Financial Data and Key Metrics Changes - The company achieved fourth quarter 2025 operating earnings of $1.19 per share, bringing full year 2025 operating earnings to $5.97 per share, exceeding the top end of the guidance range [7][19] - Total shareholder return for 2025 was 29%, one of the highest in the industry [7] - The company reaffirmed its 2026 full-year operating earnings guidance range of $6.15-$6.45 per share and a long-term earnings growth rate of 7%-9% for 2026-2030, with an expected 9% CAGR [8][9] Business Line Data and Key Metrics Changes - Retail sales grew 7.5% in 2025 compared to 2024, driven by significant commercial and industrial sales growth of nearly 10% [21] - The generation and marketing segment saw meaningful performance, driven by favorable energy margins and contract optimization [19] Market Data and Key Metrics Changes - The company reported total system sales exceeding 200 million MWh for the first time in its history, highlighting historic load growth [20] - The company now has 56 gigawatts of firm incremental contracted load additions, doubling the previous figure of 28 gigawatts [10][22] Company Strategy and Development Direction - The company is focused on significant infrastructure investment to meet unprecedented customer demand across its 11-state regulated service territory [4][5] - AEP is deepening engagement with customers, regulators, and suppliers to align long-term goals and achieve favorable outcomes [5] - The company is exploring generation solutions, including small modular reactors and fuel cells, to support growing demand [11][12] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of scale in mitigating supply chain risks and ensuring resources are available to meet demand [5] - The company is committed to maintaining a healthy balance sheet, with an FFO to debt target of 14%-15% [29] - Management expressed confidence in the execution of their robust plan and the ability to capitalize on unprecedented growth opportunities [30] Other Important Information - The company has a $72 billion five-year capital plan, with an additional $5-$8 billion of confirmed or endorsed projects identified beyond the base plan [26] - Legislative and regulatory accomplishments in 2025 included the passage of legislation that reduces regulatory lag in several states [15] Q&A Session Summary Question: Can you provide insight on the impact of the doubled signed contract load on CAGR? - Management indicated that the $72 billion capital plan does not include the incremental load growth and will provide more definitive ideas on financing and growth rate in future calls [36] Question: What is the level of confidence in the ESAs given recent project pullbacks? - Management expressed confidence in the firm ESAs backed by financially secure counterparties and noted that local communities are generally supportive of economic development [42][44] Question: Can you provide details on the transmission projects and associated investments? - Management outlined approximately $5 billion associated with transmission projects, with specific amounts allocated to different regions [57] Question: How does the company view the potential for permitting reform? - Management is actively engaged with Senate partners to advocate for permitting reform to accelerate infrastructure development [112]

Financial Data and Key Metrics Changes - For Q4 2025, the company reported adjusted EBITDA of $232 million and free cash flow of $35 million, with full-year adjusted EBITDA slightly above the $1.1 billion midpoint of original guidance [4][23] - Total revenue for 2025 was $3.3 billion, with a Q4 contract drilling services revenue of $705 million and an adjusted EBITDA margin of 30% [23][24] - The total backlog as of February 11 stands at $7.5 billion, with approximately $2.3 billion scheduled for revenue conversion during the remainder of 2026 [24] Business Line Data and Key Metrics Changes - The company has seen strong booking levels across its fleet, with significant contracts awarded, including a 3-year contract with Aker BP valued at $473 million for the Noble GreatWhite [5][6] - The Noble Jayes de Souza was awarded a 2-year contract with Exxon in Nigeria valued at $292 million, and the Noble Developer received a 3-well contract with BP in Trinidad [6][8] - The company anticipates capital expenditures of approximately $160 million for the reactivation and certification of the GreatWhite [5] Market Data and Key Metrics Changes - The contracted UDW rig count has increased to 105, up from a low of 97 early last year, with a contracted utilization rate of 95% [10][11] - The average Brent crude price in 2025 was $68 per barrel, down 15% compared to 2024, yet the company achieved a 30% year-over-year backlog growth [19] - The U.S. Gulf market has softened, with the contracted UDW rig count at 21, which is 1-2 rigs below last year's average [15] Company Strategy and Development Direction - The company is focusing on high-end deepwater and CJ70 jackup markets, having completed the sale of five jackups to Borr Drilling for $360 million [20][21] - The strategic investment in the GreatWhite is expected to enhance the long-term earnings profile and NAV of the rig, positioning it well in the Norwegian market [6][21] - The company aims to maintain robust shareholder capital returns while preparing for a meaningful step-up in free cash flow next year [20][29] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the demand for deepwater rigs, citing a robust pipeline of open demand and a potential tightening market by 2027 [32][80] - The company noted that while there are macro uncertainties, the backlog progress has formed a strong foundation for rising utilization and free cash flow [19][20] - Management highlighted the importance of crude prices for near-term projects but remains optimistic about the long-term outlook for deepwater developments [50][51] Other Important Information - The company has a unique backlog curve, with over 90% of its 24 floaters contracted, and anticipates an annualized run rate of approximately $1.3 billion of EBITDA by the second half of 2027 [31] - The company is committed to the CJ70 market in Norway and the North Sea, with early indications of strong utilization outlook for this fleet [21][68] Q&A Session Summary Question: Thoughts on industry consolidation - Management acknowledged that consolidation is a path for the industry post-COVID and expressed hope that it will make the industry more efficient [36][38] Question: Scale and opportunities for further expansion - Management believes they have sufficient scale and will continue to evaluate opportunities that align with the company's strategy [39][40] Question: Recent strength in the sixth-generation market - Management indicated that the recent contracts for sixth-generation rigs are project-specific and sustainable, not driven by value decisions from customers [44][46] Question: Conditions for upward momentum in rates - Management noted that both crude prices and additional contracts are necessary to achieve a tighter market, with optimism for 2027 [49][51] Question: Day rate improvement expectations - Management sees a possibility for day rates to improve but stops short of making it a base case, indicating a mix of factors will influence this [55][56] Question: Petrobras negotiations and contract awards - Management is hopeful for news in the coming months regarding ongoing negotiations with Petrobras, which are complex due to multiple dynamics [59][60] Question: Norwegian market outlook - Management expressed cautious optimism about the Norwegian market, noting contracts for CJ70s and ongoing conversations with multiple customers [66][68] Question: Future of specific rigs in the fleet - Management is exploring niche opportunities for the Globetrotter and is optimistic about the Deliverer's potential for work in 2027 and beyond [70]

LINCOLN ELECTRIC HOLDINGS, INC. Lincoln Electric Holdings, Inc. Q4 & FullYear 2025 Earnings & 2030 Targets Q4 & FY2025 Earnings & 2030 Targets February 12, 2026 February 12, 2026 Safe Harbor and Regulation G Disclosures Forward-Looking Statements: Statements made during this presentation which are not historical facts may be considered forward-looking statements. Forward- looking statements involve risks and uncertainties that could cause actual events or results to differ materially from those expressed or ...

Financial Data and Key Metrics Changes - In 2025, the company achieved dollar-based EPS growth of 6% to $3.73 per share, with a 9.4% increase in constant currency, reflecting a CAGR of 6.7% since 2021 [20][21] - EBITDA increased by 4.9%, with margin expansion of 101 basis points, resulting in top-line growth of 2% [6][20] - Free cash flow was maintained at $11.3 billion, allowing for increased share buybacks and a 15% increase in dividends compared to the previous year [6][24] Business Line Data and Key Metrics Changes - The Mega Brands and premium portfolio outperformed the overall business, with Beyond Beer revenue increasing by 23% and non-alcohol beer revenue growing by 34% [5][15] - BEES Marketplace GMV increased by 61% to $3.5 billion, indicating strong growth in the digital marketplace segment [5][17] Market Data and Key Metrics Changes - Revenue increased in 65% of the company's markets, with EBITDA growth in four of five operating regions [7][8] - In the U.S., the company gained market share in both beer and spirits, with significant growth from brands like Michelob ULTRA and Busch Light [9][10] - In China, revenue declined by low teens, but market share trends improved in Q4, indicating potential for recovery [11][45] Company Strategy and Development Direction - The company continues to focus on premiumization, innovation, and expanding its digital ecosystem through the BEES Marketplace [12][17] - The strategy emphasizes long-term growth drivers such as balanced choices, premiumization, and the Beyond Beer segment, which is projected to grow at double the rate of the overall beer category [15][16] - The company aims to leverage its diversified geographic footprint to capture future industry growth, particularly in emerging markets [8][12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the 2026 outlook, citing improved momentum exiting 2025 and upcoming major events like the FIFA World Cup as opportunities for growth [26][33] - The company remains committed to its strategic priorities despite challenges in 2025, with a focus on maintaining financial discipline and optimizing resource allocation [20][26] Other Important Information - The company achieved its sustainability goals related to water and agriculture, with ongoing efforts in climate and packaging [24][25] - The company plans to maintain a progressive dividend policy and has proposed a final dividend of 1 EUR per share for 2025 [24] Q&A Session Questions and Answers Question: Insights on the role of beer in consumer culture - Management highlighted that beer brings people together for moments of celebration and emphasized the importance of promoting moderate consumption [30][31] Question: Key elements of the U.S. market turnaround - Management credited consistency and strategic investments in brand segmentation as key to the U.S. market turnaround, with plans to apply these learnings to other markets, particularly China [36][40] Question: Update on commercial execution in China - Management noted significant progress in the off-trade channel and a stabilization in the on-trade channel, with cautious optimism for 2026 [43][45] Question: Thoughts on BEES Marketplace scaling - Management expressed confidence in the growth potential of the BEES Marketplace, particularly in the third-party segment, which is becoming increasingly profitable [73][76]

Financial Data and Key Metrics Changes - In Q4 2025, adjusted EPS was $2.39, reflecting double-digit year-over-year earnings growth despite external pressures [24][25] - For the full year, revenue was $4.2 billion, adjusted operating income was $550 million, and adjusted EBITDA was $743 million, with adjusted EPS of $9.61, indicating another year of double-digit growth [33][34] - Consolidated operating margins expanded by approximately 30 basis points compared to the previous year, with expectations for continued margin improvement into 2026 [33] Business Line Data and Key Metrics Changes - The EFT segment showed strong performance with revenue growing 8%, adjusted operating income increasing 12%, and adjusted EBITDA growing 13% [25] - The epay segment experienced a revenue decline of approximately 2%, with adjusted operating income down 7% and adjusted EBITDA down 8%, attributed to macroeconomic pressures [26] - The money transfer segment saw a revenue decline of 1% year-over-year, with adjusted operating income down 6% and adjusted EBITDA down 5%, primarily due to macroeconomic conditions and immigration-related dynamics [27][28] Market Data and Key Metrics Changes - The global digital channel for money transfer delivered 31% transaction growth and 33% revenue growth in Q4, with a significant increase in new customer acquisitions [21] - The gaming-related branded payments business within epay accounted for 37% of total branded payments margin, benefiting from the growth in the global video game market, which was approximately $290 billion in 2025 [17] - Remittances into Mexico declined approximately 2% in Q4 2025, reflecting broader market trends, but the company managed to achieve a modest increase in remittance volumes for the year [28] Company Strategy and Development Direction - The company remains focused on executing growth initiatives across all segments, particularly in digital strategies and expanding its global network [5][10] - Recent acquisitions, including Kyodi and Credia Bank's merchant acquiring business, are expected to drive multiyear growth [9][12] - The company emphasizes a shift from traditional ATM ownership to a focus on payments infrastructure and merchant acquiring, enhancing its capabilities in modern payment processing [15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging operating environment due to immigration policy uncertainty and economic stress among lower-income consumers, but expressed confidence in the company's competitive position and growth initiatives [5][6] - The company anticipates adjusted EPS growth of 10%-15% in 2026, supported by a strong pipeline of growth initiatives and an optimized operating model [32] - Management highlighted the importance of maintaining a diversified business model to withstand macroeconomic pressures, ensuring resilience and continued growth [7][36] Other Important Information - The company returned approximately $388 million in capital to shareholders through share repurchases in 2025, reflecting a disciplined capital allocation strategy [8][34] - The company is actively pursuing digital growth opportunities across all segments, with a focus on enhancing customer experience and operational efficiency [31] Q&A Session Summary Question: Are there signs of improvement in macro issues affecting the business? - Management noted some positive trends in January but cautioned against over-optimism due to ongoing challenges in the operating environment [40][41] Question: What triggered the review of the money transfer business? - The review was initiated to ensure organizational alignment with the growth of the money transfer segment, which has seen significant success since the acquisition of Ria [45][47] Question: Can you provide details on the growth of the merchant processing business? - The merchant acquiring business has shown strong growth, with epay growing over 20% and EFT's merchant acquiring business growing over 30% [54] Question: What are the expectations for CoreCard in 2026? - Management expressed optimism about CoreCard's contribution, indicating that it is expected to perform well and potentially exceed previous revenue figures [75][78] Question: How does the company view the impact of competitors' partnerships? - Management indicated that the impact from competitors, such as Kroger's exclusive relationship, would be marginal and not significantly affect their business [82]

Darling Ingredients (NYSE:DAR) Q4 2025 Earnings call February 12, 2026 09:00 AM ET Speaker9Good morning, and welcome to the Darling Ingredients Incorporated conference call to discuss the company's fourth quarter and fiscal year 2025 financial results. After the speakers' prepared remarks, there will be a question and answer period, and instructions to ask the question will be given at that time. Today's call is being recorded, and I would now like to turn the call over to Ms. Suann Guthrie, Senior Vice Pre ...

Intercorp Financial Services (NYSE:IFS) Q4 2025 Earnings call February 12, 2026 09:00 AM ET Speaker10Thank you for standing by, and welcome to the IFS fourth quarter of 2025 conference call. The conference will begin in a few minutes. Pardon me. Good morning, and welcome to the Intercorp Financial Services fourth quarter of 2025 conference call. All lines have been placed on mute to prevent any background noise. Please be advised that today's conference call is being recorded. After the presentation, we wil ...

Independence Realty Trust (NYSE:IRT) Q4 2025 Earnings call February 12, 2026 09:00 AM ET Speaker9Hello, and thank you for standing by. My name is Bella, and I will be your conference operator today. At this time, I would like to welcome everyone to Independence Realty Trust Q4 and full year 2025 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. We do request for today's session that you plea ...

Financial Data and Key Metrics Changes - In Q4 2025, IFF generated revenue of nearly $2.6 billion, with a 1% growth compared to a 6% year-ago comparable, and a 4% increase on a two-year average basis [11] - EBITDA totaled $437 million for Q4, a 7% increase, with an EBITDA margin increase of 90 basis points to 16.9% [11] - For the full year 2025, IFF achieved 7% EBITDA growth with 100 basis points of margin expansion [10] Business Segment Performance Changes - Taste segment sales increased 2% to $588 million, with EBITDA up 17% to $94 million [12] - Health and Biosciences segment sales grew 5% to $589 million, with EBITDA increasing 20% to $155 million [13] - Scent segment delivered sales of $610 million, representing 4% growth, with EBITDA increasing 1% to $106 million [14] - Food ingredients sales were down 4% to $802 million, but EBITDA grew by 10% due to margin improvements [12][14] Market Data and Key Metrics Changes - The performance in North America for the Taste segment showed high single-digit growth, driven by new wins [12] - Health and Biosciences saw strong growth in food biosciences and animal nutrition, both achieving double-digit growth [13] - The Scent segment's fine fragrance grew by 10%, while fragrance ingredients faced pressure due to market softness [14] Company Strategy and Development Direction - IFF is focusing on high-value, innovation-driven businesses, having divested from lower-margin segments [6][8] - The company is optimistic about the sale process for its food ingredients business, aiming to enhance shareholder value [17] - Investments in R&D, commercial capabilities, and manufacturing capacity are prioritized to drive profitable growth [5][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving consistent, profitable growth despite macroeconomic uncertainties [9] - For 2026, IFF expects sales in the range of $10.5 billion to $10.8 billion, representing 1%-4% growth [18] - EBITDA for 2026 is projected to be between $2.05 billion and $2.15 billion, indicating 3%-8% growth [19] Other Important Information - Cash flow from operations totaled $850 million for the full year, with CapEx at approximately 5.5% of sales [14] - The company returned $409 million to shareholders through dividends and share repurchases [15] - The net debt to credit-adjusted EBITDA ratio improved to 2.6 times, down from 3.8 times in 2024 [16] Q&A Session Summary Question: Assumptions around price and volume in 2026 - Management indicated that growth for 2026 is expected to be volume-driven, with incremental margins on volumes around 30%-35% depending on the segment [28][29] Question: Top and bottom end of the 1%-4% currency neutral sales outlook - Management expressed cautious optimism, driven by a strong pipeline and customer focus on volume growth, with expectations for all divisions to grow within the range [31][32] Question: Early interest in the sale of food ingredients - Management confirmed strong interest from both strategic and private equity firms, with optimism about the sale process [36][37] Question: Price dynamics in the scent segment - Management noted that pricing was flat year-over-year, with margin pressure primarily from input costs, and a gradual shift towards higher-value ingredients is expected [40][41] Question: Health and biosciences margin uplift - Strong volume growth and productivity improvements contributed to the margin uplift, with expectations for stabilization and growth in the health business [43][44] Question: Free cash flow expectations for 2026 - Management anticipates meaningful improvement in free cash flow driven by profitability growth and working capital management [46][49] Question: R&D efforts and innovation metrics - Management highlighted a $100 million investment in innovation capabilities, with expected benefits starting in the second half of 2026 [53][56] Question: Reformulation opportunities in the marketplace - Management noted ongoing reformulation trends, with opportunities for IFF to support customers in creating healthier products [82][84]

Investor Presentation FOURTH QUARTER 2025 Disclaimers Forward-Looking Statements Forward-Looking Statements in this presentation, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements about Hyatt Hotels Corporation's ("Hyatt," "the Company," "we,", "us,", or "our") plans, strategies, outlook, the number of properties we expect to open in the future, the expected timing and payment of divi ...