Qnity Electronics, Inc. (Q) · Nov 4, 2026 · Earnings

Qnity earnings beat as 2026 guidance jumps on AI demand

Beat — Adjusted EPS $1.46 vs ~$1.20 consensus

Qnity’s Q3 earnings beat expectations, with adjusted EPS up 55% and another sharp increase to 2026 guidance.

Qnity is a newly independent semiconductor-materials and interconnect supplier, targeting AI, high-performance computing and advanced connectivity demand across two segments. Its prior quarter had already shown 22% sales growth and a raised 2026 outlook, so the question was whether that momentum was accelerating or merely holding.

The quarter beat a high-growth expectation, not just an easy comparison. Q3 sales rose 22% year over year to $1.556 billion, ahead of published estimates around $1.49–$1.52 billion, while adjusted EPS of $1.46 was well above consensus near $1.20–$1.23. Both businesses contributed: Semiconductor Technologies sales grew 15% organically and Interconnect Solutions grew 29% organically. (Financial Results Summary; Net Sales Variance by Segment and Geographic Region)

Metric	Q3 2026	Q3 2025	Consensus / prior guidance
Net sales (Financial Results Summary)	$1,556M (+21.9%)	$1,276M	~$1,490–$1,520M
Adjusted Operating EBITDA (Financial Results Summary)	$503M (+35.9%)	$370M	—
Adjusted EPS (Financial Results Summary)	$1.46 (+55.3%)	$0.94	~$1.20–$1.23
GAAP diluted EPS (Financial Results Summary)	$0.87 (-13.9%)	$1.01	—
FY26 net sales guidance (Guidance for Full Year 2026)	$5.77B–$5.83B	—	$5.55B–$5.65B prior
FY26 adjusted EPS guidance (Guidance for Full Year 2026)	$4.95–$5.05	—	$4.40–$4.60 prior
FY26 adjusted free cash flow guidance (Guidance for Full Year 2026)	$800M–$900M	—	$600M–$700M prior

The more important signal is the second guidance increase. Qnity lifted the full-year sales, EBITDA, adjusted EPS and free-cash-flow ranges above the guidance raised after Q2. The scale is meaningful: the midpoint of adjusted EPS guidance rose about 10%, while the free-cash-flow midpoint rose about 31%. That changes the story from “strong post-spin growth” to “strong growth with operating leverage and cash generation arriving faster than previously expected.” The prior Q2 guidance and business trajectory support this as a genuine upgrade rather than a routine confirmation.

Underlying margins improved even as separation costs remained heavy. Adjusted EBITDA margin expanded to 32.3% from 29.9%, and gross margin rose to 47.8% from 45.1%. GAAP profit still fell because interest expense increased to $64 million from $14 million and transformation, integration and other charges rose to $53 million from $1 million. The filing identifies about $35 million of Q3 charges tied to information-technology independence, meaning the reported earnings drag is largely connected to the still-unfinished stand-alone transition rather than weaker operating demand.

Cash conversion is improving on an adjusted basis, but the headline GAAP cash flow is softer. Nine-month operating cash flow declined to $647 million from $782 million, reflecting working-capital investment and higher capital expenditures. After excluding separation and transformation-related cash costs, adjusted free cash flow rose to $607 million from $568 million, and management now expects $800 million–$900 million for the full year. This supports the upgraded outlook, although it also shows that part of the improvement still depends on management’s adjustments for costs associated with becoming independent.

Bottom line: Qnity delivered a genuine earnings beat and raised every major 2026 operating target again. The filing materially strengthens the company’s growth-and-execution story, even though GAAP earnings and cash flow remain weighed down by spin-off and stand-alone costs.

What to watch next

Q4 2026 results and initial 2027 outlook

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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Qnity earnings beat as 2026 guidance jumps on AI demand

What to watch next

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