Executive Summary
Across 36 Q1 2026 financial filings (mostly 10-Qs, some 10-Ks), revenue growth averaged ~10-15% YoY in high performers like GE Vernova (+16%), Vertiv (+30%), EQT (+94%), and Intuitive Surgical (+23%), but was mixed with declines in homebuilding (Taylor Morrison -27%), beverages (Constellation -10%), and healthcare services (Community Health -6%). Profitability showed stark contrasts: blowout net income surges (GE Vernova to $4.7B, EQT +515%) versus widening losses (Reborn Coffee -87%, KKR RE to $57M loss). Capital allocation leaned heavily toward aggressive buybacks totaling billions (e.g., Calix $172M, J&J $4B, Intuitive $1.1B) and acquisitions (GEV $4.9B, Boeing Spirit $8.4B, Wabtec $1.1B), signaling management conviction amid cash generation improvements in 20+ firms (e.g., United Airlines +29% op cash). Margin trends were pressured in 12/36 companies (avg -50-200bps compression from costs/investments), but industrials/energy outperformed with expansion. REITs faced credit/impairment hits (KKR +196% provisions), while airlines/industrials showed resilience. Portfolio implication: overweight growth industrials/energy on buybacks/M&A; trim cyclical decliners like housing/REITs ahead of potential slowdowns.
Tracking the trend? Catch up on the prior US Earnings Financial Results SEC Filings digest from April 15, 2026.
Investment Signals(12)
- GE Vernova Inc.↓(BULLISH)▲
Revenues +16% YoY to $9.3B, net income +1766% to $4.7B on $4.8B other income, $1.3B buybacks, $4.9B acquisitions
- EQT Corp↓(BULLISH)▲
Operating revenues +94% YoY to $3.4B, net income +515% to $1.5B, op cash +76% to $3.1B despite +20% capex
- Vertiv Holdings↓(BULLISH)▲
Net sales +30% YoY to $2.6B, net income +137% to $390M, op cash doubled to $767M on deferred rev +$651M
- Intuitive Surgical↓(BULLISH)▲
Revenue +23% YoY to $2.8B, net income +18% to $822M despite $1.1B buybacks draining cash
- United Airlines↓(BULLISH)▲
Op revenue +11% YoY to $14.6B, net income +80% to $699M, op cash +29% to $4.8B, cash +32% QoQ
- Mueller Industries↓(BULLISH)▲
Sales +19% YoY to $1.2B, op income +51% to $312M on $41M business sale gain, $75M buybacks
- CSX Corp↓(BULLISH)▲
Revenue +2% YoY but op income +20% to $1.3B, net earnings +25% to $807M, expenses -6% YoY
- Taylor Morrison↓(BEARISH)▲
Revenue -27% YoY to $1.4B, net income -54% to $99M, gross margin contraction, inventory +2% QoQ
- Constellation Brands↓(BEARISH)▲
FY26 sales -10% YoY to $9.1B post-divestitures (Wine -52%, Spirits -44%), new $4B buyback auth
- Reborn Coffee↓(BEARISH)▲
Revenues +37% YoY to $8.1M but op loss worsened 25% to $5.8M, net loss +87% to $9M on +135% G&A
- KKR Real Estate Finance↓(BEARISH)▲
Net loss widened to $57M from $6M, credit provisions +196% to $74M, loans -10% QoQ
- Community Health Systems↓(BEARISH)▲
Op revenues -6% YoY to $3B, swung to $58M net loss to stockholders, op cash use $297M
Risk Flags(9)
- Taylor Morrison/Homebuilding↓[HIGH RISK]▼
Home closings -28% YoY, gross margin -37% to $291M, op cash use $10M vs +$77M prior, inventory impairments $8M
- Reborn Coffee/Operations↓[HIGH RISK]▼
Net loss +87% YoY to $9M, cash used in ops +88% to $6.5M, wholesale sales -68% YoY
- VITASPRING BIOMEDICAL/Cash Burn↓[HIGH RISK]▼
Zero revenue, assets -53% QoQ to $64K, cash to $6K, stockholders' deficit +10% to -$3.7M
- KKR Real Estate Finance/Credit↓[HIGH RISK]▼
Provisions +196% YoY to $74M, net loss to $57M, loan count -5 to 50 QoQ
- Armour Residential REIT/Portfolio↓[HIGH RISK]▼
$183M net loss on agency securities trading, unrealized loss $49M vs +$160M prior, dividend guidance cut to 3.5-3.75%
- Winning Catering/Insolvency↓[CRITICAL RISK]▼
Zero revenue (-100% YoY), cash depleted to $0, equity -$60K on related party debt
- Community Health Systems/Liquidity↓[MEDIUM RISK]▼
Op cash swung to -$297M use, patient receivables +3% to $2.1B despite hospital sales
- Masco Corp/Cash Flow↓[MEDIUM RISK]▼
Op cash negative -$79M (imp. from -$158M), cash -40% QoQ to $388M despite +6.5% sales
- J&J/Profitability[MEDIUM RISK]▼
Net earnings -52% YoY to $5.2B on one-time prior gain absence, op cash -40% to $2.5B
Opportunities(9)
- GE Vernova/M&A Momentum↓(OPPORTUNITY)◆
$4.9B acquisitions drove goodwill +122% QoQ to $9.9B, rev +16% YoY, cash ops +347% to $5.2B
- EQT/Energy Surge↓(OPPORTUNITY)◆
Gas sales +53% YoY, op income +310% to $2B across segments, capex +20% signals reinvestment
- Vertiv/Data Center Tailwinds↓(OPPORTUNITY)◆
Sales +30% YoY, deferred rev +$647M QoQ, EPS +136% to $0.99, inventory build for growth
- Calix/Tech Growth↓(OPPORTUNITY)◆
Revenue +27% YoY to $280M, swung to $11M profit, $172M buybacks despite cash drop
- United Rentals/Acquisitions↓(OPPORTUNITY)◆
Purchases $396M (+2230% YoY), rentals +9% to $3.4B, op cash +6% to $1.5B
- Intuitive Surgical/Buybacks↓(OPPORTUNITY)◆
$1.1B repurchases post +23% rev, inventory +6% QoQ supports procedure growth
- EastGroup Properties/REIT Gains↓(OPPORTUNITY)◆
Rev +9% YoY, net income +59% on $25M real estate sale gain, op cash +6%
- AZZ Inc/Asset Sales↓(OPPORTUNITY)◆
FY sales +5%, net income +146% on $205M JV gains, op cash doubled to $525M
- Flexsteel/Profitability Turn↓(OPPORTUNITY)◆
Q3 net income $6.4M vs prior loss, 9-mo +116% to $20M, cash +43% to $57M
Sector Themes(6)
- Aggressive Buybacks in Industrials/Tech (12/36 firms)(BULLISH SHAREHOLDER RETURNS)◆
$172M Calix, $1.1B Intuitive, $75M Mueller, $421M United Rentals; avg $300-500M/Q, reducing shares 1-14% QoQ, signaling conviction amid 10-30% rev growth
- Energy/Upstream Boom(SECTOR OUTPERFORMANCE)◆
EQT +94% rev/+515% NI, GE Vernova equipment +25%; contrasts Weatherford -3% rev, but op cash strong avg +50% YoY
- REIT Credit Pressures (5 firms)[BEARISH RISKS]◆
KKR provisions +196%, Essential impairment +186%, Armour $183M trading loss; dividend stability (KKR $0.25) but equity -7% avg
- Margin Expansion in Select Growth (8/36)(MIXED INDUSTRIALS)◆
Vertiv op profit +51%, Mueller +51%, CSX +20%; but 12 firms compressed -50-200bps from costs (J&J, Graco -4-5%)
- M&A Acceleration (10+ deals)(CONSOLIDATION WAVE)◆
GEV $4.9B, Boeing $8.4B Spirit, Wabtec $1.1B, Quest $38M; valuations implied accretive, driving goodwill +20-100% QoQ
- Cash Generation vs Burn(HEALTHY LARGE-CAPS)◆
24/36 improved op cash (e.g., United Airlines +29%, Vertiv x2), but 8 small caps depleted cash to near-zero (Vitaspring, Winning)
Watch List(8)
Progressive cuts to 3.5-3.75% (Dec 2025), portfolio CPR 10.4%, monitor Q2 for further trading losses
New $4B authorization Apr 2025 post-divestitures, watch FY27 beer recovery vs wine drag
$8.4B fair value acquisition, Commercial loss widened to $563M; track earnings call for 737 progress
Provisions $74M, loans 98% floating at 7% coupon/1.7yr life; monitor CRE defaults Q2 2026
Lots +2% QoQ to 76K, closings -28% YoY; watch for rate cut catalysts on demand
+186% to $17M, real estate investments $311M; track occupancy/affiliate performance
$1.1B proceeds boosted cash x3, debt -2%; monitor divestiture pipeline for deleveraging
Financing +$12M covered $10M uses, stores +7% but wholesale -68%; watch liquidity post-10-K
Filing Analyses(36)
22-04-2026
GE Vernova Inc. reported robust Q1 2026 results with total revenues increasing 16% YoY to $9,339 million from $8,032 million, driven by 25% growth in equipment sales to $5,254 million and 6% in services to $4,084 million. Net income attributable to GE Vernova surged to $4,745 million from $254 million, propelled by $4,762 million in other income (Note 19), though operating income grew more modestly to $179 million (+316% YoY) amid higher SG&A (+9%) and R&D expenses (+27%). Cash from operating activities rose to $5,188 million from $1,161 million, supporting $4,886 million in principal business acquisitions, with total assets expanding 20% QoQ to $75,612 million.
- ·Goodwill increased to $9,855 million from $4,439 million QoQ due to acquisitions.
- ·Long-term borrowings rose to $2,806 million from $265 million QoQ.
- ·Treasury common stock at cost increased to $(4,684) million from $(3,385) million QoQ amid $1,299 million repurchases.
- ·Dividends declared at $0.50 per common share, totaling $137 million.
22-04-2026
Masco Corporation reported net sales of $1,918 million for the three months ended March 31, 2026, up 6.5% YoY from $1,801 million, with operating profit rising 10.5% to $316 million and net income attributable to Masco increasing 14.5% to $213 million. However, cash and cash investments declined to $388 million from $647 million QoQ and $377 million YoY, with net cash from operating activities still negative at $(79) million despite improvement from $(158) million YoY, and total comprehensive income attributable to Masco fell 8.7% to $193 million amid a $27 million currency translation loss. Significant stock repurchases of $202 million contributed to a reduction in shares outstanding to 201.7 million and a QoQ drop in total equity to $27 million.
- ·Long-term debt remained stable at $2,945 million QoQ.
- ·Gross profit increased 6.5% YoY to $686 million.
- ·Purchase of common stock was $202 million in Q1 2026 vs. $130 million in Q1 2025.
22-04-2026
Reborn Coffee, Inc. reported total net revenues of $8,094,628 for the year ended December 31, 2025, up 36.5% YoY from $5,928,533, driven by new service income ($928,990, +100%) and license income ($1,100,000, +100%), while stores revenue grew modestly 6.8% to $5,952,061 but wholesale and online sales declined sharply 68.0% to $113,577. However, operating expenses increased 31.7% to $13,888,475, resulting in a larger operating loss of $5,793,847 (25.4% worse YoY) and net loss widening to $9,007,091 (87.4% worse YoY), amid high G&A, professional fees up 134.5%, stock compensation up 88.6%, and a $1,647,229 asset impairment loss.
- ·Net cash used in operating activities increased to $6,505,426 in 2025 from $3,452,224 in 2024.
- ·Net cash used in investing activities was $2,976,195 in 2025 vs. $977,217 in 2024.
- ·Net cash provided by financing activities was $11,918,112 in 2025 vs. $4,423,355 in 2024.
- ·General and administrative expenses rose 13.0% to $7,751,594.
- ·Provision for income taxes increased to $109,279 from $800.
22-04-2026
VITASPRING BIOMEDICAL CO. LTD. reported zero revenue for the three and six months ended July 31, 2024, posting net losses of $218,662 and $435,493, respectively, which narrowed 38% and 34% YoY from $353,583 and $658,184 due to lower SG&A expenses. However, total assets fell sharply 53% to $64,334 from $137,342 at January 31, 2024, cash dwindled to $5,525 from $13, and stockholders' deficit expanded 10% to $(3,703,249). Operating cash use improved to $(6,444) from $(27,752) YoY but remains negative amid heavy related-party liabilities.
- ·Accounts payable to related party unchanged at $2,411,000.
- ·Operating lease right-of-use asset fully impaired to $0 from $89,652.
- ·Equipment and vehicle, net declined to $19,084 from $24,063.
- ·Stock-based compensation of $82,433 for six months ended July 31, 2024.
22-04-2026
Boeing reported Q1 2026 revenues of $22,217 million, up 14% YoY from $19,496 million, driven by strong growth in Defense, Space & Security (+21% to $7,599 million) and Commercial Airplanes (+13% to $9,203 million), while Global Services grew 6% to $5,370 million. However, the company posted a net loss of $7 million (improved from $31 million YoY), with Commercial Airplanes operating loss widening to $563 million from $537 million, overall operating earnings slightly down 3% to $448 million, cash and equivalents declining to $9,441 million from $10,921 million at year-end, and inventories rising to $87,225 million. Operating cash use improved significantly to $179 million from $1,616 million, amid updates on the Spirit acquisition with fair value consideration of $8,389 million.
- ·Comprehensive income attributable to Boeing Shareholders: $7 million in Q1 2026 vs $118 million in Q1 2025.
- ·Debt repayments in financing activities: $6,950 million in Q1 2026.
- ·Net cash provided by investing activities: $5,711 million in Q1 2026 vs used $1,717 million in Q1 2025.
- ·Shareholders’ equity increased to $5,987 million at March 31, 2026 from $5,454 million at December 31, 2025.
- ·Spirit acquisition net assets: $8,389 million as of March 31, 2026 (up slightly from $8,371 million at December 31, 2025).
22-04-2026
Constellation Brands' FY2026 consolidated net sales declined 10.4% YoY to $9,139.0 million from $10,208.7 million, driven by sharp drops in Wine (-51.7% to $700.4 million) and Spirits (-43.6% to $123.4 million) following the 2025 Wine Divestitures and SVEDKA Divestiture. Beer net sales fell 2.6% to $8,315.2 million from $8,539.8 million. The Board approved a new $4.0 billion stock repurchase authorization in April 2025, succeeding prior programs.
- ·2025 Authorization to repurchase up to $4.0 billion of publicly traded common stock approved in April 2025.
- ·2025 Credit Agreement provides $2.25 billion revolving credit facility dated April 28, 2025.
- ·2025 Term Credit Agreement for $500.0 million unsecured delayed draw term loan facility, now terminated.
22-04-2026
Calix, Inc. reported Q1 2026 revenue of $279.984 million, up 27.1% YoY from $220.242 million, driven by 29.6% growth in appliances to $232.843 million and 16.4% in software/services to $47.141 million, swinging to net income of $11.210 million from a $4.787 million loss. However, cash and equivalents dropped sharply 61.9% QoQ to $54.601 million from $143.086 million due to $172.251 million in common stock repurchases, leading to a 14.0% decline in stockholders' equity to $737.977 million and total assets falling 10.2% QoQ to $951.408 million. Operating cash flow also dipped 15.0% YoY to $14.634 million.
- ·Gross profit increased 29.8% YoY to $159.296 million.
- ·Operating expenses rose 13.8% YoY to $146.580 million.
- ·Inventory increased 15.7% QoQ to $154.626 million.
- ·Accounts receivable, net, up 17.5% QoQ to $116.772 million.
- ·Marketable securities declined 22.9% QoQ to $188.688 million.
22-04-2026
United Airlines Holdings, Inc. reported Q1 2026 total operating revenue of $14,608M, up 10.6% YoY from $13,213M, driven by passenger revenue growth of 11.0% to $13,166M; however, cargo revenue declined 1.6% to $422M while operating expenses rose 8.0% to $13,611M amid higher salaries, fuel, and maintenance costs. Net income increased 80.4% YoY to $699M with operating income up 64.4% to $997M, and cash from operations surged 29.4% to $4,799M. Balance sheet strengthened with cash and equivalents rising 32.3% QoQ to $7,869M and total assets up 5.9% to $80,941M.
- ·Aircraft fuel expense increased 12.6% YoY to $3,041M.
- ·Salaries and related costs rose 9.8% YoY to $4,562M.
- ·Special charges (credits) improved to $(389)M from $(108)M YoY.
- ·Total current liabilities up 6.3% QoQ to $27,781M.
- ·Stockholders' equity increased 3.9% QoQ to $15,876M.
22-04-2026
Johnson & Johnson reported fiscal first quarter sales of $24,062 million, up 9.9% YoY from $21,893 million, with gross profit margin slightly down to 66.3% from 66.4%. However, net earnings declined sharply 52.4% YoY to $5,235 million from $10,999 million, driven by a $294 million other expense versus a $7,321 million gain in the prior year, resulting in diluted EPS of $2.14 versus $4.54. Operating cash flow also decreased to $2,514 million from $4,174 million YoY.
- ·Cash and cash equivalents increased $1,979 million QoQ to $21,688 million.
- ·Current liabilities rose $3,590 million QoQ to $57,716 million, driven by higher loans and notes payable.
- ·Company repurchased $4,034 million of common stock in Q1 2026, up from $2,129 million in Q1 2025.
- ·Dividends paid increased to $3,131 million ($1.30 per share) from $2,989 million ($1.24 per share) YoY.
- ·Intangible assets, net decreased $1,342 million QoQ to $49,061 million.
22-04-2026
Taylor Morrison Home Corp reported total revenue of $1,387,092 thousand for Q1 2026, down 27% YoY from $1,896,019 thousand, primarily due to home closings revenue declining 28% to $1,311,421 thousand, while net income fell 54% to $98,625 thousand with diluted EPS at $1.01 versus $2.07. Gross margin contracted 37% YoY to $290,638 thousand amid higher costs. However, real estate inventory increased 2% QoQ to $6,238,563 thousand, owned lots rose 2% QoQ to 36,682, total owned and controlled lots stood at 75,626, and the company repurchased 2,457,073 shares for $150,805 thousand.
- ·Operating cash flow used $10,431 thousand in Q1 2026 versus provided $77,231 thousand in Q1 2025.
- ·Inventory impairment charges $8,182 thousand in Q1 2026, down from $14,878 thousand YoY.
- ·Weighted average diluted shares 97,530 thousand in Q1 2026, down from 103,017 thousand YoY.
- ·Senior notes net $1,463,865 thousand unchanged QoQ.
22-04-2026
CSX Corp reported Q1 2026 revenue of $3,482 million, up 1.7% YoY from $3,423 million, reflecting modest top-line growth while total expenses fell 6.4% to $2,229 million due to declines in purchased services (down 20.3% to $616 million) and labor/fringe benefits (down 1.1% to $812 million), though fuel expenses increased 10.2% to $302 million from $275 million. Operating income rose sharply 20.4% to $1,253 million, driving net earnings up 24.8% to $807 million ($0.43 per diluted share vs. $0.34). Cash from operations edged up 1.4% to $1,272 million, with cash and equivalents reaching $964 million at quarter-end, but share repurchases dropped significantly to $222 million from $751 million.
- ·Total assets increased to $44,232 million at March 31, 2026 from $43,682 million at December 31, 2025.
- ·Shareholders' equity rose to $13,581 million at March 31, 2026 from $13,160 million at December 31, 2025.
- ·Dividends paid increased to $260 million in Q1 2026 ($0.14 per share) from $245 million in Q1 2025 ($0.13 per share).
- ·Property additions in investing activities decreased to $543 million from $719 million YoY.
- ·Short-term investments grew to $145 million at March 31, 2026 from $5 million at December 31, 2025.
22-04-2026
EQT Corporation reported robust Q1 2026 results with total operating revenues surging 94% YoY to $3.38B, driven by 53% higher sales of natural gas, NGLs, and oil at $3.44B, leading to operating income of $2.04B (up 310% YoY) and net income attributable to EQT of $1.49B (up 515% YoY, EPS $2.36-$2.38). However, total operating expenses rose 8% YoY to $1.34B, with transportation and processing costs up 6% and DD&A up 5%, while the loss on derivatives improved to $238M from $679M but remained a drag. Net cash from operating activities increased 76% to $3.06B, though capital expenditures grew 20% to $599M and total assets dipped slightly to $41.69B.
- ·Upstream segment operating income: $1.73B
- ·Gathering segment operating income: $218M
- ·Transmission segment operating income: $116M
- ·Senior notes reduced to $5.21B from $6.93B at year-end 2025
- ·Revolving credit facility borrowings: $271M as of March 31, 2026
- ·Dividends paid: $103M ($0.165 per share)
- ·Cash and cash equivalents: $327M as of March 31, 2026 (up from $111M at Dec 31, 2025)
22-04-2026
Flexsteel Industries Inc reported net sales of $115,125 for Q3 FY26, up 1.0% YoY from $113,972, with gross profit rising 2.8% to $26,045 and net income of $6,445 versus a $3,742 loss in the prior year; nine-month net sales increased 5.3% to $343,813 while net income more than doubled to $20,416 from $9,452. However, SG&A expenses rose 4.4% to $17,823 in Q3 and 6.2% to $52,609 nine-month, trade receivables grew 17.7% to $41,455, and inventories declined 9.6% to $80,569. The balance sheet improved with cash up 43.1% to $57,283, total assets at $290,171, and shareholders' equity at $185,303.
- ·Operating cash flows nine months: $27,195 in 2026 vs $21,353 in 2025
- ·Capital expenditures nine months: $3,539 in 2026 vs $2,690 in 2025
- ·Treasury stock purchases nine months 2026: $1,130
- ·Cash dividends declared nine months 2026: $3,294
- ·Diluted EPS nine months: $3.63 in 2026 vs $1.70 in 2025
- ·Unvested RSUs and PSUs as of March 31, 2026: 270 thousand shares
22-04-2026
Vertiv Holdings Co (VRT) delivered strong Q1 2026 results with net sales surging 30.1% YoY to $2,649.5 million, fueled by 29.5% growth in products ($2,135.8 million) and 33.0% in services ($513.7 million), while net income more than doubled 137.2% to $390.1 million and operating profit rose 51.4% to $440.1 million. Cash from operating activities more than doubled to $766.8 million, boosted by a $651.2 million increase in deferred revenue, though offset by a $384.2 million inventory build-up and $112.6 million in capital expenditures. However, other comprehensive income fell to $295.7 million due to a $94.4 million net OCI loss (vs. $73.6 million gain prior year), driven by foreign currency translation and interest rate swap losses.
- ·Diluted EPS increased to $0.99 from $0.42 YoY.
- ·Deferred revenue rose $647.1 million QoQ to $2,461.8 million.
- ·Capital expenditures increased to $112.6 million from $36.5 million YoY.
- ·Small business acquisition with net assets acquired of $1,139.2 million (preliminary).
- ·Loss on extinguishment of debt: $6.2 million in Q1 2026.
22-04-2026
Net sales rose 2% YoY to $540.1M in Q1 2026, with Contractor segment up 2% to $260.0M and Industrial up 4% to $240.4M, but Expansion Markets declined 4% to $39.8M. Operating earnings fell 4% to $137.8M due to higher operating expenses, while net earnings decreased 5% to $118.5M with diluted EPS of $0.70 versus $0.72 YoY. Cash from operations was $120.2M, slightly down from $125.4M, boosting cash to $712.2M.
- ·Gross profit increased 1% YoY to $280.6M.
- ·Total current assets $1,566.6M as of Mar 27, 2026, up from $1,471.9M QoQ.
- ·Shareholders’ equity $2,742.4M as of Mar 27, 2026, up from $2,653.9M QoQ.
- ·Dividends declared $0.295 per share in Q1 2026 versus $0.275 in Q1 2025.
- ·Common stock repurchased $11.8M in Q1 2026 versus $238.1M in Q1 2025.
22-04-2026
Quest Diagnostics reported net revenues of $2,895 million for Q1 2026, up 9.2% YoY from $2,652 million, with operating income rising 15.3% to $399 million and net income attributable to the company increasing 14.5% to $252 million (diluted EPS $2.24 vs. $1.94). However, net cash provided by operating activities declined 11.5% YoY to $278 million, cash and equivalents fell 6.4% QoQ to $393 million, and total assets grew modestly 2.8% QoQ to $16,673 million amid a $38 million acquisition.
- ·Business acquisitions of $38 million in Q1 2026, contributing to goodwill increase from $8,945 million to $9,120 million QoQ.
- ·Contributions by noncontrolling interest partners of $258 million in Q1 2026, boosting noncontrolling interests from $36 million to $300 million.
- ·Net cash used in investing activities increased to $152 million from $115 million YoY.
- ·Allowance for credit losses on accounts receivable steady at $27 million as of March 31, 2026.
22-04-2026
Veris Residential reported total revenues of $70.1M for Q1 2026, up 3.5% YoY from $67.8M, driven by higher lease revenues, while operating cash flow improved to $14.0M from $13.2M. However, total expenses rose 9.4% YoY to $68.0M primarily due to $10.5M in transaction and merger costs, resulting in a widened net loss available to common shareholders of $14.0M or $(0.15) per share versus $10.7M or $(0.12) per share in Q1 2025. Total assets decreased to $2.68B as of March 31, 2026 from $2.71B at year-end 2025 amid lower net investment in rental property.
- ·Revolving credit facility increased to $124M from $30M QoQ.
- ·Interest expense improved to $17.9M from $23.0M YoY.
- ·Equity in earnings of unconsolidated joint ventures declined to $0.5M from $3.8M YoY.
- ·Basic weighted average shares outstanding: 93,595k in Q1 2026 vs 93,059k in Q1 2025.
22-04-2026
Armour Residential REIT reported net interest income of $70,714 thousand for Q1 2026, up 94.6% YoY from $36,341 thousand, driven by higher interest income of $249,201 thousand (up 44.2%) and an improved net interest spread of 1.04% from 0.49%. However, a $110,218 thousand other income loss, primarily from a $182,595 thousand net loss on agency securities trading, led to a net loss of $54,851 thousand versus a $27,332 thousand profit in Q1 2025, with expenses also rising 16.7% to $15,347 thousand. The securities portfolio fair value increased to $21,071,466 thousand at March 31, 2026 from $20,015,749 thousand at December 31, 2025, but shifted to a $48,612 thousand unrealized loss from a $159,903 thousand gain.
- ·Portfolio CPR: 10.4% at March 31, 2026; Weighted Average Months to Maturity: 316 months for agency securities.
- ·Gross Unrealized Gain (Loss) on Total Investments: ($48,612) thousand at March 31, 2026 vs $159,903 thousand at December 31, 2025.
- ·Dividend rate guidance at board meetings declined progressively: December 10, 2025 (3.50%-3.75%); October 29, 2025 (3.75%-4.00%); down from September 18, 2024 (4.75%-5.00%).
22-04-2026
United Rentals reported Q1 2026 total revenues of $3,985M, up 7% YoY from $3,719M, primarily driven by equipment rentals growth of 9% to $3,419M; gross profit rose 8% to $1,469M and operating income increased 8% to $869M despite a $45M restructuring charge (vs $1M prior year). However, sales of rental equipment declined 7% to $350M, net income growth was modest at 3% to $531M, comprehensive income fell to $508M from $539M, and cash equivalents dropped sharply 66% QoQ to $156M from $459M.
- ·Net cash provided by operating activities increased to $1,514M from $1,425M YoY.
- ·Purchases of other companies were $396M, up significantly from $17M YoY.
- ·Common stock repurchases totaled $421M including tax withholdings.
- ·Dividends declared $124M in Q1 2026 vs $117M prior year.
- ·Restructuring charge of $45M in Q1 2026 vs $1M prior year.
22-04-2026
Mueller Industries reported robust Q1 2026 results with net sales increasing 19% YoY to $1,193,005 thousand and operating income rising 51% to $312,228 thousand, driven by higher volumes and a $41.4 million gain on sale of business, leading to net income attributable to the company up 52% to $239,018 thousand and diluted EPS of $2.16. However, cash provided by operating activities declined 30% YoY to $79,741 thousand amid working capital increases, asset impairments of $2,653 thousand were recorded, and other comprehensive income shifted to a loss of $8,085 thousand. Balance sheet strengthened with cash equivalents at $1,382,345 thousand and total assets at $3,942,363 thousand as of March 28, 2026.
- ·Gain on sale of business: $41,407 thousand in Q1 2026
- ·Asset impairments: $2,653 thousand in Q1 2026
- ·Common stock repurchases: $74,981 thousand in Q1 2026
- ·Dividends per share increased to $0.35 from $0.25 YoY
- ·Accounts receivable increased $194,945 thousand QoQ to $670,511 thousand
- ·Inventories increased $34,988 thousand QoQ to $545,451 thousand
22-04-2026
Hexcel reported Q1 2026 net sales of $501.5M, up 9.9% YoY from $456.5M, with gross margin expanding to $134.7M (+31.5% YoY) and net income rising to $37.2M (+28.7% YoY), driven by higher sales volumes. However, selling, general and administrative expenses increased to $49.4M (+14.1% YoY), research and development expenses rose to $17.8M (+29.0% YoY), and other operating expenses surged to $9.9M from $1.1M, while cash and equivalents declined to $54.1M from $71.0M QoQ amid working capital investments.
- ·Accounts receivable increased to $291.0M from $249.3M QoQ.
- ·Inventories rose to $339.8M from $328.8M QoQ.
- ·Capital expenditures were $25.2M in Q1 2026.
- ·Dividends paid $13.7M ($0.18 per share) in Q1 2026.
- ·Net cash used for financing activities $10.3M in Q1 2026.
22-04-2026
Churchill Downs Incorporated reported Q1 2026 net revenue of $663M, up 3.1% YoY from $643M, driven by Live and Historical Racing (+8.8% to $297M), while Wagering Services and Solutions grew modestly 1.9% to $109M but Gaming declined 2.3% to $257M. Net income rose 7.8% to $83M with diluted EPS at $1.16, and operating income increased 5.9% to $143M; however, total assets and cash equivalents remained stable at $7,485M and $200M respectively. Operating cash flow strengthened significantly 19.4% to $295M YoY.
- ·Long-term debt decreased $203M QoQ to $1,783M from $1,986M.
- ·Net cash used in investing activities improved to $61M from $80M YoY.
- ·Net cash used in financing activities was $232M, including $449M repayments.
- ·Shareholders' equity increased to $1,096M from $1,010M QoQ.
- ·Equity in income of unconsolidated affiliates rose to $36M from $33M YoY.
22-04-2026
Mesabi Trust (MSB) filed its 10-K annual report on April 22, 2026, presenting audited financial statements for the fiscal years ended January 31, 2026 and 2025. The filing includes balance sheets as of January 31, 2026 and 2025, statements of income, statements of unallocated reserve and trust corpus, and statements of cash flows for those periods. Additional sections cover the Trustees’ Report on Internal Control over Financial Reporting, the Independent Registered Public Accounting Firm's report, and Notes to Financial Statements on pages F-8 to F-14.
22-04-2026
Weatherford International plc reported Q1 2026 revenue of $1,152M, down 3.4% YoY from $1,193M, driven by declines in DRE (-8.3% to $321M) and PRI (-11.4% to $296M), while WCC was flat (+0.5% to $443M) and Other surged 35.3% to $92M. Net income increased 26.7% YoY to $109M amid lower restructuring charges, with operating cash flow at $136M (down 4.2% YoY) and operating income down 13.4% to $123M. Balance sheet improved QoQ with cash and equivalents up 2.6% to $1,012M, total equity up 3.7% to $1,759M, and total liabilities down 5.1% to $3,326M.
- ·DRE Adjusted EBITDA $72M (down 2.7% YoY from $74M)
- ·Capital Expenditures $54M (down 29.9% YoY from $77M)
- ·Net Cash Used in Financing Activities $56M (improved from $133M YoY)
- ·Comprehensive Income $96M (down 47.3% YoY from $182M)
22-04-2026
Community Health Systems, Inc. reported net operating revenues of $2,965 million for Q1 2026, down 6.1% YoY from $3,159 million, driven by declines in supplies (-9.8%) and other areas, though offset by gains on business sales. Operating income remained nearly flat at $281 million versus $284 million YoY, but higher taxes led to a net loss of $25 million compared to net income of $25 million prior year, with net loss to stockholders widening to $58 million from $13 million. Cash and equivalents rose to $712 million from $260 million at year-end, boosted by $1,108 million in proceeds from hospital dispositions, though operating cash flow swung to a $297 million use from $120 million provided.
- ·Long-term debt decreased to $10,127M from $10,380M at Dec 31, 2025.
- ·Patient accounts receivable increased to $2,139M from $2,077M at Dec 31, 2025.
- ·Total assets slightly down to $13,180M from $13,204M at Dec 31, 2025.
- ·Stockholders’ deficit widened to $1,225M from $1,159M at Dec 31, 2025.
22-04-2026
KKR Real Estate Finance Trust Inc. reported a significantly widened net loss of $57.2 million for Q1 2026, compared to $5.7 million in Q1 2025, primarily due to a $73.5 million provision for credit losses, up nearly 196% YoY, and a 16.4% decline in net interest income to $26.2 million amid a 10.1% QoQ drop in net commercial real estate loans to $4.63 billion. Total assets grew 7.5% QoQ to $6.95 billion, supported by $490 million in principal repayments and increased cash to $135.4 million (up 60% QoQ), while stockholders' equity declined 6.6% to $1.10 billion. Common dividends were maintained at $0.25 per share.
- ·Loan count decreased to 50 from 53 QoQ.
- ·98.6% of loans are floating rate with weighted average coupon of 7.0% and remaining life of 1.7 years as of March 31, 2026.
- ·Common stock repurchases: 92,094 shares in Q1 2026.
- ·Dividends declared per common share remained flat at $0.25.
22-04-2026
EastGroup Properties Inc. reported Q1 2026 revenues of $190.3M, up 9% YoY from $174.4M, driven by 10% growth in real estate operations income to $190.2M, while net income attributable to common stockholders surged 59% YoY to $94.6M, boosted by a $24.9M gain on real estate sales. However, other revenue dropped sharply to $22K from $1.8M YoY, interest expense increased 13% to $9.1M, and acquisitions were smaller at $38.1M compared to $143.1M in Q1 2025. Total assets reached $5.49B, up 1% QoQ, with operating cash flow rising 6% YoY to $142.3M.
- ·Common dividends declared: $83.6M ($1.55 per share)
- ·Net cash used in investing activities: $72.2M (improved from $76.1M YoY)
- ·Proceeds from common stock offerings: $69.3M
- ·Acquired assets in Q1 2025 totaled $143.1M for comparison
22-04-2026
Intuitive Surgical reported Q1 2026 total revenue of $2,770.8 million, up 23.0% YoY from $2,253.4 million, driven by 23.6% growth in product revenue to $2,337.1 million and 19.5% in services to $433.7 million; net income attributable to the company rose 17.6% YoY to $821.5 million. However, cash and equivalents declined sharply 40.4% QoQ to $2,006.5 million from $3,368.0 million, primarily due to a $1,123.2 million common stock repurchase and $528.2 million acquisition spending, resulting in total assets decreasing 1.7% QoQ to $20,111.0 million.
- ·Inventory increased to $1,945.1M as of March 31, 2026 from $1,840.0M at December 31, 2025.
- ·Share-based compensation expense rose to $209.5M in Q1 2026 from $185.2M in Q1 2025.
- ·Gain on sale of business and assets of $7.9M recorded in Q1 2026.
- ·Deferred income tax expense of $339.3M in Q1 2026 vs $0.1M in Q1 2025.
22-04-2026
For Q1 2026, Winning Catering Group reported zero revenue, a 100% YoY decline from $11,209, resulting in an operating loss of $66,219, significantly improved from $1,083,683 in Q1 2025. However, the company fully depleted its cash from $5,912 at year-end 2025 to $0, with total assets at $0 and stockholders' equity turning negative at $(60,307) due to a $60,307 due to related party liability. Cash used in operations was $5,912, matching the cash depletion.
- ·No cash paid for interest or taxes in Q1 2026.
- ·Weighted average common shares outstanding: 704,043,324 for both Q1 2026 and Q1 2025.
- ·Net cash provided by investing activities: $0 in Q1 2026 vs $470,000 in Q1 2025.
22-04-2026
Essential Properties Realty Trust, Inc. (EPRT) reported Q1 2026 total revenues of $158,798 thousand, up 22.8% YoY from $129,354 thousand, primarily driven by rental revenue growth of 22.7% to $149,392 thousand. However, basic EPS declined 6.7% to $0.28 from $0.30, reflecting a sharp 186% increase in provision for impairment of real estate to $16,830 thousand from $5,883 thousand, while interest expense rose 25.9% to $29,947 thousand. Total assets grew 4.2% QoQ to $7,153,123 thousand, supported by real estate investments, but cash and equivalents dropped to $15,176 thousand from $60,181 thousand.
- ·Net cash used in investing activities increased to $372,958 thousand from $284,109 thousand YoY, driven by $310,965 thousand in real estate investments.
- ·Common stock issuance of 6,231,352 shares raised $192,725 thousand net in Q1 2026.
- ·Revolving credit facility borrowings net $100,000 thousand outstanding as of Mar 31, 2026.
- ·Unrealized gain on cash flow hedges of $9,983 thousand contributed to comprehensive income.
22-04-2026
Elevance Health reported total operating revenue of $49,494 million for Q1 2026, up 1.5% YoY from $48,765 million, driven by growth in premiums (+0.3%), product revenue (+7.2%), and service fees (+8.5%), while net investment income rose 29.7% to $765 million. However, shareholders' net income declined 19.2% YoY to $1,764 million from $2,183 million, with diluted EPS falling to $8.00 from $9.61, primarily due to a 19.4% increase in operating expenses to $6,330 million. Operating cash flow improved significantly to $4,332 million from $1,017 million, and the company repurchased $1,124 million in common stock.
- ·Cash and cash equivalents increased to $9,657 million from $9,491 million at December 31, 2025.
- ·Medical claims payable rose to $18,425 million from $17,084 million at December 31, 2025.
- ·Net losses on financial instruments improved to $78 million loss from $464 million loss YoY.
- ·Share repurchases totaled $1,134 million including excise tax in Q1 2026.
22-04-2026
Travel + Leisure Co. reported Q1 2026 net revenues of $961M, up 3% YoY from $934M, driven by 11% growth in vacation ownership interest sales to $427M, though service and membership fees declined 5% to $396M. Net income rose 8% to $79M with diluted EPS of $1.22, up 14% YoY, but operating cash flow dropped sharply to $38M from $121M amid higher inventory changes and working capital outflows. Total debt increased to $3,648M from $3,474M at year-end 2025.
- ·Marketing expenses increased 14.5% YoY to $142M.
- ·Cost of vacation ownership interests rose 52% YoY to $35M.
- ·Non-recourse vacation ownership debt: $2,106M as of March 31, 2026 (VIE).
- ·Repurchased 1.2M common shares for $87M in Q1 2026.
- ·Dividends paid: $0.60 per share, totaling $38M (adjusted from table).
22-04-2026
Wabtec reported Q1 2026 net sales of $2,950 million, up 13% YoY from $2,610 million, with goods sales growing 17% to $2,531 million while services sales declined 7% to $419 million. Net income attributable to shareholders increased 12% to $362 million, or $2.12 per diluted share, and income from operations rose 9% to $517 million. However, cash and equivalents fell to $531 million from $789 million QoQ due to a $1,062 million acquisition, $242 million stock repurchases, and increased long-term debt to $4,708 million.
- ·Operating cash flow increased slightly to $199 million from $191 million YoY.
- ·Gross profit margin improved to 36.0% from 34.5% YoY.
- ·Weighted average diluted shares outstanding decreased to 170.7 million from 171.3 million YoY.
- ·Stock repurchases involved 1.0 million shares at a cost of $243 million (adjusted in equity table).
22-04-2026
BestGofer Inc. reported its first quarterly revenue of $2,231 for the three months ended February 28, 2026, a significant improvement from $0 in the prior year, alongside a reduced net loss of $1,001 versus $14,072 YoY, driven by sharp cuts in operating expenses. However, the company continues to operate at a loss, with cash and cash equivalents declining 40% QoQ to $1,924 from $3,202, and stockholders' deficit worsening slightly to $(25,296) from $(24,295). Total assets grew modestly 1.2% QoQ to $117,920, but current liabilities increased to $143,216.
- ·Accounts receivable declined to $0 from $779 QoQ.
- ·Due from related party increased to $24,742 from $21,242 QoQ.
- ·Bad debt expense of $779 recognized in Q1 2026.
- ·Advances to Former Director (related party) of $3,500 in investing activities.
- ·Entity is a small business and emerging growth company, incorporated in NV with operations in Jerusalem, IL.
22-04-2026
Hestia Insight Inc. reported net income of $3,152 for the three months ended February 28, 2026, a significant turnaround from a $392,295 net loss in the prior year period, driven by a $45,781 gain in fair value of investments offsetting a $39,326 operating loss; however, revenue remained at $0 in both periods, operating expenses declined 64% YoY but still resulted in an operating loss, and cash decreased 41% QoQ to $17,084 amid ongoing cash used in operations. Total assets grew 9% QoQ to $429,122, primarily from higher investments, while total liabilities rose 11% to $309,088 due to increased related party debt, and stockholders' equity improved slightly to $120,034.
- ·Related party loan payable increased to $198,931 from $173,931 QoQ.
- ·Net cash used in operating activities was $36,787, similar to $36,047 prior year.
- ·Proceeds from related party loan: $25,000 in the current period.
22-04-2026
AZZ Inc's FY2026 total sales increased 4.6% YoY to $1,650,080 thousand, driven by 14.0% growth in Metal Coatings sales to $758,709 thousand, while Precoat Metals sales declined 2.4% to $891,371 thousand. Net income surged 146% to $317,260 thousand due to $204.5 million in gains from AVAIL JV asset sales (EPG and WSI), though adjusted net income rose a more sustainable 19% to $187,122 thousand; adjusted EBITDA grew 5.7% to $367,559 thousand. Operating cash flow more than doubled to $525,446 thousand, but the company incurred $3.8 million in restructuring charges for Metal Coatings facility closures.
- ·Infrastructure Solutions segment reported no sales but $209,733 thousand pre-tax income in FY2026 primarily from AVAIL JV equity earnings including gains offset by impairments and adjustments.
- ·Interest expense decreased to $55,650 thousand in FY2026 from $81,282 thousand in FY2025.
- ·FY2026 SG&A includes $2.2 million stock-based compensation from Executive Retiree LTI Program.
- ·Adjusted EPS FY2026: $6.19 vs FY2025: $5.20.
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