ALV

A month has gone by since the last earnings report for QuantumScape Corporation (QS). Shares have added about 13.1% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is QuantumScape due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. QuantumScape reported a loss of 16 cents per share for the first quarter of 2026, narrower than the Zacks Consensus Estimate of a loss of 18 cents. It delivered an earnings surprise of 11.1%.The quarter also showed improving year-over-year performance, with loss per share narrowing from 21 cents in the year-ago period. Operationally, the company reported progress in ramping up the Eagle Line, with early production underway and ongoing efforts to enhance efficiency and output.QuantumScape remains a development-stage company with no GAAP revenues to date. Operating expenses fell to $109.2 million, and net loss narrowed to $100.8 million. QuantumScape reiterated that EV development remains its core focus and primary source of customer activity. The company continues to work closely with Volkswagen Group’s PowerCo as it advances its automotive commercialization roadmap, with the next phase focused on field testing under real-world conditions to drive iteration.Beyond Volkswagen, the company shipped cells to an automotive joint development agreement partner for testing during the first quarter. QuantumScape also reported completing a technology evaluation with another top-10 global automotive OEM, which included hands-on engineering work and competitive benchmarking, and the engagement is now progressing into joint development activities. QS described its ecosystem strategy as a key part of keeping costs low while scaling up. Instead of building everything itself, it partners with others to expand production of its solid ceramic separators. The company is working with Murata Manufacturing and Corning to scale up separator production using its Cobra process, with ongoing technical collaboration.A notable milestone this quarter was the company’s first customer billings from partners, totaling $11 million. The company noted that partners are investing in QS-specific equipment and systems, demonstrating...

Oshkosh Corporation OSK posted first-quarter 2026 adjusted earnings of 85 cents per share, down 55.7% year over year. The figure missed the Zacks Consensus Estimate of $1.04 by 18.53%. Revenues edged up 0.2% year over year to $2,318 million but missed the Zacks Consensus Estimate of $2,324 million by 0.27%. Results were impacted by weaker profitability in the Access and Vocational segments, caused by an unfavorable sales mix, higher manufacturing overhead costs, and price-cost pressures. The company ended the quarter with a total backlog of $14.54 billion, highlighting strong demand visibility across its business. Oshkosh Corporation price-consensus-eps-surprise-chart | Oshkosh Corporation Quote While sales were essentially flat, OSK’s profitability weakened significantly from last year. Consolidated operating income dropped 53.2% year over year to $82 million, while operating margin narrowed to 3.5% from 7.6% a year ago. Adjusted operating income in the first quarter of 2026 fell 49.8% to $96.3 million, with adjusted operating margin declining to 4.2% from 8.3% in the prior-year quarter. The decline was mainly due to an unfavorable sales mix, higher manufacturing overhead costs, and lower sales volume. Better pricing and favorable currency impact helped offset some of the pressure on revenues. The quarter also included contract-related adjustments that affected sales figures. Oshkosh’s Access segment reported first-quarter 2026 sales of $943.4 million, down 1.4% year over year, as lower sales volume outweighed the benefit from favorable currency movement. Profitability also declined sharply, with adjusted operating income falling to $38.8 million (down 64% year over year) and adjusted operating margin dropping to 4.1% from 11.3% a year ago. The segment was hurt by an unfavorable sales mix and pricing pressures that weighed on profitability. Despite the near-term weakness, Access backlog rose 1.9% year over year to $1.84 billion at the end of the quarter, providing solid revenue visibility going forward. OSK’s Vocational segment reported first-quarter 2026 sales of $825 million, down 4.8% from the year-ago period, as weaker sales volume outweighed the gains from improved pricing. Adjusted operating income fell 26.9% year over year to $94.1 million, while adjusted operating margin declined to 11.4% from 14.9% a year earlier. Fire truck production improved yea...

The Goodyear Tire & Rubber Company GT incurred an adjusted loss of 39 cents per share in the first quarter of 2026, narrower than the Zacks Consensus Estimate of a loss of 49 cents. The company delivered a 19.72% earnings surprise, though the figure deteriorated from the year-ago quarter’s adjusted loss of 4 cents per share. Net sales were $3.88 billion, down 8.8% year over year but slightly above the Zacks Consensus Estimate of $3.86 billion, representing a 0.49% revenue surprise. Tire unit volumes fell 11.6% to 34 million, reflecting weaker demand and lower shipments to customers. The Goodyear Tire & Rubber Company price-consensus-eps-surprise-chart | The Goodyear Tire & Rubber Company Quote Total segment operating income fell to $95 million from $195 million a year ago due to weaker demand and higher costs. The company faced pressure from lower sales volumes and inflation-related expenses, though some of the impact was offset by price increases and better operational execution. The quarter was supported by a $46 million IEEPA tariff-related benefit and $107 million in savings from the Goodyear Forward program. Better pricing and product mix relative to raw material costs also helped, but these gains were not enough to fully offset the impact of weaker sales volumes and higher overall costs. GT’s Americas segment reported net sales of $2.06 billion, down 17.5% year over year, while tire unit volumes declined 17% to 15.3 million. Results were hurt by weaker consumer replacement demand, channel destocking, tougher competition and the planned reduction of lower-tier products. Segment operating income in the region fell to $37 million from $155 million a year ago, while margin narrowed to 1.8% from 6.2%. Profitability was hurt by weaker market conditions and higher costs, with savings from the Goodyear Forward program and pricing actions only partially offsetting the pressure. Goodyear’s EMEA business performed relatively better, with sales rising 6.7% year over year to $1.36 billion even though tire volumes fell 8.5% to 11.2 million units. Higher prices, a better product mix and favorable currency impact helped offset weak market demand and lower sales of lower-tier products. Segment operating income improved to $1 million from a loss of $5 million a year ago, lifting margin to 0.1% from negative 0.4%. The region also continued to gain market share in origina...

STOCKHOLM, May 8, 2026 /PRNewswire/ -- Autoliv, Inc., (NYSE: ALV and SSE: ALIV.sdb), the worldwide leader in automotive safety systems, today announced the results of its annual general meeting of stockholders held on May 7, 2026. Annual General Meeting of Stockholders The Company's 2026 Annual General Meeting of Stockholders (AGM) voted for approval of the following proposals: The election of Mikael Bratt, Laurie Brlas, Jan Carlson, Leif Johansson, Adriana Karaboutis, Fr￩d￩ric Lissalde, Xiaozhi Liu, Gustav Lundgren, and Thaddeus "Ted" Senko as directors of the Board for a one-year term ending at the 2027 AGM; The non-binding, advisory resolution to approve the Company's 2025 executive compensation for its named executive officers; and The ratification of the appointment of Ernst & Young AB as the Company's independent auditing firm for the fiscal year ending December 31, 2026. Committees of the Board At the Board meeting, the Board approved the membership of its standing committees as follows: Audit, Risk, and Compliance Committee: Ted Senko (Chair), Laurie Brlas, Adriana Karaboutis, and Gustav Lundgren Leadership Development and Compensation Committee: Fr￩d￩ric Lissalde (Chair), Leif Johansson, and Xiaozhi Liu Nominating and Corporate Governance Committee: Leif Johansson (Chair), Laurie Brlas, and Fr￩d￩ric Lissalde Chairman The Board resolved that Jan Carlson continues to serve as the Chairman of the Board. Inquiries: Investors & Analysts: Anders Trapp, Tel +46 (0)8 587 206 71 Investors & Analysts: Henrik Kaar, Tel +46 (0)8 587 206 14 Media: Gabriella Etemad, Tel +46 (70) 612 64 24 About Autoliv Autoliv, Inc. (NYSE: ALV; Nasdaq Stockholm: ALIV.sdb) is the worldwide leader in automotive safety systems. Through our group companies, we develop, manufacture and market protective systems, such as airbags, seatbelts, and steering wheels for all major automotive manufacturers in the world, as well as mobility safety solutions, such as commercial vehicles and electrical safety solutions. At Autoliv, we challenge and re-define the standards of mobility safety to sustainably deliver leading solutions. In 2025, our products saved approximately 40,000 lives and reduced around 600,000 injuries. We have operations in 25 countries, and we drive innovation, research, and development at our 13 technical centers. Our 64,000 employees are passionate about our vision of Savin...

AUBURN HILLS, Mich., May 7, 2026 /PRNewswire/ -- Autoliv, Inc. (NYSE: ALV) (SSE: ALIV.sdb), the worldwide leader in automotive safety systems, today announced that its Board of Directors has declared a quarterly dividend of 87 cents for the second quarter of 2026. To holders of record on the close of business on Wednesday, May 20, the dividend will be payable on: Monday, June 8, 2026 to holders of Autoliv common stock listed on the New York Stock Exchange (Common Stock); and Tuesday, June 9, 2026 to holders of Autoliv Swedish Depository Receipts listed on Nasdaq Stockholm (SDRs). The ex-date will be: Wednesday, May 20, for holders of Common Stock; and Tuesday, May 19, for holders of SDRs. Inquiries: Investors & Analysts: Anders Trapp, Tel +46 (0)709 578 170 Investors & Analysts: Henrik Kaar, Tel +46 (0)709 578 114 Media: Gabriella Etemad, Tel +46 (0)706 126 424 This information is information that Autoliv, Inc. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by Henrik Kaar at 4:10 p.m. ET on May 6, 2026. About Autoliv Autoliv, Inc. (NYSE: ALV; Nasdaq Stockholm: ALIV.sdb) is the worldwide leader in automotive safety systems. Through our group companies, we develop, manufacture and market protective systems, such as airbags, seatbelts, and steering wheels for all major automotive manufacturers in the world, as well as mobility safety solutions, such as commercial vehicles and electrical safety solutions. At Autoliv, we challenge and re-define the standards of mobility safety to sustainably deliver leading solutions. In 2025, our products saved approximately 40,000 lives and reduced around 600,000 injuries. We have operations in 25 countries, and we drive innovation, research, and development at our 13 technical centers. Our 64,000 employees are passionate about our vision of Saving More Lives and quality is at the heart of everything we do. Sales in 2025 amounted to $10.8 billion. For more information go towww.autoliv.com. Safe Harbor Statement This report contains statements that are not historical facts but rather forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those that address activities, events or developments that Autoliv, Inc. or its management believes or anticipates may occur in the future....

BorgWarner Inc. BWA delivered adjusted earnings of $1.24 per share in the first quarter of 2026, beating the Zacks Consensus Estimate of $1.16 by 6.83%. Revenues of $3.53 billion topped the Zacks Consensus Estimate of $3.47 billion by 1.74% and increased 0.5% year over year. While reported sales benefited from stronger foreign currencies, organic net sales fell 4.2% from the year-ago quarter’s level. Disciplined cost controls and the exit of the charging business helped support profitability in a softer production environment. BorgWarner Inc. price-consensus-eps-surprise-chart | BorgWarner Inc. Quote Profits improved even though sales volumes were weak. On a U.S. GAAP basis, operating margin increased to 9.5% from 6.7% a year ago, while operating income rose from $237 million to $336 million. Gross margin also improved to 19.2% from 18.2%, aided by higher gross profit. On an adjusted basis, operating margin reached 10.5%, up 50 basis points year over year, while adjusted operating income increased to $372 million from $352 million. Favorable currency movements, along with ongoing productivity gains and restructuring efforts, helped boost adjusted operating income compared with last year. Turbos & Thermal Technologies revenues declined 1.4% year over year to $1.43 billion, while segment adjusted operating income dropped to $214 million from $235 million. The decline was mainly due to weaker demand for some core thermal products, partially offset by currency tailwinds. Drivetrain & Morse Systems continued to be a steadier contributor, with sales rising 4.5% to $1.42 billion and segment adjusted operating income improving to $260 million from $243 million. PowerDrive Systems posted revenues of $587 million, up 4.6%. However, the segment still posted a loss, though it narrowed to $36 million from $43 million last year. Battery Energy Systems sales dropped to $102 million from $150 million. However, the segment’s loss improved significantly, narrowing to $2 million from $22 million last year. The company won 12 new business deals across different regions and products, including turbochargers, dual-clutch, variable cam timing systems, controllers for off-highway vehicles, electric motors and thermal systems for commercial vehicles. Many of these projects are expected to start production between 2026 and 2029, which should help support its long-term growth and prof...

Allison Transmission Holdings Inc. ALSN reported first-quarter 2026 adjusted earnings of $2.57 per share, which beat the Zacks Consensus Estimate of $2.54 by 1.38% and increased 6% year over year. Quarterly revenues of $1.41 billion rose 84% from the year-ago quarter’s level and topped the Zacks Consensus Estimate of $1.38 billion by 2.15%. The quarter marked the first to include the Allison Off-Highway business, acquired on Jan. 1, 2026, from Dana Incorporated. Integration efforts are progressing, with approximately $120 million in expected annual cost savings. Adjusted EBITDA margin for the quarter was 26%. Allison Transmission Holdings, Inc. price-consensus-eps-surprise-chart | Allison Transmission Holdings, Inc. Quote Profitability was impacted by one-time costs tied to the Off-Highway acquisition. Results were weighed down by approximately $76 million in acquisition-related expenses, primarily caused by higher inventory costs and incremental depreciation from revalued assets such as property, plant and equipment. These factors weighed on the bottom line. Net income was $112 million, with diluted earnings of $1.33 per share. The year-over-year decline in net income was largely attributable to acquisition-related costs and higher interest expenses, partially offset by lower income taxes. Operating expenses rose as the company integrated the new business. Selling, general and administrative expenses amounted to $157 million, up $70 million from the prior-year period’s level. The increase was mainly due to the addition of the Off-Highway unit, including $21 million in amortization related to intangible assets and about $17 million in one-time acquisition-related integration costs. Engineering, research and development expense totaled $54 million, up $12 million year over year. The increase was mainly due to the addition of the Off-Highway business, partly offset by lower spending on product-initiatives in the legacy Allison Transmission unit. The legacy Allison Transmission business reported net sales of $733 million, down 4% year over year, mainly due to lower volumes and higher material costs. This was partly offset by price increases on certain products. Segment operating profit amounted to $252 million, representing a strong 34% of net sales. Within the Transmission unit, results were mixed across different markets. North America on-highway sales totale...

Magna International Inc. MGA reported first-quarter 2026 adjusted earnings of $1.38 per share, which increased 76.9% year over year and beat the Zacks Consensus Estimate of $1.01 by 36.19%. Net sales rose 3.1% year over year to $10.38 billion and topped the Zacks Consensus Estimate of $10.08 billion by 3.03%. The quarter’s backdrop remained challenging, as global light vehicle production fell 7%, yet strong execution supported profitability gains and solid cash generation. Magna International Inc. price-consensus-eps-surprise-chart | Magna International Inc. Quote MGA’s top line reflected a mix of tailwinds and offsets. A stronger foreign currency environment against the U.S. dollar helped boost results. At the same time, growth was supported by new program launches compared to last year, including complete vehicle programs with higher value-added contracts. These positives were partly offset by a few challenges. Some programs ended, vehicle production declined in North America, Europe and China, and volumes in complete vehicle assembly dropped under certain contracts. The company also saw lower engineering revenues in its Complete Vehicles segment. Customer price concessions added further pressure compared to last year. Magna’s margin profile improved meaningfully in the quarter. Adjusted EBIT increased 57.6% year over year to $558 million, and adjusted EBIT margin expanded 190 basis points to 5.4%, reflecting productivity and efficiency improvements and benefits from prior restructuring actions. Higher equity income, lower warranty costs, net transactional foreign exchange gains (versus losses last year) and favorable net commercial items supported performance. These drivers were partly offset by higher net tariff costs, reduced earnings on lower local currency sales (including engineering revenue) and an unfavorable product mix. Body Exteriors & Structures generated sales of $4.08 billion, up from $3.97 billion in the year-ago quarter, while adjusted EBIT rose to $274 million from $230 million. Power & Vision posted sales of $3.88 billion versus $3.65 billion a year ago, and adjusted EBIT jumped to $252 million from $124 million. Seating Systems sales increased to $1.34 billion from $1.31 billion, with the segment swinging to adjusted EBIT of $25 million from a loss of $30 million a year ago. The Complete Vehicles segment was the main drag on revenues, wi...

Lear Corporation LEA delivered first-quarter 2026 adjusted earnings of $3.87 per share, which increased 24% year over year and came above the Zacks Consensus Estimate of $3.44 by 12.55%. Net sales were $5.82 billion, which rose 4.7% from the year-ago quarter but slightly missed the Zacks Consensus Estimate of $5.86 billion by 0.61%. The results reflected improving profitability across both segments despite a softer production backdrop. Global vehicle production declined 3% year over year in the quarter, with the sharpest weakness seen in China. Lear Corporation price-consensus-eps-surprise-chart | Lear Corporation Quote Profitability improved meaningfully year over year, led by increased volume on the Lear platform. Core operating earnings increased to $297.3 million, lifting core operating margin to 5.1% of sales from 4.9% in the prior-year quarter. Special items had a smaller negative impact compared to last year, which helped boost earnings growth. Net income attributable to Lear jumped to $172.3 million from $80.7 million, while adjusted net income rose to $199.5 million from $169.3 million. Seating remained the larger business, with sales of $4.4 billion compared with $4.15 billion in the year-ago quarter. Higher volumes on key platforms and contributions from new business helped drive the year-over-year increase. Adjusted segment earnings amounted to $304.8 million, up from $279.9 million reported in the corresponding quarter of 2025. Margins improved alongside the revenue gain. Seating segment margin expanded to 6.3% from 5.2% a year ago, while adjusted segment margin improved to 6.9% from 6.7%, reflecting better operating performance. E-Systems revenues came in at $1.42 billion, slightly up from $1.41 billion a year earlier, indicating steady demand and ongoing program activity. The business continues to see traction in its core E-Systems products, along with new wins across wire and electronics content. Adjusted segment earnings amounted to $86.5 million, up from $73.8 million reported in the corresponding quarter of 2025. The bigger upside came through margins. The E-Systems segment margin increased to 5.2% from 3.9% in the prior-year quarter, and adjusted segment margin improved to 6.1% from 5.2%, signaling better execution and operating leverage. Europe and Africa led regional performance, with sales rising to $2.3 billion from $2.06 billion a ye...

O’Reilly Automotive, Inc. ORLY reported first-quarter 2026 adjusted earnings per share (EPS) of 72 cents, which beat the Zacks Consensus Estimate of 69 cents by 4.18%. The bottom line increased from 62 cents in the prior-year quarter. The automotive parts retailer registered quarterly revenues of $4.56 billion, which surpassed the Zacks Consensus Estimate of $4.47 billion by 2.1%. The top line also rose 10.2% year over year. The quarter was driven by strong demand, with comparable store sales rising 8.1%. Growth in both the professional and DIY segments, along with careful cost control, supported the overall performance. The company opened 59 stores in the United States, Mexico and Canada in the first quarter. The total store count was 6,644 as of March 31, 2026. O'Reilly Automotive, Inc. price-consensus-eps-surprise-chart | O'Reilly Automotive, Inc. Quote A key feature of the quarter was the continued weight of the professional service provider channel. Sales to professional customers were $2.29 billion, up from $2 billion a year ago, reflecting meaningful growth in the company’s higher-frequency commercial business. Do-it-yourself demand also contributed, with DIY sales of $2.19 billion versus $2.05 billion in the prior-year quarter. Other sales and adjustments were $79.6 million compared with $86.5 million last year, leaving the mix largely driven by the two core customer groups. O’Reilly translated the higher sales base into improved profit dollars. Gross profit increased to $2.35 billion, and gross margin held firm at 51.5% of sales versus 51.3% a year ago, indicating pricing and sourcing discipline despite a rising cost environment. Expense growth remained controlled relative to sales. Selling, general and administrative costs rose to $1.51 billion, but declined to 33% of sales from 33.4% last year. Operating income climbed to $841.6 million, with operating margin improving to 18.5% from 17.9%, underscoring a focus on productivity and prudent expense management. Cash generation was a standout. Net cash provided by operating activities was $1.03 billion in the quarter, up from $755.1 million in the year-ago period, supported by higher earnings and favorable working-capital movements. This strong cash generation supported an aggressive capital return program. Capital expenditures were $244.4 million, and free cash flow totaled $785.1 million. ORLY repurc...

Lithia Motors LAD posted first-quarter 2026 adjusted earnings of $7.34 per share, down 4% from $7.66 a year ago. However, the bottom line beat the Zacks Consensus Estimate of $7.06 by 4%. Quarterly revenues rose 1% year over year to $9.27 billion but came in below the Zacks Consensus Estimate of $9.36 billion by 0.9%. Operationally, Driveway Finance Corporation generated record originations of $840 million with an 18% penetration rate and an average FICO score of 750. Lithia Motors, Inc. price-consensus-eps-surprise-chart | Lithia Motors, Inc. Quote The quarter’s top-line mix showed clear relative strength in used vehicles and aftersales. Used vehicle revenues increased 7.3% year over year to $3,489.4 million, while aftersales revenues rose 6.1% to $1,042.9 million. Same-store trends were consistent with that mix shift. Same-store used vehicle revenues increased 4.6% to $3,302.0 million, and same-store aftersales revenues advanced 3.8% to $992.1 million, reflecting steady service demand from Lithia’s growing installed base. Those gains helped offset softer new-vehicle demand. New vehicle revenues declined 4.4% to $4,379.4 million, and finance and insurance revenues slipped 1.3% to $359.7 million, leaving total revenues modestly higher. Same-store new vehicle revenues fell 7.1% year over year, while same-store revenues from finance and insurance fell 3.8%. Volume data reinforced the quarter’s revenue pattern. New vehicle unit sales decreased 4.7% year over year to 94,787 units, while used retail unit sales increased 2.6% to 110,151 units. Pricing moved in opposite directions. Average selling price for new vehicles (excluding agency) edged down 0.7% to $46,878, whereas the used retail average selling price climbed 4.7% to $28,464. That combination of higher used pricing and used volumes supported the period’s used revenue growth. Profitability across major lines was mixed, with aftersales continuing to stand out. Aftersales gross margin improved 150 basis points year over year to 58.9%, while total gross profit increased 0.8% to $1,421.7 million. By contrast, vehicle margins narrowed. New-vehicle gross margin fell 50 basis points to 5.9%, and used-vehicle gross margin decreased 40 basis points to 5.4%. Average gross profit per new vehicle declined 7.2% to $2,739, and used retail gross profit per unit slipped 4.6% to $1,688, signaling a tougher margin backdrop...

PACCAR Inc PCAR delivered first-quarter 2026 earnings of $1.15 per share, beating the Zacks Consensus Estimate of $1.13 by 1.8%. The bottom line decreased 21.2% from $1.46 in the year-ago quarter. Consolidated revenues (including trucks and financial services) were $6.78 billion, down from $7.44 billion in the corresponding quarter of 2025. The decline reflected lower industry volumes. Sales from Truck, Parts and Other amounted to $6.23 billion. Global new truck deliveries totaled 33,100 units versus 40,100 a year ago. PACCAR Inc. price-consensus-eps-surprise-chart | PACCAR Inc. Quote By business line, Truck sales were $4.53 billion versus $5.23 billion a year ago. Parts revenues rose to $1.71 billion from $1.69 billion reported in the year-ago period. Financial Services revenues increased to $542.2 million from $528 million. PACCAR Sees Improving Demand in Key Markets The company expects a “positive inflection” in the U.S. and Canada truck market as freight rates improve amid reduced trucking capacity. For 2026, the company expects U.S. and Canada Class 8 industry retail sales in the range of 230,000-270,000 trucks. In Europe, PACCAR projected above 16-tonne registrations of 280,000-320,000 trucks in 2026, while the comparable South American market is expected to be 100,000-110,000 trucks. The company also pointed to product initiatives, including new DAF XD, XF, XG and XG+ Electric offerings and Kenworth’s newly unveiled C580 vocational truck, with production slated to begin in January 2027. PACCAR Parts continued to be a major profit contributor, generating pretax income of $402.3 million in the quarter compared with $426.5 million a year ago. The segment’s performance improved due to investments in parts distribution centers, TRP all-makes parts and logistics capabilities supporting a broad dealer and service footprint. PACCAR Truck's pre-tax income was $176.2 million, which decreased 51.7% year over year. PACCAR Financial Services delivered pretax income of $115.5 million versus $121.1 million in the year-ago quarter. The business ended the period with a portfolio of 221,000 trucks and trailers and total assets of $22.3 billion, while PacLease’s fleet was about 37,000 vehicles. The company issued $400 million in medium-term notes during the first quarter. Within Truck, Parts and Other, the cost of sales and revenues were $5.42 billion, while research an...