Financial Data and Key Metrics Changes - Underwriting profit increased significantly from $9 million in 2024 to $67 million in 2025, marking a substantial improvement in financial performance [6] - Net investment income grew by nearly 20%, contributing to the overall financial health of the company [6] - Full-year operating earnings per share improved by 80%, reaching $4.60, while book value per share increased by over $6 to $36.88 [10] - The annual combined ratio improved to 94.8%, reflecting ongoing enhancements in the underlying loss ratio, catastrophe loss ratio, and expense ratio [6][10] Business Line Data and Key Metrics Changes - The core commercial business, which includes small business, middle market, and construction, experienced the strongest growth, with record new business production of $247 million [12][13] - Specialty E&S net written premium grew at a double-digit pace for both the fourth quarter and the full year, despite emerging competitive pressures [14] - The surety business also delivered double-digit net written premium growth for the quarter and full year, indicating strong momentum [15] Market Data and Key Metrics Changes - Rate increases moderated to 4.8% for the quarter, primarily in the property segment, while casualty lines experienced more modest impacts [13] - The underlying loss ratio improved to 55.4% in the fourth quarter, reflecting the quality of the portfolio developed over the last three years [16] - The fourth quarter catastrophe loss ratio was 1.2%, and the full year catastrophe loss ratio of 3.2% outperformed expectations [18] Company Strategy and Development Direction - The company has undergone significant transformation since late 2022, focusing on deepening underwriting expertise and enhancing actuarial insights [5] - Strategic investments in technology are aimed at improving operational efficiency and expanding underwriting capabilities, which are expected to generate significant operational efficiencies [8] - The company is committed to maintaining a conservative posture with reserves to protect its balance sheet and ensure long-term stability [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate a more competitive market while maintaining disciplined underwriting practices [27] - The company anticipates continued profitable growth in 2026, supported by a strong capital position and improved profitability metrics [11][24] - Management highlighted the importance of maintaining strong relationships with distribution partners and emphasized the ongoing commitment to long-term value creation for shareholders [11] Other Important Information - The board of directors declared a 25% increase in the quarterly cash dividend from $0.16 per share to $0.20 per share, reflecting confidence in the company's financial performance [11][23] - The company reported a strong return on equity of 13.7%, the best in nearly two decades, indicating robust financial health [7][10] Q&A Session Summary Question: Current pricing expectations in a competitive market - Management acknowledged increased competition but emphasized that pricing remains rational and attractive, with a focus on disciplined risk selection [27] Question: Long-term target for underwriting expense ratio - The company targets a run rate of about 35% for the expense ratio, with expectations for gradual reduction over time as growth continues [30][31] Question: Dynamics affecting profitability in the other liability line - Management noted pressure on profitability in the umbrella line due to large losses but is taking a conservative approach to pricing and reserves [36][37] Question: Impact of social inflation on umbrella line - Management indicated that while they have not seen significant nuclear verdicts, they are guarding against social inflation through careful pricing and reserve management [39]

Olema Pharmaceuticals (NasdaqGS:OLMA) 2026 Conference February 11, 2026 10:00 AM ET Company ParticipantsSean Bohen - CEOModeratorThanks, everyone, for continuing to join us. My name is Brad Canino. Happy to be sharing the stage with Sean Bohen, CEO of Olema. Sean, thank you so much for joining us.Sean BohenThank you, Brad.ModeratorMaybe a quick intro to the company would be helpful. You also did have an executive change recently, so maybe speak on that and how you're preparing the company for the next stage ...

Fourth Quarter 2025 Earnings Conference Call February 11, 2026 Safe Harbor and Non-GAAP Financial Measures Note Regarding Forward-Looking Statements: Certain statements and information included in this presentation are "forward-looking statements" under the Federal Private Securities Litigation Reform Act of 1995, including our expectations regarding: our forecast and outlook; market conditions, such as expectations regarding macroeconomic uncertainty, rental demand and utilization, and used vehicle sales v ...

February 10, 2026 Fourth Quarter & Full Year 2025 Earnings Presentation Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Words such as "anticipate", "believe", "continue", "could", "estimate", "expect", "hope", "intend", "may", "might", "plan", "possible", "potential", "predict", "project", "should", "strive", "seeks", "plans", "would", "will", "understand" and similar words are i ...

Financial Data and Key Metrics Changes - For Q4 2025, 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][12] - 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] - The overall utilization of the shipping fleet in Q4 was about 98.6%, with adjusted utilization at 99.8% when accounting for unscheduled technical off-hire [12] Market Data and Key Metrics Changes - The tanker market has seen unprecedented consolidation, with high charter rates expected to positively impact the Suezmax market [8] - The company noted a significant increase in the spot market rates, with the TD20 index rising by 20% in a short period, indicating a strong market outlook [24] Company Strategy and Development Direction - The company aims to build a diversified maritime infrastructure with a high-quality fleet and has secured long-term agreements with strong counterparties [3] - The strategy includes focusing on long-term charters and maintaining a strong charter backlog of approximately $3.7 billion, with two-thirds contracted to investment-grade counterparties [9][11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about securing new employment for the Hercules rig, citing recent industry developments that support higher day rates and extended contract durations [9] - The company remains disciplined in capital deployment, focusing on sustainable cash flows and long-term deals, while also being open to opportunities across various segments [27][30] 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 Summary Question: Thoughts on Suezmax vessels and long-term contracts - Management finds the Suezmax market interesting and is optimistic about securing long-term charters, while also benefiting from the strong spot market [20][24] Question: Dividend sustainability and market outlook - The board does not provide guidance on dividends but emphasizes the importance of sustainable cash flows and disciplined capital deployment [27][30] Question: Updates on terminated charters and spot market fixtures - Previous contracts had rates around $27,000 per day, and the current spot market is strong, with rates for modern Suezmax tankers expected to be in the high 40s [34][35] Question: Status of Hercules rig and market dynamics - The Hercules rig has been idle since November 2024, but management sees signs of improving market dynamics and potential employment opportunities [42] Question: Long-term revenue mix and strategic direction - The company is not focused on a single segment but aims to position itself as a logistics partner across various shipping segments, including containers and tankers [44][45]

Tower Semiconductor (NasdaqGS:TSEM) Q4 2025 Earnings call February 11, 2026 10:00 AM ET Speaker4Good day, and thank you for standing by. Welcome to the Tower Semiconductor fourth quarter 2025 earnings conference call and webcast. 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 the session, please press star one one on your telephone. You will then hear an automated message advising your hand is ...

Pershing Square Holdings (OTCPK:PSHZ.F) Update / briefing February 11, 2026 10:00 AM ET Company ParticipantsAhmed Beydoun - Principal and Chief Investment Decision-MakerAnthony Massaro - Investment TeamBharath Alamanda - Investment TeamCharles Korn - Investment TeamFeroz Qayyum - Investment TeamHarry Lloyd-Owen - DirectorRonald Hamilton-Swan is - Special Situations Equity Sales ProfessionalRupert Morley - ChairmanRyan Israel - Chief Investment OfficerTony Reading - Director of Investor RelationsWilliam Ackm ...

NETSTREIT Investor Presentation February 2026 1 Disclaimer This presentation contains 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. Such forward-looking statements include, without limitation, statements concerning our business and growth strategies, investment, financing and leasing activities, including estimated development costs, and trends in our business, including trends in th ...

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% [6][7] - EBITDA increased by 4.2% in Mexican peso terms to MXN 95 billion, and was up 6.9% at constant exchange rates [7] - 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 [8][9] - Free cash flow for the year 2025 reached MXN 82 billion, representing a nearly 40% year-on-year increase [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 [4][6] - Postpaid base grew by 8.4% year-on-year, with Brazil leading in postpaid net adds at 644,000 subscribers [5][6] - Fixed line segment connected 5,240 broadband accesses, with broadband revenue growth in Mexico rising from 2% to 4% [5][8] Market Data and Key Metrics Changes - The dollar depreciated against most currencies in the region, with a 2.3% decline against the Mexican peso [4] - The company experienced strong mobile service revenue growth of 6.2%, supported by postpaid revenue that was up 7.6% [7][8] 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 [14][17] - Management indicated a focus on reducing debt and preparing for potential consolidation opportunities in the region, particularly in light of changing competitive dynamics [41][66] Management's Comments on Operating Environment and Future Outlook - Management noted the uncertainty in the U.S. economic activity due to the government shutdown and its impact on employment and economic indicators [3] - The competitive landscape in Latin America is expected to consolidate, which could benefit the company as it prepares for potential opportunities [70][74] Other Important Information - The company disconnected 79,000 voice lines in the quarter, while its access lines exceeded 4.1 million at the end of December [5][6] - Comprehensive financing costs were roughly half those of the previous year, contributing to improved net profit [8] Q&A Session Summary Question: CapEx outlook for 2026 - Management targets CapEx to be around 14%-15% of revenues, approximately $6.8 billion to $7 billion [14][17] Question: Pre-tax non-operating expenses - Management acknowledged the increase in non-operating expenses and suggested further details could be provided later [21][25] Question: Competitive environment in Chile - Management explained their decision not to pursue the Telefónica deal due to regulatory complexities and indicated they remain competitive in Chile [31][32] Question: Capital allocation strategy - Management emphasized the importance of reducing debt while also considering shareholder returns through buybacks and dividends [41][66] Question: Impact of FX on results - Management discussed the complexities of managing multiple currencies and the importance of constant exchange rates for financial reporting [56][58] Question: Regulatory environment and consolidation in Latin America - Management expressed optimism about future consolidation in the market, particularly in mobile and fixed services [70][74] Question: Number portability trends in Brazil - Management attributed strong number portability trends to both NuCel and overall growth in revenues and subscriber quality [78][81] Question: Sustainability of broadband growth in Mexico - Management indicated confidence in sustaining broadband growth due to successful promotions and high customer satisfaction [86][87]

Inventrust Properties (NYSE:IVT) Q4 2025 Earnings call February 11, 2026 10:00 AM ET Speaker10Thank you for standing by, and welcome to InvenTrust's fourth quarter and full year 2025 earnings conference call. My name is Becky, and I will be your conference call operator today. Before we begin, I would like to remind our listeners that today's presentation is being recorded, and a replay will be available on the investors section of the company's website at inventrustproperties.com. All lines will be muted t ...