Lifecore Biomedical to Report Financial Results for the First Quarter Ended March 31, 2026, on May 6, 2026

Webcast Scheduled for Wednesday, May 6 at 8:00 a.m. Eastern

CHASKA, Minn., April 29, 2026 (GLOBE NEWSWIRE) — Lifecore Biomedical, Inc. (NASDAQ: LFCR) (“Lifecore”), a fully integrated injectables contract development and manufacturing organization (“CDMO”), today announced that it will report financial results for the first quarter ended March 31, 2026, on Wednesday, May 6, 2026, before the market opens. At 8:00 a.m. Eastern Time that day, members of Lifecore’s senior management team will host a webcast to discuss the results.

To listen to the live webcast, or access the archived webcast, please visit the Investor Events & Presentations page of Lifecore’s website at: https://ir.lifecore.com/events-presentations. Following the live webcast, an archived version of the webcast will be available on the company’s website for 30 days.
  
About Lifecore Biomedical 
Lifecore Biomedical, Inc. (Nasdaq: LFCR) is a fully integrated injectables contract development and manufacturing organization (CDMO) that offers highly differentiated capabilities in the development, fill and finish of sterile injectable pharmaceutical products in syringes, vials, and cartridges, including complex formulations. As a leading manufacturer of premium, injectable-grade hyaluronic acid, Lifecore brings more than 40 years of expertise as a partner for global and emerging biopharmaceutical and biotechnology companies across multiple therapeutic categories to bring their innovations to market. For more information about the company, visit Lifecore’s website at www.lifecore.com.

Lifecore Biomedical, Inc. Contact Information:

Vida Strategic Partners

Stephanie Diaz (Investors)
415-675-7401
[email protected]

Jennifer Arcure (Media)
917-603-0681
[email protected]

Lifecore Biomedical

Ryan D. Lake (CFO)
952-368-6244
[email protected]



Empire State Realty Trust Announces First Quarter 2026 Results

Empire State Realty Trust Announces First Quarter 2026 Results

– Net Income Per Fully Diluted Share of $0.01 –

– Core FFO Per Fully Diluted Share of $0.20 –

– Acquired Prime Retail Asset in Williamsburg for $46M with Recycled Investment Capacity –

– Completed $184M of Financings that Extend Debt Maturities –

– 2026 Outlook Unchanged –

NEW YORK–(BUSINESS WIRE)–
Empire State Realty Trust, Inc. (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of well-leased, top of tier, modernized, amenitized, and well-located office, retail, and multifamily assets. ESRT’s flagship Empire State Building, the “World’s Most Famous Building,” features its iconic Observatory. The Company is a recognized leader in energy efficiency and indoor environmental quality. Today the Company reported its operational and financial results for the first quarter of 2026. All per share amounts are on a fully diluted basis, where applicable.

First Quarter and Recent Highlights

  • Net Income of $0.01 per share.

  • Core Funds From Operations (“Core FFO”) of $0.20 per share.

  • Same-Store Property Cash Net Operating Income (“NOI”), excluding lease termination fees, increased 5.5% year-over-year. The first quarter change was primarily attributed to increases in base rent and tenant reimbursement income, as well as approximately $3.0 million of first quarter 2026 non-recurring items, which predominately consisted of lease modification revenue and net insurance recoveries. These increases to cash NOI were partially offset by operating expense increases. Adjusted for the previously noted non-recurring items, Same-Store Property Cash NOI increased by 1.3%.

  • The total commercial portfolio was 93.2% leased and 88.2% occupied as of March 31, 2026, with occupancy reduced by approximately 140 basis points due to temporary downtime related to the previously disclosed FDIC expiration, which is fully re-leased.

  • Signed 113,484 rentable square feet of commercial leases, inclusive of 90,687 rentable square feet of office leases, in the first quarter.

  • In the office portfolio, blended leasing spreads were +6.8% in the first quarter, the 19th consecutive quarter of positive leasing spreads.

  • Empire State Building Observatory generated NOI of $10.6 million in the seasonally light first quarter, which represents a year-over-year decline of approximately $3.5 million, excluding gift shop license revenue. As previously announced, gift shop license fees are expected to be more heavily weighted to the fourth quarter in 2026 as compared to 2025 due to a COVID-era license amendment.

  • Acquired a newly constructed, currently vacant, prime retail asset located at 41-55 North 6th Street in Williamsburg, Brooklyn for $46 million, which represents a redeployment of investment capacity from the December 2025 disposition of Metro Center, the Company’s last suburban commercial asset, without a recognition of a taxable gain, as previously announced.

  • Closed on a $53.5 million mortgage refinancing for 10 Union Square East, as previously announced.

  • In mid-April, announced the issuance of $130 million of 6-year senior unsecured notes in a private placement transaction. The Company now has no unaddressed debt maturity until January 2028.

Property Operations1

As of March 31, 2026, the Company’s property portfolio comprised 7.6 million rentable square feet of office space, 0.8 million rentable square feet of retail space and 743 residential units, which were occupied and leased as shown below.

 

March 31, 20262,3

 

December 31, 20252,3

 

March 31, 20252

Percent occupied:

 

Total commercial portfolio

 

88.2%

 

90.3%

 

87.9%

Office

 

87.9%

 

89.9%

 

87.5%

Retail

 

91.2%

 

94.4%

 

91.2%

Percent leased (includes signed leases not commenced):

Total commercial portfolio

 

93.2%

 

93.6%

 

92.5%

Office

 

93.0%

 

93.5%

 

92.3%

Retail

 

95.4%

 

95.3%

 

94.1%

Total multifamily portfolio

 

96.4%

 

97.8%

 

99.0%

1 Excludes approximately 15,000 square feet of retail space under redevelopment related to the June 2025 acquisition of 86-90 North 6th Street, approximately 396,000 square feet of space, comprised of 368,000 square feet of office space and 28,000 square feet of retail space, related to the December 2025 acquisition of 130 Mercer Street, which will be redeveloped, and approximately 22,000 square feet of retail space related to the March 2026 acquisition of 41-55 North 6th Street, which is newly constructed and currently vacant.

2 All occupancy and leased percentages exclude broadcasting and storage space.

3 Occupancy and leased percentages for March 31, 2026 and December 31, 2025 exclude Metro Center, which was sold during the fourth quarter 2025.

Leasing

The tables that follow summarize leasing activity for the first quarter of 2026. During this period, the Company signed 11 leases that totaled 113,484 square feet with an average lease duration of 12.2 years.

Total Portfolio

Total Portfolio

 

Leases executed

 

Square footage

executed

 

Average cash rent psf – leases

executed

 

% of new cash rent over / under previously

escalated rents

Office

 

9

 

90,687

 

59.46

 

6.8 %

Retail

 

2

 

22,797

 

135.49

 

(1.1) %

Total Overall

 

11

 

113,484

 

74.73

 

3.8 %

Office Portfolio

Office Portfolio

 

Leases executed

 

Square footage

executed

 

Average cash rent psf – leases

executed

 

% of new cash rent over / under previously

escalated rents

New Office

 

7

 

83,397

 

58.54

 

5.9 %

Renewal Office

 

2

 

7,290

 

70.00

 

16.3 %

Total Office

 

9

 

90,687

 

59.46

 

6.8 %

Leasing Activity Highlights

  • A 13-year 60,003 square foot new office lease with Steve Madden at 501 Seventh Avenue.

  • A 20-year 21,683 square foot renewal retail lease with JP Morgan Chase at One Grand Central Place.

  • Subsequent to quarter-end, a 10.5-year 38,084 square foot new full-floor office lease with a financial services tenant at 130 Mercer Street.

Balance Sheet

The Company had $0.6 billion of total liquidity as of March 31, 2026, which was comprised of $69 million of cash, plus $530 million available under its revolving credit facility. At March 31, 2026, the Company had total debt outstanding of approximately $2.3 billion at a weighted average interest rate of 4.54%. At March 31, 2026, the Company’s ratio of net debt to adjusted EBITDA was 6.3x.

The Company closed on a $53.5 million mortgage refinancing for 10 Union Square East, as previously announced. The 10-year interest-only loan carries a fixed interest rate of 5.3% and replaces a $50.0 million loan that matured on April 1, 2026. In mid-April, the Company entered into a note purchase agreement to issue $130 million of senior unsecured notes in a private placement transaction at a fixed rate of 5.99% that matures in 2032. The private placement is scheduled to fund on July 15, 2026.

Portfolio Transaction Activity

The Company acquired a newly constructed, prime retail asset located at 41-55 North 6th Street in Williamsburg, Brooklyn for $46.0 million at the end of the first quarter, as previously announced. The approximately 22,000 square foot property, currently vacant, is located between Kent and Wythe Avenues and in close proximity to the Company’s existing 102,000 square foot portfolio of prime retail assets along North 6th Street. The property adds eight new storefronts to the Company’s already dominant position along the corridor. This acquisition, together with the Company’s purchase of 86-90 North 6th Street in mid-2025, completed the redeployment of investment capacity from the December 2025 disposition of Metro Center, its last suburban commercial asset, without a recognition of a taxable gain. These transactions were part of the Company’s strategy to recycle capital from non-core suburban assets into high-quality NYC assets with stronger long-term cash flow growth prospects.

Dividend

On March 31, 2026, the Company paid a quarterly dividend of $0.035 per share or unit, as applicable, for the first quarter of 2026 to holders of the Company’s Class A common stock (NYSE: ESRT) and Class B common stock and to holders of the Series ES, Series 250 and Series 60 partnership units (NYSE Arca: ESBA, FISK and OGCP, respectively) and Series PR partnership units of Empire State Realty OP, L.P., the Company’s operating partnership (the “Operating Partnership”).

On March 31, 2026, the Company paid a quarterly preferred dividend of $0.15 and $0.175 per unit for the first quarter of 2026 to holders of the Operating Partnership’s Series 2014 and 2019 private perpetual preferred units, respectively.

2026 Earnings Outlook

The Company provides 2026 guidance and key assumptions, as summarized in the table below. The Company’s guidance does not include the impact of any significant future lease termination fee income or any unannounced acquisition, disposition or other capital markets activity.

Key Assumptions

2026 Guidance

2025 Actual

Results

Comments

Earnings

 

 

 

Core FFO Per Fully Diluted Share

$0.85 to $0.89

$0.87

  • 2026 assumes ~($0.03) impact from temporary downtime associated with the previously disclosed FDIC expiration, which has been re-leased

Property Assumptions

 

 

 

Commercial Occupancy at year-end

90% to 92%

90.3%

 

SS Property Cash NOI

(excluding lease termination fees)

-1.5% to +2.0%

+0.6% (ex-one-

time items)

  • Assumes positive y/y revenue growth

  • Assumes a ~2.0 to 4.0% y/y increase in operating expenses and real estate taxes

  • 2026 assumes ~(270 bps) impact from temporary downtime associated with the previously disclosed FDIC expiration, which has been re-leased

Observatory Drivers

 

 

 

Observatory NOI

$87M to $92M

$90M

  • Reflects average quarterly expenses of ~$10M

Net Income (Loss) Attributable to Common Stockholders and the Operating Partnership

 

Low

 

High

 

$0.19

 

$0.23

Add:

 

Impairment Charge

 

0.00

 

0.00

Real Estate Depreciation & Amortization

 

0.65

 

0.65

Less:

 

 

 

 

Private Perpetual Distributions

 

0.02

 

0.02

Gain on Disposal of Real Estate, net

 

0.00

 

0.00

FFO Attributable to Common Stockholders and the Operating Partnership

 

$0.82

 

$0.86

Add:

 

 

 

 

Amortization of Below Market Ground Lease

 

0.03

 

0.03

Core FFO Attributable to Common Stockholders and the Operating Partnership

 

$0.85

 

$0.89

The estimates set forth above may be subject to fluctuations as a result of several factors, including continued impacts of changes in the use of office space and remote work on our business and our market, performance of the Observatory (including tourism levels, currency and geopolitical impacts, weather and competition), our ability to complete planned capital improvements in line with budget, costs of integration of completed acquisitions, costs associated with future acquisitions or other transactions, straight-line rent adjustments and the amortization of above and below-market leases. There can be no assurance that the Company’s actual results will not differ materially from the estimates set forth above.

Investor Presentation Update

The Company has posted on the “Investors” section of ESRT’s website the latest investor presentation, which contains additional information on its businesses, financial condition and results of operations.

Webcast and Conference Call Details

Empire State Realty Trust, Inc. will host a webcast and conference call, open to the general public, on Thursday, April 30, 2026 at 12:00 pm Eastern time.

The webcast will be available in the “Investors” section of ESRT’s website. To listen to the live broadcast, go to the site at least five minutes prior to the scheduled start time in order to register, download and install any necessary audio software. The conference call can also be accessed by dialing 1-877-407-3982 for domestic callers or 1-201-493-6780 for international callers.

Starting shortly after the call until May 14, 2026, a replay of the webcast will be available on the Company’s website, and a dial-in replay will be available by dialing 1-844-512-2921 for domestic callers or 1-412-317­6671 for international callers. The passcode for this dial-in replay is 13759470.

The Supplemental Report and Investor Presentation are additional components of the quarterly earnings announcement and are now available on the “Investors” section of ESRT’s website.

The Company uses, and intends to continue to use, the “Investors” page of its website, which can be found at www.esrtreit.com, as a means to disclose material nonpublic information and to comply with its disclosure obligations under Regulation FD, including, without limitation, through the posting of investor presentations that may include material nonpublic information. Accordingly, investors should monitor the “Investors” page, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.

About Empire State Realty Trust

Empire State Realty Trust, Inc. (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of well-leased, top of tier, modernized, amenitized, and well-located office, retail, and multifamily assets. ESRT’s flagship Empire State Building, the “World’s Most Famous Building,” features its iconic Observatory. The Company is a recognized leader in energy efficiency and indoor environmental quality. As of March 31, 2026, ESRT’s portfolio is comprised of approximately 8.0 million rentable square feet of office space, 0.8 million rentable square feet of retail space and 743 residential units. More information about Empire State Realty Trust can be found at esrtreit.com and by following ESRT on Facebook, Instagram, TikTok, X, and LinkedIn.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). We intend these forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts and can generally be identified by words such as “anticipate,” “believe,” “expect,” “intend,” “plan,” “project,” “estimate,” “may,” “will,” “should,” “would,” and similar expressions.

Forward-looking statements are based on our current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. These risks and uncertainties include, among others: economic and market conditions (including the impact of catastrophic events, pandemics, extreme weather, terrorism, armed hostilities, cybersecurity threats and other technology disruptions); increased costs due to tariffs or other economic factors; changes in the New York City office, retail, multifamily and tourism markets (including changes in the use of office space and remote work); leasing activity, tenant defaults, early terminations and renewals, occupancy levels and rental rates; performance of the Observatory (including tourism levels, currency and geopolitical impacts, weather and competition); interest rate volatility and capital markets conditions, including our ability to refinance, restructure or extend indebtedness; real estate valuation declines and potential impairment charges; our ability to execute capital projects and complete acquisitions on acceptable terms; risks relating to governmental regulation, environmental and climate-related requirements (including Local Law 97), and our ability to achieve sustainability goals and metrics; risks relating to our ground leases; our ability to maintain our qualification as a REIT; potential taxable gain arising from transactions structured to qualify under Section 1031; legal proceedings; and risks relating to our disclosure controls and internal control over financial reporting. For a discussion of these and other factors, see the section entitled “Risk Factors” of our annual report on Form 10-K for the year ended December 31, 2025 and any additional factors that may be contained in any filing we make with the U.S. Securities and Exchange Commission.

Any forward-looking statement speaks only as of the date of this press release. We undertake no obligation to update or revise any forward-looking statement to reflect subsequent events or circumstances, except as required by law.

Empire State Realty Trust, Inc.

Condensed Consolidated Statements of Operations

(unaudited and amounts in thousands, except per share data)

       
 

Three Months Ended March 31,

 

2026

 

2025

Revenues

 

Rental revenue

 

$

166,105

 

 

$

154,542

 

Observatory revenue

 

 

18,510

 

 

 

23,161

 

Lease termination fees

 

 

1,356

 

 

 

 

Third-party management and other fees

 

 

277

 

 

 

431

 

Other revenue and fees

 

 

4,077

 

 

 

1,932

 

Total revenues

 

 

190,325

 

 

 

180,066

 

Operating expenses

 

 

 

 

Property operating expenses

 

 

47,744

 

 

 

45,060

 

Ground rent expenses

 

 

2,331

 

 

 

2,331

 

General and administrative expenses

 

 

18,093

 

 

 

16,940

 

Observatory expenses

 

 

7,868

 

 

 

8,118

 

Real estate taxes

 

 

34,613

 

 

 

33,050

 

Depreciation and amortization

 

 

50,219

 

 

 

48,779

 

Total operating expenses

 

 

160,868

 

 

 

154,278

 

Total operating income

 

 

29,457

 

 

 

25,788

 

Other income (expense):

 

 

 

 

Interest income

 

 

613

 

 

 

3,786

 

Interest expense

 

 

(28,137

)

 

 

(26,938

)

Interest expense associated with property in receivership

 

 

 

 

 

(647

)

Gain on disposition of properties

 

 

 

 

 

13,170

 

Income before income taxes

 

 

1,933

 

 

 

15,159

 

Income tax benefit

 

 

1,062

 

 

 

619

 

Net income

 

 

2,995

 

 

 

15,778

 

Net income attributable to non-controlling interests:

 

 

 

 

Non-controlling interest in the Operating Partnership

 

 

(710

)

 

 

(5,508

)

Preferred unit distributions

 

 

(1,050

)

 

 

(1,050

)

Net income attributable to common stockholders

 

$

1,235

 

 

$

9,220

 

Total weighted average shares

 

 

 

 

Basic

 

 

170,673

 

 

 

167,181

 

Diluted

 

 

269,348

 

 

 

269,529

 

Earnings per share attributable to common stockholders

 

 

 

 

Basic

 

$

0.01

 

 

$

0.06

 

Diluted

 

$

0.01

 

 

$

0.05

 

Empire State Realty Trust, Inc.

Reconciliation of Net Income to Funds From Operations (“FFO”),

Modified Funds From Operations (“Modified FFO”) and Core Funds From Operations (“Core FFO”)

(unaudited and amounts in thousands, except per share data)

   
 

Three Months Ended March 31,

 

 

2026

 

2025

Net income

 

$

2,995

 

 

$

15,778

 

Preferred unit distributions

 

 

(1,050

)

 

 

(1,050

)

Real estate depreciation and amortization

 

 

49,292

 

 

 

47,871

 

Gain on disposition of properties

 

 

 

 

 

(13,170

)

FFO attributable to common stockholders and Operating Partnership units

 

 

51,237

 

 

 

49,429

 

 

Amortization of below-market ground leases

 

 

1,958

 

 

 

1,958

 

Modified FFO attributable to common stockholders and Operating Partnership units

 

 

53,195

 

 

 

51,387

 

 

Interest expense associated with property in receivership

 

 

 

 

 

647

 

Core FFO attributable to common stockholders and Operating Partnership units

 

$

53,195

 

 

$

52,034

 

 

Total weighted average shares and Operating Partnership units

 

 

 

 

Basic

 

 

268,792

 

 

 

267,073

 

Diluted

 

 

269,348

 

 

 

269,529

 

 

FFO per share

 

 

 

 

Basic

 

$

0.19

 

 

$

0.19

 

Diluted

 

$

0.19

 

 

$

0.18

 

 

Modified FFO per share

 

 

 

 

Basic

 

$

0.20

 

 

$

0.19

 

Diluted

 

$

0.20

 

 

$

0.19

 

 

Core FFO per share

 

 

 

 

Basic

 

$

0.20

 

 

$

0.19

 

Diluted

 

$

0.20

 

 

$

0.19

 

Empire State Realty Trust, Inc.

Reconciliation of Net Income to Cash NOI and Same Store Cash NOI

(unaudited and amounts in thousands)

 
 

Three Months Ended March 31,

 

 

2026

 

2025

Net income

 

$

2,995

 

 

$

15,778

 

Add:

 

 

 

 

General and administrative expenses

 

 

18,093

 

 

 

16,940

 

Depreciation and amortization

 

 

50,219

 

 

 

48,779

 

Interest expense

 

 

28,137

 

 

 

26,938

 

Interest expense associated with property in receivership

 

 

 

 

 

647

 

Income tax benefit

 

 

(1,062

)

 

 

(619

)

Less:

 

 

 

 

Gain on disposition of property

 

 

 

 

 

(13,170

)

Third-party management and other fees

 

 

(277

)

 

 

(431

)

Interest income

 

 

(613

)

 

 

(3,786

)

Net operating income

 

 

97,492

 

 

 

91,076

 

Straight-line rent

 

 

(7,209

)

 

 

(5,283

)

Above/below-market rent revenue amortization

 

 

(670

)

 

 

(798

)

Below-market ground lease amortization

 

 

1,958

 

 

 

1,958

 

Total cash NOI – including Observatory and lease termination fees

 

 

91,571

 

 

 

86,953

 

Less: Observatory NOI

 

 

(10,642

)

 

 

(15,043

)

Less: cash NOI from non-Same Store properties

 

 

(5,383

)

 

 

(1,583

)

Total Same Store property cash NOI – including lease termination fees

 

 

75,546

 

 

 

70,327

 

Less: Lease termination fees

 

 

(1,356

)

 

 

 

Total Same Store property cash NOI – excluding Observatory and lease termination fees

 

$

74,190

 

 

$

70,327

 

Empire State Realty Trust, Inc.

Condensed Consolidated Balance Sheets

(unaudited and amounts in thousands)

 
 

March 31, 2026

 

December 31, 2025

Assets

 

Real estate properties, at cost

 

$

4,267,420

 

 

$

4,205,907

 

Less: accumulated depreciation

 

 

(1,400,827

)

 

 

(1,366,829

)

Real estate properties, net

 

 

2,866,593

 

 

 

2,839,078

 

Cash and cash equivalents

 

 

68,820

 

 

 

132,657

 

Restricted cash

 

 

37,326

 

 

 

33,854

 

Tenant and other receivables

 

 

23,667

 

 

 

22,063

 

Deferred rent receivables

 

 

261,275

 

 

 

255,270

 

Prepaid expenses and other assets

 

 

62,849

 

 

 

93,355

 

Deferred costs, net

 

 

262,212

 

 

 

267,682

 

Acquired below market ground leases, net

 

 

303,621

 

 

 

305,579

 

Right of use assets

 

 

27,882

 

 

 

27,944

 

Goodwill

 

 

491,479

 

 

 

491,479

 

Total assets

 

$

4,405,724

 

 

$

4,468,961

 

 

Liabilities and equity

 

 

 

 

Mortgage notes payable, net

 

$

621,392

 

 

$

619,269

 

Senior unsecured notes, net

 

 

1,270,909

 

 

 

1,270,668

 

Unsecured term loan facility, net

 

 

336,972

 

 

 

336,794

 

Unsecured revolving credit facility

 

 

90,000

 

 

 

145,000

 

Accounts payable and accrued expenses

 

 

111,918

 

 

 

120,150

 

Acquired below market leases, net

 

 

37,948

 

 

 

39,767

 

Ground lease liabilities

 

 

27,882

 

 

 

27,944

 

Deferred revenue and other liabilities

 

 

57,601

 

 

 

59,901

 

Tenants’ security deposits

 

 

26,964

 

 

 

27,276

 

Total liabilities

 

 

2,581,586

 

 

 

2,646,769

 

Total equity

 

 

1,824,138

 

 

 

1,822,192

 

Total liabilities and equity

 

$

4,405,724

 

 

$

4,468,961

 

 

Investors and Media

Empire State Realty Trust Investor Relations

(212) 850-2678

[email protected]

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California Water Service Group Board of Directors Declares 325th Consecutive Quarterly Dividend

SAN JOSE, Calif., April 29, 2026 (GLOBE NEWSWIRE) — At its meeting on April 29, 2026, the California Water Service Group (NYSE: CWT) Board of Directors declared the Company’s 325th consecutive quarterly dividend in the amount of $0.3350 per common share, payable on May 22, 2026, to stockholders of record as of the close of business on May 11, 2026.

About California Water Service Group

California Water Service Group is the largest regulated water utility in the western United States. It provides high-quality, reliable water and/or wastewater services to more than 2.2 million people in California, Hawaii, New Mexico, Washington, and Texas through its regulated subsidiaries, California Water Service, Hawaii Water Service, New Mexico Water Service, and Washington Water Service, and its utility holding company, Texas Water Service. This year, the company commemorates a century of service.

Group’s purpose is to enhance the quality of life for customers, communities, employees, and stockholders. To do so, it invests responsibly in water and wastewater infrastructure, sustainability initiatives, and community well-being. The company’s nearly 1,300 employees live by a set of strong core values and share a commitment to protecting the planet, caring for people, and operating with the utmost integrity. The company has been named one of “America’s Most Responsible Companies” and the “World’s Most Trustworthy Companies” by Newsweek, a USA Top Workplace, and a Great Place to Work®.  More information is available at www.calwatergroup.com.


Forward Looking Statements

This news release contains forward-looking statements within the meaning established by the Private Securities Litigation Reform Act of 1995 (“PSLRA”). The forward-looking statements are intended to qualify under provisions of the federal securities laws for “safe harbor” treatment established by the PSLRA. Forward-looking statements in this news release are based on currently available information, expectations, estimates, assumptions and projections, and our management’s beliefs, assumptions, judgments and expectations about us, the water utility industry and general economic conditions. These statements are not statements of historical fact. When used in our documents, statements that are not historical in nature, including words like will, would, expects, intends, plans, believes, may, could, estimates, assumes, anticipates, projects, progress, predicts, hopes, targets, forecasts, should, seeks or variations of these words or similar expressions, are intended to identify forward-looking statements. Examples of forward-looking statements in this news release include, but are not limited to, statements describing the expected timing of the quarterly dividend payment. Forward-looking statements are not guarantees of future performance. They are based on numerous assumptions that we believe are reasonable, but they are open to a wide range of uncertainties and business risks. Consequently, actual results or outcomes may vary materially from what is contained in a forward-looking statement. Factors that may cause actual results or outcomes to be different than those expected or anticipated include, but are not limited to, those described under the section entitled “Risk Factors” and elsewhere in our most recent Annual Report on Form 10-K, our subsequent Quarterly Reports on Form 10-Q, and our other Securities and Exchange Commission filings. In light of these risks, uncertainties, and assumptions, investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this news release. We are not under any obligation, and we expressly disclaim any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events, or otherwise.

CONTACT:
Shannon Dean,
[email protected],
(408) 367-8243

Jim Lynch,
(408) 367-8200



Nuveen Municipal Closed-End Funds Announce Proposed Mergers

Nuveen Municipal Closed-End Funds Announce Proposed Mergers

CHICAGO–(BUSINESS WIRE)–
The Boards of Trustees of Nuveen Virginia Quality Municipal Income Fund (NYSE: NPV), Nuveen Minnesota Quality Municipal Income Fund (NYSE: NMS) and Nuveen Municipal Credit Income Fund (NYSE: NZF) have approved a proposal to merge the funds. The proposed mergers, if approved by shareholders, would combine NPV and NMS into NZF. The mergers are intended to create a larger fund with increased trading volume on the exchange for common shares.

The proposed mergers for the funds are subject to certain conditions, including necessary approval by the funds’ shareholders. NPV and NMS will each hold Special Meetings of Shareholders for their common and preferred shareholders to consider approval of the merger proposal. In addition, NZF will hold a Special Meeting of Shareholders for its preferred shareholders to consider approval of the merger proposal. Detailed information on the proposed mergers will be contained in proxy materials expected to be filed in the coming weeks.

Nuveen is a leading sponsor of closed-end funds (CEFs) with $52 billion in assets under management across 40 CEFs as of 31 Mar 2026. The funds offer exposure to a broad range of asset classes and are designed for income-focused investors seeking regular distributions. Nuveen has more than 35 years of experience managing CEFs.

About Nuveen

Nuveen, a global asset manager, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $1.4 trillion in assets under management as of 31 Mar 2026 and operations in 32 countries. Its investment specialists offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information, please visit www.nuveen.com. Nuveen Securities, LLC, member FINRA and SIPC.

The information contained on the Nuveen website is not a part of this press release.

FORWARD-LOOKING STATEMENTS

Certain statements made or referenced in this release may be forward-looking statements. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements due to numerous factors. These include, but are not limited to:

  • market developments;

  • legal and regulatory developments;

  • the ability to satisfy conditions to the proposed mergers; and

  • other additional risks and uncertainties.

You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Nuveen and the closed-end funds managed by Nuveen and its affiliates undertake no responsibility to update publicly or revise any forward-looking statements.

The annual and semi-annual reports and other regulatory filings of Nuveen closed-end funds with the Securities and Exchange Commission (“SEC”) are accessible on the SEC’s website at www.sec.gov and on Nuveen’s website at www.nuveen.com/cef and may discuss the abovementioned or other factors that affect Nuveen closed-end funds.

IMPORTANT INFORMATION

In connection with the merger proposal discussed herein, the funds expect to file with the SEC solicitation materials in the form of a proxy statement and/or a joint proxy statement/prospectus that will be included in a registration statement on Form N-14. After the registration statement is filed with the SEC, it may be amended or withdrawn and the proxy statement and/or joint proxy statement/prospectus will not be distributed to shareholders unless and until the registration statement is declared effective by the SEC. Investors are urged to read the solicitation materials and any other relevant documents when they become available because they will contain important information about the merger proposal. After they are filed, free copies of the solicitation materials will be available on the SEC’s website at www.sec.gov.

This communication is for informational purposes only and is not a solicitation of a proxy from any fund shareholder and does not constitute an offer of any securities for sale. No offer of securities will be made except pursuant to a prospectus meeting the requirements of Section 10 of the Securities Act of 1933. However, the funds, Nuveen Fund Advisors and certain of their respective directors/trustees, officers and affiliates may be deemed under the rules of the SEC to be participants in the solicitation of proxies from shareholders in connection with the merger proposal discussed herein. Information about the directors/trustees and officers of the funds may be found in their respective annual reports previously filed with the SEC.

Important information on risk

Past performance is no guarantee of future results. All investments carry a certain degree of risk, including the possible loss of principal, and there is no assurance that an investment will provide positive performance over any period of time. Certain products and services may not be available to all entities or persons. There is no guarantee that investment objectives will be achieved.

Closed-end funds frequently trade at a discount from net asset value (NAV). At any point in time, including when sold, shares may be worth more or less than the purchase price or the net asset value, even after considering the reinvestment of fund distributions. It is important to consider the objectives, risks, charges and expenses of any fund before investing.

5431221

For more information, please visit Nuveen’s CEF homepage www.nuveen.com/closed-end-funds or contact:

Financial Professionals:

800-752-8700

Investors:

800-257-8787

Media:

[email protected]

KEYWORDS: Illinois New York United States North America

INDUSTRY KEYWORDS: Banking Asset Management Professional Services Finance

MEDIA:

Date: Wednesday, May 13th, 2026
Time: 4:30 p.m. ET
Participant Link: Registration – Click here
Webcast Link: Registration – Click here
   

Participants may access a live webcast of the call on the Investors page of the Bionano website. A replay of the conference call and webcast will be archived on Bionano’s investor relations website at https://ir.bionano.com/ for at least 30 days.

Contacts

Company Contact:

Erik Holmlin, CEO
Bionano Genomics, Inc.
+1 (858) 888-7610
[email protected]

Investor Relations:

Webb Campbell
Gilmartin Group
+1 (415) 520-5817
[email protected]



Spire Global Schedules First Quarter 2026 Results Conference Call

Spire Global Schedules First Quarter 2026 Results Conference Call

VIENNA, Va.–(BUSINESS WIRE)–Spire Global, Inc. (NYSE: SPIR) (“Spire” or “the Company”), a global provider of space-based data, analytics and intelligence, will hold a conference call with investors and analysts on Wednesday, May 13, 2026 at 5:00 p.m. ET to discuss the Company’s first quarter 2026 financial results. The news release announcing the results will be disseminated before the call.

A live webcast of the conference call will be available on Spire Global’s Investor Relations website at ir.spire.com. The toll-free dial-in number for the live audio call is 877-841-2968. The conference ID for the call is 13760329. A replay of the webcast will be available for six months at ir.spire.com.

About Spire Global, Inc.

Spire (NYSE: SPIR) is a global provider of space-based data, analytics and space services, offering unique datasets and powerful insights about Earth so that organizations can make decisions with confidence in a rapidly changing world. Spire builds, owns, and operates a fully deployed satellite constellation that observes the Earth in real time using radio frequency technology. The data acquired by Spire’s satellites provides global weather intelligence, ship and plane movements, and spoofing and jamming detection to better predict how their patterns impact economies, global security, business operations, and the environment. Spire also offers Space as a Service solutions that empower customers to leverage its established infrastructure to put their business in space. Spire has offices across the U.S., Canada, UK, Luxembourg, and Germany. To learn more, visit www.spire.com.

For Media:

Sarah Freeman

Head of Communications

[email protected]

For Investors:

Benjamin Hackman

Head of Investor Relations

[email protected]

KEYWORDS: Virginia United States North America

INDUSTRY KEYWORDS: Technology Satellite Aerospace Professional Services Manufacturing Software Hardware Data Analytics Data Management

MEDIA:

Logo
Logo

Sight Sciences to Present at Two Upcoming Investor Conferences

MENLO PARK, Calif., April 29, 2026 (GLOBE NEWSWIRE) — Sight Sciences, Inc. (Nasdaq: SGHT) (Sight Sciences or the Company), an eyecare technology company focused on developing and commercializing innovative, interventional technologies intended to transform care and improve patients’ lives, today announced plans to present at two upcoming conferences.

  • BofA Securities 2026 Health Care Conference in Las Vegas, NV on Wednesday, May 13, 2026, at 3:15 pm PT / 6:15 pm ET.
  • Stifel 2026 Virtual Ophthalmology Forum on Tuesday, May 26, 2026, at 9:00 am PT / 12:00 pm ET.

Interested parties may access a live and archived webcast of the presentation and fireside chat on the “Investors” section of the Company’s website at https://investors.sightsciences.com/.

About Sight Sciences

Sight Sciences is an eyecare technology company focused on developing and commercializing innovative and interventional solutions intended to transform care and improve patients’ lives. Using minimally invasive or non-invasive approaches to target the underlying causes of the world’s most prevalent eye diseases, Sight Sciences seeks to create more effective treatment paradigms that enhance patient care and supplant conventional outdated approaches. The Company’s OMNI® Surgical System and OMNI® Edge Surgical System are implant-free, minimally invasive glaucoma surgery technologies indicated in the United States to reduce intraocular pressure in adult patients with primary open-angle glaucoma. The OMNI Surgical System is CE Marked for the catheterization and transluminal viscodilation of Schlemm’s canal and cutting of the trabecular meshwork to reduce intraocular pressure in adult patients with open-angle glaucoma. Glaucoma is the world’s leading cause of irreversible blindness. The SION® Surgical System is a bladeless, manually operated device used in ophthalmic surgical procedures to excise trabecular meshwork. The Company’s TearCare® System is 510(k) cleared in the United States for the application of localized heat therapy in adult patients with evaporative dry eye disease due to meibomian gland disease (MGD), enabling clearance of gland obstructions by physicians to address the leading cause of dry eye disease. Visit www.sightsciences.com for more information.

Sight Sciences and TearCare are trademarks of Sight Sciences registered in the United States. OMNI, SION, SmartLids, and the Sight Sciences logo are trademarks of Sight Sciences registered in the United States, European Union and other territories.

© 2026 Sight Sciences. All rights reserved.

Media contact:


[email protected]

Investor contact:

Philip Taylor
Gilmartin Group
415.937.5406
[email protected]



INVO Fertility Receives Nasdaq Notification Regarding Late Filing of Annual Report on Form 10-K

SARASOTA, Fla., April 29, 2026 (GLOBE NEWSWIRE) — INVO Fertility, Inc. (Nasdaq: IVF) (“INVO” or the “Company”), a healthcare services fertility company focused on expanding access to advanced reproductive treatment through the establishment, acquisition and operation of fertility clinics and related businesses and technologies, today announced that on April 23, 2026, it received a written notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Rule”), which requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (“SEC”). Specifically, the Company has not yet filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the “Annual Report”), which was due no later than April 15, 2026.

The Notice has no immediate effect on the listing of the Company’s common stock on Nasdaq, and the Company’s common stock will continue to trade on Nasdaq under the symbol “IVF” at this time.

The Company is working diligently to complete and file the Annual Report as soon as practicable. The delay in filing is due to additional time required to review certain complex accounting matters, including the tax provision accounting, certain warrant accounting, and variable interest entity accounting. The Company intends to file the Annual Report as promptly as possible.

Pursuant to Nasdaq Listing Rule 5810(c)(2)(F), the Company has 60 calendar days from the date of the Notice to submit a plan to Nasdaq to regain compliance with the Rule. If Nasdaq accepts the Company’s plan, Nasdaq may grant the Company up to 180 calendar days from the due date of the Annual Report to regain compliance. If Nasdaq does not accept the Company’s plan, the Company will have the opportunity to appeal that decision before a Nasdaq Hearings Panel.

This press release is being issued pursuant to Nasdaq Listing Rule 5810(b), which requires prompt public disclosure of receipt of a deficiency notice.

About INVO Fertility

We are a healthcare services fertility company dedicated to expanding access to assisted reproductive technology (“ART”) care to patients in need. Our principal commercial strategy is focused on building, acquiring, and operating fertility clinics, including “INVO Centers” dedicated primarily to offering the intravaginal culture (“IVC”) procedure enabled by our INVOcell® medical device (“INVOcell”) and US-based, profitable in vitro fertilization (“IVF”) clinics. We have four operational fertility clinics in the United States. We also continue to engage in the sale and distribution of INVOcell to third-party owned and operated fertility clinics. INVOcell is a proprietary and revolutionary medical device, and the first to allow fertilization and early embryo development to take place in vivo within the woman’s body. The IVC procedure provides patients with a more connected, intimate, and affordable experience in comparison to other ART treatments. We believe the IVC procedure can deliver comparable results at a fraction of the cost of traditional IVF and is a significantly more effective treatment than intrauterine insemination. For more information, please visit invofertility.com.

Safe Harbor Statement

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company invokes the protections of the Private Securities Litigation Reform Act of 1995. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategies, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties, and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth in our filings at www.sec.gov. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events, or otherwise.

For more information, please contact:

INVO Fertility, Inc.

Steve Shum, CEO

978-878-9505
[email protected]

Investor Contact

Lytham Partners, LLC

Robert Blum

602-889-9700
[email protected]



Flowserve Corporation Reports First Quarter 2026 Results

Flowserve Corporation Reports First Quarter 2026 Results

Flowserve Business System Delivers Strong Execution; Reaffirms Full-Year EPS Guidance

DALLAS–(BUSINESS WIRE)–
Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, reported its financial results for the first quarter ended March 31, 2026.

Highlights:

  • First quarter bookings of $1.15 billion, including:

    • Over $110 million of nuclear bookings

    • $680 million of aftermarket bookings

  • First quarter operating margin of 11.2% decreased 30 basis points and adjusted1 operating margin2 of 15.1% expanded 230 basis points compared to the prior year period

  • First quarter reported EPS of $0.64 and adjusted EPS3 of $0.85

    • Reported and adjusted EPS include a $0.19 benefit from recoverable IEEPA tariffs, offset by a ($0.06) impact from a taxing authority matter in Latin America and a ($0.06) headwind related to ongoing conflict in the Middle East

  • Reaffirmed full-year 2026 adjusted EPS guidance3 of $4.00 to $4.20

  • Supported Middle East customers with their critical infrastructure needs while prioritizing employee safety

Management Commentary:

“Our consistent execution of the Flowserve Business System resulted in strong margin and earnings expansion in the first quarter,” said Scott Rowe, Flowserve’s President and Chief Executive Officer. “I am proud of our global team’s continued demonstration of discipline and resilience in a highly dynamic environment. As we navigate the effects of the Middle East conflict, our priority remains employee safety while supporting our customers to ensure mission-critical flow control assets continue to operate. “

Rowe continued, “Looking ahead to the balance of 2026, I am confident that our focus on operational excellence and consistent execution will enable us to successfully manage through the evolving environment and capitalize on near-term opportunities. The underlying fundamentals of our business and end markets are robust, and we continue to maintain a favorable outlook supported by global megatrends and confidence in our proven growth strategy. Together, these factors position us well to drive value creation for our shareholders while progressing toward our 2030 sales, earnings, and operating margin expansion targets.”

Key Figures (unaudited):

(dollars in millions, except per share)

Q1 2026

Q1 2025

 

Change

 

Original Equipment Bookings

$467.9

 

$537.8

 

(13.0%)

 

Aftermarket Bookings

 

$680.3

 

$688.6

 

(1.2%)

Total Bookings

$1,148.2

 

$1,226.4

 

(6.4%)

 

 

 

 

 

 

 

 

Organic Sales4

 

 

 

 

(10.5%)

Acquisition/Divestiture Impact

 

 

 

 

20 bps

Foreign Exchange Impact

 

 

 

 

360 bps

Reported Sales

 

$1,068.3

 

$1,144.5

 

(6.7%)

 

 

 

 

 

 

 

 

 

Operating Margin

 

11.2%

 

11.5%

 

(30 bps)

 

Adjusted Operating Margin

15.1%

 

12.8%

 

230 bps

Earnings Per Share (EPS)

 

$0.64

 

$0.56

 

14.3%

 

Adjusted Earnings Per Share (EPS)

$0.85

 

$0.72

 

18.1%

Cash From Operations

 

($43.1)

 

($49.9)

 

$6.8

 

Backlog

 

$2,945.9

 

$2,902.9

 

1.5%

2026 Guidance3:

The Company updated 2026 guidance:

 

 

Prior

 

Current

 

 

Organic Sales Growth

 

+1% to +3%

 

(1%) to +2%

 

 

Impact From Acquisition/Divestiture

 

Approx. +300 bps

 

Approx. +300 bps

 

 

Impact From Foreign Exchange Translation

 

Approx. +100 bps

 

Approx. +100 bps

 

 

Total Sales Growth

 

+5% to +7%

 

+3% to +6%

 

 

Adjusted EPS

 

$4.00 to $4.20

 

$4.00 to $4.20

 

 

Net Interest Expense

 

Approx. $80 million

 

Approx. $85 million

 

 

Adjusted Tax Rate

 

21% to 22%

 

21% to 22%

 

 

Capital Expenditures

 

$90 million to $100 million

 

$90 million to $100 million

 

 

Full-year 2026 guidance assumes the acquisition of Trillium Flow Technologies’ Valves Division closes mid-year 2026 and, including incremental interest expense related to financing the acquisition, the acquisition will be roughly neutral to 2026 adjusted EPS. The guidance also assumes tariff rates in place as of April 2026.

Webcast and Conference Call Instructions:

Flowserve will host its conference call to discuss first quarter results on Thursday, April 30, 2026, at 10:00 a.m. Eastern Time. The call can be accessed by shareholders and other interested parties on Flowserve’s Investors page.

Footnotes

1 See Consolidated Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (unaudited) and Segment Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (unaudited) tables for a detailed reconciliation of reported results to adjusted measures.

2 Adjusted operating margin is calculated by dividing adjusted operating income by sales. Adjusted operating income is derived by excluding the adjusted items.

3 Adjusted earnings per share (EPS) excludes realignment expenses, the impact from other specific discrete and below-the-line foreign currency effects and utilizes the then-applicable FX rates and fully diluted shares. Adjusted full-year 2026 EPS guidance excludes certain other discrete items which may arise during the year.

4 Organic is defined as the change in sales, as defined by U.S. GAAP, excluding the impacts of currency translation and acquisitions and divestitures. The impact of currency translation is calculated by translating current year results on a monthly basis at prior year exchange rates for the same period.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

 

Three Months Ended March 31,

(Amounts in thousands, except per share data)

 

2026

 

 

 

2025

 

 

Sales

$

1,068,269

 

$

1,144,543

 

Cost of sales

 

(688,428

)

 

(775,209

)

Gross profit

 

379,841

 

 

369,334

 

Selling, general and administrative expense

 

(263,400

)

 

(243,177

)

Net earnings from affiliates

 

2,991

 

 

5,732

 

Operating income

 

119,432

 

 

131,889

 

Interest expense

 

(20,431

)

 

(19,175

)

Interest income

 

1,500

 

 

1,745

 

Other income (expense), net

 

6,999

 

 

(17,259

)

Earnings before income taxes

 

107,500

 

 

97,200

 

Provision for income taxes

 

(21,131

)

 

(17,743

)

Net earnings, including noncontrolling interests

 

86,369

 

 

79,457

 

Less: Net earnings attributable to noncontrolling interests

 

(4,688

)

 

(5,552

)

Net earnings attributable to Flowserve Corporation

$

81,681

 

$

73,905

 

 

Net earnings per share attributable to Flowserve Corporation common shareholders:

 

Basic

$

0.64

 

$

0.56

 

Diluted

 

0.64

 

 

0.56

 

 

Weighted average shares – basic

 

127,493

 

 

131,566

 

Weighted average shares – diluted

 

128,620

 

 

132,670

 

Consolidated Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (Unaudited)

(Amounts in thousands, except per share data)

 

Three Months Ended March 31, 2026

Gross Profit

Selling, General & Administrative Expense

Operating Income

Other Income (Expense), Net

Provision For (Benefit From) Income Taxes

Net Earnings (Loss)

Effective Tax Rate

Diluted EPS

Reported

$

379,841

 

$

263,400

 

$

119,432

 

$

6,999

 

$

21,131

 

$

81,681

 

19.7

%

0.64

 

Reported as a percent of sales

 

35.6

%

 

24.7

%

 

11.2

%

 

0.7

%

 

2.0

%

 

7.6

%

Realignment charges (a)

 

16,502

 

 

(12,465

)

 

28,967

 

 

 

 

4,443

 

 

24,524

 

15.3

%

0.19

 

Acquisition and divestiture related (b)(c)

 

 

 

(8,588

)

 

8,588

 

 

 

 

2,150

 

 

6,438

 

25.0

%

0.05

 

Purchase accounting step-up and intangible asset amortization (d)

 

1,013

 

 

(2,245

)

 

3,258

 

 

 

 

523

 

 

2,735

 

16.1

%

0.02

 

Discrete items (e)(f)(g)

 

31

 

 

(674

)

 

705

 

 

1,500

 

 

519

 

 

1,686

 

23.5

%

0.01

 

Below-the-line foreign exchange impacts (h)

 

 

 

 

 

 

 

(9,038

)

 

(1,601

)

 

(7,437

)

17.7

%

(0.06

)

Adjusted

$

397,387

 

$

239,428

 

$

160,950

 

$

(539

)

$

27,165

 

$

109,627

 

19.2

%

0.85

 

Adjusted as a percent of sales

 

37.2

%

 

22.4

%

 

15.1

%

 

-0.1

%

 

2.5

%

 

10.3

%

 

Note: Amounts may not calculate due to rounding

(a) Charges represent realignment costs incurred as a result of realignment programs, net of a $5,300 gain associated with a sale-leaseback transaction related to a FCD facility closure.

(b) Charge represents $7,791 of acquisition and integration related costs associated with the Greenray and Trillium Valves acquisitions.

(c) Charge represents $797 of costs associated with other strategic acquisition and divestiture activities.

(d) Charge represents amortization of acquisition related intangible assets associated with the MOGAS and Greenray acquisitions.

(e) Charge represents $277 of non-cash share-based compensation expense associated with a one-time discretionary restricted stock grant, subject to three-year cliff vesting, provided to certain employees in conjunction with the freeze of our US Qualified pension plan.

(f) Charge includes $1,500 for a non-cash pension settlement accounting loss incurred in conjunction with the freeze of our US Qualified pension plan.

(g) Charge represents $428 of transaction costs related to the divestiture of our asbestos-related assets and liabilities.

(h) Below-the-line foreign exchange impacts represent the remeasurement of foreign exchange derivative contracts as well as the remeasurement of assets and liabilities that are denominated in a currency other than a site’s respective functional currency.

 
 

Three Months Ended March 31, 2025

Gross Profit

Selling, General & Administrative Expense

Operating Income

Other Income (Expense), Net

Provision For (Benefit From) Income Taxes

Net Earnings (Loss)

Effective Tax Rate

Diluted EPS

Reported

$

369,334

 

$

243,177

 

$

131,889

 

$

(17,259

)

$

17,743

 

$

73,905

 

18.3

%

0.56

 

Reported as a percent of sales

 

32.3

%

 

21.2

%

 

11.5

%

 

-1.5

%

 

1.6

%

 

6.5

%

Realignment charges (a)

 

10,015

 

 

1,304

 

 

8,711

 

 

 

 

1,871

 

 

6,840

 

21.5

%

0.05

 

Acquisition related (b)

 

 

 

(1,281

)

 

1,281

 

 

 

 

301

 

 

980

 

23.5

%

0.01

 

Purchase accounting step-up and intangible asset amortization (c)

 

3,475

 

 

(1,300

)

 

4,775

 

 

 

 

1,361

 

 

3,414

 

28.5

%

0.03

 

Discrete items (d)(e)

 

33

 

 

(383

)

 

416

 

 

1,500

 

 

451

 

 

1,465

 

23.5

%

0.01

 

Below-the-line foreign exchange impacts (f)

 

 

 

 

 

 

 

11,373

 

 

2,445

 

 

8,928

 

21.5

%

0.07

 

Adjusted

$

382,857

 

$

241,517

 

$

147,072

 

$

(4,386

)

$

24,172

 

$

95,532

 

19.3

%

0.72

 

Adjusted as a percent of sales

 

33.5

%

 

21.1

%

 

12.8

%

 

-0.4

%

 

2.1

%

 

8.3

%

 

Note: Amounts may not calculate due to rounding

(a) Charges represent realignment costs incurred as a result of realignment programs of which $1,500 is non-cash.

(b) Charge represents acquisition and integration related costs associated with the MOGAS acquisition.

(c) Charge represents amortization of step-up in value of acquired inventories and acquisition related intangible assets associated with the MOGAS acquisition.

(d) Charge represents $416 of non-cash share-based compensation expense associated with a one-time discretionary restricted stock grant, subject to three-year cliff vesting, provided to certain employees in conjunction with the freeze of our US Qualified pension plan.

(e) Charge includes $1,500 for a non-cash pension settlement accounting loss incurred in conjunction with the freeze of our US Qualified pension plan.

(f) Below-the-line foreign exchange impacts represent the remeasurement of foreign exchange derivative contracts as well as the remeasurement of assets and liabilities that are denominated in a currency other than a site’s respective functional currency.

SEGMENT INFORMATION

(Unaudited)

 

FLOWSERVE PUMPS DIVISION

Three Months Ended March 31,

(Amounts in millions, except percentages)

 

2026

 

 

2025

 

Bookings

$

773.9

 

$

852.9

 

Sales

 

744.5

 

 

783.1

 

Gross profit

 

269.9

 

 

268.5

 

Gross profit margin

 

36.3

%

 

34.3

%

SG&A

 

147.2

 

 

137.7

 

Segment operating income

 

125.8

 

 

136.5

 

Segment operating income as a percentage of sales

 

16.9

%

 

17.4

%

 

FLOW CONTROL DIVISION

Three Months Ended March 31,

(Amounts in millions, except percentages)

 

2026

 

 

2025

 

Bookings

$

374.2

 

$

376.0

 

Sales

 

327.6

 

 

364.1

 

Gross profit

 

108.9

 

 

100.2

 

Gross profit margin

 

33.3

%

 

27.5

%

SG&A

 

67.2

 

 

68.7

 

Segment operating income

 

41.7

 

 

31.5

 

Segment operating income as a percentage of sales

 

12.7

%

 

8.6

%

Segment Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (Unaudited)

(Amounts in thousands)

 

Flowserve Pumps Division

 

Three Months Ended March 31, 2026

Gross Profit

Selling, General & Administrative Expense

Operating Income

Three Months Ended March 31, 2025

Gross Profit

Selling, General & Administrative Expense

Operating Income

Reported

$

269,927

 

$

147,168

 

$

125,751

 

Reported

$

268,462

 

$

137,680

 

$

136,515

 

 

Reported as a percent of sales

 

36.3

%

 

19.8

%

 

16.9

%

Reported as a percent of sales

 

34.3

%

 

17.6

%

 

17.4

%

 

Realignment charges (a)

 

10,088

 

 

(4,141

)

 

14,229

 

Realignment charges (a)

 

2,979

 

 

998

 

 

1,981

 

 

Discrete items (b)

 

24

 

 

(48

)

 

72

 

Discrete items (b)

 

28

 

 

(125

)

 

153

 

 

Acquisition related (c)

 

 

 

(39

)

 

39

 

Adjusted

$

271,469

 

$

138,553

 

$

138,649

 

 

Purchase accounting step-up and intangible asset amortization (d)

 

1,013

 

 

(945

)

 

1,958

 

Adjusted as a percent of sales

 

34.7

%

 

17.7

%

 

17.7

%

 

Adjusted

$

281,052

 

$

141,995

 

$

142,049

 

 

Adjusted as a percent of sales

 

37.7

%

 

19.1

%

 

19.1

%

 

 

Flow Control Division

 

Three Months Ended March 31, 2026

Gross Profit

Selling, General & Administrative Expense

Operating Income

Three Months Ended March 31, 2025

Gross Profit

Selling, General & Administrative Expense

Operating Income

 

Reported

$

108,947

 

$

67,231

 

$

41,716

 

Reported

$

100,187

 

$

68,705

 

$

31,482

 

 

Reported as a percent of sales

 

33.3

%

 

20.5

%

 

12.7

%

Reported as a percent of sales

 

27.5

%

 

18.9

%

 

8.6

%

 

Realignment charges (a)

 

6,414

 

 

5,021

 

 

1,393

 

Realignment charges (a)

 

7,102

 

 

121

 

 

6,981

 

 

Discrete items (b)

 

5

 

 

(55

)

 

60

 

Acquisition related (c)

 

 

 

(1,281

)

 

1,281

 

 

Acquisition related (c)

 

 

 

(7,738

)

 

7,738

 

Purchase accounting step-up and intangible asset amortization (d)

 

3,475

 

 

(1,300

)

 

4,775

 

 

Purchase accounting step-up and intangible asset amortization (d)

 

 

 

(1,300

)

 

1,300

 

Discrete items (b)

 

4

 

 

(64

)

 

68

 

 

Adjusted

$

115,366

 

$

63,159

 

$

52,207

 

Adjusted

$

110,768

 

$

66,181

 

$

44,587

 

 

Adjusted as a percent of sales

 

35.2

%

 

19.3

%

 

15.9

%

Adjusted as a percent of sales

 

30.4

%

 

18.2

%

 

12.2

%

 

 

 

Note: Amounts may not calculate due to rounding

Note: Amounts may not calculate due to rounding

 

(a) Charges represent realignment costs incurred as a result of realignment programs, net of a $5,300 gain associated with a sale-leaseback transaction related to a FCD facility closure.

(a) Charges represent realignment costs incurred as a result of realignment programs of which $1,500 is non-cash.

 

(b) Charge represents non-cash share-based compensation expense associated with a one-time discretionary restricted stock grant, subject to three-year cliff vesting, provided to certain employees in conjunction with the freeze of our US Qualified pension plan.

(b) Charge represents share-based compensation expense associated with a one-time discretionary restricted stock grant, subject to three-year cliff vesting, provided to certain employees in conjunction with the freeze of our US Qualified pension plan.

 

(c) Charge represents acquisition and integration related costs associated with the Greenray and Trillium Valves acquisitions within FPD and FCD, respectively.

(c) Charge represents acquisition and integration-related costs associated with the MOGAS acquisition.

 

(d) Charge represents amortization of acquisition related intangible assets associated with the Greenray and MOGAS acquisitions within FPD and FCD, respectively.

(d) Charge represents amortization of step-up in value of acquired inventories and acquisition related intangible assets associated with the MOGAS acquisition.

 

 

Segment Results

(Unaudited)

 

Flowserve Pumps Division

 

(dollars in millions)

Q1 2026

Q1 2025

Change

Organic Bookings

 

 

(13.6%)

Acquisition / Divestiture Impact

 

 

0.3%

FX Impact (a)

 

 

4.0%

Total Bookings (b)

$774

$853

(9.3%)

 

 

 

Organic Sales

 

 

(9.5%)

Acquisition / Divestiture Impact

 

 

0.3%

FX Impact (a)

 

 

4.3%

Reported Sales (b)

$745

$783

(4.9%)

 

 

 

Gross Margin

36.3%

34.3%

200 bps

Adjusted Gross Margin (c)

37.7%

34.7%

300 bps

Operating Margin

16.9%

17.4%

(50 bps)

Adjusted Operating Margin (d)

19.1%

17.7%

140 bps

Backlog (b)

$2,076

$2,019

2.8%

 

 

 

 

 

 

Flowserve Control Division

 

 

 

 

 

 

(dollars in millions)

Q1 2026

Q1 2025

Change

Organic Bookings

 

 

(2.9%)

Acquisition / Divestiture Impact

 

 

0.0%

FX Impact (a)

 

 

2.4%

Total Bookings (b)

$374

$376

(0.5%)

 

 

 

Organic Sales

 

 

(12.1%)

Acquisition / Divestiture Impact

 

 

0.0%

FX Impact (a)

 

 

2.1%

Reported Sales (b)

$328

$364

(10.0%)

 

 

 

Gross Margin

33.3%

27.5%

580 bps

Adjusted Gross Margin (c)

35.2%

30.4%

480 bps

Operating Margin

12.7%

8.6%

410 bps

Adjusted Operating Margin (d)

15.9%

12.2%

370 bps

Backlog (b)

$876

$889

(1.5%)

 

(a) Foreign exchange (FX) impact reflects a year-over-year change in foreign currency translation.

(b) Bookings, sales, and backlog do not include interdivision eliminations.

(c) Adjusted gross margin is a non‑GAAP financial measure. Adjusted gross margin is calculated by dividing adjusted gross profit by sales. Adjusted gross profit is derived by excluding realignment charges and other specific discrete items. See the Segment Reconciliation of Non‑GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (unaudited).

(d) Adjusted operating margin excludes realignment charges and other specific discrete items.

CONDENSED CONSOLIDATED BALANCE SHEETS

 

(Unaudited)

 

March 31,

December 31,

(Amounts in thousands, except par value)

 

2026

 

 

2025

 

 

ASSETS

 

Current assets:

 

Cash and cash equivalents

$

792,354

 

$

760,183

 

Accounts receivable, net of allowance for expected credit losses of $84,394 and $83,094, respectively

 

958,985

 

 

1,029,095

 

Contract assets, net of allowance for expected credit losses of $6,331 and $6,028, respectively

 

357,487

 

 

322,472

 

Inventories

 

809,583

 

 

789,898

 

Prepaid expenses and other

 

136,204

 

 

141,237

 

Total current assets

 

3,054,613

 

 

3,042,885

 

Property, plant and equipment, net of accumulated depreciation of $1,219,307 and $1,224,912, respectively

 

559,223

 

 

566,751

 

Operating lease right-of-use assets, net

 

165,222

 

 

166,031

 

Goodwill

 

1,381,437

 

 

1,391,988

 

Deferred taxes

 

156,422

 

 

156,250

 

Other intangible assets, net

 

194,442

 

 

198,475

 

Other assets, net of allowance of expected credit losses of $66,091 and $66,047, respectively

 

221,801

 

 

185,820

 

Total assets

$

5,733,160

 

$

5,708,200

 

 

 

LIABILITIES AND EQUITY

 

 

Current liabilities:

 

 

Accounts payable

$

520,392

 

$

554,243

 

Accrued liabilities

 

499,611

 

 

587,475

 

Contract liabilities

 

269,165

 

 

274,669

 

Debt due within one year

 

52,972

 

 

49,868

 

Operating lease liabilities

 

35,466

 

 

35,630

 

Total current liabilities

 

1,377,606

 

 

1,501,885

 

Long-term debt due after one year

 

1,662,000

 

 

1,525,210

 

Operating lease liabilities

 

139,887

 

 

149,565

 

Retirement obligations and other liabilities

 

273,415

 

 

277,216

 

Shareholders’ equity:

 

 

Preferred shares, $1.00 par value

 

 

 

 

Shares authorized – 1,000, no shares issued

 

 

Common shares, $1.25 par value

 

220,991

 

 

220,991

 

Shares authorized – 305,000

 

 

Shares issued – 176,793 and 176,793, respectively

 

 

Capital in excess of par value

 

486,518

 

 

508,890

 

Retained earnings

 

4,315,243

 

 

4,261,977

 

Treasury shares, at cost – 49,215 and 49,763 shares, respectively

 

(2,218,764

)

 

(2,231,685

)

Deferred compensation obligation

 

6,676

 

 

6,629

 

Accumulated other comprehensive loss

 

(598,359

)

 

(575,405

)

Total Flowserve Corporation shareholders’ equity

 

2,212,305

 

 

2,191,397

 

Noncontrolling interests

 

67,947

 

 

62,927

 

Total equity

 

2,280,252

 

 

2,254,324

 

Total liabilities and equity

$

5,733,160

 

$

5,708,200

 

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

 

Three Months Ended March 31,

(Amounts in thousands)

 

2026

 

 

2025

 

 

Cash flows – Operating activities:

 

Net earnings, including noncontrolling interests

$

86,369

 

$

79,457

 

Adjustments to reconcile net earnings to net cash (used) provided by operating activities:

 

 

Depreciation

 

20,329

 

 

18,831

 

Amortization of intangible and other assets

 

3,731

 

 

5,571

 

Stock-based compensation

 

10,716

 

 

8,656

 

Foreign currency, asset write downs and other non-cash adjustments

 

(14,525

)

 

(7,350

)

Change in assets and liabilities:

Accounts receivable, net

 

63,517

 

 

(50,679

)

Inventories

 

(24,604

)

 

8,804

 

Contract assets, net

 

(38,454

)

 

(9,447

)

Prepaid expenses and other assets, net

 

(8,940

)

 

6,669

 

Accounts payable

 

(32,385

)

 

(16,861

)

Contract liabilities

 

(3,722

)

 

(3,648

)

Accrued liabilities

 

(110,074

)

 

(89,467

)

Retirement obligations and other liabilities

 

5,027

 

 

(5,448

)

Net deferred taxes

 

(65

)

 

4,978

 

Net cash flows (used) by operating activities

 

(43,080

)

 

(49,934

)

Cash flows – Investing activities:

 

Capital expenditures

 

(16,899

)

 

(11,738

)

Proceeds from disposal of assets

 

9,719

 

 

462

 

Net cash flows (used) by investing activities

 

(7,180

)

 

(11,276

)

Cash flows – Financing activities:

Payments on term loan

 

(9,375

)

 

(9,375

)

Proceeds under revolving credit facility

 

150,000

 

 

 

Proceeds under other financing arrangements

 

391

 

 

150

 

Payments under other financing arrangements

 

(2,610

)

 

(101

)

Repurchases of common shares

 

 

 

(21,088

)

Payments related to tax withholding for stock-based compensation

 

(22,635

)

 

(11,063

)

Payments of dividends

 

(26,722

)

 

(27,617

)

Contingent consideration payment related to acquired business

 

 

 

(15,000

)

Other

 

(529

)

 

(138

)

Net cash flows (used) provided by financing activities

 

88,520

 

 

(84,232

)

Effect of exchange rate changes on cash and cash equivalents

 

(6,089

)

 

10,805

 

Net change in cash and cash equivalents

 

32,171

 

 

(134,637

)

Cash and cash equivalents at beginning of period

 

760,183

 

 

675,441

 

Cash and cash equivalents at end of period

$

792,354

 

$

540,804

 

About Flowserve:

Flowserve Corporation is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 50 countries, the Company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the Company’s website at www.flowserve.com.

Safe Harbor Statement: This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as, “may,” “should,” “expects,” “could,” “intends,” “plans,” “anticipates,” “estimates,” “believes,” “forecasts,” “predicts” or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.

The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: economic, political and other risks associated with our international operations, including military actions, trade embargoes, blockades or other closures of major trade lanes, epidemics or pandemics and changes to tariffs or trade agreements that could affect customer markets, particularly North African, Latin American, Asian and Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; global supply chain disruptions and the current inflationary environment could adversely affect the efficiency of our manufacturing and increase the cost of providing our products to customers; a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; if we are not able to successfully execute and realize the expected financial benefits from any restructuring and realignment initiatives, our business could be adversely affected; the substantial dependence of our sales on the success of the energy, chemical, power generation and general industries; the adverse impact of volatile raw materials prices on our products and operating margins; the impact of public health emergencies, such as outbreaks of epidemics, pandemics, and contagious diseases, on our business and operations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; potential adverse effects resulting from the implementation of new tariffs and related retaliatory actions and changes to or uncertainties related to tariffs and trade agreements; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Argentina; potential adverse consequences resulting from litigation to which we are a party; expectations regarding acquisitions and the integration of acquired businesses; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon third-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; if we are not able to maintain our competitive position by successfully developing and introducing new products and integrate new technologies, including artificial intelligence and machine learning; environmental compliance costs and liabilities; potential work stoppages and other labor matters; access to public and private sources of debt financing; our inability to protect our intellectual property in the United States, as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud; the recording of increased deferred tax asset valuation allowances in the future or the impact of tax law changes on such deferred tax assets could affect our operating results; our information technology infrastructure could be subject to service interruptions, data corruption, cyber-based attacks or network security breaches, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could impact the accuracy and timely reporting of our business and financial results; and other factors described from time to time in our filings with the Securities and Exchange Commission.

All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.

The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, management believes that non-GAAP financial measures which exclude certain non-recurring items present additional useful comparisons between current results and results in prior operating periods, providing investors with a clearer view of the underlying trends of the business. Management also uses these non-GAAP financial measures in making financial, operating, planning and compensation decisions and in evaluating the Company’s performance. Non-GAAP financial measures, which may be inconsistent with similarly captioned measures presented by other companies, should be viewed in addition to, and not as a substitute for, the Company’s reported results prepared in accordance with GAAP.

Flowserve Contacts

Investor Contacts:

Brian Ezzell, Vice President, Investor Relations, Treasurer & Corporate Finance (469) 420-3222

Olivia Webb, Director, Investor Relations (469) 420-3223

Media Contact: [email protected]

KEYWORDS: Texas United States North America

INDUSTRY KEYWORDS: Other Manufacturing Steel Other Energy Engineering Utilities Chemicals/Plastics Oil/Gas Coal Manufacturing Energy

MEDIA:

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MaxCyte to Report First Quarter 2026 Financial Results on May 12, 2026

ROCKVILLE, Md., April 29, 2026 (GLOBE NEWSWIRE) — MaxCyte, Inc., (NASDAQ: MXCT), a leading, cell-engineering focused company providing enabling platform technologies to advance the discovery, development and commercialization of next-generation cell therapeutics, today announced that it will release financial results for the first quarter 2026 after the U.S. market close on Tuesday, May 12th, 2026. Company management will host a conference call to discuss financial results at 4:30 p.m. Eastern Time.

Earnings Conference Call Details

Investors interested in listening to the conference call are required to register online. It is recommended to register at least a day in advance. A live and archived webcast of the event will be available on the “Events” section of the MaxCyte website at https://investors.maxcyte.com/.

About MaxCyte

At MaxCyte®, we are committed to building better cells together. As a leading cell-engineering company, we are driving the discovery, development and commercialization of next-generation cell therapies. Our best-in-class Flow Electroporation® technology and SeQure™ gene editing characterization assessment services enable high-performance cell engineering and rigorous evaluation of editing outcomes, supporting confidence in therapeutic development. Supported by expert scientific, technical and regulatory guidance, our platform empowers researchers from around the world to engineer diverse cell types and payloads, accelerating the development of safe and effective treatments for human health. For more than 25 years, we’ve been advancing cell engineering, shaping the future of medicine. Learn more at maxcyte.com and follow us on LinkedIn.

Investor Relations


Gilmartin Group


David Deuchler, CFA
[email protected]

Media Relations


Oak Street Communications


Kristen White
+1 415-608-6060
[email protected]