Host Hotels & Resorts (NasdaqGS:HST) Q4 2025 Earnings call February 19, 2026 10:00 AM ET Company ParticipantsAri Klein - Managing Director and Equity ResearchJaime Marcus - SVP of Investor RelationsJim Risoleo - President and CEOSmedes Rose - Managing DirectorSourav Ghosh - EVP and CFOConference Call ParticipantsChris Darling - Senior Analyst, Head of U.S. Lodging and Gaming ResearchDany Asad - AnalystDavid Katz - Managing Director and Senior Equity AnalystDori Kesten - AnalystDuane Pfennigwerth - Equity An ...

Claros Mortgage Trust (NYSE:CMTG) Q4 2025 Earnings call February 19, 2026 10:00 AM ET Company ParticipantsAnh Huynh - VP of Investor RelationsChris Muller - DirectorJohn Nicodemus - Managing DirectorMike McGillis - President and CFOPriyanka Garg - EVPRichard Mack - CEORick Shane - Managing DirectorOperatorHello, and welcome to the Claros Mortgage Trust fourth quarter 2025 earnings conference call. My name is Becky, and I will be your conference facilitator today. All participants will be in a listen-only mo ...

Host Hotels & Resorts (NasdaqGS:HST) Q4 2025 Earnings call February 19, 2026 10:00 AM ET Company ParticipantsAri Klein - Managing Director and Equity ResearchCooper Clark - REIT Equity ResearchJaime Marcus - SVP of Investor RelationsJim Risoleo - President and CEOSmedes Rose - Managing DirectorSourav Ghosh - EVP and CFOConference Call ParticipantsChris Darling - Senior Analyst, Head of U.S. Lodging and Gaming ResearchDany Asad - AnalystDavid Katz - Managing Director and Senior Equity AnalystDuane Pfennigwer ...

OR Royalties (NYSE:OR) Q4 2025 Earnings call February 19, 2026 10:00 AM ET Company ParticipantsJason Attew - CEOConference Call ParticipantsBrian MacArthur - AnalystDerek Macpherson - AnalystTanya Jakusconek - AnalystOperatorGood morning, ladies and gentlemen, and welcome to our Osisko Gold RoyaltiesVeuillez prendre note que cet appel est enregistré aujourd'hui, le 19 février 2026, à 10:00 A.M., heure de l'Est. J'aimerais maintenant céder la parole à votre hôte, Monsieur Jason Attew.Jason AttewGood morning, ...

Financial Data and Key Metrics Changes - In Q4 2025, the company achieved adjusted earnings per share of $0.14, compared to $0.15 in Q4 2024 [5][29] - Adjusted EBITDA for Q4 2025 was $37.4 million, down from $40.7 million in Q4 2024 [28] - Daily vessel operating expenses increased by 13% to $5,683 in Q4 2025, compared to $5,047 in Q4 2024 [30] Business Line Data and Key Metrics Changes - The company operated an average of 45 vessels in Q4 2025, earning an average time charter equivalent of $17,050, compared to 45.9 vessels earning $16,521 in Q4 2024 [29] - The company declared a dividend of $0.05 per share, marking the seventeenth consecutive quarterly dividend [23] Market Data and Key Metrics Changes - The dry bulk fleet is projected to grow by about 3% in 2026, with the highest growth in the Panamax and Supermax segments [7] - Global dry bulk demand is forecasted to grow by 2%-3% in 2026, with cargo volumes expected to expand by 1%-2% [13] Company Strategy and Development Direction - The company maintains a balance between spot and time charter exposure to capture market opportunities while preserving cash flow visibility [6] - The company is focusing on fleet renewal with an emphasis on quality tonnage, particularly Japanese-built vessels [12] Management's Comments on Operating Environment and Future Outlook - Management noted increased market volatility in the dry bulk market due to geopolitical reasons, but expressed optimism about the market's recovery [5] - The company highlighted the importance of maintaining a young and technologically advanced fleet to enhance operational performance and regulatory compliance [12] Other Important Information - The company has a strong liquidity position with $382 million in capital resources and a leverage ratio of 34% [23] - The company has a revenue backlog of $178 million, supporting debt service and reinvestment [33] Q&A Session Summary Question: Is there any appetite to renew the Capesize fleet? - Management indicated that second-hand prices are rising, but there is a lack of suitable tonnage available for sale, leading to a focus on newbuilds [36] Question: Have you seen increasing appetite for 2- to 3-year contracts on Kamsarmaxes? - Management noted that there is currently no interest for longer-term contracts, with the market just starting to improve [37][39] Question: Would you favor index-linked exposure or fixed coverage? - Management traditionally prefers fixed rates, especially in a rising market, and noted current rates for one-year deals are around $18,000 to $19,000 per day for Eco Kamsarmaxes [40]

Safe Bulkers (NYSE:SB) Q4 2025 Earnings call February 19, 2026 10:00 AM ET Company ParticipantsCliment Molins - Head of Shipping ResearchKonstantinos Adamopoulos - CFO and TreasurerLoukas Barmparis - President and SecretaryOperatorThank you for standing by, ladies and gentlemen, and welcome to Safe Bulkers conference call for the Q4 2025 financial results. We have with us Mr. Polys Hajioannou, Chairman and Chief Executive Officer, Dr. Loukas Barmparis, President, and Mr. Konstantinos Adamopoulos, Chief Fina ...

Financial Highlights - For the twelve months of 2025, the company achieved a net income of $10.5 million, a significant increase of 481% compared to a net loss of $3 million in 2024 [3][25] - EBITDA for 2025 was reported at $17 million, up 244% from $7 million in 2024 [3][25] - Voyage revenues decreased by 18% to $34.8 million in 2025, primarily due to the dry docking of the Aframax tanker, resulting in 74 non-revenue days [3][21] - Voyage costs for 2025 were $12.8 million, down from $14.1 million in 2024 [22] Business Line Performance - The dry bulk market showed resilience in 2025, with iron ore and coal trade remaining significant, although coal shipments are forecasted to decline further in 2026 [4][6] - The minor bulks category, including bauxite and fertilizers, grew by around 4% in 2025, with expectations of a further 3% increase in 2026 [8] - The global Handysize fleet saw a 2% increase in exports, with the average age of the fleet at 14.9 years [9][10] Market Data - The Aframax sector experienced significant improvements, with spot rates on major trading routes increasing by up to 88.7% [11][12] - The global Aframax fleet consists of 1,198 ships, with 25% over 20 years of age [12] - Changes in trading patterns, particularly increased imports to China and India from the Middle East, have resulted in longer voyages and higher ton-mile demand [14][16] Company Strategy and Industry Competition - The company aims for disciplined growth through selective acquisitions of quality, non-Chinese-built vessels, focusing on short to medium-term charters [28] - The acquisition of two product tankers is expected to increase fleet capacity by 387% from inception [19][32] - The company maintains a high-quality fleet to reduce operating costs and improve safety, with no bank debt [28][29] Management's Comments on Operating Environment and Future Outlook - The company anticipates a bullish outlook for 2026, driven by elevated freight rates, resilient oil demand, and shifting trade patterns [31] - Global seaborne trades are projected to increase, supported by population growth and geopolitical factors [31] - The company has successfully completed the dry docking of its Aframax tanker, enhancing financial flexibility [31] Other Important Information - The company reported a cash balance of $14.9 million at the end of 2025, an increase of 19% from $12.6 million in 2024 [26] - The total paid for acquisitions did not change, with no interest charged on the purchase prices of vessels [29] Q&A Summary Question: What are the expectations for the dry bulk market in 2026? - The dry bulk market is expected to see modest growth in tons but robust growth in ton miles due to longer trade routes and the rising weight of minor bulks [8] Question: How does the company plan to manage its fleet and operations? - The company focuses on maintaining high standards of safety and reliability, with regular inspections and a comprehensive maintenance program for each vessel [28]

Nutrien (NYSE:NTR) Q4 2025 Earnings call February 19, 2026 10:00 AM ET Company ParticipantsBen Isaacson - Managing Director of Equity ResearchChris Reynolds - Executive Vice President and President, Nutrien Ag SolutionsJeff Holzman - SVP of Investor Relations and FP&AJustin Pellegrino - Equity Research AssociateKen Seitz - President and CEOMark Thompson - CFOConference Call ParticipantsAndrew Wong - Equity Research AnalystBen Theurer - Equity Research AnalystChris Parkinson - Managing Director and Senior Re ...

OR Royalties (NYSE:OR) Q4 2025 Earnings call February 19, 2026 10:00 AM ET Company ParticipantsJason Attew - CEOConference Call ParticipantsBrian MacArthur - AnalystDerek Macpherson - AnalystTanya Jakusconek - AnalystOperatorGood morning, ladies and gentlemen, and welcome to our OR Royalties Q4 and year 2025 results conference call. After the presentation, we will conduct a question-and-answer session. If you'd like to ask a question, please press star followed by the number one on your telephone keypad. Pl ...

Blue Owl Capital Corporation (NYSE:OBDC) Q4 2025 Earnings call February 19, 2026 10:00 AM ET Company ParticipantsBrian McKenna - Managing Director of Equity ResearchCraig W. Packer - Co-PresidentFinian O'Shea - Managing DirectorJonathan Lamm - CFO of CreditLogan Nicholson - Managing DirectorMichael Mosticchio - Head of BDC Investor RelationsRobert Dodd - DirectorConference Call ParticipantsArren Cyganovich - Senior AnalystCasey Alexander - Equity Research AnalystJohn Hecht - Managing Director and Equity Res ...