, /PRNewswire/ -- Paramount Skydance Corporation (NASDAQ: PSKY) ("Paramount") today announced that its Board of Directors has declared a quarterly cash dividend of $0.05 per share, payable October 1, 2026, to each of its Class A and Class B shareholders of record as of September 15, 2026.
About Paramount, a Skydance Corporation
Paramount, a Skydance Corporation is a next-generation global media and entertainment company, comprised of three business segments: Studios, Direct-to-Consumer, and TV Media. PSKY's portfolio unites legendary brands, including Paramount Pictures, Paramount Television, CBS, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, Showtime, Paramount+, Pluto TV, and Skydance Animation, Film, Television, Interactive/Games, and Paramount Sports Entertainment. For more information, please visit www.paramount.com.
NEW YORK--(BUSINESS WIRE)--Kate Spade New York, a Tapestry (NYSE:TPR) brand, today announced the appointment of Jonathan Saunders as Executive Creative Director, effective August 26, 2026. With a deep understanding of the brand's DNA, Saunders brings a modern view of youthful femininity and a creative vision that honors Kate Spade's heritage while ushering in the brand's next era. Saunders will lead the brand's direction across product design and visual identity, reporting to and partnering clo.
WALTHAM, Mass., July 21, 2026 (GLOBE NEWSWIRE) -- Nano Dimension Ltd. (Nasdaq: NNDM) (“Nano Dimension,” “Nano”, or the “Company”) today announced the appointment of Moshe Rozenbaum as Interim Chief Executive Officer (“CEO”), effective immediately. The Company's Board of Directors (the “Board”) has also appointed Phillip Borenstein as Chairman of the Board.
ToplineNorthrop Grumman CEO Kathy Warden on Tuesday appeared to avoid a question about whether the defense contractor’s robotic spacecraft—scheduled for an evening launch by SpaceX—could be weaponized, suggesting she would “leave it up to the U.S. government.”
“I will leave it up to the U.S. government,” CEO Kathy Warden said during an earnings call.
Copyright 2026 The Associated Press. All rights reserved.
Key FactsNorthrop Grumman’s Mission Robotic Vehicle (MRV) is scheduled to launch on Tuesday barring a weather delay, Warden said during the firm’s earnings call, with a roughly four-hour launch window opening at 5:15 p.m. EDT.
Northrop Grumman has pitched its MRV as the first robotic spacecraft capable of repairing, relocating and upgrading satellites in orbit, and Warden indicated the MRV will become operational in 2027 after orbital positioning and testing.
When asked by Melius Research analyst Scott Mikus whether there was a market for an “offensive version” of the MRV that could disable other satellites, Warden replied: “I will leave it up to the U.S. government to decide how that capability might fulfill mission objectives.”
big number$105 billion. That’s the size of Northrop Grumman’s backlog, a record, the company reported Tuesday. The defense contractor raised its sales outlook for the year to up to $44.25 billion, above consensus Wall Street estimates of just below $44 billion, according to FactSet. Earnings through Northrop Grumman’s latest quarter came at $4.86 per share and revenue hit $44.8 billion, well above projections of $2.96 per share and $35.7 billion, respectively.
tangentTesla CEO Elon Musk said in April the automaker’s humanoid robot Optimus “will not just be Tesla’s biggest product ever, but probably the biggest product ever.” Tesla unveiled its robotics project in 2021, as Musk said the company’s goal is to “make a useful humanoid robot as quickly as possible.”
key backgroundNorthrop Grumman has positioned space as one of its major strategic business targets in recent years, landing a series of contracts with the U.S. military. The defense contractor has also expanded into servicing satellites through its SpaceLogistics subsidiary, which developed the MRV. Northrop Grumman’s space segment accounted for 15% of all of its revenue through the latest quarter in addition to a backlog exceeding $16 billion.
further readingForbesTesla Beats First-Quarter Expectations Amid Pivot To Robotics, AIBy Alicia Park
Northrop Grumman Corporation (NOC) Q2 2026 Earnings Call July 21, 2026 9:30 AM EDT
Company Participants
Adam Barr
Kathy Warden - Chair, CEO & President
John Greene - Corporate VP & CFO
Conference Call Participants
Seth Seifman - JPMorgan Chase & Co, Research Division
Sheila Kahyaoglu - Jefferies LLC, Research Division
Gavin Parsons - UBS Investment Bank, Research Division
Jeremy Jason - Citigroup Inc., Research Division
Scott Deuschle - Deutsche Bank AG, Research Division
David Strauss - Wells Fargo Securities, LLC, Research Division
Matthew Akers - BNP Paribas, Research Division
Justin Lang - Morgan Stanley, Research Division
Scott Mikus - Melius Research LLC
Andre Madrid - BTIG, LLC, Research Division
Peter Arment - Robert W. Baird & Co. Incorporated, Research Division
Gautam Khanna - TD Cowen, Research Division
Myles Walton - Wolfe Research, LLC
Presentation
Operator
Good day, and thank you, ladies and gentlemen, and welcome to Northrop Grumman's Second Quarter 2026 Conference Call. Today's call is being recorded. My name is Josh, and I will be your operator today. [Operator Instructions]
I would now like to turn the call over to your host, Mr. Adam Barr, Head of Investor Relations. Mr. Barr, please proceed.
Adam Barr
Good morning, and welcome to Northrop Grumman's Second Quarter 2026 Conference Call. Before we begin, please note that matters discussed on today's call, including guidance and outlooks for 2026 and beyond, reflect the company's judgment based on information available at the time of this call. They constitute forward-looking statements under the safe harbor provisions of federal securities laws. Forward-looking statements involve risks and uncertainties, including those noted in today's press release and our SEC filings, which may cause actual company results to differ materially.
Today's call will also include non-GAAP financial measures, which are reconciled to our GAAP results in the earnings release. Additionally, we refer to a presentation that has been posted to our Investor Relations
, /PRNewswire/ -- Neurocrine Biosciences, Inc. (Nasdaq: NBIX) today announced the appointment of Samir Siddhanti as Chief Business Officer and a member of the company's executive Management Committee.
As Chief Business Officer, Siddhanti will lead Neurocrine's enterprise growth strategy, overseeing business development, corporate strategy, alliance management and program management to maximize the value of the company's expanding pipeline through both internal innovation and strategic external opportunities.
Since joining Neurocrine in 2017, Siddhanti has assumed leadership roles of increasing responsibility across business development, alliance management and corporate strategy. Most recently serving as Vice President, Business Development, he has led numerous strategic transactions and partnerships that have expanded Neurocrine's pipeline and commercial portfolio, including the company's recent $2.9 billion acquisition of Soleno Therapeutics. He also serves as Program Team Leader for direclidine, providing strategic leadership for the program's development in schizophrenia and bipolar disorder, while helping shape the company's broader muscarinic portfolio strategy.
Siddhanti's unique combination of strategic, transactional and development leadership reflects Neurocrine's integrated approach to building a differentiated biotechnology company and positions him well to help drive the company's next phase of growth.
"Throughout his tenure, Samir has become one of the company's key leaders, helping shape Neurocrine's long-term growth strategy through disciplined portfolio prioritization, thoughtful capital allocation and the execution of transformative business development initiatives," said Kyle W. Gano, Ph.D., Chief Executive Officer, Neurocrine Biosciences. "As he steps into this expanded role, I look forward to his continued leadership as we advance our pipeline, pursue new opportunities and work to bring meaningful new therapies to patients with great needs."
"I've had the privilege of working alongside exceptional colleagues throughout my time at Neurocrine, and I'm honored by the opportunity to serve as Chief Business Officer," Siddhanti said. "I'm grateful for the trust Kyle and the leadership team have placed in me. What makes Neurocrine special is our people, our science and our shared commitment to improving patients' lives. I look forward to continuing to work across the organization to execute our strategy, strengthen our pipeline and help bring meaningful new medicines to patients."
Prior to joining Neurocrine, Siddhanti was a member of the biotechnology equity research team at Goldman Sachs. He holds Bachelor of Science and Master of Science degrees in Management Science and Engineering from Stanford University.
About Neurocrine Biosciences
Neurocrine Biosciences is a leading biopharmaceutical company with a simple purpose: to relieve suffering for people with great needs. We are dedicated to discovering, developing and commercializing life-changing treatments for patients with under-addressed neurological, psychiatric, endocrine and immunological disorders. The company's diverse portfolio includes FDA-approved treatments for tardive dyskinesia, chorea associated with Huntington's disease, classic congenital adrenal hyperplasia, hyperphagia in Prader-Willi syndrome, endometriosis* and uterine fibroids*, as well as a robust pipeline including multiple compounds in mid- to late-phase clinical development across our core therapeutic areas. For more than three decades, we have applied our unique insight into neuroscience and the interconnections between brain and body systems to treat complex conditions. We relentlessly pursue medicines to ease the burden of debilitating diseases and disorders, because you deserve brave science. For more information, visit neurocrine.com, and follow the company on LinkedIn, X, Facebook and YouTube. (*in collaboration with AbbVie)
NEUROCRINE, the NEUROCRINE BIOSCIENCES Logo, and YOU DESERVE BRAVE SCIENCE, are registered trademarks of Neurocrine Biosciences, Inc.
Forward-Looking Statements
In addition to historical facts, this press release contains forward-looking statements that involve a number of risks and uncertainties. These statements include, but are not limited to, statements regarding the Company's ability to execute its growth strategy, maximize the value of its pipeline and commercial portfolio through internal innovation and strategic and external opportunities, and bring meaningful new therapies to patients. Factors that could cause actual results to differ materially from those stated or implied in the forward-looking statements include, but are not limited to, the following: challenges associated with organizational changes and the Company's ability to effectively execute its strategic priorities; risks and uncertainties associated with Neurocrine Biosciences' business and finances in general; risks and uncertainties associated with the commercialization of our products; risks related to our ability to realize the anticipated benefits of the acquisition of Soleno Therapeutics, including the possibility that the expected benefits from the acquisition will not be realized or will not be realized within the expected time period and that we will not be able to integrate Soleno Therapeutics' business successfully or that such integration may be more difficult, time-consuming or costly than expected; risks related to the development of our product candidates; risks associated with our dependence on third parties for development, manufacturing, and commercialization activities for our products and product candidates, and our ability to manage these third parties; risks that the FDA or other regulatory authorities may make adverse decisions regarding our products or product candidates; risks that development activities may not be initiated or completed on time or at all, or may be delayed for regulatory, manufacturing, or other reasons, may not be successful or replicate previous clinical trial results, may fail to demonstrate that our product candidates are safe and effective, or may not be predictive of real-world results or of results in subsequent clinical trials; risks that the potential benefits of the agreements with our collaboration partners may never be realized; risks that our products, and/or our product candidates may be precluded from commercialization by the proprietary or regulatory rights of third parties, or have unintended side effects, adverse reactions or incidents of misuse; risks associated with government and third-party regulatory and/or policy efforts which may, among other things, impose sales and pharmaceutical pricing controls on our products or limit coverage and/or reimbursement for our products; risks associated with competition from other therapies or products, including potential generic entrants for our products; risks associated with our ability to manage the growth of our organization; and other risks described in our periodic reports filed with the Securities and Exchange Commission, including our Quarterly Report on Form 10-Q for the quarter ended March 31, 2026. Neurocrine Biosciences disclaims any obligation to update the statements contained in this press release after the date hereof other than as required by law.
GREENWICH, Conn.--(BUSINESS WIRE)---- $IBKR #Earnings--Interactive Brokers Group, Inc. (Nasdaq: IBKR), an automated global broker, announced results for the quarter ended June 30, 2026. Reported and adjusted diluted earnings per share were both $0.69 for the current quarter. For the year-ago quarter, reported and adjusted diluted earnings per share were both $0.51. Reported net revenues were $1.90 billion for the current quarter and $1.88 billion as adjusted. For the year-ago quarter, reported and adjusted net rev.
Key Takeaways WRB's Q2 revenues rose 3.6% as premium growth and investment income topped estimates. Lower catastrophe losses and a 90 combined ratio supported underwriting profitability.WRB returned $334.1 million to shareholders through buybacks and dividends. W.R. Berkley Corporation (WRB - Free Report) reported second-quarter 2026 operating income of $1.27 per share, which beat the Zacks Consensus Estimate by 16.5%. The bottom line increased 21% year over year.
The insurer benefited from higher premiums, strong investment income growth and lower catastrophe losses.
Behind the HeadlinesW.R. Berkley’s net premiums written were about $3.4 billion, up 2.4% year over year. The figure surpassed our estimate of $3.4 billion.
Operating revenues totalled $ 3.8 billion, up 3.6% year over year, driven by higher net premiums earned, improved net investment income, and higher revenues from non-insurance businesses. The top line surpassed the consensus estimate by 1.87%.
Net investment income grew 10.4% to $418.7 million, supported by higher invested assets and higher portfolio yields. The figure topped our estimate of $407 million. The consensus estimate was $395.6 million.
Total expenses declined 0.3% to $3.1 billion, reflecting lower other operating costs and interest expense, partly offset by higher loss and loss expenses. The figure was lower than our estimate of $3.20 billion.
The loss ratio improved 160 basis points (bps) to 61.5, while the expense ratio remained flat year over year at 28.5.
Catastrophe losses of $62.4 million were lower than the $99.2 million incurred in the year-ago quarter. The consolidated combined ratio (a measure of underwriting profitability) improved 160 basis points year over year to 90, lower than the Zacks Consensus Estimate of 92.
Q2 Segment DetailsNet premiums written at the Insurance segment increased 3.7% year over year to $3.12 billion in the quarter, primarily driven by higher premiums from other liability, short-tail lines, auto and professional liability. The figure was slightly higher than our estimate.
The combined ratio deteriorated 70 basis points year over year to 91.4. Our estimate was 94.1.
Net premiums written in the Reinsurance & Monoline Excess segment decreased 9.3% year over year to $306.3 million. The figure missed our estimate of $393.8 million.
The combined ratio improved 810 bps to 79.3, which was lower than the Zacks Consensus Estimate. Our estimate for the metric was 86.1.
WRB's Financial UpdateW.R. Berkley exited the second quarter of 2026 with total assets worth $45.7 billion compared with $43.9 billion at the 2025-end level.
Senior notes and other debt increased 0.01% from the 2025-end levels to $1.83 billion.
Book value per share increased 3% from 2025-end levels to $26.50.
Cash flow from operations was $800 million, up 13.7% year over year.
Operating return on equity in the second quarter increased 50 basis points year over year to 20.5%.
Capital DeploymentTotal capital returned to shareholders was $334.1 million, consisting of $111.5 million in share repurchases, $37.1 million in regular dividends and $185.5 million in special dividends.
WRB’s Zacks RankW.R. Berkley currently has a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other InsurersThe Progressive Corporation’s (PGR - Free Report) second-quarter 2026 earnings per share of $4.85 beat the Zacks Consensus Estimate by 3.2%. The bottom line, however, decreased 6.1% year over year. Net premiums written were $21.1 billion in the quarter, up 5% from $20.1 billion a year ago.
Net premiums earned grew 6% to $21.6 billion. The reported figure met the Zacks Consensus Estimate. Net realized gains on securities were $604 million, up 56% year over year. Combined ratio — the percentage of premiums paid out as claims and expenses — deteriorated 110 basis points from the prior-year quarter’s level to 87.1.
The Travelers Companies, Inc. (TRV - Free Report) reported second-quarter 2026 core income of $10.04 per share, which beat the Zacks Consensus Estimate of $5.21 by 92.7%. The bottom line climbed 54% year over year. Revenues of $12.09 billion missed the Zacks Consensus Estimate of $12.27 billion by 1.5%.
Net investment income rose 14% year over year to $1.07 billion pre-tax ($883 million after tax). The combined ratio improved 670 basis points year over year to 83.6%, reflecting lower catastrophe losses, stronger reserve development and a better underlying combined ratio.
Upcoming ReleasesCincinnati Financial Corporation (CINF - Free Report) has an Earnings ESP of +7.2% and a Zacks Rank #2 at present. The Zacks Consensus Estimate for second-quarter 2026 earnings is pegged at $1.82, indicating a year-over-year decrease of 7.6%.
CINF’s earnings beat estimates in each of the last four reported quarters.
, /PRNewswire/ -- EQT Corporation (NYSE: EQT) today announced financial and operational results for the second quarter of 2026.
Second Quarter 2026 Results:
Production: Sales volume of 634 Bcfe, above the high-end of guidance due to strong well performance, system pressure optimization and lower-than-expected price related curtailments Capital Expenditures: $666 million, 9% below the low-end of guidance, benefiting from operational efficiency gains and lower-than-expected infrastructure spending Realized Pricing: Differential of $(0.67), favorable to guidance despite widening basis during the quarter due to benefits from marketing optimization and curtailment strategy Operating Costs: Total per unit operating costs of $1.03 per Mcfe, at the low end of guidance driven by lower-than-expected SG&A, transmission and LOE expenses Cash Flow: Net cash provided by operating activities of $1,048 million; generated free cash flow attributable to EQT(1) of $330 million Balance Sheet: Exited the quarter with $5.7 billion total debt and $5.5 billion net debt,(1) inclusive of $101 million of working capital usage(2) during the quarter; subsequent to the quarter end, repaid $115 million of 2026 debentures Second Quarter 2026 and Recent Highlights:
Record-Setting Operations: Drilled the longest lateral in the history of shale development at more than 29,000' while staying 100% in zone; set new basin-wide 24-hour drilling record and new EQT 48-hour drilling record in the process Raising Production Guidance: Raising 2026 production guidance by ~90 Bcfe due to better-than-expected benefits from compression investments improving both existing and new wells and shallowing decline rates; full-year capital spending guidance reduced by $25 million Premium Power Supply Deal: Signed 10-year definitive agreement with Competitive Power Ventures (CPV) to supply 325,000 Dth/d of natural gas to the CPV Shay Energy Center in Doddridge County, WV; pricing linked to PJM power prices, providing a substantial uplift relative to in-basin pricing Accelerating MVP Southgate: Secured all key regulatory approvals; electing to accelerate $85 million of capital contributions to de-risk and complete construction by year-end 2026 LNG Offtake SPA: Signed 5-year offtake agreement with a large Asian integrated energy company for 0.5 million tonnes per annum of LNG sourced from various Gulf Coast LNG facilities beginning in 2028; deal is expected to increase 2028 free cash flow(1) by ~$45 million at recent strip pricing Blackline Midstream Acquisition: Closed on the $77 million acquisition of Blackline Midstream, consisting of two propane storage and distribution terminals in New England; advances vertical integration strategy at an attractive valuation with significant synergy potential and minimal capital requirements President and CEO Toby Z. Rice stated, "EQT delivered outstanding operational and financial performance in the second quarter, driven by record-setting execution and strong well productivity that resulted in production well above the high end of guidance. Due to the sustained production outperformance resulting from our compression investments, we are raising 2026 production guidance by 90 Bcfe, while lowering our full-year CapEx guidance by $25 million. These results further demonstrate the strength of our low-cost operating model and our ability to consistently create value for shareholders."
Rice continued, "We also announced another long-term gas supply agreement supporting a new 2-gigawatt power generation facility in the heart of West Virginia, further validating our view that the next wave of natural gas demand growth is emerging in our backyard. This agreement provides EQT a substantial premium over in-basin pricing and is another example of how EQT is converting growing regional demand into durable shareholder value. As power generators and data center developers increasingly look to secure reliable, long-term energy supply, EQT has become the partner of choice in Appalachia, leveraging our scale, infrastructure footprint and commercial capabilities to capture an outsized share of this demand growth."
(1)
A non-GAAP financial measure. See the Non-GAAP Disclosures section of this news release for the definition of, and other important information regarding, this non-GAAP financial measure.
(2)
Represents the decrease in changes in other assets and liabilities as derived from the Statements of Condensed Consolidated Cash Flows to be included in EQT Corporation's Quarterly Report on Form 10-Q for the quarter ended June 30, 2026.
Second Quarter 2026 Financial and Operational Performance
Three Months Ended
June 30,
2026
2025
Change
(Millions, unless otherwise noted)
Total sales volume (Bcfe)
634
568
66
Average realized price ($/Mcfe)
$ 2.65
$ 2.81
$ (0.16)
Net income attributable to EQT
$ 211
$ 784
$ (573)
Adjusted net income attributable to EQT (a)
$ 244
$ 273
$ (29)
Diluted income per share (EPS)
$ 0.34
$ 1.30
$ (0.96)
Adjusted EPS (a)
$ 0.39
$ 0.45
$ (0.06)
Net income
$ 281
$ 857
$ (576)
Adjusted EBITDA (a)
$ 1,203
$ 1,158
$ 45
Adjusted EBITDA attributable to EQT (a)
$ 1,067
$ 1,033
$ 34
Net cash provided by operating activities
$ 1,048
$ 1,242
$ (194)
Adjusted operating cash flow (a)
$ 1,149
$ 918
$ 231
Adjusted operating cash flow attributable to EQT (a)
$ 1,014
$ 794
$ 220
Capital expenditures
$ 666
$ 554
$ 112
Capital contributions to equity method investments
$ 29
$ 24
$ 5
Free cash flow (a)
$ 454
$ 340
$ 114
Free cash flow attributable to EQT (a)
$ 330
$ 240
$ 90
(a)
A non-GAAP financial measure. See the Non-GAAP Disclosures section of this news release for the definition of, and other important information regarding, this non-GAAP financial measure.
Per Unit Operating Costs
The following table presents certain of the Company's consolidated operating costs on a per unit basis.(a)
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
($/Mcfe)
Gathering
$ 0.09
$ 0.08
$ 0.09
$ 0.08
Transmission
0.40
0.45
0.41
0.45
Processing
0.12
0.15
0.12
0.15
Lease operating expense (LOE)
0.10
0.09
0.09
0.08
Production taxes
0.06
0.07
0.08
0.08
Operating and maintenance (O&M)
0.09
0.10
0.09
0.09
Selling, general and administrative (SG&A)
0.17
0.14
0.16
0.15
Operating costs
$ 1.03
$ 1.08
$ 1.04
$ 1.08
Production depletion
$ 0.95
$ 0.95
$ 0.93
$ 0.95
(a)
References in this release to the "Company" refer to EQT Corporation together with its consolidated subsidiaries. As used throughout this release, per unit operating costs reflect, for each period presented, the consolidated amount of such operating cost for the Company (aggregated irrespective of business segment) divided by total sales volume (Mcfe).
Gathering expense per Mcfe increased for the three months ended June 30, 2026 compared to the same period in 2025 due primarily to higher volumes gathered by third parties from wells turned-in-line in the first quarter of 2026.
Transmission expense per Mcfe decreased for the three months ended June 30, 2026 compared to the same period in 2025 due primarily to higher sales volume.
Processing expense per Mcfe decreased for the three months ended June 30, 2026 compared to the same period in 2025 due primarily to decreased production of gas that requires processing and higher sales volume.
Selling, general and administrative expense increased for the three months ended June 30, 2026 compared to the same period in 2025 due primarily to higher long-term incentive compensation costs and higher professional service costs.
Liquidity
As of June 30, 2026, the Company had $52 million of borrowings outstanding under EQT Corporation's $3.5 billion revolving credit facility. Total liquidity, excluding available capacity under Eureka Midstream, LLC's (Eureka) revolving credit facility, as of June 30, 2026 was approximately $3.6 billion.
As of June 30, 2026, total debt and net debt(1) were $5.7 billion and $5.5 billion, respectively, compared to $7.8 billion and $7.7 billion, respectively, as of December 31, 2025.
(1)
A non-GAAP financial measure. See the Non-GAAP Disclosures section of this news release for the definition of, and other important information regarding, this non-GAAP financial measure.
Blackline Midstream Acquisition
On July 21, 2026, the Company completed its acquisition of all of the operating subsidiaries of Blackline Midstream, LLC (Blackline). Blackline owns and operates two strategically located propane storage and distribution terminals in New England, representing the largest propane facilities in the region with rail, waterborne and retail access. Collectively, the assets provide 46 million gallons of storage capacity, with the Company currently supplying ~60% of Blackline's propane volumes. The assets provide optionality for EQT's propane production, improve flow assurance, enhance the Company's ability to optimize pricing and create additional commercial opportunity through domestic and international supply channels. The $77 million purchase price equates to a ~20% free cash flow yield.(1)
(1)
EQT expects the Blackline assets to generate average annual free cash flow over the next five years of approximately $15 million. The free cash flow yield referred to in this news release is derived by dividing the Blackline assets' projected 2027 – 2031 average annual free cash flow by the purchase price (assuming no adjustments thereto). Free cash flow and free cash flow yield are non-GAAP financial measures. See the Non-GAAP Disclosures section of this news release for important information regarding these non-GAAP financial measures.
Third Quarter 2026 Outlook
The Company is raising its full-year 2026 total sales volume guidance to 2,375 – 2,450 Bcfe, reflecting strong performance to date. The Company expects total sales volume of 570 – 620 Bcfe in the third quarter of 2026. The Company now expects its full-year 2026 maintenance capital expenditures to total $2,040 – $2,190 million, inclusive of $510 – $580 million in the third quarter of 2026. The Company expects growth capital expenditures of $200 – $240 million in the third quarter of 2026. The Company plans to turn-in-line (TIL) 34 – 50 net wells in the third quarter of 2026.
2026 Guidance
Production
Q3 2026
Full Year 2026
Total sales volume (Bcfe)
570 – 620
2,375 – 2,450
Liquids sales volume, excluding ethane (Mbbl)
3,400 – 3,700
14,200 – 15,000
Ethane sales volume (Mbbl)
1,750 – 1,900
7,700 – 8,100
Total liquids sales volume (Mbbl)
5,150 – 5,600
21,900 – 23,100
Btu uplift (MMBtu/Mcf)
1.050 – 1.060
1.050 – 1.060
Average Differential ($/Mcf, including basis hedges)
($0.75) – ($0.65)
($0.55) – ($0.35)
Resource Counts
Top-hole rigs
2 – 3
2 – 3
Horizontal rigs
2 – 3
2 – 3
Frac crews
2 – 3
2 – 3
Third-party Midstream Revenue ($ Millions)
$130 – $155
$600 – $700
Per Unit Operating Costs ($/Mcfe)
Gathering
$0.09 – $0.11
$0.09 – $0.11
Transmission
$0.42 – $0.44
$0.41 – $0.44
Processing
$0.11 – $0.13
$0.11 – $0.13
LOE
$0.11 – $0.13
$0.10 – $0.12
Production taxes
$0.06 – $0.08
$0.07 – $0.09
O&M
$0.10 – $0.12
$0.09 – $0.11
SG&A
$0.20 – $0.22
$0.18 – $0.20
Operating costs
$1.09 – $1.23
$1.05 – $1.20
Equity Method Investments and Midstream JV Noncontrolling Interest ($ Millions)
Distributions from equity method investments (a)
$60 – $70
$220 – $250
Distributions to PipeBox LLC (the Midstream JV) noncontrolling interest (b)
$110 – $125
$430 – $470
Capital Expenditures and Capital Contributions ($ Millions)
Upstream maintenance
$385 – $435
$1,600 – $1,700
Midstream maintenance
$70 – $80
$220 – $250
Corporate and capitalized costs
$55 – $65
$220 – $240
Total maintenance capital expenditures
$510 – $580
$2,040 – $2,190
Growth capital expenditures
$200 – $240
$580 – $640
Capital contributions to equity method investments (c)
$60 – $70
$150 – $170
(a)
Includes distributions from Series A of Mountain Valley Pipeline, LLC for MVP Mainline and Laurel Mountain Midstream, LLC (LMM).
(b)
Assumes Midstream JV cash distributions of 60% to third-party noncontrolling interest.
(c)
Includes capital contributions to Mountain Valley Pipeline, LLC (the MVP Joint Venture), including to Series A of Mountain Valley Pipeline, LLC for MVP Mainline, Series B of Mountain Valley Pipeline, LLC for MVP Southgate and Series C of Mountain Valley Pipeline, LLC for MVP Boost, and LMM.
Second Quarter 2026 Earnings Webcast Information
The Company's conference call with securities analysts begins at 10:00 a.m. ET on Wednesday July 22, 2026 and will be broadcast live via webcast. An accompanying presentation is available on the Company's investor relations website, www.ir.eqt.com, under "Events & Presentations." To access the live audio webcast, visit the Company's investor relations website. A replay will be archived and available for one year in the same location after the conclusion of the live event.
Hedging (as of July 14, 2026)
The following table summarizes the approximate volume and prices of the Company's NYMEX hedge positions. The difference between the fixed price and NYMEX price is included in average differential presented in the Company's price reconciliation.
Q3 2026 (a)
Q4 2026
Q1 2027
Q2 2027
Q3 2027
Q4 2027
Hedged Volume (MMDth)
125
108
62
138
140
47
Hedged Volume (MMDth/d)
1.4
1.2
0.7
1.5
1.5
0.5
Swaps – Short
Volume (MMDth)
—
—
—
65
66
22
Avg. Price ($/Dth)
$ —
$ —
$ —
$ 3.16
$ 3.16
$ 3.16
Calls – Short
Volume (MMDth)
125
108
62
73
74
25
Avg. Strike ($/Dth)
$ 4.94
$ 5.13
$ 5.77
$ 4.51
$ 4.51
$ 4.51
Puts – Long
Volume (MMDth)
125
108
62
73
74
25
Avg. Strike ($/Dth)
$ 3.50
$ 3.72
$ 3.65
$ 3.00
$ 3.00
$ 3.00
Puts – Short
Volume (MMDth)
—
—
25
73
74
25
Avg. Strike ($/Dth)
$ —
$ —
$ 2.50
$ 2.50
$ 2.50
$ 2.50
(a)
July 1 through September 30.
The Company also entered into derivative instruments to hedge basis. The Company may use other contractual agreements to implement its commodity hedging strategy from time to time.
Non-GAAP Disclosures
This news release includes the non-GAAP financial measures described below. These non-GAAP measures are defined and reconciled to the most directly comparable GAAP measure. These non-GAAP measures are intended to provide additional information only and should not be considered as alternatives to, or more meaningful than, net income attributable to EQT Corporation, diluted EPS, net income, net cash provided by operating activities, total Upstream operating revenues, total debt, or any other measure calculated in accordance with GAAP. Certain items excluded from these non-GAAP measures are significant components in understanding and assessing a company's financial performance, such as a company's cost of capital, tax structure, and historic costs of depreciable assets.
Adjusted Net Income Attributable to EQT and Adjusted EPS
Adjusted net income attributable to EQT is defined as net income attributable to EQT Corporation, excluding loss on sale/exchange of long-lived assets, impairments, the revenue impact of changes in the fair value of derivative instruments prior to settlement and certain other items that the Company's management believes do not reflect the Company's core operating performance. Adjusted EPS is defined as adjusted net income attributable to EQT divided by diluted weighted average common shares outstanding.
The Company's management believes that adjusted net income attributable to EQT and adjusted EPS provide useful information to investors regarding the Company's financial condition and results of operations because it helps facilitate comparisons of operating performance and earnings trends across periods by excluding the impact of items that, in their opinion, do not reflect the Company's core operating performance. For example, adjusted net income attributable to EQT and adjusted EPS reflect only the impact of settled derivative contracts; thus, the measures exclude the often-volatile revenue impact of changes in the fair value of derivative instruments prior to settlement.
The table below reconciles adjusted net income attributable to EQT and adjusted EPS with net income attributable to EQT Corporation and diluted EPS, respectively, the most comparable financial measures calculated in accordance with GAAP, each as derived from the Statements of Condensed Consolidated Operations to be included in EQT Corporation's Quarterly Report on Form 10-Q for the quarter ended June 30, 2026.
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
(Thousands, except per share amounts)
Net income attributable to EQT Corporation
$ 211,425
$ 784,147
$ 1,698,654
$ 1,026,286
Add (deduct):
Loss on sale/exchange of long-lived assets
3,577
2,990
3,552
3,221
Impairment and expiration of leases
6,232
3,254
10,055
5,915
(Gain) loss on derivatives
(44,640)
(719,964)
193,629
(41,045)
Net cash settlements received (paid) on derivatives
72,614
(101,364)
(231,048)
(193,350)
Other expenses (a)
3,884
147,105
6,620
153,731
Loss on debt extinguishment
341
5,889
29,869
17,569
Tax impact of non-GAAP items (b)
(9,903)
151,016
(2,987)
13,956
Adjusted net income attributable to EQT
$ 243,530
$ 273,073
$ 1,708,344
$ 986,283
Diluted weighted average common shares outstanding
629,049
602,924
629,070
602,896
Diluted EPS
$ 0.34
$ 1.30
$ 2.70
$ 1.70
Adjusted EPS
$ 0.39
$ 0.45
$ 2.72
$ 1.64
(a)
Consists primarily of transaction costs associated with acquisitions and other strategic transactions as well as costs related to exploring new venture opportunities. In addition, other expenses for both the three and six months ended June 30, 2025 included the impact of $133.7 million of net expense related to a securities class action settlement.
(b)
The tax impact of non-GAAP items represents the incremental tax expense/benefit that would have been incurred by the Company had these items been excluded from net income attributable to EQT Corporation. This approach resulted in a blended tax rate of 23.6% and 22.8% for the three months ended June 30, 2026 and 2025, respectively, and 23.6% and 25.9% for the six months ended June 30, 2026 and 2025, respectively. The blended tax rates differ from the Company's statutory tax rate due primarily to state taxes, including valuation allowances limiting certain state tax benefits.
Adjusted EBITDA, Adjusted EBITDA Attributable to Noncontrolling Interests and Adjusted EBITDA Attributable to EQT
Adjusted EBITDA is defined as net income excluding net interest expense, income tax expense, depreciation, depletion and amortization, loss on sale/exchange of long-lived assets, impairments, the revenue impact of changes in the fair value of derivative instruments prior to settlement and certain other items that the Company's management believes do not reflect the Company's core operating performance. Adjusted EBITDA attributable to EQT is defined as adjusted EBITDA less adjusted EBITDA attributable to noncontrolling interests. Adjusted EBITDA attributable to noncontrolling interests is defined as the proportionate share of adjusted EBITDA attributable to the third-party ownership interests in the Non-Wholly Owned Consolidated Subsidiaries (defined below).
The Company's management believes that these measures provide useful information to investors regarding the Company's financial condition and results of operations because they help facilitate comparisons of operating performance and earnings trends across periods by excluding the impact of items that, in their opinion, do not reflect the Company's core operating performance. For example, adjusted EBITDA reflects only the impact of settled derivative instruments and excludes the often-volatile revenue impact of changes in the fair value of derivative instruments prior to settlement. In addition, adjusted EBITDA includes the impact of distributions received from equity method investments, which excludes the impact of depreciation included within equity earnings from equity method investments and helps facilitate comparisons of the core operating performance of the Company's equity method investments.
The table below reconciles adjusted EBITDA and adjusted EBITDA attributable to EQT with net income, the most comparable financial measure as calculated in accordance with GAAP, as reported in the Statements of Condensed Consolidated Operations to be included in EQT Corporation's Quarterly Report on Form 10-Q for the quarter ended June 30, 2026.
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
(Thousands)
Net income
$ 281,448
$ 856,656
$ 1,835,378
$ 1,172,074
Add (deduct):
Interest expense, net
75,452
105,668
172,229
223,237
Income tax expense
84,933
235,615
518,285
314,283
Depreciation, depletion and amortization
689,592
623,471
1,344,384
1,244,246
Loss on sale/exchange of long-lived assets
3,577
2,990
3,552
3,221
Impairment and expiration of leases
6,232
3,254
10,055
5,915
(Gain) loss on derivatives
(44,640)
(719,964)
193,629
(41,045)
Net cash settlements received (paid) on derivatives
72,614
(101,364)
(231,048)
(193,350)
Other expenses (a)
3,884
147,105
6,620
153,731
Income from investments
(44,732)
(67,174)
(122,241)
(93,636)
Distributions from equity method investments
74,289
66,319
121,323
132,881
Loss on debt extinguishment
341
5,889
29,869
17,569
Adjusted EBITDA
1,202,990
1,158,465
3,882,035
2,939,126
Deduct: Adjusted EBITDA attributable to noncontrolling interests (b)
(135,958)
(125,164)
(268,041)
(261,964)
Adjusted EBITDA attributable to EQT
$ 1,067,032
$ 1,033,301
$ 3,613,994
$ 2,677,162
(a)
Consists primarily of transaction costs associated with acquisitions and other strategic transactions as well as costs related to exploring new venture opportunities. In addition, other expenses for both the three and six months ended June 30, 2025 included the impact of $133.7 million of net expense related to a securities class action settlement.
(b)
A non-GAAP financial measure. See below for a reconciliation of this non-GAAP financial measure to the most comparable financial measure as calculated in accordance with GAAP.
The Company consolidates its controlling equity interests in the Midstream JV and Eureka Midstream Holdings, LLC (Eureka Holdings and, together with the Midstream JV, the Non-Wholly Owned Consolidated Subsidiaries). The table below reconciles adjusted EBITDA of the Non-Wholly Owned Consolidated Subsidiaries and adjusted EBITDA attributable to noncontrolling interests with net income of the Non-Wholly Owned Consolidated Subsidiaries, the most comparable financial measure as calculated in accordance with GAAP. The Company's management believes that adjusted EBITDA attributable to noncontrolling interests provides useful information to investors regarding the impact of the third-party ownership interest in the Non-Wholly Owned Consolidated Subsidiaries on the Company's financial condition and results of operations.
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
(Thousands)
Non-Wholly Owned Consolidated Subsidiaries:
Net income
$ 168,558
$ 164,435
$ 369,790
$ 342,878
Add (deduct):
Interest expense, net
3,434
3,381
6,781
7,272
Depreciation and amortization
31,944
30,842
65,075
61,844
Loss on sale/exchange of long-lived assets
724
302
724
349
Income from investments
(42,954)
(40,711)
(97,986)
(83,574)
Distributions from equity method investments
70,921
58,724
114,187
124,511
Adjusted EBITDA
232,627
216,973
458,571
453,280
Deduct: Adjusted EBITDA of the Non-Wholly Owned Consolidated Subsidiaries attributable to EQT (a)
(96,669)
(91,809)
(190,530)
(191,316)
Adjusted EBITDA attributable to noncontrolling interests
$ 135,958
$ 125,164
$ 268,041
$ 261,964
(a)
Adjusted EBITDA of the Non-Wholly Owned Consolidated Subsidiaries attributable to EQT is calculated based on EQT Corporation's current 40% Class A Unitholder share of available cash flow distributions from the Midstream JV and 60% ownership interest in Eureka Holdings. The Company believes that using its distribution share from the Midstream JV in the calculation of adjusted EBITDA of the Non-Wholly Owned Consolidated Subsidiaries attributable to EQT best reflects the economic impact of the Company's investment in the Midstream JV on adjusted EBITDA and earnings trends.
Adjusted Operating Cash Flow, Adjusted Operating Cash Flow Attributable to EQT, Free Cash Flow, Free Cash Flow Attributable to EQT and Free Cash Flow Yield
Adjusted operating cash flow is defined as net cash provided by operating activities less changes in other assets and liabilities. Adjusted operating cash flow attributable to EQT is defined as adjusted operating cash flow less adjusted EBITDA attributable to noncontrolling interests excluding net interest expense attributable to noncontrolling interests. Free cash flow is defined as adjusted operating cash flow less accrual-based capital expenditures and capital contributions to equity method investments. Free cash flow attributable to EQT is defined as adjusted operating cash flow attributable to EQT less accrual-based capital expenditures and capital contributions to equity method investments excluding the proportionate share of accrual-based capital expenditures and capital contributions to equity method investments attributable to the third-party ownership interests in the Non-Wholly Owned Consolidated Subsidiaries. Free cash flow yield is defined as free cash flow divided by market capitalization.
The Company's management believes that these measures provide useful information to investors regarding the Company's liquidity, including the Company's ability to generate cash flow in excess of its capital requirements and return cash to shareholders.
The tables below reconcile adjusted operating cash flow, adjusted operating cash flow attributable to EQT, free cash flow and free cash flow attributable to EQT with net cash provided by operating activities, the most comparable financial measure calculated in accordance with GAAP, as derived from the Statements of Condensed Consolidated Cash Flows to be included in EQT Corporation's Quarterly Report on Form 10-Q for the quarter ended June 30, 2026.
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
(Thousands)
Net cash provided by operating activities
$ 1,048,012
$ 1,241,699
$ 4,103,059
$ 2,982,866
Decrease (increase) in changes in other assets and liabilities
100,617
(323,821)
(373,651)
(398,220)
Adjusted operating cash flow (a)
1,148,629
917,878
3,729,408
2,584,646
Deduct:
Capital expenditures
(666,258)
(553,559)
(1,274,094)
(1,051,003)
Capital contributions to equity method investments
(28,637)
(24,101)
(56,520)
(42,047)
Free cash flow (a)
$ 453,734
$ 340,218
$ 2,398,794
$ 1,491,596
(a)
Adjusted operating cash flow and free cash flow for the three and six months ended June 30, 2025 included the impact of $133.7 million of net expense related to a securities class action settlement.
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
(Thousands)
Net cash provided by operating activities
$ 1,048,012
$ 1,241,699
$ 4,103,059
$ 2,982,866
Decrease (increase) in changes in other assets and liabilities
100,617
(323,821)
(373,651)
(398,220)
Adjusted operating cash flow (a)
1,148,629
917,878
3,729,408
2,584,646
(Deduct) add:
Adjusted EBITDA attributable to noncontrolling interests (b)
(135,958)
(125,164)
(268,041)
(261,964)
Net interest expense and other attributable to noncontrolling interests
1,268
1,028
2,205
2,280
Adjusted operating cash flow attributable to EQT (a) (c)
1,013,939
793,742
3,463,572
2,324,962
(Deduct) add:
Capital expenditures
(666,258)
(553,559)
(1,274,094)
(1,051,003)
Capital contributions to equity method investments
(28,637)
(24,101)
(56,520)
(42,047)
Capital expenditures attributable to noncontrolling interests
9,410
9,907
23,937
20,089
Capital contributions to equity method investments attributable to noncontrolling interests
1,212
13,587
4,272
23,123
Free cash flow attributable to EQT (a) (c)
$ 329,666
$ 239,576
$ 2,161,167
$ 1,275,124
(a)
Adjusted operating cash flow, adjusted operating cash flow attributable to EQT and free cash flow attributable to EQT for the three and six months ended June 30, 2025 included the impact of $133.7 million of net expense related to a securities class action settlement.
(b)
A non-GAAP financial measure. See above for a reconciliation of this non-GAAP financial measure to the most comparable financial measure as calculated in accordance with GAAP.
(c)
Adjusted operating cash flow attributable to EQT and free cash flow attributable to EQT are calculated based on EQT Corporation's current 40% Class A Unitholder share of available cash flow distributions from the Midstream JV and 60% ownership interest in Eureka Holdings. The Company believes that using its distribution share from the Midstream JV in the calculation of these measures best reflect the economic impact of the Company's investment in the Midstream JV on adjusted operating cash flow, free cash flow and earnings trends.
In this news release, the Company has disclosed certain projections of free cash flow, including the average annual free cash flow expected to be generated by the Blackline assets during 2027 – 2031. The Company has not provided projected net cash provided by operating activities or reconciliations of projected free cash flow to projected net cash provided by operating activities, the most comparable financial measure calculated in accordance with GAAP. The Company is unable to project net cash provided by operating activities for any future period because this metric includes the impact of changes in operating assets and liabilities related to the timing of cash receipts and disbursements that may not relate to the period in which the operating activities occurred. The Company is unable to project these timing differences with any reasonable degree of accuracy without unreasonable efforts such as predicting the timing of its payments and its customers' payments, with accuracy to a specific day, months in advance. Furthermore, the Company does not provide guidance with respect to its average realized price, among other items, that impact reconciling items between net cash provided by operating activities and free cash flow. Natural gas prices are volatile and out of the Company's control, and the timing of transactions and the income tax effects of future transactions and other items are difficult to accurately predict. Therefore, the Company is unable to provide projected net cash provided by operating activities, or the related reconciliations of projected free cash flow to projected net cash provided by operating activities, without unreasonable effort.
Upstream Adjusted Operating Revenues
Upstream adjusted operating revenues (also referred to as total natural gas and liquids sales, including cash settled derivatives and previously referred to as Production adjusted operating revenues) is defined as total Upstream operating revenues, less the revenue impact of changes in the fair value of derivative instruments prior to settlement and Upstream other revenues. The Company's management believes that this measure provides useful information to investors regarding the Company's financial condition and results of operations because it helps facilitate comparisons of operating performance and earnings trends across periods. Upstream adjusted operating revenues reflects only the impact of settled derivative contracts; thus, the measure excludes the often-volatile revenue impact of changes in the fair value of derivative instruments prior to settlement. The measure also excludes Upstream other revenues because it is unrelated to the revenue from the Company's natural gas and liquids production.
The table below reconciles Upstream adjusted operating revenues with total Upstream operating revenues, the most comparable financial measure calculated in accordance with GAAP, as reported in the Statements of Condensed Consolidated Operations to be included in EQT Corporation's Quarterly Report on Form 10-Q for the quarter ended June 30, 2026.
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
(Thousands, unless otherwise noted)
Total Upstream operating revenues
$ 1,663,633
$ 2,420,542
$ 4,870,072
$ 3,989,825
(Deduct) add:
Upstream (gain) loss on derivatives
(44,640)
(719,964)
193,629
(41,045)
Net cash settlements received (paid) on derivatives
72,614
(101,364)
(231,048)
(193,350)
Upstream other revenues
(8,979)
(79)
(13,752)
(3,554)
Upstream adjusted operating revenues
$ 1,682,628
$ 1,599,135
$ 4,818,901
$ 3,751,876
Total sales volume (MMcfe)
634,474
568,227
1,252,173
1,138,978
Average sales price ($/Mcfe)
$ 2.54
$ 2.99
$ 4.03
$ 3.46
Average realized price ($/Mcfe)
$ 2.65
$ 2.81
$ 3.85
$ 3.29
Net Debt
Net debt is defined as total debt less cash and cash equivalents. Total debt includes the Company's current portion of debt, revolving credit facility borrowings and senior notes. The Company's management believes that net debt provides useful information to investors regarding the Company's financial condition and assists them in evaluating the Company's leverage since the Company could choose to use its cash and cash equivalents to retire debt.
The table below reconciles net debt with total debt, the most comparable financial measure calculated in accordance with GAAP, as derived from the Condensed Consolidated Balance Sheets to be included in EQT Corporation's Quarterly Report on Form 10-Q for the quarter ended June 30, 2026.
June 30, 2026
December 31, 2025
(Thousands)
Current portion of debt (a)
$ 114,959
$ 507,119
Revolving credit facility borrowings (b)
324,000
360,000
Senior notes
5,216,755
6,933,209
Total debt
5,655,714
7,800,328
Deduct: Cash and cash equivalents
(112,863)
(110,795)
Net debt
$ 5,542,851
$ 7,689,533
(a)
As of June 30, 2026, the current portion of debt included EQT Corporation's 7.75% debentures. As of December 31, 2025, the current portion of debt included EQT Corporation's 3.125% senior notes and 7.75% debentures.
(b)
As of June 30, 2026 and December 31, 2025, revolving credit facility borrowings included $272 million and $285 million, respectively, of borrowings outstanding under Eureka's revolving credit facility.
About EQT Corporation
EQT Corporation is a premier, vertically integrated American natural gas company with upstream and midstream operations focused in the Appalachian Basin. We are dedicated to responsibly developing our world-class asset base and being the operator of choice for our stakeholders. By leveraging a culture that prioritizes operational efficiency, technology and sustainability, we seek to continuously improve the way we produce environmentally responsible, reliable and low-cost energy. We have a longstanding commitment to the safety of our employees, contractors, and communities, and to the reduction of our overall environmental footprint. Our values are evident in the way we operate and in how we interact each day – trust, teamwork, heart, and evolution are at the center of all we do.
EQT management speaks to investors from time to time and the analyst presentation for these discussions, which is updated periodically, is available via EQT's investor relations website at https://ir.eqt.com.
Cautionary Statements Regarding Forward-Looking Statements
This news release contains, and certain statements made during the above referenced conference call will be, forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Statements that do not relate strictly to historical or current facts are forward-looking. Without limiting the generality of the foregoing, forward-looking statements contained in this news release or made during the above referenced conference call specifically include the expectations of plans, strategies, objectives and growth and anticipated financial and operational performance of EQT Corporation (EQT) and its consolidated subsidiaries (collectively, the Company), including guidance regarding the Company's strategy to develop its reserves; drilling plans and programs (including the number and type of drilling rigs and the number of frac crews to be utilized by the Company, the projected amount of wells to be turned-in-line and the timing thereof); projected natural gas prices, basis and average differential; the impact of commodity prices on the Company's business; total resource potential; projected production and sales volumes, including projected strategic curtailments and the timing, duration and volume thereof; projected capital expenditures and per unit operating costs; the amount and timing of distributions to and from the Company's joint venture arrangements; the projected timing of development of MVP Southgate; the Company's ability to successfully implement and execute its operational and organizational initiatives, the timing thereof and the Company's ability to achieve the anticipated results of such initiatives; the Company's plans, objectives, expectations, goals and projections relating to the Company's LNG offtake and tolling agreements and growth projects, including statements relating to the anticipated in-service dates, volume, duration, cost, anticipated impacts to free cash flow and investment returns thereof; the Company's ability to achieve the intended operational, financial and strategic benefits from any proposed and recently completed strategic transactions, and the timing thereof, including the Company's acquisition of all of the operating subsidiaries of Blackline Midstream, LLC and related financial projections associated with such acquisition; the amount and timing of any redemptions, repayments or repurchases of EQT's common stock, the Company's outstanding debt securities or other debt instruments; the Company's ability to reduce its debt and the timing of such reductions, if any; projected free cash flow; liquidity and financing requirements, including funding sources and availability; the Company's hedging strategy and projected margin posting obligations; the Company's tax position and projected effective tax rate; and the expected impact of changes in laws.
The forward-looking statements included in this news release or made during the above referenced conference call involve risks and uncertainties that could cause actual results to differ materially from projected results. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The Company has based these forward-looking statements on current expectations and assumptions about future events, taking into account all information currently known by the Company. While the Company considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks and uncertainties, many of which are difficult to predict and beyond the Company's control. These risks and uncertainties include, but are not limited to, volatility of commodity prices; the costs and results of drilling and operations; uncertainties about estimates of reserves, identification of drilling locations and the ability to add proved reserves in the future; the assumptions underlying production forecasts; the quality of technical data; the Company's ability to appropriately allocate capital and other resources among its strategic opportunities; access to and cost of capital; the Company's hedging and other financial contracts; inherent hazards and risks normally incidental to drilling for, producing, transporting, storing and processing natural gas, natural gas liquids (NGLs) and oil; operational risks and hazards incidental to the gathering, transmission and storage of natural gas as well as unforeseen interruptions; cyber security risks and acts of sabotage; availability and cost of drilling rigs, completion services, equipment, supplies, personnel, oilfield services and pipe, sand and water required to execute the Company's exploration and development plans, including as a result of inflationary pressures or tariffs; risks associated with operating primarily in the Appalachian Basin; the ability to obtain environmental and other permits and the timing thereof; construction, business, economic, competitive, regulatory, judicial, environmental, political and legal uncertainties related to the development and construction by the Company or its joint ventures of pipeline and storage facilities and transmission assets and the optimization of such assets; the Company's ability to renew or replace expiring gathering, transmission or storage contracts at favorable rates, on a long-term basis or at all; risks relating to the Company's joint venture arrangements; government regulation or action, including regulations pertaining to methane and other greenhouse gas emissions; negative public perception of the fossil fuels industry; increased consumer demand for alternatives to natural gas; environmental and weather risks, including the possible impacts of climate change; and disruptions to the Company's business due to recently completed or pending divestitures, acquisitions and other significant strategic transactions. These and other risks and uncertainties are described under the "Risk Factors" section and elsewhere in EQT's Annual Report on Form 10-K for the year ended December 31, 2025 and other documents EQT subsequently files from time to time with the Securities and Exchange Commission. In addition, the Company may be subject to currently unforeseen risks that may have a materially adverse impact on it.
Any forward-looking statement speaks only as of the date on which such statement is made, and, except as required by law, EQT does not intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise.
EQT CORPORATION AND SUBSIDIARIES
STATEMENTS OF CONDENSED CONSOLIDATED OPERATIONS (UNAUDITED)
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
(Thousands, except per share amounts)
Operating revenues:
Sales of natural gas, natural gas liquids and oil
$ 1,610,014
$ 1,700,499
$ 5,049,949
$ 3,945,226
Gain (loss) on derivatives
44,640
719,964
(193,629)
41,045
Pipeline and other
155,286
137,256
332,356
311,298
Total operating revenues
1,809,940
2,557,719
5,188,676
4,297,569
Operating expenses:
Transportation and processing
385,017
389,116
785,356
767,325
Production
100,316
91,518
215,494
179,956
Operating and maintenance
60,220
53,983
115,088
101,280
Selling, general and administrative
106,438
81,586
202,189
173,050
Depreciation, depletion and amortization
689,592
623,471
1,344,384
1,244,246
Loss on sale/exchange of long-lived assets
3,577
2,990
3,552
3,221
Impairment and expiration of leases
6,232
3,254
10,055
5,915
Other operating expenses
64,510
177,763
82,560
192,288
Total operating expenses
1,415,902
1,423,681
2,758,678
2,667,281
Operating income
394,038
1,134,038
2,429,998
1,630,288
Income from investments
(44,732)
(67,174)
(122,241)
(93,636)
Other income
(3,404)
(2,616)
(3,522)
(3,239)
Loss on debt extinguishment
341
5,889
29,869
17,569
Interest expense, net
75,452
105,668
172,229
223,237
Income before income taxes
366,381
1,092,271
2,353,663
1,486,357
Income tax expense
84,933
235,615
518,285
314,283
Net income
281,448
856,656
1,835,378
1,172,074
Less: Net income attributable to noncontrolling interests
70,023
72,509
136,724
145,788
Net income attributable to EQT Corporation
$ 211,425
$ 784,147
$ 1,698,654
$ 1,026,286
Income per share of common stock attributable to EQT Corporation:
Basic:
Weighted average common stock outstanding
625,962
599,221
625,549
598,574
Net income attributable to EQT Corporation
$ 0.34
$ 1.31
$ 2.72
$ 1.71
Diluted:
Weighted average common stock outstanding
629,049
602,924
629,070
602,896
Net income attributable to EQT Corporation
$ 0.34
$ 1.30
$ 2.70
$ 1.70
EQT CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
June 30, 2026
December 31, 2025
(Thousands)
ASSETS
Current assets:
Cash and cash equivalents
$ 112,863
$ 110,795
Accounts receivable (less allowance for credit losses: $3,844 and $3,088)
835,140
1,457,959
Derivative instruments, at fair value
138,943
202,390
Prepaid expenses and other
90,881
124,007
Total current assets
1,177,827
1,895,151
Property, plant and equipment
49,741,567
48,472,497
Less: Accumulated depreciation and depletion
16,188,972
14,914,689
Net property, plant and equipment
33,552,595
33,557,808
Investments in unconsolidated entities
3,946,497
3,630,577
Net intangible assets
193,100
200,486
Goodwill
2,062,462
2,062,462
Other assets
388,359
446,390
Total assets
$ 41,320,840
$ 41,792,874
LIABILITIES AND EQUITY
Current liabilities:
Current portion of debt
$ 114,959
$ 507,119
Accounts payable
1,166,963
1,367,431
Derivative instruments, at fair value
50,106
137,299
Accrued interest
103,785
137,505
Other current liabilities
314,466
335,487
Total current liabilities
1,750,279
2,484,841
Revolving credit facility borrowings
324,000
360,000
Senior notes
5,216,755
6,933,209
Deferred income taxes
3,963,965
3,472,010
Asset retirement obligations and other liabilities
1,202,444
1,182,666
Total liabilities
12,457,443
14,432,726
Equity:
Common stock, no par value,
shares authorized: 1,280,000, shares issued: 625,513 and 624,076
19,529,362
19,517,761
Retained earnings
5,731,287
4,237,089
Accumulated other comprehensive loss
(1,773)
(2,173)
Total common shareholders' equity
25,258,876
23,752,677
Noncontrolling interests in consolidated subsidiaries
3,604,521
3,607,471
Total equity
28,863,397
27,360,148
Total liabilities and equity
$ 41,320,840
$ 41,792,874
EQT CORPORATION AND SUBSIDIARIES
STATEMENTS OF CONDENSED CONSOLIDATED CASH FLOWS (UNAUDITED)
Six Months Ended
June 30,
2026
2025
(Thousands)
Cash flows from operating activities:
Net income
$ 1,835,378
$ 1,172,074
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income tax expense
491,617
304,878
Depreciation, depletion and amortization
1,344,384
1,244,246
Loss on sale/exchange of long-lived assets
3,552
3,221
Impairment and expiration of leases
10,055
5,915
Income from investments
(122,241)
(93,636)
Loss on debt extinguishment
29,869
17,569
Share-based compensation expense
42,381
28,535
Distributions from equity method investments
121,323
132,881
Other
10,509
3,358
Loss (gain) on derivatives
193,629
(41,045)
Net cash settlements paid on derivatives
(231,048)
(193,350)
Changes in other assets and liabilities:
Accounts receivable
629,685
295,699
Accounts payable
(209,653)
10,253
Income tax receivable and payable
25,320
97,378
Other current assets
8,611
(1,459)
Other items, net
(80,312)
(3,651)
Net cash provided by operating activities
4,103,059
2,982,866
Cash flows from investing activities:
Capital expenditures
(1,248,676)
(1,049,289)
Cash paid for acquisitions
—
(100,167)
Net cash received (paid) for sale/exchange of assets
91
(6,284)
Cash paid for acquisitions of additional interests in equity method investments
(216,209)
—
Capital contributions to equity method investments
(56,520)
(42,047)
Other investing activities
(2,221)
(245)
Net cash used in investing activities
(1,523,535)
(1,198,032)
Cash flows from financing activities:
Proceeds from revolving credit facility borrowings
2,461,000
2,234,000
Repayment of revolving credit facility borrowings
(2,497,000)
(2,422,800)
Debt issuance costs
—
(7,238)
Repayment and retirement of debt
(2,122,944)
(813,017)
Net premiums paid on debt extinguishment
(22,631)
(24,802)
Dividends paid
(206,278)
(188,372)
Contribution from noncontrolling interests
98,357
—
Distributions to noncontrolling interests
(238,031)
(151,954)
Cash paid for taxes to net settle share-based incentive awards
(46,135)
(53,253)
Other financing activities
(3,794)
(3,999)
Net cash used in financing activities
(2,577,456)
(1,431,435)
Net change in cash and cash equivalents
2,068
353,399
Cash and cash equivalents at beginning of period
110,795
202,093
Cash and cash equivalents at end of period
$ 112,863
$ 555,492
EQT CORPORATION AND SUBSIDIARIES
PRICE RECONCILIATION
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
(Thousands, unless otherwise noted)
NATURAL GAS
Sales volume (MMcf)
596,984
534,441
1,178,311
1,070,779
NYMEX price ($/MMBtu)
$ 2.89
$ 3.43
$ 3.91
$ 3.54
Btu uplift
0.16
0.20
0.21
0.19
Natural gas price ($/Mcf)
$ 3.05
$ 3.63
$ 4.12
$ 3.73
Basis ($/Mcf) (a)
$ (0.67)
$ (0.75)
$ (0.15)
$ (0.38)
Cash settled basis swaps ($/Mcf)
—
—
(0.16)
(0.04)
Average differential, including cash settled basis swaps ($/Mcf)
(0.67)
(0.75)
(0.31)
(0.42)
Average adjusted price ($/Mcf)
2.38
2.88
3.81
3.31
Cash settled derivatives ($/Mcf)
0.13
(0.19)
(0.03)
(0.13)
Average natural gas price, including cash settled derivatives ($/Mcf)
$ 2.51
$ 2.69
$ 3.78
$ 3.18
Natural gas sales, including cash settled derivatives
$ 1,499,693
$ 1,438,682
$ 4,448,390
$ 3,400,873
LIQUIDS
NGLs, excluding ethane:
Sales volume (MMcfe) (b)
20,751
22,475
41,309
43,347
Sales volume (Mbbl)
3,459
3,745
6,885
7,224
NGLs price ($/Bbl)
$ 39.29
$ 35.86
$ 38.77
$ 40.02
Cash settled derivatives ($/Bbl)
(0.80)
(0.22)
(0.11)
(0.70)
Average NGLs price, including cash settled derivatives ($/Bbl)
$ 38.49
$ 35.64
$ 38.66
$ 39.32
NGLs sales, including cash settled derivatives
$ 133,121
$ 133,488
$ 266,153
$ 284,023
Ethane:
Sales volume (MMcfe) (b)
13,934
9,432
26,638
20,602
Sales volume (Mbbl)
2,322
1,573
4,439
3,434
Ethane price ($/Bbl)
$ 7.33
$ 6.85
$ 9.71
$ 8.69
Ethane sales
$ 17,021
$ 10,775
$ 43,089
$ 29,829
Oil:
Sales volume (MMcfe) (b)
2,805
1,879
5,915
4,250
Sales volume (Mbbl)
468
313
986
708
Oil price ($/Bbl)
$ 70.14
$ 51.70
$ 62.15
$ 52.45
Oil sales
$ 32,793
$ 16,190
$ 61,269
$ 37,151
Total liquids sales volume (MMcfe) (b)
37,490
33,786
73,862
68,199
Total liquids sales volume (Mbbl)
6,249
5,631
12,310
11,366
Total liquids sales
$ 182,935
$ 160,453
$ 370,511
$ 351,003
TOTAL
Total natural gas and liquids sales, including cash settled derivatives (c)
$ 1,682,628
$ 1,599,135
$ 4,818,901
$ 3,751,876
Total sales volume (MMcfe)
634,474
568,227
1,252,173
1,138,978
Average realized price ($/Mcfe)
$ 2.65
$ 2.81
$ 3.85
$ 3.29
(a)
Basis represents the difference between the ultimate sales price for natural gas, including the effects of delivered price benefit or deficit associated with the Company's firm transportation agreements, and the NYMEX natural gas price.
(b)
NGLs, ethane and oil were converted to Mcfe at a rate of six Mcfe per barrel.
(c)
Also referred to herein as Upstream adjusted operating revenues, a non-GAAP supplemental financial measure.
The Grayscale firm applied for the listing of the Worldcoin ETF, which will be traded using the ticker GWLD, just after the coin hit its lowest value ever. This new trust will give American investors a chance to invest in the Worldcoin ETF during times when there is pressure for its unlock. The firm of Grayscale Investments has filed a Form S-1 registration statement with the United States Securities and Exchange Commission (SEC) to introduce another cryptocurrency exchange-traded fund to its family of funds. The proposed fund aims at getting listed on the Nasdaq exchange under the ticker GWLD and would give investors regulated access to the Worldcoin ETF. Grayscale formed this Delaware statutory trust on July 10.
The filing comes at a time when Worldcoin (WLD) is trading at its all-time low price level as opposed to times when the market has momentum. The token fell to its all-time low of $0.2279 on May 17, 2026, way below all the previously recorded high prices. After the announcement of the ETF application, the coin surged by more than 8%, along with a substantial increase in trade volume. Considering that U.S. citizens are not eligible for Worldcoin user grants, the ETF would allow American citizens to invest in WLD through the regulated product.
ETF Filing Highlights Tokenomics Issues The filing of Grayscale also highlights many structural issues that the investor should keep in mind before regulatory authorities approve the product. According to the filing, the top 100 wallet addresses hold about 90% of the circulating supply of Worldcoin tokens. Additionally, there will be continuous unlocking of tokens by insiders and developers. Thereby increasing the supply until 2028, which will continue to put selling pressure on the token.
The Worldcoin tokenized ecosystem also has some unique regulatory implications due to its use of biometrics through Orbs’ eye-scanning devices. Previously, there have been several administrative sanctions from different international jurisdictions relating to data collection and regulatory oversight.
Despite the delay in going public on the stock exchange, which will now not happen until late 2026, Grayscale has been continuously adding to its list of cryptocurrency investment products. It seems like Grayscale is trying to establish itself within the nascent ETF market before other institutions start demanding them. Though the SEC approval is still uncertain, the filing shows that Grayscale is planning to expand its regulated crypto investments.
Highlighted Crypto News:
Coinbase and Base Prepare 1:1 Tokenized Stock Launch to Challenge Robinhood
I specialize in Web3 and crypto writing, producing clear, research-driven content on blockchain, cryptocurrencies, and market trends.
The registration statement, filed with the SEC on July 20, would create an exchange-traded product holding the WLD token.
Grayscale filed an S-1 registration statement with the U.S. Securities and Exchange Commission on July 20, 2026, to launch a spot Worldcoin ETF, according to the filing's EDGAR record.
The filer entity, Grayscale Worldcoin ETF, is registered under file number 333-297570 and accession number 0001193125-26-308957. The filing fee exhibit lists the offering as "Exchange-Traded Vehicle Securities" under the name "Grayscale Worldcoin ETF Shares."
The product would hold WLD, the token of the Worldcoin project, which operates the World Network identity system built around iris-scanning "orb" devices. WLD traded, up 4,5% over the 24 hours to a circulating market capitalization of about $1.35 billion. Over the same window Bitcoin was up 2.6%.
The S-1 is an early step in the ETF approval process and does not guarantee the fund will begin trading. The registration statement must become effective and the listing exchange must clear its own rule-change process before shares can be offered.
The Worldcoin filing extends Grayscale's push to register single-asset ETFs tied to altcoins. The firm, headquartered at 290 Harbor Drive in Stamford, Connecticut, has previously filed for products covering Solana and Zcash, among others.
Grayscale has not published a fee, ticker, or listing venue for the Worldcoin product in the initial S-1 fee table, which shows a $0.00 registration fee at this stage.
Sam Altman is heading to Washington next week to brief the Trump administration and US lawmakers on OpenAI’s upcoming AI models.
For crypto markets, the connection is less direct but still worth watching. Altman’s involvement with Worldcoin and its WLD token means that every major OpenAI development tends to send ripples through AI-adjacent crypto assets, whether the briefing mentions digital currencies or not.
What Altman is bringing to the table The briefing will cover OpenAI’s next generation of AI models and their safety implications. Altman is expected to meet with White House officials and congressional leaders to discuss frameworks for how the government and private sector can collaborate on AI oversight.
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Following Trump’s executive order on artificial intelligence issued in June 2026, Altman met with White House officials and congressional leaders including House Speaker Mike Johnson and House Minority Leader Hakeem Jeffries. That meeting happened on June 3, just one day after the executive order dropped.
Those earlier conversations led to concrete outcomes. The Trump administration urged OpenAI to stagger the release of its GPT-5.6 model family, limiting initial access to roughly 20 trusted partners for security and safety evaluations. In a July 9, 2026 interview, Altman confirmed that OpenAI made “many changes” to its models based on discussions with top officials, including Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent.
The regulatory landscape is shifting fast Trump’s AI executive order emphasized the need for oversight and safety protocols around advanced AI systems. Altman publicly supported aspects of the order, framing it through the lens of US leadership in AI development rather than as burdensome regulation.
What this means for investors The most immediate market implication is for AI-linked crypto assets. While no cryptocurrency tokens were directly referenced in any of the AI safety discussions between Altman and the administration, the indirect connection through Worldcoin’s WLD token makes this relevant territory for crypto traders.
WLD has historically functioned as a proxy for sentiment around OpenAI and Altman’s broader technology ambitions. When OpenAI announces major developments or faces regulatory scrutiny, WLD tends to move in sympathy.
The staged release model that emerged from earlier discussions, where roughly 20 trusted partners get access before the general public, also creates a new dynamic for institutional investors. Companies that land on that trusted partner list gain an informational edge, and any publicly traded or token-linked entities in that group could see outsized market reactions.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Sam Altman is a tech genius, no one seriously disputes that. ChatGPT and his other creations have proven it to the entire world. Yet, with Worldcoin and its crypto WLD, his intelligence seems to have hit an insurmountable wall. Grayscale’s helping hand could serve as an unexpected springboard. The bet is bold, but the path remains strewn with obstacles.
In Brief Grayscale filed a Worldcoin spot ETF (GWLD) on Nasdaq on July 20, causing a 4.5% jump in WLD. The token remains 97% below its peak of $11.74 reached in March 2024, a dizzying drop. Grayscale itself lists the risks: 7 countries have banned the project, 90% of tokens are concentrated in 100 wallets. Technical analysis shows a bullish signal, but the rebound remains fragile facing massive token unlocks. Grayscale’s SEC Filing Sends WLD Up 4.5 % — But the Token Is Still Down 97 % On July 20, 2026, Grayscale, author of an ETF linked to Hyperliquid, dropped a bomb on the SEC’s desk. The ETF issuer submitted a Form S-1 to launch a Worldcoin spot fund (WLD) on Nasdaq, under the ticker GWLD. BitGo will handle asset custody, BNY Mellon will administer the fund. The trust will be passive, with no leverage or derivatives.
The news propelled the token by 4.5% to $0.37. Yet, WLD remains 97% below its peak from March 2024, which topped $11.74.
Grayscale knows the way though. It converted its Bitcoin Trust into a spot ETF in January 2024, after a legal battle with the SEC. Solana and Dogecoin ETFs followed.
But WLD is neither Bitcoin nor Solana. It’s a controversial crypto, banned in seven countries, in free fall for two years.
The ETF Issuer’s Filing Reads Like a Warning Label for Worldcoin Investors Grayscale’s S-1 filing reads like an inadvertent indictment against Worldcoin. Seven countries took action against the project between 2024 and 2025: Spain, Portugal, Germany, Hong Kong, Brazil, Kenya, and Indonesia. The reason? Collecting biometric data via the Orbs, these devices that scan users’ iris.
Grayscale also mentions the centralization of World Chain, whose unique sequencer makes the network vulnerable. And then there is the token concentration: the 100 largest wallets hold 90% of the circulating supply. The paradox is striking.
The ETF issuer, seeking to convince investors, simultaneously lists reasons not to invest. Is it transparency or a disguised warning?
Bloomberg analysts, like James Seyffart, confirmed the filing on X. But the file remains incomplete: management fees are not disclosed, trading partners are unnamed.
WLD Breaks Out of Falling Channel : Technical Bounce or Real Reversal ? Technical analysis of WLD shows an interesting signal following Grayscale’s filing. The crypto jumped 4.5% to $0.37, breaking out of a descending channel on the 4-hour chart. This technical move was anticipated by some traders.
Before the announcement, a “falling wedge” had formed, a classic bullish signal where selling pressure gradually weakens. Immediate resistance is now at $0.3796, followed by $0.3876 and $0.3957.
Below, key support lies at $0.3681, then $0.3534. The RSI at 49.59 remains close to neutral, leaving room for growth. The MACD shows a timid bullish crossover, with a positive histogram of 0.0016.
The macro context did not play a major role: the overall crypto market only rose 1% over the same period. WLD’s rise is therefore specific to the ETF announcement.
But with 97% losses since the ATH, this rebound remains modest.
Will the SEC Approve Grayscale’s Worldcoin ETF ? Here’s What’s at Stake Uncertainty remains the only certainty in this complex case. The S-1 filing is just a first step among many. The SEC must approve the prospectus and Nasdaq must authorize the listing. Amendments will be necessary before any final approval.
Grayscale already won against the SEC in 2023 for its Bitcoin Trust, but WLD’s case is far more complex. The token itself could be deemed a “financial security” by regulators, which would force the trust to shut down.
Grayscale praises easy access to WLD for traditional investors. But it admits the token is vulnerable, concentrated, and contested. A risky bet disguised as an institutional product. The question remains: will the ETF save WLD or sink it further?
Key figures of the Grayscale bet: WLD price at the time of writing: $0.3838; All-time high: $11.74 in March 2024; Drop since ATH: 97%; Circulating supply: 3.5 billion out of 10 billion. Happy days for Worldcoin holders seem far, very far away. We still remember the 140% price explosion driven by the hype around AI. But that memory fades before a dizzying 97% drop.
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Mikaia A.
La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
July 21, 2026 16:15 ET | Source: DENTSPLY SIRONA Inc.
CHARLOTTE, N.C., July 21, 2026 (GLOBE NEWSWIRE) -- DENTSPLY SIRONA Inc. (“Dentsply Sirona” or the "Company") (Nasdaq: XRAY) today announced that the Company will host an investor conference call and live webcast on Thursday, August 6, 2026, at 4:30 p.m. ET to review its second quarter 2026 financial results. Financial earnings materials will be made available on the Investors section of the Company’s website at https://investor.dentsplysirona.com prior to the call.
Conference Call / Webcast Information
The live webcast link and call information will be available on the Investors section of the Company’s website at https://investor.dentsplysirona.com. For those planning to participate on the call, please register here. A webcast replay of the conference call will be available on the Investors section of the Company’s website following the call.
About Dentsply Sirona
Dentsply Sirona is the world’s largest diversified manufacturer of professional dental products and technologies, with over a century of innovation and service to the dental industry and patients worldwide. Dentsply Sirona develops, manufactures, and markets a comprehensive solutions offering including dental and oral health products as well as other consumable medical devices under a strong portfolio of world-class brands. Dentsply Sirona’s innovative products provide high-quality, effective and connected solutions to advance patient care and deliver better and safer dental care. Dentsply Sirona is headquartered in Charlotte, North Carolina. The Company’s shares are listed in the United States on Nasdaq under the symbol XRAY. Visit www.dentsplysirona.com for more information about Dentsply Sirona and its products.
Key Takeaways Berkshire Hathaway held $397.38B in cash and Treasury bills as of March 31, 2026.Insurance float and steady operating earnings help expand Berkshire Hathaway's investable funds.Berkshire Hathaway uses liquidity for acquisitions, equities, buybacks and subsidiary funding. Berkshire Hathaway (BRK.B - Free Report) held a massive cash reserve of approximately $397.38 billion as of March 31, 2026, consisting of $58.12 billion in cash and cash equivalents and $339.26 billion in short-term U.S. Treasury bills. Rather than representing idle capital, this liquidity provides strategic optionality, enabling Berkshire to remain resilient, flexible and prepared to act decisively when compelling opportunities arise.
The conglomerate has built this reserve through decades of disciplined capital allocation. Its insurance operations generate substantial “float”—premiums collected before claims are paid—that serves as a relatively low-cost source of capital. Growth in the insurance business continues to expand this pool of investable funds. Meanwhile, steady earnings from wholly owned businesses, including BNSF Railway, Berkshire Hathaway Energy, and its manufacturing and consumer subsidiaries, generate consistent cash flows. Proceeds from selective equity sales and management’s willingness to remain patient when valuations appear elevated have further strengthened Berkshire’s liquidity.
Berkshire uses this cash to maintain a substantial buffer against insurance obligations, pursue acquisitions when high-quality businesses become attractively valued, invest in public equities during market dislocations, repurchase its shares when they trade below intrinsic value and fund the capital requirements of its operating subsidiaries without depending heavily on external financing.
This exceptional financial flexibility represents a durable competitive advantage, strengthening Berkshire’s resilience and enhancing its ability to create value across market cycles.
What About BRK.B’s Competitors?Chubb Limited (CB - Free Report) and The Travelers Companies (TRV - Free Report) are two other notable companies in the insurance space.
Chubb Limited’s disciplined approach to capital deployment emphasizes strong underwriting, prudent reserve practices and selective acquisitions to broaden its global presence and enhance specialty capabilities. Chubb also prioritizes long-term value creation through consistent shareholder returns via dividends and buybacks, while investing in technology and risk management to drive sustainable growth.
The Travelers Companies deploys capital prudently by focusing on disciplined underwriting, accurate risk assessment, and data-informed pricing, ensuring stable profitability and financial resilience. Travelers drives long-term value through continued investments in technology and analytics, while consistently returning excess capital to shareholders via dividends and share buybacks.
BRK.B’s Price PerformanceShares of BRK.B have lost 2.5% year to date, underperforming the industry.
Image Source: Zacks Investment Research
BRK.B’s Expensive ValuationBRK.B trades at a price-to-book value ratio of 1.45, in line with the industry average. It has a Value Score of C.
Image Source: Zacks Investment Research
Estimate Movement for BRK.BThe Zacks Consensus Estimate for BRK.B’s second-quarter 2026 EPS has moved 5 cents north in the past 30 days, while that for the third quarter has witnessed no movement in the same time frame. The Zacks Consensus Estimate for 2026 and 2027 EPS has moved 5 cents and 4 cents north, respectively, in the past 30 days.
Berkshire Hathaway (BRKA 0.36%) (BRKB 0.33%) is not as technology-shy as it once was. Over the past few decades, the holding company, led by Warren Buffett until his retirement in 2025, has increased its exposure to tech stocks.
Currently, this includes not just its large position in Apple (AAPL +0.33%), but also a burgeoning position in Alphabet (GOOG 1.46%) (GOOGL 1.39%), parent company of Google and YouTube. Many would also classify both of these "Magnificent Seven" stocks as artificial intelligence plays.
However, some will debate whether these represent "pure-play" AI stocks in the same sense that names like Nvidia or Palantir do. But Berkshire Hathaway has AI exposure in other ways, namely, through one of its wholly owned operating subsidiaries.
Berkshire bought this company many years ago and, for a while, considered it an unsuccessful acquisition. Yet thanks to the data center proliferation, Berkshire Hathaway's 2016 purchase of Precision Castparts for $37.2 billion is starting to look like a winning move.
Image source: The Motley Fool.
From one specialty market to another Based in Portland, Oregon, Precision Castparts makes specialty metal components for the aerospace and industrial sectors. This aerospace exposure may have been why Buffett and Berkshire saw the company as a buy in 2016, but during the height of the COVID-19 pandemic in 2021, even Berkshire Hathaway admitted that it was an ill-fated deal.
Today's Change
(
-0.36
%) $
-2,674.01
Current Price
$
733,526.00
That year, Buffett's holding company wrote down nearly $10 billion in goodwill related to the Precision Castparts purchase, citing the subsidiary's diminished value due to the pandemic's impact on air travel and, hence, demand for aerospace.
Now, however, the situation has improved dramatically. Beyond a rebound in aerospace demand, chalk up Precision Castparts' improved performance to another factor: the AI data center boom. As hyperscalers turn to gas-powered turbines to power data centers, and as these turbines use similar components to those in jet engine turbines, Precision Castparts, one of just a few companies in this niche industry, is cashing in big-time.
After generating just $900 million in annual operating cash flow during the pandemic-era slowdown of 2021, last year, Precision reported $2.4 billion in operating cash flow. For reference, the company's annual operating cash flow was around $1.7 billion just prior to its acquisition by Berkshire.
The takeaway for Berkshire and its AI exposure Make no mistake: Precision's indirect AI exposure by no means turns Berkshire Hathaway into a "pure-play" AI stock. The trillion-dollar conglomerate's interests in sectors like insurance dwarf its exposure to the technology sector, let alone to the AI megatrend.
Still, this opportunity didn't emerge from Berkshire chasing trends. Berkshire bought Precision Castparts, sensing that the company had a deep economic moat. Recent developments validate this thesis. Precision's edge in turbine components opened the door to the data center opportunity.
This takeaway can be applied to Berkshire. By purchasing high-quality assets and investments at fair prices and holding them for the long term, Berkshire is well positioned to benefit from emerging economic trends.
Only time will tell whether Greg Abel, Warren Buffett's successor, increases Berkshire's AI exposure. Yet if it continues to prioritize long-term quality over trends, similar situations to those at Precision Castparts could emerge.
KeyCorp made gains across its priority growth businesses of investment banking, commercial payments and wealth management in the second quarter, Chairman, CEO and President Chris Gorman said Tuesday (July 14).
The bank’s investment banking pipelines grew 9% over the previous quarter, its commercial payments business delivered double-digit fee growth over the past year, and its assets under management reached a record high of $74 billion, Gorman said in an earnings release.
Collectively, the priority fee-based businesses of wealth, investment banking and commercial payments grew 8% in the first half compared to the same period in 2025, according to a presentation released Tuesday.
“While the macroeconomic environment remains uncertain, our momentum continues to be strong,” Gorman said during a Tuesday earnings call. “We are seeing healthy client engagement, solid activity levels across our businesses, and remain well-positioned to perform through a range of potential economic scenarios.”
KeyCorp provides banking services to individuals and businesses in 15 states under the name KeyBank National Association, and it provides corporate and investment banking products to middle-market companies in selected industries across the United States under the name KeyBanc Capital Markets.
The company announced in April that it plans to expand its ability to provide financial advisory services to institutional clients by entering the Western European market via its acquisition of United Kingdom-based middle market investment banking advisory firm Clearwater UK. Subject to regulatory approvals and customary closing conditions, the transaction is expected to close in the second half, KeyCorp said in an April22 press release.
Highlighting the planned acquisition during Tuesday’s call, Gorman said: “This transaction represents a strategic extension of our leading middle-market advisory franchise and expands our ability to serve M&A [mergers and acquisitions] clients and prospects internationally.”
To expand its middle market commercial banking capabilities in regions of the U.S., KeyCorp announced in a May press release that it added experienced local talent in Southeast Michigan. The company announced in a March press release that it launched a five-person middle market commercial banking team in Atlanta after introducing similar teams in Chicago, Southern California, and Overland Park, Kansas.
Gorman said during Tuesday’s earning call: “We have done, I think, a really good job of expanding our core middle market business in new cities that we haven’t been in in the past.”
KeyCorp Chief Financial Officer Clark Khayat said during the call that the company expects to see its average commercial loans increase 8% to 10% this year.
“The higher outlook reflects strong loan growth through the first half of the year, continued success in adding and expanding client relationships, and healthy commercial loan pipelines that continue to support growth in the second half of 2026,” Khayat said.
BOK Financial Corporation (BOKF) Q2 2026 Earnings Call July 21, 2026 1:00 PM EDT
Company Participants
Heather Worley - Senior VP & Director of Investor Relations
Stacy Kymes - CEO, President & Director
Scott Grauer - Executive Vice President of Wealth Management
Martin Grunst - Executive VP & CFO
Conference Call Participants
David Chiaverini - Jefferies LLC, Research Division
Peter Winter - D.A. Davidson & Co., Research Division
Jon Arfstrom - RBC Capital Markets, Research Division
Matt Olney - Stephens Inc., Research Division
Michael Rose - Raymond James & Associates, Inc., Research Division
Wood Lay - Keefe, Bruyette, & Woods, Inc., Research Division
Jared David Shaw - Barclays Bank PLC, Research Division
Brett Rabatin
Presentation
Operator
Greetings. Welcome to BOK Financial Corporation's Second Quarter 2026 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.
I would now like to turn the presentation over to Heather King, Director of Investor Relations for BOK Financial Corporation. Please proceed.
Heather Worley
Senior VP & Director of Investor Relations
Good afternoon, and thank you for joining our discussion of BOK Financial's Second Quarter 2026 Financial Results. Our CEO, Stacy Kymes, will provide opening comments, cover the loan portfolio and related credit metrics. Scott Grauer, Executive Vice President of Wealth Management, will cover our fee-based results; and our CFO, Marty Grunst, will then discuss financial performance for the quarter as well as our forward guidance.
Slide presentation and press release are available on our website at bokf.com. We refer you to the disclaimers on Slide 2 regarding any forward-looking statements made during this call.
I will now turn the call over to Stacy Kymes, who will begin on Slide 4.
Stacy Kymes
CEO, President & Director
Thank you, Heather. We appreciate you joining the call this afternoon. We are pleased to report earnings of $176.5 million or EPS of $2.92 per diluted share for
Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Dana Incorporated (NYSE: DAN) announced today that its board of directors has declared a dividend on its common stock.
The board declared a quarterly dividend of $0.12 per share, payable August 28, 2026, to holders of Dana common stock as of August 7.
About Dana Incorporated
Dana Incorporated (NYSE: DAN) is a global leader in the design and manufacture of highly efficient propulsion solutions for the light- and commercial‑vehicle markets. Guided by its vision to be the world's best powertrain company, Dana delivers advanced conventional and clean‑energy technologies that help customers improve the performance, efficiency, and durability of their vehicles. The company supplies leading vehicle manufacturers and related aftermarkets with industry‑defining drive systems, electrodynamic technologies, and thermal and sealing solutions.
Headquartered in Maumee, Ohio, USA, Dana reported sales of $7.5 billion in 2025. With a history dating to 1904, the company employs 27,000 people in 24 countries across six continents. Learn more at dana.com.
Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- TransMedics Group, Inc. ("TransMedics") (Nasdaq: TMDX), a medical technology company that is transforming organ transplant therapy for patients with end-stage lung, heart and liver failure, today announced that it will release financial results for the second quarter 2026 after market close on Tuesday, August 4, 2026. The TransMedics management team will host a corresponding conference call beginning at 4:30 p.m. ET / 1:30 p.m. PT.
Investors interested in listening to the conference call may do so by dialing (800) 715-9871 for domestic callers or (646) 307-1963 for international callers and providing access code 6054544. A live and archived webcast of the event will be available on the "Investors" section of the TransMedics website at https://investors.transmedics.com/.
About TransMedics Group, Inc.
TransMedics is the world's leader in portable extracorporeal warm perfusion and assessment of donor organs for transplantation. Headquartered in Andover, Massachusetts, the company was founded to address the unmet need for more and better organs for transplantation and has developed technologies to preserve organ quality, assess organ viability prior to transplant, and potentially increase the utilization of donor organs for the treatment of end-stage heart, lung, and liver failure.
, /PRNewswire/ -- National shareholder rights firm Hagens Berman is investigating claims in a securities class action alleging violations of U.S. securities laws by Hub Group, Inc. (NASDAQ: HUBG). The suit contends the company and its senior executives provided false and misleading information to investors regarding the integrity of its financial reporting, revenue recognition practices, and the effectiveness of its internal controls.
REPORT YOUR HUBG LOSSES TO HBSS NOW
Class Period: Apr. 28, 2023 – May 11, 2026
Lead Plaintiff Deadline: Aug. 28, 2026
Visit: www.hbsslaw.com/investor-fraud/hubg
Contact the Firm Now: [email protected]
844-916-0895
Hub Group, Inc. (HUBG) Securities Class Action:
The suit alleges that Hub Group's repeated disclosures throughout 2026 have revealed a pattern of severe accounting irregularities. The complaint claims the company intentionally or recklessly misled investors during the Class Period (April 28, 2023 – May 11, 2026) by:
Understating Costs: Failing to accurately report purchased transportation costs and accounts payable, leading to a $77 million accounting error in 2025 alone. Improper Revenue Recognition: Prematurely or incorrectly recognizing transactions, which rendered the company's 2023 and 2024 annual reports materially misstated. Internal Control Deficiencies: Maintaining inadequate disclosure controls and internal control over financial reporting, despite repeated public assurances of their effectiveness. The Truth Emerges
The complaint alleges that the market's perception of Hub Group's stability was dismantled by two major corrective disclosures:
February 2026: The company revealed that financial statements for the first three quarters of 2025 were unreliable, causing an immediate 18% decline in share price. May 2026: Hub Group announced that its 2023 and 2024 annual reports were also materially misstated, compounding the decline with an additional 13% drop in share price. These revelations wiped out over $890 million in market capitalization, prompting the departure of the company's Chief Financial Officer and Chief Operating Officer in May 2026.
"Now that Hub Group has almost cleaned out its C-suite following accounting improprieties reaching all the way back to 2023, the core focus of our investigation is whether they were intentional or reckless with the goal of making financial metrics appear better than they actually were. We're also looking to see whether additional problems will surface when the company's review is completed," said Reed Kathrein, the Hagens Berman partner leading the firm's investigation.
Investor Rights and Lead Plaintiff Deadline
Investors who purchased or acquired Hub Group common stock between April 28, 2023, and May 11, 2026, may be eligible to serve as lead plaintiff. The court-imposed deadline to move for appointment as lead plaintiff is August 28, 2026.
Submit your losses now Contact Our Attorneys: [email protected] HBSS Investor Hotline: 844-916-0895 If you'd like more information and answers to other frequently asked questions about the Hub Group case and the firm's investigation, read more »
Whistleblowers: Persons with non-public information regarding Hub Group should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Attorney Advertising. Prior results do not guarantee a similar outcome in any future case.
Vicor Corporation (VICR) Q2 2026 Earnings Call July 21, 2026 8:00 AM EDT
Company Participants
James Schmidt - Corporate VP, CFO, Treasurer, Corporate Secretary & Director
Philip Davies - Corporate VP of Global Sales & Marketing and Director
Patrizio Vinciarelli - Founder, Chairman, CEO & President
Conference Call Participants
Quinn Bolton - Needham & Company, LLC, Research Division
Richard Shannon - Craig-Hallum Capital Group LLC, Research Division
Justin Clare - ROTH Capital Partners, LLC, Research Division
John Dillon
Neil Gore
Donald McKenna
Joe DeBabny
Presentation
Operator
Ladies and gentlemen, thank you for standing by. Welcome to the Second Quarter 2026 Vicor Corporation Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.
I would like now to turn the conference over to Jim Schmidt, Chief Financial Officer. Please go ahead.
James Schmidt
Corporate VP, CFO, Treasurer, Corporate Secretary & Director
Thank you. Good morning, and welcome to Vicor Corporation's earnings call for the second quarter ended June 30, 2026. I'm Jim Schmidt, Chief Financial Officer, and I'm in Andover with Patrizio Vinciarelli, Chief Executive Officer; and Phil Davies, Corporate Vice President, Global Sales and Marketing.
Earlier this morning, we issued a press release summarizing our financial results for the 3 and 6 months ended June 30, 2026. This press release has been posted on the Investor Relations page of our website, www.vicorpower.com. We also filed a Form 8-K today related to the issuance of this press release. I remind listeners this conference call is being recorded and is the copyrighted property of Vicor Corporation.
I also remind you various remarks we make during this call may constitute forward-looking statements for the purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Except for historical information contained in this call, the matters discussed on this call, including any statements regarding current
ATLANTA, July 21, 2026 (GLOBE NEWSWIRE) -- First Advantage Corporation (NASDAQ: FA), a global software and data company, today announced it has been included on TIME’s list of America’s Best Companies 2026, ranking #1 in Background Screening and Identity Verification. This award is presented in collaboration with Statista, a world-leading statistics portal and industry ranking provider.
TIME and Statista identified America’s Best Companies 2026 based on three primary dimensions:
Employee Satisfaction – Based on survey data from ~217,000 verified employees at U.S. companies over the past three years, covering company recommendations and employer ratings across image, atmosphere, working conditions, salary, workplace, and equality.Financial Performance – Drawn from Statista's revenue database (last five years). Companies needed at least US $100 million in revenue in 2025. Performance was assessed on multiple metrics: short-term (2023–2025) and long-term (2021–2025) revenue growth (relative and absolute), changes in net income, asset growth, and the evolution of return on assets (ROA), all for 2023–2025.Sustainability Transparency – Based on an ESG index from Statista's ESG Database and additional research, covering: Environmental: 2024 carbon emissions intensity, reduction rate vs. 2022, and CDP scoreSocial: share of women on the board and existence of a human rights policyGovernance: presence of a GRI-aligned CSR report and a compliance/anti-corruption policy The 1000 highest-scoring companies were recognized as America’s Best Companies 2026.
In addition to being ranked #1 in Background Screening and Identity Verification, First Advantage placed in the top 25 nationwide in the Professional Services category and in the top three Professional Services companies ranked by financial performance.
"Being recognized by TIME as one of America's Best Companies and the #1 company in Background Screening and Identity Verification is a tremendous honor. This recognition reflects the dedication of our team members who live our values every day and remain focused on helping organizations build Trust in a Changing World™. At First Advantage, we believe that when companies truly know their people, they can make more confident decisions, create safer workplaces, and unlock greater opportunities for growth," said Scott Staples, Chief Executive Officer.
About First Advantage
First Advantage (NASDAQ: FA) is a global software and data company. We provide comprehensive, end-to-end identity solutions, criminal background screening, credential verifications, drug and health screening, and continuous risk monitoring. Combining AI-powered proprietary technology platforms with proprietary data, primary source data, and third-party data, we help organizations hire with confidence and manage risk across the entire employee lifecycle. With over 80,000 customers worldwide – including approximately two-thirds of the Fortune 100 – we deliver fast, comprehensive, and reliable solutions for employers, their candidates, and their employees. We conduct more than 200 million screens annually across over 200 countries and territories, supported by our verticalized go-to-market strategy, decades of experience, and proprietary databases containing over 1 billion records. For more information, please visit our website at https://fadv.com/.
Media Contact
Katelyn Brower
Director, PR, Social, Events [email protected]
Bitcoin has reclaimed several important technical levels, and improving momentum suggests the cryptocurrency could be setting up for another advance if key resistance is cleared. (Dreamstime)
Bitcoin resilience above $65,000 is attracting renewed investor attention, not only for its own prospects but also as a gauge of risk appetite across financial markets. After reclaiming several key technical levels, the cryptocurrency has begun to establish a modest uptrend, reflecting improved investor sentiment.
LITTLE ROCK, Ark., July 21, 2026 (GLOBE NEWSWIRE) -- Bank OZK (the “Bank”) (Nasdaq: OZK) today announced that net income available to common stockholders for the second quarter of 2026 was $163.3 million, a decrease of 8.7% from $178.9 million for the second quarter of 2025, but an increase of 2.5% from $159.3 million for the first quarter of 2026. For the first six months of 2026, net income available to common stockholders was $322.6 million, a 7.0% decrease from $346.8 million for the first six months of 2025. Diluted earnings per common share (“EPS”) for the second quarter of 2026 were $1.49, a decrease of 5.7% from $1.58 for the second quarter of 2025, but an increase of 3.5% from $1.44 for the first quarter of 2026. EPS for the first six months of 2026 were $2.93, a 3.9% decrease from $3.05 for the first six months of 2025.
George Gleason, Chairman and Chief Executive Officer, stated, “We are pleased to report our solid financial results for the quarter including EPS of $1.49, a 1.60% return on assets, a 4.24% net interest margin, a 39.2% efficiency ratio, strong increases in our book value and tangible book value per common share, and meaningful increases in our capital ratios. We continued to make significant progress with the strategic diversification of our loan portfolio. Our solid financial performance and steady progress on numerous strategic initiatives have us well-positioned for the future.”
MANAGEMENT COMMENTS, FINANCIAL SUPPLEMENT AND CONFERENCE CALL
In connection with this release, the Bank released its management comments on its quarterly results and a financial supplement, which are available at the Bank's investor relations website.
Management will conduct a conference call to take questions at 7:30 a.m. CT (8:30 a.m. ET) on Wednesday, July 22, 2026. Interested parties may access the conference call live via webcast on the Bank’s investor relations website, or may participate via telephone by registering using this online form. Upon registration, all telephone participants will receive the dial-in number along with a unique PIN number that can be used to access the call. A replay of the conference call webcast will be archived on the Bank’s website for at least 30 days.
GENERAL INFORMATION
Bank OZK (Nasdaq: OZK) is a regional bank providing innovative financial solutions delivered by expert bankers with a relentless pursuit of excellence. Established in 1903, Bank OZK conducts banking operations in 267 offices in nine states including Arkansas, Georgia, Florida, Texas, North Carolina, Tennessee, New York, California and Mississippi and had $41.7 billion in total assets as of June 30, 2026. For more information, visit ozk.com.
The Bank files annual, quarterly and current reports, proxy materials, and other information required by the Securities Exchange Act of 1934 with the Federal Deposit Insurance Corporation (“FDIC”), copies of which are available electronically at the FDIC’s website and are also available on the Bank’s investor relations website at ir.ozk.com. Use this online form to receive automated email notifications for these materials.
FORWARD-LOOKING STATEMENTS
This press release and other communications by the Bank and its management may include certain statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as “anticipates,” “targets,” “expects,” “hopes,” “estimates,” “intends,” “plans,” “goals,” “believes,” " feels," “continue” and other similar expressions or future or conditional verbs such as “will,” “may,” “might,” “should,” “would” and “could.” Forward-looking statements represent the Bank’s current expectations, plans or forecasts of its future results, revenues, liquidity, net interest income, provision for credit losses, expenses, efficiency ratio, capital measures, strategy, deposits, assets, and future business and economic conditions more generally, and other future matters. These statements are not guarantees of future results or performance and involve certain known and unknown risks, uncertainties and assumptions that are difficult to predict and are often beyond the Bank’s control. Actual outcomes and results may differ materially from those expressed in, or implied by, any of these forward-looking statements.
Why: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of The Ensign Group, Inc. (NASDAQ: ENSG) resulting from allegations that Ensign may have issued materially misleading business information to the investing public.
So What: If you purchased Ensign securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
What to do next: To join the prospective class action, go to https://rosenlegal.com/cases/the-ensign-group-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.
What is this about: On June 8, 2026, Investing.com published an article entitled "Ensign Group stock tumbles after short seller report." The article stated that Ensign shares fell after "short seller Hunterbrook released a report alleging the nursing home operator's business model relies on inadequate patient care and gaming quality metrics." Further, the article stated that Hunterbrook "published findings from a five-month investigation claiming the company's profits depend on understaffing facilities while routing taxpayer dollars to executives and affiliates. The report alleges patients have suffered and died as a result."
On this news, Ensign Group's shares fell 8.15% on June 8, 2026.
Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. At the time Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com
UiPath's AI orchestration strategy, improving profitability and attractive valuation make it stand out over AppLovin despite both benefiting from AI adoption.
Key Takeaways Constellation Energy operates a 55-GW fleet spanning nuclear, gas, geothermal, hydro, wind and solar. CEG plans nearly 10 GW of new capacity and will restart the 835-MW Crane plant for Microsoft's AI demand. CEG plans $5.7B in 2026 and $4.7B in 2027 capex to upgrade plants and support earnings growth. Constellation Energy (CEG - Free Report) benefits from its diversified power generation fleets, which enable it to deliver reliable electricity under changing market conditions. Its balanced generation mix supports the clean energy transition and meets rising electricity demand.
Following its acquisition of Calpine, CEG operates a diversified 55-gigawatt (GW) generation fleet spanning nuclear, natural gas, oil, geothermal, hydro, wind and solar, enough to power approximately 27 million homes. It produces nearly 10% of the nation's clean electricity, plans nearly 10 GW of new capacity and will restart the 835-megawatt (MW) Crane plant, supporting Microsoft's AI-driven demand and long-term growth.
The company is also expanding its generation portfolio to capture growing power demand. CEG’s Calpine unit completed a 25-MW expansion at The Geysers geothermal facility, strengthening its clean energy generation portfolio. It completed the 105-MW Pastoria Solar Project and the 460-MW Pin Oak Creek Energy Center, increasing its renewable and natural gas generation capacity. The company has also submitted nearly 5,000 MW of new nuclear uprates, natural gas and battery storage projects into PJM's interconnection queue, positioning it to benefit from increasing data center electricity demand.
The company plans capital expenditures of $5.7 billion in 2026 and $4.7 billion in 2027 to upgrade plants, extend asset life and support long-term earnings growth. Overall, CEG's diversified generation fleet and expansion projects support long-term earnings growth by meeting rising clean electricity demand.
Utilities Benefit From Diverse Power Generation PortfolioAn integrated energy portfolio combining renewable energy, natural gas, nuclear and energy storage helps diversify revenues, improve reliability and reduce fuel-price risks. It also enables companies to meet growing electricity demand and support long-term earnings growth.
NRG Energy (NRG - Free Report) operates a diversified 25 GW generation portfolio of natural gas, coal and renewable assets. Its integrated fleet enhances operational flexibility and supports growing electricity demand.
Vistra Corp. (VST - Free Report) operates a diversified portfolio of nearly 44 GW of generation assets, including natural gas, coal, nuclear, solar and battery energy storage. Its balanced fleet provides operational flexibility and supports rising electricity demand.
The Zacks Rundown on CEGCEG’s Earnings EstimatesThe Zacks Consensus Estimate for 2026 and 2027 EPS indicates an increase of 25.03% and 16.02%, respectively, year over year.
Image Source: Zacks Investment Research
CEG’s Returns on Equity (ROE)Constellation Energy's trailing-12-month ROE is 16.81%, ahead of the industry average of 7.15%.
Image Source: Zacks Investment Research
CEG’s Stock Price PerformanceIn the past month, the company’s shares have plunged 6% compared with the industry’s 12.1% fall.
SAN JOSE, Calif., July 21, 2026 (GLOBE NEWSWIRE) -- In recognition of the utility’s commitment to supporting employees and fostering workplace engagement, Newsweek has named California Water Service Group (NYSE: CWT) one of only two water utilities in its 2026 list of “America’s Greatest Workplaces.” The ranking was developed by Newsweek in partnership with Plant-A Insights Group, a statistics portal and industry-ranking provider.
Working with Aniline, a leading third-party human resources analytics firm, Newsweek and Plant-A evaluated 10 categories of worker satisfaction among U.S. employees, such as company culture, compensation and benefits, career progression and training, and mental well-being. The assessment also considered more than 120 key performance indicators, such as leadership, integrity, compensation, and work-life balance, as well as more than 37 million data points. The study incorporated publicly available data and a large-scale, confidential online employee survey, analyzing more than 7.6 million reviews from over 575,000 employee interviews. In total, the study evaluated 70,000 U.S. companies with more than 1,000 employees across more than 90 industries and recognized the top 1,500 companies.
“At California Water Service Group, we take care of our employees so they can take care of our customers and communities, and we are proud of our ongoing track record of being recognized as a top workplace for employees,” said Marty Kropelnicki, Group Chairman & CEO. “We appreciate Newsweek recognizing our commitment to creating a workplace where employees feel supported, valued, and empowered to deliver quality, service, and value to the communities we serve.”
The full list is available at rankings.newsweek.com/americas-greatest-workplaces-2026.
About California Water Service Group
California Water Service Group is the largest regulated water utility in the western United States. It provides high-quality, reliable water and/or wastewater services to more than 2.2 million people in California, Hawaii, New Mexico, Washington, and Texas through its regulated subsidiaries, California Water Service, Hawaii Water Service, New Mexico Water Service, and Washington Water Service, and its utility holding company, TWSC Inc. (Texas Water Service). This year, the company commemorates a century of service.
Group’s purpose is to enhance the quality of life for customers, communities, employees, and stockholders. To do so, it invests responsibly in water and wastewater infrastructure, sustainability initiatives, and community well-being. The company’s nearly 1,300 employees live by a set of strong core values and share a commitment to protecting the planet, caring for people, and operating with the utmost integrity. The company has been named one of “America’s Most Responsible Companies” and the “World’s Most Trustworthy Companies” by Newsweek, a USA Top Workplace, and a Great Place to Work®. More information is available at www.calwatergroup.com.
SAN JOSE, Calif.--(BUSINESS WIRE)--Super Micro Computer, Inc. (NASDAQ: SMCI) (“Supermicro” or the “Company”), an AI, Enterprise, Storage, and 5G/Edge IT Total Solution Provider, featuring Data Center Building Block Solutions® (DCBBS), today is providing a preliminary business update for the fourth quarter of fiscal year 2026 (Q4'26), ended June 30, 2026, and schedules earnings call for August 11th at 5pm EDT. Revenues for the fourth quarter of fiscal year 2026 are estimated to be near the low e.
Insiders may stand to receive substantial financial benefits not available to ordinary shareholders.
The proposed transactions may contain terms that could limit superior competing offers.
Shareholders are encouraged to contact the firm to discuss their rights and options at no cost or obligation. We would handle any matter on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses.
, /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to:
Destination XL Group, Inc. (NASDAQ: DXLG)'s merger with FBB Holdings I, Inc. If you are a Destination XL shareholder, click here to learn more about your rights and options.
Standard BioTools Inc. (NASDAQ: LAB)'s merger with Treeline Biosciences, Inc. Upon closing of the proposed transaction, Standard BioTools shareholders are expected to own approximately 16% of the combined company. If you are a Standard BioTools shareholder, click here to learn more about your rights and options.
First Hawaiian, Inc. (NASDAQ: FHB)'s merger with TriCo Bancshares. Upon closing of the proposed transaction, First Hawaiian shareholders are expected to own approximately 65% of the combined company. If you are a First Hawaiian shareholder, click here to learn more about your legal rights and options.
Rallybio Corporation (NASDAQ: RLYB)'s merger with Candid Therapeutics, Inc. Upon completion of the proposed transaction, Rallybio shareholders are expected to own approximately 3.65% of the combined company. If you are a Rallybio shareholder, click here to learn more about your rights and options.
On behalf of shareholders, Halper Sadeh LLC may seek increased consideration, additional disclosures and information, or other relief and benefits.
Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Halper Sadeh LLC
Daniel Sadeh, Esq.
Zachary Halper, Esq.
One World Trade Center
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(212) 763-0060
[email protected]
[email protected]
https://www.halpersadeh.com
LOS ANGELES, July 21, 2026 (GLOBE NEWSWIRE) -- BlackLine, Inc. (Nasdaq: BL) announced today that it will release financial results for the first quarter ended June 30, 2026 after market close on Tuesday, August 4, 2026 followed by a conference call hosted by management at 2:00 p.m. PT / 5:00 p.m. ET. A live webcast and replay will be accessible on BlackLine’s investor relations website at https://investors.blackline.com/. To access the conference call by phone, please register here, and dial-in details will be provided. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time.
About BlackLine
BlackLine (Nasdaq: BL), is the trust infrastructure for the AI era of finance: a future where finance drives the agentic era with intelligence, integrity, and trust rising together. The BlackLine Agentic Financial Operations Platform™, powered by Studio360 and Verity™ AI, is where the Office of the CFO scales AI across Record-to-Report, Invoice-to-Cash, and the processes where finance owns the controls and demands integrity at every step.
By unifying data, embedding AI, and engineering trust into every action, BlackLine moves finance and accounting beyond reporting on the business to orchestrating it in real time.
Supported by industry-leading R&D investment and world-class security practices, approximately 4,300 customers across multiple industries partner with BlackLine to lead their organizations into the future.
Bina Mehta appointed to EXL’s board; Sarah K. Williamson to succeed Vikram Pandit as lead independent director by the end of 2026 July 21, 2026 16:01 ET | Source: EXL
NEW YORK, July 21, 2026 (GLOBE NEWSWIRE) -- EXL [NASDAQ: EXLS], a global data and AI company, announced that Bina Mehta, the former Chair of KPMG UK and a professional services leader with an extensive track record of advising global clients to deliver transformation and sustainable growth, has been appointed to EXL’s Board of Directors as an independent director effective July 16, 2026. Mehta will be a member of the board’s audit committee and compensation and talent management committee.
“We are thrilled to welcome Bina to the EXL board,” said Rohit Kapoor, chairman and chief executive officer. “She brings over three decades of experience spanning mergers and acquisitions (M&A), advisory and restructuring across four countries, and a deep understanding of what it takes to grow and lead a global business. Bina’s expertise in finance, governance, and building high-performing organizations internationally will be invaluable as we continue to scale our data and AI capabilities for our clients.”
“Throughout my career I have supported global businesses through fundamental transformation, not dissimilar to the journey EXL is undertaking,” said Mehta. “I am particularly drawn to EXL’s strong domain expertise in key industries such as insurance, healthcare, financial services that are at the leading edge of AI-driven transformation. I am excited to contribute to the board and management team as EXL continues its transformation with investments in technology and AI and as it helps its clients embrace the opportunities that data and AI present.”
As Chair of KPMG UK from 2021 to 2026, Mehta led the firm through a period of significant transformation and growth. She also chaired the KPMG Foundation from 2022 to 2026.
Mehta originally joined KPMG in 1990 and her experience there advising global clients on M&A, restructuring and transformation spans four countries – UK, India, the United States, and Canada.
Mehta is active in the technology sector, having led KPMG UK’s Emerging Giants practice focused on fast growth technology businesses and was appointed to the UK government’s AI Opportunity Forum in 2024 that drives adoption of AI across the private sector. She was honored with a Member of the Order of the British Empire (MBE) in 2022 for services in trade and investment and for supporting female entrepreneurs. She also serves on the board of the International Chambers of Commerce UK and is an Honorary Fellow in Entrepreneurship at the University of Cambridge’s Judge Business School and Visiting Professor at Bayes Business School. She is based in London.
EXL also announced a board leadership transition. Sarah K. Williamson will assume the role of lead independent director by the end of 2026, succeeding Vikram Pandit. Pandit has served as lead independent director since April 2024 and previously served as chairman of the board beginning in 2022. Pandit will remain on the board as an independent director.
“Sarah has demonstrated exceptional leadership since joining the board, and Vikram’s continued presence as a director will ensure a smooth and effective transition,” said Kapoor. “We are grateful for Vikram’s service as lead director and look forward to Sarah’s continued contributions in this new capacity.”
“It has been a privilege to serve as lead independent director during an important period in EXL’s growth,” said Vikram Pandit. “Sarah brings strong leadership and sound judgment to the role, and I look forward to supporting a smooth transition while continuing to serve on the board.”
“I am honored to step into the lead director role and want to thank Vikram for his service in this capacity,” said Sarah K. Williamson. “I look forward to working closely with Rohit and the management team as EXL continues to execute its growth strategy.”
Williamson has served as a member of the EXL board since June 2023. She is the chief executive officer of FCLTGlobal, a not-for-profit organization whose mission is to focus capital on the long term to support a sustainable and prosperous economy. Prior to FCLTGlobal, she spent over 20 years at Wellington Management, most recently as a Partner and Director of Alternative Investments. Earlier in her career, she was a senior engagement manager at McKinsey & Company, a special assistant at the U.S. Department of State, and a mergers and acquisitions banker at Goldman Sachs. She also serves as a director of Evercore (NYSE: EVR).
About EXL
EXL (NASDAQ: EXLS) is a global data and AI company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including the world’s leading corporations in industries including insurance, healthcare, banking and capital markets, retail, communications and media, and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have approximately 67,000 employees spanning six continents. For more information, visit www.exlservice.com.
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL’s operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management’s experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by applicable law.
Contacts:
Investor Relations
Andrew Thut
Head of Investor Relations and Capital Markets [email protected]
VitaDAO, the decentralized autonomous organization that funds longevity research, has launched VitaApp, a tool designed to collect and analyze users’ health data for biological age tracking. The app represents a tangible consumer-facing product from a DAO that has, until now, operated mostly in the funding-and-governance lane of decentralized science.
What VitaApp actually does At its core, VitaApp collects health data from users and runs it through analytical frameworks to estimate biological age. The app fits into a broader AI-driven strategy VitaDAO has been building out. The organization already has AubrAI, a live AI agent on the platform, and is developing the Biohacker Agent, which focuses on analyzing biomarkers tied to health and longevity.
GitHub repositories referencing a “VITA personal health agent sandbox” were updated as recently as April 16, 2026, indicating active development on the underlying infrastructure. VitaDAO emphasizes that health data is handled securely, a non-trivial concern when you’re asking people to hand over intimate biological information to a decentralized protocol.
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The numbers behind VitaDAO VitaDAO has deployed $4.7 million across 31 projects to date. The organization’s governance token, VITA, is an ERC-20 token with a hard cap of 64,298,880 tokens. Roughly 26 million of those are currently in circulation. VitaDAO has a projected fully diluted valuation target of $60 million.
The VITA token functions as the governance mechanism. Holders vote on which longevity research projects receive funding, creating a model where the crowd essentially acts as a distributed venture capital firm for anti-aging science.
DeSci meets consumer health tech VitaDAO’s website emphasizes using artificial intelligence to accelerate research idea generation, validation, and execution. AubrAI is already live, and the Biohacker Agent in development is designed to parse supplement and biomarker data for actionable longevity insights.
As of July 21, 2026, there appears to be little media coverage surrounding the VitaApp launch, suggesting it may be early-stage news lacking additional verifiable information beyond its initial unveiling.
What this means for investors There are real risks worth watching. Health data privacy is a regulatory minefield, and a decentralized protocol handling sensitive biological information will inevitably attract scrutiny from regulators who are already skeptical of crypto. The EU’s GDPR, various US state-level privacy laws, and emerging AI regulations all create potential friction points.
For VITA token holders, the path from current valuations to that $60 million FDV target depends heavily on VitaApp adoption. With 31 funded projects, a live AI agent in AubrAI, and now a consumer app, VitaDAO has a developing product suite in the DeSci longevity niche.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Home Bancorp NASDAQ: HBCP reported higher second-quarter earnings and record quarterly net interest income, while management said loan growth rebounded and the company remains focused on resolving problem credits.
Chairman and CEO John Bordelon said the company earned net income of $11.6 million, or $1.48 per diluted share, for the second quarter of 2026. Earnings per share increased 2% from the first quarter and were up from $1.46 per share in the year-ago quarter. Return on assets increased to 1.31%.
Bordelon also announced that Darren Guidry has been named president of Home Bancorp. Guidry has served as chief risk officer since 2022, and previously held the roles of chief credit officer and chief lending officer. Bordelon said separating the CEO and president roles is intended to support the company’s “next phase of growth,” with Bordelon focused on corporate strategy, capital planning and shareholder relations, while Guidry leads day-to-day execution of strategic priorities.
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Net Interest Income Reaches Record Level Net interest income totaled $35.8 million in the quarter, which Bordelon said was the highest quarterly net interest income in Home Bancorp’s 118-year history. Chief Financial Officer David Kirkley said net interest income rose $1.3 million from the first quarter and $2.5 million from a year earlier.
The net interest margin expanded 8 basis points from the first quarter to 4.24%. Kirkley said the increase was driven by loan yields rising 5 basis points to 6.46%, while the cost of interest-bearing liabilities remained flat at 2.38%. Bordelon said the margin expansion reflected higher yields on earning assets and stable funding costs.
Home Bancorp’s cost of deposits was stable at 1.66% for the quarter. Bordelon called that “one of the lowest in our peer group” and said it reflected the strength of the company’s core deposit franchise. Kirkley said the average cost of interest-bearing deposits declined to 2.28% in the second quarter, helped by deposit mix improvement and certificates of deposit repricing at lower rates. However, he said the company does not expect “further material declines” in deposit costs.
In response to a question from Raymond James’ Joe Yanchunis about the timing of fixed-rate asset repricing benefits, Kirkley said he expects “a couple basis points” of margin increase in the third quarter and “a little bit into Q4.” He said moderation is more likely after the fourth quarter and into the first quarter of 2027.
Loans and Deposits Grow in the Quarter Loans increased by $50.7 million in the second quarter, or about 7% annualized, rebounding from a slight contraction in the first quarter. Bordelon said the Houston market continued to lead growth, expanding at a 9% annualized rate year to date. He also said the Tomball branch in northwest Houston, opened in the first quarter, is gaining momentum.
Bordelon said the company believes its pipeline can support continued mid-single-digit loan growth in the second half of the year, though he noted that predicting when customers will make financing decisions has become challenging. During the question-and-answer session, he clarified that the mid-single-digit growth outlook applies to the back half of the year.
Total deposits grew by $42.1 million, or 6% annualized, during the quarter. Kirkley said total deposits increased to $3.1 billion, with core deposit growth of $46.6 million more than offsetting a modest decline in certificates of deposit. Non-interest-bearing demand deposits increased $5.1 million and represented 27% of total deposits.
Bordelon said the loan-to-deposit ratio remained in the middle of the company’s 90% to 92% target range. In response to Hovde Group’s Feddie Strickland, Bordelon said maintaining certificates of deposit is important to supporting growth, noting that the company lost about $60 million of CDs after reducing rates in the first quarter and has not moved rates since then.
Credit Quality Shows Mixed Trends Management said credit quality remains an area of focus. Kirkley said non-performing loans declined to $26.4 million, or 0.95% of total loans, from $35.8 million, or 1.31% of total loans, in the prior quarter. The decline was primarily due to the transfer of about $10 million of non-performing loans into other real estate owned, or OREO.
Total non-performing assets were $39.2 million, or 1.09% of total assets, as foreclosed asset balances increased due to the foreclosure of multiple properties. Kirkley said the largest foreclosed property was $2.6 million.
Total criticized loans rose to $95.8 million, or 3.45% of total loans, primarily due to six relationships migrating into special mention status and a $7.4 million increase in substandard loans. Substandard loans increased largely because of the downgrade of a $12.4 million commercial and industrial credit, partially offset by the transfer of almost $10 million from substandard to OREO and paydowns.
Bordelon said the company does not see “specific industry-related stress,” but added that more individual customers are struggling in the current economy. He said net charge-offs remained “extremely low” at 6 basis points annualized and said the company expects conservative underwriting and active management to limit losses.
Guidry provided additional detail in response to Brean Capital’s Christopher Marinac, saying the special assets group has a significant number of resolutions in place. He said management expects more than $30 million of improvement in special assets between now and year-end, including resolutions in special mention loans, substandard credits and non-performing assets through payoffs, upgrades and OREO sales.
Expenses, Capital and Shareholder Returns Non-interest income totaled $3.9 million in the second quarter, up $181,000 from the first quarter. Kirkley said management continues to expect quarterly non-interest income in the range of $3.8 million to $4.1 million.
Non-interest expense totaled $24.6 million, up $1.6 million from the first quarter. Kirkley said the increase was primarily driven by $1.3 million of compensation and benefits expense and a $331,000 increase in foreclosed asset expense. Given elevated expenses related to foreclosed assets, management expects non-interest expense to remain in a range of $24 million to $24.8 million over the next several quarters.
Tangible book value per share increased to $47.02, up from $46.04 in the first quarter and more than 13% from a year ago. Kirkley said capital ratios remained strong, with a Tier 1 leverage ratio of 12.1% and a total risk-based capital ratio of 15.6%. The company declared a quarterly cash dividend of $0.32 per share, an increase of $0.01 from the prior quarter.
Asked by Piper Sandler’s Stephen Scouten about capital uses if merger-and-acquisition opportunities remain limited, Bordelon said the company still expects M&A to be the primary use of excess capital and is “looking for that right partner.” Kirkley said the company has been selective with share repurchases after the stock’s recent run, and also noted that subordinated debt with a 5.75% coupon becomes callable in 2027.
Management Discusses Competition and Hiring On competitive conditions, Bordelon said Texas is more competitive than Louisiana for both loans and deposits. He said some banks in the Texas market have offered deposit rates close to 4%, and in the first quarter a few were at 4.25%, making competition for deposits more challenging.
Guidry said the company is not planning major staffing changes following his appointment as president. He said Home Bancorp has a strong executive team and banking group, with little turnover, and is looking to add good bankers when available. Bordelon noted that the company recently added one relationship manager in the Baton Rouge market, which he described as its slowest-developing market.
About Home Bancorp (NASDAQ:HBCP)Home Bancorp, Inc is the bank holding company for The Home National Bank, a full-service financial institution headquartered in Lafayette, Louisiana. The company operates as a regional commercial bank serving individuals, small businesses and municipalities across Louisiana and East Texas. Through its network of branches and digital banking platforms, Home Bancorp offers a range of deposit and lending solutions designed to meet the needs of its local markets.
The company's core offerings include retail deposit products such as checking, savings and money market accounts, as well as a variety of commercial and consumer lending services.
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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PASADENA, Calif.--(BUSINESS WIRE)--East West Bancorp, Inc. (“East West” or the “Company”) (Nasdaq: EWBC), parent company of East West Bank, reported second quarter 2026 net income of $364 million, or $2.63 per diluted share. Total loans and deposits both reached new records as of June 30, 2026, at $59.0 billion and $70.1 billion, respectively. Return on average assets was 1.75%, return on average common equity was 16.0%, and book value per share grew 13% year-over-year. “East West delivered ano.
July 21, 2026 16:05 ET | Source: Valley National Bank
NEW YORK, July 21, 2026 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY) (“Valley”), the holding company for Valley National Bank, announced today its regular preferred and common dividends. The declared quarterly dividends to shareholders of record on September 15, 2026 are as follows:
A cash dividend of $0.501134 per share to be paid September 30, 2026 on Valley’s Non-Cumulative Perpetual Preferred Stock Series A;A cash dividend of $0.483756 per share to be paid September 30, 2026 on Valley’s Non-Cumulative Perpetual Preferred Stock Series B; A cash dividend of $0.515625 per share to be paid September 30, 2026 on Valley’s Non-Cumulative Perpetual Preferred Stock Series C; andA cash dividend of $0.11 per share will be paid October 1, 2026 on Valley’s common stock.
The common stock cash dividend amount per share was unchanged as compared to the previous quarter dividend. The common cash dividend should not be used as an indicator of future dividends to Valley’s common stockholders.
About Valley
As the principal subsidiary of Valley National Bancorp (NASDAQ: VLY), Valley National Bank is a regional financial institution with over $64 billion in assets. Founded in 1927, Valley has more than 220 branch locations and commercial offices nationwide and serves clients across New Jersey, New York, Florida, Alabama, California, Illinois, Pennsylvania and Arizona. Valley delivers a full range of consumer, commercial, and wealth management solutions designed to support everything from homeownership and business growth to long-term financial planning. Big enough to support complex financial needs and small enough to stay deeply connected, Valley is grounded in a relationship-led approach focused on understanding people first. That same relationship-led approach guides Valley’s commitment to community investment and responsible corporate citizenship. To learn more, visit www.valley.com or call the Valley Customer Care Center at 800-522-4100.
Forward Looking Statements
The foregoing contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management’s confidence and strategies and management’s expectations about Valley’s business, new and existing programs and products, acquisitions, relationships, opportunities, taxation, technology, market conditions and economic expectations. These statements may be identified by such forward-looking terminology as “intend,” “should,” “expect,” “believe,” “view,” “opportunity,” “allow,” “continues,” “reflects,” “typically,” “usually,” “anticipate,” “may,” “estimate,” “outlook,” “project,” or similar statements or variations of such terms. Such forward-looking statements involve certain risks and uncertainties. Valley’s actual results may differ materially from such forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, but are not limited to those risk factors disclosed in Valley’s Annual Report on Form 10-K for the year ended December 31, 2025.
Contact: Travis Lan Senior Executive Vice President and Chief Financial Officer (973) 686-5007
July 21, 2026 16:09 ET | Source: River Valley Community Bancorp
YUBA CITY, Calif., July 21, 2026 (GLOBE NEWSWIRE) -- River Valley Community Bancorp (OTC markets: RVCB) with its wholly owned subsidiary, River Valley Community Bank (collectively referred to as the “Bank”), today announced unaudited financial results for the quarter ended June 30, 2026. Concurrent with the financial results announcement, the Bank declared a $0.07 per common share dividend payable on August 18, 2026, to shareholders of record as of July 31, 2026. The financial results announcement can be found on the Bank’s Investor Relations website at Investor Relations | River Valley Community Bank.
The Bank remains highly rated with BauerFinancial, and Depositaccounts.com and serves its customer base through its offices located at:
1629 Colusa Avenue, Yuba City, CA580 Brunswick Rd, Grass Valley, CA905 Lincoln Way, Auburn, CA904 B Street, Marysville, CA401 Ryland Street, Ste. 300, Reno, NV (Loan Production Office)2901 Douglas Blvd., Ste. 140, Roseville, CA The Bank offers a full suite of competitive products, services, and banking technology. For more information please visit our website at www.myrvcb.com or contact John M. Jelavich at (530) 821-2469.
Grosse Pointe, Michigan, July 21, 2026 (GLOBE NEWSWIRE) -- Broad Arrow, driven by Hagerty (NYSE: HGTY), is proud to present a selection of exceptional RUF, Porsche, and Singer models at its inaugural edition of The Quail Auction, the official auction of The Quail by The Peninsula, A Motorsports Gathering.
Among these highly desirable collector cars are a number of extremely rare RUF models, including one of only six RUF SCR ‘Mary Stuart’ examples. These will be joined by truly unique Singer commissions, as well as supercar icons of Porsche history such as the famous 959 Komfort and a 2015 918 Spyder.
These incredible RUF, Porsche, and Singer models will be among nearly 200 collector cars offered for sale at Broad Arrow’s inaugural edition of The Quail Auction. Taking place on Thursday August 13 and Friday August 14, the auction will feature some of the market’s most sought-after pre- and post-war classics, motorsport icons, supercars and modern collectibles, promising exciting bidding, a superb atmosphere, and the opportunity for collectors to acquire automobiles that have truly made their mark on motoring history.
“This is a wildly rare group of cars set for our auction at The Quail”, says Alexander Weaver, VP and Senior Car Specialist for Broad Arrow Auctions. “The RUF SCR “Mary Stuart” carries an incredible origin story, and as one of just six entirely made-to-order cars, delivered to a very well-known RUF collector, this is the one to chase. The iconic Porsche 959 speaks for itself, and the 918 Spyder is a fantastic example of a forward-thinking collector who specified the car in a way that almost predicted where the market was going. On top of all that, having a trio of Porsche 911s Reimagined by Singer in three different model configurations presents collectors with some of the most exclusive, bespoke offerings from the sought-after brand. We look forward to building on our reputation for exceptional Porsches at The Quail Auction.”
Leading a superbly curated selection of RUF collector cars is one of its rarest and newest models, a 2024 RUF SCR ‘Mary Stuart’ (Estimate: $2,500,000 - $2,800,000) Offered for the first time ever at auction, this highly exclusive, made-to-order RUF is one of only six SCR versions to be built in ‘Mary Stuart’ specification. The fascinating name comes from the high wraparound rear spoiler that Porsche fitted to its works Carrera RSR models in 1973, reminiscent of the high ruff collar worn by Mary, Queen of Scots. Finished in stunning Paint-to-Sample Ultra Violet, this 4.0-liter flat-six powered supercar has been driven only 176 miles at the time of cataloging. Along with its revered powertrain, it features a covetable specification with RUF-branded lightweight bucket seats, lightweight door panels, a custom valved exhaust and ‘Mary Stuart’ script on the rear shelf.
It is joined in the auction by one of the pillars of the RUF catalog a 1990 RUF BTR III Cabriolet (Estimate: $800,000 - $950,000). This rare final evolution of the BTR III, or Gruppe B Turbo RUF, represents the end of an era in which RUF firmly established itself as a world-class manufacturer. Featuring only 45,625 kilometers, this example is finished in Iris Blue Metallic with a Dark Blue leather interior and combines open-top cabriolet motoring with the performance for which RUF has become synonymous. Another icon of RUF history is a 1994 Porsche 911 RUF RCT EVO Speedster (Estimate: $800,000 - $950,000), one of very few Type 964 Speedsters to have been converted to RUF specification. Following a comprehensive restoration by RUF in 2015, it was given the desirable RUF Carrera Turbo (RCT) Evo conversion in 2024, making it a truly desirable derivative.
Equally desirable is a 1995 RUF RCT EVO (Estimate: $950,000 - $1,100,000), finished in iconic Guards Red over a black leather/Alcantara interior with only 55,123 miles on the odometer. Last but by no means least, is a 2013 RUF Rt35 (Estimate: $600,000 - $700,000), one of only 35 created to commemorate 35 years of turbocharged heritage and the first RUF model to be built on the Porsche 991 platform. This example, finished in Carrera White, is even rarer still as only a handful of open-top versions were created making this a truly historically significant RUF model.
Since Rob Dickinson founded Singer Vehicle Design in 2009, the company has created some of the most desirable collector cars in the world. In 2022 it finally entered the world of turbocharging with the creation of Classic Turbo Services and the ‘Aurum Verde Commission’, finished in striking Nice Green Metallic over a Cognac leather interior with Pascha-style bespoke woven leather seat inserts, was one of its first. This incredible piece of Singer history was not only a press car featured in Top Gear and Evo magazines, but it also appeared at the Goodwood Festival of Speed and was tested at the notorious Nürburgring Nordschleife. It is presented having driven only 8,449 miles and benefits from a full factory refresh in 2025.
1990 Porsche 911 Coupe Reimagined by Singer ‘Los Angeles Commission’ (Estimate: $1,100,000 - $1,300,000)
This extremely desirable and entirely bespoke Classic Study has driven only 8,000 miles and is finished in stunning Paint-to-Sample Namib Yellow with ghosted racing stripes over a Bone White leather interior with Black leather contrast trim. Powered by an Ed Pink Racing-built 4.0-liter air-cooled flat-six, it benefits from Singer’s ‘Big’ Cams and Ceramic Plenum Inlet and features a six-speed manual transmission and a limited-slip differential. This glorious powertrain is complimented by Öhlins Sport two-way adjustable dampers, making the ‘Los Angeles Commission’ the perfect canyon car.
1990 Porsche 911 Targa Reimagined by Singer ‘Coconut Grove Commission’ (Estimate: $1,100,000 - $1,300,000)
Reimagined by Singer Classic Services created this unique ‘Coconut Grove Commission’ featuring Singer Racing White paintwork with a Ruby Targa top over a Dark Plum leather interior. As a Targa, it is among the rarest of Singer models and this example has been driven only 55 miles in the hands of its original owner, making it effectively as-new and a remarkable opportunity for any Singer or Porsche collector.
The Quail Auction will also feature some of the most iconic supercar models from Porsche history, including a rare 1988 Porsche 959 Komfort (Estimate: $2,650,000 - $2,950,000). Only 266 959 Komfort supercars were produced and this German-market example showing just 20,751 kilometers, is one of only 34 to be painted in Graphite Metallic. A full matching numbers example, it benefits from a comprehensive service, along with recommissioning and 959 suspension upgrade by Canepa in 2024 at a cost of over $240,000. It is supplied with its original three-piece toolkit, driver’s manual and Porsche-issued specification sheet and has previously been in the ownership of several prestigious collections. Another superb Porsche model offered for sale is a 1995 911 Turbo Cabriolet (Estimate: $700,000 - $900,000) from the renowned Todd Blue Collection. One of only 14 Exclusive Department 993-generation 911 Turbo Cabriolets produced, this Midnight Blue Metallic example is one of the rarest ever produced by Porsche and was unavailable in the U.S. when new, making it even rarer still.
For collectors of modern supercars, one of the most desirable is undoubtedly the Porsche 918 Spyder (Estimate: $3,250,000 - $3,750,000 | Offered Without Reserve) and Broad Arrow will feature a superb 2015 model finished in Paint to Sample Grey Black over a Leather to Sample white leather interior at The Quail Auction. One of only 300 U.S.-market 918 Spyders produced, it features the optional Front Axle Lift System, Carbon Fiber Interior Package and is fitted with Lightweight Weissach magnesium wheels. This full ‘to Sample’ specification version of one of the defining supercars of the 21st century is worthy of any serious collection.
Additional information on all lots in Broad Arrow’s inaugural edition of The Quail Auction can be found at broadarrowauctions.com. Collectors interested in registering to bid are invited to speak with a Broad Arrow car specialist via broadarrowauctions.com or by contacting [email protected] or +1 313-312-0780. The complete digital catalog will be available soon.
Editor’s Notes
Photo Captions/Credits:
2024 RUF SCR ‘Mary Stuart’ (Credit – Ryan Merrill/Courtesy of Broad Arrow Auctions)1990 RUF BTR III Cabriolet (Credit – Courtesy of Broad Arrow Auctions)1990 Porsche 911 Reimagined by Singer - Classic Turbo Services "Aurum Verde Commission" (Credit – Justin Pavlovsky/Courtesy of Broad Arrow Auctions)1988 Porsche 959 Komfort (Credit – Courtesy of Broad Arrow Auctions)2015 Porsche 918 Spyder (Credit – Robin Adams/Courtesy of Broad Arrow Auctions) About Broad Arrow Auctions
Broad Arrow Auctions, driven by Hagerty (NYSE: HGTY), is a leading global collector car auction house founded in 2021 by industry veterans. As the fastest-growing auction house in its segment, Broad Arrow connects exceptional collector cars with enthusiasts worldwide through flagship events including The Broad Arrow Quail Auction (the official auction of The Quail by The Peninsula, A Motorsports Gathering), The Amelia Auction (the official auction of The Amelia Concours), The Porsche Auction in collaboration with Air | Water by Luftgekühlt, the Las Vegas Auction in partnership with Concours at Wynn Las Vegas, as well as international auctions held in partnership with Concorso d’Eleganza Villa d’Este, Zoute Grand Prix, and Auto Zürich.
Learn more at broadarrowauctions.com and follow us on Instagram, Facebook, LinkedIn, and Twitter.
About Hagerty, Inc. (NYSE: HGTY)
Hagerty is a company built by drivers for drivers, protecting 2.8 million vehicles in the United States, Canada and the UK. We make it easier and more enjoyable for enthusiasts to drive and celebrate the machines they love through innovative insurance products, live and digital auctions, engaging media and events, as well as the Hagerty Drivers Club, the world’s largest community of car lovers.
For more information, please visit www.hagerty.com or www.newsroom.hagerty.com.
Forward-Looking Statements - This press release contains statements that constitute “forward-looking statements” within the meaning of the federal securities laws. All statements provided, other than statements of historical fact, are forward-looking statements, including those regarding Hagerty’s future operating results and financial position, Hagerty’s business strategy and plans, products, services, and technology implementations, market conditions, growth and trends, expansion plans and opportunities, and Hagerty’s objectives for future operations. The words “anticipate,” “believe,” “envision,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” “ongoing,” “contemplate,” and similar expressions, and the negative of these expressions, are intended to identify forward-looking statements.
Hagerty has based these forward-looking statements largely on current expectations about future events, which may not materialize. Actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. These factors include, among other things, Hagerty’s ability to: (i) compete effectively within our industry and attract and retain our insurance policyholders and paid Hagerty Drivers Club (“HDC”) subscribers; (ii) maintain key strategic relationships with our insurance distribution and underwriting carrier partners; (iii) prevent, monitor, and detect fraudulent activity; (iv) manage risks associated with disruptions, interruptions, outages or other issues with our technology platforms or our use of third-party services; (v) accelerate the adoption of our membership and marketplace products and services, as well as any new insurance programs and products we offer; (vi) manage the cyclical nature of the insurance business, including through any periods of recession, economic downturn or inflation; (vii) address unexpected increases in the frequency or severity of claims, and (viii) comply with the numerous laws and regulations applicable to our business, including state, federal and foreign laws relating to insurance and rate increases, privacy, the internet, and accounting matters.
The forward-looking statements herein represent the judgment of Hagerty as of the date of this release and Hagerty disclaims any intent or obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise. This press release should be read in conjunction with the information included in Hagerty’s other press releases, reports and other filings with the Securities and Exchange Commission. Understanding the information contained in these filings is important in order to fully understand Hagerty’s reported financial results and its business outlook for future periods.
The one-of-six 2024 RUF SCR "Mary Stuart" offered at Broad Arrow's upcoming The Quail Auction, August 13-14, 2026. PTS Grey Black 2015 Porsche 918 Spyder offered without reserve at Broad Arrow's The Quail Auction 2026 during Monterey Car Week
, /PRNewswire/ -- Rollins, Inc. (NYSE:ROL), a premier global consumer and commercial services company, announced that the Board of Directors declared a regular quarterly cash dividend on its common stock of $0.1825 per share payable September 10, 2026 to shareholders of record at the close of business on August 10, 2026.
About Rollins, Inc.
Rollins, Inc. (ROL) is a premier global consumer and commercial services company. Through its family of leading brands, the Company and its franchises provide essential pest control services and protection against termite damage, rodents, and insects to more than 2.8 million customers in North America, South America, Europe, Asia, Africa, and Australia, with approximately 22,000 employees from more than 850 locations. Rollins is parent to Aardwolf Pestkare, Clark Pest Control, Crane Pest Control, Critter Control, Fox Pest Control, HomeTeam Pest Defense, Industrial Fumigant Company, MissQuito, Northwest Exterminating, OPC Pest Services, Orkin, Orkin Australia, Orkin Canada, Orkin UK, Safeguard, Romex Pest Control, Saela Pest Control, Trutech, Waltham Services, Western Pest Services, and more. You can learn more about Rollins and its subsidiaries by visiting www.rollins.com.
For Further Information Contact
Lyndsey Burton
(404) 888-2348
Semiconductor stocks have skyrocketed this year, and Marvell Technologies (MRVL +6.85%) has been one of the biggest winners.
The fabless chipmaker, which designs custom ASIC chips and optical components, has benefited from the AI boom, strong results, and a prediction from Nvidia CEO Jensen Huang that it would become the "next trillion-dollar company."
According to data from S&P Global Market Intelligence, the stock jumped 251% over the first six months of the year. As you can see from the chart below, the stock didn't really start to gain until the second quarter, when the broader chip sector went parabolic in response to strong demand signals for AI components and a surge in investor sentiment. The jump in Marvell stock in early June was due to comments from Nvidia's Huang.
MRVL data by YCharts
What's behind Marvell's massive surge The chart above illustrates that Marvell's gains were more about overall investor sentiment and forward expectations, rather than quarterly numbers. Nonetheless, the company delivered solid results with revenue for Q4 2026, which ended on Jan. 31, up 22% to $2.22 billion, and adjusted earnings per share increasing from $0.60 to $0.80.
The company also offered strong guidance for the first quarter, indicating that revenue growth was expected to reaccelerate. Several Wall Street analysts upgraded the stock on the news.
Marvell followed that up with accelerating growth in the first quarter, as revenue rose 28% to $2.42 billion, and adjusted earnings per share improved from $0.62 to $0.80. The stock again climbed on the news as Wall Street responded enthusiastically.
Marvell's biggest gain of the year came days later when the stock jumped 33% on Jensen Huang's endorsement. The Nvidia chief called Marvell the next trillion-dollar company at the Computex trade show in Taiwan, noting Marvell's prowess in data infrastructure and the growth of optical communications.
Finally, the stock popped on news in mid-June that it would be added to the S&P 500, replacing Pool Corporation.
Image source: Getty Images.
What's next for Marvell The stock has pulled back in July, in line with a broader retreat in semiconductor stocks. After the first-half surge, the stock looks expensive by historical standards, trading at a price-to-sales ratio of 20.
However, Wall Street expects its growth rate to steadily accelerate over the next two years. The stock is likely to move with broader sentiment in the chip sector in the coming months, but if it can deliver on that growth forecast, the stock should be a winner over the longer term.
Jeremy Bowman has positions in Nvidia. The Motley Fool has positions in and recommends Marvell Technology, Nvidia, and Pool. The Motley Fool has a disclosure policy.
, /PRNewswire/ -- Aamir Paul, Chief Executive Officer of Regal Rexnord Corporation (NYSE: RRX), announced that the Board of Directors, at its regular quarterly meeting held on July 20, 2026, declared a dividend of $0.35 per share. The dividend is payable on October 14, 2026, to shareholders of record at the close of business on September 30, 2026. The Company has paid a dividend every quarter since January 1961.
About Regal Rexnord
Regal Rexnord's 30,000 associates around the world help create a better tomorrow by providing sustainable solutions that power, transmit and control motion. The Company's electric motors and air moving subsystems provide the power to create motion. A portfolio of highly engineered power transmission components and subsystems efficiently transmits motion to power industrial applications. The Company's automation offering, comprised of controllers, drives, precision motors, and actuators, controls motion in applications ranging from factory automation to precision tools used in surgical applications.
The Company's end markets benefit from meaningful secular demand tailwinds, and include discrete automation, food & beverage, aerospace & defense, medical, data center, energy, residential and commercial buildings, general industrial, and metals and mining.
Regal Rexnord is comprised of three operating segments: Industrial Powertrain Solutions, Power Efficiency Solutions, and Automation & Motion Control. Regal Rexnord is headquartered in Milwaukee, Wisconsin and has manufacturing, sales and service facilities worldwide. For more information, including a copy of our Sustainability Report, visit RegalRexnord.com.
Jill Foss Watson, an insider at Credit Acceptance Corporation (CACC +0.29%), sold 1,436 shares of common stock on July 16, 2026. SEC Form 4 filing.
Today's Change
(
0.29
%) $
1.78
Current Price
$
617.53
Transaction summaryMetricValueTransaction value~$920,000Shares sold (indirectly held)1,436Post-transaction shares (indirectly held)47,910Post-transaction value~$30.55 millionTransaction value based on SEC Form 4 weighted average sale price ($640.52); post-transaction value based on the July 16, 2026 market closing price ($637.55).
Key questionsHow was this transaction structured across the insider's holdings?
The disposition was entirely indirect, executed from shares held by the Jill Foss Watson Irrevocable Trust. Following this sale, the insider reports zero direct ownership of common stock in this filing while maintaining a significant indirect position.What is the valuation context of the remaining equity stake?
Following the sale, the insider retains 47,910 shares held indirectly, which represented a 0.46% ownership interest in the company as of the latest filing date. This remaining position was valued at ~$30.55 million based on the July 16, 2026 market close.What pricing levels were achieved during the execution?
The sales were conducted at a weighted average price of $640.52 per share. This execution occurred during a period of sustained performance, with the stock priced at $640.00 as of the July 17, 2026 market close, slightly above the transaction-date close of $637.55.Company OverviewMetricValueShare Price (as of market close 2026-07-17)$640.00Market Capitalization$6.7 billionRevenue (TTM)$2.3 billionNet Income (TTM)$453.4 millionCompany SnapshotCredit Acceptance Corporation provides consumer auto financing programs and related financial services, generating revenue through the origination and servicing of subprime automobile loans, as well as reinsurance coverage for vehicle service contracts.The company operates on a distinctive business model whereby it advances capital to automobile dealers in exchange for the right to service underlying consumer loans, subsequently purchasing loans from dealers and retaining collections from consumers.The company primarily serves subprime automobile buyers and independent automobile dealers across the United States, focusing on consumers with limited credit histories or credit profiles that are challenged.Credit Acceptance Corporation is a leading provider of financing solutions in the subprime automotive credit market, with a market capitalization of $6.7 billion and trailing twelve-month (TTM) revenues of $2.3 billion. The company's vertically integrated business model—combining loan origination, servicing, and collection functions—provides operational leverage and direct relationships with consumers. CACC's strategic focus on the underserved subprime segment, combined with its proprietary technology and dealer network, positions it as a significant participant in the alternative auto finance sector.
What this transaction means for investorsNo shareholder usually wants to see an insider selling shares, but Watson’s sale isn’t necessarily bearish. There are multiple reasons an insider may sell that have nothing to do with her outlook on the stock price, including having to pay a large personal expense and pursuing reasonable portfolio diversification.
Jill Foss Watson is one of three children of the deceased billionaire founder of Credit Acceptance Corp, Donald Foss. While she is an insider, it’s unclear how much influence or participation she has in the company’s day-to-day activities. That somewhat mitigates the warning signal of a sale, as does the fact that insider sales have been shown in studies to predict a share price decline in the next 30 days less than half the time.
It is also worth noting that Watson has a greater financial interest in the business than the 47,910 shares indirectly reported. She is a beneficiary of a remainder trust set up by her father for his three children. That trust owns almost 8% of the business.
Stepping back more broadly, the outlook for Credit Acceptance appears good, despite economic concerns about spending by medium- and lower-credit-quality consumers, who often use CACC for auto financing. While revenue is seen rising only slightly to $3.6 billion in 2026, net income is expected by analysts to rise 27% to $540 million, thanks to cost savings throughout the organization, including from technology advances.
That bodes well for Credit Acceptance Corp, and is an indication that shareholders shouldn’t be too worried about Watson’s selling.
Wintrust Financial Corporation (WTFC) Q2 2026 Earnings Call July 21, 2026 11:00 AM EDT
Company Participants
Timothy Crane - CEO, President & Director
David Dykstra - Vice Chairman & COO
Richard Murphy - Vice Chairman & Chief Lending Officer
Conference Call Participants
Jon Arfstrom - RBC Capital Markets, Research Division
Nathan Race - Piper Sandler & Co., Research Division
Jeff Rulis - D.A. Davidson & Co., Research Division
Jared David Shaw - Barclays Bank PLC, Research Division
Christopher McGratty - Keefe, Bruyette, & Woods, Inc., Research Division
Casey Haire
David Chiaverini - Jefferies LLC, Research Division
Timur Braziler - UBS Investment Bank, Research Division
Sun Young Lee - TD Cowen, Research Division
Benjamin Gerlinger - Citigroup Inc., Research Division
Brandon Rud - Stephens Inc., Research Division
Daniel Tamayo - Raymond James & Associates, Inc., Research Division
Presentation
Operator
Welcome to Wintrust Financial Corporation's Second Quarter and year-to-date 2026 Earnings Conference Call. A review of the results will be made by Tim Crane, President and Chief Executive Officer; David Dykstra, Vice Chairman and Chief Operating Officer; and Richard Murphy, Vice Chairman and Chief Lending Officer. As part of their reviews, the presenters may make reference to both the earnings press release and the earnings release presentation. Following their presentations, there will be a formal question-and-answer session.
During the course of today's call, Wintrust management may make statements that constitute projections, expectations, beliefs or similar forward-looking statements. Actual results could differ materially from the results anticipated or projected in any such forward-looking statements. The company's forward-looking assumptions that could cause the actual results to differ materially from the information discussed during this call are detailed in our earnings press release and in the company's most recent Form 10-K and any subsequent filings with the SEC. Also, our remarks may reference certain non-GAAP financial measures.
Our earnings press release and earnings release presentation include
NEW YORK, July 21, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against AeroVironment, Inc. (“AeroVironment” or the “Company”) (NASDAQ: AVAV) and certain officers. The class action, filed in the United States District Court for the Eastern District of Virginia, and docketed under 26-cv-01429, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired AeroVironment securities between June 25, 2025 and March 10, 2026, both dates inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.
If you are an investor who purchased or otherwise acquired AeroVironment securities during the Class Period, you have until July 27, 2026, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Danielle Peyton at [email protected] or 646-581-9980 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
[Click here for information about joining the class action]
AeroVironment operates as a defense technology provider delivering integrated capabilities across air, land, sea, space, and cyber.
On May 1, 2025, AeroVironment announced it had completed the acquisition of BlueHalo, LLC (“BlueHalo”), a defense technology firm specializing in advanced engineering products, in an all-stock transaction with an enterprise value of approximately $4.1 billion.
Three years earlier, BlueHalo had been awarded a $1.4 billion contract to deliver BADGER phased array antenna systems (a type of advanced ground-terminal system used to track satellites), to support the United States Space Force’s Satellite Communication Augmentation Resource (“SCAR”) program. The BADGER would be a bespoke product designed for the United States (“U.S.”) Space Force, according to its specifications. This contract value subsequently increased to $1.7 billion.
The SCAR program represents the U.S. Space Force’s efforts to modernize antennas used by the Satellite Control Network (“SCN”), which is comprised of 19 fixed antennas across the world and executes tasks such as tracking satellites, transmitting signals, and conducting telemetry, or accessing data from satellites to assess their status and health.
In an April 2023 report, the U.S. Government Accountability Office described the SCN as “aging and difficult to maintain.” The U.S. Space Force has described the purpose of the SCAR program as modernizing the aging SCN by introducing phased array antennas to the network that boast newer capabilities, such as the ability to communicate with more than one satellite simultaneously.
During the Class Period, Defendants consistently assured investors that the SCAR program would drive revenue growth for AeroVironment moving forward. Among other items, Defendants stated that the SCAR program represented a “tremendous growth opportunity,” that AeroVironment’s work pursuant to the contract was “very much on track,” that the customer was “asking for more [BADGER systems],” and that the Company stood “ready to build more.”
The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) AeroVironment understated the likelihood that it would imminently face competition from other vendors for the work it performed in connection with the SCAR program and the U.S. Space Force’s ongoing efforts to modernize the SCN; (ii) accordingly, Defendants overstated AeroVironment’s business and financial prospects; and (iii) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
On January 20, 2026, AeroVironment announced that the U.S. government had issued a stop work order on the Company’s agreement to deliver BADGER systems to the SCAR program. In the same announcement, AeroVironment stated that the stop work order “allows for the parties to negotiate an amended agreement for the future of the SCAR program” and that “[t]he Company expects to continue to deliver capabilities and products for the SCAR program.”
On this news, AeroVironment’s stock price fell $61.97 per share, or 15.77%, to close at $330.89 per share on January 20, 2026.
Then, on March 2, 2026, Space News reported that the U.S. Space Force was reopening the SCAR program and “reassessing how to move forward.” Space News quoted Colonel Owen Stevens, director of contracting at the Space Rapid Capabilities Office, which supervised SCAR, as stating, “We have been in conversations with the [senior acquisition executive] for a little while now, and we are going to move into a new acquisition strategy for SCAR.”
On this news, AeroVironment’s stock price fell $43.93 per share, or 17.42%, to close at $208.32 per share on March 2, 2026.
Then, on March 10, 2026, AeroVironment announced its financial results for the third quarter of fiscal year 2026. Among other items, AeroVironment reported a third-quarter operating loss of $179.0 million, compared to an operating loss of $3.1 million for the same period in fiscal year 2025. These financial results reflected the impact of a $151.3 million goodwill impairment in the Company’s space division after the stop work order on the Company’s BADGER systems built for the SCAR program. AeroVironment also reported that the U.S. Space Force had terminated the Company’s contract concerning the SCAR program, and as a result, it would have to “recompete” for the SCAR program.
On this news, AeroVironment’s stock price fell $13.84 per share, or 6.24%, to close at $207.73 per share on March 11, 2026.
On March 31, 2026, the U.S. Space Force announced its decision to diversify suppliers and rely on less costly commercial, off-the-shelf solutions in connection with its work to upgrade the SCN, instead of pursuing another single-vendor bespoke solution.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
Modern infantry doctrine is undergoing a rapid, radical rewrite in front of investors. If investors watch how global conflicts are playing out today, they see a clear departure from heavy, slow-moving legacy armor. The physical economy of defense is heavily shifting toward agile, autonomous platforms. Militaries across the globe are realizing that expensive tanks and traditional ground vehicles are highly vulnerable to cheap, precision-guided munitions. This realization is forcing defense departments to rethink how they allocate their capital, prioritizing systems that provide asymmetric advantages on the battlefield.
For investors keeping a close eye on defense spending, this structural pivot opens a unique window. Defense budgets are actively shifting capital away from traditional heavy machinery and toward autonomous robotics and advanced loitering munitions. Investors are witnessing a generational recapitalization, where software and adaptable hardware are replacing heavy steel. Understanding this macroeconomic backdrop is critical because it dictates where government funding will flow for the next decade.
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Pinpointing the Premier Autonomous Pure-PlayAeroVironment Today
$148.98 +6.38 (+4.47%)
As of 03:59 PM Eastern
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52-Week Range$135.20▼
$417.86Price Target$266.68
The United States military is not ignoring this global shift. The Pentagon's Replicator initiative encapsulates this transformation, mandating the rapid deployment of thousands of attritable, uncrewed systems designed to swarm and overwhelm adversaries in contested environments. The mandate is clear, and the defense department is seeking commercial partners capable of delivering reliable technology at an unprecedented scale.
Right at the intersection of this capital rotation sits AeroVironment NASDAQ: AVAV, a defense pure-play specializing in tactical uncrewed aerial systems. While prime contractors build billion-dollar fighter jets, AeroVironment builds the tactical, autonomous tools that are actually deployed by the modern infantry battalion on a daily basis. The market has heavily discounted AeroVironment this year, but underlying fundamentals and recent contract wins suggest a severe mispricing. When a structural shift in the physical economy meets a heavily misunderstood asset, investor analysts pay attention.
Tactical Upgrades: The MOSA Moat and Recurring RevenueOn July 20, 2026, AeroVironment secured a definitive $117.3 million Basic Ordering Agreement under the U.S. Army's Long Range Reconnaissance program. This initial full-rate procurement order covers 82 P550 autonomous Group 2 eVTOL electric vertical take-off and landing systems.
While a nine-figure contract provides excellent revenue visibility, the real value lies in the technology the Army just validated. The P550 architecture relies heavily on a modular open systems approach, widely known as MOSA in the defense sector. In simple terms, MOSA allows military operators in the field to hot-swap payloads, batteries, and sensors in under five minutes without specialized tools. Imagine operating a platform that lets you switch from a reconnaissance camera to an electronic warfare jammer right in the middle of a tactical operation.
This level of adaptability creates a significant economic moat for AeroVironment. When the military adopts a MOSA-compliant system, it locks in a long-term relationship with the manufacturer. Upgrades happen via new payloads rather than entirely new airframes, ensuring high-margin, recurring revenue streams for AeroVironment over the lifecycle of the P550 fleet.
The financial data backs up this aggressive expansion. In fiscal Q4 2026, AeroVironment delivered an impressive 133.3% year-over-year revenue expansion, printing $642 million on the top line. More importantly, AeroVironment maintained a healthy 19% EBITDA margin during that high-growth phase. AeroVironment currently has a funded government backlog of $1.2 to $2.7 billion. The demand for these systems is not theoretical; it is already contracted and awaiting delivery.
Turbulence and Tailwinds: Accumulation in the Drop ZoneIf AeroVironment is growing revenue by triple digits and securing major Army contracts, investors might wonder why the stock is down over 40% year-to-date, trading near $142 after opening the year above $241.
AeroVironment, Inc. (AVAV) Price Chart for Tuesday, July, 21, 2026
The aggressive drawdown stems from a localized regulatory headwind. In early 2026, the U.S. Space Force reopened the $1.7 billion Satellite Communication Augmentation Resource program, commonly known as SCAR, creating uncertainty around AeroVironment’s expected sole-source position on the program. Predictably, this sparked analyst downgrades regarding the 2030 long-term financial targets and triggered a wave of procedural class-action lawsuits ahead of a July 27 lead plaintiff deadline.
Markets hate uncertainty, and algorithmic trading models aggressively sold the news. However, this legal and procedural noise masks the fundamental strength of the core tactical drone business. The loss of single-vendor status on one space program does not negate the overwhelming demand for AeroVironment's ground-based and aerial tactical systems.
Wall Street analysts are beginning to spot the discrepancy between the stock price and the underlying business fundamentals. On July 16, Raymond James upgraded AeroVironment from Market Perform to Outperform, setting a $210 price target. The firm cited the accelerating defense backlog and a highly favorable risk-to-reward profile following the severe year-to-date pricing compression.
Institutions are quietly using the current weakness to accumulate shares. Recent filings show total shares owned by institutional investors increased by nearly 30% over the last quarter. When asset managers increase their positions by that magnitude during a 40% drawdown, it signals quiet, calculated accumulation. Options chain data currently reveals a decisively bullish put-to-call ratio of 0.60, indicating that derivatives traders are heavily positioning for an upside reversal rather than further downside.
Positioning for the Tactical Tech BoomThe broader unmanned aerial systems sector features incredibly varied risk profiles. Pure-play competitors like Red Cat Holdings NASDAQ: RCAT trade on extreme top-line momentum, generating 849% year-over-year revenue growth, but they operate with deeply negative free cash flow and low gross margins.
Others, like Kratos Defense & Security Solutions NASDAQ: KTOS, offer high-beta exposure driven by target drones and attritable jet systems. Meanwhile, traditional prime contractors like Northrop Grumman NYSE: NOC offer stability and a dividend yield, but lack the explosive growth potential of a smaller, agile tech firm.
AeroVironment occupies a unique middle ground. AeroVironment is scaling rapidly but still experiencing growing pains. Trailing net margins sit at -9%, reflecting the heavy capital expenditures required to expand manufacturing capacity to meet its multibillion-dollar backlog. AeroVironment must successfully transition from aggregating government contracts to delivering durable, bottom-line profitability.
The $117.3 million Army contract proves that the Department of Defense views AeroVironment as a premier supplier capable of meeting modern warfare demands. As global military budgets pivot away from legacy armor toward intelligent, scalable drone technologies, companies with verified government backlogs are positioned to capture significant market share. Investors with a higher risk tolerance might consider adding AeroVironment to their watchlist as the enterprise continues to convert its impressive backlog into realized revenue.
Should You Invest $1,000 in AeroVironment Right Now?Before you consider AeroVironment, you'll want to hear this.
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New York, New York--(Newsfile Corp. - July 21, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of AeroVironment, Inc. (NASDAQ: AVAV) between June 25, 2025 and March 10, 2026, inclusive (the "Class Period"), of the important July 27, 2026 lead plaintiff deadline.
SO WHAT: If you purchased AeroVironment securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the AeroVironment class action, go to https://rosenlegal.com/cases/aerovironment-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 27, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) AeroVironment understated the likelihood that it would imminently face competition from other vendors for the work it performed in connection with the U.S. Space Force's Satellite Communication Augmentation Resources ("SCAR") program and the U.S. Space Force's ongoing efforts to modernize the Satellite Control Network ("SCN"); (2) accordingly, defendants overstated AeroVironment's business and financial prospects; and (3) as a result, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the AeroVironment class action, go to https://rosenlegal.com/cases/aerovironment-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/305959
Source: The Rosen Law Firm PA
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