Gulfport Energy (NYSE:GPOR) Q4 2025 Earnings call February 25, 2026 10:00 AM ET Company ParticipantsCarlos Escalante - Senior AssociateJessica Antle - VP of Investor RelationsJohn Reinhart - President and CEOMatthew Rucker - EVP and COOMichael Hodges - EVP and CFOZachariah Parham - Executive Director of Equity ResearchConference Call ParticipantsNeal Dingmann - AnalystNicholas Pope - Managing Director and Senior Research AnalystNoel Gonzalez - AnalystPeyton Dorne - AnalystOperatorAs a reminder, this confere ...

Volaris (NYSE:VLRS) Q4 2025 Earnings call February 25, 2026 10:00 AM ET Company ParticipantsEnrique Beltranena - Founder and CEOHolger Blankenstein - Executive Vice PresidentJaime Pous - CFOLiliana Juárez - Investor Relations ManagerRicardo Alves - Director and Tech Project ManagerConference Call ParticipantsNone - AnalystNone - AnalystOperatorGood morning, everyone. Thank you for joining Volaris' fourth quarter and full year 2025 financial results conference call. All lines are currently in a listen-only m ...

BKV (NYSE:BKV) Q4 2025 Earnings call February 25, 2026 10:00 AM ET Company ParticipantsBetty Jiang - Managing Director of US Integrateds and E&Ps Equities ResearchChris Kalnin - CEODavid Tameron - CFOEric Jacobsen - President of UpstreamJacob Roberts - DirectorJonathan Mardini - Equity Research AssociateMichael Furrow - VP of PEP ResearchMichael Hall - VP of Investor RelationsMichael Scialla - Managing DirectorPhu Pham - Equity Research AssociateScott Gruber - Director of Oilfield Services and Equipment Res ...

Financial Data and Key Metrics Changes - Adjusted diluted earnings per common share increased to $2.17 from $0.25 in the prior year quarter, primarily due to a lower net loss ratio and higher net premiums earned and net investment income [4] - Core revenue reached $403.6 million, up 4.4% year-over-year, driven by higher net premiums earned and net investment income [4] - Direct premiums written were $483.7 million, reflecting a 2.7% increase from the prior year quarter, with an 18.2% growth in other states, partially offset by a 3.1% decrease in Florida [4] Business Line Data and Key Metrics Changes - Direct premiums earned amounted to $538 million, up 3.6% year-over-year, indicating growth in direct premiums written over the past 12 months [5] - Net premiums earned were $363.4 million, up 4.3% from the prior year quarter, attributed to higher direct premiums earned and a lower ceded premium ratio [5] - The net combined ratio improved to 87.5%, down 20.4 points compared to the prior year quarter, due to a lower net loss ratio [5] Market Data and Key Metrics Changes - The net loss ratio decreased to 61.3%, down 21 points from the prior year quarter, reflecting better current accident year results [5] - The net expense ratio increased to 26.2%, up 0.6 points from 25.6% in the prior year quarter, driven by higher other operating costs [6] Company Strategy and Development Direction - The company is negotiating its 2026 reinsurance program, with a substantial portion of its first event catastrophe tower already placed [3] - The company is optimistic about the competitive environment, citing favorable relationships with agency forces and positive market trends [9] - The company plans to continue analyzing markets for profitability, with a focus on Florida, where positive developments have been observed [9][11] Management's Comments on Operating Environment and Future Outlook - Management highlighted the benefits of Florida's legislative reforms, which have stabilized the market and benefited all stakeholders [3] - The company anticipates modest declines in rates but emphasizes that a decrease in rates does not necessarily lead to a decrease in earnings [10] - Management expressed confidence in the current operating environment, noting improved retention rates and the potential for reduced reinsurance costs [11] Other Important Information - The company repurchased approximately 210,000 shares at a cost of $6.9 million during the fourth quarter [6] - A new share repurchase program was announced, allowing for the repurchase of up to $20 million of outstanding shares through January 2028 [6] - A quarterly cash dividend of $0.16 per common share was declared, payable on March 13, 2026 [7] Q&A Session Summary Question: Competitive environment and price declines - Management views the competitive environment as favorable, with positive market trends and strong agency relationships [9] Question: Regulatory environment and affordability issues - Management credited Florida's legislative actions for the current favorable position of the industry and indicated ongoing actuarial studies for rate adjustments [10][11]

Financial Data and Key Metrics Changes - Adjusted diluted earnings per common share increased to $2.17 from $0.25 in the prior year quarter, primarily due to a lower net loss ratio and higher net premiums earned and net investment income [4] - Core revenue reached $403.6 million, up 4.4% year-over-year, driven by higher net premiums earned and net investment income [4] - Direct premiums written were $483.7 million, reflecting a 2.7% increase from the prior year quarter, with an 18.2% growth in other states, partially offset by a 3.1% decrease in Florida [4] Business Line Data and Key Metrics Changes - Direct premiums earned totaled $538 million, up 3.6% year-over-year, indicating growth in direct premiums written over the past 12 months [5] - Net premiums earned were $363.4 million, up 4.3% from the prior year quarter, attributed to higher direct premiums earned and a lower ceded premium ratio [5] - The net combined ratio improved to 87.5%, down 20.4 points compared to the prior year quarter, due to a lower net loss ratio [5] Market Data and Key Metrics Changes - The net loss ratio decreased to 61.3%, down 21 points from the prior year quarter, reflecting better current accident year results [5] - The net expense ratio increased to 26.2%, up 0.6 points from 25.6% in the prior year quarter, driven by higher other operating costs [6] Company Strategy and Development Direction - The company is negotiating its 2026 reinsurance program, with a substantial portion of its first event catastrophe tower already placed [3] - The company is optimistic about the competitive environment, citing favorable relationships with agency forces and positive market trends [9] - The company plans to continue analyzing markets for profitability, with a focus on Florida, where positive developments have been observed [9][11] Management's Comments on Operating Environment and Future Outlook - Management highlighted the benefits of Florida's legislative reforms, which have stabilized the market and benefited all stakeholders [3] - The company anticipates that favorable legislation and reduced severity and frequency of claims will continue to create a positive environment [10][11] - Management expressed confidence in the company's capital position and reserves, stating they are the strongest in the company's history [3] Other Important Information - The company repurchased approximately 210,000 shares at a cost of $6.9 million during the fourth quarter [6] - A new share repurchase program was announced, allowing for the repurchase of up to $20 million of outstanding shares through January 2028 [6] - A quarterly cash dividend of $0.16 per common share was declared, payable on March 13, 2026 [7] Q&A Session Summary Question: Competitive environment and price declines - Management views the competitive environment as favorable, with positive market trends and increased business across opened markets [9] Question: Regulatory environment and affordability issues - Management credited Florida's legislative actions for the current favorable position of the industry and indicated that a decrease in rates does not necessarily lead to decreased earnings [10][11]

Summary of Avalo Therapeutics FY Conference Call Company Overview - **Company**: Avalo Therapeutics (NasdaqCM:AVTX) - **Focus**: Development of treatments for hidradenitis suppurativa (HS), an inflammatory skin condition Industry Insights - **Market Size**: HS affects over 1% of the U.S. population, indicating a larger market than previously thought, with significant underdiagnosis and undertreatment [3] - **Current Treatments**: There are three approved compounds for HS, generating aggregate sales in the multiple billions of dollars, with rapid growth expected [3] Product Development - **Product**: AVTX-009, an anti-IL-1 monoclonal antibody - **Clinical Trials**: Top-line Phase II results expected in Q2 2026 [4] - **Mechanism of Action**: IL-1 is a central target in the inflammatory process of HS, driving neutrophil activity and lesion formation [6][7] - **Unique Properties**: AVTX-009 has high affinity and specificity for IL-1, allowing better penetration into lesions, which are under high pressure [8][9] Clinical Trial Design - **Primary Endpoint**: HiSCR75, which measures a 75% reduction in abscess or inflammatory nodule count, is considered more clinically relevant than HiSCR50 [10][11] - **Placebo Response Management**: The trial design includes a large sample size of over 250 patients and collaboration with experienced investigators to mitigate placebo effects [14][15][16] Regulatory Strategy - **Phase III Design**: Plans to discuss with the FDA for potential efficiencies in trial design, considering recent guidance for single pivotal trials [17][18][19] Competitive Landscape - **Market Dynamics**: The HS market is evolving with new entrants and therapies, creating opportunities for differentiation based on mechanism of action, dosing convenience, and safety profile [20][21] - **Strategic Directions**: Focus on the U.S. market initially, with potential for international partnerships and expansion into other therapeutic areas [23] Financial Position - **Cash Reserves**: Approximately $95 million in cash, sufficient to fund operations through the upcoming data release, with plans to raise additional funds for Phase III trials [32] Future Outlook - **Upcoming Milestones**: Anticipation of top-line data from the LOTUS trial next quarter, with potential regulatory discussions for Phase III trials in 2027 [27][29]

BlueLinx (NYSE:BXC) Q4 2025 Earnings call February 25, 2026 10:00 AM ET Company ParticipantsAditya Madan - Senior Equity Research AssociateJeffrey Stevenson - VP of Equity DivisionKelly Wall - CFO and TreasurerShyam Reddy - CEOTom Morabito - Investor Relations OfficerConference Call ParticipantsJohn McGlade - Associate Equity Research AnalystOperatorLadies and gentlemen, thank you for standing by, and welcome to the BlueLinx Holdings' fourth quarter and full year 2025 earnings conference call. At this time, ...

EOG Resources (NYSE:EOG) Q4 2025 Earnings call February 25, 2026 10:00 AM ET Company ParticipantsAnn Janssen - CFODerrick Whitfield - Managing DirectorEzra Yacob - Chairman and CEOJeff Leitzell - COOKeith Trasko - SVP of Exploration and ProductionMatthew Portillo - Partner and Head of ResearchNeil Mehta - Head of Americas Natural Resources Equity ResearchPearce Hammond - VP of Investor RelationsPhillip Jungwirth - Managing DirectorScott Hanold - Managing DirectorSteve Richardson - Senior Managing DirectorCo ...

Financial Data and Key Metrics Changes - Full-year adjusted EBITDA was $634 million, with adjusted net income at $7.56 per share, indicating a strong performance for the year [3][13] - Fourth quarter adjusted EBITDA was $113 million, and adjusted net income was $60 million, or $1.17 per share [13] - Liquidity improved by 49% to approximately $915 million, with shares outstanding reduced by 10% [7][19] Business Line Data and Key Metrics Changes - The refining segment generated $88 million of adjusted EBITDA in the fourth quarter, down from $135 million in the third quarter [13][14] - Logistics segment adjusted EBITDA was $30 million in the fourth quarter, compared to $37 million in the third quarter, with full-year logistics adjusted EBITDA reaching a record $126 million [17][18] - Retail achieved a record $86 million in adjusted EBITDA for the full year, up from $76 million in 2024 [18] Market Data and Key Metrics Changes - The combined refining index averaged $13.13 per barrel in the fourth quarter, down approximately $1.60 from the prior quarter [14] - Hawaii's throughput averaged 84,000 barrels per day, approximately 4% above the prior 3-year average [4] - In Wyoming, throughput was 14,000 barrels per day, with production costs elevated at $13.27 per barrel due to a third-party power outage [11] Company Strategy and Development Direction - The company aims to improve mid-cycle earnings contribution through targeted high-return projects and maintain disciplined capital allocation [8][19] - Strategic priorities include executing the Hawaii turnaround safely, starting up the renewable fuels unit, and enhancing logistics integration [8][19] - The company is focused on structural improvements rather than predicting short-term market movements [8] Management's Comments on Operating Environment and Future Outlook - Management expressed a constructive view on the medium-term economic outlook, citing an improving policy backdrop [7] - The company highlighted the importance of operational reliability and safety as foundational to financial success [4] - Management emphasized the need for disciplined growth and the potential for external growth opportunities, including retail integration and refinery acquisitions [29][30] Other Important Information - The company reported a significant operational recovery following the Wyoming heater outage, restoring operations more than one month ahead of schedule [10] - Cash from operations for the full year was $568 million, excluding working capital outflows [18] - The company has monetized less than half of the SRE-related excess RIN inventory, providing favorable working capital visibility into 2026 [19] Q&A Session Summary Question: Capital allocation and share repurchases - Management indicated a flexible approach to capital allocation, considering both share repurchases and internal growth opportunities [23] Question: Q4 capture rates and outlook - Management explained that lower capture rates in the Rockies were due to coker downtime and a regional power outage impacting operations [24][25] Question: External growth opportunities - Management discussed the focus on synergistic growth opportunities, including small retail acquisitions and new builds, while being disciplined in larger M&A [28][29] Question: Sensitivity to WCS differential - Management clarified that every dollar of WCS differential is worth around $15 million to $16 million annually, with favorable conditions expected due to increased Venezuelan crude [35][36]

Starwood Property Trust (NYSE:STWD) Q4 2025 Earnings call February 25, 2026 10:00 AM ET Company ParticipantsBarry Sternlicht - Co-Founder, Chairman, and CEOJeffrey DiModica - President and Managing DirectorRina Paniry - CFOSean Murdock - President of Starwood Infrastructure FinanceZachary Tanenbaum - COO and Head of Investor RelationsConference Call ParticipantsDon Fandetti - Managing Director and Senior Equity Research AnalystGabe Poggi - Senior Equity Research AnalystJade Rahmani - Managing Director and S ...