Portillo's (NasdaqGS:PTLO) Q4 2025 Earnings call February 24, 2026 10:00 AM ET Company ParticipantsChris Brandon - VP of Investor RelationsMichael Miles - Chairman of the Board and Interim CEOMichelle Hook - CFOSharon Zackfia - Partner and Group Head of the Consumer SectorConference Call ParticipantsAndy Barish - AnalystBrian Harbour - Research AnalystBrian Mullan - Restaurant and Food Distribution AnalystDavid Tarantino - Restaurants AnalystDennis Geiger - Restaurants AnalystGregory Francfort - Senior Anal ...

Financial Data and Key Metrics Changes - The company achieved full-year consolidated revenue of $3.8 billion, exceeding the high end of guidance, driven by strong demand and successful backlog conversion [8] - Adjusted earnings per share for 2025 was $6.41, representing first-year earnings accretion compared to legacy JBT's 2024 adjusted earnings of $6.15 [11] - Consolidated adjusted EBITDA was $600 million, with a margin of 15.8%, aligning with guidance [9] - The leverage ratio improved to less than 2.9 times by year-end 2025, down from just below 4 times at the transaction completion [11] Business Line Data and Key Metrics Changes - Revenue for the Protein Solutions segment was $1.7 billion, while the Prepared Food and Beverage Solutions segment generated $2.1 billion [9] - Adjusted EBITDA margin for Protein Solutions was 20.1%, and for Prepared Food and Beverage Solutions, it was 17.2% [9] - The company captured $30 million in order synergies for the full year, with more than half realized in the fourth quarter [7] Market Data and Key Metrics Changes - Full-year orders reached $3.8 billion, with over $1 billion in the fourth quarter, primarily driven by strong demand in the poultry market [5] - The poultry sector showed significant recovery after two years of underinvestment, contributing to overall order strength [5] - Gains were observed across all regions in 2025, with poultry being a leading food category due to its affordability and health benefits [5] Company Strategy and Development Direction - The company plans to invest in strengthening its offerings and providing integrated solutions across key product lines [7] - Future growth is expected to be supported by continued investment momentum in the poultry industry and renewed investment in prepared foods [17] - The company aims to achieve $150 million in run rate synergy savings by the end of 2027 [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued investment momentum in the poultry equipment demand into 2026 [17] - The impact of higher tariffs was acknowledged, with an estimated cost of approximately $43 million for the year, affecting adjusted EBITDA margins [10] - The company anticipates healthy year-over-year growth in revenue, margins, and earnings for 2026, with guidance for adjusted earnings per share of $8.00-$8.50 [14] Other Important Information - The company has begun assessing the potential impact of recent Supreme Court news on tariffs for 2026 [13] - The upcoming Investor Day is scheduled for March 26, where further details on strategic growth priorities will be provided [17] Q&A Session Summary Question: Order dynamics in the fourth quarter - Management noted that poultry remains the leader across all categories, with expectations for a recovery in AGV as they move into 2026 [22] Question: Synergies between R&D and SG&A - Synergy savings were predominantly in SG&A, with no specific guidance provided for R&D and SG&A for 2026 [24] Question: Top-line growth differentiation for 2026 - Revenue growth for Protein Solutions is expected to be at the higher end of the 5%-7% range, while Prepared Food and Beverage is anticipated at the lower end [36] Question: Tariff impacts and pricing strategies - Management indicated that they have included some mitigation on pricing in their forecast, expecting a net negative impact of 25 to 50 basis points for the full year [41] Question: Sales synergies for 2025 and guidance for 2026 - The company is ahead of pace on original synergy targets, with $30 million captured in 2025 and expectations to provide updated guidance at the Investor Day [60]

Douglas Dynamics (NYSE:PLOW) Q4 2025 Earnings call February 24, 2026 10:00 AM ET Company ParticipantsMark Van Genderen - President and CEONathan Elwell - VP of Investor RelationsSarah Lauber - EVP and CFOConference Call ParticipantsGreg Burns - Senior AnalystMichael Shlisky - Managing Director and Senior Equity Research AnalystTimothy Wojs - Senior Research AnalystOperatorPlease note, this event is being recorded. I would now like to turn the conference over to Nathan Elwell, Vice President, Investor Relati ...

Coca-Cola FEMSA (NYSE:KOF) Q4 2025 Earnings call February 24, 2026 10:00 AM ET Company ParticipantsAlvaro Garcia - Associate PartnerAntonio Hernández - Head Director of Equity ResearchBenjamin Theurer - Managing Director and Head of Latin America Equity ResearchFroylán Méndez - Equity Research Executive DirectorGabriela Martinez - Equity Research ManagerGerardo Cruz Celaya - CFOIan Craig - CEOJorge Collazo - Investor Relations DirectorRodrigo Alcantara - Director of Equity ResearchConference Call Participan ...

Coca-Cola FEMSA (NYSE:KOF) Q4 2025 Earnings call February 24, 2026 10:00 AM ET Company ParticipantsAlvaro Garcia - Associate PartnerAntonio Hernández - Head Director of Equity ResearchBenjamin Theurer - Managing Director and Head of Latin America Equity ResearchFroylan Mendez - Equity Research Executive DirectorGabriela Martinez - Equity Research ManagerGerardo Cruz Celaya - CFOIan Craig - CEOJorge Collazo - Investor Relations DirectorRodrigo Alcantara - Director of Equity ResearchConference Call Participan ...

Ovintiv (NYSE:OVV) Q4 2025 Earnings call February 24, 2026 10:00 AM ET Company ParticipantsBrendan McCracken - President and CEOCorey Code - CFOGreg Givens - EVP and COOGreg Pardy - Managing Director and Head of Global Energy ResearchJason Verhaest - Director of Investor RelationsJosh Silverstein - Managing DirectorKevin MacCurdy - Managing DirectorLloyd Byrne - Managing Director, Equity ResearchNeil Mehta - Head of Americas Natural Resources Equity ResearchPhillip Jungwirth - Managing DirectorNone - Compan ...

Helix Energy Solutions Group (NYSE:HLX) Q4 2025 Earnings call February 24, 2026 10:00 AM ET Company ParticipantsBrent Arriaga - VP of Finance and Accounting and Chief Accounting OfficerErik Staffeldt - EVP and CFOJosh Jayne - Managing DirectorKen Neikirk - EVP, General Counsel, and Corporate SecretaryOwen Kratz - President and CEOScotty Sparks - EVP and COOConference Call ParticipantsBen Summers - Equity Research AnalystConnor Lynagh - AnalystJames Schumm - Senior Analyst of Environmental Services and Energ ...

Gerdau (NYSE:GGB) Q4 2025 Earnings call February 24, 2026 10:00 AM ET Company ParticipantsAriana de Cesare Pereira - Investor Relations SpecialistCaio Greiner - Equity Research DirectorCaio Ribeiro - Managing Director and Head of Equity ResearchDaniel Sasson - Head of Latam Steel and Mining, Pulp, and Paper and CementGustavo Werneck - CEORafael Japur - CFORaphael Bastos Bezerra - Pricing Data Scientist IIINone - TranslatorConference Call ParticipantsIgor Guedes - Lead Equity Research AnalystNone - AnalystNo ...

Tennant Company (NYSE:TNC) Q4 2025 Earnings call February 24, 2026 10:00 AM ET Company ParticipantsDave Huml - President and CEOFay West - SVP and CFOLorenzo Bassi - VP of Finance and Investor RelationsConference Call ParticipantsAaron Reed - Research AnalystSteve Ferazani - Senior Equity AnalystTom Hayes - Managing Director and Senior Research AnalystOperatorLadies and gentlemen, good morning. My name is Abby. I will be your conference operator today. At this time, I would like to Welcome everyone to Tenna ...

Financial Data and Key Metrics Changes - In 2025, the company achieved consolidated NOI growth of 31.3% and reduced leverage by over three turns, with no debt maturities until 2028 [6][12] - Total revenue for the fourth quarter was $379.6 million, with Adjusted EBITDAre of $72.4 million and Normalized FFO of $21.8 million or $0.09 per share [8][22] - Full year Adjusted EBITDAre was $284 million, at the high end of guidance [22] Business Line Data and Key Metrics Changes - The SHOP NOI for the full year was $139.3 million, driven by a same-property occupancy increase of 90 basis points year-over-year to 82.4% and an average monthly rate increase of 5.8% [8][16] - Medical office and life science NOI was $108.1 million, just above the midpoint of guidance, while triple net lease senior living community and wellness center NOI was $31.1 million, exceeding guidance [22] Market Data and Key Metrics Changes - Consolidated occupancy in the medical office and life science portfolio increased by 460 basis points sequentially to 91.2% [11] - Same-property Cash Basis NOI increased 3.8% year-over-year, with margins improving 100 basis points to 59.6% [11] Company Strategy and Development Direction - The company aims to continue unlocking value through operational improvements and has identified approximately 15 locations for potential reopening of wings, which could add around 500 units to the portfolio [27] - Future dispositions will be opportunistic, focusing on reducing leverage or redeploying into accretive initiatives [14][46] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the 2026 outlook, supported by a robust demand for SHOP communities and a favorable industry outlook [10][14] - The company anticipates strong improvements in SHOP segment performance and reduced debt, driving free cash flow growth [22] Other Important Information - The company completed the wind down of AlerisLife, transitioning 116 communities to seven operators and completed renovations at over 30 communities [5][6] - The company expects recurring capital expenditures for 2026 to range from $100 million to $115 million, representing an over 18% decrease compared to 2025 [18] Q&A Session Summary Question: What is the go-forward strategy and opportunities for reopening wings? - The main strategy focuses on growing performance through operations, with potential for 500 units from reopening wings at identified locations [26][27] Question: Will external investments focus on renovations or acquisitions? - Renovations are prioritized for better risk-adjusted returns, but acquisitions are not ruled out for the future [28][29] Question: What drove the fourth quarter margin improvement? - The improvement was due to a combination of reduced transition disruptions and core operational gains [30] Question: What are the trends for January and February? - January showed promising results in line with expectations, with rent escalators around 4%-6% [32][33] Question: How does the company view NOI growth for the coming quarters? - NOI growth is expected to be back half of the year weighted due to ongoing transitions [38] Question: What are the prospects for renewing leases in the medical office and life science segment? - There are promising outlooks for re-leasing, particularly in the Fremont building, which is in a strong R&D market [44] Question: What implications does the momentum have on dividends? - The board will consider dividends, but there are no immediate priorities for addressing them [52]