Colgate-Palmolive Company (NYSE:CL) Q4 2025 Earnings call January 30, 2026 08:30 AM ET Company ParticipantsAndrea Teixeira - Executive DirectorBonnie Herzog - Managing DirectorDara Mohsenian - Managing Director in US Beverage and Household Products SectorsFilippo Falorni - Director in Equity ResearchJohn Faucher - Chief Investor Relations Officer and EVP in M&AKaumil Gajrawala - Managing Director in Beverage, Household Products, and HALO StrategyKevin Grundy - Managing DirectorLauren Lieberman - Managing Di ...

Financial Data and Key Metrics Changes - The company reported net income available to common shareholders of $19.6 million or $0.96 per diluted share for Q4 2025, and $73.4 million or $3.61 per diluted share for the full year [4] - Return on average assets was 120 basis points for the year, while return on average equity was 12.38%, both exceeding annual guidance [4] - The efficiency ratio for the year was 58% [4] Business Line Data and Key Metrics Changes - Total loans increased by 1.5% in Q4 and 4% year-over-year to $4.66 billion, driven by strong demand in commercial lending [6] - Commercial business loans were down modestly on a linked-quarter basis but up 11% year-over-year, while commercial mortgage loans increased by 4% from the previous quarter and 6.5% year-over-year [6] - Residential lending grew modestly, up 1% during both the 3 and 12 months ended December 31, 2025 [7] - Consumer indirect loans decreased by 3.7% in Q4 and 4.5% for the year to $807 million [8] Market Data and Key Metrics Changes - Year-end total deposits were $5.21 billion, down 2.8% from September 30, driven by seasonal public deposit outflows [9] - Deposits were up 2% year-over-year despite the ongoing wind down of the banking-as-a-service line of business [9] Company Strategy and Development Direction - The company is focused on organic credit discipline growth, prudent expense management, and building a strong capital position to deliver long-term value to shareholders [22] - The company aims to drive sustainable growth through its community bank and wealth management firm, leveraging its size and market position as competitive advantages [22][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential of Upstate New York markets, particularly with the recent $100 billion investment by Micron Technology [7] - The company anticipates higher performance for full year 2026, targeting a return on average assets of at least 122 basis points and an efficiency ratio below 58% [12] - Management expects to maintain a focus on profitable spreads and favorable credit mix, with a targeted annual loan growth of about 5% driven by commercial lending [14] Other Important Information - The company completed an $80 million subordinated debt offering with a fixed rate of 6.5%, which is favorable compared to previous issuances [5] - The company reported a BBB- rating from Kroll with a stable outlook, reflecting improved profitability and capital position [6] Q&A Session Summary Question: Margin outlook and expected cadence - Management indicated that margins were impacted by the sub debt raise and expect margins to expand incrementally throughout the year [26] Question: Loan growth and indirect auto portfolio management - Management confirmed intentional management of the indirect auto portfolio and expressed confidence in commercial lending growth opportunities [30] Question: Share buyback strategy - Management noted that share buybacks remain an attractive capital allocation option, with a focus on maintaining Common Equity Tier 1 above 11% [34] Question: ROA improvement potential - Management highlighted that accelerated asset originations could positively impact ROA, but profitability remains a priority over growth [40] Question: Deposit targets and initiatives - Management emphasized a focus on core deposit acquisition and successful treasury management offerings to drive deposit growth [43]

Financial Data and Key Metrics Changes - The company reported net income available to common shareholders of $19.6 million or $0.96 per diluted share for Q4 2025, and $73.4 million or $3.61 per diluted share for the full year [4] - Return on average assets was 120 basis points for the year, while return on average equity was 12.38%, both exceeding annual guidance [4] - The efficiency ratio for the year was 58% [4] Business Line Data and Key Metrics Changes - Total loans increased by 1.5% in Q4 and 4% year-over-year to $4.66 billion, driven by strong demand in commercial lending [6] - Commercial business loans were down modestly on a linked-quarter basis but up 11% year-over-year [7] - Residential lending grew modestly, up 1% during both the 3 and 12 months ended December 31, 2025 [8] - Consumer indirect loans decreased by 3.7% in Q4 and 4.5% for the year to $807 million [9] Market Data and Key Metrics Changes - Year-end total deposits were $5.21 billion, down 2.8% from September 30, driven by seasonal public deposit outflows [10] - Deposits were up 2% year-over-year despite the ongoing wind down of the banking-as-a-service line of business [10] - The company expects low single-digit deposit growth year-over-year amid a highly competitive landscape [17] Company Strategy and Development Direction - The company is focused on organic growth, credit discipline, and maintaining a strong capital position to deliver long-term value to shareholders [24] - The strategic plan emphasizes deep relationships, prudent expense management, and balancing investments in people and technology [24] - The company aims to drive sustainable growth through its community bank and wealth management firm [25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the durability and growth potential of Upstate New York markets, particularly with the recent investment by Micron Technology [8] - The company anticipates stronger residential production in 2026, supported by new producers building their clientele [9] - Management expects a targeted return on average assets of at least 122 basis points and return on average equity exceeding 11.9% for 2026 [13] Other Important Information - The company approved a more than 3% increase to its quarterly dividend and a new share repurchase plan in 2025 [5] - The company completed an $80 million subordinated debt offering with a favorable fixed rate of 6.5% [5] - The company reported a BBB- rating from Kroll with a stable outlook, reflecting improved profitability and capital position [6] Q&A Session Summary Question: Margin outlook and expected cadence - Management indicated that margins were impacted by the sub debt raise and expect incremental expansion throughout the year [28] Question: Loan growth outlook and indirect auto portfolio - Management confirmed intentional management of the indirect auto portfolio and expressed confidence in commercial loan growth opportunities [32] Question: Share buyback strategy - Management stated that share buybacks remain an attractive capital allocation option, with a focus on maintaining Common Equity Tier 1 above 11% [36] Question: ROA improvement potential - Management noted that accelerated asset originations could impact ROA, but they prioritize profitability over growth [41] Question: Deposit growth initiatives - Management emphasized a focus on core deposit acquisition and the success of treasury management offerings in driving commercial deposit growth [44]

Financial Data and Key Metrics Changes - In Q4 2025, the company achieved a 14% growth in EPS and a 7% growth for the full year, aligning with mid to high single-digit guidance [9] - The operating ratio improved to 60.1% in Q4, a 250 basis point improvement year-over-year, and 61.7% for the full year, improving 120 basis points compared to 2024 [9][33] - Cash flow generated was $3.3 billion, up 8% driven by cash from operations, with capital spending remaining disciplined [9][37] Business Line Data and Key Metrics Changes - The company saw a 5% year-over-year increase in workload, supported by record-setting grain tonnage from Western Canada [18] - Intermodal revenues increased by 13% internationally and 6% domestically, with strong performance at Vancouver and Prince Rupert [25] - Petroleum and Chemicals segment experienced growth across all areas, particularly a 9% increase in natural gas liquids volumes [26] Market Data and Key Metrics Changes - The company faced continued softness in key markets like forest products and metals, impacted by weak fundamentals and tariffs [25][30] - Tariffs and trade uncertainty negatively impacted full year 2025 revenues by over $350 million [27] - The outlook for 2026 suggests volumes will be flattish compared to 2025, with expectations of continued pressure in forest products and metals [12][30] Company Strategy and Development Direction - The company is focused on disciplined execution, prioritizing levers it can control, and maintaining strong cash flow while returning excess capital to shareholders [11][13] - The management emphasized the importance of operational efficiency and cost control, with a commitment to improving margins as volumes return [14][22] - The company is positioned to leverage its access to North American markets and natural resources, aiming to support customers as trade flows evolve [16][58] Management's Comments on Operating Environment and Future Outlook - The management acknowledged high uncertainty in the economic environment, with muted growth expectations and challenges related to tariffs [12][30] - The company plans to continue focusing on productivity and cost control, with a base case expectation of flat volumes for 2026 [12][39] - Management expressed confidence in the underlying earnings power of the business, despite current headwinds, and highlighted the potential for growth in natural resources and trade diversification [52][77] Other Important Information - The board approved a 3% increase in dividends, marking the 30th consecutive year of dividend growth [37] - A new share buyback program was authorized, allowing the repurchase of up to 24 million common shares [38] Q&A Session Summary Question: Update on incremental revenue target - The company closed with $100 million in incremental revenue for Q4, with a pipeline of another $100 million developing in January [45] Question: Clarification on depreciation and earnings growth - Depreciation variance was due to a favorable study and corrections from past acquisitions; the company is experiencing unique headwinds affecting earnings growth [49][50] Question: Outlook on mix and differentiated growth opportunities - The mix impact for 2026 is expected to be similar to 2025, with opportunities in northern markets and natural resources, particularly in agriculture and energy [56][58] Question: Guidance on volume and earnings shape for 2026 - The first half of 2026 is expected to be softer, with improvement anticipated in the second half, influenced by share buybacks [62] Question: Clarification on free cash flow conversion - The company expects improved free cash flow conversion in 2026, despite a sizable cash tax payment impacting the effective tax rate [80]

Regeneron Pharmaceuticals (NasdaqGS:REGN) Q4 2025 Earnings call January 30, 2026 08:30 AM ET Company ParticipantsAkash Tewari - Managing Director and Global Head of Biopharmaceutical ResearchAlexandria Hammond - Director and Head of TherapeuticsChris Raymond - Managing DirectorChristopher Fenimore - EVP and CFODavid Risinger - Senior Managing DirectorGeoff Meacham - Managing DirectorGeorge Yancopoulos - Board Co-Chair, Co-Founder, President, and Chief Scientific OfficerLeonard Schleifer - Board Co-Chair, Co ...

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Colgate-Palmolive Company (NYSE:CL) Q4 2025 Earnings call January 30, 2026 08:30 AM ET Company ParticipantsAndrea Teixeira - Executive DirectorBonnie Herzog - Managing DirectorDara Mohsenian - Managing Director in US Beverage and Household Products SectorsFilippo Falorni - Director in Equity ResearchJohn Faucher - Chief Investor Relations Officer and EVP in M&AKaumil Gajrawala - Managing Director in Beverage, Household Products, and HALO StrategyKevin Grundy - Managing DirectorLauren Lieberman - Managing Di ...

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