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Research Alert: Align Technology: International Clear Aligner Volumes Support Q1 Sales, Eps Beat

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-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

ALGN delivered solid Q1 2026 results with revenues of $1.04B, up 6.2% Y/Y, above consensus, while adjusted EPS of $2.58 beat estimates by $0.29. Clear Aligner volumes rose 6.7% to 685.7k cases, with foreign exchange providing a $44.9M tailwind, though underlying constant currency growth was 2.6%. We view broad-based growth across customer segments positively, with orthodontist shipments up 7.4% and GP dentist volumes increasing 5.6%. The company is supported by a strong balance sheet with $1.06B in cash. Management reaffirmed full-year 2026 guidance for 3-4% revenue growth with mid-single digit Clear Aligner volume growth and non-GAAP operating margin of ~23.7%. Adjusted operating margin expanded 240 bps to 21.5%, reflecting restructuring benefits that should continue supporting profitability improvements. The company completed a $200M share repurchase and announced an additional $200M buyback starting May 2026, demonstrating shareholder-friendly capital allocation, in our view.

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Research Alert: Allstate: Underwriting Strength Fuels Significant Q1 Eps Beat

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:ALL reported Q1 operating EPS of $10.65 vs. $3.53 in the prior year, topping our $6.85 estimate and the $7.24 consensus forecast. The strong results were led by improved underwriting performance. Q1 revenue growth of 3% was below our 4%-8% forecast, though P-C earned premiums rose 5.5%. The combined ratio improved to 82.0% from 97.4% on 44% lower catastrophe losses. The underlying combined ratio (ex-catastrophes) improved to 80.3% from 83.1%, validating the success of previous rate increases. The recent $2B sale of the employer voluntary benefits business, part of ALL's broader restructuring strategy, will free up capital for redeployment into core P-C operations. We expect ALL to maintain pricing discipline despite anticipated increased competition, particularly in auto insurance. The company's strong underlying underwriting results demonstrate the success of aggressive rate increases that were implemented to address adverse claim trends. We look forward to management's pricing outlook on the April 30 call.

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