Capital Ratios and Requirements - The company's Common Equity Tier 1 Capital ratio is 17.35%, exceeding the regulatory requirement for being considered "Well Capitalized" [141] - The company is committed to maintaining regulatory capital in excess of levels required to be considered well capitalized [153] - The Association's Tier 1 (leverage) capital ratio was 9.81% as of December 31, 2025, indicating a well-capitalized status despite a $65 million cash dividend payment [168] - The Company aims to maintain minimum capital ratios exceeding total capital to risk-weighted assets of 13.0%, tier 1 capital to net average assets of 9.0%, and tier 1 capital to risk-weighted assets of 11.0% [258] - As of December 31, 2025, the Company reported total capital to risk-weighted assets of $1,978,291, representing a ratio of 18.31% [260] Loan and Mortgage Activity - First mortgage loan originations for the three months ended December 31, 2025, totaled $315.39 million, a 78.6% increase from $176.49 million in the same period of 2024 [154] - The balance of first mortgage loans held for investment as of December 31, 2025, was $10.68 billion, down from $10.84 billion as of September 30, 2025 [154] - The average credit score for first mortgage loans originated during the current quarter was 772, with an average loan-to-value (LTV) ratio of 71% [166] - As of December 31, 2025, loans originated or acquired had a balance of $15.83 billion, with only $36.8 million, or 0.23%, classified as delinquent [166] - The total residential core loans reached $10.68 billion, with a significant portion being in the <80% loan-to-value (LTV) category, totaling $5.45 billion [194] Interest Rate Management - The company maintains a multi-disciplined risk management program that includes stress testing and scenario analysis for interest rate risk, credit risk, market risk, and liquidity risk [144] - The company utilizes interest rate swaps to convert short-term FHLB advances and brokered certificates of deposit into long-term, fixed-rate borrowings [153] - The company employs interest rate swaps to extend the duration of its funding sources, aiming to manage interest rate risk effectively [160] - The interest rate spread improved to 1.47% for the quarter ended December 31, 2025, compared to 1.34% for the same quarter in 2024 [225] - In the event of a 200 basis point increase in interest rates, the Company would experience a 19.98% decrease in estimated economic value of equity (EVE) to $1,279,286 [272] Credit Losses and Delinquencies - The allowance for credit losses on loans increased to $74.98 million by the end of the period, with total charge-offs amounting to $448,000 [180] - The total allowance for credit losses decreased to $104.1 million from $104.4 million at the end of the previous quarter, with a net release of $1.0 million for the period [183] - The allowance for credit losses on loans to non-accrual loans was 192.39% at the end of the period, indicating strong coverage [180] - The total amount of loans delinquent for 90 days or more was $17.32 million, representing 0.11% of total net loans [206] - Delinquencies in the home equity lines of credit portfolio have shown an upward trend due to elevated interest rates tied to the prime rate [207] Financial Performance - Net income decreased by $0.1 million, or 0.4%, to $22.3 million for the quarter ended December 31, 2025, from $22.4 million for the same quarter in 2024 [227] - Total shareholders' equity increased by $7.0 million, or less than 1%, to $1.90 billion at December 31, 2025, from $1.89 billion at September 30, 2025 [223] - Interest and dividend income increased by $11.0 million, or 5.9%, to $197.8 million compared to $186.8 million in the same quarter last year [229] - Non-interest income rose by $1.5 million, or 23.1%, to $8.0 million, primarily due to increases in loan fees and net gains on loan sales [239] - Non-interest expense increased by $8.3 million, or 17.3%, to $56.2 million, mainly due to higher marketing expenses and salaries [240] Asset Management - Total assets increased by $42.4 million, or less than 1%, to $17.50 billion at December 31, 2025, from $17.46 billion at September 30, 2025 [212] - Cash and cash equivalents rose by $27.3 million, or 6.4%, to $456.7 million at December 31, 2025, compared to $429.4 million at September 30, 2025 [213] - Loans held for investment increased by $78.4 million, or 0.5%, to $15.74 billion at December 31, 2025, from $15.66 billion at September 30, 2025 [216] - The total home equity lines of credit increased to $4.239 billion as of December 31, 2025, from $4.063 billion at September 30, 2025 [189] - The total home equity loans increased to $809.4 million as of December 31, 2025, compared to $749.5 million at September 30, 2025 [189]

Financial Performance - RGC Resources, Inc. reported consolidated earnings of $4.9 million, or $0.47 per share, for Q1 2026, a decrease from $5.3 million, or $0.51 per share, in Q1 2025[2] - Operating revenues increased to $30.26 million in Q1 2026 from $27.29 million in Q1 2025, reflecting a growth of approximately 7.3%[8] - Operating expenses rose to $23.71 million in Q1 2026, up from $19.96 million in Q1 2025, indicating an increase of about 18.0%[8] - Cash dividends per common share increased to $0.2175 in Q1 2026 from $0.2075 in Q1 2025, representing a growth of approximately 9.6%[8] Rate Case and Revenue - The company filed a rate case seeking $4.3 million in additional annualized revenue to address higher costs, with interim rates effective January 1, 2026[2] Assets and Liabilities - Total assets as of December 31, 2025, were $341.04 million, a slight increase from $335.17 million in 2024[10] - Current liabilities decreased significantly to $40.10 million in Q1 2026 from $64.32 million in Q1 2025, a reduction of about 37.6%[10] - Long-term debt increased to $137.99 million in Q1 2026 from $111.34 million in Q1 2025, reflecting an increase of approximately 24.0%[10] Customer Growth and Infrastructure - The company emphasized continued customer growth and infrastructure investments, with a focus on system reliability[3] - CEO Paul Nester noted that customer growth was supported by new housing and a higher-than-normal number of reconnections this quarter[3]

Revenue Growth and Projections - Datavault AI signed $49 million in Tokenization and Technology Licensing agreements in Q4 2025, impacting FY2025 and FY2026 revenue[5] - The company expects at least $30 million in revenue for FY2025, representing over 1,000% growth compared to $2.7 million in FY2024[5] - Datavault AI targets a revenue of at least $200 million for FY2026, indicating substantial growth potential[5] Market Potential and Strategy - The company aims to unlock a multi-billion dollar data monetization market through AI-driven solutions in over 100 U.S. cities starting in the second half of 2026[11] - Datavault AI estimates a market potential of $1 billion per U.S. city, aggregating to over $100 billion annually with full deployment across 100+ cities[11] - A strategic partnership with NYIAX is expected to enhance data monetization capabilities, tapping into a global data monetization market projected to exceed $700 billion by 2025[7] Technological Advancements and Investments - Datavault AI secured a $150 million strategic investment from Scilex Holding Company to build a supercomputer, enhancing its technological capabilities[7] - The company signed a multi-million dollar tokenization services agreement with Triton Geothermal, with potential fees of up to $8 million from a projected $125 million digital token offering[11] - Datavault AI's Carbon Credit Tokenization Patent aims to create a new asset class for trading carbon credits, integrating with NYIAX's financial framework[7] Market Trends and Data Sources - The global holographic display market is expected to grow to over $31 billion by 2033, with Datavault AI's DVHolo solution positioned to capitalize on this trend[7] - The company references market data obtained from independent third-party sources, including industry publications and market research reports, indicating its market position and share[16] - Management's estimates and calculations are based on internal surveys and independent sources, though these estimates have not been independently verified[16] - Future performance assumptions are subject to significant uncertainty and risk, which could lead to material differences from current estimates[16]

Financial Performance - Total revenue for the three months ended December 31, 2025, was $1,123,019, representing a 30% increase from $866,381 in the same period of 2024[224] - Operating income for the same period was $117,626, compared to a loss of $4,322 in the prior year, indicating a significant turnaround[224] - Net income for the three months ended December 31, 2025, was $129,586, a 61% increase from $80,360 in the same period of 2024[224] - The total operating expenses for the three months ended December 31, 2025, were $1.01 billion, a 15% increase from $870.7 million in the same period of 2024[260] - Net income for the three months ended December 31, 2025, was $129.6 million, a 61% increase from $80.4 million in the same period in 2024[260] Gross Merchandise Volume (GMV) - The Gross Merchandise Volume (GMV) for the three months ended December 31, 2025, was $13.8 billion, representing a 36% increase from $10.1 billion in the same period in 2024[251] - For the three months ended December 31, 2025, Pay-in-X represented 17% of total GMV facilitated through the platform, up from 15% in the same period of 2024[226] - Interest-bearing loans accounted for 67% of total GMV facilitated through the platform for the three months ended December 31, 2025, down from 72% in the same period of 2024[227] - GMV from 0% APR monthly installment loans was $2.1 billion for the three months ended December 31, 2025, representing a 65% increase from $1.3 billion in the same period in 2024[252] Consumer Metrics - The number of active consumers reached approximately 25.8 million as of December 31, 2025, a 23% increase from 21.0 million in the same period in 2024[254] - Transactions per active consumer increased by 20% to 6.4 for the twelve months ended December 31, 2025, compared to 5.3 for the same period in 2024[259] - Active consumers grew to 25.8 million as of December 31, 2025, up from 21.0 million as of December 31, 2024, with transactions per active consumer increasing from 5.3 to 6.4[265] - The number of consumer transactions increased by 44% for the three months ended December 31, 2025, compared to the same period in 2024[283] Revenue Streams - Merchant network revenue grew by 34% to $328.4 million for the three months ended December 31, 2025, compared to $244.9 million in the same period in 2024[260] - Merchant network revenue increased by $83.5 million, or 34%, and $150.3 million, or 35%, for the three and six months ended December 31, 2025, respectively, compared to the same periods in 2024, driven by a GMV increase of $3.6 billion, or 36%, and $6.8 billion, or 38%[263] - Interest income increased by 21% to $493.6 million for the three months ended December 31, 2025, compared to $409.4 million in the same period in 2024[260] - Interest income increased by $84.3 million, or 21%, and $161.3 million, or 21%, for the three and six months ended December 31, 2025, respectively, correlated with a 22% increase in the average balance of loans held for investment to $8.0 billion[267] - Gain on sales of loans increased by $59.9 million, or 48%, and $115.4 million, or 61%, for the three and six months ended December 31, 2025, respectively, with loan sale volume increasing to $6.0 billion and $10.9 billion[268] - Servicing income increased by $14.1 million, or 49%, and $27.8 million, or 51%, for the three and six months ended December 31, 2025, respectively, due to a 50% increase in the average unpaid principal balance of loans held by third-party investors to $9.1 billion[272] Expenses and Costs - Loss on loan purchase commitment increased by $25.8 million, or 37%, and $43.1 million, or 35%, for the three and six months ended December 31, 2025, respectively, due to a 33% increase in total volume of loans purchased to $10.8 billion and $19.5 billion[274] - Provision for credit losses increased by $61.2 million, or 40%, and $64.1 million, or 20%, for the three and six months ended December 31, 2025, respectively, primarily related to loans held for investment[276] - Funding costs increased by $4.0 million, or 4%, and $9.8 million, or 5%, for the three and six months ended December 31, 2025, respectively, driven by a 22% increase in average total funding debt to $7.2 billion[279] - Processing and servicing expense increased by $42.6 million, or 37%, and $81.3 million, or 39%, for the three and six months ended December 31, 2025, respectively, driven by a 40% increase in payment volume to $3.1 billion and $6.0 billion[281] - Technology and data analytics expense increased by $36.7 million, or 25%, for the three months ended December 31, 2025, compared to the same period in 2024[283] - Sales and marketing expense decreased by $37.3 million, or 27%, during the three months ended December 31, 2025, compared to the same period in 2024[285] - General and administrative expense increased by $1.8 million, or 1%, during the three months ended December 31, 2025, compared to the same period in 2024[287] - Other income, net, decreased by $71.6 million, or 82%, during the three months ended December 31, 2025, compared to the same period in 2024[289] Cash Flow and Financing - Net cash provided by operating activities was $548.3 million for the six months ended December 31, 2025[308] - Net cash used in investing activities was $1.5 billion for the six months ended December 31, 2025, primarily driven by purchases and origination of loans held for investment of $22.5 billion[310] - Net cash provided by financing activities was $1.3 billion for the six months ended December 31, 2025, with cash inflows driven by $18.4 billion in proceeds from the issuance of secured debt[313] - Cash outflows related to principal repayments on secured debt were $17.0 billion for the six months ended December 31, 2025[313] - The company has drawn an aggregate of $1.9 billion on its warehouse credit facilities as of December 31, 2025[296] - The company intends to add necessary funding capacity to support growth objectives as it expands into new geographies[298] Risk and Economic Environment - The macroeconomic environment, including interest rate changes and economic uncertainty, continues to impact consumer demand and loan repayments[238] - Continued volatility in interest rates may adversely impact consumers' spending levels and willingness to pay outstanding amounts owed[327] - The company maintains an interest rate risk management program, estimating that a hypothetical 100 basis point upward shock to interest rates would have a less than $70.0 million adverse impact on cash flows over the next 12 months[329] - The company was exposed to credit risk on $8.8 billion of loans held within its interim condensed consolidated balance sheet as of December 31, 2025[332] - The fair value of notes receivable and residual trust certificate retained interests in unconsolidated securitization trusts was $80.1 million as of December 31, 2025[333] - The company has sold $10.2 billion in unpaid principal balance loans subject to risk sharing arrangements as of December 31, 2025, with a maximum exposure to losses of $75.9 million[333] Future Plans - The company submitted applications to establish Affirm Bank on January 23, 2026, which would operate as a wholly owned, Nevada-chartered, FDIC-insured bank subsidiary[244] - The company expects seasonal fluctuations in GMV, with the strongest performance typically occurring during the fiscal second quarter due to holiday spending[237] - The company leverages a diverse capital ecosystem to support resilience across various macroeconomic conditions and economic cycles[239]

Financial Performance - Net sales increased by $199.9 million, or 10%, to $2,174.6 million for the three months ended December 31, 2025, compared to $1,974.7 million in the prior year[110] - Operating profit rose by $24.3 million, or 11%, to $238.4 million for the same period, driven by higher segment profit across all segments[112] - Net earnings decreased by $16.5 million, or 15%, to $96.8 million for the three months ended December 31, 2025, compared to $113.3 million in the prior year[110] Segment Performance - Post Consumer Brands segment net sales increased by $139.9 million, or 15%, to $1,103.8 million, driven by the inclusion of three months of 8th Avenue net sales of $217.2 million[120] - Foodservice segment net sales increased by $52.5 million, or 9%, to $669.1 million, with egg product sales up by $32.9 million, or 6%[122] - Refrigerated Retail segment net sales remained flat at $266.6 million, while segment profit increased by $6.2 million, or 26%, to $30.4 million[124] - Weetabix segment net sales increased by $10.3 million, or 8%, to $137.9 million, driven by favorable foreign currency exchange impact and higher volumes[126] - Segment profit for Post Consumer Brands increased by $1.2 million, or 1%, to $132.2 million, supported by lower integration costs of $11.7 million and reduced advertising expenses of $10.5 million[121] - Segment profit for Foodservice increased by $31.4 million, or 36%, to $117.5 million, primarily due to lower raw material costs of $26.0 million[123] - Refrigerated Retail segment profit increased by $6.2 million, or 26%, to $30.4 million, driven by lower manufacturing costs[125] Expenses and Cash Flow - Interest expense increased by $19.3 million, or 23%, to $103.4 million, attributed to lower interest income and higher average outstanding principal amounts of debt[113] - General corporate expenses increased by $21.5 million, or 58%, to $58.8 million for the three months ended December 31, 2025, primarily due to higher restructuring costs and increased net losses from economic hedges[128] - Cash provided by operating activities decreased by $74.7 million to $235.7 million for the three months ended December 31, 2025, driven by higher interest payments and cash outflows in the Post Consumer Brands and Foodservice segments[138] - Cash provided by investing activities was $261.8 million for the three months ended December 31, 2025, mainly from the sale of the Pasta Business for $378.5 million, offset by capital expenditures of $116.4 million[139] - Cash used in financing activities totaled $395.8 million for the three months ended December 31, 2025, including $1,300.0 million from the issuance of senior notes and $195.0 million repaid under the Revolving Credit Facility[141] Tax and Compliance - The effective income tax rate was 22.0% for the three months ended December 31, 2025, compared to 22.1% in the prior year[117] - As of December 31, 2025, the company was in compliance with its financial covenants under the Credit Agreement, with no anticipated non-compliance in the foreseeable future[143] - As of December 31, 2025, the company was in compliance with the secured net leverage ratio financial covenant of not exceeding 4.25 to 1.00[143] Strategic Acquisitions and Future Outlook - The company completed the acquisition of 8th Avenue Food & Provisions, Inc. on July 1, 2025, enhancing its product offerings in nut butters and granola[104] - The company has made strategic acquisitions, including 8th Avenue and pet food assets in April 2023 and December 2023, which are part of its growth strategy[150] - The company expects to continue generating positive cash flows from operations, with sufficient liquidity to meet working capital requirements and other financing needs[131] - Cash on hand and cash flows from operations are projected to be adequate for future commitments, including capital expenditures and research and development activities[131] Risks and Legal Considerations - The company faces various risks including supply chain disruptions, economic conditions, and competition in product categories that could impact future performance[150] - The company is subject to various legal and regulatory risks that could affect its operations and financial results[150] - The company acknowledges the potential for impairment in the carrying value of goodwill and other assets[150] - The company has obligations related to Bob Evans Farms, Inc. that may impact its financial position[150] - There have been no significant changes to the company's critical accounting estimates since September 30, 2025[146] Shareholder Actions - The company repurchased 3.7 million shares of common stock at an average price of $101.57 per share, totaling $382.2 million[137] - The company issued $1,300.0 million principal value of 6.50% senior notes and redeemed $1,235.0 million principal value of 5.50% senior notes at a premium of $22.6 million during the three months ended December 31, 2025[130] Forward-Looking Statements - The company does not undertake any obligation to update forward-looking statements after the report date[151]

Financial Performance - Net sales for the first quarter were $2,174.6 million, a 10.1% increase from $1,974.7 million in the prior year, including $224.6 million from acquisitions[5] - Operating profit was $238.4 million, an 11.3% increase compared to $214.1 million in the prior year[6] - Net earnings decreased by 14.6% to $96.8 million from $113.3 million in the prior year[7] - Adjusted EBITDA was $418.2 million, a 13.1% increase from $369.9 million in the prior year[9] - Net sales for the three months ended December 31, 2025, were $2,174.6 million, an increase of 10.1% compared to $1,974.7 million in the same period of 2024[32] - Gross profit for the same period was $638.5 million, up from $595.3 million, reflecting a gross margin improvement[32] - Operating profit increased to $238.4 million from $214.1 million, indicating a growth of 11.3% year-over-year[32] - Net earnings for the three months ended December 31, 2025, were $96.8 million, a decrease from $113.3 million in the prior year[32] Segment Performance - Post Consumer Brands segment net sales increased by 14.5% to $1,103.8 million, including $217.2 million from 8th Avenue[10] - Foodservice segment net sales rose by 8.5% to $669.1 million, with a segment profit increase of 36.5% to $117.5 million[11] - Refrigerated Retail segment net sales were flat at $266.6 million, but segment profit increased by 25.6% to $30.4 million[12] - The Post Consumer Brands segment reported net sales of $1,103.8 million, up from $963.9 million, showing strong growth in this category[38] - Segment Profit for Post Consumer Brands was $131.0 million, representing 13.6% of Net Sales[61] - Adjusted EBITDA for the same segment was $204.8 million, accounting for 21.2% of Net Sales[61] - Segment Profit for Refrigerated was $86.1 million, which is 14.0% of Net Sales[61] - Adjusted EBITDA for Refrigerated was $116.8 million, representing 18.9% of Net Sales[61] - Segment Profit for Retail was $24.2 million, equating to 9.1% of Net Sales[61] - Adjusted EBITDA for Retail was $41.6 million, which is 15.6% of Net Sales[61] Outlook and Guidance - The company raised its fiscal year 2026 Adjusted EBITDA outlook to $1,550-$1,580 million from a previous range of $1,500-$1,540 million[19] - Adjusted EBITDA outlook for fiscal year 2026 is expected to be positively impacted by the 8th Avenue acquisition, excluding the pasta business[27] - Capital expenditures for fiscal year 2026 are expected to range between $350-$390 million, including investments in cage-free egg facility expansion[19] Cash Flow and Debt - Cash provided by operating activities was $235.7 million, down from $310.4 million in the same quarter of 2024[36] - Total assets decreased to $12,984.3 million from $13,528.4 million as of September 30, 2025[34] - Long-term debt increased slightly to $7,457.9 million from $7,421.7 million, indicating a stable leverage position[34] - Net cash provided by operating activities for Q4 2025 was $235.7 million, down from $310.4 million in Q4 2024[62] - Free Cash Flow for Q4 2025 was $119.3 million, compared to $171.4 million in Q4 2024[62] Adjustments and Costs - Adjusted Net Earnings for Q4 2025 were $123.7 million, compared to $111.9 million in Q4 2024, reflecting a year-over-year increase of approximately 10.4%[52] - Adjusted EBITDA for Q4 2025 was $418.2 million, up from $369.9 million in Q4 2024, representing a growth of about 13.0%[57] - Adjusted EBITDA as a percentage of Net Sales increased to 19.2% in Q4 2025 from 18.7% in Q4 2024, indicating improved operational efficiency[57] - Total Net Adjustments for Q4 2025 amounted to $38.9 million, compared to a negative adjustment of $1.2 million in Q4 2024[52] - The company incurred $22.6 million in debt premiums paid in Q4 2025, significantly higher than $4.4 million in Q4 2024[52] - Restructuring and facility closure costs in Q4 2025 were $23.0 million, compared to $3.6 million in Q4 2024, indicating increased restructuring activities[52] - The company reported a loss on the sale of business of $9.7 million in Q4 2025, while there were no such losses reported in Q4 2024[52] - Integration costs for Q4 2025 were $4.3 million, down from $15.6 million in Q4 2024, suggesting a decrease in integration-related expenses[52] - The income tax effect on adjustments for Q4 2025 was $12.0 million, compared to $0.2 million in Q4 2024, reflecting a significant increase in tax-related adjustments[52] Corporate Strategy - The company is focused on new product introductions and market expansion strategies to enhance competitive positioning[30] - General corporate expenses and other for Q4 2025 totaled $(37.3) million[61] - Integration costs for the period were $15.6 million[61]

Financial Performance - Reported sales for Q4 2025 increased 14% to $963 million compared to $848 million in the prior year, with core sales growing 5%[3] - Reported net income decreased 26% to $74 million, and earnings per share decreased 24% to $1.13; adjusted earnings per share were $1.25[4] - For the year ended December 31, 2025, reported sales increased 5% to $3.78 billion, with core sales also increasing 2%[12] - Net sales for Q4 2025 reached $962.736 million, a 13.5% increase from $848.088 million in Q4 2024[26] - Consolidated net sales for the year ended December 31, 2025, reached $3,777,181,000, an increase from $3,000,000,000 in 2024[32] - Reported net income for the year ended December 31, 2025, was $392,497,000, with a net income margin of 10.4%[32] - Reported net income for the three months ended December 31, 2025, was $74,270,000, with a reported net income margin of 7.7%[31] - Net income attributable to AptarGroup, Inc. for 2025 was $392.789 million, compared to $374.541 million in 2024, reflecting a 4.2% increase[26] Segment Performance - Pharma segment reported sales growth of 10%, driven by strong demand for injectables and systemic nasal drug delivery technologies[5] - Beauty segment reported sales growth of 24%, with core sales growth of 10%, attributed to increased demand for fragrance dispensing[9] - Closures segment reported sales rose 5%, with core sales increasing 1%, supported by a 4% currency benefit[10] Cash Flow and Capital Expenditures - Cash flow from operations for the year was $570 million, with free cash flow at $303 million[16] - Free cash flow for the year ended December 31, 2025, was $302,888, down from $366,932 in 2024[37] - Capital expenditures for 2025 were $270.419 million, slightly down from $276.481 million in 2024[30] - Capital expenditures for the year ended December 31, 2025, were $270,419, slightly down from $276,481 in 2024[37] Shareholder Returns - The company plans to return $206 million to shareholders through share repurchases and dividends in Q4 2025, with a new authorization for up to $600 million in stock repurchases[4][18] Earnings Guidance - For Q1 2026, adjusted earnings per share guidance is expected to be in the range of $1.13 to $1.21, assuming an effective tax rate of 21.0% to 23.0%[17] - The company expects adjusted earnings per share for Q1 2026 to be in the range of $1.13 to $1.21, based on an effective tax rate of 21.0% to 23.0%[40] Balance Sheet - Cash and equivalents increased to $402.424 million in 2025 from $223.844 million in 2024, marking an increase of 80%[28] - Total assets grew to $5.253 billion in 2025, up from $4.432 billion in 2024, indicating a 18.5% increase[28] - Total liabilities increased to $2.540 billion in 2025 from $1.946 billion in 2024, a rise of 30.5%[28] Other Financial Metrics - Adjusted EBITDA margin was 19.8%, down from 23.0% in the prior year, reflecting higher production costs[4] - Adjusted EBITDA for the year ended December 31, 2025, was $815,102,000, representing an adjusted EBITDA margin of 21.6%[32] - Adjusted EBIT for the year ended December 31, 2025, was $527,739,000, reflecting a significant increase from the previous year[32] - Interest expense for the year ended December 31, 2025, totaled $52,737,000, reflecting the company's financing costs[32] - The company reported a net investment loss of $1,328,000 for the three months ended December 31, 2025[31] - The company reported a net loss on remeasurement of equity securities of $483 thousand in 2025, compared to a gain of $1.713 million in 2024[30] - The company reported a net investment loss of $1,713 for the year ended December 31, 2024[33] Share Count - The average number of diluted shares outstanding decreased to 66.725 million in 2025 from 67.691 million in 2024[26] - Average number of diluted shares outstanding for the year 2025 was 66,725, with net income attributable to AptarGroup, Inc. per diluted share at $5.89[36] - Adjusted net income attributable to AptarGroup, Inc. for the year was $382,775, with an adjusted net income per diluted share of $5.74[36]

Financial Performance - Revenues for the three months ended December 31, 2025, were $212,197, representing a 8.6% increase from $195,412 in the same period of 2024[17] - Gross profit for the three months ended December 31, 2025, was $152,541, up from $140,414 in the prior year, indicating a gross margin improvement[17] - Net earnings for the three months ended December 31, 2025, were $39,873, compared to $11,210 in the same period of 2024, reflecting a significant increase in profitability[18] - Basic earnings per share for continuing operations were $0.63 for the three months ended December 31, 2025, compared to $0.15 in the same period of 2024[17] - For the nine months ended December 31, 2025, net earnings reached $75,040,000, up from $5,453,000 in the prior year, indicating a substantial growth[21] - Revenue for the nine months ended December 31, 2025, was $606.8 million, up from $556.9 million in 2024, representing a growth of approximately 9%[41] - The Company’s subscription revenue for the nine months ended December 31, 2025, was $456.8 million, an increase from $423.7 million in 2024, indicating a growth of approximately 8%[41] Assets and Liabilities - Total current assets increased to $679,309 as of December 31, 2025, from $656,189 as of March 31, 2025[14] - Total current liabilities were $250,000 as of December 31, 2025, slightly up from $247,518 as of March 31, 2025[14] - The company reported a total stockholders' equity of $962,270 as of December 31, 2025, compared to $948,859 as of March 31, 2025, indicating growth in shareholder value[14] - Cash flows from operating activities for the nine months ended December 31, 2025, were $108,853,000, compared to $91,385,000 for the same period in 2024, showing improved operational efficiency[28] - The cash, cash equivalents, and restricted cash at the end of the period were $395,888,000, a decrease from $413,926,000 at the beginning of the period[30] - Other current assets increased to $46,770 thousand as of December 31, 2025, from $38,886 thousand on March 31, 2025, reflecting a growth of 20%[68] - Property and equipment, net of accumulated depreciation, decreased to $5,506 thousand as of December 31, 2025, compared to $6,184 thousand on March 31, 2025, indicating a decline of approximately 11%[69] - Goodwill increased slightly to $502,174 thousand as of December 31, 2025, from $501,756 thousand on March 31, 2025, showing a marginal increase of 0.08%[70] - Total intangible assets, net, decreased to $11,917 thousand as of December 31, 2025, from $20,167 thousand on March 31, 2025, representing a decline of 41%[71] Expenses and Cost Management - Research and development expenses for the three months ended December 31, 2025, were $33,823, down from $42,735 in the same period of 2024, suggesting a focus on cost management[17] - Employee-related expenses for the three months ended December 31, 2025, were $100.7 million, down from $113.1 million in the same period of 2024[98] - Non-cash stock compensation expense for the nine months ended December 31, 2025, was $64,058,000, down from $83,813,000 in the previous year[28] - The Company’s operating lease costs for the nine months ended December 31, 2025, were $5.7 million, compared to $6.1 million in 2024, showing a decrease of about 6%[44] - Total non-cash stock-based compensation for the nine months ended December 31, 2025, was $64.058 million, a decrease of 23.7% from $83.813 million in 2024[47] Shareholder Activities - The company reported a net cash used in financing activities of $123,273,000 for the nine months ended December 31, 2025, compared to $76,425,000 in the previous year, reflecting increased stock repurchases[28] - The Company repurchased 4.3 million shares for $118.8 million during the nine months ended December 31, 2025, with a total of 45.8 million shares repurchased for $1.2 billion under the program[39] - The remaining capacity for share repurchases as of December 31, 2025, is $137.4 million, following the board's approval of an additional $200.0 million in repurchases[38] - The company acquired treasury stock amounting to $118,930,000 during the nine months ended December 31, 2025[28] Future Outlook and Strategic Initiatives - The company anticipates continued growth opportunities despite potential risks related to macroeconomic conditions and regulatory changes[7] - The company is actively pursuing strategies to enhance its competitive position and improve operational efficiencies[7] - The Company expects to adopt ASU 2023-09, which requires greater disaggregated information about the effective tax rate reconciliation, beginning with the fourth quarter ending March 31, 2026[36] - The Company maintained a full valuation allowance on its net deferred tax assets, with a potential release of this allowance expected within the next 12 months due to recent profitability[93] Tax and Regulatory Considerations - The provision for income taxes was influenced by nondeductible stock-based compensation and the 2025 Tax Act, which is expected to materially decrease the Company's estimated annual effective tax rate (AETR) for fiscal 2026[94] Miscellaneous - Comprehensive income for the three months ended December 31, 2025, included foreign currency translation adjustments of $132,000[20] - The total number of common shares outstanding increased to 161,551,922 as of December 31, 2025, from 158,530,487 a year earlier[21] - The Company operates as a single segment, focusing on its data collaboration platform, with revenue generated from subscription fees and transactional usage-based fees[95] - The Company held $6.2 million in strategic investments without readily determinable fair values as of December 31, 2025, with a recorded impairment charge of $0.1 million during the nine months ended December 31, 2025[105]

Financial Performance - Net sales for the second quarter of fiscal year 2026 decreased by 5% to $341.3 million compared to $357.4 million in the same quarter of fiscal year 2025[113] - Gross profit increased by 19% to $27.9 million, representing 8.2% of net sales, compared to 6.6% in the prior year[113] - Selling and administrative expenses rose by 41% to $14.9 million, accounting for 4.4% of net sales, up from 3.0%[113] - Operating income improved by 31% to $10.8 million, or 3.2% of net sales, compared to 2.3% in the previous year[113] - Net income for the second quarter increased by 6% to $3.6 million, with diluted earnings per share rising to $0.15 from $0.14[113] Segment Performance - The automotive vertical experienced a significant decline, with net sales dropping 13% to $162.3 million in the second quarter[113] - Medical segment sales increased by 15% to $96.3 million, while industrial sales decreased by 5% to $82.7 million[113] - Automotive end market sales decreased both quarter over quarter and year-to-date due to the loss of a major program and tariff impacts, while medical end market sales increased driven by new program wins[120] Restructuring and Expenses - The company recorded a pre-tax restructuring expense of $1.8 million in the second quarter due to alignment with reduced market demand[118] Financial Ratios and Liquidity - The current ratio stands at 2.2, and the debt-to-equity ratio is 0.3, indicating a strong balance sheet[109] - As of December 31, 2025, the company had $77.9 million in cash and $285.1 million in unused borrowings under credit facilities, indicating a strong liquidity position[139] Cash Flow and Investments - Net cash provided by operating activities for the first six months of fiscal year 2026 was $14.9 million, a significant decrease from $74.9 million in the same period of fiscal year 2025[127] - Net cash used for investing activities in the first six months of fiscal year 2026 was $24.4 million, primarily for capital investments in a new medical facility and equipment[131] - The company sold $144.1 million of accounts receivable without recourse in the six months ended December 31, 2025, compared to $169.0 million in the same period of 2024[137] Capital Expenditures - Capital expenditure commitments as of December 31, 2025, were approximately $16.0 million, primarily for new program wins and improvements to the medical facility[140] - The company expects proceeds from the sale of the Tampa facility to exceed the total expected restructuring costs and the carrying value of the assets held for sale[141] Currency Impact - Foreign currency fluctuations positively impacted net sales by 2% in the current quarter compared to the same period last year[115] Working Capital - Working capital as of December 31, 2025, was $378.5 million, slightly down from $381.0 million at June 30, 2025, with a current ratio of 2.2[123] Cash Conversion - Cash Conversion Days improved to 91 days in the quarter ended December 31, 2025, down from 107 days in the same quarter of the previous year[125] Stock Repurchase - The company has repurchased $109.5 million of common stock under its Repurchase Plan through December 31, 2025, with a total authorization of up to $120 million[144]

Financial Performance - Ventas reported a 15% year-over-year growth in Same-Store Cash Net Operating Income (NOI) for its senior housing operating portfolio in 2025[3]. - Attributable Net Income per share for Q4 2025 was $0.15, a 15% increase from $0.13 in Q4 2024[5]. - For the full year 2025, Attributable Net Income per share reached $0.54, up 184% from $0.19 in 2024[5]. - Normalized Funds From Operations (FFO) per share for Q4 2025 was $0.89, reflecting a 10% increase compared to the prior year[5]. - Total revenues for Q4 2025 reached $1,566,017, an increase of 21.7% compared to $1,287,057 in Q4 2024[29]. - Net income attributable to common stockholders for Q4 2025 was $70,202, representing a 23.5% increase from $56,835 in Q4 2024[30]. - Earnings per common share (diluted) for Q4 2025 was $0.15, up 7.1% from $0.14 in Q4 2024[30]. - Funds From Operations (FFO) attributable to common stockholders for Q4 2025 was $436,071, a 20% increase from $363,867 in Q4 2024[31]. - Normalized FFO attributable to common stockholders for Q4 2025 was $427,136, reflecting a 23% increase compared to $347,234 in Q4 2024[31]. - The company reported a net income of $261,518 for the full year 2025, compared to $88,351 for the full year 2024[30]. Investments and Growth Strategy - The company completed $2.5 billion in accretive investments in senior housing during 2025, contributing to its growth strategy[4]. - Ventas expects 2026 Attributable Net Income per share to be in the range of $0.52 to $0.62, with a midpoint of $0.57, indicating a 6% increase from 2025[12]. - The company anticipates 2026 Normalized FFO per share to be between $3.78 and $3.88, with a midpoint of $3.83, representing an 8% growth compared to 2025[13]. - The company anticipates closing approximately $2.5 billion in investments focused on senior housing and expects disposition proceeds of around $300 million[39]. Financial Position and Liquidity - As of December 31, 2025, Ventas had $5.3 billion in liquidity, enhancing its financial flexibility for future growth[10]. - Total assets increased to $27,591,945 thousand as of December 31, 2025, compared to $26,186,906 thousand in 2024, reflecting a growth of approximately 5.4%[27]. - Net real estate property rose to $24,126,933 thousand in 2025 from $22,600,545 thousand in 2024, marking an increase of about 6.7%[27]. - Senior notes payable and other debt decreased to $13,011,016 thousand in 2025 from $13,522,551 thousand in 2024, a reduction of approximately 3.8%[27]. - Total liabilities decreased to $14,630,983 thousand in 2025 from $15,047,081 thousand in 2024, indicating a decline of about 2.8%[27]. - Common stock outstanding increased to 474,926 shares in 2025 from 437,085 shares in 2024, representing an increase of approximately 8.7%[27]. - Total equity increased to $12,585,808 thousand in 2025 from $10,829,596 thousand in 2024, a growth of about 16.2%[27]. - The company reported cash and cash equivalents of $741,067 thousand in 2025, down from $897,850 thousand in 2024, a decrease of approximately 17.5%[27]. Operational Metrics - Same-Store Cash NOI for the fourth quarter of 2025 is reported at $486.3 million, representing a 7.8% increase compared to the previous year[40]. - Same-Store Cash NOI for 2025 was $1,845,375,000, reflecting a 7.6% increase compared to the previous year[42]. - Cash NOI for the fourth quarter of 2025 is reported at $591.988 million, with significant contributions from various segments[40]. - Cash NOI for the year ended December 31, 2025, totaled $2,221,622,000, with a breakdown of $1,190,120,000 from SHOP, $570,154,000 from OM&R, and $461,348,000 from NNN[42]. - The company reported a percentage increase in Same-Store Cash NOI of 15.4% for SHOP, 2.5% for OM&R, and a slight decrease of 0.2% for NNN[42]. Expenses and Costs - Total expenses for Q4 2025 were $1,489,731, an increase from $1,287,565 in Q4 2024[29]. - Depreciation and amortization on real estate assets for Q4 2025 was $351,039, compared to $308,054 in Q4 2024[31]. - Interest expenses for Q4 2025 were $154,468, slightly up from $153,206 in Q4 2024[29]. - Interest expense for the year was $612,246,000, up from $602,835,000 in 2024[46]. - The company experienced a loss on extinguishment of debt, netting $172,000 for 2025[46]. Future Projections - Net income attributable to common stockholders for FY 2026 is projected to be between $260 million and $310 million, translating to a per share amount of $0.52 to $0.62[37]. - Nareit FFO attributable to common stockholders is expected to range from $1.826 billion to $1.876 billion, with a per share amount of $3.63 to $3.73[37]. - Normalized FFO attributable to common stockholders is forecasted to be between $1.902 billion and $1.952 billion, equating to a per share amount of $3.78 to $3.88, reflecting a year-over-year growth of 6% to 9%[37]. - Interest expense is projected to be approximately $636 million at the midpoint, with interest and other income estimated at $8 million[39]. - Depreciation and amortization adjustments for FY 2026 are expected to be $1.566 billion[37]. - The weighted average diluted shares for FY 2026 is projected to be 503 million[39]. Operational Risks - The company has significant exposure to various operational risks and regulatory challenges that could impact future performance[24]. - The company emphasizes the importance of NOI and Cash NOI as measures to assess unlevered property-level operating results[49]. - Ventas reported its Q4 2025 results, focusing on property-level expenditures aimed at maximizing value and increasing NOI[55]. - The company utilizes constant currency methodology to present portfolio performance, adjusting prior period results based on current average monthly exchange rates[56].