Fiscal First Quarter 2026 Earnings Results Teleconference January 30, 2026 Forward-Looking Statements This presentation contains "forward-looking statements" within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements about earnings and capital expenditure guidance, business outlook, investment opportunities and potential transactions that are subject to ongoing negotiations and their expected impact and timing. These forward-looking statements are based o ...

Core Viewpoint - Technip Energies will release its full year 2025 financial results on February 26, 2026, and will host a conference call to discuss these results on the same day [2]. Group 1: Financial Results Announcement - The full year 2025 financial results will be published at 07:30 CET on February 26, 2026 [2]. - A conference call will take place at 13:00 CET on the same day to discuss the results [2]. - Participants can join the conference call using specific telephone numbers provided for France, the UK, and the US, with a conference code of 880901 [2]. Group 2: Company Overview - Technip Energies is a global technology and engineering company with a focus on LNG, hydrogen, ethylene, sustainable chemistry, and CO2 management [3]. - The company generated revenues of €6.9 billion in 2024 and is listed on Euronext Paris [4]. - Technip Energies employs over 17,000 people across 34 countries, emphasizing sustainability and innovation in its operations [4].

Group 1: Core Insights - The U.S. military operation that removed Venezuelan President Nicolás Maduro has heightened global oil market attention, particularly on energy stocks, due to Venezuela's significant oil reserves of 303 billion barrels, accounting for approximately 17% of the world's total [1] - Following Maduro's ousting, President Trump convened over a dozen oil executives to discuss Venezuela's energy future, announcing that oil companies are expected to invest at least $100 billion in revitalizing the country's oil infrastructure, with assurances of security for their investments [2] - Shell Plc has emerged as a key player in this context, with its CEO indicating readiness to invest several billion dollars in Venezuela's oil sector, contingent on obtaining the necessary licenses [2] Group 2: Company Overview - Shell is recognized as one of the largest and most influential energy companies globally, operating in over 70 countries and serving more than one million commercial and industrial clients, alongside 33 million daily customers at its service stations [3] - The company boasts a diverse range of operations, including major oil and gas production, a leading LNG and Integrated Gas business, and an extensive downstream network encompassing refineries, chemicals, fuels, and retail [4] - Shell is also heavily investing in future energy solutions, such as electric vehicle charging, biofuels, hydrogen, renewable energy, and carbon capture technologies [4]

Group 1 - Technip Energies has announced the planned dates for the release of its financial results for full-year 2025 and quarterly results for 2026 [1][5] - The company generated revenues of €6.9 billion in 2024 and is listed on Euronext Paris [3] - Technip Energies operates in critical markets such as energy, energy derivatives, decarbonization, and circularity, with a focus on LNG, hydrogen, ethylene, sustainable chemistry, and CO2 management [2][3] Group 2 - The financial results for FY 2025 will be published on February 26, 2026, with subsequent quarterly results scheduled for April 30, July 30, and October 29 in 2026 [5] - Each financial announcement will be accompanied by a presentation for investors and analysts, followed by a webcast/conference call hosted by management [1]

Company Overview - Olin Corporation is a leading vertically integrated global manufacturer and distributor of chemical products and a prominent U.S. manufacturer of ammunition [4] - The chemical products produced by the company include chlorine, caustic soda, vinyls, epoxies, chlorinated organics, bleach, hydrogen, and hydrochloric acid [4] - Winchester, a division of Olin, manufactures and distributes sporting ammunition, law enforcement ammunition, reloading components, small caliber military ammunition, industrial cartridges, and clay targets [4] Upcoming Financial Results - Olin Corporation will review its fourth quarter 2025 financial results on January 30, 2026, at 9:00 a.m. Eastern time [1] - A press release with financial statements and segment information will be distributed after the market closes on January 29, 2026 [1] Conference Call Details - U.S. callers can access the conference call toll-free by dialing (877) 883-0383, while Canadian callers can dial (877) 885-0477, and international callers can dial (412) 902-6506 [2] - The call will also be available via a live webcast on the company's website [2] - A replay of the conference call will be available for one year on the company's website, with a telephonic replay available for 7 days starting at 12:00 p.m. Eastern time [3]

Summary of Air Products and Chemicals Update Call Company and Industry - **Company**: Air Products and Chemicals (NYSE: APD) - **Industry**: Industrial gases, specifically focusing on low-emission ammonia projects Key Points and Arguments 1. **Partnership with Yara International**: Air Products announced a long-term partnership with Yara for low-emission ammonia projects in the U.S. and Saudi Arabia, aiming to reshape the Louisiana project into a traditional industrial gas project [3][4][76] 2. **Louisiana Project Details**: - Total estimated cost: $8-$9 billion - 75% of capital related to industrial gases owned by Air Products, 25% related to ammonia production and shipping facilities owned by Yara - Final Investment Decision (FID) targeted by mid-2026, with project completion expected by 2030 [4][78][79] 3. **Saudi Arabia Project**: - Yara will handle transportation and commercialization of renewable ammonia from the NEOM joint venture - Marketing and distribution agreement expected to be completed in the first half of 2026, with first supply anticipated in 2027 [4][5][79] 4. **Construction Costs and Capital Allocation**: Air Products is focused on solidifying construction costs with contractors and will only proceed to FID if confident in the estimated capital expenditure [5][90] 5. **Carbon Capture and Sequestration**: - Air Products will manage the CO2 stream, which is expected to produce 5.5 million tons of CO2 annually - The pore space developed can hold up to 10 million tons of CO2 per year [10][106][85] 6. **Economic Expectations**: - Expected normal industrial gas returns, with potential skewed EBIT due to CO2 credits for the first 12 years of the project's life [35][110] - The project is designed to produce blue ammonia, making it competitive against gray ammonia in Europe [70][119] 7. **Risk Management**: - Air Products retains both price and volume risk, but the partnership with Yara mitigates volume risk due to Yara's established infrastructure [111][112] 8. **Investment and Financing**: - Air Products has already spent approximately $2 billion on the Louisiana project, with further investments contingent on customer agreements [57][58] - Yara is expected to cover approximately 25% of the capital costs, with the exact amount subject to construction cost fluctuations [62][64] Other Important Content - **Market Dynamics**: The partnership aims to address the supply-demand imbalance in the green ammonia market, which is critical for the development of green hydrogen [19][93] - **Future Agreements**: Air Products is open to further agreements that justify moving forward with additional investments, particularly in the context of green hydrogen production [96][116] - **Competitive Landscape**: The company is aware of competing projects and is confident in its unique position and commitments with Yara [122] This summary encapsulates the essential details and strategic insights from the Air Products and Chemicals update call, highlighting the company's focus on sustainable ammonia production and its collaborative efforts with Yara International.

Group 1 - Technip Energies N.V. has completed its share buy-back program, acquiring 1,265,324 shares, which is 0.71% of its share capital, at an average price of 35.56 euros per share [1][2] - The shares acquired will be utilized to meet the Company's obligations under equity compensation plans [2] - Technip Energies is a global technology and engineering powerhouse with leadership in LNG, hydrogen, ethylene, sustainable chemistry, and CO2 management [3][4] Group 2 - The Company generated revenues of €6.9 billion in 2024 and is listed on Euronext Paris [4] - Technip Energies employs over 17,000 people across 34 countries, focusing on bridging prosperity with sustainability [4]

Core Insights - Cadiz Inc. is positioned for significant growth in 2026 following critical milestones achieved in 2025, marking it as a watershed year for the company [2][7] Financial Performance - Total revenue for Q3 2025 reached $4.0 million, a 42% increase from $2.8 million in Q3 2024 [4] - Year-to-date revenue for ATEC reached $10.1 million, compared to $3.5 million in the same period of 2024, reflecting strong growth [4] - Total company revenue for the nine months ending September 30, 2025, was $11.2 million, up 131% year-over-year [6] - Operating loss for Q3 2025 was $4.9 million, slightly higher than the $4.8 million loss in Q3 2024 [10] - Net loss for Q3 2025 was $7.1 million, compared to $6.8 million in Q3 2024 [10] - Cash used in operations for the first nine months of 2025 was $12 million, down from $15.3 million in the same period of 2024 [10] Project Developments - The Mojave Groundwater Bank Project secured its first tranche of construction financing through a $51 million investment from the Lytton Rancheria of California [4] - ATEC Water Systems has shipped 308 filtration systems year-to-date, more than double the volume achieved in 2024 [3] - A Memorandum of Understanding (MOU) was executed with EPCOR for the purchase and sale of 25,000 AFY of water supply, with capital contributions expected for the Southern Pipeline construction [4] - An MOU with the U.S. Bureau of Reclamation supports the development of the Mojave Groundwater Bank amid ongoing negotiations for water sharing rules in the Colorado River Basin [4] Operational Efficiency - Gross margin in Q3 2025 was approximately 50%, up from 32% in the prior year, indicating improved production efficiencies [4] - Q3 2025 marked the second consecutive quarter of operating profit for ATEC, confirming strong market adoption [5] Future Outlook - Cadiz is well-positioned to unlock long-term recurring cash flows and deliver sustainable shareholder value as it enters the construction phase of major water supply and storage projects [7]

Core Insights - Chevron Corp is a major player in the energy sector, involved in oil and natural gas extraction, refining, and renewable energy initiatives [1] - The article highlights three Dividend Aristocrats, emphasizing their potential for stable income and capital appreciation [4][5] Company Summaries Chevron Corp (CVX) - CVX stock has appreciated nearly 85% over the last five years, indicating strong capital growth alongside increasing dividends [7] - The company offers a forward annual dividend of $6.84, yielding approximately 4.4%, with a 37% increase in dividends over the past five years [8] - Analysts rate CVX as a Moderate Buy with a score of 4.07 out of 5, with a price target of $197 per share, suggesting a ~29% upside potential [9] AbbVie Inc (ABBV) - ABBV stock has risen 119% over the past five years, showcasing significant capital appreciation [11] - The company pays an annual dividend of $6.56, yielding 3%, with a 45% increase in dividends over the last five years and a payout ratio of 68.07% [12] - Analysts also rate ABBV as a Moderate Buy with a score of 4.07 out of 5, with a price target of $284 per share, indicating ~31% upside potential [13] Linde Plc (LIN) - LIN stock has increased by 63% in the last five years, reflecting solid capital growth [15] - The company pays a dividend of $6.00 per share, yielding about 1.5%, with a 59% increase in dividends over the past five years and a low payout ratio of 36% [16] - Analysts rate LIN as a Strong Buy with a score of 4.48 out of 5, with a price target of $576 per share, representing around 38% upside potential [17] Investment Strategy - The three highlighted companies are considered compelling options for investors seeking stable income and potential capital growth, supported by their strong market positions and commitment to shareholder value [18]

Core Insights - Linde plc (LIN) is scheduled to report its third-quarter 2025 results on October 31, before the market opens [1][9] - The Zacks Consensus Estimate for third-quarter earnings per share is $4.18, reflecting a 6.09% increase year-over-year, while revenue is estimated at $8.6 billion, indicating a 2.93% year-over-year improvement [2][3][9] Q2 Earnings Highlights - In the previous quarter, Linde reported earnings of $4.09 per share, surpassing the Zacks Consensus Estimate of $4.03, driven by higher pricing and increased volumes from the Americas and EMEA segments [2] - Linde has consistently beaten earnings estimates over the past four quarters, with an average surprise of 1.08% [2] Performance Factors - Linde is a leader in industrial gas production, serving various end markets including healthcare, manufacturing, and chemicals [4] - The company is expected to maintain stable performance due to long-term contracts with major on-site clients and operations in resilient markets like healthcare and food and beverages [5] - However, macroeconomic challenges, particularly in Europe, may have weakened demand, affecting performance in cyclical markets such as metals, manufacturing, and energy [6] Segment Performance Estimates - The Zacks Consensus Estimate for operating profit in the Americas segment is $1.22 billion, an increase from $1.15 billion in Q3 2024 [7] - The Engineering business unit's operating profit estimate is $91 million, down from $108 million a year ago, which may impact demand and pricing dynamics [7] Earnings Prediction Insights - Linde's Earnings ESP is -1.30%, indicating that the model does not predict an earnings beat for this quarter [10]