Financial Data and Key Metrics Changes - The company reported adjusted earnings per share (EPS) of $2.06 for the first quarter of fiscal 2026, aligning with expectations [4] - Adjusted EBITDA increased by 29% compared to the prior year, driven by higher production and natural gas prices [4] Business Line Data and Key Metrics Changes - The integrated upstream and gathering business saw net production of 109 billion cubic feet (BCF), a 12% increase over the first quarter of fiscal 2025 [23] - The regulated businesses performed strongly due to a three-year rate settlement at the New York utility and a pipeline modernization tracker at the Pennsylvania utility [5][8] Market Data and Key Metrics Changes - Natural gas prices have shown significant volatility, with the February contract settling at nearly $7.50, a 140% increase from two weeks prior [15] - The company expects natural gas prices to remain in the $3-$5 range, influenced by structural demand from LNG exports and limited new infrastructure [28] Company Strategy and Development Direction - The company is focused on operational excellence and growth, with plans to expand Seneca's inventory and improve capital efficiency [6] - The Tioga Pathway project and shipping port lateral project are progressing well, with additional expansion opportunities anticipated [7] - The company is pursuing an acquisition of CenterPoint's Ohio LDC, expected to close in the fourth quarter of calendar 2026, which will enhance its regulated business [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the natural gas outlook, citing all-time high demand and bipartisan support for an all-of-the-above energy approach [5] - The company reaffirmed its adjusted EPS guidance range of $7.60-$8.10 for fiscal 2026, projecting a 14% growth over the previous year [22] - Management noted that the regulatory environment in Ohio is improving, which could facilitate future projects [21] Other Important Information - The company has a strong investment-grade balance sheet and expects to approach a net debt to EBITDA ratio of 1.75 times by the end of fiscal 2026 [17] - The company has executed a ten-year agreement to provide MIQ-certified methane reduction certificates, reinforcing its commitment to sustainability [29] Q&A Session Summary Question: Ability to take advantage of local price spikes - The company has a marketing portfolio that allows it to keep some gas available to take advantage of high local prices during cold weather [32][33] Question: Future growth projects in the pipeline business - Management indicated that there are additional opportunities for pipeline projects beyond the Tioga Pathway, given the favorable location of their pipelines [34][36] Question: Impact of federal permitting reform on pipeline projects - Management believes that permitting reform would expedite project development but does not expect it to change their overall view on pipeline development [39] Question: DNC costs of Seneca Gen 4 design - The Gen 4 design incurs additional costs due to wider inner well spacing and increased prop loading, estimated at $150-$175 per foot [40][41] Question: Optimal production growth rate - The company aims for a mid-single digit growth rate, contingent on interstate pipeline capacity and market conditions [47][49] Question: Co-development strategy for Upper Utica - The company is currently testing co-development strategies for Upper and Lower Utica, with plans to assess data from ongoing tests [62][64] Question: Incremental takeaway capacity from the basin - Management noted ongoing projects that will enhance takeaway capacity from the basin, which is crucial for reducing price volatility [73][75]

Origin Bancorp (NYSE:OBK) Q4 2025 Earnings call January 29, 2026 09:00 AM ET Company ParticipantsChris Reigelman - Head of Investor RelationsDrake Mills - Chairman, President and CEOJim Crotwell - CROLance Hall - President and CEOWally Wallace - CFOWoody Lay - VPConference Call ParticipantsNone - AnalystNone - AnalystNone - AnalystChris ReigelmanGood morning and thank you for joining us today. We issue our earnings press release every afternoon, a copy of which is available on our website, along with a slid ...

Silicom (NasdaqGS:SILC) Q4 2025 Earnings call January 29, 2026 09:00 AM ET Company ParticipantsEran Gilad - CFOKenny Green - Co-founder and DirectorLiron Eizenman - President and CEOConference Call ParticipantsGreg Weaver - AnalystJeff Hopson - AnalystOperatorLadies and gentlemen, thank you for standing by. Welcome to the Silicom Fourth Quarter 2025 Results Conference Call. All participants are at present in a listen-only mode. Following management's formal presentation, instructions will be given for the q ...

Financial Data and Key Metrics Changes - Hexcel achieved full-year sales of $1.894 billion, adjusted EPS of $1.76, and free cash flow of $157 million for 2025 [11][12] - In Q4 2025, sales were $492 million, up 3.7% from 2024, indicating a positive trend in commercial orders [12] - Gross margin for Q4 2025 was 24.6%, down from 25% in Q4 2024, primarily due to sales mix [23] Business Line Data and Key Metrics Changes - Commercial aerospace sales in Q4 were $299.5 million, a 7.6% increase compared to 2024, driven by growth in A320, 787, and 737 volumes [13] - Defense, space, and other segments saw sales of $191.8 million in Q4, down 1.9% from the same period in 2024, impacted by the divestment of the Austrian industrial business [14] Market Data and Key Metrics Changes - The backlog for commercial aircraft has exceeded 17,000, with a delivery shortfall of at least 5,300 aircraft, highlighting the supply-demand imbalance [4][5] - Aircraft production in 2025 was 1,503, about 87% of pre-pandemic levels, with expectations to fully recover to pre-pandemic levels in 2026 [8][21] Company Strategy and Development Direction - Hexcel is focused on developing advanced material solutions for next-generation aircraft, positioning itself to benefit from increased commercial aircraft production and defense funding [5][10] - The company initiated a $350 million accelerated share repurchase program, reflecting confidence in long-term growth [17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about a sustained ramp-up in commercial aircraft production rates and strong long-term demand in defense markets due to increasing budgets [4][10] - For 2026, Hexcel expects sales in the range of $2.0 billion to $2.1 billion, with adjusted EPS between $2.10 and $2.30, driven by increased operating leverage and disciplined cost control [21][22] Other Important Information - Hexcel announced a 6% increase in the quarterly dividend to $0.18 per share, reflecting a positive outlook on long-term growth [18] - The company closed a facility in Belgium and divested non-core businesses to streamline operations [14][15] Q&A Session Summary Question: Can you provide more detail on the growth expectations for commercial aerospace in 2026? - Management indicated that commercial aerospace growth is expected to be low to mid double digits, with specific assumptions for the A350 at about 80 units delivered in 2026, up from 57 in 2025 [38][39] Question: What are the expectations for incremental margins going forward? - Management expects mid-30s incremental margins, driven by operating leverage as production rates increase [66][67] Question: How will the company manage costs and hiring in 2026? - The company plans to maintain a low headcount initially, with selective hiring based on evidence of increasing production rates, particularly for the A350 [59][60] Question: What is the outlook for defense and space sales in 2026? - Defense sales are expected to grow low to mid single digits, while commercial aerospace is projected to grow low to mid double digits [85]

Financial Data and Key Metrics Changes - The company reported net income of $22.7 million or $0.79 per share for Q4 2025, a 21.5% increase compared to Q4 2024, resulting in record earnings per share for the year of $3.13 [3] - Loan outstandings grew by $129.3 million during Q4 2025, with a solid loan growth after pressures from early payoffs eased [3][4] - The reported net interest margin (NIM) decreased by 7 basis points to 3.10% compared to Q3 2025, while core NIM increased by 4 basis points to 3.37% [5] Business Line Data and Key Metrics Changes - Loans grew by $129.3 million during Q4 2025, or 7.6% annualized, while total loans for the full year increased by $88.2 million, or 1.3% [5][6] - Non-interest expense increased by $2.1 million, or 4.1% compared to Q4 2024, with total expenses for the year rising by $5 million, or 2.5% [6][7] - The company repurchased approximately 400,000 shares of common stock at an average cost of $32.17 per share during Q4 2025, with a total of 1.1 million shares repurchased in 2025 [7][8] Market Data and Key Metrics Changes - Deposits decreased by $130.8 million in Q4 2025, primarily due to a $198.8 million decrease in public funds, partially offset by an $84 million increase in consumer balances [6] - Total deposits grew by $328.1 million, or 4.9%, for the full year of 2025 [6] Company Strategy and Development Direction - The company expects loan growth of approximately 2%-3% and modest NIM expansion for 2026, targeting net interest income growth of approximately 4%-6% [8][9] - The provision for credit losses is expected to be in the range of $11 million-$13 million for 2026, driven by changes in economic forecasts and credit performance [9] - The company is focusing on deposit initiatives, including small business outreach and specific programs to capture deposits from various sectors [41][42] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about carrying momentum from 2025 into 2026, with expectations for continued strong performance [48] - The company anticipates a relatively stable environment with potential Fed rate decreases, which are not expected to materially impact net interest income due to overall asset-liability management neutrality [9] Other Important Information - The effective tax rate is expected to be in the range of 20%-21% based on current statutory rates [10] - The company has 2.3 million shares available for repurchase under the share repurchase plan, with a target of $10 million-$12 million in repurchases per quarter for 2026 [8] Q&A Session Summary Question: What is the seasonality for deposits in Q1? - The company expects $100 million-$150 million in public funds to flow out in Q1 and Q2, with significant portions of excess liquidity deployed over that time [15] Question: What is the expected trajectory for NIM over the year? - NIM is expected to be relatively in line to slightly up compared to Q4 2025, with overall expansion anticipated for 2026 [16] Question: What is the current state of deposit competition? - Competition remains, with slight increases noted, but the company has been successful in retaining CDs and managing deposit costs effectively [20] Question: Can you review the ag farmland portfolio? - The ag portfolio consists of smaller family farms with a conservative underwriting approach, and the company has a diversified business model supporting these loans [22] Question: What is the outlook for loan growth and prepayment activity? - The company anticipates a more stable prepayment environment similar to Q4 2025, with growth expected primarily in the commercial loan sector [30] Question: How is the buyback pace tied to balance sheet movements? - The buyback activity is guided by earnings and balance sheet growth, aiming to avoid significant growth in regulatory capital ratios [38]

Altria Group (NYSE:MO) Q4 2025 Earnings call January 29, 2026 09:00 AM ET Company ParticipantsBilly Gifford - CEOBonnie Herzog - Managing DirectorDamian McNeela - Head of Consumer ResearchEric Serotta - Executive DirectorFaham Baig - Executive DirectorMac Livingston - VP of Investor RelationsMatthew Smith - Managing DirectorPallav Mittal - VP of Equity ResearchSal Mancuso - CFOOperatorGood day, and welcome to the Altria Group 2025 fourth quarter and full year earnings conference call. Today's call is schedu ...

Financial Data and Key Metrics Changes - The special meeting confirmed the approval of the Merger Proposal, which is deemed fair and in the best interest of Kenvue and its stockholders [4][6] - The Advisory Compensation Proposal was also approved by Kenvue stockholders, indicating positive reception towards the compensation structure related to the merger [7] Business Line Data and Key Metrics Changes - Specific financial data and metrics for individual business lines were not disclosed in the meeting [1][2] Market Data and Key Metrics Changes - No specific market data or metrics were provided during the meeting [1][2] Company Strategy and Development Direction - The company is moving forward with a merger agreement with Kimberly-Clark, which is a significant strategic decision aimed at enhancing shareholder value [4][5] - The board unanimously recommends the adoption of the merger, indicating a strong alignment on strategic direction [5] Management Comments on Operating Environment and Future Outlook - Management did not provide detailed comments on the operating environment or future outlook during this meeting [1][2] Other Important Information - The meeting was conducted with a quorum of 78.2% of shares represented, ensuring that decisions made were valid and representative of stockholder interests [3] Summary of Q&A Session - There were no questions or answers recorded during this special meeting [1][2]

Financial Data and Key Metrics Changes - The return on equity for 2025 was 13.2%, exceeding initial guidance [5] - Total income reached a record level for the third consecutive year, with commercial net interest income (NII) at EUR 15.3 billion despite lower interest rates [5][6] - Net profit for the year was over EUR 6.3 billion, contributing almost two percentage points to the CET1 ratio [7] Business Line Data and Key Metrics Changes - The loan book grew by 8.3% in 2025, primarily driven by residential mortgages, while the deposit book increased by 5.5% [4] - Fee income grew by 15% year-on-year, with investment products seeing a 21% increase in fee income [5][6] - The number of Mobile Primary Customers increased by over 350,000 in Q4, totaling over 1 million for the year [4] Market Data and Key Metrics Changes - Customer deposit growth was 4.5% in 2025, supported by successful promotional campaigns [19] - The company maintained its number one position in retail banking in 5 out of 10 markets and ranked in the top three in all markets [7] Company Strategy and Development Direction - The company aims for total income to grow to around EUR 24 billion in 2026, supported by continued volume growth and a 5%-10% increase in fee income [9] - A focus on cost discipline and operational efficiency is evident, with projected operating expenses for 2026 in the range of EUR 12.6 billion to EUR 12.8 billion [9] - The company plans to issue between EUR 6 billion and EUR 8 billion of Holdco Senior in 2026, aligning with its issuance in 2025 [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength and quality of the loan book, with total risk costs in line with the through-the-cycle average [11] - The company remains committed to supporting clients in their sustainability transitions, with total sustainable volume mobilized reaching EUR 166 billion, a 28% increase year-on-year [5] - The outlook for 2027 includes expectations for total income to exceed EUR 25 billion, with a higher fee income target now expected to exceed EUR 5 billion [9] Other Important Information - The CET1 ratio decreased to 13.1% due to an additional distribution of EUR 1.6 billion [14] - The company has a stable liquidity profile, with over two-thirds of the balance sheet funded by customer deposits [19] Q&A Session Summary Question: Plans for tapping the ECB, MROs, and LTROs - Management stated that the company prefers to be self-sufficient and does not want to rely on central bank operations, but may consider them for economic reasons if necessary [25][26]

Financial Data and Key Metrics Changes - The company reported adjusted earnings per share (EPS) of $2.06 for Q1 2026, aligning with expectations and reflecting a solid start to the fiscal year [5][13] - Adjusted EBITDA increased by 29% compared to the prior year, driven by higher production and natural gas prices [5] - The company reaffirmed its adjusted EPS guidance range for the fiscal year at $7.60-$8.10, with a midpoint of $7.85 [15] Business Line Data and Key Metrics Changes - The integrated upstream and gathering segment saw net production of 109 billion cubic feet (BCF), a 12% increase over Q1 2025 [24] - The utility business filed a new rate case requesting a $20 million increase in rates, which would result in an approximate 11% increase in customer bills if approved [9][10] - The regulated businesses benefited from a three-year rate settlement at the New York utility and a pipeline modernization tracker at the Pennsylvania utility [6] Market Data and Key Metrics Changes - Natural gas prices have shown significant volatility, with the February contract settling at nearly $7.50, a 140% increase from two weeks prior [16] - The company anticipates a price environment for natural gas in the $3-$5 range, supported by strong structural demand from LNG exports and power generation [29] Company Strategy and Development Direction - The company is focused on operational excellence and growth, with plans to expand Seneca's inventory and improve capital efficiency [7] - The Tioga Pathway project and Shippingport Lateral project are progressing well, with expectations for additional expansion opportunities [8] - The company is optimistic about the Ohio utility acquisition, which is expected to close in Q4 2026, enhancing its growth potential [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong outlook for natural gas demand, citing bipartisan support for an all-of-the-above energy approach [6] - The company noted that pricing fluctuations are expected to persist, but its hedge book provides downside protection for 70% of remaining production [16] - Management highlighted the importance of building more pipeline infrastructure to alleviate price volatility in the Northeast [55] Other Important Information - The company completed a $350 million private placement of common stock to satisfy equity needs for the Ohio utility acquisition [11][19] - The Ohio regulatory environment is improving, with new laws expected to shorten the rate case timeline and provide greater certainty in achieving allowed returns [22] Q&A Session Summary Question: Ability to take advantage of local price spikes - Management confirmed they keep a portion of gas available to capitalize on high local prices during extreme weather events [34] Question: Future growth projects in the pipeline business - Management indicated there are additional opportunities for pipeline projects beyond those currently announced, given the strategic location of their pipelines [37] Question: Impact of federal permitting reform on pipeline projects - Management believes permitting reform would expedite project development but does not fundamentally change their view on pipeline development [40] Question: Optimal production growth rate - Management stated that mid-single digit growth (3%-7%) is the target, contingent on interstate pipeline capacity and market conditions [50] Question: Co-development strategy for Upper Utica - Management is currently testing co-development strategies and remains flexible based on data and results from ongoing projects [64][65] Question: Incremental takeaway capacity from the basin - Management noted ongoing projects that will enhance takeaway capacity and expressed optimism about future infrastructure developments [76][77]

Blackstone (NYSE:BX) Q4 2025 Earnings call January 29, 2026 09:00 AM ET Company ParticipantsBen Budish - DirectorBrian Bedell - Director of Equity ResearchCraig Siegenthaler - Managing DirectorJon Gray - President and COOMichael Chae - Vice Chairman and CFOMike Brown - Assistant VP and Investment AssociatePatrick Davitt - PartnerSteve Schwarzman - Chairman, CEO and CO-FounderSteven Chubak - Director of Equity ResearchWeston Tucker - Head of Shareholder RelationsConference Call ParticipantsAlex Blostein - Se ...