Financial Data and Key Metrics Changes - In 2025, the company achieved dollar-based EPS growth of 6% and a 9.4% increase in constant currency, with underlying EPS reaching $3.73 per share [22][26] - EBITDA increased by 4.9%, with margin expansion of 101 basis points, resulting in a revenue per hectoliter increase of 4.4% and top-line growth of 2% [7][21] - Free cash flow was maintained at $11.3 billion, allowing for increased share buybacks and a proposed final dividend representing a 15% increase year-over-year [23][24] Business Line Data and Key Metrics Changes - The Mega Brands and premium portfolio grew ahead of the overall business, with Beyond Beer and non-alcohol beer portfolios increasing revenue by 23% and 34%, respectively [6][15] - The BEES Marketplace GMV increased by 61% to reach $3.5 billion, indicating strong growth in the digital marketplace segment [6][17] Market Data and Key Metrics Changes - Revenue increased in 65% of the company's markets, with notable performance in the U.S., Mexico, and Colombia, while China experienced a low teens revenue decline [8][9][11] - In the U.S., the company gained market share in both beer and spirits, with significant growth from brands like Michelob ULTRA and Cutwater [9][10] Company Strategy and Development Direction - The company continues to focus on premiumization, innovation, and expanding its digital ecosystem, with a strong emphasis on the growth of Beyond Beer and non-alcohol segments [12][15][19] - The company aims to leverage its diversified geographic footprint to capture future industry growth, particularly in emerging markets where 70% of EBITDA is generated [8][12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the prospects for 2026, citing improved momentum in key markets and the upcoming FIFA World Cup as significant opportunities for growth [26][33] - The company remains committed to its long-term strategy, focusing on disciplined revenue management and brand investment despite challenges faced in 2025 [5][26] Other Important Information - The company invested $7.4 billion in sales and marketing in 2025, with a focus on enhancing brand power and market presence [12][13] - The company has a strong innovation pipeline, with new product launches and expansions planned for both the Beyond Beer and non-alcohol segments [15][16] Q&A Session Questions and Answers Question: Insights on the role of beer in consumer culture - Management emphasized that beer brings people together and creates moments of celebration, highlighting the importance of moderate consumption [30][31] Question: Optimism for 2026 and strategy execution - Management noted that the positive outlook for 2026 is due to consistent application of strategy and early signs of market recovery [32][33] Question: Turnaround strategies in the U.S. market - Management discussed the importance of consistency and long-term investment in the U.S. market, with a focus on portfolio rebalancing and brand innovation [38][39] Question: Progress in China and market dynamics - Management acknowledged challenges in China but noted improvements in market share and execution, particularly in the off-trade channel [43][46] Question: Competitive dynamics in Brazil - Management highlighted the return to growth in Brazil, attributing it to improved weather conditions and effective brand execution [47][48] Question: Margin outlook for 2026 - Management indicated that there are opportunities for further margin expansion, driven by premium brands and operational efficiency [52][56] Question: Beyond Beer business potential - Management expressed confidence in the growth potential of the Beyond Beer segment, with significant headroom for expansion in the U.S. market [60][61] Question: CapEx sustainability and efficiency - Management reassured that the current level of CapEx is sustainable, supported by technology and efficiency improvements [68][69]

Anterix (NasdaqCM:ATEX) Q3 2026 Earnings call February 12, 2026 09:00 AM ET Speaker5Good day, and thank you for standing by. Welcome to the Anterix third quarter fiscal 2026 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 this session, you will need to press star one one on your telephone. You will then hear an automated message advising you your hand is raised. To with ...

Fourth Quarter and Full-Year 2025 Earnings Presentation February 12, 2026 MSA Safety | Fourth Quarter and Full-Year 2025 Earnings Presentation 1 Larry De Maria Introduction Purpose-led Company Driven by Our Mission: That men and women may work in safety and that they, their families, and their communities may live in health throughout the world. MSA Safety | Fourth Quarter and Full-Year 2025 Earnings Presentation 3 Non-GAAP Financials To supplement our Consolidated Financial Statements presented in accordan ...

Fourth Quarter and Full Year 2025 Earnings Call John Plant: Executive Chairman and Chief Executive Officer Patrick Winterlich: EVP and Chief Financial Officer February 12, 2026 Important Information Forward–Looking Statements This presentation contains statements that relate to future events and expectations and as such constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those containing such words as "anticipat ...

FOURTH QUARTER & FULL YEAR 2025 FINANCIAL RESULTS February 12, 2026 FORWARD-LOOKING STATEMENTS – DISCLAIMER This presentation contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical statements of fact and those regarding the Company's intent, belief, or expectations. Words such as "anticipate(s)," "expect(s)," "intend(s)," "believe(s)," "plan(s)," "may," "will," "would," "could," "should," "seek(s)," and ...

Financial Data and Key Metrics Changes - FBRT reported GAAP net income of $18.4 million, or $0.13 per fully converted common share, with distributable earnings of $17.9 million, or $0.12 per fully converted share [14] - Distributable earnings included $9.8 million of realized losses, with $7.7 million related to debt extinguishments and the balance from REO sales [14][15] - Book value per share ended the quarter at $14.15, reflecting the dividend outpacing earnings [17] Business Line Data and Key Metrics Changes - The core portfolio finished Q4 at approximately $4.4 billion, with 77% of loans backed by multifamily assets [21] - During Q4, the company originated 37 loans at a weighted average spread of 284 basis points, with multifamily representing 76% of new loan originations [21] - Agency volume reached $1.1 billion in new loan originations for the quarter, with expectations of $4.5 billion to $5.5 billion in 2026 [18] Market Data and Key Metrics Changes - Market conditions are improving, with abundant liquidity and tight spreads, the tightest seen since pre-GFC days [12] - Regional banks are slowly returning to the market, particularly in the multifamily space, but the company is cautious about chasing current market spreads [12] Company Strategy and Development Direction - The company has transitioned to a commercial real estate investment platform, moving away from being a pure play mortgage REIT, which is expected to provide more earning stability and stronger long-term book value growth [9][11] - The focus is on balancing attractive current income with disciplined book value growth, aiming for sustainable dividend coverage and book value growth [11] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that the earnings potential remains strong, with expectations to return to $0.35-$0.36 per share in the future, despite current challenges [30] - The company is navigating a significantly better market than two years ago, but the timing of asset sales and borrower behavior has delayed progress [31][62] Other Important Information - The company has reauthorized a share repurchase program with $50 million available for future repurchases through December 31, 2026 [17] - NewPoint's integration is progressing, with expectations for its distributable earnings contribution to operate at a run rate of approximately $25 million to $33 million per year [18] Q&A Session Summary Question: How should we think about capital allocation this quarter? - The company is focused on origination and has a $1.7 billion under application pipeline, adjusting the mix of origination to avoid chasing tight spreads [28] Question: Should we expect the dividend reset to be a good baseline for run rate earnings going forward? - The company expects to grow earnings over the next several quarters, aiming for a core book size between $4.8 billion and $5 billion by year-end [30] Question: Will there be a percentage of capital in direct real estate investments going forward? - The company has made several equity investments and expects to allocate a slightly higher percentage of capital to equity investments over the next few years, but will remain primarily a debt-focused entity [38] Question: How is the agency business with NewPoint progressing? - The agency business is highly sensitive to interest rates, with expectations for significant volume increases if rates decrease [57]

Sendas Distribuidora (NYSE:ASAI) Q4 2025 Earnings call February 12, 2026 09:00 AM ET Speaker1Hi, everyone. Good morning, ladies and gentlemen. Thank you for participating in our earnings call for the fourth quarter and the year of 2025. Now we're going to be presenting the executives that are present here. We have Belmiro Gomes, our CEO, Aymar Giglio Jr., our CFO, Anderson Castilho, our Operations Director, Wlamir dos Anjos, and Sandra Vicari, our Human Resources and Sustainability Director. Now I'll pass t ...

Q4 2025 EARNINGS PRESENTATION FEBRUARY 12, 2026 1 LEGAL DISCLAIMERS 2 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This presentation contains, and management may make on our call today, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "conti ...

Investor Presentation and Supplemental Information Fourth Quarter 2025 Disclaimer This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements can be identified by the use of words such as "expect," "plan," "will," "estimate," "project," "intend," "believe," "guidance," and other similar expressions that do not relate to historical matters. These forward-looking statements ...

Watts Water Technologies (NYSE:WTS) Q4 2025 Earnings call February 12, 2026 09:00 AM ET Speaker9Welcome to Watts Water Technologies, Inc. fourth quarter and full year 2025 earnings call. At the end of the presentation, we will open the line for questions. I will now turn the call over to Diane McClintock, Chief Financial Officer. Please go ahead.Speaker3Thank you, and good morning, everyone. Joining me today is Bob Pagano, President and CEO. Before we begin, I'd like to remind everyone that during this call ...