Iron Mountain (NYSE:IRM) Q4 2025 Earnings call February 12, 2026 08:30 AM ET Company ParticipantsBarry Hytinen - EVP and CFOBill Meaney - President and CEOMark Rupe - SVP of Investor RelationsConference Call ParticipantsAndrew Steinerman - AnalystBrendan Lynch - AnalystEric Luebchow - AnalystGeorge Tong - AnalystJonathan Atkin - AnalystNate Crossett - AnalystTobey Sommer - AnalystOperatorGood morning, and welcome to the Iron Mountain Fourth Quarter 2025 Earnings Conference Call. All participants will be in ...

Restaurant Brands International (NYSE:QSR) Q4 2025 Earnings call February 12, 2026 08:30 AM ET Company ParticipantsJosh Kobza - CEOKendall Peck - Head of Investor RelationsPatrick Doyle - Executive ChairmanSami Siddiqui - CFOConference Call ParticipantsAndrew Charles - AnalystBrian Bittner - AnalystBrian Harbour - AnalystBrian Mullan - AnalystChristine Cho - AnalystDanilo Gargiulo - AnalystDavid Palmer - AnalystDennis Geiger - AnalystJohn Ivankoe - AnalystOperatorGood morning, and welcome to the Restaurant ...

Restaurant Brands International (NYSE:QSR) Q4 2025 Earnings call February 12, 2026 08:30 AM ET Company ParticipantsJosh Kobza - CEOKendall Peck - Head of Investor RelationsPatrick Doyle - Executive ChairmanSami Siddiqui - CFOConference Call ParticipantsAndrew Charles - AnalystBrian Bittner - AnalystBrian Harbour - AnalystBrian Mullan - AnalystChristine Cho - AnalystDanilo Gargiulo - AnalystDavid Palmer - AnalystDennis Geiger - AnalystJohn Ivankoe - AnalystOperatorGood morning, and welcome to the Restaurant ...

Financial Data and Key Metrics Changes - Total revenue for Q4 2025 declined by 2.3% year-over-year, with full year revenue at approximately $8.6 billion [4][9] - Adjusted EBITDA grew nearly 8% year-over-year to just over $900 million, marking the first quarter of year-over-year adjusted EBITDA growth in 16 quarters [6][24] - Adjusted EBITDA margin expanded to over 41%, up 380 basis points year-over-year, while gross margin reached approximately 70%, up 180 basis points [6][24] Business Line Data and Key Metrics Changes - Broadband subscriber results showed a net loss of 62,000 subscribers in Q4, ending the year with 4.2 million broadband subscribers [17] - Fiber customer accounts grew by 33% year-over-year, reaching 716,000, with 12,000 net additions in Q4 [17][18] - Mobile lines reached 623,000, representing 35% year-over-year growth, with a net addition of 38,000 lines in Q4 [18] - Video subscribers decreased by 13% year-over-year, with a net loss of 49,000 in Q4, although this was the lowest quarterly loss in over five years [20] Market Data and Key Metrics Changes - Connectivity and all other revenue grew by 2% year-over-year, supported by mobile revenue growth of over 40% and business services growth of over 8% [22] - Residential ARPU grew by 0.4% to $134.49, with broadband ARPU increasing by 2.8% year-over-year to $76.71, the highest in 14 quarters [23][24] Company Strategy and Development Direction - The company is focused on simplifying operations to enhance customer and employee experiences, with priorities including improving broadband trajectory and maintaining financial discipline [10][11] - Investments in AI and automation are being leveraged to improve operational efficiency and customer service [12][13] - The company aims to balance capital expenditures with long-term economics, emphasizing fiber expansion and targeted network upgrades [15][16] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the hypercompetitive environment and emphasized the importance of disciplined execution and operational improvements made in 2025 to support long-term EBITDA stability [40][41] - The company is optimistic about its ability to improve broadband trends and customer retention through new pricing and product strategies [38][39] Other Important Information - Cash capital expenditures for the full year totaled approximately $1.3 billion, with a capital intensity of less than 16%, the most efficient in the last four years [27][28] - Lightpath revenue reached $468 million in 2025, representing 13% growth year-over-year, driven by demand from hyperscale customers [29] Q&A Session Summary Question: Update on broadband subscribers and expectations for 2026 - Management noted that Q4 faced unprecedented competitive pressures but emphasized foundational work done in 2025 to improve market positioning and customer experience [36][38] Question: Balance sheet update and debt management - Management highlighted the importance of a strong capital structure and mentioned recent debt refinancings to enhance liquidity and financial flexibility [45][46] Question: Strength of residential broadband ARPU - Management reported a 0.4% year-over-year growth in residential ARPU, driven by broadband and mobile services, despite video headwinds [50][51] Question: Expectations around video programming costs - Management indicated a focus on renegotiating programming costs, achieving a 16% reduction in the quarter, and emphasized a disciplined approach to pricing and packaging [56][57] Question: Competitive landscape and market pressures - Management described the competitive environment as intense, particularly in the East with significant fiber overbuild, but expressed confidence in their product offerings and pricing strategies [65][66]

Zebra Technologies (NasdaqGS:ZBRA) Q4 2025 Earnings call February 12, 2026 08:30 AM ET Company ParticipantsBill Burns - CEOGuy Hardwick - DirectorJoseph Giordano - Managing DirectorMike Steele - VP of Investor RelationsNathan Winters - CFOPiyush Avasthy - Equity Research Senior AssociateConference Call ParticipantsAndrew Buscaglia - Senior Analyst of US Industrial TechnologyBrad Hewitt - VP and Equity AnalystJim Ricchiuti - Managing Director and Senior Equity Research AnalystKeith Housum - Equity Research A ...

Zoetis (NYSE:ZTS) Q4 2025 Earnings call February 12, 2026 08:30 AM ET Company ParticipantsJon Block - Managing DirectorKristin Peck - CEOSteve Frank - VP of Investor RelationsWetteny Joseph - CFOConference Call ParticipantsAndrew Alfonso - Executive Director and Senior Equity Research AnalystBrandon Vazquez - Equity Research Analyst in Healthcare and Medical TechnologyChris LoBianco - VP and Equity Research AnalystChris Schott - Managing Director and Senior Equity Research AnalystDaniel Clark - VP and Equit ...

PBF Energy (NYSE:PBF) Q4 2025 Earnings call February 12, 2026 08:30 AM ET Company ParticipantsColin Murray - VP of Investor RelationsJoe Marino - CFOMatt Lucey - CEOMike Bukowski - SVP and Head of RefiningTom O'Connor - EVPConference Call ParticipantsDoug Leggate - AnalystJason Gabelman - AnalystManav Gupta - AnalystMatt Amil - AnalystPaul Cheng - AnalystPhilip Jungwirth - AnalystRyan Todd - AnalystOperatorGood day, everyone, and welcome to the PBF Energy Fourth Quarter 2025 Earnings Conference Call and Web ...

Financial Data and Key Metrics Changes - AMG reported full-year economic earnings per share of $26.05, a 22% increase year-over-year, driven by strong organic growth and capital allocation strategy [4][27] - Adjusted EBITDA for the fourth quarter was $378 million, growing 34% year-over-year, while full-year Adjusted EBITDA reached $1.1 billion, up 11% from 2024 [25][26] - Economic earnings per share for the fourth quarter were $9.48, reflecting a 45% year-over-year growth [27] Business Line Data and Key Metrics Changes - AMG's affiliates generated approximately $29 billion in annual net client cash flows, representing an organic growth rate of 4% [4] - The company added approximately $97 billion in alternative assets under management (AUM), a 35% increase, with $74 billion in net inflows from existing affiliates and $23 billion from new partnerships [5][11] - Fee-related earnings grew 20% year-over-year for the fourth quarter and 8% for the full year, driven by investment performance and organic growth [26] Market Data and Key Metrics Changes - AMG's private markets affiliates raised $9 billion in the fourth quarter, bringing full-year fundraising to $24 billion, representing an 18% annualized organic growth rate [18] - In liquid alternatives, AMG posted record net inflows of $15 billion in the fourth quarter and $51 billion for the full year, reflecting a 36% annualized organic growth rate [17] - The company experienced net outflows of approximately $12 billion in equities for the quarter and $45 billion for the year, indicating industry headwinds [20] Company Strategy and Development Direction - AMG's strategy focuses on expanding its footprint in private markets and liquid alternatives, with a commitment to invest in high-quality affiliates and innovative product development [12][19] - The company aims to enhance its U.S. wealth platform, which has reached approximately $8 billion in alternative AUM, and continues to innovate in product offerings [21][22] - AMG plans to repurchase at least $400 million in shares in 2026, reflecting its commitment to return capital to shareholders while pursuing growth investments [35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term prospects of the business, highlighting the strong momentum in alternatives and the ongoing demand for liquid alternative strategies [12][16] - The company anticipates continued growth from existing affiliates, particularly AQR and Pantheon, which are expected to contribute significantly to earnings in 2026 [30][66] - AMG's reputation and capital flexibility are at an all-time high, positioning the company for further success in the coming years [13] Other Important Information - AMG repurchased approximately $700 million of its shares in 2025, representing 11% of shares outstanding [5] - The company has committed over $1 billion in capital across five new investments, indicating a strong pipeline for growth [6][33] - The departure of Tom Wojcik, the CFO, was acknowledged, with management expressing confidence in the leadership team's ability to continue executing the company's strategy [14][15] Q&A Session Summary Question: Outlook for AQR in 2026 - Management noted that AQR is expected to be a more meaningful contributor in 2026, with strong organic growth and diverse flows across various strategies [38][40] Question: Pipeline for Private Markets in 2026 - Management highlighted Pantheon's expertise in secondaries and the ongoing innovation in private markets products, which are expected to drive organic growth [47][49] Question: Global Wealth Management Growth - Management discussed the significant growth in the U.S. wealth management platform and the potential for growth in international markets, emphasizing a holistic approach to wealth distribution [58][61] Question: Performance Fees Outlook - Management indicated that AQR contributed a double-digit percentage to EBITDA in 2025 and is expected to exceed 20% in 2026, with a stable and predictable earning stream from performance fees [64][66]

Financial Data and Key Metrics Changes - In 2025, Diebold Nixdorf achieved revenue growth, with Adjusted EBITDA reaching $485 million and free cash flow more than doubling to a record $239 million, reflecting a significant improvement in financial stability and predictability [4][9][23] - Adjusted earnings per share (EPS) for fiscal year 2025 was $5.59, more than doubling year-over-year, even when excluding certain non-cash, non-operational tax benefits [10][22] Business Line Data and Key Metrics Changes - In banking, revenue grew 11% year-over-year in Q4, with product revenue increasing by 20% driven by strong ATM recycler adoption [24][25] - Retail revenue increased 12% year-over-year in Q4, with product revenue growing 16% supported by strong point-of-sale and self-checkout performance [25][26] Market Data and Key Metrics Changes - North America showed strong momentum in both banking and retail, with significant wins in grocery and pharmacy sectors, while Europe also demonstrated recovery and growth in ATM technology refresh cycles [12][70] - The Asia-Pacific and Middle East regions reported significant wins, particularly in India, where the company is now certified to participate in all public bank tenders [12][71] Company Strategy and Development Direction - The company is focusing on expanding its role beyond ATMs to encompass the broader branch and transaction ecosystem, emphasizing automation and efficiency [5][10] - Lean operating model initiatives are being implemented to drive cost reductions and improve operational efficiency across the organization [16][17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to generate strong and consistent cash flow, with expectations for continued growth in 2026 [4][31] - The company anticipates a revenue range of $3.86 billion to $3.94 billion for 2026, supported by a strong product backlog and improved delivery lead times [28][30] Other Important Information - The company received two credit rating upgrades in 2025, reflecting improvements in its operating and financial models [6][32] - Diebold Nixdorf returned $128 million to shareholders through share repurchases, representing approximately 6% of the company's total shares outstanding [23][32] Q&A Session Summary Question: Insights on Q1 performance expectations - Management indicated strong visibility into Q1 revenues due to a $730 million product backlog and a strong order entry month in January, with expected revenue cadence similar to 2025 [40][41] Question: Context on retail logo wins in the U.S. - The company secured nine new logos, primarily in grocery and pharmacy sectors, with a strong pipeline for future growth driven by AI solutions [46][49] Question: Improvement potential in days sales outstanding (DSO) and days inventory outstanding (DIO) - Management noted opportunities for further improvement in DSO and DIO, with expectations of reducing DSO by an additional 4-5 days and DIO benefiting from local manufacturing strategies [56][58] Question: Capital allocation priorities - The company remains focused on share repurchases as the best return on investment while maintaining flexibility for potential tuck-in acquisitions [60][62] Question: Demand for ATMs across different regions - North America continues to show strong demand for ATMs, with positive momentum in Latin America and Europe, while Asia-Pacific is experiencing significant wins [68][70]

Bruker (NasdaqGS:BRKR) Q4 2025 Earnings call February 12, 2026 08:30 AM ET Speaker8Good morning, everyone, and welcome to the Bruker Corporation fourth quarter 2025 earnings conference call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star and then one using a touchtone telephone. To withdr ...