Financial Performance - F.N.B. Corporation reported total revenue of $1.8 billion for the full year 2025, with net income available to common shareholders of $565.4 million, or $1.56 per diluted common share, representing a 23% increase from 2024[3] - The fourth quarter 2025 earnings per diluted common share (non-GAAP) was $0.50, up from $0.38 in the fourth quarter of 2024, reflecting a 31.6% year-over-year increase[2] - Net income available to common shareholders for Q4 2025 was $168,693 thousand, a 12.8% increase from Q3 2025 and a 53.6% increase from Q4 2024[44] - Net income (annualized) for Q4 2025 reached $669,270,000, an increase of 12.9% from $593,162,000 in Q3 2025 and a 53.1% increase from $437,056,000 in Q4 2024[64] - Operating net income available to common shareholders reached $168,693 thousand in Q4 2025, an increase of 12.8% from Q3 2025 and 53.4% from Q4 2024[61] Loan and Deposit Growth - Average loans and leases totaled $35.0 billion, an increase of $1.2 billion, or 3.4%, driven by consumer loan growth[5] - Average deposits reached $38.6 billion, an increase of $1.7 billion, or 4.5%, with a stable mix of non-interest-bearing demand deposits at 26%[12] - Total loans and leases decreased slightly to $34,777 million in 4Q25 from $34,957 million in 3Q25, but increased by 2.5% compared to $33,939 million in 4Q24[54] - Total deposits rose to $38,759 million in 4Q25, reflecting a 0.8% increase from $38,441 million in 3Q25 and a 4.5% increase from $37,107 million in 4Q24[45] Interest Income and Margin - Net interest income for the fourth quarter totaled a record $365.4 million, an increase of $43.2 million, or 13.4%, year-over-year[10] - Net interest income for 4Q25 was $365,442 thousand, a 1.7% increase from Q3 2025 and a 13.4% increase from Q4 2024[44] - The net interest margin improved to 3.28% in 4Q25, up from 3.25% in 3Q25[46] - Net interest income (FTE) for 2025 was $1,395.8 million, compared to $1,280.4 million in 2024, reflecting an increase of 9.0%[48] - The net interest margin (FTE) improved to 3.19% in 2025 from 3.09% in 2024[51] Non-Interest Income and Expenses - Non-interest income totaled $92.3 million, an increase of $41.4 million, or 81.5%, compared to $50.9 million[13] - Non-interest income for Q4 2025 totaled $92,341 thousand, a decrease of 5.9% from Q3 2025 but an increase of 81.3% from Q4 2024[44] - Non-interest expense totaled $273.2 million, an increase of $25.0 million, or 10.1%[13] - Total non-interest expense for Q4 2025 was $273,169 thousand, reflecting a 12.2% increase from Q3 2025 and a 10.1% increase from Q4 2024[44] Credit Quality - The provision for credit losses was $18.9 million, a decrease of $5.1 million from the prior quarter, with net charge-offs of $16.4 million[8] - The provision for credit losses in Q4 2025 was $18,870 thousand, down 21.3% from Q3 2025 and down 15.2% from Q4 2024[44] - Non-performing loans decreased to $105 million in 4Q25, a reduction of 16.0% from 3Q25 and 34.0% from 4Q24[57] - The allowance for credit losses on loans and leases was $439.5 million in 4Q25, reflecting a 0.5% increase from 3Q25 and 4.0% from 4Q24[59] Capital and Equity - The Common Equity Tier 1 (CET1) regulatory capital ratio was estimated at 11.4%, up from 10.6% at December 31, 2024[8] - The CET1 regulatory capital ratio was 11.4% at December 31, 2025, up from 10.6% at December 31, 2024[15] - Shareholders' equity increased to $6,759 million in 4Q25, a 1.9% rise from $6,636 million in 3Q25 and a 7.3% increase from $6,302 million in 4Q24[45] - Book value per common share increased to $18.92 in 4Q25 from $18.52 in Q3 2025 and $17.52 in Q4 2024[51] Community Engagement - F.N.B. Corporation contributed $20.0 million to the FNB Foundation in December 2025, demonstrating commitment to community support[8] - The company reported a tax benefit of $4,200 thousand related to the FNB Foundation contribution in 4Q25[61] Operational Highlights - F.N.B. Corporation reported total assets exceeding $50 billion and operates approximately 350 banking offices across seven states and the District of Columbia[39] - The company plans to host a conference call on January 21, 2026, to discuss its financial results[35]

Financial Performance - Fourth quarter 2025 net income applicable to common shares was $212.6 million, with adjusted net income of $241.0 million, resulting in diluted EPS of $0.55 and adjusted EPS of $0.62[1][2][3] - Full-year 2025 net income applicable to common shares reached $653.1 million, with diluted EPS of $1.79 and adjusted EPS of $2.21[1] - Net income available to common shareholders for Q4 2025 was $212.589 million, compared to $178.533 million in Q3 2025 and $121.375 million in Q2 2025[27] - Net income for the three months ended December 31, 2025, was $216,623,000, up from $182,567,000 in the previous quarter, representing a 18.3% increase[29] - Net income applicable to common shares for the quarter was $212,589, an increase from $178,533, reflecting a growth of approximately 19%[42] - The company reported a net income of $653,122 for the twelve months ended December 31, 2025, compared to $523,053 for the previous year, representing a growth of about 24.8%[42] Loan and Deposit Growth - Total loans at period-end increased to $48.8 billion, reflecting a growth of $768.8 million or 6.4% annualized, driven by strong commercial loan production[2][9] - Total loans at the end of Q4 2025 reached $48.764 billion, up from $47.968 billion at the end of Q3 2025[27] - Total deposits at period-end were $55.1 billion, up 0.6% annualized, while core deposits decreased by 3.2% annualized[2][9] - Total deposits were $55.088 billion at the end of Q4 2025, slightly up from $55.006 billion in Q3 2025[27] - Demand deposits rose to $13,318,459 million, indicating strong customer confidence and liquidity[34] Interest Income and Margin - Net interest income on a fully taxable equivalent basis was $588.8 million, with a net interest margin of 3.65%, up 1 basis point[2][9] - Net interest income for Q4 2025 was $580.832 million, up from $574.609 million in Q3 2025, and significantly higher than $514.790 million in Q2 2025[27] - The company reported a net interest margin (NIM) of 3.60% for the latest quarter, slightly up from 3.59% in the previous quarter, and 3.49% for the twelve months, compared to 3.26% last year[43] Efficiency and Profitability Ratios - The efficiency ratio was reported at 51.6%, while the adjusted efficiency ratio improved to 46.0%[2][14] - Return on average tangible common equity (ROATCE) was 17.8%, with an adjusted ROATCE of 19.9%[2] - The efficiency ratio improved to 51.6% for the latest quarter, down from 58.8% in the previous quarter, and 55.1% for the twelve months, compared to 55.9% last year[45] - The company reported a return on average equity (ROAE) of 9.0% for the three months ended September 30, 2025, compared to 6.7% in the same period last year[46] Credit Quality and Loss Provisions - Provision for credit losses was $32.7 million, with net charge-offs of $32.1 million, representing 27 basis points of average loans[2][9] - The provision for credit losses in Q4 2025 was $32.745 million, compared to $26.738 million in Q3 2025 and $106.835 million in Q2 2025[27] - The allowance for credit losses on loans was $569,520 thousand, showing a slight decrease from $572,178 thousand in the previous quarter[30] - Nonaccrual loans amounted to $521,245 thousand, a decrease from $590,820 thousand in the prior quarter, showing a reduction of 11.7%[39] - The ratio of allowance for credit losses on loans to ending loans was 1.17%, down from 1.19% in the previous quarter[39] Operational Metrics - Total assets increased to $72.152 billion in Q4 2025 from $71.210 billion in Q3 2025[27] - The Tier 1 common equity ratio at the end of the period was 11.08%, slightly up from 11.02% in the previous quarter[28] - Full-time equivalent employees decreased to 4,971 from 5,243 in the previous quarter[28] - The company reported 346 banking centers, a decrease from 351 in the previous quarter[28] Adjustments and Charges - The company incurred notable pre-tax charges of $24.5 million related to merger expenses and a $15.9 million loss from the termination of a pension plan[4][14] - Adjustments for merger-related charges totaled $18,651, down from $52,780, indicating a reduction of about 64.7%[42] - The total adjustments for the quarter amounted to $28,385, compared to $52,775 in the previous quarter, a decrease of approximately 46.3%[42] Future Outlook - The company plans to continue focusing on market expansion and new product development to drive future growth[46]

Exhibit 99.1 https://files.reportify.cc/media/production/ONBPPf36d6d011d Old National Bancorp Reports Fourth Quarter and Full-Year 2025 Results Evansville, Ind. (January 21, 2026) Old National Bancorp (NASDAQ: ONB) reports 4Q25 net income applicable to common shares of $212.6 million, diluted EPS of $0.55; $241.0 million and $0.62 on an adjusted basis, respectively. Full- year net income applicable to common shares of $653.1 million, diluted EPS of $1.79; $808.6 million and $2.21 on an adjusted basis, respe ...

Old National Bancorp (NASDAQ: ONB) reports 4Q25 net income applicable to common shares of $212.6 million, diluted EPS of $0.55; $241.0 million and $0.62 on an adjusted basis, respectively. Full- year net income applicable to common shares of $653.1 million, diluted EPS of $1.79; $808.6 million and $2.21 on an adjusted basis, respectively. 1 1 CEO COMMENTARY: Exhibit 99.1 https://files.reportify.cc/media/production/ONBPOa0889d7f71 Old National Bancorp Reports Fourth Quarter and Full-Year 2025 Results Evansvi ...

Regulatory Environment - The Chinese government has significant control over the economy, which may adversely affect the operating entities' business and competitive position [28]. - The approval from the National Development and Reform Commission (NDRC) is required for small and medium-sized theme parks, with two parks currently lacking necessary approvals [34]. - Recent regulations require companies with over one million users' personal information to undergo cybersecurity reviews, but the operating entities do not currently meet this threshold [46]. - The PRC legal system presents uncertainties that may affect the enforcement of contractual rights and the protection of shareholders [29]. - The operating entities may face increased costs due to compliance with new laws and regulations imposed by the Chinese government [32]. - The operating entities' ability to conduct business may be hindered by new regulations or interpretations from the Chinese government [32]. - The recent Cybersecurity Review Measures require scrutiny of data processing activities that may affect national security, impacting future operations [41]. - The company is subject to uncertainties regarding the interpretation and implementation of the Cybersecurity Review Measures and Data Security Regulations, which may require adjustments to business practices [48]. - PRC regulations may limit the company's ability to inject capital into operating entities and could impose penalties on PRC resident shareholders for non-compliance with SAFE Circular 37 [49]. - Acquisitions by foreign investors in China are subject to complex procedures and may require approval from the Ministry of Commerce (MOFCOM), potentially delaying growth through acquisitions [51]. - Future business growth may be hindered by the time-consuming nature of regulatory compliance for acquisitions, affecting the company's ability to expand market share [52]. Financial Performance - For the fiscal years ended September 30, 2025, 2024, and 2023, the company's revenue was US$15,288,195, US$22,333,251, and US$31,786,802, respectively, with net (loss) income of US$(8,285,806), US$(1,796,552), and US$6,549,584 [92]. - For the fiscal year ended September 30, 2025, the Company's revenue was US$15,288,195, a decrease of 31.5% from US$22,333,251 in 2024, and net loss was US$(8,593,406) compared to a net income of US$(1,796,552) in 2024 [189]. - Rental income for the fiscal years ended September 30, 2025, 2024, and 2023 was US$12,302,168, US$3,069,483, and US$1,514,697, accounting for approximately 80.47%, 13.74%, and 4.77% of total revenue, respectively [211]. - In-park recreation sales amounted to US$2,986,027, US$19,263,768, and US$30,115,995, representing approximately 19.53%, 86.26%, and 94.74% of total revenue, respectively [210]. Operational Challenges - The operating entities may face challenges in maintaining cost-effectiveness of entertainment offerings due to external factors such as economic conditions and supplier pricing [75]. - Declines in discretionary guest spending and changes in guest preferences could negatively impact the profitability of the operating entities' business [76]. - The operating entities may struggle to contract with third-party suppliers for rides and attractions, which could lead to construction delays and affect park attendance [77]. - The high fixed cost structure of park operations can result in significantly lower margins if revenues decline, affecting profitability [89]. - Bad or extreme weather conditions can adversely impact park attendance and revenue, as seen with Typhoon Yángliǔ affecting operations [104]. Legal and Compliance Issues - The enforcement of the PRC Labor Contract Law may adversely affect the operating entities' business and results of operations due to its specific provisions on employment contracts and severance [61]. - The operating entities have not fully paid social insurance contributions and housing provident fund contributions for all employees in 2023, 2024, and 2025, which may lead to penalties of 0.05% per day for late payments [62]. - The operating entities are subject to periodic examinations by PRC tax authorities, and failure to fulfill tax obligations may result in fines or penalties [70]. - The company is subject to legal proceedings that could result in substantial monetary damages or settlements, adversely affecting financial condition [103]. - The company may face significant additional costs if it loses its foreign private issuer status, which could require compliance with more extensive U.S. reporting requirements [146]. Shareholder and Governance Issues - The dual-class structure of ordinary shares concentrates voting control with Class B shareholders, potentially misaligning interests with other shareholders [119]. - Cuizhang Gong owns 100% of Class B ordinary shares, giving him majority voting power, classifying the company as a "controlled company" under Nasdaq rules [121]. - The company may experience difficulties in protecting shareholder interests due to its incorporation under Cayman Islands law, which has less developed securities laws compared to the U.S. [130]. - The company has identified material weaknesses in its internal controls over financial reporting, leading to ineffective disclosure controls as of September 30, 2025 [142]. Investment and Growth Strategies - The company aims to secure a total investment of no less than US$100 million through a financial advisor over a two-year term [180]. - The operating entities are planning to open additional virtual reality experience halls in all parks following the refurbishment of the existing facility in Tongling West Lake Amusement World [208]. - The company plans to develop wedding photography and light show projects in collaboration with local partners, sharing project profits during the cooperation period [167]. - An estimated total of RMB326.4 million will be invested in the development of three new amusement parks [209]. Market and Economic Factors - The Chinese economy has experienced uneven growth, and any adverse changes in economic conditions could materially impact the operating entities' business [28]. - The company is sensitive to macroeconomic fluctuations and cultural tourism demand, which could lead to declines in rental income and collections [85]. - The trading price of Class A Ordinary Shares is expected to be volatile, influenced by market factors and company-specific operations [122]. - The company does not expect to pay dividends in the foreseeable future, relying on price appreciation for returns [128]. Tenant and Lease Management - The company faces risks related to tenant performance, which could materially affect revenues and cash flows if tenants default or terminate leases early [80]. - Asset impairment may occur if tenants do not maintain leased amusement assets, potentially leading to significant charges and reduced returns [81]. - The ability to renew leases on favorable terms is uncertain, and failure to do so may lead to significant relocation costs and operational disruptions [98]. - The company has entered into long-term lease agreements with Fuzhou Yibang for amusement parks, generating initial annual rental income of RMB30 million and RMB20 million for Tongling West Lake and Yueyang Amusement Worlds, respectively, with a 2% annual increase [78].

Financial Performance - Fourth quarter 2025 net sales were $1,612.3 million, a 7.3% increase from $1,502.3 million in Q4 2024, including $73.0 million from recent acquisitions[4] - Fourth quarter 2025 net income attributable to Teledyne was $275.6 million ($5.84 diluted earnings per share), up 38.8% from $198.5 million ($4.20 diluted earnings per share) in Q4 2024[4] - Full year 2025 net sales reached $6,115.4 million, a 7.9% increase from $5,670.0 million in 2024, with net income of $894.8 million ($18.88 diluted earnings per share), up 9.2% from $819.2 million ($17.21 diluted earnings per share) in 2024[7] - Operating income for Q4 2025 was $329.5 million, representing a 39.0% increase from $237.1 million in Q4 2024[40] - Net income for Q4 2025 was $275.6 million, compared to $199.1 million in Q4 2024, reflecting a year-over-year increase of 38.3%[45] - The company reported a total operating income of $329.5 million in Q4 2025, compared to $237.1 million in Q4 2024, representing an increase of 38.8%[51] Segment Performance - The Aerospace and Defense Electronics segment saw a 40.4% increase in Q4 2025 net sales to $275.9 million, driven by $68.5 million in incremental defense electronics sales from recent acquisitions[15][16] - Digital Imaging segment's Q4 2025 net sales were $850.5 million, a 3.4% increase, with operating income rising 79.4% to $162.9 million[11] - Aerospace and Defense Electronics segment achieved a GAAP operating income of $69.4 million in Q4 2025, up from $56.4 million in Q4 2024, marking a growth of 23.2%[51] - Digital Imaging segment reported GAAP operating income of $162.9 million in Q4 2025, up from $90.8 million in Q4 2024, representing an increase of 79.4%[51] - Instrumentation segment's revenue for the year 2025 was $413.3 million, an increase from $387.2 million in 2024, reflecting a growth of 6.7%[52] Cash Flow and Debt - Fourth quarter cash from operations was $379.0 million, with free cash flow of $339.2 million, compared to $332.4 million and $303.4 million respectively in Q4 2024[19][23] - As of December 28, 2025, net debt was $2,123.0 million, up from $1,999.2 million as of December 29, 2024[21] - Total debt as of December 28, 2025, was reported at $2,475.4 million, a decrease from $2,649.0 million in the previous year[54] - Cash and cash equivalents decreased to $352.4 million at the end of Q4 2025, down from $649.8 million at the end of Q4 2024, a decline of 45.7%[45] Tax and Expenses - The effective tax rate for Q4 2025 was 14.2%, compared to 11.7% in Q4 2024, with net discrete income tax benefits of $28.3 million[24] - The company reported a provision for income taxes of $45.6 million in Q4 2025, a 72.1% increase from $26.5 million in Q4 2024[40] - Corporate expenses for Q4 2025 were reported at $(21.3) million, slightly improved from $(20.7) million in Q4 2024[51] - Research and development expenses for the year 2025 totaled $317.3 million, an increase from $292.6 million in 2024[37] Future Outlook - The company issued a full year 2026 GAAP diluted earnings per share outlook of $19.76 to $20.22 and non-GAAP earnings per share outlook of $23.45 to $23.85[5][26] - Non-GAAP diluted earnings per common share outlook for Q1 2026 is projected to be between $5.40 and $5.50, while for the full year 2026, it is expected to be between $23.45 and $23.85[54] - Teledyne's growth strategy includes potential acquisitions, although no specific timelines or terms are guaranteed[32] Asset and Equity - Total assets increased to $15,285.3 million in Q4 2025, up from $14,200.5 million in Q4 2024, representing a growth of 7.6%[43] - The company reported a total stockholders' equity of $10,513.9 million in Q4 2025, up from $9,549.4 million in Q4 2024, a growth of 10.1%[43] - Total liabilities rose to $4,771.4 million in Q4 2025, compared to $4,645.1 million in Q4 2024, an increase of 2.7%[43] Non-GAAP Metrics - Non-GAAP net income for Q4 2025 was $377.1 million, compared to $329.3 million in Q4 2024, a growth of 14.5%[47] - Non-GAAP operating income for the total year 2025 was $1,380.0 million, compared to $1,248.0 million in 2024, indicating a year-over-year increase of 10.5%[52] - The company’s diluted earnings per share increased to $6.30 in Q4 2025 from $5.52 in Q4 2024, reflecting a year-over-year growth of 14.1%[47]

Financial Performance - Net income for Q4 2025 was $2,496 million, an increase from $1,888 million in Q4 2024, representing a growth of 32.3%[3] - Core income for Q4 2025 reached $2,511 million, up from $1,867 million in Q4 2024, reflecting a year-over-year increase of 34.4%[3] - The diluted earnings per share for Q4 2025 was $11.06, compared to $8.24 in Q4 2024, marking a 34.5% increase[3] - Net income for Q4 2024 was $2,082 million, with a year-to-date total of $6,288 million, representing a significant increase from $4,999 million in the previous year[4] - Core income for Q4 2024 reached $2,126 million, leading to a year-to-date total of $6,325 million, up from $5,025 million in the prior year[4] - Net income for YTD 4Q2025 reached $6,288 million, compared to $4,999 million for YTD 4Q2024, reflecting a growth of approximately 25.7%[102] Assets and Equity - Total assets at the end of Q4 2025 were $143,678 million, up from $133,189 million at the end of Q4 2024, indicating a growth of 7.9%[3] - Total equity at the end of Q4 2025 was $32,894 million, an increase from $27,864 million in Q4 2024, representing a growth of 17.9%[3] - Statutory capital and surplus increased from $25,329 million in Q1 2024 to $31,064 million by Q4 2025[17] - Common equity (excluding net unrealized investment gains) rose from $31,504 million in December 2024 to $34,372 million in December 2025, an increase of 9.0%[94] - GAAP shareholders' equity rose to $32,894 million in 2025, up from $27,864 million in 2024, indicating an increase of about 18.0%[98] Investment Performance - Net investment income for Q4 2024 was $102 million, with an expected increase to $120 million in Q4 2025, reflecting a positive trend in investment performance[37] - Net investment income after tax for YTD 4Q2025 was $3,254 million, an increase from $2,952 million in YTD 4Q2024, reflecting a growth of 10.2%[79] - The yield on taxable fixed maturities rose to 4.11% in December 2025, compared to 3.87% in December 2024[72] - The average yield after tax for the investment portfolio was 3.1% in 4Q2025, compared to 3.0% in 4Q2024[79] - The net unrealized investment losses decreased to $(1,478) million in December 2025 from $(3,640) million in December 2024, showing an improvement in investment performance[72] Premiums and Revenues - Total revenues for Q4 2024 reached $1,103 million, with a year-to-date total of $4,378 million, compared to $1,177 million and $4,579 million for Q4 2025 respectively[37] - Total revenues for 1Q2025 reached $11,871 million, an increase from $11,193 million in 1Q2024, representing a growth of 6.1%[13] - Premiums collected in Q4 2024 amounted to $10,868 million, with a year-to-date total of $41,941 million, reflecting an increase from $10,704 million in Q3 2024[6] - Gross written premiums for Q1 2024 were $11,310 million, with a year-to-date total of $46,550 million, increasing to $47,703 million by Q4 2025[17] - Total revenues for Travelers Companies grew from $17,418 million in YTD 4Q2024 to $18,279 million in YTD 4Q2025, marking an increase of 4.9%[50] Claims and Expenses - Claims and claim adjustment expenses for Q4 2024 totaled $6,034 million, a decrease from $10,344 million in Q3 2024, indicating improved claims management[6] - Claims and claim adjustment expenses for 1Q2025 totaled $8,006 million, an increase from $6,656 million in 1Q2024, representing a rise of 20.3%[13] - Losses and loss adjustment expenses for Q1 2024 were $6,602 million, totaling $26,828 million year-to-date by Q4 2024[17] - Losses and loss adjustment expenses in Q4 2024 were $2,423 million, decreasing to $2,173 million in Q4 2025, contributing to a year-to-date total of $11,606 million in 2024[57] - The combined ratio improved to 91.7% in Q4 2025, compared to 96.1% in Q2 2024[27] Shareholder Returns - The company declared common stock dividends of $250 million in Q4 2025, slightly down from $252 million in Q4 2024[3] - Dividends paid to shareholders amounted to $979 million for YTD 4Q2025, up from $951 million in YTD 4Q2024, reflecting a growth of approximately 2.9%[104] - The company repurchased 5.8 million shares at a cost of $1,650 million during the year, compared to 4.4 million shares for $1,000 million in the previous year[3] Reinsurance and Risk Management - Gross reinsurance recoverables on paid and unpaid claims and claim adjustment expenses increased to $4,352 million in 2025 from $3,962 million in 2024, reflecting a growth of 9.8%[83] - The total gross reinsurance recoverables reached $8,306 million in 2025, up from $8,119 million in 2024, indicating a 2.3% increase[83] - The allowance for estimated uncollectible reinsurance rose to $135 million in 2025 from $119 million in 2024, representing a 13.4% increase[83] - The top five reinsurer groups accounted for a significant portion of gross reinsurance recoverables, with Swiss Re Group at $737 million and Berkshire Hathaway at $435 million[83] Operational Efficiency - The combined ratio improved to 93.0% for YTD 4Q2025, down from 99.1% in 1Q2024, indicating better underwriting performance[65] - The underwriting expense ratio remained stable at 26.6% for YTD 4Q2025, consistent with the previous year[65] - The effective tax rate on net investment income remained stable at approximately 18.0% across the reporting periods[50] Segment Performance - Segment income for Personal Insurance improved from $1,249 million in YTD 4Q2024 to $2,053 million in YTD 4Q2025, a significant increase of 64.3%[50] - The combined ratio for Personal Insurance improved from 94.4% in 4Q2024 to 89.5% in 4Q2025, indicating better underwriting performance[54] - The company operates in multiple segments, including Business Insurance, Bond & Specialty Insurance, and Personal Insurance, each offering a range of products[122][123][125]

Financial Performance - Halliburton reported net income of $589 million, or $0.70 per diluted share, for Q4 2025, a significant increase from $18 million, or $0.02 per diluted share, in Q3 2025[4]. - Total revenue for Q4 2025 was $5.7 billion, up from $5.6 billion in Q3 2025, with an operating income of $746 million compared to $356 million in the previous quarter[4]. - For the full year 2025, total revenue was $22.2 billion, a decrease from $22.9 billion in 2024, and operating income was $2.3 billion, down from $3.8 billion in 2024[5]. - Halliburton's adjusted operating income for Q4 2025 was $829 million, compared to $748 million in Q3 2025, reflecting improved operational efficiency[4]. - Net income for 2025 was $1,292 million, down 48.7% from $2,516 million in 2024, resulting in a basic net income per share of $1.50 compared to $2.84 in the previous year[45]. - Total operating income decreased to $2,260 million in 2025 from $3,822 million in 2024, reflecting a decline of 40.7%[46]. - Adjusted operating income for 2025 was $3,091 million, down from $3,938 million in 2024, reflecting a decline of 21.5%[51]. - Net income attributable to the company for 2025 was $1,283 million, a decrease of 48.7% compared to $2,501 million in 2024[59]. - Adjusted net income attributable to the company for 2025 was $2,061 million, down from $2,644 million in 2024, representing a decline of 21.9%[59]. - Net income per diluted share for 2025 was $1.50, down from $2.83 in 2024, a decline of 47.0%[59]. - Adjusted net income per diluted share for 2025 was $2.42, compared to $2.99 in 2024, reflecting a decrease of 19.0%[59]. Cash Flow and Expenditures - Cash flow from operations in Q4 2025 was $1.2 billion, with free cash flow of $875 million, representing an 85% return of free cash flow to shareholders for the full year[9]. - Cash flows from operating activities for 2025 were $2,926 million, down from $3,865 million in 2024[40]. - Free cash flow for the year ended December 31, 2025, was $1,857 million, compared to $2,646 million in 2024, a decrease of 29.8%[61]. - Capital expenditures for 2025 were $1,254 million, a decrease from $1,442 million in 2024[40]. Revenue Breakdown - North America revenue in Q4 2025 was $2.2 billion, a 7% decrease sequentially, primarily due to lower stimulation activity[12]. - International revenue increased by 7% to $3.5 billion in Q4 2025, driven by higher completion tool sales and improved well intervention services[13]. - Revenue from North America for 2025 was $9,066 million, down from $9,626 million in 2024, representing a decline of 5.8%[45]. Impairments and Charges - Impairments and other charges for 2025 amounted to $831 million, significantly higher than $116 million in 2024[45]. - The company incurred a charge of $23 million due to the impairment of an investment in Argentina during 2025[31]. - Halliburton incurred a charge of $23 million due to the impairment of an investment in Argentina during the three months ended September 30, 2025[56]. Strategic Initiatives - Halliburton announced a strategic collaboration with VoltaGrid to deliver distributed power generation solutions, targeting an initial rollout in the Middle East with 400 megawatts of modular natural gas power systems by 2028[18]. - The company launched the StreamStar™ wired drill pipe interface system, enhancing real-time data delivery and downhole power, aimed at reducing well construction time[18]. - Halliburton repurchased $250 million of its common stock and paid dividends of $0.17 per share during the fourth quarter[19]. Future Outlook - The company plans to host a conference call on January 21, 2026, to discuss its fourth quarter 2025 financial results[63].

Financial Performance - Net income available to common stockholders for the year ended December 31, 2025, was $103.4 million, or $2.36 per diluted common share, compared to $21.8 million, or $0.55 per diluted common share for 2024, representing a significant increase [3]. - For Q4 2025, net income available to common stockholders was $30.0 million, or $0.68 per diluted common share, up from $25.8 million, or $0.59 per diluted common share in Q3 2025 [4]. - Adjusted diluted EPS for Q4 2025 was $0.79, an 88% increase year-over-year from $0.42 in Q4 2024 [5]. - The company reported a net income of $31,856 thousand for Q4 2025, compared to a net loss of $20,413 thousand in Q4 2024, reflecting a turnaround in profitability [36]. - Reported net income available to common stockholders for Q4 2025 was $30,035 million, up from $25,849 million in Q3 2025, and a significant increase from a loss of $22,234 million in Q4 2024 [49]. Asset and Deposit Growth - Total deposits increased by $1.16 billion year-over-year, reaching $12.84 billion at the end of Q4 2025 [8]. - Total assets increased to $15,341,631 thousand as of December 31, 2025, up from $14,538,943 thousand as of September 30, 2025, representing a growth of 5.5% [33]. - Non-interest-bearing checking deposits rose to $3,915,081 thousand, an increase of 8.8% from $3,597,682 thousand in the prior quarter [33]. - The company reported a total of $12,794,195 thousand in deposits, an increase of 6.8% from $11,978,362 thousand in the previous quarter [33]. Loan Performance - Business loans grew by $177.9 million on a linked quarter basis and $514.0 million year-over-year, totaling $3.24 billion at the end of Q4 2025 [8]. - Total loans held for investment, net, reached $10,660,836 thousand, slightly up from $10,631,613 thousand in the previous quarter, indicating a marginal increase of 0.3% [33]. - Business loans increased to $3,240,600 thousand, up from $3,062,674 thousand, reflecting a growth of 5.8% [33]. - The average yield on business loans was 6.72%, slightly down from 6.74% in the previous quarter [42]. Efficiency and Profitability Metrics - The efficiency ratio improved to 52.6% in Q4 2025, down from 53.8% in Q3 2025 and significantly better than 105.9% in Q4 2024 [21]. - The return on average assets was 0.84% for Q4 2025, up from 0.77% in Q3 2025 and a recovery from -0.59% in Q4 2024 [38]. - Adjusted efficiency ratio for Q4 2025 improved to 50.3%, compared to 53.1% in Q3 2025 and 58.0% in Q4 2024 [51]. Interest Income and Margin - Total interest income for Q4 2025 was $180,484 thousand, an increase from $165,483 thousand in Q4 2024, representing a 9.0% year-over-year growth [36]. - Net interest income after provision for credit losses was $101,400 thousand for Q4 2025, up from $77,383 thousand in Q4 2024, marking a 31.0% increase [36]. - The net interest margin increased to 3.11% in Q4 2025, compared to 3.01% in Q3 2025 and 2.79% in Q4 2024 [10]. Non-Performing Assets and Credit Quality - Non-performing assets declined by 27% on a linked quarter basis, representing 0.34% of total assets at the end of Q4 2025 [9]. - Total non-performing assets (NPAs) increased to $52,762 thousand in December 2025 from $49,479 thousand in December 2024, reflecting a rise of approximately 6.5% year-over-year [45]. - Non-performing loans (NPLs) for business loans rose to $22,606 thousand in December 2025, compared to $21,005 thousand in September 2025, marking an increase of about 7.6% [45]. - The company emphasized its commitment to enhancing asset quality and managing non-performing loans effectively in the upcoming quarters [45]. Shareholder Returns - Cash dividends paid per common share remained stable at $0.25 for both Q4 2025 and Q4 2024, reflecting consistent shareholder returns [38]. - Book value per common share as of December 31, 2025, was $30.99, compared to $30.44 as of September 30, 2025 and $29.34 as of December 31, 2024 [54].

Financial Performance - 4Q 2025 net income was $69.3 million, with diluted EPS of $0.90, reflecting a 6 basis point NIM expansion[1] - Full year 2025 net income reached $268.4 million, a 15% increase from 2024, with EPS of $3.53 compared to $3.08 in 2024[7] - Net income for Q4 2025 was $69.3 million, compared to $71.9 million in Q3 2025 and $69.3 million in Q4 2024[32] - Basic earnings per common share for the three months ended December 31, 2025, was $0.91, down from $0.96 in the previous quarter and $0.92 a year ago[39] - Adjusted net income for the three months ended December 31, 2025, was $72,050,000, reflecting a write-down on capitalized software of $3,770,000[49] Loan and Deposit Growth - Non-interest bearing deposits grew by $485 million in Q4 and $1.5 billion for the year, representing a 20% increase[12] - Total loans increased by $571 million in Q4, with core loans growing by $769 million[12] - Total deposits increased to $29.4 billion as of December 31, 2025, from $28.6 billion as of September 30, 2025[30] - Non-interest bearing demand deposits totaled $8,083,605 thousand, reflecting a stable funding base[36] Interest Income and Margin - Total interest income for Q4 2025 was $442.4 million, down from $452.9 million in Q3 2025 and $468.0 million in Q4 2024[32] - Net interest margin for Q4 was 3.06%, up 0.06% from the prior quarter and 0.22% from 4Q 2024[7] - The interest rate spread for the three months ended December 31, 2025, was 1.95%, compared to 1.86% for the previous quarter[34] - The company reported an interest rate margin of 2.95% for the year ended December 31, 2025, compared to 2.73% in 2024[36] Expenses and Provisions - Non-interest expense for Q4 2025 totaled $172.8 million, an increase of 4.0% from $166.2 million in Q3 2025 and 7.5% from $160.5 million in Q4 2024[22] - For the year ended December 31, 2025, non-interest expense was $663.5 million, up from $642.0 million in 2024, reflecting investments in employee compensation and benefits[22] - Provision for credit losses was $25.6 million for Q4, driven by increased specific reserves related to two C&I loans[17] Equity and Capital - The tangible common equity ratio improved to 8.5%, with tangible book value per share at $40.14, reflecting a 10% year-over-year growth[14] - Total stockholders' equity increased to $3,053,829,000 as of December 31, 2025, from $2,814,318,000 a year ago[49] - Tangible book value per common share was $40.14 as of December 31, 2025, compared to $39.27 in the previous quarter and $36.61 a year ago[41] Interest Rates and Yields - The average cost of deposits declined by 0.20% to 2.18%, with spot APY falling to 2.10% from 2.31% in the prior quarter[12] - The average rate paid on interest-bearing deposits decreased to 3.15% in Q4 2025 from 3.40% in Q3 2025, influenced by a lower Federal funds rate[23] - The tax-equivalent yield on loans decreased to 5.37% in Q4 2025 from 5.53% in Q3 2025, reflecting declining market rates[23] Asset and Liability Management - Total assets as of December 31, 2025, were $35.0 billion, slightly down from $35.1 billion as of September 30, 2025[26] - Total liabilities reached $32,091,072 thousand, with interest-bearing liabilities at $22,460,094 thousand and a total stockholders' equity of $3,094,687 thousand[34] - Loans averaged $23,697,215 thousand with an interest yield of 5.37%, while investment securities averaged $9,583,958 thousand with a yield of 4.93%[34] Performance Ratios - Return on average assets for the three months ended December 31, 2025, was 0.78%, consistent with the previous quarter and up from 0.66% a year ago[41] - Return on average stockholders' equity for the three months ended December 31, 2025, was 8.9%, down from 9.5% in the previous quarter and up from 8.5% a year ago[41] - Non-performing loans to total loans ratio was 1.54% as of December 31, 2025, down from 1.60% in the previous quarter and up from 1.03% a year ago[41]