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Key Takeaways WFRD's Q2 earnings fell 70.6% year over year, while revenues beat estimates by 3.8%.Middle East disruptions, pricing pressure and higher logistics costs weighed on profitability.WFRD expects a gradual Middle East recovery and third-quarter revenues of $1.11-$1.16 billion. Weatherford International plc (WFRD - Free Report) reported second-quarter 2026 earnings of 55 cents per share, down 70.6% from $1.87 a year ago. The bottom line missed the Zacks Consensus Estimate of 92 cents by 40.2%.

Quarterly revenues of $1.11 billion beat the consensus estimate of $1.06 billion by 3.8% but declined 8.2% year over year.

Weak quarterly earnings can be attributed to disruptions in the Middle East and lower activity across several markets.

WFRD’s Regional Results Reflect Broad PressureNorth America revenues fell 15% year over year to $205 million. Lower Artificial Lift and Cementation Products activity affected the segment, partially offset by stronger Completions activity in the U.S. offshore market.

International revenues declined to $900 million from $963 million in the year-ago quarter. Latin America revenues edged up 1% year over year to $197 million, backed by stronger Completions activity in the Caribbean and managed pressure drilling in Mexico.

Middle East/North Africa/Asia revenues dropped 15% from the year-ago period to $446 million in the second quarter due to escalating geopolitical tensions that disrupted activity. Europe/Sub-Sahara Africa/Russia revenues rose to $257 million, up 5% from the corresponding period in 2025, driven by stronger Pressure Pumping and managed pressure drilling activity, partially offset by reduced Drilling Services activity in Europe.

Weatherford’s Segment ResultsDrilling and Evaluation revenues decreased 13% year over year to $291 million. Segment adjusted EBITDA fell 16% to $58 million, primarily due to lower Wireline and drilling-related services activity, partly offset by stronger managed pressure drilling performance in Europe/Sub-Sahara Africa/Russia.

Well Construction and Completions revenues declined 5% from the prior-year quarter to $433 million, while segment adjusted EBITDA fell 9% to $107 million. Revenues in the segment were pressured by lower activity in the Middle East/North Africa/Asia, while higher Completions activity in Latin America partially offset the impact.

Production and Intervention revenues slipped to $316 million, down 3% from the prior-year period due to reduced Artificial Lift activity in North America and Latin America. However, segment adjusted EBITDA increased to $70 million from $63 million in the second quarter of 2025, supported by stronger fall-through in Intervention Services and Drilling Tools in North America and Europe/Sub-Sahara Africa/Russia.

WFRD’s Profitability Faces Operational HeadwindsOperating income totaled $107 million, down approximately 55% from $237 million in the prior-year quarter. Net income attributable to Weatherford declined to $39 million from $136 million a year ago, while the net income margin was 3.5% in the reported quarter.

Adjusted EBITDA totaled $223 million, down 12% year over year. The company absorbed the impact of lower activity, pricing pressure and elevated freight and logistics costs related to the Middle East conflict.

Moreover, reduced activity in Indonesia and a union strike in Norway further pressured performance in the second quarter. Cost discipline helped keep the adjusted EBITDA margin nearly flat sequentially despite the weaker revenue base.

Weatherford Strengthens Cash Flow and LiquidityCash provided by operating activities was $175 million, up 37% year over year. Adjusted free cash flow increased 76% to $139 million, supported by working capital improvement, continued customer collections and lower capital spending. Capital expenditures were $42 million in the second quarter.

Weatherford returned $36 million to shareholders through $20 million in dividends and $16 million in share repurchases. The company ended the quarter with approximately $1.14 billion of cash and restricted cash, total liquidity of $1.7 billion and a net leverage ratio of 0.34X. Weatherford’s long-term debt at the end of the quarter stood at $1.45 billion.

WFRD Advances Key Strategic InitiativesWeatherford agreed to acquire NCS Multistage in a stock-and-cash transaction that expands its completions portfolio and exposure to unconventional resources. Management expects the deal to generate at least $15 million of annual cost synergies within 18 months of closing.

The company also introduced an updated proposal to redomesticate from Ireland to Delaware. Subject to shareholder and Irish High Court approvals, the move is expected to generate annual cash savings of $20-$30 million beginning in 2027.

Weatherford Updates Guidance Amid Gradual RecoveryFor the third quarter of 2026, management expects revenues of $1.11-$1.16 billion and adjusted EBITDA of $235-$265 million. Adjusted free cash flow is projected to exceed $100 million. The outlook assumes a progressive recovery in the Middle East, partly offset by activity declines in certain markets and the expiration of a Saudi contract.

For 2026, Weatherford now expects revenues of $4.54-$4.80 billion and adjusted EBITDA of $951 million to $1.05 billion. Adjusted free cash flow conversion is projected in the mid-to-high 40% range. Management expects the Middle East recovery to remain gradual and dependent on regional stability.

WFRD’s Zacks Rank & Key PicksWFRD currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the energy sector are Par Pacific Holdings (PARR - Free Report) , Valero Energy (VLO - Free Report) and FuelCell Energy (FCEL - Free Report) . While Par Pacific sports a Zacks Rank #1 (Strong Buy), Valero Energy and FuelCell Energy carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks Rank #1 stocks here.

Par Pacific Holdings operates an integrated downstream energy business across the United States, with fuel retail operations in Hawaii, Washington and Idaho, refining operations in Hawaii, Wyoming, Washington and Montana, and a supporting logistics network. Its refineries have a combined crude oil throughput capacity of 219,000 barrels per day and produce gasoline, diesel, jet fuel, marine fuels, asphalt and other petroleum products.

Valero Energy is a leading refining player with a robust network of 14 refineries and a combined high-complexity throughput capacity of 3 million barrels per day, which distinguishes it from other independent refiners. Valero’s refineries have a combined Nelson Complexity Index of 11.5, which implies that they can process a wide variety of feedstocks, convert them into higher-value products and shift product yields according to market conditions.

FuelCell Energy is a clean energy company that offers scalable, reliable, low-carbon power solutions. It produces power using flexible fuel sources such as biogas, natural gas and hydrogen. The company’s proprietary molten carbonate fuel cell systems generate electricity through an electrochemical process instead of burning fuel, reducing carbon emissions and minimizing the environmental impact of power generation. FCEL is anticipated to play a crucial role in the energy transition by enabling industries and communities to shift from traditional fossil fuels to low-carbon alternatives.

Huntington Bancshares Incorporated (HBAN) Q2 2026 Earnings Call July 23, 2026 9:00 AM EDT

Company Participants

Eric Wasserstrom - Executive VP & Head of Investor Relations
Stephen Steinour - Chairman, President & CEO
Brantley Standridge - Senior EVP and President of Consumer & Regional Banking
Zachary Wasserman - CFO & Senior EVP

Conference Call Participants

L. Erika Penala - UBS Investment Bank, Research Division
Manan Gosalia - Morgan Stanley, Research Division
Jon Arfstrom - RBC Capital Markets, Research Division
John Pancari - Evercore ISI Institutional Equities, Research Division
Kenneth Usdin - Bernstein Autonomous LLP

Presentation

Operator

Greetings, and welcome to the Huntington Bancshares Second Quarter 2026 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Eric Wasserstrom.

Eric Wasserstrom
Executive VP & Head of Investor Relations

Thank you, operator. Good morning, and welcome, everyone, to our second quarter call. Our presenters today are Steve Steinour, Chairman, President and CEO; Brant Standridge, President of Consumer and Regional Banking; and Zach Wasserman, Chief Financial Officer; Brendan Lawlor, Chief Credit Officer, will join us for Q&A.

Earnings documents, which include our forward-looking statements disclaimer and non-GAAP information and copies of the slides we will be reviewing today are available on the Investor Relations section of our website, which is www.ir.huntington.com. As a reminder, this call is being recorded, and a replay will be available starting about 1 hour after the close of the call.

With that, let me now turn it over to Steve.

Stephen Steinour
Chairman, President & CEO

Thanks, Eric. Good morning, and thank you for joining us. Starting on Slide 3. We delivered an exceptional quarter marked by strong organic growth, expanding revenue and profitability and the successful completion of the Cadence systems conversion. We achieved these results while continuing to invest in our businesses, technology and support

Ryder System, Inc. (R) Q2 2026 Earnings Call July 23, 2026 11:00 AM EDT

Company Participants

Calene Candela - Vice President of Investor Relations
John Diez - CEO & Director
Cristina Gallo-Aquino - CFO, EVP & Principal Accounting Officer
John Sensing - President of Global Supply Chain Solutions & Dedicated Transportation Solutions
Tom Havens - President of Global Fleet Management Solutions

Conference Call Participants

Bascome Majors - Stephens Inc., Research Division
Jordan Alliger - Goldman Sachs Group, Inc., Research Division
Robert Salmon - Wells Fargo Securities, LLC, Research Division
Nancy Hipp - Morgan Stanley, Research Division
Harrison Bauer - Susquehanna Financial Group, LLLP, Research Division
Brandon Oglenski - Barclays Bank PLC, Research Division
Jeffrey Kauffman - Citizens JMP Securities, LLC, Research Division
Scott Group - Wolfe Research, LLC
Benjamin Mohr Mok - Citigroup Inc., Research Division
Brian Ossenbeck - JPMorgan Chase & Co, Research Division

Presentation

Operator

Good morning, and welcome to the Ryder System Second Quarter 2026 Earnings Release Conference Call. [Operator Instructions] Today's call is being recorded. If you have any objections, please disconnect at this time. I would now like to introduce Ms. Calene Candela, Vice President, Investor Relations for Ryder. Ms. Candela, you may begin.

Calene Candela
Vice President of Investor Relations

Thank you. Good morning, and welcome to Ryder's Second Quarter 2026 Earnings Conference Call. I'd like to remind you that during this presentation, you'll hear some forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to changes in economic, business, competitive, market, political and regulatory factors.

More detailed information about these factors and a reconciliation of each non-GAAP financial measure to the nearest GAAP measure is contained in this morning's earnings release, earnings call presentation

New York, New York--(Newsfile Corp. - July 23, 2026) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) on behalf of all persons or entities who purchased PicS Class A common stock in and/or traceable to PicS' initial public offering ("IPO") on or around January 30, 2026.

CLICK HERE TO JOIN THE CASE

If you are an investor in PicS and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (646) 315-9003.

DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than August 4, 2026 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.

On or around January 30, 2026, PicS concluded its IPO, selling approximately 22.9 million shares of Class A common stock at $19 per share.

On March 19, 2026, less than three months after the IPO, PicS released its fourth quarter and full year 2025 financial results, which ended December 31, 2025 - before the IPO. The Company revealed that in December 2025, as part of the Company's "annual review of expected credit loss parameters," the Company had "implemented a stricter policy to accelerate the classification of renegotiated non-performing exposures from Stage 2 to Stage 3." Consequently, "R$590 million of Stage 2 portfolio balances were reclassified to Stage 3, resulting in an ECL increase of R$88 million in the quarter." Stage 3 is the Company's highest risk category for its credit portfolio, or "credit impaired."

On March 19, 2026, the price of PicS shares fell $3.56 per share, or 22.5%, to close at $12.27 per share.

The complaint alleges, among other things, that in connection with the IPO, Defendants made false and/or misleading statements and/or failed to disclose that "(a) that PicS had conducted an evaluation of its credit evaluation procedures in December 2025 and determined that such procedures were deficient and in need of enhancement; (b) that, as a result of the new procedures the Company had implemented in December 2025, PicS had reclassified approximately R$590 million of exposures previously classified as Stage 2 to Stage 3, leading to an incremental ECL charge of R$88 million in the three months ended December 31, 2025; (c) that PicS had experienced a heightened, but unreported, Stage 3 formation rate of more than 7% in the fourth quarter of 2025 that deviated substantially from the historical results and trends provided in the Offering Documents; (d) that the Offering Documents had materially overstated the quality and ability of the Company's credit models and user data to inform the Company's underwriting practices and to allow PicS to timely and effectively monitor, assess, and identify adverse credit events, credit risks, and credit deterioration across its portfolio; and (e) that PicS suffered from degradations in customer credit quality and heightened risks of default and loan impairment as a result of its entrance into materially riskier business lines leading up to the IPO, resulting in undisclosed adverse financial and operational trends such as heightened incidents of default, which predated the IPO and were internally projected by PicS to continue to worsen following the IPO, materially impairing the Company's business, operations, and financial results."

The complaint alleges that as of June 4, 2026, PicS Class A common stock fell to a low of less than $9 per share, representing a more than 50% decline from the $19 per share IPO price.

WHY CONTACT KAPLAN FOX?

Kaplan Fox & Kilsheimer LLP is a nationally recognized law firm focused on complex litigation, with offices in New York, Oakland, Los Angeles, Chicago, and New Jersey. Founded in 1956, the firm has spent more than 50 years prosecuting securities, antitrust, and consumer protection actions in federal and state courts nationwide, recovering more than $10 billion for clients and the classes it has represented.

Kaplan Fox is widely regarded as one of the nation's premier plaintiffs' securities litigation firms and has received recognition from Chambers and Partners, Benchmark Litigation, Super Lawyers, and Lawdragon. Serving as lead or co-lead counsel in many landmark cases, the firm has secured some of the largest recoveries in the history of securities litigation, including a $2.425 billion recovery on behalf of Bank of America shareholders in In re Bank of America—the largest recovery ever obtained for claims under Section 14(a) of the Securities Exchange Act—$800 million recovered for the Arkansas Teacher Retirement System and other pension funds in ATRS v. Allianz Global Investors, and a $475 million settlement in In re Merrill Lynch.

For decades, Kaplan Fox has represented public pension funds, institutional investors, businesses, and individuals in high-stakes litigation. Through its successful advocacy and precedent-setting victories, the firm has helped shape important areas of securities and corporate law while advancing accountability and protecting investor interests.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Past results do not guarantee future outcomes.

If you have any questions about this Notice, your rights, or your interests, please contact:

Contacting or submitting information to Kaplan Fox & Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client.

https://www.kaplanfox.com/case/pics-n-v-class-action-alert-learn-more-now/

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306294

Source: Kaplan Fox & Kilsheimer LLP

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, /PRNewswire/ -- Boyd Gaming Corporation (NYSE: BYD) today reported financial results for the second quarter ended June 30, 2026.  

Keith Smith, President and Chief Executive Officer of Boyd Gaming, said: "Our second-quarter results demonstrated the benefits of our diversified business model, with strong performances from our Midwest & South operations, Online segment and Managed business. Results for the quarter, on a comparable basis, reflect both revenue and Adjusted EBITDAR growth, with property operating margins of 40%, a level we have consistently delivered over the last several years. This performance was supported by strength in play from both our core and retail customers across the portfolio, as well as contributions from our recent capital investments. We also returned substantial capital to our shareholders, with more than $170 million in dividends and share repurchases during the second quarter. With our strong balance sheet, efficient operating model and robust free cash flow, our Company is well-positioned to continue creating long-term shareholder value."

Boyd Gaming reported second-quarter 2026 revenues of $1.03 billion, in-line with the second quarter of 2025. The Company reported net income of $131.2 million, or $1.75 per share, for the second quarter of 2026, compared to $151.5 million, or $1.84 per share, for the year-ago period. Total Adjusted EBITDAR(1) was $350.5 million in the second quarter of 2026 versus $357.9 million in the second quarter of 2025. Adjusted Earnings(1) for the second quarter of 2026 were $144.4 million, or $1.93 per share, compared to $154.2 million, or $1.87 per share, for the same period in 2025. 

(1) See footnotes at the end of the release for additional information relative to non-GAAP financial measures.

Operations Review
Our Midwest & South operations once again delivered revenue and Adjusted EBITDAR growth during the quarter, driven by increased play from our core and retail customers, as well as contributions from recent capital investments across the segment.  While results in the Las Vegas Locals segment were impacted by continued softness in destination business, primarily at the Orleans, and ongoing construction disruption at the Suncoast, the remainder of the segment grew revenues and Adjusted EBITDAR over the prior year, with property margins exceeding 50%. In our Downtown Las Vegas segment, play from both our core and Hawaiian customers was consistent with recent quarters; however, results continued to be impacted by ongoing softness in destination business throughout the downtown area.

Results in our Online segment reflected growth from the Company's online casino gaming business, as well as contributions from third-party market access agreements consistent with the last several quarters. Strong revenue and Adjusted EBITDAR growth in our Managed business was driven by increased management fees from Sky River Casino following its recently completed expansion.

Dividend and Share Repurchase Update
Boyd Gaming paid a quarterly cash dividend of $0.20 per share on July 15, 2026, as previously announced.

As part of its ongoing share repurchase program, the Company repurchased $156 million in shares of its common stock during the second quarter of 2026. The Company had $551 million remaining under its current share repurchase authorization as of June 30, 2026.

Balance Sheet Statistics
As of June 30, 2026, Boyd Gaming had cash on hand of $322.7 million, and total debt of $2.6 billion. 

Conference Call Information
Boyd Gaming will host a conference call to discuss its second-quarter 2026 results today, July 23, at 5:00 p.m. Eastern.  The conference call number is (800) 836-8184. No passcode is required to join the call.  Please call up to 15 minutes in advance to ensure you are connected prior to the start of the call. 

The conference call will also be available online at https://investors.boydgaming.com or https://app.webinar.net/gBE9RqpOV3y.

Following the call's completion, a replay will be available by dialing (888) 660-6345 today, July 23, and continuing through Thursday, July 30.  The passcode for the replay will be 62234#.  The replay will also be available at https://investors.boydgaming.com.

BOYD GAMING CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

Three Months Ended

Six Months Ended

June 30,

June 30,

(In thousands, except per share data)

2026

2025

2026

2025

Revenues

Gaming

$             683,289

$             671,455

$          1,333,790

$          1,310,148

Food & beverage

77,702

78,167

153,472

152,325

Room

50,413

51,453

96,360

98,841

Online

31,825

39,139

58,073

79,107

Online reimbursements

126,357

133,912

261,804

263,517

Management fee

28,481

23,775

54,702

48,921

Other

36,319

36,097

73,540

72,704

Total revenues

1,034,386

1,033,998

2,031,741

2,025,563

Operating costs and expenses

Gaming

267,630

259,554

522,479

505,677

Food & beverage

66,980

65,633

131,895

128,970

Room

19,801

19,492

38,973

38,489

Online

20,992

16,183

38,662

32,608

Online reimbursements

126,357

133,912

261,804

263,517

Other

12,467

12,149

25,672

24,940

Selling, general and administrative

110,882

110,065

220,867

217,911

Master lease rent expense (a)

28,856

28,442

57,440

56,602

Maintenance and utilities

38,515

37,322

74,258

74,047

Depreciation and amortization

91,101

69,985

186,090

138,208

Corporate expense

33,243

35,365

70,027

65,316

Project development, preopening and writedowns

15,356

2,764

35,624

1,242

Impairment of assets

—

—

—

32,272

Other operating items, net

1,508

762

3,260

3,507

Total operating costs and expenses

833,688

791,628

1,667,051

1,583,306

Operating income

200,698

242,370

364,690

442,257

Other expense (income)

Interest income

(1,282)

(1,263)

(3,147)

(2,071)

Interest expense, net of amounts capitalized

31,423

50,569

59,874

99,006

Loss on early extinguishments and modifications of debt

—

—

391

—

Other, net 

(3)

(48)

4

59

Total other expense, net

30,138

49,258

57,122

96,994

Income before income taxes

170,560

193,112

307,568

345,263

Income tax provision

(40,637)

(42,758)

(73,352)

(84,027)

Net income

129,923

150,354

234,216

261,236

Net loss attributable to noncontrolling interest

1,311

1,104

2,560

1,641

Net income attributable to Boyd Gaming 

$             131,234

$             151,458

$             236,776

$             262,877

Basic net income per common share

$                   1.75

$                   1.84

$                   3.12

$                   3.14

Weighted average basic shares outstanding

74,817

82,289

75,787

83,696

Diluted net income per common share

$                   1.75

$                   1.84

$                   3.12

$                   3.14

Weighted average diluted shares outstanding

74,817

82,303

75,791

83,712

(a) Rent expense incurred by those properties subject to a master lease with a real estate investment trust.

BOYD GAMING CORPORATION

SUPPLEMENTAL INFORMATION

Reconciliation of Adjusted EBITDA to Net Income Attributable to Boyd Gaming

(Unaudited)

Three Months Ended

Six Months Ended

June 30,

June 30,

(In thousands)

2026

2025

2026

2025

Total Revenues by Segment

Las Vegas Locals

$             225,898

$             229,091

$             443,002

$             451,890

Downtown Las Vegas

52,112

55,253

107,050

112,540

Midwest & South

556,890

540,077

1,081,983

1,044,664

Online

158,182

173,051

319,877

342,624

Managed & Other

41,304

36,526

79,829

73,845

Total revenues

$          1,034,386

$          1,033,998

$          2,031,741

$          2,025,563

Adjusted EBITDAR by Segment

Las Vegas Locals

$             106,416

$             112,714

$             206,378

$             219,261

Downtown Las Vegas

16,905

19,405

35,805

40,328

Midwest & South

208,748

201,401

401,389

384,623

Online

10,590

22,244

18,946

45,550

Managed & Other

30,692

25,963

59,108

53,282

Corporate expense, net of share-based compensation expense (a)

(22,883)

(23,865)

(53,743)

(47,665)

Adjusted EBITDAR

350,468

357,862

667,883

695,379

Master lease rent expense (b)

(28,856)

(28,442)

(57,440)

(56,602)

Adjusted EBITDA

321,612

329,420

610,443

638,777

Other operating costs and expenses

Deferred rent

132

147

264

294

Depreciation and amortization

91,101

69,985

186,090

138,208

Share-based compensation expense

12,817

13,392

20,515

20,997

Project development, preopening and writedowns

15,356

2,764

35,624

1,242

Impairment of assets

—

—

—

32,272

Other operating items, net

1,508

762

3,260

3,507

Total other operating costs and expenses

120,914

87,050

245,753

196,520

Operating income

200,698

242,370

364,690

442,257

Other expense (income)

Interest income

(1,282)

(1,263)

(3,147)

(2,071)

Interest expense, net of amounts capitalized

31,423

50,569

59,874

99,006

Loss on early extinguishments and modifications of debt

—

—

391

—

Other, net 

(3)

(48)

4

59

Total other expense, net

30,138

49,258

57,122

96,994

Income before income taxes

170,560

193,112

307,568

345,263

Income tax provision

(40,637)

(42,758)

(73,352)

(84,027)

Net income

129,923

150,354

234,216

261,236

Net loss attributable to noncontrolling interest

1,311

1,104

2,560

1,641

Net income attributable to Boyd Gaming 

$             131,234

$             151,458

$             236,776

$             262,877

(a) Reconciliation of corporate expense:

Three Months Ended

Six Months Ended

June 30,

June 30,

(In thousands)

2026

2025

2026

2025

Corporate expense as reported on Condensed Consolidated Statements of Operations

$               33,243

$               35,365

$               70,027

$               65,316

Corporate share-based compensation expense

(10,360)

(11,500)

(16,284)

(17,651)

Corporate expense, net, as reported on the above table

$               22,883

$               23,865

$               53,743

$               47,665

(b) Rent expense incurred by those properties subject to a master lease with a real estate investment trust.

BOYD GAMING CORPORATION

SUPPLEMENTAL INFORMATION

Reconciliations of Net Income attributable to Boyd Gaming to Adjusted Earnings

and Net Income Per Share to Adjusted Earnings Per Share

(Unaudited)

Three Months Ended

Six Months Ended

June 30,

June 30,

(In thousands, except per share data)

2026

2025

2026

2025

Net income attributable to Boyd Gaming

$             131,234

$             151,458

$             236,776

$             262,877

Pretax adjustments:

Project development, preopening and writedowns

15,356

2,764

35,624

1,242

Impairment of assets

—

—

—

32,272

Other operating items, net

1,508

762

3,260

3,507

Loss on early extinguishments and modifications of debt

—

—

391

—

Other, net

(3)

(48)

4

59

Total adjustments

16,861

3,478

39,279

37,080

Income tax effect for above adjustments

(3,663)

(779)

(8,531)

(8,072)

Adjusted earnings

$             144,432

$             154,157

$             267,524

$             291,885

Net income per share, diluted

$                   1.75

$                   1.84

$                   3.12

$                   3.14

Pretax adjustments:

Project development, preopening and writedowns

0.21

0.03

0.47

0.02

Impairment of assets

—

—

—

0.39

Other operating items, net

0.02

0.01

0.04

0.04

Loss on early extinguishments and modifications of debt

—

—

0.01

—

Other, net 

—

—

—

—

Total adjustments

0.23

0.04

0.52

0.45

Income tax effect for above adjustments

(0.05)

(0.01)

(0.11)

(0.10)

Adjusted earnings per share, diluted

$                   1.93

$                   1.87

$                   3.53

$                   3.49

Weighted average diluted shares outstanding

74,817

82,303

75,791

83,712

Non-GAAP Financial Measures
Our financial presentations include the following non-GAAP financial measures: 

EBITDA: earnings before interest, taxes, depreciation and amortization, Adjusted EBITDA: EBITDA adjusted for deferred rent, share-based compensation expense, project development, preopening and writedowns expense, impairments of assets, other operating items, net, gain or loss on early extinguishments and modifications of debt, net income (loss) attributable to noncontrolling interest and other items, net, as applicable, EBITDAR: EBITDA further adjusted for rent expense associated with master leases with a real estate investment trust, Adjusted EBITDAR: Adjusted EBITDA further adjusted for rent expense associated with master leases with a real estate investment trust, Adjusted Earnings: net income before project development, preopening and writedowns expense, impairments of assets, other operating items, net, gain or loss on early extinguishments and modifications of debt, net income (loss) attributable to noncontrolling interest, and other non-recurring adjustments, net, as applicable, and, Adjusted Earnings Per Share (Adjusted EPS): Adjusted Earnings divided by weighted average diluted shares outstanding. Collectively, we refer to these and other non-GAAP financial measures as the "Non-GAAP Measures." 

The Non-GAAP Measures are commonly used measures of performance in our industry that we believe, when considered with measures calculated in accordance with accounting principles generally accepted in the United States (GAAP), provide our investors with a more complete understanding of our operating results and facilitates comparisons between us and our competitors. We provide this information to investors to enable them to perform comparisons of our past, present and future operating results and as a means to evaluate the results of core on-going operations. We have historically reported these measures to our investors and believe that the continued inclusion of the Non-GAAP Measures provides consistency in our financial reporting. We also believe this information is useful to investors in allowing greater transparency related to significant measures used by our management in their financial and operational decision-making, their evaluation of total company and individual property performance, in the evaluation of incentive compensation and in the annual budget process. Management also uses Non-GAAP Measures in the evaluation of potential acquisitions and dispositions. We believe these measures continue to be used by investors in their assessment of our operating performance and the valuation of our company. 

The use of Non-GAAP Measures has certain limitations. Our presentation of the Non-GAAP Measures may be different from the presentation used by other companies and therefore comparability may be limited. While excluded from certain of the Non-GAAP Measures, depreciation and amortization expense, interest expense, income taxes and other items have been and will be incurred. Each of these items should also be considered in the overall evaluation of our results. Additionally, the Non-GAAP Measures do not consider capital expenditures and other investing activities and should not be considered as a measure of our liquidity. We compensate for these limitations by providing the relevant disclosure of our depreciation and amortization, interest and income taxes, capital expenditures and other items both in our reconciliations to the historical GAAP financial measures and in our consolidated financial statements, all of which should be considered when evaluating our performance. We do not provide a reconciliation of forward-looking Non-GAAP Measures to the corresponding forward-looking GAAP measure due to our inability to project special charges and certain expenses.

The Non-GAAP Measures are to be used in addition to and in conjunction with results presented in accordance with GAAP. The Non-GAAP Measures should not be considered as an alternative to net income, operating income, or any other operating performance measure prescribed by GAAP, nor should these measures be relied upon to the exclusion of GAAP financial measures. The Non-GAAP Measures reflect additional ways of viewing our operations that we believe, when viewed with our GAAP results and the reconciliations to the corresponding historical GAAP financial measures, provide a more complete understanding of factors and trends affecting our business than could be obtained absent this disclosure. Management strongly encourages investors to review our financial information in its entirety and not to rely on a single financial measure. 

Forward-looking Statements and Company Information
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements contain words such as "may," "will," "might," "expect," "believe," "anticipate," "could," "would," "estimate," "continue," "pursue," or the negative thereof or comparable terminology, and may include (without limitation) information regarding the Company's expectations, goals or intentions regarding future performance. These forward-looking statements are based on the current beliefs and expectations of management and involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond Boyd Gaming's ability to control or estimate precisely. Additional factors that could cause actual results to differ are discussed under the heading "Risk Factors" and in other sections of the Company's Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and in the Company's other current and periodic reports filed from time to time with the SEC. The reader is cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. All forward-looking statements in this press release are made as of the date hereof, based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement.

About Boyd Gaming
Founded in 1975, Boyd Gaming Corporation (NYSE: BYD) is a leading geographically diversified operator of 27 gaming entertainment properties in 11 states. The Company also manages a tribal casino in northern California, and owns and operates Boyd Interactive, a B2B and B2C online casino gaming business. Boyd Gaming's nationwide portfolio is connected through Boyd Rewards, recognized as the nation's favorite casino loyalty program by readers of both USA Today and Newsweek.  Named by Forbes and Time magazines as one of "America's Best Companies," and led by one of the most experienced teams in the industry, Boyd Gaming is dedicated to delivering an outstanding entertainment experience and memorable guest service. For additional Company information and press releases, visit https://www.boydgaming.com.

SOURCE Boyd Gaming Corporation

SAN JOSE, Calif.--(BUSINESS WIRE)---- $CALX #calix--Calix, Inc. (NYSE: CALX) announced today that Conexon Connect, the internet service provider arm of rural fiber broadband leader Conexon, is leveraging Calix Agent Workforce™ Cloud on the AI-native Calix One™ platform to scale their growth across residential, business, and multi-dwelling unit (MDU) markets. Since first partnering with Calix in 2021, Conexon Connect has grown rapidly from the ground up, scaling over five years, with current projects across Colo.

Key Takeaways Revolution Medicines' FDA filing for daraxonrasib in metastatic PDAC was accepted under the CNPV program.RVMD's phase III study met all endpoints, showing improved survival, disease control and quality of life.The company is advancing late-stage studies and combination trials across multiple RAS-driven cancers. Revolution Medicines (RVMD - Free Report) announced that the FDA has accepted its regulatory filing seeking approval for its lead candidate, daraxonrasib, for previously treated patients with metastatic pancreatic ductal adenocarcinoma (PDAC).

The submission is being reviewed under the agency’s Commissioner’s National Priority Voucher (“CNPV”) pilot program — an initiative designed to significantly accelerate the review of therapies targeting serious or life-threatening diseases with high unmet medical needs. The program uses a collaborative review process to compress review timelines well below the standard 10-month review period (or about six months for drugs granted priority review).

The filing is supported by data from the phase III RASolute 302 study, which met all its primary and secondary endpoints. Recently, Revolution Medicines reported full results from this study, which showed that daraxonrasib reduced the risk of death by 60% compared with chemotherapy and nearly doubled median overall survival. The treatment also significantly improved progression-free survival and quality-of-life measures.

Cytotoxic chemotherapy is considered the standard of care for previously treated metastatic PDAC, a setting in which effective therapies remain limited. If approved, daraxonrasib could become a new treatment option for this patient population.

An approval would also mark a major inflection point for Revolution Medicines. Daraxonrasib would become the company's first marketed product, transforming it from a clinical-stage biotech into a commercial-stage company with its first revenue-generating therapy. A successful launch would also validate the company's RAS-targeting platform and establish a commercial foundation for advancing its broader oncology pipeline.

RVMD Stock’s Price PerformanceYear to date, the company’s shares have skyrocketed 130% compared with the industry’s 2% growth.

Image Source: Zacks Investment Research

More on RVMD’s DaraxonrasibDaraxonrasib is designed to target a broad spectrum of RAS-driven cancers, including PDAC, non-small cell lung cancer (NSCLC) and colorectal cancer.

Apart from RASolute 302, Revolution Medicines is evaluating daraxonrasib in several other PDAC settings in late-stage studies. While the RASolute 303 study is assessing the drug for the first-line metastatic setting of the disease, the RASolute 304 study is evaluating its efficacy as an adjuvant therapy for patients with resectable PDAC.

For NSCLC, the company is conducting the phase III RASolve 301 study evaluating daraxonrasib in patients with locally advanced or metastatic RAS-mutated NSCLC. It is on track to start a fifth late-stage study on the drug in the first-line NSCLC setting soon.

To further strengthen its position in RAS-driven cancers, Revolution Medicines has established multiple clinical collaborations to evaluate daraxonrasib and its other RAS inhibitors in combination regimens. These partnerships include collaborations with Bristol Myers (BMY - Free Report) , Summit Therapeutics (SMMT - Free Report) and Tango Therapeutics (TNGX - Free Report) .

RVMD’s Zacks RankRevolution Medicines currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways Equinix is expected to post higher Q2 revenues and AFFO per share year over year.Strong AI, cloud adoption and digital transformation demand may drive interconnected data center growth.EQIX's AFFO estimate rose to $11.25, though high interest expenses could pressure quarterly results. Equinix, Inc. (EQIX - Free Report) is scheduled to report second-quarter 2026 results on July 29, after market close. The company’s quarterly results are likely to display a year-over-year rise in revenues and adjusted funds from operations (AFFO) per share.

In the previous quarter, this Redwood City, CA-based data center real estate investment trust (REIT) reported an AFFO of $10.79 per share, missing the Zacks Consensus Estimate of $10.89 per share. The results reflected higher recurring revenues, led by strong demand for digital infrastructure and services.

Over the preceding four quarters, EQIX’s AFFO per share surpassed the consensus estimate on two occasions and missed in the remaining quarters, with the average beat being 2.83%. This is depicted in the graph below:

Factors at Play for EquinixIn the second quarter of 2026, Equinix is likely to have benefited from the solid demand for interconnected data center infrastructure. Enterprises’ and service providers’ continued efforts to integrate artificial intelligence (AI) into their strategies and offerings and advance their digital transformation agendas are likely to keep demand up in the upcoming years.

Moreover, the demand for Equinix’s interconnected ecosystem is likely to have remained strong, driven by accelerating enterprise cloud adoption and increasing demand from cloud and internet customers for highly interconnected data center space.

The company’s recurring revenue model, which comprises colocation, related interconnection and managed infrastructure services, is expected to have supported stable cash flows in the to-be-reported quarter, boosting the data center REIT’s top line.

Q2 Projections for EQIXThe Zacks Consensus Estimate for colocation revenues is pegged at $1.78 billion, suggesting growth from $1.59 billion in the prior-year period. The consensus mark for interconnection revenues is pinned at $463.6 million, indicating growth from $407 million in the prior-year period.

The consensus mark for managed infrastructure revenues is pegged at $121.7 million, implying an increase from $117 million reported in the prior-year period. The consensus mark for other revenues is pinned at $39.8 million, indicating a rise from $34 million in the prior-year quarter.

For the second quarter of 2026, Equinix projected revenues between $2.571 billion and $2.611 billion, implying around a 9-10% increase over the prior quarter. The Zacks Consensus Estimate for the same is pegged at $2.59 billion, indicating an increase of 14.8% from the year-ago period’s reported figure.

EQIX estimated adjusted EBITDA in the range of $1.349-$1.389 billion for the second quarter.

EQIX’s activities during the to-be-reported period were adequate to garner analysts’ confidence. The Zacks Consensus Estimate for quarterly AFFO per share has been revised 57 cents upward to $11.25 over the past three months. It suggests a 13.5% increase from the prior-year quarter’s reported figure.

However, high interest expenses might have partly impeded the company’s quarterly performance.

What Our Quantitative Model Predicts for EQIXOur proven model doesn’t conclusively predict a surprise in terms of AFFO per share for Equinix this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an AFFO beat, which is not the case here.

Equinix currently has an Earnings ESP of 0.00% and a Zacks Rank of 3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Stocks That Warrant a LookHere are two stocks from the broader REIT industry — Extra Space Storage (EXR - Free Report) and Cousins Properties (CUZ - Free Report) — that you may want to consider, as our model shows that these have the right combination of elements to report a surprise this quarter.

EXR, which is scheduled to report quarterly results on July 28, 2026, has an Earnings ESP of +0.39% and a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Cousins Properties is slated to report quarterly numbers on July 30, 2026. CUZ has an Earnings ESP of +0.45% and carries a Zacks Rank of 3 at present.

Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.

Pinnacle Financial Partners, Inc. (PNFP) Q2 2026 Earnings Call Transcript

NEW YORK, July 23, 2026 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Badger Meter, Inc. (NYSE: BMI) between April 18, 2024 and April 16, 2026, inclusive (the “Class Period”), of the important August 3, 2026 lead plaintiff deadline.

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Free wings with qualifying purchase, exclusive Club Wingstop rewards and live music experiences bring fans the ultimate week of flavor

, /PRNewswire/ -- Wingstop is turning up the flavor and elevating Wingstop Wing Day like never before. For the first time, the brand is expanding its takeover of National Wing Day (July 29) into Wingstop Wing Week, a five-day takeover from July 27–31, bringing fans even more ways to score free wings, unlock exclusive Club Wingstop rewards and, for eligible fans, enter for a chance to win live music prizes.

Wingstop is expanding Wing Day into Wing Week, a five-day celebration of rewards and experiences. Club Wingstop brings fans closer to the moments and experiences they love, and Wingstop Wing Week is giving everyone a taste of the exclusive access members can expect. Fans can enter for a chance to win once-in-a-lifetime music experiences and other prizes through Wingstop's broader $1 million giveaway, including trips to concerts and festivals with tickets, airfare, hotel accommodations and spending money. Fans can also score Ticketmaster® gift cards, Tickets for a Year and more, making this the ultimate week for flavor fanatics and music lovers alike.

Daily prize moments include:

Monday (7/27): $500 Ticketmaster gift card + $500 Wingstop gift card Tuesday (7/28): Concert package for two, including concert tickets, airfare, hotel and spending money Wednesday (7/29): Tickets for a Year ($3,000 Ticketmaster gift card) Thursday (7/30): Festival package for two, including VIP festival tickets, airfare, hotel and spending money Friday (7/31): $500 Ticketmaster gift card + $500 Wingstop gift card On Wingstop Wing Day (7/29), Wingstop is bringing back one of its biggest offers of the year: 5 FREE wings with any qualifying $10+ purchase using promo code FREEWINGS. It's also fans' last call to try Wingstop's limited-time Sweet Heat Chamoy flavor, and what greater way to experience the sweet-and-spicy favorite than with five FREE wings? Better yet, Club Wingstop members get extended access to the Wingstop Wing Day offer, with the ability to redeem one 5 FREE wings offer daily from 7/28–7/30 as part of Wingstop Wing Week.

Fans can unlock Wingstop Wing Week food offers and sign up for Club Wingstop to tap into insider perks and exclusive access through the Wingstop app or Wingstop.com.

NO PURCHASE NECESSARY. Legal U.S./D.C.(excluding AK, HI, ME, MT, ND, RI, VT) residents, 18+. Void where prohibited. Begins 12:00 PM PT on 7/27/26 and ends 11:59 PM PT on 7/31/26. To enter or see Official Rules, visit ticketmaster.com/wingstop. Odds of winning depend upon the number of entries received. Sponsor is Wingstop Restaurants, Inc., 2801 N. Central Expressway, Suite 1600, Dallas, TX 75204. Administrator is Live Nation Worldwide, Inc., 9348 Civic Center Drive, Beverly Hills, CA 90210. Ticketmaster is a registered trademark of Live Nation Worldwide, Inc.

About Wingstop
Founded in 1994 and headquartered in Dallas, TX, Wingstop Inc. (NASDAQ: WING) operates and franchises more than 3,000 restaurants worldwide, with approximately 98% of the total restaurant count owned by brand partners. Generating over $5 billion in system-wide sales in fiscal 2025, Wingstop offers made-to-order, always fresh classic and boneless wings, tenders and chicken sandwiches in 12 bold, distinctive flavors, alongside signature sides and iconic housemade ranch and bleu cheese dips. Dedicated to Serving the World Flavor, Wingstop is the Official Chicken Partner of the NBA with a vision to become a Top 10 Global Restaurant Brand. Learn more at wingstop.com or follow @Wingstop on X, Instagram, Facebook and TikTok.

Media Contact
Kyra Harbert
[email protected]

SOURCE Wingstop Restaurants Inc.

Key Takeaways ACGL's Q2 premiums are likely to reflect underwriting discipline despite softer property reinsurance pricing. Higher investment income and share buybacks are expected to support second-quarter earnings.Elevated catastrophe losses and higher expenses may pressure underwriting profitability.
Arch Capital Group Ltd. (ACGL - Free Report) is expected to register a decrease in both top and bottom lines when it reports second-quarter 2026 results on July 28, after the closing bell.

The Zacks Consensus Estimate for ACGL’s second-quarter revenues is pegged at $4.59 billion, indicating a 3.5% decline from the year-ago quarter’s reported figure.

The consensus estimate for earnings is pegged at $2.46 per share. The Zacks Consensus Estimate for ACGL’s second-quarter earnings has moved north 1 cent in the last seven days. The estimate suggests a year-over-year decrease of 4.6%.

What the Zacks Model Unveils for ACGLOur proven model does not predict an earnings beat for Arch Capital this time around. A stock needs to have the right combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). This is not the case, as you can see below:

Earnings ESP: Arch Capital has an Earnings ESP of -1.56% at present. This is because the Most Accurate Estimate of $2.43 per share is pegged lower than the Zacks Consensus Estimate of $2.46. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Arch Capital currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Factors Likely to Shape ACGL’s Q2 ResultsRate increases, new business opportunities, growth in existing accounts, strong underwriting performance, portfolio optimization and continued contributions from the Allianz MidCorp acquisition are expected to have supported net premiums earned. However, softer property catastrophe reinsurance pricing and lower premiums resulting from the non-renewal of underperforming business are likely to have limited premium growth.  The Zacks Consensus Estimate for net premiums earned is pegged at $4.14 billion. We expect net premiums earned to have decreased 3.6% to $4.18 billion.

The Mortgage segment is expected to have faced pressure from lower gross premiums written and Bellemeade Re tender offer expenses, although strong credit performance, low delinquencies and growth in non-GSE transactions are likely to have provided support.

Net investment income is likely to have benefited from a larger invested asset base, driven by solid operating cash flows and elevated reinvestment yields. We expect the metric to be $420.9 million. The Zacks Consensus Estimate is pegged at $423.2 million.

Expenses are expected to have increased in the to-be-reported quarter due to higher losses and loss adjustment expenses, acquisition costs, other operating expenses, amortization of intangible assets, corporate expenses and interest expenses. We expect total expenses to decrease 4.2% to $3.6 billion.

Prudent pricing in casualty and specialty lines, disciplined underwriting and favorable prior-year reserve development are expected to have supported underwriting profitability and the combined ratio. However, elevated catastrophe losses from severe weather events are likely to have partially offset these benefits. The Zacks Consensus Estimate for the combined ratio is pegged at 84, and our estimate is pinned at 84.8.

Share buybacks are likely to have added upside to the bottom line.

Stocks to ConsiderHere are three other P&C insurance stocks that you may want to consider, as our model shows that have the right combination of elements to post an earnings beat:

Cincinnati Financial Corporation (CINF - Free Report) has an Earnings ESP of +8.84% and a Zacks Rank #2 at present. The Zacks Consensus Estimate for second-quarter 2026 earnings is pegged at $1.77 per share, indicating a year-over-year decrease of 7.6%.

CINF’s earnings beat estimates in each of the last four reported quarters.

The Allstate Corporation (ALL - Free Report) has an Earnings ESP of +23.32% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for second-quarter 2026 earnings is pegged at $4.92 per share, indicating a year-over-year decrease of 17.1%.

ALL’s earnings beat estimates in each of the last four reported quarters.

Axis Capital Holding Limited (AXS - Free Report) has an Earnings ESP of +3.82% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for second-quarter 2026 earnings is pegged at $3.23 per share, indicating a year-over-year decrease of 1.8%.

AXS’s earnings beat estimates in each of the last four reported quarters.

HomeStock IdeasQuick Picks & Lists

SummaryThe Ariel Small/Mid Cap Value Composite rose +15.08% gross of fees (+14.95% net of fees) in the quarter, falling short of both the Russell 2500 Value Index's +18.50% return and the +20.26% gain posted by the Russell 2500 Index.Live entertainment, media, and technology company, Sphere Entertainment Co. was the top contributor during the quarter on solid earnings and improving operating fundamentals.Shares of Prestige Consumer Healthcare moved lower following disappointing earnings, driven primarily by ongoing supply constraints in its eye care segment and extended lead times in the Middle East.We exited specialty cutting tool insert maker, Kennametal, Inc. on valuation as well as Paramount Skydance Corporation as the name approached our estimate of private market value. Khanchit Khirisutchalual/iStock via Getty Images

The following segment was excerpted from Ariel Small/Mid Cap Value Q2 2026 Commentary.

Live entertainment, media, and technology company, Sphere Entertainment Co. (SPHR) was the top contributor during the quarter on solid earnings and

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Earnings And Revenue Top EstimatesAdjusted earnings rose to $3.12 per share, beating the analyst consensus estimate of $2.83. Revenue increased 10.2% year over year to $3.043 billion, ahead of the $2.973 billion consensus estimate. Consolidated organic revenue grew 10%.

Adjusted operating income climbed 7.8% to $502 million.

Quest Diagnostics’ second-quarter results showed growth across every major customer channel, with strong demand from physicians, hospitals and consumers driving a 10% increase in organic revenue.

Management also highlighted robust momentum in preventive healthcare, saying its consumer wellness business continued to expand as more people sought health screening and diagnostic tests, reinforcing the company’s long-term growth strategy.

Quest Diagnostics Sees Broad-Based Volume GrowthTotal requisition volume increased 13.1% from a year earlier, while organic volume rose 13%, driven by broad clinical demand from physicians, hospitals and consumers, as well as higher testing volumes from collaborations with Corewell Health and Fresenius Medical Care.

The Corewell Health and Fresenius relationships contributed about 9% of total volume during the quarter. Excluding those partnerships, requisition volume increased 4.1%.

Revenue per requisition declined 2.8% year over year, reflecting the business mix from the two partnerships. Excluding that impact, revenue per requisition increased 2.9%, primarily due to a higher number of tests per requisition. Unit price reimbursement was flat from a year earlier, in line with company expectations.

Quest Diagnostics Raises Full-Year Outlook“With strong growth and sustained demand for our diagnostic insights, we are again raising our full-year guidance,” Chairman, President and CEO Jim Davis said.

Quest Diagnostics raised its fiscal 2026 adjusted earnings guidance to $11.05 to $11.25 per share, up from its previous forecast of $10.63 to $10.83, and above the Wall Street consensus estimate of $10.76.

The company also increased its full-year revenue outlook to $11.95 billion to $12.05 billion, from a prior range of $11.78 billion to $11.90 billion. The updated forecast exceeds the analyst consensus estimate of $11.851 billion.

DGX Price Action: Quest Diagnostics shares were up 6.14% at $222.71 at the time of publication on Thursday. The stock is trading at a new 52-week high, according to Benzinga Pro data.

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Myriad Genetics Sees Stock Surge with Hereditary Cancer TestsQuest Diagnostics NYSE: DGX reported double-digit revenue growth and raised its full-year 2026 outlook after what executives described as strong demand across its physician, hospital and consumer channels, as well as increased volume from major collaborations with Corewell Health and Fresenius Medical Care.

On the company’s second-quarter earnings call, Chairman, Chief Executive Officer and President Jim Davis said Quest grew revenue by more than 10% in the quarter, driven by “broad clinical demand from physicians, hospitals, and consumers” and higher volume tied to the Corewell and Fresenius relationships. Chief Financial Officer Sam Samad said consolidated revenue was $3.04 billion, up 10.2% from the prior year, while consolidated organic revenue rose 10%.

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LifeMD Shares Come Back to Life on GLP-1 Business Growth Total volume, measured by requisitions, increased 13.1% compared with the second quarter of 2025, including 13% organic volume growth. Samad said the Corewell Health and Fresenius Medical Care relationships contributed 9% to volume in the quarter. Excluding those two relationships, volumes rose 4.1%.

Reported operating income was $459 million, or 15.1% of revenue, compared with $438 million, or 15.9% of revenue, a year earlier. Adjusted operating income was $502 million, or 16.5% of revenue, compared with $466 million, or 16.9% of revenue, last year. Samad said the increase in adjusted operating income reflected organic revenue growth, partially offset by wage increases.

Exact Sciences Serves Investors Exactly What They Wished For Reported diluted earnings per share were $2.84, compared with $2.47 a year earlier. Adjusted diluted EPS was $3.12, up from $2.62 in the prior-year period. Samad said the EPS improvement was driven by organic operating performance and the favorable resolution of various tax contingencies, which contributed $0.10 per share in the quarter. Excluding that one-time tax benefit, adjusted EPS grew 15.3%.

Company Raises 2026 Guidance Quest raised its full-year 2026 revenue and earnings outlook, citing first-half performance and ongoing demand. The company now expects:

Revenue of $11.95 billion to $12.05 billion, representing growth of 8.3% to 9.2%. Reported EPS of $9.97 to $10.17. Adjusted EPS of $11.05 to $11.25. Cash from operations of approximately $1.8 billion. Capital expenditures of approximately $550 million. Samad said the guidance excludes any contribution from prospective mergers and acquisitions. He also noted that Project Nova expenses are unchanged for the full year, but the company now expects increased spending in the second half compared with prior expectations. Higher fuel costs in the second half are also included in the outlook.

Despite those pressures, Samad said Quest still expects operating margin to expand versus the prior year. He said the company expects to lap the Corewell and Fresenius impacts in the fourth quarter, reducing their dilutive effect on total operating margins in the second half.

Physician, Hospital and Consumer Channels Drive Growth Davis said the physician channel delivered high single-digit revenue growth during the quarter, supported by demand for clinical innovations, new customer wins and expanded business with existing customers. He cited growth in geographies where Quest has expanded access through health plans and acquisitions, as well as enterprise accounts focused on prevention and wellness.

In hospitals, Davis said revenue grew at a double-digit rate, primarily from co-lab solutions with Corewell Health in Michigan. Reference testing revenue also increased versus both the first quarter and the prior year. During the question-and-answer portion of the call, Davis said the company’s core hospital reference business generated mid-single-digit revenue growth, with slightly higher volume growth. He said same-store sales in co-lab arrangements excluding Corewell also grew at a mid-single-digit rate.

Davis said Quest formed a new co-lab agreement during the quarter with a nonprofit regional health system in California. He added that the company has a “strong pipeline” of potential hospital collaborations, hospital outreach acquisitions and independent lab opportunities.

In consumer health, Davis said questhealth.com continued to generate “robust revenue growth,” with strong demand for existing wellness panels and new services including thyroid testing. He said the broader consumer business, which includes direct and indirect offerings, was previously sized at about $250 million and is currently growing toward the high end of the company’s 20% to 30% expectation for 2027.

Advanced Diagnostics and Automation Highlighted Davis said Quest posted double-digit revenue growth across several advanced diagnostic areas, including cardiometabolic testing such as ApoB and Lp(a), liver fibrosis testing and autoimmune testing through the company’s analyzer solution. In brain health, he said the company continued to drive “robust double-digit growth” across its AD-Detect blood tests, including amyloid beta and p-tau biomarkers.

In oncology, Davis highlighted New York State approval of the Haystack MRD test, which he said allows Quest to extend commercial efforts to all 50 states. He also said Quest became the largest reference lab to extend access to cancer tests such as Haystack MRD through Flatiron Health’s OncoEMR molecular profiling integration platform. A pilot with American Oncology Network has begun, with plans to roll out to Flatiron’s 4,700 clinicians and other providers nationwide later this year.

Davis also discussed operational initiatives, saying Quest remains on track to deliver 3% in annual cost savings and productivity improvements through its Invigorate program. He pointed to expanded use of automation and artificial intelligence, including Hologic’s Genius Digital Diagnostics System for Pap test slide review, front-end specimen processing automation, a web-based collection tool called IntelliDraw and an AI tool intended to reduce the time needed to track and order supplies at patient service centers.

Executives Address Reimbursement, Bad Debt and PAMA Asked about Affordable Care Act exchange-related impacts, Davis said Quest continues to assume a 30-basis-point revenue impact from the expiration of ACA exchange subsidies. He said enrollment declines have not translated into a major business impact, noting that requisition volume in that book is down about 8%, but tests per requisition are up 6%, leaving test volume down about 2% and revenue “relatively flat.”

Executives also said they are not seeing deterioration in bad debt trends. Samad said hospital collections remain in line with expectations and that patient concessions, which he said typically hover around 5% of revenue, have not worsened and were slightly improved versus the prior-year quarter.

On PAMA, Davis outlined three possible outcomes: new CMS rates following the current data collection process, passage of the RESULTS Act, or another delay. He said Quest supports the RESULTS Act, which he described as a better method for collecting market data through a third-party approach. Davis said the bill has more than 115 co-sponsors and broad support from patient and consumer organizations. If the RESULTS Act passes, he said rates would stay flat for 2027 and 2028, with new rates taking effect in 2029 and annual cuts capped at no more than 5%.

Davis closed the call by saying Quest entered the second half with growth momentum and continued demand for lab insights, while remaining focused on its strategy of connecting patients and providers to testing and actionable health information.

About Quest Diagnostics (NYSE:DGX)Quest Diagnostics NYSE: DGX is a leading provider of diagnostic information services that supports clinical decision-making for patients, physicians and healthcare organizations. The company operates a network of clinical laboratories and patient service centers that perform a broad range of laboratory tests and diagnostic assays used in routine care, disease diagnosis, monitoring and screening.

Its services span core clinical laboratory testing, anatomic pathology, molecular and genomic diagnostics, infectious disease testing and toxicology.

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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July 23, 2026 15:30 ET  | Source: Progyny, Inc.

NEW YORK, July 23, 2026 (GLOBE NEWSWIRE) -- Progyny, Inc. (Nasdaq: PGNY), a global leader in women’s health and family building solutions, will report its financial results for the quarterly period ended June 30, 2026 after the close of the market on Thursday, August 6, 2026.

The company will host a conference call at 4:45 p.m. Eastern Time (1:45 p.m. Pacific Time) and issue a press release regarding its financial results prior to the start of the call.

Interested participants in the United States may access the conference call by dialing 1.866.825.7331 and using the passcode 265484. International participants may access the call by dialing 1.973.413.6106 and using the same passcode.

An audio replay of the call will be available through Thursday, August 13, 2026 and may be accessed by dialing 1.800.332.6854 (U.S. participants) or 1.973.528.0005 (international participants) with the passcode 265484.

A live webcast and archive of the call will be available from the Events and Presentations section of the Company’s website at http://investors.progyny.com.

About Progyny

Progyny (Nasdaq: PGNY) is a global leader in women's health and family building solutions, trusted by the nation's leading employers, health plans and benefit purchasers. We envision a world where everyone can realize their dreams of family and ideal health. Our outcomes prove that comprehensive, inclusive and intentionally designed solutions simultaneously benefit employers, patients, and physicians.

Our benefits solution empowers patients with concierge support, coaching, education, and digital tools; provides access to a premier network of fertility and women's health specialists who use the latest science and technologies; drives optimal clinical outcomes; and reduces healthcare costs.

Headquartered in New York City, Progyny has been recognized for its leadership and growth as a TIME100 Most Influential Company, CNBC Disruptor 50, Modern Healthcare’s Best Places to Work in Healthcare, Forbes' Best Employers, Financial Times Fastest Growing Companies, INC. 5000, INC. Power Partners and Crain’s Fast 50 for NYC. For more information, visit www.progyny.com.

For Further Information, Please Contact:
Investors:
James Hart
[email protected]

Media:
Alexis Ford
[email protected]

Cleveland-Cliffs Inc. (CLF) Q2 2026 Earnings Call Transcript

Amnon Shashua is stepping down as CEO of Mobileye, after 27 years leading the autonomous driving pioneer. The news comes as the company released its second quarter earnings earlier today, beating analyst estimates with reported revenue of $508 million.

If you've been tracking NuScale Power (SMR +1.32%), you witnessed a red-hot narrative crashing into a wall of reality over the last few months. Shares of the nuclear energy start-up crashed in the last quarter of 2025 and continued their downward slide into 2026, losing 29.2% value in the first half of the year, according to data provided by S&P Global Market Intelligence.

President Donald Trump aims to quadruple U.S. nuclear energy capacity to 400 gigawatts by 2050. Because building a traditional nuclear reactor takes years even as power demand has hit unprecedented levels amid the artificial intelligence (AI) data center boom, the government is also supporting small modular reactors (SMRs).

NuScale's SMR design is already approved by the U.S. Nuclear Regulatory Commission, and the company has begun manufacturing its first patented 77-megawatt carbon-free modules.

The problem? NuScale hasn't built a reactor yet. As that reality set in, investors ran for the exit. Here is how the fallout unfolded.

Image source: Getty Images.

Whu NuScale Power stock derailed In early 2026, TD Cowen analyst Marc Bianchi raised alarm bells, warning that NuScale's flagship project in Romania could be delayed until 2034.

NuScale's fourth-quarter earnings report delivered another blow: a massive $507.4 million milestone payment to ENTRA1 Energy, its exclusive commercialization partner. Under the agreement, NuScale owes ENTRA1 fees for its nuclear product developments without guaranteed revenues.

With the company's operating loss surging nearly fivefold to $690 million during the quarter, analysts slashed their price targets on NuScale stock while some disgruntled investors filed class action lawsuits, alleging misrepresentation of ENTRA1 Energy's capabilities and arrangement.

To make matters worse, NuScale's largest shareholder, Fluor, aggressively offloaded its position and exited NuScale completely by April 2026, pocketing $2.4 billion in proceeds. Watching an anchor insider walk away shattered whatever little remained of retail confidence.

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NuScale's first quarter offered no relief. Revenue plummeted from $13.4 million in the prior-year period to a paltry $0.5 million as one-time licensing revenue dried up, while net losses nearly tripled to $44 million.

Is NuScalePower stock a buy before Aug. 5? NuScale did finish Q1 with $890 million in cash and short-term investments and zero long-term debt. But cash reserves can only buy so much time when losses are mounting, and cash burn rates remain high.

Commercial deployment is still years away, with NuScale projecting first module delivery no earlier than 2031. Moreover, although ENTRA1 has been in the headlines for a big agreement with the Tennessee Valley Authority (TVA) to deploy up to 6 GW of nuclear power with NuScale's SMR equipment, the project still lacks a long-term power purchase agreement or a finalized timeline.

NuScale will release its second-quarter numbers on Aug. 5. Expectations are muted. Until the company can transition from regulatory approvals and partnership agreements to a firm revenue-generating model, its stock will remain speculative and volatile.

Key Takeaways Expand Energy to report Q2 results on July 28, with earnings seen rising while revenues edges lower.EXE faces higher CapEx, weather disruptions and softer gas prices, but production guidance remains intact.Expand Energy may benefit from marketing gains, LNG access, hedging and efficiency improvements. Expand Energy Corporation (EXE - Free Report) is set to release second-quarter 2026 earnings on July 28. The Zacks Consensus Estimate for the to-be-reported quarter is pegged at a profit of $1.16 per share on revenues of $2.01 billion.

Let us delve into the factors that might have influenced EXE’s performance in the to-be-reported quarter. Before that, it is worth taking a look at the company’s performance in the last reported quarter.

Highlights of EXE’s Q1 Earnings & Surprise HistoryIn the first quarter, the U.S.-based natural gas producer’s adjusted earnings of $3.83 per share beat the Zacks Consensus Estimate of $3.69, driven by strong production and higher natural gas price realization. Moreover, revenues of $3.3 billion beat the Zacks Consensus Estimate of $3.1 billion.

Expand Energy’s earnings beat the consensus estimate in three of the trailing four quarters and missed in one, delivering an average surprise of 4.1%.

This is depicted in the graph below.

Trend in Estimate Revision for EXEThe Zacks Consensus Estimate for the second-quarter bottom line has remained unchanged in the past seven days. The estimated figure indicates a 5.5% year-over-year surge. However, the top-line estimate implies a 0.4% decrease from the year-ago period’s level.

Factors to Consider Ahead of EXE’s Q2 ReleaseExpand Energy's second-quarter results could face pressure from higher capital spending, as management indicated that this quarter would represent the year's peak CapEx due to increased drilling and completion activity, leasehold acquisitions and seasonal workovers, while production is expected to remain flat sequentially. The Gulf Coast also experienced weather-related disruptions that shifted spending into the quarter to be reported, potentially weighing on free cash flow. Additionally, management acknowledged exposure to softer natural gas prices, noting it could defer activity if markets weaken, while diesel inflation tied to geopolitical tensions may modestly increase operating costs.

However, on a positive note, Expand Energy could outperform expectations, supported by resilient operations, strong marketing gains and improved commercial execution. The company generated nearly $90 million from market volatility in the first quarter, expanded access to premium LNG markets through the Delfin agreement and maintained full-year production guidance. Strong hedging, stable operating costs and continued efficiency improvements could further support earnings in the quarter to be reported.

What Does Our Model Say About EXE?The proven Zacks model does not predict an earnings beat for Expand Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates. However, this is not the case here.

EXE’s Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company is -1.82%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

EXE’s Zacks Rank: Expand Energy currently carries a Zacks Rank #4 (Sell).

Stocks to ConsiderHere are some firms from the energy space that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.

ProPetro Holding Corp. (PUMP - Free Report) has an Earnings ESP of +52.38% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

ProPetro is scheduled to release earnings on July 29. The Zacks Consensus Estimate for current quarter earnings indicates year-over-year growth of about 85.7%. Valued at around $1.6 billion, PUMP’s shares have surged 122.4% in a year.

Cactus, Inc. (WHD - Free Report) has an Earnings ESP of +7.04% and a Zacks Rank #2 at present. It is scheduled to release earnings on July 29.

The Zacks Consensus Estimate for WHD’s 2026 earnings indicates year-over-year growth of about 8.6%. Valued at around $4.4 billion, WHD’s shares rose 21% in a year.

Oil States International, Inc. (OIS - Free Report) currently has an Earnings ESP of +27.27% and a Zacks Rank #3. It is scheduled to release earnings on July 30.

Notably, the Zacks Consensus Estimate for OIS’ 2026 earnings indicates year-over-year growth of about 43.2%. Valued at around $517.1 million, OIS’ shares have gained 55.3% in a year.

Key Takeaways Tractor Supply missed Q2 earnings and revenue estimates as comparable sales declined 1.5%. TSCO lowered its 2026 sales, comp and earnings outlook amid softer discretionary demand.Gross margin improved on cost management, while higher SG&A expenses pressured profitability. Tractor Supply Company (TSCO - Free Report) reported adjusted earnings of 81 cents per share for the second quarter of 2026, unchanged from the year-ago period. The metric lagged the Zacks Consensus Estimate of 83 cents.

Net sales rose 2.3% year over year to $4.5 billion, driven by new stores. The top line missed the consensus mark of $4.6 billion. Comparable-store sales (comps) fell 1.5% as transaction count decreased 1.7%, partly offset by a 0.2% increase in average ticket. We had expected comps to rise 1.6% for the reported quarter.

Comps were positive in April and June, with underperformance in May contributing to the decrease in the quarter. May results were affected by weaker demand in seasonal merchandise, particularly big-ticket products, along with softer consumer spending across discretionary categories.

Although the company's consumable, usable and edible categories remained relatively resilient, the companion animal business continued to underperform the overall company, despite showing improved trends through the quarter. Strength across the balance of the company's consumable, usable and edible categories, along with an increase in digital sales, somewhat offset these headwinds.

This Zacks Rank #4 (Sell) company’s shares have lost 20.1% over the past three months compared with the industry’s 12.6% decline.

TSCO’s Margins & CostsAdjusted gross profit rose 3% year over year to $1.7 billion, while the adjusted gross margin improved 24 basis points (bps) to 37.2%. Disciplined product cost management and tariff-related benefits more than offset increased freight expenses and incremental price investments. Our model had anticipated gross profit to rise 6.5% and gross margin to expand 60 bps in the reported quarter.

Selling, general and administrative (SG&A) expenses, including depreciation, amortization and impairment, jumped 14.4% year over year to $1.2 billion. As a percentage of net sales, SG&A expenses increased 290 bps to 26.8%. On an adjusted basis, SG&A expenses increased 7.3% to $1.1 billion, or 118 bps to 25.1% as a percentage of net sales for the quarter, mainly owing to deleverage from weak comps and higher claims and legal settlement expenses. We had expected SG&A costs to increase 7.6% year over year and to rise 50 bps, as a percentage of net sales, to 21.7%.

Operating income decreased 19.2% year over year to $467.1 million. On an adjusted basis, operating income dipped 5.1% year over year to $548.3 million, translating into an adjusted margin of 12.1%. We had expected operating income to increase 5% year over year.

TSCO’s Financial HealthTractor Supply ended the quarter with cash and cash equivalents of $231.6 million, long-term debt of $2.2 billion and total stockholders’ equity of $2.6 billion. In first-half 2026, net cash provided by operating activities was $653.1 million. In the same period, the company incurred capital expenditures of $435.7 million.

During second-quarter 2026, Tractor Supply returned $260.9 million to shareholders. This included the repurchase of 3.9 million shares of its common stock for $135.3 million and the payment of $125.6 million in quarterly cash dividends.

It opened 28 Tractor Supply stores and three new Petsense by Tractor Supply stores in the reported quarter.

Tractor Supply Updates 2026 OutlookManagement now expects 2026 net sales growth of 2.5-3.5%, with comps ranging from a 1% decline to flat. The reported operating margin is projected between 8% and 8.3%, while the adjusted rate is expected at 8.5-8.8%. It had earlier projected net sales growth of 4-6% and comps growth of 1-3% for 2026.

Adjusted net income is forecast between $990 million and $1.1 billion, with adjusted earnings anticipated at $1.90-$2.00 per share. Tractor Supply also withdrew the long-term financial framework presented at its December 2024 Investor Day and plans to issue an updated framework with its fourth-quarter results. Management had earlier guided operating margin between 9.3% and 9.6% and net income of $1.1-$1.2 billion, with earnings per share anticipated to be $2.13-$2.23.

3 Retail Picks You Can’t MissWe have highlighted three better-ranked stocks, namely Genesco Inc. (GCO - Free Report) , Designer Brands Inc. (DBI - Free Report) and Levi Strauss & Co. (LEVI - Free Report) .

Genesco, a footwear and accessories dealer, currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Genesco’s current financial-year EPS indicates growth of 55.2% from the year-ago figure. GCO delivered an average earnings surprise of 3.8% in the trailing four quarters.

Designer Brands, designer and producer of footwear and accessories, currently carries a Zacks Rank #2 (Buy). The company delivered a trailing four-quarter earnings surprise of 112.8%, on average.

The Zacks Consensus Estimate for Designer Brands’ current financial-year sales indicates growth of 0.5% from the year-ago figure.

Levi Strauss, designer and marketer of jeans, casual wear and related accessories, currently has a Zacks Rank of 2. LEVI delivered an average earnings surprise of 11.3% in the trailing four quarters.

The consensus estimate for Levi Strauss’ current financial-year sales indicates growth of 6.4% from the year-ago figure.

Tractor Supply Company (TSCO) Q2 2026 Earnings Call July 23, 2026 10:00 AM EDT

Company Participants

Mary Pilkington - Senior Vice President of Investor Relations & Public Relations
Harry Lawton - President, CEO & Director
Kurt Barton - Executive VP, CFO & Treasurer
Seth Estep - Executive VP & Chief Merchandising Officer

Conference Call Participants

Steven Forbes - Guggenheim Securities, LLC, Research Division
Steven Zaccone - Citigroup Inc., Research Division
Jonathan Matuszewski - Jefferies LLC, Research Division
Zachary Fadem - Wells Fargo Securities, LLC, Research Division
Michael Lasser - UBS Investment Bank, Research Division
Spencer Hanus - Wolfe Research, LLC
Charles Grom - Gordon Haskett Research Advisors
Jeffrey Lick - Stephens Inc., Research Division
Peter Benedict - Robert W. Baird & Co. Incorporated, Research Division
Katharine McShane - Goldman Sachs Group, Inc., Research Division

Presentation

Operator

Good morning, ladies and gentlemen, and welcome to Tractor Supply Company's conference call to discuss second quarter 2026 results. [Operator Instructions] Please be advised that reproduction of this call in whole or in part is not permitted without written authorization of Tractor Supply Company. And as a reminder, this call is being recorded. I would now like to introduce your host for today's call, Mary Winn Pilkington, Senior Vice President of Investor and Public Relations for Tractor Supply Company. Mary Winn, please go ahead.

Mary Pilkington
Senior Vice President of Investor Relations & Public Relations

Thank you, operator. Good morning, everyone. We appreciate your time and participation in today's call. On the call today, participating in prepared remarks are Hal Lawton, our Chief Executive Officer; and Kurt Barton, our Chief Financial Officer. We will also have Seth Estep, EVP and Chief Merchant; Rob Mills, EVP of Digital, IT and Pet Services; John Ordus, EVP and Chief Stores Officer; and Craig Ledbetter, our SVP and Chief Supply Chain Officer, join the call for the Q&A portion.

Ucore Rare Metals Inc. is a speculative rare earth processing technology company rated as a hold, with significant volatility and early-stage projects. UURAF's value proposition centers on its Alaskan Bokan-Dotson Ridge project and patent-pending RapidSX REE separation technology, both still in development. Chinese dominance in rare earths is declining, but UURAF faces execution risk, patent uncertainty, and environmental regulatory challenges.

RELX PLC (RELX) Q2 2026 Earnings Call Transcript