Halozyme Therapeutics, Inc. 1 Forward-Looking Statements In addition to historical information, the statements set forth in this presentation include forward-looking statements including, without limitation, statements concerning the Company's expected future financial performance and growth rates (including the Company's 2026 financial guidance and longer term financial outlook through 2028 and the assumptions used in deriving such guidance and longer term financial outlook) including expectations for futu ...

Sysco Corporation Conference Call Summary Company Overview - **Company**: Sysco Corporation (NYSE:SYY) - **Industry**: Food Service Distribution - **Fiscal 2025 Sales**: Approximately $81 billion - **Customer Locations**: Roughly 730,000 - **Sales Composition**: 60% from restaurants, 40% from recession-resistant sectors (government, education, healthcare, large campuses) [1][4][5] Core Business Insights - **Market Position**: Leading global distributor in the food away from home industry with the highest market share and profitability [4][29] - **Specialty Foods**: Number one specialty foods distributor with multiple brands exceeding $1 billion in sales, contributing over $10 billion annually [4] - **International Growth**: Nine consecutive quarters of double-digit profit growth in international markets, with a focus on expanding fulfillment capacity and product assortment [5][9][14] Growth Drivers - **Market Trends**: Food away from home continues to gain market share from grocery, driven by busy lifestyles, food innovation, and improved to-go experiences [6][7][8] - **U.S. Market Share**: Sysco holds approximately 18% market share in a $377 billion U.S. food service market, with the potential for further growth [8][9] - **Non-Commercial Segment**: This segment is growing faster than the restaurant business, indicating resilience against economic fluctuations [10] Financial Performance - **Sales Growth Guidance**: Reiterated guidance for FY 2026 with sales growth of 3%-5% and adjusted EPS growth of 1%-3% [30] - **Historical Performance**: Achieved CAGRs of 5% on the top line and 9% on the bottom line over the past four years [30] - **Operating Leverage**: Positive operating leverage with gross profits growing faster than operating expenses [31] Strategic Initiatives - **Sales Improvement**: Focus on improving sales consultant retention and productivity through training and technology [15][27] - **Merchandising Strategy**: Transitioning to a center-led merchandising strategy to optimize product assortment and supplier relationships [19][20] - **M&A Opportunities**: Continued focus on strategic acquisitions to drive growth, targeting an average contribution of 50 basis points from M&A [36] Capital Allocation and Shareholder Returns - **Dividend Growth**: Commitment to long-term dividend growth, with a target payout ratio of 40%-50% of EPS [44][45] - **Share Repurchase**: Plan to return approximately $1 billion to shareholders through share repurchases [44] - **Cash Flow Generation**: Generated approximately $1.8 billion in cash flow last year, demonstrating strong quality of earnings [34] Market Outlook - **Confidence in Growth**: Strong confidence in achieving at least 2.5% local volume growth in the second half of the fiscal year, supported by internal initiatives and M&A contributions [12][26] - **Resilience in Various Sectors**: Continued growth in travel, leisure, education, and healthcare sectors, which are generally recession-resilient [32] Conclusion - **Investment Thesis**: Sysco is positioned as a compelling investment opportunity due to its leadership in a growing industry, strong financial performance, and commitment to shareholder returns [46][48]

Managem ent Letter February 17, 2026 Our Fellow Shareholders: As we begin 2026, the macro-economic environment remains mixed and defined by uneven growth, shifting interest-rate expectations, and continued uncertainty around federal spending. Yet even with this backdrop, the DC region appears to be finding its footing. The federal workforce has absorbed the bulk of last year's adjustments, and with Congress restoring funding in several key areas and putting guardrails around future cuts, the sense is that t ...

Summary of Coya Therapeutics Update - February 17, 2026 Company Overview - **Company**: Coya Therapeutics (NasdaqCM: COYA) - **Focus**: Development of targeted therapies for ALS (Amyotrophic Lateral Sclerosis) Key Industry Insights - **ALS Treatment Landscape**: The approval of tofersen for SOD1 ALS has marked a significant development, indicating that targeted therapies can have a substantial impact on the disease's biology, potentially slowing, halting, or even reversing progression for a small subset of patients [3][4] - **Current Therapies**: Existing therapies show only modest benefits due to a lack of focus and understanding of the disease's biology. The industry is shifting towards more biologically informed clinical trials [5][6] Core Scientific Insights - **Neuroinflammation**: Neuroinflammation is identified as a critical factor in ALS pathology. The understanding of its role has evolved, with a focus on specific biological processes rather than broad observations [6][12] - **Regulatory T Cells (Tregs)**: Tregs are crucial for neuroprotection but are dysfunctional in ALS patients. Enhancing Treg function is a potential therapeutic target [13][14] Combination Therapy Rationale - **Combination of Low-Dose IL-2 and CTLA-4**: The rationale for this combination therapy is based on the need to enhance Treg function while suppressing inflammatory responses from activated macrophages. This dual approach aims to prevent Treg dysfunction and improve therapeutic outcomes [16][18][19] Clinical Trial Insights - **Initial Study Results**: A small study involving four ALS patients showed promising results, with some patients experiencing slowed progression and improved biomarkers related to inflammation and oxidative stress [24][25][26] - **ALSTARS Phase 2 Trial**: The upcoming trial aims to enroll 120 patients, with a design that includes a placebo group and two different dosing regimens for the combination therapy. The trial will measure clinical outcomes and biomarkers over six months [40][41][42] Safety and Tolerability - **Safety Profile**: Previous studies indicate that both IL-2 and CTLA-4 have favorable safety profiles, with no significant increase in infection rates observed. The low-dose IL-2 specifically activates Tregs without causing pro-inflammatory responses [56][59] Future Considerations - **Potential for FDA Approval**: If the trial meets its primary efficacy endpoint, Coya plans to submit an application for FDA approval. The strength of the data will be crucial for this process [65][66] - **Long-Term Outcomes**: There is optimism that slowing disease progression could correlate with improved survival rates, although ongoing monitoring of inflammation levels will be essential [62][64] Conclusion Coya Therapeutics is at the forefront of developing targeted therapies for ALS, with a strong focus on understanding the underlying biology of the disease. The upcoming ALSTARS trial represents a significant step towards validating the efficacy of combination therapies aimed at neuroinflammation and Treg dysfunction.

Ingredion 2026 CAGNY Presentation James Zallie Chairman, President and CEO Patrick Kalotis Executive Vice President, Texture & Healthful Solutions Rob Ritchie Executive Vice President, Food & Industrial Ingredients U.S./Canada and LATAM, and Sugar Reduction Jim Gray Executive Vice President and CFO February 17, 2026 Forward-looking statements Non-GAAP Financial Measures This presentation provides information about adjusted diluted earnings per share, adjusted operating income, adjusted EBITDA, adjusted ROIC ...

IDEX (NYSE:IEX) 2026 Conference Summary Company Overview - **Company**: IDEX Corporation - **Industry**: Industrial technology and fluidics - **Key Executives**: Eric Ashleman (CEO), Sean Gillen (CFO) Phase of Evolution - IDEX is currently in the **third phase** of its evolution, which began in 2020. This phase focuses on leveraging acquisitions and enhancing market positioning for future growth [2][4]. Financial Performance - **Q4 Highlights**: Achieved **34% organic order growth** in the HST segment, indicating strong momentum [3]. - **2026 Outlook**: Positioned for a strong year in the HST segment, with expectations of continued growth and further market exploitation [4]. Capital Deployment Strategy - **Share Repurchases**: IDEX plans to continue share repurchases at approximately **$75 million per quarter** in 2026, while balancing this with potential M&A activities [9][10]. - **M&A Focus**: The company is looking at **bolt-on acquisitions** to enhance its existing platforms, with a history of successful integrations [10][11]. Global Expansion and Manufacturing - IDEX's business model is localized, focusing on regional production and sales. The company has invested in **India**, establishing two sites to cater to local markets [14][15]. - The company is leveraging its global footprint to access emerging markets, particularly in India, where it has localized product lines [15][16]. Digitization and AI Initiatives - IDEX is actively adopting **digital tools** across its portfolio, particularly in the FMT segment, to enhance customer engagement and operational efficiency [18][21]. - The company is exploring **AI applications** in market analysis, internal data processing, product development, and quality assurance [22][24]. Segment Performance HST Segment - **Growth Drivers**: Strong demand in data centers, space, defense, and semiconductor markets. The backlog is over **$100 million** higher than the previous year [27]. - **Order Visibility**: Higher visibility into growth outlook compared to previous years, with expectations of mid-single-digit growth for the year [29][32]. FMT Segment - **Market Dynamics**: Strong performance in water and mining sectors, while facing challenges in chemicals and agriculture [62][64]. - **Margin Outlook**: Margins are expected to remain flat due to volume pressures, with efforts to offset this through pricing and productivity gains [69]. FSDP Segment - **International Exposure**: The international fire and safety business has faced challenges, particularly in China and Europe, but remains stable overall [71][73]. - **Growth Expectations**: North American markets are expected to drive growth, with slight margin expansion anticipated [79]. Key Challenges and Opportunities - **Life Sciences**: The life sciences vertical is stable but facing headwinds from international market dynamics and funding uncertainties [36][37]. - **Industrial Markets**: The company is monitoring economic indicators and customer sentiment closely, as there are signs of potential recovery in industrial markets [55][58]. Innovations and Trends - IDEX is focused on leveraging technological advancements and exploring new market opportunities, particularly in data centers and low orbit communications [88]. This summary encapsulates the key points discussed during the IDEX conference, highlighting the company's strategic direction, financial performance, and market dynamics.

CACI International (NYSE:CACI) 2026 Conference February 17, 2026 02:20 PM ET Company ParticipantsJason Bales - CTOJeff MacLauchlan - CFOConference Call ParticipantsJohn Godyn - Aerospace and Defense AnalystJohn GodynAll right, everybody. Thank you, thank you for your attention here. We've got the management team of CACI, Jeff and Jason, here with us today. I'm very excited to have you. For those of you that don't know me, my name is John Godyn. I'm the Aerospace and Defense Analyst at Citi. And we've got a ...

Summary of Conference Call for Mondelēz International Company Overview - **Company**: Mondelēz International - **Industry**: Global snacks, particularly chocolate, biscuits, and baked snacks Key Points and Arguments Industry Dynamics - The global chocolate market is described as dynamic, with significant challenges due to cocoa input cost inflation impacting performance in developed markets, particularly in the U.S. and Europe [2][19] - Despite these challenges, the company has maintained solid top-line growth and free cash flow, continuing to invest in its business [2][11] Growth Strategy - Mondelēz aims to improve performance through strategic actions focused on core categories: chocolate, biscuits, and baked snacks, which currently account for about 80% of net revenues [3][10] - The company is targeting a long-term organic net revenue growth of 3%-5%, with high single-digit adjusted EPS growth and over $3 billion in free cash flow [10][39] Market Position - Mondelēz holds a leading position in the global snacks market, with a 17% share in biscuits (valued at $128 billion) and a 12.4% share in chocolate (valued at $147 billion) [4][5] - The company has a strong presence in emerging markets, which are expected to grow at a CAGR of 9% over the next five years, driven by rising disposable incomes and urbanization [28][29] North American Market Insights - The North American business has delivered a 4% CAGR over the past five years, with net revenue projected at about $11 billion for 2025 [11][18] - Key brands like Oreo and Chips Ahoy are performing well, with Oreo generating $2 billion in net revenue [11][12] - The company is addressing changing consumer behaviors by increasing investments in marketing and optimizing product offerings to meet price sensitivity [13][14] European Market Insights - The European business has shown robust growth of about 8% over the past five years, with net revenue of approximately $15 billion for 2025 [18][19] - Chocolate remains a strong category, with a CAGR of 7% over the past five years, despite challenges from cocoa cost inflation [19][22] - Strategic actions include broadening offerings across chocolate segments and enhancing brand presence in under-indexed channels [21][24] Emerging Markets Strategy - Emerging markets represent a $15 billion business for Mondelēz, with significant growth potential in countries like China, India, Brazil, and Mexico [28][30] - The company plans to expand its presence in these markets through localized strategies, product innovation, and enhanced distribution networks [30][37] Supply Chain and Operational Improvements - A multi-year supply chain capability improvement program is underway to optimize operations and increase margins [17][39] - The company is investing in local supply chains to enhance efficiency and service delivery, which is crucial for capturing growth in emerging markets [29][39] Financial Performance and Capital Allocation - Despite pressures from cocoa inflation, Mondelēz managed to deliver strong free cash flow and is targeting over $4 billion in free cash flow generation moving forward [39][40] - The company has prioritized returning capital to shareholders, with significant share repurchases and dividend growth over the past decade [39][40] Future Outlook - The company remains optimistic about its growth prospects, with expectations of strong EPS growth driven by improved performance in developed markets and continued growth in emerging markets [41] - Mondelēz is committed to maintaining a strong balance sheet while executing its growth strategies across various markets [41] Additional Important Insights - Consumer trends indicate a growing preference for snacking, with consumers snacking more than 3.5 times a day and showing interest in new flavors [4][5] - The company is focusing on health-conscious products and premium offerings to cater to evolving consumer preferences [15][16] This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting Mondelēz International's commitment to growth and adaptation in a challenging market environment.

February 17, 2026 CAGNY 2026 Forward-Looking Statements Such forward-looking statements reflect the views of management at the time such statements are made and are subject to a number of risks, uncertainties, estimates, and assumptions, including those outside of Sysco's control. Risks and uncertainties include without limitation: the impact of geopolitical, economic and market conditions and developments, including changes in global trade policies and tariffs and foreign conflicts; risks related to our bu ...

Frontier Group FY Conference Summary Industry Overview - The airline market is currently experiencing a better demand environment compared to the previous year, with constructive supply-demand dynamics noted [3][4] - The airline industry is seeing a disciplined pricing strategy, with Frontier implementing a basic fare plus bundle strategy [4] Company Performance - Frontier reported a 10%+ improvement in stage length adjusted RASM (Revenue per Available Seat Mile) year-over-year in Q1 [5] - The airline faced a $30 million loss due to a shutdown in November but recovered in December, with positive trends continuing into January and February [5] - Capacity is expected to be flat or slightly down in Q1, with a projected 10% unit revenue growth driven by both internal initiatives and industry pricing improvements [6] Strategic Priorities - The new CEO, Jimmy Dempsey, emphasized the importance of right-sizing the fleet, with 24 aircraft being removed from service to align capacity with demand [9][10] - Frontier aims for a long-term growth profile of 8%-10% and an increase in aircraft utilization from less than 9 hours to 11.5 hours over the next 18-24 months [10] - Cost discipline is a key focus, with anticipated savings of $200 million from rent reductions and operational efficiencies [11] Fleet Management - Frontier deferred the delivery of 69 Airbus aircraft, pushing growth rates to align with the 8%-10% target [13][14] - The AerCap deal involves returning A320s, which is expected to optimize maintenance costs and improve fleet utilization [24][60] Revenue and Pricing Strategy - The airline expects unit revenues to remain strong despite capacity growth, with March showing an 8% increase in capacity and unit revenues expected to rise over 10% year-over-year [29][30] - The implementation of NDC (New Distribution Capability) has improved product visibility and conversion rates on online travel agents [30][36] Loyalty Program and Customer Engagement - Frontier is investing in its loyalty program, with cash flows from loyalty assets up 30% year-over-year [39] - The introduction of a first-class seat and a new Wi-Fi provider is planned to enhance customer experience [39][57] Operational Improvements - The airline is focused on improving operational performance, particularly on-time performance and reducing cancellations [65][66] - A series of 60 projects are underway to enhance operational efficiency and customer loyalty [68] Market Position and Competitive Landscape - Frontier is capitalizing on reduced competition in markets like Atlanta and Las Vegas, where Spirit Airlines has decreased capacity [42][44] - The company is focused on building a sustainable, profitable path without relying on industry consolidation [46] Financial Outlook - The CEO aims to restore sustainable profitability and improve operating cash flows, moving away from reliance on sale and leaseback gains [71][72] - The airline is positioned to generate operating cash flows and provide low fares, with a focus on long-term growth [72]