Compass Diversified (NYSE:CODI) Q4 2025 Earnings call February 26, 2026 05:00 PM ET Company ParticipantsBen Tapper - VP of Investor RelationsElias Sabo - Partner and CEOLarry Solow - Managing Director and PartnerRobert Dodd - Director of Specialty FinanceStephen Keller - Executive VP and CFOConference Call ParticipantsCris Kennedy - Research AnalystTimothy D'Agostino - Research AnalystOperatorGood afternoon, welcome to Compass Diversified's Fiscal 2025 Fourth Quarter Conference Call. Today's call is being r ...

Shift4 Payments (NYSE:FOUR) Q4 2025 Earnings call February 26, 2026 08:30 AM ET Company ParticipantsChristopher Cruz - CFODominic Ball - VP of Equity ResearchTaylor Lauber - CEOThomas McCrohan - Head of Investor RelationsWill Nance - VPConference Call ParticipantsDan Dolev - Managing Director and Senior Fintech Equity Research AnalystDan Perlin - Managing Director and Senior Equity AnalystDarrin Peller - Managing Director and Senior AnalystTimothy Chiodo - Managing Director and Lead Equity Research AnalystO ...

Nomad Foods (NYSE:NOMD) Q4 2025 Earnings call February 26, 2026 06:45 AM ET Company ParticipantsDominic Brisby - CEOJason English - Head of Investor Relations and Corporate StrategyRuben Baldew - CFOJason EnglishHello, welcome to the prerecorded discussion of Nomad Foods' fourth quarter 2025 earnings results. We have posted the company press release and investor presentation on Nomad Foods' website at nomadfoods.com. I am Jason English, Head of Investor Relations and Corporate Strategy, and I'm joined by Do ...

Investor company presentation February 2026 Forward-looking statements The information in this presentation contains certain "forward-looking statements", relating to the company's business, which can be identified by the use of forward-looking terminology such as "intend", "estimates", "believes", "expects", "may", "are expected to", "will", "will continue", "should", "would be", "seeks", "pending" or "anticipates" or similar expressions, or by discussions of strategy, plans or intentions. Such statements ...

Core Insights - The session aims to provide an in-depth look at the company's strategy, portfolio, and long-term opportunities [2] - The leadership team will share updates on commercial execution, pipeline progress, and operational priorities [2] - External experts will offer insights into the evolving market landscape and unmet needs in the company's therapeutic focus areas [2] Company Operations - Transparency and disciplined execution are fundamental to the company's operations as a public entity [3] - The objective is to provide a clear view of the company's current status and approach to value creation [3] - The company is focused on positioning itself for sustainable growth [3]

Micro efforts and macro impact. Lemon squeezed. Ice in the cup.Will anyone notice. Will they stop. The table was shaky.My hands were sticky from lemons. The ice cracked in the cups while I stood there in the hot sun waiting. The cars passed by one after another.At first, no one stopped. I stood there anyway. I kept adjusting the cups, wiping my hands on my shirt, and looking up every time a car slowed down.The sign was imperfect. The lemonade wasn't fancy. The table wobbled every time the wind blew.Then som ...

Group 1 - The article emphasizes the importance of quantitative research, financial modeling, and risk management in equity valuation and market trends to identify high-growth investment opportunities [1] - It highlights the experience of the analyst, including a background as a Vice President at Barclays, focusing on model validation, stress testing, and regulatory finance [1] - The collaboration between the analyst and their research partner aims to deliver high-quality, data-driven insights by combining complementary strengths [1] Group 2 - The approach taken by the analyst includes rigorous risk management and a long-term perspective on value creation, with a focus on macroeconomic trends, corporate earnings, and financial statement analysis [1] - The goal is to provide actionable ideas for investors looking to outperform the market [1]

Manjeshwar holds a B.E. in Electronics from the University of Mumbai, a M.S. in Computer Science from James Madison University, and an M.B.A. from Georgetown University's McDonough School of Business. About UGI Corporation UGI Corporation (NYSE: UGI) is a distributor and marketer of energy products and services in the U.S. and Europe. UGI offers safe, reliable, affordable, and sustainable energy solutions to customers through its subsidiaries, which provide natural gas transmission and distribution, electri ...

Financial Data and Key Metrics Changes - In 2025, the company achieved operating income of $1.5 billion and net income of $1.2 billion, equating to $7.99 per diluted share [18] - Cash flow from operations was $1.4 billion, with liquidity remaining strong at over $2.2 billion [19] - For Q4 2025, net income was $266 million, or $1.82 per diluted share, with revenue at $4.4 billion and operating income at $310 million, lower than the previous quarter due to reduced pricing and volume [19][20] Business Line Data and Key Metrics Changes - Steel operations generated operating income of $1.4 billion in 2025, down from $1.6 billion in the prior year, despite record steel shipments of 13.7 million tons [20] - Operating income from mills recycling operations was $97 million, nearly 30% higher than 2024, while Q4 operating income declined by $13 million due to lower pricing and shipments [21] - Steel fabrication platform earnings were $407 million for the year, lower than the previous year, but Q4 saw operating income of $91 million with solid demand for steel joists and deck [22] Market Data and Key Metrics Changes - The domestic steel industry operated at a production utilization rate of 77%, while the company's mills operated at 86%, indicating a competitive advantage [29] - The automotive production estimates for 2026 are expected to remain similar to 2025, with dealer inventories declining further [30] - Non-residential construction is anticipated to benefit from ongoing onshoring activity and infrastructure spending [30] Company Strategy and Development Direction - The company focuses on strategic organic investments in steel and aluminum products, with a disciplined capital allocation strategy aimed at high-return growth [9][25] - The proposed acquisition of BlueScope is seen as a strategic move to unlock value in North American assets, although the offer was rejected by BlueScope's board [10][11] - The company emphasizes a commitment to maintaining investment-grade credit metrics while pursuing growth opportunities [25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding demand for diversified value-added steel products, supported by stable demand and lower imports [30] - The company is excited about the operational and commercial progress in aluminum, with expectations of reaching 90% utilization by the end of 2026 [46] - Management highlighted the importance of maintaining a strong safety culture and operational execution as key drivers of success [8] Other Important Information - The company issued $800 million in investment-grade unsecured notes to redeem existing notes and for general corporate purposes [24] - Capital investments for 2026 are projected to be around $600 million, with a focus on high-return growth opportunities [24] - The company has a robust pipeline for growth investments, with a track record of delivering profitable growth [16] Q&A Session Summary Question: What is the expected utilization rate for the aluminum rolling mill by the end of 2026? - Management confirmed that the mill is expected to reach 90% utilization by the end of 2026, which is sooner than previously anticipated [46] Question: How should profitability be viewed over the next few quarters given the current aluminum environment? - Management expects the positive EBITDA profile to continue through the year, with improvements anticipated in the second half related to product mix optimization [47][48] Question: What is the company's comfort level regarding potential debt for acquisitions or investments? - Management indicated that the balance sheet has considerable capacity, with a commitment to remain under a 2x net leverage basis [53][54] Question: Can you provide an update on the Sinton facility and any impacts from recent outages? - Management reported a transformer failure at Sinton but confirmed that operations resumed shortly after and that there are no ongoing concerns [64] Question: How are energy costs being managed given recent fluctuations? - Management stated that energy costs represent about 10% of production costs, and they have unique contracts to mitigate impacts from fluctuations [88][89]

Financial Data and Key Metrics Changes - In 2025, the company achieved operating income of $1.5 billion and net income of $1.2 billion, equating to $7.99 per diluted share [18] - Cash flow from operations was $1.4 billion, with liquidity remaining strong at over $2.2 billion [19] - For Q4 2025, net income was $266 million, or $1.82 per diluted share, with revenue at $4.4 billion and operating income at $310 million, lower than the previous quarter due to lower pricing and volume [19][20] Business Line Data and Key Metrics Changes - Steel operations generated operating income of $1.4 billion in 2025, down from $1.6 billion in the prior year, despite record steel shipments of 13.7 million tons [20] - Operating income from mills recycling operations was $97 million, nearly 30% higher than 2024, while Q4 operating income declined by $13 million due to lower pricing and shipments [21] - Steel fabrication platform earnings were $407 million for the year, lower than the previous year, but Q4 operating income was $91 million, indicating a solid demand for steel joists and deck [22] Market Data and Key Metrics Changes - The domestic steel industry operated at an estimated production utilization rate of 77%, while the company's steel mills operated at 86%, indicating a competitive advantage [29] - The automotive production estimates for 2026 are expected to remain similar to 2025, with dealer inventories declining further [30] - Non-residential construction is anticipated to benefit from ongoing onshoring activity and infrastructure spending, contributing to demand for diversified value-added steel products [30] Company Strategy and Development Direction - The company focuses on strategic organic investments in steel and aluminum products, with a disciplined capital allocation strategy aimed at high-return growth [9][25] - The proposed acquisition of BlueScope is seen as a strategic move to unlock value in North American assets, although the offer was rejected by BlueScope's board [10][11] - The company emphasizes a commitment to maintaining investment-grade credit metrics while pursuing growth opportunities [25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding demand for diversified value-added steel products, supported by stable demand and lower imports [30] - The company is excited about the operational and commercial progress in aluminum, with expectations of reaching 90% utilization by the end of 2026 [45] - The management highlighted a significant domestic supply deficit for aluminum sheet, which is expected to grow, providing a favorable market environment [33] Other Important Information - The company issued $800 million in investment-grade unsecured notes to redeem existing notes and for general corporate purposes [24] - In 2025, the company repurchased $900 million of its common stock, reflecting confidence in its capital foundation and cash flow generation capabilities [25] - The company has a robust pipeline for growth investments, with a projected future through-cycle EBITDA contribution of over $1.4 billion from recent projects [40] Q&A Session Summary Question: Update on aluminum rolling mill utilization - The aluminum rolling mill is expected to reach 90% utilization by the end of 2026, with positive EBITDA anticipated to continue through the year [45][46] Question: Investment capacity and balance sheet comfort level - The company maintains a balance sheet with considerable capacity, aiming to remain under a 2x net leverage ratio [51][52] Question: Status of Sinton facility and recent transformer incident - A transformer failure occurred at the Sinton facility, but operations resumed shortly after, with no ongoing concerns expected [61] Question: Impact of outages on shipment profile - The company had planned maintenance outages in Q4, but no significant outages are expected in Q1 [75] Question: Energy cost considerations - Energy costs are approximately 10% of production costs, and the company has unique contracts to manage fluctuations effectively [87]