Operator

Hello, everyone. Thank you for joining us, and welcome to WSFS Financial Corporation Second Quarter Earnings Call. [Operator Instructions]

I’d now like to turn the call over to your host for today, Mr. David Burg, Chief Financial Officer. Sir, please go ahead.

David Burg
Executive VP & CFO

Thank you very much, and good afternoon, everyone. Thank you for joining our second quarter 2026 earnings call. Our earnings release and an earnings release supplement, which we’ll refer to on today’s call, can be found in the Investor Relations section of our company website. With me on this call is Rodger Levenson, Chairman, President and CEO.

Prior to reviewing our financial results, I would like to read our safe harbor statement. Our discussion today will include information about our management’s view of our future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements due to risks and uncertainties, including, but not limited to, the risk factors in our Annual Report on Form 10-K and our most recent Quarterly Reports on Form 10-Q, as well as other documents we may periodically file with the Securities and Exchange Commission. All comments made during today’s call are subject to the safe harbor statement.

I will now turn to our financial results. During the second quarter, WSFS’s performance

Unknown Executive

Good morning, ladies and gentlemen. Welcome to the SCG Analyst Conference for the Second Quarter of 2026. I’m [ Sikachi ] from SCG, Investor Relations Specialist, and I will be the moderator for today’s session. We are pleased to welcome all the guests who joined our session both online and offline. For those who join online, please kindly change your name and your company, I will accept you to the meeting room.

Today, our management are here to provide you the continued earnings momentum for the second quarter as well and the business update, followed by outlook. After the presentation, we will open the floor for the questions.

Today’s presenters comprise of SCG management, led by Khun Thammasak, the CEO of SCG, who will walk you through for the consolidated results and outlook. And SCGC management led by Khun Sakchai, the CEO of SCG Chemicals. Next, Khun Wiroat, President and CEO of SCG Cement – Building Materials will be also presenting for the SCG Decor. And lastly, Khun Chantanida, CFO of SCG, who will present the financial parts and also SCG Packaging.

And now let’s start for today’s presentation, beginning with Khun Thammasak.

Thammasak Sethaudom
President & Director

Good morning, and welcome back to analyst conference discussion today. So I just want to spend a little bit of time to look back at Q2, right? What really happened and what did we do right, probably what did we do wrong that we have to

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Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Apple is preparing one of the most comprehensive overhauls of its Mac product line in years, with plans to refresh every computer it currently sells over the next two years, according to a report from Bloomberg’s Mark Gurman.

The rollout, aimed at capitalizing on surging demand for AI-capable computing hardware, is set to begin this fall with a new entry-level 14-inch MacBook Pro and the first refreshed iMac models in two years, with additional updates to the MacBook Air, Mac mini, Mac Studio and Apple’s newest budget laptop, the MacBook Neo, following over the subsequent months.

What’s arriving first

According to Bloomberg, both the refreshed 14-inch MacBook Pro and the updated iMac have already completed development and are being held for a fall release. The new entry-level MacBook Pro, internally codenamed J804, will be among the first Apple products to feature the company’s next-generation M6 chip. The refreshed iMac, carrying internal codenames J833 and J834, is expected to retain the same overall design and display as the current model, according to Appleosophy’s summary of the Bloomberg report, marking an incremental rather than dramatic visual update.

A bigger redesign coming later

Beyond this fall’s initial wave, Apple is preparing a more substantial redesign for its higher-end MacBook Pro lineup, arriving sometime between late 2026 and early 2027. According to Bloomberg, this next-generation Pro model, referred to internally by some reports as the “MacBook Ultra,” will feature an entirely new, thinner design paired with tandem OLED touchscreen displays and a Dynamic Island cutout similar to the one found on recent iPhone models. That premium model is expected to use Apple’s existing M5 Pro and M5 Max chips, carrying internal codenames K114 and K116 for its 14-inch and 16-inch variants, according to Appleosophy.

The touchscreen OLED display would mark a significant shift in Apple’s laptop design philosophy, introducing a display technology Apple has never before used on a MacBook Pro. According to BigGo Finance, Apple is already testing this hardware alongside macOS 27.1, which is expected to ship in late October, suggesting the software groundwork for the redesigned laptop is already well underway even if the hardware itself won’t arrive until later.

A refresh extending across nearly the entire lineup

Beyond the MacBook Pro and iMac, Apple’s broader roadmap includes updates to several other product lines. A refreshed MacBook Air is expected to retain its current design while adopting the new M6 chip, carrying codenames J913 and J915. New Mac mini and Mac Studio models are also in development, with their exact release timing reportedly dependent in part on memory chip supply constraints affecting the broader industry, according to MacRumors.

Apple is additionally preparing a second generation of the MacBook Neo, its budget-friendly $599 laptop that debuted in March 2026 as the first Mac ever built around an iPhone-class processor rather than Apple’s traditional M-series silicon. The current MacBook Neo runs on the A18 Pro chip, originally introduced in the iPhone 16 Pro, and BigGo Finance reports that Apple is now testing a successor version built around the newer A19 Pro chip.

Looking further ahead

Apple’s Mac roadmap extends even further into the future, according to Bloomberg’s reporting. A base-model 14-inch MacBook Pro built around the M7 chip and adopting the redesigned “MacBook Ultra” aesthetic is expected sometime in 2027, carrying the internal codename K104. A further refresh of the premium MacBook Ultra line, upgraded to M7 Pro and M7 Max chips, is anticipated in the late 2027 to early 2028 window.

Looking beyond that, Apple is reportedly developing an OLED version of the MacBook Air, expected no earlier than 2028, which would mark the first time that particular laptop line has offered an OLED display. An OLED iMac is also said to be in development, though its release timeline remains unclear, and it is expected to follow the MacBook Air’s eventual transition to the newer display technology.

Why Apple is investing so heavily in Macs now

The scale of this planned overhaul comes amid what MacRumors described as a broader Mac sales resurgence, with revenue from the product line projected to climb for a third consecutive year. According to BigGo Finance, Mac revenue recently reached a record level, with the growth partly attributed to an expanding user base relying on Mac hardware for demanding, AI-driven computing workloads, including so-called agent-based AI tasks that require significant local processing power.

Apple’s decision to prioritize this kind of hardware refresh reflects a broader industry-wide push among computer makers to capture growing consumer and professional demand for machines capable of running increasingly sophisticated AI applications directly on-device, rather than relying entirely on cloud-based processing.

A separate iPad delay

While the Mac lineup is set for a significant near-term overhaul, Apple’s iPad refresh plans appear to be moving on a slower timeline by comparison. According to MacRumors, Bloomberg had previously suggested a broader iPad update would arrive sometime in 2026, but more recent reporting suggests that refresh may not materialize until the first quarter of 2027 at the earliest, a shift that stands in contrast to the accelerated pace of Apple’s planned Mac updates.

Market reaction

News of the planned Mac overhaul drew a modest reaction from investors when it was first reported, with Apple shares slipping nearly 1% in morning trading the day the report emerged, according to Stocktwits, though the stock has continued its broader upward trajectory in the days since amid other positive catalysts, including price target increases from multiple Wall Street analysts.

With development on the initial wave of new Macs, including the refreshed MacBook Pro and iMac, already reportedly complete, attention now turns to Apple’s typical fall announcement schedule, when the company traditionally unveils new Mac and MacBook models alongside its annual iPhone lineup. Whether Apple sticks to the timeline outlined in Bloomberg’s reporting, and how the company positions this broader multiyear Mac refresh against its upcoming foldable iPhone launch and expanding AI software features, are likely to become clearer as Apple’s fall product announcements approach in the coming months.

Kylie Kelce is finally addressing her brother-in-law’s wedding to Taylor Swift, offering fans their first real glimpse into her thoughts on the July 3 ceremony three weeks after it took place.

Speaking on the July 23 episode of her podcast, “Not Gonna Lie,” Kelce, who is married to Travis Kelce’s older brother, Jason, offered a warm but brief tribute to the newlyweds without revealing significant new details about the celebration itself.

What Kylie Kelce said

“I would like to say congratulations to Tay and Trav. It was absolutely magical,” Kelce said during the episode. She continued, “I’m so happy for them, we love them so, so dearly. And it was only making it official because Taylor’s been part of the family now for quite some time, so that’s that.”

Kelce made clear she did not intend to share further specifics about the ceremony, instead redirecting curious fans to the couple themselves. “Anything else you can check in with Taylor and Travis about because any of the details that they want to share, they can share,” she said. “Otherwise, it was intimate and incredible and full of love both for each other and everybody else’s love for them.”

A wedding that included Kelce’s own daughters

Swift and Travis Kelce were married on July 3 at Madison Square Garden in New York City, with reports indicating more than 1,000 guests attended the celebration. According to sportscaster Rich Eisen, who attended the event and spoke about it in a July 10 interview with “Entertainment Tonight,” all four of Jason and Kylie Kelce’s daughters, Wyatt, 6, Elliotte, 5, Bennett, 3, and Finnley, 15 months, served as flower girls during the ceremony. Eisen described the family’s role warmly, telling the outlet that the Kelce family was “just awesome” and recalling the sight of the four young girls “sprinkling flower petals all over the place.”

Jason Kelce has separately described the day as “special” for the family, and previously said his daughters were “very happy” to take part in the wedding. According to a source cited by People, the ceremony was officiated by comedian Adam Sandler.

Addressing viral wedding speculation

Beyond congratulating the couple, Kelce used part of the podcast episode to push back against what she described as an inaccurate report about comments she’d made regarding the wedding. Recounting a conversation she’d had with a father and daughter at the American Century Championship golf event in Lake Tahoe earlier this month, Kelce explained that someone had filmed part of the exchange and mischaracterized it.

“One of them asked me, ‘Will there be photos posted?’ And I said, ‘Well, it just happened. You got to give them some time to bask in it. They’re in the honeymoon time,’” Kelce recalled. She continued, “He recorded the end of that and decided to say that I was commenting on the wedding and the honeymoon. No, I was just saying maybe give them, give Tay and Trav, some time.”

A long-running, publicly warm relationship

Kelce’s latest comments continue a pattern of publicly warm remarks she has made about Swift dating back to well before the wedding itself. Following news of Travis Kelce and Swift’s engagement last September, Kelce appeared on “Good Morning America” and told the program, “We could not be more excited for them and what the future holds. We love love, and we love Taylor and Trav.” She also said at the time that her daughters were “thrilled” about the engagement, adding, “They’re so excited they’re getting another aunt.”

Kelce reiterated similar sentiments on her own podcast around the same period, saying she felt “so incredibly happy” for the couple and expressing gratitude at getting “to welcome Taylor into our family in a more official capacity.”

Not always eager to discuss the details

Despite her consistently warm public tone toward the couple, Kelce has previously expressed frustration with the intensity of public interest in Swift and Travis Kelce’s relationship milestones. During an April episode of her podcast, recorded ahead of the wedding, Kelce had a pointed message for those repeatedly asking about upcoming wedding plans. “To literally everybody, I know it usually comes from a good place, not always, but quit asking me and my mother-in-law about upcoming nuptials,” she said at the time, adding bluntly that neither she nor her mother-in-law had any additional information to share.

A high-profile romance now formalized

Swift and Travis Kelce’s relationship began publicly in 2023, after Kelce revealed on his “New Heights” podcast, which he co-hosts with Jason Kelce, that he had attempted to give Swift a friendship bracelet after attending one of her Eras Tour concerts in Kansas City. Their relationship became public within weeks of that podcast episode, and Swift went on to make frequent appearances at Kansas City Chiefs games throughout the following seasons, becoming a familiar presence not just to football fans but to the broader Kelce family as well.

With Kylie Kelce having now offered her first public remarks since the wedding, and both Swift and Travis Kelce continuing to keep most specific details of the ceremony private, fans hoping for additional insight into the celebration, including any official photos, appear likely to have to wait for the couple to share that information on their own terms. As Kelce herself put it during the podcast episode, any further details about the wedding remain squarely up to “Taylor and Travis” to decide when, and whether, to share.

Available for over a year

Will Bain is joined by Nga Pham in Hanoi and Takara Small in Toronto. Following the latest results from Alphabet and Tesla, both companies are under pressure to sustain spending as competition in artificial intelligence intensifies. Is Wall Street beginning to question the cost of the AI race?

Plus, the mounting economic impact of Canada’s wildfires, why ketchup-flavoured crisps have become such a uniquely Canadian phenomenon, and what Donald Trump’s renewed tariff negotiations could mean for global trade.

(Photo: The Google logo, made up of different coloured letters – blue, red, yellow, blue, green, orange – on the Google house at the CES consumer electronics trade show, in Las Vegas, Nevada, US, 10 January, 2024. Credit: Steve Marcus/Reuters)

You can email the team: businessdaily@bbc.co.uk

Presenter: Will Bain
Producer: David Cann

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