Loomis Interim Report January - June 2026

JP Morgan Asset Management Holdings acquired a 5% stake in Loomis AB, a Sweden-based cash management company, on October 13, owning 3.35m shares. Loomis provides cash handling services to various sectors globally. The company operates in multiple countries and has over 200 cash processing centers.

Loomis has finalized its acquisition of 99.80% of Hermes Transportes Blindados for approximately $297 million. Hermes, a Peru-based security logistics firm, will be integrated into Loomis' Europe and Latin America segment. The deal strengthens Loomis' presence in Latin America and was financed through a bond issuance.

Citigroup Inc. settled a trade-loss lawsuit brought by Loomis, Sayles & Co. over alleged execution of orders that caused more than $70 million in losses, according to court filings. The parties told a federal judge they will drop the case without refiling and did not disclose settlement terms. The suit involved Citi as broker for trades in Shopify and Colgate-Palmolive.

Comfort Systems USA (FIX) reported Q3 2026 earnings, with record bookings driven by new and existing customers. Gross margins declined due to higher equipment/materials costs and purchase accounting adjustments. Backlog duration extended to 18-24 months, potentially delaying revenue recognition. Labor constraints and high acquisition pricing were noted. The company expects margin normalization in early 2027 and remains cautious about adding new programmatic modular customers.

Autoliv Inc (ALV) reported Q3 2026 adjusted operating margin of 9.7%, exceeding expectations despite a 1.9% global light vehicle production decline. Sales grew in Asia, with strong cash flow and shareholder returns. The company expects Q4 margin expansion but narrowed full-year margin guidance to around 10.5% due to cost pressures. Raw material and logistics costs negatively impacted margins, with challenges expected to persist into 2027.

WSFS Financial reported Q3 2026 earnings with broad-based growth in trust services, including 45% and 48% year-over-year increases in Corporate Trust and Global Capital Markets. Personal Trust grew 22%, and Private Wealth rose 14%. Cash Connect fees declined due to interest rate cuts but maintained a 15% profit margin. Loans grew 1% linked quarter, with commercial and consumer segments showing strength. Deposits decreased 3% linked quarter, but average core deposits rose 10% year-over-year.