Western Midstream Partners, LP (NYSE:WES – Get Free Report)’s stock price gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $43.90, but opened at $40.51. Western Midstream Partners shares last traded at $41.3090, with a volume of 1,195,836 shares trading hands. Get Western Midstream Partners alerts: The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimat ...

Financial Data and Key Metrics Changes - The company reported earnings of $3.37 per share for 2025, an increase of $0.20 per share compared to 2024, or $0.33 per share higher when adjusted [5][17] - Adjusted earnings for 2024 were $3.04 per share, compared to $3.37 per share for 2025, representing a 10.9% increase [6][17] - Consolidated revenue for the fourth quarter increased by $21.2 million compared to 2024, with water segment revenue increasing by $17.4 million due to new rates [12][13] Business Line Data and Key Metrics Changes - Golden State Water reported earnings of $0.50 per share for Q4 2025, down from $0.52 per share in 2024, but adjusted earnings increased by $0.11 per share due to new water rates and lower interest expenses [10] - The electric segment reported earnings of $0.11 per share for Q4 2025, down from $0.13 per share in 2024, but adjusted earnings increased by $0.04 per share due to rate increases [11] - ASUS contributed earnings of $0.16 per share for Q4 2025, up from $0.11 per share in the same quarter last year, reflecting higher construction activities [12][35] Market Data and Key Metrics Changes - The company invested $210.9 million in infrastructure at regulated utilities in 2025, reflecting strong execution of its capital plan [6] - ASUS was awarded $29.4 million in new capital upgrade construction projects during 2025, expected to be completed through 2028 [8][35] Company Strategy and Development Direction - The company aims to expand its regulated water operations and has completed transactions to own and operate water and wastewater systems for new planned communities [6][7] - The company is preparing for its next water rate case, expected to be filed by July 1, 2026, transitioning to a modified rate adjustment mechanism [20][21] - The company raised its quarterly cash dividend by 8.3%, marking the 71st consecutive year of annual dividend increases [8][36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the regulatory outcomes and the ability to invest in utility infrastructure for reliable services [5] - The company noted a nearly 4% decrease in water consumption compared to adopted levels, but this did not materially impact earnings due to favorable water supply source mix [21] - Management projected ASUS to contribute $0.63-$0.67 per share in 2026, indicating confidence in competing for new military base contract awards [36] Other Important Information - The company raised proceeds of $67 million under its at-the-market offering program during the year, with a remaining balance of $40.7 million available [19] - The company anticipates a robust growth in its rate base, with a compound annual growth rate of 11.3% from 2021 to 2026 [29] Q&A Session Summary - There were no questions during the Q&A session, and the call concluded without any inquiries from participants [38]

Stengel said 2025 was shaped by tariffs, global trade policy shifts, interest rates, and a cautious consumer. Total company sales were $24.3 billion , up 3.5% year over year. He cited a third consecutive year of gross margin expansion driven by pricing, sourcing, and acquisitions, and said restructuring and cost actions delivered about $175 million of benefit in 2025, above the company’s expected range of $110 million to $135 million.Stengel described the future automotive company as competing in an over $2 ...

Financial Data and Key Metrics Changes - For the year 2025, the company reported diluted earnings per share of $6.55, a decrease of 9% from the previous year [5][18] - The company ended 2025 with $386 million in cash, maintaining a strong balance sheet and ample liquidity [20] - The company is initiating its 2026 diluted earnings per share guidance range with a midpoint of $5.42 [6][23] Business Line Data and Key Metrics Changes - Electric segment earnings increased over 7% year-over-year, driven by recovery of increased rate base investments and higher sales volumes [18] - Manufacturing segment earnings decreased by 16% year-over-year, primarily due to lower sales volumes and higher SG&A expenses [19] - Plastic segment earnings decreased by 15% year-over-year, largely driven by lower average sales prices [21] Market Data and Key Metrics Changes - The company’s electric rates remained well below the national and regional average, with 2025 residential electric rates being 34% below the national average [13] - The end market demand for the manufacturing segment faced headwinds, particularly in lawn and garden and agriculture sectors [14][15] Company Strategy and Development Direction - The company is committed to a customer-focused growth plan, with a reaffirmed five-year capital spending plan totaling $1.9 billion [24] - The company is increasing investments in renewable generation and battery storage, including a new battery storage project expected to be operational in 2028 [10][24] - The company targets a long-term earnings per share growth rate of 7%-9%, aiming for a total shareholder return of 10%-12% [28] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the electric segment's growth, expecting a 14% increase in earnings in 2026 due to higher returns from increased average rate base [21] - The company acknowledged challenges in the manufacturing segment but noted improvements in certain end markets [19][23] - Management highlighted the importance of strategic diversification to provide long-term benefits to customers and investors [29] Other Important Information - The company has a history of uninterrupted dividend payments for 88 consecutive years, with a recent 10% increase in dividends [5] - The company is facing competition from low-cost importers in the plastics segment, impacting pricing and sales [15][27] Q&A Session Summary - There were no questions during the Q&A session, and the call concluded without any inquiries from participants [31][32]

Key Takeaways Service and parts revenues hit records, boosting dealer profitability amid fleet aging.Luxury dealership acquisitions, including Ferrari, expand high-margin portfolio.Supply constraints, tariffs, and soft premium demand challenge near-term dealer results.Penske Automotive Group (PAG) entered 2026 with a solid financial foundation and diversified operations, including high-margin service, parts, and luxury dealership segments. While acquisitions and steady affiliate earnings supported growth, n ...

Valued at a market cap of $73 billion, General Motors is among the largest automobile companies in the world. The Detroit automaker recently announced a 20% dividend bump alongside a fresh $6 billion buyback program after beating Wall Street's fourth-quarter earnings forecasts. GM stock surged on the news and is now up close to 70% over the past 12 months. The iconic car maker has rewarded investors who stuck with the company through a year of aggressive restructuring and billion-dollar write-downs. It ...

Financial Data and Key Metrics Changes - FLEX LNG reported revenues of $87.5 million for Q4 2025, or $85 million excluding EUA related to the emission trading system, with a net income of $21.6 million, resulting in an earnings per share of $0.40 [2][11] - Adjusted net income for Q4 was $23.3 million, or adjusted earnings per share of $0.43 [2] - For the full year 2025, revenues reached $340 million, with an adjusted EBITDA of $251 million, aligning with guidance [5][11] - The cash balance at year-end was $448 million, with no debt maturing before 2029 [4][12] Business Line Data and Key Metrics Changes - The fleet averaged TCE (Time Charter Equivalent) of $71,100 per day for Q4, with a full year TCE of $72,000 per day [2][5] - In 2025, two vessels were traded in the spot market, while four drydockings were completed [5] - For 2026, guidance indicates revenues between $310 million and $340 million, with expected TCE around $65,000-$75,000 per day [3][8] Market Data and Key Metrics Changes - Global LNG exports rose 4% year-over-year in 2025, with Europe leading demand, while U.S. exports increased by 25% [14] - European LNG imports surged by 24% year-over-year, reinforcing its role as a key balancing market [14][16] - In contrast, China reduced its LNG imports by 15% from 2024, relying more on domestic production [15][16] Company Strategy and Development Direction - FLEX LNG maintains a robust financial position with a solid contract backlog and a focus on long-term charters [4][7] - The company is optimistic about future market conditions, anticipating strong demand due to new LNG export volumes and geopolitical uncertainties [6][19] - The board declared a quarterly dividend of $0.75 per share, marking the 18th consecutive dividend [4][9] Management Comments on Operating Environment and Future Outlook - Management noted that the spot market is expected to remain volatile in 2026, with modest earnings expectations from spot-exposed vessels [6][8] - The company highlighted the importance of maintaining a disciplined approach to new ship orders, focusing on existing fleet quality [26][28] - The outlook for LNG demand in Europe remains strong, with expectations of high buying requirements in the coming months [17][19] Other Important Information - The company completed drydockings in 2025 significantly below budget, allowing for more revenue-generating days [10] - The average operational expenditure (OpEx) per day for 2025 was $15,800, slightly above guidance [11] - The interest rate swap portfolio has generated unrealized and realized gains of around $132 million since January 2021 [13] Q&A Session Summary Question: Can you provide more details on the upcoming options for the fleet? - Management indicated that they are awaiting decisions on options due to be declared during 2026, noting that these will not significantly impact the fleet portfolio [22][23] Question: How should the increased market exposure be viewed regarding future dividend payments? - Management stated that dividend decisions are made at each board meeting, emphasizing a solid financial position and large contract backlog to support dividends [24] Question: Will the company order new ships given the current market exposure? - Management expressed a disciplined approach to ordering new ships, preferring to wait for contracts before making new orders [26][27]

Core Viewpoint - dsm-firmenich has agreed to divest its Animal Nutrition & Health (ANH) business to CVC Capital Partners for an enterprise value of approximately €2.2 billion, which includes an earnout of up to €0.5 billion, while retaining a 20% equity stake in the divested companies [1][2]. Group 1: Transaction Details - The divestment of ANH follows the sale of Feed Enzymes activities to Novonesis for €1.5 billion in 2025, marking a strategic shift for dsm-firmenich to focus solely on consumer sectors in nutrition, health, and beauty [2]. - The total enterprise value of ANH, including the previous sale, amounts to €3.7 billion, reflecting a 10x EV/Adjusted EBITDA multiple [2][5]. - dsm-firmenich expects to receive approximately €1.2 billion post-transaction, with an estimated €0.6 billion in net cash proceeds and a vendor loan note of €0.1 billion [5][12]. Group 2: Business Structure and Operations - ANH will be divided into two standalone companies: the "Solutions Company" and the "Essential Products Company," both based in Kaiseraugst, Switzerland [5]. - The Solutions Company will focus on Performance Solutions, Premix, and Precision Services, while the Essential Products Company will handle Vitamins, Carotenoids, and Aroma Ingredients [5]. - dsm-firmenich will enter into a long-term supply agreement for vitamins with the Essential Products Company to ensure continuity in supply for human and pet food applications [5]. Group 3: Financial and Strategic Implications - The transaction is expected to result in a non-cash impairment of around €1.9 billion in 2025 before taxes, with additional cash tax and transaction costs of €0.2 billion anticipated in 2026 [12]. - dsm-firmenich plans to initiate a share repurchase program worth €0.5 billion in Q1 2026 and aims to maintain a stable dividend of €2.50 per share, with a policy of progressively increasing dividends over time [3][4]. - The CEO of dsm-firmenich emphasized that this divestment represents the final step in their strategic roadmap, aiming to accelerate growth and create long-term value for stakeholders [7].

Core Insights - Tyson Foods shareholders approved executive compensation, stock incentive plan amendments, and elected directors with a clear majority of votes cast [1][5][11] - The company reported fiscal 2025 sales of $54.4 billion, reflecting a 2.1% increase from the previous year [11] - Tyson Foods emphasized its strong brand portfolio and growing consumer demand for protein products [13][14] Shareholder Meeting Outcomes - Shareholders approved the compensation for named executive officers and the amendment of the Stock Incentive Plan [1][5] - All nominated directors were elected with a clear majority [1][5] - Three shareholder proposals regarding additional disclosures were defeated by a clear majority [5][6] Financial Performance - CFO reported a significant improvement in profitability, with operating cash flow of $2.2 billion and capital expenditures of $978 million [11][12] - The company returned $893 million to shareholders through dividends and share repurchases, with an increase in the annual dividend per Class A share to an expected $2.04 for fiscal 2026 [12] Brand and Market Position - CEO highlighted Tyson as a leader in protein production, stating it produces one in every five pounds of chicken, beef, and pork in the U.S. [13] - Tyson's brands, including Tyson, Jimmy Dean, and Hillshire Farm, are gaining market share and outperforming the broader food category [14] Board Composition - New board members include Sarah Bond from Microsoft and family members John Randall and Olivia, representing the next generation of leadership [3]

Fourth Quarter 2025 Results February 5, 2026 Agenda Today's Speakers Q4 2025 RESULTS │ 2 Mark Hill President and CEO Graham Shuttleworth Senior EVP & CFO 1 Q4 2025 Highlights 2 Safety & Health 3 Operational Highlights 4 Financial Highlights 5 Capital Allocation 6 Regional Results 7 Guidance 8 Reserves & Resources Cautionary Statement on Forward-Looking Information Certain information contained or incorporated by reference in this presentation, including any information as to our strategy, projects, plans or ...