Achieved the first quarter of year-over-year adjusted EBITDA growth in 16 quarters, driven by a $60,000,000 reduction in operating expenses and strategic workforce optimization. Prioritized sustainable pricing and returns over aggressive subscriber acquisition, resulting in 2.8% broadband ARPU growth despite intense promotional activity from competitors. Improved video profitability in absolute dollars compared to 2022 by implementing disciplined programming negotiations and launching higher-margin fl ...

Key Takeaways UBS will add 2,000-3,000 roles in Hyderabad to strengthen tech and operations capabilities.Job cuts in Switzerland continue, with 3,000 positions expected to be reduced in 2026.UBS achieved $10.7B in gross cost savings in 2025, aiming for $13.5B by year-end 2026.UBS Group AG (UBS) plans to hire up to 3,000 employees in India in the coming months, according to a Reuters article, which was published in Yahoo Finance. The expansion comes as the Swiss banking giant continues to reduce headcount in ...

Financial Data and Key Metrics Changes - Q4 revenue reached $2.17 billion, up 15% year-over-year, while full-year revenue increased by 11% [5] - EBITDA for Q4 was $653 million, a 29% increase, and full-year EBITDA was $2.42 billion, up 26% [5][10] - Operating income for Q4 was $580 million, reflecting a 34% increase, with earnings per share (EPS) of $1.05, a 42% rise for the quarter and a 40% increase for the year [5][6] - Free cash flow for the year was a record $1.43 billion, with a conversion rate of 93% of net income [5][11] Business Line Data and Key Metrics Changes - Commercial aerospace revenue grew 13% in Q4 and 12% for the full year, driven by demand for engine spares and a record backlog for new aircraft [7][8] - Defense aerospace revenue increased by 20% in Q4 and 21% for the full year, with engine spares up 32% [7][8] - Commercial transportation revenue was up 4% in Q4 but down 5% for the full year, impacted by higher aluminum costs [8] - Gas turbine revenue surged 32% in Q4 and 25% for the full year, driven by demand for electricity generation [9] Market Data and Key Metrics Changes - The commercial aerospace market is experiencing robust growth, particularly in Asia Pacific and North America, with a record OEM backlog [23] - The defense market remains strong, particularly for the F-35 program, with increasing demand for spares [25] - The gas turbine market is entering a significant growth phase, with expectations of doubling revenue from approximately $1 billion to $2 billion over the next 3-5 years [26] Company Strategy and Development Direction - The company is focused on investing for growth, with a capital expenditure of $453 million in 2025, primarily in the engines business [11][13] - Recent acquisitions, including CAM and Brunner, are aimed at enhancing product offerings and entering new markets [30][87] - The company aims to maintain a strong balance sheet while deploying capital for growth opportunities and returning value to shareholders through buybacks and dividends [75] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth of commercial aerospace and defense markets, citing a strong backlog and increasing demand for new aircraft builds [23][24] - The gas turbine market is expected to see significant growth due to rising electricity demand, particularly from data centers [26] - The company anticipates that 2026 will show continued growth, with revenue guidance of $9.1 billion and EBITDA of $2.76 billion [29] Other Important Information - The company redeemed all outstanding shares of preferred stock for $55 million, simplifying its capital structure [12] - The company completed the annuitization of the U.K. pension plan, reducing gross pension obligations by $128 million [21] Q&A Session Summary Question: Future growth expectations for engine products - Management sees robust growth in commercial aerospace, defense, and gas turbines, with significant investments planned to support this growth [35][39] Question: Margin sustainability and factors affecting it - Management indicated that while margins are currently high, predicting future margins is challenging due to various factors, including new hires and capital investments [46][49] Question: Capital deployment strategy regarding M&A and buybacks - Management stated that they can pursue both M&A and share buybacks simultaneously, with a disciplined approach to capital allocation [72][75] Question: Potential for gas turbine revenue to exceed commercial jet engine revenue - Management does not foresee gas turbine revenue surpassing commercial jet engine revenue but acknowledges significant growth in both sectors [80] Question: Insights on recent acquisitions and market opportunities - The CAM acquisition expands the company's capabilities in fittings and couplings, while the Brunner acquisition enhances its product offerings in the fasteners market [87][90]

Financial Data and Key Metrics Changes - The company reported record sales of $4.2 billion for 2025, a 6% increase from the previous year, driven by acquisitions and price increases [5] - Adjusted EPS reached a record $9.87, with strong cash flows from operations leading to record cash returns to shareholders [5] - The adjusted operating income margin remained stable at last year's record levels, with a reported operating income of $184 million, a 4% increase [12] Business Line Data and Key Metrics Changes - Americas Welding sales increased approximately 4%, driven by a 10.4% price increase, while volumes declined about 7% [14] - International Welding segment sales rose approximately 7%, aided by a 5% benefit from an acquisition and favorable foreign exchange, despite a 4% decline in volumes [16] - Harris Products Group saw an 11% sales increase, primarily due to an 18% price rise, although volumes compressed by 9% [17] Market Data and Key Metrics Changes - Three of the five end markets experienced growth, particularly in energy and general industries, with double-digit growth in Americas [9] - The automation sector faced challenges, with sales declining 11% in Q4 and a mid-single-digit decline for the full year, but strong order rates and backlog are expected to drive growth in 2026 [8][10] - The manufacturing PMI is showing signs of growth, indicating potential recovery in the industrial sector [9] Company Strategy and Development Direction - The company is transitioning to a new strategy named RISE, focusing on efficiency, agility, and innovation to drive growth [25] - The 2030 targets include maintaining a high single-digit to low double-digit sales growth rate, with a focus on organic growth and strategic acquisitions [28] - The company aims to achieve a peak consolidated operating income margin of over 20% and an average operating income margin of 19% across the cycle [35] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about an early-stage industrial recovery, supported by OEM commentary on capital spending plans [19] - The company anticipates a mid-single-digit sales growth rate for 2026, with expectations for volume growth to improve starting in the second quarter [20] - There is confidence in strong cash flow generation, which will support capital allocation strategies and compound earnings performance [21] Other Important Information - The company generated solid cash flows from operations, with a target of $3.7 billion in cash flows by 2030 [37] - A balanced capital allocation strategy is in place, with approximately 48% of investments directed towards growth and 52% returned to shareholders [38] - The company remains committed to its dividend program, having a history of 30 consecutive years of annual dividend increases [39] Q&A Session Summary Question: Long-term dynamics regarding incremental margins - Management discussed the timeline for achieving higher incremental margins, indicating steady benefits from enterprise initiatives over the five-year period [42][45] Question: Expectations for organic growth and order trends - Management expects mid-single-digit organic growth, split evenly between price and volume, with a pivot to growth anticipated in the second quarter [47][49] Question: Automation business expectations for 2026 - The automation business is expected to recover with mid-single-digit growth, driven by improved order levels and backlog [59] Question: Center-led functions and their benefits - The company aims to standardize processes across regions to enhance efficiency while retaining local agility [61][62] Question: Impact of metal inflation on pricing - Management confirmed that pricing actions will be taken as market conditions require, with a mechanical adder in place for metal costs [66][67]

Core Insights - Deere & Company has announced the five startups selected for its 2026 Startup Collaborator Program, aimed at enhancing interactions with startups that can provide valuable technology for agriculture, construction, and roadbuilding sectors [1][2] Group 1: Program Overview - The Startup Collaborator Program was initiated in 2019 to foster collaboration with startups addressing critical challenges in various industries [2] - The program focuses on technologies that improve precision, productivity, and sustainability for customers through innovations such as real-time equipment insights, AI-driven robotics, and digital crop intelligence [2][3] Group 2: Participating Startups - The 2026 cohort includes five startups: AIRS ML, IoTag, resonAg, TorqueAGI, and Aerobotics, each bringing complementary technologies in monitoring, sensing, AI, robotics, and data-driven insights [3][4] - AIRS ML specializes in on-device intelligence for real-time monitoring and predictive maintenance [4] - IoTag offers a telematics solution that optimizes performance across mixed fleets for agricultural and construction customers [4] - resonAg focuses on advanced soil sensing systems for precision agriculture, adapting technologies from other sectors [4] - TorqueAGI is developing an AI foundation model for enterprise robots capable of real-world reasoning and autonomy [4] - Aerobotics aids the fruit industry in making sustainable farming decisions using drone imagery and AI for yield estimation and operational optimization [4]

Diebold Nixdorf (NYSE:DBD) Q4 2025 Earnings call February 12, 2026 08:30 AM ET Company ParticipantsMaynard Um - VP of Investor RelationsOctavio Marquez - CEOThomas Timko - CFOConference Call ParticipantsAntoine Gallop - AnalystJustin Ages - AnalystMatt Summerville - AnalystOperatorHello, good day, and welcome to Diebold Nixdorf's fourth quarter and full year 2025 earnings call. My name is Ellie, and I'll be coordinating today's call. Following our speakers' remarks, there will be a question and answer sessi ...

Core Insights - Nissay Asset Management Corporation has become the first asset management company in Japan to implement Broadridge's Mortgage-Backed Securities Trade Assignment Portal, enhancing operational efficiency and reducing administrative workload [1][1][1] Company Overview - Nissay Asset Management was established in 1995 and is part of the Nippon Life Group, focusing on providing a wide range of investment products for pension funds and individual investors [1][1] - Broadridge Financial Solutions is a global technology leader that processes over 7 billion communications annually and supports daily trading of over $15 trillion in various securities [1][1] Technology Implementation - The Trade Assignment Portal automates and digitizes the Assignment of Trade (AOT) processes for TBA trading of mortgage-backed securities, allowing for instant contract creation, electronic signing, and real-time progress tracking [1][1][1] - The solution significantly reduces manual workload and improves transparency by securely storing completed AOTs in the cloud [1][1] Industry Context - The implementation of the Trade Assignment Portal comes as Japan's asset management industry faces pressure to reduce routine tasks and allocate more resources towards value-generating initiatives for investors [1][1] - By reducing AOT processing time, the portal enables traders at Nissay Asset Management to focus more on planning and execution, thereby enhancing operational agility and client outcomes [1][1]

Oran said GXO generated $163 million of free cash flow in the fourth quarter and achieved its targeted adjusted EBITDA-to-free-cash-flow conversion for the full year, citing disciplined capital expenditures and working capital management. He also said leverage improved to 2.5x net debt to adjusted EBITDA , even after $200 million in share buybacks completed in the first half of 2025 at an average price of $37.34 .CFO Baris Oran added that full-year revenue increased 12.5% , including 3.9% organic growth, wh ...

Financial Data and Key Metrics Changes - The company reported net operating revenues of $21.3 billion for 2025, with consolidated Adjusted EBITDA of $4.57 billion, representing a 14% growth over 2024 [5][13] - The full-year Adjusted EBITDA margin improved by 200 basis points to 21.4% compared to the prior year [5][14] - In Q4 2025, total net operating revenues were $5.5 billion, with consolidated Adjusted EBITDA of $1.183 billion, a 13% increase year-over-year [12][13] Business Line Data and Key Metrics Changes - The USPI segment's Adjusted EBITDA grew 12% in 2025 to $2.026 billion, with same-facility revenues increasing by 7.2% [6][14] - The hospital segment's Adjusted EBITDA increased by 16% to $2.54 billion, with same-store revenues per adjusted admission up 5.3% [7][14] - Same facility revenues grew 7.5%, driven by double-digit growth in total joint replacements in ASCs [7] Market Data and Key Metrics Changes - The company experienced strong same-store revenue growth, exceeding the long-term goal of 3%-6% organic growth [7] - In Q4, exchange volumes accounted for approximately 7.5% of total admissions and over 6% of consolidated revenues [69] Company Strategy and Development Direction - The company plans to continue focusing on organic growth supplemented by M&A, with nearly $350 million invested in 2025 and 35 facilities added to the portfolio [7][8] - The company expects to tackle expense management more structurally, leveraging technology for sustainable cost reductions [27][28] - The company anticipates a gradual tailwind from the phase-out of the Inpatient Only List starting in 2026, with opportunities in high acuity procedures [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving strong core earnings growth for 2026, despite anticipated headwinds from the expiration of enhanced premium tax credits [11][19] - The company expects full-year 2026 Adjusted EBITDA in the range of $4.485 billion to $4.785 billion, driven by ongoing demand strength and service line expansion [9][18] - Management acknowledged uncertainty regarding enrollment levels and effectuation rates, which could impact future performance [11][19] Other Important Information - The company repurchased approximately 22% of its outstanding shares for around $2.5 billion since the share repurchase program began in Q4 2022 [8][16] - The company generated $2.53 billion of free cash flow for the full year 2025, with $2.8 billion in cash on hand as of December 31, 2025 [15][16] Q&A Session Summary Question: Can you expand on the same-store hospital volume performance in the quarter? - Management noted that while acuity was good, the respiratory season was weaker than expected, impacting volumes [25] Question: What do you mean by tackling expense management more structurally? - Management explained that they are focusing on technology deployment for sustainable expense reductions, moving beyond traditional annual expense management [27][28] Question: Can you provide more details on the hospital admission growth guidance of 1%-2%? - Management indicated that the guidance reflects anticipated impacts from exchange exposure and investments in higher acuity capabilities [32] Question: Is the growth expected to be sustainable in future years? - Management expressed confidence in the sustainability of growth, citing a track record of acuity and revenue per case growth [39][40] Question: What is the payer mix for USPI in Q4? - Management reported a consistent payer mix, with net revenue per case growth of 5.5% and EBITDA margins above 40% [83]

Core Insights - The mining industry is experiencing a transformation through automation and new technologies, enhancing operations and boosting domestic production globally [1][4][6]. Group 1: Technological Advancements - Self-driving vehicles are revolutionizing mining operations, showcasing how automation is enhancing efficiency [1]. - Australia is utilizing advanced electromagnetic surveys to create mineral potential maps, covering around 70% of the country [2]. - Satellite technology is being integrated into mining operations, allowing for remote data transmission and monitoring of worker safety [7][10]. Group 2: Critical Minerals and Market Dynamics - Australia is positioning itself as a key player in the critical minerals market, which is essential for energy transition technologies [3][4]. - China currently dominates the production of over 15 critical minerals, leading to a global race among nations to reduce this dependency [4]. Group 3: Artisanal Mining Sector - The artisanal mining sector has grown significantly, contributing approximately 20% of the world's gold supply today, up from 4% in the 1990s [11]. - There are pressing regulatory challenges within the artisanal mining sector, particularly concerning social and environmental risks [12][14]. Group 4: ESG and Industry Challenges - The relevance of ESG frameworks in mining is being questioned, with some experts suggesting it is evolving rather than dying [15][17]. - The industry faces challenges in balancing compliance with varying regulations across different markets [18][19]. - Circular economy principles are being explored, with mining companies encouraged to adopt practices that support sustainability [20][21].