EPS Growth Outpaces SG&A Expansion
Basic and diluted EPS improved 22.2% YoY to $0.77 from $0.63, while SG&A expenses were nearly flat at $150M (up just 0.7% YoY), suggesting improved operational efficiency or favorable product mix drove bottom-line gains.
Balance Sheet Expansion with Rising Liabilities
Total assets grew 9.6% YoY to $19.77B, driven largely by a 23.4% surge in current assets to $6.22B and a 62.6% jump in cash to $730M. However, total liabilities rose faster at 13.5% to $14.15B, indicating debt-funded growth.
Sharply Reduced Share Buyback Activity
Share repurchases fell 99.8% YoY to just $1M in Q1 2026 versus $555M in Q1 2025, with the company instead relying on $605M in financing cash inflows (up 52.8% YoY), suggesting capital is being preserved or redeployed toward debt management.