASYS accelerates enterprise deals as SoundHound expands across finance, healthcare, telecom and restaurants.Cerence leads on valuation, profitability and free cash flow, but its 2027 revenue outlook is weaker. SoundHound AI, Inc. (SOUN - Free Report) and Cerence Inc. (CRNC - Free Report) are prominent players in conversational and voice artificial intelligence. SoundHound is building a diversified voice and agentic AI platform spanning enterprises, restaurants, automotive, healthcare and other industries, while Cerence remains deeply rooted in automotive AI and is expanding its next-generation technology into adjacent markets.
The comparison is increasingly relevant as both companies capitalize on growing demand for generative and agentic AI. SoundHound is pursuing faster growth and broader enterprise adoption, while Cerence is emphasizing profitable growth, recurring connected services and commercialization of its xUI platform.
Let's dive deep and closely compare the fundamentals of the two stocks to determine which one is a better investment now.
The Case for SoundHound StockSoundHound's growth trajectory remains compelling. Second-quarter 2026 revenues surged 45% year over year to a record $61.9 million, while non-GAAP gross margin was 58.4%. Adjusted EBITDA loss improved to $9.6 million from $14.3 million a year earlier, and non-GAAP loss narrowed to 2 cents per share.
The OASYS agentic AI platform is emerging as a major catalyst. Management said that OASYS has accelerated enterprise deals and helped SoundHound expand across financial services, healthcare, telecommunications and restaurants. The company's restaurant footprint continues to broaden, while Voice Commerce opens another opportunity through in-vehicle and connected-device transactions. Its proprietary Polaris speech foundation model and specialized AI models should also improve control, efficiency and potentially margins over time.
SoundHound's pending acquisition of LivePerson could substantially expand its enterprise footprint and strengthen its omnichannel conversational AI capabilities. The company expects the transaction to close before year-end after securing key regulatory clearances. SoundHound also raised its 2026 revenue outlook to $230-$260 million. Its balance sheet provides support, with $203 million of cash and no debt at June-end. However, operating cash outflow remains significant, and continued losses, acquisition integration and heavy investment create execution risks.
The Case for Cerence StockCerence offers a more mature financial profile. Fiscal third-quarter 2026 revenues rose 12% year over year to $69.6 million, while adjusted EBITDA increased 50% to $13.5 million. Free cash flow reached $19.6 million, demonstrating Cerence's stronger current cash-generation profile.
The company’s automotive position remains a key competitive advantage. Cerence technology is represented across roughly half of worldwide auto production on a trailing-12-month basis, providing a large installed base from which to expand connected and next-generation services. Cerence xUI is moving into commercialization, with a new multi-brand Stellantis award and programs involving several major global automakers. Management expects xUI to deliver higher revenue per vehicle and become a more meaningful contributor in fiscal 2027 and beyond.
Connected services are another bright spot, with revenues growing more than 20% in the latest quarter. Cerence is also pushing beyond automotive through agentic AI and its Mobile Work Agent, potentially reducing its dependence on vehicle production over time.
Yet that transition is still developing. Variable license revenues declined in the latest quarter, reflecting lower production volumes and OEM mix, while fixed-license revenue can make quarterly comparisons volatile. Cerence expects xUI and non-automotive initiatives to contribute more materially from fiscal 2027 onward. Encouragingly, management raised full-year free cash flow guidance to $76-$82 million and is balancing investment with debt reduction and a newly authorized share-repurchase program.
Recent Momentum Favors SoundHound StockBoth stocks have struggled in 2026. SoundHound and Cerence shares have plunged 29.8% and 29.1% year to date (YTD), respectively, compared with a 13.7% decline for the Zacks Computers – IT Services industry. Both have also substantially underperformed the broader Zacks Computer and Technology sector and S&P 500, as shown below.
SOUN vs CRNC Price Performance (YTD)
Image Source: Zacks Investment Research
Near-term momentum, however, favors SoundHound. SOUN has gained 9.2% over the past month, whereas CRNC has lost 8.7%. That divergence suggests investors have responded more positively to SoundHound's accelerating enterprise AI growth and improved outlook.
SOUN vs CRNC Price Performance (1-Month)
Image Source: Zacks Investment Research
Cerence Stock Holds the Clear Valuation AdvantageOn a forward 12-month price-to-sales basis, SoundHound trades at 11.93X versus just 1.16X for Cerence and 12.26X for the industry. SoundHound therefore trades slightly below the industry multiple but commands a massive premium to Cerence.
SOUN vs CRNC Valuation (P/S F12M)
Image Source: Zacks Investment Research
Cerence clearly wins on valuation. Its low sales multiple, positive cash generation and improving profitability offer a greater margin of safety. SoundHound's richer valuation requires sustained high revenue growth, successful execution of OASYS and continued progress toward profitability. Any growth disappointment could therefore create greater downside risk for SOUN.
Estimate Revisions Give SoundHound an EdgeSoundHound's estimate trend is encouraging. Over the past 30 days, the Zacks Consensus Estimate for its 2026 loss has narrowed to 16 cents per share from 18 cents. Revenues are projected to rise 41% in 2026. For 2027, SoundHound is expected to post a loss of 13 cents per share on revenues of $273 million, implying another 14.6% top-line increase.
SOUN EPS Estimate Revision Trend
Image Source: Zacks Investment Research
Cerence presents a mixed picture. Its 2026 EPS estimate has risen to 65 cents from 63 cents over the past 30 days, but the 2027 estimate has declined to $1.08 from $1.22. Revenues are expected to grow 24.5% in 2026 before declining 6.8% to $293 million in 2027, although EPS is projected to increase 65.4%. The downward 2027 estimate revision and weaker projected revenue trajectory temper Cerence's profitability advantage.
CRNC EPS Estimate Revision Trend
Image Source: Zacks Investment Research
SOUN Stock Looks Like the Better BuyCerence, currently carrying a Zacks Rank #3 (Hold), wins on valuation, current profitability and free cash flow. Its entrenched automotive position, expanding connected-services business and xUI commercialization provide meaningful long-term opportunities. Management's improved balance-sheet discipline and capital returns further strengthen the investment case.
SoundHound, however, offers the stronger growth profile. OASYS adoption, diversification across multiple industries, Voice Commerce, proprietary AI models and the pending LivePerson acquisition provide more avenues for expansion. This Zacks Rank #2 (Buy) company's improving loss estimates and strong recent share-price momentum add to the case. Despite its substantially higher valuation and continued losses, SoundHound's faster growth, improving earnings outlook and broader agentic AI opportunity give SOUN the edge over CRNC for investors seeking greater upside potential. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Steve Huffman prodal 40 336 akcií třídy A Reddit za 6,1 milionu USD, ale šlo o nediskreční transakci, kdy emitent zadržel 40 336 akcií na pokrytí daní z uplatnění opčního práva. Reddit zároveň upozorňuje na slabší viditelnost referral traffic a pokles denních aktivních uživatelů v USA.
Steve Ladd Huffman, the CEO and president of Reddit, Inc. (RDDT -0.62%), disposed of 40,336 shares of Class A Common Stock on August 20, according to a recent SEC Form 4 filing.
Transaction summaryMetricValueTransaction value$6.1 millionShares sold40,336Post-transaction shares (indirectly held)419,192Transaction value based on SEC Form 4 weighted average sale price ($151.71); post-transaction value based on the August 20 market close ($150.31).
Key questionsWhat was the nature of this transaction?
The transaction was a non-discretionary event where the issuer withheld 40,336 shares to satisfy tax liabilities tied to an option exercise, which does not reflect a change in the executive's investment outlook.How is the remaining equity structured?
Huffman still holds 343,329 shares indirectly through The XYZ Revocable Trust, plus additional shares through other trusts. What are the details of the executive's remaining incentive exposure?
Beyond the common stock holdings, the executive maintains a significant position through 3.5 million derivative securities held indirectly.How does this event relate to the company's market valuation?
The disposition occurred at $151.71 per share in a period where the stock has generated a -31% total return for the 12-month period ending on the August 20 transaction date.Company OverviewMetricValueShare Price (as of market close 2026-08-21)$153.29Market Capitalization$29.5 billionRevenue (TTM)$2.8 billionNet Income (TTM)$871.1 millionCompany SnapshotReddit operates a community-driven internet platform that generates revenue through advertising, premium subscriptions, and API licensing, enabling users to engage in discussions, share content, and participate in thousands of specialized communities organized by shared interests.The company monetizes its user-generated content ecosystem primarily through targeted advertising placements and Reddit Premium subscriptions, while also licensing its data and API access to enterprise clients seeking consumer insights and research capabilities.Reddit's primary audience consists of global internet users spanning diverse demographics, with particular strength among younger audiences and professional communities, while enterprise customers include advertisers, market researchers, and technology companies seeking engagement and data access.Reddit is a leading community-driven content platform with 2,555 employees and a market capitalization of $29.5 billion, generating $2.8 billion in TTM revenue with $871.1 million in net income. The company's competitive advantage derives from its highly engaged user base, authentic peer-to-peer interactions, and the aggregated knowledge contained within its communities, positioning it as a valuable destination for both consumer engagement and enterprise data applications. Reddit's business model leverages network effects and community-driven content creation to maintain a defensible moat in the digital media and information services landscape.
What this transaction means for investorsHuffman gave over 40,336 shares to cover taxes on an option exercise, which barely dents a stake that still includes 3.5 million derivative securities. He did it two days after Reddit joined the S&P 500 on August 18, replacing AvalonBay Communities, and after the pre-inclusion stock pop had already tapered away. JPMorgan estimated index funds would need to buy about 16.7 million shares around the effective date, close to three times Reddit's average daily volume, which gives you an idea of just how pronounced the buying activity was.
What's more important in the long-term is the user problem analysts and even Huffman have acknowledged. Reddit grew revenue 61% to $805 million in the second quarter and more than doubled net income, operating cash flow, and adjusted EBITDA, yet US daily actives ticked down sequentially, by about 300,000 on one analyst's count, as Google referrals turned choppy. "Visibility into referral traffic remains low," CEO Steve Huffman told analysts on the July 30 call. Meanwhile Q3 will be the first quarter without logged-in and logged-out DAU disclosure, which makes the direct-user story harder to audit right when it's part of the whole bull case.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Reddit. The Motley Fool has a disclosure policy.
Andrew Vollero, the chief financial officer of Reddit, Inc. (RDDT -0.62%), disposed of 10,319 shares of Class A Common Stock on August 20, according to an SEC Form 4 filing.
Transaction summaryMetricValueTransaction value$1.6 millionShares sold (direct)10,319Post-transaction shares (directly held)233,889Post-transaction value$35.16 millionTransaction value based on SEC Form 4 weighted average sale price ($151.71); post-transaction value based on the August 20 market close ($150.31).
Key questionsWhat was the specific nature of this share disposition?
The sale was non-discretionary, executed to cover tax obligations following a vesting event, and does not reflect the insider's view on the stock. These automated "sell-to-cover" arrangements are common among executives receiving equity-based compensation to manage the immediate fiscal impact of newly vested shares.What is the executive's remaining direct equity exposure?
Vollero maintains significant exposure to the company's performance through the direct ownership of 233,889 shares of Class A Common Stock. This remaining position represents 96% of his holdings prior to this filing, indicating a high level of continued equity alignment despite the tax-related disposition.How has the stock performed leading up to this transaction?
As of the August 20 transaction date, shares were priced at $150.31, reflecting a one-year return of -31%. While the transaction occurred during a period of negative 12-month momentum, the non-discretionary nature of the tax withholding means the timing was dictated by the vesting schedule rather than market conditions.What is the broader context of Reddit's business operations?
Reddit operates a San Francisco-based platform for diverse online communities organized by interest, facilitating dialogue through content sharing and direct engagement. The company currently maintains a market capitalization of $29.5 billion, supported by trailing-12-month revenue of $2.8 billion and net income of $871.1 million.Company OverviewMetricValueShare Price (as of market close 2026-08-21)$153.29Market Capitalization$29.5 billionRevenue (TTM)$2.8 billionNet Income (TTM)$871.1 millionCompany SnapshotReddit operates a community-driven internet platform that generates revenue through advertising, premium subscriptions, and API licensing, enabling users to engage in discussions, share content, and participate in thousands of specialized communities organized by shared interests.The company monetizes its user-generated content ecosystem primarily through targeted advertising placements and Reddit Premium subscriptions, while also licensing its data and API access to enterprise clients seeking consumer insights and research capabilities.Reddit's primary audience consists of global internet users spanning diverse demographics, with particular strength among younger audiences and professional communities, while enterprise customers include advertisers, market researchers, and technology companies seeking engagement and data access.Reddit is a leading community-driven content platform with 2,555 employees and a market capitalization of $29.5 billion, generating $2.8 billion in TTM revenue with $871.1 million in net income. The company's competitive advantage derives from its highly engaged user base, authentic peer-to-peer interactions, and the aggregated knowledge contained within its communities, positioning it as a valuable destination for both consumer engagement and enterprise data applications. Reddit's business model leverages network effects and community-driven content creation to maintain a defensible moat in the digital media and information services landscape.
What this transaction means for investorsVollero gave up 10,319 shares to cover taxes on a vest, trimming about 4% of his direct holdings, and his own guidance says more of this is apparently coming. He told investors on the company's latest earnings call, on July 30, that stock-based compensation and related taxes would run $140 million to $155 million in the third quarter as older grants priced at lower levels vest and are refreshed at higher ones, which puts more filings like this one on the calendar.
Meanwhile, Reddit put $235 million into buybacks last quarter at an average of roughly $157.57 a share, above where these shares changed hands, and operating cash flow crossed $1 billion on a trailing basis for the first time, so the money is there. The harder question is where it goes. "User acquisition spending needs stronger attention to improve returns," Vollero said on the same call, and Morgan Stanley trimmed its price target to $210 from $240 on Friday after the fact. Whether the rest of the repurchase authorization gets spent down at these prices is the clearest read on how management values its own stock from here.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Reddit. The Motley Fool has a disclosure policy.
Reddit uvedl, že chief legal officer Benjamin Seong Lee nechal při vestingu zadržet 3 887 akcií kvůli daním. Jde o automatickou transakci, nikoli o dobrovolný prodej.
Benjamin Seong Lee, the chief legal officer of Reddit, Inc. (RDDT -0.62%), disposed of 3,887 shares in a transaction on August 20, according to an SEC Form 4 filing.
Transaction summaryMetricValueShares sold (directly held)3,887Transaction value$590,000Post-transaction shares (directly held)71,536Post-transaction value$10.75 millionTransaction value based on SEC Form 4 weighted average sale price ($151.71); post-transaction value based on the August 20 market close ($150.31).
Key questionsWhat was the nature of the 3,887-share disposition?
The transaction was a non-discretionary withholding by Reddit to satisfy tax obligations tied to the vesting of equity awards, rather than a discretionary market sale by the insider.What is the status of the insider's remaining equity in the company?
Following this withholding, the insider continues to hold 71,536 shares directly, representing a total equity position valued at $10.75 million as of the August 20 market close.What is the current business and financial profile of Reddit?
Reddit manages an internet platform for community dialogue and content sharing, categorized by user interests. The San Francisco-based company serves as a platform for recounting experiences and engaging in direct replies within diverse online groups.Does this transaction signal a change in the insider's investment conviction?
Because the disposition was automatic and tied specifically to tax liabilities, the activity does not reflect a discretionary assessment of the company's valuation or its long-term prospects.Company OverviewMetricValueShare Price (as of market close 2026-08-21)$153.29Market Capitalization$29.5 billionRevenue (TTM)$2.8 billionNet Income (TTM)$871.1 millionCompany SnapshotReddit operates a community-driven internet platform that generates revenue through advertising, premium subscriptions, and API licensing, enabling users to engage in discussions, share content, and participate in thousands of specialized communities organized by shared interests.The company monetizes its user-generated content ecosystem primarily through targeted advertising placements and Reddit Premium subscriptions, while also licensing its data and API access to enterprise clients seeking consumer insights and research capabilities.Reddit's primary audience consists of global internet users spanning diverse demographics, with particular strength among younger audiences and professional communities, while enterprise customers include advertisers, market researchers, and technology companies seeking engagement and data access.Reddit is a leading community-driven content platform with a market capitalization of $29.5 billion, generating $2.8 billion in TTM revenue with $871.1 million in net income. The company's competitive advantage derives from its highly engaged user base, authentic peer-to-peer interactions, and the aggregated knowledge contained within its communities, positioning it as a valuable destination for both consumer engagement and enterprise data applications. Reddit's business model leverages network effects and community-driven content creation to maintain a defensible moat in the digital media and information services landscape.
What this transaction means for investorsLee had 3,887 shares withheld at vesting, among the smallest of Reddit officer filings dated August 20, all of which were relatively routine transactions. More importantly for long-term investors, Lee's role sits close to Reddit's fight against AI firms using its content without a license, and that is very much ongoing. On July 31, a Manhattan federal judge mostly refused to throw out the company's suit against Perplexity and the data broker SerpApi, keeping claims alive under the Digital Millennium Copyright Act. Meanwhile, a separate case against Anthropic, filed in June 2025, is still live.
Licensing sits inside Reddit's other revenue, which reached $43 million last quarter and grew 24% while advertising grew 64%. Lee has made that case publicly since suing Perplexity last October, when he said "AI companies are locked in an arms race for quality human content." It's not yet clear how that arms race will ultimately play out.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Reddit. The Motley Fool has a disclosure policy.
Key Takeaways Alphabet's Q2 Google ad revenues rose 14.4% to $81.63B, led by Search and YouTube growth. Gemini-powered AI Max has 500,000 advertisers and delivers 15% more conversions or value on average. Alphabet faces tougher Q3 Search comparisons and an FX headwind, but Gemini and YouTube remain supports. Alphabet (GOOGL - Free Report) is benefiting from strong momentum across its advertising business, supported by continued growth in Google Search and YouTube and deeper integration of Gemini across its ad infrastructure. This strength reinforces Alphabet’s competitive position in digital advertising against Reddit (RDDT - Free Report) and Meta Platforms (META - Free Report) .
Google advertising revenues increased 14.4% year over year to $81.63 billion in the second quarter of 2026. Google Search & other revenues jumped 17% to $63.27 billion, while YouTube advertising revenues increased 13% to $11.06 billion. Retail and finance were the biggest contributors to Search growth, while direct response and brand advertising supported YouTube.
Alphabet’s growing use of Gemini across its advertising infrastructure remains a key catalyst. Gemini helps understand longer and more detailed searches. In the second quarter of 2026, shopping ads achieved a 20% improvement in showing highly relevant advertisements. AI Max has already been adopted by 500,000 advertisers, with AI-powered campaigns generating an average 15% more conversions or value at a similar return on ad spend.
YouTube further strengthens GOOGL’s competitive position against Reddit and Meta Platforms through its combination of connected TV, Shorts, creators and direct-response advertising. Continued innovation in AI-driven targeting, shoppable formats and Search monetization should help Alphabet capture a greater share of advertising budgets despite intense competition.
Alphabet expects AI-driven improvements in Search to continue supporting user and advertiser experiences. However, third-quarter growth will face tougher Search comparisons and a slight foreign-exchange headwind, particularly across Search and YouTube ads. Despite the headwinds, continued Gemini integration, rising Search engagement and expanding YouTube monetization are expected to support advertising growth and help GOOGL compete effectively with RDDT and META.
How Competitors Fare Against GOOGLDespite Alphabet’s expanding portfolio, the company faces stiff competition from Reddit and Meta Platforms. Both companies are expanding their footprint in the rapidly growing digital ad market.
Reddit is benefiting from strong demand in its advertising business, which has become a key growth driver of the company’s impressive financial performance and future growth prospects. In the second quarter of 2026, Reddit’s advertising revenues grew 64% year over year to $762 million, outpacing even its impressive total revenue growth of 61%. This growth is broad-based, with strength across various sales channels, including large customers, mid-market and small and medium-sized businesses.
Meta’s strong growth in its advertising business has been noteworthy. In the second quarter of 2026, Meta reported $59.4 billion in ad revenues, up 27% year over year, with a 14% increase in ad impressions and a 12% rise in average price per ad. This growth is underpinned by Meta’s ability to deliver highly engaging experiences across its platforms, which include Facebook, Instagram, WhatsApp and Threads.
GOOGL’s Share Price Performance, Valuation & EstimatesAlphabet shares have risen 9.3% year to date, underperforming the broader Zacks Computer and Technology sector’s growth of 15.4%.
GOOGL Stock Performance
Image Source: Zacks Investment Research
GOOGL stock is trading at a premium, with a forward 12-month price/sales of 8.31X compared with the broader Computer and Technology sector’s 6.32X. Alphabet has a Value Score of D.
GOOGL Valuation
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 earnings is pegged at $20.51 per share, which has increased 1.73% over the past 30 days. This suggests 89.73% growth from 2025’s reported figure.
Alphabet currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AAOI ve 2. čtvrtletí utržila z 800G transceiverů 12,8 milionu USD, meziročně více než desetinásobek. Ve 3. čtvrtletí čeká téměř pětinásobný mezikvartální růst.
Key Takeaways AAOI's 800G revenues hit $12.8 million in Q2, or 11.9% of data-center revenues, up tenfold year over year. AAOI expects 800G revenues to grow nearly fivefold sequentially in Q3 as demand exceeds supply. AAOI plans to lift 800G and 1.6T capacity from 200,000 units monthly to over 650,000 by year-end. Applied Optoelectronics (AAOI - Free Report) is benefiting from accelerating demand for 800G optical transceivers, strengthening its position against Lumentum (LITE - Free Report) and Coherent (COHR - Free Report) in the AI-driven optical connectivity market. In the second quarter of 2026, AAOI’s 800G revenues reached $12.8 million, accounting for 11.9% of data center revenues. The figure increased more than tenfold year over year and more than doubled sequentially, highlighting the rapid adoption of its next-generation optical products.
Momentum is expected to accelerate further. AAOI expects 800G revenues to grow nearly fivefold sequentially in the third quarter of 2026, with management indicating that 800G will be the main contributor to sequential growth. Demand is currently running ahead of AAOI’s ability to supply products, suggesting that production capacity rather than customer demand is the primary near-term constraint. Forecast demand for 800G and 1.6T modules is expected to exceed production capacity through mid-2027.
AAOI is aggressively expanding manufacturing to capitalize on this opportunity. Manufacturing capacity for 800G and 1.6T products is expected to ramp up from 200,000 units per month to over 650,000 by year-end, and to 930,000 by the end of 2027, with most near-term incremental output expected to support 800G demand. Management also expects 800G revenues to reach roughly $217 million per month by mid-2027.
While Lumentum and Coherent remain formidable competitors with established customer bases and technology portfolios, AAOI’s strong demand for 800G optical transceivers and its strategic manufacturing expansion gives it a competitive edge. For the third quarter of 2026, Applied Optoelectronics expects revenues between $255 million and $290 million.
How Competitors Fare Against AAOIApplied Optoelectronics is facing stiff competition from Lumentum and Coherent in the optical networking market.
Lumentum is benefiting from strong demand for its optical components and systems, driven by the industry shift to AI workloads and increased data center connectivity. Key growth drivers include record shipments of 800G and next-generation 1.6T cloud transceivers, strong momentum in pump and EML laser sales and successful ramp-up of new technologies like near-packaged optics and co-packaged optics.
Coherent is benefiting from the strong demand in AI data center and communications markets, leading to record revenues and accelerated growth. Key drivers included strong customer bookings, expansion of production capacity, especially in 6-inch indium phosphide output, and the ramp-up of new products like advanced transceivers and optical circuit switching systems.
AAOI’s Share Price Performance, Valuation, and EstimatesApplied Optoelectronics shares have skyrocketed 208.7% in the year-to-date period, outperforming the Zacks Computer & Technology sector’s rise of 15.6% and the Zacks Electronics - Semiconductors increase of 27.5%.
AAOI Stock’s Performance
Image Source: Zacks Investment Research
Applied Optoelectronics shares are currently overvalued, as suggested by its Value Score of F. AAOI stock is trading at a premium with a trailing 12-month Price/Sales of 14.73X compared with the Electronics - Semiconductors industry’s 13.40X.
AAOI’s Valuation
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 earnings is pegged at 79 cents per share, which has decreased 16.84% over the past 30 days. This suggests 403.85% year-over-year growth.
AAOI’s Zacks RankApplied Optoelectronics currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
BlackRock ve druhém čtvrtletí koupil nový podíl v Allient za zhruba 128,77 mil. USD a drží asi 7,36 % společnosti. Allient zároveň oznámila čtvrtletní dividendu 0,04 USD na akcii.
BlackRock Inc. purchased a new stake in Allient Inc. (NASDAQ:ALNT – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,251,086 shares of the company’s stock, valued at approximately $128,774,000. BlackRock Inc. owned approximately 7.36% of Allient as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Royal Bank of Canada lifted its holdings in shares of Allient by 19.8% in the first quarter. Royal Bank of Canada now owns 111,570 shares of the company’s stock worth $2,453,000 after acquiring an additional 18,416 shares during the last quarter. AQR Capital Management LLC boosted its position in Allient by 8.0% in the first quarter. AQR Capital Management LLC now owns 53,661 shares of the company’s stock valued at $1,179,000 after buying an additional 3,979 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Allient by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,736 shares of the company’s stock worth $192,000 after buying an additional 390 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Allient by 8.1% during the first quarter. Empowered Funds LLC now owns 46,044 shares of the company’s stock worth $1,012,000 after buying an additional 3,458 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Allient by 9.9% in the 1st quarter. Jane Street Group LLC now owns 18,379 shares of the company’s stock valued at $404,000 after acquiring an additional 1,663 shares during the last quarter. Institutional investors own 61.57% of the company’s stock.
Wall Street Analyst Weigh In Several analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Allient from $95.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Wall Street Zen upgraded shares of Allient from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Zacks Research raised shares of Allient from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Jefferies Financial Group set a $80.00 price target on shares of Allient in a report on Tuesday, May 26th. Finally, Roth Capital restated a “buy” rating and issued a $70.00 price objective on shares of Allient in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $84.00.
Get Our Latest Analysis on ALNT Insider Activity at Allient In other Allient news, CEO Richard S. Warzala sold 70,000 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $113.58, for a total transaction of $7,950,600.00. Following the sale, the chief executive officer owned 1,499,106 shares in the company, valued at $170,268,459.48. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 15.00% of the company’s stock.
Allient Stock Down 3.0% Allient stock opened at $92.86 on Friday. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 54.62 and a beta of 1.61. The firm’s fifty day moving average price is $95.18 and its two-hundred day moving average price is $79.02. Allient Inc. has a 1-year low of $41.75 and a 1-year high of $118.67. The company has a current ratio of 3.42, a quick ratio of 1.95 and a debt-to-equity ratio of 0.56.
Allient (NASDAQ:ALNT – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.19. The company had revenue of $153.77 million for the quarter, compared to analyst estimates of $145.68 million. Allient had a net margin of 4.98% and a return on equity of 13.55%. On average, equities research analysts predict that Allient Inc. will post 2.73 earnings per share for the current fiscal year.
Allient Dividend Announcement The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be given a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.16 annualized dividend and a dividend yield of 0.2%. Allient’s payout ratio is 9.41%.
Allient Company Profile (Free Report)
Allient Inc, together with its subsidiaries, designs, manufactures, and sells precision and specialty controlled motion components and systems for various industries in the United States, Canada, South America, Europe, and Asia-Pacific. It offers brush and brushless DC motors, brushless servo and torque motors, coreless DC motors, integrated brushless motor-drives, gearmotors, gearing, modular digital servo drives, motion controllers, optical encoders, active and passive filters, input/output modules, industrial communications gateways, light-weighting technologies, and other controlled motion-related products, as well as nano precision positioning systems, servo control systems, and digital servo amplifiers and drives.
Further Reading Five stocks we like better than Allient 3 Financial Stocks Positioned for the Fed’s Next Move After Jackson Hole IREN’s AI Pivot Looks Real, But the Market Wanted a Faster Payoff After Earnings Boeing’s $131B F-15 Win: Mach 1 Momentum or Just Altitude? Okta Stock Surges 29%—Is $200 the Next Stop? Want to see what other hedge funds are holding ALNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allient Inc. (NASDAQ:ALNT – Free Report).
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It has been about a month since the last earnings report for Hexcel (HXL - Free Report) . Shares have lost about 8% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Hexcel due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important drivers.
Hexcel Corporation reported second-quarter 2026 adjusted earnings of 66 cents per share, which improved 32% from the year-ago quarter’s figure of 50 cents. The bottom line also surpassed the Zacks Consensus Estimate of 56 cents by 17.9%.
The company reported GAAP earnings of 64 cents per share, which surpassed the year-ago quarter’s earnings of 17 cents.
HXL’s Total SalesThe company’s net sales totaled $529.3 million, which beat the Zacks Consensus Estimate of $522 million by 1.5%. The top line also witnessed an improvement of 8% from the year-ago quarter’s figure of $489.9 million.
Hexcel’s Operational UpdateHexcel's gross margin was 26.1%, which increased 330 basis points from the prior-year quarter. The improvement can be attributed to favorable cost leverage driven by higher sales.
Selling, general and administrative expenses increased 9.8% year over year to $47.2 million.
Meanwhile, research and development expenses rose 21% year over year to $17.3 million.
HXL’s adjusted operating income was $72.6 million compared with $30 million in the year-ago period.
Contribution From Different MarketsCommercial Aerospace: Net sales increased 18.3% year over year to $346.6 million, driven by sales growth from Airbus A350, as well as Boeing 787 programs. This market contributed 66% to total revenues in the first half of 2026.
Defense, Space & Other: Net sales decreased 7.2% year over year to $182.7 million due to the divestment of the Austrian-based industrial business. This market contributed 34% to total revenues in the first half of 2026.
HXL’s Financial DetailsAs of June 30, 2026, Hexcel’s cash and cash equivalents were $62.2 million compared with $71 million as of Dec. 31, 2025.
The company’s long-term debt totaled $959.4 million as of June 30, 2026, down from $993 million as of 2025-end.
HXL’s cash flow from operating activities was $96.7 million against a cash outflow of $5.2 million in the prior year.
Hexcel’s 2026 GuidanceHexcel expects to generate sales in the range of $2.03-$2.13 billion for 2026. The Zacks Consensus Estimate is pegged at $2.08 billion, which lies above the midpoint of the company’s sales guidance.
HXL also expects its adjusted earnings per share to be in the range of $2.30-$2.40 for 2026. The Zacks Consensus Estimate is currently pegged at $2.26 per share, which is below the company’s guided range.
Hexcel expects to generate a free cash flow of more than $195 million in 2026. It also expects capital expenditure to be less than $100 million.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a flat trend in estimates review.
VGM ScoresCurrently, Hexcel has a great Growth Score of A, though it is lagging a lot on the Momentum Score front with a D. Charting a somewhat similar path, the stock was allocated a grade of C on the value side, putting it in the middle 20% for value investors.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook Hexcel has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Key Takeaways Oxford Industries expects EPS to rise 4.8%, even as quarterly revenues are projected to decline 2.5%.Tommy Bahama and sourcing efforts may support results, while Lilly Pulitzer and Johnny Was face pressure.Targeted pricing, DTC expansion and tight cost controls aim to protect margins amid tariff pressures. Oxford Industries, Inc. (OXM - Free Report) is likely to post a year-over-year increase in its bottom line when it reports second-quarter fiscal 2026 results on Sept. 3, after market close. The Zacks Consensus Estimate for quarterly earnings is pegged at $1.32 per share, indicating an increase of 4.8% from the prior-year number. The consensus estimate for earnings has been stable in the past 30 days.
The consensus estimate for quarterly revenues is pegged at $393.2 million, indicating a dip of 2.5% year over year.
In the last reported quarter, the company delivered an earnings surprise of 9.5%. It has a negative trailing four-quarter earnings surprise of 65.8%, on average.
Factors Likely to Have Impacted OXM’s Q2 EarningsOxford Industries’ quarterly results are expected to benefit from efforts to optimize its sourcing network, mitigate tariff-related cost pressures and safeguard margins. The company is also implementing targeted price increases on new products to offset higher costs while carefully managing consumer demand. Meanwhile, its continued focus on expanding direct-to-consumer sales across retail and e-commerce is expected to have supported margin improvement and strengthen customer engagement.
In addition, Oxford Industries is strengthening Tommy Bahama through improved assortments, stronger execution of key products, product innovation and lifestyle-focused storytelling, while focusing on expanding its women’s business. At Johnny Was, the company is pursuing a turnaround by tightening inventory purchases, reducing promotional activity, enhancing merchandise productivity and refining its assortment and marketing strategies. OXM is also rationalizing the Johnny Was store base by closing underperforming locations and creating a more productive and efficient retail footprint.
For Lilly Pulitzer, Oxford is improving merchandising and marketing by addressing entry-price gaps, product allocation, assortment and brand messaging, while responding more quickly to changes in demand. The company is also working to grow Beaufort Bonnet Company and Duck Head through stronger brand storytelling and broader distribution. The company is maintaining strict control over expenses and inventory, limiting discretionary spending and reducing unnecessary promotions to protect profitability. Such endeavors are likely to have aided OXM’s performance during the quarter under review.
On the flip side, Oxford Industries has been facing headwinds, including higher tariff-related costs and continued uncertainty around trade policies. The company is also dealing with cautious consumer spending and weaker discretionary demand amid economic and geopolitical uncertainty. Performance at Lilly Pulitzer remains under pressure, particularly in e-commerce, with merchandising gaps, product assortment issues, entry price points and brand messaging affecting sales.
Johnny Was is also experiencing weakness in its wholesale business, especially among specialty stores, while its direct-to-consumer sales remain soft. In addition, declining demand from specialty retailers and challenges at certain retail partners, including Saks Global, are weighing on wholesale performance. Such factors are likely to have hurt the company’s top-line performance during the quarter under review. The Zacks Consensus Estimate for Lilly Pulitzer and Johnny Was revenues is pegged at $84 million and $39.50 million, respectively, showing year-over-year decreases of 6.7% and 13%.
What the Zacks Model Unveils for OXMOur proven model does not conclusively predict an earnings beat for Oxford Industries this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Oxford Industries has an Earnings ESP of 0.00% and a Zacks Rank of 3. You can uncover the best stocks before they're reported with our Earnings ESP Filter.
OXM’s Valuation PictureFrom a valuation perspective, Oxford Industries has a forward 12-month price-to-earnings ratio of 13.50X, below the five-year high of 17.83X and the Textile - Apparel industry’s average of 14.86X.
The recent market movements show that OXM’s shares have gained 2% in the past six months against the industry's 7.5% decline.
Stocks With the Favorable CombinationHere are some companies, which according to our model, have the right combination of elements to beat on earnings this reporting cycle.
Boyd Gaming Corporation (BYD - Free Report) currently has an Earnings ESP of +0.43% and a Zacks Rank of 3. BYD is likely to register a top-line decrease when it reports third-quarter 2026 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $1 billion, indicating a 0.04% drop from the figure reported in the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for BYD’s third-quarter earnings is pegged at $1.74 a share, implying a 1.2% rise from the year-earlier quarter. BYD has a trailing four-quarter average earnings surprise of 5.4%.
Cintas Corporation (CTAS - Free Report) currently has an Earnings ESP of +0.09% and a Zacks Rank of 3. The Zacks Consensus Estimate for first-quarter fiscal 2027 earnings per share is pegged at $1.35, which implies 12.5% year-over-year growth.
The consensus estimate for quarterly revenues is pegged at nearly $3 billion, implying 9.2% year-over-year growth. CTAS has a trailing four-quarter earnings surprise of 1.8%, on average.
Carnival (CCL - Free Report) currently has an Earnings ESP of +0.32% and a Zacks Rank of 3. CCL is likely to register growth in its top line when it reports third-quarter fiscal 2026 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $8.4 billion, indicating a 2.6% increase from the figure in the year-ago quarter.
The consensus estimate for CCL’s earnings is pegged at $1.36 per share, implying a 4.9% drop from the year-ago quarter’s actual. CCL displays a trailing four-quarter earnings surprise of 18.2%, on average.
Canada Pension Plan Investment Board acquired a new stake in Regions Financial Corporation (NYSE:RF – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 282,601 shares of the bank’s stock, valued at approximately $8,535,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RF. WPG Advisers LLC increased its stake in shares of Regions Financial by 83.5% in the 2nd quarter. WPG Advisers LLC now owns 813 shares of the bank’s stock valued at $25,000 after purchasing an additional 370 shares during the last quarter. Keating Financial Advisory Services Inc. acquired a new stake in Regions Financial in the second quarter valued at about $25,000. Trust Co. of Vermont acquired a new stake in Regions Financial in the second quarter valued at about $26,000. Gables Capital Management Inc. bought a new position in Regions Financial in the second quarter valued at about $30,000. Finally, Darwin Wealth Management LLC acquired a new position in Regions Financial during the second quarter worth about $25,000. 79.39% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets RF has been the subject of a number of research reports. Stephens initiated coverage on shares of Regions Financial in a report on Monday, June 15th. They issued an “equal weight” rating and a $31.00 target price for the company. Jefferies Financial Group reiterated a “hold” rating and set a $32.00 price objective on shares of Regions Financial in a research report on Friday, July 17th. Evercore reissued an “underperform” rating and issued a $31.00 price objective on shares of Regions Financial in a research note on Monday, July 6th. Keefe, Bruyette & Woods boosted their target price on shares of Regions Financial from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Monday, July 20th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Regions Financial in a report on Friday, July 17th. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Regions Financial currently has an average rating of “Hold” and an average price target of $32.24.
Get Our Latest Stock Analysis on Regions Financial Regions Financial Stock Down 0.2% Regions Financial stock opened at $30.35 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81. Regions Financial Corporation has a 52-week low of $22.70 and a 52-week high of $32.47. The firm has a 50 day moving average price of $30.84 and a two-hundred day moving average price of $28.81. The firm has a market cap of $25.86 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.16 and a beta of 1.00.
Regions Financial (NYSE:RF – Get Free Report) last posted its quarterly earnings data on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the company posted $0.60 earnings per share. Regions Financial’s revenue for the quarter was up .1% compared to the same quarter last year. Equities analysts predict that Regions Financial Corporation will post 2.63 EPS for the current year.
Regions Financial Increases Dividend The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.0%. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial’s payout ratio is currently 43.27%.
Regions Financial Profile (Free Report)
Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.
In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.
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BlackRock Inc. bought a new stake in shares of Tennant Company (NYSE:TNC – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,698,829 shares of the industrial products company’s stock, valued at approximately $236,255,000. BlackRock Inc. owned about 15.84% of Tennant as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Bank of New York Mellon Corp bought a new position in Tennant during the second quarter valued at $28,562,000. Gamco Investors INC. ET AL raised its position in Tennant by 40.5% during the first quarter. Gamco Investors INC. ET AL now owns 706,400 shares of the industrial products company’s stock valued at $46,905,000 after purchasing an additional 203,802 shares during the period. Vision One Management Partners LP lifted its stake in shares of Tennant by 63.1% in the 3rd quarter. Vision One Management Partners LP now owns 291,864 shares of the industrial products company’s stock valued at $23,212,000 after purchasing an additional 112,873 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Tennant by 33.8% in the 4th quarter. Millennium Management LLC now owns 358,452 shares of the industrial products company’s stock worth $26,418,000 after purchasing an additional 90,611 shares during the period. Finally, Jane Street Group LLC boosted its holdings in shares of Tennant by 158.4% in the 4th quarter. Jane Street Group LLC now owns 94,461 shares of the industrial products company’s stock worth $6,962,000 after purchasing an additional 57,907 shares during the period. 93.33% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In A number of brokerages recently issued reports on TNC. Weiss Ratings upgraded Tennant from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Wall Street Zen downgraded shares of Tennant from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Zacks Research lowered shares of Tennant from a “strong-buy” rating to a “strong sell” rating in a report on Monday, August 10th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $91.00.
Check Out Our Latest Stock Analysis on Tennant Tennant Stock Performance Shares of Tennant stock opened at $70.00 on Friday. The company has a quick ratio of 1.37, a current ratio of 2.04 and a debt-to-equity ratio of 0.67. The stock’s fifty day moving average is $81.38 and its two-hundred day moving average is $78.54. Tennant Company has a 52 week low of $60.17 and a 52 week high of $91.93. The company has a market capitalization of $1.19 billion, a PE ratio of 68.63, a price-to-earnings-growth ratio of 2.62 and a beta of 1.13.
Tennant (NYSE:TNC – Get Free Report) last issued its earnings results on Wednesday, August 5th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.50). The company had revenue of $324.00 million for the quarter, compared to analysts’ expectations of $329.55 million. Tennant had a net margin of 1.50% and a return on equity of 13.32%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.49 earnings per share. Tennant has set its FY 2026 guidance at 3.800-4.450 EPS. As a group, analysts expect that Tennant Company will post 3.85 earnings per share for the current year.
Tennant Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Monday, August 31st. Tennant’s payout ratio is 121.57%.
Tennant declared that its board has initiated a share buyback plan on Monday, May 4th that allows the company to buyback 2,000,000,000,000 outstanding shares. This buyback authorization allows the industrial products company to purchase up to 11.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
Insider Transactions at Tennant In related news, Director Timothy R. Morse bought 1,500 shares of Tennant stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average cost of $68.18 per share, with a total value of $102,270.00. Following the completion of the transaction, the director owned 10,614 shares in the company, valued at $723,662.52. The trade was a 16.46% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Donal L. Mulligan purchased 8,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were bought at an average cost of $67.34 per share, with a total value of $538,720.00. Following the purchase, the director directly owned 16,000 shares of the company’s stock, valued at approximately $1,077,440. This represents a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.50% of the stock is owned by corporate insiders.
Tennant Company Profile (Free Report)
Tennant Company is a global provider of solutions that help keep facilities clean, safe and sustainable. The company designs, manufactures and markets a broad range of cleaning machines, chemicals and service programs that address the cleaning needs of customers in diverse industries, including manufacturing, warehousing, food and beverage, healthcare and education. Tennant’s product portfolio encompasses both ride-on and walk-behind floor scrubbers and sweepers, carpet extractors, power brushes, pressure washers and autonomous cleaning machines.
Founded in 1870 and headquartered in Minneapolis, Minnesota, Tennant has grown from a regional manufacturer into a multinational organization with operations in more than 70 countries and sales representation in over 100 markets worldwide.
Further Reading Five stocks we like better than Tennant Nutanix’s Rally Has a Bigger Story Than Earnings as AMD’s AI Bet Takes Shape SEC Probe Puts Wall Street Leverage Risk Back in Focus A Bearish-Dollar Options Surge Raises the Stakes for Warsh at Jackson Hole Five Below’s Turnaround Is Working—But Has the Stock Run Too Far? Want to see what other hedge funds are holding TNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tennant Company (NYSE:TNC – Free Report).
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UBS zvýšila cílovou cenu pro Signet Jewelers na 118 USD z 115 USD po silných předběžných výsledcích za Q4 a pozitivních trendech kolem Valentýna. Chewy a Crocs mezitím dostaly od analytiků opatrnější tón.
Wall Street analysts are raising flags and price targets on Chewy, Signet Jewelers, and Crocs all at once, but their levels of conviction tell very different stories about which turnaround is actually working.
Three consumer-facing companies are drawing fresh analyst attention as Wall Street reassesses turnaround trajectories across pet e-commerce, jewelry retail and casual footwear.
Morgan Stanley and TD Cowen trimmed price targets on Chewy (NYSE:CHWY | CHWY Price Prediction) while keeping Buy ratings intact. UBS nudged its target higher on Signet Jewelers (NYSE:SIG) following encouraging holiday data. And BTIG initiated coverage on Crocs (NASDAQ:CROX) with a cautious Neutral, acknowledging progress but flagging that the brand recovery still has runway ahead.
Taken together, the moves reflect a Street that sees real improvement in all three names but is calibrating patience differently across each.
Ticker Company Firm Old Rating → New Rating New Price Target One-Line Takeaway CHWY Chewy, Inc. Morgan Stanley Buy → Buy $50 Target trimmed but conviction holds on share-gain thesis CHWY Chewy, Inc. TD Cowen Buy → Buy $39 Lowered target, Buy maintained as e-commerce momentum builds SIG Signet Jewelers Ltd UBS Buy → Buy $118 (from $115) Valentine’s Day data and Q4 results support stable outlook CROX Crocs, Inc. BTIG N/A → Neutral No target Inventory reset complete, but North American recovery still in progress The Analyst’s Case Morgan Stanley and TD Cowen both trimmed their Chewy price targets but stopped well short of pulling their Buy ratings. The underlying thesis remains intact: Chewy is gaining share in a pet-retail market that analysts project will grow 4.6% annually through 2030. The bullish case rests on rising e-commerce adoption, strengthening autoship trends, and improving customer messaging. With the stock trading around $23.74 on Aug. 26 against Morgan Stanley’s $50 target, the implied upside is substantial even after the trim.
UBS raised its Signet price target to $118 from $115, citing preliminary Q4 results and positive Valentine’s Day trends. The firm expects those data points to keep consensus expectations stable as management prepares to deliver fiscal 2027 guidance. With shares trading around $84.59, Signet trades below the new target with a forward price-to-earnings ratio of just 9x, a notable discount for a brand portfolio that includes Kay Jewelers, Zales, Jared, Blue Nile and James Allen.
BTIG initiated Crocs at Neutral with no price target attached, a signal of genuine uncertainty rather than outright skepticism. The firm acknowledged that Crocs has reset inventory and is driving higher-quality direct-to-consumer growth, but sees the North American Crocs-brand recovery as a roughly year-long process still underway amid competition and continued caution from wholesale partners.
Company Snapshot and Recent Performance Chewy posted Q3 FY2026 revenue of $3.12 billion, up 8.3% year over year, with autoship sales climbing to $2.61 billion, representing 83.9% of net sales. Adjusted EBITDA grew 30.9% to $180.9 million, and the company generated free cash flow of $175.8 million. Despite the operational progress, the stock is down 20.88% year to date and trades well below its 52-week high of $48.62.
Signet has been the strongest price performer of the three. The company’s Q3 FY2026 results were a standout: revenue of $1.39 billion beat estimates by 1.6%, while adjusted EPS of $0.63 came in well ahead of the $0.29 consensus. Same-store sales rose 3% at Kay, Zales, and Jared, and free cash flow swung from -$75.4 million to +$31 million year over year.
Meanwhile, shares of Crocs traded around $122.65 on Wednesday and are up more than 41% YTD and up nearly 62% from their YTD low on March 20. The flagship Crocs brand posted international growth of 14.1% last quarter, though the HEYDUDE segment remains a drag, with revenue falling 16.9% in Q4 2025 and wholesale down 40.5%.
Why the Move Matters Now For Chewy, the target cuts from Morgan Stanley and TD Cowen reflect near-term caution on the stock’s trajectory rather than a change in the long-term view. The consensus analyst target sits at $44.27, and 21 of 27 covering analysts rate the stock Buy or Strong Buy with zero Sell ratings. The stock’s forward price-to-earnings ratio of 19x looks reasonable relative to that earnings growth, and the autoship model provides a degree of revenue predictability uncommon in retail.
Signet’s valuation is arguably the most compelling of the three. The forward P/E of 9x is low for a specialty retailer with a demonstrated ability to beat earnings estimates — Q3 FY2026 came in at a 162.5% surprise versus consensus. Management raised full-year guidance to a range of $6.70 to $6.83 billion in total sales and $8.43 to $9.59 in adjusted EPS. The $545 million remaining in share repurchase authorization adds another lever for shareholder returns.
Crocs’ BTIG Neutral signals that the stock is fairly valued at current levels given the uncertainty around HEYDUDE. The company is targeting $100 million in cost savings for 2026 and guiding for adjusted EPS of $12.88 to $13.35 for the full year. The forward P/E of 8x is cheap, but the HEYDUDE goodwill and trademark impairment charge of $737 million in 2025 is a reminder of how costly the acquisition has been.
Key Metrics at a Glance Signet trades with a forward P/E of 9x and pays a quarterly dividend of $0.32 per share, with approximately $545 million remaining in buyback authorization. Chewy’s autoship model accounts for 83.9% of net sales, providing a degree of revenue predictability uncommon in retail. Crocs management has guided for Q1 2026 revenue to decline between 5.5% and 3.5%, with full-year adjusted EPS guidance of $12.88 to $13.35.
Key Risks to Watch Chewy: The stock is trading below its 200-day moving average of $35.88 and has declined 21.52% over the past year. Slowing active customer growth or any deterioration in autoship retention could pressure the turnaround thesis. Signet: Management guided Q4 same-store sales conservatively at -5% to +0.5%, and the company faces tariff headwinds, softer consumer confidence, and rising gold costs that could compress margins in fiscal 2027. Crocs: HEYDUDE wholesale revenue fell 40.5% in Q4 2025, and the segment’s adjusted g320 basis points to 54.7%. Tariff and trade policy uncertainty adds another variable that could affect sourcing costs across both brands. This is not personalized financial advice. 247wallst.com and its writers do not own the stocks mentioned. Always do your own due diligence before investing.
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By Thomas Richmond · Updated Aug 25, 4:53pm ET · Published Aug 25, 3:14pm ET
Live UpdatesNewest first
That wraps up our initial coverage of Semtech’s Q2 results. Thank you for stopping by!
Semtech just reported earnings, with shares initially up 2% following the report. Here are the key numbers:
Revenue: $341.9 million vs. prior guidance of approximately $328 million Adjusted EPS: $0.71 vs. prior guidance of approximately $0.61 Adjusted Gross Margin: 54.5% Adjusted Operating Margin: 24.4% Guidance:
Revenue: $410 million, plus or minus $5 million Adjusted EPS: $1.05, plus or minus $0.03 Adjusted Gross Margin: 58.3%, plus or minus 100 basis points Adjusted Operating Margin: 31.0%, plus or minus 60 basis points Quick Read:
Semtech delivered record quarterly revenue, growing 33% year over year and exceeding its previous guidance, while adjusted EPS also came in well ahead of its outlook.
Accelerating bookings and record backlog support another major revenue increase in Q3, alongside sharp gross-margin and operating-margin expansion.
Tonight’s Q2 earnings report matters less than the Q3 outlook. Management has been conservative, beating its own guide in every recent quarter: versus a Q1 guide, and similar beats in the prior two periods.
Investors want a Q3 revenue guidance meaningfully above with EPS north of , adjusted gross margin holding above , and confident commentary on the ramp, data center bookings, and capacity expansion.
A bullish guidance would reinforce CEO Hong Hou’s call for accelerating data center growth and could unlock the analyst target. An in-line guidance, softer Signal Integrity, or cautious 1.6T timing would validate last week’s pullback.
Bull Case Data center acceleration: Management targets in Q2, with layering onto 800G strength. Beat streak: Semtech has posted , and Polymarket assigns a probability to another. Analyst conviction: , with a average target. Bear Case High bar: Guidance implies revenue growth; any softness could disappoint. GAAP quality: FY26 included in goodwill impairments. Insider selling: Net direction is across recent transactions. Volatile reactions: Shares dropped last week despite the AI narrative.
Semtech heads into tonight’s fiscal second-quarter report guiding for $328 million in revenue and adjusted EPS of about $0.61.
FiberEdge 800G deployments and initial 1.6T shipments make this quarter a proving ground for the company’s data-center acceleration story.
Shares fell 8% last week despite remaining up 136.66% over the past year. With an average analyst price target of $201.38 and Polymarket traders pricing a 73.5% probability of an earnings beat, guidance will carry more weight than the headline results.
Confident commentary around second-half 1.6T demand, capacity, and margins could send Semtech stock higher tonight.
Live coverage has ended. The full story is below.
Full CoverageThe story so far
Semtech (NASDAQ:SMTC) is expected to report Q2 FY27 earnings today at 4:05 PM ET. The connectivity chipmaker has become one of the year’s biggest AI-adjacent winners, with the stock up 144% in the past year.
Momentum Meets Execution Risk Q1 FY27 posted record revenue of $291.00 million, up 16% year over year, with adjusted diluted EPS of $0.51, up 34%. Signal Integrity revenue surged to $102.00 million from $73.50 million a year earlier, and data-center net sales hit a record $71.6 million, up 39% year over year.
Adjusted operating margin expanded to 20.4% from 19.0%, and free cash flow reached $28.00 million. SMTC trades near $125.83, up 64.08% YTD, though it gave back 21.6% in the past week alone as the AI-connectivity trade cooled.
Consensus and Guidance Metric Q2 FY27 Guide (Mid) Implied YoY FY27 Prior-Year Anchor Revenue $328.0M +27% FY26 rev $1.05B Adj. EPS $0.61 +49% FY26 EPS $1.71 Adj. Gross Margin 54.0% +100 bps vs Q1 Semi GM 62.1% Adj. Op. Margin 21.9% +150 bps vs Q1 Q1 20.4% What I’m Watching Tonight: Capacity, 1.6T Ramps, and LoRa’s Second Act Tonight, I’ll be watching four main things:
First, 1.6T monetization. Management called 800G FiberEdge the foundation of data-center growth and telegraphed initial 1.6T FRO shipments in Q2, with CopperEdge 1.6T already flowing to a US hyperscaler. Analysts will be looking for granularity on 1.6T mix and LPO or LRO qualification progress. Second, capacity. Hong Hou framed the environment bluntly, saying “This is a time capacity is king,” and Semtech is working to double or triple capacity with foundry and OSAT partners. GaN chip demand currently exceeds supply by about 3x. Third, LoRa. Management is targeting an all-time high with greater than 15% sequential LoRa growth in Q2, positioning LoRa Plus as an Edge AI enabler across smart utilities, buildings, and asset tracking. Fourth, operating leverage and portfolio moves. Q1 SG&A fell 200 basis points to 15.1% of sales while R&D climbed to 17.6%. Investors will be watching how the revenue mix absorbs the 1.6T ramp and whether the cellular-module divestiture reaches signing. Earnings History Quarter EPS Surprise 1-Day Move 1-Week Move 30-Day Move Q1 FY27 +12.48% -4.41% +1.32% -8.94% Q4 FY26 +2.02% -11.00% -14.02% +15.10% Q3 FY26 +7.87% +2.33% +2.34% +5.54% Q2 FY26 +2.17% -1.00% -1.35% +7.24% On average, shares moved 2.69% seven days after earnings over the past year.
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Thomas Richmond
Thomas Richmond is a financial writer and content strategist with 5+ years of experience covering stocks and financial markets. He has published over 250 articles focused on individual stock analysis, helping investors better understand business fundamentals, stock valuations, and long-term opportunities.
Thomas previously served as a Content Lead at TIKR, a stock research platform, where he helped scale the company’s blog to hundreds of articles per month and contributed to a weekly newsletter reaching more than 100,000 investors.
He specializes in breaking down complex companies into clear, actionable insights for everyday investors, with a focus on fundamentals-driven research.
His work has also been featured on platforms including Seeking Alpha and Sure Dividend.
Outside of work, Thomas enjoys weight lifting and soccer.
Abercrombie & Fitch ve 2. čtvrtletí překonala odhady zisku i tržeb a zvýšila výhled na fiskální rok 2026 nad očekávání. Akcie ve středu vyskočily o 31,6 %.
U.S. stocks were mixed, with the Nasdaq Composite gaining around 0.1% on Wednesday.
Shares of Abercrombie & Fitch Co (NYSE:ANF) rose sharply after the company reported better-than-expected second-quarter financial results and raised its FY26 guidance above estimates.
Abercrombie reported earnings of $4.17 per diluted share, beating the analyst consensus estimate of $1.99. Adjusted earnings rose from $2.32 per share a year earlier. Net sales increased 5% to $1.267 billion from $1.209 billion. That topped the $1.248 billion estimate and marked the company’s 15th consecutive quarter of sales growth. Comparable sales were flat.
Abercrombie raised its fiscal 2026 earnings forecast to $13.10 to $13.60 per share from $10.20 to $11. Analysts expect $10.71. The company now expects net sales of about $5.529 billion, above its previous range of $5.424 billion to $5.529 billion and the $5.464 billion estimate.
Abercrombie & Fitch shares jumped 31.6% to $143.40 on Wednesday.
Here are some other big stocks recording gains in today’s session.
Kanzhun Ltd (NASDAQ:BZ) shares surged 15.5% to $18.82. Kanzhun, on Tuesday, reported better-than-expected quarterly EPS results.Capricor Therapeutics Inc (NASDAQ:CAPR) gained 13% to $9.37.Semtech Corp (NASDAQ:SMTC) gained 12.1% to $142.99 after the company reported better-than-expected second-quarter financial results and issued third-quarter guidance above estimates.NIP Group Inc (NASDAQ:NIPG) gained 10.6% to $18.87.Zymeworks Inc (NASDAQ:ZYME) climbed 10.3% to $30.29. HC Wainwright & Co. analyst Robert Burns maintained the stock with a Buy and raised the price target from $51 to $55.Trending
Summit Therapeutics Inc (NASDAQ:SMMT) rose 9.4% to $14.62 after the company announced topline results from the randomized Phase III HARMONi-GI1 study met the key secondary endpoints of progression-free survival and objective response rate.TTM Technologies Inc (NASDAQ:TTMI) gained 9.3% to $122.80.Webtoon Entertainment Inc (NASDAQ:WBTN) gained 8.8% to $10.29.Acadia Healthcare Company Inc (NASDAQ:ACHC) shares surged 7.3% to $32.05.Comstock Resources Inc (NYSE:CRK) gained 6.5% to $15.09.Alignment Healthcare Inc (NASDAQ:ALHC) rose 6.1% to $14.42.American Eagle Outfitters Inc (NYSE:AEO) gained 5.3% to $17.62. AEO will report second quarter fiscal 2026 results on Sept. 9.Gap Inc (NYSE:GAP) gained 5% to $21.16. Gap will release quarterly earnings on Thursday, Aug. 27.Photo via Shutterstock
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Atreides Management LP acquired a new stake in Semtech Corporation (NASDAQ:SMTC – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 551,214 shares of the semiconductor company’s stock, valued at approximately $89,214,000. Semtech comprises approximately 0.6% of Atreides Management LP’s holdings, making the stock its 21st largest position. Atreides Management LP owned approximately 0.59% of Semtech at the end of the most recent quarter.
Several other large investors also recently modified their holdings of SMTC. Leonteq Securities AG increased its holdings in Semtech by 11.2% during the 1st quarter. Leonteq Securities AG now owns 1,171 shares of the semiconductor company’s stock worth $90,000 after purchasing an additional 118 shares during the last quarter. Stephens Inc. AR raised its holdings in Semtech by 3.3% in the fourth quarter. Stephens Inc. AR now owns 4,410 shares of the semiconductor company’s stock valued at $325,000 after acquiring an additional 142 shares in the last quarter. ABS Investment Management LLC bought a new position in Semtech during the 2nd quarter valued at $178,035,000. Captrust Financial Advisors boosted its stake in Semtech by 0.8% during the 4th quarter. Captrust Financial Advisors now owns 19,302 shares of the semiconductor company’s stock valued at $1,422,000 after acquiring an additional 162 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in Semtech by 1.5% during the 4th quarter. Cetera Investment Advisers now owns 11,737 shares of the semiconductor company’s stock worth $865,000 after acquiring an additional 177 shares in the last quarter.
Wall Street Analyst Weigh In A number of research firms recently commented on SMTC. Benchmark reiterated a “buy” rating on shares of Semtech in a research note on Thursday, August 20th. TD Cowen upped their price objective on Semtech from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Zacks Research downgraded Semtech from a “strong-buy” rating to a “hold” rating in a report on Friday, August 21st. Oppenheimer set a $200.00 target price on Semtech in a research report on Wednesday, May 27th. Finally, B. Riley Financial lifted their target price on Semtech from $165.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Fourteen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.44.
Get Our Latest Report on Semtech Semtech Price Performance NASDAQ SMTC opened at $140.80 on Thursday. The company has a 50-day moving average price of $135.94 and a two-hundred day moving average price of $118.62. Semtech Corporation has a 52 week low of $55.18 and a 52 week high of $177.35. The stock has a market cap of $13.12 billion, a price-to-earnings ratio of 93.25 and a beta of 2.35. The company has a current ratio of 2.37, a quick ratio of 1.62 and a debt-to-equity ratio of 0.86.
Semtech (NASDAQ:SMTC – Get Free Report) last released its quarterly earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.10. The company had revenue of $341.87 million for the quarter, compared to analysts’ expectations of $328.67 million. Semtech had a return on equity of 23.54% and a net margin of 13.11%.The business’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Analysts forecast that Semtech Corporation will post 1.81 EPS for the current year.
Key Stories Impacting Semtech Here are the key news stories impacting Semtech this week:
Positive Sentiment: Quarterly results beat expectations. Fiscal Q2 revenue rose 32.7% year over year to $341.9 million, exceeding the $328.7 million consensus estimate, while adjusted EPS of $0.71 topped expectations near $0.61 and increased from $0.41 a year earlier. Semtech Announces Second Quarter of Fiscal Year 2027 Results Positive Sentiment: Outlook substantially exceeded consensus. Semtech forecast fiscal Q3 revenue of approximately $410 million, compared with analysts’ expectations of about $359 million, and adjusted diluted EPS of roughly $1.05 versus consensus near $0.69. The guidance implies continued sequential growth and supported the stock’s advance. Semtech Dumps Cellular Business to Double Down on Data Centers Positive Sentiment: Data-center momentum is strengthening. Management highlighted a 1.6-terabit data-center product ramp, record backlog and a 91% increase in data-center sales, benefiting from AI infrastructure demand. Capacity expansion and tight GaN supply could support additional growth. SMTC Q2 Earnings Call Spotlights 1.6T Data Center Growth Positive Sentiment: Analyst sentiment improved. Multiple analysts raised their price targets following the earnings report, while Needham and Susquehanna reiterated Buy ratings with targets of $200 and $200–$215. Increased call-option activity also reflects bullish near-term positioning. Analysts Revise Forecasts After Upbeat Q2 Results Neutral Sentiment: Semtech’s planned cellular-business divestiture is intended to concentrate resources on data centers and create a structural margin benefit, though execution and the timing of the portfolio transition remain important risks. Negative Sentiment: Some recent disclosures show substantial insider selling, with executives reporting sales but no purchases over the past six months. The company also continues to post a negative GAAP net margin, factors that may temper enthusiasm despite the stronger outlook. Insider Transactions at Semtech In other news, Director Paul V. Walsh, Jr. sold 500 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $164.99, for a total value of $82,495.00. Following the completion of the transaction, the director owned 28,100 shares of the company’s stock, valued at approximately $4,636,219. This represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hong Q. Hou sold 2,000 shares of the firm’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $133.00, for a total value of $266,000.00. Following the transaction, the chief executive officer directly owned 64,799 shares in the company, valued at $8,618,267. This trade represents a 2.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 21,734 shares of company stock worth $3,133,986 over the last quarter. Insiders own 0.44% of the company’s stock.
Semtech Profile (Free Report)
Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.
A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.
Recommended Stories Five stocks we like better than Semtech Williams-Sonoma’s Quarter Gave Bulls More Than Just a Beat-and-Raise Alcoa’s Gallium Project Opens a New Door Beyond Aluminum Oura’s $16 Billion IPO Could Put a New Price on Wearable Tech Can Tesla’s Flying Roadster Distract From Its Real Risks? Want to see what other hedge funds are holding SMTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Semtech Corporation (NASDAQ:SMTC – Free Report).
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Archer Investment Corp ve 2. čtvrtletí koupila novou pozici v Semtech za zhruba 775 000 USD. Firma zároveň oznámila rekordní tržby ve výši 341,9 milionu USD a zisk na akcii (EPS) 0,71 USD, nad odhadem 0,61 USD.
Archer Investment Corp purchased a new position in Semtech Corporation (NASDAQ:SMTC – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 4,786 shares of the semiconductor company’s stock, valued at approximately $775,000.
A number of other hedge funds have also recently bought and sold shares of the business. Andar Capital Management HK Ltd bought a new stake in shares of Semtech in the second quarter worth $162,000,000. BlackRock Inc. bought a new position in Semtech during the 2nd quarter valued at $1,577,947,000. Think Investments LP acquired a new position in Semtech during the 3rd quarter worth $58,618,000. Ameriprise Financial Inc. grew its holdings in Semtech by 10.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock worth $321,040,000 after acquiring an additional 666,456 shares in the last quarter. Finally, Atreides Management LP bought a new stake in shares of Semtech in the 2nd quarter worth about $29,880,000.
Analysts Set New Price Targets Several analysts have weighed in on SMTC shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Semtech in a research note on Thursday, June 18th. Susquehanna boosted their price objective on shares of Semtech from $170.00 to $200.00 and gave the company a “positive” rating in a research report on Wednesday, May 27th. Robert W. Baird increased their price objective on shares of Semtech from $225.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday. Morgan Stanley raised their target price on shares of Semtech from $175.00 to $195.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Mizuho set a $225.00 target price on Semtech in a research note on Wednesday, May 27th. Fifteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Semtech presently has an average rating of “Moderate Buy” and a consensus target price of $204.71.
Get Our Latest Stock Report on Semtech Insider Buying and Selling at Semtech In other news, CFO Mark Lin sold 970 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $150.41, for a total transaction of $145,897.70. Following the completion of the transaction, the chief financial officer owned 34,896 shares of the company’s stock, valued at approximately $5,248,707.36. This represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Elliot Green sold 2,264 shares of Semtech stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $129.90, for a total value of $294,093.60. Following the sale, the executive vice president directly owned 8,611 shares in the company, valued at approximately $1,118,568.90. This trade represents a 20.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 21,734 shares of company stock valued at $3,133,986 in the last three months. Company insiders own 0.44% of the company’s stock.
Semtech News Summary Here are the key news stories impacting Semtech this week:
Positive Sentiment: Strong quarterly results: Semtech reported record sales of approximately $341.9 million, up about 33% year over year, while adjusted earnings of $0.71 per share exceeded the $0.61 consensus estimate. Net income reportedly expanded 89%. Why Semtech Stock Was Flying This Week Positive Sentiment: AI data-center momentum: Reports highlight roughly $100 million in AI data-center demand and identify connectivity as a potential bottleneck for AI infrastructure. This supports expectations for continued growth in Semtech’s analog and signal-integrity businesses. Analog Bets Pay Off: Semtech Shatters Records as AI Data Center Demand Hits $100M Positive Sentiment: Raised outlook and improving balance sheet: Coverage cites higher guidance, expanding margins, debt reduction, and expectations for stronger near-term growth. The company’s reported third-quarter fiscal 2027 EPS outlook is $1.02–$1.08. Semtech Stock Rallies on Strong Q2 Results and Raised Guidance Positive Sentiment: Analyst support: Northland Securities upgraded Semtech to Outperform with a $182 price target, while Needham reaffirmed its Buy rating. Other coverage points to a consensus target near $200, reinforcing the bullish narrative. Northland lifts Semtech rating Neutral Sentiment: New product opportunity: The LoRa Plus transceiver lineup could strengthen Semtech’s position in long-range IoT connectivity, although the financial contribution and adoption pace remain uncertain. What Does Semtech Gain From Its New LoRa Plus Transceivers? Negative Sentiment: Valuation and volatility risks: Semtech trades at a high earnings multiple, and its elevated beta makes the stock sensitive to profit-taking after a sharp advance. Unusually high trading volume indicates that investors are actively reassessing the shares following earnings. Semtech Sees Unusually-High Trading Volume After Strong Earnings Semtech Stock Performance Shares of SMTC opened at $131.17 on Friday. The company has a market capitalization of $12.24 billion, a PE ratio of 86.87 and a beta of 2.35. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.70 and a quick ratio of 1.62. Semtech Corporation has a one year low of $55.18 and a one year high of $177.35. The company’s fifty day moving average price is $135.08 and its 200 day moving average price is $119.10.
Semtech (NASDAQ:SMTC – Get Free Report) last issued its quarterly earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.61 by $0.10. Semtech had a return on equity of 21.74% and a net margin of 13.11%.The company had revenue of $341.87 million for the quarter, compared to the consensus estimate of $328.67 million. During the same period in the previous year, the business posted $0.41 EPS. The company’s revenue for the quarter was up 32.7% on a year-over-year basis. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. As a group, analysts expect that Semtech Corporation will post 1.81 earnings per share for the current year.
About Semtech (Free Report)
Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.
A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.
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Bausch + Lomb posouvá svou dvojúčinnou terapii suchého oka do fáze 3 po pozitivních výsledcích k 15. dni. BL1332 pokračuje ve fázi 2 po snížení oční bolesti ve studii fáze 1b.
Key Takeaways Bausch Lomb will move its dual-action dry eye therapy into Phase 3 after positive Day 15 results.BL1332 significantly reduced ocular pain in Phase 1b and is now being evaluated in a Phase 2 study.Bausch Lomb estimates peak sales of about $700M for the dry eye therapy and $1.4B for BL1332. Bausch + Lomb (BLCO - Free Report) recently announced that two first-in-class pharmaceutical pipeline candidates will advance to the next stages of clinical development following positive trial results. The programs include a dual-action eye drop for dry eye disease that is moving into Phase 3 and BL1332, an investigational treatment for ocular surface pain, which will continue in Phase 2.
Per Bausch + Lomb CEO Brent Saunders, helping people see better and live better starts with tackling challenges patients face every day. The trial results support the company’s approach to developing differentiated treatments aimed at addressing significant unmet needs and advancing the standard of care in eye health.
BLCO Stock Trend Following the NewsFollowing the announcement, shares of BLCO inched up 0.5% at yesterday’s close. Year to date, the stock has gained 1.4% compared with the industry’s 3.6% growth and the S&P 500’s 11.5% rise.
Bausch + Lomb could benefit from these advances through a stronger pharmaceutical pipeline and new growth opportunities beyond 2028. Progressing the dual-action dry eye therapy into Phase 3 and advancing BL1332 in ocular surface pain could expand the company’s addressable markets and diversify future revenue streams. With combined estimated peak sales exceeding $2 billion, successful development and commercialization could meaningfully strengthen long-term revenue growth while reinforcing Bausch + Lomb’s position in innovative eye health treatments.
BLCO currently has a market capitalization of $6.16 billion.
Image Source: Zacks Investment Research
More on BLCO’s Pipeline AdvancementsThe dual-action dry eye eye drop combines 5% lifitegrast, the active ingredient in XIIDRA, with perfluorohexyloctane (PFHO), the active ingredient in MIEBO. The therapy is designed to address both ocular surface inflammation and tear evaporation, two main contributors to dry eye disease. In a Phase 2 study involving 443 patients, the treatment did not meet its Day 29 primary endpoint of superiority over lifitegrast alone. However, a pre-specified Day 15 analysis showed a statistically significant reduction in total corneal fluorescein staining compared with lifitegrast alone.
At Day 15, 41.6% of patients receiving the combination achieved at least a three-unit improvement in corneal staining, compared with 18.8% for lifitegrast alone and 31.6% for PFHO alone. Based on these results, Bausch + Lomb plans to advance the therapy into Phase 3 with Day 15 as the primary endpoint. The company estimates peak sales potential of approximately $700 million.
The company is also progressing BL1332, a topical TRPV1 antagonist for ocular surface pain. In a Phase 1b study using a capsaicin-induced ocular pain model, BL1332 demonstrated a statistically significant reduction in pain intensity compared with vehicle. The treatment produced shorter pain duration and a higher rate of complete pain resolution, with no new safety signals identified.
BL1332 is now being evaluated in a Phase 2 study involving patients experiencing pain following photorefractive keratectomy surgery, with top-line results expected in the coming months. The company estimates peak sales potential of approximately $1.4 billion, assuming successful development and labeling across multiple ocular surface pain conditions.
Industry Prospects Favoring the MarketGoing by data provided by Fortune Business Insights, the global dry eye syndrome market is predicted to be valued at $8.55 billion in 2026 and is expected to witness a CAGR of 7.4% through 2034.
Factors such as the rising prevalence of dry eye disease, an aging global population, prolonged exposure to digital screens and continued advances in eye care treatments are expected to support market growth.
Other NewsBausch + Lomb recently announced the U.S. launch of the EyeGility Inserter, a preloaded intraocular lens (IOL) delivery system designed for its enVista family of IOLs. The system is available for enVista Aspire preloaded IOLs, while enVista Envy lenses integrated with the EyeGility Inserter are expected to be launched in the coming months.
Bausch + Lomb also introduced Orphia, an AI-powered digital health platform designed to simplify clinical workflows and allow eye care providers to focus more on patient care. Built as a brand-agnostic solution, the platform is compatible with a wide range of products, devices and treatments, making it suitable for eye care practices regardless of their preferred technologies.
Some better-ranked stocks from the broader medical space are Veracyte (VCYT - Free Report) , Globus Medical (GMED - Free Report) and West Pharmaceutical (WST - Free Report) .
Veracyte, currently flaunting a Zacks Rank #1 (Strong Buy), reported a second-quarter 2026 adjusted earnings per share (EPS) of 54 cents, which surpassed the Zacks Consensus Estimate by 25.6%. Revenues of $150.3 million beat the Zacks Consensus Estimate by 4.1%. You can see the complete list of today’s Zacks #1 Rank stocks here.
VCYT has an estimated earnings growth rate of 8.4% for 2026. The company’s earnings beat estimates in each of the trailing four quarters, the average surprise being 41.8%.
Globus Medical, currently carrying a Zacks Rank #2 (Buy), reported a second-quarter 2026 adjusted EPS of $1.34, which surpassed the Zacks Consensus Estimate by 19.6%. Revenues of $789.6 million beat the Zacks Consensus Estimate by 0.4%.
GMED has an estimated long-term earnings growth rate of 12.4%. The company’s earnings beat estimates in each of the trailing four quarters, the average surprise being 27.9%.
West Pharmaceutical, carrying a Zacks Rank #2 at present, reported second-quarter 2026 adjusted EPS of $2.37, which beat the Zacks Consensus Estimate by 13.9%. Revenues of $872.3 million surpassed the Zacks Consensus Estimate by 4.2%.
WST has an estimated long-term earnings growth rate of 16%. WST’s earnings surpassed estimates in the trailing four quarters, the average surprise being 17.4%.
Rubrik ve 2. čtvrtletí překonal odhady zisku i tržeb a zvýšil výhled pro fiskální rok 2027. Akcie v prodlouženém obchodování klesly o 9,73 % na 97 USD.
Rubrik Inc. (NYSE:RBRK) posted its second-quarter results after Thursday’s closing bell, beating analyst estimates on the top and bottom lines. Here’s a look inside the report.
RBRK stock is moving. Watch the price action here. Rubrik Q2 Details Rubrik reported quarterly earnings of 22 cents per share, which blew past the analyst consensus estimate of four cents, according to Benzinga Pro data.
Quarterly revenue came in at $427.26 million, which beat the analyst consensus estimate of $396.278 million. Subscription revenue was $407.2 million, a 37% increase compared to $297 million in the second quarter of fiscal 2026.
Subscription ARR grew 33% year-over-year to $1.66 billion as of July 31, 2026, with net new Subscription ARR up 35% year-over-year.
Cloud ARR grew 39% year-over-year to $1.48 billion as of July 31, 2026. Adjusted net new Cloud ARR grew 20% year-over-year in the second quarter of fiscal 2027.
“Mythos and frontier AI models have fundamentally changed the cybersecurity landscape. This new reality demands not only machine-speed cyber recovery but also autonomous runtime AI agent security,” said Bipul Sinha, Rubrik’s CEO.
“Rubrik’s Agentic Cyber Resilience delivers on both to enable trusted AI transformation. We are more confident than ever that we are in the early innings of the AI acceleration opportunity,” Sinha added.
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Looking AheadRubrik raised its fiscal 2027 adjusted EPS guidance to 47 cents to 53 cents, versus the 31 cent analyst estimate, and raised its revenue outlook to $1.685 billion to $1.693 billion, versus the $1.65 billion estimate.
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RBRK Stock Price Activity: According to data from Benzinga Pro, Rubrik stock was down 9.73% to $97 in Thursday’s extended trading.
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3D Systems uzavřela se Savannah River National Laboratory dohodu CRADA o vývoji 3D tisku pro pokročilou energetiku a národní bezpečnost. Zaměřuje se na materiály, optimalizaci procesů pomocí AI/ML i škálovatelnou výrobu pro jaderné systémy.
New CRADA drives joint development of advanced materials, AI/ML process optimization, equipment enhancements, and scalable production solutionsPositions additive manufacturing to support nuclear energy systems, energy infrastructure resilience, and national security missionsCreates pathway from collaborative research to workforce training, technology transfer and commercial-scale industrial applications ROCK HILL, S.C., Aug. 27, 2026 (GLOBE NEWSWIRE) -- 3D Systems (NYSE: DDD) today announced that it has entered into a Cooperative Research and Development Agreement (CRADA) with Savannah River National Laboratory (SRNL) to accelerate innovation in additive manufacturing (AM) for advanced energy generation and national security applications. The partnership centers on SRNL’s Advanced Manufacturing Collaborative (AMC), leveraging the facility’s unique position as South Carolina’s only national laboratory-operated site located on a public university campus.
Through this CRADA, SRNL and 3D Systems will jointly pursue advancements in materials development, equipment enhancements, artificial intelligence and machine learning-enabled process optimization, manufacturing systems, cybersecurity, and workforce development training. These efforts will drive the creation of next-generation AM materials, real-time process optimization tools, and scalable production solutions, along with the workforce that will enable the rapid adoption of advanced manufacturing technologies.
“We look forward to partnering with SRNL at the Advanced Manufacturing Collaborative and deploying 3D Systems’ leading AM technologies,” said Jeff Graves, President and CEO of 3D Systems. “This agreement demonstrates the impact and importance of high-quality 3D printing materials and technologies on key industrial markets, particularly energy and national security, and on developing the skilled workforce those markets require.”
A primary emphasis of the collaboration is the application of additive manufacturing to critical energy challenges, with particular relevance to nuclear energy and broader energy infrastructure. Additive manufacturing enables the fabrication of complex components from advanced alloys that are difficult or impossible to produce using conventional methods. This includes high-temperature nickel-based superalloys and other radiation-tolerant materials for intricate heat exchangers with internal cooling channels, reactor internals, pumps, valves, and other high-performance components essential to advanced nuclear systems. These capabilities support improved performance under extreme conditions, reduced material waste, greater design freedom, and enhanced supply-chain resilience, all essential for advanced nuclear reactor systems, fusion energy technologies, power generation equipment, and U.S. energy infrastructure modernization.
The partnership is timed to support a period of renewed investment and innovation across the U.S. nuclear and energy sectors. Advanced reactor designs, small modular reactors (SMRs), and related energy initiatives are driving demand for manufacturing approaches that can accelerate development cycles, reduce costs, and strengthen domestic production capacity. This collaboration is timely given the projected expansion of advanced nuclear capacity worldwide. According to the International Energy Agency, small modular reactor capacity could grow to roughly 40 gigawatts under current policies or up to 120 gigawatts in accelerated scenarios by 2050, supporting rising demand for reliable, low-carbon power in applications ranging from data centers and industrial heat to grid stability and energy security1. By combining 3D Systems’ commercial AM platforms and materials expertise with SRNL’s deep domain knowledge in nuclear materials, environmental stewardship, and energy resilience, the collaboration aims to help bridge laboratory innovation with industrial readiness.
“This collaboration positions SRNL and 3D Systems to deliver groundbreaking additive manufacturing technologies, strengthen U.S. manufacturing competitiveness, and drive forward the next era of AM innovation,” said Roderick Jackson, associate laboratory director for science, energy and innovation at SRNL.
While structured as a cooperative research and development agreement, the CRADA is intentionally designed to create a clear pathway from foundational research to technology transfer and commercial application. Cutting-edge 3D Systems equipment has been installed at the AMC and is supported by facility upgrades and resident AM subject-matter experts. This infrastructure will enable both world-class research and the demonstration of production-ready processes, positioning the partners to develop scalable manufacturing solutions with broader implications for high-value industrial markets including nuclear energy, aerospace and defense, and environmental technologies.
“This agreement underscores SRNL’s commitment to building world-class research capabilities, leveraging partnerships to enhance its competitive edge and solidify its presence as a leader in AM technologies,” said G. Jeremy Leong, director of the Advanced Manufacturing Collaborative at SRNL.
In addition to technology development, the partnership expands opportunities for training and developing the next generation of AM scientists, engineers, and technicians, strengthening the regional and national advanced manufacturing workforce.
About the Advanced Manufacturing Collaborative and SRNL
SRNL’s Advanced Manufacturing Collaborative opened just one year ago with a bold purpose and a clear vision as a nexus of innovation. Today, the AMC stands proudly as a place where industry, academia, and government come together to pioneer technologies that advance national security, environmental stewardship, and energy resilience. It has quickly become a home where collaboration thrives, integration drives impact, and ideas are transformed into purposeful solutions real world solutions for the nation. The AMC officially opened on August 7, 2025.
Savannah River National Laboratory is a multi-program federally funded research and development center managed and operated by Battelle Savannah River Alliance for the U.S. Department of Energy’s Office of Environmental Management. EM transforms the nation’s environmental liabilities into opportunities for innovation, job creation, and economic growth, while ensuring safe, secure and prosperous communities across America.
About 3D Systems
For 40 years, Chuck Hull’s curiosity and desire to improve the way products were designed and manufactured gave birth to 3D printing, 3D Systems, and the additive manufacturing industry. Since then, that same spark continues to ignite the 3D Systems team as we work side-by-side with our customers to change the way industries innovate. As a full-service solutions partner, we deliver industry-leading 3D printing technologies, materials, and software to high-value markets such as medical and dental; aerospace, space and defense; transportation and motorsports; AI infrastructure; and durable goods. Each application-specific solution is powered by the expertise and passion of our employees who endeavor to achieve our shared goal of Transforming Manufacturing for a Better Future. More information on the company is available at www.3dsystems.com.
Certain statements made in this release that are not statements of historical or current facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the timing of product launches, regulatory approvals, market opportunities, expected revenue impact, and shareholder value. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. In many cases, forward-looking statements can be identified by terms such as “believes,” “belief,” “expects,” “may,” “will,” “estimates,” “intends,” “anticipates” or “plans” or the negative of these terms or other comparable terminology. Forward-looking statements are based upon management’s beliefs, assumptions, and current expectations and may include comments as to the company’s beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the control of the company. The factors described under the headings “Forward-Looking Statements” and “Risk Factors” in the company’s periodic filings with the Securities and Exchange Commission, as well as other factors, could cause actual results to differ materially from those reflected or predicted in forward-looking statements. Although management believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements are not, and should not, be relied upon as a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at which such performance or results will be achieved. The forward-looking statements included are made only as of the date of the statement. 3D Systems undertakes no obligation to update or review any forward-looking statements made by management or on its behalf, whether as a result of future developments, subsequent events or circumstances or otherwise.
1 “The Path to a New Era for Nuclear Energy”. International Energy Agency, (iea) January 13, 2025
C3.ai čeká za čtvrtletí ztrátu 0,26 USD na akcii, což znamená meziroční zlepšení o 29,7 %, a tržby 51,46 mil. USD, což znamená meziroční pokles tržeb o 26,8 %. Analytici zároveň nevidí změnu konsenzu EPS za posledních 30 dní.
The upcoming report from C3.ai, Inc. (AI - Free Report) is expected to reveal quarterly loss of -$0.26 per share, indicating an increase of 29.7% compared to the year-ago period. Analysts forecast revenues of $51.46 million, representing a decline of 26.8% year over year.
The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
That said, let's delve into the average estimates of some C3.ai metrics that Wall Street analysts commonly model and monitor.
Analysts forecast 'Revenue- Professional services' to reach $3.07 million. The estimate indicates a year-over-year change of -69.2%.
Analysts' assessment points toward 'Revenue- Subscription' reaching $48.28 million. The estimate indicates a change of -19.9% from the prior-year quarter.
The consensus estimate for 'Gross margin- Professional services' stands at 51.7%. Compared to the present estimate, the company reported 77.0% in the same quarter last year.
Analysts expect 'Gross margin- Subscription' to come in at 27.9%. Compared to the current estimate, the company reported 31.0% in the same quarter of the previous year.
View all Key Company Metrics for C3.ai here>>>
Shares of C3.ai have experienced a change of +13.9% in the past month compared to the +4.3% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), AI is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Priovant oznámil, že brepocitinib ve fázi 3 VALOR přinesl u dermatomyozitidy rychlé a trvalé zlepšení kožních příznaků oproti placebu. Do 52. týdne dosáhlo 45,7 % pacientů „čisté“ nebo „téměř čisté“ kůže versus 21,8 % u placeba.
JAMA Dermatology publication includes results from VALOR skin-specific secondary endpoints, with rapid and durable improvements seen for brepocitinib 30 mg compared to placebo across multiple dimensions of cutaneous dermatomyositis (DM), including measurements of disease activity, itch, and skin-related quality of lifeIn patients with at least moderate itch at baseline, clinically meaningful improvements were observed as early as Week 4 in 54% of brepocitinib 30 mg patients versus 10% with placebo, increasing to 74% versus 33%, respectively, by Week 52Nearly half of brepocitinib 30 mg treated patients with moderate-to-severe skin disease at baseline achieved remission-level outcomes by Week 52, with 46% demonstrating “Clear” or “Almost Clear” skin on the Investigators Global Assessment (IGA) and 44% achieving functional skin remission on the Cutaneous Dermatomyositis Activity and Severity Index – Activity Score (CDASI-A), more than two-fold higher than with placebo (22% and 21%, respectively) Results complement the primary efficacy and safety results from the VALOR trial previously published in the New England Journal of Medicine and reinforce brepocitinib’s potential as an important treatment for signs and symptoms of skin disease in dermatomyositis, regardless of muscle involvement DURHAM, N.C., Aug. 26, 2026 (GLOBE NEWSWIRE) -- Priovant Therapeutics announced today the publication in JAMA Dermatology of skin-specific outcomes from the Phase 3 VALOR trial evaluating brepocitinib, a first-in-class oral TYK2 and JAK1 inhibitor, in adults with dermatomyositis (DM). Primary efficacy and safety results from the trial were previously published in the New England Journal of Medicine, including benefit on measures of skin disease, muscle strength, physical function, and steroid-sparing.
“Skin disease is a major and often underappreciated driver of morbidity in dermatomyositis, with an impact on quality of life that exceeds most other inflammatory skin diseases,” said Victoria P. Werth, MD, Professor of Dermatology and Medicine at the Perelman School of Medicine at the University of Pennsylvania, Chief of the Division of Dermatology at the Philadelphia Veterans Administration Hospital, and one of the lead investigators of the Phase 3 VALOR Trial. “The rapid and sustained improvements in cutaneous disease activity and itch seen in the VALOR trial, together with the achievement of functional skin remission for many patients with moderate-to-severe skin disease at baseline, represent a monumental finding for patients with dermatomyositis. These results are particularly meaningful given how difficult cutaneous dermatomyositis manifestations and symptoms have historically been to control with conventional therapies.”
In the analyses published in JAMA Dermatology, brepocitinib 30 mg produced rapid, durable and clinically meaningful improvements across multiple dimensions of cutaneous dermatomyositis, including skin disease activity, itch and skin-related quality of life. Treatment effects were evident as early as Week 4 and sustained through Week 52, with significantly more brepocitinib-treated patients achieving clinically meaningful improvements in skin disease activity and itch, as well as remission-level skin outcomes, compared with placebo. The table below summarizes the results published in JAMA Dermatology:
Brepocitinib 30 mgPlaceboDelta (95% CI)Disease Activity1Achievement of Clinically Meaningful CDASI-A Response (≥40% Improvement and ≥ 4-Point Improvement) at Week 5261.7%44.3%16.8% (1.1–32.5, P=0.04)Remission2Achievement of Gold Standard ≥ 2-category improvement on IGA to “Clear” / “Almost Clear” Skin at Week 5245.7%21.8%21.1% (2.5 to 39.7)Achievement of Functional Skin Remission (CDASI-A ≤ 5) at Week 5243.5%20.8%26.6% (7.6 to 45.5)Itch3Achievement of Clinically Meaningful Itch Reduction (≥ 2-point improvement in PP-NRS) by Week 454.0%9.5%47.3% (30.4 to 64.1)Achievement of Clinically Meaningful Itch Reduction (≥ 2-point Improvement in PP-NRS) by Week 5274.0%33.3%39.8% (18.9-60.6)Skin-Related QoL1Improvement in Skindex-164 by Week 412.90.911.9 (6.0 to 17.9) 1Among all participants
2Among participants with at least moderate skin disease at baseline
3Among participants with at least moderate itch at baseline
4Minimal clinically important difference defined as 10 units of improvement
Abbreviations: CDASI-A, Cutaneous Dermatomyositis Disease Area and Severity Index - Activity; CDA-IGA, Cutaneous Dermatomyositis Activity-Investigator’s Global Assessment; PP-NRS, Peak Pruritus-Numerical Rating Scale; Skindex-16, skin-related quality of life
Improvements in skin disease occurred alongside reductions in oral corticosteroid (OCS) use. Among patients receiving OCS at baseline, 61.7% of patients treated with brepocitinib 30 mg tapered to 2.5 mg/day (prednisone-equivalent) or less by Week 52 compared to 34.4% receiving placebo, while 41.7% discontinued OCS altogether compared with 23.4% receiving placebo. These findings support brepocitinib’s potential to deliver meaningful control of skin disease alongside substantial tapering of OCS, an important treatment goal in DM given the cumulative toxicity associated with systemic corticosteroid use.
As previously published in the New England Journal of Medicine, the VALOR trial enrolled a broad, representative DM population including patients with prior history of benign or malignant neoplasm and patients with multiple cardiovascular risk factors. Serious infections in the study were increased in brepocitinib 30 mg compared to placebo; these events resolved with medical management, and brepocitinib treatment was completed in most cases. New or recurrent malignancy, cardiovascular events, and thromboembolic events in the study occurred more frequently in the placebo arm than the brepocitinib 30 mg arm. The brepocitinib safety database across all studies includes over 2,000 patients and subjects and supports a safety profile consistent with the known safety profile of JAK inhibitors.
About the Phase 3 VALOR Study
The VALOR study was a global Phase 3 trial that enrolled 241 subjects with dermatomyositis across 90 sites. Subjects were randomized 1:1:1 to brepocitinib 30 mg, brepocitinib 15 mg, and placebo. Brepocitinib 30 mg demonstrated statistically significant and clinically meaningful improvement compared to placebo on the primary endpoint of Total Improvement Score (TIS) at Week 52. TIS is a composite endpoint of six core set measures of myositis disease activity. Benefit compared to placebo was seen as early as Week 4 and sustained at every visit thereafter through the end of the one-year double-blind treatment period. Brepocitinib 30 mg also demonstrated statistically significant and clinically meaningful improvement compared to placebo on all nine key secondary endpoints evaluated, including measures of muscle strength, skin disease activity, functional disability, and steroid tapering. More than two thirds of brepocitinib 30 mg patients achieved a Total Improvement Score of at least 40 (TIS40), twice the minimum clinically important difference. More than half achieved this TIS40 threshold while also reducing systemic corticosteroid use to ≤2.5 mg/day (prednisone-equivalent). Brepocitinib exhibited a safety profile consistent with the known safety profile of JAK inhibitors, with no new safety signals identified.
About Priovant
Priovant Therapeutics is a biotechnology company dedicated to developing novel therapies for autoimmune diseases with high morbidity and few available treatment options. The company's lead asset is brepocitinib, a first-in-class, selective inhibitor of TYK2 and JAK1. Through selective TYK2/JAK1 inhibition, brepocitinib distinctively suppresses key cytokines linked to autoimmunity—including type I IFN, type II IFN, IL-6, IL-12 and IL-23—with a single, targeted, once-daily oral therapy. Brepocitinib recently generated positive Phase 3 data in dermatomyositis. Brepocitinib is also being evaluated in a Phase 3 program in non-infectious uveitis, a Phase 3 program in cutaneous sarcoidosis, and a Phase 2b/3 program in lichen planopilaris. Priovant Therapeutics is a Roivant (Nasdaq: ROIV) company.
