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AXIS Capital(AXS) - 2025 Q4 - Annual Report
2026-02-27 12:58
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-31721 AXIS CAPITAL HOLDINGS LIMITED (Exact name of registrant as specified in its charter) Bermuda (State or other jurisdiction of incorporation ...
Vishay Precision Group(VPG) - 2025 Q4 - Annual Report
2026-02-27 12:58
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission file number 1-34679 Vishay Precision Group, Inc. (Exact name of registrant as specified in its charter) incorporation or organ ...
Alpha Metallurgical Resources(AMR) - 2025 Q4 - Annual Report
2026-02-27 12:36
Reserves and Production - The company has a substantial reserve base of 294.5 million tons of proven and probable reserves as of December 31, 2025, including 282.8 million tons of metallurgical reserves and 11.7 million tons of thermal reserves [59]. - In 2025, the company reduced production levels at its Jerry Fork and Black Eagle mines due to continued softness in the met coal pricing environment, particularly for U.S. High-Vol. products [61]. - The company began the development phase for its new Kingston Wildcat underground mine in 2024, expected to produce Low-Vol. quality met coal starting in Q1 2026 [61]. - In 2023, the company commenced production at its Rolling Thunder and Checkmate Powellton mines, which produce High-Vol. B quality met coal [63]. - The company operates 14 active underground mines, five active surface mines, and eight active coal preparation plants, with one underground mine, one surface mine, and one preparation plant temporarily idled [57]. - The Kepler mining complex has an active underground mine with an estimated life of 12 years, producing primarily Low-Vol. quality met coal [68]. - The Kingston/Mammoth complex includes one active underground mine and two active surface mines, with mine lives ranging from 2 to 11 years [69]. - A new Wildcat underground mine is under development at Kingston/Mammoth, expected to begin production in Q1 2026, with an estimated life of 11 years [70]. - The Marfork complex has three active underground mines and two active surface mines, with mine lives ranging from 1 to 12 years [71]. - Elk Run's underground mine began production in December 2023 but was temporarily idled in November 2024 due to market conditions [74]. - The company produced approximately 13.7 million tons of met coal in 2025, representing 20% of the U.S. met coal production [98]. - The company produced approximately 1.2 million tons of thermal coal in 2025, with 65% of thermal coal tons sold shipped internationally [99]. Financial Performance and Operations - As of December 31, 2025, met coal accounted for approximately 96% of coal revenues, while thermal coal accounted for about 4% [89]. - Approximately 60% of met coal sales volume was delivered under long-term contracts in 2025 [91]. - Rail shipments constituted approximately 89% of total coal shipments from mines in 2025 [93]. - The company has coal supply commitments with a diverse range of customers, including steel manufacturers and electric utilities, serving a global market [86]. - In Q1 2023, the company acquired coal trucks and mining equipment to enhance operational efficiency [95]. - The company has a centralized sourcing group focused on major supplier contract negotiation to lower costs and improve quality [97]. - The company recorded expenses related to the excise tax on coal sold of $3.6 million and $3.8 million for the years ended December 31, 2025 and 2024, respectively [183]. - The company expects to purchase approximately 22.0 million gallons of diesel fuel in 2026 at market rates, which may impact financial results due to fluctuating fuel costs [450]. - As of December 31, 2025, the company maintains a senior secured asset-based revolving credit facility with a borrowing capacity of up to $225.0 million, with no cash borrowings outstanding [451]. - The company had investments in trading securities of $83.9 million and $43.1 million as of December 31, 2025 and 2024, respectively, primarily consisting of U.S. government securities [452]. Regulatory and Environmental Compliance - The company faces strong competition in both the met and thermal coal markets, influenced by domestic and international demand [100][101]. - The company is subject to increasingly stringent regulatory and administrative requirements for coal mining permits, which may take months or even years to be issued [130]. - The company must comply with various environmental statutes, including the Endangered Species Act and the Clean Water Act, in addition to SMCRA [132]. - The Clean Air Act and its state analogues impose direct and indirect impacts on coal mining operations, including permitting requirements and emission control requirements for particulate matter and other pollutants [136]. - The EPA's revised National Ambient Air Quality Standards (NAAQS) for ozone pollution reduced the standard to 70 parts per billion (ppb), which may require significant additional emissions control expenditures at coal-fired power plants [137]. - The Revised Cross-State Air Pollution Rule (CSAPR) is expected to reduce NOx emissions from power plants in 12 states by 17,000 tons in 2021, providing public health and climate benefits valued at up to $2.8 billion annually from 2021 to 2040 [141]. - The company faces potential operational impacts if the attainment status of the areas in which it operates changes in the future due to stricter air quality standards [139]. - The company has been involved in litigation regarding the EPA's regulations, including challenges to the Good Neighbor Plan and the CSAPR, which may affect its operations and compliance costs [142]. - The EPA's final revised MATS rule for electric utility steam generating units (EGUs) established more stringent standards than the previous rule, with litigation ongoing in the U.S. Court of Appeals for the D.C. Circuit [146]. - The EPA's proposed rule in April 2023 aimed to strengthen and update the MATS for power plants, reflecting recent developments in control technologies [146]. - The EPA's 2020 finding that it was not "appropriate and necessary" to regulate HAP emissions from coal- and oil-fired power plants was revoked in February 2023, indicating a shift in regulatory stance [146]. - The Clean Power Plan (CPP) was replaced by the ACE Rule, which focused on reducing GHG emissions from existing coal-fired plants, but was struck down by the Court of Appeals in January 2021 [159]. - The GHG Power Plant Rule issued in May 2024 requires stringent reductions in carbon dioxide emissions from existing coal-fired plants, heavily relying on carbon capture and storage (CCS) [159]. - The EPA's proposed rule to repeal all GHG emissions standards for fossil fuel-fired power plants is expected to be finalized in the first half of 2026, which could further reduce demand for coal [159]. - The EPA's regional haze program and related regulations may lead to additional emissions restrictions, potentially accelerating coal plant closures [148]. - Global climate change initiatives are expected to continue decreasing coal-fired power plant capacity and utilization, impacting demand and prices for thermal coal [151]. - The EPA's monitoring and reporting requirements for GHG emissions from large sources, including coal-fired power plants, are part of ongoing regulatory efforts [155]. - The U.S. Congress has considered legislation to reduce GHG emissions, but no specific bill has been passed to date, while various states have enacted initiatives to phase out GHG emissions [160]. - California's new climate disclosure laws require companies with annual revenue over $1 billion to disclose scope 1, 2, and 3 GHG emissions starting in 2026 [162]. - Annual reporting of scope 1 and scope 2 GHG emissions will begin in 2026, while scope 3 emissions reporting will start in 2027 [162]. - Business entities with annual revenue exceeding $500 million must disclose climate-related financial risks by January 1, 2026, and biennially thereafter [162]. - Certain banks are limiting financing for new coal-fueled power plants, potentially reducing future global coal demand [163]. - Non-governmental organizations are campaigning to minimize coal use, which could lead to a decline in coal prices and sales [164]. - Future climate change regulations may impose additional controls on coal-fired power plants, affecting demand and pricing for coal [165]. - The Clean Water Act requires coal mining companies to obtain permits for pollutant discharges, with non-compliance leading to significant penalties [167]. - The EPA's Effluent Limitations Guidelines established federal limits on pollutants from power plants, with ongoing litigation affecting implementation timelines [173]. - The Endangered Species Act may delay mining permits and increase costs due to protections for threatened species [174]. - Legislative proposals may further regulate coal combustion residuals, potentially increasing operating costs for customers and reducing coal demand [177]. Safety and Workforce - The company achieved a Non-fatal days lost safety incident rate that was 38% better than the U.S. industry average in 2025 [111]. - Approximately 97% of the company's workforce was union-free as of December 31, 2025 [102]. - The company has implemented extensive employee training programs to address the industry shortage of skilled workers [107]. - The company collaborates with academic institutions and agencies to test new technologies for safety improvements [112]. - The company is subject to stringent health and safety regulations under the Mine Act, which could significantly affect operating costs and financial results [182]. - The final rule issued by MSHA to lower permissible exposure limits for respirable crystalline silica will require compliance by April 14, 2025, potentially increasing mining costs [183]. Liabilities and Financial Assurance - As of December 31, 2025, the company had accrued $227.4 million for reclamation liabilities and mine closures [121]. - The total amount of posted third-party surety bonds across all states where the company operates was approximately $170.0 million as of December 31, 2025, down from $182.8 million in 2024 [134]. - The company is required to replace self-bonds with surety bonds or other financial assurance mechanisms, as self-bonding may not be available for compliance with reclamation bonding obligations in the foreseeable future [135]. - The company does not have liabilities under the Coal Industry Retiree Health Benefit Act of 1992 due to prior settlements in bankruptcy [185]. - The company is evaluating the potential effects of proposed rule changes by the U.S. Department of Labor regarding self-insurance standards for coal operators [184]. - The company has exposure to commodity price risk for supplies used in production, managed through strategic sourcing contracts [449]. - The company faces foreign currency risks that could affect competitiveness in international markets, although transactions are primarily denominated in U.S. dollars [453].
NCR Atleos (NATL) - 2025 Q4 - Annual Report
2026-02-27 12:31
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________ FORM 10-K ________________________ (Mark One) þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number: 001-41728 NCR ATLEOS CORPORATION (Exact na ...
Enact (ACT) - 2025 Q4 - Annual Report
2026-02-27 12:27
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Registrant's telephone number, including area code Securities registered pursuant to Section 12(b) of the Act: Commission file number 001-40399 Enact ...
Fulgent Genetics(FLGT) - 2025 Q4 - Annual Report
2026-02-27 12:15
(Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K Commission File Number 001-37894 FULGENT GENETICS, INC. (Exact name of registrant as specified in its charter) Delaware 81-2621304 (State or other jurisdiction ...
Treace(TMCI) - 2025 Q4 - Annual Report
2026-02-27 12:14
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number 001-40355 TREACE MEDICAL CONCEPTS, INC. (Exact name of Registrant as specified in its Charter) Securities regis ...
Treace(TMCI) - 2025 Q4 - Annual Results
2026-02-27 12:10
Financial Results - Treace Medical Concepts, Inc. reported preliminary unaudited financial results for the quarter and year ended December 31, 2025[5]. Upcoming Events - The company plans to present at the J.P. Morgan Healthcare Conference on January 14, 2026, at 7:30 am Pacific Time[7]. - The investor presentation will be available on the company's investor relations website, providing insights for analysts and investors[7].
Fulgent Genetics(FLGT) - 2025 Q4 - Annual Results
2026-02-27 12:04
Exhibit 99.1 Fulgent Reports Fourth Quarter and Full Year 2025 Financial Results EL MONTE, CA, February 27, 2026 — Fulgent Genetics, Inc. (NASDAQ: FLGT) ("Fulgent," or the "Company"), a technology-based company with a well-established laboratory services business and a therapeutic development business, today announced financial results for its fourth quarter and full year ended December 31, 2025. Fourth Quarter 2025 Results: Full Year 2025 Results: Non-GAAP income (loss), non-GAAP income (loss) per share, a ...
1stdibs.com(DIBS) - 2025 Q4 - Annual Results
2026-02-27 12:03
Exhibit 99.1 1stDibs Reports Fourth Quarter and Full Year 2025 Financial Results New York, NY — February 27, 2026 — 1stdibs.com, Inc. (NASDAQ: DIBS), a leading online marketplace for luxury design products ("1stDibs" or the "Company"), today reported financial results for its fourth quarter and year ended December 31, 2025. Fourth Quarter 2025 Financial Highlights Full Year 2025 Financial Highlights "2025 was a year of accountability and execution, culminating in our first quarter of positive Adjusted EBITD ...