Financial Data and Key Metrics Changes - Total shipments in Q4 2025 were 3.8 million tons, slightly lower than Q3 due to seasonal impacts, with expectations for Q1 2026 to improve back to 4 million tons [15] - Q4 price realization was $993 per net ton, down by approximately $40 per net ton, but a substantial improvement in realized prices is expected starting in Q1 2026, with an anticipated increase of about $60 per ton [16][30] - Unit costs decreased by $40 per ton in 2025, marking the third consecutive year of reductions, with further expectations of a $10 per ton decrease in 2026 [16][17] Business Line Data and Key Metrics Changes - The company has shifted melting capacity from low-margin slabs to higher-margin flat-rolled products, anticipating continued demand for domestically produced slabs [5] - Multi-year fixed-price contracts with major automotive OEMs have been signed, increasing market share and securing high-margin business for 2026 [7][9] Market Data and Key Metrics Changes - The Canadian government has implemented restrictions on imported steel, positively impacting the Canadian subsidiary Stelco and improving pricing and shipments [4][12] - The U.S. market is benefiting from Section 232 tariffs at 50%, driving demand for domestically produced steel and reducing import competition [4][20] Company Strategy and Development Direction - The company is focused on leveraging existing production capacity without the need for new plants, positioning itself to benefit from the anticipated increase in domestic vehicle production [8][10] - The strategic partnership with POSCO aims to enhance collaboration and meet U.S. trade requirements, with a definitive agreement targeted for the first half of 2026 [13][52] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the improving business environment, citing a solid order book, rising prices, and declining costs as key factors for profitability in 2026 [20][21] - The company is committed to maximizing profitability through operational efficiency and strategic partnerships, with a focus on the automotive sector [20][21] Other Important Information - The company achieved its lowest total recordable incident rate in 2025, reflecting significant improvements in safety performance [14] - Capital expenditures in 2025 were a record low at $561 million, with projections for 2026 to be around $700 million, reflecting normalized maintenance capital [18] Q&A Session Summary Question: Expected benefits from the cancellation of the slab contract - Management expects an EBITDA improvement of approximately $500 million from the cancellation of the slab contract, with benefits starting in Q1 but more pronounced in Q2 and Q3 [26][30] Question: CapEx expectations beyond 2026 - CapEx for 2026 is projected at $700 million, with expectations to rise to $900 million in 2027 due to a blast furnace reline, then returning to $700 million in 2028 [34] Question: Open capacity and potential EBITDA sensitivity - The company has significant downstream capacity available, with the need for increased domestic automotive production to fully utilize this capacity [39] Question: Outlook for Q1 and pricing expectations - Shipments are expected to return to 4 million tons in Q1, with ASP anticipated to increase by $60 per ton, driven by improved demand and pricing dynamics [43][44] Question: Impact of Stelco on earnings and market dynamics - Stelco's performance in 2025 was disappointing due to market conditions, but improvements are expected in 2026 as Canadian pricing stabilizes [60][64]

Pagaya Technologies (NasdaqCM:PGY) Q4 2025 Earnings call February 09, 2026 08:30 AM ET Speaker2Please note this conference is being recorded. I will now turn the conference over to Josh Fagen, Head of Investor Relations and COO of Finance. Thank you, you may begin.Speaker1Thank you, and welcome to Pagaya's fourth quarter and full year 2025 earnings conference call. Joining me today to talk about our business and results are Gal Krubiner, Chief Executive Officer of Pagaya; Sanjiv Das, President; and Evangelo ...

Financial Data and Key Metrics Changes - Revenue grew by 27% year-over-year, reaching $1.232 billion for fiscal year 2025, with Q4 revenue at $334 million, up 25% from the previous year [4][11] - Operating margin for fiscal year 2025 was 14%, with Q4 operating margin at 13% [4][12] - Net income for Q4 was $55 million, down from $57.3 million in Q4 2024, while fiscal year 2025 net income increased to $233.6 million from $183.3 million in fiscal year 2024 [13][14] - Adjusted free cash flow for Q4 was $56.7 million, with a margin of 17%, and for fiscal year 2025, it was $322.7 million, with a margin of 26% [14][15] Business Line Data and Key Metrics Changes - Customers with more than $50,000 in ARR now represent 41% of total ARR, indicating strong expansion within existing accounts [4] - Customers with over 500K in ARR grew by 74% year-over-year, highlighting success in enterprise-scale deployments [5] - The no-touch channels faced challenges in demand, particularly among smaller customers, affecting customer acquisition costs [5] Market Data and Key Metrics Changes - The company noted a choppy demand environment in no-touch channels, particularly impacting smaller customers, which is expected to persist into 2026 [5][20] - The overall net dollar retention (NDR) was stable at 110% for Q4 and is expected to remain flat for fiscal year 2026 [11][20] Company Strategy and Development Direction - The company is transitioning to an AI-powered work execution platform, focusing on AI Agents, AI Workflows, and Monday Vibe to enhance customer engagement and productivity [7][9] - The strategy includes shifting investments towards higher ROI opportunities that drive demand for larger customers [5] - The company aims to lead in the AI landscape, leveraging its platform to embed intelligence deeply across workflows [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's fundamentals despite a challenging macroeconomic environment, emphasizing a disciplined approach to execution [16][20] - The guidance for fiscal year 2026 reflects expected revenue growth of 18%-19%, with operating margins projected at 11%-12% [17] - Management acknowledged the impact of the Israeli shekel's appreciation on margins, contributing to a negative FX impact of 100-200 basis points [12][31] Other Important Information - The company ended Q4 with $1.5 billion in cash and cash equivalents, reflecting a share repurchase of $135 million during the quarter [14] - Employee headcount increased to 3,155, with expectations for mid-teens percentage growth in fiscal year 2026, focusing on sales and R&D investments [14] Q&A Session Summary Question: Growth outlook for 2026 - Management indicated that guidance reflects current conditions without assuming a rebound in performance marketing, focusing on upmarket and enterprise customer expansion [19][20] Question: Sidekick monetization strategy - Sidekick is offered as a paid add-on for pro and below packages, with plans for further monetization as it provides significant value to customers [23] Question: Impact of customer acquisition costs - Management noted that the headwind in performance marketing affects smaller customers, while larger customers continue to show strong momentum [26][28] Question: Guidance for operating margins - The guidance reflects achievable numbers given the current macro environment, with a focus on disciplined investment and efficiency improvements [29][31] Question: Dynamics of the no-touch business - Management acknowledged ongoing choppiness in the no-touch segment, impacting overall performance, particularly among smaller customers [51][56] Question: Customer retention and churn - Gross retention for the $50K+ cohort is at 91%, with management confident in maintaining and improving this figure through product offerings [82]

Sally Beauty Holdings (NYSE:SBH) Q1 2026 Earnings call February 09, 2026 08:30 AM ET Speaker3Good morning, everyone, and welcome to the Sally Beauty Holdings conference call to discuss the company's first quarter fiscal 2026 results. All participants have been placed in a listen-only mode. After management's prepared remarks, there will be a question-and-answer session. Additional instructions will be given at that time. Now I would like to turn the call over to Jeff Harkins, Vice President of Investor Rela ...

Waters (NYSE:WAT) Q4 2025 Earnings call February 09, 2026 08:30 AM ET Speaker1This call is being recorded. If anyone has any objections, please disconnect at this time. It is now my pleasure to turn the call over to Mr. Caspar Tudor, Head of Investor Relations. Please go ahead, sir.Speaker0Thank you, Leila, and good morning, everyone. Welcome to Waters Corporation's fourth quarter earnings call. Joining me today are Dr. Udit Batra, our President and Chief Executive Officer, and Amol Chaubal, our Senior Vice ...

PowerFleet (NasdaqGM:AIOT) Q3 2026 Earnings call February 09, 2026 08:30 AM ET Speaker0Please note this conference is being recorded. I will now turn the conference over to your host, Carolyn Capaccio of Alliance Advisors IR. You may begin.Speaker7Thanks, operator. Good morning, everyone. This presentation contains forward-looking statements within the meaning of federal securities laws. Forward-looking statements include statements with respect to Powerfleet's beliefs, plans, goals, objectives, expectation ...

Inotiv (NasdaqCM:NOTV) Q1 2026 Earnings call February 09, 2026 08:30 AM ET Speaker7Please be advised that today's call is being recorded. We are standing by should you need any assistance. I'd now like to turn the call over to Stefan Halper with LifeSci Advisors. Please go ahead.Speaker6Thank you, Jamie, and good morning, everyone. Thank you for joining today's quarterly call with Inotiv's management team. Before we begin, I'd like to remind everyone that some of the statements that management will make on ...

Kyndryl (NYSE:KD) Q3 2026 Earnings call February 09, 2026 08:30 AM ET Speaker3Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Lori Chaitman, Global Head of Investor Relations. Please go ahead.Speaker7Good morning, everyone, and welcome to Kyndryl's earnings call for the third fiscal quarter ended December 31, 2025. Before we begin, I'd like to remind you that our remarks today include forward-looking statements. These sta ...

Anavex Life Sciences (NasdaqGS:AVXL) Q1 2026 Earnings call February 09, 2026 08:30 AM ET Speaker1Good morning, everyone, and welcome to the Anavex Life Sciences Fiscal 2026 First Quarter Conference Call. My name is Clint Tomlinson, and I will be your host for today's call. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session, and during this session if you would like to ask a question please use the Q&A box or raise your hand. Please note this confere ...

Financial Data and Key Metrics Changes - The company reported an organic net sales decline of 7% year-over-year, driven by lower sales in both North America and international segments [15] - Adjusted gross margin decreased to 19.5%, a drop of approximately 340 basis points year-over-year, primarily due to cost inflation and lower volume mix [15][16] - Adjusted EBITDA was $24 million, down from $38 million a year ago, reflecting lower gross margins [17][18] Business Line Data and Key Metrics Changes - In North America, organic net sales declined 10% year-over-year, primarily due to lower volume in snacks and baby formula, with adjusted gross margin at 20.8%, a decrease of 440 basis points [18][19] - The international segment saw a 3% decline in organic net sales, with adjusted gross margin at 18.1%, a 200 basis point decrease [19][20] - Snacks organic net sales were down 20% year-over-year, while the baby and kids segment saw a 14% decline [20] Market Data and Key Metrics Changes - North American snacks represented 22% of the company's net sales in fiscal 2025 and 38% of the North America segment's net sales, with negligible EBITDA contribution over the last 12 months [8][12] - The core categories in North America, including tea, yogurt, and baby foods, showed stability and growth potential despite challenges in other areas [12][18] Company Strategy and Development Direction - The company is executing a strategic review aimed at simplifying its portfolio, enhancing financial flexibility, and maximizing shareholder value [5][9] - A definitive agreement was reached to sell the North American snacks business for $115 million, with proceeds intended to reduce debt and strengthen the financial position [6][7] - The focus will shift to three flagship categories: tea, yogurt, and baby and kids, while continuing to develop the meal prep platform [8][9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the turnaround strategy, highlighting improvements in operational execution and cash flow [12][14] - The company anticipates stronger top and bottom-line performance in the second half of the year, driven by ongoing initiatives and innovation [27][29] - Management acknowledged near-term pressures but emphasized the importance of strategic actions to drive sustainable growth [12][14] Other Important Information - Free cash flow in the second quarter was $30 million, an increase of 22% compared to the previous year [22] - The company has reduced net debt by $32 million, bringing total net debt to $637 million [23][24] - The strategic review includes plans for further asset sales and operational improvements to enhance financial flexibility [25] Q&A Session Summary Question: Details on the decision to divest the snacks portfolio - Management explained that the decision was part of a strategy to simplify the portfolio and focus on categories where the company has strengths, noting that snacks had become financially challenged [34][35] Question: Reallocation of innovations post-divestiture - Management confirmed plans to mitigate stranded costs of $20 million-$25 million and emphasized that freed resources would support innovation in remaining categories [41][42] Question: Cash generation from the snacks business - Management indicated that the snacks business was not a significant cash generator, and the divestiture would improve overall cash generation capabilities [45] Question: Future growth in the baby and kids business - Management expressed confidence in returning to growth in the baby and kids segment, particularly after cycling past challenges and launching new products [84][85]