PoolCorp (NasdaqGS:POOL) Q4 2025 Earnings call February 19, 2026 11:00 AM ET Company ParticipantsDavid MacGregor - CEO, President and Director of ResearchEthan Roberts - Research AssociateGarik Shmois - Managing DirectorMelanie Hart - CFOPete Arvan - CEORyan Merkel - Co-Group Head–IndustrialsConference Call ParticipantsDaniel Hultberg - Associate AnalystDavid Manthey - Senior Research AnalystSusan Maklari - Senior Equity Research AnalystOperatorGood day, and welcome to the Pool Corporation Fourth Quarter 20 ...

Cenovus Energy (NYSE:CVE) Q4 2025 Earnings call February 19, 2026 11:00 AM ET Company ParticipantsDrew Dahlin - EVP and Chief Operating OfficerEric Nuttall - EVPGreg Pardy - Managing Director and Head of Global Energy ResearchJeff Murray - EVPJon McKenzie - CEOKam Sandhar - CFOManav Gupta - Executive DirectorNeil Mehta - Head of Americas Natural Resources Equity ResearchPatrick Read - VP of Investor Relations and Internal AuditTravis Wood - Managing Director of Equity ResearchConference Call ParticipantsDen ...

ONE Gas (NYSE:OGS) Q4 2025 Earnings call February 19, 2026 11:00 AM ET Company ParticipantsChris Sighinolfi - CFOCurtis Dinan - President and COOErin Dailey - VP of Investor RelationsSid McAnnally - CEOConference Call ParticipantsDavid Arcaro - AnalystGabe Moreen - AnalystPaul Zampardo - AnalystOperatorGood day, everyone. ONE Gas fourth quarter and year-end 2025 earnings conference call and webcast will begin shortly. Good day, and welcome to the ONE Gas fourth quarter and year-end 2025 earnings conference ...

Financial Data and Key Metrics Changes - Distributable Earnings for Q4 2025 were reported at $4.6 million, or $0.28 per share, with an adjusted figure of $0.31 per share when accounting for the rights offering dilution [4][16] - The company raised $61.5 million in net proceeds from a rights offering, increasing investment capacity by over $200 million [4][5] - For the full year of 2025, distributable earnings were $1.21 per share, with a run rate annual dividend of $1.12 per share, representing a 93% payout ratio [16][19] Business Line Data and Key Metrics Changes - The loan portfolio increased by $83 million year-over-year, reaching total commitments of $724.5 million across 24 floating-rate first mortgage loans [8] - The weighted average all-in yield was reported at 7.92%, with a weighted average risk rating improving to 2.8 [8] - The company invested in three new loans totaling $101.3 million during Q4 2025, including loans secured by student housing, a hotel, and an industrial property [5][7] Market Data and Key Metrics Changes - Market conditions improved in Q4 2025, with two additional 25 basis point rate cuts, bringing the target Fed funds rate to 350-375 basis points [11] - Office transaction volume increased by 25% year-over-year, indicating a recovery in the market [12] - Demand for short-term floating rate bridge loans remains strong, with a broad range of transactions being evaluated [13][14] Company Strategy and Development Direction - The company aims to capitalize on middle-market lending opportunities with enhanced liquidity following the rights offering [9] - There is a focus on deploying capital selectively into attractive opportunities across various property types and geographies [13] - The strategy remains centered on senior secured positions, avoiding riskier junior tranches for the time being [26] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about transaction activity continuing to increase in 2026, driven by improving market conditions and increased financing activity [12][13] - The company expects first quarter distributable earnings to be in the range of $0.22 to $0.24 per share, with a temporary drag on earnings due to the rights offering [18] - The expectation is to reach close to $1 billion in total loan portfolio size by year-end 2026, with quarterly new originations targeted at $200 million [34] Other Important Information - The company ended Q4 2025 with $123 million in cash and extended the maturities of two secured financing facilities, increasing capacity to $377 million [19][20] - The CECL reserve remains modest at 130 basis points of total loan commitments, indicating a conservative risk profile [19] Q&A Session Summary Question: How is the company finding pockets of inefficiency in the current competitive environment? - Management noted that while multifamily contributes significantly to activity, they are focusing on sectors like storage, industrial, and medical office for better risk-adjusted returns [24][25] Question: Are there opportunities outside of the first lien space being evaluated? - Management confirmed that the focus remains on senior secured positions, with no current plans to explore mezzanine or preferred equity [26] Question: Does the distributable EPS guidance assume full deployment of the rights offering capital? - Management clarified that the guidance does not assume full deployment by the end of Q1, but expects earnings to recover by year-end [29] Question: Is the current dividend secure through the end of 2026? - Management affirmed commitment to the $0.28 per quarter dividend, despite temporary earnings drag from the rights offering [33] Question: What is the expected portfolio growth following the rights offering? - Management anticipates reaching close to $1 billion in total loan portfolio size by year-end, with significant new originations expected in the coming quarters [34]

Taseko Mines (NYSEAM:TGB) Q4 2025 Earnings call February 19, 2026 11:00 AM ET Company ParticipantsBrian Bergot - VP of Investor RelationsBryce Hamming - CFODalton Baretto - Managing Director of Equity ResearchRichard Tremblay - COOStuart McDonald - CEOConference Call ParticipantsNone - AnalystOperatorLadies and gentlemen, thank you for standing by. My name is Jericho, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Taseko Mines 2025 Q4 Earnings Conference Ca ...

CF Industries (NYSE:CF) Q4 2025 Earnings call February 19, 2026 11:00 AM ET Company ParticipantsBert Frost - SVP of Sales and Market DevelopmentChris Bohn - President and CEOMartin Jarosick - Vice President of Investor RelationsRich Hoker - VP of Interim CFO and Chief Accounting OfficerConference Call ParticipantsAndrew Wong - Equity Research AnalystBen Theurer - Equity Research AnalystChristopher Parkinson - Equity Research AnalystDavid Simmons - Equity Research AnalystEdlain Rodriguez - Equity Research An ...

Invitation Homes (NYSE:INVH) Q4 2025 Earnings call February 19, 2026 11:00 AM ET Company ParticipantsDallas Tanner - President and CEOJason Wayne - VP of Equity ResearchJon Olson - CFOScott Eisen - Chief Investment OfficerScott McLaughlin - SVP of Investor RelationsTimothy Lobner - COOConference Call ParticipantsAmy Lo - AnalystAustin Wurschmidt - Equity Research AnalystBrad Heffern - Equity Research AnalystEmily White - Director and Equity Research AnalystEric Wolfe - VP and Equity Research AnalystHaendel ...

Farmland Partners (NYSE:FPI) Q4 2025 Earnings call February 19, 2026 11:00 AM ET Company ParticipantsChristine Garrison - General CounselLuca Fabbri - President and CEOPaul Pittman - Executive ChairmanSusan Landi - CFOConference Call ParticipantsCraig Cassera - AnalystStephen Massocca - Senior Research AnalystTelsey Hyde - AnalystOperatorLadies and gentlemen, thank you for standing by. Hello, and welcome to Farmland Partners Incorporated Fourth Quarter and Fiscal Year 2025 Earnings Conference Call. All line ...

Financial Data and Key Metrics Changes - Revenue increased 11% to a record $286 million in Q4 2025, driven by acquisitions and aftermarket parts business [7][13] - Adjusted EPS decreased to $9.26 in 2025 from $10.28 in 2024, reflecting ongoing economic challenges [8][17] - Operating cash flow reached $61 million in Q4 2025, contributing to a record free cash flow of $154 million for the year, up 15% [7][18] Business Line Data and Key Metrics Changes - Flow control segment revenue increased 5% to $100 million in Q4 2025, with aftermarket parts making up 73% of total revenue [9] - Industrial processing segment revenue rose 16% to $118 million, with aftermarket parts revenue growing 31% [10] - Material handling segment revenue increased 11% to $69 million, driven by strong growth in capital revenue [11] Market Data and Key Metrics Changes - Bookings increased 12% year-over-year, indicating solid demand across all operating segments [7] - The backlog at the end of Q4 2025 was $288 million, with 60% attributed to capital and 40% to parts [50] Company Strategy and Development Direction - The company aims to leverage ongoing modernization efforts in recycling, waste management, and data center construction to drive growth [12] - Focus on improving productivity and efficiency rather than adding new capacity, as customers adapt to economic conditions [44] Management's Comments on Operating Environment and Future Outlook - Management noted that while capital project activity remained soft in 2025, there is optimism for increased demand in 2026 as customers begin to invest again [12][28] - The company is cautious in its 2026 guidance due to uncertainties in capital orders but expects to raise guidance if significant orders are placed [66] Other Important Information - The company plans to adjust its EPS calculation to include recurring intangible amortization expense, which will provide a more consistent comparison of operating results [30][32] - Anticipated revenue guidance for 2026 is $1.16 billion to $1.185 billion, with adjusted EPS guidance of $10.40 to $10.75 [26] Q&A Session Summary Question: Current assets and liabilities at year-end - Current assets are $542 million, and current liabilities are $228 million [36] Question: Demand for consumable products and capital projects outlook - Customers are running equipment harder, leading to increased demand for consumables, which may positively impact capital projects in 2026 [41] Question: Backlog figure and organic assumptions for 2026 guidance - Current backlog is $288 million, with organic growth modeled at less than 1%-3% [50][51] Question: Uniqueness of proposal timelines for capital orders - Proposals have been outstanding longer than usual due to economic uncertainty, but projects are still in the pipeline [60] Question: Competition in aftermarket services - Competition primarily revolves around pricing, with the company maintaining strong customer relationships to defend market share [80]

Coeur Mining (NYSE:CDE) Q4 2025 Earnings call February 19, 2026 11:00 AM ET Company ParticipantsAoife McGrath - SVP of ExplorationBrian MacArthur - Managing DirectorJosh Wolfson - Managing Director and Head of Global Mining ResearchMick Routledge - EVP and COOMitchell Krebs - President and CEOTom Whelan - CFOWayne Lam - Director of Mining ResearchConference Call ParticipantsJoseph Reagor - Managing Director and Senior Research AnalystOperatorGood day, and welcome to the Coeur Mining fourth quarter 2025 fina ...