Innospec (NasdaqGS:IOSP) Q4 2025 Earnings call February 18, 2026 09:00 AM ET Company ParticipantsDavid Jones - General Counsel and Chief Compliance OfficerIan Cleminson - EVP and CFOJonathan Tanwanteng - Managing DirectorPatrick Williams - President and CEOConference Call ParticipantsDavid Silver - Managing Director and Senior AnalystMike Harrison - Managing Director and Senior Chemicals AnalystOperatorGood day, and thank you for standing by. Welcome to Innospec's fourth quarter 2025 earnings release confer ...

Innospec (NasdaqGS:IOSP) Q4 2025 Earnings call February 18, 2026 09:00 AM ET Speaker5Good day, and thank you for standing by. Welcome to Innospec's fourth quarter 2025 earnings release conference call and webcast. Speakers on the call today are David Jones, General Counsel and Chief Compliance Officer, Patrick Williams, President and CEO, and Ian Cleminson, Executive Vice President and Chief Financial Officer. At this time, all participants are in a listen-only mode. After the speakers' presentation, there ...

A strategic top-level reorganization was completed to simplify the corporate structure and enable more tax-efficient global cash movements.The company maintains a debt-free balance sheet with $292.5 million in cash, providing significant flexibility for M&A, organic investment, and shareholder returns.Management is pivoting Performance Chemicals toward diversified industrial markets, including agriculture, mining, and construction, to reduce reliance on consumer-driven personal care.Oilfield Services result ...

Financial Data and Key Metrics Changes - Adjusted earnings per share (EPS) for the first quarter was $1.53, which is 13% lower than the same quarter last year [18] - Operating cash flow was strong at $126 million, with discretionary free cash flow of $71 million [18] - The company ended the quarter with a cash balance of $230 million and a liquidity position of approximately $1.4 billion [18] - Capital expenditures for the first quarter were $69 million, with expectations for fiscal 2026 to be between $200 million and $230 million [18] Business Segment Data and Key Metrics Changes - EBIT in the Reinforcement Materials segment declined by 22% compared to the first quarter of fiscal 2025, primarily due to lower volumes in the Americas and Asia Pacific [4][8] - EBIT in the Performance Chemicals segment increased by 7% compared to the first quarter of fiscal 2025, driven by a more favorable product mix and momentum in battery materials [4][8] - In Reinforcement Materials, volumes were down 7% year-over-year, with a 15% decline in the Americas and a 3% decline in Asia Pacific, while Europe saw a 6% increase [19] Market Data and Key Metrics Changes - Tire imports from Asia have increased by approximately 4% year-over-year in the U.S., while Brazil experienced a 4% year-over-year decline in passenger car tire imports due to tariffs [6] - In Europe, tire imports remain elevated, with an 8% increase year-to-date as of November 2025 [7] - The company anticipates that domestic tire production in Western regions will return to growth in 2026 and 2027, influenced by trade measures and pent-up demand [24] Company Strategy and Development Direction - The company is focused on reinforcing its leadership in the Reinforcement Materials segment while investing in growth opportunities in Battery Materials [9][12] - A multiyear agreement with PowerCo, a subsidiary of Volkswagen Group, is expected to enhance the company's position in the battery materials market [15] - The company plans to rationalize Carbon Black capacity in the Americas and Europe to align with current demand levels [11] Management's Comments on Operating Environment and Future Outlook - The management noted that the global demand environment remains challenging, particularly in the Reinforcement Materials segment, due to depressed tire production levels [5] - There are expectations for improving EBIT in the second half of fiscal 2026, driven by new capacity in Indonesia and an acquisition in Mexico [20][22] - The company anticipates continued strong free cash flow generation and plans to return cash to shareholders through dividends and share repurchases [23][27] Other Important Information - The company delivered $50 million in cost savings in fiscal year 2025 and expects to achieve an additional $30 million in cost reductions in fiscal 2026 [9][10] - EBITDA margins for the Battery Materials product line remain attractive at 22% on a trailing twelve-month basis [13] Q&A Session Summary Question: What are you seeing on tire exports leaving the ports in Asia? - The company noted that tire imports in the Americas have been decreasing sequentially, while in South America, tariffs have resulted in a modest year-over-year decline [30] Question: Is the volume weakness in Europe silicas due to the construction silicones market or Dow's silanes closure? - The management indicated that the demand weakness is more related to general market conditions rather than Dow's closure [32] Question: Have you quantified the expected earnings contribution from the agreement with PowerCo? - The company has not disclosed specific earnings contributions due to confidentiality but emphasized the strategic importance of the agreement [35] Question: How does the new Mexico plant fit into America's manufacturing footprint? - The Mexico plant is seen as strategically important, providing operational synergies and supporting long-term partnerships with customers like Bridgestone [44] Question: How are volumes trending in the Americas compared to the December quarter? - Volumes in January are up year-over-year in the Americas, with a sequential increase expected due to seasonal factors [61]

CABOT CORPORATION EARNINGS TELECONFERENCE FIRST QUARTER - FISCAL 2026 Q1 Fiscal 2026 1 Forward Looking Statements This presentation contains forward-looking statements. All statements that address expectations or projections about the future, including with respect to our expectations for our performance in the second quarter of and fiscal year 2026, including our expectations for performance in our businesses, cash flow generation, our growth in battery materials, for cost savings we will recognize and for ...

Company Overview - FutureFuel Corp. is a manufacturer of custom and performance chemicals and biofuels [6] - The company produces specialty chemicals for specific customers and multi-customer specialty chemicals, as well as biodiesel in its biofuels segment [6] Board Changes - As of December 4, 2025, the Board of Directors increased its size to nine members and appointed Roeland Polet as a Class A member [1] - Roeland Polet, who has been the Chief Executive Officer since September 3, 2024, will also serve as the Chairman of the Board, replacing Donald C. Bedell, who will remain a Board member [4][5] - G. Bruce Greer has been appointed as Lead Independent Director to work alongside Mr. Polet [5] Leadership Background - Roeland Polet has extensive experience in senior leadership roles, including his previous position as CEO of DSM Materials Businesses from 2019 to 2023 [2] - His background includes leadership roles at Valspar Corporation, Celanese Corporation, and Carbolite Foods, with global business experience across the United States, Asia, and Europe [2]

Financial Data and Key Metrics Changes - Total revenues for Q3 2025 were $441.9 million, slightly down from $443.4 million in Q3 2024 [6] - Overall gross margin decreased by 1.6 percentage points to 26.4% [6] - Adjusted EBITDA for the quarter was $44.2 million, down from $50.5 million a year ago [6] - Net income for the quarter was $12.9 million, compared to $33.4 million in the previous year [6] - GAAP earnings per share were $0.52, down from $1.33 last year [7] - Adjusted EPS for the quarter was $1.12, compared to $1.35 a year ago [8] Business Line Data and Key Metrics Changes - **Performance Chemicals**: Revenues increased by 4% to $170.8 million, but gross margin decreased to 15.1%, down 7 percentage points from 22.1% [8] - **Fuel Specialties**: Revenues rose by 4% to $172 million, with gross margins improving to 35.6%, up 2 percentage points [9] - **Oilfield Services**: Revenues decreased by 13% to $99.1 million, but gross margins increased to 30% [10] Market Data and Key Metrics Changes - Performance Chemicals experienced a volume decline of 2%, offset by a positive price mix of 3% and favorable currency impact of 3% [8] - Fuel Specialties saw a volume decrease of 7%, with a price mix increase of 7% and a positive currency impact of 4% [9] - Oilfield Services faced a decline in operating income due to lower-than-expected activity in the Middle East [5] Company Strategy and Development Direction - The company is focused on margin improvement across all segments and has a strong pipeline of margin-accretive opportunities [4] - There is an emphasis on executing top-line cost and margin-improvement opportunities identified in the business [4] - The company plans to continue its share buyback program and has increased its semi-annual dividend by 10% to $0.87 per share [11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about sequential operating income and margin improvement in Q4, particularly in Performance Chemicals and Oilfield Services [5] - The company expects to see a positive impact from actions taken in Q3, with gross margins in Performance Chemicals expected to improve to around 18% in Q4 [18] - Management noted strong customer demand remains intact despite internal challenges faced in Q3 [40] Other Important Information - Corporate costs for the quarter were $18.2 million, up from $11.8 million a year ago [10] - Cash flow from operating activities was $39.3 million before capital expenditures of $22.2 million [10] - The company had $270.8 million in cash and cash equivalents and no debt as of September 30 [10] Q&A Session Summary Question: Can you provide more details on the gross margin decline in Performance Chemicals? - Management noted ongoing headwinds from oleochemicals affecting pricing and pass-through ability, but improvements are expected in Q4 [16][17] Question: What commercial actions are being taken in Performance Chemicals? - New product technologies are being introduced across various sectors, with expectations for improved product mix and pricing [20][21] Question: What is the outlook for Fuel Specialties in Q4? - Management expects stable performance in Fuel Specialties, with operating income projected around $35 million [24][25] Question: What is the expected EPS range for Q4? - Management anticipates EPS to be in the $1.20-$1.25 range, acknowledging challenges in achieving last year's levels [26][27] Question: Can you elaborate on the timing in the Oilfield Services business? - Management indicated that activity is expected to pick up in Q4, but there won't be a catch-up effect due to timing issues with customers [32][33] Question: What is the capital allocation strategy moving forward? - The company plans to balance share buybacks and dividend increases while maintaining flexibility for potential M&A opportunities [41][42]

Q3 2025 Performance Summary - The company reported Earnings Per Share (EPS) of $1.12 for Q3 2025[6] - The company's balance sheet shows $270.8 million in net cash[7] - A 10 percent semi-annual dividend increase was authorized, bringing it to 87 cents per share[7] - The company executed $10.7 million in share buybacks[7] Segment Performance - Performance Chemicals saw a 4 percent increase in revenue, but volumes decreased by 2 percent, while price/mix increased by 3 percent[16] - Performance Chemicals gross margin decreased by 7 percentage points[7, 16] - Fuel Specialties experienced a 4 percent increase in revenue, with volumes down 7 percent and price/mix up 7 percent[19] - Fuel Specialties operating income increased by 14 percent[19] - Oilfield Services revenue decreased by 13 percent due to lower Middle East activity[23] Financial Results - Consolidated revenue was broadly flat[13] - Gross margin decreased by 1.6 percentage points[13] - Operating income decreased by 87 percent, including $24.4 million in charges[13] - Adjusted EBITDA decreased by 12 percent[13] Outlook - Sequential growth is expected in Q4 for Performance Chemicals and Oilfield Services[7, 8, 16, 23] - Fuel Specialties is expected to maintain steady performance in Q4[7, 19, 32]

Core Insights - Cabot Corporation (CBT) reported fourth-quarter fiscal 2025 earnings of 79 cents per share, a significant decline from $2.43 in the same quarter last year [1] - Adjusted earnings were $1.70 per share, down from $1.80 year-over-year, and missed the Zacks Consensus Estimate of $1.72 [1] - Net sales for the quarter were $899 million, falling short of the Zacks Consensus Estimate of $952.6 million, and representing a 10.2% decrease from the prior-year quarter [1] Segment Performance - Sales in the Reinforcement Materials segment decreased by approximately 12.6% year-over-year to $563 million, missing the Zacks Consensus Estimate of $617 million [2] - Earnings before interest and tax (EBIT) in the Reinforcement Materials segment were $119 million, down around 3.3% from the previous year, primarily due to lower volumes in the Asia Pacific and the Americas [2] - The Performance Chemicals division saw a 4.3% decline in sales to $308 million, also missing the Zacks Consensus Estimate of $313 million [3] - EBIT in the Performance Chemicals segment decreased by approximately 4.6% to $42 million, driven by a 5% decrease in volumes, particularly due to reduced demand in Europe [3] Financial Overview - At the end of the fourth quarter, Cabot had a cash balance of $258 million, with cash flows from operating activities amounting to $219 million [4] - Capital expenditures for the quarter totaled $64 million, while $25 million was used for dividends and $39 million for share repurchases [4] Future Outlook - The company does not expect a recovery in the external environment for fiscal 2026, citing ongoing weakness in regional demand for Reinforcement Materials due to high Asian tire imports [5] - Adjusted EPS for fiscal 2026 is projected to be between $6.00 and $7.00, reflecting macroeconomic uncertainty and competitive pressures [5] - Performance Chemicals is expected to show profit growth, supported by strength in Battery Materials and opportunities in infrastructure and alternative energy [5] Stock Performance - Cabot's shares have declined by 47.6% over the past year, compared to a 39.1% decline in the industry [6]

Core Viewpoint - Occidental Petroleum Corporation (OXY) is expected to report a significant decline in earnings for the fiscal third quarter of 2025, with analysts projecting a profit of $0.51 per share, down 49% from the previous year [2]. Financial Performance - OXY's market capitalization is valued at $41.9 billion, and the company is involved in oil and gas properties as well as the manufacturing of basic chemicals [1]. - For the full fiscal year 2025, analysts anticipate an EPS of $2.27, which represents a 34.4% decrease from $3.46 in fiscal 2024 [3]. - The EPS is expected to further decline to $1.69 in fiscal 2026, marking a year-over-year decrease of 25.6% [3]. Stock Performance - Over the past 52 weeks, OXY stock has underperformed, with a decline of 17.1%, compared to a 16.9% gain in the S&P 500 Index [4]. - The stock also underperformed relative to the Energy Select Sector SPDR Fund, which experienced a loss of 1.9% during the same period [4]. Analyst Ratings - The consensus opinion on OXY stock is cautious, with a "Hold" rating from 25 analysts: 4 recommend "Strong Buy," 1 suggests "Moderate Buy," 17 give "Hold," and 3 recommend "Strong Sell" [6]. - The average analyst price target for OXY is $50.32, indicating a potential upside of 18.2% from current levels [6].