NEW YORK — Costco Wholesale Corp. (NASDAQ: COST) remains one of the most resilient retail investments in 2026, with analysts largely recommending shares as a Moderate Buy amid robust membership growth, digital sales momentum and ambitious warehouse expansion plans, even as the stock trades near all-time highs around $1,012.

As of early May 2026, Costco shares hover near $1,012, up modestly year-to-date but reflecting strong underlying fundamentals. Wall Street’s consensus leans bullish: 22 Buy ratings, 11 Hold and just 1 Sell among 34 analysts, with an average 12-month price target of approximately $1,046 to $1,078 — implying 3% to 7% upside from current levels. High-end targets reach $1,315.

Q2 2026 Earnings Strength

Costco delivered another solid quarter in fiscal Q2 2026 (ended February 15). Net sales rose 9.1% to $68.24 billion, while net income increased nearly 14% to $2.035 billion, or $4.58 per diluted share. Comparable sales grew 7.4%, with digitally-enabled sales surging 22.6%. Membership fee income climbed 13.6% to $1.355 billion, underscoring the power of its recurring revenue model.

Executive memberships reached a record 40.4 million, up 9.5%, while global renewal rates held steady near 90%. These metrics highlight exceptional customer loyalty even after the 2024 membership fee increase.

Growth Drivers in Focus

Costco continues its aggressive expansion, targeting 28 net new warehouses in fiscal 2026 and aiming for 30+ annually in coming years. The company now operates 924 locations worldwide and sees significant runway for growth in both domestic and international markets.

Digital initiatives are accelerating, with strong e-commerce performance complementing in-warehouse traffic. Value-focused strategies — including the iconic $1.50 hot dog combo and new prepared food offerings — continue attracting members amid economic pressures. Kirkland Signature products and partnerships, such as expanded Amy’s Kitchen items, further differentiate the brand.

Valuation Considerations

At roughly 52-53 times trailing earnings, Costco carries a premium valuation compared to peers like Walmart and broader retail. Some analysts caution that limited near-term upside exists at current levels, suggesting investors consider dollar-cost averaging on dips rather than lump-sum purchases. Forward P/E sits around 46-49, reflecting expectations of sustained mid-single-digit sales growth.

However, the company’s high-margin membership fees (nearly pure profit), fortress balance sheet and consistent execution justify much of the premium for long-term holders. Costco has delivered strong total returns over the past five years, and its model proves resilient across economic cycles.

Buy, Sell or Hold Verdict

For long-term investors: Costco remains a compelling Buy. Its membership flywheel, predictable revenue streams and exposure to consumer staples provide defensive qualities in uncertain times. Steady warehouse growth, digital acceleration and international potential support mid-to-high single-digit earnings growth for years ahead.

For short-term traders: The stock may appear fully valued or even slightly overvalued after recent gains. Waiting for pullbacks toward the $990-$1,005 range could offer better entry points.

Existing shareholders: Hold. The business continues performing well fundamentally, with no compelling reason to sell a high-quality compounder.

Risks to Watch

Potential tariff impacts, inflation pressures on margins and competition from Walmart and Amazon remain watchpoints. However, Costco’s pricing power, loyal base and operational efficiencies have historically helped navigate such challenges.

Outlook for Remainder of 2026

Analysts project continued top-line growth around 7-8% annually, supported by new store openings and same-store sales strength. Special dividends remain possible given strong cash flow, as seen in past years. Costco’s ability to raise membership fees periodically without significant churn adds another lever for profitability.

The company’s focus on value, quality and member experience positions it well in a retail landscape increasingly dominated by convenience and digital channels. As consumer preferences evolve toward trusted, bulk-value retailers, Costco’s model appears durable.

Investment Thesis Summary

Costco exemplifies a high-quality business with wide moats: brand loyalty, scale advantages and a membership-driven economic model that creates recurring revenue and pricing discipline. While the stock rarely trades cheap, patient investors have been rewarded handsomely over decades.

In 2026, with the stock trading near highs but backed by strong fundamentals and growth visibility, the consensus leans toward accumulation on weakness for long-term portfolios. Short-term volatility from macroeconomic or geopolitical events may create buying opportunities.

Whether building a new position or adding to an existing one, Costco offers a compelling combination of growth, defensiveness and shareholder returns that few retailers can match. As the company pushes toward 30+ annual warehouse openings and deeper digital integration, its trajectory remains upward for those with a multi-year horizon.

Online trading has transformed how investors access global markets. What once required brokers and large capital can now be done instantly from a laptop or phone. From crypto to forex, traders today expect speed, flexibility, and control.

As more platforms enter the space, the focus has shifted toward performance and reliability. This is where UKX Capital is starting to gain attention among UK-based traders.

What Is UKX Capital

UKX Capital is a multi-asset trading platform offering access to cryptocurrencies, forex, indices, and commodities. It’s built around fast execution and a simplified interface, aiming to support traders who want quick access to market opportunities without unnecessary complexity.

Range of Markets

The platform provides a solid mix of trading options:

• Cryptocurrencies (Bitcoin, Ethereum, altcoins)
• Forex pairs
• Indices
• Commodities

This allows users to diversify strategies while staying within one ecosystem.

Score: 9/10

Deposits and Withdrawals

UKX Capital focuses on making transactions smooth and efficient. Traders can expect:

• Straightforward deposit process
• Reasonably fast withdrawals
• Multiple payment options (depending on region)

Consistency in processing adds to overall trust in the platform.

Score: 8.8/10

Mobile Trading

Mobile trading is a key strength. The platform offers:

• Full functionality on mobile devices
• Real-time charting and execution
• Smooth navigation without lag

This makes it easy to stay connected to the markets at all times.

Score: 9.2/10

Fees

Fees are competitive compared to many modern platforms. While exact structures may vary, the focus is on:

• Tight spreads
• Transparent pricing
• No unnecessary hidden charges

This is particularly important for active traders who execute frequently.

Score: 8.7/10

Trading Platform

The platform itself is designed for efficiency:

• Clean and intuitive layout
• Fast order execution
• Easy switching between assets

It avoids clutter, which helps traders focus on decision-making rather than navigation.

Score: 9.1/10

Education

Educational resources are available but not the main focus. Users will find:

• Basic guides and onboarding support
• Limited advanced learning materials

This suggests the platform is more suited for users who already understand trading fundamentals.

Score: 8.5/10

Security

Security plays an important role in building trust. UKX Capital emphasizes:

• Secure account management
• Data protection measures
• Reliable platform infrastructure

While details may vary, the overall setup aims to provide a safe trading environment.

Score: 9/10

Support

Customer support is accessible and responsive:

• Assistance for account and trading issues
• Multiple contact options
• Reasonable response times

There is still room for faster response in peak periods.

Score: 8.6/10

Bottom Line

UKX Capital positions itself as a modern trading platform focused on speed, simplicity, and crypto accessibility. It performs strongly across key areas like execution, mobile trading, and market range.

While it may not offer deep educational content, it compensates with a streamlined experience that suits active traders.

Overall Score: 9/10

FAQ

Is UKX Capital suitable for UK traders?

Yes, it offers features and market access that align well with UK-based investors.

Can I trade crypto on UKX Capital?

Yes, crypto is a major part of the platform alongside other assets.

Are fees competitive?

Yes, fees are generally competitive with a focus on transparency.

Does it support mobile trading?

Yes, the mobile experience is one of its strongest features.

Is UKX Capital beginner-friendly?

It’s more suitable for traders who already have basic knowledge of trading.

A total of 17 West Country businesses were recognised in the categories of innovation, international trade and sustainability

A plant-based soap company, a cycling accessories designer and a special effects business are among the South West recipients of this year’s King’s Awards for Enterprise.

The annual awards celebrate the achievements of outstanding UK businesses and their contribution to economic growth and improving lives. Of the 186 accolades announced this year, 17 went to West Country firms – with eight receiving awards for innovation, five for international trade and four for sustainability efforts.

Bristol-based bike-packing and cycling equipment business Tailfin was the only business in the UK to receive two awards – for innovation and international trade.

The company, on Cumberland Road, is part of the rapidly-growing ‘bike-packing’ market – an adventure-focused cycling discipline where cyclists carry all necessary gear on their bikes.

Tailfin was founded more than a decade ago by Nick Broadbent, a mechanical engineer and product designer, and initially focused on rack and pannier accessories. Today, it has more than 12 product lines distributed from warehouses in the Netherlands, US and Europe, and last year secured major funding to expand its Bristol HQ.

Blair McDougall, minister for small businesses and economic transformation, said: “A huge congratulations to every business receiving awards this year, who once again have illustrated the best of British innovation and talent.

“These awards show that right across the UK, there are small businesses that are thriving, growing and succeeding and it’s only right that we champion these successes.”

Elsewhere, Devon-based Luminous Show Technology, a cutting-edge special effects company from Exeter, and Cornish bike mudguard business Mucky Nuts received innovation awards, while Somerset military engineering and software firm Systems Engineering & Assessment scooped an international trade award.

The Lord-Lieutenant of Somerset, Mohammed Saddiq, said: “These outstanding businesses showcase the very highest standards of innovation, professionalism, and integrity. It is particularly inspiring to see such excellence thriving here in Somerset, contributing not only to the local economy but also making a significant impact nationally and internationally. They are truly worthy recipients of this prestigious honour.”

Meanwhile, Cotswold-based natural soap business The Little Soap Company scooped a sustainability award. The firm, which was established by Emma Heathcote-James in 2008, now employs 11 staff, turns over £2.4m a year and its products are stocked by Waitrose, Tesco, Sainsbury’s, Morrisons and Boots. The company previously won a Queen’s Award for Innovation in 2022.

“Receiving a King’s Award for Enterprise is a real honour,” said Ms Heathcote-James. “Sustainability isn’t just about the products, but the team too. It’s embedded in how we work, how we hire, and how we make decisions every day. This award shows that a small UK business can drive large-scale environmental change through everyday products.”

The King’s Awards, which turn 60 this year, were formerly known as the Queen’s Awards for Enterprise. More than 8,000 British businesses have been recognised with this royal accolade since 1966.

His Majesty’s Lord Lieutenants – the king’s representatives in each county – will present the awards to businesses locally throughout the year. One representative from each business will also be invited to a special royal reception event.

Full list of King’s Awards 2026 South West winners

Advanced Innergy, Innovation, Gloucestershire

Avantis Education, Innovation, Gloucestershire

Ergochair, Innovation, Gloucestershire

Luminous Show Technology, Innovation, Devon

Mucky Nutz, Innovation, Cornwall

Pet Remedy, Innovation, Devon

Sharpak Yate, Innovation, Bristol

Tailfin, Innovation and International Trade, Bristol

Devoncraft UK, International Trade, Devon

Focal Point Fires, International Trade, Dorset

Nexus BioQuest, International Trade, Somerset

Systems Engineering & Assessment, International Trade, Somerset

Paradigm Norton Financial Planning, Sustainability, Bristol

Services Design Solution, Sustainability, Devon

The Natural Mat Co, Sustainability, Devon

Tops Day Nursery, Sustainability, Dorset

The U.S. Food and Drug Administration on Tuesday authorized the marketing of fruit-flavored e-cigarettes, marking the first time it has authorized fruit-flavored vaping products.

The FDA said the products are pods made by Los Angeles-based Glas Inc., a vaping manufacturer that uses age-verification technology to restrict access.

The pods come in mango, blueberry and two menthol varieties and will be marketed under the names Gold, Sapphire, Classic Menthol and Fresh Menthol, the agency said.

“The FDA’s rigorous, scientific review of these products found that the applicant sufficiently demonstrated that Glas’s device access restriction technology, combined with FDA-required marketing restrictions, is expected to effectively mitigate the ability of youth to use the product,” the agency said in a statement.

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The decision follows a Wall Street Journal report that President Donald Trump had rebuked FDA Commissioner Marty Makary over the weekend for not approving flavored vapes more quickly.

U.S. regulators have historically been reluctant to authorize flavored vaping products, citing concerns about their appeal to youth. The FDA said it will continue to require strong evidence that such products benefit adult smokers.

Public health and parent groups have long warned that flavored vaping products can appeal to teenagers, and some advocates said the FDA should closely monitor whether the new restrictions are effective. The Campaign for Tobacco-Free Kids and Truth Initiative criticized Tuesday’s decision, arguing it could undermine progress in reducing youth vaping, according to The Associated Press.

Earlier this year, the agency modified its approach to flavored vapes amid increased industry lobbying and political pressure to expand access.

The White House pushed back on past restrictions, with spokesperson Kush Desai telling FOX Business that flavored vapes help adults quit smoking.

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“The Biden administration cracked down on flavored vapes despite an abundance of evidence finding that these products are beneficial for adults trying to quit smoking,” Desai said. 

“The only factor guiding the Trump administration’s health policy making is Gold Standard Science, and the FDA under Commissioner Makary’s trailblazing leadership will continue to make evidence-based decisions that rectify the Biden administration’s missteps and that are in the best interest of the American people,” he added.

Following Tuesday’s decision, the FDA has authorized 45 e-cigarette products in the United States.

According to the agency, more than 25 million Americans smoke cigarettes, and smoking remains the leading preventable cause of chronic disease and premature death in the U.S., accounting for about one in five deaths.

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Federal regulators authorized select flavored vape products, citing potential benefits for adult smokers.

“Under President Trump’s leadership, the FDA has authorized a number of less harmful alternatives for smokers,” the agecy said.

The FDA said marketing of the products will be limited to adults ages 21 and older, and Glas’ technology is designed to reduce youth access.

The system requires users to verify their age with a government-issued ID and pair the device with a smartphone via Bluetooth. The device will not function if separated from the user’s phone.

“By helping to prevent youth use, device access restrictions are a potential game changer,” said Bret Koplow, acting director of the FDA’s Center for Tobacco Products.

READ MORE FROM FOX BUSINESS

“This technology is also an indication of the role innovation may serve in the effort to protect young people from threats posed by nicotine use and addiction while helping to enable availability of an expanded array of flavored options for adults who smoke who may use these products to completely switch away from regular cigarettes,” he added.

FOX Business has reached out to the White House and FDA for comment.

Reuters contributed to this report.

Oil prices declined for a second straight day on Wednesday as hopes grew that disrupted supplies from the Middle East could return if a potential U.S.–Iran peace agreement materialises. This followed comments from U.S. President Donald Trump hinted at progress toward ending the conflict.

Trump said on Tuesday that an operation to escort ships through the Strait of Hormuz would be paused briefly, citing movement toward a broader agreement with Iran, though he did not provide specifics. There was no immediate response from Tehran, where it was still early morning on Wednesday.

Crude oil price on May 6

Brent crude for July delivery dropped $1.52, or 1.38%, to $108.35 a barrel, after losing 4% in the previous session. U.S. West Texas Intermediate crude for June fell $1.50, or 1.47%, to $100.77, following a 3.9% decline on Tuesday.He added that the U.S. Navy would continue its blockade of Iranian ports. The Strait of Hormuz, which normally handles about one-fifth of global oil and natural gas shipments, has largely been shut since the U.S.-Israeli conflict with Iran began on February 28.

The disruption has tightened global supplies, pushing Brent prices last week to their highest level since March 2022.
In a social media post, Trump said both sides had agreed that while the blockade would remain fully in place, “Project Freedom” would be paused temporarily to allow time for the agreement to be finalised.
His remarks came shortly after U.S. Secretary of State Marco Rubio updated reporters on the escort initiative announced on Sunday to help stranded tankers pass through the strait. On Monday, the U.S. military said it had destroyed several Iranian small boats along with cruise missiles and drones while escorting two vessels out of the Gulf.
On Tuesday, Washington played down the prospect of a return to active war, with Defense Secretary Pete Hegseth confirming the truce that began just under a month ago is still in place. Meanwhile, General Dan Caine, the chairman of the Joint Chiefs of Staff, said attacks by Tehran on vessels in the Persian Gulf and the United Arab Emirates didn’t constitute a breach of a ceasefire.

Experts still worried

On the outlook, Haitong Futures noted that the current ceasefire could be temporary. A lack of progress in U.S.-Iran talks may lead to renewed escalation, potentially pushing oil prices higher.

Nuvama Institutional Equities echoed a similar view, stating that an extended shutdown of the Strait of Hormuz, which carries around 20 million barrels per day, could lift crude prices into the $110 to $150 range.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Science, software and sustainability recognised by scheme for best in British business

A socks specialist backed by Dragon Steven Bartlett and a business founded in a garage just five years ago are among the North West firms to be recognised in this year’s King’s Awards for Enterprise.

Twenty North West firms have been honoured in this years’ King’s Awards as the prestigious scheme marks its 60th anniversary.

They include TechPlant, which was founded in a Blackburn garage in 2021 and today sells scientific instruments around the world. Meanwhile previous winners Travel Counsellors and Oliver Valvetek have been recognised again, as has Bolton manufacturer Beldam Crossley in its 150th anniversary year.

Meanwhile Stand Out Socks, which won investment from Peter Jones and Steven Bartlett on BBC Dragons’ Den in 2024, has won royal recognition for its backing of people with Down Syndrome and learning disabilities.

The awards scheme was launched in 1965 as the Queen’s Awards to recognise the best in British business and to honour those firms that are helping to improve lives. It has recognised more than 8,000 British businesses in total.

This year there were 186 recipients in total across the UK. Of them, 76 businesses have been recognised for International Trade, 52 for Innovation, 36 for Sustainability and 22 for Promoting Opportunity through social mobility.

This year the awards are launching a new category, for young founders. It will recognise founders aged 18–30 “who are actively leading their businesses and building success with impact”.

Blair McDougall, Minister for Small Businesses and Economic Transformation said:

“A huge congratulations to every business receiving awards this year, who once again have illustrated the best of British innovation and talent.

“These awards show that right across the UK, there are small businesses that are thriving, growing and succeeding and it’s only right that we champion these successes.”

King’s Awards for Innovation

Travel Counsellors

This is the fourth time Manchester’s Travel Counsellors has received a King’s or Queen’s Award. It secured International Trade honours in 2014 and 2020, and previously won an Innovation award in 2003.

This year it was recognised for the development of its technology platform.

Last year Travel Counsellors moved into the North American market with the acquisition of TTAND in Canada. It now works with more than 4,000 travel business owners in countries including the UK, Ireland, the Netherlands, Belgium, South Africa and the UAE.

Steve Byrne, global CEO at Travel Counsellors, said: “We are incredibly proud to receive a King’s Award For Enterprise for the fourth time. Being recognised for Innovation is especially meaningful, because it reflects how our model has evolved as we create ways for travel entrepreneurs to build businesses that truly work for them, including how they can work together to enhance their expertise and offering to corporate travel clients, supported with the freedom, flexibility and guidance they need to succeed.”

“What sets our community apart is the care and human connection they bring to every client relationship. Those values guide how we continue to shape the model and the technology that supports it, and it’s this combination of a high‑tech, high‑touch approach that helps our Travel Counsellors tell powerful stories, inspire connections and build lasting client loyalty.

“Ultimately, this award belongs to our global community. Their dedication, passion and entrepreneurial spirit are what make Travel Counsellors a truly special to be, and I’m deeply grateful for the role each individual plays in our continued success.”

Chemical Processing Services

The firm based in Wrightington, Wigan, has been recognised for its Innovative new disruptive technology for epoxy systems.

Boss Paul Jones told BusinessLive he was “delighted” to receive the award. He said: “This award recognises our work in developing high-performance chemical solutions that avoid the use of CMR (carcinogenic, mutagenic and reprotoxic) substances, addressing a long-standing challenge in the sector. Our approach demonstrates that it is possible to deliver demanding technical performance while significantly improving health and environmental outcomes.

“This innovation builds on a sustained programme of research and development within the company, translating advanced chemical design into scalable, real-world applications. It reflects our commitment not only to performance and commercial value, but also to safer and more responsible chemistry.

“Having previously received a King’s Award, it is particularly meaningful to be recognised again—for further innovation in safer chemical technologies. We see this as part of a wider shift within the industry toward more sustainable and scientifically grounded solutions, and we are proud to be contributing to that progress.”

Idem Safety Switches

Idem, based in Hindley Green, Wigan, was recognised for its development of a safety switch with dual anti-tamper features, incorporating RFID technology, providing enhanced protection from forced entry.

The company said: “Idem are very proud to receive its 4th King’s Award for Enterprise.

This recognises the continued devotion to innovation in safety switches and the overriding mission of keeping people safe in industry.“

Internet Investigations Solutions

Liverpool-based IIS was honoured for its work providing “world-class secure internet intelligence and investigation solutions to carefully vetted public service organisations”.

New Reg

The number plate and personalised registration specialist, based in Longton, Preston, was recognised for its “AI-driven system, automating the identification and pricing of vehicles, providing seamless integrated holistic customer experience”.

Oliver Valvetek

This is the third King’s or Queen’s Award for Oliver Valvetek, its first in the innovation category, and the fourth award overall across Knutsford’s wider Oliver group.

This year’s recognition for Valvetek is for the development of its Face Seal arrangement for subsea gate valves, which the company says has “delivered a major improvement in sealing performance, reliability and manufacturability for demanding subsea applications, particularly where high pressure and deepwater performance are critical”.

Engineering director Nick Howard said: “This is a very proud moment for the business. To have our efforts recognised by such a high standard as the King’s Award is a significant achievement, and one that reflects the innovative skills we have within our engineering and R&D teams here at Oliver’s.

“This award recognises the forward-thinking development that takes place across the business and the quality of the products we continue to deliver. It is a strong endorsement of our engineering capability, our technical knowledge and our willingness to keep improving the solutions we provide for our customers.

“The award will support our continued global growth, open new opportunities, and strengthen our ability to invest in research and development and attract high-calibre people into the business.

“Most importantly, this achievement belongs to the wider team. Innovation does not happen in isolation. It relies on engineering, production, quality, testing, sales, purchasing and every function working together to turn an idea into a proven product that customers trust.”

Quantum Science

The Daresbury tech business has been recognised for its work developing INFIQ infrared quantum dot technology. It says the product has “real commercial momentum” and that it could be used in fields including consumer electronics, automotive systems, industrial automation, medical diagnostics and defence.

Dr Hao Pang, founder and CEO of Quantum Science, said: “Receiving the King’s Award for Enterprise in Innovation is a tremendous honour for Quantum Science. It is a proud moment for the business and a reflection of the dedication, technical expertise and persistence of our team.

“This award recognises the progress we have made in developing INFIQ® into a practical and scalable platform for short-wave infrared imaging. We believe it will help strengthen our profile with customers, partners and investors as we continue to expand commercial adoption of the technology.”

King’s Awards for International Trade

TechPlant

When two friends founded their hi-tech equipment supply business in a Blackburn garage during the Covid pandemic, they could never have believed that five years later they’d win a King’s Award for their international success.

Muhammad Geloo and Aziz Bham had no investors, no loans, and no prior experience in the sector when they joined forces in the back of Dock Street Garage to source, restore and resell high-value precision instruments that had been disposed of or written off by large organisations.

Five years on their business TechPlant, which trades as TT Instruments, employs six and sells to more than 70 countries worldwide with almost 80% of its turnover coming from international customers. Its directors remain proud they have never received a government grant or taken on external debt.

Director Muhammad Geloo said: “Winning the King’s Award for Enterprise for International Trade is something Aziz and I are incredibly proud of. We started TT Instruments five years ago from the back of a garage in Blackburn with nothing — no investors, no loans, no experience.

“We built a multi-million pound international business exporting precision instruments to over 70 countries worldwide, entirely on our own terms. Every instrument we sell has been sourced from UK corporate disposal cycles and given a second life rather than going to waste. This award means everything to us and to Blackburn.”

Altus Science

The Runcorn biotech firm has been recognised for its global success providing Certified Reference Materials (CRMs) for the life science industry.

The company told BusinessLive: “Our goal has always been to make high-quality, compliant standards whilst supporting our customers through technical, scientific expertise. This customer-focused approach to producing standards accredited to the highest possible quality standards has resulted in fantastic organic growth over the last three years. We are extremely proud to be awarded the King’s Award in recognition of this.”

Beldam Crossley

Hi-tech manufacturer Beldam Crossley has been recognised for its recent growth in overseas sales. Overseas sales increased by more than 93% from 2022 to 2024, with key markets including the United States, Japan, the United Arab Emirates, Indonesia, Malaysia, Turkey, Spain, Portugal and West Africa.

The Bolton company can trace its history back to 1876 and has been trading under its current name since 1914. Today it makes high-performance polymer components, bearings and sealing systems used in sectors including aerospace, offshore energy, marine, defence, chemical processing, food production and industrial engineering.

Dave Haxton, managing director of Beldam Crossley, said: “Receiving a King’s Award for Enterprise for International Trade is a proud moment for everyone at Beldam Crossley. It reflects the dedication of our people, the loyalty of our customers and partners, and the strength of British engineering in global markets.

“We are proud to manufacture in Bolton and export specialist solutions that help customers solve complex engineering challenges around the world.”

Northern Consortium UK

The Manchester group has been recognised for its UK university pathway programmes with partners in more than 40 countries worldwide.

Stuart Smith, chief executive officer of NCUK said: “The King’s Award is the ultimate recognition of what our team and our international partners have built together. It also reflects the progress we have made as an organisation over the last few years. I am immensely proud of the work of everyone at NCUK and our global community.

“Together, we will build on this recognition to continue increasing access for students worldwide, support educators around the globe in delivering international qualifications in their own countries, and strengthen the internationalisation and quality of education standards worldwide.”

PSW Integrity

The Birkenhead-based business was recognised for “supporting industries worldwide in asset management and reliability engineering, optimising operational efficiency and sustainability”.

QBS Technology Group

The Alderley Edge software firm was honoured for its overseas sales success supply software “that the world’s largest companies use each and every day”.

Dave Stevinson, Group CEO QBS Software, said: “I am incredibly proud to receive this recognition from the King. In the last eight years, since starting the company, our international sales have gone from zero to well over half a billion dollars of recurring revenue.

“We are on target to go beyond a billion dollars by 2030, through our investment in people and technology.”

Redmayne 1860

Carlisle’s Redmayne 1860 was honoured for its work “combining tradition and technology to deliver British bespoke tailoring to a global audience”.

The company told BusinessLive: “To receive The King’s Award for Enterprise in International Trade is a tremendous honour for all of us here at Redmayne. As a Cumbrian firm with over 160 years of heritage, it is a particularly proud moment not only for British craftsmanship, but for the tradition of craftsmanship here in Cumbria.

“This recognition belongs to our entire team, young and old, and to our next generation of craftsmen and women who are carrying our Redmayne’s legacy forward. Above all, our sincere thanks go to our clients around the world, whose loyalty, support, and appreciation of our commitment to excellence make our work possible.”

Sterling Quality Services

Exports now make up more than 78% of total sales at Sterling Quality Services (SQS), which delivers inspection, expediting and supply chain assurance services in the energy, infrastructure and science sectors.

It’s been recognised for its 195% growth in overseas revenue over the past three years. The group now operates across 50 countries, backed by a network of more than 2,000 inspectors.

Lisa Roberts, managing director of SQS, said: “Winning the King’s Award for Enterprise is an incredible honour for SQS and a proud moment for our entire team. This recognition reflects the trust our global clients place in us, the depth of expertise across our international inspection network, and our commitment to delivering high‑quality, ethical supply chain assurance worldwide.

“As a B Corp, we’ve always believed that sustainable growth, innovation, and doing the right thing go hand in hand — and this award reinforces that belief.”

King’s Awards for Promoting Opportunity

Stand Out Enterprises

Stand Out Socks won investment on BBC Dragons’ Den in 2024 for its work empowering people with Down Syndrome and learning disabilities. The colourful sock business was co-founded by an entrepreneur with Down Syndrome, Ross Laing, and has created thousands of hours of paid work for people with Down Syndrome.

On Dragon’s Den, the Warrington business received offers from four of the five Dragons and ultimately took investment from Steven Bartlett and Peter Jones.

Co-founder Christian Laing said: “We are truly overwhelmed and deeply honoured to receive The King’s Award for Enterprise. It is hard to put into words what this means to us.

“Stand Out Socks began with a simple belief – that people with learning disabilities deserve real, paid, meaningful work and the chance to be seen for what they can do, not what they are assumed not to be able to do. What started as an idea has grown into a family, a movement, and a mission that changes lives every single day – including our own.

“This award is not just recognition of a business. It is recognition of every single person in our team who shows up with pride, determination, and joy. It belongs especially to the incredible individuals with learning disabilities who are at the very heart of everything we do – they are the reason we exist, and they are the reason we keep pushing forward.

“We are also incredibly grateful to our customers, partners, and supporters who have believed in us, backed us, and helped turn this vision into reality. Without them, none of this would be possible.

“This moment means so much – not just for us, but for what it represents. We hope it shows that when people are given the right opportunity, they don’t just take part… they thrive, they lead, and they change the world around them.”

Laltex & Company Limited

The Laltex Group, from Leigh, has been recognised for the success of its supported employment initiative designed to create opportunities for individuals who face significant barriers to work. It has worked with organisations such as Seashell Trust to support people with complex learning disabilities to get employment experience and to develop skills, confidence, and independence.

Sanjay Mulchand, CEO, said: “This award is testament to the dedication of our teams and partners and reinforces our belief that businesses can play a vital role in driving positive social change.”

The Forshaw Group

Property restoration specialist The Forshaw Group was recognised for the development of its INS-Pire academy that aims to encourage young people, particularly those from disadvantaged backgrounds, into the insurance and construction industries.

Liam Hanlon, managing director of Knowsley’s Forshaw Group, said: “We are beyond delighted to be presented with the King’s Award for Enterprise: Promoting Opportunity. This achievement is a culmination of many years of commitment to social mobility within our community, and beyond. It is not only a celebration of the work we do at The Forshaw Group, but it is also recognition of all the incredible organisations and companies we partner with.

“We have only been able to achieve what we have through the commitment, support, enthusiasm, effort and energy of all the people, initiatives and organisations who we are proud to work closely with.”

King’s Awards for Sustainability

Protec International

Protec International, of Adlington, Stockport, makes, supplies and recycles temporary protection materials and sustainable site signage. It has been recognised for its efforts to cut plastic waste and its work remanufacturing materials, reducing carbon, and maximising social value in construction.

CEO James Harrison said he was “honoured” the company had won the award. He said: “This recognition reflects the collective effort across our business and a shared mindset: ‘Where others see plastic waste, we see wasted plastic’.

“By collecting and reprocessing post-consumer materials previously used on site, we are helping to close the loop within the construction industry and deliver practical, scalable solutions for our customers.”

Topspeed Couriers

Topspeed Couriers of Wilmslow has been recognised for its work in sustainable logistics, decarbonising its fleet and providing second chance employment.

The business was founded in 1985 by CEO Stephen Clegg to specialise in the secure transport of controlled and regulated goods. It now employs more than 100 people.

Mr Clegg said: “Winning the King’s Award for Enterprise in Sustainable Development is a huge moment for Topspeed, and I’m incredibly proud that our commitment to operating responsibly has been recognised at a national level.

“This award is a testament to the hard work and dedication of our whole team, and the support of our customers and partners who’ve worked alongside us to put a robust Carbon Reduction Plan in place and keep raising the bar for more sustainable, secure logistics.”

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MNTN, Inc. (MNTN) Q1 2026 Earnings Call May 5, 2026 4:30 PM EDT

Company Participants

Brinlea Johnson
Mark Douglas – Founder, President, CEO & Chairman of the Board
Patrick Pohlen – Chief Financial Officer

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Conference Call Participants

Shyam Patil – Susquehanna Financial Group, LLLP, Research Division
Ronald Josey – Citigroup Inc., Research Division
Andrew Boone – Citizens JMP Securities, LLC, Research Division
Robert Coolbrith – Evercore ISI Institutional Equities, Research Division
Matthew Weber – Canaccord Genuity Corp., Research Division
Andrew Marok – Raymond James & Associates, Inc., Research Division
Robert Sanderson – Loop Capital Markets LLC, Research Division
Laura Martin – Needham & Company, LLC, Research Division

Presentation

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Operator

Hello, and welcome to the Mountain First Quarter 2026 Results Call.

[Operator Instructions] I will now hand the conference over to Brinlea Johnson. Please go ahead.

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Brinlea Johnson

Good afternoon. Thank you for joining us for Mountain’s First Quarter 2026 Earnings Call. With me today is Mark Douglas, CEO; and Patrick Pohlen, CFO.

Just to remind everyone, today’s call includes forward-looking statements that are subject to risks and uncertainties, and actual results could materially differ from those anticipated in these forward-looking statements. For the risks and uncertainties that may affect future results, please see our most recently filed periodic report, which is also available on our website. We will also discuss non-GAAP financial measures on today’s call. Reconciliations of these measures are available in our earnings materials on our website.

With that, I’ll turn the call over to Mark. Please go ahead.

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Mark Douglas
Founder, President, CEO & Chairman of the Board

Thank you for joining us today. Mountain reported strong financial results, delivering first quarter revenue growth of 25% year-over-year, along with strong adjusted EBITDA growth of 74% year-over-year and record positive net income.

Before we get into numbers, I want to take a step back and

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A broad range of companies have been recognised across four categories

Hair dissolving laundry technology, firefighter PPE and construction skills are among the varied areas of expertise among this year King’s Award for Enterprise winners in the Yorkshire & Humber.

A total of 14 firms from South Yorkshire to North Yorkshire and spanning East Yorkshire to West Yorkshire have been recognised in the highly prestigious programme, which is now in its 60th year. Among the region’s winners are AW Hainsworth & Sons Limited, C-Kore Systems Limited, Ideal Boilers Limited, Ionix Advanced Technologies, VAC-EX Limited, Ardent Limited, Cares Laboratory Ltd, Independent Forgings and Alloys Ltd, Irwin Mitchell LLP, Sport:80, Vuba Chemical Innovations Limited, M.B.Roche & Sons Ltd, Sewell Ventures and Techbuyer Limited.

The Yorkshire & Humber firms are among 186 recipients, with Hull and East Yorkshire alone seeing the highest number of awardees in a decade. For Hull’s Ideal Boilers, which employs nearly 1,000 people, the award is the fourth – having previously won three Queen’s Awards .

It was recognised in the Innovation category with CEO Adam Foy saying: “Receiving The King’s Award for Enterprise is a great honour and an incredibly proud moment for us. As a major UK manufacturer with a proud history and heritage, we’re delighted to receive this royal recognition for how we’re shaping the transition to heat pumps across the UK.

“The King’s Award reflects the scale of ambition and commitment our team has shown in transforming not just our own business, but in leading the evolution of the wider UK heating industry.”

Jim Dick OBE, the Lord-Lieutenant of the East Riding of Yorkshire said: “I am delighted to congratulate the recipients of the King’s Award for Enterprise in Hull and the East Riding of Yorkshire. These outstanding businesses exemplify excellence, ambition and innovation, and their success reflects the strength and diversity of our local economy. This prestigious recognition is richly deserved, and I hope it gives them great pride and confidence as they continue to grow and inspire others across our region.”

The team at Barnsley-based Cares Laboratory developed Vamoosh – a formula that dissolves pet hair in the washing machine. The breakthrough product was launched in 2017, is now in more than 5,000 UK retail outlets across grocery, pet, DIY and value channels, and has sold millions of units, building strong consumer loyalty and retailer demand.

In the last 18 months the business has grown its export partners from four to 12 globally. Vamoosh is now found in 30 countries including Australia, Germany, South Africa, the Nordics and most recently the USA.

Tom Abbey, founder of Vamoosh, said: “ We’re absolutely delighted to receive the King’s Award for Enterprise for International Trade. To see the growth of Vamoosh recognised in such a prestigious way is an honour for the whole team. Over the last few years, we’ve worked incredibly hard to grow the brand internationally, bringing our patented innovations to households around the world, so it’s fantastic to see those ecorts recognised with the UK’s highest business award. This achievement is a real reflection of the passion, dedication and innovation across the entire Vamoosh team, and we’re excited for what the future holds.”

Blair McDougall, minister for Small Businesses and Economic Transformation said: “A huge congratulations to every business receiving awards this year, who once again have illustrated the best of British innovation and talent. These awards show that right across the UK, there are small businesses that are thriving, growing and succeeding and it’s only right that we champion these successes.”

Overall, 76 businesses have been recognised for International Trade, 52 for Innovation, 36 for Sustainability and 22 for Promoting Opportunity