Financial Performance - Net income available to common shareholders for Q4 2025 was $11.1 million, a 49.9% increase from $7.4 million in Q4 2024[2] - Revenue for Q4 2025 reached $38.2 million, up 2.3% from Q3 2025[1] - Net interest income for the fiscal year 2025 was $76.5 million, a 30.2% increase from $58.7 million in 2024[7] - Net income attributable to the Company for the twelve months ended December 31, 2025, was $37.8 million, up 37.4% from $27.5 million in 2024[17] - Earnings per common share for the twelve months ended December 31, 2025, was $3.20, up from $2.30 in 2024, reflecting a growth of 39.1%[17] Asset and Loan Growth - Total assets increased to $2.25 billion, a 5.0% rise from $2.14 billion at the end of 2024[10] - Total loans grew to $2.04 billion, an 8.9% increase from $1.87 billion at the end of 2024[10] - Net loans rose to $2,000.6 million at December 31, 2025, compared to $1,835.6 million at December 31, 2024, reflecting a growth of 9.0%[16] - Total deposits rose to $1.80 billion, a 7.8% increase from $1.63 billion at the end of 2024[10] Credit Quality - Provision for credit losses increased to $2.5 million for the fiscal year 2025, up from $0.7 million in 2024[7] - Nonperforming loans decreased to $10.8 million, representing 0.53% of total loans, down from 0.62% in 2024[10] - Non-accrual loans decreased to $10.8 million as of December 31, 2025, from $11.8 million in 2024, showing an improvement in asset quality[19] - The allowance for credit losses increased to $34.6 million as of December 31, 2025, from $32.6 million in 2024, with the allowance to total loans ratio at 1.70%[19] Operational Efficiency - The efficiency ratio decreased to 33.39% for the three months ended December 31, 2025, down from 40.88% in 2024, indicating improved operational efficiency[18] - Return on average assets improved to 2.04% for the three months ended December 31, 2025, compared to 1.41% in 2024[18] Tax and Equity - The effective tax rate for the year ended December 31, 2025, was 23.5%, compared to 24.2% for the same period in 2024[9] - Total equity increased to $324.5 million at December 31, 2025, up from $300.1 million at December 31, 2024, representing an increase of $24.4 million or 8.1%[14] - Total borrowings decreased by $44.9 million to $143.4 million as of December 31, 2025, from $188.3 million at December 31, 2024[14] Non-Interest Income - Non-interest income decreased to $3.4 million for the fiscal year 2025, a 20.8% decline from $4.3 million in 2024[7]

Financial Performance - Fourth quarter net income for 2025 was $75.3 million, or $1.52 per diluted share, compared to $34.3 million, or $0.69 per diluted share in the third quarter[3]. - Operating net income for the fourth quarter was $84.4 million, or $1.70 per diluted share, up from $77.4 million, or $1.55 per diluted share in the prior quarter[3]. - Net income for Q4 2025 was $75,335, reflecting a 119.88% increase from Q4 2024[29]. - Basic earnings per share for Q4 2025 were $1.52, up 120.29% from $0.69 in Q4 2024[30]. - Operating net income (Non-GAAP) for Q4 2025 was $84,357, a 64.12% increase from Q4 2024[30]. - Total revenue for the year ended December 31, 2025, was $857,520,000, representing a 24.4% increase from $689,743,000 in 2024[50]. Income and Expenses - Net interest income increased by $9.2 million, or 4.5%, to $212.5 million in the fourth quarter compared to $203.3 million in the prior quarter[9]. - Noninterest income for the fourth quarter was $41.4 million, an increase of $1.0 million, or 2.6%, from the prior quarter[9]. - Noninterest expense decreased by $6.5 million, or 4.0%, to $154.4 million in the fourth quarter, driven by a reduction in merger and acquisition expenses[10]. - Total noninterest expenses decreased by 4.02% to $154,370 in Q4 2025 compared to Q3 2025[29]. - The company incurred merger and acquisition expenses of $12,348,000 in Q4 2025, down from $23,893,000 in Q3 2025[50]. Asset Quality - Nonperforming loans decreased to $83.6 million, representing 0.45% of total loans, down from 0.47% in the prior quarter[13]. - The fourth quarter provision for credit losses decreased to $4.8 million, compared to $38.5 million in the prior quarter[13]. - Nonperforming loans totaled $83,557 thousand, down from $86,597 thousand, indicating improved asset quality[35]. - Total nonperforming assets decreased to $85,657 thousand from $88,697 thousand, showing a positive trend in asset management[35]. Capital and Ratios - Return on average assets and return on average common equity for the fourth quarter were 1.20% and 8.38%, respectively, compared to 0.55% and 3.82% in the prior quarter[5]. - The common equity tier 1 capital ratio stood at 12.85%, slightly up from 12.84% in the previous quarter[37]. - The efficiency ratio (GAAP) increased to 61.79%, compared to 58.92% in the prior quarter, indicating higher operational costs[34]. - The efficiency ratio (GAAP) improved to 60.79% in Q4 2025 from 65.99% in Q3 2025, indicating better cost management[51]. Loans and Deposits - Total loans increased by $51.3 million, or 0.3%, to $18.5 billion at December 31, 2025, from the third quarter[7]. - Total deposits decreased by 0.83% from September 30, 2025, to $20,126,790,000, but increased by 31.50% compared to December 31, 2024[27]. - Total loans reached $18,503,777 thousand in 2025, up from $14,508,378 thousand in 2024, representing a year-over-year growth of 27.4%[47]. - Total deposits increased to $20,126,790 thousand in 2025, compared to $15,305,978 thousand in 2024, marking a growth of 31.0%[47]. Interest Income and Margin - Total interest income for Q4 2025 reached $297,535, a 37.54% increase compared to Q4 2024[29]. - Net interest income after provision for credit losses increased to $207,736, a 51.45% rise compared to Q4 2024[29]. - The net interest margin (FTE) improved to 3.77% in Q4 2025, up from 3.33% in Q4 2024[31]. - The interest rate spread improved to 3.07% for the quarter ended December 31, 2025, compared to 2.87% in the previous quarter[40]. - The average yield on interest-earning assets was 5.27% for the quarter ended December 31, 2025, compared to 5.24% in the previous quarter[40]. Growth and Trends - The Company reported a 3.78% increase in retained earnings from September 30, 2025, to $1,269,113,000, and an 8.22% increase year-over-year[28]. - The tangible common equity ratio is calculated by dividing tangible common equity by tangible assets, providing insight into capital adequacy compared to industry peers[23]. - The total assets of the company reached $24,912,896 thousand in 2025, up from $19,373,565 thousand in 2024, reflecting a growth of 28.7%[48]. - Tangible common equity increased to $2,341,542 thousand in 2025 from $1,995,764 thousand in 2024, a growth of 17.3%[48].

Financial Performance - Associated Banc-Corp reported record annual net income available to common equity of $463 million, or $2.77 per common share for 2025, compared to $112 million, or $0.72 per common share for 2024[1]. - The company achieved record net interest income of $1.2 billion, reflecting a 15% increase from 2024, with a net interest margin of 3.03%[12]. - Noninterest income for 2025 was $286 million, significantly impacted by nonrecurring items from a balance sheet repositioning[15]. - Full year 2025 noninterest expense was $856 million, a 5% increase from 2024, with personnel expenses rising by $34 million[20]. - Net income for Q4 2025 was $137,129,000, a turnaround from a loss of $161,615,000 in Q4 2024, with year-to-date net income of $474,777,000[35]. - Earnings per common share for Q4 2025 was $0.81, compared to a loss of $1.04 in Q4 2024, with year-to-date earnings of $2.79[35]. - The corporation's return on average tangible common equity (ROATCE) improved to 12.31% from previous periods, indicating enhanced profitability[56]. Loan and Deposit Growth - Total period end loans reached $31.2 billion, a 5% increase from 2024, while total period end deposits were $35.6 billion, up 3% from the previous year[4]. - The bank's loans increased by $211.7 million to $31.2 billion compared to the previous quarter, reflecting a year-over-year growth of $1.4 billion[33]. - Total deposits rose by $670.8 million to $35.6 billion, marking a significant increase of $904.2 million year-over-year[33]. - Total loans increased to $30.59 billion in 2025, up from $29.70 billion in 2024, reflecting a growth of 3.0%[40]. - Total deposits rose by 2% quarter-over-quarter to $35,552,608, compared to $34,881,853[42]. Credit Quality and Provision for Losses - The provision for credit losses for 2025 was $54 million, down from $85 million in the prior year, indicating improved credit quality[25]. - Provision for credit losses decreased by 59% to $6,998,000 in Q4 2025, resulting in a year-to-date reduction of 36% to $53,996,000[35]. - The provision for loan losses decreased significantly by 87% to $2,000 from $15,000 in the previous quarter[45]. - Nonaccrual loans decreased by 5% to $100,428 from 106,179 in the previous quarter[46]. - The allowance for credit losses on loans to total loans ratio remained stable at 1.35%[46]. Capital and Regulatory Ratios - The company's CET1 capital ratio stood at 10.49% as of December 31, 2025, exceeding Basel III regulatory benchmarks[26]. - Common equity Tier 1 capital ratio improved to 10.49% in Q4 2025, compared to 10.33% in Q4 2024, showing a 1.55% increase[48]. - Stockholders' equity increased by $107.0 million to $5.0 billion, reflecting strong capital management strategies[33]. - Total risk-weighted assets reached $35.13 billion as of December 31, 2025, up from $34.69 billion a year earlier, representing a 1.27% increase[48]. Future Expectations - For 2026, the company expects total period end loan growth of 5% to 6% and total deposit growth of 5% to 6%, excluding the impact of the acquisition of American National Corporation[6][11]. - The company anticipates total net interest income growth of 5.5% to 6.5% in 2026, excluding the acquisition impact[14]. - The expected annual effective tax rate for 2026 is projected to be between 19% and 21%[24]. Strategic Transactions - The company is actively pursuing a proposed transaction with American National Bank, which may impact future operations and financial performance[30]. - The corporation announced a definitive agreement to acquire American National, incurring nonrecurring costs associated with the acquisition[55]. Operational Efficiency - Management emphasizes the importance of non-GAAP financial measures to provide a clearer understanding of ongoing operations and earnings adequacy[31]. - The efficiency ratio improved to 56.29% in Q4 2025, down from 67.64% in Q4 2024, indicating a 16.67% improvement[48].

DIVIDEND DECLARED The Board of Directors of the Company voted to declare a cash dividend of $0.32 per share to shareholders of record at the close of business on February 20, 2026, payable on March 20, 2026. This dividend equates to a 4.12% annualized yield based on the $31.05 closing share price of the Company's common stock on December 31, 2025, the last trading day of the fourth quarter 2025. Exhibit 99.1 Graphic Bar Harbor Bankshares Reports Fourth Quarter 2025 Results; Declares Dividend BAR HARBOR, MAI ...

NB Bancorp, Inc. Reports Fourth Quarter 2025 Financial Results, Declares Quarterly Cash Dividend, Announces Share Repurchase Plan Graphic Exhibit 99.1 Investor Contact JP Lapointe, SEVP, CFO IR@NeedhamBank.com 781-474-5408 Needham, MA, January 22, 2026 – NB Bancorp, Inc. (the "Company") (Nasdaq Capital Market: NBBK), the holding company of Needham Bank (the "Bank"), today announced its fourth quarter 2025 financial results. The Company reported net income of $7.7 million, or $0.19 per diluted common share, ...

Financial Performance - For the year ended December 31, 2025, the company reported net income of $12.3 million, a decrease of 16.88% compared to $14.8 million for the year ended December 31, 2024[13]. - Net income for the fourth quarter of 2025 increased 36.83% to $3.4 million, compared to $2.5 million for the fourth quarter of 2024[4]. - Net income for the twelve months ended December 31, 2025, was $12,288 thousand, down from $14,783 thousand in 2024, a decrease of 16.9%[36]. - Basic net income per common share decreased to $0.70 in 2025 from $0.85 in 2024, a decline of 17.6%[36]. Interest Income and Margin - The net interest margin increased to 4.36% for the quarter ended December 31, 2025, compared to 4.22% for the same quarter in 2024[4]. - Net interest income for the twelve months ended December 31, 2025, was $48,771 thousand, compared to $46,850 thousand for the same period in 2024, reflecting a growth of 4.1%[36]. - Total interest income for Q4 2025 was $14,899,000, a decrease from $15,626,000 in Q3 2025[42]. - Net interest income after provision for credit losses for Q4 2025 was $11,727,000, compared to $11,471,000 in Q3 2025[42]. Noninterest Income and Expense - Noninterest income for the quarter ended December 31, 2025, totaled $1.3 million, an increase of 1020.83% from $120,000 in the same quarter of 2024[8]. - Noninterest income for the year ended December 31, 2025, totaled $5.1 million, an increase of $373,000 from $4.7 million in 2024, primarily due to a gain of $391,000 on the fair value of TruPS[16]. - Noninterest expense increased 18.55% to $8.8 million for the quarter ended December 31, 2025, compared to $7.4 million for the same quarter in 2024[9]. - Noninterest expense for the year ended December 31, 2025, totaled $31.6 million, reflecting a $3.3 million increase over $28.3 million in 2024, driven by increases in salaries, employee benefits, and merger expenses[17]. - Total noninterest expense increased to $31,588 thousand in 2025 from $28,280 thousand in 2024, representing an increase of 8.1%[36]. Asset and Deposit Growth - Total assets increased by $36.6 million, or 3.02%, from December 31, 2024, to December 31, 2025, with total cash and cash equivalents increasing by $64.7 million[20]. - Total deposits increased 2.95% to $1.09 billion compared to $1.06 billion at December 31, 2024[4]. - Total deposits increased by $31.2 million, or 2.95%, to $1.09 billion during the year ended December 31, 2025, driven by a $61.7 million increase in noninterest-bearing deposits[21]. - Total deposits rose to $1,088,780 thousand in 2025, up from $1,057,622 thousand in 2024, marking an increase of 2.9%[35]. - Total deposits reached $1,088,780,000 as of December 31, 2025, up from $1,075,900,000 at the end of Q3 2025[41]. Credit Losses and Nonperforming Assets - The company recorded a provision for credit losses of $468,000 for the quarter ended December 31, 2025, down from $1.2 million for the same quarter in 2024[4]. - The Company recorded a provision for credit losses of $5.6 million for the year ended December 31, 2025, compared to $3.0 million in 2024, primarily due to deterioration in the student loan portfolio[24]. - Provision for credit losses increased to $5,574 thousand for the twelve months ended December 31, 2025, compared to $2,963 thousand in 2024, an increase of 88.2%[36]. - Non-performing assets decreased to $13.9 million, or 1.12% of total assets, down from 1.42% in 2024, attributed to a decrease in nonaccrual loans[26]. - Total nonperforming assets decreased to $13,907,000 as of December 31, 2025, from $17,201,000 a year prior[43]. - Nonperforming loans to total gross loans ratio improved to 0.63% as of December 31, 2025, down from 1.36% a year earlier[43]. - The allowance for credit losses to nonperforming loans ratio increased to 258.68% as of December 31, 2025, from 127.16% a year earlier[43]. Efficiency and Ratios - The efficiency ratio for the quarter ended December 31, 2025, increased to 65.09%, compared to 60.79% for the same quarter in 2024[10]. - The efficiency ratio for the year ended December 31, 2025, increased to 58.76%, compared to 54.82% in 2024, indicating that noninterest expenses grew faster than noninterest income and net interest income[18]. - The efficiency ratio for Q4 2025 was 65.09%, compared to 60.79% in Q4 2024[44]. - Return on average assets for Q4 2025 was 1.12%, an increase from 0.81% in Q4 2024[44]. Shareholder Information - Shareholders' equity at December 31, 2025, totaled $139.7 million, an increase of $9.3 million from $130.4 million in 2024, attributed to $12.3 million in net income[22]. - The Company declared a cash dividend of $0.12 per share on December 16, 2025, to be paid on January 13, 2026[23]. - The company reported a total shareholders' equity of $139,683 thousand in 2025, up from $130,362 thousand in 2024, an increase of 7.5%[35]. - Book value per share increased to $7.94 as of December 31, 2025, compared to $7.51 a year earlier[44]. Merger Information - The company’s pending merger with Community West Bancshares is on track to close in 2026, which is expected to enhance value for customers, employees, and shareholders[3].

Financial Performance - Fourth quarter net income was $34.5 million, with diluted earnings per share of $0.76, while full year net income reached $130.1 million, up 7.7% from the previous year[1]. - Net interest income for the fourth quarter was $101.3 million, an increase of $1.4 million, or 1.4%, from the third quarter, and full year net interest income was $385.3 million, up $37.3 million, or 10.7%[4][7]. - Non-interest income for the fourth quarter was $15.7 million, a slight decrease of 0.6% from the previous quarter, while full year non-interest income was $60.9 million, an increase of 3.5% year-over-year[12][13]. - Net income for the three months ended December 31, 2025, was $34,521,000, down from $37,200,000 in the previous quarter, representing a decrease of 5%[43]. - Basic earnings per share for the three months ended December 31, 2025, was $0.77, compared to $0.82 in the previous quarter, reflecting a decline of 6%[43]. - Adjusted diluted earnings per common share for the year ended December 31, 2025, increased to $3.00 from $2.76 in 2024[45]. Interest Income and Margin - The tax-equivalent net interest margin for the fourth quarter was 4.36%, an increase of eight basis points from the previous quarter, and for the full year, it was 4.23%, up 25 basis points year-over-year[5][8]. - The net interest margin for Q4 2025 was 4.35%, up from 4.27% in Q3 2025 and 4.01% in Q4 2024[45]. - Total interest and dividend income for the year ended December 31, 2025, was $572,220,000, an increase from $565,929,000 in the previous year, reflecting a growth of 1%[43]. - Net interest income after provision for credit losses was $91,553,000 for the three months ended December 31, 2025, compared to $94,592,000 in the previous quarter, reflecting a decrease of 3%[43]. - The average yield on interest-earning assets was 6.21% for the quarter, compared to 6.33% in the same quarter last year, indicating a decrease of 0.12 percentage points[48]. Credit Losses and Provisions - Provision for credit losses for the fourth quarter was $9.7 million, an increase of $4.4 million from the third quarter, and for the full year, it was $36.1 million, up $9.1 million compared to the prior year[10][11]. - Provision for credit losses increased to $9,702,000 for the three months ended December 31, 2025, from $5,298,000 in the previous quarter, indicating a rise of 83%[43]. - The allowance for credit losses was $108.8 million as of December 31, 2025, an increase of 2.9% from the previous quarter and an increase of 11.1% from the previous year[24]. Assets and Equity - Total assets as of December 31, 2025, were $9.7 billion, a decrease of 1.6% from the previous quarter, but an increase of 1.6% compared to the previous year[22]. - Total stockholders' equity rose to $1.3 billion at December 31, 2025, an increase of $30.2 million, or 2.4%, from September 30, 2025, and up $176.4 million, or 16.2%, from December 31, 2024[31]. - Total stockholders' equity increased to $1,290.78 million, up from $1,094.02 million year-over-year, reflecting a growth of 17.96%[48]. Non-Performing Assets - Non-performing assets increased to $74.7 million, or 0.77% of total assets, as of December 31, 2025, up from $67.4 million, or 0.69% at September 30, 2025[27]. - Total non-performing loans and leases increased to $71,290 thousand, a rise of 12.9% from $63,158 thousand in the previous quarter[54]. - The allowance for credit losses as a percentage of non-performing loans and leases was 152.66%, down from 167.38% in the previous quarter[54]. Dividends and Share Repurchase - The Board declared a cash dividend of $0.12 per share, representing a 20.0% increase from the previous dividend of $0.10 per share[3]. - The company purchased 345,706 shares of common stock at an average price of $28.21 during Q4 2025 and 922,729 shares at an average price of $25.72 for the year[32]. Operational Efficiency - The efficiency ratio improved to 50.32% for the fourth quarter, compared to 51.00% for the third quarter, and for the full year, it was 51.83%, an improvement of 62 basis points year-over-year[17][19]. - Adjusted efficiency ratio for Q4 2025 improved to 50.15%, down from 50.27% in Q3 2025 and 53.37% in Q4 2024, indicating better cost management[58]. Future Outlook - The company plans to host a conference call on January 23, 2026, to discuss quarterly financial results[33].

Financial Performance - Net interest income for Q4 2025 was $12,466 million, a 54% increase compared to Q4 2024's $8,098 million[5] - Total net revenue reached $15,583 million in Q4 2025, up 37% from $10,190 million in Q4 2024[5] - Net income for Q4 2025 was $2,134 million, down 33% from $4,750 million in Q4 2024[5] - Non-interest income for Q4 2025 was $3,117 million, reflecting a 49% increase from Q4 2024, driven by higher discount and interchange fees[8] - Total net revenue for the year ended December 31, 2025, reached $53,434 million, compared to $39,112 million for the previous year, representing a year-over-year growth of approximately 36.7%[19] - Total net revenue for Q4 2025 was $11,693 million, reflecting a 1% increase from Q3 2025 and a 59% increase compared to Q4 2024[20] Credit Losses and Provisions - Provision for credit losses increased to $4,142 million in Q4 2025, a 53% rise from $2,642 million in Q4 2024[5] - The provision for credit losses in Q4 2025 was $4,142 million, a 57% increase compared to Q4 2024, indicating a significant rise in expected credit losses[8] - The allowance for credit losses increased to $23,409 million in Q4 2025, a 44% increase from Q4 2024, highlighting a cautious approach to credit risk management[7] - The net charge-off rate for Q4 2025 was 3.45%, up 29 basis points from Q3 2025, indicating a rise in loan defaults[7] - The net charge-offs for the year ended December 31, 2025, totaled $13,102 million, compared to $3,833 million for the three months ended December 31, 2025, indicating a significant increase in charge-offs[18] Expenses and Efficiency - Non-interest expense totaled $9,342 million in Q4 2025, reflecting a 13% increase from $6,089 million in Q4 2024[5] - Total non-interest expense for 2025 was $30,498 million, a 42% increase compared to 2024, driven by higher salaries and marketing costs[8] - The efficiency ratio for Q4 2025 was 59.95%, an increase of 615 basis points from Q4 2024, suggesting a decline in operational efficiency[7] - Adjusted operating expense (non-GAAP) for Q4 2025 was $6,459 million, an increase from $4,499 million in Q4 2024, reflecting a year-over-year growth of 43.6%[29] Assets and Capital - Total assets as of Q4 2025 were $669,009 million, a 36% increase from $490,144 million in Q4 2024[6] - Common equity at the end of Q4 2025 was $108,209 million, a 93% increase from $55,938 million in Q4 2024[6] - Capital ratios showed a common equity Tier 1 capital of 14.3% in Q4 2025, an increase of 80 basis points from Q4 2024, reflecting improved capital strength[7] - The company reported total capital of $88.001 billion as of December 31, 2025, up from $87.853 billion in September 2025[26] Loans and Deposits - Loans held for investment at the end of Q4 2025 were $453,622 million, a 38% increase from $327,775 million in Q4 2024[6] - Total deposits reached $475,771 million in Q4 2025, up 31% from Q4 2024[10] - Interest-bearing deposits increased by 33% year-over-year, reaching $448,386 million in Q4 2025[10] - Average deposits increased by 33% year-over-year to $418,673 million, with period-end deposits also rising to $423,932 million[22] Shareholder Returns - The company declared a dividend of $0.80 per common share in Q4 2025, a 33% increase from $0.60 in Q4 2024[5] - The adjusted diluted earnings per share (EPS) for Q4 2025 was $3.86, compared to $5.95 in Q3 2025 and $4.06 in Q1 2025[28] Charge-Off Rates and Delinquency - Domestic credit card net charge-off rate decreased to 4.93% in Q4 2025 from 5.25% in Q4 2024, a reduction of 30 basis points[16] - Total credit card net charge-off rate improved to 4.91% in Q4 2025 compared to 6.02% in Q4 2024, reflecting a decrease of 111 basis points[16] - Total consumer banking net charge-off rate was 1.88% in Q4 2025, down from 2.38% in Q4 2024, a decline of 50 basis points[16] - 30+ day performing delinquency rate for domestic credit cards was 3.99% in Q4 2025, up from 3.60% in Q4 2024, an increase of 10 basis points[16] Miscellaneous - The company expects recoveries of $3.3 billion included as a benefit to the allowance for credit losses from Discover loans acquired[13] - Discover integration expenses amounted to $352 million in Q4 2025, with cumulative expenses of $1.109 billion for the year[28]

Financial Performance - Revenue for Q4 2025 increased to $3.4 billion, a 15% sequential increase, and full year revenue reached $12.8 billion, an 8% increase year-over-year [5][8]. - Net income for Q4 2025 was $226 million, or $0.85 per share, compared to $1.2 billion, or $4.42 per share for the full year 2025, up from $60 million in FY24 [3][8]. - Adjusted net income for Q4 2025 was $335 million, or $1.26 per share, with full year adjusted net income at $1.0 billion, or $3.77 per share [3][8]. - Adjusted EBITDA excluding special items for Q4 2025 was $546 million, a sequential increase of $276 million, while full year adjusted EBITDA reached $2.0 billion, a 25% increase year-over-year [3][8]. - For the quarter ended December 31, 2025, Alcoa reported sales of $3,449 million, an increase from $2,995 million in the previous quarter [25]. - The net income attributable to Alcoa Corporation for the quarter was $226 million, compared to $232 million in the prior quarter [25]. - For the year ended December 31, 2025, total sales reached $12,831 million, up from $11,895 million in 2024, representing a growth of approximately 7.9% [26]. - Alcoa Corporation reported a net income of $1,132 million for the year ended December 31, 2025, a significant increase from $24 million in 2024 [28]. - Cash provided from operations increased to $1,185 million in 2025, compared to $622 million in 2024, reflecting improved operational efficiency [28]. - Total segment adjusted EBITDA for 2025 was $1,959 million, up from $910 million in 2024, indicating strong performance across segments [29]. - For the year ended December 31, 2025, Alcoa reported a net income of $1,170 million, a significant increase from $60 million in 2024 [34]. Production and Operations - Alumina production for Q4 2025 increased 1% sequentially to 2.48 million metric tons, while aluminum production increased 4% to 604,000 metric tons [7]. - The company expects 2026 alumina production to range between 9.7 and 9.9 million metric tons, and aluminum production to range between 2.4 and 2.6 million metric tons [12][13]. - Aluminum production for 2025 reached 2,319 kmt, while total aluminum shipments were 2,522 kmt, showing a robust output [29]. - Third-party alumina shipments totaled 8,829 kmt in 2025, a decrease from 9,005 kmt in 2024, suggesting a need for market adjustment [29]. Financial Position - Total assets increased to $16,212 million as of December 31, 2025, compared to $14,064 million a year earlier, reflecting a growth of approximately 15.3% [27]. - Current liabilities rose to $3,765 million in 2025 from $3,395 million in 2024, indicating an increase of about 10.9% [27]. - Alcoa's total equity increased to $6,133 million in 2025 from $5,157 million in 2024, representing a growth of about 18.9% [27]. - The total debt as of December 31, 2025, was $2,448 million, down from $2,595 million as of December 31, 2024, while net debt decreased to $851 million from $1,457 million [43]. - Alcoa's adjusted net debt as of December 31, 2025, was $1,462 million, down from $2,057 million as of December 31, 2024 [43]. Cash Flow and Investments - Cash from operations for Q4 2025 was $537 million, with a full year total of $1.2 billion, and free cash flow for the year was $567 million [5][8]. - Capital expenditures for 2025 were $618 million, slightly higher than $580 million in 2024, indicating ongoing investment in growth [28]. - The company experienced a net change in cash and cash equivalents of $458 million in 2025, up from $187 million in 2024, enhancing liquidity [28]. Market and Pricing - The average realized third-party price per metric ton of aluminum increased to $3,376 in 2025, compared to $3,006 in 2024, reflecting favorable market conditions [29]. - The average realized third-party price per metric ton of alumina was $415 in 2025, down from $636 in 2024, indicating pricing pressures in the alumina market [29]. Restructuring and Charges - The company incurred a goodwill impairment of $144 million in 2025, while there was no such impairment in 2024 [26]. - Restructuring and other charges increased to $918 million in 2025 from $341 million in 2024, reflecting strategic changes within the company [28]. - The company incurred restructuring and other charges of $14 million in the quarter ended December 31, 2025, compared to $885 million in the previous quarter [40]. Working Capital Management - DWC working capital for Q4 2025 is $1,303 million, an increase from $1,289 million in Q4 2024 [45]. - Days working capital improved to 35 days in Q4 2025, down from 50 days in Q3 2025 [45]. - Receivables from customers increased to $1,064 million in Q4 2025, up from $1,096 million in Q4 2024 [45]. - Inventories decreased slightly to $2,177 million in Q4 2025 from $1,998 million in Q4 2024 [45]. - Accounts payable, trade rose to $1,938 million in Q4 2025, compared to $1,805 million in Q4 2024 [45]. - Management emphasizes the importance of DWC working capital as a measure of liquidity management efficiency [46].

Financial Performance - Q4 2025 revenue was $13.7 billion, down 4% year-over-year, while full-year revenue was $52.9 billion, flat year-over-year[7]. - Q4 2025 gross margin was 36.1%, down 3.1 percentage points from Q4 2024, and non-GAAP gross margin was 37.9%, down 4.2 percentage points[5]. - Q4 2025 net loss attributable to Intel was $(0.6) billion, compared to a loss of $(0.1) billion in Q4 2024, while non-GAAP net income was $0.8 billion, up 35% year-over-year[5]. - Intel forecasts Q1 2026 revenue between $11.7 billion and $12.7 billion, with expected EPS of $(0.21) and non-GAAP EPS of $0.00[7][13]. - Operating income for the three months ended December 27, 2025, was $580 million, compared to an operating loss of $412 million for the same period in 2024[23]. - For the twelve months ended December 27, 2025, total revenue was $52,853 million, a slight decrease from $53,101 million in 2024, reflecting a decline of 0.5%[29]. - The operating loss for the twelve months ended December 27, 2025, was $2,214 million, an improvement from an operating loss of $11,678 million in 2024[29]. - GAAP net income attributable to Intel for Q4 2025 was a loss of $591 million, while non-GAAP net income was $767 million, indicating a positive trend in core operations[40]. - GAAP earnings per share attributable to Intel for Q4 2025 was $(0.12), compared to $(0.03) in Q4 2024[41]. - Non-GAAP earnings per share attributable to Intel for Q4 2025 was $0.15, up from $0.13 in Q4 2024[41]. Cash Flow and Assets - The company generated $4.3 billion in cash from operations in Q4 2025 and $9.7 billion for the full year[6][9]. - Cash and cash equivalents rose to $14,265 million as of December 27, 2025, compared to $8,249 million a year earlier[25]. - The company reported a net cash provided by operating activities of $9,697 million for the twelve months ended December 27, 2025, compared to $8,288 million in 2024[27]. - Intel's net cash used for investing activities in Q4 2025 was $(6,566) million, compared to $(3,764) million in Q4 2024[41]. - Intel's net cash provided by financing activities for Q4 2025 was $5,849 million, significantly higher than $63 million in Q4 2024[41]. Research and Development - Research and development expenses for the twelve months ended December 27, 2025, were $13,774 million, down 16.9% from $16,546 million in 2024[23]. Strategic Initiatives - The Intel® Core™ Ultra Series 3 processor family was introduced, marking the company's first AI PC platform built on the Intel 18A process technology[15]. - Intel and Cisco announced a collaboration for an integrated platform for distributed AI workloads, enhancing real-time AI inferencing capabilities[15]. - Intel's 18A process technology ramped to high-volume manufacturing, reinforcing its position in advanced semiconductor manufacturing[15]. - The company completed a $5.0 billion common stock sale to NVIDIA, strengthening its balance sheet and strategic flexibility[15]. Liabilities and Assets - Total current assets increased to $63,688 million as of December 27, 2025, from $47,324 million as of December 28, 2024[25]. - Total liabilities decreased to $85,665 million as of December 27, 2025, from $91,453 million as of December 28, 2024[25]. - Intel's total assets increased to $211,429 million as of December 27, 2025, from $196,485 million as of December 28, 2024[25]. Segment Performance - Intel's revenue from CCG (Client Computing Group) for the three months ended December 27, 2025, was $8,193 million, down from $8,769 million in the same period of 2024, a decrease of 6.5%[29]. - The DCAI (Data Center and AI) segment generated revenue of $4,737 million for the three months ended December 27, 2025, compared to $4,351 million in the same period of 2024, an increase of 8.8%[29]. - The Foundry segment reported revenue of $4,507 million for the three months ended December 27, 2025, compared to $4,340 million in the same period of 2024, reflecting a growth of 3.8%[29]. - The "all other" category, which includes operations from non-reportable segments, contributed $574 million in revenue for the three months ended December 27, 2025[29]. Tax and Expenses - The projected non-GAAP tax rate for 2026 is estimated to be 11%, down from 12% for 2025 and 13% for 2024, indicating a strategic adjustment in tax planning[32]. - GAAP operating expenses for full-year 2025 were $20.6 billion, projected to decrease to approximately $18.2 billion in full-year 2026[46]. - Non-GAAP operating expenses for full-year 2025 were $16.5 billion, expected to decrease to approximately $16.0 billion in full-year 2026[46]. Other Financial Metrics - Adjusted free cash flow is referenced as a key non-GAAP measure, providing insights into the company's liquidity and capital resources[36]. - Deferred tax assets valuation allowances were excluded from non-GAAP measures, facilitating a clearer evaluation of core operating performance[36]. - The company experienced gains on equity investments, netting $97 million in Q4 2025, which were excluded from non-GAAP calculations for comparability[40]. - Acquisition-related adjustments contributed $117 million to non-GAAP operating income in Q4 2025, reflecting the impact of strategic acquisitions on financial performance[40].