LKQ (NasdaqGS:LKQ) Q4 2025 Earnings call February 19, 2026 08:00 AM ET Company ParticipantsJoe Boutross - VP of Investor RelationsJustin Jude - President and CEORick Galloway - Senior VP and CFOConference Call ParticipantsBret Jordan - Equity Research AnalystCraig Kennison - Senior AnalystGary Prestopino - Equity Research AnalystJash Patwa - Equity Research AnalystJohn Babcock - Equity Research AnalystScott Stember - Senior Research AnalystNone - AnalystOperatorHello, everyone, and thank you for joining the ...

Wayfair (NYSE:W) Q4 2025 Earnings call February 19, 2026 08:00 AM ET Company ParticipantsEric Sheridan - Managing DirectorJohn Blackledge - Managing DirectorKate Gulliver - CFONiraj Shah - CEORyan Barney - Senior Manager of Investor RelationsSteve Forbes - Senior Managing DirectorZachary Fadem - Managing DirectorConference Call ParticipantsBrian Nagel - Senior AnalystSimeon Gutman - Research AnalystOperatorHello, everyone. Thank you for joining us, and welcome to the Wayfair Q4 2025 earnings release and con ...

Financial Data and Key Metrics Changes - The company reported a GAAP EPS of $1.60 for the full year 2025 and $0.40 for Q4 2025, with a non-GAAP EPS of $1.76 for the full year and $0.45 for Q4, reflecting a 9% growth compared to 2024 [2][14][15] - The company also achieved a 9% increase in dividend per share last year, maintaining a consistent execution track record [7][14] Business Line Data and Key Metrics Changes - The Houston Electric business is forecasted to experience a peak load demand increase of 50% or an additional 10 GW by 2029, two years earlier than previously planned [5][8] - The company is adding $500 million to its 10-year capital investment plan, bringing the total to over $65 billion, to support this growth [6][12] Market Data and Key Metrics Changes - The company noted a 7% growth in industrial demand for the year, indicating a shift towards commercial and industrial growth within its overall base [92][94] - The company expects to keep customer charges nearly flat through 2028 due to the increased load from large projects [10][52] Company Strategy and Development Direction - The company is focused on executing a disciplined capital investment strategy, with an emphasis on infrastructure improvements to support economic development in the Greater Houston region [12][20] - The company is committed to maintaining a long-term growth target of 7%-9% annually through 2035, reaffirming its 2026 non-GAAP earnings guidance of $1.89-$1.91 [8][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to meet future demand due to existing system capacity and manageable upgrades, despite the rapid acceleration of large load growth [10][51] - The company anticipates regulatory clarity through 2029 on approximately 80% of its rate base, which supports its growth plans [26] Other Important Information - The company is actively pursuing additional transmission projects to accommodate the accelerated load growth and has filed for a third 765 kV transmission line [11][12] - Recent regulatory changes regarding the corporate alternative minimum tax are expected to improve the company's cash tax profile significantly, potentially reducing annual cash tax liabilities to near zero through 2035 [22][23] Q&A Session Summary Question: Update on transmission planning study and timing - Management clarified that the $500 million for the 765 kV line is separate from the incremental transmission work needed for large loads, with updates expected in the second half of the year [30][32] Question: Impact of repairs adjustment on equity needs - Management indicated that the recent regulatory changes could unlock an additional $1 billion of CapEx without requiring incremental equity, benefiting the balance sheet [33][34] Question: Growth implications and CapEx timing - Management noted that existing capacity allows for rapid connections to large loads, with more intra-regional transmission capacity needed in the first five years of the plan [41][72] Question: ERCOT batching process and potential delays - Management expressed confidence that the batching process would be manageable and that they have not experienced the backlog seen in other regions [44][46] Question: Balance sheet capacity and future divestitures - Management stated that they remain open-minded about capital recycling and divestitures, depending on what makes the most sense for growth financing [86][87] Question: Electric volumes and throughput trends - Management confirmed that the modest decline in total throughput was due to a shift towards commercial and industrial growth, with confidence in long-term trends [92][94] Question: CapEx update and adjustments - Management explained that the increase in CapEx was primarily driven by the 765 kV line, with flexibility on the gas side allowing for adjustments based on execution needs [96][97]

CRH (NYSE:CRH) Q4 2025 Earnings call February 19, 2026 08:00 AM ET Company ParticipantsAdrian Huerta - DirectorAngel Castillo - Executive DirectorDavid MacGregor - PresidentJim Mintern - CEOKathryn Thompson - CEO and Founding PartnerNancy Buese - CFORandy Lake - COOTom Holmes - Head of Investor RelationsConference Call ParticipantsKeith Hughes - Managing Director and Research AnalystMichael Feniger - Senior AnalystShane Carberry - Research AnalystOperatorGood day, and welcome to the CRH fourth quarter and f ...

Walmart (NYSE:WMT) Q4 2026 Earnings call February 19, 2026 08:00 AM ET Company ParticipantsChris Nicholas - EVP and COODavid Guggina - EVP and Chief eCommerce OfficerJoe Feldman - Senior Managing Director, Assistant Director of Research, and Founding MemberJohn David Rainey - CFOJohn Furner - CEOLatriece Watkins - EVP and Chief Merchandising OfficerSteph Wissink - SVP of Investor RelationsConference Call ParticipantsChristopher Horvers - Managing Director and Senior Equity Research AnalystChuck Grom - Manag ...

Wyndham Hotels & Resorts (NYSE:WH) Q4 2025 Earnings call February 19, 2026 08:00 AM ET Company ParticipantsDavid Katz - Managing DirectorGeoff Ballotti - CEOKurt Albert - Interim CFOMatt Capuzzi - SVP of Investor RelationsMeredith Jensen - US Consumer Equity ResearchPatrick Scholes - Managing Director, Lodging, and Leisure Equity ResearchStephen Grambling - Managing DirectorTrey Bowers - VP and Senior AssociateConference Call ParticipantsBen Chaiken - Equity Research AnalystBrandt Montour - Director and Equ ...

Madrigal Pharmaceuticals (NasdaqGS:MDGL) Q4 2025 Earnings call February 19, 2026 08:00 AM ET Company ParticipantsBill Sibold - CEODavid Soergel - CMOMardi Dier - CFOTina Ventura - Chief Investor Relations OfficerYasmeen Rahimi - 5-star analyst and MdConference Call ParticipantsAlex Thompson - AnalystEllie Merle - Senior Biotech Equity Research AnalystJay Olson - Md and Senior Biotechnology AnalystJonathan Wolleben - Md and Senior Research AnalystManoj Garg - AnalystMichael DiFiore - Equity Research AnalystP ...

Wayfair (NYSE:W) Q4 2025 Earnings call February 19, 2026 08:00 AM ET Company ParticipantsEric Sheridan - Managing DirectorJohn Blackledge - Managing DirectorKate Gulliver - CFONiraj Shah - CEORyan Barney - Senior Manager of Investor RelationsSteve Forbes - Senior Managing DirectorZachary Fadem - Managing DirectorConference Call ParticipantsBrian Nagel - Senior AnalystSimeon Gutman - Research AnalystOperatorHello, everyone. Thank you for joining us, and welcome to the Wayfair Q4 2025 earnings release and con ...

Financial Data and Key Metrics Changes - In 2025, the company produced just over 2 million ounces of gold, achieving a 66% increase in margins compared to a 43% increase in gold prices, resulting in record free cash flow generation of $769 million in Q4 and $2.5 billion for the full year [4][5] - The cost of sales for Q4 was $1,289 per ounce, with all-in sustaining costs at $1,825 per ounce, which were higher than the previous quarter due to increased gold prices and lower planned production [12] - Full-year cost of sales was $1,135 per ounce, and all-in sustaining costs were $1,571 per ounce, in line with guidance despite higher royalties [13] Business Line Data and Key Metrics Changes - Tasiast and Paracatu mines together accounted for approximately 1.1 million ounces of production, with Paracatu exceeding 600,000 ounces and Tasiast being the highest margin operation [5][21] - La Coipa met full-year production guidance with a total of 232,000 ounces, while U.S. assets collectively produced 676,000 ounces at a cost of sales of $1,426 per ounce [24][25] Market Data and Key Metrics Changes - The company expects production to remain around 2 million ounces through the end of the decade, supported by higher-grade mining at Tasiast and new U.S. projects [9] - Cost guidance for 2026 is set at $1,360 per ounce for cost of sales and $1,730 per ounce for all-in sustaining costs, reflecting a 10% increase compared to 2025 due to higher royalties and inflation [16] Company Strategy and Development Direction - The company is proceeding with construction of three high-quality organic growth projects to extend mine life and enhance long-term costs [7] - A disciplined capital allocation strategy will be maintained, focusing on reinvesting in operations while returning approximately 40% of free cash flow to shareholders through dividends and share repurchases [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business outlook, emphasizing strong operational performance and cash flow generation, alongside a commitment to responsible mining and sustainability [46] - The company anticipates higher costs due to inflation and royalties but aims to maintain cost discipline [10] Other Important Information - The company ended the year with approximately $1 billion in net cash and received a credit rating upgrade from Moody's to Baa2 [14][15] - Sustainability initiatives included a 1.5% reduction in greenhouse gas emissions and support for health clinics in Mauritania [11] Q&A Session Summary Question: On Great Bear, the One Project One Process designation - Management confirmed that the designation streamlines the provincial permitting process and enhances relationships with the provincial government, facilitating project advancement [50][51] Question: 2026 cost guidance breakdown - The increase in all-in sustaining costs is primarily due to inflation and higher royalties, with a smaller portion attributed to mine plan sequencing [54] Question: Capital allocation and cash returns - The company prefers buybacks over special dividends for capital returns, aiming to reduce share count and improve per-share metrics [59][60] Question: Updates on Great Bear and Lobo-Marte - Management clarified that updates will focus on ongoing permitting and milestones rather than a new technical study [84] Question: Labor contract renewals - Ongoing negotiations for the Paracatu contract are in progress, with inflation impacts varying by country [82]

Financial Data and Key Metrics Changes - In Q4 2025, total revenue increased by 12% year-over-year on an organic basis, excluding cyclical revenue from political campaign messaging [15][16] - For the full year 2025, total revenue reached $754 million, up 10% organically year-over-year, with a non-GAAP gross margin of 58% and adjusted EBITDA of $93 million [16][19] - Free cash flow for 2025 was $57 million, significantly exceeding the cumulative target of $125 million set for 2026 [7][19] Business Line Data and Key Metrics Changes - Voice segment achieved 11% year-over-year growth driven by increased usage and adoption of voice-based AI applications [15][16] - Messaging segment saw an organic growth of 12% year-over-year, primarily due to robust holiday messaging demand [15][16] - The enterprise voice customer category grew by 21% in 2025, supported by a record number of million-dollar-plus deals [16][17] Market Data and Key Metrics Changes - The company noted strong demand across both voice and messaging markets, with healthy execution contributing to confidence in future growth [8][18] - The political campaign contribution to revenue is expected to be approximately 2.5% of cloud communications revenue for 2026, with monitoring ongoing [32][34] Company Strategy and Development Direction - The company is focused on high-margin innovation, particularly in AI voice tools and orchestration software, which are seen as critical for future growth [6][9] - A share repurchase program of up to $80 million was authorized, reflecting confidence in the business model and cash generation capabilities [8][24] - The company aims for a 15%-20% revenue compound annual growth rate through 2026, with specific targets for gross margin, EBITDA margin, and free cash flow [7][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the upward trajectory of the business, despite market dynamics potentially impacting revenue growth [6][7] - The company anticipates continued growth in voice driven by AI applications and large deal activity, projecting a total revenue growth of approximately 16% year-over-year for 2026 [18][19] - Management highlighted the importance of customer relationships and the durability of the business model, with a customer retention rate above 99% [20][21] Other Important Information - The number of third-party conversational AI developers building on the company's platform has quadrupled over the past six months, indicating strong momentum [13] - The company is positioned at the intersection of enterprise communications and AI, with a robust infrastructure to support future innovations [14][26] Q&A Session Summary Question: Insights on Enterprise Voice segment growth - Management acknowledged a slight tick down in Q4 growth rates but expressed optimism for continued healthy growth in 2026 driven by large deals [30] Question: Political contribution to revenue - Management indicated that political campaign contributions are expected to be around 2.5% of cloud communications revenue for 2026, with ongoing monitoring [32][34] Question: Dynamics between cloud communication growth and total revenue growth - Management explained the difference is due to carrier messaging surcharges, which are expected to increase due to recent price hikes from carriers [38][43] Question: Competitive landscape with Twilio - Management noted that recent customer wins were not influenced by Twilio, highlighting competitive advantages over other carriers [46][47] Question: Details on the insurance example and Google AI integration - Management elaborated on the integration of Google AI within a complex Cisco environment, emphasizing the value of their orchestration platform [51] Question: AI's impact on the business and competitive moats - Management described AI as a significant tailwind for the business, with strong infrastructure and customer relationships serving as competitive advantages [53][54] Question: Pipeline for voice AI and its revenue impact - Management indicated that 2026 is expected to be a pivotal year for AI adoption in voice, with significant revenue implications [58][59] Question: Composition of million-dollar-plus deals - Management confirmed that the number of million-dollar-plus deals in 2025 exceeded previous years, driven by an expanded product portfolio and customer demand for AI integration [60][61]