Perrigo press release ( PRGO ): Q1 Non-GAAP EPS of $0.43 beats by $0.12 . Revenue of $969M (-6.8% Y/Y) misses by $71M . Core net sales were $842 million, declining 8.3% year over year, while Core organic net sales decreased 11.0%. Core adjusted operating margin decreased 110 basis points to 12.8%. Maintained full‑year 2026 outlook with continued expectation for second half improvement. All In Ex I...
Perrigo press release ( PRGO ): Q1 Non-GAAP EPS of $0.43 beats by $0.12 . Revenue of $969M (-6.8% Y/Y) misses by $71M . Core net sales were $842 million, declining 8.3% year over year, while Core organic net sales decreased 11.0%. Core adjusted operating margin decreased 110 basis points to 12.8%. Maintained full‑year 2026 outlook with continued expectation for second half improvement. All In Ex InfantFormula Ex Divestitures Core ForeignCurrency OrganicCore Net Sales Growth (5.5)% to (1.5)% vs. estimated growth of -3.51%Y/Y — ~270 bps (3.0)% to +1.0% (0.5) % (3.5)% to +0.5% Adj. Gross Margin 36.5% to 37.5% ~240 bps ~(10) bps 39.0% to 40.0% Adj. Operating Margin 12.5% to 13.5% ~260 bps ~(10) bps 15.0% to 16.0% Adj. EPS $2.00 to $2.30 vs. $2.11 consensus ~$0.30 ~$(0.05) $2.25 to $2.55 Click to enlarge Other assumptions Net interest expense of approximately $156 million. Adjusted effective tax rate of approximately 20.0%. Adjusted weighted average shares outstanding of approximately 140.5 million. Net leverage of, or slightly lower than, approximately 4.0 times adjusted EBITDA. Cash from operating activities as a percentage of adjusted net income in the mid-60% range. More on Perrigo Perrigo: Positioning Through A Thesis Reset Perrigo: Double-Digit Dividend At A Bargain Price UBS Global Consumer and Retail Conference Perrigo Q1 2026 Earnings Preview FDA says largest ever baby formula probe found U.S. supplies are safe
BorgWarner press release ( BWA ): Q1 Non-GAAP EPS of $1.24 beats by $0.07 . Revenue of $3.53B (+0.3% Y/Y) beats by $30M . BorgWarner's (the "Company") U.S. GAAP net sales increased approximately 1%, while organic net sales decreased approximately 4.2%, year-over-year compared with the first quarter of 2025. Excluding the decline in Battery Energy Systems segment sales, this performance was roughly...
BorgWarner press release ( BWA ): Q1 Non-GAAP EPS of $1.24 beats by $0.07 . Revenue of $3.53B (+0.3% Y/Y) beats by $30M . BorgWarner's (the "Company") U.S. GAAP net sales increased approximately 1%, while organic net sales decreased approximately 4.2%, year-over-year compared with the first quarter of 2025. Excluding the decline in Battery Energy Systems segment sales, this performance was roughly in line with the Company's weighted light vehicle markets. The Company maintained its 2026 full year guidance. At the mid-point of its 2026 guidance, BorgWarner expects to deliver another year of adjusted operating margin improvement and adjusted earnings per share growth despite the Company's expectation that its weighted light vehicle markets will be down 3% to approximately flat and a decline in the Company's Battery Energy Systems segment sales. Net sales are expected to be in the range of $14.0 billion to $14.3 billion in 2026, compared with 2025 net sales of approximately $14.3 billion vs $14.18B consensus The Company's net sales guidance implies a year-over-year change in organic net sales of down 3.5% to down 1.5%. The Company's net sales guidance includes an expected year-over-year sales decline of approximately $210 million in the Company's Battery Energy Systems segment, which represents approximately a 1.5% headwind to organic growth in 2026. Foreign currencies are expected to result in a year-over-year increase in sales of approximately $200 million primarily due to the strengthening of the Euro and Chinese Renminbi against the U.S. dollar. U.S. GAAP operating margin is expected to be in the range of 9.7% to 9.9% in 2026. Excluding the impact of non-comparable items and the add back of intangible asset amortization expense, adjusted operating margin is expected to be in the range of 10.7% to 10.9%. U.S. GAAP net earnings are expected to be within the range of $4.70 to $4.87 per diluted share. Excluding the impact of non-comparable items, adjusted net earnings ...
CVS Health Corp. raised its earnings outlook for the year after profit and revenue in the first quarter exceeded analyst expectations, the latest in a string of positive reports from US health conglomerates. The company increased its outlook for 2026 adjusted earnings to $7.30 to $7.50 a share, it said in a statement Wednesday. The 30-cent increase puts the new range above Wall Street estimates. C...
CVS Health Corp. raised its earnings outlook for the year after profit and revenue in the first quarter exceeded analyst expectations, the latest in a string of positive reports from US health conglomerates. The company increased its outlook for 2026 adjusted earnings to $7.30 to $7.50 a share, it said in a statement Wednesday. The 30-cent increase puts the new range above Wall Street estimates. CVS shares rose 4.7% in pre-market trading in New York. They had risen 1.7% this year through Tuesday’s close, compared to a 6% gain in the S&P 500 Index. The company, which includes a retail pharmacy, an insurer and a pharmacy benefits manager, followed every major competitor in projecting optimism for the year after a challenging 2025. Health insurance companies have been raising prices and cutting benefits for some patients, and pulling less profitable plans from the market. Most of the increase in CVS’ adjusted earnings guidance came from a benefit from the prior year’s reserves, Chief Financial Officer Brian Newman said in an interview. The company set aside more money to pay insurance claims than it ultimately needed last year, which benefits earnings this year. About 5 cents is coming from better-than-expected performance in the pharmacy business, where profitability is improving, he said. Adjusted operating income in the segment should increase 2% this year compared to last, higher than previously anticipated, he said. Adjusted earnings of $2.57 a share in the quarter surpassed all analyst estimates in a Bloomberg survey. The company’s Aetna insurance segment saw some areas of out-performance, Newman said. Aetna spent a smaller percentage of premiums on medical costs than Wall Street analysts expected. The company has been making changes over the last few years to boost profitability, Newman said. For example, Aetna installed more actuaries in key positions, adding to the company’s financial expertise in an effort to improve its ability to predict costs and price pla...
Andrzej Rostek/iStock via Getty Images Introduction I have written about RLJ Lodging Trust ( RLJ ) just once previously, though my article came almost 3 years ago . With the recent release of the company's Q1 2026 earnings , I have decided to re-evaluate the company. In my article, I explore the reasons behind my "Buy" rating for the company, as well as the potential risks that could derail my the...
Andrzej Rostek/iStock via Getty Images Introduction I have written about RLJ Lodging Trust ( RLJ ) just once previously, though my article came almost 3 years ago . With the recent release of the company's Q1 2026 earnings , I have decided to re-evaluate the company. In my article, I explore the reasons behind my "Buy" rating for the company, as well as the potential risks that could derail my thesis. Portfolio As of 31 March 2026, RLJ Lodging Trust has a portfolio of 92 hotels, comprising 20,588 rooms. It has an urban-centric portfolio, designed to capture demand across business, leisure, and group segments. Urban markets represent over two-thirds of the company's portfolio, and over 50% of its EBITDA comes from the Sunbelt markets. RLJ Mar'26 Investor Presentation Strong Q1 2026 Earnings RLJ Lodging Trust had a strong start to 2026, with increases in all key operating and financial metrics. Comparable RevPAR saw a 4.8% year-over-year increase to $148.55, driven by both a 2.1% increase in comparable ADR and a 2.6% increase in comparable occupancy. While comparable hotel revenue grew by 5.4% to $340 million, comparable non-room revenues increased by 8.2%, reflecting strong ancillary spending in food and beverage and other hotel services. Comparable hotel EBITDA increased by 7.2% to $89.9 million, while comparable hotel EBITDA margin increased by 45 basis points to 26.4%. This increase in margin was a reflection of both strong revenue growth and disciplined expense management. Adjusted Funds From Operations (AFFO) increased by 6.5%, from $0.31/share to $0.33/share, reflecting both a year-on-year increase as well as a quarter-on-quarter increase. Following the outperformance for the quarter, management raised its full-year FY 2026 guidance: RLJ Q1'26 Earnings Fortress Balance Sheet During Q1 2026, RLJ Lodging Trust completed a comprehensive refinancing of all its debt maturities through 2028. After the refinancing, the company's total debt stands at $2.2 billion, with...
Evgeny Gromov/iStock via Getty Images By Charlotte de Montpellier , Senior Economist, France and Switzerland A rebound boosted by inventories and temporary competitiveness gains As expected, French manufacturing output rebounded in March, rising by 1.2% month-on-month after a 0.1% decline in February. Total industrial production was up 1% after -0.9% in February. The increase was visible across al...
Evgeny Gromov/iStock via Getty Images By Charlotte de Montpellier , Senior Economist, France and Switzerland A rebound boosted by inventories and temporary competitiveness gains As expected, French manufacturing output rebounded in March, rising by 1.2% month-on-month after a 0.1% decline in February. Total industrial production was up 1% after -0.9% in February. The increase was visible across all branches of industry. Unsurprisingly, production rose sharply in coking and refining, up 6.3% month-on-month, reaching its highest level in seven years. However, this segment accounts for only 0.14% of total French industrial production. Year-on-year, French manufacturing output was up 1.5% in the first quarter. Given the survey data, this rebound in industrial production had been expected. Since the start of the war in the Middle East, French industries have benefited from an improvement in their competitiveness relative to Asian competitors, which have been more severely and immediately affected by disruptions to energy supplies. In addition, the risks of shortages and price increases led manufacturers to bring forward their orders and increase inventories in March, boosting production. These positive factors are likely to remain in play in April, but they are, nevertheless, temporary. On the one hand, the energy crisis is not improving, and the risk of shortages is also likely to affect Europe rapidly. The improvement in relative competitiveness could therefore come to an end quickly. Moreover, the rise in production has led to higher inventories of industrial goods, but not to higher sales. As indicated by the GDP data for the first quarter, both domestic and external demand are very weak. April survey data also point to a further deterioration in demand. Weak demand raises the risk of a second-quarter contraction While industrial production and inventory building allowed French GDP to narrowly avoid a contraction in the first quarter, the weakness in demand raises co...
Hut 8 Corp ., a cryptocurrency miner that is shifting to developing artificial intelligence data center capacity, has signed a lease worth at least $9.8 billion over 15 years to provide computing power to a “high-investment-grade company.” The data center developer declined to name the tenant for the new AI facility located at a campus called Beacon Point in Nueces County, Texas. The agreement may...
Hut 8 Corp ., a cryptocurrency miner that is shifting to developing artificial intelligence data center capacity, has signed a lease worth at least $9.8 billion over 15 years to provide computing power to a “high-investment-grade company.” The data center developer declined to name the tenant for the new AI facility located at a campus called Beacon Point in Nueces County, Texas. The agreement may rise to a value of $25.1 billion if the tenant exercises all three five-year extensions, Hut 8 said Wednesday in a statement. The Beacon Point data center is approved for as much as 1 gigawatt of electricity, which is enough to power 750,000 US homes at any one time. AEP Texas will deliver energy to the site starting in the first quarter of 2027. Hut 8 has a total of $16.8 billion in signed leases between Beacon Point and its River Bend campus in Louisiana. Both projects involve Jacobs Solutions Inc. for engineering and construction and Vertiv Holdings Co. to handle issues such as cooling the data centers. Hut 8, which reports quarterly earnings Wednesday, is a publicly traded Bitcoin miner that has been transitioning into energy and digital infrastructure. The Miami-based company owns a stake in American Bitcoin Corp., a crypto-mining firm tied to Eric Trump and Donald Trump Jr.
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Restaurant Brands press release ( QSR ): Q1 Non-GAAP EPS of $0.86 beats by $0.03 . Revenue of $2.26B (+7.1% Y/Y) beats by $20M . Consolidated system-wide sales grow 6.2% year-over-year, including 11.1% in International Comparable sales accelerated to 3.2%, including 5.8% at BK US and 5.7% at International Resumed share repurchases in March and continue to expect to repurchase $500 million in 2026....
Restaurant Brands press release ( QSR ): Q1 Non-GAAP EPS of $0.86 beats by $0.03 . Revenue of $2.26B (+7.1% Y/Y) beats by $20M . Consolidated system-wide sales grow 6.2% year-over-year, including 11.1% in International Comparable sales accelerated to 3.2%, including 5.8% at BK US and 5.7% at International Resumed share repurchases in March and continue to expect to repurchase $500 million in 2026. RBI remains on track for 8%+ organic Adjusted Operating Income growth in 2026 2026 Financial GuidanceFor 2026, RBI expects: Segment G&A (excluding RH) for 2026 between $600 million and $620 million; RH AOI of approximately $10 to $20 million; Adjusted Interest Expense, net between $500 million and $520 million; and Consolidated capital expenditures, tenant inducements and incentives (including RH), or "Total Capex and Cash Inducements" of around $400 million. More on Restaurant Brands McValue Pressure Makes Restaurant Brands International's Valuation Hard To Swallow Restaurant Brands International: Valuation Is Nearly Cooked Restaurant Brands International Inc. (QSR) Analyst/Investor Day - Slideshow Restaurant Brands Q1 2026 Earnings Preview RFK Jr. says he'd support banning junk food TV ads
More than 400 cancer patients are set to benefit from Hong Kong health authorities’ decision to subsidise a leukaemia drug, and will go from paying up to HK$500,000 (US$63,800) a year for treatment to forking out just HK$240. The Hospital Authority said on Wednesday that it began subsidising the medication, Dasatinib, in April, with the government expected to set aside an additional HK$49 million ...
More than 400 cancer patients are set to benefit from Hong Kong health authorities’ decision to subsidise a leukaemia drug, and will go from paying up to HK$500,000 (US$63,800) a year for treatment to forking out just HK$240. The Hospital Authority said on Wednesday that it began subsidising the medication, Dasatinib, in April, with the government expected to set aside an additional HK$49 million in annual spending to help cover the cost. As part of the move, Dasatinib was reclassified from a...
CVS press release ( CVS ): Q1 Non-GAAP EPS of $2.57 beats by $0.36 . Revenue of $100.4B (+6.1% Y/Y) beats by $5.38B . Raising full-year 2026 guidance: GAAP diluted EPS guidance range to $6.24 to $6.44 from $5.94 to $6.14 Adjusted EPS guidance range to $7.30 to $7.50 from $7.00 to $7.20 vs. $7.16 consensus Cash flow from operations guidance to at least $9.5 billion from at least $9.0 billion Shares...
CVS press release ( CVS ): Q1 Non-GAAP EPS of $2.57 beats by $0.36 . Revenue of $100.4B (+6.1% Y/Y) beats by $5.38B . Raising full-year 2026 guidance: GAAP diluted EPS guidance range to $6.24 to $6.44 from $5.94 to $6.14 Adjusted EPS guidance range to $7.30 to $7.50 from $7.00 to $7.20 vs. $7.16 consensus Cash flow from operations guidance to at least $9.5 billion from at least $9.0 billion Shares +3.5% PM. More on CVS CVS Health: A Diversified Income Play With Improving MA Rate Visibility For 2027 CVS Health's Discounted Buying Opportunity Is Here - Robust Fundamentals And Secure Dividends CVS Health Corporation (CVS) Presents at Leerink Global Healthcare Conference 2026 Transcript CVS earnings in focus as investors watch cost trends, margins UnitedHealth, CVS Health tout efforts to standardize prior authorizations
Lutnick has acknowledged he visited Epstein’s island with his family in 2012 after earlier claiming he severed ties in 2005 Sign up for the Breaking News US email Hello and welcome to the US politics live blog. Commerce secretary Howard Lutnick will become the latest of Donald Trump’s cabinet to be questioned over ties to the late sex offender Jeffrey Epstein when he sits for a closed-door transcr...
Lutnick has acknowledged he visited Epstein’s island with his family in 2012 after earlier claiming he severed ties in 2005 Sign up for the Breaking News US email Hello and welcome to the US politics live blog. Commerce secretary Howard Lutnick will become the latest of Donald Trump’s cabinet to be questioned over ties to the late sex offender Jeffrey Epstein when he sits for a closed-door transcribed interview with the Oversight Committee later today. A majority of Indiana Republican legislators whose opponents were backed by Donald Trump lost their primaries on Tuesday , giving the president wins in a deep-red state just months after lawmakers there rejected his redistricting plan. Of the seven Trump-endorsed challengers to state senate candidates, at least five won. More here . Democratic senator Sherrod Brown and Republican senator Jon Husted won their party’s nominations in Ohio’s primary elections , according to the Associated Press – teeing them up for what is expected to be a high-profile and expensive Senate race in November’s midterm elections. More here . Senate Republicans have released a new immigration enforcement funding package that includes a proposed $1bn that could go to security measures related to the $400m ballroom that is part of Donald Trump’s “East Wing modernization project”. More here . Marco Rubio argued the US is in a “very fortunate” position as fuel prices continue to climb nationwide amid disruption sparked by the US-Israel war on Iran. With average US fuel prices now approaching $4.50 a gallon – their highest level in four years – the US secretary of state was asked on Tuesday how long Americans should accept them at such levels. Other countries were suffering “big time”, Rubio replied. More here . Seven of the leading contenders in California’s unexpectedly dramatic race for governor faced off on the debate stage Tuesday night, with the stakes now higher because ballots are in the mail. Becerra was a top target, as expected, given h...
Recursion Pharmaceuticals press release ( RXRX ): Q1 GAAP EPS of -$0.22 beats by $0.04 . Revenue of $6.47M (-56.1% Y/Y) misses by $9.31M . Cash operating expense, excluding partnership inflows and transaction costs, for the three months ended March 31, 2026 was $85.1 million compared to $120.2 million for the three months ended March 31, 2025. Cash, cash equivalents and restricted cash were $665.2...
Recursion Pharmaceuticals press release ( RXRX ): Q1 GAAP EPS of -$0.22 beats by $0.04 . Revenue of $6.47M (-56.1% Y/Y) misses by $9.31M . Cash operating expense, excluding partnership inflows and transaction costs, for the three months ended March 31, 2026 was $85.1 million compared to $120.2 million for the three months ended March 31, 2025. Cash, cash equivalents and restricted cash were $665.2 million as of March 31, 2026 compared to $753.9 million as of December 31, 2025. Based on current operating plans and with no additional financing, the Company continues to expect its cash runway to extend into early 2028. Disciplined capital execution: Reiterate 2026 guidance of <$390 million operational cash burn, supporting runway into early 2028 without additional financing. More on Recursion Pharmaceuticals Recursion: No Longer An AI 'Pet Science Project,' But Still A 'Sell' Recursion Pharmaceuticals May Be Losing Ground To Its Peers Recursion Pharmaceuticals, Inc. (RXRX) Presents at 25th Annual Needham Virtual Healthcare Conference Transcript Recursion Pharmaceuticals Q1 2026 Earnings Preview Most and least shorted healthcare stocks with up to $2B market cap in May
Cencora press release ( COR ): Q2 Non-GAAP EPS of $4.75 beats by $0.02 . Revenue of $78.4B (+3.9% Y/Y) misses by $2.64B . Adjusted Diluted EPS Guidance Range Raised to $17.65 to $17.90 for Fiscal 2026 (v.s consensus of $17.61) Cencora Expects to Repurchase $1 Billion in Shares by the End of Calendar 2026 More on Cencora All Eyes On Cencora, A Healthcare Supplier That Could See Lots More Upside Cen...
Cencora press release ( COR ): Q2 Non-GAAP EPS of $4.75 beats by $0.02 . Revenue of $78.4B (+3.9% Y/Y) misses by $2.64B . Adjusted Diluted EPS Guidance Range Raised to $17.65 to $17.90 for Fiscal 2026 (v.s consensus of $17.61) Cencora Expects to Repurchase $1 Billion in Shares by the End of Calendar 2026 More on Cencora All Eyes On Cencora, A Healthcare Supplier That Could See Lots More Upside Cencora, Inc. (COR) Presents at Leerink Global Healthcare Conference 2026 Transcript Cencora, Inc. (COR) Presents at Barclays 28th Annual Global Healthcare Conference Transcript Cencora Q2 2026 Earnings Preview Cencora to buy EyeSouth Partners’ retina business for $1.1B
Apollo Global Management press release ( APO ): Q1 Non-GAAP EPS of $1.94 beats by $0.06 . Record FRE of $728 million representing year-over-year growth of 30%, driven by record quarterly fee related revenue and marginexpansion Total AUM surpassed the trillion-dollar milestone, reaching $1.03 trillion, benefitting from record total inflows of $115 billion in thefirst quarter and $300 billion over t...
Apollo Global Management press release ( APO ): Q1 Non-GAAP EPS of $1.94 beats by $0.06 . Record FRE of $728 million representing year-over-year growth of 30%, driven by record quarterly fee related revenue and marginexpansion Total AUM surpassed the trillion-dollar milestone, reaching $1.03 trillion, benefitting from record total inflows of $115 billion in thefirst quarter and $300 billion over the last twelve months, driving a 31% increase year-over-year More on Apollo Global Management Apollo's Private Credit Infrastructure Is Heavily Discounted Apollo Global: I'm Downgrading To Buy Ahead Of A Tougher Q1 Apollo Global Management, Inc. (APO) M&A Call Transcript Apollo Global Management Q1 2026 Earnings Preview Apollo seeks to get up to $770M for its ADT stake - report