ViO 234 Apartment Homes San Jose, CA F O U R T H Q U A R T E R 2 0 2 5 C R E D I T U P D A T E S E L E C T E D R A T I O S & C R E D I T R A T I N G S | Public Bond Covenants(1) | | | & Selected Credit Ratios | | | | | --- | --- | --- | --- | --- | --- | --- | | Q4 '25 | | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Covenant | | Debt to Total Assets | 35% | 34% | 35% | 35% | 35% | < 65% | | Secured Debt to Total Assets | 4% | 4% | 4% | 5% | 5% | < 40% | | Interest Coverage | 510% | 517% | 524% | 532% | 540% | > 150 ...

Barrick Mining (NYSE:GOLD) Q4 2025 Earnings call February 05, 2026 11:00 AM ET Speaker11Welcome everyone to Barrick's fourth quarter 2025 results presentation. At this time, all participants are in listen-only mode. As a reminder, this event is being recorded, and a replay will be available on Barrick's website later today. I will now turn the call over to Cleve Rueckert, Head of Investor Relations. Please go ahead.Speaker2Thank you, Mariana, and good morning, everyone. We hope you've had an opportunity to ...

RBC Bearings (NYSE:RBC) Q3 2026 Earnings call February 05, 2026 11:00 AM ET Speaker3Good morning, and thank you for joining us for RBC Bearings Fiscal Third Quarter 2026 earnings call. I'm Josh Carroll with the investor relations team. With me on today's call are Dr. Hartnett, Chairman, President, and Chief Executive Officer; Daniel Bergeron, Director, Vice President, and Chief Operating Officer; Rob Sullivan, Vice President and Chief Financial Officer. As a reminder, some of the statements made today may b ...

Globe Life (NYSE:GL) Q4 2025 Earnings call February 05, 2026 11:00 AM ET Speaker7Hello, and welcome to Globe Life Inc.'s fourth quarter earnings release call. My name is Jim. I will be your coordinator for today's event. Please note this call is being recorded, and all phone lines have been placed in a listen-only mode to prevent any potential background noise. Also, if you would like to ask a question during today's question and answer session, simply press Star and the digit One on your telephone keypad. ...

O’Reilly Automotive (NasdaqGS:ORLY) Q4 2025 Earnings call February 05, 2026 11:00 AM ET Speaker4Welcome to the O'Reilly Automotive Inc. fourth quarter and full year 2025 earnings call. My name is Matthew, and I'll be your operator for today's call. At this time, all participants are on a listen-only mode. Later, we'll conduct a question-and-answer session. During the question-and-answer session, if you have a question, please press star 1 on your touch-tone phone. I will now turn the call over to Jeremy Fle ...

Financial Data and Key Metrics Changes - Ares Management achieved a record $994 million in management fees for Q4 2025, totaling $3.7 billion for the full year, representing a 27% increase quarter-over-quarter and a 25% increase year-over-year [28] - Fee-related earnings (FRE) for the full year increased by 30% compared to the prior period, with a record FRE of $528 million in Q4, reflecting a 33% year-over-year growth [31] - Realized income for Q4 reached a record $589 million, with full-year realized income exceeding $1.8 billion, marking a 26% increase from 2024 [34] Business Line Data and Key Metrics Changes - The wealth management business saw AUM grow to over $66 billion, a 69% increase year-over-year, driven by strong performance across semi-liquid wealth products [7][22] - The real estate group raised more than $16 billion for the year, including over $7 billion in Q4, with significant commitments in various real estate strategies [18] - The secondaries group raised $12.9 billion for the full year, with AUM increasing by 45%, nearly doubling in size since the acquisition of Landmark [21] Market Data and Key Metrics Changes - Ares Management's total AUM reached over $622 billion, a 29% increase year-over-year, with $113 billion in total fundraising for 2025 [5] - The company reported a record $46 billion in deployment for Q4, with full-year gross deployment totaling $146 billion, a 37% increase over 2024 [6] - The private equity business reported organic portfolio company EBITDA growth of 13% for the last 12 months in its latest fund, ACOF Six [10] Company Strategy and Development Direction - Ares Management is focused on expanding its investment platform and geographic reach, with significant investments in new data systems and AI projects to enhance decision-making and operational efficiency [7][8] - The acquisition of GCP has positioned Ares as a global top three owner and operator of industrial real estate, contributing to the growth of its real estate and digital infrastructure offerings [7] - The company aims to leverage its diverse strategies across asset classes and geographies to capture growth opportunities, particularly in real assets and secondaries [68] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the improving transaction environment and pent-up demand for private equity sponsors seeking liquidity solutions, supported by a large inventory of seasoned assets and an improving interest rate environment [12][13] - The company anticipates 2026 to be a significant year for realizing European-style performance fees, with expectations for substantial growth in fee-related performance revenues [28] - Management highlighted strong fundamentals across credit portfolios, with loan-to-value ratios near historical lows and improving interest coverage [34][43] Other Important Information - Ares Management declared a 20% year-over-year increase in its first quarter 2026 common dividend to $1.35 per share [3] - The company has a substantial dry powder of $156 billion, positioning it well for future investments [27] - Ares is well-prepared to navigate market challenges, including potential risks from AI disruptions, with a diversified portfolio and strong fundamentals [42][43] Q&A Session Summary Question: Impact of software AI disruption on deployment efforts - Management expressed confidence in their software investments, emphasizing the diversification and stability of their portfolio, and noted that the disruption would not significantly impact overall origination volumes [47][50] Question: Wealth channel performance and sentiment - Management reported strong flows in January and February, with broad-based demand across private credit and core infrastructure products, indicating resilience in the wealth channel despite some cyclicality [54][59] Question: Outlook for real assets and secondaries - Management highlighted ongoing growth in real estate and secondaries, with expectations for significant fundraising and deployment opportunities in these areas [64][71]

ConocoPhillips 4Q25 Earnings Conference Call Feb. 5, 2026 Cautionary Statement This presentation contains fouvarol-boshing statements as odefined under the fected securities aws: Forward-looking statements redate to findusling, without limitation, st strateen, budoets, projected revenues, costs and plans, colore coreations and other aspects of our operations and other aspects of our operations or operations or operatio continus, " could," "effort" "esfinate; " expect," "qoulance;" inney," "objective," outco ...

NOV (NYSE:NOV) Q4 2025 Earnings call February 05, 2026 11:00 AM ET Speaker2day, and thank you for standing by. Welcome to the NOV fourth quarter 2025 earnings conference call. At this time, all participants are on a listen-only mode. After the speaker's presentation, there'll be a question-and-answer session. To ask a question during the session, you will need to press star one one on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please pres ...

Financial Data and Key Metrics Changes - Sales for fiscal year 2025 were reported at $54.4 billion, reflecting a 2.1% increase compared to the previous year [33] - Operating cash flows for the full year reached $2.2 billion, significantly exceeding capital expenditures of $978 million and dividends of $697 million [34] - The company ended the year with $3.7 billion in liquidity and a net leverage ratio of 2.1 times, which is an improvement of half a turn compared to the previous year [34] Business Line Data and Key Metrics Changes - Tyson Foods continues to be a leader in protein production, producing one in every five pounds of chicken, beef, and pork in the United States [37] - The company has three of the top ten protein brands in the U.S., including Tyson, Jimmy Dean, and Hillshire Farm, which are gaining market share in both volume and dollars [38] Market Data and Key Metrics Changes - Demand for protein products is increasing as consumers prioritize protein in their diets, supported by new U.S. dietary guidelines [37] - Tyson's branded products are outperforming the broader food category in both retail and food service, indicating a strong competitive advantage [38] Company Strategy and Development Direction - The company is focused on improving operational execution and driving better financial performance through disciplined capital management and investment [33][39] - Tyson Foods aims to continue defining the protein industry and capitalize on future opportunities while maintaining financial strength [40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's cash flows and the ability to return value to shareholders through dividends and share repurchases [34][35] - The leadership emphasized the importance of team member development and operational expertise as central to the company's culture and long-term success [39] Other Important Information - The annual dividend per Class A share is expected to increase to $2.04, marking the 14th consecutive year of dividend increases [35] - The company is committed to transparency and ethical standards in its operations, particularly regarding community and environmental responsibilities [25][30] Q&A Session Summary Question: Shareholder proposal on voting results disclosure - The proposal requesting the board to adopt a policy for disclosing voting results by class of shares received a minority of votes and was defeated [19] Question: Shareholder proposal on environmental impacts from waste lagoons - The proposal seeking disclosure on environmental and human health impacts from waste lagoons also received a minority of votes and was defeated [26] Question: Shareholder proposal on immigration practices impact - The proposal assessing the impact of U.S. immigration law changes on the company's finances and operations received a minority of votes and was defeated [31]

Financial Data and Key Metrics Changes - The company reported GAAP EPS of $3.98 for 2025, including $0.12 of merger-related transaction costs, and adjusted EPS of $4.10, a 5% increase from $3.91 in 2024 [11][12] - Operating and financing expenses increased, with O&M expenses rising by $0.36 per share, primarily due to higher employee costs and unplanned generation outages [12][13] - The company maintained a healthy balance sheet with a net debt to total capitalization of 55% and FFO to debt of 14%-15%, above the downgrade threshold [14] Business Line Data and Key Metrics Changes - The company achieved strong earnings through new base rates and rider recovery, with $0.95 per share from new rates and ongoing customer growth [12][13] - The data center pipeline was tripled to over 3 gigawatts, with significant demand from large customers like Microsoft and Meta [4][7] Market Data and Key Metrics Changes - The company anticipates delivering 6% year-over-year earnings growth in 2026, driven by customer growth and data center demand [6][15] - The company is actively pursuing additional data center pipeline demand that could contribute to earnings over time [16][25] Company Strategy and Development Direction - The company is committed to a customer-centric strategy, focusing on regulatory progress and capital investments to meet growing customer demand [6][9] - The strategic merger with NorthWestern Energy is expected to enhance capabilities and create long-term value through increased scale and improved customer diversity [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving financial commitments and maintaining a strong investment-grade credit rating, with expectations for continued growth in customer demand and regulatory approvals [11][16] - The company is preparing for a rate review in South Dakota to recover investments and increased costs, marking the first change in base rates in over a decade [24] Other Important Information - The company increased its dividend for the 56th consecutive year in 2025, targeting a payout ratio of 55%-65% [17] - The company completed the 260-mile Ready Wyoming transmission project, enhancing reliability and access to market energy [20][21] Q&A Session Summary Question: Proportion of the 3-gigawatt pipeline within the five-year window - Management indicated that 600 MW is expected by 2030, with additional demand anticipated beyond that timeframe [35][36] Question: Interface with the Montana Commission regarding the merger - Management stated they are in the discovery phase with the Montana Commission, receiving expected questions and information requests [40] Question: Scale of data centers in the pipeline - Management confirmed that Microsoft and Meta are the primary customers, with ongoing negotiations for additional large-scale data centers [41][42] Question: Regulatory filings for the Crusoe Tallgrass project - Management explained that the customer would pay for construction to alleviate risk and costs, and they are evaluating how to serve the load with various resources [50][56] Question: Timing for signing agreements for the Crusoe project - Management noted that the customer intends to begin taking service in Q1 2027, and they are working to align timelines [61]