Dana (NYSE:DAN) Q4 2025 Earnings call February 18, 2026 09:00 AM ET Company ParticipantsBruce McDonald - Chairman and CEOByron Foster - SVP and President of Light Vehicle Systems GroupCraig Barber - Senior Director of Investor Relations and Corporate CommunicationsJames Mulholland - Research AssociateThomas Ito - Global Equity Research Autos Senior AssociateTimothy Kraus - SVP and CFOConference Call ParticipantsColin Langan - Director and Senior Equity AnalystEmmanuel Rosner - Managing Director and Senior E ...

Celanese (NYSE:CE) Q4 2025 Earnings call February 18, 2026 09:00 AM ET Company ParticipantsBill Cunningham - VP of Investor RelationsChuck Kyrish - CFOScott Richardson - President and CEOConference Call ParticipantsAdam Samuelson - Equity Research AnalystAleksey Yefremov - Managing Director and Equity Research AnalystAziza Osinaike - Equity Research AnalystDavid Begleiter - Managing Director and Senior Equity Research AnalystGhansham Panjabi - Senior Research AnalystHassan Ahmed - Equity Research AnalystJef ...

OGE Energy (NYSE:OGE) Q4 2025 Earnings call February 18, 2026 09:00 AM ET Company ParticipantsAditya Gandhi - VP, Equity Research - UtilitiesCasey Strange - Senior Manager of Investor RelationsCharles Walworth - CFOChris Hark - Equity Research AssociateSean Trauschke - Chairman, President and CEOWhitney Mutalemwa - VP, Equity ResearchConference Call ParticipantsBrian Russo - Managing Director and Senior Equity Research AnalystMichael Brown - Associate Analyst Equity ResearchStephen D'Ambrisi - Utilities Ana ...

Financial Data and Key Metrics Changes - In 2025, normalized adjusted EBITDA increased by 10% year-on-year, with the normalized adjusted EBITDA margin expanding by 166 basis points to 19% [25][9] - Total revenue for 2025 was $2.8 billion, up 1% year-on-year, driven primarily by growth in distribution revenue [25][22] - Pro forma free cash flow for the fourth quarter was $116 million, a year-on-year increase of $45 million [24][9] - The company ended the year with a strong cash balance of $910 million, which includes $98 million in restricted cash for debt repayments in the first quarter of 2026 [10][25] Business Line Data and Key Metrics Changes - Air distribution bookings grew by 4% year-on-year in the fourth quarter, with a total growth of 7% in December [12][22] - Hotel distribution bookings increased by 5% year-on-year to 42 million, with gross hotel booking value exceeding $20 billion annually [13][12] - Sabre Payments was one of the fastest-growing businesses, with gross spend on the platform increasing by more than 35% year-on-year [11] Market Data and Key Metrics Changes - The company recorded double-digit year-on-year growth in normalized adjusted EBITDA and generated positive pro forma free cash flow [9] - NDC (New Distribution Capability) represented approximately 4% of total air distribution bookings, with expectations for acceleration in 2026 [12][22] - The company expects mid-single-digit volume growth for both 2026 and 2027, driven by continued share gains and growth in NDC bookings [28][32] Company Strategy and Development Direction - The company is transitioning from a GDS-focused model to an AI-native technology leader, emphasizing the importance of AI in the travel ecosystem [6][7] - Recent executive leadership changes were announced to align talent and investments with the AI strategy [8] - The company aims to leverage its extensive travel data and proprietary logic to become essential in an AI-first world [16][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positioning for strong, sustained performance despite challenges in 2025 [5] - The outlook for 2026 includes expectations for mid-single-digit revenue growth and continued improvements in operational efficiency [28][32] - Management highlighted the importance of maintaining operational delivery and R&D while managing costs through an inflation offset program [56][57] Other Important Information - The company paid off over $1 billion in debt in 2025, reducing pro forma net leverage by approximately 25% compared to year-end 2024 [9][26] - The company has no large debt maturities until 2029, with over 90% of its debt maturing in 2029 or later [10][26] Q&A Session Summary Question: What still needs to be done on the AI front, and what upside opportunities from AI might evolve? - Management indicated that the next stage involves demonstrating the end-to-end experience of conversational commerce in travel, with partnerships like Mindtrip and PayPal enhancing the customer experience [40][41] Question: Does the introduction of GenAI change the economic equation for direct connects? - Management explained that Sabre's scalable marketplace allows for faster response times compared to direct connects, making it a valuable partner for AI companies [49][50] Question: Can you elaborate on the inflation offset program? - The program aims to keep key cost items flat while driving efficiency, with a focus on leveraging geographical advantages and embedding AI into the workforce [56][57]

ProPetro (NYSE:PUMP) Q4 2025 Earnings call February 18, 2026 09:00 AM ET Company ParticipantsArun Jayaram - Executive DirectorCaleb Weatherl - CFOEddie Kim - VP of Equity ResearchJeff LeBlanc - Director in Equity ResearchJohn Daniel - Founder and PresidentMatt Augustine - VP of Finance and Investor RelationsSam Sledge - CEOStephen Gengaro - Managing DirectorTravis Simmering - PresidentConference Call ParticipantsDerek Podhaizer - Director and Senior Research AnalystScott Gruber - Managing Director and Senio ...

Expand Energy (NasdaqGS:EXE) Q4 2025 Earnings call February 18, 2026 09:00 AM ET Company ParticipantsBrittany Raiford - VP, Treasurer, and Interim CFOColby Arnold - Investor Relations ManagerDan Turco - EVP of Marketing and CommercialJosh Viets - EVP and COOKevin MacCurdy - Managing Director in the Research TeamMatthew Portillo - Partner and Head of ResearchMike Wichterich - Chairman of the Board and Interim President and CEONeil Mehta - Managing Director and Head of North American Natural Resources Equity ...

Celanese (NYSE:CE) Q4 2025 Earnings call February 18, 2026 09:00 AM ET Company ParticipantsAziza Gazieva - VP and Co-FounderBill Cunningham - VP of Investor RelationsChuck Kyrish - CFOHassan Ahmed - Partner and Head of ResearchJosh Spector - Executive Director of Chemicals Equity ResearchKevin Estok - VP of Equity ResearchKevin McCarthy - PartnerMichael Sison - Managing DirectorScott Richardson - President and CEOConference Call ParticipantsAleksey Yefremov - Managing Director and Equity Research AnalystDav ...

Dana (NYSE:DAN) Q4 2025 Earnings call February 18, 2026 09:00 AM ET Company ParticipantsBruce McDonald - Chairman and CEOByron Foster - SVP and President of Light Vehicle Systems GroupCraig Barber - Senior Director of Investor Relations and Corporate CommunicationsJames Mulholland - Research AssociateThomas Ito - Global Equity Research Autos Senior AssociateTimothy Kraus - SVP and CFOConference Call ParticipantsColin Langan - Director and Senior Equity AnalystEmmanuel Rosner - Managing Director and Senior E ...

FirstEnergy (NYSE:FE) Q4 2025 Earnings call February 18, 2026 09:00 AM ET Company ParticipantsAndrew Weisel - Manang DirectorAnthony Crowdell - Manang DirectorBrian Tierney - CEO and PresidentCarly Davenport - VP in Equity ResearchJon Taylor - SVP and CFOKaren Sagot - VP of Investor RelationsShahriar Pourreza - Manang DirectorConference Call ParticipantsDavid Arcaro - Equity AnalystJeremy Tonet - AnalystNick Campanella - Senior AnalystPaul Patterson - AnalystRyan Levine - AnalystSteve Fleishman - Managing D ...

FirstEnergy (NYSE:FE) Q4 2025 Earnings call February 18, 2026 09:00 AM ET Company ParticipantsAndrew Weisel - Manang DirectorAnthony Crowdell - Manang DirectorBrian Tierney - CEO and PresidentCarly Davenport - VP in Equity ResearchJon Taylor - SVP and CFOKaren Sagot - VP of Investor RelationsShahriar Pourreza - Manang DirectorConference Call ParticipantsDavid Arcaro - Equity AnalystJeremy Tonet - AnalystNick Campanella - Senior AnalystPaul Patterson - AnalystRyan Levine - AnalystSteve Fleishman - Managing D ...