Sensient Technologies Corporation Fourth Quarter 2025 Earnings Call February 13, 2026 © Sensient Technologies 2026 sensient.com Non-GAAP Financial Measures Within this document, the Company reports certain non-GAAP financial measures, including: (1) adjusted operating income, adjusted net earnings, and adjusted diluted earnings per share, which exclude restructuring and other costs, including the Portfolio Optimization Plan costs, (2) percentage changes in revenue, operating income, and diluted earnings per ...

Financial Data and Key Metrics Changes - The company reported a strong income growth of 12%, with total income reaching GBP 16.4 billion, exceeding guidance of around GBP 16.3 billion [4] - Earnings per share increased by 27% to GBP 0.68, while dividends per share rose by 51% to GBP 0.325 [3] - The cost-income ratio improved to 48.6%, down 4.8 percentage points from the previous year [11] - The return on tangible equity was reported at 19.2% [3] Business Line Data and Key Metrics Changes - Customer loans increased by 5.6% to GBP 392.7 billion, driven by growth in mortgages and unsecured lending [6] - Customer deposits rose by 2.4% to GBP 442 billion, with retail banking deposits increasing by 4% [7] - Assets under management (AUM) grew by nearly 20% to GBP 58.5 billion, with net flows up 44% [8] Market Data and Key Metrics Changes - The company added 1 million new customers during the year, indicating broad-based growth across its three business lines [2] - The net interest margin improved by 21 basis points to 234 basis points, primarily due to deposit growth and margin expansion [4] Company Strategy and Development Direction - The company aims to focus on disciplined growth, emphasizing returns and customer engagement [34] - Plans include leveraging simplification and investing in AI to enhance productivity and customer experience [34] - The target is to grow customer assets and liabilities at an annual rate greater than 4% from 2025 to 2028 [35] Management's Comments on Operating Environment and Future Outlook - The management expects moderate growth in the macro environment for 2026, with unemployment peaking at manageable levels [11] - The guidance for 2026 includes income in the range of GBP 17.2 billion to GBP 17.6 billion, with a loan impairment rate expected to be below 25 basis points [33] Other Important Information - The company successfully completed its 2025 funding plan with GBP 7.1 billion in benchmark issuance [15] - The CET1 ratio was reported at 14%, up 40 basis points from the previous year, reflecting strong capital generation [17] Q&A Session Summary Question: How does the company view risk appetite and RWA optimization? - The company executed five SRT transactions in 2025, optimizing GBP 4.6 billion of RWAs, and plans to continue this strategy in 2026 and 2027 [37][38] Question: What is the rationale for the impairment change guidance? - The guidance for 2026 is set at less than 25 basis points, reflecting a normalization in impairments and growth in the loan book, particularly in unsecured lending [72] Question: Will the company increase lending in private banking and wealth management? - The company expects some increase in RWAs due to the Evelyn acquisition but remains comfortable with the current density levels [78][84]

Financial Data and Key Metrics Changes - Revenue grew 84% year-over-year, reaching $5.1 million for the quarter [4][8] - Net income reported at $6.8 million, marking a significant improvement [9] - Stockholders' equity turned positive to $21.7 million, an increase of nearly $60 million since year-end 2024 [4][9] - Total assets increased to $77.6 million from $60.9 million as of June 30, 2025 [9][10] - Cash and restricted cash totaled $46.2 million, including $23.1 million in cash and cash equivalents [10] Business Line Data and Key Metrics Changes - Commissions were the largest revenue contributor at just over $3 million for the quarter, with clearing fees and stock locate-related activity also contributing meaningfully [8] - The operational performance of Wilson-Davis as the core clearing engine showed continued strength across commissions and clearing-related activities [6][8] Market Data and Key Metrics Changes - The current market environment is becoming increasingly constructive, with greater engagement from broker-dealers and financial institutions seeking efficient operations and modernized infrastructure [4][5] - Firms are expanding their focus beyond traditional equities into a wider range of products and services, emphasizing flexibility and capital efficiency [4] Company Strategy and Development Direction - The company aims to build a modern, technology-enabled financial infrastructure platform for smaller and mid-sized institutions [3] - Priorities include enhancing the client experience, scaling responsibly, and advancing the full AtlasClear vision, including the proposed acquisition of Commercial Bancorp of Wyoming [11][12] - The strategy focuses on execution, delivering for clients, and thoughtful expansion to support long-term growth [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's position entering 2026, highlighting a strengthened balance sheet and operational momentum [13] - The focus is on enhancing the core clearing business with smarter technology and improving connectivity across workflows [13][14] - The regulatory environment is perceived to be improving, potentially accelerating the approval process for the Commercial Bancorp acquisition [24][29] Other Important Information - The company has simplified its capital structure, with approximately 150 million shares outstanding and potential dilution from warrants and convertible notes [15] - Regulatory capital requirements are being met, with a focus on maintaining sufficient liquidity for operations and growth [16] Q&A Session Summary Question: What does the fully diluted share count look like today? - The current outstanding share count is approximately 150 million shares, with potential additional shares from warrants and convertible notes [15] Question: How should investors think about true corporate liquidity versus regulatory capital? - The company maintains a regulatory capital threshold of $10.5 million and aims to keep net capital above $15 million [16] Question: At what revenue level does the clearing business begin to generate consistent operating leverage? - The threshold for operating leverage is around $14 million in operating costs, beyond which the company expects significant scaling [17][18] Question: Can you provide clarity on the expected ramp timeline for new introducing brokerage firms? - The company is optimistic about onboarding new correspondent clearing clients quickly, with measurable impacts on revenue expected in the coming quarters [20][22] Question: What is the status of the proposed Commercial Bancorp acquisition? - The company is preparing to file for regulatory approval, with expectations for a quicker approval process than initially anticipated [23][24][29]

Sixth Street Specialty Lending (NYSE:TSLX) Q4 2025 Earnings call February 13, 2026 08:30 AM ET Speaker7Good morning, and welcome to Sixth Street Specialty Lending, Inc.'s fourth quarter and fiscal year ended December 31, 2025, earnings conference call. At this time, all participants are on a listen-only mode. As a reminder, this conference is being recorded on Friday, February 13, 2026. I will now turn the call over to Ms. Cami Senatore, Head of Investor Relations.Speaker3Thank you. Before we begin today's ...

4Q25 Corporate Presentation MACRO OVERVIEW 1. About us We are a leading Peruvian cement company, with over 67 years of operating history As of Dec-25 LTM, Pacasmayo's cement shipments reached 3.0 million MT Listed on the Lima Stock Exchange (BVL: CPACASC1-PE) since 1995 and on the New York Stock Exchange (NYSE: CPAC) since 2012 Quarterly Highlights S/ 2,116.9 7.0% Compared to LTM Dec 31 2024 SALES VOLUME SALES OF GOODS million EBITDA 3,049.2 MT 7.2% Compared to LTM Dec 31 2024 CEMENT, CONCRETE AND PRECAST S ...

The Wendy’s Company (NasdaqGS:WEN) Q4 2025 Earnings call February 13, 2026 08:30 AM ET Speaker11Good morning! Welcome to the Wendy's Company Earnings Results 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 followed by the number 1 on your telephone keypad. If you would like to withdraw your question, press star followed by the ...

Financial Data and Key Metrics Changes - The company produced results at the high end of its 2025 guidance range, but guidance for 2026 reflects ongoing category challenges, inflationary pressures, and one fewer week in the fiscal year [4] - The company is conducting a comprehensive review of operations, including brand portfolio and financial strategy, to strengthen execution and position for top-line growth and margin expansion [4][10] Business Line Data and Key Metrics Changes - The traditional loaf segment, particularly the Nature's Own brand, has been underperforming, which has downstream effects on operating leverage [9][24] - The company is focused on reinvigorating the Nature's Own brand to generate demand and improve performance in the traditional loaf category [10][24] Market Data and Key Metrics Changes - The overall category is expected to be down 4%, with the company anticipating a rational approach to navigate headwinds [27] - The competitive environment remains normal, with no major uptick in bakery consolidation, and price per unit in the category has increased slightly due to a shift towards premium products [72] Company Strategy and Development Direction - The company is focused on navigating near-term challenges while laying the foundation for sustainable long-term growth [4] - A comprehensive review of capital allocation is underway, with a focus on maintaining a strong balance sheet and evaluating the dividend in light of the capital structure [13][32] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges posed by inflation and changing consumer preferences, particularly in the traditional loaf segment [21][74] - The company is optimistic about the potential for growth in the Simple Mills brand, expecting double-digit growth next year despite recent disruptions [59] Other Important Information - The company is reviewing its supply chain and distribution network to enhance efficiency and reduce costs [47] - There is an ongoing evaluation of the brand portfolio, which may include potential divestitures, but no concrete plans are currently in place [50] Q&A Session Summary Question: Details on the comprehensive review of brands and operations - Management is in the early stages of a comprehensive review, focusing on brand portfolio support and areas needing investment, particularly in traditional loaf [8][11] Question: Capital allocation and dividend considerations - The company is reviewing its capital structure and dividend commitments, emphasizing the importance of shareholder value [12][30] Question: Stabilizing the traditional loaf market - Management believes that traditional loaf remains important, and they are focused on strategies to reinvigorate demand for Nature's Own [21][24] Question: Factors impacting the 2026 outlook - The company is considering various factors, including SNAP budget reductions and potential impacts from a Supreme Court case, in its 2026 guidance [34][37] Question: Supply chain review and potential bakery consolidation - The supply chain review includes evaluating production capabilities, but no major consolidation is currently planned [46][72] Question: Changes in brand investment strategy - The company has ramped up brand investment and innovation, particularly focusing on traditional loaf to address current market challenges [68][70]

Safe Harbor 4Q25 Earnings Conference Call February 2026 This material includes "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. All statements other than statements of historical fact are forward-looking and may contain information about financial results, economic conditions, trends and known uncertainties. Forward-looking statements are not assurances of future performance. Instead, they are based ...

Financial Data and Key Metrics Changes - In Q4 2025, revenue grew 43% year-over-year to nearly $2 billion, with Adjusted EBITDA reaching $343 million, four times the prior year period [4][13] - Adjusted EBITDA margin expanded by over 1,000 basis points year-over-year to 17% [4][13] - For fiscal year 2025, revenue increased 27% year-over-year to above $6 billion, and Adjusted EBITDA more than tripled to over $600 million [6][16] Business Line Data and Key Metrics Changes - Fantasy revenue increased as the Pick Six product began to scale [13] - Sportsbook revenue rose over 30% year-over-year, with Q4 revenue increasing 64% year-over-year to $1.4 billion [14] - iGaming revenue grew by 20% due to expanded offerings [14] - Lottery revenue benefited from a stronger jackpot environment and the rollout of new games [14] Market Data and Key Metrics Changes - Sportsbook handle increased 11% year-over-year to $54 billion, with a total potential payout across all open wagers reaching $2.5 trillion [15] - In January, Sportsbook handle increased 4% year-over-year, despite sportsbook-friendly outcomes [7][15] Company Strategy and Development Direction - The company is focusing on the predictions market as a significant growth opportunity, targeting hundreds of millions in annual revenue in the coming years [5][9] - Plans include integrating Railbird and launching a market-making division to enhance customer experience and liquidity [11][12] - The company aims to lead the predictions category and is optimistic about regulatory developments that support this growth [9][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business model's efficiency and sustainability, expecting revenue and Adjusted EBITDA growth for many years [6][7] - The regulatory environment has improved, providing a stable backdrop for predictions, which is seen as a major growth area [20][21] - Management acknowledged the importance of customer acquisition and retention, with a focus on optimizing promotional strategies [38][39] Other Important Information - The company repurchased 16 million shares during fiscal year 2025 and plans to continue share repurchases as Adjusted EBITDA grows [4][16] - The company reported positive net income for the first time, indicating improved operational efficiency [16] Q&A Session Summary Question: Discussion on prediction markets and investment confidence - Management highlighted regulatory clarity from the CFTC as a key factor in their increased focus on prediction markets, viewing it as a significant growth opportunity [20][21] Question: Guidance on revenue deceleration - Management explained that the guidance reflects a conservative approach, with expectations of handle growth and net revenue margin improvements [24][25] Question: Revenue drivers for 2026 - Predictions are seen as an upside opportunity, with no revenue included in the guidance for 2026, focusing instead on customer acquisition costs [31] Question: Competitive environment and promotional intensity - Management characterized the current promotional environment as rational, with no significant uptick in promotional activity from competitors [70][85] Question: Legislative updates on prediction markets - Management noted that discussions around prediction markets are gaining traction in state legislatures, which could influence future legalization of online sports betting [72]

Financial Data and Key Metrics Changes - TC Energy reported a 13% year-over-year growth in comparable EBITDA for the fourth quarter, reaching nearly CAD 3 billion [13] - The company achieved a 9% year-over-year increase in comparable EBITDA for the full year 2025 [4] - The board declared a first quarter 2026 dividend of CAD 0.8775 per common share, marking a 3.2% year-over-year increase [20] Business Line Data and Key Metrics Changes - In Canada, EBITDA increased by CAD 110 million due to higher incentive earnings and flow-through depreciation [14] - In the U.S., EBITDA rose by CAD 188 million, primarily from the Columbia Gas settlement and additional contract sales [14] - In Mexico, EBITDA increased by CAD 163 million, a 70% increase year-over-year, attributed to the completion of Southeast Gateway [14] Market Data and Key Metrics Changes - North American natural gas demand is expected to increase by 45 Bcf/d from 2025 to 2035, equivalent to adding the entire European gas market over the next decade [5] - The company serves seven LNG facilities, representing 30% of North American LNG feed gas across Canada, the U.S., and Mexico [5] - Electricity demand in North America is projected to grow by 65% through 2050 [6] Company Strategy and Development Direction - TC Energy's strategy focuses on maximizing asset value through safety and operational excellence while leveraging commercial and technological innovation, including AI [22] - The company aims to prioritize low-risk, high-return growth, with a target of CAD 6 billion in net annual capital expenditures through 2030 [22] - The company is optimizing its capital plan by shifting CAD 500 million of capital forward into 2026 to capture in-year EBITDA [7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to deliver solid growth, low risk, and repeatable performance, supported by a strong project pipeline [23] - The company anticipates strong EBITDA momentum heading into 2026, with CAD 4 billion in projects expected to go into service [16] - Management highlighted the importance of maintaining financial strength and agility to support long-term value creation [22] Other Important Information - The company advanced CAD 5 billion of projects at various stages in the fourth quarter and placed CAD 2 billion of assets into service on time and under budget [6] - The pending approval portfolio now sits at about CAD 8 billion, with an additional CAD 12 billion of projects in origination [9] - Bruce Power's availability is expected to improve to the low 90s% range for 2026, contributing to financial performance [11] Q&A Session Summary Question: Can you provide insights on the balance sheet capacity for 2031? - Management indicated a deep pipeline of opportunities, with about CAD 12 billion in projects ranging from CAD 200 million to over CAD 1 billion [27] Question: What is the strategic rationale behind the Crossroads project? - The Crossroads expansion is primarily driven by power generation requirements, including data center demand and coal to gas switching [31] Question: Can you discuss the characteristics of the CAD 8 billion pending approval projects versus the CAD 12 billion in origination? - Pending projects are characterized as 90% or more likely to be sanctioned, while the origination projects are in earlier stages of development [57]