ARMOUR Residential REIT (NYSE:ARR) Q4 2025 Earnings call February 19, 2026 09:00 AM ET Company ParticipantsDave Storms - Director of Equity ResearchDesmond Macauley - Co-Chief Investment OfficerEric Hagen - Managing DirectorGordon Harper - CFOScott Ulm - CEOSergey Losyev - Co-Chief Investment OfficerConference Call ParticipantsTimothy D'Agostino - Research AnalystTrevor Cranston - Equity Research AnalystOperatorGood day. Welcome to the ARMOUR Residential REIT's fourth quarter 2025 earnings conference call. ...

Financial Data and Key Metrics Changes - In 2025, the company achieved a revenue of $7.1 billion, representing a 7% increase year-over-year, with adjusted EBITDA growing 11% to $656 million [10][11] - Adjusted earnings per share (EPS) increased by 34% to $1.22, marking the highest total revenue and leasing revenue in company history [5][10] - The company generated over $290 million in free cash flow, achieving a conversion rate of 103%, which is a $126 million improvement compared to 2024 [11] Business Line Data and Key Metrics Changes - Capital Markets revenue grew by 15% globally, with a notable 19% increase in the Americas [12][16] - The leasing business also performed well, growing 5% in the fourth quarter and reaching the highest quarterly level ever for the company [12][14] - Services revenue increased by 6% globally, driven by strong project management revenues [16][55] Market Data and Key Metrics Changes - In the Americas, leasing grew 5%, with strong performance in office and industrial sectors [14] - In APAC, leasing revenue increased by 5%, supported by growth in India and improvements in Greater China [15] - EMEA leasing grew by 7%, led by strong performance in the Netherlands, Belgium, and Poland [15] Company Strategy and Development Direction - The company aims for 15%-20% annual adjusted EPS growth over the next three years, with a focus on moving up the value chain and leveraging AI for operational efficiency [6][17] - The strategic priorities include enhancing cross-selling between business lines and utilizing AI to improve data flow and decision-making processes [35][36] - The company plans to continue deleveraging, targeting a leverage ratio of 2x by 2028 [17][38] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing recovery of Capital Markets and the resilience of the industrial sector, driven by strong e-commerce trends [48][66] - The company anticipates revenue growth of 6%-8% in 2026, with similar service line growth trends as in 2025 [17] - Management believes that AI will enhance the role of trusted advisors rather than replace them, particularly in complex commercial real estate transactions [22] Other Important Information - The company recorded a $177 million impairment related to its Greystone joint venture due to lower future earnings expectations [12][13] - The company has a strong cash position with approximately $800 million in cash and cash equivalents, and $1.8 billion in total liquidity [11] Q&A Session Summary Question: Concerns about AI impacting mid-market brokerage businesses - Management believes concerns about AI disintermediating commercial real estate brokerage are overstated, as complex negotiations will still require trusted advisors [22] Question: EMEA margin growth confidence - Management expressed confidence in EMEA margin growth despite a slight decline in the fourth quarter, attributing it to one-time expenses [23] Question: Risks across different property types due to AI - Management highlighted ongoing research into AI's impact across various sectors and encouraged attendance at an upcoming call to discuss practical tools for clients [25][26] Question: 2026 guidance on leasing and capital markets revenue growth - Management expects 2026 to unfold similarly to 2025, with strong leasing growth and a positive outlook for capital markets [29] Question: Cross-selling initiatives for 2026 - Management is focusing on desiloing the organization and enhancing data flow to support cross-selling efforts [35] Question: Capital allocation strategy and potential for share buybacks - Management is evaluating share buybacks but prioritizes organic growth and deleveraging [51] Question: Exposure to the office sector and its risks - Management noted that they do not operate in Class B office space, which is more vulnerable to disruption, and emphasized their focus on velocity in transactions [43] Question: Hiring strategy for 2026 - Management plans to maintain a substantial budget for recruiting, particularly in institutional capital markets and leasing [61]

American Water Works Company (NYSE:AWK) Q4 2025 Earnings call February 19, 2026 09:00 AM ET Company ParticipantsAaron Musgrave - VP of Investor RelationsCheryl Norton - COODavid Bowler - Vice President and TreasurerGreg Ory - Senior Vice President Wealth Management, Portfolio ManagerJohn Griffith - President and CEOConference Call ParticipantsJulien Dumoulin-Smith - Research AnalystRu Jai - Equity AnalystOperatorGood morning, and welcome to American Water's fourth quarter 2025 earnings conference call. As a ...

Cushman & Wakefield (NYSE:CWK) Q4 2025 Earnings call February 19, 2026 09:00 AM ET Speaker8Good day, and welcome to the Cushman & Wakefield fourth quarter and full year 2025 earnings call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touch-tone phone. To withdraw your questi ...

Mastech Digital (NYSEAM:MHH) Q4 2025 Earnings call February 19, 2026 09:00 AM ET Speaker5Day, and thank you for standing by. Welcome to the Mastech Digital Fourth Quarter 2025 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will 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 withdra ...

Pediatrix Medical Group (NYSE:MD) Q4 2025 Earnings call February 19, 2026 09:00 AM ET Speaker6Hello, and thank you for standing by. At this time, I would like to welcome everyone to the Q4 2025 Pediatrix Medical Group, Inc. earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. If you would like to ask a question during this time, simply press star, followed by the number one on your telephone ke ...

Integer (NYSE:ITGR) Q4 2025 Earnings call February 19, 2026 09:00 AM ET Speaker7Good morning, and thank you for standing by. Welcome to Energous, excuse me, Integer Holdings Corporation's fourth quarter 2025 earnings call. My name is Audra, and I will be your conference operator today. At this time, all participants are in a listen-only mode. After the prepared remarks, there will be a question-and-answer session. Please note this call is being recorded. I would now like to turn the conference over to Krist ...

DT Midstream (NYSE:DTM) Q4 2025 Earnings call February 19, 2026 09:00 AM ET Speaker7Welcome everyone to the DT Midstream fourth quarter and year-end 2025 earnings call. I will now turn the call over to our speaker today, Todd Lohrmann, Director of Investor Relations. Please go ahead, sir.Speaker11Good morning, and welcome, everyone. Before we get started, I would like to remind you to read the safe harbor statement on page 2 of the presentation, including the reference to forward-looking statements. Our pre ...

Upbound Group (NasdaqGS:UPBD) Q4 2025 Earnings call February 19, 2026 09:00 AM ET Speaker6Good day, and thank you for standing by. Welcome to the Upbound Group Inc. Fourth Quarter 2025 Earnings Conference Call. At this time, all participants are in 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'll need to press star one one on your telephone. You will then hear an automated message advising your hand is raised. To wi ...

Medallion Financial (NasdaqGS:MFIN) Q4 2025 Earnings call February 19, 2026 09:00 AM ET Speaker4Good day, and welcome to the Medallion Financial Corp. Fourth Quarter 2025 Earnings Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on a touch-tone phone. To withdraw yo ...