Kinsale Capital Group (NYSE:KNSL) Q4 2025 Earnings call February 13, 2026 09:00 AM ET Company ParticipantsAndrew Andersen - Equity Research VPAndrew Kligerman - Managing DirectorBryan Petrucelli - CFOJoseph Tumillo - Equity Research AssociateMichael Kehoe - Chairman and CEORowan Mayer - Equity Research AssociateStuart Winston - Chief UnderwriterConference Call ParticipantsChristian Getzoff - Senior Equity AnalystMark Hughes - Managing Director and Senior Equity Research AnalystMichael Phillips - Managing Di ...

Healthcare Realty Trust (NYSE:HR) Q4 2025 Earnings call February 13, 2026 09:00 AM ET Company ParticipantsDan Gabbay - CFOMichael Carroll - Managing DirectorMichael Gorman - Managing Director of REITsNick Joseph - Head of US Real Estate and Lodging Research TeamNick Yulico - Managing DirectorOmotayo Okusanya - Managing Director and Head of US REIT ResearchPeter Scott - President and CEORob Hull - COORon Hubbard - VP of Investor RelationsRyan Crowley - CIOConference Call ParticipantsAustin Wurschmidt - Direc ...

Enbridge (NYSE:ENB) Q4 2025 Earnings call February 13, 2026 09:00 AM ET Company ParticipantsAllen Capps - Head of Corporate Strategy and President, Renewable PowerBen Pham - Managing DirectorColin Gruending - EVP and President, Liquids PipelinesGreg Ebel - President and CEOManav Gupta - Managing DirectorMarlon Samuel - VP of Investor Relations and InsuranceMatthew Akman - EVP and President, Gas TransmissionMichele Harradence - President, Gas Distribution and StoragePat Murray - EVP and CFORob Hope - Managin ...

Cooper-Standard (NYSE:CPS) Q4 2025 Earnings call February 13, 2026 09:00 AM ET Company ParticipantsBrian DiRubbio - Managing DirectorJeff Edwards - Chairman and CEOJonathan Banas - EVP and CFOKirk Ludtke - Managing DirectorRoger Hendriksen - Director of Investor RelationsConference Call ParticipantsMichael Ward - Managing Director and Senior AnalystNathan Jones - Managing Director and Senior Equity AnalystOperatorMorning, ladies and gentlemen, and welcome to the Cooper Standard fourth quarter and full year ...

Cooper-Standard (NYSE:CPS) Q4 2025 Earnings call February 13, 2026 09:00 AM ET Company ParticipantsBrian DiRubbio - Managing DirectorJeff Edwards - Chairman and CEOJonathan Banas - EVP and CFOKirk Ludtke - Managing DirectorRoger Hendriksen - Director of Investor RelationsConference Call ParticipantsMichael Ward - Managing Director and Senior AnalystNathan Jones - Managing Director and Senior Equity AnalystOperatorMorning, ladies and gentlemen, and welcome to the Cooper-Standard fourth quarter and full year ...

Financial Performance and Key Metrics - The company reported full-year non-GAAP earnings per share of $4.76, a 4.2% increase from $4.57 in 2024 [21] - GAAP earnings for 2025 were $4.56 per share, compared to $2.27 per share in 2024 [19] - The company paid dividends of $3.01 per share, representing a 5.2% increase [6] Business Segment Performance - Electric transmission earned $2.09 per share in 2025, up from $2.03 per share in 2024, driven by investments in service reliability and demand growth [22] - Electric distribution earnings increased to $1.80 per share in 2025 from $1.77 per share in 2024, primarily due to base distribution rate increases [22] - Natural gas distribution segment earnings rose to $0.97 per share in 2025 from $0.81 per share in 2024, supported by base distribution rate increases and infrastructure investments [23] Market Data and Key Metrics - The company achieved top decile performance for both MBI and SATI metrics, indicating improved reliability for customers [8] - The average electric customer experienced an outage only once in nearly two years [8] Company Strategy and Industry Competition - The company plans to invest approximately $26.5 billion in infrastructure over the next five years, an increase of $2.3 billion from the previous plan [25] - Key focus areas include grid modernization, resiliency projects, and compliance with state safety regulations [14] - The company aims to enhance customer experience and maintain high reliability while addressing aging infrastructure [13] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of partnerships with state policymakers to address affordability and reliability [5] - The company expects 2026 to be a transformational year, with a focus on completing offshore wind commitments and managing the potential sale of Aquarion [17] - Long-term earnings growth is projected to be in the range of 5%-7% by 2028, with expectations of achieving earnings growth towards the upper half of this range [38] Other Important Information - The company successfully deployed over $4 billion in capital investments in 2025, advancing grid modernization initiatives and customer energy efficiency programs [8] - The Cambridge Underground Substation, a $1.8 billion investment, is critical for strengthening the electric system in a rapidly growing area [11] - The company received regulatory approvals for rate adjustments and cost recovery mechanisms that align with infrastructure investment needs [29] Q&A Session Summary Question: Impact of Aquarion sale on financing needs - Management indicated that if the Aquarion sale is approved, it could reduce the need for alternative financing solutions, potentially enhancing growth rates [46][60] Question: Status of Revolution Wind project liabilities - Management clarified that the cutoff for liabilities is the Commercial Operation Date (COD), not the first power [60] Question: Sources and uses of cash regarding minority interest sales - Management stated that they are exploring various alternatives for financing, including minority interest sales, but details are still premature [72] Question: Drivers for earnings in 2027 - Key drivers include the Aquarion transaction, storm cost recovery, and the CL&P rate case, all expected to solidify in 2026 [90]

Financial Data and Key Metrics Changes - In Q4 2025, the company's diluted operating earnings per share increased by 26% compared to Q4 2024 [4] - Gross written premium grew by 1.8% and net written premium grew by 7.1% year-over-year [4][9] - The combined ratio for the quarter was 71.7%, with a full-year operating ROE of 26% [4][9] - Book value per share increased by 33% since year-end 2024, and float increased by 23% [4] Business Line Data and Key Metrics Changes - The commercial property division experienced a decline, impacting overall growth, while excluding this division, gross written premium grew by 10.2% for the quarter and 13.3% for the year [5] - The expense ratio was under 21%, significantly lower than many competitors, which tend to run in the mid-30s or higher [6] - New business submission growth, excluding unsolicited submissions, was up 6% for the quarter, with most divisions seeing submission growth [12][14] Market Data and Key Metrics Changes - The E&S market conditions remained competitive, with varying levels of competition across different segments [4][12] - Pricing trends showed a combined decrease of 2.7% according to the Amwins Index, with some property lines experiencing opportunities for meaningful rate increases [15] - The company noted a decline in new business submissions in the commercial property division, while other divisions continued to see growth [12][14] Company Strategy and Development Direction - The company emphasized maintaining underwriting discipline and leveraging its low-cost business model to generate best-in-class returns [5][6] - A significant focus on technology and analytics, including the integration of AI into operations, was highlighted as a core competency [7][8] - The company plans to return excess capital to shareholders through a $250 million buyback authorization and an increase in quarterly dividends [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to generate growth and returns despite competitive pressures, particularly in the commercial property segment [5][16] - The company anticipates stabilization in the commercial property market after a period of intense competition [21] - Management acknowledged the dynamic nature of the marketplace, with ongoing vigilance regarding claims and litigation activity [62] Other Important Information - The company is expanding its homeowner insurance offerings and is optimistic about growth in this area [100][111] - The company is actively considering adjustments to its reinsurance retentions to retain more premium economics [119] Q&A Session Summary Question: Concerns about the decline in commercial property - Management noted that the decline was due to increased competition and an influx from London, which caused deceleration in growth [20] Question: Future outlook for commercial property - Management indicated that stabilization is expected in the coming quarters, despite current competitive pressures [21] Question: Business retention ratios and market dynamics - Renewal retention is in the low 70% range, with no significant movement away from the E&S market observed [31] Question: Impact of competition on premium growth - Management characterized the slowdown in premium growth as primarily a function of increased competition [120] Question: AI integration in operations - AI is being used to automate tasks and improve decision-making, with a focus on underwriting and analytics [64] Question: Growth opportunities in new products - New products are being rolled out methodically, contributing to growth over time [72] Question: Home insurance market dynamics - The company is expanding its homeowner insurance offerings and is optimistic about capturing market share [100][111]

Enbridge (NYSE:ENB) Q4 2025 Earnings call February 13, 2026 09:00 AM ET Company ParticipantsAllen Capps - Head of Corporate Strategy and President, Renewable PowerBen Pham - Managing DirectorColin Gruending - EVP and President, Liquids PipelinesGreg Ebel - President and CEOManav Gupta - Managing DirectorMarlon Samuel - VP of Investor Relations and InsuranceMatthew Akman - EVP and President, Gas TransmissionMichele Harradence - President, Gas Distribution and StoragePat Murray - EVP and CFORob Hope - Managin ...

Eversource Energy (NYSE:ES) Q4 2025 Earnings call February 13, 2026 09:00 AM ET Company ParticipantsBill Appicelli - Executive Director and Head of North America Power and Utilities ResearchJoe Nolan - Chairman, President, and CEOJohn Moreira - EVP, CFO, and TreasurerRima Hyder - VP of Investor RelationsShar Pourreza - Managing Director and Head of North American Power, Infrastructure, and UtilitiesConference Call ParticipantsCarly Davenport - VP and Equity Research AnalystPaul Patterson - Senior Utility An ...

Vale (NYSE:VALE) Q4 2025 Earnings call February 13, 2026 09:00 AM ET Company ParticipantsCaio Ribeiro - Managing Director and Head of LatAm Metals, Mining, Oil, Gas, Pulp and Paper Equity ResearchDaniel Sasson - Head of Latam Steel and Mining, Pulp and Paper and CementGustavo Pimenta - CEOMarcelo Bacci - EVP of Finance and Investor RelationsMarcio Farid - VPRogério Nogueira - EVP of Commercial and DevelopmentShaun Usmar - CEOConference Call ParticipantsAlex Hacking - AnalystCarlos De Alba - Managing Directo ...