Financial Performance - Net sales for Q4 2025 were $1,541 million, a decrease of 8.7% compared to Q4 2024's $1,708 million[1]. - Gross margin for Q4 2025 was $161 million, down from $304 million in Q4 2024, representing a decline of 47%[1]. - Operating income for Q4 2025 was $251 million, compared to $141 million in Q4 2024, an increase of 78.7%[1]. - Net earnings for Q4 2025 were $74 million, a decrease of 8.4% from $81 million in Q4 2024[1]. - Adjusted EBITDA for Q4 2025 was $140 million, down from $294 million in Q4 2024, a decline of 52.4%[3]. - Earnings per share (diluted) for Q4 2025 was $0.10, compared to $0.11 in Q4 2024, a decrease of 9.1%[2]. - Year-to-date net earnings for 2025 totaled $324 million, down from $396 million in 2024, a decrease of 18.2%[5]. - Total net sales for Q4 2025 reached $487 million, a slight increase from $497 million in Q4 2024, with year-to-date sales of $2,086 million compared to $2,066 million in 2024[11]. - Operating income for Q4 2025 was $316 million, significantly higher than $62 million in Q4 2024, contributing to a year-to-date operating income of $586 million compared to $279 million in 2024[11]. - Total net sales year-to-date for 2025 were $4,957 million, compared to $5,221 million in 2024[21]. Costs and Expenses - Total costs of sales for Q4 2025 were $1,380 million, compared to $1,404 million in Q4 2024, a slight decrease of 1.7%[1]. - The company reported a gain on the sale of timberlands of $(266) million in Q4 2025, impacting net earnings significantly[5]. - Cash flows from operations for the year-to-date 2025 totaled $562 million, a decrease from $1,008 million in 2024, with Q4 2025 showing a net cash outflow of $114 million[9]. - The company reported pension and post-employment costs of $239 million for the year-to-date 2025, up from $63 million in 2024, indicating increased liabilities in this area[9]. - The company reported a net charge to earnings of $(99) million in Q1.2025, compared to $(74) million in Q4.2024, indicating a worsening of 33.8%[27]. Assets and Liabilities - Total assets as of December 31, 2025, were $16,613 million, compared to $16,536 million at the end of 2024, indicating a stable asset base[8]. - Current liabilities increased to $1,278 million in Q4 2025 from $977 million in Q4 2024, reflecting a rise in short-term financial obligations[8]. - Cash and cash equivalents at the end of Q4 2025 were $481 million, down from $684 million at the end of 2024, highlighting a decrease in liquidity[9]. - The company reported a total increase in working capital of $66 million in Q4.2025, compared to a decrease of $35 million year-to-date in 2024[23]. Capital Expenditures and Investments - Capital expenditures for property and equipment in 2025 totaled $423 million, an increase from $364 million in 2024, indicating ongoing investment in infrastructure[9]. - The company plans to continue focusing on timberland acquisitions, with $469 million spent in Q4 2025, reflecting a strategic move to enhance its asset portfolio[9]. - Cash spent for capital expenditures in Q4.2025 was $110 million, with a total of $353 million for the year[23]. Sales and Production Volumes - Total delivered logs for Q4.2025 amounted to 336 thousand tons, up from 306 thousand tons in Q4.2024[15]. - Structural Lumber third-party net sales increased to $527 million in Q1.2025 from $420 million in Q4.2024, representing a 25.6% growth[24]. - Oriented Strand Board third-party net sales decreased to $228 million in Q1.2025 from $230 million in Q4.2024, a decline of 0.9%[24]. - Engineered Solid Section third-party net sales were $161 million in Q2.2025, up from $157 million in Q4.2024, indicating a 2.5% increase[24]. - Medium Density Fiberboard third-party net sales increased to $32 million in Q1.2025 from $28 million in Q4.2024, a rise of 14.3%[24]. - Total production volumes for Structural Lumber in YTD.2025 were 4,547 million board feet, up from 4,404 million board feet in YTD.2024, a growth of 3.2%[24]. Real Estate Performance - Real estate net sales in Q4.2025 were $73 million, an increase from $60 million in Q4.2024[20]. - The price per acre for real estate sold in Q4.2025 was $8,271, significantly higher than $2,806 in Q4.2024[20].

Financial Performance - Net income for 2025 was $36,572,000, an increase of $8,754,000 or 31.5% compared to 2024, driven by higher net interest income [2]. - Total net income for 2025 was $36.6 million, an increase of 31.5% from $27.8 million in 2024 [12]. - Net income for the three months ended December 31, 2025, was $10,483 thousand, up 31.4% from $7,983 thousand in the same period of 2024 [24]. - Basic earnings per share rose to $7.62 in 2025, a 31.4% increase from $5.80 in 2024 [12]. - Annualized return on average assets (GAAP) improved to 1.37% from 1.06% year-over-year [24]. Net Interest Income - Net interest income before the provision for credit losses was $98,001,000 for 2025, a 13.4% increase from 2024, primarily due to increased investment income and decreased interest expense [2]. - Net interest income for 2025 was $98.0 million, up from $86.5 million in 2024, reflecting a net interest margin of 3.50% [14]. - For the three months ended December 31, 2025, net interest income increased to $26,529 thousand, compared to $23,121 thousand for the same period in 2024, reflecting a growth of 10.4% [16]. - Net interest income (fully taxable equivalent) for the three months ended December 31, 2025, was $26,529 thousand, up from $23,121 thousand, a growth of 10.4% [25]. Assets and Loans - Total assets as of December 31, 2025, were $3.06 billion, an increase from $3.03 billion at the end of 2024, with a loan to deposit ratio of 98.89% [7]. - Total assets reached $3.06 billion as of December 31, 2025, compared to $3.03 billion in 2024 [13]. - Net loans increased to $2.33 billion as of December 31, 2025, up $36.3 million from 2024, mainly due to increased commercial loan activity [7]. - Total loans as of December 31, 2025, reached $2,350,622 thousand, an increase from $2,313,242 thousand a year earlier, representing a growth of 1.6% [22]. - The loan to deposit ratio was 98.89% as of December 31, 2025, compared to 97.11% in 2024 [12]. Credit Losses and Non-Performing Assets - The provision for credit losses for 2025 was $2,375,000, a decrease of $212,000 from 2024, influenced by economic forecasts and specific reserves for non-accrual loans [4]. - The allowance for credit losses on loans was $22,806,000 at December 31, 2025, an increase of $1,107,000 from 2024 [7]. - Non-performing assets totaled $29.2 million as of December 31, 2025, an increase of $578,000 since December 31, 2024 [7]. - Non-performing loans increased to $26,831 thousand from $20,560 thousand, representing a rise of 30.5% [23]. - Total non-performing assets increased to $29,189 thousand from $22,994 thousand, a rise of 27.1% [23]. Stockholders' Equity and Dividends - Stockholders' equity increased by $38.3 million to $338.1 million as of December 31, 2025, compared to $299.7 million in 2024 [11]. - A cash dividend of $0.50 per share was declared on December 2, 2025, representing a 3.1% increase over the previous year's dividend [8]. - Cash dividends paid per share increased to $1.980 in 2025 from $1.931 in 2024 [12]. Other Financial Metrics - Return on average equity for 2025 was 11.51%, up from 9.59% in 2024, while return on average tangible equity was 15.94%, compared to 13.84% in 2024 [2]. - Return on average assets (annualized) improved to 1.21% in 2025 from 0.93% in 2024 [12]. - The net interest spread for the year ended December 31, 2025, was 2.97%, up from 2.56% in 2024, indicating improved profitability on interest-earning assets [19]. - The average yield on taxable investment securities increased to 3.26% for the three months ended December 31, 2025, from 2.70% in the same period of 2024 [16]. - The ratio of interest-earning assets to interest-bearing liabilities improved to 125% for the three months ended December 31, 2025, compared to 123% in the same period of 2024 [16].

Revenue and Sales Performance - Net revenue for the year ended December 31, 2025, was $467.6 million, driven by sales of RF receivers, connectivity solutions, and optical interconnect solutions [335]. - Products shipped to Asia accounted for 82% of net revenue in 2025, with significant contributions from Hong Kong (49%) and Vietnam (12%) [336]. - Two customers accounted for 28% of net revenue in 2025, while the top ten customers collectively represented 65% of total revenue [337]. - Net revenue increased by $107.1 million to $467.6 million for the year ended December 31, 2025, compared to $360.5 million for 2024, driven by demand in broadband, connectivity, and infrastructure markets [364]. - Industrial and multi-market revenue decreased by $37.0 million, driven by a reduced volume of shipments, while broadband revenue increased by $87.6 million [364]. Costs and Expenses - The company incurred $24.5 million in restructuring costs during 2025, including $17.1 million related to CAD software licenses and $6.9 million in severance costs [343]. - Gross profit improved to 57% of net revenue in 2025, up from 54% in 2024, with gross profit amounting to $265.8 million, an increase of $71.0 million [366]. - Research and development expenses decreased by $16.6 million to $208.6 million in 2025, representing 45% of net revenue, down from 62% in 2024 [367]. - Selling, general and administrative expenses rose by $21.3 million to $159.6 million in 2025, accounting for 34% of net revenue, compared to 38% in 2024 [369]. - Restructuring charges decreased by $28.9 million to $24.5 million in 2025, representing 5% of net revenue, down from 15% in 2024 [371]. - Cost of net revenue increased by $36.1 million to $201.8 million in 2025, representing 43% of net revenue, down from 46% in 2024 [366]. Cash Flow and Financial Position - As of December 31, 2025, the company had cash and cash equivalents of $72.8 million, restricted cash of $28.6 million, and net accounts receivable of $46.1 million [380]. - The company's working capital as of December 31, 2025, was $62.8 million, a decrease from $141.2 million in 2024 [390]. - Net cash provided by operating activities for the year ended December 31, 2025, was $19.6 million, compared to a net cash used of $45.3 million in 2024 [392]. - The company recorded net cash used in investing activities of $19.8 million for the year ended December 31, 2025, down from $23.4 million in 2024 [393]. - Net cash used in financing activities was $18.7 million for the year ended December 31, 2025, primarily due to common stock repurchases of $20.0 million [394]. - As of December 31, 2025, the company's total indebtedness was $125.0 million under a senior secured term B loan facility [390]. - The company has a senior secured revolving credit facility of up to $100.0 million, which remained undrawn as of December 31, 2025 [382]. - The company anticipates that its cash, cash equivalents, and restricted cash of $101.4 million will be sufficient to fund projected operating requirements for at least the next twelve months [390]. Tax and Valuation - The income tax benefit for 2025 was $4.2 million, compared to a provision of $6.5 million in 2024, reflecting a change of $10.7 million [375]. - The company recorded a full valuation allowance against its Singapore deferred tax assets, resulting in no income tax provision recorded in Singapore for the year ended December 31, 2024 [379]. Market and Operational Insights - The company is experiencing growth in sales demand across broadband and connectivity markets, driven by new product wins and recovery from excess inventory [335]. - The company continues to innovate with new products in advanced semiconductor process nodes such as 16nm and 5nm [335]. - The sales cycle for the company's products is lengthy, with product life cycles varying from 24 to 84 months depending on the market [338]. - Revenue recognition estimates involve significant uncertainty, particularly regarding price adjustments and returns based on historical data [349]. - The company expects revenue to fluctuate in the future, consistent with the cyclical nature of the industry [365]. Interest Rate and Currency Risks - The company may face substantial variable interest rate risk due to its term loans, which could adversely affect its operating results if interest rates increase significantly [383]. - The company is subject to variable interest rates on credit agreements and could be adversely impacted by high interest rates in the future [399]. - A 10% increase in SOFR interest rates would result in an immaterial increase in interest expense [399]. - The company believes its operating cash is sufficient to cover interest obligations but is monitoring the impact of high interest rates on financing and business operations [399]. - The company has limited exposure to foreign currency exchange rates as most international agreements are denominated in United States dollars [398]. - A hypothetical change of 100 basis points in foreign currency exchange rates would result in a translation gain change of approximately $0.9 million [398].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ______________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period 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 1-5397 __________________________ AUTOMATIC DATA PROCESSING, INC. (Exact name of registrant as specified in its charter) ____ ...

Exhibit 99.1 TFS Financial Corporation Announces First Quarter Fiscal Year 2026 Results (Cleveland, OH - January 29, 2026) - TFS Financial Corporation (NASDAQ: TFSL) (the "Company"), the holding company for Third Federal Savings and Loan Association of Cleveland (the "Association"), today announced results for the quarter ended December 31, 2025. "We have had a positive start to our fiscal year as we quickly adapted to three recent Fed rate cuts," said Chairman and CEO Marc A. Stefanski. "Our net interest i ...

Exhibit 99.1 Sandisk Reports Fiscal Second Quarter 2026 Financial Results News Summary MILPITAS, Calif. — January 29, 2026 — Sandisk Corporation (Nasdaq: SNDK) today reported fiscal second quarter financial results. "This quarter's performance underscores our agility in capitalizing on better product mix, accelerating enterprise SSD deployments, and strengthening market demand dynamics, all at a time when the critical role that our products play in powering AI and the world's technology is being recognized, ...

Financial Performance - Net income for Q4 2025 was $5.3 million, with diluted EPS of $0.60, while adjusted net income was $5.6 million and adjusted diluted EPS was $0.64[4]. - Net income for the three months ended December 31, 2025, was $5,289,000, a significant improvement from a net loss of $41,593,000 in the previous quarter[17]. - Earnings per share (diluted) increased to $0.60 for the three months ended December 31, 2025, compared to a loss of $4.76 in the prior quarter[17]. - Diluted earnings per share for 2026 are anticipated to be in the range of $2.35 to $2.45[13]. - Adjusted diluted earnings per share for Q4 2025 was $0.64, compared to a loss of $1.43 in Q3 2025[27]. Revenue and Income - Total revenue for Q4 2025 was $41.7 million, with adjusted total revenue increasing 21% year-over-year to $42.1 million[4]. - Total interest income for the three months ended December 31, 2025, was $78,054,000, a decrease from $84,388,000 in the previous quarter[19]. - Noninterest income for the three months ended December 31, 2025, was $11,375,000, a recovery from a loss of $24,647,000 in the previous quarter[19]. - Adjusted total revenue for the twelve months ended December 31, 2025, is $154,706,000, up from $129,989,000 in the previous year[25]. Assets and Loans - Total assets decreased to $5,571,647,000 as of December 31, 2025, from $5,639,174,000 at the end of the previous quarter[18]. - Total loan balances reached $3.7 billion, up $143.2 million, or 4%, from Q3 2025, driven by strong production in single tenant lease financing and construction[6]. - Total loans amounted to $3,746,728 thousand as of December 31, 2025, a decrease of 10.2% from $4,170,646 thousand in December 2024[22]. Deposits and Ratios - Total deposits were $4.8 billion, a slight decrease from $4.9 billion in Q3 2025, with a loans to deposits ratio of 77.4%[6]. - Total deposits decreased to $4,839,813,000 as of December 31, 2025, from $4,915,434,000 at the end of the previous quarter[18]. - Interest-bearing demand deposits increased to $1,120,850 thousand, representing 23.2% of total deposits as of December 31, 2025, up from 18.2% in December 2024[22]. Credit Losses and Provisions - Provision for credit losses for Q4 2025 was $12.0 million, down 66% from Q3 2025, with net charge-offs to average loans improving to 1.68%[6]. - Provision for credit losses increased significantly to $11,984,000 for the three months ended December 31, 2025, from $7,201,000 in the same period last year[19]. - The allowance for credit losses on loans was 1.49% as of December 31, 2025, compared to 1.66% in the previous quarter[17]. Margins and Returns - Net interest income rose 29% year-over-year to $30.3 million, with a fully-taxable equivalent net interest margin of 2.30%, an increase of 55 basis points from the prior year[4]. - The net interest margin increased to 2.22% for the three months ended December 31, 2025, up from 2.04% in the previous quarter[17]. - Return on average assets improved to 0.37% for the three months ended December 31, 2025, compared to a negative return of (2.71%) in the previous quarter[17]. - Return on average shareholders' equity was 5.79% for the three months ended December 31, 2025, compared to (42.11%) in the previous quarter[17]. Future Outlook - The company expects continued loan growth of 15% to 17% in 2026, with FTE net interest margin projected to expand to 2.75% to 2.80% by Q4 2026[13]. - The outlook for FTE net interest income in 2026 is between $155 million and $160 million, with noninterest income expected to be $33 million to $35 million[13]. - Operating expenses for 2026 are projected to be between $111 million and $112 million, with a provision for credit losses expected to be $50 million to $53 million[13].

Acquisition and Mergers - The company entered into a definitive agreement to be acquired by Blackstone Inc. and TPG Capital for $76.00 per share in cash, with a potential total consideration of $79.00 per share including a contingent value right[116] - The acquisition of Gynesonics was completed for a purchase price of $340.7 million, with $146.1 million allocated to intangible assets and $192.2 million to goodwill[120] - The company faces risks related to regulatory approvals, market conditions, and potential disruptions from the merger process[116] Business Segments - The company operates in four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health, focusing on women's health and well-being[108] - The Diagnostics segment includes molecular diagnostic assays and systems, with a focus on detecting STDs and other infectious diseases[109] - The Breast Health segment offers advanced breast imaging solutions, including 3D digital mammography systems and AI-based image analysis software[112] - The GYN Surgical segment features products like the MyoSure and NovaSure systems for treating uterine conditions, enhancing surgical options[113] - The Skeletal Health segment includes the Horizon DXA system for bone density evaluation, although the sale of Fluoroscan Insight FD systems will be discontinued[114] Financial Performance - Product revenues increased by $13.5 million, or 1.7%, to $831.4 million in the current quarter compared to $817.9 million in the prior year, driven by increases in GYN Surgical and Skeletal Health revenues[122] - Diagnostics product revenues decreased by $3.7 million, or 0.8%, primarily due to lower sales of SARS-CoV-2 assays and a decrease in Aptima CT/NG and HPV assays[123] - Breast Health product revenues decreased by $4.7 million, or 2.2%, mainly due to lower sales of digital mammography systems and Brevera 9 Gauge Needles, which were subject to a stop-ship[124] - GYN Surgical product revenues increased by $13.2 million, or 8.0%, primarily due to the Gynesonics acquisition, contributing $9.1 million[125] - Skeletal Health product revenues surged by $8.7 million, or 124.3%, due to increased sales volume of Horizon DXA systems[126] - Service and other revenues increased by $12.5 million, or 6.1%, to $216.4 million, driven by higher Breast Health service contract revenue[128] Expenses and Costs - Cost of product revenues increased by $20.8 million, or 6.9%, to $362.9 million, with the cost as a percentage of product revenues rising to 43.6% from 42.4%[130] - Operating expenses totaled $349.4 million, a decrease of $1.3 million, with selling and marketing expenses down by 6.7%[137] - General and administrative expenses rose by 10.5% to $127.8 million, primarily due to increased acquisition transaction expenses and compensation[139] - Research and development expenses increased slightly by 0.4% to $60.5 million, influenced by consulting spend related to quality organization and Gynesonics acquisition expenses[137] Interest and Income - Interest income decreased by $4.5 million (18.6%) to $19.7 million for the three months ended December 27, 2025, compared to $24.2 million in the prior year, primarily due to lower interest rates[142] - Interest expense increased by $2.9 million (9.5%) to $30.5 million for the three months ended December 27, 2025, compared to $27.6 million in the prior year, mainly due to a lower principal balance under the 2025 Credit Agreement[143] - Other income decreased significantly by $23.4 million to $0.6 million for the three months ended December 27, 2025, compared to $24.0 million in the prior year, primarily due to a loss from a strategic investment[144] - Provision for income taxes increased by $4.1 million (8.8%) to $50.6 million for the three months ended December 27, 2025, with an effective tax rate of 22.0% compared to 18.8% in the prior year[145] Segment Revenues and Operating Income - Total revenues in the Diagnostics segment decreased by $6.2 million (1.3%) to $464.4 million for the three months ended December 27, 2025, while operating income increased by $2.0 million (1.3%) to $157.5 million[148] - Total revenues in the Breast Health segment increased by $6.8 million (1.8%) to $375.9 million for the three months ended December 27, 2025, with operating income rising by $13.1 million (14.6%) to $102.8 million[150] - Total revenues in the GYN Surgical segment increased by $14.5 million (8.7%) to $180.8 million for the three months ended December 27, 2025, but operating income decreased by $18.1 million (30.9%) to $40.5 million[152] - Total revenues in the Skeletal Health segment increased significantly by $10.9 million (69.0%) to $26.7 million for the three months ended December 27, 2025, while operating income improved by $5.9 million[154] Debt and Liquidity - As of December 27, 2025, the company had total recorded debt outstanding of $2.51 billion, including $1.167 billion under the 2025 Credit Agreement[161] - Cash and cash equivalents increased by $208.5 million to $2,168.0 million during the first three months of fiscal 2026, primarily due to cash generated from operating activities[156] - The total principal balance of the 2028 Senior Notes is $400.0 million, maturing on February 1, 2028, with an interest rate of 4.625% per year[166] - The total principal balance of the 2029 Senior Notes is $950.0 million, maturing on February 15, 2029, with an interest rate of 3.250% per year[168] - A new stock repurchase program was authorized for up to $1.5 billion, with $937.5 million remaining unused as of December 27, 2025[169] - As of December 27, 2025, the fair value of the 2028 Senior Notes is approximately $400.0 million and the 2029 Senior Notes is approximately $938.7 million[176] - The aggregate principal outstanding under the 2025 Credit Agreement is $1.169 billion, which is subject to variable interest rates[178] - A hypothetical 10% increase in the SOFR rate would increase annual interest expense by approximately $2.5 million[178] - A hypothetical 100 basis point change in market rates would change annual interest income by approximately $19.4 million based on current cash and investment balances[179] - Future liquidity is contingent upon operating performance and may require additional capital for acquisitions or strategic transactions[172] Risk Factors - Future performance may be impacted by macroeconomic factors such as inflation and interest rates, affecting customer and supplier relationships[116] - The company is focused on maintaining compliance with evolving regulations and quality standards in its product offerings[116] - The company has executed forward foreign currency contracts to hedge a portion of operating results against currency exchange rate fluctuations[180] - The company believes that a hypothetical 10% increase or decrease in foreign currencies would not have a material adverse impact on its financial condition or results of operations[181]

Financial Outlook - Olin Corporation announced an updated outlook for Q4 2025 on January 8, 2026[6] - The press release includes financial results and operational performance metrics for the fourth quarter ended December 31, 2025[6] - Specific financial figures and percentage changes will be detailed in the attached press release (Exhibit 99.1)[7]

Exhibit 99.1 DECKERS BRANDS REPORTS THIRD QUARTER FISCAL YEAR 2026 FINANCIAL RESULTS Goleta, California (January 29, 2026) -- Deckers Brands (NYSE: DECK), a global leader in designing, marketing, and distributing innovative footwear, apparel, and accessories, today announced financial results for the third fiscal quarter ended December 31, 2025. The Company also provided an update to its financial outlook for the full fiscal year ending March 31, 2026. "Deckers produced record revenue and earnings per share ...