Financial Performance - Net sales for Q4 2025 were $594 million, representing a 12% increase year-over-year, with organic growth contributing 7%[4] - Full year 2025 net sales reached $2,386 million, a 9% increase year-over-year, with organic growth contributing 6%[4] - Adjusted diluted earnings per share for Q4 2025 were $2.69, while the full year adjusted diluted EPS was $10.68, reflecting a 34% increase year-over-year[4] - For Q1 2026, the company expects net sales in the range of $625 - $645 million, indicating approximately 15% total revenue growth compared to the prior year[5] - The Electronics Segment saw a 21% increase in net sales for Q4 2025, driven by improved passive products and semiconductor demand[7] - The Transportation Segment's net sales increased by 1% in Q4 2025, with organic sales decreasing by 1% due to lower commercial vehicle sales[7] - The Industrial Segment's net sales for Q4 2025 increased by 4%, with the Basler acquisition contributing 5% to growth[11] - Net sales for the three months ended December 27, 2025, were $593.9 million, a 12.2% increase from $529.5 million in the same period last year[22] - YTD-25 net sales increased by 9% compared to YTD-24, with organic growth at 6%[33] Profitability and Expenses - Gross profit for the same period was $225.7 million, up from $176.8 million, reflecting a significant improvement in profitability[22] - Adjusted EBITDA margin for the full year 2025 increased to 22.9%, primarily due to strong passive products and protection volume leverage[11] - The operating margin for the electronics segment improved to 17.3% from 13.0% year-over-year, indicating better operational efficiency[27] - Adjusted EBITDA for Q4-25 was $121.6 million, compared to $83.0 million in Q4-24, marking a 46.4% increase[29] - Total operating expenses surged to $448.6 million, compared to $226.3 million in the same quarter last year, primarily due to restructuring and impairment charges[22] - The operating loss for the quarter was $222.8 million, a significant decline from a loss of $49.5 million in the previous year[22] - Research and development expenses were $27.1 million for the quarter, slightly increasing from $26.5 million year-over-year[22] Cash Flow and Debt - Cash provided by operating activities was $433.8 million, an increase from $367.6 million year-over-year[24] - The company made acquisitions totaling $407.7 million during the fiscal year, impacting cash flows significantly[24] - Free cash flow for Q4-25 was $119.7 million, slightly down from $134.8 million in Q4-24[34] - Consolidated Total Debt as of December 27, 2025, is $802.6 million, with a net debt of $660.3 million[35] - The company’s total funded indebtedness stands at $804.6 million[35] - Cash held in U.S. subsidiaries amounts to $144.3 million, with up to $400 million available for netting under the Credit Agreement[36] Impairment and Charges - The company recorded a non-cash goodwill impairment charge of $301 million related to the Semiconductor Products business within the Electronics Segment[4] - A non-cash goodwill impairment charge of $301.2 million was recorded in Q4 2025 related to the Electronics-Semiconductor reporting unit[39] - The company recognized impairment charges totaling $92.6 million in Q4 2024, primarily related to intangible assets and goodwill[39] - The company recorded a $0.3 million loss related to the sale of the Marine business within the Transportation segment in 2025[41] Dividends and Shareholder Returns - The company plans to pay a cash dividend of $0.75 per share on March 5, 2026, to shareholders of record as of February 19, 2026[11] Taxation - The effective tax rate for Q4-25 was (5.6)%, significantly lower than (21.3)% in Q4-24[34]

Financial Performance - Net revenues for Q4 2025 reached $1,560,579, a 14.4% increase from $1,364,682 in Q4 2024[3] - Net income for Q4 2025 was $264,361, reflecting an 8.3% increase compared to $244,005 in Q4 2024[5] - Earnings per diluted common share increased to $2.39 in Q4 2025, up 9.6% from $2.18 in Q4 2024[3] - Total revenues for the year ended 2025 were $6,347,533, a 6.7% increase from $5,951,686 in 2024[5] - Non-GAAP net revenues for Q4 2025 reached $1,560,593, a 14.4% increase from $1,364,721 in Q4 2024[7] - Non-GAAP net income available to common shareholders was $290,012, reflecting a 16.1% increase compared to $249,710 in Q4 2024[7] - GAAP net revenues for Q4 2025 were $1,560,579, an increase from $1,364,682 in Q4 2024, representing a growth of 14.4%[33] - Non-GAAP net revenues for the year ended December 31, 2025, reached $5,529,824, up from $4,971,051 in 2024, indicating a year-over-year increase of 11.2%[33] Expenses and Costs - Compensation and benefits expenses rose to $925,154 in Q4 2025, a 16.3% increase from $795,750 in Q4 2024[5] - Total operating expenses increased by 14.0% to $1,252,670 in Q4 2025 from $1,098,481 in Q4 2024[9] - GAAP compensation and benefits expense for Q4 2025 was $925,154, compared to $795,750 in Q4 2024, reflecting a rise of 16.3%[33] - Non-GAAP compensation and benefits expense for the year was $3,207,308, compared to $2,883,398 in 2024, marking a growth of 11.2%[33] - Non-GAAP non-compensation operating expenses for the year were $1,333,824, up from $1,087,672 in 2024, representing a growth of 22.6%[33] Revenue Sources - Capital raising revenues surged by 55.3% to $177,868 in Q4 2025 compared to $114,507 in Q4 2024[5] - Advisory revenues increased by 46.4% to $277,988 in Q4 2025 from $189,912 in Q4 2024[5] - The Institutional Group segment saw a significant revenue increase of 27.5% to $609,703 in Q4 2025, up from $478,335 in Q4 2024[9] - Net revenues for the Institutional Group rose by 27.5% to $609,703 thousand, driven by a 56.4% increase in capital raising revenues to $170,915 thousand[21] - Advisory revenues surged by 45.7% to $276,607 thousand, contributing to a total investment banking revenue increase of 49.6% to $447,522 thousand[21] Assets and Equity - Total assets as of December 31, 2025, were $41,270,782, a 3.4% increase from $39,895,540 as of December 31, 2024[11] - Total shareholders' equity increased by 5.1% to $5,977,317 as of December 31, 2025, from $5,686,770 in the previous year[11] - Total assets for Stifel Bancorp reached $32,253,991 thousand, reflecting a 2.8% increase from the previous year[23] - Total shareholder's equity for Stifel Bancorp increased by 5.1% to $2,244,781 thousand[23] Tax and Returns - The effective tax rate for Q4 2025 was 14.1%, up from 8.3% in Q4 2024[11] - The company reported a return on average common equity (ROCE) of 22.3% for Q4 2025, compared to 20.7% in Q4 2024, an increase of 1.6 percentage points[36] - The return on common equity improved to 19.5% in Q4 2025, compared to 18.9% in Q4 2024[11] Client and Loan Metrics - Total client assets reached $551,863,000, reflecting a 10.1% growth compared to $501,402,000 in 2024[17] - Total loans, net, increased by 5.2% to $22,427,456 thousand, with residential real estate loans growing by 8.1% to $9,254,939 thousand[23] - Total loans and lending commitments reached $27,985,327, with an allowance for credit losses (ACL) of $160,911, representing an ACL percentage of 0.57%[27] - Nonperforming assets decreased by 22.2% to $125,159 thousand, representing 0.39% of total assets[23] Future Outlook - The company anticipates continued growth in market opportunities and business prospects, although specific numerical guidance was not provided[37] - The company plans to focus on capital raising and advisory revenues as part of its growth strategy moving forward[36]

Financial Performance - Q4 2025 revenue was $1.2 billion, a decline of 11% year-over-year, with operating income at $196 million, down 22%[2][3][8] - Adjusted diluted EPS decreased by 22% to $4.45, compared to $5.72 in the prior-year quarter[9] - For full year 2025, total revenue was $5.2 billion, down 3%, while operating income remained flat at $1 billion[14][15] - The company reported a net income of $806 million for full year 2025, or $22.79 per share, compared to $811 million, or $22.66 per share, in the prior-year[17] - Net income for the year ended December 31, 2025, was $805.8 million, slightly down from $811.1 million in 2024[31] - Earnings per share (diluted) for Q4 2025 was $4.07, down from $5.64 in Q4 2024, representing a decrease of 28.0%[31] - Adjusted net income for 2025 was $819.1 million, compared to $812.6 million in 2024[41] Segment Performance - Home Comfort Solutions segment revenue fell 21% to $700 million, with segment profit down 29% to $137 million[11] - Building Climate Solutions segment revenue grew by 8% to $495 million, with segment profit increasing by 11% to $115 million[12] - Home Comfort Solutions segment net sales decreased to $699.8 million in Q4 2025 from $887.4 million in Q4 2024, a decline of 21.2%[33] - Building Climate Solutions segment net sales increased to $495.2 million in Q4 2025 from $457.6 million in Q4 2024, an increase of 8.0%[33] Cash Flow and Liquidity - Operating cash flow for Q4 2025 was $406 million, an increase from $332 million in the prior-year quarter[10] - Net cash provided by operating activities decreased to $757.6 million in 2025 from $945.7 million in 2024[38] - Free cash flow for 2025 was $640.2 million, down from $784.6 million in 2024[42] - Total cash and cash equivalents at the end of the period dropped to $52.7 million from $415.1 million in 2024[38] - Cash and cash equivalents decreased significantly to $34.2 million in 2025 from $415.1 million in 2024, a decline of 91.8%[36] - Commercial paper borrowings increased significantly to $1,368.8 million in 2025 compared to $424.1 million in 2024[38] Assets and Liabilities - Total assets as of December 31, 2025, were $4,081.8 million, up from $3,620.0 million in 2024, reflecting a growth of 12.8%[36] - Total liabilities increased to $2,918.7 million as of December 31, 2025, compared to $2,657.9 million in 2024, an increase of 9.8%[36] Future Projections - Full year 2026 revenue is expected to increase by approximately 6% to 7%, with acquisitions contributing about 4%[22] - Adjusted EPS for 2026 is projected to be in the range of $23.50 to $25.00[23] - Capital expenditures for 2026 are projected to be approximately $250 million[23] Other Financial Metrics - Gross profit for the year ended December 31, 2025, was $1,734.8 million, down from $1,777.5 million in 2024, reflecting a gross margin of 33.4%[31] - Operating income for Q4 2025 was $195.8 million, compared to $250.2 million in Q4 2024, indicating a decline of 21.7%[33] - The company reported restructuring charges of $5.1 million for the three months ended December 2025[41] - The company incurred acquisition costs of $8.9 million in 2025[41] - Depreciation and amortization expenses rose to $112.5 million in 2025 from $95.1 million in 2024[38] - Interest paid increased to $46.5 million in 2025 from $45.2 million in 2024[38]

Second Quarter Segment Results ADP Reports Second Quarter Fiscal 2026 Results ROSELAND, N.J. – January 28, 2026 – ADP (Nasdaq: ADP), a global leader in HR and payroll solutions, today announced its second quarter fiscal 2026 financial results and updated its fiscal 2026 outlook. Second Quarter Fiscal 2026 Consolidated Results Compared to last year's second quarter, revenues increased 6% to $5.4 billion and 5% on an organic constant currency basis. Net earnings increased 10% to $1.1 billion, and adjusted net ...

Financial Performance - Operating revenues for Q4 2025 were $822.5 million, an increase of 10.6% compared to Q4 2024[5] - Adjusted EPS for Q4 2025 was $4.66, up 11.5% year-over-year, while diluted EPS decreased by 2.3% to $3.81[5] - Operating income for Q4 2025 was $463.6 million, up 14.4%, with an operating margin of 56.4%[9] - Adjusted EBITDA for Q4 2025 was $512.0 million, a 13.2% increase, with an adjusted EBITDA margin of 62.2%[13] - Net income for Q4 2025 was $284,669,000, a decrease of 6.8% from $305,515,000 in Q4 2024[72] - Total operating revenues for Q4 2025 reached $822,528,000, reflecting a 10.6% increase from $743,509,000 in Q4 2024[74] - Adjusted EBITDA for Q4 2025 was $512,002,000, up 13.2% from $452,254,000 in Q4 2024[74] - Net income for the year ended December 31, 2025, was $1,202,305, compared to $1,109,128 in 2024, reflecting an increase of about 8.4%[70] - Free cash flow for the year ended December 31, 2025, was $1.458585 billion, an increase from $1.386509 billion in 2024, with a forecast of $1.470 billion to $1.530 billion for 2026[87] Revenue Breakdown - Recurring subscription revenues increased by 7.5%, and asset-based fees rose by 20.7% in Q4 2025[5] - New recurring subscription sales grew by 11.7%, with an organic recurring subscription Run Rate growth of 7.7%[5] - Sustainability and Climate segment revenues were $90.3 million, up 5.9%, driven by growth in recurring subscriptions related to Ratings and Climate products[22] - The Index segment's operating revenues reached $479.1 million, a 14.0% increase, with organic operating revenue growth also at 14.0%[15] - Total operating revenues for All Other – Private Assets reached $70.9 million, an increase of 8.4% year-over-year, driven by growth in recurring subscriptions[23] - Recurring subscriptions contributed $70.3 million to operating revenues, up 9.4% from the previous year, with organic operating revenue growth at 6.6%[23] Cash and Debt Management - Cash and cash equivalents stood at $515.3 million, with a target minimum cash balance of $225.0 million to $275.0 million for operational purposes[26] - Total outstanding debt was $6.2 billion, with a total debt to adjusted EBITDA ratio of 3.3x, within the target range of 3.0x to 3.5x[27] - Capital expenditures (Capex) for the quarter were $36.3 million, while net cash provided by operating activities increased by 16.4% to $501.1 million[29] - The company declared a cash dividend of $2.05 per share for Q1 2026, with approximately $134.7 million in dividends paid in Q4 2025[31] Future Guidance - Full-Year 2026 guidance includes operating expenses of $1,490 to $1,530 million and free cash flow of $1,470 to $1,530 million[34] - The company anticipates consolidated adjusted EBITDA expenses for 2026 to be between $1.305 billion and $1.335 billion[85] Customer Metrics - The annualized retention rate is derived by subtracting the cancellation rate from 100%, providing insight into customer loyalty and subscription stability[55] - The total retention rate improved to 93.4% for the three months ended December 31, 2025, up from 93.1% in 2024[79] Asset Management - Total assets as of December 31, 2025, amounted to $5,702,459, an increase from $5,445,439 in 2024, showing a growth of approximately 4.7%[71] - Long-term debt increased to $6,202,286 as of December 31, 2025, compared to $4,510,816 in 2024, indicating a significant rise in leverage[71] - Deferred revenue as of December 31, 2025, was $1,231,776, up from $1,123,423 in 2024, indicating growth in future revenue recognition[71] - Approximately three-fifths of the assets under management (AUM) are invested in securities denominated in currencies other than the U.S. dollar, which may impact revenue due to foreign currency fluctuations[68] Capital Expenditures - Total capital expenditures for the year ended December 31, 2025, were $129.861 million, with capitalized software development costs at $90.542 million[87]

Financial Performance - Net income for Q4 2025 was $26.1 million, or diluted earnings per share of $0.51, while full-year net income reached $102.9 million, or diluted earnings per share of $1.99[3] - Net income for the three months ended December 31, 2025, was $26,148,000, compared to $25,670,000 for the previous quarter, reflecting a growth of 1.87%[31] - Adjusted net income for the quarter was $30,043,000, slightly down from $30,058,000 in the prior quarter, a decrease of 0.05%[46] - Pre-tax, pre-provision income increased to $36,733,000, up from $32,488,000 in the prior quarter, marking a rise of 13.83%[46] Income and Expenses - Net interest income for 2025 decreased by $6.4 million, or 1.6%, to $401.6 million, with a net interest margin of 4.20% compared to 4.24% in 2024[5] - Noninterest income for 2025 was $21.8 million, a decrease of $1.3 million, or 5.4%, primarily due to losses on sales and write-downs on foreclosed assets[6] - Total interest income for the three months ended December 31, 2025, was $144,038,000, a decrease from $150,022,000 in the previous quarter[29] - Total noninterest income increased to $5,508,000 for the three months ended December 31, 2025, from $5,032,000 in the previous quarter[29] - Total noninterest expense for the three months ended December 31, 2025, was $72,158,000, a slight decrease from $75,266,000 in the previous quarter[29] Assets and Liabilities - Total assets increased to $10.81 billion at December 31, 2025, up $178.5 million from September 30, 2025, largely due to a $356.2 million increase in securities[14] - Total assets reached $10,745,033 thousand in Q4 2025, an increase from $10,518,865 thousand in Q3 2025[36] - Total liabilities increased to $9,080,492 thousand in Q4 2025, compared to $8,901,354 thousand in Q3 2025[36] - Total deposits rose to $9,021,466 thousand, an increase of 2.3% from $8,817,463 thousand in the prior quarter[27] Loans and Credit Quality - Total loans increased by $132.7 million to $7.30 billion at December 31, 2025, while total deposits rose by $204.0 million to $9.02 billion[15] - Nonperforming assets totaled $60.0 million, or 0.56% of total assets, at December 31, 2025, compared to 0.51% at September 30, 2025[16] - The allowance for credit losses on loans was $83,629 thousand, up from $78,924 thousand, indicating a 9.4% increase in provisions for potential loan losses[27] - The allowance for credit losses on loans was $78,995 thousand in Q4 2025, slightly down from $82,983 thousand in Q3 2025[36] Efficiency and Ratios - The efficiency ratio improved to 61.64% for Q4 2025 from 63.69% in Q3 2025, indicating better cost management[13] - The return on average assets (ROAA) remained stable at 0.97% for the last two quarters, while the return on average equity (ROAE) slightly decreased to 6.23% from 6.30%[31] - The estimated total capital ratio (to risk-weighted assets) was 15.73%, slightly down from 16.33% in the previous quarter, indicating a stable capital position[31] Shareholder Value - Book value per share increased to $32.78 at December 31, 2025, up from $30.09 at December 31, 2024[8] - Dividends per share increased to $0.15 from $0.14, reflecting a commitment to returning value to shareholders[31] - Tangible book value per share also rose to $21.62 from $21.08, indicating improved asset quality[31] Operational Metrics - The number of full-time equivalent employees increased to 1,075 from 1,065, suggesting growth in operational capacity[31] - Total interest-earning assets increased to $9,753,491 thousand in Q4 2025, up from $9,525,017 thousand in Q3 2025, reflecting a growth of 2.4%[36] - The cost of funds decreased to 1.79% in Q4 2025 from 2.01% in Q3 2025, indicating improved funding efficiency[36]

Financial Performance - Net income for Q4 2025 was $139.9 million, an increase of 7.6% from $130.1 million in Q4 2024, with diluted earnings per share rising to $1.49 from $1.37[4][11] - For the year ended December 31, 2025, net income was $542.8 million, a 13.2% increase from $479.4 million in 2024, with diluted earnings per share rising to $5.72 from $5.05[6][20] - Net income for the three months ended December 31, 2025, was $139,907,000, an increase from $137,556,000 in the previous quarter[72] - Net income excluding merger-related provisions and expenses for Q4 2025 was $137,312 million, slightly down from $137,605 million in Q3 2025[104] - The company’s net income for the year-to-date period reached $542,843 million, compared to $479,386 million for the same period last year, indicating a growth of 13.2%[104] Deposits and Loans - Total deposits increased by $700.4 million during Q4 2025, representing a 10.1% annualized growth rate[6][26] - Total deposits increased to $28,482,484 thousand at the end of December 2025, up from $27,782,094 thousand at the end of September 2025[67] - Total loans held for investment amounted to $20,486,415 thousand as of December 31, 2025, a decrease from $20,738,294 thousand on September 30, 2025[67] - The loan to deposit ratio decreased to 76.6% from 79.3% in the previous quarter, indicating a tighter lending environment[93] - Loans held for investment amounted to $20,603,235,000 for the three months ended December 31, 2025, with an interest yield of 5.83%[79] Mergers and Acquisitions - The company completed the merger with American Bank Holding Corporation on January 1, 2026, enhancing its market presence[4][5] - Prosperity Bancshares announced the acquisition of Stellar Bancorp, which will elevate its deposit rank in Houston from 9th to 5th, making it the largest Texas-based bank in the market[6][9] - Prosperity Bancshares signed a definitive merger agreement with Stellar Bancorp, Inc., which reported total assets of $10.807 billion as of December 31, 2025[34] - Prosperity Bancshares also announced a merger agreement with Southwest Bancshares, Inc., which had total assets of $2.426 billion as of December 31, 2025[36] - The total consideration for the Stellar acquisition is valued at approximately $2.002 billion, based on a closing price of $72.90 on January 27, 2026[35] Asset Management - As of December 31, 2025, Prosperity Bancshares had total assets of $38.463 billion and operated 301 full-service banking locations[43] - Total assets reached $38,463,425 thousand at the end of December 2025, compared to $38,330,469 thousand at the end of September 2025[67] - The company reported a total of $1,950,000 thousand in other borrowings as of December 31, 2025, down from $2,400,000 thousand on September 30, 2025[67] - Total assets were reported at $37,665,928 thousand in Q4 2025, a decrease from $39,627,399 thousand in Q4 2024[91] - The company maintains goodwill of $3,503,127 thousand as of December 31, 2025, unchanged from previous periods[67] Noninterest Income and Expenses - Noninterest income for Q4 2025 was $42.8 million, up from $39.8 million in Q4 2024, driven by increases in service charges and other noninterest income[6][13] - Noninterest expense decreased to $138.7 million in Q4 2025 from $141.5 million in Q4 2024, primarily due to a reversal of the 2024 FDIC special assessment[6][19] - Total noninterest income increased to $42,780,000 from $41,238,000 in the prior quarter[71] - Total noninterest expense remained stable at $138,712,000 compared to $138,635,000 in the previous quarter[71] - Noninterest income rose to $42,780 from $42,982, a slight decrease of 0.5%[106] Credit Quality - Nonperforming assets were reported at $150.8 million, or 0.46% of quarterly average interest-earning assets, reflecting a slight increase from 0.36% in Q3 2025[6][27] - The allowance for credit losses on loans was $371.4 million, with a ratio of 1.53% of total loans, showing a decrease from 1.59% in Q4 2024[6][29] - Nonperforming assets to average interest-earning assets ratio increased to 0.46% from 0.36% in the previous quarter[101] - Net charge-offs for the year ended December 31, 2025, were $18.1 million, an increase of 23.9% compared to $14.6 million for the year ended December 31, 2024[31] - Nonperforming assets to loans and other real estate ratio rose to 0.69%, up from 0.54% in the prior quarter[101] Shareholder Returns - Prosperity Bancshares declared a cash dividend of $0.60 per share for the first quarter of 2026, payable on April 1, 2026[32] - A stock repurchase program was announced to acquire up to 5% of outstanding common stock, approximately 4.87 million shares, over one year[33] - Cash dividends paid per common share increased to $0.60 from $0.58 in the previous quarter[72] - Tangible book value per share rose to $43.64 in Q4 2025, compared to $43.23 in Q3 2025[105] - Average shareholders' equity increased to $7,668,802 million in Q4 2025 from $7,657,978 million in Q3 2025[105]

Revenue Projections - Halozyme expects total revenue for 2025 to be between $1,385 million and $1,400 million, representing a year-over-year growth of 36% to 38%[1] - Royalty revenue for 2025 is projected to be between $865 million and $870 million, with a year-over-year growth of 51% to 52%[1] - For 2026, total revenue guidance has been raised to between $1,710 million and $1,810 million, indicating a year-over-year growth of 23% to 30%[1] - Royalty revenue for 2026 is expected to be between $1,130 million and $1,170 million, reflecting a growth of 30% to 35% compared to 2025[1] Financial Metrics - Adjusted EBITDA for 2026 is projected to be between $1,125 million and $1,205 million, including a new investment of approximately $60 million[1] - Non-GAAP diluted EPS for 2026 is expected to be between $7.75 and $8.25[1] Acquisitions and Collaborations - The company acquired Surf Bio for an upfront payment of $300 million, with potential milestone payments of up to $100 million, totaling up to $400 million[5] - The acquisition of Surf Bio enhances Halozyme's drug delivery portfolio with innovative hyperconcentration technology, enabling high concentrations of therapeutics[6] - In 2025, Halozyme signed three new ENHANZE collaboration agreements and advanced its strategic growth roadmap with acquisitions[4] - By the end of 2026, Halozyme anticipates having 15 partner programs in development and signing three or more new drug delivery licensing agreements[5] - The company is focusing on expanded collaborations and potential approvals of new partnered or proprietary products[21] Risks and Uncertainties - There are uncertainties regarding future market conditions and competitive environments that could impact actual results[21] - The expected benefits from acquisitions of Elektrofi and Surf Bio are under evaluation[21] - The company acknowledges potential risks related to patent terms for drug delivery technologies[21] - There may be unexpected levels of revenues, expenditures, and costs affecting business growth[21] - Delays in the development, regulatory review, or commercialization of products could occur[21] - Regulatory approval requirements are a significant factor in the company's future outlook[21] - The company does not undertake any duty to update forward-looking statements after the release date[21]

Financial Performance - Total operating revenues for Q4 2025 reached $33,466 million, a 3.6% increase from Q4 2024's $32,298 million[1] - Net income attributable to AT&T for Q4 2025 was $3,788 million, down 7.2% from $4,080 million in Q4 2024[1] - Operating income for the year ended 2025 was $24,162 million, a significant increase of 26.8% compared to $19,049 million in 2024[1] - Total operating revenues for the year ended 2025 reached $4,379 million, a 3.5% increase from $4,232 million in 2024[16] - Total operating income for AT&T Inc. in 2025 was $24,162 million, compared to $19,049 million in 2024[18] Cash and Assets - Cash and cash equivalents increased to $18,234 million by the end of 2025, up from $3,298 million at the end of 2024[2] - Total assets grew to $420,198 million in 2025, compared to $394,795 million in 2024, reflecting a 6.4% increase[2] Capital Expenditures and Debt - Total capital expenditures for the year ended 2025 were $20,842 million, a 2.9% increase from $20,263 million in 2024[5] - The debt ratio increased to 51.4% in 2025, up from 50.7% in 2024, indicating a rise in leverage[5] Employment and Workforce - The total number of employees decreased to 133,030 in 2025, down 5.6% from 140,990 in 2024[5] Operating Activities - The company reported a net cash provided by operating activities of $40,284 million for the year ended 2025, compared to $38,771 million in 2024[4] Segment Performance - Mobility segment operating revenues increased by 5.3% to $24,354 million in Q4 2025, compared to $23,129 million in Q4 2024[7] - Total segment operating revenues for the year ended 2025 reached $120,896 million, a 2.8% increase from $117,652 million in 2024[7] - Operating income for the Mobility segment rose by 4.5% to $6,400 million in Q4 2025, up from $6,124 million in Q4 2024[9] - Business Wireline segment operating revenues decreased by 7.5% to $4,202 million in Q4 2025, compared to $4,545 million in Q4 2024[12] - Consumer Wireline segment operating revenues increased by 2.9% to $3,565 million in Q4 2025, compared to $3,465 million in Q4 2024[14] - Total operating income for the Consumer Wireline segment surged by 94.9% to $538 million in Q4 2025, compared to $276 million in Q4 2024[14] - Mobility segment revenues for the year reached $89,482 million, with an operating income of $27,196 million[18] - Corporate and Other segment reported an operating loss of $2,559 million for the year ended 2025[18] Subscriber Metrics - Mobility total subscribers reached 120,105 thousand, a 1.9% increase from 117,851 thousand in 2024[9] - Postpaid churn rate increased to 1.12% in Q4 2025 from 1.00% in Q4 2024[9] - Fiber broadband connections grew by 11.5% to 10,406 thousand in 2025, compared to 9,331 thousand in 2024[14] - Broadband net additions for the Consumer Wireline segment increased by 70.7% to 210 thousand in Q4 2025, compared to 123 thousand in Q4 2024[14] - Total Mexico wireless subscribers grew by 4.7% to 24,680 thousand as of December 31, 2025, up from 23,576 thousand in 2024[16] - Postpaid subscribers in Mexico increased by 15.7% to 6,751 thousand, while prepaid subscribers rose by 1.4% to 17,730 thousand[16] - The company reported a significant increase in net additions for postpaid subscribers, with 914 thousand added in 2025, a 52.1% increase from 601 thousand in 2024[16] Operating Expenses - Operating expenses for the year ended 2025 totaled $4,234 million, a slight increase of 1.0% from $4,192 million in 2024[16] Dividends - The company declared dividends of $0.2775 per common share, consistent with the previous year[5]

Financial Performance - Fourth quarter 2025 income from continuing operations was $1.33 per share, up from $0.76 per share in Q4 2024; adjusted income was $1.73 per share, compared to $1.34 per share in Q4 2024[2][3] - Full year 2025 revenue reached $14.8 billion, an 8% increase from 2024; segment profit for the year was $1.4 billion, up 14% from the prior year[3][8] - Net income for the twelve months ended January 3, 2026, was $921 million, compared to $824 million for the twelve months ended December 28, 2024, reflecting an increase of 11.8%[26] - Diluted earnings per share from continuing operations increased to $5.12 for the twelve months ended January 3, 2026, compared to $4.34 for the same period in 2024, a rise of 18%[27] - Income from continuing operations for Q4 2026 was $236 million, up from $141 million in Q4 2024, representing a 67.4% increase[41] - Adjusted income from continuing operations for Q4 2026 was $307 million, compared to $248 million in Q4 2024, reflecting a 23.7% growth[41] Revenue Growth - Textron Aviation revenues were $1.7 billion in Q4 2025, a 36% increase from Q4 2024, driven by higher aircraft and aftermarket parts revenues[9][10] - Bell's revenues increased by 11% to $1.3 billion in Q4 2025, primarily due to higher military revenues from the MV-75 program[11][13] - Textron is forecasting 2026 revenues of approximately $15.5 billion, an increase from $14.8 billion in 2025; expected GAAP earnings per share for 2026 is projected to be between $5.39 and $5.59[6] Cash Flow and Liquidity - Net cash provided by operating activities for the manufacturing group was $1.3 billion for the full year, with manufacturing cash flow before pension contributions totaling $969 million, up from $692 million in 2024[5][7] - Cash and equivalents at the end of the period on January 3, 2026, were $1,940 million, up from $1,386 million on December 28, 2024, indicating a growth of 40%[30] - Net cash from operating activities for the three months ended January 3, 2026, was $698 million, an increase of 56% from $447 million for the same period in 2024[32] - Total cash flows from continuing operations for Q4 2026 were $502 million, compared to $111 million in Q4 2024, showing a significant increase[41] - Cash and equivalents at the end of Q4 2026 were $2,025 million, up from $1,441 million at the end of Q4 2024, representing a 40.5% increase[41] Segment Performance - Textron Systems revenues were $323 million in Q4 2025, a 4% increase from the previous year, with a backlog of $3.3 billion[14] - Industrial segment revenues were $821 million, down 5.5% from Q4 2024, largely due to the divestiture of the Powersports business[15][16] - Textron eAviation segment revenues were $7 million in Q4 2025, down from $11 million in Q4 2024, with a segment loss of $15 million[17] - Segment profit for Textron Aviation was $208 million for the three months ended January 3, 2026, up from $100 million in the same period of 2024, representing a 108% increase[26] - The company reported a segment profit of $380 million for the three months ended January 3, 2026, compared to $283 million for the same period in 2024, reflecting a 34.3% increase[26] Capital Expenditures - Capital expenditures for the three months ended January 3, 2026, were $173 million, compared to $153 million for the same period in 2024, showing an increase of 13.1%[32] - Capital expenditures for Q4 2026 were $173 million, compared to $153 million in Q4 2024, reflecting a 13.1% increase[46] Other Financial Metrics - Total assets increased to $18,129 million as of January 3, 2026, compared to $16,838 million as of December 28, 2024, marking a growth of 7.7%[30] - The company recorded a LIFO inventory provision of $64 million for Q4 2026, compared to $61 million in Q4 2024, indicating a 4.9% increase[41] - The company reported a net cash used in business acquisitions of $1 million in Q4 2026, compared to $13 million in Q4 2024[46]