Financial Performance - For fiscal year 2026, the company anticipates consolidated net sales to increase between 2.8% and 4.2% compared to fiscal 2025[103]. - Net sales for the three months ended December 31, 2025, were $318.2 million, an increase of $13.9 million or 4.6% from $304.3 million in the prior year period[107]. - Gross profit for the three months ended December 31, 2025, was $119.8 million, an increase of $16.8 million or 16.3% from $103.0 million in the prior year period[108]. - Gross margin for the three months ended December 31, 2025, was 37.6%, compared to 33.8% in the prior year period[108]. - Net sales for the Water Management Solutions segment increased by $15.5 million or 12.0% to $145.2 million for the three months ended December 31, 2025, driven by higher pricing and volumes[115]. - Gross profit for the three months ended December 31, 2025, was $49.0 million, an increase of $1.1 million or 2.3%, with gross margin decreasing to 33.7% from 36.9%[116]. Expenses and Costs - Selling, general and administrative expenses for the three months ended December 31, 2025, were $59.8 million, an increase of $5.9 million or 10.9% from $53.9 million in the prior year period[109]. - SG&A for the three months ended December 31, 2025, was $21.4 million, an increase of $1.6 million or 8.1% compared to the prior year, with SG&A as a percentage of net sales rising to 12.4% from 11.3%[114]. - Net interest expense for the three months ended December 31, 2025, was $1.0 million, a decrease of $0.6 million or 37.5% from $1.6 million in the prior year period[111]. - The company expects inflation to continue to modestly impact manufacturing costs, primarily due to wage inflation and higher direct tariff costs of approximately 3% of costs of sales during fiscal 2026[104]. - The increase in Section 232 tariffs to 50% has resulted in upward pressure on certain purchased components and raw material costs, particularly affecting the Repair products imported to the United States[101]. Cash Flow and Capital Expenditures - Cash and cash equivalents on hand as of December 31, 2025, were $459.6 million, with an additional borrowing capacity of $163.7 million under the asset-based lending arrangement[119]. - Net cash flows provided by operating activities increased by $7.1 million to $61.2 million for the three months ended December 31, 2025, driven by an increase in net income[135]. - Capital expenditures for the three months ended December 31, 2025, were $17.2 million, up from $11.9 million in the prior year, primarily due to higher expenditures associated with iron foundries[136]. - For fiscal year 2026, capital expenditures are expected to be between $60.0 million and $65.0 million to expand production capacity and enhance operational capabilities[140]. Shareholder Returns - The company repurchased $5.5 million of common stock during the three months ended December 31, 2025, with $59.5 million remaining under the share repurchase authorization[122]. - A quarterly dividend of $0.070 per share was declared, resulting in an estimated cash outlay of $10.9 million[141]. Credit Rating - The corporate credit rating as of December 31, 2025, was Ba1 from Moody's and BB+ from Standard & Poor's, with a stable outlook[138].

Financial Performance - Net income for the three months ended December 27, 2025, was $45,780, compared to $19,420 for the same period in 2024, reflecting a year-over-year increase of 135.5%[14] - Operating income rose to $67,651, an increase from $59,062, marking an increase of 14.5%[14] - Revenues decreased slightly to $370,386 from $373,329, a decline of about 0.8%[14] - For the three months ended December 27, 2025, total revenues were $370.386 million, a slight decrease from $373.329 million for the same period in 2024[54] - Operating income increased to $112.529 million for the three months ended December 27, 2025, compared to $104.331 million in the prior year, reflecting a growth of 7.8%[145] - Total gross margin for Q1 fiscal 2026 was $239.5 million, an increase of $13.4 million, or 5.9%, compared to the prior year[166] Assets and Liabilities - Total assets increased to $2,395,780, up from $2,296,274, representing a growth of approximately 4.3%[11] - Long-term borrowings increased to $1,322,505 from $1,211,745, an increase of approximately 9.2%[11] - Total current liabilities decreased to $272,639 from $302,820, a reduction of about 9.9%[11] - As of December 27, 2025, total cash, cash equivalents, and restricted cash amounted to $11,575 million, a decrease from $11,771 million as of September 27, 2025[76] - Total long-term debt as of December 27, 2025, was $1,345.2 million, compared to $1,323.3 million in the prior year[205] - Total debt as of December 27, 2025, is $1,345,245,000, an increase from $1,229,845,000 as of September 27, 2025[208] Cash Flow and Financing - Net cash used in operating activities for Q1 fiscal 2026 was $47.7 million, a significant decrease from net cash provided of $8.8 million in the prior year[199] - Net cash used in investing activities was $41.3 million, including $22.0 million for acquisitions and $19.8 million in capital expenditures[200] - Net cash provided by financing activities was $88.8 million, reflecting $115.4 million in net borrowings under the Revolving Credit Facility[202] - The weighted average interest rate for borrowings under the Revolving Credit Facility was approximately 6.27% as of December 27, 2025[106] Revenue Sources - The propane segment generated approximately 88% of the Partnership's total revenue, with residential sales contributing $203.742 million, up from $197.114 million in the prior year[53] - The Partnership recognized $41.250 million in revenue from annually billed contracts during the three months ended December 27, 2025, compared to $36.122 million in the same period of 2024[54] Acquisitions and Investments - Suburban Renewable Energy acquired RNG production assets for $190 million on December 28, 2022, with potential contingent consideration valued at $6.194 million based on future performance[55] - The Partnership acquired propane assets from a retailer in California for $14,000, with $13,269 paid as of December 27, 2025[62] - Another acquisition of propane assets was made for $10,000, with $8,704 paid as of December 27, 2025[63] Impairments and Charges - The Partnership recorded an other-than-temporary impairment charge of $9,595 for its investment in Independence Hydrogen, reducing its carrying value to an estimated fair value of $21,589[57] - The Partnership fully impaired its investment in Oberon Fuels, resulting in a charge of $10,213, bringing the carrying value down to $0[59] - A further impairment charge of $6,095 was recorded for another development-stage entity, also reducing its investment to $0[60] Operational Metrics - Retail propane gallons sold increased by 4.2% to 110.2 million gallons in Q1 fiscal 2026, driven by colder temperatures and contributions from recent acquisitions[165] - Average propane prices decreased by 14.0% compared to the prior year, impacting total revenues from propane distribution, which fell by $3.9 million, or 1.2%[166][175] Legal and Regulatory - The Partnership's operations are subject to legal proceedings, but it does not expect any material adverse effects on its financial condition from current litigation[125] - The Partnership's financial statements are prepared in accordance with SEC regulations and include necessary adjustments for fair presentation[35] Compensation and Employee Expenses - Compensation expense for the Restricted Unit Plan for the three months ended December 27, 2025, was $2,313[116] - Compensation expense recognized for the Long-Term Incentive Plan for the three months ended December 27, 2025, was $4,064[122] - Payroll and payroll benefit expenses increased to $88.741 million, compared to $84.773 million in the prior year, reflecting a rise of 4.1%[144] Strategic Initiatives - The long-term strategic growth plan focuses on expanding the core propane business while investing in lower carbon renewable energy alternatives[173] - The Partnership's business model includes a bundled product offering with a home warranty called EnergyGuard, aimed at enhancing customer retention[126]

Financial Performance - Net sales for the third quarter of fiscal 2026 reached $805.0 million, an increase of $188.2 million or 31% compared to the same quarter last year, primarily driven by higher sales in the Climate Solutions segment [113][117]. - The company recorded a gross profit of $186.1 million in the third quarter, with a gross margin of 23.1%, down 120 basis points from the prior year due to temporary operating inefficiencies [116][120]. - Operating income for the third quarter was $89.3 million, an increase of $30.0 million from the previous year, primarily due to higher gross profit [113][124]. - Year-to-date net sales for fiscal 2026 were $2,226.7 million, up $290.4 million or 15% from the same period last year, mainly due to increased sales in the Climate Solutions segment [115][128]. - Operating income for the first nine months of fiscal 2026 was $238.5 million, an increase of $29.5 million compared to the same period last year [134]. - Gross profit for Climate Solutions increased by $49.8 million year-to-date, but gross margin declined by 280 basis points to 25.8 percent [147]. - Gross profit decreased by $14.2 million, resulting in a gross margin decline of 100 basis points to 18.6% [160]. Costs and Expenses - Cost of sales for the third quarter increased by $151.7 million or 32%, leading to a gross margin decline due to higher sales volume and temporary inefficiencies [119][129]. - A non-cash pension termination charge of $116.1 million was recorded in the third quarter, impacting net earnings significantly [114][125]. - SG&A expenses increased by $7.3 million in the third quarter, driven by higher compensation-related expenses in the Climate Solutions segment [122]. - SG&A expenses increased by $7.8 million year-to-date in fiscal 2026, but as a percentage of sales, they decreased by 130 basis points [131]. - Year-to-date SG&A expenses decreased by $18.2 million, or 23%, with SG&A expenses as a percentage of sales decreasing by 180 basis points [161]. - Restructuring expenses in the first nine months of fiscal 2026 increased by $2.8 million compared to the same period last year [149]. - Interest expense increased by $1.9 million year-to-date, primarily due to higher average outstanding borrowings [135]. Strategic Transactions - The company announced a Reverse Morris Trust transaction with Gentherm, which will result in shareholders receiving approximately 40% ownership of the combined company and cash proceeds of $210.0 million [106][107]. - The company expects to incur transaction-related fees of approximately $30.0 million to $40.0 million in connection with the Gentherm transaction [107]. - Cash payments totaling $182.4 million were made for acquisitions, including L.B. White and Climate by Design, to accelerate strategic growth [168]. - Borrowings on credit facilities totaled $258.3 million to support strategic growth initiatives, including acquisitions and Data Center expansion [169]. Segment Performance - Climate Solutions segment net sales increased by $311.9 million, or 29 percent, year-to-date, driven by higher sales volume and favorable foreign currency exchange rates [145]. - Performance Technologies segment net sales decreased by $30.9 million, or 4 percent, year-to-date, primarily due to lower sales volume in North America [157]. - Climate Solutions cost of sales increased by $262.1 million, or 34 percent, year-to-date, primarily due to higher sales volume and temporary operating inefficiencies [146]. - SG&A expenses in the Climate Solutions segment increased by $21.6 million, or 18 percent, year-to-date, yet decreased by 90 basis points as a percentage of sales [148]. Cash Flow and Capital Expenditures - Net cash provided by operating activities was $53.8 million, a decrease of $104.7 million compared to the prior year, primarily due to increased working capital [166]. - Capital expenditures increased by $44.9 million to $101.2 million, driven by investments in the Climate Solutions segment [167]. - As of December 31, 2025, the company had $98.7 million in cash and cash equivalents and $216.8 million in available borrowing capacity [165].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the quarterly period ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to WASHINGTON, D.C. 20549 Commission file number 0-51813 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 LIQUIDITY SERVICES, INC. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of (I.R.S. E ...

Financial Position - Total assets decreased by $119.6 million to $7.62 billion at December 31, 2025, from $7.74 billion at June 30, 2025[119]. - Net loans receivable decreased by $58.3 million, or 1.0%, to $5.71 billion at December 31, 2025, from $5.77 billion at June 30, 2025[123]. - Total deposits increased by $36.3 million, or 0.6%, to $5.71 billion at December 31, 2025, from $5.68 billion at June 30, 2025[133]. - Stockholders' equity increased by $11.4 million to $757.4 million at December 31, 2025, largely reflecting net income of $19.0 million[138]. - The allowance for credit losses totaled $45.0 million, or 0.78% of total loans, at December 31, 2025, compared to $46.2 million, or 0.79% of total loans, at June 30, 2025[130]. - Investment securities available for sale decreased by $12.6 million to $1.00 billion at December 31, 2025[120]. - Loans held-for-sale totaled $8.8 million at December 31, 2025, compared to $5.9 million at June 30, 2025[122]. - Commitments to originate and purchase loans totaled $42.5 million at December 31, 2025, up from $26.4 million at June 30, 2025[183]. - Construction loans in process were $162.0 million at December 31, 2025, compared to $115.7 million at June 30, 2025[184]. Income Statement - Net income for the quarter ended December 31, 2025, was $9.4 million, or $0.15 per diluted share, compared to $6.6 million, or $0.10 per diluted share, for the quarter ended December 31, 2024[140]. - Net income for the six months ended December 31, 2025, was $19.0 million, or $0.30 per diluted share, compared to $12.7 million, or $0.20 per diluted share, for the same period in 2024[159]. - Net interest income increased by $5.4 million to $38.0 million for the quarter ended December 31, 2025, compared to $32.6 million for the same quarter in 2024[141]. - Net interest income for the six months ended December 31, 2025, increased by $10.6 million to $75.7 million compared to $65.1 million for the same period in 2024[160]. - Total non-interest income increased by $698,000 to $5.6 million for the quarter ended December 31, 2025, compared to $4.9 million for the same quarter in 2024[150]. - Total non-interest income rose by $1.9 million to $11.4 million for the six months ended December 31, 2025, compared to $9.5 million for the same period in 2024[169]. Expenses - Salaries and employee benefits increased by $794,000 to $18.4 million for the quarter ended December 31, 2025, from $17.6 million for the same quarter in 2024[152]. - Total non-interest expense increased by $1.6 million to $31.2 million for the quarter ended December 31, 2025, compared to $29.6 million for the same quarter in 2024[152]. - Total non-interest expense increased by $3.5 million to $62.9 million for the six months ended December 31, 2025, compared to $59.3 million for the same period in 2024[172]. - Salaries and employee benefits rose by $2.0 million to $37.1 million for the six months ended December 31, 2025, driven by higher salary expenses and payroll taxes[173]. Credit Quality - Nonperforming assets increased by $5.7 million to $51.3 million, or 0.67% of total assets, at December 31, 2025[128]. - Provision for credit losses increased by $460,000 to $567,000 for the quarter ended December 31, 2025, compared to $107,000 for the same quarter in 2024[149]. - Provision for credit losses increased to $485,000 for the six months ended December 31, 2025, from $215,000 in the prior year, primarily due to adjustments related to a non-performing loan[168]. Taxation - Effective tax rate increased to 19.8% for the quarter ended December 31, 2025, from 16.0% for the same quarter in 2024[158]. - The effective tax rate increased to 20.2% for the six months ended December 31, 2025, from 15.6% in the prior year, reflecting higher projected taxable income[180]. Capital Ratios - The Bank's total capital to risk-weighted assets ratio was 14.75% at December 31, 2025, exceeding the minimum regulatory requirement of 8.00%[186]. - Tier 1 capital to risk-weighted assets ratio was 13.79% at December 31, 2025, above the minimum requirement of 6.00%[186]. - Common equity tier 1 capital to risk-weighted assets ratio was 13.79% at December 31, 2025, surpassing the minimum of 4.50%[186]. - The Bank's total capital to risk-weighted assets ratio was 14.49% at June 30, 2025, also above the regulatory minimum[186]. Interest Rate Sensitivity - The Bank's internal analysis indicated that a 300 basis point increase in interest rates would decrease the Economic Value of Equity (EVE) by 29.82% to $528,474[195]. - A 200 basis point increase in interest rates would reduce net interest income (NII) by 7.42% to $148,358 over a 1 to 12 month period[195]. - The interest rate spread improved to 1.75% for the six months ended December 31, 2025, compared to 1.39% for the same period in 2024[168]. - The sensitivity of EVE to interest rate changes is influenced by the composition and allocation of the balance sheet[196]. - Future interest rates and their effects on net interest income are unpredictable and based on numerous assumptions[197]. Liquidity - Liquidity included $147.3 million of short-term cash and cash equivalents and $1.00 billion of investment securities available for sale as of December 31, 2025[182]. - The Asset/Liability Management program is overseen by the Board of Directors to manage interest rate risk[191]. - The Bank had no significant off-balance sheet commitments for capital expenditures as of December 31, 2025[188].

Financial Performance - Net sales for the three months ended December 31, 2025, were $4,229 million, a 5.6% increase from $4,004 million in the same period of 2024[186]. - For the six months ended December 31, 2025, net sales reached $7,710 million, reflecting a 5% increase from $7,365 million in the previous year[210]. - Net sales for the three months ended December 31, 2025, were reported at $4,229 million, a 6% increase from $4,004 million in the prior year[210]. - Total revenue for the six months ended December 31, 2025, was $7,710 million, an increase of 5% compared to $7,365 million in the same period of 2024[291]. - The Americas region generated net sales of $1,218 million in Q2 2025, slightly up from $1,209 million in Q2 2024[188]. - Reported net sales in The Americas decreased 1% for the six months ended December 31, 2025, driven by a 2% decrease from pricing[245]. Profitability - Gross profit margin improved to 76.5% in Q2 2025 from 76.1% in Q2 2024, with gross profit reaching $3,235 million[186]. - Operating income for the three months ended December 31, 2025, was $401 million, compared to an operating loss of $580 million in the same period of 2024[186]. - Reported operating income for the three months ended December 31, 2025, was $401 million, a $981 million increase from the prior-year period[255]. - Operating income for the six months ended December 31, 2025, was $570 million, a significant increase of $1,271 million from a loss of $701 million in the prior year[287]. - The effective tax rate increased to 51.40% for the three months ended December 31, 2025, from 9.20% in the prior year, primarily due to losses before income taxes and the impact of goodwill impairment[277]. Product Category Performance - Skin Care product category net sales increased to $2,054 million in Q2 2025, up from $1,921 million in Q2 2024, representing a 6.9% growth[188]. - Skin care net sales increased by $133 million, or 7%, for the three months ended December 31, 2025, and by $179 million, or 5%, for the six months ended December 31, 2025[217]. - Fragrance net sales rose by $68 million, or 9%, for the three months ended December 31, 2025, and by $159 million, or 12%, for the six months ended December 31, 2025[231]. - Reported makeup net sales increased slightly by $14 million, or 1%, for the three months ended December 31, 2025[224]. - Reported hair care net sales increased $9 million, or 6%, for the three months ended December 31, 2025, primarily due to higher sales from The Ordinary and the launch in Amazon's U.S. Premium Beauty store[235]. Challenges and Risks - The company anticipates continued volatility and uncertainty in its business environment, particularly in Western Europe and the U.S. department store sector[194]. - The company continues to face challenges from inflationary pressures and supply chain issues, which may impact consumer preferences and overall profitability[198]. - The company expects to continue facing challenges related to foreign currency translation and restructuring charges in future periods[281]. - The company is monitoring the effects of tariffs and expects higher rates to adversely affect fiscal 2026 profitability and cash flows[195]. Strategic Initiatives - The strategic vision "Beauty Reimagined" aims to enhance consumer engagement and drive sustainable growth through operational efficiencies[197]. - The introduction of new products is expected to impact sales, with ongoing innovation and marketing efforts to support both new and existing products[191]. - The restructuring program is expected to result in charges totaling between $1,200 million and $1,600 million, before taxes[207]. - The restructuring program aims to achieve annual gross benefits of between $800 million and $1,000 million, before taxes, once fully implemented[208]. Cash Flow and Debt Management - The company had cash and cash equivalents of $3,082 million as of December 31, 2025, compared to $2,921 million at June 30, 2025[297]. - Net cash flows provided by operating activities for the six months ended December 31, 2025, were $785 million, compared to $387 million in the same period of 2024[308]. - Total debt as of December 31, 2025, was $7,322 million, with long-term debt comprising $7,319 million and current debt of $3 million[304]. - Total debt as a percentage of total capitalization was 64.5% at December 31, 2025, down from 65.4% at June 30, 2025[307]. Market Performance - The increase in net sales from La Mer and Estée Lauder was primarily driven by higher sales in Mainland China and Asia travel retail, reflecting key shopping moments and holiday campaigns[218][219]. - Reported net sales in Mainland China increased 13% for the three months ended December 31, 2025, driven by a 9% increase from pricing and a 4% increase from volume[244]. - Operating income in Mainland China increased by $73 million, or 97%, for the three months ended December 31, 2025, and $101 million, or over 100%, for the six months ended December 31, 2025, driven by higher net sales[272].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2025, or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number 0-16125 FASTENAL COMPANY (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorp ...

Washington, D.C. 20549 _________________________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-Q _________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended December 31, 2025 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from _______ to _______ Commission file number 1-12383 _______________________ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of February, 2026 Commission file number: 1-10110 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. (Exact name of Registrant as specified in its charter) BANK BILBAO VIZCAYA ARGENTARIA, S.A. (Translation of Registrant's name into English) Calle Azul, 4 28050 Madrid Spain (Address of principal executive offices) Indica ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: December 28, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-37502 MASTERCRAFT BOAT HOLDINGS, INC. (Exact name of registrant as specified in its charter) (State or Other Jurisdiction (I.R.S. Emplo ...