Beacon Financial Corp (BBT) · Oct 21, 2026 · Earnings

Beacon Financial earnings miss as credit losses rise

Miss — Operating EPS $0.77 vs ~$0.81 consensus

Beacon Financial’s Q3 earnings missed consensus as higher net interest income was offset by rising credit costs, weaker loans and worsening CRE metrics.

Beacon is a post-merger regional bank still converting scale into better efficiency, funding and loan growth; Sean Gray became CEO on September 21, 2026, with management emphasizing execution and merger synergies. The quarter missed the market’s operating-profit bar. Published consensus was about $0.81 of adjusted EPS and $226.6 million of revenue; Beacon delivered $0.77 of operating EPS and roughly $223.1 million of total revenue.

Metric	Q3 2026	Prior quarter / comparison	Read
GAAP EPS	$0.73 (Income Statement)	$0.77 in Q2 (Income Statement)	Down sequentially
Operating EPS	$0.77 (Non-GAAP reconciliation)	$0.77 in Q2; ~$0.81 consensus	Miss
Net interest income	$197.2M (Income Statement)	$193.2M in Q2	Improving
Net interest margin	3.85% (Selected Financial Highlights)	3.81% in Q2	Improving
Provision for credit losses	$8.9M (Income Statement)	$5.0M in Q2	Deteriorating
Total loans	$17.7B (Balance Sheet)	$17.8B in Q2	Contracting
Nonperforming assets	$163.1M / 0.75% of assets (Asset Quality Analysis)	$155.2M / 0.70% in Q2	Worsening
Stock-repurchase authorization	$125M (Stock Repurchase)	Existing authorization increased	Capital-return support
Quarterly dividend	$0.3225 per share (Dividend Declared)	$0.3225 in Q2	Unchanged

Core banking income improved, but not enough to offset credit and restructuring pressure. Net interest income rose $3.9 million and margin expanded four basis points, showing better spread economics. But the provision for credit losses jumped to $8.9 million from $5.0 million as three larger commercial real-estate loans deteriorated, while $5.1 million of restructuring expense also weighed on reported earnings.

The more important weakness is the balance-sheet direction. Loans fell $169.8 million sequentially, with commercial real estate, consumer and equipment-financing balances declining; deposits also fell $303.3 million, including a $120 million decline in customer deposits, partly offset by higher brokered deposits. That makes the company’s stated goal of growing core funding and disciplined loan growth an execution issue rather than a completed turnaround.

Credit risk is moving in the wrong direction even though charge-offs eased slightly. Nonperforming assets increased to $163.1 million from $155.2 million, driven largely by two CRE deals, and nonperforming loans rose to 0.91% of loans from 0.86%. Net charge-offs declined to 30 basis points from 32 basis points, but the higher provision and rising CRE nonaccruals suggest the credit cleanup is still active rather than finished. 〔0〕

The buyback is a meaningful capital-allocation signal, not an earnings fix. The board added $75 million to bring the authorization to $125 million, supported by a 14.6% preliminary total risk-based-capital ratio and 9.4% tangible common equity ratio (Investor Presentation, Capital Strength). The authorization is subject to regulatory approval, so it improves the capital-return framework but does not immediately repair weak loan growth or credit trends.

Bottom line: Beacon’s margin is improving, but the quarter shows that credit costs, shrinking loans and deposit pressure are still outrunning the operational recovery. The larger buyback helps the capital story, but this was a miss against expectations and a setback for the bank’s near-term turnaround narrative.

What to watch next

Q3 earnings call, October 22, 2026

Original filing on SEC EDGAR

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AllSight · BlackBerry Q2 FY27

Revenue $163.3M vs ~$144M expected; adjusted basic EPS $0.07 vs ~$0.04 consensus — a real upside surprise.Income statement
QNX revenue +27% to $80.3M; segment EBITDA $29.0M from $20.5M. “Record performance… core automotive.”Segment — QNX
Licensing jumped to $22.1M from $6.6M — it amplified the beat, but it's less recurring than QNX, so the quality sits in QNX.Segment — Licensing
FY27 guide lifted to $616–636M rev / $141–158M EBITDA, above the prior $594–621M / $119–139M framework.Guidance
QNX growth, margins, cash and a raised outlook all beat. But licensing amplified it and Secure Comms is flat — net retention 91% from 93%.Segment — Secure Comms

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Events/ANDE/8-K · Earnings

8-K · Item 2.02 · Earnings

The Andersons — a record Renewables quarter that beat profit expectations

Filed Aug 3, 2026ANDE · NASDAQ

AllSight readBeatPriced in▲ 1.8% since filed · reaction agrees

adj. EPS $2.15 vs ~$1.48 consensus

This filing tests whether The Andersons' sharp profit increase reflects broad operating improvement or a one-off renewable-fuels boost. It also separates strong adjusted earnings and cash generation from the quarter's legal and impairment charges.

The quarter was substantially stronger than both last year and the published earnings expectation. Adjusted EPS reached $2.15, versus $0.24 a year earlier and above the published consensus of about $1.48; reported EPS was $1.65. Adjusted EBITDA more than doubled to $140 million, while sales slipped modestly — the improvement came from margins and operating performance rather than higher revenue. Financial Highlights · Statements of Operations

Q2 ($M, exc. per-share)	Q2 2026	Q2 2025	YoY
Sales & merchandising revenue	3,097.7	3,135.9	−1%
Net income (attributable)	56.6	7.9	+48.7
Diluted EPS	1.65	0.23	+1.42
Adjusted EPS	2.15	0.24	+1.91
Adjusted EBITDA	140.3	65.2	+75.1
Agribusiness adj. pretax	20.3	16.8	+3.5
Renewables adj. pretax	88.4	9.6	+78.8
Cash from operations	487.9	299.3	+188.6
Cash from ops (pre-WC)	112.9	42.9	+70.1

Renewables drove nearly all of the upside — the operating backdrop was strong, but the result also benefited materially from tax credits. Renewables' adjusted pretax income rose to $88 million on record production, stronger ethanol margins and merchandising gains. It also received $24 million of 45Z producer tax credits, so this was not solely a repeatable plant-margin improvement; the company did cite healthy export and domestic ethanol demand as supportive. Renewables — Record Q2 · Segment Data

Agribusiness improved, but it was a supporting contributor rather than the main earnings engine. Adjusted pretax income increased to $20 million as fertilizer margins improved and merchandising benefited from commodity-price volatility, despite lower fertilizer volumes. Agribusiness — Improved Q2 · Segment Data

Cash generation improved and funding capacity is comfortable, while reported earnings still absorbed meaningful non-core costs. Operating cash flow was $488 million ($113 million before working-capital changes); capital spending was $76 million. Adjusted EPS excludes $0.50 of legal-settlement, impairment and transaction items, so the $2.15 adjusted result runs ahead of the $1.65 reported. Leverage stays below the <2.5× debt-to-EBITDA target; no new quantified full-year outlook was given. Cash & Liquidity · Adjusted Net Income

Community sentiment · 612 votes

58% bullish

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Beacon Financial earnings miss as credit losses rise

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