Track market-moving stories before they get noisy

Marathon Digital has launched a small Bitcoin mining pilot in Utah powered by landfill methane gas, and while the project is not huge, it is a useful example of where mining infrastructure may be heading.

The project, built with Nodal Power, uses off-grid landfill methane to generate electricity for Bitcoin mining. Marathon’s announcement describes the facility as a 280 kW pilot, or 0.28 MW, with reported uptime of 92% and power costs around $0.03 per kWh.

That is not a massive hashrate deployment.

But scale is not really the point here. The point is that Marathon is testing whether waste methane, which would otherwise be an environmental liability, can be turned into a low-cost power source for mining.

That is the kind of energy story Bitcoin miners need more of, especially as political and environmental scrutiny around mining continues.

TL;DR Marathon Digital and Nodal Power launched a 280 kW landfill methane Bitcoin mining pilot in Utah. The project uses off-grid landfill gas to generate electricity. The facility is small, so the environmental impact should not be overstated, but the model is strategically interesting. Bitcoin Mining Needs Better Energy Narratives Bitcoin mining has always been tied to electricity.

That makes it easy to criticize and sometimes hard to explain. Critics focus on energy consumption, grid pressure, and emissions. Miners respond by pointing to stranded power, renewables, demand response, and the ability to monetize energy that would otherwise be wasted.

Both sides can be selective.

The reality is that mining’s environmental profile depends heavily on where the power comes from, how the facility interacts with the grid, and whether the project solves a real energy problem or simply consumes cheap electricity.

That is why landfill methane projects are interesting.

Methane is a potent greenhouse gas. If it escapes into the atmosphere, it creates environmental harm. Capturing it and using it for electricity can turn a waste problem into an energy source. If that electricity is off-grid and would not otherwise be used efficiently, Bitcoin mining can act as a flexible buyer.

That is the theory Marathon is testing.

Small Pilot, Bigger Implications A 280 kW project is tiny compared with large industrial mining sites.

Some major facilities run at tens or hundreds of megawatts. So this Utah deployment should not be presented as a major shift in Marathon’s overall energy footprint. It is a pilot, and a small one.

But pilots matter because they test operational viability.

Can the gas supply be reliable? Can the generators run efficiently? Can mining equipment operate with enough uptime? Are maintenance costs manageable? Does the power price stay competitive? Can the model be repeated at other landfill sites?

Those are practical questions, not marketing questions.

The reported 92% uptime and roughly $0.03 per kWh power cost suggest the pilot has enough promise to watch. If those economics can be repeated, landfill gas mining could become a useful niche for miners looking for cheap energy and stronger environmental positioning.

Why Off-Grid Power Is Attractive Off-grid power matters because it reduces the argument that miners are competing directly with households or businesses for electricity.

If a mining facility uses power that is stranded, wasted, or difficult to deliver to the grid, the economics look different. Mining becomes a buyer of last resort, or a way to monetize energy at the source.

That flexibility has always been one of Bitcoin mining’s stronger arguments.

Miners can locate near energy rather than near customers. They can shut down quickly if needed. They can operate in remote areas. They can turn irregular or stranded energy into revenue.

Landfill methane fits that model because the fuel source is location-specific and often underused.

If Bitcoin mining helps capture and consume methane that would otherwise be vented or flared, the environmental conversation becomes more complicated than “mining uses electricity.”

The Industry Still Needs Proof At Scale The challenge is scale.

One pilot does not transform Bitcoin mining’s environmental record. It does not prove every landfill gas project will work. It does not erase concerns about mining facilities that rely on fossil-heavy grids.

Marathon and other miners need to show that these models can scale, remain profitable, and produce measurable environmental benefits.

That last part is important. If miners want credit for emissions reduction, they need credible measurement. How much methane was captured? What would have happened without the project? How much electricity was produced? What emissions were avoided?

Without those numbers, the story can become vague.

Mining Is Becoming An Energy Infrastructure Business The bigger shift is that Bitcoin miners increasingly look like energy infrastructure operators, not just data-center companies.

They negotiate power contracts, work with stranded energy, participate in grid programs, evaluate generation sources, and compete with AI data centers for access to electricity. The winners may not simply be the miners with the newest machines. They may be the miners that understand energy markets best.

Marathon’s landfill gas pilot fits that direction.

It is small, but it shows the kind of practical experimentation that could shape the next mining cycle. Instead of only chasing cheap grid power, miners are looking for energy problems they can help monetize.

That may be the strongest long-term argument for Bitcoin mining.

Not that every mining operation is clean. Not that energy concerns do not matter. But that mining can sometimes turn wasted or stranded energy into economic value.

The Utah pilot will not settle the debate. It does, however, give the industry a better kind of example to point to.

This article is based on Marathon Digital’s announcement of its Utah landfill methane gas Bitcoin mining pilot.

This article was written by the News Desk and edited by Samuel Rae.

SkyWest, Inc. (SKYW) Q2 2026 Earnings Call July 23, 2026 4:30 PM EDT

Company Participants

Robert Simmons - Chief Financial Officer
Eric Woodward - Chief Accounting Officer
Russell A. Childs - CEO, President & Director
Wade Steel - President & COO- SkyWest Airlines

Conference Call Participants

Savanthi Syth - Raymond James & Associates, Inc., Research Division
Michael Linenberg - Deutsche Bank AG, Research Division
Duane Pfennigwerth - Evercore ISI Institutional Equities, Research Division
Thomas Fitzgerald - TD Cowen, Research Division
Catherine O'Brien - Goldman Sachs Group, Inc., Research Division

Presentation

Operator

Thank you for standing by and welcome to the SkyWest, Inc. Second Quarter 2026 Results Call. [Operator Instructions] I would now like to turn the call over to Rob Simmons, Chief Financial Officer. Sir, please go ahead.

Robert Simmons
Chief Financial Officer

Thanks, everyone, for joining us on the call today. As the operator indicated, this is Rob Simmons, SkyWest's Chief Financial Officer. On the call with me today are Chip Childs, President and Chief Executive Officer; Wade Steel, SkyWest Airlines President and Chief Operating Officer; and Eric Woodward, Chief Accounting Officer. I'd like to start today by asking Eric to read the safe harbor. Then I will turn the time over to Chip for some comments. Following Chip, I will take us through the financial results, then Wade will discuss the fleet and related flying arrangements. Following Wade, we will have the customary Q&A session with our sell-side analysts.

Eric?

Eric Woodward
Chief Accounting Officer

Today's discussion contains forward-looking statements that represent our current beliefs, expectations and assumptions regarding future events and are subject to risks and uncertainties. We assume no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. Actual results will likely vary and may vary materially from those anticipated, estimated or projected for a number of reasons. Some of

Something odd has happened to Apple (AAPL -1.27%) on Wall Street. The 47 analysts covering the stock still rate it a buy, on average. But their average 12-month price target is now about $319 -- slightly below the roughly $320 the stock trades for as of this writing. In other words, the analysts who recommend buying Apple are, collectively, forecasting that it goes nowhere for a year.

That's an unusual setup for one of the world's most valuable tech companies, and the timing sharpens it. Apple reports fiscal third-quarter results on July 30, one week from today.

So is Wall Street quietly saying the stock is fully valued? Or have the targets simply not caught up with a stock that has moved faster than the models tracking it? A little of both, I'd argue.

Image source: Apple.

What a below-price average actually says The average hides a wide spread. Price targets on Apple run from a low of $215 to a high of $400, and the median target of about $329 sits modestly above the current share price.

The ratings lean the same direction as the average rating suggests. Of the 47 analysts, 29 rate the stock a buy or better, 14 call it a hold, and only four recommend selling.

That combination of bullish ratings and flat targets usually shows up after a stock has made a big move in a short time. Apple qualifies. Shares trade about 59% above their 52-week low of $201.50, and they set a record high of $334.99 within the past week.

Price targets tend to trail a run like that, getting revised upward in steps as analysts refresh their models. Indeed, the revisions are still coming. Morgan Stanley just lifted its target to $364.

But it would be too easy to dismiss the flat average as pure lag. The targets also reflect a valuation that has expanded dramatically. Apple trades at about 40 times earnings, a big premium to where it sat for most of the past few years.

The business is backing it up for now. Revenue rose 17% year over year in the fiscal second quarter, and earnings per share climbed 22%. But a year ago, investors could buy the same company for a much smaller premium. The below-price average is Wall Street's way of saying most of that improvement is now in the price.

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The setup into July 30 That leaves next week's report carrying more weight than usual. Apple has scheduled its fiscal third-quarter results for Thursday, July 30. A 40-times-earnings multiple on a company sitting 4% from its record high leaves little cushion if growth cools.

There are reasons to expect the growth to hold. The company's recent momentum has been broad. iPhone revenue hit $57 billion in the March quarter, a record for the period and up 22% year over year, and the high-margin services business set an all-time revenue record of its own.

And Apple keeps adding potential catalysts. A reported device-leasing program with Klarna is reportedly set to launch on July 28 -- a move that could nudge iPhone revenue toward steadier, subscription-like behavior.

With that said, investors shouldn't count on the report to deliver another leg higher. When the average analyst target sits below the price, good news mostly confirms what's already priced in, while any wobble invites the stock to close the gap with the models. Apple doesn't need to disappoint for the stock to stall. It just needs to be ordinary for a quarter.

As for what I'd do, I wouldn't treat a below-price average target as a sell signal. Analyst targets chase the stock in both directions, and Apple remains one of the highest-quality businesses in the world, with staying power that's difficult to find anywhere else. It's a stock I'd continue holding for the long haul, and I'd still call it a top stock to buy and hold -- in moderation -- even at today's premium.

But the flat consensus is useful as a temperature check. It says the easy stretch of this run is probably over, and that returns from here likely have to be earned by the business quarter after quarter, because the valuation multiple has already done its expanding. Going into July 30, that's worth keeping in mind before expecting fireworks.

Nokia Oyj (NOK) Q2 2026 Earnings Call July 23, 2026 8:00 AM EDT

Company Participants

David Mulholland - Head of Investor Relations
Justin Hotard - President, CEO & Interim President of Mobile Infrastructure
Marco Wiren - Chief Financial Officer

Conference Call Participants

Terence Tsui - Morgan Stanley, Research Division
Simon Leopold - Raymond James & Associates, Inc., Research Division
Sami Sarkamies - Danske Bank A/S, Research Division
Alexander Duval - Goldman Sachs Group, Inc., Research Division
Ulrich Rathe - Bernstein Institutional Services LLC, Research Division
Jakob Bluestone - BNP Paribas, Research Division
Oliver Wong - BofA Securities, Research Division
Richard Kramer - Arete Research Services LLP
Sandeep Deshpande - JPMorgan Chase & Co, Research Division
Sébastien Sztabowicz - Kepler Cheuvreux, Research Division
Robert Sanders - Deutsche Bank AG, Research Division
Artem Beletski - SEB, Research Division
Felix Henriksson - Nordea Markets, Research Division

Presentation

David Mulholland
Head of Investor Relations

Good morning, ladies and gentlemen. Welcome to Nokia's Second Quarter 2026 Results Call. I'm David Mulholland, Head of Nokia Investor Relations. And today with me is Justin Hotard, our President and CEO; along with Marco Wiren, our CFO.

Before we get started, a quick disclaimer. During this call, we will be making forward-looking statements regarding our future business and financial performance, and these statements are predictions that involve risks and uncertainties. Actual results could, therefore, differ materially from the results we currently expect. Factors that could cause such differences can be both external as well as internal operating factors. We have identified such risks in the Risk Factors section of our annual report on Form 20-F, which is available on our Investor Relations website.

Within today's presentation, references to growth rates will be on a constant currency basis and other financial items will be based on our comparable reporting. Please note that our Q2 report and a presentation that accompanies this call are published on

Newmont Corporation (NEM) Q2 2026 Earnings Call July 23, 2026 5:30 PM EDT

Company Participants

Neil Backhouse - Group Head of Treasury & Investor Relations
Natascha Viljoen - CEO, President & Director
Brian Tabolt - Executive VP & CFO

Conference Call Participants

Fahad Tariq - Jefferies LLC, Research Division
Hugo Nicolaci - Goldman Sachs Group, Inc., Research Division
Daniel Morgan - Barrenjoey Markets Pty Limited, Research Division
Richard Garchitorena - Barclays Bank PLC, Research Division
Anita Soni - CIBC Capital Markets, Research Division
Lawson Winder - BofA Securities, Research Division
Joshua Wolfson - RBC Capital Markets, Research Division
Daniel Major - UBS Investment Bank, Research Division
Tanya Jakusconek - Scotiabank Global Banking and Markets, Research Division

Presentation

Operator

Hello, and welcome to Newmont's Second Quarter 2026 Results Conference Call. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Newmont's Group Head of Treasury and Investor Relations, Neil Backhouse. Neil, please go ahead.

Neil Backhouse
Group Head of Treasury & Investor Relations

Thank you, Holly. Hello, everyone, and thank you for joining Newmont's Second Quarter 2026 Results Conference Call. Joining me today are Natascha Viljoen, our President and Chief Executive Officer; Brian Tabolt, our newly appointed Executive Vice President and Chief Financial Officer; as well as other members of our management team who will be available to answer questions at the end of the call. Before we begin, please take a moment to review our cautionary statement shown here and refer to our SEC filings, which can be found on our website.

With that, I'll turn the call over to Natascha.

Natascha Viljoen
CEO, President & Director

Thank you, Neil, and hello, everyone. To begin today's call, I'd like to start by acknowledging the executive leadership appointments we announced last month, reflecting the depth and talent we have within Newmont and reinforcing our commitment to

Rocket Lab (RKLB +0.43%) is on a roll -- not that you could tell from the stock price.

Shares of the tiny, U.S.- and New Zealand-based Space Exploration Technologies lookalike are down 32% so far this month. Last month, however, Rocket Lab got some great news from the folks down at NASA: two new contracts to launch sun- and Earth-science missions for the space agency.

Plus, future contracts could help generate up to $300 million for Rocket Lab.

Image source: Rocket Lab.

Two wins for Rocket Lab The missions in question, announced June 25, are called PolSIR (Polarized Submillimeter Ice-cloud Radiometer) and TSIS-2, and both are due to launch next year (meaning revenue generated from the missions will fall within a single year).

Rocket Lab will launch PolSIR on two separate Electron small rockets, each carrying an identical CubeSat. Its mission: to study ice clouds at high altitudes in the tropics and subtropics. The data they generate will help NASA make more accurate predictions of global weather patterns.

TSIS-2 (Total and Spectral Solar Irradiance Sensor-2) has a different mission. Here, a single Electron rocket will carry a single satellite to "the top of Earth's atmosphere," where it will study both the sun's brightness and how solar energy is distributed across ultraviolet, visible, and infrared wavelengths. NASA hopes this data will help it measure the health of Earth's ozone layer and predict ground-level air quality.

What the missions mean for Rocket Lab in dollars and cents Specific price tags weren't provided for either mission, so they're probably small -- but here's the upper limit: NASA noted that both missions run under the aegis of its Venture-Class Acquisition of Dedicated and Rideshare (VADR) launch services contract, which permits NASA to buy launch services valued up to $300 million total over a 10-year ordering period.

If I were to venture a guess, I suspect Rocket Lab's actual take from these two missions will approximate its usual Electron rocket launch cost. We've seen those recently priced as high as $9.5 million, so times three launches for the three satellites involved in the two missions equals $28.5 million, give or take.

It's not a large fortune -- but, when combined in a single year, it's enough to raise Rocket Lab's annual revenue by about 4%.

More importantly, winning the NASA VADR contracts demonstrates momentum at Rocket Lab, setting the stage for Rocket Lab to bring in even more business. Announcing PolSIR and TSIS-2, Rocket Lab was quick to point out that it also has "an astrophysics mission to study the formation and evolution of galaxies" in the works (Aspera) mission, as well as a demonstration of in-space refueling technologies (LOXSAT) later this year, that will use an Rocket Lab Photon spacecraft as its carrier -- yielding revenue both for the launch and for the satellite being launched.

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Rocket Lab's stock price may be down, but its prospects keep going up.

Ameris Bancorp (ABCB - Free Report) came out with quarterly earnings of $1.6 per share, missing the Zacks Consensus Estimate of $1.66 per share. This compares to earnings of $1.59 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -3.61%. A quarter ago, it was expected that this bank would post earnings of $1.54 per share when it actually produced earnings of $1.63, delivering a surprise of +5.84%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Ameris Bancorp, which belongs to the Zacks Banks - Southeast industry, posted revenues of $334.36 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 3.79%. This compares to year-ago revenues of $301.65 million. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Ameris Bancorp shares have added about 21% since the beginning of the year versus the S&P 500's gain of 9.6%.

What's Next for Ameris Bancorp?While Ameris Bancorp has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Ameris Bancorp was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.70 on $329.5 million in revenues for the coming quarter and $6.68 on $1.29 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Southeast is currently in the top 31% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the broader Zacks Finance sector, Navient (NAVI - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 6.

This student loan servicing company is expected to post quarterly earnings of $0.19 per share in its upcoming report, which represents a year-over-year change of -9.5%. The consensus EPS estimate for the quarter has been revised 18.2% lower over the last 30 days to the current level.

Navient's revenues are expected to be $129.07 million, down 1.5% from the year-ago quarter.

For the quarter ended June 2026, Phillips Edison & Company, Inc. (PECO - Free Report) reported revenue of $189.62 million, up 6.7% over the same period last year. EPS came in at $0.69, compared to $0.10 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $190.47 million, representing a surprise of -0.45%. The company delivered an EPS surprise of +1.47%, with the consensus EPS estimate being $0.68.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Phillips Edison & Company performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Revenues- Rental income: $184.45 million versus the three-analyst average estimate of $183.54 million. The reported number represents a year-over-year change of +6.3%.Revenues- Other property income: $1.11 million versus the three-analyst average estimate of $1.08 million. The reported number represents a year-over-year change of +14.9%.Revenues- Fees and management income: $4.05 million versus $3.51 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +22.3% change.Net income (loss) per share- diluted: $0.33 versus $0.19 estimated by two analysts on average.View all Key Company Metrics for Phillips Edison & Company here>>>

Shares of Phillips Edison & Company have returned +2.9% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

The Hartford Insurance Group (HIG - Free Report) reported $5.23 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 6.8%. EPS of $3.42 for the same period compares to $3.41 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $5.19 billion, representing a surprise of +0.75%. The company delivered an EPS surprise of +9.62%, with the consensus EPS estimate being $3.12.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how The Hartford Insurance Group performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Business Insurance- Underlying combined ratio: 89.3% compared to the 88.6% average estimate based on six analysts.Personal Insurance - Loss and loss adjustment expense ratio: 63.8% compared to the 70.5% average estimate based on six analysts.Personal Insurance - Underlying combined ratio: 86.3% versus 87.8% estimated by six analysts on average.Personal Insurance - Combined ratio: 90.1% compared to the 96.5% average estimate based on six analysts.Revenue- Earned Premium- Personal Insurance: $905 million versus the six-analyst average estimate of $914.38 million. The reported number represents a year-over-year change of -2.8%.Revenue- Property & Casualty- Net investment income: $645 million versus the six-analyst average estimate of $585.92 million. The reported number represents a year-over-year change of +22.6%.Employee Benefits- Total revenues: $1.91 billion versus $1.83 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +8.4% change.Employee Benefits- Net investment income: $137 million compared to the $134.52 million average estimate based on six analysts. The reported number represents a change of +16.1% year over year.Employee Benefits- Premiums and other considerations: $1.77 billion compared to the $1.69 billion average estimate based on six analysts.Business Insurance- Fee income: $12 million compared to the $11.22 million average estimate based on six analysts. The reported number represents a change of +9.1% year over year.Business Insurance- Earned premiums: $3.66 billion compared to the $3.67 billion average estimate based on six analysts. The reported number represents a change of +7% year over year.Revenue- Fee income- Personal Insurance: $7 million versus $8.17 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -12.5% change.View all Key Company Metrics for The Hartford Insurance Group here>>>

Shares of The Hartford Insurance Group have returned +6.4% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

Hilltop Holdings (HTH - Free Report) came out with quarterly earnings of $0.63 per share, beating the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $0.57 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +50.00%. A quarter ago, it was expected that this insurance holding compnay would post earnings of $0.5 per share when it actually produced earnings of $0.64, delivering a surprise of +28%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Hilltop Holdings, which belongs to the Zacks Banks - Southeast industry, posted revenues of $315.81 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 5.01%. This compares to year-ago revenues of $303.31 million. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Hilltop Holdings shares have added about 12.4% since the beginning of the year versus the S&P 500's gain of 9.6%.

What's Next for Hilltop Holdings?While Hilltop Holdings has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Hilltop Holdings was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.66 on $324.71 million in revenues for the coming quarter and $2.33 on $1.25 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Southeast is currently in the top 31% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the broader Zacks Finance sector, Hippo Holdings Inc. (HIPO - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on July 30.

This company is expected to post quarterly earnings of $0.20 per share in its upcoming report, which represents a year-over-year change of -69.2%. The consensus EPS estimate for the quarter has been revised 23.8% lower over the last 30 days to the current level.

Hippo Holdings Inc.'s revenues are expected to be $145.2 million, up 23.8% from the year-ago quarter.

3 Dividend Leaders Set for Strong Growth in 2025Packaging Corporation of America NYSE: PKG reported lower adjusted earnings for the second quarter of 2026 compared with the prior year, even as sales and EBITDA increased, with management citing strong corrugated demand, higher freight costs and contributions from the recently acquired Greif containerboard business.

Chairman and Chief Executive Officer Mark Kowlzan said the company reported second-quarter net income of $192 million, or $2.15 per share. Excluding special items, net income was $210 million, or $2.35 per share, compared with $224 million, or $2.48 per share, in the second quarter of 2025. Net sales rose to $2.5 billion from $2.2 billion a year earlier, while total company EBITDA excluding special items increased to $486 million from $451 million.

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Packaging Corporation of America: Buy The DipKowlzan said special items totaled $0.20 per share and were primarily related to facility closure costs and write-offs, Wallula Mill restructuring charges, and expenses tied to the acquisition and integration of the Greif containerboard business.

Excluding special items, earnings declined by $0.13 per share from the year-ago quarter. Kowlzan said legacy business earnings were down $0.27 per share, partly offset by $0.14 per share of earnings from the acquired Greif business. The legacy decline was driven by several cost pressures, including higher freight, corporate and other expenses, lower price and mix in packaging, higher labor and operating costs, and higher fiber costs. Those headwinds were partly offset by higher production and sales volumes in packaging and paper, lower maintenance outage expense, and improved paper pricing and mix.

Packaging Corporation of America: A Total Package to Buy and Hold“We exceeded our guidance of $2.33 on the strength of our corrugated volumes, which helped drive cost favorability in areas that we could control and offset higher than forecast costs for freight, recycled fiber, and employee benefits,” Kowlzan said. He added that Greif’s earnings contribution also exceeded expectations.

Packaging Demand Remains Strong In the packaging segment, EBITDA excluding special items was $489 million on sales of $2.3 billion, resulting in a margin of 21.1%. That compared with EBITDA of $453 million on sales of $2 billion, or a 22.6% margin, in the second quarter of 2025.

The company produced 1.415 million tons of containerboard during the quarter. Legacy mills produced 1.209 million tons, roughly even with the first quarter and 14,000 tons above the prior-year period. Acquired mills produced 206,000 tons, which Kowlzan said significantly exceeded their production in any quarter since the acquisition.

President Thomas Hassfurther said corrugated operations “turned in yet another very strong quarter.” Shipments were up more than 24% in total and per day versus last year, with the legacy business up 4.1% and achieving an all-time record for total quarterly shipments. Hassfurther said demand was very strong across the company’s customer base, with particular strength in e-commerce related to Amazon Prime Day and related customers.

Hassfurther said domestic containerboard and corrugated products prices and mix were $0.11 per share below the second quarter of 2025 but $0.04 per share above the first quarter of 2026. He said the company began realizing the first announced price increase in June, expects most of that increase to roll in during July, and expects the second increase to begin in August with realization split between the third and fourth quarters.

The company reduced export containerboard sales during the quarter to build inventory for its corrugated plants. Export volume was 30,000 tons below the first quarter and 22,000 tons below the second quarter of 2025. Hassfurther said the company was able to meaningfully increase inventories in early July and described the current market environment in one word during the question-and-answer session: “tight.”

Greif Integration Exceeds Expectations Management said the acquired Greif business contributed $0.14 per share to earnings in the quarter, above expectations. Chief Financial Officer Kent Pflederer said $0.04 of that contribution came from a depreciation benefit tied to measurement-period adjustments to the valuation of fixed assets on the opening balance sheet. Excluding that benefit, Pflederer said the outperformance was driven largely by higher volumes and strong operational performance.

Hassfurther said PCA now views the acquired business as fully integrated and is operating it as one unit with the legacy business. Pflederer said the transition services agreement with Greif will run through the end of the year as the company brings remaining corrugated plants and one mill-related system onto PCA systems. He said three more plants are expected to transition in the third quarter and the final facilities in the fourth quarter.

Pflederer said PCA is on track, and possibly ahead, on Greif-related synergies. He cited mill production improvements and better reliability, as well as integration benefits that are beginning to show in the numbers. He said the company is “probably” on track to exceed a $30 million run rate by year-end.

Paper Segment Posts Higher Margins The paper segment reported EBITDA excluding special items of $39 million on sales of $157 million, for a 24.9% margin. That compared with EBITDA of $30 million on sales of $146 million, or a 20.8% margin, in the second quarter of 2025.

Kowlzan said paper sales volume was about 3% below the first quarter but about 6% above the second quarter of 2025. Prices and mix were up 2% from both the first quarter of 2026 and the prior-year quarter. He said the company continues to implement previously announced paper price increases and expects to benefit in the third quarter.

Costs, Outages and Capital Spending in Focus Pflederer said cash provided by operations was $376 million, and free cash flow was $170 million after $206 million of capital expenditures. Other cash uses included dividend payments of $111 million, cash tax payments of $78 million and net interest payments of $54 million. PCA did not repurchase shares during the quarter.

The company continues to forecast 2026 capital expenditures of $840 million to $870 million and depreciation, depletion and amortization of about $710 million, excluding special items. Pflederer said outage expense was $0.34 per share in the second quarter and is now estimated at $0.30 in the third quarter and $0.63 in the fourth quarter, for a full-year total of $1.41 per share.

Kowlzan said operational performance in the quarter was mixed because of production interruptions from utility power outages across the mill system. In response to a question, Pflederer said the outages likely affected production by about 10,000 tons. Kowlzan said the disruptions reinforced the need for gas turbine projects at three key facilities, which he said should reduce or eliminate reliance on the grid at those mills.

Kowlzan said a gas turbine project at the Jackson Mill is in construction and is targeted to come online next year in coordination with Jackson’s annual outage. Projects at Riverville, Virginia, and DeRidder, Louisiana, are moving through environmental permitting, with Kowlzan indicating those units could come online in the first to middle part of 2028.

Third-Quarter Guidance Calls for Higher Earnings Looking ahead, Kowlzan said PCA expects continued strong packaging demand, increased corrugated products volume due to one additional shipping day, and higher containerboard and corrugated prices as price increases are implemented. He also said the company expects one more day of mill operation, lower production impact from packaging maintenance outages and better operating performance across its containerboard mill system.

In paper, PCA expects lower volume and higher prices due to maintenance at International Falls and continued price increase implementation. Freight costs are expected to remain around the elevated levels seen in May and June, while recycled fiber prices are continuing to rise. The company also expects higher chemical and purchased electricity prices, with wood fiber and natural gas relatively flat.

PCA guided for third-quarter earnings of $2.91 per share, excluding special items.

About Packaging Corporation of America (NYSE:PKG)Packaging Corporation of America NYSE: PKG is a leading North American manufacturer of containerboard and corrugated packaging products. The company produces a range of paper-based packaging solutions including linerboard, corrugating medium, corrugated shipping containers, retail-ready packaging and point-of-purchase displays. In addition to core packaging products, Packaging Corporation of America offers packaging design, testing and supply-chain services intended to optimize protection, cost and sustainability for customers.

Headquartered in Lake Forest, Illinois, the company operates an integrated network of mills and corrugated manufacturing facilities across the United States and serves customers throughout North America in industries such as e-commerce, grocery and food & beverage, consumer packaged goods and industrial markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

Should You Invest $1,000 in Packaging Corporation of America Right Now?Before you consider Packaging Corporation of America, you'll want to hear this.

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3 Swing Trades for Q3 Earnings SeasonOceaneering International NYSE: OII reported second-quarter 2026 results that topped the high end of its adjusted EBITDA guidance range, with management citing strong execution across its portfolio and notable gains in offshore project activity.

President and Chief Executive Officer Rod Larson said the company’s adjusted EBITDA of $115 million was its highest quarterly level since the third quarter of 2015. He said the Offshore Projects Group, or OPG, was the largest contributor to the company’s EBITDA outperformance, driven by a favorable mix of international intervention and installation work, including light well intervention services in the Caspian Sea and an installation project offshore Egypt.

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Senior Vice President and Chief Financial Officer Mike Summerall said consolidated revenue rose 10% year over year to $768 million, with growth in every segment except Integrity Management & Digital Solutions, or IMDS. Operating income increased 11% to $88.2 million, while net income attributable to Oceaneering rose 19% to $65 million, or $0.65 per share. Adjusted EBITDA increased 11% to $115 million.

Offshore Projects and Subsea Robotics Lead Results OPG revenue increased 22% from the prior-year quarter to $183 million, while operating income rose 39% to $30 million. Summerall said the segment generated a 16% operating income margin, supported by disciplined execution on international intervention and installation projects that are expected to continue into the third quarter. Vessel utilization declined year over year, but management expects it to improve in the third quarter as the company supports customers under several frame agreements.

Subsea Robotics, or SSR, also improved year over year, with revenue increasing 6% to $232 million and operating income rising 3% to $66.3 million. Average ROV revenue per day utilized increased to $11,894 from $11,265, reflecting improved contract pricing. ROV utilization was 66%, slightly below 67% in the prior-year quarter, as activity in Europe and West Africa largely offset lower activity in the U.S. Gulf.

Summerall said SSR’s EBITDA margin remained flat at 35%, as higher ROV pricing was offset by geographic and service mix, including a larger contribution from survey work, which carries lower margins than the company’s core ROV business. Larson said the Ocean Intervention II entered service after significant upgrades in 2025 and is now performing survey projects expected to keep the vessel utilized through most of the remainder of 2026. He also said the company expects to conduct a simultaneous operations, or SIMOPS, project from the vessel later this year.

Manufactured Products Improves Margins; ADTech Wins Defense Work Manufactured Products revenue increased 3% to $149 million, while operating income rose 17% to $21.9 million. The segment’s operating income margin improved to 15%, up 178 basis points year over year. Summerall attributed the improvement to conversion of higher-margin backlog, increased volume in the Rotator valves business and improved results in the Mobility Solutions product line.

The segment’s backlog declined to $445 million as of June 30, reflecting execution of previously awarded work. Summerall said the trailing 12-month book-to-bill ratio was 0.88, compared with 0.65 a year earlier. He said the company won multiple awards early in the third quarter and expects additional awards in the third and fourth quarters, supporting management’s expectation that backlog will improve in the second half and meet full-year book-to-bill guidance of 0.9 to 1.0.

In Aerospace and Defense Technologies, or ADTech, revenue increased 22% to $133 million, while operating income was up slightly to $16.4 million. Operating income margin declined to 12%, reflecting program mix and timing in the Oceaneering Technologies, or OTech, business line.

Larson highlighted new contract awards across defense and subsea applications, including subsea robotics, subsea systems, submarine rescue and submarine maintenance, construction and installation services. He pointed to a joint contract from the Defense Innovation Unit to support development of an Extra-Large Unmanned Underwater Vehicle as an example of the company’s strategy to deploy dual-use technologies for both energy and government customers. He also noted that the Space Systems team was recognized by Lockheed Martin as a best-in-class supplier for work on the Artemis program.

Cash Flow, Buybacks and Debt Refinancing Oceaneering generated $55.2 million of cash from operating activities in the quarter. Summerall said the year-over-year decrease reflected the timing of project milestones, customer receipts and vendor payments. The company invested $23.2 million in organic capital expenditures, with 34% allocated to growth and 66% to maintenance, and generated free cash flow of $32 million.

The company resumed share repurchases during the quarter, buying back $10 million of common stock. It ended the period with $629 million in cash, total liquidity of $844 million and no borrowings under its revolving credit facility.

Summerall said Oceaneering placed $500 million of senior notes due in 2034 and used the proceeds, together with cash on hand, to retire $500 million of senior notes due in 2028. The company also amended its secured revolving credit facility, increasing commitments to $345 million from $215 million and extending the maturity to July 2031. He said those transactions would be completed in July.

Asked about capital allocation, Larson said the company’s priorities remain organic investment first, inorganic growth second and returning capital to shareholders, primarily through buybacks. He said Oceaneering intends to invest around its core energy business, particularly SSR, and also sees opportunities to expand in defense, including through partnerships and potential acquisitions.

Guidance Raised at Low End, IMDS Outlook Reduced For the third quarter, Oceaneering expects revenue to increase and adjusted EBITDA to range from $115 million to $125 million. Larson said SSR revenue and operating income are expected to rise as ROV utilization improves and survey activity continues. OPG revenue and operating income are also expected to increase on higher vessel utilization in the U.S. Gulf and West Africa, as well as continuing international projects.

For the full year, management raised the low end of adjusted EBITDA guidance and now expects consolidated adjusted EBITDA of $400 million to $440 million in 2026. Larson said first-half performance increased confidence in the company’s outlook.

However, Oceaneering lowered its outlook for IMDS, citing ongoing uncertainty in the Middle East and reduced activity in West Africa. Management now expects IMDS operating income to decrease significantly compared with full-year 2025, with operating income margin in the low single-digit percentage range. Summerall said second-quarter IMDS revenue, operating income and margin declined due to lower activity, related cost absorption and increased personnel costs in West Africa and the Middle East.

Management Sees Offshore Activity Building During the question-and-answer portion of the call, Larson said offshore activity appears to be rising, though he does not expect a sharply defined inflection point. He cited longer contracts for rigs and ROVs, greater rig utilization and higher levels of contracted rigs as indicators of improving demand.

Larson said SSR should benefit from increased rig utilization and strong tree orders and installations, while OPG should benefit from longer-term confidence in offshore projects. Summerall added that longer-term rig contracts are a positive macro indicator.

Discussing regional opportunities, Larson identified Brazil as a key growth market, pointing to Petrobras activity and the company’s recently announced ROV contract in the country. He also cited Africa, including activity around Namibia and Senegal, as well as Australia and the Far East. Summerall also pointed to Norway and activity tied to Equinor as relevant to European energy security.

On defense spending, Larson said the company is seeing more inbound interest than it did three or four years ago, particularly from partners seeking Oceaneering’s offshore operating experience. Summerall said the company participates in both submarine repair and construction and autonomy-related defense work, including lower-cost uncrewed technologies.

About Oceaneering International (NYSE:OII)Oceaneering International, Inc is a global provider of engineered services and products primarily to the offshore oil and gas industry, as well as to aerospace, defense, and commercial diving markets. The company specializes in remotely operated vehicles (ROVs), subsea intervention, and inspection services designed to support exploration, production and maintenance activities in challenging underwater environments. In addition to ROV operations, Oceaneering offers asset integrity solutions, specialized tooling, and intervention equipment for pipelines, risers, and flowlines.

Founded in 1964 and headquartered in Houston, Texas, Oceaneering has grown through both organic expansion and strategic acquisitions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

Should You Invest $1,000 in Oceaneering International Right Now?Before you consider Oceaneering International, you'll want to hear this.

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For the quarter ended June 2026, Eastern Bankshares, Inc. (EBC - Free Report) reported revenue of $309.5 million, up 26.4% over the same period last year. EPS came in at $0.49, compared to $0.41 in the year-ago quarter.

The reported revenue represents a surprise of +1.7% over the Zacks Consensus Estimate of $304.32 million. With the consensus EPS estimate being $0.46, the EPS surprise was +6.52%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Eastern Bankshares performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Efficiency ratio (GAAP): 54.3% versus the six-analyst average estimate of 53%.Net interest margin (FTE): 3.7% versus 3.7% estimated by six analysts on average.Average Balance - Total interest-earning assets: $28.3 billion versus the five-analyst average estimate of $28.39 billion.Total non-performing assets: $109.4 million versus $137.7 million estimated by three analysts on average.Total non-performing loans: $109.4 million versus the two-analyst average estimate of $137.7 million.Net Interest Income: $251.9 million versus the six-analyst average estimate of $255.62 million.Total Noninterest Income: $57.6 million compared to the $48.38 million average estimate based on six analysts.Investment advisory fees: $19.7 million versus the five-analyst average estimate of $19.12 million.Miscellaneous income and fees: $9.8 million compared to the $7.89 million average estimate based on four analysts.Net Interest Income (FTE): $258.2 million versus $258.99 million estimated by four analysts on average.Service charges on deposit accounts: $10 million versus $10.29 million estimated by four analysts on average.Interest rate swap income: $2 million versus $1.09 million estimated by four analysts on average.View all Key Company Metrics for Eastern Bankshares here>>>

Shares of Eastern Bankshares have returned +5.3% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

For the quarter ended June 2026, RingCentral (RNG - Free Report) reported revenue of $657.01 million, up 5.9% over the same period last year. EPS came in at $1.22, compared to $1.06 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $650.34 million, representing a surprise of +1.03%. The company delivered an EPS surprise of +4.27%, with the consensus EPS estimate being $1.17.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how RingCentral performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Gross Margin - Non-GAAP Other: -2.2% versus -11.8% estimated by four analysts on average.Gross Margin - Non-GAAP Subscriptions: 80.4% compared to the 80.7% average estimate based on four analysts.Revenues- Subscriptions: $633.65 million versus the five-analyst average estimate of $630.15 million. The reported number represents a year-over-year change of +5.8%.Revenues- Other: $23.36 million versus $20.18 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +7.8% change.View all Key Company Metrics for RingCentral here>>>

Shares of RingCentral have returned +5.1% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Ondo Finance’s ONDO token has drawn renewed interest from the market following a breakout supported by rising adoption of real-world assets (RWA) and the introduction of tokenized stock collateral for perpetual trading. The new feature, allowing traders to use tokenized equities as collateral, has added momentum to ONDO’s price recovery as traders monitor whether the token can approach the $0.50 resistance zone.

Ondo Finance expands with tokenized collateralFounded as a decentralized platform for tokenizing financial assets, Ondo Finance develops products that bring traditional financial instruments onto the blockchain. The company’s latest integration enables traders to leverage tokenized stocks as collateral for perpetual contracts, which supporters say could boost accessibility and liquidity in Ondo’s growing RWA ecosystem.

Following the announcement, ONDO had already rallied above a bullish pennant formation, indicating that traders were anticipating further upside. Technical analysis showed ONDO trading above its 20-day Simple Moving Average, suggesting a positive short-term trend.

Market data indicated a price recovery to the $0.40 region with capitalization staying above $1.7 billion. Buyers defending this area set the stage for a possible attempt at breaking through the key $0.50 barrier.

ONDO’s rally strengthened after the launch of tokenized stock collateral for perpetual trading, adding new use cases to the RWA ecosystem and supporting the token’s attempt to reclaim higher resistance levels.

Mini dictionary: Real-world assets (RWA) are traditional assets such as bonds, stocks, or property, represented in digital form on blockchain networks to enable new forms of access and trading.

2026 ONDO price scenarios and technical targetsONDO’s outlook for 2026 depends on multiple factors, including broader RWA demand, Bitcoin’s market trend, and institutional adoption. Analysts point to several scenarios that could play out depending on support and resistance levels:

ScenarioPrice TargetConditionsBearish$0.28 – $0.32Breakout fails, weak crypto sentimentBase Case$0.45 – $0.55Steady RWA growth, gradual buyingBullish$0.70 – $1.00Strong institutional adoption, broader market rallyThe first major resistance zone is $0.45, followed by the psychological $0.50 level. Breaking above these points may indicate further upward potential, but analysts emphasize that technical strength alone will not be enough unless RWA adoption continues growing.

Returning to previous all-time highs would require a significant increase in demand and valuation, and progress will likely depend on how effectively Ondo Finance can drive institutional use of its products.

Whale activity and investor positioningIn addition to technical data, activity from large holders (“whales”) has increased following ONDO’s breakout, pointing to growing positions by long-term investors. Whale accumulation traditionally signals confidence in the project’s future growth prospects, especially when linked to infrastructure that bridges conventional finance and blockchain technology.

Unlike purely speculative assets, ONDO is backed by efforts to enable blockchain-based settlement and ownership of real-world financial assets. As financial institutions seek new blockchain solutions for securities, Ondo’s offerings have aligned with one of the sector’s fastest-growing trends.

Analysts still caution that accumulation trends alone do not guarantee price increases. Market corrections are possible if sentiment turns or traders sell near resistance zones.

Mini dictionary: Ondo Finance is a platform that turns real-world financial products like securities and bonds into blockchain-based assets to create new investment opportunities.

Outlook for the $1 targetA move toward $1 by 2026 remains an ambitious scenario, as ONDO’s market capitalization would need to rise sharply. Reaching that milestone would likely require growing adoption of Ondo’s tokenized finance products and broader participation from institutional investors, combined with favorable overall market conditions.

The $0.50 area is currently seen as the most realistic near-term milestone for ONDO, while the $1 target represents a longer-term, bullish case that assumes substantial growth in the RWA market.

Competition in tokenized assets is accelerating and regulatory risks remain factors for investors to watch. Price rallies triggered by new product launches can fade if adoption is slower than expected, making ongoing monitoring of support and resistance zones essential.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Rexford Industrial (REXR - Free Report) came out with quarterly funds from operations (FFO) of $0.63 per share, beating the Zacks Consensus Estimate of $0.6 per share. This compares to FFO of $0.59 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an FFO surprise of +5.00%. A quarter ago, it was expected that this industrial real estate investment trust would post FFO of $0.6 per share when it actually produced FFO of $0.61, delivering a surprise of +1.67%.

Over the last four quarters, the company has surpassed consensus FFO estimates four times.

Rexford Industrial, which belongs to the Zacks REIT and Equity Trust - Other industry, posted revenues of $245.51 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 0.23%. This compares to year-ago revenues of $249.51 million. The company has topped consensus revenue estimates just once over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.

Rexford Industrial shares have lost about 5% since the beginning of the year versus the S&P 500's gain of 9.6%.

What's Next for Rexford Industrial?While Rexford Industrial 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 FFO outlook. Not only does this include current consensus FFO 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 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 estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Rexford Industrial 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 FFO estimate is $0.59 on $245.99 million in revenues for the coming quarter and $2.40 on $986.38 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Other is currently in the top 23% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, American Tower (AMT - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on July 28.

This wireless communications infrastructure company is expected to post quarterly earnings of $2.71 per share in its upcoming report, which represents a year-over-year change of +4.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

American Tower's revenues are expected to be $2.71 billion, up 3.1% from the year-ago quarter.

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SummaryTesla, Inc. and CEO Elon Musk appear to be deprioritizing the robotaxi initiative.Momentum in TSLA's robotaxi business has stalled, raising doubts about near-term commercialization.This shift may impact TSLA's growth narrative and valuation tied to autonomous driving.Investors should reassess expectations for robotaxi-driven upside in TSLA's investment thesis. Naypong/iStock via Getty Images

Elon Musk and Tesla, Inc. (TSLA) seem to be losing interest in its robotaxi business, as it appears to have stalled.

Ignoring His Previous Promises So much has changed in a year. A year ago, Elon Musk

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

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

News Summary:

NVIDIA and KAIST are launching a joint AI research lab at the KAIST Kim Jaechul Graduate School of AI in Seoul, dedicated to advancing agentic AI models and agent systems built for South Korea’s industries, language and future.The collaboration includes compute contributions, funding for at least 10 KAIST researchers annually with NVIDIA internships, plus full-time NVIDIA roles for top Korean researchers — creating new pathways for Korea’s AI talent.A core focus is developing models optimized for Korea, using NVIDIA Nemotron open models and local NVIDIA Cloud Partner infrastructure to build a pipeline from academic research to enterprise and national AI deployments. SANTA CLARA, Calif. and SEOUL, July 23, 2026 (GLOBE NEWSWIRE) -- NVIDIA and the Korea Advanced Institute of Science and Technology (KAIST) today announced the launch of a joint AI research laboratory at the KAIST Kim Jaechul Graduate School of AI in Seoul, dedicated to advancing agentic AI for South Korea.

The collaboration will establish a robust academic AI research program, bringing together NVIDIA full-stack AI expertise, NVIDIA Nemotron™ open models and NVIDIA AI Cloud partner computing with the world-class scientific talent at KAIST, one of Asia’s premier research universities.

“Korea is home to leading AI researchers and is one of the world’s most advanced technology ecosystems,” said Bill Dally, chief scientist and senior vice president of research at NVIDIA. “The joint NVIDIA-KAIST research lab will provide a foundation for the next frontier of AI research to accelerate AI models and agent systems built for Korea’s industries, language and future.”

“AI research is entering a new era — one that requires frontier talent, large-scale infrastructure and deep collaboration across academia and industry,” said Hyunwoo Kim, incoming faculty member at the KAIST Kim Jaechul Graduate School of AI, who will serve as head of the joint NVIDIA-KAIST lab upon joining KAIST. “Together, NVIDIA and KAIST Kim Jaechul Graduate School of AI will pursue ambitious work that helps Korea attract and retain top AI scientists while building lasting ties with NVIDIA’s global research organization.”

Full-Stack Infrastructure, Open Models and Collaboration Fuel Korea’s AI Future
The lab will be established at the KAIST Kim Jaechul Graduate School of AI in Seoul. KAIST, headquartered in the tech hub of Daejeon, has a strong focus on public research spanning engineering, AI, semiconductor technology, robotics and digital humanities.

The joint lab plans to fund at least 10 KAIST researchers annually and provide each with internship opportunities at NVIDIA. In addition, NVIDIA plans to hire exceptional Korean researchers for full-time positions. Together, these efforts will create stronger pathways for Korea’s top AI talent to pursue ambitious research, build long-term careers and deepen global collaboration between academia and industry.

The $300 million collaboration is expected to include $50-million-per-year compute contributions across an initial five-year period. Compute infrastructure from local NVIDIA Cloud Partners will provide researchers with direct access to the latest NVIDIA AI infrastructure.

Among the lab’s priorities will be developing models optimized for the Korean language and Korea-specific use cases, with NVIDIA Nemotron open models to advance the country’s AI capabilities, fostering a pipeline from academic discovery to enterprise and national AI deployments.

About KAIST
The Korea Advanced Institute of Science and Technology (KAIST) is a public research university in Daejeon, South Korea. Founded in 1971, KAIST is consistently ranked among Asia’s top universities in science and engineering and has produced many of Korea’s leading scientists, engineers, and entrepreneurs. For more information, visit www.kaist.ac.kr.

About NVIDIA
NVIDIA (NASDAQ: NVDA) is the world leader in AI and accelerated computing.

For further information, contact:
Corporate Communications
NVIDIA Corporation
[email protected]  

PR Office
KAIST
[email protected]

Certain statements in this press release including, but not limited to, statements as to: the joint NVIDIA-KAIST research lab providing a foundation for the next frontier of AI research to accelerate AI models and agent systems built for Korea’s industries, language and future; expectations with respect to NVIDIA’s collaboration with KAIST; expectations with respect to growth, performance, availability, and benefits of NVIDIA’s products, services and technologies, and related trends and drivers; expectations with respect to technology developments, and related trends and drivers; projected market growth and trends; expectations with respect to AI and related industries; and other statements that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections based on management’s beliefs and assumptions and on information currently available to management and are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic and political conditions; NVIDIA’s reliance on third parties to manufacture, assemble, package and test NVIDIA’s products; the impact of technological development and competition; development of new products and technologies or enhancements to NVIDIA’s existing products and technologies; market acceptance of NVIDIA’s products or NVIDIA’s partners’ products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of NVIDIA’s products or technologies when integrated into systems; NVIDIA’s ability to realize the potential benefits of business investments or acquisitions; and changes in applicable laws and regulations, as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Copies of reports filed with the SEC are posted on the company’s website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

© 2026 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo and Nemotron are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and other countries. Other company and product names may be trademarks of the respective companies with which they are associated. Features, pricing, availability and specifications are subject to change without notice.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a414b7ed-4e56-4b3e-b323-4737d489e2b0

KAIST and NVIDIA Logos NVIDIA and the Korea Advanced Institute of Science and Technology (KAIST) today announced the launch...

Intel (INTC - Free Report) came out with quarterly earnings of $0.42 per share, beating the Zacks Consensus Estimate of $0.21 per share. This compares to a loss of $0.1 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +100.00%. A quarter ago, it was expected that this world's largest chipmaker would post earnings of $0.01 per share when it actually produced earnings of $0.29, delivering a surprise of +2800%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Intel, which belongs to the Zacks Semiconductor - General industry, posted revenues of $16.13 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 11.89%. This compares to year-ago revenues of $12.86 billion. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Intel shares have added about 178.1% since the beginning of the year versus the S&P 500's gain of 9.6%.

What's Next for Intel?While Intel has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Intel was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.25 on $15.08 billion in revenues for the coming quarter and $1.07 on $58.71 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, Semiconductor - General is currently in the top 3% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Amtech Systems (ASYS - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5.

This provider of equipment for solar panel and semiconductor makers is expected to post quarterly earnings of $0.10 per share in its upcoming report, which represents a year-over-year change of +66.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Amtech Systems' revenues are expected to be $21.5 million, up 9.9% from the year-ago quarter.

A logo on the SAP exhibition space at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France June 15, 2022.... Purchase Licensing Rights, opens new tab Read more

July 23 (Reuters) - SAP's (SAPG.DE), opens new tab finance chief said on Thursday that artificial intelligence in enterprise software must move beyond chatbots and coding tools into more ​complex business processes, where clean data, reliability and cost control matter ‌more than access to the most powerful model.

Companies have poured money into generative AI but are still seeking evidence of broad productivity gains, and SAP is arguing that ​the returns will come less from general-purpose models than from ​governed systems embedded in specific business processes.

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CFO Dominik Asam told reporters ⁠after SAP's second-quarter results that the "lion's share" of AI token consumption ​today was spent in "low-hanging fruits" coding assistant and chatbots, where AI's hallucinations matter ​less because the output carries limited risk if it fails.

But applying AI to finance, supply chain or other core business processes is harder because errors carry over multiple ​steps, increasing risk against compliance standards, he said.

"If you have some hallucinations ​in the process, the errors will actually compound statistically over many steps," Asam said, ‌referring ⁠to finance workflows. "It requires much more excruciating assurance levels."

The "high-hanging fruit" of AI, Asam said, is less about applying a generic plug-and-play large language model across a company than about building systems around specific businesses.

That requires companies to ​make their own ​data usable and ⁠governed, so AI can operate with the knowledge of the company. "The idea that AI will solve all these problems ​if they are messy, legacy data silos is not ​true," Asam ⁠said, adding that such an approach came with "extremely high token costs."

The most advanced model is not always the right one, he said. In practice, he ⁠said, ​companies will use the cheapest reliable tool that ​can deliver the required outcome safely, whether that is simple software, an open-source model or ​an expensive frontier model.

Reporting by Leo Marchandon in Gdansk; Editing by Alistair Bell

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Leo's stories appear regularly on the technology and media desk, with a particular focus on France, Ukraine, and Europe's tech build up. He has reported extensively on major players across media & entertainment, artificial intelligence, and digital regulations. A background in tech-related law, Leo started his journalism career in Bordeaux, where he covered the full spectrum of the technology beat, from AI and spacetech to payment systems and regulations. He is now based in Gdansk, covering business, tech and entertainment news across Europe with Reuters.

Buffett Trims Apple, Bets Big on Alphabet Ahead of RetirementVeriSign NASDAQ: VRSN reported stronger second-quarter 2026 results, citing record domain name registrations, continued solid renewal rates and a rising contribution from artificial intelligence-related tools that management said are making it easier for users to get online.

Executive Chairman, President and CEO Jim Bidzos said the company’s combined .com and .net domain name base reached 179.1 million names at the end of the quarter, up 3.05 million from the prior quarter. New registrations totaled a record 12.7 million, compared with 11.5 million in the prior quarter and 10.4 million in the second quarter of 2025.

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Why These 3 Market-Beaters Are Backing Up Their Buyback Trucks“VeriSign delivered strong results in the second quarter of 2026, both operationally and financially,” Bidzos said. He also noted that the company marked 29 years of 100% availability for the .com and .net domain name resolution system.

Revenue and earnings rise Chief Financial Officer John Calys said VeriSign generated second-quarter revenue of $435 million, up 6% from the same period a year earlier. Operating income was $296 million, an increase of $16 million, or 5.6%, from the prior-year quarter.

3 American Outperformers Are Lifting and Initiating DividendsNet income totaled $217 million, compared with $207 million a year earlier. Diluted earnings per share were $2.38, up from $2.21 in the second quarter of 2025 and $2.34 in the prior quarter.

Operating cash flow was $232 million, while free cash flow was $213 million. That compared with operating cash flow of $202 million and free cash flow of $109 million in the year-ago period.

Calys said VeriSign ended the quarter with $1.034 billion in cash, cash equivalents and marketable securities. That total included $546 million of net proceeds from the issuance of 5.1% senior notes due in 2031. The company redeemed $550 million of outstanding 4.75% senior notes due in 2027 on July 20, reducing liquidity from the quarter-end level.

Domain growth guidance raised Management raised and narrowed its 2026 guidance for domain name base growth to a range of 5.2% to 6%, citing trends observed in the first half of the year and expectations for the second half.

Bidzos said the expected renewal rate for the second quarter was 75.2%, compared with 75.5% a year earlier. He added that the first-quarter renewal rate was the highest VeriSign had seen in 20 years, and that first-time renewal rates have remained in a tight range in the mid-40% area for several quarters.

According to Bidzos, the strongest regional growth in the second quarter came from the U.S. and EMEA. He said registrar engagement with VeriSign’s marketing programs and customer acquisition efforts supported demand, while AI tools are making domain discovery, content creation and website creation faster and easier.

“The strength in new registrations attests to the vital role of domain names in being discovered and establishing digital credibility,” Bidzos said.

In response to an analyst question, Bidzos said several factors were working together, including the company’s infrastructure, registrar execution and AI-related tailwinds. He said it was difficult to precisely separate the impact of each factor. He also addressed whether the upcoming November .com wholesale price increase could be pulling forward demand, saying VeriSign did not view that as “anything coming close to a material factor” in current registration strength.

Full-year financial outlook updated VeriSign updated its full-year financial guidance. The company now expects:

Revenue of $1.745 billion to $1.755 billion. Operating income of $1.185 billion to $1.195 billion. Interest expense and non-operating net expense of $59 million to $65 million. Capital expenditures of $55 million to $65 million. A GAAP effective tax rate of 22% to 25%. Calys said the capital expenditure outlook accounts for price increases in server memory chip markets, which he said have had a meaningful impact. He added that VeriSign has pulled forward some spending that otherwise would have been expected next year to avoid known upcoming price increases.

Bidzos said VeriSign would continue to make the necessary investments in equipment for its operations “without hesitation.”

.web delegated into DNS root zone Bidzos also highlighted VeriSign’s announcement that .web has been delegated into the global Domain Name System root zone, with VeriSign as the registry operator. He said the delegation followed the resolution of previous disputes related to the generic top-level domain.

VeriSign plans to begin offering .web domains through channel partners later this year and said it does not currently expect meaningful revenue or expenses from .web in 2026.

Bidzos said .web differs from .com because it is governed by a standard registry agreement with ICANN and is not subject to the same cooperative agreement structure that applies to .com. He said VeriSign will have “complete wholesale pricing flexibility” for .web, subject to a six-month notice requirement to registrars, and will be able to sell premium names, which it cannot do for .com or .net.

Management outlined the expected launch sequence for .web, including a required 90-day security testing period and a minimum 30-day period for trademark holders. Bidzos said VeriSign also intends to run a limited registration period that would allow .com holders the opportunity to register the corresponding .web name before general availability.

General availability is expected either late this year or very early next year, Bidzos said.

Capital returns and new products VeriSign’s board increased the company’s share repurchase authorization by $884 million, bringing total availability under the current program to $1.5 billion. The program has no expiration date.

The board also approved a quarterly cash dividend of $0.81 per share, payable Aug. 27, 2026, to shareholders of record as of Aug. 19, 2026. Bidzos said VeriSign returned more than 100% of free cash flow to shareholders over the last 12 months through $1.17 billion in repurchases and dividends.

Bidzos said VeriSign has not paused its new product efforts, although it delayed related blog rollouts while focusing on .web delegation. He said the products are security-focused and rely on the company’s infrastructure, public key infrastructure history and DNS security experience.

Management said the products are designed for performance, reliability and global scale, with Bidzos pointing to increasing reliance on online services, especially AI-related services, and the need for deeper deployment of security technologies.

About VeriSign (NASDAQ:VRSN)VeriSign, Inc NASDAQ: VRSN is an internet infrastructure company that operates critical components of the global Domain Name System (DNS) and provides cybersecurity-related services. The company is best known as the authoritative registry operator for the .com and .net top-level domains, maintaining the central databases and zone files that enable domain name resolution for millions of websites. VeriSign's registry role is performed under contractual agreements with Internet Corporation for Assigned Names and Numbers (ICANN) and involves high-availability, highly secure operations to support continuous internet connectivity.

In addition to its registry business, VeriSign offers a suite of services designed to protect and accelerate DNS and internet traffic for enterprises and service providers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Gemini Trust Company, a prominent cryptocurrency exchange co-founded by Cameron and Tyler Winklevoss, has contributed $10 million in Bitcoin to a super PAC backing US President Donald Trump, according to financial filings released this week.

Major Bitcoin donation tied to CFTC case developmentsThe contribution was disclosed in MAGA Inc. Super PAC’s July report to the Federal Election Commission. The filing reveals that Gemini sent two separate Bitcoin donations, each exceeding $5 million, on June 19. MAGA Inc., a political action committee supporting Trump, can use the funds for independent expenditures during the 2024 presidential campaign.

This significant donation was recorded just weeks after the Commodity Futures Trading Commission (CFTC) and Gemini jointly requested a federal court to consider reversing a $5 million settlement reached in January 2025. The case centers on allegations that Gemini provided false or misleading statements.

Michael Selig, CFTC Chair and the agency’s only current commissioner, has asserted that previous enforcement actions against Gemini were politically motivated under former President Joe Biden’s administration, targeting the Winklevoss brothers.

The CFTC, led by Selig, claimed that the Biden administration “politically targeted” the Winklevosses through enforcement, highlighting tensions surrounding regulatory action in the crypto sector.

Beyond the $10 million donation, the Winklevoss twins previously contributed $1 million each to Trump’s 2024 campaign and have shown vocal support for his presidency on social media. After Trump’s return to office in January 2025, the brothers appeared at the signing ceremony for the GENIUS Act, a stablecoin payments bill, and backed his sons’ crypto mining venture, American Bitcoin. They have also contributed $21 million in Bitcoin to the Digital Freedom Fund PAC, aimed at advancing crypto-friendly policies.

Ongoing court proceedings and political reactionsNo final decision has been made public regarding the joint CFTC-Gemini request, which was filed with the US District Court for the Southern District of New York in May. The CFTC stated in June that if the court grants reversal, the $5 million penalty will not be returned to Gemini.

Senator Elizabeth Warren sent a letter to CFTC Chair Selig in June, raising concerns that the joint motion and recent actions suggest the agency may be influenced by political pressures and wealthy insiders, warning of risks to market integrity and investor protection.

As of June 30, MAGA Inc. reported total receipts exceeding $397 million.

RecipientAmountAssetDateMAGA Inc. Super PAC$10 millionBitcoin (BTC)June 19, 2025Trump 2024 Campaign$2 millionUSDPrior to June 2025Digital Freedom Fund PAC$21 millionBitcoin (BTC)Prior to June 2025Selig’s unique position and crypto regulationMichael Selig, a Republican who was confirmed as CFTC Chair in December 2025, is currently serving as the sole commissioner on the panel, which is traditionally composed of five bipartisan members. The Commodity Futures Trading Commission is responsible for regulating US derivatives markets, including those related to digital assets.

Lawmakers from both parties have urged President Trump to nominate additional commissioners to restore the commission’s normal composition, especially as Congress debates the Digital Asset Market Clarity (CLARITY) Act. The pending bill would expand the CFTC’s authority over digital asset markets, establishing clearer rules and oversight mechanisms.

As of the latest updates, the White House had not put forward new nominations for the CFTC, meaning Selig continues to manage the agency’s regulatory agenda.

Mini dictionary: Commodity Futures Trading Commission (CFTC), an independent US government agency that regulates derivatives markets, including futures, options, and swaps, and increasingly digital assets. It plays a key role in establishing legal frameworks for crypto-related trading.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Boardwalk, a protocol built around fee protection and transparent token economies, has flipped the switch on its BMX-to-BWLK migration module. The tool, now live on the project’s website, lets eligible holders of BMX tokens on Base convert them into staked BWLK tokens on Ethereum at a clean 1:1 ratio.

How the migration works BMX holders connect to the migration module, submit their tokens, and receive staked BWLK in return. The 1:1 exchange rate removes guesswork.

Boardwalk first announced the migration on July 15, followed by a timeline confirmation on July 20. The module itself went live on July 23, sticking to the announced schedule.

The migration window will remain open for approximately six months.

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BWLK is being deployed across multiple platforms, including Ethereum, Base, Robinhood, and Arbitrum. Native liquidity incentives are part of the rollout, designed to bootstrap trading activity across these venues.

The supply math behind BWLK BWLK was originally launched through a Uniswap Continuous Clearing Auction, or CCA. The initial planned supply was 3,150,000 tokens.

Boardwalk burned 160,222 tokens, bringing the current total supply down to 2,989,778 BWLK — about 5% of the planned supply permanently removed before the migration module went live.

The burn aligns with Boardwalk’s stated focus on maintaining a “balanced supply” while keeping its community actively involved in governance decisions. The project has implemented public snapshot reviews and staked token distributions as part of this framework.

Why cross-chain migrations matter The inclusion of Robinhood in the deployment list is particularly notable. Robinhood’s crypto platform caters to retail users who may never interact with a DEX or bridge, opening BWLK to an audience outside traditional DeFi.

Boardwalk has been sharing official links through its Discord and other community channels specifically to help users avoid scam contracts that impersonate migration tools.

The staked nature of the received BWLK tokens means migrated tokens are immediately put to work within the protocol’s staking mechanism. Holders should understand any lock-up periods or unstaking delays before committing.

What this means for investors For existing BMX holders, the migration offers six months to convert at a guaranteed 1:1 rate into a token with a current supply of 2,989,778 — live on Ethereum, Base, Arbitrum, and Robinhood.

A supply of just under 3 million tokens is already quite small by crypto standards. Thin order books on a low-supply token can lead to violent price swings in either direction.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Ethereum price today: $1,880Ethereum shaved 3% off its market cap on Thursday following an increase in open interest and brief negative funding rate flip.Four consecutive days of inflows into US spot ETH ETFs indicate continued recovery in institutional demand, but spot sentiment in the region has yet to flip positive.ETH fails to clear the 100-day EMA overhead.Ethereum (ETH) is hovering slightly below the $1,900 level, down 3% on Thursday following a slight expansion in derivatives interest.

The top altcoin's open interest has increased to 14.60 million ETH, marking a 600K ETH increase over the past two days and its highest level since June 7.

Open interest is the total worth of outstanding contracts in a derivatives market. Earlier in July, when ETH began its recovery, OI remained flat before the slight rise this week.

ETH Open Interest. Source: CoinglassA similar trend is noticed in the Estimated Leverage Ratio (ELR), which has largely remained flat before a slight rise over the past week.

The ELR measures an asset's open interest compared to its exchange reserves to give a view of the amount of leverage traders are using relative to spot pressure.

ETH Estimated Leverage Ratio. Source: CryptoQuantFunding rates have also been largely positive throughout the month but have begun to ease this week and briefly flipped negative on Thursday, the first time since June 29. Funding rates are periodic payments between long and short traders in perpetual futures markets to keep a contract's price aligned with its underlying spot counterpart.

Funding Rates. Source: CoinglassThe returning leverage could help expand ETH's recent rise, but emerging signals of a negative flip in funding rates also bring a price squeeze into the picture.

Meanwhile, on the institutional side, US spot ETH exchange-traded funds (ETFs) continued their positive streak, recording $72.64 million in net inflows on Thursday, according to SoSoValue data. The move marks a fourth consecutive day of net inflows for the products.

While US institutional interest is recovering, spot traders' sentiment in the region has yet to flip positive. The Coinbase Premium Index, which tracks sentiment among traders in the region, has remained in negative territory for nearly three months. A sustained move into positive territory could spread bullish sentiment into other regions.

ETH Coinbase Premium Index. Source: CryptoQuantEthereum Price Forecast: ETH falters before 100-day EMA againEthereum recorded $41.55 million in liquidations over the past 24 hours, led by $34.40 million in long liquidations, per Coinglass data.

On the daily chart, ETH is holding a constructive short-term tone as it remains above both the 20- and 50-day Exponential Moving Averages (EMAs) at $1,837 and $1,829. However, the upside remains challenged by a broader downtrend, with the 100-day EMA at $1,937 acting as a key overhead barrier, while momentum gauges remain supportive.

The Relative Strength Index (RSI) and Stochastic have eased toward 57 and 66, respectively, both hinting at steady but not extreme buying pressure.

On the topside, initial resistance emerges at the horizontal level of $1,909, ahead of the 100-day EMA at $1,937, with further bullish extension targeting $2,018 and then $2,107, where a denser supply zone begins toward $2,211 and $2,388.

ETH/USDT daily chartOn the downside, immediate support comes from the 20- and 50-day EMAs, followed by a more established floor at $1,806. A deeper pullback would expose $1,741, while only a break below $1,524 would seriously undermine the current constructive bias toward higher levels.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

Increasing Share Buybacks; Full Year Production Guidance Raised; Capital Guidance Unchanged

Highlights:

Generated second quarter cash from operating activities of $1.6 billion, Non-GAAP Cash Flow of approximately $1.3 billion and Non-GAAP Free Cash Flow of $682 million after capital expenditures of $574 million Produced average second quarter volumes of 615 thousand barrels of oil equivalent per day ("MBOE/d"), including oil and condensate volumes of 206 thousand barrels per day ("Mbbls/d"), above the high end of company guidance, along with 82 Mbbls/d of other NGLs (C2 to C4) and 1,959 million cubic feet per day ("MMcf/d") of natural gas Closed the sale of the Company's Anadarko assets for total cash proceeds of approximately $2.82 billion after preliminary closing adjustments and transaction costs Net Debt of $2.995 billion as of June 30, 2026, Net Debt to Adjusted EBITDA of 0.6x Returned approximately 63% of second quarter Non-GAAP Free Cash Flow to shareholders via share repurchases of approximately $345 million (6.1 million shares) and dividend payments of $84 million Full year 2026 shareholder returns expected to exceed 60% of Non-GAAP Free Cash Flow, up from 45% year-to-date Revised full year 2026 guidance to reflect higher expected oil and condensate production for the same capital investment; representing 4% production per share growth , /PRNewswire/ -- Ovintiv Inc. (NYSE: OVV) (TSX: OVV) ("Ovintiv" or the "Company") today announced its second quarter 2026 financial and operating results. The Company plans to hold a conference call and webcast at 9:00 a.m. MT (11:00 a.m. ET) on July 24, 2026. Please see dial-in details within this release, as well as additional details on the Company's website at www.ovintiv.com under Presentations and Events – Ovintiv.

Ovintiv Reports Second Quarter 2026 Financial and Operating Results "Our second quarter results continued to demonstrate industry-leading performance across the board driven by our stacked innovation approach," said Ovintiv President and CEO, Brendan McCracken. "Our company is positioned with a deep inventory of superior-return drilling locations, a fortified balance sheet, and leading edge well costs and oil productivity performance. The outcomes of our strategic execution are reflected in our results. Halfway through the year, we've generated more than $1.3 billion of Free Cash Flow, organically replaced our full-year 2026 drilling locations in both the Permian and the Montney, and are set to grow oil production per share by 4% with no increase to activity or capital expenditure."

Second Quarter 2026 Financial and Operating Results

Reported second quarter net earnings of $456 million, or $1.62 per share diluted, which included a loss on the divestiture of the Company's Anadarko assets of $337 million, before tax Recognized a net gain on risk management in revenues of $122 million, before tax Generated cash from operating activities of $1.6 billion and Non-GAAP Cash Flow of approximately $1.3 billion Second quarter average total production volumes were approximately 615 MBOE/d, including 206 Mbbls/d of oil and condensate, 82 Mbbls/d of other NGLs (C2 to C4) and 1,959 MMcf/d of natural gas Second quarter capital investment of $574 million was at the midpoint of the guidance range of $550 million to $600 million Reported second quarter upstream operating expense of $3.25 per BOE, upstream transportation and processing costs of $9.47 per BOE, production, mineral and other taxes of $1.43 per BOE, or 3.5% of upstream product revenue Excluding the impact of hedges, second quarter average realized price for oil and condensate was $97.50 per barrel (105% of WTI), $21.67 per barrel for other NGLs, and $1.71 per Mcf (59% of NYMEX) for natural gas, resulting in a total average realized price of $41.00 per BOE Including the impact of hedges, second quarter average realized price for oil and condensate was $91.22 per barrel (98% of WTI), $21.67 per barrel for other NGLs, and $1.99 per Mcf (69% of NYMEX) for natural gas, resulting in a total average realized price of $39.79 per BOE 2026 Guidance
The Company issued its third quarter 2026 guidance and revised its full year guidance. Full year production volumes are expected to average 630 MBOE/d to 645 MBOE/d, driven by increases in oil and condensate and NGL volumes. Full year expected capital investment is unchanged at $2.25 billion to $2.35 billion.

2026 Guidance

3Q 2026

Full Year 2026

Total Production (MBOE/d)

615 – 640

630 – 645

Oil & Condensate (Mbbls/d) 

205 – 210

210 – 212

NGLs (C2 to C4) (Mbbls/d)

75 – 80

83 – 85

Natural Gas (MMcf/d)

2,000 – 2,100

2,025 – 2,075

Capital Investment ($ Millions)

$550 – $600

$2,250 – $2,350

Shareholder Returns
Ovintiv's shareholder return framework commits to returning 50% to 100% of annual Non-GAAP Free Cash Flow to shareholders via the combination of base dividend payments and share buybacks.

Second quarter shareholder returns totaled approximately $429 million, or approximately 63% of Non-GAAP Free Cash Flow, consisting of share buybacks of approximately $345 million, or approximately 6.1 million shares of common stock, and base dividend payments of approximately $84 million.

As of June 30, 2026, year-to-date shareholder returns totaled approximately $598 million, or approximately 45% of Non-GAAP Free Cash Flow, consisting of share buybacks of approximately $429 million, or approximately 7.6 million shares of common stock, and base dividend payments of approximately $169 million. Ovintiv expects full year 2026 shareholder returns to total more than 60% of Non-GAAP Free Cash Flow.

Continued Balance Sheet Focus
As of June 30, 2026, Ovintiv's Net Debt was $2.995 billion and Net Debt to Adjusted EBITDA was approximately 0.6 times. The Company had approximately $4.4 billion in total liquidity, which included available credit facilities of $3.5 billion, available uncommitted demand lines of $159 million, and cash and cash equivalents of $700 million. 

Ovintiv redeemed its $700 million, 5.65% senior notes due May 15, 2028, on April 20, 2026. Annualized interest savings from the note redemption are expected to total approximately $40 million.  

Dividend Declared
On July 23, 2026, Ovintiv's Board declared a quarterly dividend of $0.30 per share of common stock payable on September 29, 2026, to shareholders of record as of September 15, 2026.

Asset Highlights
Permian
Permian production averaged 231 MBOE/d (78% liquids) in the second quarter with 38 net wells turned in line ("TIL"). Full year 2026 capital investment is expected to total approximately $1.325 billion to $1.375 billion in the play to run approximately 5 rigs and bring on an expected 125 to 135 net wells. For the second half of the year, oil and condensate production is expected to average approximately 125 Mbbls/d and natural gas production is expected to average 280 to 305 MMcf/d.

Montney  
Montney production averaged 374 MBOE/d (27% liquids) in the second quarter with 40 net wells TIL. Full year 2026 capital investment is expected to total approximately $875 million to $925 million in the play to run approximately 6 rigs and bring on an expected 130 to 140 net wells. For the second half of the year, oil and condensate production is expected to average 80 to 85 Mbbls/d and natural gas production is expected to average 1.7 to 1.8 Bcf/d.

For additional information, please refer to the Second Quarter 2026 Results Presentation available on Ovintiv's website, www.ovintiv.com under Presentations and Events – Ovintiv. Supplemental Information, and Non-GAAP Definitions and Reconciliations, are available on Ovintiv's website under Financial Document Library – Ovintiv.

Conference Call Information
A conference call and webcast to discuss the Company's second quarter 2026 results will be held at 9:00 a.m. MT (11:00 a.m. ET) on July 24, 2026.

To join the conference call without operator assistance, you may register and enter your phone number at https://emportal.ink/4jChG1W to receive an instant automated call back. You can also dial direct to be entered to the call by an Operator. Please dial 888-510-2154 (toll-free in North America) or 437-900-0527 (international) approximately 15 minutes prior to the call.

The live audio webcast of the conference call, including slides and financial statements, will be available on Ovintiv's website, www.ovintiv.com under Investors/Presentations and Events. The webcast will be archived for approximately 90 days.

Refer to Note 1 Non-GAAP measures and the tables in this release for reconciliation to comparable GAAP financial measures.

Capital Investment and Production

(for the period ended June 30)

2Q 2026

2Q 2025

Capital Expenditures (1) ($ millions)

574

521

Oil (Mbbls/d)

123.0

142.0

NGLs – Plant Condensate (Mbbls/d)

82.8

69.2

Oil & Plant Condensate (Mbbls/d)

205.8

211.2

NGLs – Other (Mbbls/d)

82.4

95.5

Total Liquids (Mbbls/d)

288.2

306.7

Natural gas (MMcf/d)

1,959

1,851

Total production (MBOE/d)

614.6

615.3

1) Including capitalized directly attributable internal costs.

Second Quarter Financial Summary

(for the period ended June 30)

($ millions)

2Q 2026

2Q 2025

Cash From (Used In) Operating Activities

Deduct (Add Back):

Net change in other assets and liabilities

Net change in non-cash working capital

1,632

(4)

380

1,013

(11)

111

Non-GAAP Cash Flow (1)

1,256

913

Non-GAAP Cash Flow (1)

1,256

913

Less: Capital Expenditures (2)

574

521

Non-GAAP Free Cash Flow (1)

682

392

Net Earnings (Loss) Before Income Tax

Before-tax (Addition) Deduction:

Unrealized gain (loss) on risk management

Non-operating foreign exchange gain (loss)

Gain (loss) on divestitures, net

539

190

(31)

(337)

399

54

(3)

-

Adjusted Earnings (Loss) Before Income Tax

Income tax expense (recovery)

717

226

348

83

Non-GAAP Adjusted Earnings (1)

491

265

1)

Non-GAAP Cash Flow, Non-GAAP Free Cash Flow and Non-GAAP Adjusted Earnings are non-GAAP measures as defined in Note 1.

2)

Including capitalized directly attributable internal costs.

Realized Pricing Summary (Including the impact of realized gains (losses) on risk management)

(for the period ended June 30)

2Q 2026

2Q 2025

Liquids ($/bbl)

WTI

92.79

63.74

Realized Liquids Prices

Oil

91.53

65.23

NGLs – Plant Condensate

90.74

60.79

Oil & Plant Condensate

91.22

63.77

NGLs – Other

21.67

18.28

Total NGLs

56.29

36.14

Natural Gas

NYMEX ($/MMBtu)

2.90

3.44

Realized Natural Gas Price ($/Mcf)

1.99

2.38

Cost Summary

(for the period ended June 30)

($/BOE)

2Q 2026

2Q 2025

Production, mineral and other taxes

1.43

1.31

Upstream transportation and processing

9.47

7.62

Upstream operating

3.25

3.84

Administrative, excluding long-term incentive, restructuring, transaction and legal costs

1.28

1.19

Debt to EBITDA (1) 

($ millions, except as indicated)

June 30, 2026

December 31, 2025

Long-Term Debt, including Current Portion

3,695

5,202

Net Earnings (Loss)

920

1,242

Add back (Deduct):

   Depreciation, depletion and amortization

2,158

2,179

   Interest

388

376

   Income tax expense (recovery)

(644)

(472)

EBITDA

2,822

3,325

Debt to EBITDA (times)

1.3

1.6

1) Debt to EBITDA is a non-GAAP measure as defined in Note 1.

Debt to Adjusted EBITDA (1)

($ millions, except as indicated)

June 30, 2026

December 31, 2025

Long-Term Debt, including Current Portion

3,695

5,202

Net Earnings (Loss)

920

1,242

Add back (Deduct):

   Depreciation, depletion and amortization

   Impairments

2,158

1,675

2,179

920

   Accretion of asset retirement obligation

28

28

   Interest

388

376

   Unrealized (gains) losses on risk management

(135)

(6)

   Foreign exchange (gain) loss, net

   (Gain) loss on divestitures, net

20

337

31

-

   Other (gains) losses, net

(72)

(46)

   Income tax expense (recovery)

(644)

(472)

Adjusted EBITDA

4,675

4,252

Debt to Adjusted EBITDA (times)

0.8

1.2

1) Debt to Adjusted EBITDA is a non-GAAP measure as defined in Note 1.

Net Debt to Adjusted EBITDA (1) 

($ millions, except as indicated)

June 30, 2026

December 31, 2025

Long-Term Debt, including Current Portion

3,695

5,202

Less:

   Cash and cash equivalents

700

35

Net Debt

2,995

5,167

Adjusted EBITDA

4,675

4,252

Net Debt to Adjusted EBITDA (times)

0.6

1.2

1) Net Debt to Adjusted EBITDA is a non-GAAP measure as defined in Note 1.

Hedge Details(1) as of June 30, 2026 

Oil and Condensate Hedges ($/bbl)

3Q 2026

4Q 2026

1Q 2027

2Q 2027

3Q 2027

4Q 2027

WTI Fixed Price Swaps

4 Mbbls/d

$61.67

4 Mbbls/d

$61.93

0

-

0

-

0

-

0

-

WTI 3-Way Options
Call Strike

Put Strike

Sold Put Strike

51 Mbbls/d

$70.87

$59.26

$50.08

41 Mbbls/d

$70.21

$57.22

$50.10

40 Mbbls/d

$85.56

$59.34

$50.00

10 Mbbls/d

$112.53

$60.00

$50.00

0

-

-

-

0

-

-

-

WTI Collars

Call Strike

Put Strike

1 Mbbls/d

$67.79

$56.32

1 Mbbls/d

$67.79

$56.32

0

-

-

0

-

-

0

-

-

0

-

-

Natural Gas Hedges ($/Mcf)

3Q 2026

4Q 2026

1Q 2027

2Q 2027

3Q 2027

4Q 2027

NYMEX Fixed Price Swaps

20 MMcf/d

$4.07

20 MMcf/d

$4.07

0

-

0

-

0

-

0

-

NYMEX 3-Way Options
Call Strike

Put Strike

Sold Put Strike

450 MMcf/d

$5.92

$3.33

$2.58

450 MMcf/d

$5.92

$3.33

$2.58

300 MMcf/d

$5.04

$3.50

$2.50

200 MMcf/d

$4.49

$3.50

$2.50

200 MMcf/d

$4.49

$3.50

$2.50

200 MMcf/d

$4.49

$3.50

$2.50

NYMEX Collars

Call Strike

Put Strike

95 MMcf/d

$5.27

$3.75

95 MMcf/d

$5.27

$3.75

15 MMcf/d

$4.72

$3.50

15 MMcf/d

$4.72

$3.50

15 MMcf/d

$4.72

$3.50

15 MMcf/d

$4.72

$3.50

AECO Nominal Basis Swaps

338 MMcf/d

($1.25)

338 MMcf/d

($1.25)

260 MMcf/d

($1.17)

260 MMcf/d

($1.17)

260 MMcf/d

($1.17)

260 MMcf/d

($1.17)

AECO Fixed Price Swaps

152 MMcf/d

$2.26

118 MMcf/d

$2.30

100 MMcf/d

$2.00

219 MMcf/d

$1.78

219 MMcf/d

$1.78

106 MMcf/d

$2.00

AECO Collars

Call Strike

Put Strike

10 MMcf/d

$2.15

$1.69

3 MMcf/d

$2.15

$1.69

0

-

-

0

-

-

13 MMcf/d

$2.36

$1.76

20 MMcf/d

$2.36

$1.76

Waha Nominal Basis Swaps

0

-

50 MMcf/d

($1.98)

50 MMcf/d

($1.19)

0

-

0

-

0

-

Waha Fixed Price Swaps

50 MMcf/d

$0.74

50 MMcf/d

$1.77

0

-

0

-

0

-

0

-

NuVista Cash Flow Deduction ($MM)(2)

$34

$24

$16

$8

$12

$10

1)

Ovintiv also manages other key market basis differential risks for gas, oil and condensate.

2)

NuVista's financial hedge position at close of the acquisition was valued at ~$199 MM.  Those gains are booked as assets and realized into cash over time as they are settled but are not included in Non-GAAP Cash Flow.

Important information
Ovintiv reports in U.S. dollars unless otherwise noted. Production, sales and reserves estimates are reported on an after-royalties basis, unless otherwise noted. Unless otherwise specified or the context otherwise requires, references to "Ovintiv," "we," "its," "our" or to "the Company" includes reference to subsidiaries of and partnership interests held by Ovintiv Inc. and its subsidiaries.

Please visit Ovintiv's website and Investor Relations page at www.ovintiv.com and investor.ovintiv.com, where Ovintiv often discloses important information about the Company, its business, and its results of operations.

NI 51-101 Exemption
The Canadian securities regulatory authorities have issued a decision document (the "Decision") granting Ovintiv exemptive relief from the requirements contained in Canada's National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities ("NI 51-101").  As a result of the Decision, and provided that certain conditions set out in the Decision are met on an on-going basis, Ovintiv will not be required to comply with the Canadian requirements of NI 51-101 and the Canadian Oil and Gas Evaluation Handbook. The Decision permits Ovintiv to provide disclosure in respect of its oil and gas activities in the form permitted by, and in accordance with, the legal requirements imposed by the U.S. Securities and Exchange Commission ("SEC"), the Securities Act of 1933, the Securities and Exchange Act of 1934, the Sarbanes-Oxley Act of 2002 and the rules of the NYSE. The Decision also provides that Ovintiv is required to file all such oil and gas disclosures with the Canadian securities regulatory authorities on www.sedarplus.ca as soon as practicable after such disclosure is filed with the SEC.

NOTE 1: Non-GAAP Measures
Certain measures in this news release do not have any standardized meaning as prescribed by U.S. GAAP and, therefore, are considered non-GAAP measures. These measures may not be comparable to similar measures presented by other companies and should not be viewed as a substitute for measures reported under U.S. GAAP. These measures are commonly used in the oil and gas industry and/or by Ovintiv to provide shareholders and potential investors with additional information regarding the Company's liquidity and its ability to generate funds to finance its operations. For additional information regarding non-GAAP measures, see the Company's website. This news release contains references to non-GAAP measures as follows:

Non-GAAP Cash Flow is a non-GAAP measure defined as cash from (used in) operating activities excluding net change in other assets and liabilities, and net change in non-cash working capital. Non-GAAP Free Cash Flow is a non-GAAP measure defined as Non-GAAP Cash Flow in excess of capital expenditures, excluding net acquisitions and divestitures. Non-GAAP Adjusted Earnings is a non-GAAP measure defined as net earnings (loss) excluding non-cash items that management believes reduces the comparability of the Company's financial performance between periods. These items may include, but are not limited to, unrealized gains/losses on risk management, impairments, non-operating foreign exchange gains/losses, and gains/losses on divestitures. Income taxes includes adjustments to normalize the effect of income taxes calculated using the estimated annual effective income tax rate. In addition, valuation allowances and the effect of non-recurring discrete transactions are excluded in the calculation of income taxes. Net Debt is defined as long-term debt, including the current portion, less cash and cash equivalents. Adjusted EBITDA, Debt to EBITDA, Debt to Adjusted EBITDA (Leverage Target/Ratio) and Net Debt to Adjusted EBITDA are non-GAAP measures. EBITDA is defined as trailing 12-month net earnings (loss) before income taxes, depreciation, depletion and amortization, and interest. Adjusted EBITDA is EBITDA adjusted for impairments, accretion of asset retirement obligation, unrealized gains/losses on risk management, foreign exchange gains/losses, gains/losses on divestitures and other gains/losses. Debt to EBITDA is calculated as long-term debt, including the current portion, divided by EBITDA. Debt to Adjusted EBITDA is calculated as long-term debt, including the current portion, divided by Adjusted EBITDA. Net Debt to Adjusted EBITDA is calculated as Net Debt, divided by Adjusted EBITDA. Debt to Adjusted EBITDA and Net Debt to Adjusted EBITDA are non-GAAP measures monitored by management as indicators of the Company's overall financial strength. ADVISORY REGARDING OIL AND GAS INFORMATION – The conversion of natural gas volumes to barrels of oil equivalent (BOE) is on the basis of six thousand cubic feet to one barrel. BOE is based on a generic energy equivalency conversion method primarily applicable at the burner tip and does not represent economic value equivalency at the wellhead. Readers are cautioned that BOE may be misleading, particularly if used in isolation.

ADVISORY REGARDING FORWARD-LOOKING STATEMENTS – This news release contains forward-looking statements or information (collectively, "forward-looking statements") within the meaning of applicable securities legislation, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, except for statements of historical fact, that relate to the anticipated future activities, plans, strategies, objectives or expectations of the Company, including the third quarter and fiscal year 2026 guidance and expected free cash flow, the presence of recoverability of estimated reserves, the expectation of delivering sustainable durable returns to shareholders in future years, plans regarding share buybacks and debt reduction, and timing and expectations regarding capital efficiencies and well completion and performance, are forward-looking statements. When used in this news release, the use of words and phrases including "anticipates," "believes," "continue," "could," "estimates," "expects," "focused on," "forecast," "guidance," "intends," "maintain," "may," "opportunities," "outlook," "plans," "potential," "strategy," "targets," "will," "would" and other similar terminology are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words or phrases. Readers are cautioned against unduly relying on forward-looking statements which, are based on current expectations and by their nature, involve numerous assumptions that are subject to both known and unknown risks and uncertainties (many of which are beyond our control) that may cause such statements not to occur, or actual results to differ materially and/or adversely from those expressed or implied. These assumptions include, without limitation:  future commodity prices and basis differentials; the ability of the Company to access credit facilities and capital markets; the availability of attractive commodity or financial hedges and the enforceability of risk management programs; the Company's ability to capture and maintain gains in productivity and efficiency; the ability for the Company to generate cash returns and execute on its share buyback plan; expectations of plans, strategies and objectives of the Company, including anticipated production volumes and capital investment; the Company's ability to manage cost inflation and expected cost structures, including expected operating, transportation, processing and labor expenses; the outlook of the oil and natural gas industry generally, including impacts from war and changes to the geopolitical environment, including tariffs between the United States and Canada; and projections made in light of, and generally consistent with, the Company's historical experience and its perception of historical industry trends; and the other assumptions contained herein.

Although the Company believes the expectations represented by its forward-looking statements are reasonable based on the information available to it as of the date such statements are made, forward-looking statements are only predictions and statements of our current beliefs and there can be no assurance that such expectations will prove to be correct. All forward-looking statements contained in this news release are made as of the date of this news release and, except as required by law, the Company undertakes no obligation to update publicly, revise or keep current any forward-looking statements. The forward-looking statements contained or incorporated by reference in this news release, and all subsequent forward-looking statements attributable to the Company, whether written or oral, are expressly qualified by these cautionary statements.

The reader should carefully read the risk factors described in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and in other filings with the SEC or Canadian securities regulators, for a description of certain risks that could, among other things, cause actual results to differ from these forward-looking statements. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.

Further information on Ovintiv Inc. is available on the Company's website, www.ovintiv.com, or by contacting:

Investor contact:

Media contact:

(888) 525-0304 

(403) 645-2252

SOURCE Ovintiv Inc.