Core Insights - Freeport-McMoRan reported $5.63 billion in revenue for Q4 2025, a year-over-year decline of 1.5%, but exceeded the Zacks Consensus Estimate of $5.18 billion by 8.84% [1] - The company achieved an EPS of $0.47, up from $0.31 a year ago, representing a surprise of 67.98% compared to the consensus estimate of $0.28 [1] Financial Performance Metrics - Gold sales on a consolidated basis reached 80.00 Koz, surpassing the average estimate of 55.09 Koz [4] - Total net cash cost per pound of copper was $2.22, lower than the estimated $2.45 [4] - Gold sales in Indonesia were 75.00 Koz, exceeding the average estimate of 49.47 Koz [4] - Copper sales in Indonesia (Grasberg) totaled 112.00 Mlbs, significantly higher than the estimated 20.43 Mlbs [4] - Revenues from Indonesia were reported at $960 million, a decline of 57.3% year-over-year, compared to the average estimate of $303.61 million [4] - Molybdenum revenues were $220 million, a 24.3% increase year-over-year, below the average estimate of $297.1 million [4] - Revenues from South America copper mines reached $1.62 billion, a 34.2% increase year-over-year, exceeding the average estimate of $1.47 billion [4] - North America copper mines generated $2.1 billion in revenue, a 30.4% year-over-year increase, above the average estimate of $1.9 billion [4] - Rod & Refining revenues were $1.77 billion, a 20.9% year-over-year increase, compared to the average estimate of $1.66 billion [4] - Atlantic Copper Smelting & Refining revenues were $820 million, a 20.8% year-over-year increase, exceeding the average estimate of $725.1 million [4] - Corporate, other & eliminations reported a revenue of -$1.86 billion, worse than the average estimate of -$1.39 billion, but a year-over-year change of +12% [4] Stock Performance - Freeport-McMoRan shares returned +16.7% over the past month, outperforming the Zacks S&P 500 composite's +0.7% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Core Insights - Northern Trust Corporation (NTRS) reported a revenue of $2.12 billion for the quarter ended December 2025, marking an 8.3% year-over-year increase and exceeding the Zacks Consensus Estimate of $2.07 billion by 2.41% [1] - The company's earnings per share (EPS) for the same period was $2.69, up from $2.26 a year ago, representing a surprise of 13.44% compared to the consensus estimate of $2.37 [1] Financial Performance Metrics - Tier 1 Leverage Ratio stood at 7.8%, surpassing the four-analyst average estimate of 7.6% [4] - Net interest margin (FTE) was reported at 1.8%, higher than the estimated 1.7% by four analysts [4] - Average balance of total earning assets was $143.04 billion, exceeding the three-analyst average estimate of $142.52 billion [4] - Nonaccrual loans and leases amounted to $76.7 million, compared to the average estimate of $64.77 million based on two analysts [4] Wealth Management and Servicing Fees - Wealth Management Trust, Investment and Other Servicing Fees for Global Family Office reached $107.3 million, slightly below the estimated $107.62 million but reflecting a 6.6% year-over-year increase [4] - Total Wealth Management Trust, Investment and Other Servicing Fees were $577.8 million, compared to the estimated $580.74 million, showing a 5.7% year-over-year increase [4] - Asset Servicing Trust, Investment and Other Servicing Fees for Custody and Fund Administration were $496.4 million, exceeding the average estimate of $488.71 million, with an 8.7% year-over-year change [4] - Total Asset Servicing Trust, Investment and Other Servicing Fees reached $729.6 million, slightly above the estimated $720.83 million, representing an 8% year-over-year increase [4] - Securities Lending fees were reported at $23.1 million, surpassing the average estimate of $21.54 million, with a year-over-year increase of 13.2% [4] - Other Asset Servicing Trust fees were $44.3 million, compared to the estimated $43.18 million, reflecting a 7.3% year-over-year increase [4] - Investment Management fees were $165.8 million, slightly below the estimated $167.41 million, with a year-over-year increase of 5.7% [4] - Net Interest Income (FTE Adjusted) was reported at $654.3 million, exceeding the average estimate of $604.24 million based on four analysts [4] Stock Performance - Shares of Northern Trust have returned +2.6% over the past month, outperforming the Zacks S&P 500 composite's +0.7% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Core Insights - FB Financial reported an EPS of $1.07 and an adjusted EPS of $1.16 for the quarter, with a tangible book value growth of 11.6% since its IPO [5][6] - The company achieved a pretax, pre-provision net revenue of $71.1 million, driven by net interest income of $150.6 million and a net interest margin of 3.98% [5][11] - For the year, FB Financial reported a net income of $122.6 million and an adjusted net income of over $200 million [11] Financial Performance - The company experienced a 29% growth in loans held for investment and a 25% increase in deposits year over year [6][15] - Adjusted returns included a return on average assets of 1.4% and a return on average tangible common equity of 14.4% [6] - Non-interest income improved due to stronger swap fees and investment services revenue [11] Growth Strategy - FB Financial's growth strategy focuses on enhancing customer experience and expanding capabilities through talent acquisition and organizational optimization [7][9] - The company aims to return to a high single-digit growth rate in 2026, despite some underperformance in organic growth during 2025 [15][19] - The management emphasized a strong focus on customer relationships to drive business growth [9][10] M&A and Market Position - FB Financial successfully acquired Southern States Bank, which added approximately 20% to its size [10][11] - The company is open to evaluating additional M&A opportunities, particularly in the Southeastern U.S. and contiguous states [61][62] - Management noted significant market disruption, creating opportunities for growth and talent acquisition [50][52] Expense Management - Non-interest expenses for the quarter were reported at $107.6 million, with merger and integration costs expected to conclude by the end of Q1 2026 [12][19] - The company anticipates banking expenses to be between $325 million and $335 million for the full year 2026 [19] - FB Financial is focused on maintaining operational discipline while being open to strategic investments in talent [38][39] Credit Quality - The provision expense for the quarter was $1.2 million, reflecting low charge-offs and stable credit outlook [13] - The allowance for loan losses settled at $186 million, representing 1.5% of loans held for investment [13] - Non-performing assets increased slightly, but loss content remains low with annualized net charge-offs at only five basis points [13]

Core Viewpoint - Brown-Forman Corporation is facing challenges with declining earnings expectations and stock performance, leading to a cautious outlook from analysts [2][4][5]. Financial Performance - The company is expected to report Q3 2026 earnings of $0.48 per share, a decrease of 15.8% from $0.57 per share in the same quarter last year [2]. - For fiscal 2026, analysts anticipate an EPS of $1.67, reflecting a 9.2% decline from $1.84 in fiscal 2025, but a projected increase to $1.75 in fiscal 2027, indicating a year-over-year growth of nearly 4.8% [3]. Stock Performance - Brown-Forman's stock has declined by 17.1% over the past 52 weeks, underperforming the S&P 500 Index, which rose by 13.7%, and the State Street Consumer Staples Select Sector SPDR ETF, which returned 6.2% [4]. Analyst Ratings - The consensus opinion among analysts is skeptical, with a "Hold" rating overall. Out of 17 analysts, three recommend a "Strong Buy," nine advise a "Hold," one suggests a "Moderate Sell," and four recommend a "Strong Sell" [6]. - The average analyst price target for Brown-Forman is $30.49, suggesting an upside potential of 8.9% from current levels [6]. Recent Developments - On January 16, the stock closed down more than 3% following a downgrade by BNP Paribas analyst Kevin Grundy from "Neutral" to "Underperform," with a revised price target of $24, down from $31, due to structural headwinds in the alcohol industry [5].

Core Viewpoint - Berkshire Hathaway Inc. (BRK.B) is expected to report a decline in earnings per share (EPS) for the fiscal fourth quarter of 2025, reflecting broader challenges in its financial performance [2][3]. Financial Performance - Analysts anticipate BRK.B will report a profit of $4.89 per share on a diluted basis, which is a decrease of 27.3% from $6.73 per share in the same quarter last year [2]. - For the full fiscal year, EPS is projected to be $20.86, down 5.2% from $22 in fiscal 2024, and is expected to decline further to $19.98 in fiscal 2026, representing a year-over-year decrease of 4.2% [3]. Stock Performance - Over the past 52 weeks, BRK.B stock has underperformed the S&P 500 Index, which gained 13.7%, with BRK.B shares only increasing by 3.3% during this period [4]. - The stock also lagged behind the Financial Select Sector SPDR Fund, which saw a gain of 5.6% in the same timeframe [4]. Recent Earnings Report - On November 1, 2025, BRK.B reported its Q3 results, showing a year-over-year EPS increase of 17.2% to $14.28, although its insurance-investment income fell to $3.2 billion, down 13.2% year over year [5]. Analyst Ratings - The consensus opinion on BRK.B stock is moderately bullish, with a "Moderate Buy" rating. Among six analysts, two recommend a "Strong Buy" and four suggest a "Hold" [6]. - The average analyst price target for BRK.B is $537.75, indicating a potential upside of 11.1% from current levels [6].

Core Insights - RLI Corp. reported revenue of $448.73 million for the quarter ended December 2025, reflecting a 2.9% increase year-over-year, while EPS rose to $0.94 from $0.41 in the same quarter last year [1] - The revenue fell short of the Zacks Consensus Estimate of $451.17 million, resulting in a surprise of -0.54%, whereas the EPS exceeded expectations with a surprise of +24.01% against a consensus estimate of $0.76 [1] Financial Performance Metrics - Net operating expenses were reported at 39.3%, higher than the average estimate of 38.4% from five analysts [4] - Net loss and settlement expenses totaled 43.3%, which was lower than the average estimate of 49.8% [4] - Underwriting income (loss) was reported at 82.6%, compared to the average estimate of 87.6% [4] - Net premiums earned reached $406.4 million, slightly above the average estimate of $406.2 million, marking a 2.3% increase year-over-year [4] - Net investment income was $42.33 million, below the average estimate of $42.97 million, but represented a 9.2% increase compared to the previous year [4] Segment Performance - Net premiums earned in the Property segment were $122.51 million, slightly above the average estimate of $120.27 million, but showed a decline of 9% year-over-year [4] - Net premiums earned in the Surety segment were $37.11 million, marginally below the average estimate of $37.19 million, with a year-over-year increase of 1% [4] - Net premiums earned in the Casualty segment were reported at $246.79 million, exceeding the average estimate of $246.65 million, reflecting a year-over-year increase of 9.3% [4] Stock Performance - RLI Corp.'s shares have returned -8.2% over the past month, contrasting with the Zacks S&P 500 composite's -0.4% change, indicating potential underperformance in the near term [3]

Financial Performance - For the quarter ended December 2025, Fulton Financial reported revenue of $340.44 million, reflecting a year-over-year increase of 5.1% [1] - Earnings per share (EPS) for the quarter was $0.55, up from $0.48 in the same quarter last year [1] - The reported revenue exceeded the Zacks Consensus Estimate of $335 million, resulting in a surprise of +1.62% [1] - The company achieved an EPS surprise of +6.8%, with the consensus EPS estimate being $0.52 [1] Key Metrics - Efficiency Ratio was reported at 60%, compared to the estimated 58.9% by analysts [4] - Net Interest Margin stood at 3.6%, slightly above the estimated 3.5% [4] - Average Balance of Total Interest-Earning Assets was $30.03 billion, below the estimated $30.62 billion [4] - Total Non-Interest Income was $69.98 million, exceeding the estimated $69.5 million [4] - Net Interest Income (FTE) was reported at $270.46 million, above the estimated $266.15 million [4] Stock Performance - Shares of Fulton Financial have returned -2.3% over the past month, compared to a -0.4% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Core Insights - Live Oak Bancshares (LOB) reported a revenue of $172.91 million for the quarter ended December 2025, marking a 35% increase year-over-year and exceeding the Zacks Consensus Estimate by 16.32% [1] - The company's earnings per share (EPS) reached $0.95, significantly up from $0.22 in the same quarter last year, resulting in an EPS surprise of 69.64% over the consensus estimate of $0.56 [1] Financial Performance Metrics - Net charge-offs to average loans and leases held for investment were reported at 0.5%, slightly above the average estimate of 0.4% [4] - The net interest margin was 3.4%, surpassing the estimated 3.3% [4] - The average balance of total interest-earning assets was $14.47 billion, exceeding the average estimate of $14.03 billion [4] - The efficiency ratio stood at 51.6%, significantly better than the estimated 66.6% [4] - Total noninterest income was reported at $49.79 million, well above the estimated $30.69 million [4] - Net interest income reached $123.12 million, compared to the average estimate of $116.39 million [4] Stock Performance - Over the past month, shares of Live Oak Bancshares have returned +2%, while the Zacks S&P 500 composite experienced a -0.4% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Core Insights - Banc of California reported revenue of $292.93 million for Q4 2025, a year-over-year increase of 10.9% and a surprise of +0.07% over the Zacks Consensus Estimate [1] - The EPS for the same period was $0.42, compared to $0.28 a year ago, representing a surprise of +10.53% over the consensus estimate of $0.38 [1] Financial Performance Metrics - Annualized net loan charge-offs to average total loans held-for-investment were 0%, better than the estimated 0.1% [4] - Efficiency Ratio was reported at 59.4%, compared to the average estimate of 62.6% [4] - Net Interest Margin was 3.2%, matching the average estimate [4] - Average Balance of total interest-earning assets was $31.17 billion, below the estimated $31.68 billion [4] - Total Nonperforming loans were $159.17 million, compared to the estimated $179.21 million [4] - Total Nonperforming assets were $176.28 million, better than the estimated $184.36 million [4] - Total NonInterest Income was $41.57 million, exceeding the average estimate of $34.73 million [4] - Net Interest Income was $251.36 million, slightly below the estimated $258 million [4] - Service charges on deposit accounts were $5.04 million, compared to the estimated $5.19 million [4] - Leased equipment income was $16.38 million, significantly higher than the estimated $10.53 million [4] - Other commissions and fees were $9.52 million, slightly below the estimated $9.71 million [4] Stock Performance - Shares of Banc of California returned +2.7% over the past month, outperforming the Zacks S&P 500 composite, which changed by -0.4% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market [3]

Core Insights - Old National Bancorp (ONB) reported revenue of $698.6 million for Q4 2025, marking a year-over-year increase of 40.9% and an EPS of $0.62 compared to $0.49 a year ago [1] - The revenue fell short of the Zacks Consensus Estimate of $706.83 million by 1.16%, while the EPS exceeded the consensus estimate of $0.59 by 4.38% [1] Financial Performance Metrics - Efficiency Ratio stood at 51.6%, better than the four-analyst average estimate of 53.3% [4] - Net interest margin (FTE) was reported at 3.7%, slightly above the average estimate of 3.6% [4] - Net charge-offs to average loans were at 0.3%, matching the average estimate [4] - Average balance of total earning assets was $64.46 billion, exceeding the estimated $64.03 billion [4] - Total noninterest income was $109.76 million, below the average estimate of $121.5 million [4] - Net Interest Income (FTE) reached $588.85 million, slightly above the estimated $585.32 million [4] - Service charges on deposit accounts were $27.52 million, slightly below the estimated $27.79 million [4] - Wealth and investment services fees totaled $39.01 million, below the average estimate of $40.04 million [4] - Mortgage banking revenue was reported at $11.05 million, exceeding the estimated $9.72 million [4] Stock Performance - Shares of Old National Bancorp have returned -0.6% over the past month, compared to a -0.4% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]