Butterfly Network (NYSE:BFLY) Q4 2025 Earnings call February 26, 2026 08:00 AM ET Company ParticipantsJohn Doherty - EVP and CFOJoseph DeVivo - Chairman and CEOJosh Jennings - Managing DirectorConference Call ParticipantsAndrew Brackmann - Equity Research AnalystBen Haynor - Senior Research AnalystChase Knickerbocker - Senior Equity Research AnalystOperatorHello, everyone, thank you for joining the Butterfly Network Inc. Q4 and FY 2025 earnings call. My name is Gabrielle, I will be coordinating your call to ...

新华财经北京2月25日电四大证券报内容精华摘要如下： 中国证券报 ·私募配置聚焦双主线 "弯道位置要控制好重心" 在经历了春节长假的休整之后，2月24日A股市场量价齐升，资金入场意愿较为强烈。与此同时，结构 性分化的暗流也在涌动。油气、有色、化工等资源品板块全线走强，影视院线、AI应用等题材则显著 回调。这种"冰火两重天"的格局，使得A股在马年的平稳开局中暗藏分歧。多家一线私募机构在接受记 者采访时表示，马年A股首日走势验证了节前的乐观预期，但市场主线也在逐步切换，投资者需要 在"科技"与"资源"的双线逻辑中重新校准攻守节奏。 ·多个板块存在结构性机遇公募研判A股市场新叙事 在春节假期后的首个交易日（2月24日），A股走强，多个板块行情火热。多家公募机构在近期发布的 投资展望中表示，在经济温和复苏与产业升级加速的背景下，人工智能、半导体、消费等多个板块均有 结构性机遇。 AI板块是各家公募机构策略会的关注重心。大成基金的基金经理杜聪表示，2026年上半年继续看好AI 产业链表现。一方面，AI模型能力持续突破强化市场信心。另一方面，不同于此前算力独强、应用疲 软的格局，2025年OpenAI等纯AI原生应用AR ...

瑞财经 吴文婷近日，上海朋熙半导体股份有限公司（以下简称"朋熙半导体"）启动IPO。 | 辅导协议签署 2026年2月11日 时 间 | | --- | | 辅 导 机 构 国泰海通证券股份有限公司 | | 律师事务所 国浩律师(上海)事务所 | | 会计师事务所 大信会计师事务所(特殊普通合伙) | 公开资料显示，朋熙半导体于2019年成立 , 由半导体行业工艺及软件精英以及AI、大数据专家组成，专 门服务于半导体行业客户，专注于半导体领域的高端技术发展，在提升制造效率、改善生产良率、精进 工艺流程、优化管理设备零件使用等相关件研发和半导体行业国产化进程推进。 股权方面，彭海荣直接持有公司 46.44%股份，为控股股东。目前，彭泽慧担任公司董事长。 | 辅导对象 | 上海朋熙半导体股份有限公司 | | --- | --- | | 成立日期 | 2019年7月24日 | | 注册资本 | 8,000 万元 法 定 代 表 人 彭泽慧 | | 注册地址 | 中国(上海)自由贸易试验区新金桥路1348号213室 | | 控股股东及 持 股 比 例 | 彭海荣先生,直接持有公司 46. 44%股份 | | 行业分类 ...

Core Insights - The S&P 500 index has remained close to all-time highs in the current year, but the gains are primarily concentrated in specific sectors, particularly semiconductor stocks [1] Group 1: Market Performance - The S&P 500 has shown resilience, maintaining proximity to historical peak levels [1] - Gains within the index are not widespread but are focused on select stocks, indicating a narrow market rally [1] Group 2: Industry Insights - The semiconductor sector is highlighted as a key driver of the current market performance, suggesting strong demand and growth potential in this area [1] - The article references the author's extensive experience in technology and investment, which may provide valuable insights into industry trends [1]

Core Insights - Nordson reported a strong first-quarter performance for fiscal 2026, with record sales of $669 million, reflecting a 9% increase year-over-year and 7% organic growth [4][7] - The company achieved an adjusted operating profit of $166 million, marking a 10% year-over-year increase, while EBITDA rose 8% to a record $203 million, maintaining a 30% margin [1][5] - Management expressed optimism about end market demand trends, particularly in Asia, and raised full-year guidance for sales and adjusted earnings per share [3][16] Financial Performance - First-quarter sales reached $669 million, up from $615 million a year earlier, with a notable 7% organic growth [4][7] - Adjusted earnings per share were $2.37, a 15% increase from $2.06 in the prior-year quarter [8] - Free cash flow was reported at $123 million, with cash conversion exceeding 100% of net income [3][13] Segment Performance - Advanced Technology Solutions (ATS) led growth with sales of $149 million, up 23% year-over-year, driven by semiconductor-related products [6][12] - Industrial Precision Solutions (IPS) reported sales of $327 million, a 9% increase year-over-year, with organic sales up 3% [9] - Medical and Fluid Solutions (MFS) had relatively flat sales at $193 million, with a 3% organic growth, impacted by divestitures and weather-related disruptions [16] Capital Deployment - The company returned capital through $82 million in share repurchases and $46 million in dividends, while maintaining a net debt of approximately $1.9 billion [5][14] - Nordson invested $18 million in capital projects during the quarter and modified its $1.2 billion credit facility [14] Future Outlook - For the second quarter of fiscal 2026, Nordson expects sales between $710 million and $740 million, with adjusted earnings per diluted share of $2.70 to $2.90 [15] - Full-year sales guidance has been raised to a range of $2.86 billion to $2.98 billion, reflecting continued momentum in electronics end markets [16]

Financial Data and Key Metrics Changes - The company achieved record first-quarter sales of $669 million, a 9% increase from $615 million in the prior year, with 7% organic growth [5][8] - Adjusted operating profit rose 10% year-over-year to $166 million, while EBITDA increased by 8% to $203 million, maintaining an EBITDA margin of 30% [9][6] - Free cash flow was $123 million, with a cash flow conversion rate exceeding 100% of net income [7][17] Business Line Data and Key Metrics Changes - **Industrial Precision Solutions (IPS)**: Sales of $327 million, a 9% increase year-over-year, with organic sales up 3% [12] - **Medical and Fluid Solutions (MFS)**: Sales of $193 million, relatively flat compared to the prior year, with organic sales up 3% [13][14] - **Advanced Technology Solutions (ATS)**: Sales increased by 23% to $149 million, with a 21% organic sales increase driven by semiconductor applications [16] Market Data and Key Metrics Changes - Strong demand was noted in Asia across most end markets, particularly in the semiconductor space, contributing to overall organic growth [8][12] - The company reported a favorable currency translation impact of 4% on sales, although this was partially offset by a divestiture [8][9] Company Strategy and Development Direction - The company is focused on maintaining strong EBITDA margins while strategically deploying capital for growth and shareholder returns [18][19] - Investments in semiconductor applications are a key growth driver, with a focus on advanced packaging processes and quality control technologies [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about end market demand trends and noted that while market conditions have improved, vigilance is required for potential downturns [20][24] - The company increased its full-year sales guidance to a range of $2.86 billion to $2.98 billion, reflecting a 4.5% increase at the midpoint [24][25] Other Important Information - The company repurchased $82 million in shares and paid $46 million in dividends during the quarter [18] - The balance sheet remains strong, with a leverage ratio of 2.1 times, allowing for continued strategic capital deployment [17] Q&A Session Summary Question: Can you unpack the margin dynamics around systems and geographic mix? - Management indicated that the primary segment facing mix challenges was IPS, but there has been no fundamental change in the margin outlook [30][31] Question: Can you expand on the slow start in medical and the weather impact? - The weather-related impact was estimated at about 1%, with underlying demand remaining strong and a return to mid-single-digit growth expected [36][38] Question: What are the moving pieces in the ATS segment? - Strong momentum was noted in dispense businesses, with X-ray business starting to recover, and overall confidence in ATS segment growth [46][48] Question: How does FX impact margins across segments? - FX had a positive impact on IPS sales, but the incremental benefit was lower, contributing to performance challenges [79][83] Question: What end markets are expected to outperform base case estimates? - Potential upside is anticipated from further inflection in general industrial and automotive demand, as well as ongoing strength in ATS [92][90]

Nordson (NasdaqGS:NDSN) Q1 2026 Earnings call February 19, 2026 08:30 AM ET Speaker9Hello, everyone. Thank you for joining us, and welcome to the Nordson Corporation First Quarter Fiscal Year 2026 conference call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star one on your telephone keypad. To withdraw your question, press star one again. I will now hand the call over to Lara Mahoney. Please go ahead.Speaker6Thank you. Good m ...

Group 1: Market Overview - The A-share market concluded the Year of the Snake with all major indices showing positive performance, with the ChiNext Index leading at a 58.73% increase [1] - The Shanghai Composite Index rose by 25.58% and the Shenzhen Component Index increased by 38.84% [1] - Daily trading volume in the A-share market has become active, with an average daily turnover of 1.89 trillion yuan, a nearly 70% increase compared to the previous year [1] Group 2: Sector Performance - The semiconductor sector showed resilience, with the first ETF focusing on the Hong Kong chip industry rising nearly 1% [1] - The "All Chip" Sci-Tech Chip ETF and the Sci-Tech Artificial Intelligence ETF both saw price increases of over 1% [1] - The military industry ETFs also performed well, with the Military ETF and General Aviation ETF rising by 0.47% and 0.43%, respectively [2][3] Group 3: Semiconductor Industry Insights - China's semiconductor sales exceeded $200 billion for the first time, with a year-on-year growth rate of over 15% [6] - The global semiconductor market is expected to reach a record $791.7 billion by 2025, driven by strong demand for AI applications and data centers [6] - The Sci-Tech Chip ETF has a significant focus on semiconductor materials and equipment, with over 90% of its weight in core areas like integrated circuits and semiconductor equipment [6] Group 4: AI and Technology Developments - The AI sector is experiencing rapid advancements, with new models being launched and significant investments from tech giants [11] - The domestic AI industry is expected to see a surge in demand, supported by government initiatives and increasing application scenarios [11] - The Sci-Tech Artificial Intelligence ETF has a strong focus on domestic AI supply chains, with nearly half of its weight in semiconductor stocks [11] Group 5: Consumer Sector Performance - The food and beverage sector demonstrated resilience, with the Food and Beverage ETF showing strong performance despite market fluctuations [13] - The price of Moutai liquor has approached 1,800 yuan per bottle, reflecting strong demand as the Spring Festival approaches [15] - The food and beverage sector is considered a key area for investment, especially as valuations are at historical lows, making it an attractive entry point [16]

Group 1 - The core viewpoint of the news highlights the strong performance of the semiconductor sector, particularly the "Chip Innovation" ETF, which has seen a price increase of over 1% [1] - Shenzhen's Industrial and Information Technology Bureau has issued an action plan to promote the application of artificial intelligence in the semiconductor industry, aiming to enhance efficiency in chip design and software coding [2] - The semiconductor sales globally have shown a significant year-on-year growth of 37.1% in January 2026, marking 26 consecutive months of positive growth, with DRAM and NAND Flash prices increasing by approximately 39% and 35% respectively [3] Group 2 - The "Chip Innovation" ETF tracks the Shanghai Stock Exchange's semiconductor index, which includes 50 companies across semiconductor materials, equipment, design, manufacturing, and testing, with over 90% weight in core areas like integrated circuits and semiconductor equipment [4] - The industry distribution of the semiconductor index shows that integrated circuits account for 72.77%, semiconductor equipment for 18.20%, and semiconductor materials for 4.11% [5] - The annualized return of the semiconductor index has reached 17.93% since its inception, outperforming similar indices, with a lower maximum drawdown, indicating a better risk-return profile [6]

Financial Data and Key Metrics Changes - Fourth quarter sales were impacted by a quality event with the largest customer, but excluding this event, the company delivered strong financial results with 7% year-on-year organic growth [4][6] - Adjusted EBITDA was $57 million, or 22.5% of Value-Added Sales, down 7% year-over-year but up 170 basis points from a margin perspective [16] - Adjusted earnings per share for the year was $5.44, up 2% compared to the prior year [20] Business Line Data and Key Metrics Changes - Electronic materials experienced a 20% increase in sales, driven by growth in the semiconductor market, marking the strongest sales quarter in nearly three years [6][16] - Precision optics delivered a 26% increase in sales, marking the third consecutive quarter of top-line improvement [8][18] - Performance materials saw a 32% decrease in Value-Added Sales, primarily due to lower Precision Clad Strip sales [16] Market Data and Key Metrics Changes - The semiconductor business saw order rates up 14% year-on-year, excluding China, indicating strong demand [9][54] - The new energy market sales more than doubled year-on-year, reflecting the company's focus on accelerating energy needs [10] - Defense sales surpassed $100 million for the second consecutive year, with a 10% yearly growth since 2020 [10] Company Strategy and Development Direction - The company aims for approximately 15% earnings growth in 2026, supported by new business wins and market recovery [11] - Focus on operational improvements and disciplined cost management to achieve a midterm EBITDA margin target of 23% [12] - Continued investment in capacity expansion, particularly in beryllium, to support long-term growth in defense and energy markets [11][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence entering 2026, citing strong order rates and market dynamics [4][12] - The quality event with the Precision Clad Strip customer was addressed with enhanced quality control measures, ensuring future production meets customer expectations [5][30] - The company anticipates a slower start to 2026 due to normal seasonality and ramping production, but expects sequential earnings growth throughout the year [22][52] Other Important Information - The company completed the acquisition of Conasol's semiconductor manufacturing footprint in Korea, enhancing its position in the semiconductor market [10] - New business bookings reached nearly $140 million, the highest ever, with a $200 million pipeline of new business RFQs [10] Q&A Session Summary Question: Details on the Precision Clad Strip quality issues and customer expectations - Management explained the quality event was due to a control failure in production, which was addressed with a revised quality system and additional resources [28][30] Question: Electronic materials business performance and margin expectations - Management noted that while sequential sales increased, margin performance was affected by mixed factors and one-time items, but overall improvement is expected in 2026 [33][36] Question: Beryllium capacity and strategic mineral reserves - Management confirmed a $65 million investment from a defense prime to expand beryllium capacity, with additional capacity expected by 2028 [41][42] Question: First quarter earnings expectations and China sales stability - Management indicated a slower start to Q1 due to seasonality and ramping production, but expects a 10% increase in earnings compared to last year [52][54] Question: Working capital needs and inventory management - Management acknowledged that growth has led to increased working capital needs, particularly in inventory, but emphasized ongoing initiatives to manage it efficiently [76][79]