Grand Canyon Education (NasdaqGS:LOPE) Q4 2025 Earnings call February 18, 2026 04:30 PM ET Company ParticipantsAlex Paris - PresidentBrian Mueller - President and CEODan Bachus - CFOJeff Silber - Managing DirectorSarah Collins - General CounselOperatorGood day, and thank you for standing by. Welcome to the fourth quarter 2025 Grand Canyon Education earnings conference call. At this time, all participants are on listen only mode. After the speaker's presentation, we'll open up for questions. To ask a questio ...

Booking Holdings (NasdaqGS:BKNG) Q4 2025 Earnings call February 18, 2026 04:30 PM ET Company ParticipantsAlex Brignall - Global Co-Head of ResearchEric Sheridan - Managing DirectorEwout Steenbergen - EVP and CFOGlenn Fogel - CEO and PresidentLee Horowitz - Co-Head of Internet Equity ResearchMark Mahaney - Senior Managing DirectorConference Call ParticipantsLloyd Walmsley - Managing Director and Internet Equity Research AnalystTrevor Young - Director and Senior Internet Equity Research AnalystOperatorLadies ...

Financial Data and Key Metrics Changes - Adjusted operating income (EBIT) for Q4 was $876 million, with adjusted EBITDA at $929 million, reflecting a 16.8% margin, an increase of 10 basis points year-over-year [16] - Non-GAAP adjusted net income per diluted share was $2.59, based on weighted average shares outstanding of 233.8 million, up from last year due to shares issued for the IPG acquisition [17] - Free cash flow improved significantly, with a positive change in operating capital of approximately $700 million, a $900 million improvement from 2024 [22][23] Business Line Data and Key Metrics Changes - The media business performed well in Q4, contributing significantly to year-on-year growth, while the PR business experienced negative growth due to challenging prior year comparisons [18][19] - Approximately 40% of revenue to be disposed of relates to execution and support disciplines, with 25% from the advertising group [20] - The retained portfolio generated revenue of $23.1 billion for the 12 months ended September 30, 2025 [7] Market Data and Key Metrics Changes - Strong growth was observed in the U.S. market, particularly in media, as well as in European markets and the Middle East [20] - The Latin America market showed strength, while businesses in France, the Netherlands, and China struggled in Q4 [20] Company Strategy and Development Direction - The company is focused on delivering integrated services that connect media, creative content, commerce, consulting, data, and technology [5] - A $5 billion share repurchase program was authorized, with a $2.5 billion accelerated share repurchase program launched [8] - The company plans to simplify and realign its portfolio, identifying non-strategic operations with approximately $2.5 billion in annual revenue for sale or exit [6] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the integration of the IPG acquisition and the momentum it has created for sustained growth [4] - The company expects to achieve $1.5 billion in annual run rate synergies over the next 30 months, doubling initial estimates [7] - Management noted that brands are increasingly seeking enterprise-level partners to optimize marketing investments across platforms [10] Other Important Information - The company recorded severance and repositioning costs of $1.1 billion related to the IPG acquisition [14] - The tax rate on non-GAAP adjusted Q4 pre-tax income was 25.8%, flat with the prior year [17] - The company plans to provide additional details on expectations for revenue growth and EBITDA growth for 2026 at the Investor Day on March 12 [31] Q&A Session Summary Question: Expectations for organic growth in retained business - Management indicated that media could represent mid-50% of revenue going forward, with advertising slightly less than 20% [36] Question: Clarification on organic growth calculation - The 4% organic growth figure excludes planned dispositions and reflects growth from businesses intended for investment [48] Question: Reception of combined company offering - Enthusiasm was noted among clients and employees regarding the combined capabilities of the new organization [44] Question: Feedback on the Omni platform - Clients have expressed excitement about the capabilities of the new Omni platform, which integrates various legacy systems [81] Question: Margin trajectory and cost synergies - A substantial portion of the $1.5 billion in cost synergies is expected to flow through to the bottom line, with some reinvestment into growth initiatives [82]

Supplemental Financial Tables Q4 2025 February 2026 ©2026 Carvana, LLC Supplemental Financial Tables ©2023 Carvana, LLC Confidential Document © 2026 Carvana, LLC 2 Quarterly Units | | Q12023 Q22023 Q32023 Q42023 Q12024 Q22024 Q32024 Q42024 Q12025 Q22025 Q32025 Q42025 | | --- | --- | | Retail units sold | 79,240 76,530 80,987 76,090 91,878 101,440 108,651 114,379 133,898 143,280 155,941 163,522 | | Wholesale vehicle units sold | 35,110 46,453 40,886 34,096 44,155 50,368 56,487 48,770 63,454 72,770 80,369 81, ...

Booking Holdings (NasdaqGS:BKNG) Q4 2025 Earnings call February 18, 2026 04:30 PM ET Speaker7Ladies and gentlemen, welcome to Booking Holdings' fourth quarter and full year 2025 conference call. Booking Holdings would like to remind everyone that this call may contain forward-looking statements, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not guaranteed of future performance and are subject to certain ris ...

Edison International (NYSE:EIX) Q4 2025 Earnings call February 18, 2026 04:30 PM ET Speaker4Good afternoon, and welcome to the Edison International Fourth Quarter 2025 financial teleconference. My name is Michelle, and I will be your operator today. When we get to the question and answer session, if you have a question, press star one on your phone. Today's call is being recorded. I would now like to turn the call over to Mr. Sam Ramraj, Vice President of Investor Relations. Mr. Ramraj, you may begin your c ...

Grand Canyon Education (NasdaqGS:LOPE) Q4 2025 Earnings call February 18, 2026 04:30 PM ET Speaker4Good day, and thank you for standing by. Welcome to the fourth quarter 2025 Grand Canyon Education earnings conference call. At this time, all participants are on listen only mode. After the speaker's presentation, we'll open up for questions. To ask a question during the session, you will need to press star one one on your telephone. You will then hear an automated message advising your hand is raised. To wit ...

Q4 2025 Earnings Presentation February 18, 2026 Xandra Velzeboer Netherlands Short Track Speed Skating Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including any projections of earnings, re ...

Summary of Cummins (NYSE:CMI) 2026 Conference Call Company Overview - **Company**: Cummins Inc. (NYSE:CMI) - **Date of Conference**: February 18, 2026 - **Key Participants**: Kyle Menges (Citi), Jeff Wiltrout (Corporate Strategy), Nick Arens (Investor Relations) Key Points Industry and Market Position - Cummins is focusing on a **fuel-agnostic engine platform** to align with the **Destination Zero strategy** and prepare for **EPA 2027 regulations** [1][2] - The company has invested heavily in **next-generation engine technology**, launching three new engine platforms simultaneously, which is unprecedented for Cummins [2][3] Electric Vehicle (EV) Strategy - Cummins acknowledges the **growing trend towards zero-emissions technologies**, including battery electric and E-axles, and has made investments in these areas over the last decade [5][6] - The company views **Tesla** as a significant competitor in the heavy-duty truck market but believes that the economic viability of battery electric trucks will depend on regulatory drivers [6][7] - In **China**, there has been a significant push for battery electric trucks, with over **20% adoption** in the heavy-duty truck market, although Cummins is less exposed to this segment [9][10] EPA 2027 Regulations - The **35 milligram NOx standard** is expected to be implemented, with a potential removal of extended warranty requirements to reduce upfront costs for fleets [15][16] - Cummins is confident in its architecture and technology to meet these regulations, although the timeline for launching three platforms is challenging due to supplier and regulatory coordination [16][19] Financial Outlook and Pricing - The average selling price of trucks is expected to increase by about **$10,000**, primarily driven by the powertrain segment [24][25] - The company anticipates that the new engine platforms will provide margin opportunities over the next few years as production stabilizes [26] Research and Development (R&D) - R&D spending has increased by approximately **$150 million annually** for platform investments, with expectations for a tapering off post-launch in 2027 [27][29] Power Generation and Data Centers - Cummins has seen significant growth in the **power generation** and **data center** markets, driven by increased demand for redundant power solutions [31][32] - The company has doubled its capacity to serve this market and is evaluating further investments for growth [34][36] - The order backlog extends through **2027**, with discussions about orders into **2028** [41][42] Competitive Landscape - Cummins maintains a strong competitive position in the data center backup power market due to its established relationships, reputation, and distribution capabilities [62][63] - The company is aware of increasing competition but believes its unique offerings are difficult to replicate [64] Tariff Impacts - Tariffs are impacting margins, particularly in the engine and distribution segments, with an estimated **50 basis points of dilution** in guidance due to tariff surcharges [73][74] - The company is exploring potential rebates related to tariffs, which could improve margins if successful [76][78] Future Guidance and Investor Day - Cummins plans to update its **2030 financial targets** at the upcoming Investor Day, focusing on engine components, power generation, margin profiles, and capital allocation strategies [99][100][101] Additional Insights - The company is actively engaging with customers to secure favorable payment terms and long-term contracts to support investments in capacity [96][98] - There is a strong demand for backup power solutions, with no visible signs of a slowdown in demand expected through the decade [48][50]

Hormel Foods (NYSE:HRL) 2026 Conference February 18, 2026 04:00 PM ET Company ParticipantsJeffrey M. Ettinger - Interim CEOJohn F. Ghingo - PresidentNone - Video NarratorJohn F. GhingoTenure as CEO from 2006 to 2016 included many CAGNY presentations. He just can't get enough. Please join me in thanking Jeff and everyone at Hormel for this morning's break. Hormel Foods is a global branded food company, centered on protein, built around a deep understanding of the consumer. They are building on an outstanding ...