The Walt Disney Company (NYSE:DIS) FY Conference November 19, 2025 11:00 AM ET Company ParticipantsHugh Johnston - CFOConference Call ParticipantsSteven Cahall - Media and Cable AnalystSteven CahallThank you, and good morning, everyone. I'm Steven Cahall, media and cable analyst at our Wells Fargo TMT Summit, and we're fortunate to be joined by Hugh Johnston, The Walt Disney Company's Chief Financial Officer. Hugh, thank you for joining us.Hugh JohnstonHappy to be here.Steven CahallThere's a lot of debates ...

TJX Companies (NYSE:TJX) Q3 2026 Earnings Call November 19, 2025 11:00 AM ET Speaker3Ladies and gentlemen, thank you for standing by. Welcome to the TJX Companies Third Quarter Fiscal 2026 Financial Results Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. At that time, if you have a question, you will need to press star one. As a reminder, this conference call is being recorded, November 19th, 2025. I would now like to turn the ...

Financial Data and Key Metrics Changes - In Q4 2025, the company achieved a gross profit dollar growth of 16% and revenue growth of 8% compared to Q4 2024, generating $61 million in operating cash flow [4][15] - The quarterly gross profit margin reached a record of 31.4%, which was 215 basis points higher than the prior year [4][18] - For the full year 2025, revenues increased by 9% to $1.1 billion, with net income rising to $180.7 million, or $14.86 per diluted share, compared to $149.8 million, or $12.29 per diluted share in the prior year [20][23] Business Line Data and Key Metrics Changes - The electric utility sector saw a doubling of revenue compared to the same period last year, while the light rail traction sector increased by 85% [17][19] - The petrochemical sector experienced a decline of 25%, and the oil and gas sector decreased by 10% due to challenging comparisons from large industrial project orders booked in fiscal 2023 [17][19] - The company booked $271 million in new orders in Q4 2025, a 1% increase year-over-year, with a total of $1.2 billion in new orders for the full year, up 9% from fiscal 2024 [6][21] Market Data and Key Metrics Changes - Domestic revenues increased by 2% to $239 million, while international revenues surged by 38% to $68 million [17] - The backlog at the end of fiscal 2025 was $1.4 billion, with electric utility and oil and gas sectors each comprising one-third of the total backlog [16][24] - Approximately 60% of the backlog is expected to be convertible in 2026 [68] Company Strategy and Development Direction - The company is focusing on expanding its presence in the electric utility and commercial sectors, which accounted for 41% of revenue in fiscal 2025 [5] - A $12.4 million investment to expand capacity at the JacintoPort facility is aimed at supporting anticipated LNG project development over the next three to five years [8][9] - The acquisition of REMSDAC is expected to enhance the company's electrical automation strategy and product offerings [10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the commercial environment for all end markets, expecting continued momentum into fiscal 2026 [11][12] - The fundamentals in the oil and gas market support expectations for continued order strength, particularly in the LNG sector [11] - The company anticipates another strong year of activity in 2026, driven by investments in electrical infrastructure [12][25] Other Important Information - The company holds zero debt and ended fiscal 2025 with cash, cash equivalents, and short-term investments of $476 million, reflecting strong commercial activity [24] - Research and development spending increased by 17% to $11 million, focusing on new product design and development [23] Q&A Session Summary Question: Changes in Competitive Landscape or Pricing Environment - Management noted that the oil and gas market remains healthy, but some regions are softer and more price-sensitive, while the electric utility market is more demand-driven [29][30] Question: Seasonality and First Quarter Outlook - The first quarter is expected to be seasonally softer due to holidays, but overall optimism for the year remains high [31] Question: SG&A Expenses and One-Time M&A Costs - SG&A expenses increased by $5 million year-over-year, with $3 million attributed to compensation and nearly $2 million to acquisition-related costs [32][33] Question: Trends in Commercial and Industrial (C&I) Sector - Management indicated that the decline in the C&I sector was largely due to timing, with significant growth opportunities in data centers [38] Question: Sustainability of Growth in Electric Utility Sector - The company is optimistic about the sustainability of growth in the electric utility sector, with equal weighting in backlog between oil and gas and utility sectors [40] Question: R&D Spending and Commercialization Timeline - R&D spending is expected to remain at current levels, with some products anticipated to hit the market in 2026 [65][66] Question: Capacity Expansion and CapEx Budget for 2026 - The CapEx budget for 2026 includes the $12.4 million for JacintoPort expansion and an additional $5-$7 million for maintenance and productivity projects [67] Question: Data Center Revenue as a Percentage of Backlog - Data center revenue is approximately 15% of the backlog, with half of that being attributed to data centers, which is an increase from the previous year [70]

Rockwell Automation (NYSE:ROK) 2025 Investor Day November 19, 2025 11:00 AM ET Speaker7Welcome to Rockwell Automation Investor Day. Our program will begin shortly. Please find your way to your seat. We ask that you silence your phones and devices for the duration of the program. Welcome to Rockwell Automation Investor Day 2025. Please give a round of applause for your event emcee, Aijana Zellner, Vice President, Investor Relations and Market Strategy.Speaker6Welcome, everyone, and thank you for joining us f ...

Flywire FY Conference Summary Company Overview - **Company**: Flywire (NasdaqGS:FLYW) - **Industry**: Payments and Fintech - **Key Verticals**: Education, Healthcare, Travel, B2B Core Insights and Arguments 1. **Strategic Transformation**: Flywire has evolved from a cross-border, education-focused business to a unified platform integrating software and payments, with significant diversification into travel, healthcare, and B2B sectors [2][3][4] 2. **Profitability and Scale**: The company has achieved nearly 20% margins, with expectations to exceed this in the coming year, indicating improved profitability and operational efficiency [4][11] 3. **Software as a Differentiator**: Flywire emphasizes that its software capabilities are foundational to its competitive edge, allowing deeper integration into clients' systems and enhancing long-term relationships [5][7][8] 4. **Operational Leverage**: The company has seen operational leverage gains, particularly in go-to-market strategies and product engineering, leading to improved margins as revenue scales [9][10][11] 5. **Market Dynamics**: The UK has overtaken the US as Flywire's largest market, contributing approximately 25% of revenue, with the US at 23%. The company is also expanding into continental Europe and Asia [12][14][18] 6. **Growth in Education Vertical**: Despite challenges in the US market, Flywire's education segment continues to grow, with non-big four markets growing faster than the company average [21][29][30] 7. **Domestic Business Expansion**: The domestic business in the US is growing rapidly, with a revenue of approximately $30 million last year, driven by modernization and vendor consolidation in universities [49][55] 8. **Student Financial Services (SFS)**: The SFS platform is a significant growth driver, offering schools a consolidated vendor solution that enhances economic efficiency and client stickiness [60][70][72] 9. **Travel Segment Growth**: Travel now represents a quarter of Flywire's revenue, with significant growth attributed to effective sales strategies and product resonance in the luxury travel market [85][91][101] 10. **B2B and Healthcare Verticals**: B2B is still small but growing rapidly at nearly 70%, while healthcare is expected to ramp up significantly with major clients like Cleveland Clinic [113][118][120] Additional Important Insights 1. **M&A Strategy**: Flywire's M&A strategy focuses on acquiring software companies to monetize payments, which has proven effective in driving growth [4][115] 2. **Market Challenges**: The company faces macroeconomic headwinds, particularly in Canada and the US, but maintains a positive outlook for growth in other regions [30][36][42] 3. **Future Outlook**: Flywire anticipates continued margin expansion and revenue growth, with a focus on maintaining operational efficiency and client retention [128][136] 4. **Stablecoin Partnership**: The partnership with BVNK for stablecoin transactions is seen as an incremental opportunity to expand into new markets and offer clients more payment options [144][150] This summary encapsulates the key points discussed during the Flywire FY Conference, highlighting the company's strategic direction, market performance, and future growth opportunities.

Financial Data and Key Metrics Changes - The company reported a net income of $18.5 million and an adjusted net income of $32.4 million, translating to an adjusted income per share of $0.16 [4] - Adjusted EBITDA for the quarter was $87 million [4] - Total cash reached $454 million, while total debt stood at $1.028 billion, with additional liquidity of $115 million from undrawn revolver facilities, resulting in pro forma liquidity exceeding $570 million [4] - The company declared a dividend of $0.11 per share for the quarter, payable on December 18, 2025 [4] Business Line Data and Key Metrics Changes - The time-charter equivalent (TCE) rate was $16,634 per vessel per day, with combined daily operating expenses (OPEX) and net cash general and administrative expenses per vessel at $6,421, resulting in a TCE less OPEX and CAS G&A of approximately $10,213 per vessel per day [5] - Operating expenses for Q3 2025 were reported at $5,096 per vessel per day, with net cash G&A expenses at $1,325 per vessel per day [9] Market Data and Key Metrics Changes - Total dry bulk trade volumes increased by 5.1% year over year during Q3, supported by strong iron ore, grain, and minor bulk exports [18] - Chinese dry bulk imports recovered, increasing by 4.4% year over year during Q3 after a contraction in the first half [19] - The fleet is aging, with approximately 50% expected to be over 15 years old by the end of 2027, and effective capacity is projected to reduce by about 0.5% per annum during 2026 and 2027 [17] Company Strategy and Development Direction - The company is focused on fleet renewal and energy efficiency, with ongoing investments in newbuilding vessels and technology upgrades [13][10] - The strategy includes opportunistic disposals of non-eco vessels to improve fleet efficiency and reduce average fleet age [11] - The company aims to actively manage its diverse scrubber-fitted fleet to capitalize on market opportunities and deliver shareholder value [23] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the medium to long-term outlook for the dry bulk market, supported by favorable supply dynamics and stricter environmental regulations [23] - The company noted that global port congestion has eased and is expected to follow seasonal trends, having a relatively neutral impact on effective supply growth [17] - The IMF forecasts global GDP growth at 3.1%, slightly below 2025 levels, while Chinese GDP is projected to slow to 4.2% [19] Other Important Information - The company has completed 51 energy-saving device installations, with plans for nine more in 2025 [10] - The company has been active in the market, securing $130 million in debt for newbuilding vessels and planning for additional financing [10] Q&A Session Summary Question: Expectations around total net change in debt in 2026 - Management clarified that amortization will remain around $50 million per quarter, with new facilities having a 17-year amortization profile [28] Question: Dividend policy and minimum cash balance per vessel - The dividend policy is based on the current fleet size, and the company maintains a cash balance significantly above the required level [31][33] Question: Strong rate performance in sub-cape segments - Management attributed the strong performance to spillover effects from larger vessels and improved demand fundamentals in the grain and coal markets [34] Question: Fleet composition and newbuilding strategy - The company is focusing on Kamsarmax vessels due to their cost-effectiveness and the need to renew an aging fleet [39]

Tyra Biosciences Conference Call Summary Company Overview - **Company**: Tyra Biosciences (NasdaqGS:TYRA) - **Focus**: Precision small molecule medicine, specifically targeting FGFR3 with their lead drug, dabogratinib [2][4] Key Points and Arguments Drug Development and Clinical Trials - **Dabogratinib**: An FGFR3 selective inhibitor recently cleared for a phase two study in upper tract urothelial carcinoma, with ongoing trials for intermediate risk NMIBC and achondroplasia [2][3] - **Market Opportunity**: The FGFR3 positive bladder cancer market is estimated to be over $5 billion, with a significant unmet need in patients, particularly in the intermediate risk NMIBC setting [3][4] - **Efficacy Data**: Erdafitinib, a competitor, has shown a 35.3% overall response rate (ORR) at 8-9 mg dose, while a lower dose in the NMIBC setting yielded an 89% complete response (CR) rate [5][6] Competitive Landscape - **Unique Position**: Tyra is the only company advancing an FGFR3 selective oral drug, which is expected to have a better safety profile compared to existing treatments that affect FGFR1, 2, and 4 [4][6] - **Safety Profile**: Dabogratinib demonstrated significantly reduced toxicity compared to erdafitinib, with lower rates of common side effects such as nail disorders and hyperphosphatemia [6][8] Market Dynamics - **Urologist Engagement**: There is strong enthusiasm among urologists for oral therapies, as they can enhance practice revenue through in-office dispensing, similar to oral prostate cancer drugs [10][11] - **Switch Market Potential**: The treatment landscape is expected to shift towards oral options, with urologists likely to prefer oral therapies for recurrent patients rather than invasive procedures [29][30] Achondroplasia Program - **Growth Impact**: FGFR3 inhibition has shown potential to improve annualized height velocity (AHV) in children with achondroplasia, with Tyra aiming to exceed the 6 cm/year benefit seen in competitors [15][18] - **Preclinical Validation**: Studies indicate that targeting FGFR3 can lead to significant growth without severe toxicity, suggesting a favorable therapeutic window [17][19] Future Milestones - **Data Readouts**: Tyra expects to provide data on NMIBC and achondroplasia in 2026, with a well-financed position into 2028, holding $275 million [24] - **Regulatory Path**: Positive data could lead to a rapid transition to registrational studies, similar to competitors' paths [32][33] Additional Important Insights - **Unmet Needs in Upper Tract Urothelial Carcinoma**: This area presents a high burden of unmet need, with a significant percentage of patients being FGFR3 positive [12][13] - **Community Engagement**: There is a strong interest from the medical community in Tyra's studies, indicating a robust pipeline and potential for successful patient recruitment [21][23] This summary encapsulates the critical aspects of Tyra Biosciences' conference call, highlighting the company's strategic focus, competitive advantages, and future opportunities in the biotech landscape.

Summary of Beyond Meat Special Meeting of Stockholders Company Overview - **Company**: Beyond Meat (NasdaqGS:BYND) - **Meeting Date**: November 19, 2025 - **Chairman**: Seth Goldman - **CEO**: Ethan Brown Key Points Discussed Meeting Structure and Attendance - The meeting was held virtually to enhance accessibility and reduce costs while supporting health and environmental considerations [2][4] - Key executives and board members attended, including the CFO Lubi Kutua and VP of FP&A Paul Sheppard [3] Legal and Procedural Aspects - The meeting adhered to Delaware law and the company's bylaws, confirming a quorum was present with 397,607,401 shares outstanding as of the record date [6][7] - Voting was conducted on five proposals, with the polls opening at 8:00 A.M. Pacific time [9][10] Proposals Voted On 1. **Proposal 1**: Approval of the potential issuance of shares upon conversion of up to $215 million in 7% convertible senior secured notes due 2030 [11] 2. **Proposal 2**: Amendment of the 2018 equity incentive plan to increase the number of shares authorized for issuance [12] 3. **Proposal 3**: Increase the number of authorized shares from 500 million to 3 billion to support additional share issuances [12] 4. **Proposal 4**: Approval of a reverse stock split and corresponding reduction in authorized shares [13] 5. **Proposal 5**: Related to the adjournment of the meeting, which was not submitted for a vote [14] Voting Results - All proposals (1 through 4) were approved based on preliminary voting results [15] Q&A Session - A question was raised regarding the necessity of reverse stock split authorization at this time, to which it was clarified that the proposal could not be canceled after the vote [17] Closing Remarks - CEO Ethan Brown emphasized the company's commitment to impacting global protein delivery and thanked stockholders for their support [19] Additional Important Information - The final voting results will be detailed in a current report on Form 8-K filed with the SEC [15] - The meeting concluded with a note of appreciation for stockholder participation [20]

OraSure Technologies (NasdaqGS:OSUR) FY Conference November 19, 2025 11:00 AM ET Speaker0How's y'all's day going?Speaker1Good.Morning.Speaker0Yeah.Almost at the halfway point for you, right?No.Oh, maybe time-wise, not meeting-wise, maybe.Yeah, time-wise for sure. Meeting-wise, I think we have seven more.Should be healthcare mostly today and tomorrow.Yeah, healthcare is almost all today and tomorrow. I prefer to try and get everybody in on Wednesday because it just seems like you get more generalists. Thursd ...

Pacific Biosciences of California (NasdaqGS:PACB) FY Conference November 19, 2025 11:00 AM ET Company ParticipantsJim Gibson - CFOConference Call ParticipantsNone - Analyst 1None - Analyst 2None - Analyst 3ModeratorAll right. We can start a minute or two later.Jim GibsonSure.Are you guys doing a Q&A style thing, or what do you guys say?I have some prepared. If you guys have questions, I mean, absolutely hop in. Do you?I mean, I've got some stuff I'd like to know. I don't know. It's up to you. I'm just kind ...