Financial Data and Key Metrics Changes - The company reported adjusted earnings per share (EPS) of $2.06 for Q1 2026, aligning with expectations and reflecting a solid start to the fiscal year [4][13] - Adjusted EBITDA increased by 29% compared to the prior year, driven by higher production and natural gas prices [4] Business Line Data and Key Metrics Changes - The integrated upstream and gathering segment achieved net production of 109 BCF, a 12% increase over Q1 2025, highlighting the strength of the Tioga Utica program [23] - The utility business filed a new rate case in Pennsylvania requesting a $20 million increase, which, if approved, would raise customer bills by about 11% [9][10] Market Data and Key Metrics Changes - Natural gas prices have shown significant volatility, with the February contract settling at nearly $7.50, a 140% increase from two weeks prior, marking a record move in NYMEX history [15] - The company anticipates a price environment for natural gas in the $3-$5 range, supported by strong structural demand from LNG exports and power generation [27] Company Strategy and Development Direction - The company is focused on operational excellence and growth, with plans to expand Seneca's inventory and improve capital efficiency, targeting a 30% gain since 2023 [6] - The company is optimistic about future pipeline expansion opportunities and is actively engaged in discussions for additional projects [7][35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the natural gas market, citing all-time high demand and bipartisan support for an all-of-the-above energy approach [5][11] - The adjusted EPS guidance for the full year remains unchanged at $7.60-$8.10, with expectations for a 14% growth over the previous year [14][21] Other Important Information - The company is progressing with the acquisition of CenterPoint's Ohio LDC, expected to close in Q4 2026, with financing secured through a $350 million private placement [12][18] - Regulatory changes in Ohio are expected to shorten the rate case timeline and provide greater certainty in achieving allowed returns [20] Q&A Session Summary Question: Ability to take advantage of local price spikes - The company has a marketing portfolio that allows it to keep some gas available to take advantage of high local prices during cold weather [32][33] Question: Future growth projects in the pipeline business - Management indicated that there are additional opportunities for pipeline projects beyond the announced Tioga Pathway, with ongoing interest in the area [34][35] Question: Impact of federal permitting reform on pipeline projects - Management believes that permitting reform would expedite project development but does not fundamentally change their view on pipeline development [39] Question: Optimal production growth rate - The company aims for a mid-single digit growth rate, contingent on interstate pipeline capacity and market conditions [48] Question: Plans for further delineation or testing in the Upper Utica zone - The company is actively appraising and delineating additional locations in both the upper and lower Utica, with over 400 locations identified [50][51] Question: Variability of the frac barrier between upper and lower Utica - The company has a good understanding of the thickness of the impermeable barrier across its acreage, which is consistent and effective [72] Question: Incremental takeaway industry-wide from the basin - Management noted ongoing projects that are increasing takeaway capacity and expressed cautious optimism about future developments [76][77]

Silicom (NasdaqGS:SILC) Q4 2025 Earnings call January 29, 2026 09:00 AM ET Speaker5Ladies and gentlemen, thank you for standing by. Welcome to the Silicom Fourth Quarter 2025 Results Conference Call. All participants are at present in a listen-only mode. Following management's formal presentation, instructions will be given for the question-and-answer session. As a reminder, this conference is being recorded. You should have all received by now the company's press release. If you have not received it, pleas ...

Origin Bancorp (NYSE:OBK) Q4 2025 Earnings call January 29, 2026 09:00 AM ET Speaker0Good morning and thank you for joining us today. We issue our earnings press release every afternoon, a copy of which is available on our website, along with a slide presentation that we will refer to during this call. We're at page 2 of our slide presentation, which includes our safe harbor statements regarding forward-looking statements and use of non-GAAP financial measures. For those of you joining by the phone, please ...

Brookfield Infrastructure Partners (NYSE:BIP) Q4 2025 Earnings call January 29, 2026 09:00 AM ET Speaker5Good day, and thank you for standing by. Welcome to the Brookfield Infrastructure Partners Fourth Quarter 2025 Results Conference Call and Webcast. 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'll need to press star one one on your telephone. You will then hear an automated ...

Univest Financial (NasdaqGS:UVSP) Q4 2025 Earnings call January 29, 2026 09:00 AM ET Speaker4Hello, everyone, and thank you for joining the Univest Financial Corporation fourth quarter 2025 earnings call. My name is Gabrielle, and I will be coordinating your call today. During the presentation, you can register a question by pressing Star, followed by one on your telephone keypad. If you change your mind, please press Star, followed by two on your telephone keypad. I will now hand over to your host, Jeff Sc ...

Financial Data and Key Metrics Changes - Kenvue's special meeting confirmed the approval of the Merger Proposal, indicating a significant strategic move for the company [4][6] - The Advisory Compensation Proposal was also approved, reflecting shareholder support for management's compensation related to the merger [6] Business Line Data and Key Metrics Changes - No specific data on individual business lines was provided in the meeting [1][2] Market Data and Key Metrics Changes - The meeting did not present detailed market data or metrics [1][2] Company Strategy and Development Direction - The company is pursuing a merger with Kimberly-Clark, which is seen as beneficial for Kenvue and its shareholders [4][5] - The board unanimously recommended the merger, indicating a strong strategic alignment with Kimberly-Clark [5] Management Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook during this meeting [1][2] Other Important Information - The meeting was conducted with a quorum of 78.2% of shares represented, ensuring that decisions made were valid [3] - The final vote results will be reported in a current report on Form 8-K filed with the SEC [6] Q&A Session Summary - There were no questions or answers recorded during this special meeting [1][2]

Financial Data and Key Metrics Changes - The company reported a net income increase of $675,000 in the fourth quarter, driven by the TC Federal acquisition and improved margins [3][15] - Operating pre-provision net revenue improved significantly compared to the fourth quarter of 2024 [15] - Net interest income increased by approximately $3.2 million compared to the prior quarter, with net interest margin rising 15 basis points to 3.32% [15][16] - The tangible common equity (TCE) ratio at the end of the quarter was 8.30%, up from 8% in the prior quarter [25] Business Line Data and Key Metrics Changes - Core loan growth for 2025 was reported at 10.5%, with expectations for 2026 to be closer to the lower end of the 8%-12% target [5][23] - Operating non-interest income for the fourth quarter was $11.1 million, reflecting strong performance in mortgage and SBSL [17] - The company executed a portfolio mortgage pool sale of around $10 million, generating a gain of over $100,000 [7] Market Data and Key Metrics Changes - Deposits increased for the quarter and were organically flat year-over-year, excluding the TC Federal acquisition [6][24] - The company noted increased competition in lending across its footprint, impacting loan growth expectations [5][36] Company Strategy and Development Direction - The company is focused on integrating the TC Federal acquisition and expects to realize cost savings post-systems conversion in the second quarter of 2026 [8][26] - There is an ongoing strategy to enhance performance through disciplined execution and improvement, with a focus on M&A opportunities [12][13] - The company aims to maintain a disciplined approach to pricing and credit while growing core customer relationships [5] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the economic environment in the Southeast and the potential for M&A activity to drive growth [39][48] - The company anticipates a modest increase in net interest margin throughout 2026, supported by loan repricing and deposit growth [24][45] - Management acknowledged the competitive landscape and the need to balance growth with margin improvement [36][40] Other Important Information - The board declared an increase in the quarterly dividend to $0.12 per share, marking another consecutive year of dividend increases [11] - The company was recognized as one of American Banker's 2025 Best Banks to Work For, highlighting its commitment to culture and team members [12] Q&A Session Summary Question: Concerns about small business lending and charge-offs - Management acknowledged that small business lending is high-risk but can offer better returns, and they expect it to improve from current levels [28][29] Question: M&A competition and strategy - Management hopes for negotiated transactions rather than competitive bidding, focusing on partnerships that align with their goals [31][33] Question: Organic growth and competitive environment - Management noted increased competition but emphasized a disciplined approach to pricing and maintaining margins [36][38] Question: Deposit growth and funding loan growth - Management is optimistic about organic deposit growth and plans to leverage non-interest-bearing accounts to fund loans [42][44] Question: Future M&A targets and geographic expansion - Management is open to pursuing larger targets and expanding into contiguous states, while also considering the competitive landscape [46][48] Question: Effective tax rate and expense management - Management expects the effective tax rate to remain around 21% and aims to reduce net operating expenses to historical averages later in the year [50]

Murphy Oil (NYSE:MUR) Q4 2025 Earnings call January 29, 2026 09:00 AM ET Speaker6Good morning, ladies and gentlemen, and welcome to the Murphy Oil Corporation Fourth Quarter 2025 Earnings Conference Call and Webcast. At this time, all lines are in listen-only mode. Following the presentation, we will conduct a question-and-answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. This call is being recorded on Thursday, January 29, 2026. We re ...

Financial Data and Key Metrics Changes - The stockholders approved the issuance of shares of common stock as part of a merger agreement dated November 2, 2025, with Kenvue and other entities [4][7]. Business Line Data and Key Metrics Changes - No specific data or metrics related to individual business lines were provided in the meeting [1]. Market Data and Key Metrics Changes - No specific market data or metrics were discussed during the meeting [1]. Company Strategy and Development Direction and Industry Competition - The meeting focused on the approval of the issuance proposal, indicating a strategic move towards a merger that may enhance the company's market position [4][5]. Management's Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook during this meeting [1]. Other Important Information - The meeting was conducted virtually, and stockholders were encouraged to submit questions via the meeting portal [3][4]. - The final voting results will be reported in a current report on Form 8-K to be filed with the SEC within four business days [7]. Q&A Session Summary - No questions were posed during the meeting, and all inquiries were to be addressed via email after the meeting concluded [4][7].

Financial Data and Key Metrics Changes - The company's book value per share increased by 5% from $19.25 in the prior quarter to $20.21 as of December 31, 2025 [19] - Earnings Available for Distribution (EAD) rose marginally to $0.74, exceeding the dividend for the quarter [7][20] - Economic return for Q4 was 8.6%, bringing the full-year economic return to 20.2% [19][20] Business Line Data and Key Metrics Changes - The agency portfolio ended 2025 at $93 billion in market value, an increase of nearly $6 billion quarter-over-quarter and $22 billion year-over-year [8] - The residential credit portfolio reached $8 billion in market value, up $1.1 billion quarter-over-quarter, representing approximately 19% of the firm's capital [10] - The mortgage servicing rights (MSR) portfolio ended the fourth quarter at $3.8 billion in market value, a nearly $280 million increase quarter-over-quarter and a 15% increase year-over-year [13] Market Data and Key Metrics Changes - Fixed income markets exhibited strong performance, contributing to the highest total return in the U.S. aggregate bond index since 2020 [5] - The yield curve steepened during the quarter as short-term yields fell while long-term yields rose modestly [5] - Swap spreads continued to widen, supported by a shift from Quantitative Tightening to balance sheet expansion by the Fed [6] Company Strategy and Development Direction - The company aims to increase its allocation to residential credit and MSR, targeting a long-term weighting of 50% agency, 30% residential credit, and 20% MSR [46][47] - The diversified housing finance model is expected to continue performing well for shareholders, with a focus on opportunistic investments in the current coupon MSR market [18] - The company remains well-positioned to benefit from growth in the non-QM market and the broader non-agency market [13][17] Management's Comments on Operating Environment and Future Outlook - The macroeconomic environment remains solid, with the labor market showing signs of softness but limited layoffs [4] - The company anticipates continued strong results from its investment strategies in 2026, supported by favorable market conditions [16][18] - Risks include global fiscal challenges and potential changes in housing policy that could impact the agency markets [39][40] Other Important Information - The company raised $560 million of common equity through its ATM in Q4, bringing total equity raised in 2025 to $2.9 billion [8] - The economic leverage ratio remained low at 5.6x, down from the previous quarter [22] - Total assets available for financing reached approximately $9.4 billion, providing significant liquidity and flexibility [23] Q&A Session Summary Question: Update on mark-to-market book values - The book value was up 4%, inclusive of the dividend accrual, with a slight increase noted [25] Question: Portfolio returns and comfort level with the dividend in 2026 - The company expects mid-teens returns and feels confident about the durability of the swaps market as a hedge [26] Question: Insights on the MSR portfolio and current coupon MSR - The company is now active in the MSR exchange platforms and is well-positioned to manage recapture effectively [27][29] Question: Impact of potential G-fee cuts on prepayment environment - A G-fee cut on purchase loans is seen as appropriate, but broad cuts could negatively impact the MBS market [31] Question: Factors that could change the current low-risk environment - Risks include global fiscal issues and asset market euphoria, which could lead to corrections [39] Question: Attractiveness of buying lower-coupon MBS - The valuation on low-coupon MBS is tight, and better ways to manage risk are available [41] Question: Likelihood of GSE portfolio caps being increased - The current capacity is far from hitting caps, and future increases remain uncertain [48]