GE Aerospace (GE) is a leading global provider of jet engines, turboprop engines, and integrated systems for commercial, military, business, and general aviation aircraft. It powers popular planes like the Boeing (BA) 737 and Airbus A320 through partnerships such as CFM International with Safran, while dominating aftermarket services with a massive installed base of over 49,000 commercial engines. Founded in 1892 as part of General Electric, it became independent in April 2024 after GE's breakup and is h ...

Quick Read Joby Aviation (JOBY) burns approximately $475M annually with $978.1M cash at Q3 end. Joby has roughly two years of runway. Joby raised $576M through equity in 2025 as its stock dropped 33% to $9.84. Nvidia made early investors rich, but there is a new class of 'Next Nvidia Stocks' that could be even better; learn more here. Joby Aviation (NYSE: JOBY) reports Q4 2025 results after the bell tonight, and investors should forget everything else on the income statement but cash balance. 24/7 ...

Financial Data and Key Metrics Changes - BXSL reported a net investment income (NII) of $0.80 per share, representing an 11.8% annualized return on equity, primarily from interest income [7] - The distribution of $0.77 per share was 104% covered by NII, yielding an 11.4% annualized distribution yield on NAV [7] - The net return for the year was 9.6%, outperforming the leveraged loan market by 360 basis points [7] - The net asset value (NAV) per share decreased to $26.92 from $27.15 in the previous quarter, impacted by net unrealized losses [20][21] Business Line Data and Key Metrics Changes - BXSL's portfolio increased to 316 companies across 40 industries, with 13 new credits funded and 15 add-ons completed [8] - The average loan-to-value (LTV) at underwriting was 41%, with an average spread near 500 basis points [8] - Non-accruals in the fourth quarter were 0.6% at cost and 0.5% at fair market value, up from 0.3% and 0.2% respectively in the previous year [22] Market Data and Key Metrics Changes - The U.S. leveraged finance market is approximately $5 trillion, with the institutional non-BDC channel being about $1.5 trillion [30] - BXSL's board approved a discretionary share repurchase plan for up to $250 million, indicating confidence in the market despite trading below NAV [24] Company Strategy and Development Direction - The company is focused on capitalizing on the AI and digital infrastructure investment cycle, which is expected to support growth across multiple sectors [6] - BXSL aims to maintain a defensive investment strategy by focusing on first lien, larger, private equity-owned businesses [17] - The company is exploring various capital allocation options, including new loans, share buybacks, and deleveraging [35][54] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the economic backdrop, citing resilient corporate earnings growth and strong consumer demand [5] - The company anticipates continued robust capital inflows into private credit strategies, particularly from institutional channels [6] - Management noted that the credit quality of deals remains stable, with no significant signs of spread widening [41] Other Important Information - BXSL's total portfolio investments at fair value were over $14.2 billion, with outstanding debt of $8.1 billion [20] - The company has a diverse liability profile, with an all-in cost of debt for the fourth quarter at 4.93%, down from 5.24% [26] Q&A Session Summary Question: Impact of potential slowdown in non-traded channel - Management acknowledged the importance of institutional capital and expressed confidence in remaining active in the market despite potential headwinds [30][32] Question: Considerations for share repurchase versus new investments - Management indicated that they are evaluating all options, including share buybacks and new loans, based on market conditions and liquidity [35][54] Question: Recovery rates for software companies - Management stated that software businesses in their portfolio are performing well, with strong coverage despite public market markdowns [61] Question: Strategic decisions in a discount environment - Management emphasized a preference for new primary loans over secondary market purchases, focusing on deep underwriting processes [84]

Financial Data and Key Metrics Changes - BXSL reported a net investment income (NII) of $0.80 per share, representing an 11.8% annualized return on equity, primarily from interest income [6][18] - The distribution of $0.77 per share was 104% covered by NII, yielding an 11.4% annualized distribution yield on NAV [6][18] - The net return for the year was 9.6%, outperforming the leveraged loan market by 360 basis points [6] - Net asset value (NAV) per share decreased to $26.92 from $27.15 in the previous quarter, impacted by net unrealized losses [19][25] Business Line Data and Key Metrics Changes - BXSL's portfolio increased to 316 companies across 40 industries, with 13 new credits funded and 15 add-ons completed [7][10] - The average loan-to-value (LTV) at underwriting was 41%, with an average spread near 500 basis points [7] - Non-accruals rose to 0.6% at cost and 0.5% at fair market value, up from 0.3% and 0.2% respectively in the previous year [20] Market Data and Key Metrics Changes - The U.S. leveraged finance market is approximately $5 trillion, with private credit in the institutional non-BDC channel around $1.5 trillion [29] - BXSL's credit business totals $520 billion, with investments in about 5,000 companies globally [30] Company Strategy and Development Direction - The company is focused on capital expenditure build-out in AI and digital infrastructure, which is expected to support growth across multiple sectors [5] - BXSL aims to maintain a defensive investment strategy by focusing on first lien, larger, private equity-owned businesses [16] - The company is actively evaluating capital allocation decisions between new opportunities and share repurchases [23][34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a fundamentally healthy economic backdrop, with resilient corporate earnings growth and strong consumer demand [4] - The company anticipates continued robust capital inflows into private credit strategies, particularly from institutional channels [5] - Management noted that the credit quality of deals remains stable, with high single-digit EBITDA growth across the portfolio [20][68] Other Important Information - BXSL's board approved a discretionary share repurchase plan for up to $250 million of outstanding common shares [23] - The company has $2.5 billion in total liquidity, including unrestricted cash and undrawn debt [25] Q&A Session Summary Question: Impact of potential slowdown in non-traded channel - Management indicated that the U.S. leveraged finance market remains institutional-driven, and they expect to remain active in corporate lending despite potential headwinds [29][32] Question: Consideration of share repurchase versus special dividends - Management highlighted that they have options to reinvest in new loans, buy back shares, or deleverage, with a focus on maximizing returns for investors [34] Question: Sponsor conversations and market activity - Management noted that sponsors are cautious and observing market conditions before bringing assets to market, but they expect continued M&A activity due to economic growth [48] Question: Recovery rates for software companies - Management expressed confidence in the coverage of their software business, noting that it is performing well despite public market re-ratings [60] Question: Evaluation of share repurchase program - Management stated they will be opportunistic with share repurchases, considering the discount to NAV and the potential for capital allocation decisions [63]

Group 1 - Madison Investments reported a 2.65% return for the S&P 500 in Q4 2025, leading to a full-year return of 17.9% for 2025, with the index achieving over 21% annual growth over the last three years [1] - The Madison Large Cap Fund (Class I) outperformed the S&P 500 with a return of 3.43% in Q4 2025, indicating effective fund management [1] - Market leadership was characterized by High Beta and Momentum factors, with improvements in previously lagging sectors such as Healthcare, Financials, and Consumer Discretionary [1] Group 2 - Honeywell International Inc. (NASDAQ:HON) stock closed at $243.61 on February 24, 2026, with a one-month return of 12.45% and a 52-week gain of 22.35%, reflecting strong performance [2] - Honeywell has a market capitalization of approximately $164.16 billion, indicating its significant size in the market [2] - The Madison Large Cap Fund initiated a position in Honeywell, viewing it as a high-quality industrial conglomerate undergoing a portfolio transformation, which includes the sale and spin-off of various assets in 2025 [3] Group 3 - Honeywell is not among the 30 most popular stocks among hedge funds, with 79 hedge fund portfolios holding its stock at the end of Q4 2025, an increase from 76 in the previous quarter [5] - While Honeywell is recognized for its investment potential, the company is compared to certain AI stocks that are perceived to offer greater upside potential and lower downside risk [5]

Evendale, Ohio-based GE Aerospace (GE) is a global leader in aircraft propulsion, avionics, and aviation services, supplying jet engines and aftermarket support to commercial airlines, business aviation, and defense customers. With a market cap of $355.4 billion, GE Aerospace operates through Commercial Engines and Services and Defense and Propulsion Technologies segments. Companies worth $200 billion or more are generally described as "mega-cap stocks." GE Aerospace fits right into that category, with i ...

This report is from this week's CNBC's UK Exchange newsletter. Like what you see? You can subscribe here.Employees work on a Rolls-Royce Trent 7000 engine for an Airbus SE A330neo aircraft at the Safran SA plant in Colomiers, France, on Tuesday, March 25, 2025. Safran Nacelles manufactures nacelles for short, medium and long-range commercial aircraft. Photographer: Matthieu Rondel/Bloomberg via Getty ImagesWhat do you do if you are the chief executive of a company whose share price has risen by more than 1, ...

Core Insights - Investors are optimistic about Nvidia's upcoming Q4 results, while several other Zacks-rated stocks have exceeded EPS expectations, indicating strong growth trajectories and potential for portfolio diversification [1] Group 1: Allison Transmission Holdings (ALSN) - Allison Transmission Holdings reported Q4 EPS of $1.70, surpassing expectations of $1.56 by 9%, although it decreased from $2.01 per share a year ago [2] - The full-year EPS for FY25 was slightly down to $8.21, but it is projected to rebound with an 18% increase to $9.68 this year [2] - ALSN trades at an attractive 12X forward earnings multiple and offers a respectable annual dividend yield nearing 1% [3] Group 2: BWX Technologies (BWXT) - BWX Technologies achieved Q4 EPS of $1.08, beating estimates of $0.91 by nearly 19% and increasing from $0.92 per share in the same quarter last year [4] - The full-year EPS rose 20% to $4.01, with annual earnings expected to increase another 6% in FY26 [6] - BWXT has a forward P/E multiple of 46X, reflecting high investor sentiment in the aerospace and defense sector amid geopolitical tensions [5] Group 3: Telefonica Brasil (VIV) - Telefonica Brasil reported Q4 EPS of $0.22, exceeding expectations of $0.17 and up from $0.18 per share last year [9] - As the largest wireless provider in Brazil, it offers a 2.49% annual dividend yield, with annual earnings up 8% and FY26 EPS forecasted to spike 26% to $0.86 [10] Group 4: V2X Inc (VVX) - V2X Inc posted Q4 EPS of $1.56, beating estimates of $1.33 by 17% and showing a 21% increase in FY25 EPS to $5.24 [11] - The company does not offer a dividend but trades at a relatively low 12X forward earnings multiple, indicating improving growth prospects [12]

The company also reported improved profitability in the quarter. Gundermann said operating income margin was 14.8% and adjusted EBITDA was 19% , which he called post-pandemic records. Astronics generated $27.6 million in cash from operations in the quarter and ended the period with $231 million of available liquidity after completing a planned transition from an asset-based lending facility to a cash flow-based revolving credit facility.Chairman, President and CEO Peter Gundermann said fourth-quarter revenu ...

Astronics (NasdaqGS:ATRO) Q4 2025 Earnings call February 24, 2026 04:45 PM ET Company ParticipantsDeborah Pawlowski - Senior Managing DirectorNancy Hedges - CFOPeter Gundermann - Chairman, President, and CEOWilliam Gildea - Equity Research AssociateConference Call ParticipantsGautam Khanna - Aerospace & Defense Equity AnalystGreg Palm - Senior Research AnalystMichael Ciarmoli - Managing Director and Equity Research Analyst of Aerospace & DefenseOperatorGreetings, welcome to the Astronics Corporation fourth ...