CFO Mark Johnson said fourth-quarter 2025 revenue was $959 million , up 51% sequentially, driven by $388 million of MRC Global revenue contribution from the close date through year-end (the “stub period”). For the full year, DNOW reported $2.8 billion in revenue, up 19% from 2024.Cherechinsky singled out the “heritage DNOW” business for delivering what he called its best four-year stretch ever (2022–2025). He said legacy DNOW generated a record full-year EBITDA of $199 million in 2025, despite a contracting ...

Core Viewpoint - Cemtrex, Inc. has acquired Richland Industries to expand its Advanced Industrial Services platform into a rapidly growing industrial region in the U.S. [1][8] Group 1: Acquisition Details - The acquisition includes all assets of Richland Industries and establishes a new subsidiary, AIS Tennessee, to operate the business [1][6] - AIS purchased the business assets and property for $5.5 million and assumed certain operating liabilities, financed through loans from Fulton Bank [7] Group 2: Financial Performance - AIS has grown from approximately $21 million in annual revenue in fiscal 2022 to approximately $38 million in fiscal 2025, maintaining consistent gross margins and operating profitability [2] - AIS Tennessee is expected to contribute approximately $8 to $10 million in revenue over the next twelve months based on historical performance and current backlog [6] Group 3: Strategic Importance - The acquisition enhances AIS's capabilities in fabrication, mechanical installation, and industrial services, with a contracted backlog providing near-term revenue visibility [3] - The Pulaski, Tennessee property includes a 70,000 square foot facility on 25 acres, allowing for future expansion and direct access to key Southeastern markets [4][5] Group 4: Long-term Vision - This acquisition marks the fourth owned industrial property in the AIS portfolio, aligning with the company's strategy to own critical real estate to reduce execution risk and support long-term growth [5] - The establishment of AIS Tennessee is seen as a natural extension of AIS's efforts to build scale and deploy a proven operating framework in a new region [6]

Core Insights - MPS reported a record revenue of $2.79 billion for 2025, marking a year-over-year growth of 26.4% driven by consistent execution and innovation [2][8] - The company experienced a significant decline in net income, which fell by 65.5% to $615.9 million compared to $1.79 billion in 2024 [2][11] - MPS's strategy focuses on innovation and expanding into new markets while diversifying its end-market applications and supply chain [10][11] Financial Performance - **2025 Financial Summary**: - Revenue: $2,790.5 million, up from $2,207.1 million in 2024 [2] - Gross Margin: 55.2%, slightly down from 55.3% in 2024 [2] - Operating Margin: Increased to 26.1% from 24.4% [2] - Net Income: $615.9 million, down from $1,786.7 million [2] - Diluted EPS: $12.75, a decrease from $36.59 [2] - **Q4 2025 Performance**: - Revenue: $751.2 million, a 20.8% increase year-over-year [17] - Net Income: $170.1 million, down 88.3% from $1.45 billion in Q4 2024 [28] - Diluted EPS: $3.46, a significant drop from $29.88 in Q4 2024 [28] Revenue by End Market - **2025 Revenue Breakdown**: - Storage & Computing: $732.5 million, up 46.0% year-over-year [12] - Automotive: $592.5 million, a 43.1% increase [13] - Communications: $309.1 million, up 36.8% [14] - Consumer: $255.2 million, a 26.3% increase [14] - Industrial: $199.4 million, up 35.3% [15] - Enterprise Data: $701.8 million, down 2.0% [15] - **Q4 2025 Revenue by End Market**: - Enterprise Data: $233.5 million, up 19.8% year-over-year [18] - Storage & Computing: $162.1 million, up 18.8% [23] - Automotive: $151.0 million, up 17.6% [20] - Communications: $83.7 million, up 31.2% [19] - Consumer: $66.2 million, up 15.5% [22] - Industrial: $54.7 million, up 34.1% [21] Business Outlook - For Q1 2026, MPS forecasts revenue between $770 million and $790 million, with GAAP gross margin expected to be between 54.9% and 55.5% [34] - The company plans to increase its quarterly dividend by 28% to $2.00 per share [35]

Company Overview - Parker-Hannifin Corporation (NYSE:PH) is recognized as a global leader in motion and control technologies, serving aerospace, industrial, and mobile machinery markets [2] - The company has a long history of innovation and financial stability, boasting a 69-year streak of dividend increases, one of the longest in the S&P 500 [2] Recent Developments - In September 2025, Parker-Hannifin completed a $1 billion acquisition of Curtis Instruments, which specializes in motor speed controllers and power conversion devices for electric vehicles and mobile machinery [3] - Curtis Instruments is expected to generate $320 million in sales in 2025 and will be integrated into Parker-Hannifin's Motion Systems Group, enhancing its electrification and hybrid technology offerings [3] Financial Performance - For fiscal 2025, Parker-Hannifin reported record results, with fourth-quarter sales reaching $5.2 billion, reflecting a 2% organic growth [4] - Net income increased by 18% to $923 million, and adjusted earnings per share rose by 7% to $27.33 [4] - The company declared a quarterly dividend of $1.80 per share, marking its 301st consecutive payout, and expanded its share repurchase authorization to cover up to 20 million shares, indicating confidence in long-term growth [4]

Financial Data and Key Metrics Changes - The company reported 3% organic growth in Q2, with life sciences slightly above that in the mid-single-digit range and diagnostics in the low single-digit range [4][5] - The guidance for the full year has been adjusted down to 2% to 4% organic growth, a decrease of 100 basis points primarily due to the impact of China diagnostics [44][70] - The company expects a significant sequential increase in Q4, projecting mid-single-digit growth driven by diagnostics, particularly from the OMICS contract with Genomics England [47][49] Business Line Data and Key Metrics Changes - The life sciences segment saw mid-single-digit growth, largely attributed to the Signals business, which grew over 30% [12][14] - The reagents business has shown consistent sequential growth for six straight quarters, with demand primarily driven by pharma [25][26] - The diagnostics business in China faced a 15% decline in Q2, with expectations of a mid-20% decline in the second half due to changes in reimbursement policies [7][8] Market Data and Key Metrics Changes - The company’s exposure to the China diagnostics market is about 9% of total revenue, with overall China contributing 15% to 16% of revenue [8][9] - The U.S. market for the company’s A&G segment is approximately 5% of the revenue base, with expectations of a similar market environment in the second half of the year [19][21] - The company anticipates continued growth in the life sciences sector in China, with mid-single-digit growth expected for the second half [23][24] Company Strategy and Development Direction - The company is focusing on expanding its software offerings and transitioning to a SaaS model, with a strong emphasis on customer retention and growth in annualized portfolio value [15][17] - The strategy includes increasing automation in the U.S. market to enhance competitiveness, particularly in the ImmunoDX business [37][38] - The company aims to leverage its competitive advantages in customer service and product quality to capture market share from competitors [29][30] Management's Comments on Operating Environment and Future Outlook - Management expressed cautiousness regarding the operating environment, particularly in the pharma sector, due to uncertainty in policies affecting investment planning [18][26] - The company remains optimistic about its margin expansion potential, projecting a baseline operating margin of 28% for 2026 despite current low single-digit growth expectations [55][57] - Management highlighted the importance of clarity in regulatory policies to drive growth and investment in the coming years [26][66] Other Important Information - The company has achieved a free cash flow conversion rate of 90% in the first half of the year, with expectations to maintain this trend moving forward [66][68] - Share buybacks have increased significantly, with the company planning to continue repurchasing shares at favorable prices [69][70] Q&A Session Summary Question: What is the outlook for organic growth in 2026? - Management indicated that while the market is expected to remain flat to slightly up, they anticipate growing a couple of hundred basis points above that, aiming for low single-digit growth [62][64] Question: How is the company addressing tariff impacts? - The company has operationally mitigated some tariff impacts, particularly from China, but expects to absorb some net costs moving forward [9][61] Question: What are the key competitive advantages in the reagents business? - Management believes their customer service, product quality, and market approach provide significant competitive advantages over peers [29][30]

Core Viewpoint - Parker Hannifin Corporation has agreed to acquire Curtis Instruments, Inc. for approximately $1 billion in cash, enhancing its capabilities in electric vehicle technologies and positioning itself for future growth in electrification [1][3]. Company Overview - Parker Hannifin is a global leader in motion and control technologies, recognized for its long-standing commitment to innovation and shareholder value, having increased its annual dividend for 69 consecutive years [6]. Acquisition Details - The acquisition of Curtis Instruments is expected to close by the end of calendar year 2025, pending regulatory approvals [1]. - Curtis is projected to generate sales of approximately $320 million in calendar year 2025, providing a significant addition to Parker's revenue stream [2]. Strategic Alignment - The acquisition aligns with the long-term trend towards electrification, enhancing Parker's existing industrial electrification platform and enabling better service to customers adopting electric and hybrid solutions [3][8]. - The deal is expected to create operational synergies through Parker's proven business system, The Win Strategy™, which aims to deliver strong shareholder value [3]. Market Positioning - Curtis Instruments designs and manufactures products that complement Parker's strengths in electric vehicle motors and hydraulic technologies, thereby enhancing Parker's electrification capabilities [2][8]. - The acquisition is viewed positively by both Rehlko and its financial sponsor, Platinum Equity, who believe that Curtis will thrive under Parker's scale and investment focus [4].