The Procter & Gamble Company reported its third quarter of fiscal 2026 results, with management noting that "Organic sales increased more than 3% versus the prior year." Chief Financial Officer Andre Schulten stated that for the quarter, "core earnings per share came in at $1.59," and the company "returned $3.2 billion of cash to shareowners this quarter, $2.5 billion in dividends and over $600 million in share repurchases." On margins for the quarter, Schulten reported that "core gross margin was down 100 basis points, and core operating margin was down 80 basis points versus prior year."Management emphasized a commitment to their "integrated growth strategy" and driving "constructive disruption." The company highlighted product momentum with recent innovations, including Fairy Skip the Soak, Mr. Clean Shower & Tub scrubber, and Tide EVO. Additionally, Pampers and SK-II led growth in Greater China, "each up double digits." The company also discussed progress on "Supply Chain 3.0," aiming for a more complete system connection and operational automation, and noted being on track to deliver a "15% nonmanufacturing head count reduction over 2 years" as part of its restructuring program.

Looking ahead, P&G is maintaining its fiscal 2026 guidance ranges but expects "full year EPS results to be towards the lower end of the guidance range" due to a new "headwind of approximately $150 million after tax for the fiscal" tied to commodity inflation and logistics disruptions from the conflict in the Middle East.

The company expects fiscal year "organic sales growth of in line to 4%" and fiscal year "core EPS growth in line to 4% versus prior year.

This equates to a range of $6.83 to $7.09 per share." For the full fiscal year, P&G forecasts "adjusted free cash flow productivity in the range of 85% to 90%" and a "plan to return roughly $15 billion of cash to shareowners at fiscal 26."

In the first quarter of 2026, Newmont Corporation reported "adjusted EBITDA of $5.2 billion" and "adjusted net income of 2.90perdilutedshareforthequarter".Thecompanygenerated"3.8 billion in cash flow from operations after working capital" and a "record $3.1 billion of free cash flow". Gold "all-in sustaining costs were below our full year guidance at $1,029 per ounce for the first quarter on a byproduct basis".During the quarter, the company produced "1.3 million ounces of gold, 30,000 tonnes of copper and 9 million ounces of silver". Management addressed the "magnitude 4.5 earthquakes that occurred near the operation on April 14" at Cadia, noting there were "no injuries" and they "expect underground rehabilitation to be completed in the next 5 weeks, enabling return to 80% operating capacity" with "full recovery expected by the end of the second quarter". The company also authorized "another $6 billion share repurchase program" and continues to "engage constructively with our Nevada Gold Mines joint venture partner" following a notice of default.

Newmont is maintaining its "full year production guidance of 5.3 million ounces" and full year cost guidance.

For the second quarter, "production is expected to be slightly below the first quarter" and "All-in sustaining costs are expected to be notably higher in the second quarter" driven by the ramp-up in sustaining capital and "lower silver production than we saw in the first quarter as planned". Operations are expected to return "to normal levels beginning the third quarter".

For the first quarter of 2026, Marc Casper stated, "Our revenue grew 6% to $11.01 billion." First quarter adjusted operating income grew 6% to $2.4 billion, and the Q1 adjusted operating margin was 21.8%.

Management reported they grew adjusted EPS by 6% to $5.44 per share.

First quarter cash flow from operations was $1.2 billion and free cash flow was $830 million.

Total company adjusted gross margin in the first quarter was 40.8%.

The company also deployed $3.2 billion of capital to shareholders through $3 billion of share buybacks and approximately $160 million of dividends in the first quarter.

Management highlighted their growth strategy consisting of three pillars: high-impact innovation, their trusted partner status with customers, and their unparalleled commercial engine.

During the first quarter, the company completed the acquisition of Clario for approximately $9 billion.

Marc Casper noted that Clario is a market leader in digital endpoint data solutions and described it as an outstanding strategic fit and highly complementary to their clinical research capabilities.

Thermo Fisher Scientific Inc. also formed a strategic collaboration with SHL Medical to offer fully integrated sterile fill-finish and device assembly solutions, and progressed a strategic collaboration with NVIDIA to integrate advanced AI capabilities into their laboratory technologies.

Notable first quarter product launches included the Thermo Scientific Glacios 3 Cryo-TEM, an electron microscope that features AI-enabled workflows, and the Thermo Scientific TSQ Certis Triple Quad Mass Spectrometer.

The company also introduced the Thermo Scientific Niton XL5E handheld XRF analyzer, the Gibco CTS Compleo fill and finish system, and the FluidEase Pro ClipTip electronic pipettes.

Additionally, the company opened a new Cryo-EM Drug Discovery Center in San Francisco.

For the full year 2026, management is raising their guidance on the top and bottom line.

They expect full year revenue to be in a new range of $47.3 billion to $48.1 billion, which continues to assume 3% to 4% organic revenue growth.

Adjusted earnings per share for the full year 2026 is expected to be in the range of $24.64 to $25.12.

For the second quarter of 2026, the company is assuming organic revenue growth of about 3% and expects Q2 adjusted EPS to be between $0.25 and $0.30 higher than Q1. Management estimates between $1.9 billion and $2.1 billion of net capital expenditures, approximately $660 million of net interest expense, and free cash flow in the range of $6.9 billion to $7.4 billion for the full year.

American Express Company reported its Q1 2026 earnings with EPS of $4.28 for the quarter, up 18 percent over the prior year.

Management stated, "Revenue in the quarter grew 11% or 10% on an FX-adjusted basis". Overall spend was up 10 percent FX reported this quarter.

Provision expense of $1.3 billion for the quarter included a reserve release of $24 million.

The VCE to revenue ratio was 44.7 percent this quarter.

The company noted accelerated spend growth within its U.S. Platinum portfolio following a recent refresh.

Management stated they will increase investments in marketing and technology for the year to capitalize on key growth opportunities.

The company acquired a company called HyperCard, bringing in expertise in expense management.

The company returned $2.3 billion of capital to shareholders in the quarter, including $0.7 billion of dividends and $1.7 billion of share repurchases.

Regarding forward guidance, management stated, "we are reaffirming our full year guidance of revenue growth of 9% to 10% and earnings per share between $17.30 and $17.90". The company expects NII growth to continue to outpace growth in balances for the year.

For the full year, the company expects the VCE to revenue ratio to be around 44 percent.

The company expects marketing expenses to grow in the mid-single digits for the full year.In notable announcements, the company announced a multiyear global partnership with the NFL, making American Express the League's official payments partner beginning with the 2026 season.

The company announced new multiyear sports and entertainment agreements with MetLife Stadium and Mercedes-Benz Stadium, and renewed its sponsorship with the NBA. The company announced a roadmap for new commercial products starting with the launch of the new Graphite Business Cash Unlimited card.

The company also introduced the Amex Agentic Commerce Experiences or ACE Developer Kit, along with Amex Agent purchase protection.

During the Q1 2026 earnings call, Chief Financial Officer Gina Mastantuono reported that Q1 subscription revenues were $3.671 billion.

She noted that RPO ended the quarter at approximately $27.7 billion and current RPO was $12.64 billion.

Mastantuono also stated that the non-GAAP operating margin was 32% and the free cash flow margin was 44% for the quarter.

Chief Executive Officer Bill McDermott highlighted that subscription revenue grew 19% in constant currency.

Management emphasized their strategic focus on the AI control tower for business reinvention. McDermott discussed the integration of recent acquisitions, noting that Moveworks closed 7-figure deals in Q1 and has rebranded as employee works. He also highlighted the recent acquisition of Armis, which solves visibility, real-time agentless discovery of every asset, and Veza, which solves the identity governance.

Furthermore, McDermott stated that 50% of net new business now comes from a non-seat-based pricing model.

Providing forward guidance for the full year 2026, Mastantuono stated they are raising our subscription revenues by $205 million at the midpoint to $15.735 billion to $15.775 billion.

For the full year, they expect a subscription gross margin of 81.5%, an operating margin of 31.5%, and a free cash flow margin of 35%.

For Q2 2026, the company expects subscription revenues between $3.815 billion and $3.820 billion and an operating margin of 26.5%.

Regarding product and partnership announcements, McDermott stated that the entire ServiceNow portfolio is AI native and announced that ServiceNow launched autonomous workforce. He also highlighted that OpenAI native voice and text models are integrated directly into the ServiceNow AI platform and mentioned that ServiceNow and Cohesity announced a partnership to deliver agent resilience.

Additionally, he noted that ServiceNow and Carisoft expanded our partnership to extend ServiceNow AI platform availability.

For the first quarter of 2026, Bank OZK reported a "420 net interest margin" which management noted is "really strong" and drives profitability well above the industry.

The bank maintained a "39% efficiency ratio" while navigating a competitive environment. On the balance sheet, management highlighted "just under $2 billion in growth over the last year" for deposits, while simultaneously "reducing rates by 18 basis points" and maintaining average depositor balances of $52,000.

Additionally, the bank deployed excess liquidity into investments early in the quarter, allocating about 40% into municipal housing bonds with a "tax equivalent yield of around 6%" and 60% into agency mortgage-backed securities yielding in the "460 range or better".Management emphasized the Corporate and Institutional Banking division as the "predominant growth engine" for the bank.

This group now encompasses "over 42 different industry niches" and recently launched "franchise capital solutions" to complement existing asset-based lending, equipment finance, and fund finance services.

Executives noted they are "passing on 80%, 85% of the deals" they see to maintain credit quality, yet still achieved a "12 bp uptick on the average spread" for new deals.

Conversely, the Real Estate Specialties Group is experiencing repayment headwinds, particularly from multifamily projects, though management expects a "slowing of the headwinds from RESG repayments in 2027". The bank's indirect lending segment, described as a "high prime, super prime consumer portfolio", stayed steady and pushed up to about 13% of the portfolio.

Providing forward guidance, executives stated they expect the efficiency ratio will "stay in that high 30s range this year and maybe into next year" as they invest in fee-generating businesses like trust and wealth and treasury management.

Management also projected that the Corporate and Institutional Banking portfolio will "pull up even with RESG" in 2027.

Regarding interest rates, the bank is "agnostic as to whether rates go up 25 basis points or 50 basis points, or rates go down 25 basis points or 50 basis points". Finally, concerning credit quality for the IQHQ San Diego life science project maturing in August, executives affirmed they "expect sponsor support to continue" for that asset.

Elevance Health reported first quarter adjusted diluted earnings per share of $12.58.

Chief Financial Officer Mark Kaye reported that "Operating revenue totaled $49.5 billion" for the quarter.

The company's consolidated benefit expense ratio was 86.8% for the quarter, and the adjusted operating expense ratio was 10.5% for the quarter.

During the quarter, Elevance Health recorded an accrual of $935 million related to historical risk adjustment data submitted to CMS, along with a $129 million charge related to business optimization.

Operating cash flow for the quarter was $4.3 billion.

President and CEO Gail Boudreaux stated that the company strategy remains clear: "lower the cost of health care and simplify how people navigate the system". To support this strategy, the company is investing more than $1 billion in digital and AI-enabled capabilities, embedding these tools across clinical, operational, and administrative workflows.

Boudreaux also provided an update on Carelon, reporting that the combination of CareBridge and Care at Home capabilities into a single risk-based solution has "reduced hospital readmission by 20% and generated more than 10% savings on post-acute care". Additionally, Boudreaux noted the company's AI-enabled virtual assistant is being used by 22 million commercial members.

Looking ahead, Elevance Health is raising its full year 2026 adjusted diluted earnings per share guidance to at least $26.75.

For the year 2027, management expects to return to at least 12% adjusted EPS growth based off a revised 2026 earnings baseline of $25.75.

The company anticipates full year 2026 operating cash flow of at least $5.5 billion and expects to execute at least $2.3 billion in share repurchases over the year.

Management also reaffirmed a full year operating margin outlook of approximately negative 1.75% for the Medicaid business, while remaining on track to achieve an operating margin of at least 2% in the Medicare business for the year.

For the first quarter, management noted that "Both MIS and MA grew revenues by 8%". The company reported "150 basis points of adjusted operating margin to 53.2%" and "adjusted diluted EPS of $4.33" for the quarter. In the first quarter, the company generated "free cash flow of $844 million" and "returned $1.7 billion through buybacks and dividends in the quarter". "MA revenue increased 8% in the first quarter" as reported, and "MIS delivered an adjusted operating margin of 66.7%".Management stated that "ratings issuance continues to reflect long-term funding needs tied to infrastructure, technology, private credit and energy transition". For the first quarter, "rated issuance surpassed $2 trillion for the first time," which was led by "near record investment-grade volumes". The company experienced "private credit related revenue in Ratings growing more than 80% year-over-year". The company also announced that "Christina Kosmowski will become Moody's Analytics CEO in June".Regarding product and partnership announcements, management highlighted "partnerships that significantly extend our distribution," noting that "Moody's license intelligence can now be accessed directly within enterprise AI environments such as ChatGPT Enterprise and Claude". The company also launched "a dedicated Moody's agent in Microsoft 365 CoPilot". In the ratings segment, the company was the first rating agency to publish "a methodology for stable coins" and is now "live on The Canton Network, making Moody's the first rating agency operating a node in the privacy-enabled blockchain ecosystem".The company stated that "full year guidance remains unchanged across revenue, adjusted operating margin and adjusted diluted EPS". The company "increased full year buyback guidance by $500 million to approximately $2.5 billion" for 2026.

For the second quarter, management expects "MIS revenue growth in the low to mid-teens with adjusted diluted EPS of approximately $4.15 to $4.30". The company expects to "close the sale of our Regulatory Solutions business on April 30".

In the first quarter of 2026, GE Vernova Inc. booked orders of $18.3 billion, representing a 71% increase year-over-year.

Revenue increased 7% with growth in both equipment and services.

Adjusted EBITDA grew 87% year-over-year to $896 million, and the adjusted EBITDA margin expanded 390 basis points.

The company generated $4.8 billion in free cash flow in the first quarter.

Management highlighted that the company's total backlog expanded to $163 billion. GE Vernova completed the acquisition of the remaining 50% ownership stake of Prolec for $5.3 billion, adding new factory capacity and expanding its offerings in transformers.

The company is also deploying artificial intelligence to automate the matching of installed base demand and streamline manual sourcing processes, which management expects will save tens of millions of dollars every year going forward.

For the full year of 2026, GE Vernova raised its revenue guidance to a range of $44.5 billion to $45.5 billion.

The company increased its 2026 free cash flow guidance to between $6.5 billion and $7.5 billion.

Management also raised the full year adjusted EBITDA margin expectation to 12% to 14%.

Second quarter 2026 expectations include positive free cash flow and electrification segment revenues between $3.3 billion and $3.5 billion.

The company experienced significant demand from data centers, which accounted for approximately $2.4 billion in first quarter electrification orders. GE Vernova closed its first energy management system order to complement substation equipment for a data center customer in the first quarter. In the nuclear sector, management highlighted a U.S. and Japanese government announcement of up to $40 billion for GE Vernova Hitachi to build small modular reactors in the U.S..

Spotify Technology S.A. reported financial results for the first quarter of 2026.

Management stated "Total revenue was EUR 4.5 billion" for the quarter.

Additionally, they reported an "operating income of EUR 715 million" and noted that "free cash flow was EUR 824 million in the quarter". The company finished the quarter with 761 million monthly active users and added 3 million net subscribers, finishing at 293 million subscribers.

The "Gross margin came in at 33%" for the quarter.

The company discussed integrating AI across its operations to accelerate product development.

Management noted that "IDJ is now used by 94 million subscribers" and highlighted the launch of new AI powered features like "Taste Profile" and "Prompted Playlist" to allow users to actively shape their platform experience. On the advertising side, executives mentioned that they rebuilt their ad stack to capture programmatic and automated sales, noting that "Biddable represents more than 1/3 of ad revenue" for the quarter.A new partnership was announced in the fitness space, with the company "launching a fitness hub on Spotify" that "features Peloton's premium subscriber content in an ad-free experience". Looking ahead to the second quarter of 2026, management provided forward guidance of "MAU of 778 million" and "299 million" subscribers.

They are forecasting "total revenue of approximately EUR 4.8 billion" with an anticipated "quarter 2 gross margin of 33.1%" and guiding to "EUR 630 million" in operating income for the upcoming quarter.