The E.W. Scripps Company (NasdaqGS:SSP) Q4 2025 Earnings call February 26, 2026 09:00 AM ET Company ParticipantsAdam Symson - President and CEOCarolyn Micheli - Head of Investor RelationsCraig Huber - CEO and FounderJason Combs - CFOConference Call ParticipantsDaniel Kurnos - Senior Research AnalystKen Silver - AnalystMichael Kupinski - AnalystShanna Qiu - High Yield Credit Research Senior AnalystSteven Cahall - Managing Director and Senior Equity Research AnalystOperatorThank you for standing by, welcome t ...

The E.W. Scripps Company (NasdaqGS:SSP) Q4 2025 Earnings call February 26, 2026 09:00 AM ET Company ParticipantsAdam Symson - President and CEOCarolyn Micheli - Head of Investor RelationsCraig Huber - CEO and FounderJason Combs - CFOConference Call ParticipantsDaniel Kurnos - Senior Research AnalystKen Silver - AnalystMichael Kupinski - AnalystShanna Qiu - High Yield Credit Research Senior AnalystSteven Cahall - Managing Director and Senior Equity Research AnalystOperatorThank you for standing by, welcome t ...

Financial Data and Key Metrics Changes - Total ACV grew 17% year-over-year, as reported, and 14% in constant currency, exceeding guidance [7] - Pega Cloud ACV increased 33% year-over-year as reported, and 28% in constant currency, a significant acceleration from last year's growth [7][10] - Free cash flow rose 45% year-over-year to $491 million, surpassing guidance by $51 million [10] - Contractually committed backlog grew 28% year-over-year, exceeding $2 billion for the first time in Pega's history [11] Business Line Data and Key Metrics Changes - Pega Cloud backlog now represents 74% of total backlog, indicating strong growth in cloud services [12] - Net new ACV increased by 37% year-over-year in constant currency, driven by strong demand for Pega's Predictable AI agents [9] Market Data and Key Metrics Changes - The company reported a strong demand for its services, particularly in the context of digital transformation and legacy system modernization [43][66] - The competitive landscape is shifting, with a focus on AI and automation, which Pega is well-positioned to leverage [19][86] Company Strategy and Development Direction - Pega's strategy emphasizes a cloud-first approach and the integration of AI into its platform, particularly through the Blueprint experiential sales approach [8][10] - The company aims to achieve $2 billion in total revenue for 2026, marking a significant milestone [12] - Pega is focused on organic growth, product innovation, and maintaining a strong balance sheet while returning capital to shareholders [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the durability of ACV growth due to Pega's deep integration into clients' core operations [9] - The company anticipates continued growth in Pega Cloud revenue, expected to accelerate above 30% in 2026 [15] - Management highlighted the importance of transforming customer engagement from experimentation to execution [37] Other Important Information - Pega achieved ISO 42001 certification across its cloud services and AI solutions, enhancing its compliance credibility [9] - The company is actively working on app modernization, leveraging partnerships with firms like Accenture and AWS [66] Q&A Session Summary Question: What is the current deal environment and macroeconomic outlook? - Management noted that the Blueprint approach reduces friction in client engagement, leading to an exciting pipeline [41] Question: What gives confidence in achieving the 15% ACV growth target? - Management highlighted an expanding net retention rate and successful targeting of new logos as key factors [46] Question: How is Blueprint impacting sales cycles and deployment times? - Early signs indicate faster pipeline build and progression, with a significant reduction in training time for new staff [58][61] Question: What is the status of app modernization efforts? - Management reported strong interest from clients in app modernization, with capabilities to modernize both legacy and old Pega systems [66] Question: How is the partnership with AWS evolving? - The partnership focuses on transforming legacy workflows using Blueprint, aligning both companies' selling strategies [78]

Financial Data and Key Metrics Changes - Total Annual Contract Value (ACV) grew 17% year-over-year, with a 14% increase in constant currency, surpassing guidance [5][10] - Pega Cloud ACV increased by 33% year-over-year as reported, and 28% in constant currency, significantly up from last year's growth of 18% as reported and 21% in constant currency [5][10] - Free cash flow rose 45% year-over-year to $491 million, exceeding guidance by $51 million [8][10] - Contractually committed backlog grew 28% year-over-year, now exceeding $2 billion for the first time in Pega's history [9][10] Business Line Data and Key Metrics Changes - Pega Cloud backlog represented 74% of total backlog, with a 36% year-over-year increase [9][10] - Net new ACV increased by 37% year-over-year in constant currency, driven by strong demand for Pega's AI agents [7][10] Market Data and Key Metrics Changes - The company noted a strong demand for its AI solutions integrated into enterprise workflows, indicating a positive market response [6][10] - The competitive landscape is shifting, with Pega positioned as a leader in enterprise transformation through its unique offerings [16][20] Company Strategy and Development Direction - The company is focused on a cloud-first strategy and the integration of AI through its Blueprint platform, which has transformed its sales approach [6][10] - Pega aims to achieve $2 billion in total revenue for 2026, marking a significant milestone for the firm [10][11] - The company is committed to disciplined capital allocation, prioritizing organic growth and product innovation [8][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the durability of ACV growth due to the strength of Pega's integration within clients' core operations [7][10] - The company anticipates continued acceleration in Pega Cloud revenue, projecting growth above 30% in 2026 [13][10] - Management highlighted the importance of transitioning from experimentation to execution in leveraging AI for business transformation [36][10] Other Important Information - The Supreme Court of Virginia affirmed a verdict that eliminated a $2 billion liability for the company, positively impacting its financial outlook [9][10] - The company has authorized an additional $1 billion in share buyback capacity, reflecting confidence in cash flow durability [11][10] Q&A Session Summary Question: What is the current deal environment and how is it affecting 2026 outlook? - Management noted that the Blueprint approach reduces friction in client engagement, leading to an advanced pipeline [40][41] Question: What gives confidence in achieving the 15% ACV growth target? - The company highlighted consistent growth rates and an expanding net retention rate, alongside successful targeting of new logos [44][45] Question: How is the app modernization journey progressing with Blueprint? - Management indicated significant interest from clients in app modernization, with expectations for success stories to emerge in the near future [66][10] Question: What is the status of the partnership with AWS? - The partnership is aligned on transforming legacy workflows, leveraging both AWS and Pega's tools for effective modernization [77][10]

Group 1 - The core point of the article is that submissions to the ISG Case Study Research Program increased by 35 percent in 2025, indicating a growing demand for enterprise transformation [1] Group 2 - The increase in submissions reflects a significant trend in the industry towards enterprise transformation [1] - The data suggests that organizations are increasingly seeking innovative solutions to enhance their operations and strategies [1] - This growth may signal potential investment opportunities in companies focused on enterprise transformation services [1]

Core Insights - Omnicom has appointed Jantzen Bridges as Global President of Credera, aiming to enhance its enterprise transformation consultancy capabilities, particularly in AI-enabled transformation programs [1][3] - The company is expanding its services to help clients modernize organizations, optimize marketing and sales execution, and drive revenue growth [1][2] Company Overview - Omnicom is recognized as the world's leading marketing and sales company, focusing on intelligent growth through its Connected Capabilities that integrate various agency brands and expertise [6] - Credera, as Omnicom's enterprise transformation consultancy, specializes in designing data, cloud, technology, and operating solutions to enhance marketing and customer experiences [2][5] Leadership and Experience - Jantzen Bridges brings over 20 years of experience in leading high-growth businesses at global consulting firms, having worked with Fortune 500 clients on technology-enabled transformations [3][4] - Her approach emphasizes aligning business strategy, technology, and people to achieve sustained performance and integrated operating models [4][5] Strategic Positioning - Omnicom is positioned to meet the evolving needs of clients who require assistance in redesigning data platforms and technology strategies in an AI-driven environment [3][5] - The appointment of Bridges is seen as a reinforcement of Credera's role as a strategic partner for executives rethinking growth and operations [5]

Core Viewpoint - Marriott International is undergoing a leadership transition with the retirement of two long-time executives and the appointment of three seasoned leaders to enhance its growth strategy across global regions [2][3][15]. Leadership Changes - Liam Brown and Brian King will retire from their roles at the end of March and June 2026, respectively, after decades of service [3][4]. - Satya Anand will take over as Group President for U.S., Canada, and CALA, while Neal Jones will become President of EMEA, and Federico Greppi will lead CALA [3][15]. Contributions of Retiring Leaders - Liam Brown has nearly four decades of experience at Marriott, known for driving strategic growth and strengthening market position, particularly in franchising and brand management [4][5]. - Brian King has a three-decade career marked by transformative growth, including the acquisition of the City Express brand and expansion in the all-inclusive category, enhancing profitability in CALA [5][6]. New Leadership Profiles - Satya Anand, a 37-year veteran, has held various leadership roles and has been instrumental in driving digital transformation and growth in the EMEA region [6][7]. - Neal Jones brings three decades of experience, focusing on commercial strategy and brand positioning in EMEA, overseeing nearly 80 countries and 1,300 properties [9][10]. - Federico Greppi has over 22 years of hospitality experience, with a strong track record in operational and financial performance, and will lead CALA's growth [12][13]. Strategic Focus - The new leadership aims to foster greater alignment and collaboration across the U.S., Canada, and CALA, enhancing operational efficiency and market presence [7][15]. - The appointments are expected to position Marriott for continued growth, with a focus on innovation and strengthening owner relationships [15].

Financial Data and Key Metrics Changes - Reported net sales for Q2 were $4.9 billion, down 7%, with a 6-point headwind from divestitures and acquisitions [23] - Organic net sales decreased by 1%, while organic volume was flat, showing sequential improvement from Q1 [25] - Adjusted operating profit was $848 million, down 20% in constant currency, primarily due to lower volume and higher input costs [24][30] - Adjusted diluted earnings per share totaled $1.10, down 21% in constant currency [24] Business Line Data and Key Metrics Changes - North America Retail organic net sales were down 3%, driven by unfavorable price mix, but organic volume growth modestly outpaced Nielsen measured retail volume growth [25] - North America Pet segment saw a net sales increase of 11%, with organic net sales up 1%, driven by favorable price mix [26] - North America Foodservice organic net sales were flat, with growth in frozen baked goods and cereal offset by a decline in bakery flour [27] - International segment organic net sales increased by 4%, led by growth in Brazil, China, India, and North Asia [28] Market Data and Key Metrics Changes - In North America Retail, the company held or grew pound share in eight of its top 10 U.S. categories [8][25] - The North America Pet segment experienced mid-single-digit growth in cat feeding, while dog feeding results were mixed [16] - The international segment held or grew dollar share in 54% of priority businesses, with strong performance from Häagen-Dazs and Nature Valley [28] Company Strategy and Development Direction - The company is focused on enhancing the "Remarkability" of its brands to restore organic sales growth [3] - Key priorities include returning North America retail to volume growth, accelerating North America pet growth, and driving efficiencies to fund investments [5][6] - The Remarkable Experience Framework guides brand investment decisions, focusing on product, packaging, brand communications, omnichannel execution, and value [6][10] Management's Comments on Operating Environment and Future Outlook - Management noted a change in consumer behavior, with lower and middle-income consumers increasingly making food purchases on promotion [9] - The company remains confident in its strategy to deliver more value to consumers amid economic pressures [10] - Fiscal 2026 guidance was reaffirmed, with expectations for improved organic net sales in the second half [32][33] Other Important Information - The adjusted gross margin was 34.8% of net sales, down 150 basis points due to higher input costs [29] - Capital investments in the first half totaled $253 million, with $659 million paid in dividends [31] Q&A Session Summary Question: What are the expectations for organic net sales in the second half of fiscal 2026? - The company expects improved organic net sales driven by the expanded impact of remarkability investments and favorable trade timing benefits in Q4 [32] Question: How is the company addressing the challenges in the North America Pet segment? - The company is focusing on strengthening the core Blue Buffalo business and driving growth through new product launches like Love Made Fresh [18] Question: What are the anticipated impacts of divestitures on future performance? - The divestitures are expected to continue to pose headwinds, but the company is managing these impacts through strategic investments and operational efficiencies [24][30]

Company Overview - ServiceNow, Inc. is recognized as a leading AI platform for enterprise transformation, showcasing strong execution with a revenue growth of 22.5% in Q2 2025, driven by the adoption of workflow AI and offerings like Now Assist and Pro Plus [2][5] - The company's stock was trading at $822.07 as of December 1st, with trailing and forward P/E ratios of 98.24 and 39.53 respectively [1] Financial Performance - ServiceNow closed 21 large deals involving five or more Now Assist products, indicating robust demand for its AI solutions [2] - AI Pro Plus usage across ITSM, CSM, and HR increased over 50% sequentially, appearing in 18 of the top 20 deals [2] Product Development - The Workflow Data Fabric was featured in 17 major deals, highlighting the company's deep enterprise integration capabilities [3] - New capabilities such as Voice and Web Agents for task automation, Data Explorer for natural-language insights, and AI Lens for intelligent data capture have broadened the platform's reach [4] Strategic Partnerships - ServiceNow's partnerships with major companies like Microsoft and NVIDIA enhance its competitive position and ecosystem strength [4] Market Position and Future Outlook - As AI becomes more integrated into customer workflows, the focus is on maintaining attractive unit economics from AI add-ons and expanding within the existing enterprise base [5] - The company is well-positioned for growth in the 19–24% range as enterprises transition to an "agentic operating system" [5] - The bullish thesis on ServiceNow remains intact, emphasizing the acceleration of AI monetization and product traction [5]

Core Insights - TWFG Insurance has announced significant leadership changes aimed at accelerating growth and enhancing its competitive position in the insurance industry [1] Leadership Appointments - Katherine Nolan has been promoted from Chief Operating Officer to President, bringing over 16 years of experience and a proven track record in operational excellence and expansion [2] - Julie Benes has transitioned from General Counsel to Chief Legal Officer, focusing on legal and compliance matters while driving growth through mergers and acquisitions [3] - Mohan Vijayagopal has been appointed as Chief Technology Officer, leveraging over 20 years of technology leadership to advance TWFG's digital strategies and enterprise transformation [4] Company Vision - The leadership changes are seen as a pivotal moment for TWFG, with the executive management team poised to drive growth and innovation in the insurance sector [5]