Financial Data and Key Metrics Changes - The consolidated adjusted EBITDA for 2025 was $219.2 million, down $53.6 million from the prior year, primarily due to changes in contract and spot coke sales, lower economics on the Granite City contract extension, and lower handling volumes [5][10] - The fourth quarter net loss attributable to SunCoke was $1 per share, down $1.28 compared to Q4 2024, mainly driven by one-time items totaling $0.85 per share net of tax [8][9] - Full year net loss attributable to SunCoke was $0.52 per share, down $1.64 from 2024, influenced by one-time items including non-cash asset impairment charges [8][9] Business Line Data and Key Metrics Changes - The domestic coke business delivered full-year adjusted EBITDA of $170 million, down $64.7 million from the prior year, impacted by contract and spot coke sales mix and the Algoma breach [10] - The industrial services segment, including Phoenix Global, delivered full-year adjusted EBITDA of $62.3 million, an increase of $11.9 million year-over-year, primarily due to the addition of Phoenix Global [11] - Corporate and other expenses increased by $800,000 year-over-year to $13.1 million, reflecting results from legacy coal mining and Brazil coke-making businesses [11] Market Data and Key Metrics Changes - The domestic coke segment is expected to deliver adjusted EBITDA between $162 million and $168 million in 2026, with sales of approximately 3.4 million tons [16][18] - Industrial services adjusted EBITDA is projected to be between $90 million and $100 million in 2026, reflecting expectations for improved market conditions [19][20] Company Strategy and Development Direction - The company plans to utilize free cash flow to support capital allocation priorities, including paying down revolver balance and maintaining dividends [22][23] - The integration of Phoenix Global is progressing well, with expectations for growth potential in this business [7][23] - The company aims to maintain strong safety and environmental performance, which is central to delivering high-quality coke and industrial services [22] Management's Comments on Operating Environment and Future Outlook - Management anticipates a meaningful recovery in 2026, supported by an optimized coke fleet and extended coke-making contracts [15] - The company expects consolidated adjusted EBITDA to be between $230 million and $250 million in 2026, with a focus on deleveraging and maintaining a gross leverage target below 3x [15][21] - Management highlighted the impact of ongoing litigation with Algoma, expecting to recover losses from the breach of contract [28][30] Other Important Information - The company returned approximately $41 million to shareholders via dividends in 2025 and plans to continue this in 2026 [7] - Capital expenditures for 2025 were $66.8 million, slightly below the revised guidance of $70 million [13] Q&A Session Summary Question: Status of litigation with Algoma - Management confirmed they are pursuing arbitration against Algoma for breach of contract and expect to prevail [28][30] Question: EBITDA contribution from Phoenix Global - Management affirmed the anticipated annual EBITDA contribution from Phoenix Global is still expected to be around $60 million, with synergies of $5 million-$10 million [32] Question: Haverhill One closure and potential reopening - Management stated that Haverhill One could be restarted but would require significant capital investment and about 12-18 months [42] Question: Impact of Middletown turbine failure - Management indicated that the turbine failure will have a $10 million impact in the first quarter, with no earnings from power production until it is operational again [46][48] Question: Expected improvement in tons handled in the industrial segment - Management noted that guidance includes a full year of the new KRT contract and modest recovery across both KRT and CMT [52]

Financial Data and Key Metrics Changes - The consolidated adjusted EBITDA for Q4 2025 was $56.7 million, down $9.4 million compared to the prior year, primarily due to lower coke sales volumes and market conditions [9][10] - Full year adjusted EBITDA for 2025 was $219.2 million, a decrease of $53.6 million from the previous year, driven by changes in contract and spot coke sales and lower economics on the Granite City contract extension [9][10] - The net loss attributable to SunCoke for Q4 2025 was $1 per share, down from $1.28 in Q4 2024, influenced by one-time items totaling $0.85 per share [8][9] Business Line Data and Key Metrics Changes - The domestic coke business delivered full-year adjusted EBITDA of $170 million, down $64.7 million from the prior year, impacted by contract and spot coke sales mix and the Algoma breach [10][11] - The industrial services segment, including Phoenix Global, reported full-year adjusted EBITDA of $62.3 million, an increase of $11.9 million year-over-year, primarily due to the addition of Phoenix Global [11] - Corporate and other expenses increased by $800,000 year-over-year to $13.1 million, reflecting costs from legacy operations [11] Market Data and Key Metrics Changes - The domestic coke segment is expected to deliver adjusted EBITDA between $162 million and $168 million in 2026, with sales of approximately 3.4 million tons [17][19] - Industrial services adjusted EBITDA is projected to be between $90 million and $100 million in 2026, reflecting expectations for improved market conditions [20][22] Company Strategy and Development Direction - The company plans to utilize free cash flow to support capital allocation priorities, including paying down revolver balance and maintaining dividends [24][25] - SunCoke aims to continue integrating Phoenix Global and assess new growth opportunities across its business [25] - The company has extended key contracts, including the Granite City and Haverhill Two contracts, to ensure stable revenue streams [6][19] Management's Comments on Operating Environment and Future Outlook - Management anticipates a meaningful recovery in 2026, supported by an optimized coke fleet and improved market conditions [16][24] - The company expects to generate positive free cash flow in 2026, with gross leverage targeted around 2.45x, below the long-term target of 3x [16][24] - Management highlighted the impact of recent weather conditions and operational challenges, including a turbine failure, on first-quarter results [47][48] Other Important Information - The company returned approximately $41 million to shareholders via dividends in 2025 and plans to continue this practice in 2026 [6][24] - The integration of Phoenix Global is progressing well, with expected synergies contributing to future earnings [33][20] Q&A Session Summary Question: Status of litigation with Algoma regarding contract breach - Management confirmed ongoing arbitration with Algoma, expecting to recover losses from the breach, which could amount to up to $70 million [30][31] Question: Expected EBITDA contribution from Phoenix Global - Management affirmed the anticipated annual EBITDA contribution of approximately $60 million from Phoenix Global, along with expected synergies of $5 million to $10 million [33] Question: Future of Haverhill One facility - Management indicated that Haverhill One could be restarted but would require significant capital investment and is currently not economically viable [42][43] Question: Impact of Middletown turbine failure and weather on operations - Management noted that the turbine failure and severe weather have resulted in an estimated $10 million impact on first-quarter results [48][49] Question: Drivers of expected improvement in industrial segment handling volumes - Management attributed the expected improvement to a full year of the new KRT contract and modest recovery across both KRT and CMT [52]

Financial Data and Key Metrics Changes - In Q4 2025, the company reported net sales of $567 million, EBITDA of $50 million, and adjusted diluted earnings per share of $0.03 [5][16] - For the full year, net sales reached $2.7 billion, with EBITDA of $436 million and adjusted earnings per share of $2.65 [16] - The EBITDA margin for the siding business improved to 26%, up 1 percentage point from 2024, while the OSB segment faced significant price declines, resulting in a low EBITDA margin [14][16] Business Line Data and Key Metrics Changes - The siding business grew by 8% in 2025, with a 4% increase in net selling prices and a 4% increase in sales volumes [5][16] - ExpertFinish product line saw a remarkable 35% growth in Q4, while prime volumes declined by 5% [12] - OSB segment faced a revenue decrease of $129 million and EBITDA decline of $95 million due to unfavorable supply-demand dynamics [14] Market Data and Key Metrics Changes - Single-family housing starts were down approximately 10% in Q3 2025, with further weakness expected in Q4 [5] - The company noted a stronger market presence in the Upper Midwest, while being modestly insulated from softer markets in the Southeast [7] - OSB prices reached their lowest levels in 20 years, significantly impacting the segment's performance [9] Company Strategy and Development Direction - The company aims to drive growth, gain market share, and deliver product innovation while generating shareholder value [4] - Integration of operations under a chief commercial officer and chief operating officer structure is expected to enhance sales synergies and operational efficiency [10] - The company plans to invest approximately $400 million in capital expenditures for 2026, focusing on sustaining maintenance and strategic growth [22] Management's Comments on Operating Environment and Future Outlook - Management acknowledged affordability challenges due to tariffs, economic policy uncertainty, and deteriorating consumer confidence [4] - The company anticipates a difficult first quarter in 2026, with expected volume declines of 15%-20% and a weaker order file [20] - Despite current challenges, management remains confident in the long-term growth potential of the SmartSide product line and its market share gains [23] Other Important Information - The company achieved a total incident rate of 0.62 in 2025, earning the APA's Safest Company Award for the third consecutive year [11] - The company has over $1 billion in liquidity, with a cash balance of $292 million and an undrawn revolver of $750 million [17] Q&A Session Summary Question: What factors are influencing LP siding revenue guidance? - Management expects improvement in shed demand to be the dominant factor, alongside overall housing normalization [26][27] Question: Are there risks of a shift to lower-cost siding materials? - Affordability remains a headwind, with some movement towards vinyl, but the company believes in the value of its SmartSide offerings [28][29] Question: What is the demand outlook for the ExpertFinish product? - ExpertFinish continues to outperform due to macro trends, and the company has come off allocation due to operational improvements [31][32] Question: How is the competitive environment in siding evolving? - The company is gaining share across segments and remains optimistic about opportunities in new construction and repair remodel [40][41] Question: What is the outlook for OSB demand and capacity management? - The company is focused on matching supply with demand and is optimistic about a favorable pricing environment due to competitor mill closures [67]

Cash?[Chris MacDonald | May 14, 2025 at 4:38 PM EDT Investors around the world have received some rather incredible news this past week. Berkshire Hathaway (NYSE:BRK-B) CEO Warren Buffett announced at his…]## 3 Reasons why Berkshire Hathaway Looks Like a Buy Before January 1[Chris MacDonald | Dec 10, 2025 at 9:21 AM EST Followers of Warren Buffett may bemoan is leave as CEO of Berkshire Hathaway (NYSE:BRK-B) at the end of this year. I know…]## Playing for Legacy: Buffett's Big Bet on Alphabet Could Be His B ...

Financial Data and Key Metrics Changes - Allegion reported Q4 revenue exceeding $1 billion, marking a 9.3% increase compared to 2024, with organic revenue rising 3.3% [9] - Adjusted earnings per share (EPS) for Q4 was $1.94, an increase of 4.3% year-over-year [10] - Year-to-date available cash flow was $685.7 million, up 17.6% from the previous year [13] Business Line Data and Key Metrics Changes - The Americas segment generated revenue of $795.5 million, up 6.1% reported and 4.8% organically, driven by non-residential business growth [10][11] - The international segment reported revenue of $237.7 million, a 21.5% increase reported but down 2.3% organically, with acquisitions contributing significantly to revenue growth [12] Market Data and Key Metrics Changes - Demand in the U.S. residential market was softer than expected, with a decline in revenue, while the non-residential market showed resilience [4][11] - International growth was primarily driven by electronics, particularly in the DACH region, despite sluggish mechanical markets [35] Company Strategy and Development Direction - Allegion's strategy focuses on profitable growth through organic investments and acquisitions, with a disciplined approach to capital allocation [7][54] - The company aims to maintain its position as a leading player in security and access, with ongoing investments in innovation and product offerings [5][7] Management's Comments on Operating Environment and Future Outlook - Management anticipates continued growth in non-residential markets in the Americas, while expecting softness in residential markets to persist into 2026 [15] - The company projects total revenue growth of 5%-7% and organic growth of 2%-4% for 2026, with a focus on electronics outpacing mechanical growth [16][18] Other Important Information - Allegion paid $175 million in dividends in 2025 and announced its 12th consecutive annual increase in dividends [8] - The company remains committed to a balanced capital deployment strategy, including share repurchases and investments in growth [7][54] Q&A Session Summary Question: Can you elaborate on the residential market performance in Q4? - Management noted that the residential market ended the year softer than anticipated, with no immediate pricing adjustments made in response to demand softness [22][24] Question: What is the outlook for price and volume growth in the Americas? - Management expects both price and volume growth, with a greater emphasis on pricing for 2026, and anticipates seasonal revenue patterns similar to previous years [25][26] Question: How are margins being maintained despite higher costs? - Management highlighted contributions from pricing, productivity, and acquisition synergies, with expectations for positive margin expansion in 2026 [32][34] Question: What is the current status of the M&A pipeline? - The M&A pipeline is active, with a focus on strategic acquisitions that align with the company's core portfolio and growth objectives [47] Question: How is the Interflex business performing? - The Interflex business is performing well, with growth expected as resources are allocated to expand its offerings across Europe [56][57]

Allegion (NYSE:ALLE) Q4 2025 Earnings call February 17, 2026 08:00 AM ET Speaker6Good day, everyone. My name's Stefan, and I'll be your conference operator today. At this time, I'd like to welcome you to the Allegion fourth quarter and full year earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there'll be a question and answer session. If you would like to ask a question during this time, and if you've joined via the webinar, please use the Rais ...

At Escondida, Henry said BHP raised copper production guidance for this year and next, and remains on track to meet full-year guidance across the rest of the business. He also highlighted the role of the BHP Operating System (BOSS) in enabling teams to identify and act on improvement opportunities, and said it has helped the company meet production and unit cost guidance more reliably than competitors.Henry said BHP set operational records in copper and iron ore during the half, “and we did it safely.” He n ...

Financial Data and Key Metrics Changes - The company's underlying EBITDA grew by 25%, with an increased margin of 58% [10] - Underlying attributable profit reached $6.2 billion, and return on capital employed was 24%, both significantly up from the previous year [10] - An interim dividend of $0.73 per share was declared, representing a 46% increase half-on-half, with a total half-year dividend of $3.7 billion and a payout ratio of 60% [4][10] Business Line Data and Key Metrics Changes - Copper business generated a record $8 billion of EBITDA, accounting for over half of the group total, with a margin of 66% [11] - Production in copper increased by 2%, while gold production rose by 12% in Copper South Australia, leading to a more than 50% reduction in unit costs [12] - Western Australia Iron Ore achieved record first-half production and shipments, with C1 costs up only 1% to $17.66 per ton, maintaining its position as the lowest-cost major iron ore producer globally [12] Market Data and Key Metrics Changes - Global demand for copper is projected to grow by around 70% between 2021 and 2050, driven by traditional economic growth, energy transition, and increased data center needs [22] - The company expects to generate around $60 billion in attributable free cash flow over the next five years, even in a prolonged low-price environment [13] Company Strategy and Development Direction - The company's strategy focuses on investing in highly attractive commodities, operating world-class assets, and maintaining disciplined capital allocation [4][8] - Plans to grow copper production by around 40% by 2035, with a capital-efficient, predominantly brownfield growth approach [21] - The company aims to unlock up to $10 billion in capital for reinvestment into higher-returning opportunities and increased shareholder returns [4][16] Management's Comments on Operating Environment and Future Outlook - The management expressed confidence in the business's ability to thrive amid favorable commodity demand and supportive policy environments, particularly in China and India [18][19] - The company is well-positioned to benefit from tight supply and strong fundamentals in the commodities market [19] Other Important Information - The company has made significant progress in its capital allocation framework, including a valuable silver streaming agreement related to Antamina's future silver production, unlocking $4.3 billion in cash [14][15] - The company is advancing its plans for the Jansen Potash asset, expected to deliver around $1 billion of EBITDA per year per stage, with margins above 60% [21] Q&A Session Summary Question: What is the outlook for copper production growth? - The company has raised production guidance for financial year 2026 and 2027, expecting to deliver over 500,000 more tons over the next five years compared to previous estimates, which could result in an additional $5 billion of EBITDA [23][24] Question: How does the company plan to manage costs amid increasing competition? - The company has maintained its position as the world's lowest-cost major iron ore producer and aims to reduce costs further while increasing production volumes [20]

Core Insights - The article emphasizes the importance of a well-diversified investment portfolio, recommending a foundation based on a high-quality low-cost S&P 500 fund [1] - It suggests an overweight position in the technology sector for investors who can handle short-term risks, indicating that this sector is in the early stages of a long-term bull market [1] - For dividend income, the article advises considering large oil and gas companies that offer strong dividend yields and growth, reflecting the author's background in the oil and gas industry [1] Investment Strategy - The recommended investment strategy includes a top-down capital allocation approach tailored to individual investor circumstances such as age, risk tolerance, income, and financial goals [1] - Suggested investment categories include S&P 500, technology, dividend income, sector ETFs, growth, speculative growth, gold, and cash [1]

Our reserves are at a record 55.4 million ounces, up 2%. Our resources are at a record 47.1 million ounces, up almost 10%, and our inferred ounces are at a record 41.8 million ounces, up a remarkable 15.5%. 2025 was an exceptional year, and our near-term prospects look even better. But the real story this morning, the real excitement, is not in looking back or even the next three years. The real excitement this morning is that Agnico Eagle Mines Limited is in the best position we have ever been in, and we a ...