Category: Consumer

ONE Group Hospitality (STKS) – Fourth Quarter In-line with Pre-announced Results

Posted on by [email protected]


Monday, March 16, 2026

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Overview. Fourth quarter and full year 2025 results came in-line with management’s January 12, 2026 pre-announcement, with fourth quarter revenue of $207 million and full year revenue of $806 million. Notably, all brands demonstrated a sequential improvement in comparable sales during the quarter. Fourth quarter consolidated comparable sales declined approximately 1.8%, representing about 4 points of sequential improvement from the third quarter. And this momentum has continued in the new year.

4Q25 Results. For the fourth quarter, total GAAP revenue was approximately $207 million compared to $222 million in the prior year quarter. Adjusted EBITDA was $28.1 million compared to $31 million in the prior year quarter, a decrease of 9.5%. ONE Group reported a net loss, before preferred stock dividends, of $6.4 million compared to net income of $1.6 million in 4Q24.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – The ONE Group Reports Fourth Quarter and Full Year 2025 Financial Results

Posted on by [email protected]

Research News and Market Data on STKS

 Download as PDF

March 13, 2026

Related Documents

 Audio

Earnings Webcast

Strategic Portfolio Optimization Creating Long-Term Value

Cost Management Drives Restaurant Margin Improvement in Fourth Quarter

Full Year 2026 Financial Targets Introduced

DENVER–(BUSINESS WIRE)– The ONE Group Hospitality, Inc. (“The ONE Group” or the “Company”) (Nasdaq: STKS) today reported its financial results for the fourth quarter and full year ended December 28, 2025.

Effective January 1, 2025, the Company adopted a new fiscal calendar structure using four 13-week quarters, with a 53rd week added when necessary. The 2025 fiscal year ran from January 1, 2025, to December 28, 2025.

This fiscal calendar change created timing differences that impacted quarterly comparisons: the fourth quarter of 2025 had 91 days versus 92 days in the fourth quarter of 2024. Additionally, the New Year’s Eve holiday shifted from fiscal 2025 to fiscal 2026. The exclusion of New Year’s Eve in the current year impacted total GAAP revenues by approximately 2.5%, representing 37% of the total GAAP revenue decline for the quarter.

Highlights for the fourth quarter 2025 compared to the same quarter in 2024 are as follows:

  • Total GAAP revenues decreased 6.7% to $207 million from $222 million;
  • Consolidated comparable sales*decreased 1.8%;
  • GAAP net loss attributable to The ONE Group Hospitality, Inc. increased to $6 million from a net income of $2 million primarily related to a non-cash loss on impairment of $7 million related to the Grill optimization strategy;
  • Restaurant Operating Profit**increased by 10 basis points to 19.5% of owned restaurant net revenue, excluding Grill Concepts restaurants closed or to be closed, from 19.4%; and,
  • Adjusted EBITDA*** attributable to The ONE Group Hospitality, Inc. decreased to $28 million from $31 million, with approximately $3 million of the decrease attributable to the New Year’s Eve holiday shift from fiscal 2025 to fiscal 2026.

Highlights for the full year 2025 compared to the full year 2024 are as follows:

  • Total GAAP revenues increased 19.7% to $806 million from $673 million;
  • Consolidated comparable sales*decreased 3.7%;
  • GAAP net loss attributable to The ONE Group Hospitality, Inc. increased to $92 million from a net loss of $17 million due primarily to an increase in the income tax expenses of $69 million, primarily related to the establishment of a non-cash tax valuation allowance, and non-cash lease termination and exits costs of $7 million coupled with a non-cash impairment of $11 million related to the Grill optimization strategy;
  • Adjusted Operating Income**** increased 15.2% to $38 million from $33 million; and,
  • Adjusted EBITDA*** attributable to The ONE Group Hospitality, Inc. increased 16.3% to $89 million, excluding approximately $4 million attributable to two days in fiscal year 2025 versus fiscal year 2024, from $76 million.

“Guests continue to choose our differentiated Vibe Dining concepts when they want memorable experiences. In the fourth quarter, consolidated comparable sales improved by four percentage points sequentially from the third quarter, with every brand contributing. So far in the first quarter, we are delivering positive consolidated comparable sales. These results confirm that our strategy is working, even in a challenging consumer environment,” said Emanuel “Manny” Hilario, President and CEO of The ONE Group.

“Our disciplined cost management initiatives continue to drive results. In the fourth quarter, we expanded our restaurant operating margins, even while facing sales deleveraging. Looking ahead, our operational foundation remains strong, supported by beef supply and pricing secured through September 2026 and significant cost synergies from the Benihana acquisition that we believe we have yet to fully capture,” Hilario continued.

“In 2025, we took decisive action to optimize our portfolio and position the company for sustained long-term growth. We closed six underperforming Grill locations and identified up to five additional units for conversion to our higher-performing Benihana or STK formats through 2026. Our first RA Sushi to STK conversion in Scottsdale, Arizona has exceeded expectations, operating at a run rate of approximately $7 million in annualized sales on an approximate $1 million capital investment. This validates the strength of this repositioning strategy. Additionally, we advanced our asset-light growth strategy by securing development rights for ten Benihana and Benihana Express locations in the San Francisco Bay Area, representing the largest franchise agreement in our Company’s history. We have also secured a commitment for an additional franchised Benihana location and a licensed Benihana Express location in the Florida Keys,” Hilario concluded.

Strategic Portfolio Optimization

Grill Concepts Rationalization:

  • Closed six underperforming Grill locations in 2025 and one in 2026;
  • Identified up to five additional Grill units for conversion to Benihana or STK formats through 2026;
  • Conversion economics: approximately $1.0 to $1.5 million per conversion with a one-year payback; and
  • Expected outcome: 100% profitable Grill portfolio with enhanced margins.

Capital Efficiency Focus:

  • Prioritizing asset-light and conversion-driven growth;
  • Targeting new company-owned openings averaging $1.5 million or less in build-out costs;
  • Significant reduction in discretionary capital expenditures to strengthen balance sheet; and
  • Advancing existing pipeline of approximately 12 signed leases with limited new signings.

2025 Restaurant Development

RestaurantLocationOpening Date
Owned BenihanaSan Mateo, CaliforniaMarch 2025
Owned STKTopanga, CaliforniaApril 2025
Owned STK (relocation)Los Angeles, CaliforniaMay 2025
Franchised Benihana ExpressMiami, FloridaJune 2025
Owned STK (RA Sushi conversion)Scottsdale, ArizonaOctober 2025
Sports Arena BenihanaUBS Arena in Elmont, New YorkDecember 2025
Owned STKOak Brook, IllinoisDecember 2025

2026 Restaurant Development and Pipeline

Quarter-to-date Activity:

  • January 2026: Opened Company-owned Kona Grill in San Antonio, Texas (relocation)
  • February 2026: Converted franchised Benihana to owned in Monterey, California

Currently Under Construction (4 locations):

  • Owned STK in Phoenix, Arizona
  • Owned STK in New York, New York (relocation of an existing STK restaurant)
  • Owned Benihana in San Jose, California
  • Owned Benihana in Seattle, Washington

Asset-Light Expansion Highlights:

  • Ten-restaurant franchise development agreement for Benihana/Benihana Express in Greater San Francisco Bay Area, California
  • Accelerates West Coast expansion while maintaining capital discipline
  • Two-restaurant commitment for a franchised Benihana and a licensed Benihana Express in the Florida Keys
  • Partnership with experienced operator ensures quality execution

Liquidity

As of December 28, 2025, the Company held $24 million in cash and short-term credit card receivables and had $27 million available under our revolving credit facility, or a total of $51 million in short term liquidity. Under the current conditions, the Company’s credit facility does not have any financial covenants.

2026 Financial Targets

The Company is introducing the following financial targets, reflecting the benefits of portfolio optimization, operational improvements, and continued Benihana integration synergies.

Financial Results and Other Select DataUS$s in millionsQ1 2026 GuidanceMarch 29, 20262026 GuidanceDecember 27, 2026
Total GAAP revenues$217 to $221$840 to $855
Consolidated comparable sales0% to 1%1% to 3%
Managed, license and franchise fee revenues$3.5 to $4.0$14 to $15
Total owned operating expenses as a percentage of owned restaurant net revenue82% to 83%82% to 83%
Consolidated total G&A, excluding stock-based compensation$13 to $14Approx. $53
Consolidated Adjusted EBITDA(1)$28 to $29$100 to $110
Consolidated restaurant pre-opening expenses$1 to $2$5 to $6
Consolidated effective income tax rate Approx. 10%
Consolidated total capital expenditures, net of allowances received by landlords $38 to $42
Consolidated number of new system-wide venues 6 to 10 new venues
Note: As of January 1, 2025, we began reporting financial information on a fiscal quarter basis using four 13-week quarters with the addition of a 53rd week when necessary. Our fourth quarter of 2025 had 91 days. For 2026, our fiscal calendar began on December 29, 2025 and ends on December 27, 2026.
(1) We have not reconciled guidance for Consolidated Adjusted EBITDA to the corresponding GAAP financial measure because we do not provide guidance for the various reconciling items. We are unable to provide guidance for these reconciling items because we cannot determine their probable significance, as certain items are outside of our control and cannot be reasonably predicted since these items could vary significantly from period to period. Accordingly, reconciliations to the corresponding GAAP financial measure are not available without unreasonable effort.

Conference Call and Webcast

Emanuel “Manny” Hilario, President and Chief Executive Officer, and Nicole Thaung, Chief Financial Officer, will host a conference call and webcast today at 8:30 AM Eastern Time.

The conference call can be accessed live over the phone by dialing 412-542-4186. A replay will be available after the call and can be accessed by dialing 412-317-6671; the passcode is 10206228. The replay will be available until Friday, March 27, 2026.

The webcast can be accessed from the Investor Relations tab of The ONE Group’s website at www.togrp.com under “News / Events.”

About The ONE Group

The ONE Group Hospitality, Inc. (Nasdaq: STKS) is an international restaurant company that develops and operates upscale and polished casual, high-energy restaurants and lounges and provides hospitality management services for hotels, casinos and other high-end venues both in the U.S. and internationally. The ONE Group is recognized as one of “America’s Greatest Companies” (Newsweek, 2025), and Benihana is honored as one of ”America’s Best Brands for Value” (Forbes, 2025). The ONE Group’s focus is to be the global leader in Vibe Dining, and its primary restaurant brands and operations are:

  • STK, a modern twist on the American steakhouse concept with restaurants in major metropolitan cities in the U.S., Europe and the Middle East, featuring premium steaks, seafood and specialty cocktails in an energetic upscale atmosphere.
  • Benihana, an interactive dining destination with highly skilled chefs preparing food right in front of guests and served in an energetic atmosphere alongside fresh sushi and innovative cocktails. The Company franchises Benihanas in the U.S., Caribbean, Central America, and South America.
  • Samurai, an interactive dining experience located in sunny Miami, FL, provides a distinctive dining experience where skilled personal chefs masterfully perform the ancient art of teppanyaki right before your eyes.
  • Kona Grill, a polished casual, bar-centric Grill concept with restaurants in the U.S., featuring American favorites, award-winning sushi, and specialty cocktails in an upscale casual atmosphere.
  • Salt Water Social is your gateway to the seven seas, featuring an array of signature and unique fresh seafood items, complemented by the highest quality beef dishes and elegant, delicious cocktails.
  • Benihana Express, a small footprint casual concept showcasing the best of Benihana but without teppanyaki tables or bar.
  • RA Sushi, a Japanese cuisine concept that offers a fun-filled, bar-forward, upbeat, and vibrant dining atmosphere with restaurants in the U.S. anchored by creative sushi, inventive drinks, and outstanding service.
  • ONE Hospitality, The ONE Group’s food and beverage hospitality services business develops, manages and operates premier restaurants and turnkey food and beverage services within high-end hotels and casinos currently operating venues in the U.S. and Europe.

Additional information about The ONE Group can be found at www.togrp.com.

Non-GAAP Definitions

We have evolved our definition of non-GAAP financial measures starting in Q4 2025. We use certain non-GAAP measures in analyzing operating performance and believe that the presentation of these measures provides investors and analysts with information that is beneficial to gaining an understanding of the Company’s financial results. Non-GAAP disclosures should not be viewed as a substitute for financial results determined in accordance with GAAP.

We exclude items management does not consider in the evaluation of its ongoing core operating performance from Adjusted EBITDA. Starting in Q4 2025, the Adjusted EBITDA attributable to closed Grill Concepts restaurants is excluded from Adjusted EBITDA. Reconciliations of these non-GAAP measures are included under “Reconciliation of Non-GAAP Measures” in this press release.

*Comparable sales represent total U.S. food and beverage sales at owned and managed units, a non-GAAP financial measure, opened for at least a full 24-months. This measure includes total revenue from our owned and managed locations. The Company monitors sales growth at its established restaurant base in addition to growth that results from restaurant acquisitions and new restaurant openings. Refer to the reconciliation of GAAP revenue to total food and beverage sales at owned and managed units in this press release.

** We define Adjusted EBITDA as net income (loss) before interest expense, provision for income taxes, depreciation and amortization, stock-based compensation, transition and integration expenses, loss on impairment of non-current assets, lease termination and exit expenses, transaction and exit costs, loss on early debt extinguishment, non-cash rent and the Adjusted EBITDA attributable to the closed Grill Concepts restaurants. Adjusted EBITDA has been presented in this press release and is a supplemental measure of financial performance that is not required by, or presented in accordance with, GAAP. Refer to the reconciliation of Net income (loss) to Adjusted EBITDA in this press release.

*** We define Restaurant Operating Profit as owned restaurant net revenue minus owned restaurant cost of sales and owned restaurant operating expenses. Restaurant Operating Profit has been presented in this press release and is a supplemental measure of financial performance that is not required by, or presented in accordance with, GAAP. Refer to the reconciliation of operating income to Restaurant Operating Profit in this press release.

**** We define Adjusted Operating Income as operating income (loss) before transition and integration expenses, loss on impairment of non-current assets, lease termination and exit expenses and transaction and exit costs. Not all the aforementioned items defining Adjusted Operating Income occur in each reporting period but have been included in our definitions of terms based on our historical activity. Adjusted Operating Income has been presented in this press release and is a supplemental measure of financial performance that is not required by, or presented in accordance with, GAAP. Refer to the reconciliation of operating income to Adjusted Operating Income in this press release.

Cautionary Statement on Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, including with respect to 2025 results, the impact of the Benihana Inc. acquisition, portfolio optimization, restaurant openings and 2026 financial targets. Forward-looking statements may be identified by the use of words such as “target,” “intend,” “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward-looking statements, including but not limited to: (1) our ability to integrate the new or acquired restaurants into our operations without disruptions to operations; (2) our ability to capture anticipated synergies; (3) our ability to open new restaurants and food and beverage locations in current and additional markets, grow and manage growth profitably, maintain relationships with suppliers and obtain adequate supply of products and retain employees; (4) factors beyond our control that affect the number and timing of new restaurant openings, including weather conditions and factors under the control of landlords, contractors and regulatory and/or licensing authorities; (5) our ability to successfully improve performance and cost, realize the benefits of our marketing efforts and achieve improved results as we focus on developing new management and license deals; (6) changes in applicable laws or regulations; (7) the possibility that The ONE Group may be adversely affected by other economic, business, and/or competitive factors, including economic downturns; (8) the impact of actual and potential changes in immigration policies, including potential labor shortages; (9) the potential impact of the imposition of tariffs, including increases in food prices and inflation and any resulting negative impacts on the macro-economic environment; (10) risks related to our development and franchise partners; (11) risks related to geopolitical events; and (12) other risks and uncertainties indicated from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K filed for the year ended December 31, 2024 and Quarterly Reports on Form 10-Q.

Investors are referred to the most recent reports filed with the Securities and Exchange Commission by The ONE Group Hospitality, Inc. Investors are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

View full release here.

Investors:
ICR
Michelle Michalski or Raphael Gross
(646) 277-1224
[email protected]

Media:
ICR
Seth Grugle
(646) 277-1272
[email protected]

Source: The ONE Group Hospitality, Inc.

Released March 13, 2026

Release – The ONE Group Hospitality, Inc. to Host Fourth Quarter and Fiscal Year 2025 Earnings Conference Call and Webcast at 8:30 AM ET on March 13, 2026

Posted on by [email protected]

Research News and Market Data on STKS

 Download as PDF March 12, 2026

DENVER–(BUSINESS WIRE)– The ONE Group Hospitality, Inc. (“The ONE Group” or the “Company”) (Nasdaq: STKS) today announced that Emanuel “Manny” Hilario, President and Chief Executive Officer, and Nicole Thaung, Chief Financial Officer, will host a conference call and webcast to discuss fourth quarter and fiscal year 2025 financial results on Friday, March 13, 2026, at 8:30 AM ET. A press release containing the fourth quarter and fiscal year 2025 financial results will be issued before market open that same morning.

The conference call can be accessed live over the phone by dialing 412-542-4186. A replay will be available after the call and can be accessed by dialing 412-317-6671; the passcode is 10206228. The replay will be available until Friday, March 27, 2026.

The webcast can be accessed from the Investor Relations tab of The ONE Group’s website at http://www.togrp.com/ under “News / Events”.

About The ONE Group

The ONE Group Hospitality, Inc. (Nasdaq: STKS) is an international restaurant company that develops and operates upscale and polished casual, high-energy restaurants and lounges and provides hospitality management services for hotels, casinos and other high-end venues both in the U.S. and internationally. The ONE Group is recognized as one of “America’s Greatest Companies” (NEWSWEEK, 2025) and Benihana honored as Forbes Best Brands for Value . The ONE Group’s focus is to be the global leader in Vibe Dining, and its primary restaurant brands and operations are:

  • STK, a modern twist on the American steakhouse concept with restaurants in major metropolitan cities in the U.S., Europe and the Middle East, featuring premium steaks, seafood and specialty cocktails in an energetic upscale atmosphere.
  • Benihana, an interactive dining destination with highly skilled chefs preparing food right in front of guests and served in an energetic atmosphere alongside fresh sushi and innovative cocktails. The Company franchises Benihanas in the U.S., Caribbean, Central America, and South America.
  • Samurai, an interactive dining experience located in sunny Miami, FL, provides a distinctive dining experience where skilled personal chefs masterfully perform the ancient art of teppanyaki right before your eyes.
  • Kona Grill, a polished casual, bar-centric grill concept with restaurants in the U.S., featuring American favorites, award-winning sushi, and specialty cocktails in an upscale casual atmosphere.
  • Salt Water Social is your gateway to the seven seas, featuring an array of signature and unique fresh seafood items, complemented by the highest quality beef dishes and elegant, delicious cocktails.
  • Benihana Express, a small footprint casual concept showcasing the best of Benihana but without teppanyaki tables or bar.
  • RA Sushi, a Japanese cuisine concept that offers a fun-filled, bar-forward, upbeat, and vibrant dining atmosphere with restaurants in the U.S. anchored by creative sushi, inventive drinks, and outstanding service.
  • ONE Hospitality, The ONE Group’s food and beverage hospitality services business develops, manages and operates premier restaurants and turnkey food and beverage services within high-end hotels and casinos currently operating venues in the U.S. and Europe.

Additional information about The ONE Group can be found at www.togrp.com.

Investors:
ICR
Michelle Michalski or Raphael Gross
[email protected]

Media:
ICR
Judy Lee
[email protected]

Source: The ONE Group Hospitality, Inc.

Released March 12, 2026

ACCO Brands (ACCO) – Fourth Quarter and Full year 2025 Results

Posted on by [email protected]


Thursday, March 12, 2026

ACCO Brands Corporation is one of the world’s largest designers, marketers and manufacturers of branded academic, consumer and business products. Our widely recognized brands include AT-A-GLANCE®, Esselte®, Five Star®, GBC®, Kensington®, Leitz®, Mead®, PowerA®, Quartet®, Rapid®, Rexel®, Swingline®, Tilibra®, and many others. Our products are sold in more than 100 countries around the world. More information about ACCO Brands, the Home of Great Brands Built by Great People, can be found at www.accobrands.com.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Overview. Despite continued demand challenges globally and tariff-related disruptions in the U.S., ACCO maintained or grew its market position in most categories, demonstrating the resilience and strength of the brand portfolio. ACCO delivered sales and adjusted EPS in-line with management’s outlook.

4Q25 Results. Net sales were $428.8 million, down 4.3% y-o-y, reflecting soft global demand for certain products, partially offset by growth in gaming accessories. We were at $435 million. Comp sales were down 7.8%. Adjusted EBITDA totaled $68.6 million, or a 16% margin, compared to $73.6 million and 16.4%, respectively, in 4Q24. ACCO reported adjusted EPS of $0.38, flat with the $0.39 reported in 4Q24. We were at $0.38.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Cintas to Acquire UniFirst in $5.5 Billion Deal, Consolidating Uniform Services Market

Posted on by [email protected]

Cintas Corporation (Nasdaq: CTAS) announced an agreement to acquire UniFirst Corporation (NYSE: UNF) in a transaction valued at approximately $5.5 billion, marking one of the largest consolidations in the North American uniform and workplace services industry.

The deal brings together two family-founded companies with long histories serving businesses with uniform rental programs, facility services, and workplace safety products. For investors, the transaction highlights a broader trend toward scale and operational efficiency in a fragmented but highly competitive service sector.

Under the terms of the agreement, UniFirst shareholders will receive $155 in cash and 0.7720 shares of Cintas stock for each share held. Based on Cintas’ closing price of $200.77 on March 9, 2026, the consideration represents a combined value of $310 per share for UniFirst. The transaction carries an implied enterprise value of roughly $5.5 billion.

Once combined, the companies will serve approximately 1.5 million business customers across North America, providing uniforms, facility services products, and safety programs to a wide range of industries.

The uniform rental and facility services market has grown increasingly competitive as companies seek larger service footprints and more efficient logistics networks. The combination of Cintas and UniFirst is expected to expand route density, improve processing capacity, and enhance supply chain efficiency.

Cintas management said integrating UniFirst’s service infrastructure and route networks could strengthen the company’s ability to compete with both traditional uniform service providers and alternative procurement models, including direct-purchase programs and hybrid service models.

Operational integration also extends to technology investments, including systems that support route management, inventory tracking, and service delivery optimization.

For investors, these types of scale-driven efficiencies are often central to consolidation strategies in service-heavy industries where route density and logistics can significantly influence operating margins.

Cintas expects to generate approximately $375 million in operating cost synergies within four years following the closing of the transaction. These savings are projected to come from material sourcing efficiencies, production and service cost improvements, and reductions in selling, general, and administrative expenses.

The company also expects the transaction to become accretive to earnings per share by the end of the second full fiscal year after closing.

At closing, Cintas anticipates maintaining a net leverage ratio of roughly 1.5x debt to EBITDA, reflecting a balance between acquisition financing and balance sheet flexibility.

The cash portion of the purchase price will be funded through a combination of cash on hand, committed credit lines, and other financing sources. Morgan Stanley Senior Funding, KeyBank, and Wells Fargo have provided fully committed bridge financing for the transaction.

The boards of directors of both companies have unanimously approved the transaction. Entities affiliated with the Croatti family—founders of UniFirst—control roughly two-thirds of the company’s voting power and have entered into a voting support agreement in favor of the deal.

Members of the Croatti family also plan to retain an ownership position in the combined company, aligning them with the long-term performance of the merged entity.

The transaction is expected to close in the second half of 2026, subject to regulatory approvals and approval from UniFirst shareholders.

Cintas recently reported preliminary fiscal third-quarter revenue of $2.84 billion for the period ending February 28, 2026, representing an 8.9% year-over-year increase and 8.2% organic growth.

UniFirst is scheduled to report its fiscal second-quarter 2026 results on April 1.

If completed as expected, the acquisition would further solidify Cintas’ position as one of the largest providers of uniform rental and facility services in North America, while continuing a broader trend of consolidation across business services sectors where scale, logistics, and customer relationships play critical roles.

The Beachbody Company (BODI) – Turnaround Complete, Growth Phase Begins

Posted on by [email protected]


Wednesday, March 11, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Q4 results exceeded expectations. Q4 revenue of $55.5 million and adjusted EBITDA of $12.9 million, surpassed our estimates of $53.0 million and $5.0 million, respectively. Although revenue declined 7.3% sequentially and 35.7% year over year due to the continued wind-down of the legacy MLM model, operating income reached $8.2 million, marking the second consecutive profitable quarter and a $41.1 million year-over-year improvement.

Lean cost structure continues to drive strong operating leverage and profitability. Consolidated gross margin expanded 400 basis points year over year to 74.5%, supported by improved operational efficiency and lower digital amortization costs. Total operating expenses declined 64.6% year over year to $33.2 million as restructuring initiatives and the elimination of MLM-related costs materially reduced SG&A. As a result, the company generated $5.2 million in net income and its ninth consecutive quarter of positive adjusted EBITDA.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – Beachbody (BODi) Reports Fourth Quarter and FY 2025 Financial Results

Posted on by [email protected]

Research News and Market Data on BODI

March 10, 2026

Net Income Reported for Second Consecutive Quarter
Net Income and Adjusted EBITDA Better Than Guidance
Revenues Above Mid-Point of Guidance
Ninth Consecutive Quarter of Positive Adjusted EBITDA
Full Year Operating Income Reported for First Time Since Going Public in 2021
Positive Free Cash Flow For the Full Year

EL SEGUNDO, Calif.–(BUSINESS WIRE)– The Beachbody Company, Inc. (NASDAQ: BODi) (“BODi” or the “Company”), a leading fitness and nutrition company, today announced financial results for its fourth quarter ended December 31, 2025.

“Over the past two years, we have taken bold steps to completely transform our company and our 4th quarter results are indicative of our successful efforts,” said Carl Daikleler, co-founder and BODi’s Chief Executive Officer. “Looking ahead, our strengthened financial position along with our innovation pipeline, launching in early 2026, will leverage the brand equity we have built in P90X, Insanity, and Shakeology across new channels and price points which fundamentally broadens our addressable market while maintaining the operational discipline that delivered this turnaround.”

“This was the second consecutive quarter of net income and the ninth consecutive quarter of positive adjusted EBITDA. In addition, the company generated positive free cash flow for the year and our cash position is strong with over $39 million of cash on the balance sheet,” said Mark Goldston, BODi’s Executive Chairman. “We’ve built the operational framework and financial flexibility to capitalize on a massive market opportunity that represents the next phase of our growth strategy.”

Fourth Quarter 2025 Results

  • Total revenue was $55.5 million compared to $86.4 million in the prior year period.
    • Digital revenue was $34.3 million compared to $50.4 million in the prior year period and digital subscriptions totaled 0.87 million in the fourth quarter.
    • Nutrition and Other revenue was $21.2 million compared to $34.8 million in the prior year period and nutritional subscriptions totaled 0.08 million in the fourth quarter.
    • Connected Fitness revenue was $0.0 million compared to $1.2 million in the prior year period as we ceased the sale of bike inventory in the first quarter of 2025.
  • Gross margin was 74.5% compared to 70.5% in the prior year period.
  • Total operating expenses were $33.2 million compared to $93.8 million in the prior year period, which included a $20.0 million impairment of goodwill.
  • Operating income improved by $41.1 million to $8.2 million, the Company’s second consecutive quarter of operating income, compared to an operating loss of $32.9 million in the prior year period. The current period included a $2.2 million benefit from the reversal of a bonus accrual that was recorded in the third quarter and the Company did not record a bonus accrual in the current period.
  • Net income was $5.2 million compared to a net loss of $34.6 million in the prior year period, which included a $20.0 million impairment of goodwill.
  • Adjusted EBITDA 1 was $12.9 million compared to $8.7 million in the prior year period.
  • Adjusted net income (loss) 1 was income of $7.2 million compared to a loss of $4.7 million in the prior year period.

Full Year 2025 Results

  • Total revenue was $251.7 million compared to $418.8 million in the prior year.
    • Digital revenue was $153.3 million compared to $224.3 million in the prior year.
    • Nutrition and Other revenue was $97.6 million compared to $187.8 million in the prior year.
    • Connected Fitness revenue was $0.9 million compared to $6.6 million in the prior year as we ceased the sale of bike inventory in the first quarter of 2025.
  • Gross margin was 73.0% compared to 68.6% in the prior year period.
  • Total operating expenses were $178.3 million compared to $353.6 million in the prior year, which included a $20.0 million impairment of goodwill.
  • Operating income increased by $71.7 million to $5.5 million, the Company’s first full year operating income since going public, compared to an operating loss of $66.2 million in the prior year.
  • Net loss was $2.9 million compared to a net loss of $71.6 million in the prior year, which included a $20.0 million impairment of goodwill.
  • Adjusted EBITDA 1 was $30.8 million compared to $28.3 million in the prior year.
  • Adjusted net income 1 was $3.5 million, the Company’s first full year adjusted net income since going public, compared to a loss of $31.2 million in the prior year.
  • Cash provided by operating activities for the year ended December 31, 2025 was $21.8 million compared to cash provided by operating activities of $2.6 million in the prior year, and cash used in investing activities was $4.4 million compared to cash provided by investing activities of $1.1 million in the prior year. Free cash flow 1 was $17.4 million compared to $(2.0) million in the prior year.

1Definitions of (1) Adjusted EBITDA, (2) adjusted net income (loss), (3) free cash flow and (4) net cash position, and reconciliations to the comparable GAAP metrics, are at the end of this release.

Key Operational and Business Metrics

Outlook for The First Quarter of 2026

Conference Call and Webcast Information

BODi will host a conference call at 5:00pm ET on Tuesday, March 10, 2026, to discuss its financial results and matters other than past results, such as guidance. To participate in the live call, please dial (833) 470-1428 (U.S. & Canada) and provide the conference identification number: 871093. The conference call will also be available to interested parties through a live webcast at https://investors.thebeachbodycompany.com/.

A replay of the call will be available until March 17, 2026, by dialing (866) 813-9403 (U.S. & Canada). The replay passcode is 989620.

After the conference call, a webcast replay will remain available on the investor relations section of the Company’s website for one year.

About BODi and The Beachbody Company, Inc.

BODi, formerly known as Beachbody, has been a pioneer in structured, step-by-step home fitness and nutrition programs for nearly three decades with iconic products such as P90X, Insanity, and 21-Day Fix, plus the original premium superfood nutrition supplement, Shakeology. Since its inception, BODi has helped more than 30 million people reach life-changing results. Today, BODi continues to evolve with a simple mission: help people achieve their goals and lead healthier, more fulfilling lives, especially busy, time-strapped people who want to fit healthy habits into everyday life with proven solutions. The BODi community empowers millions of people to stay motivated and accountable, supporting healthy weight management, improved metabolic function, increased mental, and physical well-being, better sleep, as well as evidence-based habits that enhance health span and longevity. For more information, please visit TheBeachBodyCompany.com.

Safe Harbor Statement

This press release of The Beachbody Company, Inc. (“we,” “us,” “our,” and similar terms) 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, which are statements other than statements of historical facts and statements in future tense. These statements include but are not limited to, statements regarding our future performance and our market opportunity, including expected financial results for the first quarter, our business strategy, our plans, and our objectives and future operations.

Forward-looking statements are based upon various estimates and assumptions, as well as information known to us as of the date hereof, and are subject to risks and uncertainties. Accordingly, actual results could differ materially due to a variety of factors, including: our ability to effectively compete in the fitness and nutrition industries; our ability to successfully acquire and integrate new operations; our reliance on a few key products; market conditions and global and economic factors beyond our control; intense competition and competitive pressures from other companies worldwide in the industries in which we operate; and litigation and the ability to adequately protect our intellectual property rights. You can identify these statements by the use of terminology such as “believe”, “plans”, “expect”, “will”, “should,” “could”, “estimate”, “anticipate” or similar forward-looking terms. You should not rely on these forward-looking statements as they involve risks and uncertainties that may cause actual results to vary materially from the forward-looking statements. For more information regarding the risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements, as well as risks relating to our business in general, we refer you to the “Risk Factors” section of our Securities and Exchange Commission (SEC) filings, including those risks and uncertainties included in the Form 10-K filed with the SEC on March 10, 2026 and any subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K, which are available on the Investor Relations page of our website at https://investors.thebeachbodycompany.com and on the SEC website at www.sec.gov.

All forward-looking statements contained herein are based on information available to us as of the date hereof and you should not rely upon forward-looking statements as predictions of future events. The events and circumstances reflected in the forward-looking statements may not be achieved or occur. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, performance, or achievements. We undertake no obligation to update any of these forward-looking statements for any reason after the date of this press release or to conform these statements to actual results or revised expectations, except as required by law. Undue reliance should not be placed on forward-looking statements.

View full release here.

Investor Relations
[email protected]

Source: The Beachbody Company, Inc.

Oil Spike Sends Airline Stocks Lower as Fuel Costs Surge

Posted on by [email protected]

Airline stocks moved sharply lower Monday as oil prices surged above $100 per barrel, raising concerns about rising jet fuel costs and pressure on industry profitability.

Shares of major U.S. carriers fell after crude oil briefly climbed above $110 per barrel, the highest level since 2022. The move followed escalating geopolitical tensions in the Middle East that disrupted shipping traffic through the Strait of Hormuz, one of the world’s most critical oil transit routes.

Delta Air Lines, American Airlines, and United Airlines all declined in early trading before trimming some losses. Domestic-focused carriers including Southwest Airlines, JetBlue Airways, and Alaska Air Group also traded lower as investors weighed the financial impact of higher fuel prices.

Fuel represents one of the largest operating expenses for airlines, typically accounting for roughly one-fifth to one-quarter of total costs. When oil prices climb quickly, airlines often face immediate margin pressure, particularly if ticket prices cannot be adjusted quickly enough to offset the increase.

Jet fuel prices have climbed significantly in recent weeks, rising by as much as $1.75 per gallon. At those levels, the largest U.S. airlines could see quarterly fuel expenses increase by roughly $1.5 billion each if elevated prices persist. Across the three largest carriers, the additional costs could approach $5 billion.

Higher fuel costs often translate into higher ticket prices as airlines attempt to protect margins. Carriers may adjust fares, reduce promotional pricing, or alter route capacity in response to sustained increases in fuel expenses.

The current price spike also highlights the industry’s increased exposure to energy market volatility. Many airlines previously used fuel hedging strategies to limit the impact of oil price swings. Over the past decade, however, most carriers have moved away from large-scale hedging programs after experiencing losses during periods of falling oil prices. Southwest Airlines, long known for its fuel hedging approach, ended its program in 2025.

In addition to rising energy costs, airlines are facing operational disruptions tied to the conflict. Thousands of flights have been grounded globally as airlines reroute aircraft away from affected airspace, leaving travelers stranded and adding complexity to airline scheduling.

European airline stocks also declined amid the developments. Lufthansa shares dropped roughly 5%, while International Consolidated Airlines Group, the parent company of British Airways and Aer Lingus, fell about 3%. Air France-KLM also moved lower during the session.

The latest selloff adds to a difficult year for airline equities. Shares of Delta, American, and United are down roughly 20% to 30% year to date. Domestic carriers such as JetBlue, Southwest, and Alaska Air have also experienced steep declines in recent weeks.

For investors, the move underscores how closely airline performance remains tied to global energy markets. Even with steady travel demand, sudden spikes in oil prices can quickly reshape the profitability outlook for carriers.

If crude oil remains elevated, airlines may continue adjusting pricing strategies and operating plans as they navigate the industry’s most volatile cost variable.

Release – ACCO Brands Reports Fourth Quarter and Full Year Results and Provides Outlook for 2026

Posted on by [email protected]

Research News and Market Data on ACCO

03/09/2026

Full Year 2025

  • Reported net sales of $1.525 billion; in line with the Company’s outlook
  • Diluted earnings per share of $0.44, adjusted diluted earnings per share of $0.84, in line with the Company’s outlook
  • In the Americas segment sales trends improved, reflecting growth in Technology Accessories and moderating declines in core categories; 2026 outlook anticipates continued trend improvement
  • Multi-year cost reduction program has yielded more than $60 million of savings since inception, on track to deliver $100 million by the end of 2026
  • On January 30, 2026 closed on the EPOS acquisition, part of the Company’s strategic pivot to higher growth technology peripherals

LAKE ZURICH, Ill.–(BUSINESS WIRE)– ACCO Brands Corporation (NYSE: ACCO) today reported financial results for its fourth quarter and twelve-months ended December 31, 2025.

“In the fourth quarter we delivered sales and adjusted EPS in line with our outlook. I am proud of how our teams responded to the ever-changing operating dynamics throughout 2025. We executed well on our multi-year cost reduction program delivering approximately $35 million of savings in 2025, bringing the cumulative total to $60 million. We recently closed on the acquisition of EPOS, a premium audio solutions company, which strengthens our technology peripherals business in markets we know well. This acquisition is another step in our repositioning of ACCO Brands toward higher growth technology peripheral categories,” stated ACCO Brands’ President and Chief Executive Officer, Tom Tedford.

Mr. Tedford continued, “We remain confident in our ability to deliver future value creation for our shareholders. Our proven ability to acquire and manage a portfolio of leading brands, our optimized operational structure, strong cash flows and refined strategic focus, provide a strong platform to support our growth initiatives.”

Fourth Quarter Results

Net sales were $428.8 million, down 4.3 percent from $448.1 million in 2024. Favorable foreign exchange increased sales by $15.8 million, or 3.5 percent. Comparable sales decreased 7.8 percent. The decline in net sales reflects softer global demand for some of our core products, partially offset by growth in gaming accessories.

Operating income was $40.0 million, versus $42.0 million in 2024. Restructuring expense was $8.4 million, compared to $10.7 million in the prior year. Adjusted operating income was $60.1 million, compared to $64.2 million in 2024. The decline in adjusted operating income reflects lower sales volume, reduced fixed-cost absorption, and unfavorable product mix, which were partially offset by cost savings and lower incentive compensation expense.

Net income was $21.3 million, or $0.23 per share, compared with prior-year net income of $20.6 million, or $0.21 per share. The increase in net income reflects items noted above in operating income, as well as the benefit of discrete tax items of $2.0 million, compared to expense of $0.8 million in the prior year. Adjusted net income was $35.5 million, compared to adjusted net income of $37.5 million in 2024, and adjusted earnings per share were $0.38, compared to $0.39 in 2024.

Full Year Results

Net sales were $1.525 billion, down 8.5 percent from $1.666 billion in 2024. Net sales declines reflect the impact of softer global demand and tariff-related disruptions.

Operating income was $92.3 million, versus an operating loss of $37.0 million in 2024, primarily due to non-cash impairment charges of $165.2 million related to goodwill and intangible assets within the Americas segment in the prior year. Restructuring expense associated with our multi-year cost reduction program was $21.6 million, compared to $16.8 million in the prior year. Current year operating income benefited from a net gain on sale of assets of $6.8 million. Adjusted operating income was $153.3 million, down from $189.7 million in 2024. Adjusted operating income decline reflects lower sales volume and tariff-related impacts, which were partially offset by cost savings and lower incentive compensation expense.

Net income was $41.3 million, or $0.44 per share, compared to a net loss of $101.6 million, or $(1.06) per share, in 2024. Current year net income was positively impacted by $13.0 million as a result of the reversal of tax reserves for Brazil. The prior year loss reflects the items noted above in operating income. Adjusted net income was $78.8 million, compared to $99.2 million in 2024, and adjusted earnings per share were $0.84 per share, compared to $1.02 per share in 2024.

Cash Flow, Debt and Dividend

For the full year, operating cash flow was $68.7 million versus $148.2 million in the prior year. Adjusted free cash flow of $69.5 million, which includes $18.7 million from asset sales, compared to $132.3 million in the prior year. The Company’s consolidated leverage ratio as of December 31, 2025 was 4.1x.

In 2025, the Company paid dividends of $27.0 million and repurchased 3.2 million shares of common stock for $15.1 million.

On February 27, 2026, ACCO Brands announced that its board of directors declared a regular quarterly cash dividend of $0.075 per share. The dividend will be paid on March 26, 2026 to stockholders of record at the close of business on March 20, 2026.

Business Segment Results

ACCO Brands Americas – Fourth quarter segment net sales of $244.4 million decreased 2.7 percent from $251.3 million in the prior year. Net sales in the quarter were negatively impacted by softer demand in core categories, partly offset by growth in gaming and computer accessories and price increases.

Fourth quarter operating income was $31.4 million, compared to $31.2 million a year earlier. Restructuring expense associated with the multi-year cost reduction program was $4.5 million, compared to $3.1 million in the prior year. Adjusted operating income was $43.3 million, up from $41.6 million in the prior year. The increase in adjusted operating income reflects cost savings, price realization and lower incentive compensation, more than offsetting lower sales volume, reduced fixed-cost absorption and unfavorable product mix.

ACCO Brands International – Fourth quarter segment net sales of $184.4 million decreased 6.3 percent from $196.8 million in the prior year. Favorable foreign exchange increased sales by 5.4 percent. Comparable sales were $173.7 million, down 11.7 percent versus the prior year. Comparable sales declines reflect reduced demand for our core product categories and a difficult sales comparison in Europe.

Fourth quarter operating income was $17.8 million, compared to $24.0 million in the prior year. Restructuring expense associated with the multi-year cost reduction program of $3.9 million, compared to $4.2 million in the prior year. Adjusted operating income was $26.0 million, compared with $32.4 million in the prior year. The decrease in adjusted operating income reflects the impact of lower sales volume and unfavorable product mix, partially offset by price increases and cost savings.

2026 Outlook

“We expect the combination of the EPOS acquisition, improved end markets and foreign exchange to drive positive revenue growth in 2026. Our commitment to operational excellence through continued cost management and productivity programs position us to deliver improved profits and cash flow. With our optimized operational structure and portfolio of leading brands, we have a strong platform to generate consistent free cash flow while investing in faster growing categories,” concluded Mr. Tedford.

For the full year, the Company expects reported sales to be in the range of flat to up 3.0%. Full year adjusted EPS is expected to be within the range of $0.84 to $0.89. The Company expects 2026 free cash flow to be within the range of $75 million to $85 million, with a consolidated leverage ratio within a range of 3.7x to 3.9x.

In the first quarter, the Company expects reported sales to be in the range of flat to up 3.0% and adjusted loss per share within a range of ($0.06) to ($0.03).

Webcast

At 8:30 a.m. ET on March 9, 2026, ACCO Brands Corporation will host a conference call to discuss the Company’s fourth quarter 2025 results. The call will be broadcast live via webcast. The webcast can be accessed through the Investor Relations section of www.accobrands.com. The webcast will be in listen-only mode and will be available for replay following the event.

About ACCO Brands Corporation

ACCO Brands is the leader in branded consumer products that enable productivity, confidence and enjoyment while working, when learning and while playing. Our widely recognized brands, include AT-A-GLANCE®, Five Star®, Kensington®, Leitz®, Mead®, PowerA®, Swingline®, Tilibra® and many others. More information about ACCO Brands Corporation (NYSE: ACCO) can be found at www.accobrands.com.

Non-GAAP Financial Measures

In addition to financial results reported in accordance with generally accepted accounting principles (GAAP), we have provided certain non-GAAP financial information in this earnings release to aid investors in understanding the Company’s performance. Each non-GAAP financial measure is defined and reconciled to its most directly comparable GAAP financial measure in the “About Non-GAAP Financial Measures” section of this earnings release.

Forward-Looking Statements

Statements contained herein, other than statements of historical fact, particularly those anticipating future financial performance, business prospects, growth, strategies, business operations and similar matters, results of operations, liquidity and financial condition, and those relating to cost reductions and anticipated pre-tax savings and restructuring costs are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of management based on information available to us at the time such statements are made. These statements, which are generally identifiable by the use of the words “will,” “believe,” “expect,” “intend,” “anticipate,” “estimate,” “forecast,” “future”, “project,” “plan,” and similar expressions, are subject to certain risks and uncertainties, are made as of the date hereof, and we undertake no duty or obligation to update them. Forward-looking statements are subject to the occurrence of events outside the Company’s control and actual results and the timing of events may differ materially from those suggested or implied by such forward-looking statements due to numerous factors that involve substantial known and unknown risks and uncertainties. Investors and others are cautioned not to place undue reliance on forward-looking statements when deciding whether to buy, sell or hold the Company’s securities.

Our outlook is based on certain assumptions which we believe to be reasonable under the circumstances. These include, without limitation, assumptions regarding consumer demand, tariffs, global geopolitical and economic uncertainties, and fluctuations in foreign currency exchange rates; and the other factors described below.

Among the factors that could cause our actual results to differ materially from our forward-looking statements are: changes in trade policy and regulations, including changes in trade agreements and the imposition of tariffs, and the resulting consequences; global political and economic uncertainties; a limited number of large customers account for a significant percentage of our sales; sales of our products are affected by general economic and business conditions globally and in the countries in which we operate; risks associated with foreign currency exchange rate fluctuations; challenges related to the highly competitive business environment in which we operate; our ability to develop and market innovative products that meet consumer demands and to expand into new and adjacent product categories; our ability to successfully expand our business in emerging markets and the exposure to greater financial, operational, regulatory, compliance and other risks in such markets; the continued decline in the use of certain of our products; risks associated with seasonality, the sufficiency of investment returns on pension assets, risks related to actuarial assumptions, changes in government regulations and changes in the unfunded liabilities of a multi-employer pension plan; any impairment of our intangible assets; our ability to secure, protect and maintain our intellectual property rights, and our ability to license rights and receive certifications from equipment and software businesses to support our technology accessories business; the introduction by third parties of new and successful gaming consoles; our ability to grow profitably through acquisitions, and successfully integrate them; our ability to successfully execute our multi-year restructuring and cost savings program and realize the anticipated benefits; continued disruptions in the global supply chain; risks associated with inflation and other changes in the cost or availability of raw materials, transportation, labor, and other necessary supplies and services and the cost of finished goods; risks associated with outsourcing production of certain of our products, information technology systems and other administrative functions; the failure, inadequacy or interruption of our information technology systems or their supporting infrastructure; risks associated with a cybersecurity incident or information security breach, including that related to a disclosure of personally identifiable information; risks associated with the use by us and other suppliers of artificial intelligence, risks associated with our indebtedness, including limitations imposed by restrictive covenants, our debt service obligations, and our ability to comply with financial ratios and tests; a change in or discontinuance of our stock repurchase program or the payment of dividends; product liability claims, recalls or regulatory actions; the impact of litigation or other legal proceedings; the impact of additional tax liabilities stemming from our global operations and changes in tax laws, regulations and tax rates; our failure to comply with applicable laws, rules and regulations and self-regulatory requirements, the costs of compliance and the impact of changes in such laws; our ability to attract and retain qualified personnel; the volatility of our stock price; risks associated with circumstances outside our control, including those caused by telecommunication failures, labor strikes, power and/or water shortages, public health crises, such as the occurrence of contagious diseases, severe weather events, war, terrorism and other geopolitical incidents; and other risks and uncertainties described in “Part I, Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, and in other reports we file with the Securities and Exchange Commission.

View full release here.

Christopher McGinnis
Investor Relations
(847) 796-4320

Kori Reed
Media Relations
(224) 501-0406

Source: ACCO Brands Corporation

Jobs Report Shock: U.S. Economy Loses 92,000 Jobs in February as Unemployment Ticks Higher

Posted on by [email protected]

The U.S. labor market delivered an unpleasant surprise in February.

According to new Labor Department data released Friday, the economy lost 92,000 jobs, sharply missing economists’ expectations for a 55,000-job gain. The report also pushed the unemployment rate up to 4.4%, adding to concerns that the early-year hiring rebound may be losing momentum.

For investors and policymakers watching closely, the data suggests the labor market may be entering a softer phase after months of uneven job growth.

A Sudden Shift in the Hiring Trend

February’s decline stands in stark contrast to January’s previously reported 130,000 payroll increase, which had raised hopes that hiring was stabilizing. However, revisions to prior months painted a weaker picture.

January’s gains were revised down by 4,000 jobs, while December’s data was adjusted from a 48,000 increase to a loss of 17,000 positions. Combined, those revisions removed 69,000 jobs from prior employment estimates.

Taken together with February’s decline, the labor market appears significantly weaker than many economists expected at the start of 2026.

Guy Berger, director of economic research at the Burning Glass Institute, described the data bluntly on social media, calling the release an “ugly report.”

The combination of falling payrolls and rising unemployment reinforced concerns that labor demand may be cooling across multiple sectors.

Long-Term Unemployment Edges Higher

Another notable signal from the report was the rise in long-term unemployment.

The share of workers unemployed for 27 weeks or longer climbed to 25.3% of total unemployed workers, suggesting that some displaced workers are taking longer to reenter the workforce.

While still well below levels seen during major recessions, the increase may indicate early stress in certain parts of the job market.

Labor economists often watch this metric closely because rising long-term unemployment can signal a more persistent slowdown in hiring.

Healthcare Disruptions Skew the Numbers

One key factor behind February’s weak headline number was disruption in the healthcare sector.

Healthcare payrolls fell by 28,000 jobs, largely due to strike activity. A major labor dispute involving 31,000 Kaiser Permanente healthcare workers in California and Hawaii temporarily removed employees from payroll counts during the survey period.

Healthcare and social assistance have been among the most reliable sources of job creation in recent years, making the decline especially notable.

Without the strike-related losses, February’s employment picture may have looked somewhat stronger.

A Narrow Engine for Job Growth

Even with the healthcare setback, social assistance jobs—such as home health and personal care aides—rose by 9,000 positions, representing one of the few areas of expansion in the report.

The data highlights how concentrated job growth has become in recent years. Healthcare and social services have carried much of the employment expansion while other sectors remain more uneven.

For markets, the report could carry implications for Federal Reserve policy expectations, as investors assess whether cooling labor conditions might influence interest-rate decisions later this year.

While a single report does not define a broader trend, February’s numbers underscore how fragile the labor market recovery may be heading into the spring.

Codere Online (CDRO) – Favorable Operating Momentum

Posted on by [email protected]


Monday, March 02, 2026

Codere Online refers, collectively, to Codere Online Luxembourg, S.A. and its subsidiaries. Codere Online launched in 2014 as part of the renowned casino operator Codere Group. Codere Online offers online sports betting and online casino through its state-of-the art website and mobile application. Codere currently operates in its core markets of Spain, Italy, Mexico, Colombia, Panama and the City of Buenos Aires (Argentina). Codere Online’s online business is complemented by Codere Group’s physical presence throughout Latin America, forming the foundation of the leading omnichannel gaming and casino presence in the region.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Solid Q4 Results. The company reported Q4 revenue of €60.7 million and adj. EBITDA of €6.7 million, both of which surpassed our estimates of €57.0 million and €3.0 million, respectively. Notably, the company benefited from strong user activity in the quarter, both in monthly active users and first time deposits (FTD), as well as an improved cost per acquisition (CPA).

Favorable fundamentals. Notably, in Q4, the company benefited from strong activity in Mexico, which generated revenue of €32.8 million, up 31% YoY. The favorable performance in Mexico was supported by 99,000 average monthly users, up 43% YoY. On a consolidated basis, the company averaged 177,000 monthly active users, up 20% YoY. Furthermore, the company benefited from efficient CPA spend of €166, with 89,000 FTD recorded in Q4, which is up 22% over the prior year period.


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Wholesale Inflation Heats Up: Producer Prices Jump 0.5% in January, Complicating Fed Outlook

Posted on by [email protected]

U.S. wholesale inflation came in hotter than expected in January, adding a fresh wrinkle to the Federal Reserve’s already delicate balancing act on interest rates.

The Labor Department reported Friday that its Producer Price Index (PPI) — which measures price changes before they reach consumers — rose 0.5% from December and 2.9% from a year earlier. Economists surveyed by FactSet had forecast a 0.3% monthly increase and a 1.6% annual gain.

The upside surprise didn’t stop there.

Excluding volatile food and energy prices, so-called core wholesale prices climbed 0.8% month over month and 3.6% from a year ago — both well above expectations. The annual core increase was the largest since March of last year.

Services Drive the Upside

Much of January’s acceleration came from services, particularly higher profit margins for retailers and wholesalers.

That detail is significant.

It suggests companies may be maintaining — or expanding — pricing power, even as tariff costs shift and input prices fluctuate. Samuel Tombs, chief U.S. economist at Pantheon Macroeconomics, noted that while retailers’ tariff bills have edged down in recent months, selling prices have continued to rise.

Core goods prices also strengthened, rising 0.7% from December and 4.2% year over year. Hefty increases were reported in categories including cosmetics, pet food, certain metals, and metal-cutting machinery.

In contrast, energy prices provided some relief. Gasoline prices dropped 5.5% from December and were down 15.7% from a year earlier. Wholesale food prices also declined.

A Mixed Inflation Picture

The hotter PPI report comes just two weeks after consumer price data showed more moderation. The Consumer Price Index (CPI) rose 2.4% year over year in January — moving closer to the Federal Reserve’s 2% target.

But wholesale inflation can act as an early indicator of future consumer price pressures. Some PPI components — particularly health care and financial services — also feed directly into the Fed’s preferred inflation gauge, the Personal Consumption Expenditures (PCE) index.

In December, PCE inflation rose 2.9% year over year, marking its fastest pace since March 2024.

For policymakers, that backdrop complicates the rate outlook.

The Fed cut its benchmark rate three times last year in response to a cooling labor market. However, it has since adopted a more cautious stance, signaling it wants clearer evidence that inflation is sustainably moving toward 2%.

Following Friday’s report, Nationwide economist Ben Ayers said he expects the Fed to remain on pause at its upcoming March meeting.

Why It Matters for Investors

Markets have been wrestling with two competing narratives in 2026: moderating consumer inflation versus persistent underlying price pressures.

The stronger-than-expected wholesale reading reinforces the idea that inflation may prove stickier than hoped — especially in services and core goods. For equities, that could mean renewed volatility if bond yields rise on expectations of prolonged higher rates.

For fixed-income investors, it underscores that the path to further rate cuts may not be straightforward.

In short, January’s data doesn’t signal a resurgence of runaway inflation. But it does suggest the Fed’s job isn’t finished — and markets may need to recalibrate expectations for how quickly monetary easing resumes.

Release – ACCO Brands Corporation Declares Quarterly Dividend

Posted on by [email protected]

Research News and Market Data on ACCO

02/27/2026

LAKE ZURICH, Ill.–(BUSINESS WIRE)– ACCO Brands Corporation (NYSE: ACCO) today announced that its board of directors has declared a quarterly cash dividend of $0.075 per share. The dividend will be paid on March 26, 2026, to stockholders of record as of the close of business on March 20, 2026.

About ACCO Brands Corporation

ACCO Brands is the leader in branded consumer products that enable productivity, confidence and enjoyment while working, when learning and while playing. Our widely recognized brands include AT-A-GLANCE®, Five Star®, Kensington®, Leitz®, Mead®, PowerA®, Swingline®, Tilibra® and many others. More information about ACCO Brands Corporation (NYSE: ACCO) can be found at www.accobrands.com.

Chris McGinnis
Investor Relations
(847) 796-4320

Kori Reed
Media Relations
(224) 501-0406

Source: ACCO Brands Corporation