kynny/iStock via Getty Images Durable goods orders continue impressive strength, holding near record highs even with the drop in aircraft as Motor Vehicles/Parts and Mfg Machinery were revised higher. Both Motor Vehicles/Parts and Mfg Machinery posted record highs as tariff policies resulted in factory builds on US soil after a period of strong reshoring activity post-COVID. Economic trends favor ...
kynny/iStock via Getty Images Durable goods orders continue impressive strength, holding near record highs even with the drop in aircraft as Motor Vehicles/Parts and Mfg Machinery were revised higher. Both Motor Vehicles/Parts and Mfg Machinery posted record highs as tariff policies resulted in factory builds on US soil after a period of strong reshoring activity post-COVID. Economic trends favor industrials and related issues. The Light Weight Vehicle cycle at 16 million SAAR remains below prior growth periods in which 17.5-18 million SAAR was routine at far lower population levels. I expect at some point that we are likely to see month reporting near 20 million SAAR. Toyota ( TM ), the #2 brand in the US, remains in very tight supply at less than 30 days of inventory to sales, as many others still have 2024-year vehicles on their lots. My favorite in this space remains Cooper-Standard Holdings ( CPS ), priced 0.19x Price/Sales with a 2yr expectation of 1.0x valuation once investors reprice CPS’s fundamentals. However, 2.0x 3-4 years out dependent on management’s M&A activity is possible. Original Post Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.
Sotera Health (NASDAQ:SHC) offers sterilization and lab testing for healthcare and life sciences clients, supporting global regulatory compliance. Broyhill Asset Management, LLC disclosed a buy of Sotera Health, adding 252,588 shares in the first quarter. The estimated transaction value, based on average quarterly pricing, was $4.19 million, according to the firm’s SEC filing dated May 06, 2026. A...
Sotera Health (NASDAQ:SHC) offers sterilization and lab testing for healthcare and life sciences clients, supporting global regulatory compliance. Broyhill Asset Management, LLC disclosed a buy of Sotera Health, adding 252,588 shares in the first quarter. The estimated transaction value, based on average quarterly pricing, was $4.19 million, according to the firm’s SEC filing dated May 06, 2026. According to an SEC filing dated May 06, 2026, Broyhill Asset Management, LLC bought 252,588 additional shares of Sotera Health (NASDAQ:SHC) in the first quarter of 2026. The estimated value of this transaction was $4.19 million, calculated using the mean unadjusted close for the quarter. The quarter-end value of the SHC position rose by $3.53 million, reflecting both the share increase and underlying stock price appreciation. Continue reading
Earnings Call Insights: Acushnet Holdings Corp. (GOLF) Q1 2026 Management View “Acushnet delivered worldwide net sales of $753 million, a 5% constant currency increase over last year. Adjusted EBITDA was $145 million in the first quarter, an increase of $6 million year-over-year.” (President, CEO & Director David Maher) “Titleist Golf Equipment sales increased 7% in the quarter” and “Q1 sales were...
Earnings Call Insights: Acushnet Holdings Corp. (GOLF) Q1 2026 Management View “Acushnet delivered worldwide net sales of $753 million, a 5% constant currency increase over last year. Adjusted EBITDA was $145 million in the first quarter, an increase of $6 million year-over-year.” (President, CEO & Director David Maher) “Titleist Golf Equipment sales increased 7% in the quarter” and “Q1 sales were up 8%” for Golf Gear, while “FJ sales were down 1% in the quarter” as FootJoy “operate[s] an increasingly productive business with greater focus on premium franchises and fewer offerings at lower price points.” (President, CEO & Director Maher) “We will be launching new Titleist GTS drivers and fairway metals in the second quarter... a favorable transition from our customary Q3 launch window... we are preparing for the global market launch on June 11.” (President, CEO & Director Maher) “Gross profit in the first quarter of $355 million was up $18 million... partially offset by higher tariff costs of $17 million year-over-year.” (Executive VP & CFO Sean Sullivan) Outlook “We are maintaining our full year outlook and continue to expect full year 2026 net sales to be in the range of $2,625 million and $2,675 million and adjusted EBITDA to be in the range of $415 million to $435 million.” (Executive VP & CFO Sullivan) “On calendarization... we now expect reported first half net sales and adjusted EBITDA to be closer to the high end of our previous range of up mid- to high single digits.” (Executive VP & CFO Sullivan) On tariffs, management reiterated uncertainty while signaling offsetting pressures: “we previously cited a $70 million full year impact” but “these changes to the tariff rate environment could be favorable in 2026,” while “the potential benefits... will be largely offset by higher product costs due to rising commodity prices and related raw material input and freight costs.” (Executive VP & CFO Sullivan) Financial Results “Gross margin was 47.2% in the quarter, do...
Earnings Call Insights: ITT Inc. (ITT) Q1 2026 Management view "In Q1, we demonstrated solid momentum across the portfolio, thanks to the disciplined execution and the tangible benefits of our M&A strategy." (CEO, President & Director Luca Savi) "We grew orders 26% and 8% organically. We grew revenue 33% and 11% organically. We expanded margin by 130 basis points and we delivered 25% adjusted EPS ...
Earnings Call Insights: ITT Inc. (ITT) Q1 2026 Management view "In Q1, we demonstrated solid momentum across the portfolio, thanks to the disciplined execution and the tangible benefits of our M&A strategy." (CEO, President & Director Luca Savi) "We grew orders 26% and 8% organically. We grew revenue 33% and 11% organically. We expanded margin by 130 basis points and we delivered 25% adjusted EPS growth." (CEO, President & Director Savi) "I'm also encouraged by SPX FLOW's strong start. In month 1, we already produced net earnings, cash accretion and promising top line growth." (CEO, President & Director Savi) "On March 2, we closed the SPX FLOW acquisition, 1 month ahead of schedule and with a leverage ratio comfortably below 3 at 2.7." (CEO, President & Director Savi) "When it comes to synergies, the Flow Technologies team has been hard at work identifying and implementing actions to secure the $80 million cost of synergies." (CEO, President & Director Savi) "In March, we also deployed $100 million towards share repurchases." (CEO, President & Director Savi) "Our teams delivered $1.2 billion in revenue, up 33% in total and 11% organically." (Senior VP & CFO Emmanuel Caprais) "EPS of $1.98 on the new basis was up an outstanding 25% versus the prior year." (Senior VP & CFO Caprais) "Before opening the line for Q&A... Emmanuel... will be leaving the company." (CEO, President & Director Savi) "Mike Savinelli... has been appointed to serve as interim CFO." (CEO, President & Director Savi) Outlook "Today, we initiate on the new basis, our full year adjusted EPS guidance with a range of $7.70 to $8, up 9% at the midpoint." (CEO, President & Director Luca Savi) "We're guiding to 37% revenue growth and 5% organic growth at the midpoint... and we expect SPX FLOW to contribute low-teens net adjusted EPS accretion." (CEO, President & Director Savi) "We expect to deliver roughly 70 basis points of margin expansion to approximately 20% at the midpoint... Cost synergies are expec...
Tony Anderson/DigitalVision via Getty Images For the 4th year in a row: Normal-ish mortgage rates, too-high prices, and the “lock-in effect” from the Fed’s reckless interest rate repression. Late last year and early this year, the story was that dropping mortgage rates, powered by big rate cuts from the Fed, would unleash demand in the housing market in the spring – the key spring selling season –...
Tony Anderson/DigitalVision via Getty Images For the 4th year in a row: Normal-ish mortgage rates, too-high prices, and the “lock-in effect” from the Fed’s reckless interest rate repression. Late last year and early this year, the story was that dropping mortgage rates, powered by big rate cuts from the Fed, would unleash demand in the housing market in the spring – the key spring selling season – and that sales volume would take off and that Realtors’ commissions would rocket to the moon. And so that didn’t happen. Inflation has been reheating for months before the war and before the energy price spike. The energy price spike in March and April then added to that resurgence of inflation. The Fed is now talking about a possibility of rate hikes as the next move. And longer-term Treasury yields, such as the 10-year Treasury yield ( US10Y ), rose in March and April in response to inflation fears. Mortgage rates, which track those Treasury yields but are higher, rose back to the 6.5% range. And the housing market remained in the same-old-same-old frozen pattern that it has been in for four years after the price explosion from mid-2020 through mid-2022. And it continued in the latest week. Mortgage applications to purchase a home – a measure of demand that may become actual home sales in the future, so a forward-looking indicator of home sales – dipped in the current survey week and remained near rock-bottom levels, down by 34% from the same week in 2019, according to data by the Mortgage Bankers Association today. That level of mortgage applications is below even the collapse of mortgage applications during the lockdown in the spring of 2020. The average weekly mortgage rate for conforming 30-year fixed mortgages rose to 6.45% in the latest reporting week, according to the Mortgage Bankers Association today. For the past 7 weeks, this measure of mortgage rates has been back in the middle of the 6-7% range, the range it has been in since September 2022, except for some ...
Earnings Call Insights: Ellington Financial (EFC) Q1 2026 Management View "Ellington Financial delivered an exceptionally strong first quarter in terms of both GAAP net income and adjusted distributable earnings" (CEO, President & Director Laurence Penn), citing "GAAP net income of $0.78 per share," "an annualized economic return of 26%" and "book value per share appreciation of 3% even after divi...
Earnings Call Insights: Ellington Financial (EFC) Q1 2026 Management View "Ellington Financial delivered an exceptionally strong first quarter in terms of both GAAP net income and adjusted distributable earnings" (CEO, President & Director Laurence Penn), citing "GAAP net income of $0.78 per share," "an annualized economic return of 26%" and "book value per share appreciation of 3% even after dividends." "Longbridge had a near record quarter for proprietary reverse mortgage loan origination volumes," with "continued gains in market share for HECM originations" and "healthy gain on sale margins across products" (CEO Penn). He also said the quarter included "a onetime litigation settlement payment" and that Longbridge "surpassed its 2025 full year net income by a wide margin." "We participated in 7 transactions totaling more than $2.8 billion from our EFMT shelf" (CEO Penn), while also noting the company "continue[s] to advance our previously announced acquisition of a residential mortgage servicer, which remains subject to regulatory approval." "For the first quarter, we reported GAAP net income of $0.78 per common share on a fully mark-to-market basis and ADE of $0.55 per share" (CFO & Treasurer JR Herlihy). He added, "we are now increasing our quarterly guidance on ADE per share to the $0.45 per share area." "Securitization volumes were $2.8 billion, our largest quarter ever" (Co-chief investment officer Mark Tecotzky), and he emphasized funding mix, saying, "mark-to-market repo represents a much smaller percentage of our overall borrowings. So our margin call risk is even lower now than it was back then." Outlook "Moving forward, we are now increasing our quarterly guidance on ADE per share to the $0.45 per share area, which is still well above our dividend run rate of $0.39" (CFO Herlihy). "We will continue to monitor the markets with an eye toward issuing additional preferred equity when pricing becomes more attractive" (CEO Penn). "We estimate that remarketing ...
Earnings Call Insights: Talos Energy (TALO) Q1 2026 Management View Paul Goodfellow (President, CEO & Director) framed the quarter around “another quarter of strong financial outcomes,” citing “adjusted free cash flow of $113 million on production of approximately 89,000 barrels of oil equivalent per day,” and said Q1 production “just exceeded first quarter guidance,” driven by “strong new well pr...
Earnings Call Insights: Talos Energy (TALO) Q1 2026 Management View Paul Goodfellow (President, CEO & Director) framed the quarter around “another quarter of strong financial outcomes,” citing “adjusted free cash flow of $113 million on production of approximately 89,000 barrels of oil equivalent per day,” and said Q1 production “just exceeded first quarter guidance,” driven by “strong new well productivity at Cardona, continued solid base performance and high facility uptime.” Goodfellow highlighted execution milestones and timing: the company “drilled and completed the CPN well in quarter 1 with first production on track for the third quarter,” with “0 completion-related nonproductive time,” and said the Genovesa remediation plan is “on track for quarter 2 with a return to production midyear, slightly ahead of schedule.” Goodfellow also emphasized 2026’s activity set, including “drilling is underway at the Monument project operated by Beacon Offshore with first oil on track by late 2026,” and said Talos expects to “spud the Daenerys appraisal well late in the second quarter” and “have the well drilled and evaluated by the end of the year.” Zachary Dailey (Executive VP & CFO) said Q1 results included “just under $120 million of exploration and development capital,” “$293 million of adjusted EBITDA and $113 million of adjusted free cash flow,” and described “a low reinvestment rate of approximately 41%.” Outlook Dailey stated, “all of our full year 2026 operational and financial guidance ranges we released in late February remain unchanged,” adding, “our capital allocation priorities and our 2026 budget remain unchanged.” For Q2, Dailey guided to oil production of “63,000 to 67,000 barrels of oil per day” and total production of “88,000 to 92,000 barrels of oil equivalent per day.” In response to questions about a higher-for-longer price environment, Goodfellow said, “we're not going to chase an oil curve,” and reiterated the company will pursue “projects that have ...
Earnings Call Insights: Viemed Healthcare, Inc. (VMD) Q1 2026 Management View “This past quarter demonstrated what consistent execution looks like across our entire platform,” said (CEO & Director Casey Hoyt), adding, “Our sleep business continues to scale and differentiate itself. Maternal health is performing ahead of plan. Our free cash flow profile has improved meaningfully year-over-year.” (C...
Earnings Call Insights: Viemed Healthcare, Inc. (VMD) Q1 2026 Management View “This past quarter demonstrated what consistent execution looks like across our entire platform,” said (CEO & Director Casey Hoyt), adding, “Our sleep business continues to scale and differentiate itself. Maternal health is performing ahead of plan. Our free cash flow profile has improved meaningfully year-over-year.” (CEO Hoyt) highlighted ventilation execution under the new NCD, saying, “new patient start-up momentum is building faster and stronger than we expected,” while also flagging near-term churn dynamics: “the turnover rate for those patients is higher than pre-NCD. That has created some near-term pressure on the net patient census number, which ended the quarter at 12,089 patients.” (Chief Financial Officer Trae Fitzgerald) reiterated the call included forward-looking statements, stating, “Such statements reflect the company's current views and intentions with respect to future results or events and are subject to certain risks and uncertainties, which could cause actual results or events to vary from those indicated.” (COO & Director Todd Zehnder) emphasized mix shift and capital efficiency, saying, “As sleep resupply, maternal health and staffing represent a growing share of our revenue, more of our growth is coming from service lines that require less capital per dollar of revenue than our ventilator business.” Outlook (COO Zehnder) said, “We are updating our full year 2026 guidance on 2 metrics,” including “narrowing and raising the low end of our range to $312 million to $320 million from the range of $310 million to $320 million,” while “reaffirming adjusted EBITDA in the range of $65 million to $69 million.” (COO Zehnder) updated capital intensity expectations: “we are updating our full year net CapEx outlook to a range of 9% to 10.5% of net revenue from our prior expectation of 10% to 11.5%.” (COO Zehnder) reiterated the quarterly growth cadence discussed previously, stat...
Earnings Call Insights: The Brink's Company (BCO) Q1 2026 Management View "We're pleased with another strong quarter of growth and operational execution as we continue to transform Brink's into a more predictable and profitable enterprise." (CEO, President & Director Richard Eubanks) "Our results were at the upper end of our first quarter guidance ranges, and we're off to a strong start to the yea...
Earnings Call Insights: The Brink's Company (BCO) Q1 2026 Management View "We're pleased with another strong quarter of growth and operational execution as we continue to transform Brink's into a more predictable and profitable enterprise." (CEO, President & Director Richard Eubanks) "Our results were at the upper end of our first quarter guidance ranges, and we're off to a strong start to the year." (CEO Eubanks) "First quarter revenue growth of 10% included 4.5% organic growth, driven mostly by 15% organic growth in ATM Managed Services and Digital Retail Solutions or AMS/DRS." (CEO Eubanks) "In total, Q1 EBITDA was $238 million with a margin of 17.3%, trailing 12-month EBITDA was $1 billion for the first time in our history this quarter." (CEO Eubanks) "On a trailing 12-month basis, free cash flow exceeded $0.5 billion for the first time in our company's history with conversion from EBITDA of 50%." (CEO Eubanks) "The acquisition of NCR Atleos is expected to accelerate our ability to capture these AMS and DRS customers" and "cost efficiencies are expected to accelerate behind the $200 million of cost synergies that we previously identified." (CEO Eubanks) "We expect closing will occur by the end of the first quarter of 2027." (CEO Eubanks) "Adjusted EBITDA was up 10% to $238 million with operating profit up 12%." (Executive VP & CFO Kurt McMaken) Outlook "Our framework for 2026 remains unchanged." (CFO McMaken) "We expect to deliver mid-single-digit total organic growth, supported by mid- to high teens organic growth for AMS/DRS." (CFO McMaken) "Using rates as of yesterday, we are currently expecting to see an FX tailwind for the full year of between 2% and 3%." (CFO McMaken) "EBITDA margins are expected to expand between 30 and 50 basis points with conversion of EBITDA to free cash flow of between 40% and 45%." (CFO McMaken) "In the second quarter, we expect revenue between $1.37 billion and $1.43 billion" and "Adjusted EBITDA is expected to be between $245 milli...