Corporate Information & Analyst Coverage | Key Management | | | --- | --- | | Andrew Spodek | Chief Executive Officer | | Jeremy Garber | President, Treasurer & Secretary | | Steve Bakke | Chief Financial Officer | | Board of Directors | Board Responsibilities | | Patrick Donahoe | Chair of the Board, Member - Audit Committee | | Andrew Spodek | Chief Executive Officer, Director | | Barry Lefkowitz | Chair of Audit Committee, Member - Corporate Governance & Compensation Committee | | Anton Feingold | Chair ...

Adjusted EBITDA is a supplemental non-GAAP (as defined below) financial measure that is used by management and external users of our financial statements, such as industry analysts, investors, lenders and rating agencies. Viper defines Adjusted EBITDA as net income (loss) attributable to the Company, plus net income (loss) attributable to non-controlling interest ("net income (loss)") before interest expense, net, non-cash share-based compensation expense, depletion, impairment, non-cash (gain) loss on deri ...

February 24, 2026 Fourth Quarter 2025 Earnings Conference Call Forward-Looking Statements This presentation contains forward-looking statements that involve risks, uncertainties and assumptions that could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, an ...

MIDLAND, Texas, Feb. 23, 2026 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback,” “we,” “our” or the “Company”) today announced financial and operating results for the fourth quarter and full year ended December 31, 2025. FOURTH QUARTER 2025 HIGHLIGHTS Average oil production of 512.8 MBO/d (969.1 MBOE/d)Net cash provided by operating activities of $2.3 billion; Operating Cash Flow Before Working Capital Changes1 of $1.9 billionCash capital expenditures of $943 millionFree Cash Flow1 ...

MIDLAND, Texas, Feb. 23, 2026 (GLOBE NEWSWIRE) -- Viper Energy, Inc. (NASDAQ:VNOM) (“Viper,” “we,” “our” or the “Company”), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”), today announced financial and operating results for the fourth quarter and full year ended December 31, 2025. FOURTH QUARTER HIGHLIGHTS Q4 2025 average production of 66,413 bo/d (134,000 boe/d)Q4 2025 consolidated net loss (including non-controlling interest) of $246 million; net loss attributable to Viper of $103 ...

CALGARY, Alberta, Feb. 19, 2026 (GLOBE NEWSWIRE) -- Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to announce the closing of its previously announced acquisition of operated, oil-weighted Cardium assets in the Harmattan area of Alberta (the “Acquisition”), the closing of its associated equity financings, and the approval of its 2026 capital budget and guidance. CLOSING OF HARMATTAN ACQUISITION Petrus is pleased to announce the closing of its previously announced Acquisition of oil- ...

Core Insights - Olin Corporation reported a net loss of $85.7 million for Q4 2025, a significant decline from a net income of $10.7 million in Q4 2024, reflecting ongoing market challenges and operational disruptions [1][2] - The company's adjusted EBITDA for Q4 2025 was $67.7 million, down from $193.4 million in Q4 2024, indicating a substantial decrease in operational profitability [1][27] - Total sales for Q4 2025 were $1,665.1 million, slightly lower than $1,671.3 million in Q4 2024, showing a stable revenue stream despite adverse conditions [1][21] Financial Performance - The full year 2025 reported a net loss of $42.8 million, compared to a net income of $108.6 million in 2024, highlighting a year-over-year decline in profitability [1][21] - Operating cash flow for Q4 2025 was $321.2 million, demonstrating effective cash generation despite the net loss [2] - The company ended 2025 with net debt of approximately $2.7 billion, maintaining a net debt to adjusted EBITDA ratio of 4.1 times, indicating a stable leverage position [12][32] Segment Performance - Chlor Alkali Products and Vinyls segment reported sales of $856.4 million in Q4 2025, down from $953.7 million in Q4 2024, primarily due to lower pricing [6][7] - The Epoxy segment saw sales increase to $359.3 million in Q4 2025 from $282.2 million in Q4 2024, driven by higher volumes, although it still reported a segment loss of $19.2 million [8] - Winchester segment sales were $449.4 million in Q4 2025, up from $435.4 million in Q4 2024, with military sales offsetting declines in commercial ammunition [9] Strategic Initiatives - The company is focused on its "Optimize the Core" strategic priorities, which include enhancing operational reliability and achieving structural cost reductions through the Beyond250 initiative, which has already realized $44 million in cost savings in 2025 [2][3] - Olin plans to close its epoxy resin manufacturing facility in Guarujá, Brazil, in Q1 2026, expecting to achieve annual structural cost savings of approximately $10 million [11] - The company anticipates that its Epoxy business will return to profitability in 2026, supported by new supply agreements and ongoing cost reduction efforts [3]

Core Insights - Eagle Materials Inc. reported strong financial results for the third quarter of fiscal 2026, with revenue of $556 million, adjusted EBITDA of $190.1 million, and earnings per share (EPS) of $3.22, despite challenges in the residential construction market [1][2]. Financial Performance - Revenue for the third quarter increased by 11% in the Heavy Materials sector to $390.2 million, driven by higher sales volumes of Cement and Aggregates [1]. - Cement sales volume rose by 9% to 1.9 million tons, while organic Aggregates sales volume surged by 34% [1][2]. - Light Materials sector revenue decreased by 16% to $203.5 million, attributed to lower sales volumes and prices of Gypsum Wallboard and Recycled Paperboard [1][2]. Capital Structure and Shareholder Returns - The company issued $750 million in 10-year senior notes at a 5.00% interest rate, enhancing liquidity and extending debt maturity [1]. - Nearly $150 million was returned to shareholders through dividends and share repurchases, with approximately 648,000 shares repurchased [1][2]. Operational Efficiency and Investments - Eagle Materials is investing in modernizing its Cement and Gypsum Wallboard plants to improve operational efficiency and lower costs [1]. - The company reported a net leverage ratio of 1.8x, indicating substantial financial flexibility for future growth [1][2]. Segment Analysis - Heavy Materials segment operating earnings increased by 9% to $92.7 million, reflecting strong demand for Cement and Aggregates [1]. - Light Materials segment operating earnings decreased by 25% to $72.6 million due to lower sales volumes and pricing pressures [1][2]. Market Position - The company maintains a strong market position supported by federal, state, and local spending on public infrastructure projects, which has bolstered demand for its Heavy construction products [1][2].

Core Insights - Kinder Morgan, Inc. (KMI) utilizes Adjusted Net Income as a supplemental measure to provide insights into its operational performance and earnings generation capabilities [1] - Adjusted Net Income Attributable to Common Stock is calculated to allow for the determination of Adjusted EPS, which is essential for evaluating per-share performance [2] - Adjusted Segment EBDA is a key performance metric that helps management and investors understand segment contributions and performance trends [3] - Adjusted EBITDA is a critical measure for assessing leverage and comparing valuations across the industry [4] - Net Debt is calculated to evaluate leverage and is used in conjunction with Adjusted EBITDA for performance targets [7] - Free Cash Flow (FCF) is an important metric for understanding cash flow generation and leverage [9] Financial Metrics - Adjusted Net Income Attributable to Kinder Morgan, Inc. is derived from net income adjusted for certain items, providing a clearer view of ongoing operations [1] - Adjusted EPS is calculated from Adjusted Net Income Attributable to Common Stock divided by weighted average shares outstanding, reflecting per-share performance [2] - Adjusted Segment EBDA is calculated by adjusting segment earnings for certain items, providing insights into segment performance and management [3] - Adjusted EBITDA includes adjustments for DD&A, income tax expense, and interest, and is used to evaluate leverage [4] - Net Debt is determined by subtracting cash and equivalents from total debt, providing a measure of financial leverage [7] - FCF is calculated by reducing cash flow from operations for capital expenditures, offering insights into cash generation after dividends [9] Joint Ventures - Amounts associated with Joint Ventures are included in Adjusted EBITDA calculations, reflecting the performance of both consolidated and unconsolidated JVs [5][6] - Adjusted EBITDA for JVs includes similar adjustments as those for wholly-owned subsidiaries, but excludes non-controlling interests [6] Project Evaluation - Project EBITDA is calculated for individual capital projects, providing a basis for evaluating return on investment before uncontrollable expenses [8]

Core Viewpoint - Morrisons reported a £381 million loss for the last year, primarily due to high borrowing costs and reduced consumer spending [1][2]. Financial Performance - The company's debt interest bill reached £281 million in 2025, hindering profitability efforts [2]. - Net debt decreased to £3.1 billion from £3.5 billion over the summer, marking a £33 million improvement year-on-year [3]. - Adjusted earnings, excluding interest costs and tax, amounted to £835 million [3]. - Yearly revenues increased by 3.2% to £15.8 billion, although like-for-like sales fell by 2.4% in the last three months of the financial year [7]. Market Position and Competition - Morrisons is facing challenges from competitors, with Lidl gaining market share, holding 8.1% compared to Morrisons' 8.3% as of November [11]. - The company is at risk of losing its position as the fifth largest supermarket in Britain [11]. Consumer Trends - The customer base is shifting, with more pensioners and less affluent shoppers, making them more sensitive to price changes [8]. - The overall grocery market has been declining towards the end of the financial year, influenced by inflation and budget uncertainties [7]. Management Commentary - The CEO described the period as "challenging" and urged the government to avoid imposing additional costs on retailers to help maintain lower prices [6][9][10]. - The company is focusing on addressing pricing, promotions, loyalty, and availability to improve its market position [12].