Generac (NYSE:GNRC) Q4 2025 Earnings call February 11, 2026 10:00 AM ET Company ParticipantsAaron Jagdfeld - President and CEOKris Rosemann - VP of Investor RelationsYork Ragen - CFOConference Call ParticipantsBrian Drab - AnalystChristopher Glynn - AnalystDimple Gosai - AnalystGeorge Gianarikas - AnalystJeff Hammond - AnalystJoseph Osha - AnalystKeith Housum - AnalystMike Halloran - AnalystPraneeth Satish - AnalystStephen Gengaro - AnalystTed Giletti - AnalystTommy Moll - AnalystOperatorHello, and thank yo ...

Financial Data and Key Metrics Changes - In Q4 2025, the company reported distributable earnings of $37 million, or $0.26 per diluted share, while for the full year, distributable earnings totaled $139 million, or $0.98 per diluted share [4] - GAAP net income available to common stockholders was $26 million, or $0.18 per diluted share for Q4, and $114 million, or $0.81 per diluted share for the full year [4] - The total CECL allowance stood at $383 million at year-end, equating to 418 basis points of the loan portfolio's total amortized cost, down from 457 basis points a year ago [6] Business Line Data and Key Metrics Changes - The company committed $1.3 billion to new loans in Q4, with $1.1 billion funded at close, and completed approximately $200 million of gross add-on fundings for previously closed loans [6] - Loan repayments and sales totaled $852 million in Q4 and $2.9 billion for the full year, reflecting continued portfolio rotation [7] - The loan portfolio increased by approximately $1.6 billion year-over-year on an amortized cost basis, ending the year at approximately $8.8 billion [8] Market Data and Key Metrics Changes - Over 60% of the loan portfolio is now represented by post-2022 origination, indicating a shift in the company's lending strategy [7] - The portfolio has a weighted average unlevered all-in yield of 7.3%, with 99% first mortgages and 96% floating rate exposure [8] Company Strategy and Development Direction - The company is focused on managing its real estate owned portfolio to improve cash flow and maximize value at exit, particularly through leasing and cost-saving initiatives [2][3] - Management is exploring options to unlock additional value from adjacent land parcels and is evaluating strategies for the REO assets [2][18] - The company is considering various strategies for future growth, including potential investments in mezzanine and construction lending, or leveraging Apollo's access to business lines [27][29] Management's Comments on Operating Environment and Future Outlook - Management received positive feedback from investors regarding efforts to unlock value, but there are questions about future capital strategies [11] - The company is currently evaluating specific internal ideas for future strategies, while also engaging with external proposals [13] - Management indicated that the REO portfolio is not critical to the future direction of the company, allowing for independent decisions on asset monetization [20] Other Important Information - The company ended the year with $151 million of total liquidity and held over $430 million of unencumbered assets [8][9] - Book value per share was $12.14 at year-end, relatively flat compared to the prior quarter [9] Q&A Session Summary Question: Feedback from investors regarding the transaction value and stock trading - Management noted overwhelmingly positive feedback but acknowledged questions about future capital strategies and the disconnect between book value and stock price [11][12] Question: Marketing strategy for REO assets and timing for monetization - Management indicated that stabilization of The Brook is expected later this year, and the decision to monetize will depend on market conditions [17][18] Question: Dividend policy post-portfolio sale - Management envisions paying a Q1 dividend of $0.25 per share, subject to board approval, and will discuss future dividends as they approach Q2 [25][26] Question: Strategy for creating an entity that trades above book value - Management is considering various strategies, including a focus on earnings streams and potential investments that offer higher returns [27][29]

Financial Data and Key Metrics Changes - The company reported total gross revenues of BRL 15 billion, marking a 45% year-on-year growth, while net revenues grew 31% year-on-year to BRL 8.4 billion [12] - Net interest income increased by 41% year-on-year, driven by strong performance in payroll loans, credit cards, mortgages, and home equity loans [12] - The efficiency ratio improved from 48.4% to 45.5%, representing a nearly 300 basis points improvement within the year [16] Business Line Data and Key Metrics Changes - The loan portfolio grew by 36% year-on-year, with quarterly growth accelerating to 10% or 40% on an annualized basis [8] - Private payroll loans reached a portfolio of nearly BRL 2 billion with around 400,000-500,000 clients, showing strong digital distribution capabilities [5] - Credit card volume grew by 29%, with the reshaping strategy driving monetization and profitability [8] Market Data and Key Metrics Changes - The company was the fastest-growing financial institution in Brazil among those with over 20 million clients, with 7 million new clients welcomed in the year [2][3] - The transaction volume through Pix reached BRL 1.5 trillion for the year, leading to a market share of 8.5% [4] - The average balance per active client reached 2.1 thousand reais, with total funding growing 32% year-on-year [10] Company Strategy and Development Direction - The company aims to replicate Pix's success in other products, with home equity already ahead of Pix in market share [6] - The focus remains on continuous innovation and enhancing the client experience through a seamless integration of its seven verticals [7] - The company is committed to maintaining a balanced ratio of secured and unsecured loans while pursuing growth in its credit portfolio [5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that 2026 will be another excellent year for the company, highlighting the strength of its platform and operational strategies [18] - The company anticipates a cost of risk between 5.5% and 6% for 2026, with expectations of asset quality pressure in the industry [49] - Management emphasized the importance of technology and innovation in improving efficiency and operational leverage [68] Other Important Information - The company achieved a net income of BRL 1.3 billion, surpassing a 15% ROE in the last quarter [17] - The cost of funding improved to 65.6% of CDI, showcasing the strength of the company's funding strategy [11] - The company plans to maintain a 20% payout ratio for dividends, balancing growth and capital needs [26] Q&A Session Summary Question: Concerns about efficiency ratio progress - Management acknowledged the slow progress in efficiency but highlighted significant improvements in ROE and client growth, reaffirming commitment to the 60/30/30 plan [20][22] Question: Future dividend payments - Management confirmed a 20% payout ratio for dividends will continue as long as it does not impact growth execution [25][26] Question: Fee income growth expectations - Management noted that fee income growth was impacted by a strong increase in net interest income, leading to a compression in the fee income ratio [30][31] Question: Provisioning and asset quality concerns - Management explained that the asset quality metrics are performing as planned, with specific adjustments made to the mortgage portfolio to align with best practices [45][48] Question: Growth expectations for private payroll loans - Management indicated strong growth in private payroll loans, with expectations for continued growth as the product matures and market share increases [56][57]

Lithia Motors (NYSE:LAD) Q4 2025 Earnings call February 11, 2026 10:00 AM ET Speaker2Greetings and welcome to the Lithia & Driveway 2025 fourth quarter earnings conference call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce y ...

Martin Marietta Materials (NYSE:MLM) Q4 2025 Earnings call February 11, 2026 10:00 AM ET Speaker16Ladies and gentlemen, welcome to Martin Marietta's fourth quarter and full year 2025 earnings conference call. All participants are in a listen-only mode. A question-and-answer session will follow the company's prepared remarks. As a reminder, today's call is being recorded and will be available for replay on the company's website. I will now turn the call over to your host, Ms. Jacklyn Rooker, Martin Marietta' ...

Fourth Quarter 2025 Results February 11, 2026 Cautionary Statement Regarding Forward-Looking Statements This presentation, and other statements that Vertiv may make in connection therewith, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to Vertiv's future financial or business performance, strategies or expectations, and as such are not historical facts. This includes, without limitation, statements regarding Vertiv's financial ...

Financial Data and Key Metrics Changes - Underwriting profit increased significantly from $9 million in 2024 to $67 million in 2025, marking a substantial improvement in financial performance [6] - Net investment income grew by nearly 20%, contributing to the overall financial health of the company [6] - Full-year operating earnings per share improved by 80%, reaching $4.60, while book value per share increased by over $6 to $36.88 [10] - The annual combined ratio improved to 94.8%, reflecting ongoing enhancements in the underlying loss ratio, catastrophe loss ratio, and expense ratio [6][10] Business Line Data and Key Metrics Changes - The core commercial business, which includes small business, middle market, and construction, experienced the strongest growth, with record new business production of $247 million [12][13] - Specialty E&S net written premium grew at a double-digit pace for both the fourth quarter and the full year, despite emerging competitive pressures [14] - The surety business also delivered double-digit net written premium growth for the quarter and full year, indicating strong momentum [15] Market Data and Key Metrics Changes - Rate increases moderated to 4.8% for the quarter, primarily in the property segment, while casualty lines experienced more modest impacts [13] - The underlying loss ratio improved to 55.4% in the fourth quarter, reflecting the quality of the portfolio developed over the last three years [16] - The fourth quarter catastrophe loss ratio was 1.2%, and the full year catastrophe loss ratio of 3.2% outperformed expectations [18] Company Strategy and Development Direction - The company has undergone significant transformation since late 2022, focusing on deepening underwriting expertise and enhancing actuarial insights [5] - Strategic investments in technology are aimed at improving operational efficiency and expanding underwriting capabilities, which are expected to generate significant operational efficiencies [8] - The company is committed to maintaining a conservative posture with reserves to protect its balance sheet and ensure long-term stability [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate a more competitive market while maintaining disciplined underwriting practices [27] - The company anticipates continued profitable growth in 2026, supported by a strong capital position and improved profitability metrics [11][24] - Management highlighted the importance of maintaining strong relationships with distribution partners and emphasized the ongoing commitment to long-term value creation for shareholders [11] Other Important Information - The board of directors declared a 25% increase in the quarterly cash dividend from $0.16 per share to $0.20 per share, reflecting confidence in the company's financial performance [11][23] - The company reported a strong return on equity of 13.7%, the best in nearly two decades, indicating robust financial health [7][10] Q&A Session Summary Question: Current pricing expectations in a competitive market - Management acknowledged increased competition but emphasized that pricing remains rational and attractive, with a focus on disciplined risk selection [27] Question: Long-term target for underwriting expense ratio - The company targets a run rate of about 35% for the expense ratio, with expectations for gradual reduction over time as growth continues [30][31] Question: Dynamics affecting profitability in the other liability line - Management noted pressure on profitability in the umbrella line due to large losses but is taking a conservative approach to pricing and reserves [36][37] Question: Impact of social inflation on umbrella line - Management indicated that while they have not seen significant nuclear verdicts, they are guarding against social inflation through careful pricing and reserve management [39]

SUPPLEMENTAL SLIDES YEAR END 2025 RESULTS February 11, 2026 LEGAL DISCLAIMER Forward-Looking Statements This presentation contains "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These forward-looking statements include, but are not limited to, statements concerning our financial guidance, plans, strategies, objectives, expected performanc ...

Olema Pharmaceuticals (NasdaqGS:OLMA) 2026 Conference February 11, 2026 10:00 AM ET Company ParticipantsSean Bohen - CEOModeratorThanks, everyone, for continuing to join us. My name is Brad Canino. Happy to be sharing the stage with Sean Bohen, CEO of Olema. Sean, thank you so much for joining us.Sean BohenThank you, Brad.ModeratorMaybe a quick intro to the company would be helpful. You also did have an executive change recently, so maybe speak on that and how you're preparing the company for the next stage ...

February 10, 2026 Fourth Quarter & Full Year 2025 Earnings Presentation Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Words such as "anticipate", "believe", "continue", "could", "estimate", "expect", "hope", "intend", "may", "might", "plan", "possible", "potential", "predict", "project", "should", "strive", "seeks", "plans", "would", "will", "understand" and similar words are i ...