Horizon Bancorp (NasdaqGS:HBNC) Q3 2025 Earnings Call October 23, 2025 08:30 AM ET Speaker1Good morning, everyone, and welcome to the Horizon Bancorp Inc. conference call to discuss financial results for the third quarter of 2025. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star and then on ...

Altisource Portfolio Solutions (NasdaqGS:ASPS) Q3 2025 Earnings Call October 23, 2025 08:30 AM ET Speaker2Good day and thank you for standing by. Welcome to the Altisource Portfolio Solutions Third Quarter 2025 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press *11 on your telephone. You will then hear an automated message advising that ...

Honeywell (NasdaqGS:HON) Q3 2025 Earnings Call October 23, 2025 08:30 AM ET Speaker2Thank you for standing by and welcome to the Honeywell third quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. Please be advised that today's call is being recorded. I would now like to hand the call over to Sean Meakim, Vice President of Investor Relations. Please go ahead.Speaker1Thank you. Good mor ...

Simply Good Foods (NasdaqCM:SMPL) Q4 2025 Earnings Call October 23, 2025 08:30 AM ET Speaker0Greetings, and welcome to the Simply Good Foods Company Fiscal Fourth Quarter twenty twenty five Conference Call. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. It is now my pleasure to introduce your host, Joshua Levine, Vice President of Investor Relations. Thank you.You may begin.Speaker1Thank you, operator. Good morning, and welcome to ...

Financial Data and Key Metrics Changes - Total company revenue for the quarter was $2.6 billion, with adjusted EBITDA of $531 million, resulting in a margin of 20.1% when excluding foreign exchange impacts [4][10] - Free cash flow generated was $448 million, with total shareholder distributions amounting to $271 million through dividends and share repurchases [4][11] - The company ended the period with a total backlog of $16.8 billion [10] Business Line Data and Key Metrics Changes - Subsea revenue was $2.3 billion, reflecting a 5% increase compared to the previous quarter, driven by increased project activity, particularly in iEPCI™ projects [10] - Surface Technologies revenue was $328 million, up 3% from the second quarter, primarily due to higher activity in the North Sea and Asia-Pacific [10] - Adjusted EBITDA for subsea was $506 million, with a margin of 21.8%, while Surface Technologies had an adjusted EBITDA of $54 million, maintaining a margin of 16.4% [10][11] Market Data and Key Metrics Changes - The company reported strong inbound orders of $2.6 billion, with subsea orders contributing $2.4 billion [10] - The company anticipates securing over $10 billion in subsea orders in 2025 and maintaining strong activity levels through the end of the decade [6][8] - The offshore market is expected to receive an increasing share of capital investment due to improvements in project execution and cost management [6][8] Company Strategy and Development Direction - The company is focused on reducing cycle times and improving project returns through innovations like Subsea 2.0 and the integrated execution model iEPCI™ [7][8] - The strategy emphasizes operational excellence and the ability to deliver projects on time and within budget, which has led to increased direct awards from clients [8][64] - The company has authorized an additional $2 billion in share repurchases, reflecting confidence in its outlook and commitment to maximizing shareholder value [9][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving over $10 billion in subsea orders for 2025, citing strong commercial success and customer trust [6][8] - The company highlighted the importance of continuous improvement and lean operating principles to enhance project execution and returns [9][39] - Management noted that the offshore market is becoming more favorable for investment due to improved project economics and reduced execution risks [6][48] Other Important Information - The company reduced its debt by $258 million during the quarter, ending with $438 million in gross debt [11][12] - Cash and cash equivalents stood at $877 million, with a net cash position of $439 million [12] - The company expects a decline in revenue for the fourth quarter due to seasonal impacts, with adjusted EBITDA margin anticipated to decrease to 18.8% [12][13] Q&A Session Summary Question: Share repurchase authorization and cash return in 2026 - Management confirmed a commitment to return at least 70% of free cash flow to shareholders, maintaining the same level as in 2025 [18][20] Question: Subsea award intake and working capital expectations - Management indicated that there are still more awards to be announced and emphasized the strength of their order intake, which is differentiated by direct awards [22][23][25] Question: 2026 subsea guidance and backlog conversion - Management expressed confidence in the 2026 subsea guidance, highlighting strong backlog coverage and the quality of projects [27][30] Question: Drivers of margin expansion in 2026 - Management identified Subsea 2.0 and iEPCI™ execution as key drivers for margin expansion, emphasizing sustainable operational improvements [36][38] Question: Outlook for Surface Technologies - Management noted that the outlook for Surface Technologies remains less certain compared to subsea, but highlighted strong positioning in key markets [51][54] Question: All-electric subsea infrastructure opportunities - Management discussed progress in all-electric subsea projects, emphasizing applications in carbon capture and storage, and brownfield tiebacks [55][57] Question: Execution focus as backlog deepens - Management reiterated a commitment to only take on work that can be executed effectively, ensuring high performance and repeat awards [62][66]

Financial Data and Key Metrics Changes - Net sales for Q3 2025 were $902 million, up 6% at constant currency, reflecting outperformance in light vehicle turbo sales for both gasoline and diesel applications [7][14] - Adjusted EBIT was $133 million with an adjusted EBIT margin of 14.7%, which includes a 20 basis point dilution from tariff recoveries [8][17] - Adjusted free cash flow for the quarter was $107 million, contributing to a year-to-date total of $264 million [23] Business Line Data and Key Metrics Changes - Gasoline sales grew by 10% in the quarter, driven by demand gains and new product launches [8][16] - Diesel performance was strong in Europe and North America, although there was continued weakness in aftermarket applications, particularly in North America [16][51] - The company secured over $40 million in awards for commercial vehicles and industrial turbochargers, with expectations for sales exceeding $100 million in 2025 from these products [11] Market Data and Key Metrics Changes - The company experienced favorable foreign currency impacts, contributing to a 9% increase in net sales compared to the prior year [15] - There was a noted recovery of $12 million from tariffs within the quarter, which positively impacted financial results [16] Company Strategy and Development Direction - The company aims to leverage its capabilities to develop differentiated, high-speed, and highly efficient technologies to generate robust returns for shareholders [22] - There is a growing interest in developing turbochargers for hybrids and range-extended electric vehicles, with several awards secured for these technologies [10] - The company is focusing on zero-emission products, with significant progress in developing high-speed e Powertrain and oil-free centrifugal compressors [12][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the automotive industry's improved forecast for the second half of the year, leading to a raised 2025 outlook midpoint [8][21] - The company noted that while diesel is trending down slowly, it remains a strong business, particularly in light commercial vehicle applications [50][51] - Management highlighted the importance of capital allocation, committing to return 75% of adjusted free cash flow to shareholders over time through dividends and share repurchases [20][60] Other Important Information - The Board approved a 33% increase in the quarterly dividend to $0.08 per share for Q4 2025 [9][20] - The company repurchased $84 million worth of shares during the quarter, including shares from its largest shareholder [20] Q&A Session Summary Question: Can you elaborate on the volume mix and its geographic impact? - Management clarified that the mix impact is primarily due to strong growth in gasoline turbos and some weakness in the aftermarket, particularly in commercial vehicle applications [27][28] Question: What is the outlook for commercial vehicle performance? - Management indicated that while the outlook is generally soft, there are signs of stabilization in China, particularly in agricultural and construction equipment [31][32] Question: What is the path to achieving $1 billion in zero-emission technology revenue by 2030? - Management outlined three technologies contributing to this goal, emphasizing the growth potential in e Powertrain and e cooling compressors, with production expected to ramp up starting in 2027 [36][39] Question: Can you discuss the recovery seen in diesel? - Management noted a year-over-year recovery in diesel, particularly in North America, but acknowledged a long-term trend of declining diesel penetration in passenger vehicles [50][51] Question: What are the performance attributes of the e cooling technologies? - Management highlighted the efficiency, low noise, and weight advantages of their e cooling technologies, which leverage high-speed electric motors and airfoil bearing systems [66][68] Question: What should be expected regarding capital allocation moving forward? - Management reiterated their commitment to returning capital to shareholders while remaining flexible based on macroeconomic conditions [71][72]

Financial Data and Key Metrics Changes - The company reported net income of $188 million and adjusted net income of $191 million for Q3 2025, with earnings per diluted share at $4.02, excluding a $3 million post-tax impact from repurchased debt expenses [4][5] - Tangible book value per common share increased by 19% year over year to $56.36, and return on average tangible common equity was 28.6% for the quarter [4][5] - Credit sales rose by 5% year over year to $6.8 billion, despite a decrease in average loans by 1% year over year to $17.6 billion [11][12] Business Line Data and Key Metrics Changes - Revenue decreased by 1% year over year to $971 million, impacted by lower billed late fees and higher retailer share arrangements [11][12] - Total non-interest expenses decreased by $98 million, with adjusted total non-interest expenses down 1% year over year [12][13] - The company experienced a decrease in net interest income by 1% year over year, attributed to lower billed late fees and a shift in risk and product mix [13][16] Market Data and Key Metrics Changes - The delinquency rate for Q3 was 6.0%, down 40 basis points year over year, while the net loss rate was 7.4%, also down 40 basis points year over year [20][21] - Direct-to-consumer deposits grew to $8.2 billion, accounting for 47% of average funding, up from 41% a year ago [17][18] - The CET1 ratio improved to 14.0%, up 100 basis points sequentially and 70 basis points year over year [18][19] Company Strategy and Development Direction - The company is focused on responsible growth and executing its business strategy while investing in technology modernization and product innovation [6][7] - New brand partnerships in the home vertical, including Bed Bath & Beyond and Raymour & Flanagan, are expected to drive future growth [9][10] - The company aims to maintain expense discipline and operational excellence, with a commitment to returning value to shareholders through increased dividends and share repurchases [8][10] Management's Comments on Operating Environment and Future Outlook - Management noted that consumer financial health remained resilient, with strong credit sales and lower delinquencies despite ongoing inflationary concerns [4][5] - The outlook for the remainder of the year remains unchanged, with expectations for credit sales trends to continue positively [6][24] - Management expressed confidence in achieving full-year positive operating leverage and maintaining a net loss rate within the guided range of 7.8% to 7.9% [24][25] Other Important Information - The company announced a $200 million increase to its share repurchase authorization and a 10% increase in its quarterly cash dividend to $0.23 per common share [8][20] - A credit rating upgrade and positive outlook from Moody's were recognized, reflecting improvements in financial resilience and risk management [10][18] Q&A Session Summary Question: Signs of weakness in the portfolio - Management indicated that consumer metrics have been surprisingly resilient, with stable macro conditions and no significant signs of weakness in their portfolio [28][29] Question: Loan growth expectations - Management expects loan growth to pick up as credit quality improves and new partnerships are established, indicating a healthy consumer environment [34] Question: Trends in credit sales and holiday shopping - Management noted that credit sales are currently positive, with expectations for aggressive retailer promotions during the holiday season to attract consumers [46] Question: Impact of discounts on Bread Financial - Management anticipates that retailers will likely push discounts earlier in the buying cycle, which could influence consumer spending behavior [71] Question: Underwriting standards and growth - Management confirmed that underwriting remains prudent and focused on profitability, with gradual adjustments based on improving credit quality and macroeconomic conditions [75][76]

Plexus (NasdaqGS:PLXS) Q4 2025 Earnings Call October 23, 2025 08:30 AM ET Speaker0Ladies and gentlemen, thank you for joining us, and welcome to the Plexus Fiscal Fourth Quarter and Fiscal Year End twenty twenty five Conference Call. After today's prepared remarks, we will host a question and answer session. I will now hand the conference over to Shawn Harrison, Vice President of Investor Relations. Please go ahead.Speaker1Good morning, and thank youSpeaker2for joining us today. Some of the statements made ...

Financial Data and Key Metrics Changes - The company reported GAAP EPS of $1.01 for Q4 2025, up from $0.99 in the prior year, with adjusted EPS growing nearly 6% to $1.09 from $1.03 [9] - Average daily sales improved by 2.7% year over year in Q4, with core customer average daily sales growth turning positive [6][7] - For the fiscal year, average daily sales declined 1.3% year over year, with gross margin contracting to 40.8%, down 40 basis points [12][13] Business Line Data and Key Metrics Changes - High-touch solutions, including vending and implant programs, continued to show strong performance, with vending sales up 10% year over year [17] - Core customer daily sales improved by 4.1% year over year, while national accounts declined by 0.7% [16] - Public sector sales grew by 8.5% year over year, although there was a negative impact from the government shutdown in October [16][70] Market Data and Key Metrics Changes - The aerospace sector remains strong, while heavy equipment and agriculture markets are stabilizing after a period of weakness [10][11] - The company noted pockets of acute softness in markets such as heavy trucks, but overall conditions are characterized as stable with some improvement [10][11] Company Strategy and Development Direction - The company is focused on three top priorities: maintaining momentum in high-touch solutions, re-energizing the core customer base, and optimizing cost to serve [4][5] - There is an emphasis on enhancing the e-commerce experience and marketing efforts to support core customer growth [5][18] - Leadership transitions are underway, with a new SVP of Sales and a focus on improving customer experience [21][22] Management's Comments on Operating Environment and Future Outlook - The management described the operating environment as stable with ongoing uncertainty, particularly regarding tariffs and inflation [10] - Expectations for fiscal 2026 include average daily sales growth of 3.5% to 4.5%, with adjusted operating margins projected between 8.0% and 8.6% [23][24] - The company anticipates continued productivity improvements and a return to gross margin stability [24][44] Other Important Information - The company maintained a healthy balance sheet with net debt of approximately $430 million, representing about 1.1 times EBITDA [14] - Free cash flow for Q4 was $58 million, representing 104% of net income, with a full-year conversion of 122% [14][15] - The company returned $229 million to shareholders through share repurchases and dividends during the fiscal year [15] Q&A Session Summary Question: On gross margin and supplier price increases - Management acknowledged an unusual surge in supplier price increases and noted that they have taken further pricing actions to address this [37][41] Question: On seller effectiveness KPIs - Management indicated they are in the early stages of operational changes, with improvements in customer touches and sales per rep per day [50][51] Question: On macroeconomic conditions and national accounts - Management highlighted that while some markets are stabilizing, there are still acute challenges, particularly in heavy truck markets [54][55] Question: On pricing strategy for 2026 - Management stated that pricing actions will be taken as needed to meet inflation, with expectations for low single-digit increases [60][61] Question: On government shutdown impacts - Management noted a strong public sector performance in Q4, but a decline in October due to the shutdown, with expectations for recovery once it ends [69][70]

Horizon Bancorp (NasdaqGS:HBNC) Q3 2025 Earnings Call October 23, 2025 08:30 AM ET Speaker0Good morning, everyone, and welcome to the Horizon Bancorp, Inc. Conference Call to discuss Financial Results for the 2025. After today's presentation, there will be an opportunity to ask questions. At this time, I'd like to turn the floor over to Todd Etzler, Executive Vice President, Corporate Secretary, and General Counsel for the opening introduction.Speaker1Good morning, and welcome to our third quarter conferenc ...