Supernus Pharmaceuticals (NasdaqGM:SUPN) Q4 2025 Earnings call February 24, 2026 04:30 PM ET Company ParticipantsJack A. Khattar - President and CEOPeter Vozzo - Managing DirectorTim Dec - CFONone - Company RepresentativeConference Call ParticipantsDavid Amsellem - Managing Director and Senior Research AnalystJon Cox - AnalystKristen Kluska - AnalystPavan Patel - Biopharma Equity Research AnalystStacy Ku - AnalystOperatorGood afternoon. Welcome to Supernus Pharmaceuticals for the quarter and full year 2025 ...

Brady (NYSE:BRC) Q2 2026 Earnings call February 19, 2026 10:30 AM ET Company ParticipantsAnn Thornton - CFOKeith Housum - Managing DirectorRussell Shaller - President and CEOConference Call ParticipantsSteve Ferazani - Equity AnalystOperatorGood day, and thank you for standing by. Welcome to the Brady Corporation Q2 2026 earnings conference call. At this time, all participants are on a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during t ...

Firm to invest Rs 1,000 cr to set up AC mfg unitKey PointsCarrier Air Conditioning and Refrigeration signed a deal to invest around Rs 1,000 crore for a new manufacturing unit at Sri City.Sri City has a total of 10 HVAC manufacturers and around 32 suppliers in its ecosystem.Carrier took just eight months from their first visit to the land handover and project finalisationThe new Carrier facility will come up on 39 acres at Sri CitySo far, Sri City has seen investments to the tune of Rs 12,000 crore from 10 ...

Core Viewpoint - Sanofi has announced a leadership change, appointing Belén Garijo as the new CEO effective April 29, 2026, following the decision not to renew the mandate of current CEO Paul Hudson, which has led to a 4.5% drop in shares on February 12, 2026 [1][7]. Leadership Change - Paul Hudson's last day as CEO will be February 17, 2026, and Olivier Charmeil will serve as interim CEO until Garijo takes over [2]. - Belén Garijo, a Spanish national, previously served as CEO of Merck KGaA and has held roles at Abbott Laboratories and Sanofi [2]. Market Reaction - Investors have reacted negatively to the sudden CEO change, expressing concerns over Garijo's lack of a proven track record in leading large companies [3]. Stock Performance - Over the past six months, Sanofi's shares have declined by 4.1%, contrasting with a 28.4% increase in the industry [4]. Company Challenges - Sanofi is recognized as a major vaccine manufacturer and has a significant immunology drug, Dupixent, expected to generate around €22 billion in sales by 2030 [5]. - The company has faced setbacks in its research and development (R&D) efforts and pipeline innovation, which may have contributed to the decision for a leadership change [8][9]. - Sanofi has lagged in mergers and acquisitions compared to peers, impacting its growth and diversification [9]. Future Focus - Garijo's primary objectives will include enhancing R&D productivity, governance, and innovation, with the potential to turn around the company's fortunes [10].

Core Insights - Astronics Corporation (ATRO) emphasizes research and development (R&D) as a key driver of long-term growth and competitiveness, essential for winning and retaining long-term contracts through technological differentiation [1][4] Demand Conditions - Astronics is benefiting from favorable demand in both defense and commercial aerospace, with rising global defense budgets increasing military aircraft program demand and airlines investing in cabin upgrades due to expanding air travel [2] Financial Performance - Innovation through continuous R&D has led to stronger financial performance, evidenced by backlog growth and stabilizing margins in the Aerospace segment, with R&D expenses reported at $52.1 million in 2024 and $32.8 million in the first nine months of 2025 [3][8] Strategic Importance of R&D - R&D is deemed a strategic necessity for Astronics, driving cost efficiency, pricing power, product differentiation, and margin expansion, thereby positioning the company for sustained long-term value creation [4] Peer Comparison - Other companies like Kratos Defense & Security Solutions (KTOS) and Rocket Lab USA, Inc (RKLB) also prioritize R&D for long-term competitiveness, with Kratos focusing on unmanned systems and Rocket Lab on next-generation launch vehicles [5][6] Stock Performance - Astronics shares have increased by 126.4% over the past six months, outperforming the industry, and the stock is currently trading at a price-to-sales multiple of 2.83, significantly lower than the industry average of 12.48 [7][9] Revenue and Earnings Estimates - The Zacks Consensus Estimate predicts a 12.5% year-over-year increase in revenues for 2026 and a 36.4% increase in earnings, with recent upward adjustments in estimates for the first quarter of 2026 and 2026 earnings [10][11]

Core Insights - Intuitive Surgical (ISRG) achieved a 22% pro forma earnings per share (EPS) growth in 2025, marking its third consecutive year of growth above 20%, driven by strong procedure growth, higher recurring revenue, and disciplined operations [1][11] - The management's outlook for 2026 emphasizes a focus on growth over short-term profitability, with pro forma operating expenses expected to increase by 11-15% to support various investments [2][11] Investment and R&D Focus - A significant portion of the increased spending is directed towards research and development, aimed at enhancing clinical value and expanding the range of robotic procedures over time [3] - The company is scaling its organizational structure and commercial infrastructure, which includes workforce growth in engineering and sales teams, leading to higher costs in 2026 [4][11] Financial Performance and Projections - Operating margins are currently at 37%, providing the company with the capacity to increase near-term spending while maintaining steady procedure growth [5] - The Zacks Consensus Estimate for Intuitive Surgical's 2026 earnings suggests a 12.3% increase compared to the previous year [16] Industry Trends - Other major players in the medical device sector, such as Boston Scientific and McKesson, are also increasing R&D expenses to integrate new technologies, particularly in artificial intelligence, to sustain growth [6] - Boston Scientific reported a 22% year-over-year increase in adjusted EPS for 2025 and anticipates 12-14% EPS growth in 2026, with a focus on reinvestment in clinical programs and R&D [7][8] - McKesson posted a 16% year-over-year EPS growth and raised its fiscal 2026 EPS guidance, indicating a focus on technology and automation investments rather than traditional R&D [9][10]

A version of this article originally appeared in Quartz’s Washington newsletter. Sign up here to get the latest business and economic news and insights from Washington straight to your inbox. Big Tech is a big winner when it comes to President Donald Trump’s tax law that Republicans unilaterally muscled through Congress. Google, Meta, Amazon and Tesla all belong to a cohort of large companies that are slashing their corporate tax bills this year as a result of the GOP tax law. It serves to provide a gli ...

Core Insights - Viking Therapeutics reported a quarterly loss of $1.38 per share, which was higher than the analyst estimate of a loss of 89 cents, indicating a significant miss in earnings expectations [2] - The increase in net loss was primarily attributed to a rise in research and development expenses, which totaled $153.5 million for the fourth quarter, compared to $31 million for the same period in 2024 [2] Group 1: Financial Performance - The increase in research and development expenses was mainly due to costs associated with clinical studies, stock-based compensation, and salaries and benefits, while there was a decrease in manufacturing expenses for drug candidates and preclinical studies [3] - The CEO of Viking, Brian Lian, highlighted that the past year was exceptional for the company, marked by rapid progress in their obesity portfolio [3] Group 2: Stock Performance - Viking Therapeutics stock experienced an increase of 8.58%, reaching a price of $31 during extended trading on Wednesday [4]

Core Insights - Array Technologies (ARRY) emphasizes research and development (R&D) as a key driver of long-term growth and competitiveness in the solar tracking technology sector [1][4] - Continuous R&D investment enhances product performance, efficiency, and reliability, significantly impacting project economics and return on investment [2][4] R&D Focus - Ongoing R&D allows Array Technologies to improve tracker design, materials, and mechanical architecture, leading to higher energy yield and durability [2][3] - The company’s platforms, DuraTrack and OmniTrack, are continually refined to deliver higher output and lower levelized cost of energy (LCOE) [3][8] - R&D is viewed as a strategic necessity, enabling cost efficiency, pricing power, and product differentiation, positioning the company for sustained long-term value creation [4] Competitive Landscape - R&D is critical for peers like Sunrun and First Solar, enhancing their competitiveness and profitability [5][6] - Sunrun focuses on software platforms and storage integration to improve customer value and system performance [5] - First Solar's R&D advances thin-film module efficiency and lowers production costs, reinforcing its technological leadership [6] Financial Performance - Array Technologies' shares have increased by 95% over the past six months, outperforming the industry [7][8] - The stock is currently trading at a price-to-earnings multiple of 12.17, which is lower than the industry average of 18.43, indicating it is undervalued [10] - Consensus estimates for ARRY's 2026 revenues and EPS indicate year-over-year increases, with slight adjustments in recent weeks [12][13]

Financial Data and Key Metrics Changes - Total revenue increased by 8% in 2025, with product revenue growing by 10% driven by global demand for innovative medicines [7][18] - Core EPS grew by 11%, aligning with full-year guidance [18] - Operating profit increased by 9%, with a focus on operating leverage [20] - Cash flow from operating activities rose by 23% to $14.6 billion [21] - Core gross margin landed at 82%, consistent with expectations [18] Business Line Data and Key Metrics Changes - Oncology revenues reached $25.6 billion, up 14% year-on-year, with Tagrisso, Imfinzi, and Enhertu showing significant growth [26][27] - BioPharmaceuticals revenue increased by 5% to $23 billion, with growth medicines outpacing declines from generic competition [40] - Rare Disease revenue grew by 4% to $9.1 billion, driven by demand in neurology indications [52] Market Data and Key Metrics Changes - U.S. market growth was strong at 10%, while emerging markets outside of China saw a remarkable 22% growth [11] - China experienced a 4% growth despite losing Pulmicort to generics, maintaining its position as the largest pharma company in the region [11] - Europe grew by 7%, contributing to overall revenue growth [11] Company Strategy and Development Direction - The company aims to reach 25 blockbusters by 2030, having increased from 12 to 16 blockbusters in 2025 [7][8] - Continued investment in R&D is prioritized to drive growth beyond 2030, focusing on innovative technologies and new medicines [13][24] - The company is enhancing its manufacturing and R&D capabilities in the U.S. and China to support future growth [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the $80 billion revenue target by 2030, supported by a robust pipeline and diverse portfolio [59] - The company anticipates mid- to high-single-digit revenue growth in 2026, despite known headwinds such as patent expirations and market competition [22][23] - Management highlighted the importance of diversification in mitigating risks associated with product concentration [10] Other Important Information - The company confirmed a second interim dividend of $2.17 per share, with plans to increase the annual declared dividend to $3.30 in 2026 [22] - The company has over 100 ongoing phase 3 trials, with significant revenue potential from upcoming readouts [12][21] Q&A Session Summary Question: What are the expectations for oncology growth in 2026? - Oncology is expected to continue strong momentum, with new approvals and combination therapies driving growth [30][31] Question: How is the company addressing the challenges from generics? - The company is focusing on expanding its portfolio and enhancing market share in emerging markets to offset the impact of generics [40][44] Question: What are the key catalysts in the pipeline for 2026? - Key catalysts include several phase 3 readouts for innovative therapies in oncology and rare diseases, which could significantly impact future growth [34][46][50]