Camtek (NasdaqGM:CAMT) Q4 2025 Earnings call February 18, 2026 09:00 AM ET Speaker6Ladies and gentlemen, thank you for standing by. I would like to welcome all of you to Camtek's Result Zoom Webinar. My name is Kenny Green, and I'm part of the Investor Relations team at Camtek. All participants other than the presenters are currently muted. Following the formal presentation, I will provide some instructions for participating in the live question and answer session. I would like to remind everyone that this ...

Financial Data and Key Metrics Changes - The company reported a decline in earnings year-over-year, with Adjusted EBIT in the Acetyl Chain down approximately $400 million and Engineered Materials down about $120 million [17][19] - The focus remains on cash generation, with a strong cash generation performance in 2025 despite the earnings decline [6][7] - The company is targeting free cash flow between $650 million and $750 million for 2026, with various scenarios considered for demand [44][72] Business Line Data and Key Metrics Changes - In the Acetyl Chain, the decline was primarily driven by volume and price, with significant impacts from the acetate tow business and margin compression in China [18][19] - Engineered Materials showed a mixed performance, with both volume and price declines, but cost benefits were noted [19] - The company anticipates growth in Engineered Materials, particularly in electronics and automotive sectors, while the Acetyl Chain may face challenges [21][22] Market Data and Key Metrics Changes - The electronics market is currently a bright spot, driven by AI and data center build-outs, while the automotive sector shows mixed signals, particularly in China [12][13] - The company noted some softness in the automotive market in China due to changes in EV credits and stimulus [12] - The demand environment is expected to improve in the second half of 2026, with seasonal improvements noted in early 2026 [86] Company Strategy and Development Direction - The company is focused on cash generation and reducing debt, with plans to achieve $1 billion in divestitures by the end of 2027 [14][75] - There is a strategic emphasis on divesting non-core business segments, particularly joint ventures [14][15] - The company aims to adapt to structural changes in the market, such as the shift from ICE to EV in China, and is working on enhancing operational efficiency [36][81] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the current operating environment, emphasizing the importance of cost reduction and cash flow generation [6][40] - The outlook for 2026 includes expectations for improved EBIT growth in Engineered Materials, while the Acetyl Chain may face challenges [20][21] - Management highlighted the need for continued evaluation of market conditions and operational adjustments to maintain profitability [80][81] Other Important Information - The company expects a cost benefit of $20 million to $25 million from the closure of the Lanaken plant, with some benefits expected to materialize in 2026 [9][106] - The company is actively managing working capital and inventory levels to avoid service issues while targeting further reductions [51][52] Q&A Session Summary Question: Thoughts on selling equity to address balance sheet issues - Management emphasized a focus on cash generation and debt management rather than equity sales, indicating confidence in the current strategy [6] Question: Expectations for pricing in contracts for 2026 - Management noted little change in contract pricing, with more competition observed in the spot market [8] Question: Sequential improvement in engineering materials - Management identified electronics as a bright spot, while the automotive sector remains mixed, particularly in China [12][13] Question: Timing and potential assets for divestiture - Management is confident in achieving the $1 billion divestiture target by 2027, with a focus on non-core business segments [14][15] Question: Analysis of EBIT changes in Acetyl Chain and Engineered Materials - Management attributed declines to volume and price changes, with specific challenges noted in the acetate tow business [18][19] Question: Free cash flow guidance and working capital management - Management expressed confidence in achieving free cash flow targets through various levers, despite potential demand challenges [40][72] Question: Expectations for acetyl pricing in China - Management does not anticipate significant uplifts in acetyl pricing, citing overcapacity as a concern [66][67] Question: Impact of turnaround on second quarter earnings - Management indicated that turnaround expenses would be a factor in Q2 earnings, with expectations for a similar lift as previously noted [68]

4Q25 Earnings Summary February 17, 2026 1 4th Quarter 2025 Earnings Summary Conference Call Wednesday, February 18, 2026 10:00 a.m. ET Webcast Link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=IMeg0PNW Participant dial-in numbers: Domestic callers: (877) 402-8037 International callers: (201) 378-4913 2 General Disclosure Forward-Looking Statements This presentation includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the ...

Financial Data and Key Metrics Changes - In 2025, the company reported a revenue increase of 11%, with Adjusted EBITDA reaching $1.45 billion, growing 22% and hitting the top end of its financial target for the year [4][5] - The fourth quarter revenue was up 10%, driven by accelerated transactional revenue and growth in resilient business lines [5][6] - The company achieved its midterm margin target in 2025, demonstrating strong margin expansion despite a volatile macro environment [5] Business Line Data and Key Metrics Changes - Real Estate Management Services revenue increased 9% in the fourth quarter and 11% for the full year, with strong growth in workplace and project management [6][10] - Leasing Advisory revenue grew 17% in the fourth quarter, with office leasing up 26% and industrial leasing up 11% [13][15] - Capital Markets segment saw Investment Sales growth accelerate to 27% and Debt Advisory revenue increase by 20% in the fourth quarter [15][16] Market Data and Key Metrics Changes - Office demand reached its highest level since 2019, with significant contributions from the U.S., India, and the U.K. [6][10] - The investment markets showed sustained momentum, with rising investor confidence and robust real estate debt markets expected to lead to further growth in 2026 [5][6] - Global capital flows have become more active again, contributing to transaction volume growth [78] Company Strategy and Development Direction - The company is focused on becoming the most intelligent, efficient, data-led service provider, leveraging AI and technology to enhance client outcomes [22][23] - The strategic evolution aims to drive continued top and bottom line growth, with a strong balance sheet and disciplined capital allocation [22][23] - The company plans to introduce its new strategy and long-term financial targets at an upcoming investor briefing [23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth trajectory of resilient businesses, despite recent market volatility [8][9] - The outlook for 2026 remains positive, with expectations for continued growth in leasing and capital markets driven by strong pipelines and favorable economic indicators [20][22] - Management noted that AI and technology investments are expected to enhance productivity and drive revenue growth without significantly increasing headcount [54][68] Other Important Information - The company achieved an all-time high in Free Cash Flow for the full year, with a cash conversion ratio above its long-term average [18][19] - Share repurchases totaled $80 million in the quarter, with plans to increase repurchases in 2026 [20][72] - The company is exiting low-margin contracts in its property management segment to improve overall growth rates [76][77] Q&A Session Summary Question: Revenue growth expectations for 2026 in capital markets, leasing, and REMS - Management expects continued growth in REMS, particularly in facilities and project management, with strong momentum in capital markets and leasing [26][27] Question: Free cash flow and capital allocation priorities for 2026 - Management indicated a focus on share repurchases and organic growth, with comfortable debt levels allowing for more capital to benefit shareholders [28][29] Question: AI's impact on competitive positioning - Management believes the company is well-positioned due to its proprietary data and early investments in AI, which enhance client outcomes and revenue [32][34] Question: Factors driving higher average deal sizes in office leasing - Management noted a recovery in large deals and a trend towards higher quality office spaces, with increased average lease durations [35][36] Question: Impact of AI on office demand - Management sees no significant negative impact from AI on office demand, with strong growth in prime office spaces expected [50][52] Question: Performance of the Workplace Management segment - Management acknowledged a deceleration in revenue growth due to healthcare costs but remains confident in long-term growth prospects [90][92] Question: Outlook for industrial leasing in 2026 - Management expects continued acceleration in industrial leasing, with strong pipelines heading into 2026 [94]

Financial Data and Key Metrics Changes - In Q4 2025, ProPetro generated total revenue of $290 million, a decrease of 1% compared to Q3 2025. Net income was $1 million, or $0.01 per diluted share, compared to a net loss of $2 million, or $0.02 loss per diluted share in Q3 2025 [18] - Adjusted EBITDA totaled $51 million, representing 18% of revenue, and increased by 45% compared to Q3 2025 [19] - Free cash flow for the completions business was $98 million, supported by strong EBITDA performance and reduced completion CapEx [19] Business Line Data and Key Metrics Changes - The legacy completions business continued to generate sustainable free cash flow, demonstrating resilience in a challenging market environment [20] - Capital expenditures incurred during Q4 2025 were $71 million, with $59 million supporting ProPower orders [20] Market Data and Key Metrics Changes - The Permian Basin is currently operating with approximately 70 full-time frac fleets, down from 90-100 fleets a year ago, indicating a significant slowdown in completions activity [4] - The company expects market challenges to persist into 2026, but anticipates attrition among smaller competitors unable to sustain prolonged market weakness [6] Company Strategy and Development Direction - ProPetro plans to allocate capital to its FORCE electric fleet, which has strong demand and commercial leverage, while also refurbishing a portion of its existing Tier IV DGB fleet and investing in fleet automation technology [7][23] - The company aims to deliver at least 750 megawatts by year-end 2028 and 1 gigawatt or more by year-end 2030 for its ProPower business, capitalizing on growing demand for reliable, low-emission power generation solutions [11] Management's Comments on Operating Environment and Future Outlook - Management highlighted the uncertainty in the broader energy markets and the cautious operator mindset due to tariff impacts and OPEC+ production increases affecting commodity prices [4] - The company remains confident in its ability to adapt quickly, rationalize costs, and protect its asset base, which supports margins and competitiveness in the market [5] Other Important Information - ProPetro's strong balance sheet is bolstered by a recent equity offering that provided approximately $163 million in cash, reducing reliance on debt [12] - Total liquidity at the end of Q4 2025 was $205 million, which increased to $325 million by January 31, 2026, primarily due to the equity offering [25][26] Q&A Session Summary Question: Can you expand on the contracting cadence for ProPower in 2026? - Management indicated a portfolio approach and expects a larger share of work to evolve towards non-oil and gas projects, which are often larger and have more favorable time horizons [36] Question: Does the industry have enough frac equipment to return to previous levels? - Management believes it would be a major stretch for the existing pressure pumping market to return to 90-100 fleets, indicating potential tightness in the frac market if demand increases [40][41] Question: How should we think about the mix between financed CapEx and cash CapEx for 2026? - Management stated they have various options for funding their CapEx program, prioritizing cash on the balance sheet and organic cash generation, while also utilizing flexible debt facilities as needed [46] Question: What is the current status of Tier Two fleets and the strategy for direct drive units? - Management confirmed that 2 or 3 Tier Two fleets are currently working and indicated a gradual addition of direct drive units based on customer interest [78][80] Question: How is the demand for power in the oil patch compared to data centers? - Management noted that both markets are growing, with data center demand being much higher, and expressed confidence in participating in both sectors [58]

FEBRUARY 17, 2026 SUPPLEMENTAL FINANCIAL REPORT FOURTH QUARTER 2025 1 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This presentation may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use o ...

Investor Presentation Fourth Quarter 2025 Results TRUST • TEAMWORK • HEART • EVOLUTION 1 February 17, 2026 Cautionary Statements The Securities and Exchange Commission ("SEC") permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves that a company anticipates as of a given date to be economically and legally producible and deliverable by application of development projects to known accumulations. This presentation contains certain terms and estima ...

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OGE Energy (NYSE:OGE) Q4 2025 Earnings call February 18, 2026 09:00 AM ET Speaker4Please be advised that today's conference is being recorded. I would now like to turn the conference over to your speaker for today, Casey Strange, Investor Relations Senior Manager. Please go ahead.Speaker1Thank you, Lisa, and good morning, everyone, and welcome to our call. With me today, I have Sean Trauschke, our Chairman, President, and CEO, and Chuck Walworth, our CFO. In terms of the call today, we will first hear from ...

Fourth Quarter and Full Year 2025 Earnings Call February 18, 2026 Forward-Looking Statements Certain statements contained in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This press release contains "forward-looking statements" with respect to our business, results of operations and financial condition, including, among others, statements regarding anticipated macroeconomic, end-market and industry environments, initiativ ...