Earnings Surprises

In a complex macro and geopolitical environment, our team delivered another record quarter, achieving 93% occupancy- highest in the Company’s history, record yields, and 16% EBITDA growth.

We’re off to a strong start to the year, exceeding expectations for the fifth consecutive quarter as our Bold New Chapter strategy continues to build momentum.

Our strong first-quarter results and raised full-year guidance reflect the momentum of the Ford+ plan.

We saw strong demand for our brands during the first quarter across each of our U.S. Retail, U.S. Wholesale and International channels.

Our outperformance in the first quarter shows that our broad-based momentum from 2025 has continued into 2026. Our excellent top line growth was driven by both acceleration in our active customer base, which surpassed three million for the first time in our history, and strong repeat dynamics.

The strength of our first-quarter results reflects increased snowfall driven demand, disciplined execution, and continued progress against our strategic priorities.

We delivered a solid start to the year with positive quarterly sell-through led by the successful launch of No. 3 PLUS. Through the disciplined operational execution of our transformation priorities, our higher sales translated to a strong quarter.

"2026 is off to a solid start and we remain on track to execute our strategic priorities for the year,"

Looking at fiscal 2026 we were encouraged by the progress we made executing against the strategic initiatives introduced last year to maximize the full potential of our two iconic fashion luxury houses, Michael Kors and Jimmy Choo.

We're making customers' lives easier and better every day across all our businesses, and their response is driving significant growth.

ACV delivered solid financial results in Q1-26, reporting record revenue and Adjusted EBITDA above the high-end of guidance. Results were driven by continued market share gains in dealer wholesale and strong adoption of our Marketplace Services.

Our team executed well in the first quarter. We started seeing the tangible results from our efforts to establish a more robust operating system which drove improved performance on stronger volumes.

We began 2026 on a positive trajectory, delivering improved earnings and strong cash flow as our teams performed well and we benefited from recent actions to improve margins.

We are pleased with the strong finish to the fiscal year as our fourth quarter margin performance exceeded expectations driven by strong execution across our businesses.

We delivered strong first quarter results, and more importantly we have already begun taking decisive actions to strengthen execution and accountability across the company, which will enhance results over the longer term.

Brunswick delivered an excellent start to 2026, building on the market recovery in the second half of last year, with first quarter results ahead of expectations and prior year despite the dynamic geopolitical and tariff environment.

We acted decisively to address pricing and costs in the face of rapid deterioration in macroeconomic conditions. Now, with Section 232 changes in favor of domestic manufacturers, Whirlpool Corporation is structurally positioned to win with our American-made products.

In aggregate, first quarter sales were in line with our expectations, and restructuring actions implemented over the past two years continued to deliver EBIT benefits, reflecting continued progress in structurally improving our earnings profile.

This is our first back-to-back positive comp performance since 2024, achieved despite two major winter storms and a deterioration in consumer sentiment following the escalation of conflict in the Middle East.

Encouraging momentum in key end markets supported solid demand for both Allison business units in the first quarter. Despite ongoing geopolitical uncertainty, we will look to capitalize on further improvement in end markets conditions throughout the year.

We're pleased with our first quarter results, which reflect actions we've taken to drive demand and improve dealer health. We saw a 14% increase in retail performance in North America, which drove global retail sales growth of 8%

In Q3 we made great progress on deepening our relationships with our Members, growing our opportunities to reach new Members globally, diversifying our revenue streams, and planting new seeds for future growth.

Contract sales and Adjusted EBITDA were lower in the first quarter, consistent with how we expected the year to unfold, and we expect second quarter contract sales to increase 4% to 8% and Adjusted EBITDA to be $187 million to $202 million.

Choice Hotels delivered first-quarter financial results in line with expectations, with key operating indicators signaling an inflection point in underlying trends.

Against the backdrop of continued macro uncertainty we have delivered a solid first quarter performance, generating an Adjusted EBITDA¹ of $1,076 million.