Financial Data and Key Metrics Changes - The fourth quarter revenue rose 3.4% in Mexican peso terms to MXN 245 billion, and was up 6.2% at constant exchange rates, with service revenue expanding 5.3% [7][8] - EBITDA increased by 4.2% in Mexican peso terms to MXN 95 billion, and was up 6.9% at constant exchange rates [8] - Net profit for the quarter was MXN 19 billion, which was four times larger than the previous year, equivalent to MXN 0.32 per share or $0.35 per ADR [9] Business Line Data and Key Metrics Changes - The company added 2.5 million wireless subscribers in the quarter, with 2.8 million postpaid net gains and 298,000 prepaid losses, ending December with 331 million wireless subscribers [5][6] - The mobile postpaid base grew by 8.4% year-on-year, while broadband accesses expanded by 5.6% [7] - Fixed line service revenue increased by 3.6% year-over-year, with fixed broadband revenue rising by 6.4% [9] Market Data and Key Metrics Changes - The dollar depreciated against most currencies in the region, declining 2.3% versus the Mexican peso and 5.7% versus the Chilean peso [5] - Brazil led in postpaid net additions with 644,000 subscribers, followed by Colombia with 276,000 and Peru with 148,000 [6] Company Strategy and Development Direction - The company aims to maintain a capital expenditure target of around 14%-15% of revenues, approximately $6.8 billion to $7 billion [15][18] - The management is focused on reducing debt and preparing for potential consolidation opportunities in the region, particularly in small companies or fiber operations [40][41] Management's Comments on Operating Environment and Future Outlook - The management noted that the U.S. government shutdown raised uncertainty about economic activity, impacting employment and economic indicators [4] - The competitive landscape in Latin America is changing, with expectations of further consolidation in the market, which could benefit the company [61][65] Other Important Information - The company reported a nearly 40% year-on-year increase in free cash flow, reaching MXN 82 billion after CapEx of MXN 131 billion [10] - Shareholder distributions reached MXN 45 billion, including MXN 12 billion in share buybacks [10] Q&A Session Summary Question: CapEx outlook for 2026 and coming years - The company targets a CapEx of around 14%-15% of revenues, approximately $6.8 billion to $7 billion, for the next few years [15][18] Question: Pre-tax, non-operating expenses - The management acknowledged the increase in non-operating expenses and suggested contacting investor relations for detailed information [22][24] Question: Telefónica's sale of operations in Chile - The company decided not to proceed with a bid for Telefónica's operations due to complexities and regulatory issues, but remains committed to competing in Chile [30][32] Question: Capital allocation strategy - The management emphasized a focus on reducing debt, preparing for M&A opportunities, and returning value to shareholders through buybacks and dividends [40][41] Question: Impact of FX on overall results - The company highlighted the complexity of managing multiple currencies and the importance of constant exchange rates for accurate financial reporting [50][51] Question: Regulatory environment and consolidation in Latin America - The management sees potential for consolidation in the market, which could be beneficial, and noted that asymmetric regulation only exists in Mexico [61][65] Question: Number portability trends in Brazil - The management indicated that both NuCel and strong postpaid operations are contributing to positive number portability trends in Brazil [70][71] Question: Sustainability of broadband growth in Mexico - The management expressed confidence in sustaining broadband growth due to successful promotions and high customer satisfaction with service bundles [78]

Generac (NYSE:GNRC) Q4 2025 Earnings call February 11, 2026 10:00 AM ET Company ParticipantsAaron Jagdfeld - President and CEOKris Rosemann - VP of Investor RelationsYork Ragen - CFOConference Call ParticipantsBrian Drab - AnalystChristopher Glynn - AnalystDimple Gosai - AnalystGeorge Gianarikas - AnalystJeff Hammond - AnalystJoseph Osha - AnalystKeith Housum - AnalystMike Halloran - AnalystPraneeth Satish - AnalystStephen Gengaro - AnalystTed Giletti - AnalystTommy Moll - AnalystOperatorHello, and thank yo ...

Apollo Commercial Real Estate Finance (NYSE:ARI) Q4 2025 Earnings call February 11, 2026 10:00 AM ET Company ParticipantsAnastasia Mironova - CFOStuart Rothstein - CEOConference Call ParticipantsDoug Harter - Senior Equity Research AnalystJade Rahmani - Equity Research AnalystRick Shane - Senior Equity Research AnalystStuart RothsteinThank you, operator. Good morning, and thank you for joining us on the Apollo Commercial Real Estate Finance fourth quarter and full year 2025 earnings call. I am joined today ...

Financial Data and Key Metrics Changes - InvenTrust reported Same Property NOI growth of 5.3% for 2025, marking the second consecutive year above 5% and the fifth consecutive year of growth exceeding 4% [4][10] - Core FFO finished at $1.89 per share, representing a 6.2% year-over-year growth [4][11] - Total liquidity at year-end was $480 million, with a net debt to adjusted EBITDA ratio of 4.5 times, which is a sector-low [11][12] Business Line Data and Key Metrics Changes - Same Property NOI for the fourth quarter was $44.3 million, up 3% year-over-year [10] - Nareit FFO for the full year totaled $147.8 million, or $1.89 per diluted share, reflecting a 6.2% increase over 2024 [10][11] - The company completed two acquisitions in the fourth quarter totaling $109 million, funded through available liquidity and property-level debt [12] Market Data and Key Metrics Changes - Top-performing retail markets in 2025 included Charlotte, Tampa, Orlando, and Dallas, with Charlotte showing robust population growth and job creation [8] - Retail sales increased, and announced store openings exceeded closures, indicating sustained confidence in physical retail [15] Company Strategy and Development Direction - The company aims to expand its portfolio in Sun Belt markets, focusing on grocery-anchored assets and maintaining a disciplined acquisition approach [6][8] - Redevelopment initiatives are expected to contribute approximately 50-100 basis points of incremental NOI growth annually over the next couple of years [7] - The company plans to grow its business thoughtfully while enhancing operational footprint and value creation through leasing and asset management [6][8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the retail landscape's resilience, despite increased store closures, due to low new retail construction and improved retailer decision-making [7][8] - For 2026, the company expects core FFO per share growth in the mid-single-digit range and net investment activity of approximately $300 million [8][12] Other Important Information - The board approved a 5% increase in the annual cash dividend for 2026, raising the rate to $1 per share [12] - The company is focused on maintaining a strong balance sheet while being opportunistic in funding acquisitions [25][26] Q&A Session Summary Question: Funding sources for $300 million net acquisition activity - Management indicated they have ample room on the balance sheet and plan to use their line of credit and possibly issue private placement debt [21][24] Question: Impact of Amazon Go and Fresh store closures on Whole Foods - Management stated that Whole Foods locations in their portfolio are performing well and are not at risk from Amazon's store closures [28][29] Question: Expectations for CapEx requirements in 2026 - Management expects renewals to be a larger part of the business, leading to lower CapEx requirements [31][32] Question: Acquisition pipeline and pricing - Nearly half of the $300 million acquisition guidance is either under contract or awarded, with a competitive market for assets [35][36] Question: Disposition strategy for 2026 - Management indicated that dispositions will be a source of capital once acquisition opportunities are identified, with one asset in California expected to close in 2026 [38][39] Question: Revenue impact from signed-not-open pipeline - Management expects most of the signed-not-open revenue to come online this year, with minimal impact from weather events [41] Question: Competitive market dynamics - Management noted that competition remains strong, but they have had success in finding opportunities that fit their criteria [54][55]

Sagimet Biosciences (NasdaqGM:SGMT) 2026 Conference February 11, 2026 10:00 AM ET Company ParticipantsDavid Happel - CEOEduardo Martins - Chief Medical OfficerRobert D’Urso - SVP of New ProductsConference Call ParticipantsSeamus Fernandez - Senior Managing Director and Senior AnalystSeamus FernandezThanks for joining us here at Guggenheim's Emerging Outlook Conference. This is our biotech summit for 2026. We've hosted this event annually for several years now, but really excited to have Sagimet join us here ...

Financial Data and Key Metrics Changes - For the fourth quarter, the company reported revenues of $176 million and an EBITDA-equivalent cash flow of $109 million, with a total EBITDA of $450 million over the past 12 months, indicating strong operational stability [3][14] - The net result for the quarter was a loss of approximately $4.7 million or $0.04 per share, impacted by non-recurring and non-cash items [16] Business Line Data and Key Metrics Changes - Charter revenue from the fleet was approximately $176 million, with the container fleet contributing around $81 million, the car carrier fleet generating approximately $26 million, and the tanker fleet generating about $42 million [14][15] - The overall utilization of the shipping fleet in Q4 was about 98.6%, with adjusted utilization at 99.8% [12] Market Data and Key Metrics Changes - The company noted a significant strengthening in the tanker market, with the Suezmax segment expected to benefit from high charter rates due to correlations with the VLCC market [8][25] - The market for secondhand vessels is currently strong, with broker reports indicating a modern Suezmax tanker could command rates in the high $40,000s to over $60,000 per day [36] Company Strategy and Development Direction - The company aims to build a diversified, high-quality fleet and has secured long-term agreements with strong counterparties, enhancing its charter backlog to approximately $3.7 billion [3][9] - The company is focused on investing in efficiency upgrades and exploring new long-term charter opportunities, particularly in the tanker market [4][7] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about securing new employment for the Hercules rig, citing recent industry consolidations and increasing demand for premium rigs [9][42] - The company remains disciplined in its approach to capital deployment, focusing on sustainable cash flows and long-term contracts [30][31] Other Important Information - The company declared its 88th consecutive dividend of $0.20 per share, representing a dividend yield of around 9% [9][17] - The company has a solid liquidity position with cash and cash equivalents totaling approximately $151 million and an additional $46 million available on credit facilities [16][17] Q&A Session Questions and Answers Question: How is the company thinking about the Suezmax vessels given the strong crude tanker spot market? - Management finds the Suezmax market interesting and is looking for long-term charters while also benefiting from the current spot market [20][25] Question: What is the outlook for the dividend over the next 12 months? - Management indicated that the board does not guide on dividends but emphasized the importance of sustainable cash flows and disciplined capital deployment [28][31] Question: What was the rate on the previous contract for the terminated charters? - The previous charter rates for the sold vessels were around $27,000 per day, and the company sold them for $57 million each [35][36] Question: What is the status of the Hercules rig? - The Hercules rig has been idle since November 2024, but management sees signs of improving market dynamics and potential employment opportunities [42] Question: What is the size of the new rig financing facility? - The new financing facility for the Hercules rig is expected to be in the amount of $100 million [48]

Lithia Motors (NYSE:LAD) Q4 2025 Earnings call February 11, 2026 10:00 AM ET Company ParticipantsBret Jordan - Managing DirectorBryan DeBoer - President and CEOChuck Lietz - SVP of FinanceDaniela Haigian - VP of Equity ResearchJardon Jaramillo - Senior Director of FinanceJeff Lick - Managing DirectorRajat Gupta - VPTina Miller - SVP and CFOConference Call ParticipantsJohn Babcock - AnalystJohn Saager - Senior Equity Research AnalystMark Delaney - Managing Director and Senior Equity AnalystMichael Ward - Fin ...

Lithia Motors (NYSE:LAD) Q4 2025 Earnings call February 11, 2026 10:00 AM ET Company ParticipantsBret Jordan - Managing DirectorBryan DeBoer - President and CEOChuck Lietz - SVP of FinanceDaniela Haigian - VP of Equity ResearchJardon Jaramillo - Senior Director of FinanceJeff Lick - Managing DirectorRajat Gupta - VPTina Miller - SVP and CFOConference Call ParticipantsJohn Babcock - AnalystJohn Saager - Senior Equity Research AnalystMark Delaney - Managing Director and Senior Equity AnalystMichael Ward - Fin ...

Financial Data and Key Metrics Changes - The fourth quarter revenue rose 3.4% in Mexican peso terms to MXN 245 billion, and was up 6.2% at constant exchange rates, with service revenue expanding 5.3% [8][9] - EBITDA increased by 4.2% in Mexican peso terms to MXN 95 billion, and was up 6.9% at constant exchange rates [9] - Net profit for the quarter was MXN 19 billion, which was four times larger than the previous year, equivalent to MXN 0.32 per share or $0.35 per ADR [10] - Free cash flow for the year 2025 was MXN 82 billion, representing a nearly 40% year-on-year increase [11] Business Line Data and Key Metrics Changes - The company added 2.5 million wireless subscribers in the quarter, with 2.8 million postpaid net gains and 298,000 prepaid losses, ending December with 331 million wireless subscribers [5][6] - The mobile postpaid base grew by 8.4% year-on-year, while broadband accesses expanded by 5.6% [8] - Fixed line service revenue increased by 3.6% year-over-year, with fixed broadband revenue rising by 6.4% [10] Market Data and Key Metrics Changes - The dollar depreciated against most currencies in the region, declining 2.3% versus the Mexican peso and 5.7% versus the Chilean peso [5] - Brazil led in postpaid net additions with 644,000 subscribers, followed by Colombia with 276,000 and Peru with 148,000 [6] Company Strategy and Development Direction - The company aims to maintain a capital expenditure target of around 14%-15% of revenues, approximately $6.8 billion to $7 billion for 2026 [16][20] - The management is focused on reducing debt and preparing for potential consolidation opportunities in the region, particularly in small fiber companies [40][41] Management's Comments on Operating Environment and Future Outlook - The management noted that the U.S. government shutdown raised uncertainty about economic activity, impacting employment and economic indicators [4] - The competitive landscape in Latin America is changing, with expectations of further consolidation in the market, which could benefit the company [66] Other Important Information - The company disconnected 79,000 voice lines in the fixed line segment, while adding 77,000 pay TV units [7] - The comprehensive financing costs were roughly half those of the previous year [10] Q&A Session Summary Question: CapEx outlook for 2026 - The company targets a CapEx of around 14%-15% of revenues, approximately $6.8 billion to $7 billion for 2026 [16][20] Question: Pre-tax non-operating expenses - The management acknowledged the increase in pre-tax non-operating expenses and suggested contacting investor relations for detailed information [24][26] Question: Telefónica's sale of operations in Chile - The company decided not to proceed with a bid for Telefónica's operations due to regulatory complexities and high leverage concerns, but remains committed to competing in Chile [32][34] Question: Capital allocation strategy - The management emphasized a focus on reducing debt and preparing for potential M&A opportunities, while also considering shareholder returns through buybacks and dividends [39][41] Question: Impact of FX on results - The management discussed the complexities of managing multiple currencies and emphasized the importance of constant exchange rates for accurate financial reporting [52][54] Question: Regulatory environment and consolidation in Latin America - The management sees potential for consolidation in the market, particularly in mobile and fixed services, and believes this will be beneficial for the company [61][66] Question: Brazilian number portability trends - The management indicated that both NuCel and the company's postpaid operations are contributing to strong number portability trends in Brazil [72][73] Question: Sustainability of broadband growth in Mexico - The management expressed confidence in sustaining broadband growth due to successful promotions and high customer satisfaction with service bundles [80]

Financial Data and Key Metrics Changes - The company reported net operating revenues of $21.3 billion for 2025, with consolidated adjusted EBITDA of $4.57 billion, representing a 14% growth over 2024 [5][13] - The adjusted EBITDA margin for the full year was 21.4%, an improvement of 210 basis points from the prior year [14] - In Q4 2025, total net operating revenues were $5.5 billion, with consolidated adjusted EBITDA of $1.183 billion, a 13% increase year-over-year [12] Business Line Data and Key Metrics Changes - The USPI segment's adjusted EBITDA grew 12% in 2025 to $2.026 billion, with same-facility revenues increasing by 7.2% [6][14] - The hospital segment's adjusted EBITDA increased by 16% to $2.54 billion, with same-store revenues per adjusted admission up 5.3% [7][14] - Same facility revenues grew 7.5%, driven by double-digit growth in total joint replacements in ASCs [7] Market Data and Key Metrics Changes - The company experienced strong same-store revenue growth, exceeding the long-term goal of 3%-6% organic growth [7] - The company anticipates a 20% reduction in overall enrollment due to the expiration of enhanced premium tax credits, which may impact the hospital segment significantly [10][11] Company Strategy and Development Direction - The company plans to continue focusing on organic growth supplemented by accretive M&A, particularly in the USPI segment, with a target of $250 million in annual M&A [8][22] - The company is also investing in technology and operational efficiencies to enhance expense management and improve clinical throughput [28][45] - The company aims to leverage its capabilities to serve patients better and expand service lines, particularly in high acuity areas [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving strong core earnings growth for 2026, despite anticipated headwinds from the expiration of enhanced premium tax credits [11][19] - The company expects adjusted EBITDA for 2026 to be in the range of $4.485 billion to $4.785 billion, driven by ongoing demand and acuity [9][18] - Management highlighted the importance of monitoring enrollment levels and effectuation rates as they navigate the changing healthcare landscape [11][72] Other Important Information - The company repurchased approximately 22% of its outstanding shares for around $2.5 billion since the share repurchase program began in Q4 2022 [8] - The company generated $367 million of free cash flow in Q4 2025, totaling $2.53 billion for the full year [15] Q&A Session Summary Question: Can you expand on the same-store hospital volume performance in the quarter? - Management noted that while acuity was good, the respiratory season was weaker than expected, impacting volumes [25] Question: What do you mean by tackling expense management more structurally? - Management explained that they are focusing on technology deployment for sustainable expense reduction, including automation and clinical throughput improvements [27][28] Question: Can you provide more details on the hospital admission growth guidance of 1%-2%? - Management indicated that the guidance reflects anticipated impacts from exchange exposure and investments in higher acuity capabilities [32] Question: Is the growth type sustainable in future years? - Management believes that while achieving 10% growth is ambitious, their track record of acuity growth and margin expansion supports this outlook [39][40] Question: What is the payer mix for USPI in Q4? - Management reported a consistent payer mix with net revenue per case growth of 5.5% and EBITDA margins above 40% [84]