Sempra (NYSE:SRE) Q4 2025 Earnings call February 26, 2026 12:00 PM ET Company Participants Allen Nye - CEO Jeff Martin - Chairman and CEO Karen Sedgwick - EVP and CFO Louise Bick - VP of Investor Relations Shar Pourreza - Managing Director and Head of North American Power, Infrastructure and Utilities Conference Call Participants Aidan Kelly - Equity Research Analyst Anthony Crowdell - Managing Director and Senior Equity Research Analyst Carly Davenport - VP and Equity Research Analyst David Arcaro - Execut ...

Financial Data and Key Metrics Changes - DXP sales grew 11.9% to $2 billion in fiscal 2025, with gross profit margins expanding 67 basis points to 31.5% [5][12] - Adjusted EBITDA reached a record $225.3 million, with an 11.2% margin, marking the first year of sustained 11%+ adjusted EBITDA margins [16][27] - Operating income increased 21.7% year-over-year to $176.9 million, and diluted earnings per share improved to $5.37, up from $4.22 in fiscal 2024 [5][27] Business Line Data and Key Metrics Changes - Innovative Pumping Solutions (IPS) sales grew 26.4% year-over-year to $390.3 million, driven by strength in energy and water-related project activity [9][19] - Service Centers delivered 11% total sales growth, including 9.8% organic growth, supported by diverse end markets [11][19] - Supply Chain Services experienced a modest decline of 1.4% year-over-year due to reduced activity at certain energy-related sites [12][22] Market Data and Key Metrics Changes - Energy represented 22% of DXP sales, followed by water and wastewater at 15%, general industry at 15%, chemical at 10%, and food and beverage at 7% [6][12] - Geographic regions with notable sales growth included Ohio River Valley, Southeast, Texas Gulf Coast, and California [12][21] Company Strategy and Development Direction - The company focuses on diversification of end market exposure while building scale in markets with a strong competitive position [6][14] - DXP completed 6 acquisitions in 2025, strengthening capabilities and expanding reach, while also executing a share repurchase program returning $17 million to shareholders [9][35] - The company aims to maintain margin discipline while driving organic growth and executing strategic acquisitions [14][30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about demand across energy, water, and industrial markets, while remaining mindful of inflation dynamics and supply chain variability [14][30] - The company anticipates continued growth in 2026, with a focus on maintaining operational efficiency and leveraging recent acquisitions [14][30] Other Important Information - DXP generated $94.3 million in cash from operating activities, translating into $54 million of free cash flow during fiscal 2025 [13][32] - The company successfully refinanced its debt, improving flexibility and positioning for growth and acquisitions [9][30] Q&A Session Summary Question: Can you share daily sales trends by month for Q4 and Q1 thus far? - In Q4, daily sales were $7.5 million in October, $8.2 million in November, and $9.8 million in December, averaging $8.5 million per day [37] - January's daily sales were $6.9 million, typically the slowest month of the year [38] Question: Will there be a meaningful margin difference comparing Q4 with Q1? - Management indicated that water continues to be accretive to margins, and recent acquisitions should positively impact Q1 margins [40] Question: What are the positive dynamics developing in energy for the second half of the year? - Management noted a decline in Q4 energy-related backlog but observed increased quoting activity, suggesting potential for back-end weighted growth in 2026 [46][47]

Cheniere Energy (NYSE:LNG) Q4 2025 Earnings call February 26, 2026 11:00 AM ET Company ParticipantsAnatol Feygin - EVP and Chief Commercial OfficerJack Fusco - President and CEOJason Gabelman - Managing Director and Energy Equity ResearchJean Ann Salisbury - Managing DirectorJohn Mackay - VP of Equity ResearchMichael Blum - Managing DirectorRandy Bhatia - VP of Investor RelationsSpiro Dounis - DirectorZach Davis - EVP and CFOConference Call ParticipantsJeremy Tonet - Managing Director and Senior Equity Rese ...

Cheniere Energy (NYSE:LNG) Q4 2025 Earnings call February 26, 2026 11:00 AM ET Company ParticipantsAnatol Feygin - EVP and Chief Commercial OfficerJack Fusco - President and CEOJason Gabelman - Managing Director and Energy Equity ResearchJean Ann Salisbury - Managing DirectorJohn Mackay - VP of Equity ResearchMichael Blum - Managing DirectorRandy Bhatia - VP of Investor RelationsSpiro Dounis - DirectorZach Davis - EVP and CFOConference Call ParticipantsJeremy Tonet - Managing Director and Senior Equity Rese ...

The Marcus (NYSE:MCS) Q4 2025 Earnings call February 26, 2026 11:00 AM ET Company ParticipantsChad Paris - CFO and TreasurerDrew Crum - MD and Equity ResearchGreg Marcus - Chairman, President, and CEOConference Call ParticipantsEric Wald - Equity Research AnalystMike Hickey - Senior Equity Research AnalystPatrick Sholl - VP, Research AnalystOperatorGood morning, everyone, and welcome to Marcus Corporation's fourth quarter earnings conference call. My name is Drew, and I will be your operator for today. At t ...

Financial Performance - For Q4 2025, the company reported a net income of $65.2 million and an adjusted net income of $74.5 million, translating to an adjusted EPS of $0.16 [4] - Adjusted EBITDA was $126.4 million, indicating strong cash generation capacity [4] - The company repurchased 1.2 million shares for $22.7 million during Q4, with a total of approximately 1.9 million shares repurchased year-to-date for $37.9 million [4][5] - A dividend of $0.37 per share was declared for Q4, payable on March 19, 2026 [5] Capital Allocation and Financial Position - Total cash and cash equivalents stood at approximately $459 million, with outstanding debt around $1 billion [5] - The company has an undrawn revolving credit capacity of $110 million and 27 debt-free vessels valued at approximately $630 million [5] - The company plans to distribute 100% of its free cash flow while maintaining a minimum cash balance of $2.1 million per vessel and a minimum quarterly dividend of $0.05 per share [6][7] Operational Performance - Daily operating expenses for Q4 were $5,045 per vessel, with net cash G&A at $1,399 per vessel, both among the lowest in the peer group [14] - The fleet consists of 141 vessels with an average age of approximately 12.1 years, and the company continues to optimize its fleet through selective disposals [16][17] Market and Industry Outlook - The dry bulk trade grew by 1.3% in volume and 2.1% in ton-miles during 2025, driven by strong exports from Brazil and a recovery in iron ore and coal volumes [25] - For 2026, dry bulk demand is projected to grow by 0.6% in tons and 1.9% in ton-miles, supported by a favorable supply backdrop and easing trade tensions [27] - The company anticipates that stricter environmental regulations will continue to support slow steaming and help constrain effective supply [24] Management Commentary - Management expressed confidence in the company's cash flow visibility and commitment to maintaining a competitive capital return profile [8] - The company remains focused on managing its ECO-rated fleet to capitalize on market opportunities and deliver shareholder value [32] Q&A Session Summary Question: Inquiry about underlying demand and ton-mile expansion in the iron ore market - Management noted that besides bauxite and iron ore, strong trade in grains is expected to increase ton-miles due to exports from Brazil [36] Question: Follow-up on congestion in West Africa and infrastructure projects - Management acknowledged short-term congestion increases but expects gradual alleviation as infrastructure improves over the coming years [39] Question: Details on capital return policy and dividend payout - Management indicated that stronger share performance incentivizes dividend payments over share repurchases [43]

Cheniere Energy (NYSE:LNG) Q4 2025 Earnings call February 26, 2026 11:00 AM ET Speaker7Good day. Welcome to the Cheniere Energy Fourth Quarter and Full Year 2025 conference call. Today's conference is being recorded. At this time, I'd like to turn the conference over to Randy Bhatia. Please go ahead.Speaker8Thanks, operator. Good morning, everyone, and welcome to Cheniere's fourth quarter and full year 2025 earnings conference call. The slide presentation and access to the webcast for today's call are avail ...

The Marcus (NYSE:MCS) Q4 2025 Earnings call February 26, 2026 11:00 AM ET Speaker5Good morning, everyone, and welcome to Marcus Corporation's fourth quarter earnings conference call. My name is Drew, and I will be your operator for today. At this time, all participants are in listen-only mode. We will conduct a question and answer session towards the end of the conference. If at any time during the call you require assistance, please press star zero, and an operator will be happy to assist you. As a reminde ...

Permian Resources (NYSE:PR) Q4 2025 Earnings call February 26, 2026 10:00 AM ET Company ParticipantsDerrick Whitfield - Md and Head of Energy Equity ResearchGuy Oliphint - EVP and CFOHays Mabry - VP of Investor RelationsJames Walter - Co-CEO and DirectorJohn Freeman - Md and the Head of Energy ResearchJosh Silverstein - Md and the Head of Energy ResearchKevin MacCurdy - Md and Director of Upstream ResearchNeil Mehta - Md and the Head of Americas Natural Resources Equity ResearchPhillip Jungwirth - MdWill Hi ...

Installed Building Products (NYSE:IBP) Q4 2025 Earnings call February 26, 2026 10:00 AM ET Company ParticipantsBrad Wheeler - COODarren Hicks - VP of Investor RelationsJeff Edwards - Chairman and CEOMichael Miller - CFOConference Call ParticipantsAatish Shah - Equity Research AnalystAdam Baumgarten - VP and Equity Research AnalystCollin Verron - Equity Research AnalystKeith Hughes - Managing Director and Senior Equity Research AnalystKen Zener - Senior Equity Research AnalystMichael Rehaut - Managing Direct ...