Forterra H1 Earnings Call Highlights

Painter said the company's pricing actions helped protect Specialty profitability amid volatile oil-derived feedstock costs. However, he cautioned that Specialty typically experiences some seasonal weakness in the third quarter, particularly because Europe is an important market and holiday periods affect demand. He also said that some benefits from pricing timing in the second quarter may not continue into the third quarter. The company said coatings demand was notable despite softness in global automotive original-equipment build rates. Orion cited growth in marine, protective and industrial coating applications. Wire-and-cable sales also increased at a double-digit rate, aided by newer conductive grades and energy and infrastructure market demand. Specialty volume growth included nearly 10% growth in both Europe, the Middle East and Africa and the Americas. Demand was broad-based across end markets, with mid-single-digit growth in engineered plastics and double-digit gains in coatings, wire and cable, packaging and battery-related products, according to Puckett. Specialty adjusted EBITDA reached $39 million in the second quarter, rising 96% year over year and representing the segment's strongest quarterly performance since early 2022. Chief Financial Officer Jon Puckett said the increase reflected a 5% rise in Specialty volumes, proactive pricing actions and favorable product mix. Chief Executive Officer Corning Painter said the company executed well during an "extraordinary time," citing demand strength in Specialty products, targeted pricing actions, improved plant reliability and working-capital initiatives. Orion generated $2 million in free cash flow in the second quarter, supported by $27 million of operating cash flow and lower capital expenditures. Orion (NYSE:OEC) reported second-quarter adjusted EBITDA of $58 million, up 26% sequentially but down 15% from a year earlier, as strong Specialty segment results were partly offset by lower Rubber segment contractual pricing. The company reaffirmed its full-year 2026 adjusted EBITDA guidance of $170 million to $210 million and raised its free-cash-flow outlook, now expecting slightly positive free cash flow at the midpoint of its range. Story Continues Rubber Results Reflect Contract Pricing, Inventory Actions → No Hangover: Revisiting Microsoft One Week After Earnings Rubber segment adjusted EBITDA was $19 million, down 61% from the prior-year quarter and flat sequentially. Puckett attributed the year-over-year decline primarily to lower 2026 contractual price agreements, as well as unfavorable customer mix and absorption effects from deliberate inventory reductions. While tire production rates remain below historical norms in Orion's key regions, the company said tire sell-through has exceeded build rates and tire imports have been declining. Painter said the North American carbon black spot market was strong during the quarter, with demand exceeding Orion's ability to accept incremental orders in some cases. "It is not our intent to hold capacity to back up competitors," Painter said, referencing the company's closure of several reactor lines last year. Management pointed to trade and regulatory developments as potentially favorable for local tire manufacturing. The European Commission finalized anti-dumping duties ranging from 24% to 45% on Chinese tire exports, excluding one exporter. Orion said Chinese tire imports into the European Union had dropped 75% from their earlier peak when the duties were initially expected. U.S. tire imports also declined year over year in each of the past four months, according to Painter. The company also cited announced investments by at least three global tire manufacturers in North American production facilities. Painter said plant closures should be viewed alongside manufacturers' efforts to modernize and expand their most competitive operations. Working Capital Progress Supports Cash Flow Outlook Orion said working capital provided $4 million of cash in the second quarter despite average oil-derived feedstock costs rising about 29% from the first quarter. Puckett said that, without mitigation, the increase in average feedstock costs would have represented an approximately $60 million working-capital headwind. Inventory reductions and improved vendor payment terms more than offset that impact, management said. Capital expenditures declined $11 million sequentially to $25 million, helping produce the quarter's positive free cash flow. At quarter-end, Orion had net debt of $961 million, modestly below the first-quarter level. Its net debt-to-adjusted EBITDA ratio was 4.4 times, and liquidity totaled $178 million. Painter said Orion remains on track to achieve $20 million in annualized gross benefits from cost measures spanning headcount, procurement and efficiency programs. The company is also targeting a third consecutive year of improved plant reliability, supported by operational-excellence efforts and maintenance capital spending focused on high-impact projects. Guidance Retained Amid Limited Visibility Orion's full-year outlook assumes crude oil prices average $80 per barrel during the second half of 2026. The company said its revised free-cash-flow outlook represents a $43 million full-year improvement, driven largely by working-capital actions that reduced the effects of higher feedstock costs. Management said its current guidance includes its best estimate for the timing of European emissions-credit developments, which Painter said are now expected to emerge in the third quarter. Painter said the company has limited visibility into second-half customer orders but believes its local-for-local production model, supply-chain flexibility and customer focus position it to navigate continued macroeconomic and geopolitical uncertainty. About Orion (NYSE:OEC) Orion Engineered Carbons SA, operating as Orion (NYSE: OEC), is a global producer of carbon black, a critical performance additive used to enhance the strength, durability and conductivity of various materials. The company's products chiefly serve the tire and rubber industry, where carbon black imparts wear resistance and longevity, as well as the plastics, coatings, inks and battery components markets, where specialty grades deliver tailored conductivity and color properties. Orion's product portfolio is organized into two core segments: Rubber and Specialty and Chemical Specialties. 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 contact@marketbeat.com. The article "Orion Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Non-GAAP earnings per share were $8.38, compared with $6.31 in the prior-year quarter. The second-quarter figure included $3.03 in acquired in-process research and development charges. Lilly's non-GAAP performance margin was 54.8%, up 9 percentage points from a year earlier, while gross margin reached 86.3%. Chief Financial Officer Lucas Montarce said second-quarter revenue rose 48% from the same period in 2025. MOUNJARO and ZEPBOUND combined for $14.9 billion in revenue, contributing $6.3 billion of year-over-year growth. "We delivered strong business results, received regulatory approval for new indications, shared positive phase III trial results, added new medicines to our pipeline, and expanded access to medicines for patients," Ricks said. As Employers Drop Obesity Drug Coverage, Hims & Hers Could Be the Winner Chair and CEO Dave Ricks said the company delivered growth across key products and major geographies, advanced its pipeline and added assets through business development. Lilly said its key products increased by nearly $6.8 billion during the quarter, while its oncology, immunology and neuroscience medicines collectively grew 121% from the prior-year period. Eli Lilly and Company (NYSE:LLY) reported 48% revenue growth in the second quarter of 2026, driven primarily by continued demand for its cardiometabolic medicines MOUNJARO and ZEPBOUND, while raising its full-year revenue and earnings guidance. Lilly reported positive Phase III results for experimental medicine retatrutide and plans to seek U.S. approval in the first quarter of 2027. The company also expanded its pipeline through acquisitions in infectious disease, mental health and neuroscience, while investing in new manufacturing facilities. Demand for obesity medicines remained strong, with U.S. obesity prescriptions up 78% year over year. Lilly said the Medicare GLP-1 Bridge Program expanded coverage for its obesity medicines by 35%, while Foundayo's launch continued gaining prescribers and international approvals. Lilly reported 48% year-over-year revenue growth in Q2 2026, with MOUNJARO and ZEPBOUND generating $14.9 billion in combined sales. The company raised its full-year revenue outlook to $85 billion–$87 billion and adjusted earnings-per-share guidance to $35.50–$36.50. Story Continues U.S. revenue increased 33%, primarily on volume growth for ZEPBOUND and MOUNJARO as well as contributions from the company's immunology, oncology and neuroscience portfolio. U.S. price declined 3%; excluding changes to estimates for rebates and discounts, price declined 9%, Montarce said. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High Outside the U.S., revenue rose 55% in constant currency in Europe, aided by MOUNJARO volume growth and a $250 million Jardiance milestone payment. Revenue grew 30% in Japan, 93% in China and 136% in the rest of the world on a constant-currency basis, with MOUNJARO a principal driver. Lilly raised its full-year 2026 revenue outlook to $85 billion to $87 billion, increasing the low end by $3 billion and the high end by $2 billion. It now expects a non-GAAP performance margin of 49% to 50.5% and non-GAAP earnings per share of $35.50 to $36.50. Montarce said the guidance incorporates certain factors that could affect quarterly comparisons, including prior-period adjustments to U.S. rebate and discount estimates, European vacation-related seasonality in the third quarter, and fourth-quarter seasonality in the U.S. Type 2 diabetes market. Incretin demand, Foundayo launch and Medicare access Lilly said the U.S. incretin analog market grew 31% in prescriptions from the second quarter of 2025, with obesity prescriptions increasing 78%. In the U.S. obesity market, Lilly medicines accounted for approximately six out of 10 total prescriptions and about seven out of 10 injectable prescriptions, according to the company. Self-pay remained an important component of ZEPBOUND demand, accounting for about 45% of total prescriptions and approximately 55% of new prescriptions in the quarter. The company also highlighted the July 1 launch of the Medicare GLP-1 Bridge Program, which it said provides 20 million eligible Americans with insurance coverage for GLP-1 obesity medicines at an out-of-pocket cost of $50 per month. Ricks said the program expanded U.S. coverage for Lilly obesity medicines by 35%. Ilya Yuffa, president of Lilly USA and Global Customer Capabilities, said Lilly was seeing an inflection in demand for both injectable and oral medicines following the program's launch. He estimated that roughly 80% of patients obtaining treatment through the early rollout were using injectables, while 60% to 70% were new to therapy. Foundayo, the company's oral medicine, continued its U.S. launch. Lilly said it completed the U.S. submission for Type 2 diabetes and expects regulatory action later this year. Yuffa said the company had expanded Foundayo access, began direct-to-consumer promotion and increased its U.S. prescriber base from 8,000 at the prior earnings call to 36,000. Foundayo received obesity approvals in the United Arab Emirates and Saudi Arabia and approvals for obesity and Type 2 diabetes in Mexico. Patrik Jonsson, president of Lilly International, said most international launches are expected in 2027, with Foundayo under regulatory review in more than 40 markets. Pipeline milestones include retatrutide results Chief Scientific and Product Officer Dan Skovronsky said Lilly reported positive results from three phase III retatrutide trials in obesity. Across the TRIUMPH program, the company cited weight loss as well as improvements in A1C, cardiovascular risk factors, osteoarthritis pain and sleep apnea. Lilly said it now has the clinical data package to support global registrations for retatrutide in obesity, obstructive sleep apnea and knee osteoarthritis pain. Ricks said the company plans to submit the medicine in the U.S. in the first quarter of 2027 through the biologics license application, or BLA, pathway, though he noted the company remains in active litigation and discussions with the FDA on that classification. Other pipeline and regulatory developments included: FDA approval of Ebglyss maintenance dosing once every eight weeks for atopic dermatitis. A positive European CHMP opinion for once-weekly insulin efsitora alfa, proposed under the trade name Onswik, for Type 2 diabetes. European approval for Jaypirca in chronic lymphocytic leukemia across all lines of therapy. Phase III data showing pirtobrutinib added to venetoclax and rituximab reduced the risk of disease progression or death by 45% in the overall BRUIN CLL-322 study population. Phase III data showing selpercatinib reduced the risk of recurrence or death by 83% versus placebo in adjuvant RET fusion-positive non-small cell lung cancer. Business development and manufacturing expansion Lilly announced agreements to acquire Curevo, LimmaTech Biologics and The Vaccine Company to build an infectious-disease prevention platform. The company also acquired AtaiBeckley, which is developing treatments for treatment-resistant depression and other mental health conditions, and completed its Centessa acquisition, adding cleminorexton to its neuroscience pipeline. Jake Van Naarden, president of Lilly Oncology and head of business development, said the transactions were focused on areas with substantial unmet need and assets Lilly believes can create long-term value. He said the company expects to remain opportunistic in business development while maintaining discipline. Ricks also said Lilly opened its first dedicated genetic medicine manufacturing facility in Lebanon, Indiana, and produced its first batch of commercial material at a new site in Limerick, Ireland. During the second quarter, the company distributed $1.5 billion in dividends and repurchased $1.6 billion of shares. About Eli Lilly and Company (NYSE:LLY) Eli Lilly and Company (NYSE: LLY) is a global pharmaceutical company founded in 1876 and headquartered in Indianapolis, Indiana. The company researches, develops, manufactures and commercializes a broad range of medicines and therapies for patients worldwide. Eli Lilly maintains operations and commercial presence across North America, Europe, Asia and other regions, serving both developed and emerging markets. The company has been led in recent years by President and Chief Executive Officer David A. 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 contact@marketbeat.com. The article "Eli Lilly and Company Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Kinetik now expects mid- to high-single-digit year-over-year volume growth in 2026, compared with its previous expectation for low- to mid-single-digit growth. The company anticipates average curtailments of roughly 25 million cubic feet per day during the second half, compared with the estimated 250 million cubic feet per day curtailed during the second quarter. More favorable commodity-price assumptions, including nearly 30% higher WTI pricing and nearly 20% higher liquids pricing versus assumptions used in February guidance. Kinetik increased its full-year 2026 Adjusted EBITDA forecast to $1.04 billion to $1.1 billion. At the midpoint, the revised outlook is 7% above the company's original February forecast and represents approximately 15% year-over-year pro forma growth after accounting for the divestiture of its EPIC Crude interest, according to Howard. Processed natural gas volumes were 1.74 billion cubic feet per day during the quarter, flat from a year earlier despite an estimated 250 million cubic feet per day of Waha-price-related production curtailments. Howard said results benefited from operating performance, improved NGL recoveries and condensate yields, optimization efforts, and favorable commodity prices and spreads. The company reported second-quarter Adjusted EBITDA of $281 million, distributable cash flow of $195 million and free cash flow of $105 million. Senior Vice President and Chief Financial Officer Trevor Howard said Midstream Logistics Adjusted EBITDA rose 35% from a year earlier to $205 million, while Pipeline Transportation Adjusted EBITDA was $83 million. Kinetik (NYSE:KNTK) reported what President and Chief Executive Officer Jamie Welch described as the strongest financial results in the company's history for the second quarter of 2026, citing operating execution, system performance and a supportive commodity-price environment. The company raised its full-year Adjusted EBITDA guidance by $70 million at the midpoint and increased its capital spending outlook as it prepares for continued customer activity across the Permian Basin. Story Continues → 4 Oil and Gas ETF Plays as Prices Stay Sky-High Howard said Kinetik expects to exit 2026 with processed gas volumes approaching 2.2 billion cubic feet per day, with no fourth-quarter curtailments assumed. He clarified during the question-and-answer session that the 2.2 Bcf/d figure represents a fourth-quarter average. Kinetik expects third-quarter Adjusted EBITDA of $260 million to $270 million and fourth-quarter Adjusted EBITDA of $270 million to $280 million. Capacity Expansion and Downstream Market Access Welch said customer activity has continued to build across the company's footprint, with more than 60% of the Permian rig-count growth since February occurring in the Delaware Basin. He said the recovery in Waha pricing from earlier dislocations reduced producer curtailments beginning in mid-June, while a more constructive crude-price environment supported producer development economics. The company reached a final investment decision in May on Kings Landing 2, or KL2, and subsequently increased its planned processing capacity by 50% to 300 million cubic feet per day. Kinetik has purchased cryogenic processing, amine and residue compression equipment for the project and now expects it to enter service in mid-2028, earlier than previously communicated. Once completed, KL2 is expected to lift Delaware North sour-gas processing capacity above 700 million cubic feet per day and take Kinetik's systemwide processing capacity above 2.7 Bcf/d. The company also received board authorization to procure long-lead equipment for its next processing-capacity expansion and sanctioned work to expand the ECCC pipeline. Management said it is evaluating interim offload options and optimization projects as volumes build ahead of KL2's startup. Welch said the company is examining center-block rebuilds and other plant upgrades, while Chief Operating Officer Matt Wall said residue-compression upgrades and expander-center-section changes could add roughly 10% to 15% above nameplate capacity at cryogenic plants in Delaware South. Kinetik also entered agreements for additional firm residue-gas access to Gulf Coast markets beginning in 2027, along with residue-gas and NGL transportation agreements supporting its Delaware North processing complexes. Welch said the agreements are intended to reduce customers' exposure to volatile in-basin pricing and offer greater access to premium end markets. Higher Capital Program Supports Customer Development Kinetik raised its 2026 capital expenditure guidance, including maintenance capital, to approximately $560 million. The increase includes spending on KL2, optimization initiatives, compression equipment, ECCC expansion right-of-way, long-lead equipment for a future cryogenic plant, and accelerated growth projects associated with customer development plans in late 2026 and early 2027. Howard said much of the incremental 2026 development-related spending is tied to Delaware South, where new wells can be planned and connected more quickly than in New Mexico. He added that Kinetik is already planning for producer activity extending through 2028 and beyond. Welch said Kinetik sees a "prudent paradigm" for capital investment given the returns available from infrastructure projects. Howard said capital expenditures could remain around current levels as long as customer forecasts support construction of roughly one cryogenic plant at a time. Leverage, Dividend Coverage and Operations At the end of the quarter, Kinetik reported leverage of 3.8 times and liquidity exceeding $1 billion. Howard said the company expects leverage to decline by year-end despite its elevated capital program and remains within its target leverage range of 3.5 times to 4 times. The company paid a second-quarter dividend of $0.81 per share in late July. Dividend coverage improved to approximately 1.5 times from 1.2 times for full-year 2025. Management reaffirmed its framework for annual dividend growth of 3% to 5% on a base-case basis, with the potential for growth in line with cash flow once coverage reaches 1.6 times or more. Welch attributed operational outperformance partly to multiyear work on the acquired Durango system, including pipe and facility repairs, measurement improvements, reliability work and efforts to reduce fuel, loss and unaccounted-for volumes. Wall said the company expects system performance to plateau at improved levels rather than continue making large gains, though management does not expect performance to move backward. Separately, Kinetik said the ECCC Pipeline has entered service, creating a north-to-south connection across the western part of its system between Eddy and Culberson counties. The company expects rich-gas volumes on the pipeline to rise through the rest of the year as Kings Landing reaches full utilization. Its Kings Landing acid-gas injection and sour-conversion project remains on track for first-phase service by year-end, while the 40-megawatt Diamond Volt behind-the-meter power project is expected to enter service in the second quarter of 2027. About Kinetik (NYSE:KNTK) Kinetik (NYSE: KNTK) is a publicly listed midstream energy company focused on the development, operation and management of natural gas infrastructure across the United States. The company's core business activities include the gathering, compression, processing, storage and transportation of natural gas, serving producers, utilities and industrial consumers. By integrating a suite of midstream services under a single platform, Kinetik aims to provide efficient, cost-effective and reliable solutions across the natural gas value chain. The company was established in 2021 when assets were acquired from Talen Energy by a subsidiary of ArcLight Capital Partners, forming a comprehensive portfolio of pipelines, compression facilities and underground storage assets. 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 contact@marketbeat.com. The article "Kinetik Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Prepared Food and Beverage Solutions revenue was flat from the prior-year quarter, despite an approximately 2% foreign-exchange benefit. Chief Financial Officer Matt Meister said equipment revenue in the segment fell short of expectations because of logistics constraints and production inefficiencies tied to manufacturing-footprint optimization efforts. Protein Solutions revenue increased 11% year over year to $467 million, including 8% organic growth. Chief Executive Officer Brian Deck said poultry remains the company's largest and strongest protein category, while pork and fish markets showed modest strength. Beef was the weakest category because limited cattle inventories have constrained processor investment, though Deck said beef represents less than 5% of the Protein Solutions portfolio. Second-quarter revenue rose 5% from a year earlier to $981 million, including 3% organic growth and a 2% favorable foreign-exchange impact. Adjusted EBITDA was $168 million. The company maintained its full-year 2026 revenue and adjusted EBITDA guidance, though it expects a steeper improvement in fourth-quarter results than in the third quarter. JBT Marel (NYSE:JBTM) reported continued order strength in the second quarter of 2026, with orders rising 10% year over year and exceeding $1 billion for the third consecutive quarter. Management said the results reflected solid poultry-industry investment, growth in prepared foods demand and cross-selling opportunities created by the combination of JBT and Marel. Integration and restructuring initiatives are progressing, with facility consolidations expected to generate $25 million to $30 million in annual savings by 2028. The company also reported $179 million in year-to-date free cash flow and ended the quarter with net leverage just below 2.5 times. Protein Solutions delivered 11% revenue growth, led by poultry, but Prepared Food and Beverage revenue was flat due to logistics delays and manufacturing inefficiencies. Management expects the approximately $20 million revenue shortfall to shift into the second half of the year. JBT Marel's orders remained strong , rising 10% year over year and exceeding $1 billion for the third consecutive quarter. Second-quarter revenue increased 5% to $981 million, while the company maintained its full-year 2026 guidance. Story Continues → 3 Drone Stocks That Should Soar After the Summer Slump Deck said the company was about $20 million below its expected second-quarter revenue level, excluding foreign exchange, entirely within the Prepared Food and Beverage segment. About half of that amount was associated with delayed shipments caused by logistics availability, while the other half stemmed from production inefficiencies related to facility moves. The company expects to redistribute that revenue across the second half of the year. Management said the shortfall also weighed on segment profitability. Deck estimated that the deferred revenue reduced quarterly EBITDA by roughly $5 million to $6 million, based on expected margin flow-through. Meister said Prepared Food and Beverage margins are expected to improve by approximately 25 to 50 basis points year over year in the third quarter, followed by about another 100 basis points of improvement in the fourth quarter. Tariffs, Inflation and Warehouse Automation Restructuring → Why Rare Earth Processing Could Be the Real 2027 Opportunity Second-quarter adjusted EBITDA included $17 million in refunds related to IEEPA tariffs. That benefit was partially offset by $4 million in higher-than-expected tariff expense associated with prior years and $5 million in accelerated long-term incentive compensation expense. Meister said higher logistics, metals and other input costs continued to pressure margins. The company has implemented pricing actions, but Deck said inbound and intercompany logistics costs are more difficult to pass through to customers. JBT Marel spends more than $100 million annually on logistics, with roughly 60% to 65% tied to inbound and intercompany activity, according to Deck. Protein Solutions adjusted EBITDA margins improved from a year earlier, helped by poultry volume leverage, synergies and continuous-improvement efforts. However, Deck said the segment's approximately 24% second-quarter margin included about 200 basis points of benefit from tariff refunds. He expects margins in the low-to-mid-20% range during the second half, with a higher equipment mix partially offsetting aftermarket profitability. The company also restructured its warehouse automation business, citing product standardization progress that will allow it to deploy engineering resources more efficiently and consolidate two facilities into one. Meister said the actions are expected to generate about $9 million in annual savings, including approximately $3 million during the second half of 2026. JBT Marel recorded a non-cash impairment charge during the quarter to write off intangibles related to its 2021 acquisition of Provenio. Meister said the charge reflected a shift in poultry customers' demand away from Provenio's value-added antimicrobial offering toward a more commodity-based approach. Integration Savings and Footprint Changes President Arni Sigurdsson said cross-selling initiatives generated $45 million in synergy orders during the first six months of 2026 and $75 million over the past 18 months. He cited a multi-line poultry order that combined forming, coating, frying and heating technologies for fully cooked retail chicken products. The company has announced facility consolidations totaling approximately 1.3 million square feet, including 1.1 million square feet of manufacturing and distribution capacity and 200,000 square feet of office space. The reductions represent about 15% of JBT Marel's global footprint, with nearly 80% of the manufacturing-space reductions affecting the Prepared Food and Beverage segment. Sigurdsson said the initiatives are expected to produce $25 million to $30 million in annualized savings by 2028, above the company's original estimate of $10 million to $15 million. About $4 million to $5 million of savings is included in the 2026 forecast. The company also expects a cash benefit from real-estate asset sales in 2027 or 2028. Management said facility moves will be phased through the end of 2027. Deck said two larger consolidations are planned for 2027, one to be completed by midyear and another by year-end. Meister said the 2027 transitions should be smoother because production is generally being consolidated into facilities that already manufacture the relevant products. Outlook Maintained For the third quarter, JBT Marel forecast organic revenue growth of 2% to 4%, partially offset by a 1% foreign-exchange headwind, and adjusted EBITDA margins of 17% to 17.5%. Management said its record backlog provides visibility into more than 90% of second-half equipment revenue. At the midpoint of full-year guidance, the company expects consolidated revenue growth of 6% and adjusted EBITDA margin expansion of 145 basis points. It also refined adjusted earnings-per-share guidance to reflect updated depreciation, amortization and tax-rate assumptions, without providing figures on the call. JBT Marel generated $179 million in year-to-date free cash flow, equivalent to 58% conversion of adjusted EBITDA. Net leverage ended the quarter just below 2.5 times, within the company's target range of 2 times to 2.5 times. Management said it would remain focused on integration while evaluating debt reduction and opportunistic share repurchases under its previously announced $200 million buyback authorization. Deck said the company continues to target a 20% adjusted EBITDA margin in 2028, supported by integration, supply-chain optimization, pricing and lower-cost manufacturing initiatives. About JBT Marel (NYSE:JBTM) JBT Marel Corporation provides technology solutions to food and beverage industry in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers value-added processing that includes chilling, mixing/grinding, injecting, blending, marinating, tumbling, flattening, forming, portioning, coating, cooking, frying, freezing, extracting, pasteurizing, sterilizing, concentrating, high pressure processing, weighing, inspecting, filling, closing, sealing, end of line material handling, and packaging solutions to the food, beverage, and health market. 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 contact@marketbeat.com. The article "JBT Marel Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

The company used proceeds from the sale to reduce debt. Total debt declined to €554 million from €631 million, while net leverage fell to 2.77 times. Stabilus also renegotiated its debt covenants, increasing its maximum leverage ratio to 4.0 for fiscal 2026 and 3.9 throughout 2027, compared with a previous maximum of 3.5. Management said the businesses had been successful assets, with margins in the range of 30%, but were not a close fit with Stabilus' strategy of focusing on electromechanical systems, intelligent motion control and automation. The divested operations primarily supplied vibration-management and mechanical-motion components, including rubber and plastic mounts. Stabilus completed the sale of its Tech Products and Fabreeka businesses to VMC Group, with signing on May 7 and closing on June 23, 2026. The transaction had an enterprise value of €92 million. The company said revenue was approximately 4% to 4.5% below the prior-year quarter, while adjusted EBIT margin rose from 10.5% a year earlier. Management attributed the margin improvement to efficiency programs and a larger contribution from its industrial operations. Stabilus (ETR:STM) said third-quarter revenue was close to €300 million and adjusted EBIT margin improved to 10.8%, despite lower sales tied largely to weakness in China and continued pressure in automotive markets. Industrial growth offsets weakness: Industrial revenue grew organically by more than 8%, including 35% growth in aerospace, marine, rail and defense, while automotive declined about 15% and Asia-Pacific revenue fell 18% amid China-related weakness and pricing pressure. The company also expects initial low-single-digit million-euro revenue from humanoid-robot actuators next year through its Synapticon partnership. Deleveraging and outlook: The €92 million sale of Tech Products and Fabreeka reduced total debt to €554 million and net leverage to 2.77 times. Stabilus maintained fiscal-year guidance for roughly €1.15 billion in revenue, an adjusted EBIT margin around 10% or slightly above, and approximately €90 million in free cash flow. Third-quarter performance: Revenue fell approximately 4%–4.5% year over year to nearly €300 million, but adjusted EBIT margin improved to 10.8% from 10.5%, supported by efficiency measures and stronger industrial operations. Story Continues Management said the expanded covenant headroom was intended to provide additional flexibility amid uncertain market conditions and followed feedback from investors, analysts and shareholders. Industrial business offsets automotive weakness → Amazon's Earnings Beat Shows Why AWS Is Back at the Center of the Bull Case Stabilus reported organic revenue growth of more than 8% in its industrial business during the third quarter, compared with an organic decline of about 15% in automotive. Management said the industrial segment now produces the majority of company profits because of its stronger margin profile. Growth areas cited by the company included independent aftermarket distribution, commercial vehicles, energy and construction, and aerospace, marine, rail and defense. Stabilus said aerospace, marine, rail and defense revenue grew by about 35%. Management said the company's earlier acquisition of DESTACO has supported both margins and sales opportunities in industrial markets. It also highlighted door-actuation launches with Xiaomi in China and BMW's X5 series in Europe. Production for the Xiaomi program is expected to begin in August, while BMW activity was also building through the summer, according to management. In defense, Stabilus said work on remote-handling equipment for rocket and nuclear propulsion systems was progressing in line with forecasts. Robotics partnership advances Stabilus said it is working with Synapticon on smart rotary actuators for humanoid robots. Stabilus holds more than 10% of Synapticon's shares and invested a low-single-digit million euro amount in the collaboration, management said. Synapticon is contributing motion-control software and safety functions, while Stabilus is focused on mass production of the robot-joint hardware. Management said the partners have begun sending initial hardware and software samples to customers and are jointly marketing the applications to robotics suppliers and manufacturers. The company said a humanoid robot may require about 30 rotary actuators, with units used across its joints. Stabilus expects first humanoid-related sales next year, initially in the low-single-digit million euro range. Management described current activity as sample production rather than meaningful revenue in the present fiscal year. Management estimated that, at a more mature stage, a robot joint could carry a value of roughly €100 to €250, though it cautioned that the estimate depends heavily on production volumes. Stabilus said the hardware portion could account for around 60% to 70% of the value created in the partnership, with software accounting for the remainder. China and automotive conditions remain challenging Stabilus said Asia-Pacific was affected by soft economic conditions in China, particularly in vehicle segments with higher technical content where its POWERISE products are used. The company reported an 18% year-over-year decline in Asia-Pacific revenue and said price erosion in China remained in the range of 5% to 6%. Management said overall light-vehicle production was relatively flat, but growth was concentrated in smaller vehicle segments with lower product fitment for Stabilus. The company also cited weaker volumes from Western automakers and higher-end vehicle producers, including the impact of weaker demand for Volkswagen in China. Stabilus expects pricing pressure in China to continue but said it is pursuing technical changes and cost-reduction measures to defend margins. The company said it also plans to further develop industrial business in China. For the third quarter, Stabilus reported adjusted EBIT of about €32.2 million. Nine-month adjusted EBIT margin was 10.7%, while year-to-date organic sales were down nearly 6%, according to management. Foreign exchange had a 2.2% negative impact over the first nine months, though the company said the third-quarter effect was more limited at 0.6%. Cost savings and fiscal-year outlook Management said its personnel-related transformation measures have been completed, while organizational and location-related initiatives remain in execution. The company reported €15.4 million in cost savings over the first nine months, compared with €7.3 million in cash outflows related to restructuring. Expected savings for fiscal 2027: €19 million Expected recurring savings for fiscal 2028: €32 million Year-to-date capital expenditure as a share of revenue: 5.8% Stabilus said it is also working to lower inventories and manage working capital through biweekly calls with operating entities. Management noted that the shift toward industrial markets can require higher inventories and involve longer payment terms than automotive operations. The company narrowed, but maintained within its prior range, its fiscal-year guidance. Stabilus expects revenue of about €1.15 billion, adjusted EBIT margin of around 10% or slightly above, and free cash flow of approximately €90 million. Its fiscal year ends in September, leaving August and September as the final two months of the reporting period. About Stabilus (ETR:STM) Stabilus SE, together with its subsidiaries, engages in the manufacture and sale of gas springs, dampers, vibration isolation products, and electric tailgate opening and closing equipment in Europe, the Middle East, Africa, North and South America, the Asia-Pacific, and internationally. Its products are used in automotive, navy and railways, commercial vehicles, aerospace, marine and rail, energy and construction, mechanical engineering, industrial machinery and automation, health, recreation, leisure, and furniture industries. 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 contact@marketbeat.com. The article "Stabilus Q3 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Vulcan reaffirmed its full-year adjusted EBITDA guidance of $2.4 billion to $2.6 billion. Management continues to expect modest aggregates shipment growth in 2026, supported by public infrastructure activity and private large-project construction, while residential construction remains weak. "Our teams executed well, earning higher prices for our products in each segment and driving operational efficiencies to help offset inflationary increases in our input costs," Pruitt said. Freight-adjusted aggregates selling prices increased both sequentially and from the prior year. On a mix-adjusted basis, average selling prices rose 5% year over year, with gains across geographies. Excluding diesel, freight-adjusted unit cash costs of sales increased 3%. Chief Executive Officer Ronnie Pruitt said the company's aggregates-focused business demonstrated resilience during inflationary pressures. Aggregates shipments rose 1% from a year earlier, though results varied by geography because of weather conditions. Aggregates cash gross profit per ton exceeded $12 and increased $0.14 year over year. Vulcan Materials (NYSE:VMC) said second-quarter adjusted EBITDA was $654 million, roughly in line with the prior-year period, as higher prices and operating efficiencies helped offset nearly $40 million in energy-related headwinds. The company returned more than $500 million to shareholders in the first half, including $400 million in buybacks, while continuing acquisitions focused on aggregates. In its Mexico arbitration, the tribunal found multiple NAFTA violations but awarded Vulcan only immaterial damages. Vulcan maintained full-year adjusted EBITDA guidance of $2.4 billion to $2.6 billion , supported by public infrastructure, highways, data centers and other large projects, though residential construction remains weak. Management expects pricing realization to approach the upper end of its 4%–6% target range by year-end and margins to improve in the second half. Q2 adjusted EBITDA was $654 million , roughly flat year over year, as higher pricing and operating efficiencies offset nearly $40 million in energy-related costs. Aggregates shipments rose 1%, while mix-adjusted selling prices increased 5%. Story Continues Pruitt said the company entered the year with healthy backlogs and continued to see healthy backlogs and robust quoting activity. He cited favorable trends in public highways, public infrastructure, data centers, manufacturing projects, liquefied natural gas projects and power infrastructure. → MarketBeat Week in Review – 07/27- 07/31 Trailing-12-month highway awards in Vulcan's markets were up double digits from a year earlier, while public infrastructure awards in those markets increased 20%, according to the company. Pruitt said Vulcan's footprint is aligned with data-center activity and associated power-generation and power-infrastructure investment. Residential construction, particularly single-family activity, remains constrained by affordability, management said. Warehousing activity was broadly flat, although Pruitt said the company has seen limited "green shoots" in specific markets. Management expects large projects to contribute to shipments on a gradual, ongoing basis rather than producing major swings in volume. Pruitt characterized the outlook as "slow and steady," noting that project schedules determine when customers take delivery of material. Pricing and Costs Expected to Improve in the Second Half Management said pricing is tracking its plans, with price realization expected to move toward the upper end of its previously discussed 4% to 6% range by year-end. Vulcan pulled some midyear price increases forward into June, and Pruitt said the company could consider additional pricing actions if diesel costs remain elevated. "Our biggest lever to overcome fuel continues to be price," Pruitt said, adding that the company intends to protect margins amid persistent inflationary pressure. Diesel was a significant headwind in the quarter, including a $26 million impact discussed during the question-and-answer session. Vulcan said operating disciplines, production efficiencies, labor scheduling and other actions mitigated part of the impact. Management also cited opportunities to manage diesel-intensive activities and use liquid asphalt storage assets in its downstream business. Chief Financial Officer Mary Andrews Carlisle said the second half should benefit from easier comparisons, as the company faced unusually concentrated repair and insurance costs during the second half of 2025. Seasonally higher shipment volumes should also support cost performance. Vulcan expects full-year selling, administrative and general expenses to be $10 million to $15 million below its initial February forecast of $580 million to $590 million. Carlisle said gross margins may remain down year over year in the third quarter but are expected to improve in the fourth quarter, resulting in modest overall expansion in the second half. Capital Allocation, Acquisitions and Divestitures The company said it spent $370 million on maintenance and growth capital projects in the first half, invested $75 million in a strategic aggregates acquisition and returned more than $500 million to shareholders, including $400 million of share repurchases. Full-year capital expenditures are still expected to total $750 million to $800 million. Vulcan paid down approximately $200 million of outstanding commercial paper during the second quarter and ended June with about $300 million in cash. Net debt to adjusted EBITDA was 1.7 times at June 30. Trailing-12-month return on invested capital increased 20 basis points year over year to 16.1%. During the quarter, Vulcan completed divestitures of its California concrete operations and non-core U.S. Virgin Islands operations. It also acquired an aggregates operation from Brannan Sand & Gravel in early June, expanding its presence in southern Colorado and strengthening distribution in the Dallas-Fort Worth market. Pruitt said the company's acquisition pipeline remains active and that several opportunities could be finalized this year. He said future transactions would remain focused on aggregates-led businesses where Vulcan can apply its selling and operating disciplines. Mexico Arbitration Decision Vulcan also provided an update on its arbitration against Mexico under the North American Free Trade Agreement. Pruitt said all three tribunal members found Mexico's actions were arbitrary, grossly unfair and unjust, and found that numerous actions violated NAFTA. However, the two tribunal members who issued the majority opinion awarded Vulcan only immaterial damages, while the third member dissented from the damages determination. Pruitt called the result disconcerting but said Vulcan has continued supplying Gulf Coast customers since the 2022 taking of its Calica operation. He said the company still owns the land and surrounding port property in Mexico and remains positioned to serve the Gulf Coast through its distribution network. About Vulcan Materials (NYSE:VMC) Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company's primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure. Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers. 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 contact@marketbeat.com. The article "Vulcan Materials Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Vogel said the decision followed discussions about the time demands of the role, as his family has remained on the East Coast. He pointed to progress over the past two years, including lower debt, cost reductions, improved financial discipline and a return to full-year growth in fiscal 2026. Chief Financial Officer Paul Vogel will step down, with Chief Operating Officer Abhishek Dalmia taking on a newly combined CFO and COO role. Vogel said he would work with Dalmia during the next quarter to support a smooth transition. V.F. now expects fiscal 2027 revenue to increase by 2% or more, up from its prior outlook for 1% to 2% growth. The company maintained its expectation for an approximately 8% operating margin for the full year, free cash flow that is flat to higher than last year, and a year-end leverage ratio between 2.6 times and 2.9 times. The company said first-quarter revenue was approximately $1.7 billion, flat from a year earlier and ahead of its guidance for a low-single-digit decline. Adjusted operating loss was $95 million, which V.F. said was slightly better than expected due to stronger-than-anticipated revenue. Adjusted diluted loss per share was $0.27, compared with a loss of $0.25 a year earlier. V.F. (NYSE:VFC) raised its fiscal 2027 revenue outlook after reporting first-quarter sales and operating performance that exceeded its prior expectations, while also announcing a finance leadership transition. CFO Paul Vogel will step down , with COO Abhishek Dalmia assuming a combined CFO and COO role. V.F. also reported a 20% year-over-year reduction in net debt and reiterated its longer-term goals of a 10% or better operating margin and leverage of 2.5 times or less. Brand performance was mixed: The North Face revenue rose 4% and Timberland increased 3%, while Vans declined 9%. V.F. expects Vans to remain weak in the first half but improve to a roughly 2% or better decline in the second half as product launches and direct-to-consumer trends gain traction. V.F. raised its fiscal 2027 revenue-growth outlook to 2% or more after first-quarter revenue of about $1.7 billion exceeded expectations. The company maintained its targets for an approximately 8% operating margin, flat-to-higher free cash flow and year-end leverage of 2.6–2.9 times. Story Continues "I remain confident in the company, the strategy, the progress we are making," Vogel said. "In fact, I leave this role with great confidence in where VF is headed." → MarketBeat Week in Review – 07/27- 07/31 Dalmia said his focus in the expanded position would include capital discipline, portfolio returns and balancing growth, profitability and cash generation. CEO Bracken Darrell said the combined finance and operations role would support the company's ongoing transformation and focus on total shareholder value. Brand performance and outlook The North Face posted 4% revenue growth in the first quarter, exceeding V.F.'s expectation for a flat quarter. Darrell said growth was led by transitional outerwear, shells and equipment, while the Ultima Version Two footwear launch had a strong debut across regions. The company expects The North Face to be flat to slightly higher in the second quarter, primarily due to wholesale timing, and expects full-year growth to be roughly in line with the brand's growth rate in fiscal 2026. V.F. also cited upcoming initiatives including its U.S. Ski & Snowboard Team apparel partnership and a planned update to its Nuptse product line. Timberland revenue increased 3% in the quarter, with both direct-to-consumer and wholesale channels growing globally. The Americas rose 10%. The six-inch premium boot remained the principal growth driver, while boat shoes also performed strongly across regions, according to Darrell. Vogel said Timberland's quarterly growth was reduced by roughly three percentage points due to the conflict in the Middle East and work involving one of the company's distributors. Dalmia said V.F. expects those pressures to be less significant in the second quarter. The company expects Timberland's full-year growth to be broadly in line with last year's growth rate. Vans revenue declined 9% globally in the first quarter, and V.F. expects a similar decline in the second quarter. However, Darrell said the company is seeing improvement in direct-to-consumer operations, particularly in the U.S., where nearly 60% of comparable stores were flat to growing in the quarter. E-commerce has shown accelerated growth, he said. Wholesale remains weaker than direct-to-consumer performance at Vans, although Darrell said discussions with wholesale partners support expectations for an improvement in the second half. V.F. expects Vans revenue to decline about 9% in the first half but to be down 2% or better in the second half, resulting in a mid-single-digit decline for the full year. The company said several Vans product launches and collections have generated strong consumer response, including growth in Authentic and Slip-On styles and strong sell-through for Old Skool releases. Darrell said V.F. intends to bring more differentiated and refreshed product into wholesale channels as it works to translate product momentum into broader sales. Outside its three largest brands, V.F. cited Altra as a growth opportunity. Darrell said road running has become larger than trail running for Altra in recent quarters, despite the brand historically being stronger in trail running. He reiterated the company's view that Altra can become a billion-dollar-plus brand over time. Margins, cash flow and regional trends Adjusted gross margin was 54.9%, slightly above the prior year. Vogel said unfavorable foreign exchange reduced the quarter's margin by 140 basis points. He also said there was no incremental tariff advantage or disadvantage in the first quarter compared with the prior-year period. SG&A expense increased year over year as V.F. invested in marketing, direct-to-consumer operations and other brand-building activity. Vogel said the company's $225 million in structural SG&A savings since fiscal 2024 remain embedded in the business, with the company choosing to reinvest from a lower fixed-cost base. By region, Americas revenue rose 4%, while Europe, Middle East and Africa revenue fell 7% and Asia-Pacific revenue declined 1%. Darrell said the company expects Asia-Pacific performance to remain comparatively muted in the near term, noting strong competition and a need for more innovation in the region. Direct-to-consumer revenue increased 5% during the quarter, while wholesale revenue declined 4%. Inventories, excluding Dickies and foreign exchange effects, fell 4%. Net debt declined $1.1 billion, or 20%, from a year earlier, and free cash flow improved by approximately $75 million, including about $50 million of tariff refunds. V.F. reiterated its medium-term targets of an operating-margin exit run rate of at least 10% in fiscal 2028, which it clarified would mean 10% or better for the full fiscal 2029 year, and a leverage ratio of 2.5 times or better by fiscal 2028. About V.F. (NYSE:VFC) VF Corporation, commonly branded as VF, is a global apparel and footwear company that develops, markets and distributes a diverse portfolio of consumer brands. Its offerings span outdoor and action sports apparel, footwear and accessories under marquee names such as The North Face, Vans, Timberland, Dickies, JanSport and Smartwool. Through a "house of brands" strategy, VF leverages the unique heritage and design expertise of each label to serve distinct lifestyle and performance segments. Founded in 1899 in Pennsylvania as the Reading Glove and Mitten Manufacturing Company, VF evolved through a series of acquisitions and strategic expansions to become a leading player in the global apparel industry. 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 contact@marketbeat.com. The article "V.F. Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

The company said the conflict affected production, feedstock availability, logistics and trade flows across petrochemical markets. Higher Asian freight rates effectively closed arbitrage routes from Asia to Europe and Central America, increasing demand for U.S. and European material, according to management. "The scale and duration of the supply loss is unprecedented, and we believe that recovery time will be measured in quarters, not months," Vanacker said of the market disruption. He said approximately 6 million tons of polyethylene capacity, or about 20% to 25% of Middle East supply, sustained damage and is not expected to restart until at least 2027. Chief Executive Officer Peter Vanacker said the company generated EBITDA of $2.1 billion and earnings of $4.30 per diluted share during the quarter. EBITDA more than tripled sequentially, while the company posted a 23% EBITDA margin. Vanacker said the results demonstrated the effects of LyondellBasell's value-enhancement program and cash-improvement actions when market conditions are favorable. LyondellBasell Industries (NYSE:LYB) said second-quarter earnings and margins improved sharply as disruptions tied to the Middle East conflict tightened petrochemical supply, altered trade flows and supported pricing across several of its businesses. Cash-improvement efforts remain central: The company maintained its $1.2 billion 2026 capital-expenditure plan, targets $500 million of incremental cash flow by the end of 2026, and continues portfolio streamlining, cost reductions and balance-sheet rebuilding while maintaining dividends. Supply losses are expected to persist: Management estimates roughly 6 million tons of Middle East polyethylene capacity was damaged and may not restart until at least 2027, reshaping global trade flows and boosting demand for U.S. and European material. Second-quarter results improved sharply: LyondellBasell reported $2.1 billion in EBITDA and $4.30 in diluted earnings per share, with EBITDA more than tripling sequentially as Middle East supply disruptions tightened petrochemical markets and supported pricing. Story Continues 3 High-Yield Dividend Stocks That Could Rally Near 52-Week Lows Vanacker also highlighted an unexpected shift in China, where producers reduced imports and increased exports to Southeast Asia despite lower operating rates. Chinese polyethylene inventories declined about 30% from pre-conflict levels, he said, while local operating rates remained in the mid-70% range. LyondellBasell expects China may need to increase imports to replenish those inventories. Management said it has not seen broad demand destruction in key end markets, with packaging demand remaining stable and healthcare and infrastructure applications continuing to grow. Housing and automotive demand remained subdued, though the company characterized those conditions as continuing rather than new headwinds. → Carrier Earnings Could Send the Stock to a New All-Time High Kim Foley, executive vice president of Olefins and Polyolefins and Trading, said the company announced a $0.10-per-pound polyethylene price increase for August amid continuing volatility. Foley said export prices and volumes increased in July, while China was no longer exporting at the pace seen in the second quarter. Americas segment drives earnings growth LyondellBasell's Olefins and Polyolefins Americas segment generated EBITDA of $1.3 billion, roughly four times the level recorded in the same quarter a year earlier. Integrated polyethylene margins expanded after a $0.30-per-pound increase in April contract pricing, which Foley described as the largest increase on record. June contract prices settled $0.15 per pound lower. North American polyethylene domestic sales volumes rose approximately 3.5% and reached their highest quarterly level since the first quarter of 2022. Polypropylene demand also increased, aided by lower imports. Segment operating rates were about 90%, while crackers ran at approximately 95%. For the third quarter, the company expects O&P Americas operating rates of approximately 85% of nameplate capacity. The lower rate reflects planned maintenance at Clinton and Lake Charles. The Clinton turnaround began in July and is expected to last about 70 days, while the Lake Charles outage is scheduled to begin in the second half of the third quarter and continue into the fourth quarter. The Europe, Asia and International olefins and polyolefins segment reported EBITDA of $331 million, up $337 million sequentially and its strongest quarterly result since 2021. Results included an approximately $50 million gain from the sale of European emissions credits. The segment operated at approximately 75% utilization during the quarter, with crackers at about 85% utilization. Management expects the segment to operate at about 70% utilization in the third quarter as it aligns output with seasonal demand. Foley said prolonged low water levels on the Rhine could further affect operations. Bayport outage limited intermediates results The Intermediates and Derivatives segment generated EBITDA of $386 million, supported by stronger margins in several businesses. However, unplanned downtime at the company's Bayport PO/TBA asset in Houston reduced second-quarter EBITDA by an estimated $250 million, according to Aaron Ledet, executive vice president of Intermediates and Derivatives and Enterprise Services. Ledet said the Bayport facility was safely restarted and ramped to full rates in June. The company expects improved oxyfuels and propylene oxide derivatives volumes in the third quarter, targeting segment operating rates of about 85%. The company said oxyfuels benefited from seasonal demand and near-record gasoline crack spreads. Ledet said approximately 40% of Russian refining capacity has been idled amid refinery disruptions associated with the Ukraine war, tightening refined-product supply. He also said 20% of global methanol capacity is supplied from the Middle East, including significant Iranian capacity that largely serves China. Advanced Polymer Solutions posted second-quarter EBITDA of $78 million. Executive Vice President Torkel Rhenman said margins improved through pricing actions and cost optimization, while automotive demand remained stable. The segment's first-half EBITDA rose more than 50% from the prior-year period, he said. Portfolio actions and cash plan continue LyondellBasell completed the divestiture of four European olefins and polyolefins assets in May and intends to close its Brindisi site by the end of 2026. Vanacker said the remaining European portfolio is centered on more advantaged operations, including crackers and integrated polyolefins assets in Wesseling, Germany, as well as PO/TBA sites in Botlek and Fos. The company said construction of its MoReTec-1 recycling facility in Wesseling remains on schedule for startup near the end of 2027. Vanacker said most of the facility's expected capacity has already been pre-sold through agreements with brand owners. LyondellBasell has delayed its planned MoReTec-2 project in the U.S., citing less-advanced regulation and its cash-improvement plan. Chief Financial Officer Agustín Izquierdo said the company generated $752 million in operating cash flow during the quarter, invested $270 million in capital expenditures and returned $224 million to shareholders through dividends. Cash totaled $2.6 billion at quarter-end, while available liquidity was $7.1 billion. LyondellBasell maintained its 2026 capital-expenditure plan of $1.2 billion. The company expects sustaining capital expenditures to decline by about $100 million following the European asset divestitures. Management said it remains on track to deliver $500 million of incremental cash flow by the end of 2026 through lower fixed costs and capital spending. Headcount has been reduced by approximately 3,400 employees, or 17% of the workforce, since the beginning of last year. Izquierdo said the company's capital-allocation priorities remain focused on maintaining an investment-grade balance sheet, funding safe and reliable operations, paying dividends and pursuing growth investments selectively. He said the company would consider mergers and acquisitions opportunistically, but that its current priority is rebuilding the balance sheet and improving credit metrics. About LyondellBasell Industries (NYSE:LYB) LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability. The company's integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities. 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 contact@marketbeat.com. The article "LyondellBasell Industries Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

St. Joe plans later this year to begin development of two utility corridors. One corridor is intended to serve future residential communities in the Lake Powell and West Laird Detailed Specific Area Plans, or DSAPs, while the other is planned for the Pigeon Creek and West Bay Creek DSAPs. "This diversity is deliberate to help insulate the residential segment from volatility in the market conditions of any one price point," Gonzalez said. Residential real estate revenue increased 39% year over year during the second quarter. Gonzalez attributed part of the growth to the company's range of residential communities and home price points, which span from the high $200,000s to more than $5 million. The company also reported higher gross margins across its operating segments. Residential gross margin increased to 48% from 45% a year earlier, hospitality margin rose to 42% from 39%, and commercial margin climbed to 65% from 57%. Gonzalez said the revenue figure was the company's highest second-quarter result in 20 years. He described net income as the highest second-quarter total in company history excluding a one-time gain related to discontinued operations in 1996. St. Joe (NYSE:JOE) reported second-quarter revenue of $158.9 million, up 23% from the prior-year period, while net income rose 37% to $40.5 million, President, CEO and Chairman Jorge Gonzalez said during the company's earnings call. Shareholder returns remained central to capital allocation: St. Joe repurchased $32.7 million of stock, paid $9.1 million in dividends and allocated 55% of second-quarter capital to shareholders. The company has repurchased $41 million of stock in 2026, bringing its share count to the lowest level in nearly 30 years. Residential growth remains a major focus, with revenue up 39% and utility-corridor projects planned to support thousands of future homesites. Management cited continued Northwest Florida in-migration and a broad range of communities and price points as demand drivers. St. Joe delivered record second-quarter results: Revenue rose 23% year over year to $158.9 million, while net income increased 37% to $40.5 million. Gross margins improved across residential, hospitality and commercial operations. Story Continues Gonzalez said off-site utility extensions are capital intensive but are necessary to support the future development of "many thousands" of residential homesites. He cautioned that residential results can vary quarter to quarter because of one- to two-year development cycles and differing homesite pricing. Chief Financial Officer Marek Bakun said that homesites in Bay County contributed to the company's estimated residual balance during the quarter. He added that the increase was driven by higher-priced communities. During the first half of 2026, St. Joe recorded $14.6 million of new true-ups and collected $5.3 million of existing true-ups, according to Bakun. Capital Allocation and Share Repurchases During the second quarter, St. Joe repurchased $32.7 million of common stock, invested $24 million in capital expenditures primarily supporting future growth, repaid $10.9 million of debt and paid $9.1 million in cash dividends. 43% of second-quarter capital allocation went to stock repurchases. 31% went to capital expenditures. 14% was used for debt reduction. 12% was paid as cash dividends. More than half of the company's capital allocation, or 55%, went to shareholders through buybacks and dividends, Gonzalez said. As of July 27, St. Joe had repurchased $41 million in stock during 2026, compared with $40 million for all of 2025. The company had 56,930,451 shares outstanding as of that date, which Gonzalez said was its lowest share count in nearly 30 years. In response to investor questions, Gonzalez said St. Joe's capital allocation strategy, including its repurchase program, is based on a longer-term model rather than solely on short-term cash flows. He said cash flow remains a factor in the broader allocation strategy but was not intended to be viewed as the exclusive determinant of buyback activity. Development, Healthcare and Regional Demand Construction on a new academic health center model hospital on Highway 79 is progressing, according to Gonzalez. The facility is expected to include teaching, research and clinical delivery functions, with anticipated completion still targeted for 2028. Gonzalez said St. Joe does not currently anticipate power generation or distribution constraints to limit execution of its growth plans. He also said the company has not seen any "significant or acute" increase in trade personnel costs or other expenses associated with artificial-intelligence-related data center construction demand. Demand for homes in Northwest Florida continues to increase, Gonzalez said, led by continued in-migration. He noted that buyers and new residents are arriving from a broader geographic range than in prior years. St. Joe is also considering waterfront development opportunities around bay and intracoastal locations. Gonzalez said the company evaluates those properties not only for their direct waterfront value, but also for their ability to increase the value of adjacent land holdings. Land Pipeline and Economic Development Addressing questions about Origins in Walton County, Gonzalez said the company does not view its residential pipeline as dwindling. He said St. Joe has a "very long runway" of potential homesites both west and east of Origins and is considering a range of development and builder-partnership options. In the Southport area, Gonzalez cited the Ticheli DSAP as an example of the company's strategy to maintain geographic and product diversity. St. Joe plans to break ground on the first phase of that project early next year. The company also continues to see interest from aviation and aerospace businesses in the region, Gonzalez said. He noted that aviation and aerospace have long been focus industries for regional economic development authorities. A Florida State University-led aerospace research and development center remains in the planning stage in Bay County and could become a catalyst for the sector, he said. Gonzalez said St. Joe owns approximately 165,000 acres of mostly entitled land in Florida and intends to continue pursuing a capital allocation approach that balances future development investment, debt reduction, dividends and share repurchases. About St. Joe (NYSE:JOE) The St. Joe Company (NYSE: JOE) is a leading real estate development and asset management firm focused on Northwest Florida. Headquartered in Jacksonville, the company owns and manages approximately 171,000 acres of land across Bay, Gulf, Franklin and Walton counties. St. Joe's core businesses include residential community development, commercial real estate, and hospitality, with an emphasis on master-planned neighborhoods, office and retail campuses, resort hotels and mixed-use town centers. Founded in 1936 as a paper manufacturing company, St. 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 contact@marketbeat.com. The article "St. Joe Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

In Europe, Huntsman said pricing actions and the company's cost structure should enable its operations there to be EBITDA-positive in the third quarter. However, he identified European energy costs and consumer demand as the principal risks. Natural gas prices in Europe had increased from roughly $13 to $14 per MMBtu to above $20 per MMBtu over the preceding two to three weeks, he said. Huntsman described July results and order patterns heading into September as stable. He said the company sees both headwinds and tailwinds entering the third quarter, but that current conditions appear balanced. "On the supply side, I think it's pretty well-balanced," Huntsman said of the MDI market. "On the demand side, I'd like to see a little bit more." He estimated global demand growth at roughly 0% to 2%, depending on geography, and said stronger North American housing activity, improved Asian consumer confidence and lower energy inflation in Europe would support the market. Chairman, CEO and President Peter Huntsman said the company was able to raise prices in its MDI business during the second quarter, largely to recover higher raw-material costs. He said the company's EBITDA nearly doubled from the second quarter of the prior year, although he remains concerned about the pace of demand recovery. Huntsman (NYSE:HUN) said it expects relatively stable conditions in the third quarter after improving margins in the second quarter, while management cited subdued demand growth, weaker North American housing indicators and uneven consumer confidence across major regions. Huntsman reiterated support for its proposed merger with Olin, targeting approximately $300 million in synergies plus more than $100 million of potential benefits after a chlorine supply contract expires; net leverage improved to 5.4 times and is expected to approach four times by year-end. Advanced Materials volume rose 8% in the second quarter , led by demand from power-grid infrastructure, renewable energy, artificial intelligence-related electricity investment and aerospace. Industrial Elastomers and spray foam insulation also posted solid growth. Third-quarter conditions are expected to remain stable after improved second-quarter margins, but Huntsman sees subdued global demand growth of roughly 0% to 2%, weak North American housing indicators and uneven consumer confidence. Story Continues Management estimated global MDI industry capacity utilization in the mid-80% range, with U.S. utilization tighter than that level, Europe somewhat looser and Asia near the global average. Huntsman said industry outages had occurred, but that markets would be tighter if demand were expanding at historical annual rates of 4% to 6%. → Carrier Earnings Could Send the Stock to a New All-Time High The company does not expect significant effects from the return of supply disruptions in the U.S. MDI market during the third quarter. Huntsman said inventory had entered the second quarter at elevated levels in anticipation of a stronger housing season that did not develop as expected, leaving the supply-demand environment relatively flat heading into the third quarter. Regarding U.S. anti-dumping duties on MDI, Huntsman said the measures should improve the market floor over time compared with a year ago, but cautioned that the benefits would likely emerge over multiple quarters and depend on a recovery in housing and demand. He noted that MDI can still reach the U.S. market indirectly through trade flows involving Canada, Mexico and Latin America. Huntsman said a competitor's polyol outage provided a low-$2 million to $3 million benefit during the second quarter. CFO and Executive Vice President Phil Lister said the upstream outages are over and supply is returning to the market in the third quarter. About 40% of the company's Polyurethanes contracts are formula-based and extend beyond a quarter, according to Huntsman. Those arrangements typically reopen for negotiation every six to 12 months and are designed to account for movements in benzene, natural gas and other inputs. The company is pursuing surcharges where possible while continuing to honor contractual pricing commitments, he said. Advanced Materials Growth Management said Advanced Materials volume increased 8% in the second quarter. Huntsman attributed the growth to broad-based improvement across applications, with power-grid infrastructure and aerospace among the stronger areas. The company is seeing demand for products used in grid modernization, renewable-energy connections and electricity infrastructure supporting artificial intelligence-related investment, Huntsman said. In aerospace, recovery in wide-body aircraft production continues, although build rates for the Boeing 777 and 787 and Airbus A350 remain below 2018 and 2019 levels, he said. Huntsman also cited growth in aerospace interior parts and adhesives, along with better-than-expected automotive growth supported by newly qualified electric-vehicle applications. Coatings, construction and automotive markets generally are tracking purchasing managers' indexes, he said. In Polyurethanes, Huntsman said industrial growth was led largely by its higher-margin Elastomers business, which posted double-digit gains in Asia, Europe and the Americas. The business serves specialty coatings, adhesives and related industrial applications. The company also reported continued low-double-digit growth in spray foam insulation despite a weak construction market. Huntsman credited supply-chain improvements, cost initiatives and marketing and sales execution in that business. Olin Merger and Synergy Plans Huntsman reiterated its support for the proposed merger of equals with Olin Corp., announced June 16. Peter Huntsman said the two companies' teams are collaborating on closing preparations and expect to begin pursuing identified synergies on the first day after closing. Management has identified approximately $300 million in expected synergies, including about $75 million from purchasing, logistics and integration; roughly $75 million from overlap in the companies' epoxy operations and related integration; and about $150 million in selling, general and administrative savings. The company also outlined more than $100 million of additional benefits expected after an existing chlorine supply contract expires. Huntsman said the largest and longest contract in the Americas runs through the end of 2030 and will be honored. Afterward, the combined company expects to internally supply chlorine and capture associated caustic value. Huntsman said the synergy estimates do not include potential commercial opportunities from combining the companies' technologies, supply chains and customer relationships. Lister said the company expects some synergies to be realized early after the deal closes through Olin products that can be integrated into Huntsman's EDC, EPI, LER and caustic requirements. On leverage, Lister said Huntsman's net debt was approximately $1.7 billion and its net leverage ratio improved to 5.4 times from 6.1 times in the first quarter. He expects cash inflow during the second half to move leverage closer to four times by year-end. Looking toward 2027, Lister said projections included moderate improvement in global economic conditions, construction and housing activity, as well as continued gains in Advanced Materials' power and aerospace businesses. The assumptions do not contemplate housing returning to prior peak levels, he said, but instead reflect a gradual move toward more cycle-average earnings through 2028. About Huntsman (NYSE:HUN) Huntsman Corporation is a global manufacturer and marketer of specialty chemicals with headquarters in The Woodlands, Texas. Founded in 1970 by entrepreneur Jon Huntsman Sr., the company has grown through strategic acquisitions and organic expansion to establish a broad portfolio of products serving diverse end markets. Huntsman maintains a presence in more than 30 countries, operating manufacturing facilities across North America, Europe, Asia-Pacific, Latin America and the Middle East. The company organizes its operations into several core business segments, including Polyurethanes, Performance Products, Advanced Materials, and Textile Effects. 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 contact@marketbeat.com. The article "Huntsman Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

The company expects Advanced Materials earnings to benefit in the second half from higher production utilization, pricing actions and growth in its circular-products platform. Eastman had reduced finished-goods inventory during the first half while securing supplies of paraxylene, creating a utilization headwind that Costa said should reverse as the company converts those materials into finished goods. Eastman reported 5% volume growth in its Advanced Materials segment during the second quarter, which Costa attributed largely to innovation-driven commercial wins. He said third-quarter volumes are expected to be roughly consistent sequentially with the second quarter, while remaining substantially above year-earlier levels. "We're not expecting any improvement in the end markets" tied to weak discretionary demand, Costa said. However, he said Eastman continues to see modest growth in stable end markets and has not yet observed a material demand impact from the Middle East conflict. Eastman Chemical (NYSE:EMN) said it expects stronger earnings growth in the second half of 2026 than it anticipated in April, citing volume gains, improved asset utilization and price-cost benefits across its specialty businesses. During its second-quarter earnings call, Chief Executive Officer Mark Costa said the company is not forecasting a broad recovery in weak discretionary markets such as automotive, consumer durables and certain aftermarket categories. Eastman remains committed to its methanolysis recycling platform, with the Kingsport facility operating above 90% yields and a potential 30% capacity increase. The company is also targeting $125 million to $150 million in net cost reductions in 2026 as it manages higher capital costs and uncertain market conditions. Advanced Materials posted 5% second-quarter volume growth , supported by innovation wins, while new Tritan capacity and circular-products growth are expected to aid second-half results. Eastman modestly lowered its circular-revenue outlook because of rPET production constraints and customers' greater sensitivity to recycled-content premiums. Eastman expects stronger earnings growth in the second half of 2026 , driven by volume gains, improved asset utilization and price-cost benefits. However, management does not anticipate a broad recovery in weak discretionary markets such as automotive and consumer durables. Story Continues → Microsoft Just Flipped the AI Spending Narrative Overnight Costa also said a new Tritan production line is coming online as Eastman had been constrained by Tritan capacity and had shifted one existing line to serve polyethylene terephthalate, or PET, growth. The company expects price-cost dynamics in the segment to become a tailwind in the second half as previously implemented price increases catch up with raw-material costs. For Eastman's Renew portfolio, Costa said revenue growth exceeded $100 million in the first half and more than doubled from the prior year. Growth was roughly evenly split between specialty products and recycled PET, or rPET, although specialty products accounted for more of the first-half contribution and PET is expected to account for more of the second-half ramp. → Carrier Earnings Could Send the Stock to a New All-Time High Eastman modestly lowered its circular-revenue outlook to below the range previously provided, citing both rPET production limitations and slower customer purchasing. Costa said customers remain committed to recycled content, but a weak economy has made them more disciplined about the premiums they pay. "We're not seeing anyone back away from their commitments to recycled content," Costa said. He added that demand for Eastman's rPET supports the company's view that its product offers better quality and clarity than mechanically recycled alternatives. Methanolysis platform remains a long-term focus Costa rejected the view that Eastman has materially redirected its strategy away from methanolysis, the chemical recycling process used at its Kingsport facility. He said the company continues to view the technology as a significant long-term growth platform, despite a weaker economy and increased capital costs. The Kingsport methanolysis plant is operating reliably, with yields above 90%, according to Costa. Eastman believes it can debottleneck the facility by 30% to reach 130,000 tons of capacity, or 130% of design capacity. Costa said the asset had been operating at about 50% utilization last year and utilization has increased with improved demand in 2026. Polymer capacity, rather than methanolysis capacity, is currently the constraint for rPET growth, Costa said. Eastman is evaluating additional ways to optimize polymer assets to support further PET production next year. Regarding a potential Texas project, Costa said higher capital costs and the loss of a Department of Energy grant prompted Eastman to develop a more capital-efficient approach. The company expects to provide additional details later and said the Kingsport expansion opportunity allows it to push out the next major capital commitment until 2028. Eastman still expects the first circular asset to eventually generate $200 million of EBITDA, although Costa said reaching that level will take longer than previously hoped because of current economic conditions. He said circular-products margins are above the company average but did not provide a contribution-margin figure. Other segments and cost actions In Chemical Intermediates, Costa said most of the year-over-year volume increase reflected the absence of major planned and unplanned shutdowns that limited production in the prior year. Eastman also gained some North American share in higher-margin markets and sold stored ethylene into what Costa described as attractive market conditions. He cautioned that Chemical Intermediates spreads could moderate in the second half and described the outlook as highly uncertain because of developments involving the Middle East and the Strait of Hormuz. Eastman expects to retain most of the volume share it gained, though the profitability of that volume could change with market spreads. Advanced Additives & Functional Products continued to show resilient margins, supported by a portfolio weighted toward stable markets including pharmaceuticals, water treatment, agriculture, personal care and aviation, Costa said. He pointed to favorable industry structures, strong competitive positions and cost-passthrough arrangements in certain businesses. Eastman intends to maintain specialty-product prices as higher raw-material, energy and distribution costs continue to flow through. In Fibers, Eastman expects tow volumes to rise materially in the second half as customers increase purchases to meet annual minimum-volume commitments. Costa said annual tow volumes should be relatively stable compared with last year. Textile volumes, which were weak in the first half, are expected to improve enough in the second half to bring the business roughly even with 2025 levels. Chief Financial Officer Willie McLain said Eastman remains on track to deliver $125 million to $150 million of cost reductions net of inflation in 2026. The largest benefits are expected in Advanced Materials and Chemical Intermediates, with smaller contributions from Fibers and Additives & Functional Products. He said the company's focus for 2027 will include at least offsetting inflation. Cash flow, maintenance and portfolio strategy McLain said higher pricing is expected to add about $500 million to revenue this year. Working capital consumed less cash in the first half than in the prior-year period, although Eastman expects to recover less working capital in the second half than it did last year. McLain said the company expects to approach $900 million, compared with $970 million under the company's prior comparison. Eastman completed a major maintenance shutdown of its Kingsport coal gasifier and related stream in the second quarter. Costa said the work was a significant sequential headwind for Fibers and Chemical Intermediates, but its cost will not repeat next year. On acquisitions and divestitures, Costa said Eastman is evaluating opportunities as industry activity increases and valuations become more rational. He emphasized that the company will remain disciplined, citing its past acquisitions, divestitures of underperforming businesses and continuing investment in organic growth through innovation. About Eastman Chemical (NYSE:EMN) Eastman Chemical Company (NYSE: EMN) is a global specialty materials company that develops, manufactures and markets a broad range of advanced materials, chemicals and fibers. Its product portfolio spans performance additives, functional products, and engineered plastics designed to enhance the durability, appearance and performance of end products across diverse industries. The company's main business activities include the production of specialty chemicals used in adhesives, coatings, building materials and consumer care applications, as well as high-performance plastics for packaging, automotive and electronics markets. 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 contact@marketbeat.com. The article "Eastman Chemical Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

The company declared a 10% increase in its interim dividend. It also returned more than £300 million to shareholders during the first half, including through its ongoing £500 million share repurchase program. IMI had completed £250 million of the buyback as of June 30. Adjusted basic EPS rose 13% to 63.4 pence. IMI's tax rate was 26.2% in the first half, while net interest expense was broadly unchanged from the prior year at £8.4 million. Chief Financial Officer Luke Grant said adjusted operating profit increased to £217 million, while adjusted operating margin rose 50 basis points to 18.7%. The margin improvement reflected operating leverage and continued expansion of the higher-margin aftermarket business, partly offset by previously announced cybersecurity investments. "We delivered 5% organic revenue growth in the first half with growth across all of IMI," Twite said. "Organic adjusted operating profit was 8% higher than the same period last year." Chief Executive Officer Roy Twite said the company delivered growth across all of its businesses during the period and remained on track to achieve its sixth consecutive year of mid-single-digit organic revenue growth. IMI reaffirmed its full-year adjusted basic earnings-per-share guidance of between £1.36 and £1.42. IMI (LON:IMI) reported a strong first-half performance for 2026, with organic revenue rising 5% and organic adjusted operating profit increasing 8%, as growth across its Automation, Life Technology and Transport platforms supported higher earnings and cash generation. Growth was led by Automation, including strong nuclear, power and LNG demand, while Life Technology and Transport also expanded. Management maintained its 2026 outlook, including flat-to-slightly higher operating margins and mid-single-digit organic revenue growth for Transport. Cash generation improved sharply, with free cash flow rising to £171 million from £30 million a year earlier and cash conversion reaching 96%. IMI also increased its interim dividend by 10% and had completed £250 million of its £500 million share buyback by June 30. IMI delivered a strong first half of 2026 , with organic revenue up 5%, adjusted operating profit up 8% to £217 million, and adjusted EPS up 13% to 63.4 pence. The company maintained full-year EPS guidance of £1.36–£1.42. Story Continues → Carrier Earnings Could Send the Stock to a New All-Time High Grant said the company's capital-allocation priorities remain organic investment first, followed by targeted bolt-on acquisitions and then shareholder returns where excess capital is available. Net debt stood at £673 million at the end of June, equivalent to 1.2 times adjusted EBITDA and within IMI's target range of one to two times. Cash flow improves sharply IMI reported adjusted operating cash flow of £208 million, up 32% from the comparable period. Free cash flow increased to £171 million from £30 million in the first half of 2025, aided by stronger operating cash flow and the absence of one-off items recorded last year. Working capital showed an £8 million outflow, an improvement from a £42 million outflow in the prior-year period. Cash conversion reached 96%. The company spent £38 million on capital expenditures during the half, or 1.2 times depreciation, while also opening three new facilities and investing in its Growth Hub, data and digital capabilities. Grant said IMI expects cash conversion to remain above 90% over time, while noting that investment in capacity and working capital requirements associated with growth could affect the result in individual periods. Automation supported by power, nuclear and LNG demand Automation revenue increased 5% organically. Process Automation orders rose 12% organically, including a £48 million nuclear new-construction order that is expected to generate deliveries over more than a decade. The Process Automation order book at the end of June was 10% higher than a year earlier. New-construction orders in Process Automation increased 20%, while aftermarket orders rose 7%. Twite said conventional-power orders doubled to £64 million in the first half, supported by electrification and demand for reliable power supply for data centers. He said IMI's customers in the sector have multi-year order books, though construction capacity could limit the pace of growth. Twite said aftermarket demand typically begins a few years after valves are installed and can amount to roughly 10% of the original new-construction value on average. IMI has more than 200,000 installed severe-service valves across its markets, supporting a recurring aftermarket revenue stream. Nuclear aftermarket orders rose 33% organically, while LNG order intake increased 56%, including a 67% gain in new-construction orders and a 36% rise in aftermarket orders. Twite said downstream and petrochemical new-construction markets remained softer, while the company sees opportunities for aftermarket upgrades in those areas. Industrial Automation revenue also rose 5% organically. Twite said the business faced a softer prior-year comparison following the cybersecurity disruption in 2025, and described its 60-day moving average for orders as roughly 2% higher entering the second half. Europe was broadly flat, with Germany weaker, while the Americas were modestly higher and Asia-Pacific was up closer to double digits, he said. Life Technology and Transport outlook improves Life Technology organic revenue rose 5%. Climate Control revenue increased 4%, supported by demand for energy-efficient and smart-connected products. Twite said data-center orders totaled £18 million in the first half, compared with £6 million a year earlier, and said full-year sales related to the market could be slightly above the approximately £30 million previously expected. Life Science & Fluid Control revenue rose 5%, supported by healthcare demand. IMI raised its outlook for the business and now expects organic revenue to be modestly higher in 2026. Twite characterized the improvement as modest and said demand had not returned to earlier stronger levels in analytical devices. Transport organic revenue climbed 8% as the heavy-duty truck market began to recover. IMI now expects mid-single-digit organic revenue growth for the business this year. The Transport unit remains under strategic review, although Twite said its operational and cash performance had improved. Guidance maintained amid external uncertainty IMI maintained its expectation for adjusted operating margin to be flat to slightly higher in 2026, as operating leverage is expected to offset cybersecurity spending. The company assumes the disposal of Truflo Marine will complete in the third quarter. Excluding Truflo Marine, IMI expects its usual EPS weighting of about 45% in the first half and 55% in the second half. Reported earnings could be more first-half weighted if the disposal proceeds as expected, because of Truflo Marine's contribution before completion. Management said shipments to the Middle East were modestly ahead of the expectations set in its first-quarter update. Twite said there remained a potential £30 million risk related to regional shipments, but described that risk as substantially reduced after July shipments tracked the company's plan. Looking longer term, Twite said IMI expects its One IMI operating model, aftermarket expansion and exposure to energy, automation and healthcare trends to support further margin progression. He said the company's organic business could generate around 30% drop-through over time, which could support a margin trend toward about 22% over a five-year period, subject to investments and acquisitions. About IMI (LON:IMI) IMI plc is a specialist engineering company operating in fluid and motion control markets. We combine our deep engineering knowledge with strong applications expertise to develop solutions for the most acute industry problems. We help our customers become safer, more sustainable and more productive. IMI employs around 10,000 people, has manufacturing facilities in 19 countries and operates a global service network. The Company is listed on the London Stock Exchange and is a constituent of the FTSE4Good Index. 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 contact@marketbeat.com. The article "IMI Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

The steel business remained resilient despite subdued global steel production and regional volatility. Steel revenue increased about 5% on a constant-currency basis, although volumes were slightly lower. Gross profit in the segment rose 17% at constant currency to €249 million. Adjusted earnings per share increased to €1.81, according to Borgas. The board declared an interim dividend of $0.60 per share, unchanged from the prior year. Chief Financial Officer Ian Botha said adjusted EBITA rose 17% year over year to €165 million from €141 million, while the adjusted EBITA margin increased to 10.3% from 8.3%. On a constant-currency basis, adjusted EBITA rose 42%, after a €24 million foreign-exchange headwind primarily related to the U.S. dollar and Indian rupee. Revenue declined 4.9% to approximately €1.6 billion in the first half, though it was broadly flat at constant currency. Borgas said foreign-exchange movements, including the weaker U.S. dollar, weighed on reported sales. Chief Executive Officer Stefan Borgas said the company's "self-help measures" were the main driver of the improvement, particularly in its steel operations. The company is advancing further initiatives across its raw-material facilities, refractory plant network and digital investments to support profitability through 2027 and beyond. RHI Magnesita (LON:RHIM) said its first-half 2026 earnings improved despite soft and volatile end markets, as pricing actions, plant-network changes and administrative cost reductions offset currency pressure and weak demand for high-margin industrial projects. Full-year guidance was maintained: RHI Magnesita still targets 2026 adjusted EBITA of €435 million at constant currency, or €400 million on a reported basis, while expecting working-capital unwind and deleveraging toward approximately €1.4 billion of net debt by year-end. Steel offset a sharp industrial-project decline: Steel revenue increased 5% at constant currency and is expected to add €25 million of earnings in the second half, while industrial revenue dropped 13% as customers deferred roughly €50 million of high-margin projects into 2027. First-half profitability improved despite weak demand: Adjusted EBITA rose 17% to €165 million, with the margin expanding to 10.3%, driven by pricing, cost reductions and plant-network changes. Revenue fell 4.9% to about €1.6 billion, largely due to foreign-exchange pressure. Story Continues → Carrier Earnings Could Send the Stock to a New All-Time High Borgas attributed the improvement to price adjustments intended to recover higher energy, freight and labor costs, as well as fixed-cost reductions at European plants. The company also expanded its 4PRO customer-service and solutions model, which management said has helped reduce customer churn, support pricing and improve margins. In China, Borgas said the 4PRO offering helped the business gain market share while maintaining price levels in a highly competitive market. The company is also developing a robotic ladle solution with local partners in China and has begun customer work with automation specialist Polytec. RHI Magnesita said it temporarily lost market share in the United States and India. In India, management said it exited low-margin business to focus on more sustainable, 4PRO-enabled growth. In the U.S., an enterprise resource planning system rollout affected customer service levels and market share during the second quarter, though Borgas said both issues were beginning to recover. Management expects steel to contribute an additional €25 million of earnings in the second half, supported by a stronger order book, particularly in India and the Middle East, Turkey and Africa region, as well as continued 4PRO progress. Industrial-project demand remains weak Industrial revenue fell 13% to €466 million, reflecting a decline in industrial-project activity from what Borgas described as an already historically low 2025 level. Lower project volumes hurt product mix and resulted in fixed-cost under-absorption at high-cost plants, especially in Europe. The company said its cement, steel and non-ferrous businesses performed well, but the global industrial-project market remained challenging. Glass was particularly weak, while industrial applications also saw limited investment activity. Non-ferrous project activity was more resilient and met management's expectations. Customers postponed roughly €50 million of high-margin project revenue from the first half into 2027, while another €10 million shifted into the second half of 2026. Only a small number of projects were canceled, largely in the Middle East, according to Borgas. Still, the company said its industrial-project order book has improved for the second half, supported by the Northern Hemisphere cement maintenance season. Botha said industrial operations are expected to contribute an additional €35 million in the second half, including €20 million from normal seasonal strength and €15 million of year-over-year improvement. During the question-and-answer session, Borgas said more than half of the anticipated second-half industrial improvement had already entered production. The remaining orders were signed and in engineering or rollout stages but carried greater timing risk, particularly if customers defer capital spending late in the year. Chief Customer Officer Gustavo Franco said individual projects can range from approximately €1 million to €2 million in revenue to €10 million to €15 million, depending on their scale. He said the company's win-loss ratio exceeded 50% across most industries and reached about 70% in ferrous metals. Cash flow and deleveraging remain priorities Working capital increased during the first half as the company built raw-material inventory ahead of a stronger second-half order book. Foreign exchange added €22 million to working capital, while North American receivables rose €40 million following delayed invoicing after the ERP launch. Net debt increased by €33 million to €1.528 billion, while leverage remained stable at 2.9 times net debt to adjusted EBITDA. Operating cash flow was €160 million and cash conversion was 97%. Botha said the company expects the inventory build and receivables increase to unwind in the second half. RHI Magnesita maintained its expectation for working-capital intensity of about 22%, net debt of approximately €1.4 billion and leverage moving toward 2.6 times by year-end. The company refinanced €800 million of debt during the period, increasing its weighted average borrowing cost to 3.5% at June 30 from 3.3% at the start of the year, primarily because of higher benchmark rates. Full-year outlook maintained RHI Magnesita reaffirmed its full-year guidance, forecasting adjusted EBITA of €435 million at constant currency and €400 million on a reported basis. The reported outlook incorporates an expected €35 million year-over-year foreign-exchange headwind. The company continues to expect €15 million of EBITA improvement from pricing actions, €15 million from network optimization and further administrative cost savings. Management said it is identifying additional raw-material and plant-network initiatives to extend the benefits of its self-help program beyond 2026. Borgas said the company expects industrial-project demand to normalize gradually over the next 12 to 24 months, while cautioning that the order book remains below historical norms and markets remain volatile. About RHI Magnesita (LON:RHIM) RHI Magnesita is the leading global supplier of high-grade refractory products, systems and solutions which are critical for high-temperature processes exceeding 1,200°C in a wide range of industries, including steel, cement, non-ferrous metals and glass. With a vertically integrated value chain, from raw materials to refractory products and full performance-based solutions, RHI Magnesita serves customers around the world, with over 20,000 employees in 65 main production sites (including raw material sites), 12 recycling facilities and more than 70 sales offices. 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 contact@marketbeat.com. The article "RHI Magnesita Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

Second-quarter operating profit declined by €274 million year-over-year to €1.406 billion, with the operating margin falling to 15.8% from 19.0% in the previous year. Passenger revenue increased by €318 million excluding foreign-exchange effects, but this was insufficient to offset a €489 million increase in fuel costs at constant currency. Chief Financial Officer José Antonio Barrionuevo said the Middle East conflict had an immediate effect on capacity and fuel costs, limiting the company's ability to respond quickly. Fuel unit costs increased 12.5% during the first half, despite €769 million in hedging gains. "We have delivered a robust first-half performance," Gallego said, pointing to the group's portfolio of brands, global markets and continued demand for travel. He said IAG recovered about 60% of the increase in fuel costs through pricing and cost actions, although conditions differed between long-haul and short-haul markets. The airline group posted operating profit of €1.757 billion for the first six months of 2026, down €121 million from a year earlier, while its operating margin was 10.9%. Revenue rose 1.0%, including growth of 1.9% in the first quarter and 0.2% in the second quarter. Chief Executive Officer Luis Gallego said the group remained confident it could achieve its full-year operating-margin target of 12% to 15%. International Consolidated Airlines Group (LON:IAG) reported a resilient first-half performance as strong travel demand and cost controls partly offset higher jet fuel prices and disruption related to the Middle East conflict. Cash generation and the balance sheet improved significantly , with first-half free cash flow of €2.905 billion and net debt falling to €4.7 billion from €5.9 billion. IAG has completed about €800 million of its €1.4 billion excess-cash return program, while British Airways and IAG Loyalty led operating performance. Higher fuel costs and Middle East-related disruption pressured second-quarter results: fuel unit costs rose 12.5%, while Q2 operating profit fell €274 million to €1.406 billion. IAG reduced full-year capacity guidance to flat growth and is relying on pricing, cost controls and route adjustments to protect margins. IAG delivered a resilient first half , with €1.757 billion in operating profit and a 10.9% margin, despite a €121 million year-over-year decline. Management maintained its full-year operating-margin target of 12% to 15%. Story Continues The group said it was around 70% hedged for the balance of 2026 and approximately 40% hedged for 2027. Foreign exchange was a €52 million drag on first-half operating profit, as the translation impact of a weaker pound sterling against the euro outweighed a modest favorable transaction impact. → Carrier Earnings Could Send the Stock to a New All-Time High Passenger revenue rose by €828 million at constant currency in the first half. Cargo revenue fell by €23 million as lower volumes, mainly related to suspended Middle East routes, were only partly offset by a 3.3% increase in yields. British Airways and loyalty business lead performance British Airways was among the group's strongest contributors, increasing operating profit by €44 million year-over-year. On a reported basis, British Airways generated operating profit of £885 million and lifted its margin to 11.9%. Management cited strong premium and corporate demand, particularly across the North Atlantic network. IAG Loyalty also delivered higher earnings, with operating profit rising £48 million to £239 million and its margin reaching 19.3%, up 3.4 percentage points. Gallego said Avios issuance increased 15% and active members rose 9%, supported by new partnerships including bp pulse and Uber Eats in the U.K. and Cinesa in Spain. Iberia reported operating profit of €526 million, down €38 million, while maintaining a 13.5% margin. The airline continued to see strong demand in Latin America, although higher fuel costs and engine-maintenance-related cancellations affected results. Vueling's operating profit declined €49 million to €46 million amid fuel inflation and competitive pressure in European short-haul markets. Aer Lingus posted an operating loss of €34 million, compared with an €80 million profit a year earlier. Management attributed the reversal to higher fuel costs and competitor capacity growth, particularly from U.S. airlines. North Atlantic unit revenue increased 7.3% at constant currency, supported by British Airways premium and corporate demand. Latin America and Caribbean unit revenue rose 2.4% as capacity grew 5.3%. European unit revenue increased 1.2%, though the group described intra-European short-haul markets as highly competitive. Capacity in Africa, the Middle East and South Asia fell 17.4% after the suspension of most Middle East routes. Capacity discipline and Aer Lingus turnaround IAG now expects full-year capacity to be flat, compared with earlier guidance for growth of about 1%. Gallego said the change reflects the cancellation of a substantial portion of Middle East operations, alongside decisions to remove inefficient capacity and preserve margins. The group plans to resume Doha flights on Sept. 1, followed by Riyadh, Dubai and Tel Aviv from Oct. 1, subject to developments in the region. British Airways has redeployed some capacity to markets including India, Nairobi and Johannesburg. Aer Lingus is implementing a transformation plan after its first half-year loss outside the COVID period in some time, according to management. The airline has reduced its network by 6%, is pursuing cost reductions and has removed more than 25% of senior-management positions so far. It is also consulting unions on further head-office reductions and plans to invest in premium-economy and business-class products. Management said Aer Lingus aims to reach the group's 12% operating-margin threshold, though it does not expect an immediate turnaround. The company said a lower cost base and potential future investment in next-generation aircraft would be important to achieving that target. Cash flow, investment and shareholder returns IAG generated €2.905 billion in free cash flow during the first half, €808 million more than a year earlier. Net debt declined to €4.7 billion from €5.9 billion at the end of 2025, while net leverage fell to 0.6 times. Capital expenditure totaled €1.291 billion in the first half. The group expects full-year capital expenditure of about €3.4 billion and anticipates 16 aircraft deliveries in 2026, mostly in the fourth quarter. One delivery previously expected this year has slipped into 2027. The company said it had completed about €800 million of the €1.4 billion excess-cash return program announced in February. IAG plans to update investors on its 2026 interim dividend with third-quarter results. Looking ahead, Gallego said IAG was booked at about 57% of expected second-half revenue, in line with the prior year. The group expects continued strong corporate demand and broadly similar unit-revenue performance to the second quarter, while maintaining its full-year margin target through revenue initiatives, cost discipline and capacity reductions. About International Consolidated Airlines Group (LON:IAG) International Consolidated Airlines Group SA, together with its subsidiaries, engages in the provision of passenger and cargo transportation services in the United Kingdom, Spain, the United States, and rest of the world. It also provides aircraft leasing, aircraft maintenance, tour operation, air freight operations, call centre, ground handling, trustee, retail, IT, finance, procurement, storage and custody, aircraft technical assistance, human resources support, and airport infrastructure development services; and manages airline loyalty programmes. 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 contact@marketbeat.com. The article "International Consolidated Airlines Group Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

"We continue to grow in areas where we believe pricing remains attractive, particularly casualty, whilst reducing exposures in parts of property and specialty where rates no longer meet our return hurdles," Eckert said. Management said market conditions became increasingly competitive during the first half, with risk-adjusted rates across the portfolio declining about 6%. Conduit has responded by prioritizing underwriting margins over premium volume, reducing certain quota-share treaties and repositioning property and specialty portfolios toward excess-of-loss business. The company's undiscounted combined ratio improved to 92.6% from 122.1% in the prior-year period. Gross premiums written declined 1.8% year-over-year to 789 million, reflecting Conduit's decision to reduce business in areas where rates no longer met its return requirements while continuing to expand in casualty lines. Chief Executive Officer Neil Eckert said the reinsurer generated a 7.8% return on equity under its amended methodology and increased tangible net assets per share by 8.4% in the first half and 23.2% over the past 12 months. Tangible net assets per share stood at £5.70 at June 30. Conduit (LON:CRE) reported comprehensive income of $80.3 million for the first half of 2026, compared with a comprehensive loss of $13.5 million a year earlier, as a more benign catastrophe environment helped drive a sharp improvement in underwriting results. Conduit expanded retrocession coverage to reduce catastrophe risk, while higher ceded reinsurance costs supported greater earnings stability. Investment income rose more than 20% to $46.7 million, and the company returned approximately $68 million to shareholders through dividends and share buybacks. The reinsurer is prioritizing underwriting margins over premium growth as risk-adjusted pricing declines. It reduced property and specialty exposure, shifted property toward excess-of-loss coverage, and grew casualty premiums 21%. Conduit returned to profitability in H1 2026, reporting $80.3 million of comprehensive income versus a $13.5 million loss a year earlier. Its undiscounted combined ratio improved sharply to 92.6% from 122.1%, while tangible net assets per share rose 8.4% to £5.70. Story Continues Property gross premiums written fell 9% to 454.8 million. Chief Underwriting Officer Stephen Postlewhite said the reduction was expected and reflected the company's withdrawal from quota-share participations with more marginal profitability, partly offset by selectively adding excess-of-loss business and international opportunities. → RTX and Lockheed Earnings: Can Strong Guidance Reset the Defense Trade? Property risk-adjusted pricing declined approximately 10% in the first half, while property catastrophe excess-of-loss rates were generally down 15% to 20% at midyear, Postlewhite said. The segment's undiscounted combined ratio improved to 72.8% from 130.5% a year earlier, when results were affected by California wildfire losses. Conduit aims to move toward a roughly 50/50 split between quota-share and excess-of-loss business in property over the next 12 to 18 months, management said during the question-and-answer session. Casualty premiums increased 21% to $217 million, supported by deeper relationships with preferred clients and growth in general third-party liability. Risk-adjusted casualty pricing was down about 1%, which management characterized as relatively stable compared with other areas of the market. The casualty undiscounted combined ratio was 102.9%, broadly in line with the prior-year period. Specialty premiums declined 5% to $117.2 million as Conduit reduced participation in classes facing more aggressive competition. Risk-adjusted specialty rates fell 7%, while the segment's combined ratio was 104.8%, including losses associated with the Middle East conflict. Postlewhite said the company continues to see selected opportunities in aviation, political violence and terrorism, with aviation generating strong submission activity at midyear. Retrocession expanded as competition rises Conduit increased retrocessional protection during 2026, adding coverage for peak and secondary peril exposures, raising limits and lowering retentions in its core program. The company also retained cover for second- and third-event scenarios. Postlewhite said the additional protection has reduced modeled net probable maximum losses at both one-in-100-year and one-in-250-year return periods. Although the changes raised ceded reinsurance costs, management said they should improve earnings stability and protect capital during the softening phase of the cycle and the Atlantic wind season. Chief Financial Officer Elaine Whelan said ceded reinsurance expenses rose to 73.3 million in the first half from 53.4 million a year earlier as a result of the additional cover. The company reported an undiscounted net loss ratio of 80.7%, compared with 109.6% in the prior year, while its discounted combined ratio improved to 80.4% from 108.3%. Investment income and capital returns support results Conduit's managed investment portfolio expanded by about $375 million over the past 12 months to $2.3 billion. Net investment income rose more than 20% year-over-year to $46.7 million, aided by the larger asset base and a current book yield of approximately 4.2%. The overall investment return was 0.9%, however, compared with 3.9% a year earlier, as rising Treasury yields produced unrealized mark-to-market losses. Whelan said the portfolio remained short duration, with a duration of 2.7 years, and maintained an average credit quality of AA. During the first half, Conduit repurchased 6.8 million shares for $38.9 million and paid $28.7 million in dividends. Eckert said the company returned about $68 million to shareholders through dividends and share repurchases. Management said it expects gross premiums written for the full year to be modestly below 2025 levels as it takes a more conservative approach to premium estimates and continues to avoid business that does not meet underwriting hurdles. Reinsurance revenue is expected to be less affected because of the earning profile of prior underwriting years and the faster earning pattern of excess-of-loss business. Looking ahead, Eckert said Conduit expects competition and price softening to persist across many lines. "Our ability to be nimble and focus on capital discipline and margin rather than market share will become increasingly important," he said. About Conduit (LON:CRE) Conduit Re is a Bermuda-based multi-line reinsurance business with global reach. Conduit Reinsurance Limited is licensed by the Bermuda Monetary Authority as a Class 4 insurer. A.M. Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of a- (Excellent) to Conduit Reinsurance Limited. The outlook assigned to these ratings is stable.Conduit Holdings Limited is the ultimate parent of Conduit Reinsurance Limited and is listed on the London Stock Exchange (ticker: CRE). 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 contact@marketbeat.com. The article "Conduit H1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

Domestic brick dispatches reported by the Department for Business and Trade fell 8% during the first five months of the year. Forterra said bricks were its most resilient product category, while block dispatches declined more sharply. In Forterra's bricks and blocks segment, like-for-like revenue declined 8%, while segmental adjusted EBITDA slipped to £25.7 million from £27.5 million. The company said it outperformed the wider brick market because of its capacity weighting toward extruded brick. Chief Financial Officer Ben Guyatt said the higher margin reflected the closure of non-core operations that had weighed on profitability. The company also removed approximately £2 million of annualized back-office and commercial costs through a restructuring of central and management functions, although Guyatt said Forterra was already a lean business and did not expect significant further headcount-related savings. Like-for-like revenue fell 9% year over year to £169 million, primarily reflecting lower sales volumes. Adjusted EBITDA declined to £27 million from £29.9 million, while adjusted EBITDA margin increased 70 basis points to 16%. Adjusted profit before tax fell 12.7% to £14.5 million and adjusted earnings per share declined 12.1% to £0.051. Forterra (LON:FORT) reported lower first-half revenue and profit amid weak construction-market demand, but said margin improvement, cost reductions and pricing actions helped it deliver what management described as a resilient performance. Shareholder returns and investment plans continue: Forterra plans to complete its £20 million share buyback and paid a £0.017 interim dividend, while evaluating a potential £60–£65 million replacement Aircrete facility. CFO Ben Guyatt will depart in October and Lisa Oxenham is expected to become his successor by January. Cash flow and debt came under pressure: Working capital increased by £20 million, driving adjusted operating cash flow down to £8.5 million and net debt up to £74.5 million. Forterra expects stronger second-half cash generation and maintained its outlook for full-year results in line with market consensus. First-half performance weakened: Like-for-like revenue fell 9% to £169 million and adjusted profit before tax declined 12.7% to £14.5 million amid lower construction demand. However, the adjusted EBITDA margin improved to 16% through cost reductions, pricing actions and the closure of non-core operations. Story Continues The company implemented a low-single-digit price increase for bricks, recovering underlying cost inflation after several years in which it had been unable to secure meaningful price increases. It also introduced additional brick price increases and surcharges in concrete products to address higher fuel and transport costs. → 2 Stocks Built to Thrive If Inflation Refuses to Fade Guyatt said Forterra began the year with more than 80% of its full-year gas requirement fixed at competitive prices, helping shield it from energy-price volatility associated with the Middle East conflict. The company has also secured around 80% of its expected 2027 gas usage at pre-conflict prices, with layered positions extending to 2030. Management reduced production modestly at its London Brick and Aircrete operations to align output with demand and limit working-capital pressure. Forterra said it is operating at roughly 60% of installed capacity overall, while its Desford site has continued to ramp production with both kilns operating since September of the previous year. Its Claughton facility remains mothballed. Bespoke products and cash flow The bespoke products segment, which now consists solely of the Bison Precast concrete flooring business following the prior-year closure of Bison Bespoke, recorded a 14% decline in like-for-like revenue to £31 million. EBITDAR before central-cost allocations fell to £4 million from £5.4 million. Management characterized Bison Flooring as a strategic part of Forterra's offering, alongside brick and Aircrete products, because it serves similar housebuilding customers. The company said it has consolidated commercial activity to improve efficiency and offer more integrated solutions. Working capital increased by £20 million in the first half to £66 million. Forterra attributed £4.5 million of the increase to an accounting-standard change affecting recognition of electronic banking receipts, while weak demand contributed to £3 million of inventory growth after a further £3 million increase in the second half of the prior year. Adjusted operating cash flow fell to £8.5 million from £30 million in the prior-year period. Guyatt said the comparative period had benefited from an inventory reduction associated with strong first-half sales, and that Forterra expects stronger operating cash flow in the second half as working-capital seasonality reverses. Net debt before leases rose to £74.5 million, up £19 million from year-end, and leverage remained just under 1.5 times on a pre-IFRS 16 banking-covenant basis. The company expects year-end net debt and leverage to remain broadly similar to June levels. Forterra extended its £170 million revolving credit facility to July 2030, with a potential one-year extension subject to lender consent. The renewed facility has the same lender group, a lower interest rate and is now unsecured. The company also retains a £10 million overdraft facility. Capital allocation and growth projects Capital expenditure was £4.1 million in the first half, with full-year capital outflows expected to total about £10 million. Forterra expects about £7 million of property-disposal proceeds in the second half from land associated with the closed Bison Bespoke facility, subject to completion of a transaction. The company returned £8.5 million to shareholders through its share buyback during the first half and said it remains committed to completing the full £20 million program in the second half. It declared an interim dividend of £0.017 per share, compared with £0.019 a year earlier, consistent with its policy of targeting approximately two times dividend coverage. Forterra is also assessing a potential Aircrete investment. Management said a replacement facility for its aging Hams Hall plant could cost roughly £60 million to £65 million, potentially offset by about £25 million from selling the existing site. No final decision has been made, no planning application has been submitted, and the board is expected to provide further detail at full-year results. Elsewhere, the company said its Omnia brick-slip system has begun supplying initial projects and is building a pipeline of opportunities. Forterra has invested £2 million in a brick-slip cutting facility near its Measham soft-mud factory to expand its range. It is also progressing discussions with a preferred partner over a potential joint venture involving calcined clay, a cement-substitute material. Outlook and leadership transition Forterra expects second-half market demand to be broadly consistent with the first half and continues to expect full-year performance to be in line with market consensus. Management cited weak consumer confidence, reduced mortgage availability and lower housing starts as continuing constraints on construction demand. The company said its long-term position could benefit from a recovery in housebuilding and from policy support for affordable and council housing, where it believes its extruded brick, Aircrete, aggregate block and flooring products are well suited. Guyatt will leave Forterra at the end of October. The company has appointed Lisa Oxenham as its next chief financial officer, with her start date expected to be no later than January. About Forterra (LON:FORT) Forterra is a leading UK manufacturer of essential clay and concrete building products, with a unique combination of strong market positions in clay bricks, concrete blocks and precast concrete flooring. Our heritage dates back many decades and the durability, longevity and inherent sustainability of our products is evident in the construction of buildings that last for generations; wherever you are in Britain, you won't be far from a building with a Forterra product within its fabric.Our clay brick business combines our extensive secure mineral reserves with modern and efficient high-volume manufacturing processes to produce large quantities of extruded and soft mud bricks, primarily for the new build housing market. 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 contact@marketbeat.com. The article "Forterra H1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.