This live blog is refreshed periodically throughout the day with the latest updates from the market.To find the latest Stock Market Today threads, click here. Happy Wednesday. This is TheStreet’s Stock Market Today for Feb. 18, 2026. You can follow the latest updates on the market here in our daily live blog. Update: 4:00 p.m. ET Closing Bell The U.S. markets are now closed. Despite a strong start to the trading day, which came on the back of news that Meta Platforms would purchase millions of NvidiaAI ...

Core Insights - The company reported a mixed performance in Q4, with total revenue down 0.4% year over year, while the building materials segment showed growth and margin expansion [4] - Adjusted EBITDA for building materials was $705 million, up 4.9% year over year, attributed to volume growth and pricing improvements [2] - The company anticipates revenue growth of 4% to 6% and adjusted EBITDA growth of 8% to 11% for 2026, including contributions from the pending PB Materials acquisition [6][15] Financial Performance - Building envelope revenue was $678 million in Q4, down 11.8% year over year, primarily due to weaker residential roofing demand [1] - Building materials revenue was approximately $2.2 billion, up 3.9%, driven by higher cement and aggregates volumes [4] - The company reported full-year revenue of $11.8 billion, up 0.9%, and adjusted EBITDA of $3.0 billion for 2025 [5] Market Demand - Data centers are highlighted as a key growth driver, with the company supporting over 30 data center projects in 2025 [7] - The commercial market is improving, expected to benefit from lower interest rates and increased investments in advanced manufacturing and logistics [8] - Residential markets remain soft, with expectations for gradual demand recovery later in the year [9] Investments and Acquisitions - The company invested $788 million in 2025 and plans to increase this to $900 million in 2026, focusing on capacity expansion and distribution capabilities [10] - The acquisition of PB Materials is expected to add over $180 million in annual revenue and is anticipated to be EPS and cash accretive in 2026 [11] Cash Flow and Balance Sheet - The company generated $1.5 billion in cash flow for 2025, reflecting a 49% cash conversion rate [5] - Net debt at year-end was approximately $3.3 billion, down more than $1.5 billion from the previous quarter, with nearly $6 billion in available liquidity [13] Shareholder Returns - A $1 billion share repurchase program has been approved, along with a proposed special one-time dividend of $0.44 per share and an annual ordinary dividend of $0.44 per share [14] 2026 Outlook - The company expects low single-digit increases in cement pricing and mid-single-digit increases in aggregates pricing for 2026 [16] - Management is targeting 70 basis points of margin expansion in 2026 through the Aspire cost and efficiency program, aiming for $250 million in full synergies by 2028 [17]

Fourth Quarter & Full Year 2025 Results February 18, 2026 $$\mathrm{~uA~}$$ Speakers Bill Christensen CEO Samantha Stoddard CFO Disclosures Certain statements in this presentation, including our guidance and business strategies, are forward- looking statements that involve risk, uncertainty and assumptions, and are based on information as of February 18, 2026. Actual results may differ materially from those set forth in such statements. For a discussion of these risks and uncertainties, you should review ou ...

Core Insights - Amrize Ltd (AMRZ) reported revenue of $2.84 billion for the quarter ended December 2025, showing no change year-over-year, with an EPS of $0.62 compared to $0 in the same quarter last year [1] - The revenue fell short of the Zacks Consensus Estimate of $2.95 billion, resulting in a surprise of -3.69%, while the EPS exceeded the consensus estimate of $0.59 by +5.98% [1] Financial Performance - The company’s revenue from Building Envelope was $678 million, below the estimated $749.82 million [4] - Revenue from Building Materials was reported at $2.16 billion, slightly below the estimated $2.2 billion [4] - Adjusted EBITDA for Building Materials was $705 million, surpassing the average estimate of $686.73 million [4] - Adjusted EBITDA for Building Envelope was $130 million, which was lower than the average estimate of $169.9 million [4] - Unallocated corporate costs showed an adjusted EBITDA of -$56 million, better than the average estimate of -$61.33 million [4] Stock Performance - Over the past month, shares of Amrize Ltd have returned +7.9%, contrasting with a -1.4% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Despite those conditions, Ringblom said LP’s Siding business grew revenue 8% for the full year and expanded margins, helped by strength in the shed segment and growth in the company’s ExpertFinish offering. He also highlighted operational and commercial changes from reorganizing under a chief commercial officer and chief operating officer structure, which he said improved synergy between the OSB and Siding go-to-market approach and enhanced best-practice sharing in operations.Chief Executive Officer Jason R ...

Core Insights - The housing market is currently weak, facing challenges such as affordability issues, low consumer confidence, and depressed commodity prices, leading to a decline in sales and starts [2][18] - Despite macroeconomic pressures, the company remains focused on growth, operational excellence, and strategic investments to enhance its competitive position [3][4][27] - The company has successfully navigated through a challenging environment by maintaining profitability and investing in technology and value-added solutions [3][4][7] Market Conditions - The housing market is characterized by more headwinds than tailwinds, with sales falling more than expected in late 2025 due to builders delaying starts to manage excess inventory [2][18] - Economists have mixed outlooks for 2026, with some predicting further declines in single-family starts while others expect modest growth amid uncertain macro conditions [2] - Commodity prices have dropped significantly, with a composite below $350 per thousand board feet as of late 2025, impacting overall market dynamics [2] Financial Performance - For Q4 2025, net sales decreased by 12% to $3.4 billion, driven by a 15% decline in single-family sales and a 20% decline in multifamily sales [18] - Gross profit for Q4 was $1 billion, a 19% decrease year-over-year, with a gross margin of 29.8%, down 250 basis points [19] - Adjusted EBITDA was $275 million, down approximately 44%, with an adjusted EBITDA margin of 8.2%, reflecting lower gross profit margins [21] Strategic Initiatives - The company invested over $110 million in new and upgraded value-added operations in 2025, focusing on enhancing capabilities and expanding its footprint [7] - A total of 25 facilities were consolidated in 2025, with a focus on maximizing operational flexibility and reducing capital expenditures [6] - The company has made 40 acquisitions since the BMC merger in 2021, representing over $2.3 billion in annual sales, indicating a strong commitment to growth through M&A [10][11] Technology and Innovation - The company is investing in digital solutions and technology to enhance customer experience and streamline operations, processing nearly $7 billion in quotes through its digital platform in 2025 [12][13] - Ongoing implementation of SAP is expected to improve operational efficiency, with plans for broader deployment in 2026 [14] - AI initiatives are being integrated to enhance estimating processes and improve sales efficiency, although headcount reductions have not been significant [69][71] 2026 Outlook - The company expects net sales for 2026 to be in the range of $14.8 billion to $15.8 billion, with adjusted EBITDA projected between $1.3 billion and $1.7 billion [23] - Gross margin for 2026 is anticipated to be between 28.5% and 30%, reflecting the ongoing challenges in the housing market [24] - Free cash flow is expected to be approximately $500 million, influenced by a shift in working capital dynamics compared to 2025 [24][22]

Core Insights - The company achieved record profitability in 2025 through the execution of 'Competitive Edge' initiatives, focusing on dynamic pricing and operational cost controls across all product lines [1] - A vertically integrated model was capitalized on to capture higher margins by pulling through upstream materials like aggregates into asphalt and ready-mix projects [1] - The geographic footprint is favorable, with population growth in Knife River states forecasted to outpace non-Knife River states by double over the next 20 years [1] Acquisitions and Market Presence - The company successfully integrated five acquisitions in 2025, including the Strata deal, which expanded its presence in high-growth mid-sized markets [1] Operational Efficiency and Culture - The company maintained a 'Life at Knife' culture that prioritized safety and employee engagement, resulting in the safest year in company history and improved operational efficiency [1] - The company navigated a fluid funding environment in Oregon by capitalizing on private sector opportunities like data centers and warehouses, while the broader West segment continued to grow [1] - 'Pit Crew' production teams were utilized to lower variable operating costs in aggregates, specifically in the Western Mountain segment [1]

Core Insights - The company achieved $48 million in savings in 2025 through productivity initiatives, focusing on supply chain optimizations and operational excellence [1] - There was a significant increase in digital platform adoption, with quotes processed rising over 130% year-over-year to nearly $7 billion by the end of 2025 [1] - Strategic mergers and acquisitions remain a key growth strategy, exemplified by the acquisition of Pleasant Valley Homes to enhance prefabricated housing solutions [1] Operational Performance - The company consolidated 25 facilities in 2025, totaling 55 over two years, to better align capacity with a soft market while maintaining a 92% on-time delivery rate [2] - Single-family builder customers are shifting towards smaller home designs and interest rate buydowns to improve affordability, leading to lower sales dollars per start [2] - A notable sales deceleration occurred in late Q4 as homebuilders delayed starts to manage excess inventory [2] Market Challenges and Future Guidance - Performance in 2025 was affected by housing affordability issues, low consumer confidence, and falling commodity prices, particularly OSB dropping below $350 per thousand board foot [3] - The guidance for 2026 anticipates flat year-over-year single-family and multifamily starts, with a stronger performance expected in the second half as inventory levels normalize [3] - Management plans to implement $100 million in cost actions for 2026, including $75 million in direct reductions and $25 million in cost avoidance across SG&A [3] - Multifamily results are projected to remain subdued until at least the latter half of 2026 due to a 9- to 12-month lag between starts and the company's first sale [3] - Free cash flow is estimated at approximately $500 million, factoring in a $300 million working capital investment in preparation for increased sales [3] - The SAP implementation will continue with a refined rollout plan in 2026, informed by pilot insights from July 2025 to enhance long-term operational efficiency [3]

Core Insights - The company reported a 12% year-over-year decline in net sales to $3.4 billion, primarily due to lower core organic sales and commodity deflation, with a sharp sales deceleration in the fourth quarter [2][5] - Core organic sales fell due to a 15% decline in single-family, a 20% decline in multifamily, and a 7% decline in repair and remodel, attributed to ongoing consumer uncertainty [1][5] - The company is managing spending and maintaining flexibility by aligning capacity, managing headcount, and reducing capital expenditures, consolidating 25 facilities in 2025 [3][5] Financial Performance - Gross profit was $1.0 billion, down 19% year over year, with a gross margin of 29.8%, down 250 basis points [8] - Adjusted EBITDA was $275 million, down about 44%, with an adjusted EBITDA margin of 8.2%, down 470 basis points [8] - Adjusted EPS decreased by 52% to $1.12 [8] Cost Management and Productivity - The company is implementing $100 million in cost actions, including $75 million in year-over-year cost reductions and $25 million in cost avoidance, primarily related to SG&A [7] - Productivity savings of $48 million were generated in 2025, mainly through targeted supply chain initiatives [9] Acquisitions and Growth Strategy - The company completed several acquisitions in late 2025 and early 2026, contributing to over $2.3 billion in annual sales since the 2021 BMC merger [10] - The acquisition of Pleasant Valley Homes is aimed at expanding the company's prefabricated component strategy [11] Technology and Digital Strategy - The company’s digital platform processed nearly $7 billion of quotes in 2025, reflecting over 130% year-over-year growth [12] - Progress was made in SAP implementation, with plans for broader deployment in 2026 [13] Cash Flow and Guidance - Fourth-quarter operating cash flow was $195 million, with free cash flow of $109 million, and full-year free cash flow of $874 million, equating to an approximately 8% free cash flow yield [14] - For 2026, the company guided net sales of $14.8 billion to $15.8 billion and adjusted EBITDA of $1.3 billion to $1.7 billion, with expectations of a gross margin of 28.5% to 30% [15] Market Outlook - The company anticipates a challenging macro environment for the first quarter, with net sales guidance of $3.0 billion to $3.3 billion [16] - Management expects a heavier contribution in the second half of 2026, with signs of stabilization in multifamily starts [17]

Key Takeaways higher sales. Vulcan reported a soft fourth quarter, with earnings and revenues missing expectations despite Aggregates-led operations and steady execution supported results, though margin pressure remained a challenge.Management stayed positive on 2026, supported by public construction strength and improving private demand.Vulcan Materials Company (VMC) reported lower-than-expected fourth-quarter 2025 results, with adjusted earnings and revenues missing the Zacks Consensus Estimate. On a year ...