Waldencast (NasdaqCM:WALD) FY 2026 Annual General Meeting January 14, 2026 12:00 PM ET Speaker0Welcome to the annual meeting for Waldencast plc. Our host for today's call is Cristiano Sosa, director of the company. I will now turn the call over to your host, Mr. Sosa. You may begin, sir.Speaker1Thank you, Paul. Welcome, everybody. The time is now 5:00 P.M. I'd like to welcome you to the annual general meeting of Waldencast PLC, for those attending in person, as well as those shareholders who are listening e ...

Financial Data and Key Metrics Changes - The company reported an adjusted EPS of $1.81 and an adjusted ROTCE of 7.7% for Q4 2025, with full-year adjusted net income surpassing $16 billion, reflecting an 180 basis points improvement to 8.8% ROTCE [4][20] - Total revenues increased by 2%, with adjusted revenues up 8%, driven by growth in banking, services, US Personal Banking (USPB), and Wealth [19][20] - Expenses rose by 6% to $13.8 billion, influenced by higher compensation, tax charges, and technology expenses [19][22] Business Line Data and Key Metrics Changes - Services revenues increased by 15%, with net income of $2.2 billion and an ROTCE of 36.1% for Q4 [27][28] - Markets revenues were down 1%, with fixed income and equities both experiencing slight declines, but overall, the Markets business saw an 11% revenue increase for the full year [30][31] - Banking revenues surged by 78%, driven by corporate lending and investment banking, with M&A fees up 84% [31][32] - Wealth management revenues grew by 7%, with net new investment asset flows of $7.2 billion in Q4 [32][34] Market Data and Key Metrics Changes - The company reported a 24% increase in assets under custody and administration, reflecting strong client engagement and onboarding of new clients [5][28] - Cross-border transaction value increased by 14%, indicating robust activity in the services sector [28] - The corporate exposure remains primarily investment-grade, with low corporate non-accrual loans and net credit losses [25] Company Strategy and Development Direction - The company is focused on a multi-year transformation journey, emphasizing operational efficiency, technology investments, and enhancing client experience through AI [4][12] - The strategy includes maintaining a disciplined approach to expenses while investing in growth areas, aiming for a ROTCE target of 10%-11% [15][39] - The company is actively working to close the gap with best-in-class peers in investment banking and capital markets through talent acquisition and product innovation [76] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the global economic outlook, citing strong capital investment and a healthy consumer environment as drivers for growth [12][14] - The company is well-positioned to navigate challenges, with a focus on leveraging its balance sheet and expertise across nearly 100 countries [14] - Management highlighted the importance of continued investment in the franchise to sustain growth and improve returns [39][76] Other Important Information - The company repurchased over $13 billion in common shares during the year, with a CET1 ratio of 13.2%, significantly above regulatory requirements [10][26] - The company is nearing the end of its international divestitures, with significant progress in its transformation efforts [11][39] Q&A Session Summary Question: Insights on Markets performance and ROTCE - The fourth quarter had tough year-over-year comparisons, but the full year saw strong performance in Markets, particularly in spread products and equities [50][52] Question: Efficiency ratio target clarification - The efficiency ratio target was adjusted to around 60% to allow for continued investments in the business while maintaining expense discipline [54][55] Question: Transformation progress and remaining work - Over 80% of transformation efforts are at or near target state, with remaining work focused on compliance, risk, controls, and data [58][60] Question: Addressing the gap with peers in investment banking - The company is investing in technology and talent to close the gap with best-in-class peers, particularly in investment banking and capital markets [72][76] Question: NII outlook and drivers - The NII outlook for 2026 is expected to grow by 5%-6%, driven by loan and deposit volume growth [89][90]

Financial Data and Key Metrics Changes - The company reported an adjusted EPS of $1.81 and an adjusted ROTCE of 7.7% for Q4 2025, with full-year adjusted net income surpassing $16 billion, reflecting an 180 basis points improvement to 8.8% ROTCE [3][19] - Total revenues for the quarter were up 2%, with adjusted revenues increasing by 8% when excluding the notable item related to Russia [18][19] - Expenses increased by 6% to $13.8 billion, driven by higher compensation, tax charges, and technology expenses [18][22] Business Line Data and Key Metrics Changes - Services revenues increased by 15% in Q4, with net income of $2.2 billion and an ROTCE of 36.1% [26] - Markets revenues were down 1%, with fixed income and equities both experiencing slight declines, but overall, markets delivered a net income of $783 million [29] - Banking revenues surged by 78%, driven by corporate lending and investment banking, with M&A fees up 84% [30][31] - Wealth management revenues grew by 7%, with net income of $338 million and an ROTCE of 10.9% [33] Market Data and Key Metrics Changes - Cross-border transaction value increased by 14%, and assets under custody and administration grew by 24% [26] - The corporate lending wallet was noted to be over $100 billion, with expectations for continued share gains [76] Company Strategy and Development Direction - The company is focused on a multi-year transformation strategy, with over 80% of its programs nearing target states [10][56] - Investments in technology and innovation are prioritized to enhance operational efficiency and client experience [11][72] - The company aims to achieve a ROTCE target of 10%-11% and maintain positive operating leverage [14][38] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the global economic outlook, citing strong capital investment and a healthy consumer environment [12] - The company is well-positioned to support corporate clients, with a focus on maintaining high credit quality [12][24] - Management highlighted the importance of continued investment in the franchise to drive long-term growth [72] Other Important Information - The company repurchased over $13 billion in common shares during the year, with a CET1 ratio of 13.2%, significantly above regulatory requirements [9][25] - The company is nearing the end of its international divestitures, including the sale of its consumer business in Poland and operations in Russia [10] Q&A Session Summary Question: Markets performance and ROTCE - Inquiry about the flat revenues in markets and the relationship between allocated capital and ROTCE [48] - Response highlighted strong full-year performance in markets, with a focus on optimizing RWA and deploying it in high-return areas [50][51] Question: Efficiency ratio target - Clarification sought on the change in efficiency ratio target from below 60% to around 60% [52] - Response indicated that the adjustment allows for continued investment in the business while maintaining expense discipline [52] Question: Transformation progress - Inquiry about the remaining work in transformation and its relation to safety and soundness [55] - Management confirmed significant progress, with a focus on compliance, risk, controls, and data modernization [56][58] Question: Competitive positioning and investment banking - Question regarding the gap between Citi and best-in-class peers in investment banking [69] - Management acknowledged past investments and ongoing efforts to enhance capabilities and competitive positioning [70][72] Question: NII outlook - Inquiry about the improved NII outlook for 2026 [87] - Response indicated that higher loan and deposit volumes contributed to the positive outlook, with expectations for continued growth [88]

Financial Data and Key Metrics Changes - The company reported an adjusted EPS of $1.81 and an adjusted ROTCE of 7.7% for Q4 2025, with full-year adjusted net income surpassing $16 billion, reflecting an 180 basis points improvement to 8.8% ROTCE after adjustments for Banamex and Russia [3][18] - Total revenues increased by 2%, with adjusted revenues up 8%, driven by growth in banking, services, USPB, and wealth [17][18] - Expenses rose by 6% to $13.8 billion, influenced by higher compensation, tax charges, and technology expenses [17][20] Business Line Data and Key Metrics Changes - Services revenues increased by 15%, with net income of $2.2 billion and an ROTCE of 36.1% for Q4 [25] - Markets revenues were down 1%, with fixed income and equities both experiencing slight declines, but average loans increased by 25% [27] - Banking revenues surged by 78%, with M&A fees up 84%, marking a record year for investment banking [28][29] - Wealth management revenues grew by 7%, with net new investment asset flows of $7.2 billion in Q4 [30][31] Market Data and Key Metrics Changes - Cross-border transaction value increased by 14%, and assets under custody and administration grew by 24% [25] - The company maintained a diversified deposit base of $1.4 trillion, with a 1% increase driven by growth in services [24] Company Strategy and Development Direction - The company is focused on a multi-year transformation strategy, with over 80% of its programs nearing target state [10][12] - Investments in technology and operational efficiency are prioritized to enhance client experience and reduce expenses [11][39] - The company aims to achieve a ROTCE target of 10%-11% and maintain positive operating leverage [13][36] Management's Comments on Operating Environment and Future Outlook - The global economy is showing signs of optimism, with inflation normalizing and capital investment remaining strong, particularly in technology [11][12] - The company is well-positioned to support corporate clients, who are predominantly investment-grade in credit quality [12] - Management expressed confidence in the ongoing transformation and the ability to deliver higher returns in the future [39] Other Important Information - The company repurchased over $13 billion in common shares during the year, with a total capital return of over $17.5 billion [9][24] - The company is nearing the end of its international divestitures, including the sale of its consumer business in Poland and operations in Russia [9][10] Q&A Session Summary Question: Insights on market performance and ROTCE - Management noted strong top-line revenue growth for markets, with a focus on optimizing RWA and deploying it in high-return areas [41][42][43] Question: Clarification on efficiency ratio targets - Management confirmed the shift in efficiency ratio targets to around 60%, emphasizing the need for continued investment in the business [45] Question: Update on transformation progress - Management highlighted that over 80% of transformation efforts are nearing completion, with a focus on compliance, risk, controls, and data modernization [46][48] Question: Addressing competitive gaps in investment banking - Management acknowledged past gaps but emphasized ongoing investments in technology and talent to enhance competitive positioning [52][54] Question: Outlook for net interest income (NII) - Management expects NII growth of 5%-6% in 2026, driven by loan and deposit volume growth [60][61]

Wells Fargo (NYSE:WFC) Q4 2025 Earnings call January 14, 2026 10:00 AM ET Company ParticipantsKen Usdin - Managing DirectorGerard Cassidy - Managing DirectorJohn Pancar - Senior managing director and senior research analystJohn Campbell - Head of Investor RelationsErika Najarian - senior equity research analyst and managing directorMike Santomassimo - CFOChristopher McGratty - Bank Research and Managing DirectorCharlie Scharf - CEOBetsy Graseck - Diversified Finance ResearchScott Siefers - managing director ...

Wells Fargo (NYSE:WFC) Q4 2025 Earnings call January 14, 2026 10:00 AM ET Company ParticipantsKen Usdin - Managing DirectorGerard Cassidy - Managing DirectorJohn Pancar - Senior managing director and senior research analystJohn Campbell - Head of Investor RelationsErika Najarian - senior equity research analyst and managing directorMike Santomassimo - CFOChristopher McGratty - Bank Research and Managing DirectorCharlie Scharf - CEOBetsy Graseck - Diversified Finance ResearchScott Siefers - managing director ...

Wells Fargo (NYSE:WFC) Q4 2025 Earnings call January 14, 2026 10:00 AM ET Speaker1Fargo's 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. If you would like to ask a question during this time, simply press star one. If you would like to withdraw your question, press star two. Please note that today's call is being recorded. I would now like to turn the call over to John Campbell, Director of Investo ...

Financial Data and Key Metrics Changes - The company reported an 11% year-over-year revenue growth in Q4 2025, with operating earnings per share increasing by 13% to $0.71 [4] - For the full year, operating earnings per share grew by 18%, from $2.30 to $2.71, and revenue topped $1 billion with a 12% year-over-year growth [4][5] - Return on assets improved to 1.22%, and return on tangible common equity reached 13.3% for the year [4] Business Line Data and Key Metrics Changes - Retail and small business lending efforts surpassed $1 billion in annual production for the first time, alongside Novitas equipment finance team achieving the same milestone [5] - The loan portfolio grew at an annualized pace of 4.4%, primarily driven by C&I and HELOC categories [10] - Non-interest income was reported at $40.5 million, down from the previous quarter, with growth in wealth management and treasury management offset by a seasonal decline in mortgage [12] Market Data and Key Metrics Changes - The company experienced a positive seasonality in public funds, with an increase of $293 million in deposits [9] - The cost of deposits improved by 21 basis points to 1.76%, while cumulative total deposit beta increased from 37% to 40% [9] - The loan-to-deposit ratio increased to 82%, reflecting a trend towards higher loan growth relative to deposits [10] Company Strategy and Development Direction - The company is focused on improving the durability of earnings through reduced securities duration and investments in talent and systems for interest rate risk management [7] - Expansion efforts included the successful conversion of American National Bank and Fort Lauderdale to the company's systems, along with new office openings in North Carolina and Florida [8] - The company plans to be more assertive in share buybacks, given strong capital build and credit quality [24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for continued growth in 2026, citing a strong economy in their markets [15] - The competitive landscape remains robust, with a focus on client service and employee culture to attract talent [36] - Management does not foresee significant impacts from tariffs on credit quality, indicating stability in asset quality [68] Other Important Information - The company was recognized for retail client satisfaction and as one of the top banks to work for, highlighting its commitment to culture and community engagement [6] - The efficiency ratio improved by 264 basis points, with expectations for further improvements in 2026 [11][70] Q&A Session Summary Question: Balance sheet growth expectations for 2026 - Management expects balance sheet growth to depend on deposit growth, modeling it a couple hundred basis points below loan growth [19] Question: Anticipated loan growth and asset class focus - Management highlighted C&I and HELOC as focus areas, with Florida leading production due to recent acquisitions [20] Question: Future share repurchase strategy - Management intends to be more assertive with buybacks in 2026, given strong capital and credit quality [24] Question: Outlook on efficiency ratio and expense growth - Management is budgeting for operating leverage improvement in 2026, targeting a 3% to 3.5% growth rate in expenses [39] Question: Competitive landscape and hiring opportunities - Management noted increased competition but emphasized a focus on culture and client service to attract talent [36] Question: M&A opportunities and strategy - Management is focused on organic growth and sees limited M&A opportunities, preferring quality targets [41][77]

United Community Banks (NYSE:UCB) Q4 2025 Earnings call January 14, 2026 09:00 AM ET Company ParticipantsCatherine Mealor - Managing DirectorStephen Scouten - Managing DirectorDavid Bishop - Director in Research DepartmentMichael Rose - Managing Director of Equity ResearchRob Edwards - EVP and CROJefferson Harralson - CFORich Bradshaw - President and CBOLynn Harton - Chairman and CEOChristopher Marinac - Director of ResearchConference Call ParticipantsRussell Gunther - Managing Director and Senior Research ...

Financial Data and Key Metrics Changes - Total revenue for Q3 2026 was $7.5 million, down from $7.9 million in the prior year, reflecting the company's exit from low-margin revenue streams [20] - Total product and retail gross profit increased to $1.4 million, compared to $0.7 million in the same quarter last year, driven by pricing actions and improved product mix [20] - Net loss for the quarter was $0.2 million, or negative $0.02 per share, compared to a net loss of $0.8 million, or negative $0.11 per share in the prior year [21] - EBITDA improved to $0.4 million in Q3 2026 from negative $0.4 million in the same quarter last year [21] Business Line Data and Key Metrics Changes - The company continued to exit lower-margin specialty and wholesale revenue streams, leading to a modest year-over-year decline in total revenue but significant improvement in gross profit margin, which reached 21.4% compared to 10% in the prior year [5][20] - The company implemented targeted price adjustments across its four core franchise categories, contributing to margin expansion [6][7] Market Data and Key Metrics Changes - The company is experiencing momentum in franchise development, with two new stores under construction and 34 stores under area development agreements, indicating strong interest from financially sophisticated operators [4][9] - The company is rationalizing its current store base by closing underperforming locations, which negatively impact brand image [9] Company Strategy and Development Direction - The company is focused on a margin-first transformation strategy, prioritizing profitability and long-term value creation over lower-quality revenue [3] - The strategy includes improving product mix, simplifying the SKU portfolio, and enhancing operational and technology capabilities to support long-term growth [3][4] - Franchise development is a key strategic revenue pillar, with a disciplined approach to expanding into existing and new markets while improving average unit performance [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for margin expansion due to lower cocoa prices and effective purchasing strategies [8][28] - The company aims to return to profitability through disciplined execution and support for franchisees, while also investing in technology initiatives to enhance customer experience and operational efficiency [18][16] Other Important Information - The company completed a $2.7 million equity capital raise, allowing it to pay down $1.2 million of debt and retain $1.5 million in additional working capital [16] - The company is advancing its digital initiatives, including a new POS system and a loyalty program expected to roll out in the first half of the year [15][18] Q&A Session Summary Question: Can you talk about the 34 new stores and the pace of deployment? - The 34 area development agreements are across four franchisees, with a measured rollout expected to accelerate in later years [24] Question: How have you lined up the financing for these stores? - Existing owners have liquidity and are well-capitalized, minimizing the need for significant debt [25] Question: What is the expected impact of cocoa prices on margins? - Cocoa prices have come down, and the company has locked in favorable pricing for a portion of its expected production, which is expected to provide a margin tailwind [28] Question: Where are you in the journey of recapping the balance sheet? - The next steps include reducing debt and investing in the company, primarily from free cash flow [30] Question: When do you expect the accelerated franchise effort to begin affecting the top line? - New stores take roughly three years to mature, with a lag from lease signing to full productivity [35] Question: What are the biggest obstacles to growing the business? - Execution is the primary challenge, with a focus on profitable growth through the franchise system [39]