Mastech Digital (NYSEAM:MHH) Q4 2025 Earnings call February 19, 2026 09:00 AM ET Company ParticipantsJennifer Lacey - Manager of Legal AffairsKannan Sugantharaman - CFO and COONirav Patel - CEOConference Call ParticipantsLisa Thompson - Senior Analyst of TechnologyMarc Riddick - Senior Equity AnalystOperatorDay, and thank you for standing by. Welcome to the Mastech Digital Fourth Quarter 2025 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation ...

Financial Data and Key Metrics Changes - In 2025, the company achieved a revenue of $7.1 billion, representing a 7% increase year-over-year, with adjusted EBITDA growing 11% to $656 million [10][11] - Adjusted earnings per share (EPS) increased by 34% to $1.22, marking the highest total revenue and leasing revenue in company history [5][10] - The company generated over $290 million in free cash flow, achieving a conversion rate of 103%, which is a $126 million improvement compared to 2024 [11] Business Line Data and Key Metrics Changes - Capital Markets revenue grew by 15% globally, with a notable 19% increase in the Americas [12][16] - The leasing business also performed well, growing 5% in the fourth quarter and reaching the highest quarterly level ever for the company [12][14] - Services revenue increased by 6% globally, driven by strong project management revenues [16][55] Market Data and Key Metrics Changes - In the Americas, leasing grew 5%, with strong performance in office and industrial sectors [14] - In APAC, leasing revenue increased by 5%, supported by growth in India and improvements in Greater China [15] - EMEA leasing grew by 7%, led by strong performance in the Netherlands, Belgium, and Poland [15] Company Strategy and Development Direction - The company aims for 15%-20% annual adjusted EPS growth over the next three years, with a focus on moving up the value chain and leveraging AI for operational efficiency [6][17] - The strategic priorities include enhancing cross-selling between business lines and utilizing AI to improve data flow and decision-making processes [35][36] - The company plans to continue deleveraging, targeting a leverage ratio of 2x by 2028 [17][38] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing recovery of Capital Markets and the resilience of the industrial sector, driven by strong e-commerce trends [48][66] - The company anticipates revenue growth of 6%-8% in 2026, with similar service line growth trends as in 2025 [17] - Management believes that AI will enhance the role of trusted advisors rather than replace them, particularly in complex commercial real estate transactions [22] Other Important Information - The company recorded a $177 million impairment related to its Greystone joint venture due to lower future earnings expectations [12][13] - The company has a strong cash position with approximately $800 million in cash and cash equivalents, and $1.8 billion in total liquidity [11] Q&A Session Summary Question: Concerns about AI impacting mid-market brokerage businesses - Management believes concerns about AI disintermediating commercial real estate brokerage are overstated, as complex negotiations will still require trusted advisors [22] Question: EMEA margin growth confidence - Management expressed confidence in EMEA margin growth despite a slight decline in the fourth quarter, attributing it to one-time expenses [23] Question: Risks across different property types due to AI - Management highlighted ongoing research into AI's impact across various sectors and encouraged attendance at an upcoming call to discuss practical tools for clients [25][26] Question: 2026 guidance on leasing and capital markets revenue growth - Management expects 2026 to unfold similarly to 2025, with strong leasing growth and a positive outlook for capital markets [29] Question: Cross-selling initiatives for 2026 - Management is focusing on desiloing the organization and enhancing data flow to support cross-selling efforts [35] Question: Capital allocation strategy and potential for share buybacks - Management is evaluating share buybacks but prioritizes organic growth and deleveraging [51] Question: Exposure to the office sector and its risks - Management noted that they do not operate in Class B office space, which is more vulnerable to disruption, and emphasized their focus on velocity in transactions [43] Question: Hiring strategy for 2026 - Management plans to maintain a substantial budget for recruiting, particularly in institutional capital markets and leasing [61]

Group 1: Company Developments - Carnival Corporation & plc announced the opening of new voyages by the Holland America Line for 2027-2028, featuring around three dozen itineraries in popular vacation regions such as Mexico, Hawaii, the Panama Canal, and the Pacific Coast, with longer stays in Honolulu and extended exploration of Mexico's Sea of Cortez [1] - The company received a Buy rating reaffirmation from Citi on January 14, with a price target set at $39 [2] - TD Cowen raised the price target for Carnival Corporation to $38 from $35 on January 13 while maintaining a Buy rating, citing strong underlying cruise demand and favorable capacity trends through fiscal 2029 despite temporary Caribbean yield headwinds [3] Group 2: Company Overview - Carnival Corporation & plc operates as a global cruise and luxury leisure travel company, with a diverse portfolio of cruise lines including AIDA Cruises, Carnival Cruise Line, Princess Cruises, Costa Cruises, Cunard, Holland America Line, and P&O Cruises (Australia), among others. Its operations are segmented into North America cruise operations, Europe cruise operations, Cruise Support, and Tour and Other [4]

Cushman & Wakefield (NYSE:CWK) Q4 2025 Earnings call February 19, 2026 09:00 AM ET Speaker8Good day, and welcome to the Cushman & Wakefield fourth quarter and full year 2025 earnings call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touch-tone phone. To withdraw your questi ...

Core Insights - SKYX Platforms Corp. has announced a collaboration with NVIDIA AI Ecosystem Connect Program, aiming to enhance its smart home projects and technologies [1] - The company has launched its patented SKYFAN and Turbo Heater at major U.S. retailers, including Home Depot, Target, Walmart, and Lowe's, and expects significant growth in these product lines [1] - SKYX has reported a consistent revenue increase for seven consecutive quarters and anticipates further growth and business opportunities in 2026 [1][2] Financial Performance - As of September 30, 2025, the company reported $13 million in cash and equivalents, and has since raised over $33 million, including a $25 million investment at $2.50 per share [2] - The company has extended $13.5 million in notes due until 2030, strengthening its balance sheet for growth initiatives [2] - SKYX expects to deploy over 100,000 products into homes and units by the end of 2026 through retail and professional segments [2] Product Development and Market Expansion - The company is launching an AI-driven software for its e-commerce platform, projected to increase conversion rates and sales by up to 30% [2] - SKYX has secured strategic manufacturing partnerships globally, including in the U.S., Vietnam, Taiwan, China, and Cambodia [3] - The company aims to deploy over 1 million units of its smart home technologies in various upcoming projects, including a $4 billion smart city in Miami and developments in Saudi Arabia and Egypt [1] Safety and Standardization Efforts - SKYX's Safety Code Standardization Team is making progress towards mandatory safety standards for its ceiling outlet technology, supported by industry veterans [7] - The company believes its products can significantly reduce costs for insurance companies by minimizing risks such as fires and electrocutions [7] - SKYX's technologies are positioned to become a standard feature in homes and buildings, with a total addressable market in the U.S. estimated at $500 billion [7]

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