Financial Data and Key Metrics Changes - The company reported a revenue growth of 6.9% year over year, reaching $608 million, with organic growth of 6% excluding foreign exchange and M&A impacts [22][27] - Adjusted operating margin was 36.2%, and adjusted diluted EPS increased by 3% year on year to $4.51 [4][22] - Organic ASV growth accelerated to 5.9%, an increase of $6.6 million, driven by strong demand in trading, workstations, and market data [18][22] Business Line Data and Key Metrics Changes - In the Americas, organic ASV grew 6%, primarily driven by asset managers and wealth [18] - EMEA saw a 4% organic ASV growth, with improved retention and expansion in performance solutions [18] - Asia-Pacific experienced an 8% organic ASV growth, up from 7% last quarter, driven by middle office solutions and AI-ready data [19] - Wealth management delivered a 10% organic ASV growth, with significant wins in workstations and analytics [20] Market Data and Key Metrics Changes - Client count grew to over 9,000, a 9% increase year over year, with retention rates at 91% for clients and above 95% for ASV [22] - The user base approached 240,000, with wealth and asset managers leading user growth, up 10% versus the prior year [22] Company Strategy and Development Direction - The company is increasing its share repurchase authorization from $400 million to $1 billion, reflecting confidence in its balance sheet and long-term growth potential [5][26] - Three strategic priorities include driving commercial excellence, improving productivity, and solidifying long-term strategy for sustainable growth [12][17] - The company is focused on enhancing its data offerings and integrating AI capabilities to maintain competitive differentiation [10][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the pipeline and client demand, indicating a positive sentiment in the market [46][48] - The company is maintaining a prudent approach to guidance, reaffirming previously issued FY26 guidance across all metrics [27][56] - There is an expectation of continued growth in AI product adoption, with a reported sequential growth of over 45% in AI products launched earlier this year [12][51] Other Important Information - Operating expenses increased by 9% year over year, driven by higher people-related expenses and technology costs [23][24] - The company is allocating roughly two-thirds of its investments to growth initiatives and one-third to internal infrastructure [24][25] Q&A Session Summary Question: Competitive positioning versus AI startups and Big Four data incumbents - Management emphasized confidence in proprietary assets and the ability to partner with the AI ecosystem, viewing distribution through various channels as complementary [29][30] Question: Changes in sales incentives and early results - Management highlighted alignment of sales incentives with desired outcomes, leading to faster sales motions and a richer pipeline [33][34] Question: AI's impact on customer hiring and desktop business - Management noted no significant reductions in headcount, with increased hiring observed in banking and strong demand for AI products [37][39] Question: Margin impact from investments - Management discussed the balance between structural investments for operating leverage and growth investments aligned with client demand [52][54] Question: Organic ASV growth expectations - Management expressed confidence in the pipeline but maintained a conservative approach to guidance, acknowledging the need for prudent execution [55][56] Question: Proprietary versus non-proprietary products - Management provided insights into the classification of proprietary data and the importance of proprietary methodologies in delivering high-quality outputs [57][59]

Darden Restaurants (NYSE:DRI) Q2 2026 Earnings Call December 18, 2025 08:30 AM ET Company ParticipantsJeff Farmer - Managing DirectorPeter Saleh - Managing DirectorGregory Francfort - Managing DirectorChris O'Cull - Managing DirectorAndrew Charles - Managing DirectorJohn Ivankoe - Managing DirectorRick Cardenas - CEOJim Sanderson - Managing DirectorRaj Vennam - CFODennis Geiger - Executive DirectorBrian Vaccaro - Managing DirectorJacob Aiken-Phillips - VP Equity ResearchAndy Barish - Managing DirectorCourtn ...

Worthington Steel (NYSE:WS) Q2 2026 Earnings Call December 18, 2025 08:30 AM ET Company ParticipantsJohn Tumazos - PrincipalTim Adams - VP and CFOMelissa Dykstra - VP of Corporate Communications and Investor RelationsGeoff Gilmore - President and CEOConference Call ParticipantsPhil Gibbs - Managing Director and Metals Equity Research AnalystMartin Englert - Senior Equity Research AnalystOperatorGood morning and welcome to Worthington Steel's Second Quarter Fiscal Year 2026 Earnings Call. All lines have been ...

Financial Data and Key Metrics Changes - Enerpac's first quarter revenue for Fiscal 2026 was $144 million, a decrease of 1% year-over-year [5] - Adjusted EBITDA was $32.4 million, representing a margin of 22.4%, while adjusted earnings per share was $0.36 compared to $0.40 in the previous year [8][10] - Gross profit margin was 50.7%, consistent with previous quarters, but impacted by higher tariff-driven costs [7][8] - Free cash flow increased to $13 million, up $10 million year-over-year, attributed to timing of receipts and payments [9] Business Line Data and Key Metrics Changes - In the Industrial Tools and Services (IT&S) segment, product sales grew 4% organically, while IT&S sales declined 3% [3][5] - Standard products saw low single-digit growth, and heavy-lifting technology (HLT) business experienced double-digit growth [5] - Service revenue declined by 26%, primarily in the EMEA region, particularly the U.K. [5][6] Market Data and Key Metrics Changes - Revenue in the Americas grew by 5%, with product revenue expanding by 8% [6] - EMEA revenue declined by 10%, but product revenue in the region grew by 5% [6] - APAC revenue decreased by 8%, affected by a decline in the HLT business and political uncertainties in Southeast Asia [7] Company Strategy and Development Direction - The company is focused on investing in growth strategies, including increasing spending on innovation and expanding sales capabilities in key markets [11][12] - Enerpac aims to capitalize on growth opportunities in power generation and infrastructure, with significant contract wins in bridge and tunnel projects [14][15] - The company is enhancing its e-commerce capabilities and implementing a new technology platform to improve user experience and marketing tools [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the outlook for the year, supported by strong order growth across all geographic regions [11] - The company maintains its full-year guidance, expecting organic revenue growth of 1%-4% and adjusted EBITDA growth of 6% at the midpoint [10] - Management acknowledged challenges in the service business due to market conditions in the U.K. but remains optimistic about future growth and margin expansion [22][23] Other Important Information - The company announced a change in the investor relations team, with Travis Williams leaving and Darren Kozik becoming the main point of contact for investors [16][17] - Enerpac's balance sheet remains strong, with net debt at $49 million and total liquidity of $539 million [9] Q&A Session Summary Question: What caused the sharp decline in service revenue this quarter? - Management indicated disappointment in service revenue performance, primarily due to a contraction in the U.K. market and ongoing initiatives to capture higher-margin business [21][22] Question: Can you elaborate on changes in services to capture higher value business? - Management discussed transitioning from an agent-based model to a direct model to enhance customer relationships and capture more margin [25][26] Question: What is the pricing strategy heading into 2026? - A small, low single-digit price increase was implemented in December, with ongoing efforts to offset tariff impacts and maintain margins [27][51] Question: Can you provide insights on the 2026 organic growth guidance? - Management highlighted an ambitious innovation program with plans for more new product launches compared to the previous fiscal year [33][34] Question: What is the current status of the M&A funnel? - Management noted an increase in M&A activity and expressed optimism about evaluating several opportunities while maintaining a disciplined approach [60]

Financial Data and Key Metrics Changes - Enerpac's first quarter revenue for Fiscal 2026 was $144 million, a decrease of 1% year-over-year [5] - Adjusted EBITDA was $32.4 million, representing a margin of 22.4%, while adjusted earnings per share was $0.36 compared to $0.40 in the previous year [8][10] - Gross profit margin was 50.7%, consistent with previous quarters, but impacted by higher tariff-driven costs [7] Business Line Data and Key Metrics Changes - In the Industrial Tools and Services (IT&S) segment, product sales grew 4% organically, while IT&S sales declined 3% [3][5] - Standard products saw low single-digit growth, and heavy-lifting technology business experienced double-digit growth year-over-year [5] - Service revenue declined by 26%, primarily in the EMEA region, particularly the U.K. [5][6] Market Data and Key Metrics Changes - Revenue in the Americas grew by 5%, driven by an 8% increase in product revenue [6] - EMEA region revenue declined by 10%, with product revenue growing by 5% but service revenue declining significantly [6] - APAC revenue decreased by 8%, affected by a decline in heavy-lifting technology business and political uncertainties in Southeast Asia [7] Company Strategy and Development Direction - The company is focused on investing in innovation and expanding sales capabilities in markets like India, Australia, and the Philippines [12][14] - Enerpac aims to capitalize on growth opportunities in power generation and infrastructure, with significant contract wins in bridge and tunnel projects [15] - The company is also enhancing its e-commerce capabilities to improve user experience and marketing tools [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the outlook for the year, citing strong order growth across all geographic regions [11] - The company is maintaining its full-year fiscal 2026 guidance, expecting organic revenue growth of 1%-4% and adjusted EBITDA growth of 6% at the midpoint [10] - Management acknowledged challenges in the service business but remains optimistic about future growth and margin expansion [22] Other Important Information - The company reported a net debt of $49 million, resulting in a net debt-to-Adjusted EBITDA ratio of 0.3, indicating a strong balance sheet [9] - Total liquidity was $539 million, and free cash flow increased to $13 million, up $10 million year-over-year [9] Q&A Session Summary Question: What caused the sharp decline in service revenue this quarter? - Management noted that the decline was largely driven by a contraction in the U.K. market, with ongoing initiatives to capture higher-margin service business [21][22] Question: Can you elaborate on changes being made in services to capture higher value business? - Management discussed transitioning from an agent-based model to a direct model to enhance customer relationships and margins [25][26] Question: What is the pricing strategy heading into calendar year 2026? - A small, low single-digit price increase was implemented in early December, with ongoing efforts to maintain margins [27] Question: Can you provide insights on the 2026 organic guidance and new product contributions? - Management highlighted an ambitious innovation program with plans to launch more new products than in the previous fiscal year [33][34] Question: How is the backlog compared to a normalized basis? - Management indicated that the backlog has increased due to strong order activity, providing confidence in the outlook for the year [43]

Financial Data and Key Metrics Changes - Net sales for the second quarter were $871.9 million, with adjusted EBITDA at $48.3 million and adjusted earnings per share at $0.38, reflecting a solid performance despite market headwinds [4][15] - Adjusted EBIT increased to $26.6 million, up from $14.3 million year-over-year, driven by higher direct volumes and improved direct spreads [15][16] - Earnings for the quarter were reported at $18.8 million or $0.37 per share, compared to $12.8 million or $0.25 per share in the prior year quarter [15][16] Business Line Data and Key Metrics Changes - Direct sales volume made up 65% of the mix in the current quarter, up from 55% in the prior year quarter, with direct volumes increasing by 13% year-over-year [16] - Automotive shipments increased by 26% year-over-year, reflecting market share gains and a return to normal production levels at a key OEM [16][17] - Energy shipments rose by 50% year-over-year, driven by project-based solar programs, while agriculture volume increased by 1% [17] Market Data and Key Metrics Changes - North American light vehicle output is expected to hold near 15.2 million units in calendar year 2025, essentially flat with 2024 [5] - The construction market remains stable but subdued, with pockets of strength in power and infrastructure [6] - The heavy truck and trailer market is expected to see a rebound beginning in late calendar year 2026 [6] Company Strategy and Development Direction - The company is focused on long-term strategies, including electrical steel growth plans, new product development, and business optimization through transformation [7][9] - Expansion projects for electrical steel are on track, with initial production in Mexico expected in the first quarter of calendar year 2026 [7][8] - The integration of CDEM is progressing well, enhancing the company's capabilities in stamping electrical steel laminations and improving competitiveness [9] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for early 2026, anticipating improvements as interest rates ease and policy uncertainties subside [6][14] - The company is well-positioned to navigate uncertainty and act decisively when opportunities arise, maintaining a strong balance sheet and generating consistent cash flow [21][22] - Management highlighted the importance of transformation and artificial intelligence in driving operational efficiency and cost savings [10][50] Other Important Information - The company received recognition as a 2025 Supplier of the Year by Schaeffler Group USA and was named a Military Friendly Employer for the 11th consecutive year [11][12] - The 2025 Corporate Citizenship and Sustainability Report was released, showcasing progress in safety, emissions reduction, and community support [12] Q&A Session Summary Question: What is the nature of the SG&A increase? - The increase in SG&A was primarily due to higher compensation and benefits, with professional fees related to strategic projects being more one-time in nature [26][27] Question: What contributed to the automotive momentum? - The automotive momentum was largely due to market share gains from new programs reaching expected volumes, rather than solely from the cold-rolled strip segment [33][34] Question: What is the impact of compressed galvanized spreads? - Decreased demand, particularly in construction, has contributed to compressed galvanized spreads, but management expects margin expansion moving forward [45][46] Question: What are the top transformation initiatives for calendar year 2026? - Key initiatives include focusing on back-office transformation and leveraging artificial intelligence to drive operational efficiencies [49][50]

Financial Data and Key Metrics Changes - Net sales for the second quarter were $871.9 million, with adjusted EBITDA at $48.3 million and adjusted earnings per share at $0.38, reflecting a solid performance despite market headwinds [4][17] - Adjusted EBIT increased to $26.6 million, up $12.3 million from the prior year quarter, driven by higher direct volumes and improved direct spreads [18] - Earnings for the quarter were reported at $18.8 million or $0.37 per share, compared to $12.8 million or $0.25 per share in the prior year quarter [17] Business Line Data and Key Metrics Changes - Direct sales volume increased by 13% year over year, making up 65% of the sales mix, compared to 55% in the prior year [18] - Automotive shipments increased by 26% year over year, reflecting market share gains and a return to normal production levels at an OEM customer [19] - Energy shipments rose by 50% year over year, driven by project-based solar programs, while agriculture volume was up 1% [19] Market Data and Key Metrics Changes - North American light vehicle output is expected to hold near 15.2 million units in calendar year 2025, essentially flat with 2024 [5] - The construction market remains stable but subdued, with pockets of strength in power and infrastructure [6] - The heavy truck and trailer market is expected to see a rebound beginning in late calendar year 2026 [6] Company Strategy and Development Direction - The company is focused on long-term strategies, including electrical steel growth plans, new growth opportunities through CapEx and acquisitions, and continuous improvement through transformation [7][10] - Expansion projects for electrical steel are on track, with initial production in Mexico expected in the first quarter of calendar year 2026 [8] - The integration of CDEM is progressing well, enhancing competitiveness in advanced mobility and industrial markets [10] Management's Comments on Operating Environment and Future Outlook - The management expressed cautious optimism for early 2026 and a positive outlook for the second half of the calendar year, despite a mixed macroeconomic environment [6][15] - The company anticipates improvements in market conditions as interest rates ease and policy uncertainties subside [6] - Management highlighted the importance of transformation and AI integration in improving operational efficiency and financial discipline [11][12] Other Important Information - The company reported cash flow from operations of $99 million and free cash flow of $75 million for the quarter [23] - A quarterly dividend of $0.16 per share was announced, payable on March 27, 2026 [23] - Worthington Steel was recognized as a 2025 Supplier of the Year by Schaeffler Group USA and received the Military Friendly Employer Gold designation for the 11th consecutive year [12][13] Q&A Session Summary Question: What is the nature of the SG&A increase? - The increase in SG&A was primarily due to higher compensation and benefits, as well as professional fees related to strategic projects [28][34] Question: What contributed to the automotive momentum? - The automotive momentum was largely due to market share gains from new programs reaching expected volumes, rather than solely from the cold-rolled strip business [36] Question: What is the impact of decreased demand on galvanized spreads? - Decreased demand, particularly in construction, has created competitive rivalry, but management expects margin expansion going forward [48] Question: What are the top transformation initiatives for 2026? - Key initiatives include back office transformation and leveraging AI for operational improvements [52][53]

Darden Restaurants (NYSE:DRI) Q2 2026 Earnings Call December 18, 2025 08:30 AM ET Speaker6Greetings and welcome to the Darden Restaurants Q2 FY26 earnings conference call and webcast. At this time, all participants are in listen-only mode. A question-and-answer session will follow the formal presentation. You may be placed into the question queue at any time by pressing star 1 on your telephone keypad, and we ask that you please ask one question, one follow-up, and return to the queue. If anyone should requ ...

Financial Data and Key Metrics Changes - Enerpac's Q1 Fiscal 2026 revenue was $144 million, a decrease of 1% year-over-year [6] - Adjusted EBITDA was $32.4 million, representing a margin of 22.4%, with adjusted earnings per share at $0.36 compared to $0.40 in the previous year [9][10] - Gross profit margin was 50.7%, consistent with previous quarters, but impacted by higher tariff-driven costs [8][9] Business Line Data and Key Metrics Changes - In the Industrial Tools and Services (IT&S) segment, product sales grew 4% organically, while IT&S sales declined 3% [4][6] - Standard product revenue increased by low single digits, with heavy-lifting technology business experiencing double-digit growth [6] - Service revenue declined by 26%, primarily in the EMEA region, particularly the U.K. [6][7] Market Data and Key Metrics Changes - Revenue in the Americas grew by 5%, driven by an 8% increase in product revenue [7] - EMEA revenue declined by 10%, with product revenue growing 5% but service revenue declining significantly [7][8] - APAC revenue decreased by 8%, affected by a decline in heavy-lifting technology business and political uncertainties in Southeast Asia [8] Company Strategy and Development Direction - The company is focused on growth through investments in innovation and expanding sales capabilities in key markets like India and Australia [12][13] - Enerpac is enhancing its e-commerce capabilities and implementing a new technology platform to improve user experience and marketing tools [13] - The company is targeting growth in power generation and infrastructure sectors, with significant contract wins in bridge and tunnel projects [14][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the outlook for the year, supported by strong order growth across all geographic regions [12] - The company anticipates organic revenue growth of 1%-4% and adjusted EBITDA growth of 6% at the midpoint for Fiscal 2026 [11] - Management acknowledged challenges in the service business but remains optimistic about future growth and margin expansion [22][24] Other Important Information - The company reported a strong balance sheet with net debt of $49 million and total liquidity of $539 million [10] - Enerpac repurchased $15 million of stock in the first quarter while maintaining capacity for strategic M&A [10][57] - A leadership change in investor relations was announced, with the current CFO becoming the main point of contact until a replacement is found [17] Q&A Session Summary Question: What caused the sharp decline in service revenue this quarter? - Management noted disappointment in service revenue performance, primarily due to market contraction in the U.K. and ongoing consolidation in the oil and gas sector [22][24] Question: Can you elaborate on changes being made in services to capture higher value business? - Management discussed transitioning from an agent-based model to a direct model to enhance customer relationships and margins, along with investments in field service capabilities [26][27] Question: What is the pricing strategy heading into 2026? - A small, low single-digit price increase was implemented in December, with ongoing efforts to offset tariff impacts and maintain margins [28][47] Question: How does the backlog look compared to a normalized basis? - Management indicated that while Enerpac is not a backlog-heavy business, there has been an uptick in backlog driven by strong order activity [40] Question: What is the outlook for M&A activity? - Management expressed optimism about increased M&A activity and is actively evaluating several opportunities while maintaining a disciplined approach [57]

Accenture (NYSE:ACN) Q1 2026 Earnings Call December 18, 2025 08:00 AM ET Company ParticipantsJulie Sweet - Chair and CEOAlexia Quadrani - Executive Director and Head of Investor RelationsAngie Park - CFOConference Call ParticipantsDavid Koning - Senior Equity Research AnalystDarrin Peller - Senior Equity Research AnalystJason Kupferberg - Equity Research AnalystJames Faucette - Equity Research AnalystBryan Keane - Managing Director and Senior Equity Research AnalystTien-tsin Huang - Senior Equity Research A ...