Financial Data and Key Metrics Changes - The fourth quarter consolidated volume was 4.2 billion gallons, down 5% year-over-year, with full-year volume totaling 16.9 billion gallons, down approximately 4% [16] - Fourth quarter gross profit was $235 million, down 9% year-over-year, and full-year gross profit was $948 million, down 8% from 2024 [16][17] - Total non-GAAP adjustments in the fourth quarter were $325 million, with significant impairments primarily within the land segment [15] Business Line Data and Key Metrics Changes - Aviation volumes in the fourth quarter were 1.8 billion gallons, down 5% year-over-year, but gross profit increased approximately 8% to $130 million due to the Universal Trip Support acquisition [17][18] - Land volumes declined 9% year-over-year in the fourth quarter, with gross profit down 32% to $71 million, driven by unfavorable market conditions and exit activities [20][21] - Marine volumes were approximately 4.1 million metric tons in the fourth quarter, flat year-over-year, while gross profit increased 2% to $35 million [23] Market Data and Key Metrics Changes - The company is focusing on North America for its land business, emphasizing higher margin activities such as cardlock and retail, as well as natural gas [8][10] - The exit from European power and energy management businesses shifts focus to core areas that deliver consistent profitability [10] Company Strategy and Development Direction - The company is reshaping its portfolio to concentrate on businesses that deliver attractive and predictable returns, enhancing financial discipline and operational efficiency [6][12] - The acquisition of Universal Weather and Aviation's trip support services is expected to strengthen the company's role in global aviation services [7] - The strategic shift in the land segment aims to enhance returns and improve profitability, with a focus on cardlock, retail, and natural gas [22] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that the fourth quarter performance fell short of expectations due to competitive pressures and underperformance in certain business lines [12] - The outlook for 2026 reflects confidence in the structural changes made, aiming for more consistent performance and growth in core businesses [13][30] - Management expects adjusted EPS for 2026 to be in the range of $2.20-$2.40, indicating solid year-over-year growth [27] Other Important Information - The company generated $34 million of operating cash flow and $13 million of free cash flow in the fourth quarter, with full-year free cash flow totaling $227 million [28] - An incremental $150 million share repurchase authorization was approved, reflecting confidence in the business [29] Q&A Session Summary Question: Impact of Universal Trip acquisition and tank wagon business sale - The Universal Trip Support business is expected to contribute approximately $70 million in gross profit for 2026, while the tank wagon business exit will shed about 1 billion gallons of volume [34][36] Question: Seasonality in land business after exiting European operations - The seasonality in the land business is expected to improve, with the main seasonality now related to aviation demand [41][42] Question: New model for managing fuel operations with independent operators - The new hybrid model allows for better cash flow and higher margins, with opportunities for growth in the convenience store space [46][47] Question: Competitive pressure in aviation and its implications - While competitive pressure is present, management is optimistic about finding new opportunities to expand airport locations and drive additional volume [50][51] Question: Factors for rebound in marine business - The marine business is influenced by macro factors such as price and volatility, with expectations for stability in 2026 [53][54]

Financial Data and Key Metrics Changes - In Q4 2025, American Coastal Insurance reported a net income of $26.6 million, with core income at $25.8 million, an increase of $19.8 million year-over-year due to a decrease in incurred losses from Hurricane Milton [9][10] - For the full year, net income reached $106.8 million, exceeding the initial guidance of $70 million to $90 million, and core income was $103.7 million, an increase of $26.8 million [4][10] - The combined ratio was 58.6% for the quarter and 60.1% for the full year, with a non-GAAP underlying combined ratio of 58.9% for the quarter, a decrease of 7 points from the prior year [10][11] - Cash and investments grew by 19.8% in 2025 to $647.7 million, and stockholders' equity increased by 34.8% to $317.6 million [11][12] Business Line Data and Key Metrics Changes - Premiums written increased approximately 59% compared to Q3 2025 but declined 19% year-over-year due to rate decreases influenced by Florida's legislative reforms [5][10] - Net premiums earned for the full year were $306.8 million, above the midpoint of the 2025 guidance of $290 million to $320 million [5][10] Market Data and Key Metrics Changes - The company noted that softer market conditions in commercial property insurance are expected to continue, impacting premium production [6] - The company is focusing on underwriting new profitable commercial residential property insurance business in various states, leveraging its technical expertise [7] Company Strategy and Development Direction - The company aims to improve its business profile by introducing new revenue and earnings growth pathways in the E&S market, while not aggressively pursuing growth in commercial property exposure in the short term [7] - The strategic transformation of the company has been described as spectacular, with a focus on maintaining underwriting discipline despite a competitive environment [4][5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to manage exposures and achieve revenue guidance for 2026, despite challenges in the current market environment [18][20] - The company is monitoring its stock price and considers share repurchases as an option, although it prioritizes special dividends based on loss results [35][48] Other Important Information - The company declared a special dividend of $0.75 per share in Q4, totaling $36.6 million [12] - The debt to total capital ratio was reported at 32%, with a long-term target of around 25% [34] Q&A Session Summary Question: Comments on gross premium results and premium orders - Management noted a 19% drop in gross premiums but highlighted a 60% rebound quarter-over-quarter, emphasizing the importance of managing exposures [16][18] Question: Expectations for revenue numbers - Management indicated confidence in achieving revenue guidance for 2026, despite potential volatility in written premiums [21][22] Question: Underwriting margins and catastrophe profiles in new markets - Management stated that underwriting margins in South Carolina and Texas are expected to be slightly higher than in Florida, with a focus on similar classes of commercial residential property [30][31] Question: Prioritization of deleveraging and capital return - Management confirmed that earning an underwriting profit and increasing shareholder equity are priorities, with plans to reduce financial leverage over time [34] Question: Update on ACES and market share expectations - Management indicated that ACES is expected to contribute a small percentage of total revenue in 2026, with a long-term goal of achieving market leadership [40][41] Question: Share repurchases - Management acknowledged the stock's undervaluation and indicated that share repurchases may be considered, but special dividends remain a priority [46][48]

GRAIL (NasdaqGS:GRAL) Q4 2025 Earnings call February 19, 2026 05:00 PM ET Company ParticipantsAaron Freidin - CFOAlex Dobbin - Director and Investor Relations ContactAndy Partridge - Chief Commercial OfficerBob Ragusa - CEODoug Schenkel - Managing Director of Life Science Tools and DiagnosticsJosh Ofman - PresidentSir Harpal Kumar - Chief Scientific Officer and President of InternationalSubbu Nambi - Managing DirectorConference Call ParticipantsCatherine Schulte - Senior Research AnalystDan Brennan - Senior ...

Sensata Technologies (NYSE:ST) Q4 2025 Earnings call February 19, 2026 05:00 PM ET Company ParticipantsAndrew Lynch - CFOJames Entwistle - Senior Director of Investor RelationsJoe Giordano - Managing DirectorJoseph Spak - Managing DirectorKosta Tasoulis - VP and Equity ResearchShreyas Patil - VP Equity ResearchStephan von Schuckmann - CEOSteven Fox - Founder and CEOConference Call ParticipantsLuke Junk - Senior Research AnalystMark Delaney - AnalystSamik Chatterjee - Managing Director and Equity Research An ...

Financial Data and Key Metrics Changes - In Q4 2025, revenue was $636 million, a decline of 110 basis points year-over-year, but increased 40 basis points when excluding FormSwift, which was a 150 basis point headwind [22] - Total ARR was $2.526 billion, down 190 basis points year-over-year, and down 30 basis points when excluding FormSwift [23] - Average revenue per paying user (ARPU) increased to $139.68 from $139.07 in the prior quarter, primarily due to FX tailwinds and a shift from annual to monthly plans [23][24] - Gross margin was 80.8%, down 230 basis points year-over-year, while operating margin was 38.2%, exceeding guidance of 37% [24][25] Business Line Data and Key Metrics Changes - The core FSS business showed steady growth in 2025, with improvements in funnel quality, pricing, and retention drivers [6][17] - The individuals business demonstrated growth, indicating that focused innovation can lead to better retention and growth [6] - The introduction of Dash capabilities within Teams plans has shown promising early engagement, with over half of active users returning multiple days per week [8] Market Data and Key Metrics Changes - The company exited Q4 with 18.08 million paying users, a sequential increase of approximately 10,000 users, driven by momentum in the simple plan [23] - The company expects modestly negative net new paying users in Q1 2026, largely due to seasonality and FormSwift headwinds, with flat growth anticipated for the remainder of the year [32] Company Strategy and Development Direction - The company aims to restore revenue growth while focusing on efficiency and improving the core business [12][16] - The strategy includes scaling Dash as a standalone product and integrating AI capabilities into the core FSS offering [10][19] - M&A is viewed as a potential growth lever, with a focus on strategic acquisitions that can expand the product portfolio and contribute to incremental ARR [19][82] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the direction of the company, emphasizing the importance of execution and scaling successful initiatives [12][22] - The company acknowledges the competitive landscape of the FSS market but believes that recent leadership changes and product innovations will drive sustained improvements in retention and growth [17][68] - The outlook for 2026 includes expectations for flat revenue growth, with continued investments in product development and customer engagement [32][33] Other Important Information - The company repurchased approximately 14 million shares in Q4, spending about $415 million, with $1.17 billion remaining under the share repurchase authorization [29] - The company has executed subleases in its real estate portfolio, expecting to generate approximately $97 million in total future cash payments [28] Q&A Session Questions and Answers Question: Can you provide quantitative metrics around Dash? - Management indicated that the focus is currently on product quality and engagement, with specific metrics to be shared as adoption scales [38][39] Question: What metrics can you provide around engagement with Dash? - Management noted strong early engagement from users, with good results from initial trials, and plans to accelerate the rollout of Dash [51] Question: What drove improvements in retention? - Improvements were attributed to new leadership and initiatives aimed at enhancing the customer journey and product experience [68]

Financial Data and Key Metrics Changes - For the fourth quarter of 2025, net income was $35.3 million or $0.54 per diluted share, while adjusted earnings per diluted share increased 20% to $0.59 compared to $0.49 in the prior year [8][15] - Full-year net income was $159.9 million or $2.42 per diluted share, compared to $147.6 million or $2.19 per diluted share in the prior year, with adjusted earnings per diluted share increasing 15.5% to $2.61 from $2.26 [13][29] - Full-year revenue increased 24.2% or $164.8 million to $846.1 million, with operating income growing 12.5% to $196 million and adjusted operating income increasing 25.8% to $237.6 million [14][29] Business Line Data and Key Metrics Changes - Total student enrollments grew 7.3% year-over-year, driven by 11.2% growth at AIUS, 6.6% growth at CTU, and 2.6% growth at St. Augustine [8][17] - CTU's revenue for the full year was $461.6 million, up 4.1% from the prior year, while operating income increased 3.4% to $180.6 million [19] - AIU System reported full-year revenue of $226 million, with operating income increasing 9.8% to $36 million [20] Market Data and Key Metrics Changes - The University of St. Augustine for Health Sciences ended the fall 2025 term with approximately 3,900 total students enrolled, reflecting growth in programs such as nursing and speech-language pathology [19][21] - The corporate student programs continue to provide accredited degree opportunities to employees, enhancing employee development and retention [10] Company Strategy and Development Direction - The company prioritizes student experience and academic outcomes, aiming for sustainable and responsible growth [5][10] - Strategic investments in technology and talent are being made to expand programs and enhance academic outcomes across institutions [10][32] - The company plans to continue investing in marketing and admissions to support future enrollment growth [20][31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in entering 2026 with positive momentum, expecting continued growth in revenue and operating income [11][29] - The company anticipates that high levels of student retention and engagement will continue into 2026, with prospective student interest expected to increase [30][31] - Management noted that changes in the regulatory environment are not expected to significantly impact prospective student interest or necessitate operational changes [30] Other Important Information - The company returned $157.6 million of capital to shareholders in 2025, including $120.8 million in share repurchases and $36.9 million in dividends [10][11] - A new share repurchase authorization of up to $100 million was approved by the board [11][27] - The effective tax rate for the full year was 26.3%, with expectations for 2026 to be between 23.5% and 24.5% [24][25] Q&A Session Summary Question: What are the expectations for student enrollment growth in 2026? - Management expects total enrollments at CTU to grow in 2026, supported by high levels of prospective student interest and continued investments in marketing and admissions [31] Question: How does the company plan to handle the impact of regulatory changes? - Management believes that there will not be a material impact on prospective students from regulatory changes, including the elimination of certain loan programs [30] Question: What is the outlook for adjusted operating income in 2026? - The company expects adjusted operating income to range between $250 million and $263 million for 2026, reflecting organic revenue and enrollment growth [29]

Universal Display (NasdaqGS:OLED) Q4 2025 Earnings call February 19, 2026 05:00 PM ET Company ParticipantsBrian Millard - CFODarice Liu - Senior Director of Investor RelationsSteve Abramson - President and CEOConference Call ParticipantsBrian Lee - Managing Director and Senior Equity Research AnalystJames Ricchiuti - Senior AnalystMartin Yang - Executive Director and Senior AnalystMehdi Hosseini - Senior Equity Research AnalystWoo Jin Ho - Senior AnalystOperatorGood day, ladies and gentlemen, and welcome to ...

Sprouts Farmers Market (NasdaqGS:SFM) Q4 2025 Earnings call February 19, 2026 05:00 PM ET Company ParticipantsCurtis Valentine - CFOJack Sinclair - CEONick Konat - President and COOSusannah Livingston - VP of Investor RelationsConference Call ParticipantsChuck Cerankosky - Managing Director, Principal, and Research AnalystEdward Kelly - Managing Director and Senior Equity Research AnalystJohn Heinbockel - Managing Director and Senior Research AnalystKelly Bania - Managing Director and Senior Equity Research ...

Opendoor Technologies (NasdaqGS:OPEN) Q4 2025 Earnings call February 19, 2026 05:00 PM ET Company ParticipantsAnthony Pompliano - Founder and CEOBrad Bonney - Chief Business OfficerCatherine Morgans - ShareholderChristy Schwartz - CFOKaz Nejatian - CEOKupa'a Mekalanakila - ShareholderMichael Judd - Head of Investor RelationsKaz NejatianGood afternoon, everyone. Early in my career, I used to write a plan that told my team what we were going to get done during any given cycle. Then at the end of the cycle, I ...

Live Nation Entertainment (NYSE:LYV) Q4 2025 Earnings call February 19, 2026 05:00 PM ET Company ParticipantsAmy Yong - SVP of Investor RelationsJoe Berchtold - CFOKutgun Maral - DirectorMichael Rapino - CEOStephen Laszczyk - VPConference Call ParticipantsBatya Levi - Equity Research AnalystBrandon Ross - Partner and Media and Technology AnalystCameron Mansson-Perrone - Equity Research AnalystDavid Karnovsky - Senior Research AnalystPeter Henderson - Equity Research AnalystRobert Fishman - Senior Research A ...