Financial Data and Key Metrics Changes - In Q4 2025, adjusted net investment income (NII) per share was $0.36, consistent with the previous quarter, resulting in a return on equity (ROE) of 9.7% [11] - Net asset value (NAV) per share decreased to $14.81 from $14.89 in the prior quarter, primarily due to write-downs on a few watchlist names, partially offset by share repurchases [24] - The company repurchased $148 million of stock, the largest repurchase in its history, which was accretive to NAV per share by approximately $0.05 [24] Business Line Data and Key Metrics Changes - OBDC had fundings of $820 million against $1.4 billion of repayments, resulting in lower net leverage at 1.19x [14] - The portfolio is broadly diversified across 30 industries, with average position sizes of approximately 40 basis points [16] - Revenue and EBITDA growth for borrowers in the software portfolio was 10% and 16% respectively in Q4, outpacing other sectors [17] Market Data and Key Metrics Changes - The company executed asset sales totaling $1.4 billion, including $400 million from OBDC, at book value and an average price of 99.7% [8] - Interest coverage ratios remained healthy at approximately 2x, with a non-accrual rate decreasing to 1.1% at fair value [19] - The company received a Moody's upgrade to Baa2, reflecting strong portfolio and liability management capabilities [25] Company Strategy and Development Direction - The company terminated the proposed merger with OBDC II and opted for a significant asset sale to provide liquidity to shareholders [7] - The strategy remains focused on disciplined capital allocation, with a buy-and-hold approach to lending [10] - The company aims to leverage its diversified lending strategy to create value for shareholders, with a focus on maintaining credit quality [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the portfolio's credit quality, stating that losses remain low and borrower fundamentals are strong [27] - The company anticipates that lower base rates and tighter spreads will impact future earnings, but does not expect broad-based credit issues [28] - Management highlighted the importance of maintaining a stable dividend while evaluating the impact of market conditions on future payouts [29] Other Important Information - The board declared a first-quarter base dividend of $0.37, to be paid on April 15, 2026 [23] - The company has approximately $4 billion in total cash and capacity on its facilities, exceeding unfunded commitments [25] - The new share repurchase program of up to $300 million was authorized, replacing the previous $200 million plan [24] Q&A Session Summary Question: Is OBDC II halting redemptions permanently? - Management clarified that they are not halting redemptions but accelerating them, returning 30% of capital at book value to investors [34][35] Question: What is the most accretive use of capital today? - Management indicated that they are evaluating both stock buybacks and capital deployment into the market, given the stock price is trading below book value [40][42] Question: Why not sell all of OBDC II? - Management opted for a quick transaction to return capital to investors while maintaining a diversified and liquid remaining portfolio [64][66] Question: What is the appetite for new software loan purchases? - Management expressed confidence in their software investments and indicated a cautious approach to new purchases, focusing on high-quality companies [69][70] Question: How does the mark received on the loan sales compare with previous fair value marks? - Management stated that the loans were sold at their marks, consistent with previous valuations, reinforcing the integrity of their valuation process [86][88]

Financial Data and Key Metrics Changes - In 2025, Medallion Financial Corp reported record performance with increases in net interest income, net income, originations, and portfolio size compared to 2024 [4] - Net interest income grew 8% to $56.4 million for Q4 and 7% to $216.9 million for the full year [17] - Net income attributable to shareholders was $12.2 million for Q4, an increase of $2.1 million from the prior year, and $43 million for the full year, up $7.2 million [23] Business Line Data and Key Metrics Changes - Consumer lending, the largest business line, reported interest income of $74.5 million for Q4 and $289.9 million for the year, growing 5% and 8% respectively [5] - Home improvement loans stood at $810.2 million, with Q4 originations of $61.7 million, down from $82.5 million a year ago [7] - Commercial lending originations were $4.1 million for Q4, compared to $7.3 million the previous year, but total originations for the year increased to $40.6 million from $14.3 million [8] Market Data and Key Metrics Changes - Total loans reached $2.567 billion, with total originations of $421 million for Q4 and $1.5 billion for the full year, reflecting growth from the previous year [4] - The average interest rate on the total loan portfolio increased to 12.26% from 12.01% a year ago [19] - Delinquencies of ninety-plus days were 0.82% for recreational loans and 0.16% for home improvement loans, indicating strong credit quality [6][7] Company Strategy and Development Direction - The company aims to build on its strong foundation while refining strategic priorities, focusing on growth in the recreation and home improvement segments [13] - A disciplined origination strategy and prudent balance sheet management are prioritized to ensure sustainable growth [12] - The strategic partnership program has seen significant growth, with originations reaching a record level of $258.3 million [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate changing environments and deliver consistent returns for shareholders [16] - The focus for 2026 includes targeting sustained growth in core business lines and expanding the home improvement segment [13] - Management acknowledged the potential for market conditions to evolve but emphasized a clear and consistent strategy [16] Other Important Information - The provision for credit loss was $27.7 million for Q4, reflecting an increase from previous quarters due to portfolio growth and adjustments in allowance coverage [20] - The company collected $2.5 million from its legacy Taxi Medallion business during Q4, with net recoveries and gains of $1.4 million [11] - The adjusted tangible book value per share increased to $12.12, up from $10.50 a year ago [24] Q&A Session Summary Question: How would you characterize the provision expense of $27.7 million? - Management explained that the increase was due to moving loans from held for sale to held for investment and adjustments in allowance coverage [26][27] Question: What were the nature of the equity gains recognized? - Management detailed that the $8.8 million in equity gains came from several exits, including gains on warrants and equity investments [32][34] Question: What is the growth outlook for the home improvement segment? - Management indicated a focus on mid-teens growth for home improvement, supported by new talent and improved capital availability [36][38] Question: Should we expect a growth in the reserve ratio in 2026? - Management stated that while the allowance will grow with the loan book, significant changes in the reserve ratio are not expected [46] Question: What were the net charge-offs for Q4? - Management provided details on net charge-offs, indicating $107 for home improvement and $441 for the recreational portfolio [48]

Financial Data and Key Metrics Changes - In Q4 2025, net interest income grew 8% to $56.4 million from $52 million in the same quarter a year ago, and for the full year, it increased 7% to $216.9 million from $202.5 million in 2024 [16][22] - Net income attributable to shareholders was $12.2 million, or $0.50 per diluted share, an increase of $2.1 million or $0.07 per share over the prior year quarter, and for the full year, net income was $43 million, or $1.78 per share, an increase of $7.2 million or $0.26 per share from 2024 [22] - Total loans reached $2.567 billion, with total originations of $421 million for Q4 and $1.5 billion for the full year, reflecting increases from both the same quarter last year and year-over-year [4][18] Business Line Data and Key Metrics Changes - Consumer lending, the largest business line, reported interest income of $74.5 million for Q4 and $289.9 million for the year, growing 5% compared to the same period last year and 8% year-over-year [5] - The recreational loan book grew 5% to $1.6 billion, representing 63% of total loans, with Q4 originations of $97.2 million compared to $72.2 million a year ago [5][18] - The home improvement loan book stood at $810.2 million, representing 32% of total loans, with Q4 originations of $61.7 million versus $82.5 million last year [6] - The commercial segment had new originations of $4.1 million during Q4, compared to $7.3 million the same quarter a year ago, but total originations for the year were $40.6 million, up from $14.3 million in 2024 [7] Market Data and Key Metrics Changes - The average interest rate on the total loan portfolio increased to 12.26% from 12.01% a year ago, with the average interest rate on commercial loans at 14.22% compared to 12.97% a year ago [18] - Delinquencies of ninety-plus days were 0.82% of gross recreational loans and 0.16% of gross home improvement loans, with allowances for credit losses at 5.32% and 2.41% respectively [6][19] Company Strategy and Development Direction - The company aims to build upon its strong foundation while refining strategic priorities, focusing on sustained growth in the recreation and home improvement segments [12] - The strategic partnership program has seen record levels of originations, reaching $258.3 million in Q4, indicating diversification of income sources [9] - The company is committed to disciplined growth, operational excellence, and prudent capital allocation, with a focus on optimizing returns and improving margins [14][57] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate changing environments and deliver consistent, attractive returns for shareholders [14] - The company recognizes the potential for market conditions to evolve but remains focused on sustainable value creation [14] - Management highlighted the importance of maintaining a strong balance sheet to support future investments and growth opportunities [14] Other Important Information - The provision for credit loss was $27.7 million for Q4, reflecting an increase from $18.6 million in Q3 and $20.6 million in the prior year quarter [19] - The company collected $2.5 million in cash from its legacy Taxi Medallion business during Q4, resulting in net recoveries and gains of $1.4 million [10] Q&A Session Summary Question: How would you characterize the provision expense of $27.7 million? - Management explained that the increase was due to moving loans from held for sale to held for investment, which accounted for a $2.2 million provision hit, and an increase in allowance coverage from 5% to 5.32% [26][27] Question: What were the nature of the equity gains of $8.7 million? - Management indicated that the gains were related to several exits, with about $8.5 million coming from three specific portfolio companies [31][32] Question: Should we expect a growth in the reserve ratio in 2026? - Management stated that while the allowance will grow with the loan book, they do not expect significant changes in the reserve ratio [45] Question: What is the growth outlook for the home improvement segment? - Management highlighted that they added experienced talent to support growth in the home improvement line and expect mid-teens growth, significantly above previous levels [36][38]

Core Insights - The restaurant industry is facing challenges, but the company has shown resilience with steady revenue and improved operational metrics [1][4][25] - The company achieved record annual revenue and adjusted diluted earnings per share, supported by strong operational execution and culinary innovation [4][14][25] - The company plans to open up to 26 new restaurants in 2026, reflecting confidence in its development pipeline and commitment to long-term growth [6][24] Financial Performance - Total revenues for the fourth quarter were $961.6 million, with adjusted diluted earnings per share at $1, finishing toward the higher end of expectations [14][19] - Comparable sales for The Cheesecake Factory declined by 2.2% in the fourth quarter, while North Italia saw an 8% increase in sales [10][15] - Adjusted restaurant-level profit margins for The Cheesecake Factory increased to 17.6%, with North Italia at 17.5% and Flower Child at 18.5% [12][14] Operational Highlights - The company opened seven new restaurants in the fourth quarter, contributing to a total of 25 new openings for the year, achieving approximately 7% unit growth [5][24] - Labor productivity and guest satisfaction improved, supported by high retention rates among staff [7][11] - The introduction of new menu items has resonated well with guests, enhancing the overall dining experience [8][33] Market Trends - Industry sales decelerated in the fourth quarter, with the Black Box Casual Dining Index declining by 40 basis points [10] - The company’s off-premise sales mix was 22%, indicating a stable demand for delivery and takeout options [10][76] - The company anticipates total revenues for fiscal 2026 to be approximately $3.9 billion, with inflation across commodities and labor expected to be in the low to mid-single digits [21][22] Strategic Initiatives - The company plans to launch a dedicated rewards app to enhance guest experience and engagement, expected in the second quarter [61][66] - There is a focus on menu innovation, particularly with the introduction of bites and bowls, which have shown strong attachment rates [9][33] - The company is committed to disciplined capital allocation, increasing share repurchase authorization and raising quarterly dividends [6][25]

CRH (NYSE:CRH) Q4 2025 Earnings call February 19, 2026 08:00 AM ET Speaker8Good day, and welcome to the CRH fourth quarter and full year 2025 results presentation. My name is Krista, and I will be your operator today. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. If you would like to ask a question, please press Star and then the number one on your telephone keypad at any time. If you would like to withdraw your ...

The Cheesecake Factory (NasdaqGS:CAKE) Q4 2025 Earnings call February 18, 2026 05:00 PM ET Speaker12Ladies and gentlemen, thank you for standing by. My name is Krista, and I will be your conference operator today. At this time, I would like to welcome you to The Cheesecake Factory Incorporated fourth quarter 2025 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. If you would like to ask a qu ...

Rollins (NYSE: ROL) FY Conference Summary Company Overview - Rollins is a portfolio of pest control brands, demonstrating strong performance with a focus on recurring revenue streams. [5][9] Key Financial Performance - Achieved double-digit revenue and earnings growth for three consecutive years, marking the 24th consecutive year of annual revenue growth and the 97th consecutive quarter of revenue growth. [5][6] - 75% of the business is under contract, indicating a strong recurring revenue model. [5] - The ancillary business grew at 15-16% year-over-year, while the one-time business faced challenges due to adverse weather conditions. [6][9] Weather Impact - Weather conditions negatively impacted the one-time business, particularly in the Midwest and Northeast, leading to a decline in growth during Q4. [6][7] - The company anticipates a recovery in Q1, with expectations of making up for lost revenue as the peak season approaches. [12][13] Growth Opportunities - Rollins is focusing on cross-brand collaboration to enhance growth, particularly in the ancillary services segment. [20][21] - There is significant potential to reduce customer churn by redirecting customers from one brand to another within the portfolio. [22] Operational Improvements - The company is investing in modernization initiatives, including process improvements and technology upgrades, to enhance operational efficiency. [24][42] - A new EPM system is being implemented to improve data synthesis and decision-making capabilities. [43][50] Margin Profile - The one-time business has a gross margin of over 70%, indicating strong profitability potential. [16] - The company is addressing high turnover rates among field staff, which has significant cost implications. [27][31] Capital Allocation and M&A Strategy - Rollins aims for 2-3% growth through M&A, with a pipeline of potential deals. [56][62] - The company has successfully completed over 100 acquisitions in the past few years, with a focus on maintaining a long-term approach to business integration. [61][63] Shareholder Engagement - The Rollins family remains supportive of modernization efforts and is aligned with the interests of other shareholders. [77][79] - The company has increased its dividend by 85% over the past few years, reflecting strong financial performance. [73] Conclusion - Rollins is positioned for continued growth through its strong recurring revenue model, operational improvements, and strategic M&A initiatives. The company remains optimistic about its future performance despite recent weather-related challenges. [9][63]

Pitney Bowes (NYSE:PBI) Q4 2025 Earnings call February 18, 2026 08:00 AM ET Speaker7Ladies and gentlemen, thank you for standing by. Welcome to the fourth quarter 2025 Pitney Bowes Earnings Conference Call. Joining us today are Chief Executive Officer Kurt Wolf, Chief Financial Officer Paul Evans, and Director Investor Relations Alex Brown. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the ses ...

Core Insights - Cemtrex, Inc. reported a 17% increase in revenues for Q1 2026, reaching $16.1 million compared to $13.7 million in the prior year [10] - The company experienced an operating loss of $2.8 million, which is an increase from the $2.3 million loss in the same quarter last year, primarily due to lower gross margins in the Security segment and one-time expenses [4][11] - The Industrial segment achieved a record revenue of $10.6 million, reflecting a 28% increase driven by operational discipline and growing demand [6][10] Financial Performance - Revenues for Q1 2026 increased to $16.1 million from $13.7 million in the prior year, with the Industrial segment contributing $10.6 million, up from $8.3 million [10] - Security segment revenue saw a modest increase of 1%, reaching $5.5 million compared to $5.4 million in the previous year [10] - Cash and cash equivalents surged by 312% to $20.5 million, up from $5 million in the prior year [10] Management Actions - The company implemented pricing adjustments and reduced overhead costs by approximately $2.5 to $3.0 million on an annualized basis to address gross margin compression in the Security segment [5] - Cemtrex completed acquisitions of Invocon and Richland Industries, which are expected to enhance its operational footprint and earnings base starting in Q2 [7] - The management aims to restore segment margins, expand operating income, and strengthen cash flow generation throughout fiscal 2026 [8] Strategic Focus - The company is focused on disciplined execution and capital allocation to build a diversified platform for durable operating income [8] - There is an ongoing commitment to pursue acquisitions that align with the criteria for sustainable margins and cash generation [8] - The early adoption of the NEXT camera line is expected to contribute positively to the Security segment's performance [5]

Genuine Parts Company (NYSE:GPC) Q4 2025 Earnings call February 17, 2026 08:30 AM ET Speaker7At this time, I would like to turn the conference over to Tim Walsh, Vice President of Investor Relations. Please go ahead, sir.Speaker9Thank you, and good morning, everyone. Welcome to Genuine Parts Company's fourth quarter 2025 earnings call. Joining us on the call today are Will Stengel, Chair-elect and Chief Executive Officer, and Bert Nappier, Executive Vice President and Chief Financial Officer. In addition to ...