Amsterdam, 25 February 2026 --- AMG Critical Materials N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) acquired AURA Technologie GmbH in Germany for €10 million in a transaction consisting of 34% cash and 66% AMG shares. The acquisition represents a major strategic step in AMG’s expansion into high-purity molybdenum and strengthens its position in circular critical materials processing. AURA is an established processor of spent hydrodesulfurization (HDS) catalysts, which contain molybdenum as a key active component ...

Luxfer (NYSE:LXFR) Q4 2025 Earnings call February 25, 2026 08:30 AM ET Company ParticipantsAndy Butcher - CEOKevin Grant - VP of Investor Relations and Business DevelopmentSteve Webster - CFOConference Call ParticipantsNone - AnalystOperatorGood morning. My name is Nikki, and I will be your conference operator today. Welcome to Luxfer's fourth quarter and full year 2025 earnings conference call. All lines have been placed on mute. After the speakers' prepared remarks, we will hold a question-and-answer sess ...

Carpenter Technology Corporation (NYSE:CRS) ranks among billionaire Stanley Druckenmiller’s 10 best stock picks. On January 29, Carpenter Technology Corporation (NYSE:CRS) reported second-quarter fiscal year 2026 earnings results, with an operating income of $155.2 million, a rise of 31% from $118.9 million in the second quarter of the previous year. Carpenter’s largest division, the Specialty Alloys Operations (SAO), delivered notable performance, with operating income of $174.6 million, up 29% from $13 ...

Core Viewpoint - Carpenter Technology Corporation has appointed Brian Malloy as the new CEO effective July 1, 2026, while Tony Thene transitions to Executive Chairman, ensuring continuity in leadership and strategic oversight [1][4]. Leadership Transition - Brian Malloy, currently the President & COO, has been with Carpenter Technology for 10 years and has played a significant role in the company's growth and strategic direction [3]. - Tony Thene, the current Chairman and CEO, will continue to guide the company's strategy and maintain key stakeholder relationships as Executive Chairman [1][2]. Management Strength - The Board of Directors emphasizes the strength and depth of the management team, highlighting Brian Malloy's operational expertise and proven leadership as essential for guiding the company forward [4]. - Malloy's leadership is expected to build on the existing strategic vision that has driven the company's growth, focusing on delivering value to customers in high-value markets [3][4]. Company Background - Carpenter Technology Corporation is a leader in high-performance specialty alloy materials and process solutions, serving critical applications in various sectors including aerospace, defense, medical, and energy [5]. - The company has a long history, founded in 1889, and is recognized for its premium specialty alloys such as nickel, cobalt, and titanium [5].

Core Viewpoint - Tiangong International is expected to see significant revenue and net profit growth in 2025, driven by its 3C titanium business and advancements in smelting technology [1][5]. Financial Performance - Revenue is projected to increase by 11.1% YoY to Rmb5.37 billion in 2025, while attributable net profit is anticipated to rise by 15.5% YoY to Rmb414 million [1]. - Revenue forecasts for 2025 and 2026 have been raised by 2.8% and 3.5% to Rmb5.37 billion and Rmb6.64 billion, respectively, with a new forecast for 2027 set at Rmb7.38 billion [5]. - Net profit forecasts for 2025 and 2026 have been increased by 13.3% and 29.6% to Rmb414 million and Rmb697 million, with a new forecast for 2027 at Rmb894 million [5]. Industry Trends - The 3C titanium business is expected to become a key earnings growth driver, with increasing demand for titanium alloys in consumer electronics, particularly after Apple's use of titanium in its iPhone 15 Pro series [1]. - Sales volume of high-end 3C titanium materials is projected to grow by 183% YoY in 2026 and 24% YoY in 2027 as demand from downstream consumer electronics sectors recovers [3]. Technological Advancements - The company has upgraded its smelting technology to produce various titanium alloy grades using green recycled materials, positioning itself as a leading supplier of 3C titanium materials in China [2]. - The establishment of titanium alloy powder metallurgy production lines ahead of competitors is expected to provide a long-term competitive advantage [3]. New Growth Drivers - The company's PM molds for integrated die-casting are anticipated to enter alternative-fuel vehicle supply chains valued at over Rmb1 trillion, potentially boosting sales volume [4]. - The company has developed a unique melting technology to control nitrogen content in high-nitrogen alloy materials, which is being utilized in high-end applications [5]. Valuation and Outlook - The company is expected to transition from a leading tool and die steel manufacturer to a high-end material supplier by 2026, leading to a valuation adjustment [6]. - The target price has been raised by 76% to HK$5.29, implying an 18.4x 2026e P/E, with a potential upside of 50% [6].

Core Insights - Materion Corporation reported strong financial results for the fourth quarter and full year of 2025, with a net income of $6.6 million, or $0.31 per share, compared to a net loss of $48.8 million, or $2.33 loss per share, in the previous year [1] Financial Performance - Fourth quarter net sales reached $489.7 million, while value-added sales were $253.9 million [1] - The company provided strong earnings guidance for 2026, indicating positive expectations for future performance [1] Strategic Initiatives - Materion announced a $65 million customer investment aimed at supporting US defense initiatives, highlighting its commitment to the defense sector [1]

Core Insights - Zacks Premium offers various tools for investors to enhance their stock market strategies and confidence [1] - The Zacks Style Scores are designed to complement the Zacks Rank, helping investors identify stocks likely to outperform the market in the short term [2] Zacks Style Scores Overview - Stocks are rated from A to F based on value, growth, and momentum, with higher scores indicating a better chance of outperforming the market [3] - The Style Scores are categorized into four types: Value Score, Growth Score, Momentum Score, and VGM Score [3][4][5][6] Value Score - Focuses on identifying undervalued stocks using financial ratios such as P/E, PEG, and Price/Sales to find attractive investment opportunities [3] Growth Score - Concentrates on a company's financial health and future growth potential, analyzing projected and historical earnings, sales, and cash flow [4] Momentum Score - Targets stocks with upward or downward price trends, utilizing recent price changes and earnings estimate adjustments to identify favorable buying opportunities [5] VGM Score - Combines all three Style Scores to provide a comprehensive rating, helping investors find stocks with the best value, growth prospects, and momentum [6] Zacks Rank Integration - The Zacks Rank uses earnings estimate revisions to guide investors, with 1 (Strong Buy) stocks historically yielding an average annual return of +23.83% since 1988, significantly outperforming the S&P 500 [7] - A large number of stocks are rated, with over 800 top-rated options available, making it essential to use Style Scores for effective selection [8] Investment Strategy - To maximize returns, investors should focus on stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B, ensuring high potential for upside [9] - Stocks rated 4 (Sell) or 5 (Strong Sell) should be avoided, even if they have high Style Scores, due to declining earnings forecasts [10] Company Spotlight: ATI Inc. - ATI Inc., based in Pittsburgh, PA, is a diversified specialty materials producer and currently holds a 1 (Strong Buy) rating on the Zacks Rank with a VGM Score of B [11] - The company is particularly appealing to growth investors, with a Growth Style Score of A and a projected year-over-year earnings growth of 27.2% for the current fiscal year [12] - Recent earnings estimates for fiscal 2026 have been revised upward, with the Zacks Consensus Estimate increasing by $0.17 to $4.12 per share, alongside an average earnings surprise of +11.2% [12]

Core Insights - Carpenter Technology Corporation (CRS) reported strong second-quarter fiscal 2026 results, with year-over-year increases in both revenue and earnings [1][6][8] - CRS shares have increased by 92.4% over the past year, outperforming peers and the broader market [1][2] Financial Performance - CRS achieved revenues of $728 million for Q2 fiscal 2026, a 7.5% increase year-over-year, and adjusted earnings per share (EPS) of $2.33, up from $1.66 in the previous year [8] - The company reported a record adjusted operating income of $155 million, compared to $119 million a year ago [8] - CRS raised its fiscal 2026 operating income guidance to $680-$700 million, indicating a 31% year-over-year growth at the midpoint [9] Market Dynamics - The Specialty Alloys Operations segment saw revenue growth driven by aerospace and defense, while medical and distribution markets faced challenges, with medical revenues down 22.3% and distribution revenues down 14.1% [12][13] - The company anticipates strong demand and productivity improvements in the Specialty Alloys Operations segment for Q3 fiscal 2026 [12] Future Outlook - CRS expects to achieve $765-$800 million in operating income by 2027, reflecting a nearly 25% compound annual growth rate compared to fiscal 2025 [10] - The company projects adjusted free cash flow of at least $280 million in fiscal 2026, contributing to shareholder value [11] Investment Considerations - The Zacks Consensus Estimate for fiscal 2026 sales is $3.07 billion, a 6.6% year-over-year increase, with earnings expected to rise by 36.5% to $10.21 per share [15] - CRS is investing in a $400 million brownfield expansion project to enhance its production capacity, which is on schedule and budget [17][18] - The company has a strong liquidity position, with cash and cash equivalents of $232 million and a net debt/EBITDA ratio of 0.6x, a historic low [14] Valuation - CRS is currently trading at a forward price/sales ratio of 5.59, significantly higher than the industry average of 1.99 [23] - Despite its premium valuation, the strong performance and earnings potential justify the current stock price [27]

Core Insights - ATI Inc. reported strong financial results for Q4 2025, with sales of $1.18 billion and net income of $96.6 million, reflecting a 5% increase in sales compared to Q3 2025 and stable year-over-year performance [1][2] - The company achieved annual sales of $4.6 billion, the highest since 2012, with a 5% increase from the previous fiscal year [1][2] - Adjusted free cash flow for fiscal year 2025 was $380 million, up 53% from fiscal year 2024, indicating strong cash generation capabilities [1][2] Financial Performance - Q4 2025 adjusted EBITDA was $232 million, representing 19.7% of sales, while adjusted net income attributable to ATI was $130 million, or $0.93 per share [1][2] - For fiscal year 2025, net income attributable to ATI increased by 10% to $404.3 million, and earnings per share rose by 12% to $2.85 [2][5] - Adjusted net income for fiscal year 2025 was $460.1 million, a 30% increase compared to fiscal year 2024, with adjusted earnings per share rising by 32% to $3.24 [2][5] Segment Performance - High Performance Materials & Components (HPMC) segment sales for Q4 2025 were $645.9 million, with segment EBITDA of $155 million, or 24% of sales, reflecting strong demand in aerospace and defense markets [1][2] - Advanced Alloys & Solutions (AA&S) segment sales were $531.2 million, with segment EBITDA of $98.5 million, or 18.5% of sales, showing a sequential increase in margins due to favorable manufacturing costs [2][4] - Aerospace & defense sales represented 91% of total HPMC sales in Q4 2025, driven by strong demand for commercial jet engine and defense products [1][2] Cash Flow and Capital Management - Operating cash flow for fiscal year 2025 was $614 million, an increase of over 50% year-over-year, allowing the company to repurchase $470 million in shares and repay $150 million of outstanding debt [1][2] - The company’s strong balance sheet and cash flow generation provide flexibility to support growth and return capital to shareholders [1][2] Guidance - ATI provided guidance for Q1 2026, expecting adjusted EBITDA between $216 million and $226 million, and for fiscal year 2026, adjusted EBITDA is projected to be between $975 million and $1,025 million [1][2]

Core Insights - Carpenter Technology reported $728 million in revenue for the quarter ended December 2025, marking a year-over-year increase of 7.6% and an EPS of $2.33 compared to $1.66 a year ago, with an EPS surprise of +5.79% [1] Financial Performance - Revenue of $728 million was slightly below the Zacks Consensus Estimate of $728.57 million, resulting in a surprise of -0.08% [1] - The consensus EPS estimate was $2.20, leading to an EPS surprise of +5.79% [1] Key Metrics - Carpenter's shares returned +5.3% over the past month, outperforming the Zacks S&P 500 composite's +0.8% change, and the stock holds a Zacks Rank 2 (Buy) [3] - Volumes Sold in Pounds for Specialty Alloys Operations were 46.84 million, exceeding the average estimate of 44.86 million [4] - Total Volumes Sold in Pounds reached 48.4 million, surpassing the average estimate of 46.45 million [4] - Net Sales from the End-Use Market Excluding Surcharge Revenue totaled $589.1 million, slightly below the average estimate of $598.21 million, but reflecting a year-over-year change of +7.5% [4] - Surcharge revenue was reported at $138.9 million, exceeding the estimated $133.03 million, with a year-over-year increase of +7.8% [4] - Net Sales for Performance Engineered Products were $83.2 million, below the average estimate of $97.43 million, indicating a year-over-year decline of -12.4% [4] - Operating Income for Specialty Alloys Operations was $174.6 million, slightly above the average estimate of $170.94 million [4]