Arcus Biosciences, Inc. (RCUS) · Nov 4, 2026 · Earnings

Arcus Biosciences earnings lift 2026 revenue guide as EPS misses

In line — Revenue $9M vs ~$7.6M consensus; EPS $(1.00) vs $(0.89) consensus

Arcus Biosciences earnings show casdatifan moving toward pivotal trials, a higher 2026 revenue floor and funding into 2029—offset by an EPS miss.

Arcus is a clinical-stage oncology biotech increasingly organized around casdatifan, its HIF-2α inhibitor for kidney cancer, with the business shifting resources away from older programs and toward a broad Phase 3 push across treatment lines. Its prior-quarter plan already called for second-half casdatifan data and a cash runway extending at least into 2028, so much of the strategic direction was established before this filing.

The quarter is mixed rather than a clean beat. Revenue of $9 million exceeded the roughly $7.6 million published consensus, but the $1.00 per-share loss was worse than the approximately $0.89 expected loss. Revenue also fell sharply year over year as Gilead-related work winds down, which makes the headline revenue beat less important than the underlying transition.

Figure	Q3 2026	Q3 2025	Consensus / prior guide
Revenue (Financial Results)	$9M	$26M	~$7.6M
Net loss per share (Financial Results)	$(1.00)	$(1.27)	$(0.89)
R&D expense (Financial Results)	$117M	$141M
Cash and marketable securities (Balance Sheet)	$694M	$1,010M
FY2026 revenue guidance (Financial Results)	$70M–$75M		$65M–$75M

The more meaningful financial change is a modestly better funding outlook. Arcus raised the bottom end of its full-year revenue range from $65 million to $70 million, while the October equity financing adds $288 million of gross proceeds. That extends the stated operating runway into 2029, reducing near-term financing pressure while the company funds casdatifan’s pivotal studies.

Operationally, the casdatifan story is advancing on schedule, but the evidence is still clinical-stage evidence. PEAK-1 enrollment is expected to finish within two to three months, and PEAK-20 remains targeted to start by year-end 2026. The October data across first-, second- and late-line kidney cancer support the company’s backbone-therapy strategy, but the filing itself notes that the comparisons rely on external benchmarks rather than head-to-head trials; the next value-bearing step is converting these signals into randomized Phase 3 outcomes. 〔0〕

The cost base is being redirected, not structurally eliminated. R&D spending declined as domvanalimab studies wound down and operating efficiencies took hold, but Arcus says rising investment in casdatifan and immunology programs should keep expenses broadly consistent near term. That means the larger cash balance buys time for execution rather than marking a move toward profitability. 〔1〕

Bottom line: This is a modestly constructive update to Arcus’s clinical-development story: funding is secure longer and the pivotal casdatifan path remains on schedule, but the quarter itself is mixed and does not materially de-risk the eventual trial outcomes.

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PEAK-1 enrollment completion, expected in the next two to three months

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

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Arcus Biosciences earnings lift 2026 revenue guide as EPS misses

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