Dycom Industries (NYSE:DY) Q3 2026 Earnings Call November 19, 2025 09:00 AM ET Company ParticipantsFrank Louthan - Managing DirectorDrew DeFerreri - CFOLaura Maher - Equity Research AssociateDan Peyovich - President and CEOCallie Tomasso - VP of Investor Relations and Corporate CommunicationsAlex Waters - VPConference Call ParticipantsRichard Cho - AnalystSteven Fisher - Senior Equity Research AnalystBrent Thielman - Stock AnalystAdam Toller - AnalystSangita Jain - Senior AnalystEric Lupco - AnalystOperator ...

Lowe’s (NYSE:LOW) Q3 2026 Earnings Call November 19, 2025 09:00 AM ET Company ParticipantsKate Pearlman - VP of Investor Relations and TreasurerJoe McFarland - EVP of StoresBill Boltz - EVP of MerchandisingMarvin Ellison - Chairman and CEOGreg Melich - Senior Managing DirectorKate McShane - Managing DirectorBrandon Sink - EVP and CFOConference Call ParticipantsChris Horvers - AnalystRobbie Ohmes - AnalystSimeon Gutman - AnalystZhihan Ma - Senior Research Analyst of RetailSeth Sigman - Managing Director and ...

Summary of Disc Medicine Conference Call Company Overview - **Company**: Disc Medicine (NasdaqGM:IRON) - **Focus**: Controlling red blood cell biology through iron and heme metabolism - **Lead Program**: Bitopertin, licensed from Roche, targeting erythropoietic protoporphyria (EPP) with approximately 14,000 diagnosed patients in the US [4][15] Key Programs and Developments 1. **Bitopertin for EPP** - **Status**: Submitted NDA at the end of September 2025, in accelerated approval process with FDA [5][11] - **Timeline**: Potential approval and launch expected late 2025 to early 2026, accelerated by a commissioner’s national priority voucher [5][12] - **Sales Force**: Team of 24 prepared to engage with physicians treating the 6,000 highly engaged patients identified [17] 2. **DISC-0974 for Myelofibrosis** - **Phase**: Ongoing phase 2 trial (RALI-MF) with data expected at ASH 2025 [5][26] - **Data**: Previous data showed unprecedented positive response rates in treating anemia in myelofibrosis patients [5][27] - **Market Size**: Approximately 22,000 anemic myelofibrosis patients in the US could benefit from this therapy [34] 3. **Polycythemia Vera Program** - **Status**: Phase 2 trial initiated, focusing on restricting iron to manage excess red blood cell production [44] Financial Position - **Balance Sheet**: Approximately $825 million available, sufficient to fund operations until 2029 without revenue [46] Competitive Landscape - **Current Competitors**: JAK inhibitors like Jakafi exacerbate anemia, creating a market opportunity for anemia-specific therapies [27][42] - **Emerging Competitors**: Incyte's early clinical programs targeting calreticulin mutations, but efficacy in managing anemia remains uncertain [41][43] Important Considerations - **Patient Engagement**: Identified patient population is engaged, with a significant number already receiving treatment, facilitating quicker access to therapy post-approval [15][18] - **Reimbursement Pathways**: Initial reimbursement pathways may be less established at launch, requiring strategies like free drug programs [13][20] - **Regulatory Strategy**: Plans for a pivotal trial with broad enrollment criteria to support rapid patient recruitment [39][40] Upcoming Milestones - **ASH Presentation**: Expected data from the RALI-MF trial to be presented, with insights into response rates across different patient categories [28][29] - **Pivotal Trial Design**: Anticipated discussions with FDA post-phase 2 trial completion to outline pivotal trial strategy [39][40] This summary encapsulates the key points discussed during the conference call, highlighting the strategic direction, clinical programs, financial health, and competitive landscape of Disc Medicine.

Lowe’s (NYSE:LOW) Q3 2026 Earnings Call November 19, 2025 09:00 AM ET Company ParticipantsKate Pearlman - VP of Investor Relations and TreasurerJoe McFarland - EVP of StoresBill Boltz - EVP of MerchandisingMarvin Ellison - Chairman and CEOGreg Melich - Senior Managing DirectorKate McShane - Managing DirectorBrandon Sink - EVP and CFOConference Call ParticipantsChris Horvers - AnalystRobbie Ohmes - AnalystSimeon Gutman - AnalystZhihan Ma - Senior Research Analyst of RetailSeth Sigman - Managing Director and ...

Valvoline (NYSE:VVV) Q4 2025 Earnings Call November 19, 2025 09:00 AM ET Company ParticipantsMark Jordan - VPElizabeth Clevinger - Senior Director FinancePeter Keith - MDSteven Zaccone - DirectorLori Flees - President and CEOKevin Willis - CFOConference Call ParticipantsJustin Kleber - Senior Equity Research AnalystNone - AnalystSimeon Gutman - Senior Equity Research AnalystOperatorHello and welcome, everyone, to the Valvoline Lori Flees, 4Q Earnings Conference Call and Webcast. My name is Becky, and I'll b ...

Valvoline (NYSE:VVV) Q4 2025 Earnings Call November 19, 2025 09:00 AM ET Company ParticipantsMark Jordan - VPElizabeth Clevinger - Senior Director FinancePeter Keith - MDSteven Zaccone - DirectorLori Flees - President and CEOKevin Willis - CFOConference Call ParticipantsJustin Kleber - Senior Equity Research AnalystNone - AnalystSimeon Gutman - Senior Equity Research AnalystOperatorHello and welcome, everyone, to the Valvoline Lori Flees, 4Q Earnings Conference Call and Webcast. My name is Becky, and I'll b ...

Dycom Industries (NYSE:DY) Q3 2026 Earnings Call November 19, 2025 09:00 AM ET Company ParticipantsDaniel Peyovich - President and CEOFrank Louthan - Managing DirectorDrew DeFerreri - CFOLaura Maher - Equity Research AssociateCallie Tomasso - VP of Investor Relations and Corporate CommunicationsAlex Waters - VPConference Call ParticipantsRichard Cho - AnalystSteven Fisher - Senior Equity Research AnalystBrent Thielman - Stock AnalystAdam Toller - AnalystSangita Jain - Senior AnalystEric Lupco - AnalystOpera ...

Summary of Gilead Sciences Conference Call Company Overview - **Company**: Gilead Sciences (NasdaqGS:GILD) - **Event**: Jefferies Healthcare London Conference - **Date**: November 19, 2025 Key Points Industry and Company Performance - Gilead has experienced significant growth in its base business over the past three years, with base revenues (excluding COVID antiviral) growing 7% in 2023 and 5% in the current year despite a $1.1 billion headwind from Medicare Part D reform, indicating a potential 9%-10% growth in the base business [3][4] - The company has diversified its portfolio into virology, HIV, oncology, and inflammation, with a notable increase in R&D spending, which has more than doubled since 2016 [2][3] Capital Allocation and M&A Strategy - Gilead is focused on building a commercial infrastructure around assets rather than pursuing bolt-on acquisitions, with an annual business development budget of over $1 billion for partnerships and small acquisitions [5][6] - Recent acquisitions include a STAT6 degrader for inflammation and an in vivo cell therapy company, Interius, for a couple hundred million dollars [6] - The company is prioritizing late-stage, de-risked assets that synergize with its existing commercial infrastructure, with no major patent cliffs until 2036 [7][8] Market Dynamics and Opportunities - Gilead is increasingly looking to China for partnerships and acquisitions, with over half of its business development priorities for 2025 coming from Chinese companies, a significant increase from 5% five years ago [9][10] - The launch of Yeztugo, a long-acting HIV prevention drug, is underway, with $54 million in sales reported and guidance of nearly $100 million for the fourth quarter [11][14] - The HIV prevention market is transitioning from daily oral medications to long-acting injectables, with over 75% of covered lives having unrestricted access to Yeztugo [15][16] Product Launch and Market Potential - Yeztugo is positioned to open a new chapter in HIV prevention, with groundbreaking studies showing 100% and 99.9% prevention rates in different populations [12][13] - The CDC has recently doubled its estimates for the addressable PrEP market from 1.2 million to 2.2 million, indicating significant growth potential [33] - Gilead expects the market to be split 50% oral and 50% injectables by 2030, with ongoing development of a once-yearly injectable version of Yeztugo [32][35] Future Pipeline and Innovations - Gilead is advancing multiple late-stage trials in its HIV treatment portfolio, including a new daily combination regimen and a six-month infusion treatment for patients not controlled on existing therapies [38][41] - The company is also developing anito-cel, a BCMA cell therapy for multiple myeloma, with plans to file for approval by the end of 2025 and launch by late 2026 [44][46] Manufacturing and Competitive Advantage - Gilead has built a robust manufacturing infrastructure for cell therapies, with the capacity to treat up to 24,000 patients by 2026, providing a competitive edge in reliability and speed compared to competitors [46][47] Additional Insights - The company emphasizes the importance of adherence in HIV prevention, noting that long-acting injectables guarantee adherence, which is a significant advantage over daily oral medications [36] - Gilead's approach to market growth is characterized by steady, durable, and consistent growth rather than rapid spikes, reflecting a long-term strategy for its product launches [27][28]

Summary of Green Plains Fireside Chat Company Overview - **Company**: Green Plains - **Industry**: Bio-refining and Renewable Fuels - **Key Operations**: Operates a network of ethanol plants with a focus on low-carbon renewable fuels and sustainable feedstocks, including three carbon capture-enabled facilities in Nebraska [1][2] Core Points and Arguments Strategic Focus - Green Plains is undergoing a multi-year operational and financial transformation emphasizing asset optimization, decarbonization, and disciplined capital allocation [1] - The company aims to be the best low-cost, low-carbon intensity biofuel producer, focusing on operational excellence and continuous improvement [5][6] Financial Performance - The company operates eight facilities with a total ethanol capacity of approximately 680 million gallons and the capability to produce 250,000 tons of high-quality protein products annually [2][3] - Year-to-date value from 45Z tax credits reached $26.5 million, with expectations of an additional $15 million-$25 million in Q4 [7][11] - The company has adjusted its non-Nebraska opportunity down to $38 million from $50 million due to the sale of the Obion asset [14][16] Operational Improvements - Achieved record utilization of 101% in the quarter, driven by fermentation improvements and reduced downtime [23][25] - Focused on maximizing throughput and improving operational efficiency to exceed theoretical capacity [25][26] Market Dynamics - Ethanol margins improved to mid-cycle levels in August and September, driven by seasonal demand and a strong corn crop [27][29] - Export demand for ethanol is expected to exceed 2 billion gallons this year, with growth anticipated in 2026, primarily driven by Canada, the EU, and India [34] Capital Structure and Debt Management - Recently refinanced a portion of convertible debt, extending maturity to 2030 and raising $30 million in cash [18][19] - The company aims to maintain a healthy balance sheet while focusing on operational execution and strategic investments [46][47] Future Outlook - The company is optimistic about the potential of E15 fuel in California, viewing it as a significant opportunity for growth, although regulatory hurdles remain [36] - Plans to evaluate and prioritize capital projects to improve operational efficiency and reduce carbon intensity scores [47][48] Other Important Insights - The company is focused on maintaining the health of its assets and addressing safety and environmental opportunities [47] - Green Plains is strategically rationalizing its protein business to focus on high-margin applications in pet care and aquaculture [44] - The company is committed to continuous improvement in SG&A costs, aiming for a run rate in the low $90 million range [21][22] This summary encapsulates the key points discussed during the fireside chat, highlighting Green Plains' strategic direction, financial performance, operational improvements, market dynamics, capital structure, and future outlook.

South Bow (NYSE:SOBO) 2025 Investor Day November 19, 2025 09:00 AM ET Company ParticipantsEli Jossen - Equoty Research VPMartha Wilmot - Director of Investor RelationsMaurice Choy - Director of Canadian Energy InfrastructureAJ O'Donnell - Director of Equity ResearchKeith Stanley - DirectorRobert Hope - Managing Director of Equity ResearchVan Dafoe - SVP and CFOBevin Wirzba - President and CEORichard Prior - SVP and COOSam Burwell - VP of Energy Equity ResearchConference Call ParticipantsRob Catellier - Ener ...