SAN DIEGO, Aug. 06, 2026 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a technology company in defense, national security, and global markets, announced today that it has been awarded a contract by the U.S. Army Combat Capabilities Development Command (DEVCOM) Command, Control, Communications, Computers, Cyber, Intelligence, Surveillance and Reconnaissance (C5ISR) Center to develop an Enhanced Seeker for the Javelin Close Combat Missile System.
Kratos will develop, build, and test a next-generation infrared seeker that addresses obsolescence in the current Javelin guidance section, improving the lethality of one of the U.S. Army’s most critical close combat weapons for the next decade. The work will be performed at Kratos’ Advanced Manufacturing Center in Birmingham, Alabama, with testing at U.S. Army Government facilities.
“Kratos has made the investments, built the credentialed team, and delivered the capabilities to win, execute, and deliver a production-ready seeker that keeps Javelin lethal for the Soldiers who depend on it,” said Michael Johns, Senior Vice President, Kratos SRE, Inc. “We are proud to support the U.S. Army in sustaining one of its most important close combat weapons, and this award is a reflection of everything Kratos stands for: affordable, mission-critical hardware, delivered.”
Kratos brings decades of missile seeker development heritage to this program and a vertically integrated manufacturing capability that positions the company to deliver production-ready hardware affordably and on schedule. The contract also directly supports the Secretary of War’s priority to strengthen the U.S. munitions industrial base.
About Kratos Defense & Security Solutions Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS) is a technology, products, system and software company addressing the defense, national security, and global markets. Kratos makes true internally funded research, development, capital and other investments, to rapidly develop, produce and field solutions that address our customers’ mission critical needs and requirements. At Kratos, affordability is a technology, and we seek to utilize proven, leading-edge approaches and technology, not unproven bleeding-edge approaches, with Kratos’ approach designed to reduce cost, schedule and risk, enabling us to be first to market with cost effective solutions. We believe that Kratos is known as an innovative disruptive change agent in the industry, a company that is an expert in designing products and systems up front for successful rapid, large quantity, low-cost future manufacturing which is a value-add competitive differentiator for our large traditional prime system integrator partners and also to our government and commercial customers. Kratos’ primary business areas include virtualized ground systems for satellites and space vehicles; jet-powered unmanned aerial drone systems; advanced vehicles and rocket systems; propulsion systems for drones, missiles, loitering munitions, supersonic systems, spacecraft, and launch systems; C5ISR and microwave electronic products for missile, radar, missile defense, space, satellite, counter-UAS, directed energy, communication, and other systems; and virtual and augmented reality training systems for the warfighter. For more information, visit www.KratosDefense.com and follow Kratos on LinkedIn and X.
Notice Regarding Forward-Looking Statements Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 29, 2025, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.
Brings healthy daily protein and superfood nutrition to nearly 500 locations with the retail debut of Vanilla Whey, now with zero grams of added sugar
EL SEGUNDO, Calif.–(BUSINESS WIRE)– BODi (NASDAQ: BODI), the proactive wellness company delivering nutrition, supplements, and proven fitness programs that help people take control of their health inside and out, today announced that Shakeology is now available at The Vitamin Shoppe locations nationwide. The Vitamin Shoppe launch reinforces BODi’s commitment to making science-backed wellness more accessible to consumers across the U.S. The retail rollout includes the core flavors of Shakeology’s 0g Added Sugar line: Chocolate Vegan, Chocolate Whey, Vanilla Vegan, and the new, reformulated Vanilla Whey, all available in a convenient 7-serving bag.
BODi expands its retail presence with Shakeology now available at The Vitamin Shoppe nationwide.
Originally launched in 2009 with over a billion servings sold, Shakeology combines high-quality protein with fiber, prebiotics and probiotics, vitamins, minerals, digestive enzymes, adaptogens, antioxidants, greens, and more than 30 superfoods to help support energy, gut health, digestion and regularity, lean muscle, bone health, as well as a healthy immune system. It also helps protect against free radicals and oxidative stress, reduce cravings, and support weight loss, as demonstrated in a clinical study published in the Journal of Nutrition.
Consumers also report meaningful benefits from making Shakeology part of their daily routine. Based on a survey of Shakeology customers*:
86% reported better digestion after one month
84% said it helped reduce junk food cravings
81% said it helped them feel full until their next meal
74% reported increased energy throughout the day
“When we announced our partnership with The Vitamin Shoppe earlier this year, our goal was to make Shakeology more accessible than ever before,” said Carl Daikeler, co-founder and CEO of BODi. “Today, consumers can walk into stores nationwide and purchase Shakeology. Combined with the introduction of Vanilla Whey with zero grams of added sugar launching in retail for the first time, this represents another important step in bringing healthy, science-backed nutrition to more people.”
To locate the nearest The Vitamin Shoppe location, visit https://locations.vitaminshoppe.com. Shakeology is also available at more than 100 Sprouts Farmers Market locations nationwide. BODi continues to expand retail distribution through its strategic partnership with KeHE Distributors, whose network reaches more than 30,000 grocery, supermarket, natural, and online retail locations.
Consumers can also shop the full Shakeology line on BODi.com, including additional flavors such as 0g Added Sugar Café Latte, Cookies & Creamy, and Tropical Strawberry, as well as 14- and 30-serving bags.
*Based on a survey of 1,550 Shakeology customers who consumed Shakeology five or more times per week and exercised three times per week. Better digestion improvement based on 859 Shakeology customers who reported issues with digestion.
About BODi and The Beachbody Company
BODi is a proactive wellness company delivering nutrition, supplements and proven fitness programs that help people take control of their health inside and out. With nearly three decades of experience, BODi, formerly Beachbody, has evolved from a leader in home fitness into a comprehensive health and fitness ecosystem designed to help people achieve their goals and lead healthier, more fulfilling lives. Anchored by science-backed nutrition solutions like Shakeology and supported by its portfolio of proven fitness and habit-building programs, including P90X and INSANITY, BODi is creating a more accessible and effective path to long-term health.
Since its inception, BODi has supported more than 30 million customers in achieving lasting results. The company continues to innovate across nutrition and digital fitness to deliver simple, proven solutions for modern lifestyles.
The Vitamin Shoppe® is an omnichannel specialty retailer and wellness lifestyle company with the mission to provide customers with the most trusted products, guidance, and services that support health and performance in every stage of life. Founded in 1977 and headquartered in Secaucus, New Jersey, The Vitamin Shoppe today is an innovation-focused destination for first-to-market brands and breakthrough products, offering a comprehensive assortment of vitamins, supplements, sports nutrition, and on-the-go functional foods and beverages. Beyond hundreds of national brands, its offering includes the proprietary brands The Vitamin Shoppe®, Vthrive The Vitamin Shoppe®, BodyTech®, BodyTech® Elite, plnt®, ProBioCare®, and True Athlete®. The Company serves customers through more than 640 stores nationwide, providing personalized support from knowledgeable Health Enthusiast associates, and online at www.vitaminshoppe.com. It operates strategic partnerships in select international markets in Asia, South America, Central America, and the Caribbean. The Vitamin Shoppe proudly supports the health and wellness of communities through longstanding partnerships with Vitamin Angels and Team Red, White & Blue.
TROY, Mich., Aug. 06, 2026 (GLOBE NEWSWIRE) — Kelly (Nasdaq: KELYA, KELYB), a leading specialty talent solutions provider, today announced results for the second quarter of 2026.
Q2 revenue of $1.0 billion, with year-over-year decline improving approximately 500 basis points (“bps”) versus the prior quarter; underlying revenue decline excluding previously disclosed discrete items improved 270 bps versus the prior quarter
Underlying revenue year-over-year performance reflects strength in the ETM and SET segments with each improved at least 300 bps versus the prior quarter, along with a 40 bps improvement for the Education segment
Q2 operating earnings of $16.1 million; $19.3 million of operating earnings on an adjusted basis
Q2 adjusted EBITDA of $31.1 million and adjusted EBITDA margin of 3.0%, improved 110 bps on a year-over-year basis versus the prior quarter resulting from stable year-over-year gross profit rate and continued SG&A discipline
Company increases its fiscal 2026 revenue outlook, now expecting a low-to-mid-single digit decline, and affirms its adjusted EBITDA margin expectation of modest year-over-year growth driven by accelerating underlying revenue growth and operating efficiencies
Chris Layden, chief executive officer, said, “In the second quarter, we measurably exceeded our guidance for both revenue and adjusted EBITDA margin driven by growing momentum from our growth and efficiency initiatives as well as constructive demand trends in parts of our portfolio. We delivered sequential improvements in each of our businesses as we continued to capitalize on organic growth drivers. Notably, Kelly’s adjusted EBITDA margin returned to 3.0% in the quarter, demonstrating our ability to generate operating leverage in pursuit of growth. Our progress strengthens our conviction in our strategy and reinforces our confidence in our expectation of further measurable improvement in our year-over-year performance as we progress through the second half of the year.”
Financial Results for the thirteen-week period ended June 28, 2026:
Revenue of $1.0 billion, a 5.8% decrease compared to the corresponding quarter of 2025. Discrete impacts associated with the previously disclosed reduced demand for U.S. federal government contractors in the SET segment and from three large commercial customers in the ETM segment totaled approximately 5.2%, resulting in an underlying revenue decline of approximately 0.6%. Underlying revenue performance includes overall growth from improved demand and new business in the ETM segment, including growth in staffing and each of the talent solutions specialties. Offsetting the growth was a measurably improved year-over-year decline within the SET segment which reflects continued year-over-year growth in the Telecom specialty and reduced declines in each of the SET specialties. SET revenue grew sequentially for the first time in over two years. Additionally, the Education segment showed an improved year-over-year decline which continues to be driven by delayed prior year contract decisions and declines in student enrollment in key markets.
Operating earnings of $16.1 million, compared to earnings of $22.2 million reported in the second quarter of 2025. Adjusted earnings1 were $19.3 million in the second quarter of 2026 and $24.6 million in the second quarter of 2025. Adjusted EBITDA1 of $31.1 million, a decrease of 15.9% versus the prior year period. Adjusted EBITDA margin of 3.0%, a decrease of 40 bps but improved 110 bps versus the prior quarter, reflects 10 bps lower gross margin partially offset by volume-related and structural expense management actions including benefits from our acquisition integration and technology modernization efforts. ETM showed year-over-year stability in its adjusted EBITDA margin while Education and SET both declined. Both ETM and SET improved their adjusted EBITDA margins measurably versus the prior quarter.
Income tax expense of $3.0 million, compared to income tax expense of $0.9 million reported in the second quarter of 2025. On an adjusted basis1, income tax expense of $3.8 million, compared to income tax expense of $2.5 million in the second quarter of 2025.
Earnings per share was $0.31 compared to earnings per share of $0.52 in the second quarter of 2025. On an adjusted basis1, earnings per share was $0.37 in the second quarter of 2026 compared to $0.54 per share in the corresponding quarter of 2025.
Financial Results for the 26-week period ended June 28, 2026:
Revenue of $2.1 billion, an 8.3% decrease compared to the corresponding period in 2025. Discrete impacts associated with the reduced demand for U.S. federal government contractors in the SET segment and from three large commercial customers in the ETM segment totaled approximately 6.3%, resulting in an underlying revenue decline of approximately 2.0%. Underlying revenue performance includes overall growth from improved demand in the ETM segment, including growth in each of the talent solutions specialties, along with growth in the Telecom specialty and improved performance in the Science and Engineering specialties within the SET segment. Offsetting this growth was continued lower demand in the other specialties within the SET segment, largely the Technology specialty, along with a decline in the Education segment driven by delayed prior year contract decisions and declines in student enrollment in key markets.
Operating earnings of $11.0 million, compared to earnings of $33.0 million reported over the same period in 2025. Adjusted earnings1 were $23.4 million in the first six months of 2026 and $46.7 million in the corresponding period of 2025. Adjusted EBITDA1 of $46.9 million, a decrease of 34.8% versus the prior year period. Adjusted EBITDA margin of 2.3%, a decrease of 90 bps, reflects near-term margin pressure in ETM, Education, and SET driven by lower gross margins and timing of revenue trends, partially offset by volume-related and structural expense management actions including benefits from our acquisition integration and technology modernization efforts.
Income tax expense of $2.2 million, compared to income tax expense of $2.7 million reported over the same period in 2025. On an adjusted basis1, income tax expense of $5.3 million, compared to income tax expense of $7.2 million in the corresponding period of 2025.
Earnings per share was $0.15, compared to earnings per share of $0.67 in the same period of 2025. On an adjusted basis1, earnings per share were $0.40 for the first six months of 2026 compared to $0.93 per share in the corresponding period of 2025.
1 Adjusted measures represent non-GAAP financial measures. Refer to our reconciliation of non-GAAP financial measures to the most closely related GAAP measure included in this document.
Financial Outlook For Fiscal 2026:
The Company’s 2026 financial outlook has improved for revenue and remains unchanged for Adjusted EBITDA margin relative to the initial view previously disclosed, assumes no material change in the macroeconomic environment in the coming quarters, and is as follows:
Third Quarter of 2026 – Expect year-over-year improvement relative to second quarter, with overall underlying revenue growth of 1% to 2%, and total revenue to be flat to a decline of 2% versus the prior year. Adjusted EBITDA margin in the low 2% range, representing 40 to 50 bps of year-over-year improvement relative to the prior year.
Outlook includes the seasonality impact of the Education business due to schools being out of session for the majority of the quarter which results in sequential revenue and profitability declines versus the second quarter.
Fourth Quarter of 2026 – Expect substantial improvement in year-over-year performance versus third quarter for both revenue and adjusted EBITDA margin resulting in mid-to-upper single digits revenue growth and approximately 200 bps of year-over-year adjusted EBITDA margin expansion resulting in adjusted EBITDA margin of approximately 4%.
Outlook includes the impact of an extra fiscal week in the fourth quarter, which benefits revenue growth by approximately 4 points in the quarter, but negatively impacts adjusted EBITDA.
Full Year 2026 – On a full year basis, expect low-to-mid single digit total revenue decline and a 10 to 20 bps year-over-year improvement in adjusted EBITDA margin.
Quarterly Cash Dividend:
Kelly also reported that on August 4, 2026, its board of directors declared a dividend of $0.075 per share. The dividend is payable on September 2, 2026 to stockholders of record as of the close of business on August 19, 2026.
In conjunction with its earnings release, Kelly has published a financial presentation and will host a live webcast of a conference call at 9 a.m. ET on August 6 to review the financial and operation results from the quarter. The presentation and a link to the live webcast will be accessible through the Company’s public website on the Investor Relations page under Events & Presentations. The webcast will be recorded, and a replay will be available within one hour of completion of the event through the same link as the live webcast.
Forward-Looking Statements:
This release contains statements that are forward looking in nature and, accordingly, are subject to risks and uncertainties. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about Kelly’s financial expectations, are forward-looking statements. Factors that could cause actual results to differ materially from those contained in this release include, but are not limited to, (i) changing market and economic conditions, (ii) disruption in the labor market and weakened demand for human capital resulting from technological advances, competitive pressures and pricing, loss of large corporate customers and government contractor requirements, (iii) the impact of laws and regulations (including federal, state and international tax laws), (iv) unexpected changes in claim trends on workers’ compensation, unemployment, disability and medical benefit plans, (v) litigation and other legal liabilities (including tax liabilities) in excess of our estimates, (vi) our ability to achieve our business’s anticipated growth strategies, (vii) our future business development, results of operations and financial condition, (viii) damage to our brands, (ix) dependence on third parties for the execution of critical functions, (x) conducting business in foreign countries, including foreign currency fluctuations, (xi) availability of temporary workers with appropriate skills required by customers, (xii) cyberattacks or other breaches of network or information technology security, and (xiii) other risks, uncertainties and factors discussed in this release and in the Company’s filings with the Securities and Exchange Commission. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. All information provided in this press release is as of the date of this press release and we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.
About Kelly®
Kelly Services, Inc. (Nasdaq: KELYA, KELYB) helps companies recruit and manage skilled workers and helps job seekers find great work. Since inventing the staffing industry in 1946, we have become experts in the many industries and local and global markets we serve. With a network of suppliers and partners around the world, we connect approximately 375,000 people with work every year. Our suite of outsourcing and consulting services and solutions ensures companies have the people they need, when and where they are needed most. Headquartered in Troy, Michigan, we empower businesses and individuals to access limitless opportunities in industries such as science, engineering, technology, education, manufacturing, retail, finance, and energy. Revenue in 2025 was $4.3 billion. Learn more at kellyservices.com.
KLYA-FIN
ANALYST & MEDIA CONTACT: Scott Thomas (248) 251-7264 [email protected]
Received U.S. Food and Drug Administration (FDA) clearance to initiate OCU410 Phase 3 trial for geographic atrophy (GA), secondary to dry age-related macular degeneration (AMD); on track to initiate Phase 3 this quarter
Granted Regenerative Medicine Advanced Therapy (RMAT) designation by FDA for OCU410, enabling eligibility for priority review and accelerated approval
Signed a binding term sheet with Roots Pharmaceutical, and its strategic partner Al-Dhow International Holding, to negotiate an exclusive license for OCU400 in retinitis pigmentosa (RP) across the Middle East and North Africa (MENA) region
Successfully completed OCU400 Process Performance Qualification (PPQ) batches, supporting Biologics License Application (BLA) and commercial launch supplies
Closed $130.0 million convertible senior notes financing, extending cash runway into 2028
Remain on track to announce top-line results for two late-stage clinical programs, OCU400 for RP and OCU410ST for Stargardt disease in 1Q 2027 and 2Q 2027, respectively
Strengthened leadership team with the appointments of Mohamed Genead, M.D., M.Sc., as Chief Medical Officer and Chris Clark as Head of Corporate Communications
MALVERN, Pa., Aug. 06, 2026 (GLOBE NEWSWIRE) — Ocugen, Inc. (“Ocugen” or the “Company”) (NASDAQ: OCGN), a pioneering biotechnology leader in gene therapies for blindness diseases, today reported second quarter 2026 financial results along with a general business update.
“The second quarter of 2026 marked a pivotal inflection point for Ocugen. We closed $130 million convertible senior notes financing, extending our cash runway into 2028, and signed a binding term sheet for exclusive license of OCU400 in retinitis pigmentosa across the Middle East and North Africa region,” said Dr. Shankar Musunuri, Chairman, Chief Executive Officer, and Co-Founder of Ocugen. “Ocugen is a leading gene therapy company, focused on vision loss diseases with significant unmet medical needs, with multiple catalysts through 2028 across three distinct retinal disease indications. As we advance toward key data milestones in the first half of 2027, we remain focused on creating long-term value for our patients and shareholders.”
Unlike traditional gene therapies that correct a single mutation, Ocugen’s modifier gene therapy platform targets master regulatory genes that control multiple gene networks of biological pathways, supporting a gene-agnostic approach applicable across a broad range of genetic mutations, as well as diseases with complex pathways such as dry AMD. This allows the Company to address large, underserved patient populations rather than narrow single-gene subsets. This platform underpins each of Ocugen’s three late-stage programs, which advanced meaningfully during the quarter.
Clinical Program Updates
OCU410 (GA)
Received FDA clearance for the Phase 3 registrational trial (ArMaDa3) for GA secondary to dry age-related macular degeneration, anchored by positive 12-month Phase 2 ArMaDa data (statistically significant 31% reduction in GA lesion growth versus control [patient population: lesion size ≥2.5 mm2 and ≤17.5 mm2], p<0.05, at the optimal dose planned for Phase 3)
Planned combined global Phase 3 trial of approximately 237 subjects powered at 95% for primary end point on track to initiate this quarter, with BLA and MAA filings targeted for 2028
Granted Regenerative Medicine Advanced Therapy RMAT designation by FDA, enabling eligibility for priority review and accelerated approval
GA affects approximately 2 to 3 million people in the U.S. and Europe
OCU410ST (Stargardt disease)
Completed enrollment and dosing of 63 subjects ahead of schedule, in less than nine months, in the pivotal Phase 2/3 GARDian3 trial evaluating OCU410ST in patients with all mutations of Stargardt disease
Topline results anticipated in the second quarter of 2027, with a BLA submission to follow mid-2027
Holds Orphan Drug and Rare Pediatric Disease Designations from the FDA and Orphan Medicinal Product Designation and Advanced Therapy Medicinal Product classification from the EMA
Stargardt disease affects approximately 100,000 patients across the U.S. and Europe, with no approved therapies globally
OCU400 (RP)
Completed enrollment in liMeliGhT (N=140), the first and largest genetic medicine registrational trial for broad RP patients, spanning more than 30 genetic mutations
FDA feedback confirmed that the path to rolling BLA submission remains tied to topline data expected in the first quarter of 2027, and the company is advancing preparation accordingly, including successfully completing Process Performance Qualification (PPQ) batches
Approximately 300,000 people in the U.S. and Europe are living with RP
Corporate Updates
Closed the offering of $130.0 million aggregate principal amount of 6.75% Convertible Senior Notes due 2034, including the full exercise of the $15.0 million over-allotment option, for net proceeds of approximately $112.5 million
Approximately $32.7 million of net proceeds was used to fully retire the Avenue Capital loan, eliminating 12.25% interest-rate debt from the Company’s capital structure
The offering extends Ocugen’s cash runway into 2028
Signed a binding term sheet with Roots Pharmaceutical to negotiate an exclusive OCU400 license in the MENA region, with up to $255 million in sales milestones and a 22% royalty on net sales, as well as moderate upfront payment to Ocugen
Ocugen appointed two new members to its leadership team
Mohamed Genead, M.D., M.Sc., was named Chief Medical Officer on June 11, 2026. Dr. Genead is an ophthalmologist and retina specialist with more than 20 years of experience in ophthalmology and gene therapy, having previously served as Co-Founder and Chief Executive Officer of Aviceda Therapeutics and in senior leadership roles at GenSight Biologics, Biogen, and Allergan
Chris Clark was named Vice President, Corporate Communications on July 16, 2026. He has more than 20 years of communications and investor relations experience in the pharmaceutical and biopharmaceutical industries, having held leadership positions at Bausch + Lomb, Idorsia Pharmaceuticals, and Pfizer, as well as communications and investor relations roles at Novo Nordisk, Bristol Myers Squibb, Endo Pharmaceuticals, and Johnson & Johnson
Second Quarter 2026 Financial Results
The Company’s cash, cash equivalents, and restricted cash totaled $100.4 million as of June 30, 2026, compared to $32.2 million as of March 31, 2026.
The Company had 339.0 million shares of common stock outstanding as of June 30, 2026.
Total operating expenses for the three months ended June 30, 2026, were $17.9 million and included research and development expenses of $10.7 million and general and administrative expenses of $7.2 million, compared to total operating expenses for the three months ended June 30, 2025, of $15.2 million that included research and development expenses of $8.4 million and general and administrative expenses of $6.8 million.
Ocugen reported a $0.07 net loss per common share for the three months ended June 30, 2026, compared to a $0.05 net loss per common share for the three months ended June 30, 2025.
Conference Call and Webcast Details Ocugen has scheduled a conference call and webcast for 8:30 a.m. ET today to discuss the financial results and recent business highlights. Ocugen’s senior management team will host the call, which will be open to all listeners. There will also be a question-and-answer session following the prepared remarks.
Ocugen has scheduled a conference call and webcast for 8:30 a.m. ET today to discuss the financial results and recent business highlights. Ocugen’s senior management team will host the call, which will be open to all listeners. There will also be a question-and-answer session following the prepared remarks.
Attendees are invited to participate on the call using the following details:
Dial-in Numbers: (800) 715-9871 for U.S. callers and (646) 307-1963 for international callers Conference ID: 2222566 Webcast: Available on the events section of the Ocugen investor site
A replay of the call and archived webcast will be available on the Ocugen investor site.
About Ocugen, Inc. Ocugen, Inc. is a pioneering biotechnology company developing gene therapies for blindness diseases. The Company’s breakthrough modifier gene therapy platform has the potential to address significant unmet medical needs across large patient populations through a gene-agnostic approach. Unlike traditional gene therapies and gene-editing technologies that target a single gene mutation, Ocugen’s modifier gene therapies are designed to address the underlying disease biology by restoring balance across multiple gene networks. The Company is currently advancing programs for inherited retinal diseases and other causes of blindness that affect millions worldwide, including retinitis pigmentosa, Stargardt disease, and geographic atrophy, an advanced form of dry age-related macular degeneration. Discover more at www.ocugen.com and follow us on LinkedIn and X.
Cautionary Note on Forward-Looking Statements This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including, but not limited to, strategy, business plans and objectives for Ocugen’s clinical programs, plans and timelines for the preclinical and clinical development of Ocugen’s product candidates, including the therapeutic potential, clinical benefits and safety thereof, expectations regarding timing, success and data announcements of current ongoing preclinical and clinical trials, including the timing of enrollment and data readouts, the ability to initiate new clinical programs, Ocugen’s financial condition and expected cash runway into 2028, statements regarding qualitative assessments of available data, potential benefits, expectations for ongoing clinical trials, anticipated regulatory filings and anticipated development timelines, statements regarding potential market size and commercial possibilities of Ocugen’s product candidates, which are subject to risks and uncertainties. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are subject to numerous important factors, risks, and uncertainties that may cause actual events or results to differ materially from our current expectations, including, but not limited to, the risks that preliminary, interim and top-line clinical trial results may not be indicative of, and may differ from, final clinical data; that unfavorable new clinical trial data may emerge in ongoing clinical trials or through further analyses of existing clinical trial data; that earlier non-clinical and clinical data and testing may not be predictive of the results or success of later clinical trials; and that clinical trial data are subject to differing interpretations and assessments, including by regulatory authorities. These and other risks and uncertainties are more fully described in our annual and periodic filings with the Securities and Exchange Commission (SEC), including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events, or otherwise, after the date of this press release.
2Q26 Net Income Attributable to GEO Operations Increased 63% to $47.5 Million
2Q26 Adjusted EBITDA Increased 20% to $142.0 Million
Repurchased approximately 1.6 million shares for $36.6 million in 2Q26
Guidance for FY26 Revenues of $2.95-$3.05 Billion
Guidance for FY26 Net Income Attributable to GEO Operations Increased to $168-$175 Million, or $1.27-$1.32 Per Diluted Share
Guidance for FY26 Adjusted EBITDA Increased to $550-$560 Million
BOCA RATON, Fla.–(BUSINESS WIRE)–Aug. 6, 2026– The GEO Group, Inc. (NYSE: GEO) (“GEO”, “we” or the “Company”), a leading provider of contracted support services for secure facilities, processing centers, and reentry centers, as well as enhanced in-custody rehabilitation, post-release support, and electronic monitoring programs, reported its financial results for the second quarter 2026, updated full year 2026 financial guidance, and provided financial guidance for the third and fourth quarters 2026.
For the second quarter 2026, we reported total revenues of $732.1 million compared to $636.2 million for the second quarter 2025, reflecting a 15 percent increase.
We reported second quarter 2026 net income attributable to GEO Operations of $47.5 million, or $0.36 per diluted share, compared to net income attributable to GEO Operations of $29.1 million, or $0.21 per diluted share, for the second quarter 2025, reflecting a 63 percent increase in net income attributable to GEO Operations.
Second quarter 2026 results reflect $1.7 million, pre-tax, in combined loss on asset divestitures/impairment, start-up expenses, transaction fees, and employee restructuring expenses. Excluding these items, we reported adjusted net income for the second quarter 2026 of $48.8 million, or $0.37 per diluted share, compared to $30.7 million, or $0.22 per diluted share, for the second quarter 2025.
We reported second quarter 2026 Adjusted EBITDA of $142.0 million, compared to $118.6 million for the second quarter 2025, reflecting a 20 percent increase.
Our second quarter 2026 results reflect revenue growth from the contracts that we entered into throughout 2025. Operating Expenses continued to be favorably impacted by lower labor costs during the second quarter of 2026.
George C. Zoley, GEO’s Chairman, Chief Executive Officer and Founder, said, “We are very pleased with our strong second quarter results and improved full year outlook. Our financial performance in the first half of 2026 has been driven by the new growth opportunities we captured in 2025 and are normalizing this year. Last year was the most successful period for new business wins in our company’s history, and we expect 2026 to continue to be very active as well. We remain focused on pursuing new growth opportunities and allocating capital to enhance long-term value for our shareholders, and we believe that our stock continues to offer a very attractive investment opportunity.”
Results for the First Six Months of 2026
For the first six months of 2026, we reported total revenues of $1.44 billion compared to $1.24 billion for the first six months of 2025, reflecting a 16 percent increase.
We reported net income attributable to GEO Operations for the first six months of 2026 of $85.8 million, or $0.65 per diluted share, compared to net income attributable to GEO Operations of $48.7 million, or $0.35 per diluted share, for the first six months of 2025, reflecting a 76 percent increase in net income attributable to GEO Operations.
Results for the first six months of 2026 reflect $2.1 million, pre-tax, in combined loss on asset divestitures/impairment, start-up expenses, transaction fees, employee restructuring expenses, and close-out expenses. Excluding these items, we reported adjusted net income for the first six months of 2026 of $87.4 million, or $0.66 per diluted share, compared to $50.3 million, or $0.36 per diluted share, for the first six months of 2025.
We reported Adjusted EBITDA for the first six months of 2026 of $273.4 million, compared to $218.4 million for the first six months of 2025, reflecting a 25 percent increase.
Operational Highlights
We entered into a five-year support services contract, effective July 9, 2026, with U.S. Immigration and Customs Enforcement (“ICE”) for the activation of a federal immigration processing center at the 1,188-bed Big Horn Facility in Hudson, Colorado, while also entering into a lease agreement with the Facility owner. The Big Horn Facility support services contract is expected to generate approximately $85 million in annual revenues in the first full year of operations.
We entered into a five-year support services contract, effective August 1, 2026, with ICE for the activation of a federal immigration processing center at our GEO-owned, 1,320-bed Rivers Facility in Winton, North Carolina. The Rivers Facility support services contract is expected to generate approximately $80 million in annual revenues in the first full year of operations.
Under both contracts, ICE will reimburse GEO for the capital expenditures needed to reactivate these two facilities, as well as provide funding for start-up expenses during the activation period. We expect the activation of the Big Horn Facility and Rivers Facility to be completed by the end of 2026, with both facilities expected to achieve normalized operations and earnings contribution in early 2027.
Financial Guidance
Today, we updated our financial guidance for the full year 2026 and issued our financial guidance for the third quarter 2026 and the fourth quarter 2026. We increased our full year 2026 Net Income Attributable to GEO Operations guidance to a range of $168 million to $175 million, or $1.27 to $1.32 per diluted share on annual revenues of $2.95 billion to $3.05 billion and based on an effective tax rate of approximately 30 percent, inclusive of known discrete items. We increased our full year 2026 Adjusted EBITDA guidance to a range of $550 million to $560 million. We expect total unreimbursed Capital Expenditures for the full year 2026 to be between $135 million and $145 million.
For the third quarter 2026, we expect Net Income Attributable to GEO Operations to be in a range of $45 million to $48 million, or $0.35 to $0.37 per diluted share, on quarterly revenues of $755 million to $805 million. We expect third quarter 2026 Adjusted EBITDA to be between $140 million and $145 million. For the fourth quarter 2026, we expect Net Income Attributable to GEO Operations to be in a range of $37 million to $41 million, or $0.28 to $0.31 per diluted share, on quarterly revenues of $758 million to $808 million. We expect fourth quarter 2026 Adjusted EBITDA to be between $137 million and $142 million.
Our updated guidance does not include any earnings contribution from our new Big Horn and Rivers ICE contracts since we expect the activation period for these facilities to be completed by the end of 2026, achieving normalized earnings contribution in early 2027. Our updated guidance also does not include any earnings contribution from our previously announced managed-only contracts for the 1,884-bed Graceville Facility and the 985-bed Bay Facility in the State of Florida. These two managed-only contracts, which are valued at approximately $100 million in combined annual revenues, are now expected to transition to GEO on July 1, 2027.
We believe there are several sources of potential upside that are not currently included in our guidance. With respect to revenues, sources of potential upside include additional growth in our U.S. Secure Services segment from the reactivation of additional idle facilities and/or higher overall populations across our active facilities; additional volume increases and/or accelerated technology and service mix shift in our Intensive Supervision Appearance Program (“ISAP”) contract; additional growth in our secure transportation services business; and additional revenue from higher utilization of our skip tracing services contract. With respect to expenses, our guidance assumes a more moderate contribution from labor cost savings for the second half of 2026.
Balance Sheet
At the end of the second quarter 2026, we had approximately $55 million in cash and cash equivalents and approximately $1.54 billion in total debt, resulting in total net debt of approximately $1.5 billion and total net leverage below 3 times Adjusted EBITDA for the trailing 12 months. At the end of the second quarter 2026, we had total available liquidity of approximately $300 million, including cash on hand and Revolver availability, to support our capital needs.
Share Repurchase Program
During the second quarter of 2026, we repurchased approximately 1.6 million shares of GEO common stock at an aggregate cost of approximately $36.6 million. As of June 30, 2026, we had repurchased approximately 10.1 million shares of GEO common stock at an aggregate cost of approximately $177 million under our $500 million share repurchase authorization, bringing our current outstanding share count to approximately 132 million and leaving approximately $323 million of repurchase authorization available under the share repurchase program.
Repurchases of GEO’s outstanding common stock will be made in accordance with applicable securities laws and may be made at our senior management’s discretion from time to time in the open market, by block purchase, through privately negotiated transactions, pursuant to a trading plan, or otherwise in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended. The authorization for the share repurchase program may be extended, increased, decreased, suspended or terminated by our Board of Directors in its discretion at any time. Repurchases of the Company’s common stock (and the timing thereof) will depend upon market conditions, regulatory requirements, the Company’s existing obligations, including its Credit Agreement, other corporate liquidity requirements and priorities and other factors as may be considered in the Company’s sole discretion. The authorization for the share repurchase program does not obligate GEO to purchase any particular amount of the Company’s common stock.
Conference Call Information
We have scheduled a conference call and webcast for today at 1:00 PM (Eastern Time) to discuss our second quarter 2026 financial results as well as our outlook. The call-in number for the U.S. is 1-877-250-1553 and the international call-in number is 1-412-542-4145. In addition, a live audio webcast of the conference call may be accessed on the Webcasts section under the News, Events and Reports tab of GEO’s investor relations webpage at investors.geogroup.com. A replay of the webcast will be available on the website for one year. A telephonic replay of the conference call will be available through August 13, 2026, at 1-855-669-9658 (U.S.) and 1-412-317-0088 (International). The participant passcode for the telephonic replay is 1433186.
About The GEO Group
The GEO Group, Inc. (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO’s diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care®, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care. GEO’s worldwide operations include the ownership and/or delivery of support services for 97 facilities totaling approximately 76,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 20,000 employees.
Record net sales of $71.3 million, increased 29% compared to the prior year reflecting strength of diversified revenue base
Gross profit increased 21% to $17.8 million; Gross profit margin was 25.0%
Net income per diluted share was $0.33; Adjusted net income per diluted share(1) was $0.49
Adjusted EBITDA (1) increased 28% to $8.8 million; Adjusted EBITDA margin(1) was 12.3%
Orders (2) were $95.9 million; Book-to-Bill (2) ratio of 1.3x and record backlog (2) of $557.2 million
Strengthened balance sheet with $27.0 million in cash and no outstanding debt following $50.0 million stock issuance and repayment of $13.0 million of debt during the quarter
Reaffirming full year fiscal 2027 guidance
BATAVIA, N.Y.–(BUSINESS WIRE)– Graham Corporation (NYSE: GHM) (“GHM” or the “Company”), a global leader in the design and manufacture of mission critical fluid, power, heat transfer, vacuum, and advanced mixing technologies for the Defense, Space, and Energy & Process industries, today reported financial results for its first quarter for the fiscal year ending March 31, 2027 (“fiscal 2027”).
Graham’s President and Chief Executive Officer, Matthew J. Malone stated, “Our first quarter results reflect continued disciplined execution and give us confidence as we look ahead to the remainder of fiscal 2027. Our revenue growth was across all of our business units, and bookings remained strong, which we believe, along with our record backlog, positions us well to achieve our long-term growth and profitability goals.”
Mr. Malone continued, “At our Investor Day in June 2026, we introduced our three-year financial framework as we enter our next phase of growth which reflects the favorable tailwinds we see across our end markets. As we execute against our strategy, we remain focused on converting these opportunities into profitable growth, expanding margins and delivering long-term value for our shareholders.”
1Adjusted net income per diluted share, Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP measures. See attached tables and other information for important disclosures regarding Graham’s use of these non-GAAP measures.
2Orders, backlog and book-to-bill ratio are key performance metrics. See “Key Performance Indicators” below for important disclosures regarding Graham’s use of these metrics.
First Quarter Fiscal 2027 Performance Review (All comparisons are with the same prior-year period unless noted otherwise.)
Net sales for the first quarter of fiscal 2027 were $71.3 million, up $15.9 million, or 29%, compared with the first quarter of fiscal 2026, reflecting the strength of our diversified revenue base, as well as the acquisition of FlackTek, which added $6.6 million to revenue during the quarter. The increase for the quarter was across multiple markets, including an $11.8 million, or 40%, increase in sales to the Defense market, primarily due to the timing of project milestones, as well as new programs and growth in existing programs. Sales to the Space market increased $2.9 million, or 86%, over the prior year first quarter, due to new programs and the ramp up of existing programs, as well as the FlackTek acquisition. Sales to the Energy & Process markets increased $1,098, or 5%, as increases in Aftermarket sales are partially offset by push outs on large capital project activity. Aftermarket sales to the Energy & Process and Defense markets of $9.7 million remained strong, increasing 20% over the first quarter of the prior year.
Gross profit for the first quarter of fiscal 2027 was $17.8 million or 25.0% of sales, compared with $14.7 million, or 26.5% of sales, in the prior-year period. The 150-basis point decline in gross profit margin reflects the mix of sales in the first quarter of fiscal 2027, and in particular, a higher level of Defense sales and material receipts, which carry a lower profit margin.
Selling, general and administrative expense (“SG&A”), including intangible amortization, for the first quarter of fiscal 2027 increased $3.2 million or 33%, over the prior year first quarter. Acquisition and integration expenses contributed $0.6 million of the increase compared to the prior year first quarter. Additionally, incremental SG&A from the acquisition of FlackTek accounted for $1.8 million of the increase. The remaining increase primarily reflects investments the Company is making in its people, processes, and technology, which we expect to be approximately $2.5 million of incremental costs for fiscal 2027, partially offset by a reduction in costs related to the Barber-Nichols Performance Bonus, which is no longer in effect in fiscal 2027. During the first quarter of fiscal 2026, the Company recorded $1.1 million related to the Barber-Nichols Performance Bonus, inclusive of applicable payroll taxes and no corresponding expense was recorded in the first quarter of fiscal 2027.
Cash Management and Balance Sheet
Cash and cash equivalents as of June 30, 2026, were $27.0 million, compared with $6.6 million in the previous quarter. During the quarter, the Company strengthened its balance sheet through a $50.0 million investment from accounts advised by T. Rowe Price, of which $13.0 million of the proceeds were used for debt repayment, with the remaining proceeds expected to fund future organic and inorganic growth opportunities.
Net cash used by operating activities was $12.7 million during the first quarter of fiscal 2027, primarily due to the timing of billing and collection of accounts receivable and unbilled revenue and customer deposits, as well as the payment of fiscal 2026 bonuses, including the Barber-Nichols Performance Bonus, during the quarter.
Capital expenditures, net for the first quarter of fiscal 2027 were $2.6 million, focused on capacity expansion, increasing capabilities, and productivity improvements.
The Company had no debt outstanding as of June 30, 2026, with $74.5 million available on its revolving credit facility after taking into account outstanding letters of credit.
Orders, Backlog, and Book-to-Bill Ratio
See supplemental data filed with the Securities and Exchange Commission on Form 8-K and provided on the Company’s website for a further breakdown of orders and backlog by market. See “Key Performance Indicators” below for important disclosures regarding Graham’s use of these metrics ($ in millions).
Orders for the first quarter of fiscal 2027 were $95.9 million, compared with $125.9 million in the prior year first quarter, which included $86.5 million of follow-on orders to support the U.S. Navy’s Virginia Class Submarine program. Order activity in the quarter continued to reflect strong demand in the Defense market, including approximately $61.8 million of new and follow-on orders to support the U.S. Navy’s Columbia and Virginia Class Submarine programs, as well as to provide mission-critical hardware for the MK48 Mod 7 Heavyweight Torpedo. Space market orders totaled $14.4 million, or 2.3x net Space sales for the quarter. Total Aftermarket orders for the Energy & Process and Defense markets increased 5% to $10.9 million and FlackTek contributed $13.2 million to orders during the quarter or 2.0x net FlackTek sales.
Note that our orders tend to be lumpy given the nature of our business (i.e. large capital projects) and in particular, orders to the Defense industry, which span multiple years and can be significantly larger in size.
Backlog at quarter end was a record $557.2 million, a 15% increase over the prior-year period, driven by strong bookings in the Defense and Space markets, and contributions from the FlackTek acquisition. For the quarter, the Company achieved a book-to-bill ratio of 1.3x, continuing momentum from a book-to-bill ratio of 1.5x in FY 2026. Approximately 35% to 40% of orders currently in backlog are expected to be converted to sales in the next twelve months, another 20% to 25% are expected to convert to sales within one to two years, and the remaining beyond two years. Approximately 84% of our backlog as of June 30, 2026, was to the Defense industry, which provides stability and visibility for future revenue.
Fiscal 2027 Outlook
Graham’s Chief Financial Officer, Christopher J. Thome, said, “Our first quarter results reflect the discipline we have applied across the business, and we enter fiscal 2027 with a stronger, more flexible balance sheet and no outstanding debt. This financial flexibility supports our ability to continue investing in both organic and inorganic growth while maintaining the operating discipline that has defined our performance.”
Mr. Thome continued, “With our first quarter results in line with our expectations, we are reaffirming our full year fiscal 2027 guidance. We remain focused on converting our record backlog into profitable growth as we execute throughout the remainder of the year.”
Webcast and Conference Call
GHM’s management will host a conference call and live webcast on August 6, 2026, at 11:00 a.m. Eastern Time (“ET”) to review its financial results as well as its strategy and outlook. The review will be accompanied by a slide presentation, which will be made available immediately prior to the conference call on GHM’s investor relations website.
A question-and-answer session will follow the formal presentation. GHM’s conference call can be accessed by calling (877) 407-0784, or (201) 689-8560 (International). Alternatively, the webcast can be monitored from the events section of GHM’s investor relations website.
A telephonic replay will be available from 3:00 p.m. ET today through Thursday, August 13, 2026. To listen to the archived call, dial (844) 512-2921 and enter conference ID number 13761669, or access the webcast replay via the Company’s website at ir.grahamcorp.com, where a transcript will also be posted once available.
About Graham Corporation
Graham is a global leader in the design and manufacture of mission critical fluid, power, heat transfer, vacuum, and advanced mixing technologies for the Defense, Space, Energy & Process industries. Graham Corporation and its family of global brands are built upon world-renowned engineering expertise, proprietary technologies, as well as its responsive and flexible service and the unsurpassed quality customers have come to expect from the Company’s products and systems. Graham Corporation routinely posts news and other important information on its website, grahamcorp.com, where additional information on Graham Corporation and its businesses can be found.
Safe Harbor Regarding Forward Looking Statements
This news release contains 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.
Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “continue,” “estimate,” “expects,” “focus,” “future,” “opportunities,” “outlook,” “believes,” “could,” “guidance,” “may”, “will,” “plan,” “strategy,” and other similar words. All statements addressing operating performance, events, or developments that Graham Corporation expects or anticipates will occur in the future, including but not limited to, profitability of future projects and the business, its ability to deliver to plan, its ability to continue to strengthen relationships with customers in the Defense industry, its ability to secure future projects and applications, expected expansion and growth opportunities, anticipated sales, revenues, adjusted EBITDA, adjusted EBITDA margins, capital expenditures and SG&A expenses, the timing of conversion of backlog to sales, orders, market presence, profit margins, tax rates, foreign sales operations, customer preferences, changes in market conditions in the industries in which it operates, changes in general economic conditions and customer behavior, forecasts regarding the timing and scope of the economic recovery in its markets, and its acquisition and growth strategy, are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Graham Corporation’s most recent Annual Report filed with the Securities and Exchange Commission (the “SEC”), included under the heading entitled “Risk Factors”, and in other reports filed with the SEC.
Should one or more of these risks or uncertainties materialize or should any of Graham Corporation’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Graham Corporation’s forward-looking statements. Except as required by law, Graham Corporation disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.
CALGARY, AB, Aug. 5, 2026 /CNW/ — InPlay Oil Corp. (TSX: IPO) (TASE: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company“) is pleased to announce that it has entered into a definitive agreement today to acquire a private oil and gas producer for cash consideration of $54.25 million, prior to closing adjustments (the “Acquisition“).
The Acquisition supports InPlay’s long-term strategy of building a disciplined and sustainable light oil focused growth company. The Acquisition builds on InPlay’s proven track record of executing highly accretive acquisitions, having successfully completed five strategic acquisitions over the past decade that have helped increase production 10x and grow total proved plus probable reserves 13.5x. The acquired assets are currently producing approximately 1,400 boe/d(1) (85% light oil and NGLs) which will increase InPlay’s production to over 20,100 boe/d(1) (62 – 63% light oil and NGLs), with light oil production expected to increase to over 10,500 bbl/d. The high oil weighting of the acquired assets further enhances InPlay’s strong netbacks, providing meaningful accretion to Adjusted Funds Flow (“AFF“)(2) and Free Adjusted Funds Flow (“FAFF“)(3) on a per share basis. The acquired assets generate strong cash flow and free cash flow which will enhance InPlay’s shareholder return strategy. InPlay is forecasted to generate FAFF of approximately $79 – $89 million for 2026 on a pro forma basis, including only four months for the acquired assets, which equates to a FAFF yield(3) of 20%. InPlay pays a dividend of $0.09 per month ($1.08 per year), which equates to a dividend yield of 7.2%. In addition, InPlay recently implemented a Normal Course Issuer Bid, pursuant to which the Company repurchased 0.5% of basic shares outstanding for cancellation during the month of June.
ACQUISITION HIGHLIGHTS
Highly Accretive Acquisition Metrics: Purchase price represents 2.0x net operating income(3) and 27% FAFF yield; per-share accretion of 18% to both AFF and FAFF on an annualized basis; 12% accretion to oil production per share, and 9% accretion to funds flow per barrel netback.
Enhanced Free Adjusted Funds Flow with Growth Potential: InPlay forecasts the acquired assets require sustaining capital of approximately $12 million to reach and maintain production of approximately 1,500 boe/d. Based on an operating netback(3) of approximately $51.75/boe(4), the acquired assets generate sustaining net operating income(3) of $28 million and FAFF of $16 million prior to accounting for synergies.
Acquired Assets are Contiguous with InPlay Assets Providing Significant Synergies: The acquired assets directly offset the Company’s existing operations and are supported by Company owned and operated facilities and infrastructure, creating meaningful operational synergies and enhancing the efficiency of future development. The Company expects to integrate the acquired assets without adding corporate office personnel. As a result of these synergies, the Acquisition is expected to generate approximately $2.5 million in annual cost savings, with the majority captured immediately post closing.
Expands InPlay’s Belly River Position: Pro forma the Acquisition, InPlay will be producing approximately 2,000 boe/d(1) from the Belly River, which at approximately 85% liquids weighting offers strong netbacks and high rate of return development opportunities.
Sustainability and Drilling Inventory: The acquired assets include 50 identified drilling locations, 75% of which are Tier 1 inventory(6) with expected payouts of less than 1.5 years at US $70/bbl WTI pricing.
“This Acquisition represents another important step in advancing InPlay’s strategy of building a disciplined, sustainable light oil company which includes strategic acquisitions” commented Doug Bartole, President and Chief Executive Officer of InPlay. “While modest in size, the Acquisition is a smart and highly accretive transaction that is expected to generate meaningful value relative to the capital invested. The acquired assets are highly complementary to our existing operations, provide meaningful operating and infrastructure synergies, and add a deep inventory of high-return drilling opportunities within our core area. The Acquisition is expected to be immediately accretive to adjusted funds flow and free adjusted funds flow per share, while maintaining conservative leverage and further enhancing our ability to generate sustainable returns for shareholders.”
ACQUISITION DETAILS
InPlay has entered into an arrangement agreement (the “Arrangement Agreement“) with a privately held arm’s length oil and gas producer (the “Vendor“), to acquire all of the issued and outstanding shares of the Vendor for cash consideration of $54.25 million, prior to closing adjustments. Concurrent with the execution of the Arrangement Agreement, certain shareholders of the Vendor, representing in excess of 72% of the Vendor shares outstanding, have entered into irrevocable written resolutions in support of the Acquisition. The Acquisition is expected to close by the end of August 2026, subject to the satisfaction or waiver of customary closing conditions.
The Acquisition will be funded by a draw on InPlay’s $190 million credit facility, with an expanded borrowing base totalling $250 million(11). Based on pro forma guidance as outlined below, InPlay anticipates Q4-2026 net debt to EBITDA(3) of 1.2x – 1.3x. The Company retains strong financial flexibility including an estimated working capital(5) surplus at June 30, 2026 of approximately $19.4 million and maintains unique access to the Israeli bond and equity markets. InPlay’s series A senior unsecured bonds (which are listed on the Tel Aviv Stock Exchange) are currently trading at a yield to maturity of approximately 6.1% and include a tap feature of approximately $115 million.
The acquired assets are currently producing approximately 1,400 boe/d with the latest well coming on stream in Q1 2026. InPlay plans to drill 2.0 net Belly River wells on the acquired assets post-closing and forecasts the acquired assets will require sustaining capital of approximately $12 million to reach and maintain annual average production of approximately 1,500 boe/d. Based on an operating netback of approximately $51.75/boe, the acquired assets generate sustaining net operating income of $28 million, resulting in sustaining FAFF of $16 million. The acquired assets contain 50 net drilling locations, and subject to supportive commodity prices, the acquired assets are expected to offer strong growth potential in excess of the target sustaining production.
The Acquisition’s purchase price represents approximately 2.0x operating income and is highly accretive to InPlay on both AFF and FAFF per share metrics while maintaining conservative corporate leverage ratios. A summary of the relevant metrics of the Acquisition is as follows:
OPERATIONS UPDATE
InPlay’s capital program for the second quarter of 2026 consisted of completing and bringing online three gross (3.0 net) Cardium wells in Pembina drilled in the first quarter of 2026, and the drilling and completion of three gross (3.0 net) additional Cardium wells also in Pembina. The most recent three wells were drilled approximately 40 days ahead of schedule, as the Company was able to access the field earlier than is normally anticipated during spring break-up. These wells were brought on production in late May and have materially exceeded internal expectations. Initial production (“IP“) rates for these three wells are as follows:
The three wells drilled in the first quarter continue to deliver strong results ahead of internal expectations. The IP rates for these wells are as follows:
InPlay’s year to date capital program has been completed below budget, resulting in strong capital efficiencies and continuing the “more with less” performance achieved in 2025. Supported by enhanced efficiencies and strong commodity prices, InPlay now plans to drill a total of 15.0 net Cardium wells in 2026, including 7.0 net Cardium wells during the second half of the year, for total capital expenditures of approximately $73 – $74 million, prior to incorporating the expanded pro forma capital program. This compares with InPlay’s original 2026 capital program of $66 million to $74 million, which contemplated the drilling of 12.0 to 14.0 net wells.
Additionally, InPlay plans to drill 2.0 net Belly River wells on the newly acquired assets, bringing the pro forma 2026 drilling program to a total of 17.0 net wells and combined capital expenditures of approximately $80 – $82 million.
In addition, InPlay plans to accelerate its asset retirement closure spend to reduce its decommissioning liability. This increase in asset retirement spending is supported by enhanced FAFF resulting from a more efficient 2026 capital program, stronger commodity prices and an expanded asset base associated with the Acquisition.
UPDATED 2026 PRO FORMA GUIDANCE
InPlay is also updating its previously announced 2026 guidance as follows:
ADVISORS
Burnet, Duckworth & Palmer LLP is acting as legal counsel to InPlay with respect to the Acquisition.
National Bank Financial Inc. (“NBF”) is acting as Exclusive Financial Advisor to the Vendor with respect to the Acquisition. NBF has provided the Vendor with a fairness opinion that the consideration to be received by the shareholders of the Vendor is fair, from a financial point of view, to the shareholders of the Vendor.
An updated corporate presentation will be available on our website in due course. For further information please contact:
Doug Bartole President and Chief Executive Officer InPlay Oil Corp. Telephone: (587) 955-0632
Kevin Leonard Vice President Corporate & Business Development InPlay Oil Corp. Telephone: (587) 955-0635
Saguenay, Québec–(Newsfile Corp. – August 5, 2026) – First Phosphate Corp. (CSE: PHOS) (OTCQX: FRSPF) (OTCQX ADR: FPHOY) (FSE: KD0) (“First Phosphate” or the “Company“) is pleased to announce that it has finalized additional agreements for a total of $4.84 million non-repayable contributions from the Government of Canada through Natural Resources Canada’s (“NRCan”) First and Last Mile Fund (“FLMF”) for the development of the Bégin-Lamarche Phosphate Deposit.
These contributions for $4.84 million comprise two components (power transmission infrastructure and road infrastructure) and build, in addition, to the $16.7M in funding already made available by NRCan in March 2026 through the Global Partnerships Initiative to support the advancement of First Phosphate’s Bégin-Lamarche deposit.
Power Transmission Line for the Sustainable Development of the Bégin-Lamarche Phosphate Deposit
First Phosphate will conduct a study to confirm the viability of clean energy infrastructure, including site selection and the identification of connection corridors, a feasibility study, and the design of a 161-kV transmission line and substations in the Saguenay-Lac-Saint-Jean region. The Project will include technical analyses, cost estimates, environmental studies, and public and Indigenous consultation. The total non-repayable contribution for this project will be approximately $3.07 million.
Road Infrastructure for the Responsible Development of the Bégin-Lamarche Phosphate Deposit
First Phosphate will carry out the preparatory work necessary for the construction of a new access road and will identify the preferred option for upgrading bypass roads to support transportation between the Bégin-Lamarche phosphate mine and regional infrastructure, including rail links and the Port of Saguenay. The Project will include pre-feasibility and feasibility studies (technical, environmental, and economic), design of the work, required environmental studies, as well as a traffic analysis and public and indigenous consultation. The total non-repayable contribution for this project will be approximately $1.77 million.
“Canada has what the world wants, and we are building the infrastructure required to get those resources to diverse markets,” said the Honourable Tim Hodgson, Minister of Energy and Natural Resources. “Investments like these help unlock our full potential by connecting projects to the infrastructure they need to move forward – creating jobs, strengthening supply chains and delivering lasting prosperity for Quebec and Canada.”
“Canada and Quebec have an opportunity to become a reliable supplier of the critical minerals the world needs for the technologies and industries of the future,” said Claude Guay, Parliamentary Secretary to the Minister of Energy and Natural Resources. “We are supporting critical minerals projects in Saguenay-Lac-Saint-Jean and beyond to strengthen Canadian supply chains, create economic opportunities, and build Canada Strong.”
“This support from the Government of Canada for First Phosphate sends a strong message to our investors and partners in Quebec, Canada, and internationally,” said Armand MacKenzie, President of First Phosphate. “It reinforces confidence in our ability to carry out this strategic mining project and deliver our high-purity igneous phosphate to the market on schedule.”
These projects will support the production of critical minerals in the Saguenay-Lac-Saint-Jean region of Quebec and address gaps in clean energy and transportation infrastructure that limit the production and expansion of critical minerals in the Saguenay-Lac-Saint-Jean region of Quebec. The financial contribution covers eligible activities planned through 2030, in accordance with the terms of the agreement.
Qualified Person
The scientific and technical disclosure for First Phosphate included in this news release has been reviewed and approved by Steeve Lavoie, P.Geo. Mr. Lavoie is Chief Geologist of First Phosphate and a Qualified Person under National Instrument 43-101 – Standards of Disclosure of Mineral Projects (“NI 43-101”).
About Natural Resources Canada
Natural Resources Canada (“NRCan”) is the federal department responsible for developing policies and programs to ensure the sustainable and responsible development of Canada’s natural resources. Through its initiatives and funding programs, including the First and Last Mile Fund, NRCan supports projects that contribute to stronger supply chains, industrial innovation, and Canada’s competitiveness in the energy, mining and forest products sectors.
About First Phosphate Corp
First Phosphate (CSE: PHOS) (OTCQX: FRSPF) (OTCQX ADR: FPHOY) (FSE: KD0) is a mineral exploration and development and clean technology company dedicated to building and reshoring a vertically integrated mine-to-market supply chain for the production of LFP batteries in North America. Target markets include energy storage, data centers, robotics, mobility, and national security.
First Phosphate’s flagship Bégin-Lamarche property, located in Saguenay-Lac-Saint-Jean, Québec, Canada, represents a rare North American igneous phosphate resource producing high-purity phosphate characterized by very low levels of impurities.
Forward-Looking Information and Cautionary Statements
This release includes certain statements that may be deemed “forward-looking information”. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In particular, this press release contains forward-looking information relating to, among other things: completion and results of studies preparatory work, and the future production of critical minerals and the benefits arising therefrom.
Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, development and exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions that engineering and construction timetables and capital costs for the Company’s, exploration, development and expansion projects are correctly estimated and not affected by unforeseen circumstances; the ability to obtain financing for its proposed operations on acceptable terms; no material deterioration in general business and economic conditions; no material delays in obtaining permits and other approvals; no significant disruptions affecting the activities of the Company or its ability to access required project equipment and services, and operating supplies in sufficient quantities and on a timely basis; inflation and prices for Company project inputs being approximately consistent with anticipated levels; the ability to complete the exploration and development programs consistent with the Company’s expectations; commodity price expectations including assumptions for P2O5; the Company’s relationship with local municipalities and First Nations remaining consistent with the Company’s expectations; the Company’s relationship with other third-party partners and suppliers remaining consistent with the Company’s expectations; and government relations and actions being consistent with Company expectations. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. The Company does not assume any obligation to update or revise its forward-looking statements, whether because of new information, future events or otherwise, except as required by applicable law. All forward-looking information contained in this release is qualified by these cautionary statements.
Follows Sales of Two Detention Facilities in California
BRENTWOOD, Tenn., Aug. 05, 2026 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (CoreCivic or the Company) announced today that it has completed the sales of its 1,600-bed Prairie Correctional Facility in Appleton, Minnesota and its 1,033-bed Midwest Regional Reception Center in Leavenworth, Kansas to the United States of America and its assigns, by and through the Department of Homeland Security for an aggregate gross sales price of $734.0 million, including $495.6 million for the Prairie Correctional Facility and $238.4 million for the Midwest Regional Reception Center. These purpose-built facilities were specifically designed to care for individuals in a secure environment. After federal and state income taxes of approximately $182.2 million and transaction costs, the Company anticipates its net proceeds from these asset sales to be approximately $522.5 million. The Company currently expects to use the net proceeds for general corporate purposes, which may include debt reduction and the repurchase of the Company’s common stock.
The Company currently expects to continue to operate the Prairie Correctional Facility and Midwest Regional Reception Center under the existing management contracts with Immigration & Customs Enforcement (ICE), although the terms of the management contracts may be modified to reflect the change in ownership. However, the Company can provide no assurance that it will continue to manage these facilities in the future, or that the terms of the existing management agreements will remain the same. As has always been the case, ICE has the ability to terminate the management contracts for non-appropriation of funds or for convenience. The management contracts for the Prairie Correctional Facility and Midwest Regional Reception Center expire in August 2031 and September 2027, respectively. Following the sale of these facilities, the Company will own or control via a long-term lease 61 correctional, detention, and reentry facilities with a total design capacity of approximately 67,000 beds and manage an additional eight facilities it does not own with a total design capacity of 13,000 beds.
Patrick Swindle, CoreCivic’s President and Chief Executive Officer, commented, “We are further demonstrating the value of the Company’s underlying real estate portfolio through the sales of our Prairie Correctional Facility and Midwest Regional Reception Center, following our sales of two detention centers in California last month. We remain committed to growing the Company’s businesses and returning value to our shareholders, while remaining a dependable and flexible partner for government.”
In addition to the recently completed facility sales, the Company has recently begun discussions with ICE about the potential acquisition of additional detention facilities from the Company. These discussions are in preliminary stages, and the Company can provide no assurance that any additional sales will occur.
About CoreCivic
CoreCivic is a diversified, government-solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. CoreCivic provides a broad range of solutions to government partners that help build safer, healthier, and more productive communities one person at a time through residential corrections, detention, and reentry management, complementary service offerings to the corrections industry that include pharmaceutical, transportation, and alternatives to incarceration, and government real estate solutions. CoreCivic is the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and one of the largest operators of such facilities in the United States. CoreCivic has been a flexible and dependable partner for government for more than 40 years. CoreCivic’s employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good. Learn more at www.corecivic.com.
Forward-Looking Statements
This press release contains statements as to our beliefs and expectations of the outcome of future events that are “forward-looking” statements as defined within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. These include, but are not limited to, the risks and uncertainties associated with: (i) changes in government policy, legislation and regulations that affect utilization of the private sector for corrections, detention, and residential reentry services, in general, or our business, in particular, including, but not limited to, the continued utilization of our correctional and detention facilities by the federal government as a consequence of presidential executive orders, changes in how the federal government, including ICE, elects to use our detention capacity or otherwise procures alternative detention capacity, and the impact of any changes to immigration reform and sentencing laws (we do not, under longstanding policy, lobby for or against policies or legislation that would determine the basis for, or duration of, an individual’s incarceration or detention); (ii) our ability to obtain and maintain correctional, detention, and residential reentry facility management contracts because of reasons including, but not limited to, sufficient governmental appropriations, contract compliance, negative publicity and effects of inmate disturbances; (iii) changes in the privatization of the corrections and detention industry, the acceptance of our services, the timing of the opening of new facilities and the commencement of new management contracts (including the extent and pace at which new contracts are utilized), as well as our ability to utilize available beds; (iv) our ability to successfully activate idle facilities in a timely manner in order to meet the growth in demand for our facilities and services from the federal government that has occurred as a result of changes in policies and actions of the current presidential administration, and to realize projected returns resulting therefrom; (v) general economic and market conditions, including, but not limited to, the impact governmental budgets can have on our contract renewals and renegotiations, per diem rates, and occupancy; (vi) fluctuations in our operating results because of, among other things, changes in occupancy levels; competition; contract renegotiations or terminations including as a result of a change in facility ownership; inflation and other increases in costs of operations, including a rise in labor costs; fluctuations in interest rates and risks of operations; (vii) government budget uncertainty, the impact of debt ceilings and government shutdowns, including partial shutdowns, and changing budget priorities; (viii) our ability to successfully identify and consummate future development and acquisition opportunities, integrate their operations, and realize projected returns resulting therefrom; (ix) the availability of debt and equity financing on terms that are favorable to us, or at all; (x) our ability to successfully consummate the sales of additional company-owned assets, including the potential sale of additional facilities to ICE, on a timely basis and on commercially favorable terms; and (xi) the intended use of proceeds from the facility sales described in this press release. Other factors that could cause operating and financial results to differ are described in the filings we make from time to time with the Securities and Exchange Commission.
We take no responsibility for updating the information contained in this press release following the date hereof to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events or for any changes or modifications made to this press release or the information contained herein by any third-parties, including, but not limited to, any wire or internet services, except as may be required by law.
Contact:
Investors: Jeb Bachmann – Managing Director, Investor Relations – (615) 263-3024 Media – Steve Owen – Vice President, Communications – (615) 263-3107
RESTON, Va., Aug. 5, 2026 /PRNewswire/ — V2X, Inc. (NYSE: VVX) has been awarded an $87 million firm-fixed-price, indefinite-delivery/indefinite-quantity contract to enhance the performance, longevity, and mission readiness of SUU-79 pylons supporting F/A-18 Super Hornet and EA-18G Growler aircraft operated by the United States Navy.
The SUU-79 pylons are critical sub-systems mounted beneath the aircraft wing, enabling the carriage and deployment of weapons, missiles, and other mission-essential stores. These components play a vital role in ensuring full mission lethality and operational effectiveness across a range of combat and support missions. V2X has supported sustainment of these Navy aircraft’s systems, including pylons, since the first F/A-18 aircraft entered into service in the 1980s.
Through this contract, V2X will sustain and modernize mission-critical capabilities by overhauling this key aircraft component for frontline naval aviation operations. By applying advanced repair techniques and lifecycle sustainment expertise, V2X helps extend the operational relevance of these platforms to ensure continued alignment with evolving mission requirements.
“This award reflects our continued commitment to delivering mission-critical sustainment solutions that ensure operational readiness for our naval forces,” said Jeremy C. Wensginer, President and Chief Executive Officer at V2X. “These pylons are actively supporting missions today, and our work ensures they remain ready, reliable, and capable of enabling full-spectrum combat operations whenever and wherever they are needed. This is yet another example of supporting the modernization of critical aviation systems.”
Under the contract, all work will be performed in Indianapolis, Indiana, with completion expected by January 2030.
About V2X V2X builds innovative solutions that integrate physical and digital environments by aligning people, actions, and technology. V2X is embedded in all elements of a critical mission’s lifecycle to enhance readiness, optimize resource management, and boost security. The company provides innovation spanning national security, defense, civilian, and international markets. With a global team of approximately 16,000 professionals, V2X enables mission success by injecting right technologies including AI and machine learning capabilities to meet today’s toughest challenges across all operational domains and maintain relevancy for the evolving mission parameters.
Investor Contact Mike Smith, CFA Vice President, Treasury, Corporate Development and Investor Relations [email protected] 719-637-5773
Media Contact Angelica Spanos Deoudes Senior Director, Marketing and Communications [email protected] 571-338-5195
NEW YORK and NETANYA, Israel, Aug. 04, 2026 (GLOBE NEWSWIRE) — T3 Defense Inc. (Nasdaq: DFNS) (“T3 Defense” or the “Company”), a defense technology holding company, today announced that its wholly owned subsidiary Tiltan Software Engineering Ltd. (“Tiltan”) has received an initial purchase order from a leading Israeli defense contractor to deliver a Proof of Concept (PoC) for a Hardware-in-the-Loop (“HWIL”) simulation of a next-generation infrared electro-optical system.
The purchase order represents the first phase of a program that may expand into a contract valued at up to $2.0 million, as the customer and its subsidiaries progress from concept validation to full-scale development and qualification.
Under the agreement, Tiltan will use its proprietary T-Verse platform to simulate the customer’s next-generation infrared electro-optical system. By leveraging advanced HWIL capabilities, the platform recreates realistic operational environments in a laboratory setting, enabling faster development cycles, improved engineering efficiency, and more effective testing of complex scenarios that are difficult to replicate in the field. The solution also integrates artificial intelligence to help address increasingly complex battlefield requirements.
“This engagement reflects the type of high-value, scalable opportunity we are targeting across our portfolio,” said Menny Shalom, CEO of T3 Defense. “A leading defense prime selecting Tiltan for next-generation electro-optical simulation underscores the strength of our technology platform and highlights the potential for multi-phase, recurring programs that can drive meaningful growth.”
“This award reinforces the growing recognition of Tiltan’s capabilities among Israel’s most advanced defense manufacturers,” said Ehud Shafir, CEO of Tiltan Software Engineering Ltd. “Securing this initial phase positions us to expand into a broader, multi-phase engagement as the program progresses across the customer’s organization.”
This engagement supports T3 Defense’s strategy of deepening relationships with premier defense contractors and expanding recurring, higher-value simulation and engineering programs within Israel’s defense ecosystem.
About Tiltan Software Engineering Ltd. Tiltan Software Engineering Ltd., a subsidiary of T3 Defense, is a leading solution provider specializing in Simulation, 3D Engines, Generative AI Training, Geo-Systems, 3D Content, and Operations Center Systems and Tools. With over 30 years of experience, Tiltan’s simulation products provide a one-stop-shop solution for training, development, and hardware-in-the-loop systems, powered by a proprietary 3D engine and Generative AI.
Tiltan’s Geo-System products support space, aerial, manned, and unmanned vehicles, addressing registration, localization, and navigation challenges, as well as geo-mapping systems. Tiltan’s in-house content production delivers high-fidelity, geo-specific visual databases, 3D models, and mapping data for VIS, IR, LiDAR, and SAR applications.
About T3 Defense T3 Defense Inc. (Nasdaq: DFNS) is a defense company that acquires and operates mission-critical defense businesses embedded in long-cycle national security programs. The company targets businesses operating at constrained, qualification-driven, or execution-critical points across the industrial base where strategic value exists and where qualification, capacity, and execution are decisive. Through disciplined M&A, centralized capital and strategy, and decentralized operating autonomy, T3 Defense seeks to strengthen critical defense capabilities and compound long-term value. For more information, visit www.t3dfns.com.
Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding ITS’s engineering and manufacturing capabilities, the expected performance of the production line delivered to the client, and the Company’s growth strategy. These statements involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied. T3 Defense Inc. undertakes no obligation to update or revise any forward-looking statements to reflect events or circumstances after the date of this press release, except as required by applicable law.
Total net sales of $147.8 million, up from $144.0 million in prior year second quarter
Net income of $1.2 million, including a non-cash tradename impairment charge, $2 million after tax, versus $1.6 million in prior year second quarter
Adjusted EBITDA of $7.7 million, up from $6.1 million in prior year second quarter
Confirms full-year Outlook
Board of Directors approves $0.14 per share quarterly dividend
ST. PETERSBURG, Fla., Aug. 04, 2026 (GLOBE NEWSWIRE) — Superior Group of Companies, Inc. (NASDAQ: SGC) (the “Company”), today announced its second quarter 2026 results.
“We’ve demonstrated the earnings power of our diversified business with Branded Products performing especially well this quarter, resulting in an adjusted EPS that was more than double the prior year’s second quarter. We are navigating through soft market conditions, and we see growth opportunities ahead for all three of our attractive businesses,” said Michael Benstock, Chief Executive Officer. “Our guidance continues to reflect stronger results in the back half of the year given seasonal factors. Ultimately, our diverse end markets, high customer retention and flexible supply chain combined with our healthy balance sheet allows us to drive continued growth and optimize shareholder value including through our attractive dividend yield and opportunistic share repurchases.”
Second Quarter Results
For the second quarter ended June 30, 2026, net sales were $147.8 million, up from second quarter 2025 net sales of $144.0 million. Net income was $1.2 million or $0.08 per diluted share compared to net income of $1.6 million or $0.10 per diluted share for the second quarter of 2025.
During the second quarter the Company recorded a trade name impairment charge in the Healthcare Apparel segment of $2.6 million (or $2.0 million net of tax, or $0.13 per diluted share). The charge does not affect the Company’s cash position, cash flow from operating activities or bank debt covenants.
On an adjusted basis, excluding the impairment charge, second quarter net income was $3.2 million or $0.21 per diluted share up from net income of $1.6 million, or $0.10 per diluted share for the second quarter of 2025. At the conclusion of this press release is a reconciliation of reported-to-adjusted results, including a description of the significant item.
Quarterly Dividend
The Board of Directors declared a quarterly dividend of $0.14 per share, payable August 28, 2026 to shareholders of record as of August 14, 2026.
2026 Full-Year Outlook
The Company continues to forecast full-year 2026 net sales in the range of $572.0 million to $585.0 million, up from 2025 net sales of $566.2 million, and full-year adjusted earnings per diluted share in the range of $0.54 to $0.66, up from $0.46 in 2025.
Webcast and Conference Call
The Company will host a webcast and conference call at 8:00am Eastern Time today. The live webcast and archived replay can be accessed in the investor relations section of the Company’s website at https://ir.superiorgroupofcompanies.com/Presentations. Interested individuals may also join the teleconference by dialing 1-844-861-5505 for U.S. dialers and 1-412-317-6586 for international dialers. The Canadian toll-free number is 1-866-605-3852. Please ask to be joined to the Superior Group of Companies call. A telephone replay of the teleconference will be available through August 18, 2026. To access the replay, dial 1-855-669-9658 in the United States or Canada, or 1-412-317-0088 from international locations. Please reference conference number 5851649 for replay access.
Disclosure Regarding Forward-Looking Statements
Certain matters discussed in this press releaseare “forward-looking statements“ intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified by use of the words “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “project,” “potential,“ or “plan“ or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements in this press release include 2026 guidance of net sales and earnings per diluted share and may also include, without limitation:(1)projections of revenue, income, and other items relating to our financial position and results of operations, including short term and long term plans for cash,(2) statements of our plans, objectives, strategies, goals and intentions, (3) statements regarding the capabilities, capacities, market position and expected development of our business operations and (4) statements of expected industry and general economic trends.
Such forward-looking statements are subject to certain risks and uncertainties that may materially adversely affect the anticipated results. Such risks and uncertainties include, but are not limited to, the following: the impact of competition;the impact of global conflicts, such asthe Russia-Ukraine War and the joint U.S.-Israeli War withIran in 2026, uncertainties related to tariffs, duties, trade wars and related matters, supply disruptions, inflationary environments (including with respect to shipping costs and the cost of finished goods and raw materials and shipping costs), employment levels (including labor shortages), and general economic and political conditions in the areas of the world in which the Company operates or from which it sources its supplies or the areas of the United States of America (“U.S.“ or “United States“) in which the Company‘s customers are located;changes in the healthcare,retail chain,food service, transportation and other industrieswhere uniforms and service apparel are worn; our ability to identify suitable acquisition targets, discover liabilities associated with such businesses during the diligence process, successfully integrate any acquired businesses, or successfully manage our expanding operations; the price and availability of raw materials; attracting and retaining senior management and key personnel; the Company’s ability to maintain effective internal control over financial reporting;and other factors described in the Company‘s filings with the Securities and Exchange Commission (“SEC”), including those risks described in Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2025entitled “Risk Factors” and the Quarterly Report on Form 10-Q for the quarter ended June 30, 2026. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements made herein and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press releaseand we disclaim any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances, except as may be required by law.
About Superior Group of Companies, Inc. (SGC):
Established in 1920, Superior Group of Companies is comprised of three attractive business segments each serving large, fragmented and growing addressable markets. Across Healthcare Apparel, Branded Products and Contact Centers, each segment enables businesses to create extraordinary brand engagement experiences for their customers and employees. SGC’s commitment to service, quality, advanced technology, and omnichannel commerce provides unparalleled competitive advantages. We are committed to enhancing shareholder value by continuing to pursue a combination of organic growth and strategic acquisitions. For more information, visit www.superiorgroupofcompanies.com.
RESTON, Va., Aug. 4, 2026 /PRNewswire/ — V2X Inc. (NYSE: VVX) has been awarded an indefinite-delivery/indefinite-quantity contract, with a $500 million ceiling value, by the U.S. Air Force to continue providing Contractor Logistics Support for the Air Force’s C-12 aircraft fleet.
The C-12 Huron provides time-sensitive transportation of personnel and cargo, medical evacuation, and flight test support for organizations including Air Force Materiel Command, the Defense Intelligence Agency, the Defense Security Cooperation Agency and Pacific Air Forces. Under the contract, V2X will continue delivering comprehensive maintenance, supply chain, engineering and logistics support for the globally deployed fleet through June 2031.
The award builds on V2X’s long-standing partnership with the U.S. Air Force, reflecting the company’s proven ability to deliver exceptional aircraft availability and mission readiness. Throughout the current program, V2X has consistently achieved mission capability rates exceeding 95 percent while earning exceptional Contractor Performance Assessment Reporting System ratings for quality, schedule and mission execution.
“Our customers depend on these aircraft to execute missions around the world, often on short notice and in demanding environments,” said Vinny Caputo, Senior Vice President of Aerospace Systems at V2X. “This award reflects the confidence the U.S. Air Force places in our people and our proven ability to deliver sustained aircraft readiness. We are proud to continue supporting this important fleet with the operational excellence, technical expertise and mission focus our customers expect.”
V2X’s integrated sustainment approach combines maintenance, supply chain management, engineering, logistics and program management to maximize aircraft availability while improving operational efficiency. The company’s performance on the current program has enabled the Air Force to maintain exceptional fleet readiness while integrating new capabilities that improve mission effectiveness.
Work under the firm-fixed-priced contract will be performed at multiple locations across the United States and internationally, supporting Air Force operations and Foreign Military Sales partners across North America, South America, Europe, Africa, the Middle East and the Pacific.
About V2X V2X builds innovative solutions that integrate physical and digital environments by aligning people, actions, and technology. V2X is embedded in all elements of a critical mission’s lifecycle to enhance readiness, optimize resource management, and boost security. The company provides innovation spanning national security, defense, civilian, and international markets. With a global team of approximately 16,000 professionals, V2X enables mission success by injecting AI and machine learning capabilities to meet today’s toughest challenges across all operational domains.
Investor Contact Mike Smith, CFA Vice President, Treasury, Corporate Development and Investor Relations [email protected] 719-637-5773
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