Financial Performance - CVR Energy's preliminary estimated consolidated net loss for Q4 2025 is projected to be between $125 million and $110 million, with a net loss attributable to stockholders between $120 million and $105 million[2]. - EBITDA for Q4 2025 is estimated to range from $40 million to $60 million, while Adjusted EBITDA is expected to be between $78 million and $102 million[11]. - For the full year 2025, net income is estimated to be between $81 million and $96 million, with Adjusted EBITDA expected to range from $380 million to $404 million[11]. Operational Insights - Total refining throughput for Q4 2025 is estimated to be between 210,000 and 220,000 barrels per day, with an ammonia utilization rate projected between 60% and 65%[2]. - The company anticipates no planned turnarounds in its Petroleum segment for 2026, which is expected to positively impact operations[2]. - The reversion of the renewable diesel unit at Wynnewood back to hydrocarbon processing was completed in December 2025, with expected operational benefits[2]. Financial Position - Cash and cash equivalents are estimated to remain stable at between $500 million and $520 million[2]. - Total long-term debt and finance lease obligations are projected to be between $1.7 billion and $1.8 billion[2]. Future Outlook - The company is optimistic about the future growth prospects following the completion of the renewable diesel unit reversion[12]. - Management emphasizes the importance of non-GAAP measures like EBITDA and Adjusted EBITDA for evaluating performance and profitability[8].

Financial Projections - Preliminary estimated net income for Q4 2025 is projected to be between $(14) million and $(7) million, while full-year 2025 net income is expected to range from $95 million to $102 million[2]. - Estimated EBITDA for Q4 2025 is expected to be between $15 million and $25 million, with full-year 2025 EBITDA projected to be between $206 million and $216 million[2]. - Cash and cash equivalents are estimated to be between $65 million and $75 million for both Q4 and full-year 2025[2]. - Total long-term debt and finance lease obligations are projected to be between $550 million and $600 million for both Q4 and full-year 2025[2]. Operational Performance - Ammonia utilization rate for Q4 2025 is estimated to be between 60% and 65%, while the full-year 2025 rate is expected to be between 87% and 89%[2]. - Strong demand for nitrogen fertilizers was noted in Q4 2025, with robust pricing amid tight inventories[2]. - The planned turnaround at the Coffeyville facility was completed as scheduled, although startup was delayed by several weeks due to third-party unit downtime[2]. Risk and Uncertainty - The company emphasizes that these preliminary estimates are subject to final adjustments and may differ from actual results[3]. - Forward-looking statements indicate potential risks and uncertainties that may affect future performance[10]. Business Focus - CVR Partners focuses on the production, marketing, and distribution of nitrogen fertilizer products, primarily urea ammonium nitrate (UAN) and ammonia[11].

Securities Purchase Agreement - The Company is executing a Securities Purchase Agreement dated January 26, 2026, with multiple investors for the issuance of securities[2]. - The Agreement relies on the exemption from securities registration under Section 4(a)(2) of the Securities Act of 1933 and Rule 506 of Regulation D[3]. - The Closing Date for the transaction is defined as the second Trading Day after the Agreement date, contingent upon the execution of all Transaction Documents[13]. - The Company aims to issue Common Stock and Common Stock Equivalents as part of the securities offering[15]. - The Agreement includes provisions for Exempt Issuance of shares to employees and directors under specific conditions[27]. - The Company’s obligations under the Agreement are subject to the satisfaction of conditions precedent, including the Purchasers' obligation to pay their Subscription Amount[13]. - The Agreement outlines the definition of Indebtedness, which includes various forms of financial obligations[31]. - The Agreement includes provisions for Government Financing, which may involve the issuance of shares to the U.S. Government[30]. - The Closing is contingent upon the satisfaction of conditions, including the accuracy of representations and warranties by Purchasers[72]. - The Company will provide an Officer's Certificate confirming compliance with obligations and covenants prior to Closing[70]. - The Registration Rights Agreement will be executed by the Company and Purchasers as part of the transaction[70]. - The Company will deliver wire instructions executed by the Chief Executive Officer or Chief Financial Officer at least two business days prior to Closing[70]. - The Lock-up Agreements will be part of the documentation delivered at Closing[70]. - The Purchasers must deliver their Subscription Amount and executed agreements prior to Closing[71]. - The Company’s legal counsel will provide an opinion letter addressing legal matters related to the transaction[70]. - The Closing Date is defined as the date when all conditions are satisfied or waived, leading to the completion of the sale[72]. - The Company has filed a Listing of Additional Shares notice with Nasdaq for the listing of Shares and Warrant Shares[73]. - The Company has not declared or made any dividend or distribution of cash or other property to its stockholders since the date of the latest audited financial statements[81]. - The Company is solely responsible for the payment of any fees, costs, expenses, and commissions of the Placement Agents[89]. - The Company is authorized to issue up to 800,000,000 shares, including 750,000,000 shares of Common Stock and 50,000,000 shares of Preferred Stock, with 15,000,000 shares designated as 12.0% Series A Cumulative Convertible Preferred Stock[91]. - The Company has reserved 13,000,000 shares of Common Stock for issuance under the USA Rare Earth, Inc. 2024 Omnibus Incentive Plan[91]. - The Company has not received any notice of conflicting Mining Rights that would affect its interests in the Round Top Project[106]. - The Company will execute and deliver reasonable documentation as requested by a pledgee or secured party of Securities[156]. - The Company agrees to issue a press release and/or file a Current Report on Form 8-K disclosing the material terms of the transactions by the Disclosure Time[163]. - The Company will not sell or solicit offers for any security that would require registration under the Securities Act without obtaining stockholder approval[162]. - The Company will maintain the registration of the Common Stock under Section 12(b) or 12(g) of the Exchange Act and file all required reports[161]. - The Company agrees to maintain the listing or quotation of the Common Stock on a Trading Market at least equal to the Required Minimum[172]. - The Company shall not issue any shares of Common Stock or Common Stock Equivalents without the prior written consent of the Purchasers of at least a majority in interest[173]. - The Company will indemnify and hold each Purchaser Party harmless from any losses related to breaches of representations or warranties made by the Company[167]. - The Company will provide prompt notice of any termination of the Agreement to each Purchaser[179]. - The Transaction Documents contain the entire understanding of the parties and supersede all prior agreements[181]. - Notices or communications required under the Agreement shall be in writing and deemed effective upon transmission via email or other specified methods[182]. - No amendments to the Agreement are valid unless made in writing and executed by the Company and a majority of Purchasers[183]. - The Company may not assign the Agreement without prior written consent from the Purchasers, except by merger[185]. - The Agreement is governed by the laws of the State of New York, and all legal proceedings must be commenced in New York courts[186]. - The representations and warranties in Sections 3.1 and 3.2 will survive the Closing and delivery of the Securities[187]. - If any provision of the Agreement is held invalid, the remaining provisions will remain in effect[189]. - The Purchasers and the Company are entitled to specific performance under the Transaction Documents[192]. Compliance and Legal Obligations - The Company must comply with various legal and regulatory requirements, including Anti-Bribery Laws and International Trade Laws[7][32]. - The Company is in compliance with applicable provisions of the Sarbanes-Oxley Act of 2002[87]. - The financial statements included in the SEC Reports fairly present the financial position of the Company as of the respective dates[90]. - The Company is in compliance with applicable Nasdaq continued listing requirements and has not received any notice regarding the delisting of its Common Stock[92]. - The Company and its Subsidiaries are in compliance with all applicable Environmental Laws and have not received any notice of potential liability related to hazardous substances[94]. - The Company possesses all necessary permits and licenses to conduct its business, and there are no proceedings pending regarding the revocation of any Material Permits[95]. - The Company has maintained risk-based controls to promote compliance with economic sanctions administered by the U.S. government since April 24, 2019[100]. - The Company has complied with all applicable tax obligations, with no material unpaid taxes claimed by authorities[121]. - The Company maintains a robust internal control system over financial reporting, with no material weaknesses identified since the last audited fiscal year[124]. - The Company's IT systems are adequate and secure, with no known breaches or unauthorized access reported[128]. - The Company certifies that it is not a United States real property holding corporation[132]. - The Investor Presentation provided to the Purchasers did not contain any untrue statements or omit material facts[133]. - The Company has exercised reasonable care to determine whether any Issuer Covered Person is subject to any "Bad Actor" disqualifications[134]. - Each Purchaser represents that it is an accredited investor or qualified institutional buyer[138]. - The Securities are being offered in a transaction not involving any public offering and have not been registered under the Securities Act[139]. - The Purchasers acknowledge the substantial risks associated with the purchase and ownership of the Securities[144]. - The Purchasers have independently evaluated the merits and risks of investing in the Securities[145]. - No federal or state agency has endorsed the merits of the offering of the Securities[146]. Financial Position and Shareholder Information - The Company has not incurred any liabilities other than trade payables and accrued expenses incurred in the ordinary course of business[81]. - There has been no event that has had or would reasonably be expected to cause a Material Adverse Effect since the date of the latest audited financial statements[81]. - The Shares and Warrant Shares, when issued and paid for, will be duly and validly issued, fully paid, and nonassessable[79]. - The Company is eligible for clearing through The Depository Trust Company (DTC) and is participating in the Direct Registration System (DRS)[88]. - As of the date hereof, 148,163,519 shares of Common Stock and 1,224,351 shares of Series A Preferred Stock are issued and outstanding, along with warrants to purchase 2,446,195 shares of Common Stock at an initial exercise price of $7.00 per share[91]. - The Company has good and indefeasible title to its owned real properties, free of liens, with no ongoing condemnation proceedings[113]. - All leased properties are valid and binding, with no material breaches or defaults reported by the Company or its Subsidiaries[114]. - The Company has good and marketable title to its material tangible and intangible assets necessary for business operations, free of liens[117]. - The Company acknowledges that the issuance of Securities will result in dilution of the outstanding shares of Common Stock[160]. - The Company will use the net proceeds from the sale of the Securities for general corporate and working capital purposes[166]. - The Company shall maintain a reserve of the Required Minimum from its authorized shares of Common Stock for issuance pursuant to the Transaction Documents[170]. - If the number of authorized but unissued shares is less than 100% of the Required Minimum, the Board of Directors will amend the Company's certificate to increase the number of authorized shares within 75 days[171].

Exhibit 99.1 HECLA ANNOUNCES FULL YEAR PRODUCTION AND 2026 GUIDANCE Silver and gold production achieve top end of production guidance, Lucky Friday achieves record production COEUR D'ALENE, IDAHO -- January 26, 2026 - Hecla Mining Company (NYSE:HL) ("Hecla" or the "Company") today announced its preliminary metals production for the fourth quarter and full year of 2025 and provided 2026 Guidance. HIGHLIGHTS 2026 GUIDANCE "Our 2025 results demonstrate operational excellence, with 17.0 million ounces of silver ...

Financial Performance - Net income for Q4 2025 was $18.9 million, or $0.60 diluted earnings per share, down from $19.8 million, or $0.63 per share in Q3 2025[3] - Adjusted net income for Q4 2025 was $20.1 million, or $0.64 per diluted share, compared to $20.5 million, or $0.65 per share in Q3 2025[6] - Net income for the year ended December 31, 2025, was $77,008,000, an increase of 7.9% compared to $71,780,000 for the year ended December 31, 2024[57] - Adjusted net income for the year ended December 31, 2025, was $79,647,000, up from $75,002,000 in 2024, reflecting a growth of 6.5%[57] - Earnings per share (diluted) for Q4 2025 was $0.60, down from $0.63 in Q3 2025 and $0.64 in Q4 2024, marking a decrease of 6.3% year-over-year[35] - The efficiency ratio for Q4 2025 was 53.64%, compared to 53.17% in Q3 2025 and 51.16% in Q4 2024, indicating a decline in operational efficiency[35] - The net interest margin (tax-equivalent basis) for Q4 2025 was 4.16%, up from 4.01% in Q4 2024, indicating an improvement in profitability[63] - Return on average tangible common equity for Q4 2025 was 14.08%, down from 17.40% in Q4 2024, reflecting a decline in profitability metrics[71] Loans and Deposits - Loans increased by $56.2 million, or 6.6% annualized, during Q4 2025, totaling $3.46 billion[4] - Total deposits rose to $4.36 billion at December 31, 2025, a $12.1 million increase from Q3 2025[16] - The loan to deposit ratio was 79.28% in Q4 2025, an increase from 78.21% in Q3 2025 but a decrease from 80.27% in Q4 2024, indicating a tightening in liquidity[35] - Average loans increased to $3,432,308,000 in December 2025 from $3,379,637,000 in September 2025, reflecting a growth of 1.6%[55] Noninterest Income and Expense - Noninterest income for Q4 2025 was $9.9 million, a slight increase from $9.8 million in Q3 2025[10] - Noninterest expense for Q4 2025 was $33.1 million, a 1.7% increase from Q3 2025, primarily due to acquisition-related expenses[12] - Total noninterest income for Q4 2025 was $9,895,000, compared to $11,630,000 in Q4 2024, reflecting a decrease of 14.9% year-over-year[65] Credit Losses and Asset Quality - The company reported a provision for credit losses of $1.5 million for Q4 2025, reflecting a $2.2 million increase in required reserves[18] - Nonperforming assets remained stable at 0.17% of total assets, with net charge-offs of $0.8 million, or 0.10% of average loans on an annualized basis[17][19] - The provision for credit losses increased to $1,463,000 in Q4 2025 from $596,000 in Q3 2025 and $725,000 in Q4 2024, reflecting a significant rise in credit risk[35] - Total nonperforming assets increased to $8,682,000 in December 2025, up from $8,649,000 in September 2025 and $8,023,000 in December 2024, representing a year-over-year increase of 8.2%[54] Capital and Equity - The tangible book value per share increased to $17.20, a 16.2% increase over the past year[4] - Total capital to risk-weighted assets ratio was 16.82% in Q4 2025, slightly up from 16.77% in Q3 2025 and 16.51% in Q4 2024, indicating a stable capital position[35] - Stockholders' equity increased to $608,822 thousand, up from $589,076 thousand in the previous quarter[44] - The book value per share rose to $19.58 in Q4 2025, up from $17.26 in Q4 2024, indicating a year-over-year increase of 13.4%[69] Mergers and Acquisitions - HBT Financial is pursuing a merger with CNB Bank Shares, expected to enhance its presence in the Chicago and St. Louis markets[4] - The proposed merger with CNB is subject to shareholder approval and regulatory conditions, which may affect the transaction's timing and outcome[29] - The company has filed a Registration Statement with the SEC regarding the proposed transaction, which includes important information for shareholders[29] - Investors can access free copies of relevant documents filed with the SEC through the company's website and the SEC's website[30] Risk Management - The company is focused on managing liquidity risk and maintaining an adequate level of allowance for credit losses on loans[27] - The company is actively managing risks related to technological changes and cybersecurity threats[26] - The company is preparing for potential economic impacts from external events such as climate change and geopolitical tensions[27] - Factors affecting future performance include competition from non-bank entities and changes in interest rates[26] Forward-Looking Statements - The forward-looking statements indicate that actual results may differ materially due to various economic and regulatory factors[25]

Financial Performance - Record quarterly net income of $29.9 million for Q4 2025, a 24% increase from $24.2 million in Q4 2024[1] - Annual net income grew by 11% to $103.4 million for the year ended December 31, 2025, compared to $93.5 million in 2024[2] - Net income for Q4 2025 was $29.91 million, compared to $24.19 million in Q4 2024, marking an increase of approximately 23.1% year-over-year[45] - Net income for the twelve months ended December 31, 2025, was $103,361,000, an increase of 10.0% from $93,478,000 in 2024[49] - Basic net income per common share increased to $1.16 in Q4 2025 from $0.94 in Q4 2024, reflecting a growth of approximately 23.4%[45] Revenue and Income - Total revenue for Q4 2025 was $69.8 million, a 10% increase from $63.6 million in Q4 2024[4] - Net interest income rose by $24.3 million, or 12%, for the year ended December 31, 2025, compared to 2024[16] - Noninterest income decreased by $8.9 million, or 16%, to $48.0 million for the year ended December 31, 2025, compared to $56.8 million for the prior year[34] - Noninterest income for the twelve months ended December 31, 2025, was $47.97 million, down from $56.84 million in the previous year, indicating a decrease of about 15.6%[45] - Noninterest income for Q4 2025 was $12,603,000, up 6.1% from $11,876,000 in Q4 2024[49] Assets and Loans - Total assets increased to $6.99 billion in Q4 2025, up from $6.68 billion in Q4 2024, reflecting a growth of approximately 4.67% year-over-year[45] - Loans reached $5.38 billion in Q4 2025, an increase from $5.12 billion in Q4 2024, representing a growth of about 5.06% year-over-year[45] - Average total loans increased by $185.1 million, or 4%, to $5.27 billion in Q4 2025 compared to Q4 2024[18] - Total commercial loans reached $4,724,441,000 as of December 31, 2025, representing 87.8% of total loans[51] Deposits and Equity - Total deposits increased by $72.4 million, or 1%, from $5.90 billion as of December 31, 2024, to $5.97 billion as of December 31, 2025[22] - Core deposits expanded by $74.1 million, or 1%, to $5.92 billion[13] - Total equity rose to $762.49 million in Q4 2025, up from $683.91 million in Q4 2024, representing a growth of about 11.5% year-over-year[45] - Total deposits as of December 31, 2025, were $5,973,350,000, a decrease from $6,024,318,000 as of September 30, 2025[53] Efficiency and Ratios - Return on average equity improved to 15.59% in Q4 2025, up from 13.87% in Q4 2024[6] - The company's efficiency ratio for the year ended December 31, 2025, was 48.9%, compared to 49.3% for the previous year[41] - Efficiency ratio (Noninterest Expense/Net Interest Income plus Noninterest Income) improved to 47.92% from 50.65% in the previous quarter[46] - Return on Average Assets improved to 1.70% in 2025, up from 1.53% in 2024[46] - Common Equity Tier 1 (CET1) ratio remained stable at 14.77% in 2025, consistent with the previous year[46] Credit Quality - Nonaccrual loans declined 63% to $20.9 million compared to $56.4 million in the previous year[13] - Nonperforming assets decreased by $36.0 million, or 63%, to $20.9 million as of December 31, 2025[30] - The allowance for credit loss reserve to total loans was 1.28% at December 31, 2025, down from 1.68% at December 31, 2024[29] - The allowance for credit losses was $68,995,000 as of December 31, 2025, compared to $85,960,000 a year earlier[51] - The company reported a provision for credit losses of $11,800,000 for the twelve months ended December 31, 2025, down from $16,750,000 in 2024[49] Shareholder Returns - The dividend payout ratio for Q4 2025 was 43.10%, down from 51.06% in Q4 2024, indicating a more conservative approach to dividend distribution[45] - The company repurchased 307,590 shares for $17.9 million at an average price of $58.23 during Q4 2025[10] Strategic Initiatives - The company plans to use approximately $134.5 million in cash flows from the investment securities portfolio to fund loan growth in 2026[33] - The company plans to accelerate branch development in Indianapolis and other Indiana markets to enhance market share[42] - The company continues to focus on building long-term customer relationships while delivering technology-forward solutions for retail and commercial clients[42] Employment and Operations - Full-time equivalent employees increased to 669 in 2025, up from 643 in 2024, reflecting a growth of 4.05%[48] - The company maintained 55 offices as of December 31, 2025, unchanged from the previous year[48]

Merger Agreement - The merger agreement dated January 25, 2026, involves IonQ, Inc., Iris Merger Subsidiary 1 Inc., Iris Merger Subsidiary 2 LLC, and SkyWater Technology, Inc.[7] - The first merger will result in the Company becoming a wholly-owned direct subsidiary of IonQ, Inc., followed by a second merger with Iris Merger Subsidiary 2[9] - The effective time of the first merger will occur upon the filing of the First Certificate of Merger with the Secretary of State of Delaware[14] - The second merger will become effective upon the filing of the Second Certificate of Merger, with the first merger preceding it[14] - The closing of the mergers is scheduled to take place three business days after the fulfillment of all conditions set forth in Article VIII[16] - The Board of Directors of both IonQ and SkyWater Technology have unanimously approved the merger agreement as being in the best interests of their respective stockholders[9] - The mergers are intended to qualify as a "reorganization" for U.S. federal income tax purposes[10] - The agreement includes provisions for the treatment of equity awards and appraisal rights for stockholders[4] - The merger will involve the issuance of shares of Parent Common Stock as part of the transaction[9] - The agreement stipulates that certain stockholders of the Company have entered into a voting agreement to support the transactions[10] Merger Consideration - At the Effective Time, each share of Company Common Stock will be converted into a cash amount of $15.00 and shares of Parent Common Stock based on the Exchange Ratio[22] - All shares of Company Common Stock converted into the right to receive the Merger Consideration will automatically be cancelled and retired, ceasing to exist[23] - The Merger Consideration will be adjusted for any changes in the outstanding shares of capital stock of Parent or the Company prior to the Effective Time[25] - All shares of Company Common Stock owned by Parent or its subsidiaries will be cancelled and retired, with no consideration delivered in exchange[26] - Each outstanding stock option and restricted stock unit will be converted into options and units of Parent Common Stock based on the Equity Award Exchange Ratio[28] - Each holder of Company Common Stock converted into a right to receive the Merger Consideration will receive shares of Parent Common Stock and cash equivalent to the cash portion of the Merger Consideration[43] - No fractional shares of Parent Common Stock will be issued; instead, holders will receive cash payments for fractional shares based on the proceeds from the sale of Excess Shares[52] - Any unclaimed portion of the Exchange Fund after one year post-Effective Time will be returned to Parent, and holders will only look to Parent for the delivery of the Merger Consideration thereafter[47] - The Exchange Agent will invest cash delivered by Parent, with any interest and income from such investments paid promptly to Parent[50] Corporate Governance - The Company is duly incorporated and has all necessary corporate powers and approvals to conduct its business, with no adverse effects expected from the absence of any required approvals[61] - The execution and performance of the Agreement by the Company have been duly authorized by necessary corporate action, requiring only a majority vote from Company Common Stock holders for approval[62] - The Board of Directors has unanimously determined that the Agreement and transactions are fair and in the best interests of the Company's stockholders[63] - No further registration of transfers of shares of Company Common Stock will occur after the Effective Time[46] - Holders of unsurrendered Certificates or Book-Entry Shares will not receive dividends or distributions until such shares are surrendered[48] - The payment of any taxes incurred by holders of Company Common Stock in connection with the Mergers will be the sole responsibility of those holders[51] Financial Position - The Company has authorized capital stock consisting of 200,000,000 shares of Common Stock and 80,000,000 shares of Preferred Stock, with 48,625,689 shares of Common Stock outstanding as of January 22, 2026[67] - There are outstanding Company Options for 2,136,305 shares and Company RSU Awards for 1,315,420 shares of Common Stock as of the Measurement Date[68] - The Company has no shares of Preferred Stock or other voting securities outstanding as of the Measurement Date[67] - The audited consolidated financial statements present fairly the financial position of the Company and its subsidiaries, in conformity with GAAP[79] - The Company has timely filed all required forms and reports with the SEC since January 1, 2023[78] - There are no outstanding obligations to repurchase or redeem any Company Securities[74] Compliance and Legal Matters - Each Subsidiary of the Company is duly organized and in good standing, with no material adverse effects expected from their operations[72] - The Company Proxy Statement will not contain any untrue statements or omissions of material facts when filed with the SEC[80] - The Company has no stockholder agreements or similar arrangements that restrict the transfer of capital stock[71] - The Company has designed and maintained disclosure controls and procedures to ensure timely communication of material information for decision-making[84] - The Company's internal controls over financial reporting were assessed as effective for the fiscal year ended December 29, 2024, except as disclosed[85] - No personal loans or extensions of credit to executive officers or directors have been made in violation of relevant regulations since January 1, 2023[86] - There are no undisclosed material liabilities as of the date of the Agreement, except for those disclosed in the Company Balance Sheet[91] - The Company has timely filed all required Tax Returns and paid all Taxes due, with adequate accruals for Tax liabilities[93] - No material liabilities under ERISA Title IV or Section 412 of the Code have been incurred that remain unsatisfied[99] - All employee benefit plans have been established in compliance with applicable laws, except as would not likely have a material adverse effect[98] - The Company has provided complete copies of each Company Benefit Plan and related documents to the Parent[97] Business Operations - The Company has not engaged in any improper or illegal accounting or auditing practices since January 1, 2023[87] - The Company has conducted its business in the ordinary course consistent with past practices without any material adverse changes[89] - The Company has not provided retiree health or life benefits beyond those required by law[102] - Since January 1, 2023, no individual has been improperly excluded from participation in any Company Benefit Plan[103] - The Company and its Subsidiaries are in compliance with all Anti-Discrimination Laws, with no pending labor disputes[110] - The Company has not received any material allegations of sexual harassment against employees at the director level or above since January 1, 2023[112] - The Company is in compliance with all applicable Environmental Laws and has not received any notices of violations since January 1, 2023[119] Property and Contracts - The Company has good and marketable title to all its material properties and assets, with no significant liens affecting its business operations[125] - The Company is not bound by any material contracts that would require payments exceeding $1,000,000 in connection with acquisitions or dispositions[126] - The Company has material contracts that include obligations exceeding $1,000,000 in aggregate for indebtedness and capital expenditures[128] - The Company has a valid and legally binding obligation for each material contract, which is in full force and effect[129] Intellectual Property - The Company owns all rights to its intellectual property free and clear of all liens, ensuring no material adverse effect[135] - The Company has maintained business systems capable of tracking development costs associated with government contracts[141] - The Company has not received any written requests for information from governmental authorities regarding its intellectual property in the past six years[142] - The Company has taken steps to maintain the confidentiality of proprietary information, including trade secrets[143] - The Company has not made commitments to standards-setting bodies that would impair its control over its intellectual property[145] - The Company has no pending actions or investigations regarding the validity or enforceability of its Intellectual Property (IP) rights, and all Registered Company IP is subsisting[147] Cybersecurity and Data Privacy - The Company has not experienced any unauthorized access or breaches of its IT systems since January 1, 2023, indicating strong cybersecurity measures[155] - The Company has sufficient rights to use Personal Data held for its business purposes, and these rights will remain unchanged post-merger[156] - There are no unsatisfied requests related to Privacy and Data Processing Requirements that the Company has failed to respond to[165] Government Contracts - The Company has a list of Current Government Contracts valued over $1,000,000, which includes active contracts and those for which final payment has not yet been received[167] - All Current Government Contracts are legally awarded, valid, and binding, with no current bid protests affecting them[169] - The Company has complied with all terms and conditions of each Government Contract and Government Bid over the past six years[171] - No Government Contracts have been terminated for default or cause in the past six years[174] - The Company has not been subject to any adverse past performance evaluations in connection with any Government Contract in the past four years[182] - All Cost or Pricing Data submitted in support of Government Contracts were current, accurate, and complete in all material respects over the past six years[183] - The Company has not been debarred or suspended from participation in Government Contracts in the past four years[184] - There have been no violations of the False Claims Act or significant overpayments related to Government Contracts in the past six years[186] - The Company has disclosed all Organizational Conflicts of Interest as required in connection with Government Contracts[188] - The Company has not undergone any audits or investigations by Governmental Authorities related to Government Contracts in the past six years[189] - The Company's cost accounting and billing systems have complied with applicable requirements of Government Contracts, with no final determinations of noncompliance in the past six years[191] - The Company has been in material compliance with data security and cybersecurity requirements related to Government Contracts, with no reported breaches in the past six years[192] - There have been no material cost overruns on Current Government Contracts that would likely have a Company Material Adverse Effect[194] - The Company has a backlog of Current Government Contracts, with specific dollar amounts for Funded and Unfunded Backlog as of December 31, 2025[196] - The Company has a complete list of its top 20 customers for fiscal year 2025, with no indications of cancellations or modifications from these customers[197] - The Company has a complete list of its top 10 suppliers for calendar year 2025, with no indications of cancellations or modifications from these suppliers[198]

Financial Performance - Baker Hughes reported fourth-quarter revenue of $7,386 million, a 5% sequential increase and flat year-over-year[20]. - The company achieved a record full-year Adjusted EBITDA of $4,825 million, up 5% year-over-year[6]. - Fourth-quarter attributable net income was $876 million, a 44% sequential increase but a 26% decrease year-over-year[21]. - Adjusted diluted EPS for the fourth quarter was $0.78, reflecting a 14% sequential increase and a 12% year-over-year increase[27]. - Baker Hughes reported a net income attributable to the company of $876 million for Q4 2025, compared to $609 million in Q3 2025 and $1,179 million in Q4 2024, reflecting a decrease of 27% year-over-year[47]. - Revenue for Q4 2025 was $7,386 million, slightly up from $7,364 million in Q4 2024 and an increase from $7,010 million in Q3 2025[47]. - The company achieved free cash flow of $1,341 million in Q4 2025, compared to $699 million in Q3 2025 and $894 million in Q4 2024[44]. - Total revenue for the year ended December 31, 2025, was $27,733 million, a slight decrease from $27,829 million in 2024[49]. - Baker Hughes' adjusted net income attributable to the company for Q4 2025 was $772 million, compared to $678 million in Q3 2025 and $694 million in Q4 2024[43]. - The company incurred restructuring costs of $215 million in Q4 2025, down from $258 million in Q4 2024[47]. - Cash and cash equivalents at the end of Q4 2025 were $3,715 million, an increase from $3,364 million at the end of Q4 2024[51]. - The company paid dividends of $0.23 per Class A common share in Q4 2025, consistent with Q3 2025 and an increase from $0.21 in Q4 2024[47]. Orders and Bookings - IET (Industrial & Energy Technology) secured fourth-quarter bookings of $4 billion, contributing to a record full-year total of $14.9 billion[5]. - Remaining Performance Obligations (RPO) reached $35.9 billion in the fourth quarter, with IET RPO at $32.4 billion[25]. - OFSE orders for Q4 2025 were $3,862 million, a decrease of $206 million, or 5% sequentially, but an increase of $265 million, or 33% year-over-year[31]. - IET orders for Q4 2025 were $4,024 million, an increase of $269 million, or 7% year-over-year, driven by strength in Climate Technology Solutions and Industrial Technology[35]. - Total year 2025 orders were $29,585 million, a 5% increase from 2024[39]. Revenue and Segment Performance - OFSE revenue for Q4 2025 was $3,572 million, down $63 million, or 2% sequentially, and down $298 million, or 8% year-over-year[31]. - IET revenue for Q4 2025 was $3,814 million, an increase of $321 million, or 9% year-over-year, primarily from Gas Technology Equipment and Services[36]. - Total year 2025 segment revenue was $27,733 million, remaining relatively stable compared to 2024[39]. EBITDA and Margins - Segment EBITDA for Q4 2025 was $647 million, a decrease of $25 million, or 4% sequentially, attributed to lower volume[33]. - Segment EBITDA for IET in Q4 2025 was $761 million, an increase of $121 million, or 19% year-over-year, driven by productivity and volume[37]. - The EBITDA margin for OFSE in Q4 2025 was 18.1%, down 0.4 percentage points sequentially and down 1.4 percentage points year-over-year[30]. - Total year 2025 segment EBITDA was $5,100 million, a 3% increase from 2024[39]. Future Outlook - Baker Hughes anticipates organic Adjusted EBITDA growth in the mid-single digits range for 2026, with IET margins targeting 20%[8]. - The company plans to discuss its future outlook and results in an investor conference call scheduled for January 26, 2026[56]. Operational Context - Baker Hughes operates in over 120 countries, providing energy technology solutions to industrial customers worldwide[60]. - The company emphasizes the impact of geopolitical risks, including conflicts in petroleum-producing regions like Russia and Ukraine, on its operations[59]. - Economic conditions, such as inflation and interest rates, significantly affect Baker Hughes' supply chain costs and customer demand[58]. - The company faces risks related to the volatility in crude oil and natural gas prices, which can impact exploration and production expenditures[58]. - Baker Hughes is focused on executing orders and revenue performance obligations (RPO) in accordance with agreed specifications[58]. - The company highlights the importance of OPEC policies and adherence to production quotas on market conditions[58]. - Baker Hughes is committed to making energy safer, cleaner, and more efficient through innovative technologies developed over a century[60]. - The company is exposed to cybersecurity risks and potential attacks that could disrupt operations[59]. - Baker Hughes acknowledges the potential impact of severe weather conditions on energy demand and exploration activities[58]. - The company is actively monitoring the effects of government disruptions and sanctions on its business operations[58].

Financial Performance - For Q4 2025, First Financial Bankshares reported earnings of $73.31 million, up from $52.27 million in Q3 2025 and $62.32 million in Q4 2024, with diluted earnings per share at $0.51 compared to $0.36 and $0.43 respectively[1][2] - For the year ended December 31, 2025, net income was $253.58 million, reflecting a 13.45% increase from $223.51 million in 2024, with diluted earnings per share rising to $1.77 from $1.56[2] - Net interest income for the year ended December 31, 2025, was $500,887 thousand, an increase of 17.3% compared to $426,741 thousand in 2024[19] - Noninterest income for the year ended December 31, 2025, was $130,716 thousand, up from $123,989 thousand in 2024, marking a growth of 5.5%[19] - The efficiency ratio improved to 45.53% in 2025 from 47.23% in 2024, indicating better cost management[19] - Return on average assets for 2025 was 1.76%, slightly up from 1.68% in 2024[19] - Return on average equity increased to 14.59 in 2025, compared to 14.51 in 2024, showing enhanced profitability[19] Asset and Loan Growth - Total assets grew to $15.45 billion as of December 31, 2025, compared to $13.98 billion at the end of 2024[9] - Loans increased by $245.18 million, or 3.10%, to $8.16 billion as of December 31, 2025, compared to $7.91 billion in 2024[9] - Average interest-earning assets increased to $14.08 billion in Q4 2025, up from $12.86 billion in Q4 2024[3] - Total assets increased to $15,446,476 thousand as of December 31, 2025, up from $14,841,528 thousand in the previous quarter, representing a growth of 4.1%[17] - The company reported a significant increase in loans from $7,516,352 in 2024 to $8,123,368 in 2025, with interest income rising from $505,176 to $546,972[29] Deposits and Equity - Deposits and Repurchase Agreements totaled $13.41 billion, reflecting a growth of $1.25 billion, or 10.26%, from December 31, 2024[9] - Shareholders' equity rose to $1.92 billion as of December 31, 2025, compared to $1.61 billion in 2024, driven by growth in retained earnings[10] - Shareholders' equity increased from $1,539,947 in 2024 to $1,738,615 in 2025, indicating strong financial health[29] Credit Quality - The allowance for credit losses was $105.54 million, or 1.29% of total loans, as of December 31, 2025, compared to $98.33 million or 1.24% in 2024[5] - Nonperforming assets as a percentage of loans and foreclosed assets decreased to 0.69% as of December 31, 2025, down from 0.80% a year earlier[6] - The provision for credit losses increased to $28,609 thousand in 2025, compared to $13,821 thousand in 2024, indicating a rise of 106.5%[19] - The net charge-offs (recoveries) to average total loans (annualized) was 0.02%, significantly lower than 1.07% in the previous quarter[21] - The total nonperforming assets as a percentage of loans held-for-investment and foreclosed assets was 0.69%, slightly down from 0.71% in the previous quarter[21] Expenses and Dividends - Total noninterest expense rose to $293,391 in 2025, compared to $265,063 in 2024, marking an increase of 10.7%[25] - Salaries, commissions, and employee benefits increased to $162,082 in 2025, up from $143,830 in 2024, reflecting a rise of 12.6%[25] - Cash dividends declared increased to $0.75 per share in 2025 from $0.72 in 2024, reflecting a commitment to returning value to shareholders[19] Market and Share Performance - The market value per share decreased to $29.87 in 2025 from $36.05 in 2024, indicating a shift in market perception[19]

Financial Performance - First Capital, Inc. reported a net income of $16.4 million, or $4.89 per diluted share, for the year ended December 31, 2025, compared to $11.9 million, or $3.57 per diluted share, for 2024, representing a 37.5% increase in net income year-over-year [1]. - For the quarter ended December 31, 2025, net income was $4.9 million, or $1.46 per diluted share, compared to $3.3 million, or $0.97 per diluted share, for the same period in 2024 [7]. - Net income attributable to First Capital, Inc. for the year ended December 31, 2025, was $16,367,000, representing a 37.5% increase from $11,940,000 in 2024 [23]. Interest Income and Margin - Net interest income after provision for credit losses increased by $6.7 million for the year ended December 31, 2025, driven by an increase in average tax-equivalent yield on interest-earning assets from 4.49% in 2024 to 4.85% in 2025 [2]. - Total interest income for Q4 2025 was $14,803,000, an increase of 12.2% from $13,192,000 in Q4 2024 [23]. - Net interest income after provision for credit losses rose to $10,851,000 in Q4 2025, up 19.6% from $9,062,000 in Q4 2024 [23]. - Net interest margin (tax-equivalent basis) for the year ended December 31, 2025, was 3.61%, compared to 3.20% in 2024 [27]. - The net interest margin for the three months ended December 31, 2025, improved to 3.72%, compared to 3.26% in the same period of 2024 [33]. Asset and Liability Management - Total assets increased to $1.27 billion at December 31, 2025, up from $1.19 billion at December 31, 2024, with deposits rising by $56.6 million to $1.12 billion [14]. - Total assets increased to $1,271,995,000 as of December 31, 2025, up from $1,187,523,000 in 2024, reflecting a growth of 7.1% [24]. - Stockholders' equity increased to $134,931,000 as of December 31, 2025, compared to $115,130,000 in 2024 [33]. - The ratio of average interest earning assets to average interest bearing liabilities was 135.89% for Q4 2025, slightly up from 134.18% in Q4 2024 [33]. Noninterest Income and Expenses - Noninterest income increased by $809,000 for the year ended December 31, 2025, primarily due to a $149,000 gain on equity securities compared to a $374,000 loss in 2024 [4]. - Noninterest income for the quarter ended December 31, 2025, increased by $358,000, driven by a $148,000 increase in gains on the sale of loans and a $53,000 increase in ATM and debit card fee income [11]. - Noninterest expenses rose by $1.7 million for the year ended December 31, 2025, mainly due to increases in compensation and benefits ($1.3 million) and occupancy and equipment expenses ($472,000) [5]. Credit Losses and Taxation - The provision for credit losses for the year decreased from $1.4 million in 2024 to $1.1 million in 2025, reflecting a lower incremental change in estimated lifetime expected credit losses [3]. - The effective tax rate increased to 17.7% for the year ended December 31, 2025, compared to 15.6% for 2024, due to a higher proportion of net income being subject to taxation [6]. Loan Growth - Gross loans reached $664,208,000 in 2025, an increase of 3.7% from $640,480,000 in 2024 [24]. - Average interest earning assets increased to $1,204,381,000 in Q4 2025, compared to $1,153,409,000 in Q4 2024, reflecting a growth of 4.5% [33].