The Young and the Restless Recap, May 4-8, 2026: Victoria warns Billy, Phyllis and Cane are arrested, and Matt shows up alive

Here is your weekly recap of The Young and the Restless for the episodes that aired May 4th through 8th, 2026.

What happened on The Young and the Restless

Claire got a nice job offer from Nikki on The Young and the Restless | Image: CBS

This week on The Young and the Restless, Nikki suggested that Claire take over running Chancellor. Lily fibbed to Nikki that the only reason she’d gone along with Victor’s fake kidnapping plot had been to teach Cane a lesson. Nick told Nikki and Victoria about his drug addiction and that Sharon was helping him get treatment to beat his addiction.

Jack clued Kyle in about his plan to weaponize Patty to seek revenge on Victor. Kyle advised against his father collaborating with someone as volatile as Patty can be. After excoriating Victor and exchanging barbs with Patty, Diane witnessed the two sharing a victorious toast. Victor pretended that he was seeing Patty, his ally against Jack, for the first time in a while. Diane saw right through Victor's act.

Oh, baby!

Victoria Newman (Amelia Heinle) is becoming more and more like her father, Victor, on Y&R | Image: CBS

Victoria warned Billy that he was implicated in incriminating emails between Phyllis and Cane on Chancellor Industries’ server. Billy doubted the emails’ authenticity and blasted Victoria for blindly backing her father’s quest to take him down. Victoria noticed Sally's engagement ring. She was taken aback a bit to learn that not only are the two engaged, but they are expecting a baby together.

Jeopardy for Malcolm

Lily saw a cop take Cane away with Cricket right when she needed him the most on Y&R | Image: JPI

Cane and Lily made plans to fly to New York together. Phyllis and Cane each were arrested but later were released on bail. Billy refused to go down with Phyllis and Cane.

Michael informed Victor that he’d decided to represent Phyllis, and Victor ordered him out of his house. Michael contemplated how to defend Phyllis while not revealing she’d stolen Newman Enterprises.

Lily pleaded with Christine to allow Cane to leave town to donate blood marrow to Malcolm. Lily turned to Traci for comfort. The judge refused to allow Cane to leave town, but Cane promised Lily that if needed, he’d break his bail to help Malcolm. Claire agreed to accompany Holden to New York to support him during Malcolm’s health crisis.

Houston, we have a problem

Phyllis Summers (Michelle Stafford) and Lauren Fenmore Baldwin (Tracey Bregman) had a serious talk about business on The Young and the Restless | Image: JPI

Nick went over to Phyllis's office (AKA his father's office) and blasted her for being so unreasonable when it came to not giving Newman Enterprises back to the Newmans. Phyllis dug her heels in the sand. Nick insisted that this was his father's company and his office. Phyllis snarked that it kind of wasn't, given her presence there.

Then, Nick grew furious and lost his temper with Phyllis. He pointed out to her that people forgive her time and time again, but that he was through with her. He no longer cared. Phyllis sensed that something was wrong with her ex-husband, but he left in a rage.

Later, Lauren warned that business deals were falling through in Houston and that morale was plummeting because of Phyllis’ arrest. Phyllis gave Lauren a chance to leave, but Lauren vowed to stand by her friend.

Matt resurfaces … again

Noah Newman (Lucas Adams) on The Young and the Restless | Image: JPI

Sienna recalled hitting Matt over the head with a rock and not finding his pulse afterward, but she remained convinced he was alive. Victor’s team was unable to find Matt’s remains. Matt showed up in a Las Vegas diner, seemingly with no memory of who he was. Matt found a key card to the Genoa City Athletic Club in his pocket and made his way to Wisconsin.

At the GCAC, Matt overheard Cane and Holden discussing the case against Cane, and he later witnessed a fiery exchange between Cane and Phyllis. Matt and Phyllis struck up a conversation at the Athletic Club bar. The couple traded barbs as Phyllis unloaded about her woes on Matt, not knowing who he truly is. Nick narrowly missed seeing them together, but he took a call from Christian, which distracted him.

At Chancellor Park's outdoor cage, Claire and Audra traded barbs. Audra pointed out to Claire that she's only gotten jobs that were given to her by her wealthy family, the Newmans.

Later, Audra Charles spotted Matt, but she called him "Mitch" as she knew him as Mitch Bacall from her time at The Shadow Room in Los Angeles. Then, Noah spied Mitch and attacked him at the café. Matt swore up and down that he didn't know who he was, and he wondered why Noah was calling him "Matt" while Audra was calling him "Mitch."

Noah asked Audra to call his father, but Audra didn't have Nick's number in her phone. Noah scoffed at Matt’s claims that he couldn’t remember who he was. Matt knew enough to get away, so he sucker-punched Noah and ran off. Noah called Nick and informed him that Matt was not only alive, but that he was in Genoa City.

Watch full episodes of The Young and the Restless on CBS or stream on Paramount Plus.