Financial Data and Key Metrics Changes - Net earnings for Q1 2026 rose to $7.6 million or $0.39 per share, compared to $1.1 million or $0.06 per share in the same period last year [4] - Gross profit improved to $18.1 million from $9.5 million a year ago, with gross margin expanding to 11.3% from 7.3% [6] - SG&A expenses increased to $8.8 million, or 5.5% of net sales, compared to $7.9 million, or 6.1% of net sales, in the prior year [6][7] - Effective tax rate decreased to 21% from 26.1% in the prior year [7] Business Line Data and Key Metrics Changes - First quarter shipments increased by 3.8% year over year, reflecting improved demand across commercial and infrastructure markets [4][5] - Average selling prices increased by 18.8% year over year due to pricing actions taken to offset higher steel wire rod costs [5] Market Data and Key Metrics Changes - The Architectural Billings Index (ABI) registered 45.3, indicating a contraction in nonresidential commercial construction activity for 13 consecutive months [10] - The Dodge Momentum Index rose 7% in December, with a year-over-year increase of 50%, indicating strengthening activity in commercial planning [11] Company Strategy and Development Direction - The company is optimistic about 2026, driven by demand from the Infrastructure Investment and Jobs Act (IIJA) and data center construction [3][15] - The company plans to invest approximately $20 million in capital expenditures to support growth and reduce production costs [20] Management's Comments on Operating Environment and Future Outlook - Management acknowledges uncertainties due to trade policies and economic conditions but remains confident in the demand trends observed [3][12] - The company expects inventory levels to moderate as purchasing activity normalizes and shipment volumes increase [9][19] Other Important Information - The company returned $19.4 million to shareholders through a special cash dividend and continued share buybacks [10] - Cash flow from operations used $700,000 in the quarter, compared to providing $19 million last year, primarily due to increased inventories [8] Q&A Session Summary Question: Can you provide more details on commitments related to data center projects? - Management noted that the data center business is new to the company, but they are seeing repeat opportunities and robust demand [22][23] Question: How have wire rod constraints affected volumes? - Management explained that inventory growth was due to insufficient domestic wire rod supply, leading to offshore purchases [24][25] Question: Are you realizing SG&A leverage from recent acquisitions? - Management confirmed that they have realized expected synergies from acquisitions, contributing to improved performance [28] Question: What has allowed the company to grow despite industry headwinds? - Management attributed growth to internal factors such as work in the cast-in-place market and successful acquisitions [34][35] Question: What is the outlook for the residential market? - Management indicated that any meaningful impact from the residential market is unlikely for 2026 [40][41] Question: How are labor costs being managed? - Management acknowledged upward pressure on labor costs and inflationary impacts on operations [42][43]

Patria Investments (NasdaqGS:PAX) Update / briefing January 15, 2026 10:00 AM ET Company ParticipantsAndre Medina - Head of Shareholder RelationsLuis Fernando Lopes - Chief EconomistThiago Pasqua - CSOAndre MedinaHello, everyone. I'm Andre Medina. I lead Patria Shareholder Relations, and welcome to the fourth edition of our PAX Talks on Macroeconomics: Investing Amidst Ugly Geopolitics. This will be a fireside chat Q&A format, so you're welcome to submit your questions. If we're not able to, if we don't hav ...

Financial Data and Key Metrics Changes - The company reported strong loan growth, solid organic deposit growth, and significant loan fee income, indicating robust performance in 2025 [3][4] - The provision for loan losses was not increased significantly despite the growth, reflecting improved asset quality [4] Business Line Data and Key Metrics Changes - The company experienced accelerated loan growth primarily in Oklahoma and Texas, with a focus on capturing market share in these regions [8][9] - Deposit growth outpaced loan growth, showcasing the effectiveness of the company's strategies [9] Market Data and Key Metrics Changes - The current cost of funds decreased to 2.40%, driven by balance sheet growth and new deposits [20] - The company noted that deposit competition has intensified, with depositors becoming more aware of interest rates [21][22] Company Strategy and Development Direction - The company aims to maintain discipline in pricing and underwriting while pursuing growth opportunities in dynamic markets [10][29] - There is a focus on accumulating capital for potential mergers and acquisitions, while remaining cautious about share buybacks [24][31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to perform at a high level despite market fluctuations [4] - The company anticipates challenges in maintaining net interest margins due to potential rate cuts and competitive pressures [12][15] Other Important Information - The company highlighted that oil and gas revenues are expected to have a minimal impact on overall financial performance moving forward [36][37] - Management emphasized the importance of controlling expenses and maintaining operational efficiency [35] Q&A Session Summary Question: Loan growth expectations and payoff activity - Management noted that while loan growth was strong, payoff activity was lighter than expected, with a forecast of $25 million in monthly payoffs [6][9] Question: Net interest margin trends - Management indicated slight compression in net interest margin but remains optimistic about maintaining it within historical ranges [11][12] Question: Deposit costs and competition - Management discussed the current cost of funds and the competitive landscape for deposits, noting that recent rate cuts did not significantly affect deposit betas [20][21] Question: Capital management and stock performance - Management stated that while capital is accumulating, they are focused on producing strong results rather than engaging in share buybacks [24][31] Question: M&A opportunities and market conditions - Management acknowledged challenges in acquiring quality deposit franchises due to high valuations but remains disciplined in their approach [28][29]

Financial Data and Key Metrics Changes - The meeting discussed the approval of the Continuance Resolution and Domestication Resolution, which were passed by a majority of not less than two-thirds of the votes cast [20] - The 2026 Incentive Award Plan was also approved by a majority of the votes cast [20] Business Line Data and Key Metrics Changes - No specific business line data or key metrics were provided during the meeting Market Data and Key Metrics Changes - No specific market data or key metrics were discussed during the meeting Company Strategy and Development Direction - The company is transitioning from Alberta to British Columbia and then domesticated to Nevada, indicating a strategic move to align with favorable business regulations [9][12] Management Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook during this meeting Other Important Information - The meeting was conducted virtually, ensuring shareholder rights were protected and participation was similar to past in-person meetings [3][4] - The voting process was outlined, allowing registered shareholders to vote on resolutions [5][6] Q&A Session Summary - No specific questions were raised during the meeting regarding the motions presented [12][15][18][23]

First Horizon (NYSE:FHN) Q4 2025 Earnings call January 15, 2026 09:30 AM ET Company ParticipantsHope Dmuchowski - CFOThomas Hung - CCOBryan Jordan - CEOTyler Craft - Head of Investor RelationsConference Call ParticipantsPeter Winter - AnalystAndrew Leischner - AnalystTimur Braziler - AnalystChristopher Marinac - AnalystMichael Rose - AnalystAnthony Elian - AnalystBernard Gizycki - AnalystJanet Lee - AnalystRyan Nash - AnalystCasey Haire - AnalystDavid Chiaverini - AnalystJon Arfstrom - AnalystJohn Pancari - ...

Summary of ADTRAN Conference Call Company Overview - **Company**: ADTRAN - **Industry**: Communications and Networking - **Key Executives**: Tom Stanton (Chairperson and CEO), Tim Santo (CFO) Key Points Financial Performance - **Optical Networking Solutions**: Increased by 24% year-over-year in Q3 2025, indicating strong sales execution and recovery from supply chain issues [4][5] - **Profitability Metrics**: Operating margin improved to approximately 5%, attributed to cost discipline and leveraging scale [6] - **Gross Margin Expectations**: Projected to remain in the range of 42%-43%, with a positive trend anticipated across product lines [40] Market Opportunities - **European Market**: Significant opportunity in the Huawei replacement market, estimated at around $800 million annually, primarily in Europe [8][20] - **Access Business**: Expected strength in the first half of 2026 as European carriers begin to come online [7] - **BEAD Program**: Anticipated early revenue in the second half of 2026, with a material increase expected in 2027 [10][17] Customer and Inventory Insights - **Customer Inventory**: No significant inventory issues reported; customers are purchasing as needed [28][32] - **AI Integration**: Launch of Clarity, an AI tool for network maintenance and troubleshooting, showing positive beta testing results [33][57] Competitive Landscape - **Market Position**: ADTRAN feels confident in its competitive position, particularly in Europe where fewer competitors exist [48][49] - **Impact of Mergers**: The merger between Nokia and Infinera has created opportunities for ADTRAN as customers seek alternatives [51] Regulatory and Legislative Environment - **EU Legislation**: Discussions around funding for replacing old infrastructure are ongoing, which could benefit ADTRAN in the long term [24][25] Strategic Focus - **Sales and Growth**: Plans to optimize operating costs while increasing sales resources to drive growth [62] - **M&A Activity**: Limited opportunities for consolidation in the optical space, but potential remains for smaller players [60][61] Investor Sentiment - **Market Perception**: There is a belief that the market may be undervaluing ADTRAN's performance and potential, with consistent execution expected to eventually reflect in stock performance [63][64] Additional Insights - **Supply Chain Management**: Successfully navigating supply chain pressures, with confidence in maintaining guidance despite some cost pressures [42] - **Long-term Vision**: Focus on upgrading existing infrastructure to meet the demands of hyperscalers and larger carriers [34][36] This summary encapsulates the key insights and strategic directions discussed during the ADTRAN conference call, highlighting the company's performance, market opportunities, and future outlook.

First Horizon (NYSE:FHN) Q4 2025 Earnings call January 15, 2026 09:30 AM ET Company ParticipantsHope Dmuchowski - CFOThomas Hung - CCOBryan Jordan - CEOTyler Craft - Head of Investor RelationsConference Call ParticipantsPeter Winter - AnalystAndrew Leischner - AnalystTimur Braziler - AnalystChristopher Marinac - AnalystMichael Rose - AnalystAnthony Elian - AnalystBernard Gizycki - AnalystJanet Lee - AnalystRyan Nash - AnalystCasey Haire - AnalystDavid Chiaverini - AnalystJon Arfstrom - AnalystJohn Pancari - ...

The Goldman Sachs Group (NYSE:GS) Q4 2025 Earnings call January 15, 2026 09:30 AM ET Company ParticipantsEbrahim Poonawala - Head of North American Banks ResearchBetsy Graseck - Global Head of BanksMatthew O'Connor - Managing DirectorDavid Solomon - Chairman and CEOSteven Chubak - Managing DirectorDenis Coleman - CFOChristopher McGratty - Head of U.S. Bank ResearchConference Call ParticipantsDan Fannon - Research AnalystErika Najarian - Equity Research AnalystGerard Cassidy - Head of U.S. Bank Equity Strate ...

The Goldman Sachs Group (NYSE:GS) Q4 2025 Earnings call January 15, 2026 09:30 AM ET Company ParticipantsEbrahim Poonawala - Head of North American Banks ResearchBetsy Graseck - Global Head of BanksMatthew O'Connor - Managing DirectorDavid Solomon - Chairman and CEOSteven Chubak - Managing DirectorDenis Coleman - CFOSaul Martinez - Head of U.S. Financials ResearchChristopher McGratty - Head of U.S. Bank ResearchConference Call ParticipantsDan Fannon - Research AnalystErika Najarian - Equity Research Analyst ...

Company Vision and Mission - Claritev aims to make healthcare transparent and affordable for all[14, 25] - The company has identified potential savings of $247 billion for 60 million health plan members[18] - Claritev processed $1776 billion in claim charges[18] Market Challenges and Opportunities - The healthcare industry faces escalating costs, with medical inflation at 85% and employer costs increasing by 8-10%[23] - There is $1 trillion in healthcare waste[23] - Claritev's expansion initiatives can potentially double its addressable market, with a long-term international opportunity exceeding $1 billion[36, 35] Financial Performance - PSAV claim volume decreased by approximately 13% year-over-year from Q3'24 to Q3'25[51] - However, potential savings identified per claim increased by 10% year-over-year, and revenue per claim increased by 19% year-over-year[51] - PSAV revenue increased by $6 million sequentially from Q2'25 to Q3'25[51] Debt Structure - As of September 30, 2025, Claritev's total long-term debt was $4670 billion, with net debt at $4631 billion[61] - The total leverage ratio, net of cash, was 78x[61]