Financial Data and Key Metrics Changes - The company reported earnings of $0.80 per share in Q4 and $2.77 per share for the full year, marking the strongest net income in its history [7][8] - Total loans grew by 1% quarter-over-quarter and 5% year-over-year, with C&I loans being a primary growth driver [7][8] - Net interest income (NII) reached a record $310 million in Q4, up 15% for the year, with a net interest margin (NIM) of over 3% for the year [8][10] - The return on average tangible common equity increased to over 15% in Q4 [9] Business Line Data and Key Metrics Changes - C&I loans grew by over $1.2 billion in 2025, with a 2% increase in Q4 alone [7][8] - Core customer deposits increased by nearly $700 million in Q4 and $1 billion for the year, representing a 3.5% growth rate [8][20] - Non-interest income for Q4 was $79 million, down slightly from Q3 but up from the previous year, driven by growth in wealth management and card fees [25] Market Data and Key Metrics Changes - The company is expanding its presence in major metropolitan markets, including Omaha and the Twin Cities, with a focus on organic growth [6][14] - The acquisition of American National Corporation is expected to enhance market share and growth opportunities in these regions [5][6] Company Strategy and Development Direction - The company aims to maintain a focus on organic growth while managing a low-risk profile, with plans for additional investments in 2026 [6][14] - Strategic investments since 2021 have transformed the company's return profile, with a significant increase in C&I loans and a decrease in low-yielding mortgage loans [10][11] - The company plans to increase marketing spend by over 100% in key markets to accelerate household growth [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth momentum heading into 2026, supported by strong loan pipelines and a disciplined credit approach [7][10] - The economic outlook remains resilient despite higher interest rates, with expectations of continued loan growth and profitability [29][30] Other Important Information - The company has maintained a disciplined approach to credit, with low charge-off rates and improving asset quality [9][30] - Capital ratios increased, with the tangible common equity ratio at 8.29% and the CET1 ratio at 10.49% [28] Q&A Session Summary Question: Can you provide thoughts on non-interest income guidance? - Management indicated that they are still in the approval process for the American National acquisition and will provide updates once more information is available [36][38] Question: What are the expected impacts of investments in 2026? - Management expects a 3% growth in expenses while making strategic investments to support growth in major metropolitan markets [40][41] Question: How is the company managing its loan and deposit growth? - Management noted that the company is seeing significant loan growth and deposit production, particularly in C&I loans, and expects this trend to continue [52][55] Question: What is the outlook for capital management and potential buybacks? - The primary focus remains on organic growth, with capital reserved for growth opportunities rather than buybacks at this time [75][78] Question: Are there any stressed portfolio verticals or geographies? - Currently, there are no significant concerns, and the company is monitoring the economic environment closely [78][80]

Financial Data and Key Metrics Changes - The company reported earnings of $0.80 per share in Q4 and $2.77 per share for the full year, marking the strongest net income in its history [7][8] - Total loans grew by 1% quarter-over-quarter and 5% year-over-year, with C&I loans being a primary growth driver [7][8] - Net interest income (NII) reached a record $310 million in Q4, up 15% for the year, while the net interest margin (NIM) was above 3% for the year, 50 basis points higher than 2020 [8][10] Business Line Data and Key Metrics Changes - C&I loans grew by over $1.2 billion in 2025, with a 2% increase in Q4 alone [7][8] - Core customer deposits increased by nearly $700 million in Q4 and $1 billion for the year, representing a 3.5% growth rate year-over-year [8][20] - Non-interest income for Q4 was $79 million, down slightly from Q3 but up from the previous year, supported by growth in wealth management and card fees [25][26] Market Data and Key Metrics Changes - The company is expanding its presence in major metropolitan markets, including Omaha and the Twin Cities, where it aims to deepen its market share [6][14] - The acquisition of American National Corporation is expected to enhance growth prospects in these markets [5][6] Company Strategy and Development Direction - The company completed major investments from its strategic plan in March 2025, positioning it for growth in 2026 and beyond [3][4] - Plans for 2026 include significant investments in marketing and hiring to accelerate organic growth in key markets [16][17] - The focus remains on high-quality commercial relationships and maintaining a low-risk profile [6][7] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's momentum heading into 2026, citing strong organic growth and profitability [7][33] - The company anticipates continued loan growth of 5%-6% and core customer deposit growth of 5%-6% in 2026, excluding the impact of the American National acquisition [21][19] Other Important Information - The efficiency ratio improved, decreasing by over 700 basis points from 2020 to 2025, indicating better cost management [11] - The company maintained a strong capital position, with a TCE ratio of 8.29% and a CET1 ratio of 10.49% [28] Q&A Session Summary Question: Non-interest income guidance - Management indicated that they do not have updates on financials related to the American National acquisition but are optimistic about the strategic alignment of the franchises [36][38] Question: Investments in key cities for 2026 - Management confirmed a 3% expense growth target and emphasized the importance of maintaining a balance between investments and cost reductions [40][41] Question: Loan and deposit growth expectations - Management expects significant loan growth from new hires and a strong pipeline, with a forecast of $1.2 billion in C&I growth for 2026 [44][45] Question: Capital management and buybacks - The primary focus remains on organic growth, with capital reserved for business investments rather than buybacks at this time [75][78] Question: Credit quality concerns - Management reported no significant stress in portfolios currently, with positive signs in commercial real estate paydowns [79][80] Question: Deposit mix changes - Management anticipates a shift towards demand deposit accounts as they focus on acquiring more households and commercial relationships [92][93]

Financial Data and Key Metrics Changes - The company reported earnings of $0.80 per share in Q4 and $2.77 per share for the full year, marking the strongest net income in its history [6][30] - Total loans grew by 1% quarter-over-quarter and 5% year-over-year, with C&I loans being a primary growth driver [6][7] - Net interest income (NII) reached a record $310 million in Q4, up 15% for the year, with a net interest margin (NIM) of over 3% for the year [8][10] Business Line Data and Key Metrics Changes - C&I loans grew by over $1.2 billion in 2025, with a 2% increase in Q4 alone [4][7] - Core customer deposits increased by nearly $700 million in Q4 and $1 billion for the year, reflecting a 3.5% growth rate year-over-year [8][19] - Non-interest income for Q4 was $79 million, down slightly from Q3 but up from the previous year, driven by growth in wealth management and card fees [24] Market Data and Key Metrics Changes - The company is expanding its presence in major metropolitan markets, including Omaha and the Twin Cities, where it aims to deepen market share [5][13] - The acquisition of American National Corporation is expected to enhance growth prospects in these markets [5][30] Company Strategy and Development Direction - The company completed major investments from its strategic plan in March 2025, positioning it for growth in 2026 and beyond [3][4] - Plans for 2026 include increasing marketing spend by over 100% in key markets to drive household growth [15] - The focus remains on high-quality commercial relationships and maintaining a low-risk profile while expanding [6][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth momentum and profitability, anticipating continued organic growth in 2026 [6][30] - The economic outlook includes expectations of two Fed rate cuts in 2026, which could impact net interest income positively [22][30] Other Important Information - The company has maintained a disciplined approach to credit, with low charge-offs and improving asset quality [9][29] - Capital ratios increased, with the tangible common equity ratio at 8.29% and the CET1 ratio at 10.49% [26] Q&A Session Summary Question: Non-interest income guidance excluding American National - Management indicated that they do not have updates on financial impacts from the acquisition yet, but they are optimistic about the strategic alignment of the franchises [31][32] Question: Investments in targeted cities for 2026 - Management confirmed that they expect to see a significant increase in marketing expenses in Omaha and Minneapolis, with hires for relationship managers already underway [34][36] Question: Loan and deposit growth expectations from new hires - Management expects that new hires will contribute to loan growth in 2026, with a forecast of $1.2 billion in C&I growth [37] Question: Capital considerations for buybacks - The primary focus remains on organic growth and executing the acquisition, with capital decisions to be made based on future profitability [49] Question: Credit metrics and portfolio concerns - Management reported no significant stress in the portfolio, with positive signs in commercial real estate paydowns [51]

Core Insights - The company reported solid second-quarter results for fiscal 2026, with revenue flat year over year at $147 million, while profitability and free cash flow improved [5][16]. - The Display Solutions segment saw a slight revenue decline year over year but improved order trends and backlog, particularly in the refueling, convenience store, and casual dining sectors [1][3][21]. - The Lighting segment achieved a 15% year-over-year sales growth, marking the third consecutive quarter of double-digit growth, driven by new product introductions and strong project shipments [2][17]. Display Solutions - The Display Solutions segment experienced a year-over-year revenue decline due to strong prior-year comparisons, but orders improved sequentially and were up year over year, indicating a healthier backlog [1][3]. - The company is expanding its presence beyond quick-serve restaurants into casual dining and premium food services, with project values per site ranging from $250,000 to $1 million [6][19]. - The grocery vertical has returned to normalized demand levels after a previous surge, with Q2 orders increasing double digits year over year, resulting in a strong book-to-bill ratio of 1.2 [20][19]. Lighting - The Lighting segment reported a 15% year-over-year sales growth, following an 18% growth in the first quarter, with adjusted operating income increasing by 29% [2][17]. - The growth in Lighting is attributed to the addition of aluminum poles to the product line, increased large project shipments, and a successful national account strategy [2][17]. - Orders in the Lighting segment were up approximately 10% year over year, contributing to a book-to-bill ratio above one, indicating continued confidence in future performance [2][17]. Financial Performance - Adjusted EBITDA increased year over year to $13.4 million, with free cash flow strong at $23 million, allowing the company to reduce total debt by $22.7 million during the quarter [12][13][16]. - The company ended the quarter with a net leverage ratio of 0.4, providing significant capital allocation flexibility for future investments and acquisitions [13][16]. - The company expects to maintain above-market growth, supported by improving order trends and backlog across key vertical markets [14][55]. Strategic Initiatives - The company is focused on integrating its teams and breaking down silos to enhance cross-selling opportunities and improve operational efficiency [9][10]. - There is a commitment to talent management and empowering employees to foster a unified organizational culture [8][11]. - The company is optimistic about the potential in the casual dining and premium food services sectors, with larger project sizes and cross-selling opportunities expected to drive growth [38][62]. Market Outlook - The company anticipates continued elevated activity levels into fiscal and calendar year 2027, driven by strong customer engagement and planning discussions [7][22]. - The competitive environment in the convenience store and grocery markets is seen as favorable, with new entrants and existing players investing in customer experience and branding [56][59]. - The company is exploring M&A opportunities, with a focus on cultural fit and operational synergies, while remaining selective in its acquisition strategy [59][60].

Core Viewpoint - Aryzta is expanding into the Portuguese market with a €40 million ($46.8 million) investment to build a new bun plant near Lisbon, expected to be operational by 2028 [1] Group 1: Investment and Expansion - The new facility in Portugal will enhance supply chain optimization and customer service across the Iberian Peninsula, complementing Aryzta's existing bun bakery in Spain [2] - The plant will primarily supply quick-service restaurants (QSR), including existing partnerships with major fast-food chains [3] Group 2: Business Strategy and Leadership - Under interim CEO and chairman Urs Jordi, Aryzta is taking decisive actions to reposition the business for profitable growth and improved performance by 2026 [3] - The company has been engaged in asset disposals since 2020 to reduce debt, including the sale of its take-and-bake pizza business and exit from frozen food retail [4][5] Group 3: Financial Outlook - Aryzta anticipates mid-single-digit organic growth for the year, with an EBITDA expected to exceed €305 million [7] - The company is also ramping up new production lines in Germany, Malaysia, and Switzerland, contributing to its positive growth outlook [6][7]

Financial Data and Key Metrics Changes - The tangible book value increased to $26.85 per share, representing over 13% annualized growth quarter over quarter and 17% for the year [5] - Operating earnings for the quarter were $13.7 million or $0.81 per diluted share, with record annual earnings exceeding $51 million [5] - Total operating revenue for the quarter was $53.3 million, with pre-provision net revenue growing from $14.5 million in Q4 2024 to a record $20.9 million in Q4 2025, a 44% year-over-year increase [6] Business Line Data and Key Metrics Changes - Loan growth was 13% annualized quarter over quarter, with an average portfolio yield of 6.08% [9] - Deposits increased by 8% annualized, with core deposit balances growing by $626 million or 14% for the year, excluding brokered CD activity [9] - Operating non-interest income reached $8.2 million, driven by elevated mortgage banking revenue and customer swap fees [15] Market Data and Key Metrics Changes - Non-brokered deposits grew by $214 million, nearly 18% annualized, with interest-bearing deposit costs declining to 2.79% [11] - The net interest margin increased by 13 basis points to 3.38%, primarily due to a reduction in funding costs [12] - Non-performing assets comprised only 0.22% of total assets, indicating strong asset quality [14] Company Strategy and Development Direction - The company plans to expand into the Columbus, Georgia market, leveraging existing relationships and market opportunities [10] - The focus remains on organic growth, with a target of high single-digit growth rates for 2026 [19] - The company aims to maintain a strong liquidity position while reducing reliance on expensive wholesale funding [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a $4 EPS run rate by the end of 2026, emphasizing the importance of continued execution and organic growth [21] - The company anticipates maintaining strong credit quality and a stable operating environment, with expectations for net interest margin to remain in the 3.4%-3.45% range [13][19] - Management highlighted the importance of recruiting talent that aligns with the company culture to support growth initiatives [24] Other Important Information - The allowance for credit losses was 0.94% of total loans, with expectations for a slight increase as a new allowance model is implemented [15] - Operating efficiency ratio improved to 60%, down from 64% in the previous quarter, reflecting continued expense management [16] - The company remains well-capitalized, with total consolidated risk-based capital at 12.67% and tangible common equity ratio improving to 7.9% [17] Q&A Session Summary Question: Sustainability of Loan Growth in 2026 - Management indicated that while double-digit growth was achieved in 2025, they expect to target high single-digit growth rates in 2026, estimating around 8%-9% [23] Question: Core Expense Growth Rate - The company expects overall expense growth to be around 5% year over year, targeting a range of $34.5-$35 million for the year [27] Question: Net Expansion and Loan Repricing - Management believes that as long as rates remain stable, net expansion can continue, with expectations for net interest margin to reach around 3.50% by year-end [33][40] Question: Hiring Plans in Columbus - The company plans to recruit talent in Columbus without a material impact on expense growth, balancing hiring with production [41] Question: M&A Strategy - Management reiterated that they are focused on organic growth and would only consider M&A if a unique opportunity arises [43]

Financial Data and Key Metrics Changes - Core EPS for Q4 2025 was $0.79, representing an 88% increase year-over-year, driven by record total revenues of $124 million [5][23] - NIM increased by 10 basis points to 311 basis points, with average earning assets up over $650 million on a linked-quarter basis [6][24] - Core deposits rose by $1.2 billion year-over-year, with a significant liquidity position allowing for future lending opportunities [6][7] Business Line Data and Key Metrics Changes - Business loans grew by over $175 million on a linked-quarter basis and over $500 million year-over-year, with approximately $400 million of this growth coming from new specialized industries [8][44] - Non-interest income for Q4 was $11.5 million, exceeding guidance [28] - The loan loss provision declined to $10.9 million, with the allowance to loans increasing to 91 basis points [28] Market Data and Key Metrics Changes - The company reported strong deposit growth across all channels, with total deposits up approximately $800 million versus the prior quarter [24] - Non-interest-bearing deposits reached nearly 31% of total deposits, with a goal to increase this ratio over time [66][68] Company Strategy and Development Direction - The company is focused on organic growth, with a strategy to build out its commercial banking platform and industry verticals [10][11] - Plans for 2026 include significant loan repricing opportunities and a target to operate at a sub-50% efficiency ratio [12][13] - The company aims to diversify its balance sheet and loan portfolio, expecting significant growth in both areas [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong organic growth environment and the execution of their strategy, anticipating continued momentum into 2026 [11][14] - The company highlighted a target-rich environment for lending opportunities and expects to see a path to a structurally higher NIM and enhanced earnings power over time [34][31] Other Important Information - The company has a total capital ratio of more than 16%, positioning it favorably against local peers [10][28] - The Manhattan branch is operational, with additional locations expected to open by the end of the first year [11] Q&A Session Summary Question: What industries accounted for the growth in business loan balances? - Approximately $400 million of the $500 million year-over-year growth in business loans came from new specialized industries, particularly healthcare [44] Question: What is the current loan and deposit situation in New Jersey? - About 8% to 10% of the loan portfolio is in Northern New Jersey, with a deposit-to-loan ratio of 15%-20% [46] Question: How is the deposit pipeline looking and what are the pricing strategies? - New customer acquisition requires offering high twos to low threes on money market accounts, with an overall cost of deposits around 168 basis points [51][52] Question: What is the status of the rent-regulated loan book? - The 100% rent-regulated book is around $350 million, down from $500 million two years ago, with maturities and repricings expected to be around $250 million for 2026 [58] Question: What is the strategy for deploying cash and securities? - The company is not rushing to deploy cash but is looking for opportunities in the market, with a focus on maintaining a flexible balance sheet [72][75]

Core Insights - The company reported a strong loan pipeline exceeding $1.3 billion with a weighted average interest rate between 6.25% and 6.5% [1] - Core EPS for Q4 was $0.79, marking an 88% increase year-over-year, driven by record total revenues of $124 million [3][13] - The company is focused on organic growth strategies and has successfully reduced its cost of funds while increasing non-interest-bearing deposits to 31% of total deposits [2][40] Financial Performance - Total deposits increased by approximately $800 million compared to the previous quarter, with core deposit growth of around $400 million when excluding seasonal and municipal deposits [15][40] - The net interest margin (NIM) rose to 3.11%, benefiting from a 10 basis point increase and a significant back book loan repricing opportunity [3][19] - Core cash operating expenses for Q4 were below guidance at $62.3 million, while noninterest income exceeded expectations at $11.5 million [17][24] Strategic Initiatives - The company is expanding its commercial banking platform and industry verticals, with a focus on healthcare, lender finance, and sponsor finance [8][12] - A new chief credit officer has been appointed to enhance the management of diversified commercial portfolios [10] - The company aims to reduce its commercial real estate (CRE) concentration ratio to the mid-350% area while continuing to grow business loans [22][24] Future Outlook - The company anticipates modest NIM expansion in the first half of 2026, with more substantial growth expected in the latter half due to loan repricing [18][21] - Loan growth is projected to be in the low single digits for 2026, with a flat balance sheet expected in the first half and growth in the second half [22][23] - The company is targeting a core cash operating expense range of $255 million to $257 million for 2026, reflecting the impact of new locations and banking teams [23]

Financial Data and Key Metrics Changes - The fourth quarter of 2025 saw an 8% year-over-year improvement in EPS, a 6% growth in PP&R, and a 12% increase in tangible book value per share [6][12] - Earnings for the fourth quarter were $126 million, or $1.49 per share, compared to $127 million in the third quarter [12] - The efficiency ratio improved to 54.9% for the quarter, down from 55.4% in 2024 [12][13] Business Line Data and Key Metrics Changes - Loan growth was $362 million, or 6% annualized, with strong production offsetting an increase in prepayments [9] - Fee income totaled $107 million in the fourth quarter, with growth across all categories driven by higher specialty income [13] - The company expects fee income to grow between 4%-5% in 2026, supported by core deposit account growth [13][59] Market Data and Key Metrics Changes - Deposits increased by $620 million, or 9% annualized, primarily due to seasonal activity in public fund DDA and interest-bearing accounts [9] - Interest-bearing transaction balances rose by $223 million, while retail time deposits decreased by $90 million due to maturities [10] - The company anticipates low single-digit deposit growth from 2025 levels in 2026 [10] Company Strategy and Development Direction - The company plans to hire up to 50 additional revenue-generating associates in 2026 as part of its multi-year organic growth plan [6] - A bond portfolio restructuring is expected to benefit NIM by seven basis points and improve EPS by $0.23 per share [8][16] - The company aims to maintain a balance between profitability and reliable balance sheet growth, with a focus on full relationship clients [32] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2026, citing solid capital levels, robust allowance for credit losses, and positive trends in balance sheet growth [11] - The company expects NII to increase by 5%-6% from 2025, with modest NIM expansion [16] - Management highlighted the importance of consistent balance sheet growth and maintaining strong credit quality [32] Other Important Information - The company fully exhausted its share buyback authority last quarter, impacting capital ratios, but has approved a new 5% buyback plan effective through the end of 2026 [10] - The company’s capital ratios remain strong, with a TCE ratio over 10% and a Common Equity Tier 1 ratio of 13.66% [10] Q&A Session Summary Question: Expectations for loan production versus paydowns - Management noted that loan production increased for the third consecutive quarter, with expectations for sustained funding in 2026 despite anticipated paydowns in commercial real estate [20][24] Question: Clarification on ROA target and TCE ratio - Management indicated that consistent balance sheet growth is crucial for achieving higher ROA targets, with a focus on reinvesting in the company [28][30] Question: Insights on NIM expansion - Management discussed expectations for modest NIM expansion in 2026, driven by organic balance sheet growth and the impact of the bond portfolio restructuring [39][42] Question: Confidence in hiring plans - Management expressed confidence in hiring 50 new bankers in 2026, attributing this to enhanced recruiting processes and a strong pipeline of candidates [46][52] Question: Fee income guidance - Management provided insights on fee income growth, emphasizing the impact of Sable Trust and the potential for growth in various banking segments [56][61] Question: M&A appetite - Management reiterated a focus on organic growth while remaining opportunistic regarding M&A opportunities, emphasizing a disciplined approach [62][64] Question: Credit quality and charge-offs - Management reported a resilient credit portfolio, with a decrease in non-accruals and criticized loans, and indicated potential for gradual reduction in reserves [99][102]

Summary of Sotera Health Company FY Conference Call Company Overview - **Company Name**: Sotera Health Company (NasdaqGS:SHC) - **Mission**: Safeguarding global health through its three business units: Sterigenics, Nordion, and Nelson Labs [2][3] - **Global Presence**: Over 5,000 customers in 50 countries, 3,100 employees, and 62 facilities across 13 countries [3] - **Customer Base**: Engages with 40 of the top 50 medical device companies and 9 of the top 10 pharmaceutical companies [3] Business Segments Sterigenics - **Largest Business Unit**: Represents about two-thirds of the company's revenue [4] - **EBITDA Margins**: Approximately 50% [4] - **Sterilization Methods**: 39% ethylene oxide, 49% gamma, and 12% eBeam [5] - **Service Model**: Operates as a service business, where customers drop off products for sterilization [5] Nordion - **Product Business**: World's largest provider of Cobalt-60, critical for sterilization [6] - **EBITDA Margins**: Approximately 60% [7] - **Cobalt Sourcing**: Obtains Cobalt-60 from reactors in multiple countries including China, Canada, and Russia [6] Nelson Labs - **Testing Services**: Leader in microbiological and analytical chemistry testing with about 3,000 customers [7] - **Revenue Composition**: 48% routine testing, 37% validation, and 15% advisory services [8] Financial Performance - **Revenue Growth**: Surpassed $1.16 billion in revenue, with a minimum growth of over 5% [10] - **CAGR**: 7% growth in top line and adjusted EBITDA since going public in 2020 [11] - **Free Cash Flow**: Targeting $500 million to $600 million in cumulative free cash flow from 2025 to 2027 [20] - **Leverage Ratio**: Aiming to reduce net leverage from 3.3 times to a target of 2-3 times [12] Strategic Priorities 1. **Customer Service Excellence**: Focus on providing end-to-end solutions [13] 2. **Growth Market Segmentation**: Targeting high-growth segments within med tech and pharma [14] 3. **Operational Excellence**: Enhancing free cash flow through disciplined capital deployment [15] 4. **Long-term Value Creation**: Aiming for consistent top-line growth of 5%-7% annually [17] Market Outlook - **Growth Projections**: Sterigenics expected to grow mid-single to high-single digits, Nelson Labs mid-single digits, and Nordion low-single to mid-single digits [18] - **Pricing Strategy**: Anticipating a price increase of 3%-4% across the company [30] Regulatory Environment - **NESHAP Standards**: New regulations for ethylene oxide have been extended to April 2028, impacting smaller competitors [33] - **Litigation Updates**: Favorable rulings in Georgia regarding ethylene oxide litigation, with ongoing cases in California [52][54] Investment Rationale - **Market Position**: Leader in a growing $18 billion addressable market with strong margins and cash flow [24] - **Regulatory Expertise**: Established expertise in navigating highly regulated markets [24] - **Growth Potential**: Continued investment in capacity and operational improvements expected to drive future growth [25] Conclusion - **Company Confidence**: Strong execution and commitment to delivering growth and cash flow, positioning Sotera Health as a compelling investment opportunity for the future [55]