Financial Data and Key Metrics Changes - Clearway Energy delivered Adjusted EBITDA of $237 million for Q4 2025 and Cash Available for Distribution (CAFD) of $35 million, with full-year CAFD generation of $430 million, exceeding the midpoint of the original guidance range of $400 million-$440 million [17][18] - The company reiterated its 2026 CAFD guidance range of $470 million-$510 million, reflecting incremental contributions from closed and committed drop-downs and third-party acquisitions [18][19] Business Line Data and Key Metrics Changes - The renewables and storage segment experienced below median expectations in wind resources, while solar performance was impacted by the timing of debt service related to growth investments [17] - Flexible generation exhibited solid operational execution in line with budgeted expectations [17] Market Data and Key Metrics Changes - Hyperscaler demand significantly drove growth, with approximately 2 gigawatts of new Power Purchase Agreements (PPAs) signed in 2025, enhancing revenue contracting opportunities [5][8] - The pricing environment for PPAs has been favorable, with current pricing approximately double that of three years ago, indicating robust demand across various geographies [39][40] Company Strategy and Development Direction - Clearway Energy aims to achieve a CAFD per share target of $2.90-$3.10 by 2030, representing a 7%-8% compound annual growth rate (CAGR) from 2025 [5][12] - The company is focusing on proven technologies in strategic geographic markets, with a significant pipeline of storage projects expected to be cost-competitive [12][13] - Clearway plans to maintain a long-term payout ratio below 70% after 2030, with retained cash flows becoming a greater source of funding for investments [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to meet its 2030 targets, citing strong organic growth and a favorable M&A environment [26][29] - The management team highlighted the importance of maintaining operational excellence and high levels of plant availability, which contributed to exceeding financial guidance [18][19] Other Important Information - Clearway Energy raised $600 million in senior unsecured notes due in 2034, demonstrating strong credit quality and supporting long-term growth targets [21] - The company executed $50 million of opportunistic equity issuances, which were the least dilutive in its history, providing flexibility for future capital needs [22] Q&A Session Summary Question: M&A Outlook - The management noted that the current M&A environment is similar to the previous year, allowing for disciplined evaluation of opportunities that are accretive to existing growth [26][28] Question: PPA Pricing Environment - Management indicated that the pricing environment is robust across all geographies, with significant demand for new projects, and that they are not seeing observable price escalation [39][40] Question: Revenue Enhancement Opportunities - The company is executing new long-term unit-contingent PPAs, which will enhance the quality of earnings and provide a favorable risk profile for existing projects [78] Question: Interconnection Capacity and Hybridization - Clearway is exploring opportunities to co-locate battery storage at existing sites, particularly in solar projects, to enhance capacity and meet growing demand [82][84] Question: Deriva Acquisition Timeline - Management expects to close the Deriva acquisition well before the end of the first half of the year, with financing already in place [87]

Backblaze (NasdaqGM:BLZE) Q4 2025 Earnings call February 23, 2026 05:00 PM ET Company ParticipantsGleb Budman - Co-founder, CEO and ChairpersonMarc Suidan - CFOMimi Kong - Senior Director of Investor Relations and Corporate DevelopmentRustam Kanga - VP of ResearchConference Call ParticipantsEric Martinuzzi - Senior Research AnalystEthan Widell - AnalystIttai Kidron - Managing Director and Senior AnalystJason Ader - Equity Research Analyst and Co-Head of Technology GroupJeff Van Rhee - Partner and Senior Equ ...

Clearway Energy (NYSE:CWEN) Q4 2025 Earnings call February 23, 2026 05:00 PM ET Company ParticipantsAkil Marsh - Senior Director of Investor RelationsCraig Cornelius - President and CEOHannah Velásquez - VP and Equity ResearchHeidi Hauch - VPSarah Rubenstein - CFOConference Call ParticipantsAngie Storozynski - Senior Equity Research Analyst and US Utilites & PowerJustin Clare - Managing Director and Senior Research AnalystMark Jarvi - Equity Research AnalystNelson Ng - VP and Equity AnalystOperatorThank you ...

Hims & Hers Health (NYSE:HIMS) Q4 2025 Earnings call February 23, 2026 05:00 PM ET Company ParticipantsAndrew Dudum - Co-founder and CEOBill Newby - Head of Investor RelationsEric Percher - Partner of Pharma Supply Chain and Digital HealthGlen Santangelo - Managing DirectorMaria Ripps - Managing Director of Equity ResearchMark Mahaney - Senior Managing Director and Head of Internet ResearchYemi Okupe - CFOConference Call ParticipantsBrian Tanquilut - Senior Analyst of Healthcare Services and Digital Health ...

Financial Data and Key Metrics Changes - Q4 revenue reached $184 million, representing a 15% year-over-year growth, with full-year revenue growth at 19% [6][16] - Adjusted EBITDA for Q4 was $8 million, growing 36% year-over-year, while non-GAAP net loss was $1 million, which was favorable compared to guidance [16][18] - Auction assurance revenue constituted 55% of total revenue, growing 11% year-over-year, while marketplace services revenue grew 23% year-over-year [17] Business Line Data and Key Metrics Changes - Dealer wholesale business showed solid execution, with 193,000 vehicles sold in Q4 and a total of 86,000 units sold for the full year, marking a 12% increase year-over-year [5][6] - ACV Transport experienced a 20% revenue growth in Q4, delivering 110,000 transports [11] - ACV Capital reported a 48% year-over-year growth in Q4, despite reducing exposure to higher-risk customer segments [11] Market Data and Key Metrics Changes - The company achieved a franchise rooftop penetration of 35% during the year, with a 300 basis point increase in major account penetration [8] - Strong growth was noted in established regions, with specific emerging regions targeted for accelerated growth through increased territory management [10] Company Strategy and Development Direction - The company aims for low double-digit revenue growth and approximately 28% Adjusted EBITDA growth in 2026, supported by investments in growth initiatives [5][20] - The strategy focuses on three pillars: growth, innovation, and scale, leveraging AI to enhance marketplace experiences and drive dealer adoption [6][12] - The company is committed to expanding its addressable market and enhancing technology to improve resilience against market challenges [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating challenging market conditions and emphasized the importance of technology enhancements and operational models [21] - The outlook for 2026 remains cautious, with expectations of flat dealer wholesale market conditions, despite early signs of improvement [101] Other Important Information - The company ended Q4 with $270 million in cash and cash equivalents and $190 million in debt, indicating a solid capital structure [19] - Guidance for Q1 2026 anticipates revenue between $200 million and $204 million, with Adjusted EBITDA expected to be $14 million to $16 million [20] Q&A Session Summary Question: Insights on Q4 2025 units sold and ACV MAX adoption - Management acknowledged competitive pressures and market conditions affecting unit sales, while highlighting efforts to increase inspector numbers and regional management to drive growth [24][26] Question: Clarification on 2026 guidance and incremental margins - Management indicated that investments in inspectors and VIPER rollout are contributing to incremental costs, with expectations for market share growth in the latter half of 2026 [30][32] Question: AI risks and differentiation - Management emphasized that the company is an AI disruptor in the automotive space, integrating with various vendors to enhance dealer efficiency and market position [37][42] Question: Conversion rates and regional growth - Management reported improved conversion rates in Q4, attributing success to the no reserve auction offering and stricter seller policies [48][50] Question: VIPER rollout and key performance indicators - Management outlined the focus on helping dealers acquire more vehicles through VIPER, with plans for a broader rollout once initial objectives are met [90][92]

Allison Transmission (NYSE:ALSN) Q4 2025 Earnings call February 23, 2026 05:00 PM ET Company ParticipantsAngel Castillo - Executive DirectorCraig Price - President and Business Unit Leader of Off-Highway Drive & Motion SystemsDave Graziosi - Chair, President, and CEOFred Bohley - COO and Transmission Business Unit LeaderJackie Bolles - Executive Director of Treasury and Investor RelationsJerry Revich - Managing DirectorScott Mell - CFO and TreasurerTami Zakaria - Executive DirectorConference Call Participan ...

Financial Data and Key Metrics Changes - Total operating revenues for Q4 2025 were $103 million, a 6% decrease from $110 million in Q4 2024, primarily due to lower restaurant revenue and nine fewer O'Charley's locations [12][13] - Total operating expenses in Q4 2025 were $127 million, down from $132 million in the prior year, with a significant decrease in operating expenses by approximately 13% when excluding non-cash impairment charges [13][14] - For the full year 2025, total operating revenue was $424 million, compared to $453 million in 2024, reflecting lower restaurant locations and associated revenue [15] - The operating loss for 2025 was $119 million, compared to $104 million in 2024, influenced by non-recurring management charges and non-cash impairment charges [15][16] Business Line Data and Key Metrics Changes - The decrease in total operating revenues was primarily attributed to lower guest traffic in restaurants, despite higher average guest checks [12] - The company reported a $55 million tax refund expected in summer 2026, resulting from strategic sales of shares [4][16] Market Data and Key Metrics Changes - The performance of AFC Bournemouth, a key investment, was highlighted, with the team sitting in 8th place in the Premier League and generating over $400 million in transfer proceeds [6][8] - The company also acquired the remaining 60% of FC Lorient for approximately EUR 60 million, enhancing its strategic position in the multi-club model [7] Company Strategy and Development Direction - The company is focusing on transforming its portfolio to concentrate on sports and entertainment-related assets, where it has a competitive advantage [9][10] - A new set of strategic priorities has been established to enhance operating performance, increase transparency, and maintain disciplined capital returns [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed dissatisfaction with the current stock price, indicating that it does not reflect the intrinsic value of the company's assets [8][41] - The board is committed to evaluating and enhancing governance policies to align with best practices [11] Other Important Information - The company repurchased $323 million of stock, representing 28% of its shares outstanding, and increased its dividend by 25% to $0.15 per quarter [4][5] Q&A Session Summary Question: Potential monetizations across the portfolio - Management is reviewing individual assets for potential monetization, particularly focusing on sports and entertainment-related assets [18][20] Question: Outlook on JANA partnership - Management remains optimistic about the partnership with JANA and believes they will continue to source opportunities aligned with the strategic focus on sports and entertainment [22][24] Question: AI risks across the portfolio - Management has considered AI impacts and believes that most portfolio companies are well-positioned with long-term contracts, while also being proactive in implementing AI for efficiency [25][27] Question: Valuation of Black Knight Football Club - Management discussed the valuation framework and indicated that they are providing more detailed financials to help investors understand the value of their investments [30][33] Question: Investment in SpaceX - The investment in SpaceX is expected to be a source of cash over time, with significant value appreciation since acquisition [35][38]

Adeia (NasdaqGS:ADEA) Q4 2025 Earnings call February 23, 2026 05:00 PM ET Company ParticipantsChris Chaney - VP of Investor RelationsHamed Khorsand - Principal and Director of ResearchKeith Jones - CFOPaul Davis - President and CEOConference Call ParticipantsKevin Cassidy - Senior Research Analyst - SemiconductorsMatthew Galinko - SVP and Senior Equity Research Analyst - Technology and Special SituationsScott Searle - Managing Director, Senior Research Analyst - Wireless, Communications, and IoTOperatorGood ...

Kratos Defense & Security Solutions (NasdaqGS:KTOS) Q4 2025 Earnings call February 23, 2026 05:00 PM ET Company ParticipantsAnthony Valentini - VPAustin Moeller - Director of Equity ResearchBrock Cannon - Equity Research AssociateColin Canfield - DirectorDeanna Lund - EVP and CFOEric DeMarco - President and CEOGavin Parsons - Director of Aerospace and Defense Equity ResearchJacqueline Taylor - Managing DirectorJosh Sullivan - Managing Director of Equity ResearchKen Herbert - Managing DirectorMarie Mendoza - ...

BWX Technologies (NYSE:BWXT) Q4 2025 Earnings call February 23, 2026 05:00 PM ET Company ParticipantsChase Jacobson - Vice President of Investor RelationsJed Dorsheimer - Managing Director and the Group Head of Energy and Power TechnologiesMichael Ciarmoli - Managing DirectorMike Fitzgerald - CFORex Geveden - CEOScott Deuschle - Equity Research DirectorConference Call ParticipantsJeff Grampp - Managing Director and Senior Research AnalystJeffrey Campbell - Senior Equity Research AnalystMatt Akers - Senior E ...