Quad/Graphics (NYSE:QUAD) Q4 2025 Earnings call February 18, 2026 08:30 AM ET Company ParticipantsJoel Quadracci - Chairman and CEOJulie Currie - EVP and Chief Revenue OfficerTony Staniak - CFO and TreasurerConference Call ParticipantsBarton Crockett - Managing Director and Senior Research AnalystKevin Steinke - Equity Research AnalystOperatorA slide presentation accompanies today's webcast, and participants are invited to follow along, advancing the slides themselves. To access the webcast, follow the inst ...

The Vita Coco Company (NasdaqGS:COCO) Q4 2025 Earnings call February 18, 2026 08:30 AM ET Company ParticipantsCorey Baker - CFOJohn Mills - Managing PartnerMartin Roper - CEOMike Kirban - Executive ChairmanConference Call ParticipantsEric Des Lauriers - Senior Research AnalystJim Salera - Research AnalystLuke Maloney - Equity Research AnalystOperatorHello, and welcome to the Vita Coco Company's Fourth Quarter and Full Year 2025 Earnings Conference Call. My name is Liz. I'll be coordinating your call today. ...

Cinemark (NYSE:CNK) Q4 2025 Earnings call February 18, 2026 08:30 AM ET Company ParticipantsChanda Brashears - SVP of Investor RelationsDrew Crum - Managing DirectorEric Wold - Executive Director of Equity ResearchMelissa Thomas - CFOOmar Mejias - VP of Equity ResearchSean Gamble - President and CEOStephen Laszczyk - VPConference Call ParticipantsChad Beynon - Managing Director and Senior AnalystDavid Karnovsky - Senior Research AnalystEric Handler - Managing Director and Senior Research AnalystMike Hickey ...

Ferroglobe (NasdaqCM:GSM) Q4 2025 Earnings call February 18, 2026 08:30 AM ET Company ParticipantsAlex Rotonen - VP of Investor RelationsBeatriz García-Cos - CFOMarco Levi - CEOConference Call ParticipantsMartin Englert - Senior Equity Research AnalystNick Giles - Senior Research AnalystOperatorAs a reminder, this conference call may be recorded. I would now like to turn the call over to Alex Rotonen, Ferroglobe's Vice President of Investor Relations. You may begin.Alex RotonenGood morning, everyone, and th ...

HF Sinclair (NYSE:DINO) Q4 2025 Earnings call February 18, 2026 08:30 AM ET Company ParticipantsAtanas Atanasov - CFOCraig Biery - VP of Investor RelationsDoug Leggate - Senior Managing DirectorFranklin Myers - Interim CEOJason Gabelman - Energy Equity Research Managing DirectorManav Gupta - Executive DirectorMatt Joyce - SVP of Lubricants and SpecialtiesMatthew Blair - Managing DirectorPaul Cheng - Managing DirectorPhillip Jungwirth - Managing DirectorSteve Ledbetter - EVP of CommercialValerie Pompa - EVP ...

Financial Data and Key Metrics Changes - Ternium reported a net income of $171 million for the fourth quarter of 2025, with adjusted EBITDA slightly declining sequentially, in line with expectations [13][14] - The EBITDA margin reached 10% for the year, supported by a cost reduction program that generated $250 million in savings [4][18] - Cash generated by operations in 2025 was strong at $2.3 billion, allowing the company to finance capital expenditures [18] Business Line Data and Key Metrics Changes - The steel segment experienced a decline in shipments due to weaker volumes in the U.S. and Brazil, although higher volumes were noted in Mexico [15][16] - Mining cash operating income increased sequentially, driven by stronger shipments and higher realized iron ore prices [16] Market Data and Key Metrics Changes - Apparent consumption of steel in Mexico decreased by 10% in 2025, with flat products consumption down 14% compared to 2024 [23] - The U.S. implemented significant trade measures against unfair practices from China, impacting the global steel market [5][9] Company Strategy and Development Direction - Ternium is focusing on enhancing operational efficiency and reducing costs while expanding its footprint in Mexico with new facilities [8][11] - The company is optimistic about profitability improvements in 2026, driven by cost reductions and favorable trade policies [10][11] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by a fatal accident at Ternium Mexico and emphasized the importance of safety [4] - The outlook for the Mexican market is cautiously optimistic, with expectations of a 4% growth in 2026 despite current low demand levels [23][24] Other Important Information - Ternium secured a $1.25 billion loan through a green financing facility to support its new projects, which received several awards [8][9] - The company proposed an annual dividend of $2.7 per ADS for fiscal year 2025, maintaining the same level as 2024 [18] Q&A Session Summary Question: Outlook for the Mexican market and recovery path - Management noted that demand in Mexico was significantly low in 2025, with expectations of a 4% market growth in 2026, aiming to gain market share against imports [23][24] Question: Impact of anti-dumping measures in Brazil - Management indicated that the impact of anti-dumping measures would be gradual, with expectations of a moderate increase in domestic prices [22][25] Question: Ternium's plan if USMCA is not renewed - Management stated that they operated in 2025 under the assumption of no renewal and would continue to adapt to the environment [30][34] Question: Volume expectations for 2026 - Management expects volumes to increase in Mexico, while the southern region may see recovery in the second half of the year [35][36] Question: Margin potential without USMCA changes - Management expressed that margins could improve, but the full impact of USMCA negotiations would likely be seen in 2027 [40][79] Question: Capital allocation priorities - Management confirmed that both increasing dividends and exploring growth opportunities in key markets are priorities [86]

Financial Data and Key Metrics Changes - Revenue for Q4 2025 was $107.2 million, a 3% year-over-year increase, while full-year revenue grew 10% from 2024 [15][4] - Adjusted EBITDA for Q4 was $26.5 million, with an Adjusted EBITDA margin of 25%, improving by 470 basis points year-over-year [16] - Free cash flow in Q4 was $21.8 million, and the company fully repaid a convertible note of $460 million during the same quarter [16] Business Line Data and Key Metrics Changes - Marketplace revenue in Q4 was $71.5 million, driven by 3.1 million active buyers and a spend per buyer of $342, with a marketplace take rate of 27.7% [16] - Services revenue in Q4 was $35.6 million, representing an 18% year-over-year growth and accounting for 33% of total revenue [18] - GMV from transactions over $1,000 grew 22.8% year-over-year in Q4, indicating a shift towards higher-value work [17] Market Data and Key Metrics Changes - The company noted a broader softness in SMB sentiment and muted freelancer hiring demand, impacting low-end transactions while high-value work continues to grow [17] - Projects over $1,000 currently represent less than 15% of marketplace GMV but are expected to become a larger contributor to overall business [8] Company Strategy and Development Direction - The company is transforming from a transaction-oriented marketplace to a trusted work platform, focusing on high-value, complex projects and AI-native work [5][10] - A multi-year execution plan has been developed, focusing on advanced matching technology, product transformation, go-to-market strategies, and operational excellence [11] - The company aims to capture opportunities in the AI-enabled economy, emphasizing the importance of human talent in conjunction with AI [12][10] Management's Comments on Operating Environment and Future Outlook - Management believes that AI is reshaping access to talent rather than reducing the need for human workers, with demand for higher-value specialized work accelerating [7][6] - The company expects elevated volatility in marketplace revenue in 2026 as it deprioritizes low-end transactions to focus on high-value work [17] - For 2026, revenue is expected to be between $380 million and $420 million, reflecting a year-over-year decline of 12% to 3% [19] Other Important Information - The company is committed to maintaining a disciplined capital allocation strategy, with $67.5 million remaining on its buyback authorization as of December 31, 2025 [19][74] - The leadership team is undergoing changes, with Esti assuming the CFO role and Jinjin stepping into a Chief Business Officer position [13][14] Q&A Session Questions and Answers Question: Insights on execution plan around matching product and capital allocation - The company is deprioritizing low-end transactions to focus on high-end projects, which currently contribute less than 15% of revenues, aiming for significant growth in this area [26] - On M&A, the company has $300 million in cash and is looking for opportunities that support high-end growth [30] Question: Financial implications of deprioritizing lower-end market - The deprioritization is intended to ensure resources are directed towards growing high-end segments, which have shown significant growth [35] - The company expects structural profitability of the core marketplace to remain above 20% [36] Question: Margin profile expectations post-transformation - Short-term EBITDA margins may be lower due to increased investments in R&D, but long-term margins are expected to return to around 25% [41] Question: Revenue expectations for 2026 - The company anticipates revenue declines in the lower-end market, while high-end segments are expected to grow, leading to an overall shift in revenue dynamics [62] Question: Building marketplace for recurring work - The focus is on enhancing data infrastructure and matching algorithms to optimize for recurring work, with a balanced approach to capital allocation between growth investments and buybacks [73][74]

Cinemark (NYSE:CNK) Q4 2025 Earnings call February 18, 2026 08:30 AM ET Company ParticipantsChanda Brashears - SVP of Investor RelationsDrew Crum - Managing DirectorEric Wold - Executive Director of Equity ResearchMelissa Thomas - CFOMike Hickey - Managing Director and Tax DirectorOmar Mejias - VP of Equity ResearchSean Gamble - President and CEOStephen Laszczyk - VPConference Call ParticipantsChad Beynon - Managing Director and Senior AnalystDavid Karnovsky - Senior Research AnalystEric Handler - Managing ...

Financial Data and Key Metrics Changes - In 2025, the company achieved revenue of $4.02 billion, an increase of 4% year-over-year, and EBITDA of $990 million, up 7% year-over-year [17][18] - The fourth quarter revenue was $1.026 billion, with EBITDA of $272 million, reflecting an 8% year-over-year growth [15][18] - Earnings per share (EPS) for the year was $6.34, representing a 10% increase year-over-year [17][18] Business Line Data and Key Metrics Changes - The Vacation Ownership segment saw gross sales rise by 8% year-over-year, driven by a 5% increase in tour flow in the fourth quarter, the strongest level of the year [16][18] - The Travel and Membership segment reported fourth quarter revenue of $148 million, down 6% year-over-year, with EBITDA of $47 million, down 10% [17][18] Market Data and Key Metrics Changes - The company noted strong leisure demand as a key driver for its Vacation Ownership business, with a loyal owner base contributing to predictable cash flow [6][8] - The average FICO score for new originations remained above 740, indicating high-quality loans [17][18] Company Strategy and Development Direction - The company is focused on brand expansion and optimizing its resort portfolio to drive sustainable, profitable growth [6][7] - A Resort Optimization Initiative is underway, which involves closing lower-performing resorts and replacing them with higher-demand properties [12][21] - The company aims to enhance owner experiences through technology investments and partnerships, such as those with Live Nation and Authentic Brands [11][62] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong demand for leisure travel and the company's ability to deliver another year of revenue growth and EBITDA margin expansion in 2026 [14][26] - The company expects EBITDA for 2026 to be in the range of $1.03 billion to $1.055 billion, reflecting 4%-7% year-over-year growth [14][24] Other Important Information - The company returned $449 million to shareholders in 2025 through dividends and share repurchases, with a new $750 million share repurchase authorization approved [19][20] - The company is committed to maintaining a disciplined capital allocation strategy while investing in organic growth [20] Q&A Session Summary Question: Can you elaborate on the optimization initiative and its long-term impact on EBITDA? - Management indicated that 2025 was a catch-up year for the optimization initiative, with expectations for a return to normal growth in subsequent years [30][31] Question: How is the consumer demographic performing currently? - Management noted continued strong demand from consumers, with household incomes above $100,000 and improved FICO scores, reinforcing the value of vacation experiences [39][40] Question: What are the expectations for the Travel and Membership business moving forward? - Management expects the Travel and Membership segment to follow a consistent trend with disciplined cost management, contributing to EBITDA growth [93] Question: What is the anticipated loan loss provision for 2026? - Management expects the loan loss provision to decrease to around 20%, with a long-term goal of settling into the high teens [90][91] Question: Can you provide insights on the new brand launches and their expected contributions? - Management anticipates that new brands like Sports Illustrated and Eddie Bauer will grow as a percentage of overall sales, contributing positively to future growth [72][74]

OPENLANE (NYSE:KAR) Q4 2025 Earnings call February 18, 2026 08:30 AM ET Company ParticipantsBill Wright - VP of Investor RelationsBob Labick - PresidentBrad Herring - EVP and CFOJeff Lick - Managing DirectorPeter Kelly - CEOConference Call ParticipantsCraig Kennison - Senior Research AnalystGary Prestopino - Managing Director and Senior Equity Research AnalystJohn Babcock - Stock AnalystRajat Gupta - Research AnalystOperatorPlease note this event is being recorded. I would now like to turn the conference ov ...