Financial Performance - Revenues for Q4 2025 totaled $19.513 billion, a 6.7% increase from $18.285 billion in Q4 2024[3] - Net income attributable to HCA Healthcare, Inc. rose 30.6% to $1.878 billion, or $8.14 per diluted share, compared to $1.438 billion, or $5.63 per diluted share, in Q4 2024[5] - Adjusted EBITDA for Q4 2025 was $4.114 billion, reflecting a 10.8% increase from $3.712 billion in Q4 2024[4] - For the year ended December 31, 2025, revenues totaled $75.600 billion, up from $70.603 billion in 2024[8] - Net income for the year 2025 was $7,782 million, representing a 16.9% increase from $6,657 million in 2024[24] - Comprehensive income attributable to HCA Healthcare, Inc. for 2025 was $6,866 million, compared to $5,798 million in 2024[24] - Total revenues for the year ended December 31, 2025, were $75,600 million, a 7.1% increase from $70,603 million in 2024[24] Cash Flow and Assets - Cash flows from operating activities in Q4 2025 were $2.359 billion, down from $2.559 billion in Q4 2024[10] - Cash and cash equivalents at the end of Q4 2025 were $1,040 million, down from $1,933 million at the end of Q4 2024[26] - Net cash provided by operating activities for 2025 was $12,636 million, an increase from $10,514 million in 2024[27] - Total assets as of December 31, 2025, were $60,720 million, compared to $59,513 million at the end of 2024[26] - Long-term debt as of December 31, 2025, was $41,603 million, an increase from $38,333 million at the end of 2024[26] Future Projections - The company expects 2026 revenues to range from $76.500 billion to $80.000 billion[15] - The estimated net income for 2026 is projected to be between $6.495 billion and $7.035 billion[15] - Adjusted EBITDA for 2026 is forecasted to be between $15,550 million and $16,450 million[36] - The forecast for revenues in 2026 is between $76,500 million and $80,000 million[36] - Projected net income attributable to HCA Healthcare, Inc. for 2026 is estimated to be between $6,495 million and $7,035 million[36] Operational Metrics - Same facility admissions increased by 2.4% and same facility equivalent admissions increased by 2.5% in Q4 2025 compared to the prior year[7] - Total admissions for Q4 2025 were 576,839, a 3.2% increase from 559,170 in Q4 2024[32] - Revenue per equivalent admission increased to $18,794 in Q4 2025, up 3.6% from $18,146 in Q4 2024[32] - The average length of stay decreased slightly to 4.696 days in Q4 2025 from 4.814 days in Q4 2024[32] - The number of hospitals remained stable at 190, with licensed beds increasing to 50,436 by the end of 2025[29] Shareholder Returns - HCA Healthcare's Board of Directors declared a quarterly cash dividend of $0.78 per share, payable on March 31, 2026[13] - The company authorized an additional share repurchase program for up to $10 billion of its outstanding common stock[12]

Revenue and Earnings - Total revenue for 2025 increased by 12% to $7.90 billion, with acquisition contribution at +7% and organic revenue growth at +5%[4] - GAAP net earnings for 2025 decreased by 1% to $1.54 billion, while adjusted net earnings increased by 9% to $2.16 billion[6] - Adjusted EBITDA for 2025 rose by 11% to $3.14 billion, with an adjusted EBITDA margin of 39.8%[6] - The company reported a decrease in GAAP DEPS by 1% to $14.20 for 2025, while adjusted DEPS increased by 9% to $20.00[6] - Net earnings for 2025 were $1,536.3 million, a slight decrease from $1,549.3 million in 2024, representing a decline of 0.9%[27] Cash Flow and Investments - Free cash flow for 2025 increased by 8% to $2.47 billion, and operating cash flow rose by 6% to $2.54 billion[6] - Cash provided by operating activities increased to $2,540.3 million in 2025, up from $2,393.2 million in 2024, reflecting a growth of 6.2%[27] - Cash used in investing activities was $3,388.0 million in 2025, compared to $3,468.5 million in 2024, indicating a decrease of 2.3%[27] - Cash provided by financing activities decreased to $923.6 million in 2025 from $1,069.5 million in 2024, a decline of 13.7%[27] - The company reported a net increase in cash and cash equivalents of $109.2 million for 2025, compared to a decrease of $26.1 million in 2024[28] Assets and Liabilities - Cash and cash equivalents increased to $297.4 million as of December 31, 2025, compared to $188.2 million a year earlier[23] - Total assets grew to $34,577.0 million in 2025, up from $31,334.7 million in 2024[23] - Long-term debt increased to $8,595.8 million in 2025, compared to $6,579.9 million in 2024[23] - Deferred revenue rose to $1,906.8 million in 2025, up from $1,737.4 million in 2024, indicating strong future revenue visibility[23] Quarterly Performance - Net revenues for Q4 2025 reached $2,058.6 million, a 9.7% increase from $1,877.1 million in Q4 2024[24] - Operating income for Q4 2025 was $588.3 million, a 12.1% increase from $524.7 million in Q4 2024[24] - Net earnings for Q4 2025 were $428.4 million, down from $462.3 million in Q4 2024, resulting in diluted earnings per share of $3.97[24] - Gross profit margin improved to 69.5% in Q4 2025, compared to 68.3% in Q4 2024[26] - The Application Software segment generated $1,158.9 million in Q4 2025, a 9.6% increase from $1,056.9 million in Q4 2024[26] Future Outlook - For 2026, the company expects adjusted DEPS to be between $21.30 and $21.55, with total revenue growth projected at approximately 8%[7] - The first quarter of 2026 is expected to yield adjusted DEPS of $4.95 to $5.00[7] Acquisitions and Strategic Focus - Roper Technologies deployed $3.3 billion towards high-quality vertical software businesses in 2025, including CentralReach and Subsplash[4] - The company made acquisitions of businesses totaling $3,290.0 million in 2025, down from $3,612.9 million in 2024, a decrease of 8.9%[27] - Roper is focused on enhancing AI capabilities and has a significant pipeline of attractive acquisition opportunities[5] Other Financial Metrics - Amortization of intangible assets increased to $858.4 million in 2025 from $775.7 million in 2024, a rise of 10.6%[27] - Proceeds from the sale of equity investments were $0 million in 2025, compared to $245.6 million in 2024, indicating a significant decline[27] - The effect of exchange rate changes on cash resulted in a positive impact of $33.3 million in 2025, contrasting with a negative impact of $20.3 million in 2024[28]

Financial Performance - Net income for Q4 2025 was $233.9 million, up from $211.3 million in Q3 2025, representing a 10.9% increase[1][2] - Adjusted net income for Q4 2025 was $224.2 million, excluding a partial reversal of the FDIC special assessment reserve of $9.7 million[1][12] - Earnings per share (EPS) increased to $3.53 in Q4 2025 from $3.15 in Q3 2025, reflecting a 12.1% growth[1][5] - Basic EPS for Q4 2025 increased to $3.53 from $3.15 in Q3 2025, and $2.51 in Q4 2024, representing a year-over-year growth of 40.6%[56] - Net income for the fourth quarter of 2025 was reported at $233.90 million, compared to $211.31 million in the same quarter last year, representing a year-over-year increase of 10.7%[59] Interest Income and Margin - Net interest income rose to $657.6 million in Q4 2025, an increase of $11.0 million compared to Q3 2025, driven by lower interest expenses and loan growth[1][16] - Total interest income for Q4 2025 was $955.49 million, a decrease of $11.16 million from Q3 2025, but an increase of $35.72 million compared to Q4 2024[58] - Net interest margin improved to 3.61% in Q4 2025, up from 3.51% in Q3 2025, indicating enhanced profitability on interest-earning assets[1][16] - The net interest margin on a taxable equivalent basis increased to 4.03% from 3.90%, reflecting a 0.13% improvement[61] - The net interest margin on a taxable equivalent basis improved to 4.03% in Q4 2025 from 3.62% in Q4 2024, an increase of 0.41%[63] Loan Portfolio - Total loans held-in-portfolio increased by $640.4 million to $39.3 billion from Q3 2025, with average quarterly loan balances up by $397.2 million[1][16] - Loans held-in-portfolio increased to $39.75 billion, an increase of $2.23 billion compared to the previous year[60] - Total loans increased to $733,464 million in Q4 2025 from $689,684 million in Q4 2024, representing a growth of $43,780 million[63] - Total loans held-in-portfolio increased to $39,327,518 thousand, a growth of $640,360 thousand or 1.66% from Q3 2025, and up $2,219,866 thousand or 5.98% from Q4 2024[70] Non-Performing Loans and Credit Losses - Non-performing loans (NPLs) decreased by $3.9 million from Q3 2025, with the NPLs to loans ratio improving to 1.27%[1][16] - Total non-performing loans decreased by $3.9 million to $498.3 million, with a non-performing loans to total loans ratio of 1.27%[34] - The allowance for credit losses (ACL) increased to $808.1 million, with an ACL to loans ratio of 2.05%[37] - Total non-performing assets decreased to $540,776 thousand, down from $545,152 thousand in the previous quarter[81] - New non-performing loans for the quarter ended December 31, 2025, amounted to $21,800 thousand, while non-performing loans charged-off totaled $3,044 thousand[83] Deposits and Liabilities - Deposits totaled $66.2 billion, a decrease of $323.3 million from Q3 2025, primarily due to a reduction in public deposits[1][16] - Total liabilities increased by $149.1 million from the third quarter of 2025, driven by higher unsettled U.S. Treasury securities purchases[45] - Total deposits decreased slightly to $66.19 billion, down by $323.31 million from the previous quarter[60] - Total liabilities increased to $69.10 billion, reflecting a rise of $149.06 million from the previous quarter[60] Stockholders' Equity - The Common Equity Tier 1 ratio stood at 15.72%, with tangible book value per share increasing to $82.65, up $3.53 from Q3 2025[1][4] - Stockholders' equity increased by $133.4 million compared to the third quarter of 2025, primarily due to net income of $233.9 million for the quarter[45] - Total stockholders' equity increased to $6,249,079 thousand as of December 31, 2025, up from $6,115,672 thousand in the previous quarter[95] - Total tangible common equity rose to $5,431,906 thousand, compared to $5,298,115 thousand in the prior quarter[95] Operating Expenses and Tax Rate - Operating expenses totaled $473.2 million, a decrease of $22.1 million compared to the previous quarter, excluding a partial reversal of the FDIC special assessment[26] - The effective tax rate for Q4 2025 was 16.0%, up from 14.5% in the previous quarter, with an adjusted effective tax rate of 17.8%[31] Market Capitalization - Market capitalization as of December 31, 2025, was $8.183 billion, down from $8.645 billion at the end of Q3 2025, but up from $6.597 billion at the end of Q4 2024[56]

Exhibit 99.1 Corporate Communications mediarelations@aa.com Investor Relations investor.relations@aa.com FOR RELEASE: Tuesday, Jan. 27, 2026 AMERICAN AIRLINES REPORTS FOURTH-QUARTER AND FULL-YEAR 2025 FINANCIAL RESULTS FORT WORTH, Texas — American Airlines Group Inc. (NASDAQ: AAL) today reported its fourth-quarter and full-year 2025 financial results, including: "American Airlines is positioned for significant upside in 2026 and beyond," said American's CEO Robert Isom. "We have built a strong foundation, a ...

Financial Performance - Invesco reported a fourth quarter diluted EPS of $(2.61) and an adjusted diluted EPS of $0.62, impacted by a non-cash intangible impairment of $1.8 billion[2][17]. - The adjusted operating margin for Q4 2025 was 36.4%, showing improvement despite the intangible impairment, while the operating margin was reported at (86.2)%[5][11]. - The company reported operating revenues of $1.692 billion for Q4 2025, a 3.1% increase from Q3 2025 and a 6.2% increase from Q4 2024[11][18]. - Adjusted net income attributable to Invesco Ltd. for 2025 was $922 million, up 17.9% from 2024, with adjusted diluted EPS increasing to $2.03[12][12]. - The company reported an operating loss of $695.7 million for 2025, compared to an operating income of $832.1 million in 2024[44]. - Net income attributable to Invesco Ltd. was a loss of $726.3 million, contrasting with a profit of $538.0 million in the previous year[44]. - Basic and diluted earnings per share (EPS) for 2025 were both $(1.60), compared to $1.18 in 2024[44]. - Adjusted operating income for the year was $1,557.8 million, up from $1,370.7 million in 2024, indicating improved operational performance[50]. - Adjusted diluted EPS for the year was $2.03, compared to $1.71 in 2024, reflecting a positive trend in adjusted earnings[51]. Assets and Liabilities - The company ended the quarter with record assets under management (AUM) of $2.2 trillion, reflecting a 2.1% increase from the prior quarter and a 17.5% increase year-over-year[4][12]. - Total assets increased to $2,169.9 billion, a 2.1% increase from the previous quarter and a 17.5% increase year-over-year[56]. - Total liabilities increased to $14,089.1 million as of December 31, 2025, from $11,340.1 million in 2024, representing a rise of 24.4%[65]. - Total equity attributable to Invesco Ltd. decreased to $12,231.0 million in 2025 from $14,559.9 million in 2024, a decline of 16.0%[65]. Cash Flow and Investments - Cash and cash equivalents reached $1,037.5 million at December 31, 2025, up from $973.1 million at September 30, 2025[31]. - Cash flows from operating activities for the year ended December 31, 2025, totaled $1,525.3 million, compared to $1,190.0 million in 2024, a growth of 28.2%[62]. - Cash flows from investing activities for the year ended December 31, 2025, were $(974.4) million, compared to $(240.0) million in 2024, indicating a significant increase in investment outflows[62]. - Cash flows from financing activities for the year ended December 31, 2025, were $(149.5) million, a decrease from $(1,661.6) million in 2024, showing a reduction in financing outflows[62]. - The company’s investments increased to $1,381.1 million as of December 31, 2025, from $1,240.0 million in 2024, reflecting an increase of 11.4%[65]. Revenue and Inflows - Invesco achieved net long-term inflows of $19.1 billion in Q4 2025, down from $28.9 billion in Q3 2025, with full-year inflows totaling $81.2 billion[5][6]. - Retail and institutional net long-term inflows were $10.2 billion and $8.9 billion, respectively, with significant contributions from ETFs and Index products[7][8]. - Long-term inflows for the twelve months ended December 31, 2025, reached $515.0 billion, a 22.9% increase compared to $419.0 billion in the previous year[56]. - Total net flows for the last quarter were $30.5 billion, a 16.9% increase from $26.1 billion in the previous quarter[56]. - Net long-term flows decreased by 33.9% to $19.1 billion in the last quarter, down from $28.9 billion in the previous quarter[56]. Operating Expenses - Total operating expenses rose significantly by 35.1% to $7,072.8 million, primarily due to a substantial increase in amortization and impairment of intangible assets[44]. - Operating expenses for Q4-25 were $3,150.1 million, an increase from $1,281.3 million in Q4-24, resulting in a year-over-year increase of 146.3%[53]. - Adjusted operating expenses for Q4-25 were $801.1 million, compared to $767.1 million in Q4-24, reflecting a 4.4% increase[53]. Market Position and Strategy - Invesco QQQ Trust converted to an open-end fund ETF on December 20, 2025, which is expected to enhance its market position[5]. - The company emphasized the importance of non-GAAP measures for assessing ongoing operational performance and making budgetary decisions[46]. - The company aims to improve net revenue yield on AUM, which is calculated as net revenues divided by average AUM during the reporting period[54].

Financial Performance - RTX reported fourth quarter 2025 sales of $24.2 billion, up 12% year-over-year, and full year sales of $88.6 billion, up 10% year-over-year[6][9] - GAAP EPS for Q4 2025 was $1.19, reflecting an 8% increase from $1.10 in Q4 2024, while full year GAAP EPS was $4.96, up 40% from $3.55[9][6] - Adjusted EPS for Q4 2025 was $1.55, a 1% increase from the prior year, and full year adjusted EPS was $6.29, up 10% year-over-year[6][9] - Net sales for Q4 2025 reached $24,238 million, a 12% increase from $21,623 million in Q4 2024[28] - Operating profit for Q4 2025 was $2,596 million, up 23% from $2,111 million in Q4 2024[28] - Net income attributable to common shareholders for Q4 2025 was $1,622 million, compared to $1,482 million in Q4 2024, reflecting a 9% increase[28] - Basic earnings per share (EPS) for Q4 2025 was $1.21, up from $1.11 in Q4 2024, representing a 9% growth[28] - Consolidated net sales for the quarter ended December 31, 2025, reached $24,238 million, an increase from $21,623 million in the same quarter of 2024, representing a growth of 7.5%[29] - Operating profit for the total segments was $3,060 million for the quarter ended December 31, 2025, compared to $2,434 million in the same quarter of 2024, reflecting a year-over-year increase of 25.6%[29] - Net income for the twelve months ended December 31, 2025, was $7,069 million, significantly higher than $5,013 million for the same period in 2024, representing a growth of 40.9%[31] - Total adjusted net sales for the twelve months ended December 31, 2025, reached $88,603 million, a 9.0% increase from $80,738 million in 2024[33] Cash Flow and Liquidity - Operating cash flow for Q4 2025 was $4.2 billion, with free cash flow of $3.2 billion, representing a 549% increase from $492 million in Q4 2024[9][8] - Free cash flow for the quarter ended December 31, 2025 was $3,195 million, a significant increase from $492 million in the same quarter of 2024[38] - For the twelve months ended December 31, 2025, free cash flow reached $7,940 million, compared to $4,534 million in 2024, reflecting a year-over-year growth of 75%[38] - The company reported a net cash flow from operating activities of $4,165 million for the quarter ended December 31, 2025, compared to $1,561 million in the same quarter of 2024, indicating a substantial increase of 167.5%[31] - The company reported net cash flows from operating activities of $10,567 million for the twelve months ended December 31, 2025, up from $7,159 million in 2024[38] Segment Performance - Collins Aerospace reported Q4 2025 sales of $7.736 billion, up 3% year-over-year, driven by a 9% increase in commercial OE and a 13% increase in commercial aftermarket[11][12] - Pratt & Whitney's Q4 2025 sales were $9.496 billion, a 25% increase year-over-year, supported by a 28% rise in commercial OE and a 30% increase in military sales[16][17] - Raytheon reported Q4 2025 sales of $7.657 billion, up 7% year-over-year, driven by higher volume in land and air defense systems[18][19] - Collins Aerospace segment reported net sales of $7,736 million for the quarter, an increase from $7,537 million in the same quarter of 2024[32] - Pratt & Whitney segment net sales increased to $9,496 million from $7,569 million year-over-year, reflecting a growth of 25.5%[32] - Raytheon segment net sales were $7,657 million, up from $7,157 million in the same quarter of 2024, marking a 7.0% increase[32] Guidance and Future Outlook - For full year 2026, RTX expects adjusted sales between $92.0 billion and $93.0 billion, with organic sales growth projected at 5% to 6%[6] - Adjusted EPS guidance for 2026 is estimated to be between $6.60 and $6.80, with free cash flow expected to be between $8.25 billion and $8.75 billion[6] - The company anticipates continued growth in adjusted net sales and operating profit, although specific forward-looking guidance is subject to variability[25] Costs and Expenses - The total costs and expenses for Q4 2025 were $21,948 million, an increase from $19,770 million in Q4 2024[28] - Interest expense for Q4 2025 was $400 million, down from $486 million in Q4 2024, indicating improved cost management[28] - Research and development expenses for Q4 2025 were $789 million, slightly down from $808 million in Q4 2024[28] Strategic Initiatives - The company is focused on strategic initiatives such as digital transformation and operational efficiency to enhance future performance[25] - The company’s backlog reached $268 billion, with $161 billion in commercial and $107 billion in defense[6] Balance Sheet Highlights - Cash and cash equivalents increased to $7,435 million as of December 31, 2025, up from $5,578 million a year earlier, marking a growth of 33.3%[30] - Total assets rose to $171,079 million as of December 31, 2025, compared to $162,861 million in 2024, indicating an increase of 5.5%[30] - Total current liabilities increased to $58,784 million as of December 31, 2025, from $51,499 million in 2024, reflecting a rise of 14.2%[30] - Total liabilities amounted to $103,941 million as of December 31, 2025, up from $100,903 million in 2024, which is an increase of 2.0%[30] - The company’s total equity increased to $67,102 million as of December 31, 2025, compared to $61,923 million in 2024, representing a growth of 8.4%[30] Non-Recurring Items - The company incurred a net pre-tax charge of approximately $0.1 billion related to a customer bankruptcy at Pratt & Whitney for the twelve months ended December 31, 2025[45] - A pre-tax gain of $0.1 billion was recorded for the sale of the Simmonds Precision Products business at Collins during the quarter ended December 31, 2025[45] - The twelve months ended December 31, 2025 included a non-cash pre-tax pension settlement charge of $0.3 billion related to a buy-out conversion of a group annuity contract[46]

Sales Performance - Fourth quarter 2025 sales increased 10% to $11.7 billion, compared to $10.7 billion in Q4 2024[2] - Full-year 2025 sales rose 2% to $42.0 billion, up from $41.0 billion in 2024, with organic sales increasing 3% to $41.8 billion[2][3] - Fourth quarter 2025 sales increased by $591 million, or 18 percent, primarily due to a $274 million increase on the F-35 program and a $153 million increase on the E-130J TACAMO program [22] - Total sales for 2025 reached $41,954 million, an increase from $41,033 million in 2024 and $39,290 million in 2023[57] Earnings and Profitability - Fourth quarter 2025 net earnings were $1.4 billion, or $9.99 per diluted share, while full-year net earnings were $4.2 billion, or $29.08 per diluted share[2][3] - 2025 net earnings were comparable to the prior year, reflecting a $141 million increase in operating income, partially offset by a $115 million decrease in non-operating FAS pension benefit [16] - Net earnings for 2025 were $4,182 million, compared to $4,174 million in 2024 and $2,056 million in 2023[57] - Basic earnings per share for 2025 were $29.14, up from $28.39 in 2024 and $13.57 in 2023[57] Operating Income and Margins - Operating income for Q4 2025 increased 17% to $1.3 billion, with an operating margin rate of 10.9%[3] - Segment operating income for Q4 2025 increased 10%, with a segment operating margin rate of 11.2%[3][9] - Fourth quarter 2025 operating margin rate for Aeronautics Systems was 9.4 percent, comparable to the prior year, while the overall segment operating margin rate was 11.2 percent [1] - Fourth quarter 2025 operating income for Mission Systems increased by $41 million, or 9 percent, with an operating margin rate of 14.8 percent [36] - Fourth quarter 2025 operating income for Space Systems increased by $47 million, or 17 percent, with an operating margin rate of 11.3 percent [41] Cash Flow and Capital Expenditures - Operating cash flow for 2025 was $4.8 billion, with free cash flow of $3.3 billion[3] - Fourth quarter 2025 free cash flow increased by $1.5 billion, or 84 percent, driven by higher net cash from operating activities and lower capital expenditures [17] - Capital expenditures for 2025 were $1,450 million, down from $1,767 million in 2024[63] - Free cash flow for 2025 was calculated as net cash provided by operating activities minus capital expenditures, indicating strong cash performance[77] Backlog and Future Projections - The backlog reached a record $95.7 billion, driven by a full-year book-to-bill ratio of 1.10[3] - Total backlog as of the end of 2025 was $95.7 billion, with significant new awards including $4.0 billion for restricted programs and $1.3 billion for F-35 [18] - The company projects mid-single digit sales growth for 2026, supported by a strong backlog[3] - The company projects 2026 sales between $43,500 million and $44,000 million, with segment operating income expected to be between $4,850 million and $5,000 million[46] Tax and Shares - The effective income tax rate for 2025 was 17.5%, compared to 16.8% in 2024[6] - The weighted-average diluted shares outstanding decreased to 142.9 million in 2025 from 145.9 million in 2024[71] Assets and Debt - Total assets increased to $51,377 million in 2025 from $49,359 million in 2024[60] - Net proceeds from the issuance of long-term debt in 2025 were $998 million, a decrease from $2,495 million in 2024[63] - Cash and cash equivalents at the end of 2025 were $4,403 million, up from $4,353 million at the end of 2024[63]

Exhibit 99.1 Kimberly-Clark Reports Strong Finish to Second Year of Transformation 2025 results show further momentum from Powering Care strategy, supporting further strategic transformation 2026 outlook reflects continued organic growth and operating momentum as transformation progresses DALLAS, January 27, 2026 - Kimberly-Clark Corporation (Nasdaq: KMB) today reported fourth quarter and full year 2025 results that reflect the momentum of its innovation-driven, volume-plus-mix led growth model. These are s ...

Financial Performance - JetBlue reported operating revenue of $2.2 billion for Q4 2025, a decrease of 1.5% year-over-year, and total operating revenue of $9.1 billion for the full year 2025, down 2.3% year-over-year[9][7]. - Total operating revenues for Q4 2025 were $2,244 million, a decrease of 1.5% compared to $2,277 million in Q4 2024[16]. - Passenger revenues decreased by 2.2% to $2,053 million in Q4 2025 from $2,100 million in Q4 2024[16]. - Total operating expenses increased by 3.7% to $2,344 million in Q4 2025, compared to $2,260 million in Q4 2024[16]. - Operating income for Q4 2025 was a loss of $100 million, compared to a profit of $17 million in Q4 2024[16]. - Net loss for the year 2025 was $602 million, an improvement of 24.3% from a net loss of $795 million in 2024[16]. - The net loss for Q4 2025 was $177 million, compared to a net loss of $44 million in Q4 2024[37]. - Loss per share for Q4 2025 was $0.48, compared to $0.13 in Q4 2024[37]. - Total operating expenses for the twelve months ended December 31, 2025, were $9,430 million, a decrease of 5.3% from $9,963 million in 2024[30]. - Operating expenses excluding fuel for the twelve months ended December 31, 2025, were $7,278 million, an increase of 4.4% from $6,969 million in 2024[30]. - The adjusted operating margin for Q4 2025 was (4.4)%, compared to 0.8% in Q4 2024[35]. - Special items for 2025 included severance expenses and other costs, impacting overall financial metrics[31]. Capacity and Revenue Metrics - Capacity decreased by 1.6% year-over-year in Q4 2025, with a full-year capacity decrease of 1.6% as well[9]. - Revenue passengers decreased by 2.2% to 9,718 thousand in Q4 2025 from 9,942 thousand in Q4 2024[18]. - Average fare remained relatively stable at $211.23 in Q4 2025 compared to $211.18 in Q4 2024[18]. - Operating revenue per available seat mile (RASM) increased by 0.2% year-over-year in Q4 2025, outperforming guidance which anticipated a decrease of 4.0% to flat[9]. Liquidity and Debt - JetBlue ended Q4 2025 with $2.5 billion in liquidity, representing approximately 27% of trailing twelve-month revenue[9]. - Total debt as of December 31, 2025, was $8,498 million, a slight decrease from $8,539 million in 2024[20]. - Cash and cash equivalents increased to $1,946 million as of December 31, 2025, compared to $1,921 million in 2024[20]. Capital Expenditures and Future Projections - The company strategically reduced capital expenditures by approximately $3 billion for the period 2026-2029 since 2023[5]. - Capital expenditures for 2025 totaled $1,122 million, down from $1,619 million in 2024[22]. - For Q1 2026, JetBlue expects available seat miles (ASMs) to increase by 0.5% to 3.5%, with RASM projected to grow by 0.0% to 4.0%[10]. Customer Satisfaction and Strategic Initiatives - JetBlue's Net Promoter Score increased by eight points year-over-year, reflecting improved customer satisfaction[5]. - JetBlue plans to execute critical milestones for its Blue Sky collaboration with United Airlines, enhancing loyalty programs and operational efficiencies[3][9]. Incremental EBIT Contribution - JetForward delivered $305 million of incremental EBIT in 2025, exceeding the initial target of $290 million, and is projected to contribute an additional $310 million in 2026, aiming for a total of $850 to $950 million by 2027[4][3].

Exhibit 99.2 United Parcel Service, Inc. Selected Financial Data - Fourth Quarter (unaudited) | | | | Three Months Ended | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | December 31, | | | | | | | | 2025 | | 2024 | | Change | % Change | | (amounts in millions, except per share data) | | | | | | | | | Statement of Income Data: | | | | | | | | | Revenue: | | | | | | | | | U.S. Domestic Package | $ | 16,756 | $ | 17,312 | $ | (556) | (3.2)% | | International Package | | 5,045 | | 4,923 | | 1 ...