ArcBest (NasdaqGS:ARCB) Q4 2025 Earnings call January 30, 2026 09:30 AM ET Speaker6Good morning, and thank you for standing by. Welcome to the ArcBest Fourth Quarter 2025 Earnings Conference Call. During the presentation, all participants will be in a listen-only mode. Afterwards, we will conduct a question-and-answer session. As a reminder, this call is being recorded. I will now turn it over to Amy Mendenhall, Vice President, Treasury, and Investor Relations. Please go ahead.Speaker0Good morning. I'm here ...

Invesco Mortgage Capital (NYSE:IVR) Q4 2025 Earnings call January 30, 2026 09:00 AM ET Company ParticipantsBrian Norris - CIOGreg Seals - Head of Investor RelationsJason Stewart - Md & Head of Specialty Finance & Real Estate ResearchJason Weaver - Md & Head of Specialty Finance & Real Estate ResearchJohn Anzalone - CEOConference Call ParticipantsDouglas Harter - Director & Senior Equity Research AnalystEric Hagen - Md & Mortgage & Specialty Finance AnalystTrevor Cranston - Director & Senior Equity Research ...

Financial Data and Key Metrics Changes - Hilltop reported net income of approximately $42 million for Q4 2025, equating to $0.69 per diluted share, with a return on average assets of 1.1% and return on average equity of 7.6% [7] - For the full year 2025, consolidated income attributable to common stockholders was $165.6 million, representing a 46% increase compared to the prior year [15] - Total revenues for 2025 increased by 8% to approximately $1.3 billion, while expenses grew by only 2%, resulting in positive operating leverage of 6% [15] Business Line Data and Key Metrics Changes - PlainsCapital Bank experienced an expansion in net interest margin, increasing by 12 basis points year-over-year, and generated $43.5 million in pre-tax income [4][7] - PrimeLending reported a pre-tax loss of $5 million in Q4 2025, with origination volume of $2.4 billion, indicating a seasonal rebound despite ongoing industry challenges [9][10] - Hilltop Securities achieved a pre-tax margin of 18% on net revenues of $138 million, with public finance services seeing a 20% year-over-year increase in net revenues [10][11] Market Data and Key Metrics Changes - The average total deposits for Q4 2025 were approximately $10.7 billion, a decline of $233 million compared to Q4 2024, driven by the return of sweep deposits [19] - The interest-bearing deposit cost decreased to 269 basis points, down 44 basis points from the prior year [20] - Mortgage-related income and fees increased by $2.5 million compared to Q4 2024, driven by improvements in lock and originated volumes [20] Company Strategy and Development Direction - Hilltop aims to be a full solution provider to clients, focusing on executing strategic initiatives while maintaining solid capital levels with a Common Equity Tier 1 capital ratio of 19.7% [12] - The company is actively evaluating acquisition opportunities while also focusing on organic growth amidst a competitive market environment [47][48] - Management emphasized the importance of operational cost reductions and efficiency improvements to navigate the challenging mortgage industry landscape [10][25] Management Comments on Operating Environment and Future Outlook - Management noted a positive interest rate environment supporting expanded net interest margins, despite increasing competition [8] - The outlook for 2026 anticipates average bank loan growth of 4%-6%, excluding the impact of loans retained from PrimeLending [26] - There is uncertainty regarding interest rates and inflation, but management remains optimistic about the company's positioning for long-term success [28] Other Important Information - Hilltop returned $229 million to stockholders through share repurchases and dividends in 2025 [6] - The allowance for credit losses decreased by $3.6 million to $91.5 million, with net charge-offs of $11.5 million recorded in Q4 2025 [15][17] Q&A Session Summary Question: Expectations for broker-dealer fees and pre-tax margin for 2026 - Management expressed confidence in the stability of broker-dealer fees and indicated that a pre-tax margin of 13.5% is a reasonable baseline for 2026 [33][38] Question: Sensitivity of NII to potential Fed rate cuts - Management noted that every 25 basis points reduction in rates could impact NII by approximately $4.5 million, with broker fee income being more variable [39][41] Question: Discussion on capital priorities and M&A opportunities - Management highlighted the increase in dividends and standard share repurchase authorization, while also evaluating acquisition opportunities amidst a competitive landscape [46][48] Question: Loan growth pipeline and pricing competition - The loan pipeline entering 2026 is approximately $2.6 billion, with management noting increased competition in loan pricing due to the current rate environment [58] Question: Expectations for gain on sale margins in the mortgage sector - Management expects stable revenue from gain on sale margins and mortgage origination fees, with a projected range of 350-360 basis points [59][60]

Financial Data and Key Metrics Changes - The annual meeting confirmed that all 10 director nominees were elected, and the compensation for named executive officers was approved, indicating shareholder support for management [7] - KPMG was ratified as the independent registered public accounting firm for fiscal 2026, reflecting confidence in the company's financial oversight [7] Business Line Data and Key Metrics Changes - No specific financial data or metrics related to individual business lines were discussed during the meeting [3][4] Market Data and Key Metrics Changes - There were no specific market data or metrics changes mentioned in the meeting [3][4] Company Strategy and Development Direction - The company is focused on maintaining shareholder engagement through virtual meetings, which allows for broader participation and cost savings [3] - The upcoming first quarter earnings call is scheduled for February 5, 2026, indicating a commitment to transparency and regular communication with shareholders [10] Management Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook during this meeting, as there were no questions submitted by shareholders [5][10] Other Important Information - The meeting was conducted virtually to enhance shareholder participation and reduce costs [3] - The results of the voting will be reported in a Form 8-K, ensuring compliance with regulatory requirements [8] Q&A Session Summary Question: Were there any questions submitted by shareholders? - No questions were submitted in advance relating to the items of business being voted on at the meeting [5] - Management invited shareholders to reach out to the Investor Relations team for any additional questions after the meeting [9]

Financial Data and Key Metrics Changes - The Hartford reported Core Earnings of $3.8 billion for 2025, with a Core Earnings ROE of 19.4% [5][16] - Core earnings for Q4 2025 were $1.1 billion, or $4.06 per diluted share [16] - The business insurance segment achieved written premium growth of 7% with an underlying combined ratio of 88.1 [16] - The overall expense ratio for business insurance increased to 31.8, up 1 point from the prior year [17] Business Line Data and Key Metrics Changes - Business insurance delivered robust top-line growth of 8%, with small business written premium of $6 billion and an underlying combined ratio of 88.9 [4][9] - Personal insurance core earnings were $214 million, with an underlying combined ratio of 84.3, reflecting a 5.9 point improvement [18] - Employee benefits reported a Core Earnings margin of 7.6%, driven by strong group life and disability performance [22] Market Data and Key Metrics Changes - Business insurance renewal written pricing, excluding workers' compensation, was 6.1% for the quarter [10] - The property pricing continued to moderate, while casualty lines remained firm and above loss trend [11] - The investment portfolio generated net investment income of $832 million, a 17% increase from Q4 2024 [24] Company Strategy and Development Direction - The Hartford is focused on innovation and technology, with investments in AI to enhance underwriting and claims processes [7][8] - The company aims to sustain industry-leading ROEs through disciplined underwriting and risk selection, particularly in the SME segment [11][15] - The strategy includes expanding market share in personal insurance and employee benefits while maintaining profitability [13][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to sustain favorable renewal premium changes in small business due to strong market positioning and relationships with agents [30][32] - The company anticipates continued growth in the employee benefits segment, supported by investments in technology and new product offerings [22][63] - Management remains optimistic about the overall economic conditions and the potential for growth in 2026 [77] Other Important Information - The Hartford's catastrophe exposure is actively managed through disciplined underwriting and a robust reinsurance program [21][22] - The company plans to increase quarterly share repurchases to $450 million, subject to market conditions [25] Q&A Session Summary Question: How long can favorable renewal premium changes in small business be sustained? - Management believes the small business segment can continue to grow at healthy levels due to strong market differentiation and agent relationships [30][32] Question: What is the outlook for the Prevail platform? - The Prevail platform is expected to grow significantly, with plans to expand into 30 states by early 2027, enhancing market competitiveness [35][38] Question: What is the rationale behind the increase in dividends versus share buybacks? - The increase in dividends is balanced with share buyback levels to maintain flexibility and support long-term capital strategies [41][42] Question: How does the company view the impact of AI on the workforce? - Management sees potential for increased startup activity and small business formation, positioning The Hartford as a net winner in the evolving landscape [81] Question: What is the expected impact of Winter Storm Fern? - Management considers it a manageable event with minimal impact on claims activity compared to previous storms [84][86]

Olin (NYSE:OLN) Q4 2025 Earnings call January 30, 2026 09:00 AM ET Company ParticipantsAleksey Yefremov - Managing DirectorDavid Begleiter - Managing DirectorFrank Mitsch - Managing DirectorJohn Roberts - Managing DirectorKen Lane - President and CEOKevin McCarthy - PartnerSteve Keenan - Head of Investor RelationsTodd Slater - CFOConference Call ParticipantsArun Viswanathan - Senior Equity AnalystHassan Ahmed - Senior Equity AnalystPatrick Cunningham - Senior AnalystPeter Osterland - Equity Research Analyst ...

Deutsche Bank (NYSE:DB) Q4 2025 Earnings call January 30, 2026 09:00 AM ET Company ParticipantsCorinne Cunningham - Partner of Credit ResearchJames von Moltke - CFOLee Street - Vice President and Distressed Debt Trading StrategistPhilip Teuchner - Head of Investor RelationsRaja Akram - CFO DesignateRichard Stewart - Group TreasurerRobert Smalley - Managing DirectorOperatorLadies and gentlemen, welcome to the Q4 2025 Fixed Income Conference Call and Live Webcast. I'm Moritz, the call operator. I would like t ...

Financial Data and Key Metrics Changes - The company reported a total of 7,956,116 ordinary shares issued and outstanding as of December 8, 2025, with 7,956,116 shares represented at the meeting, indicating a quorum of 45.73% of the outstanding shares [6][7]. Business Line Data and Key Metrics Changes - No specific data on business lines or key metrics changes were provided in the meeting records. Market Data and Key Metrics Changes - No specific market data or key metrics changes were discussed during the meeting. Company Strategy and Development Direction and Industry Competition - The company proposed a dual class structure for its shares, which includes Class A Ordinary Shares with one vote each and Class B Ordinary Shares with 25 votes each, indicating a strategic move to consolidate control [3]. Management's Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook during the meeting. Other Important Information - The meeting included the approval of several resolutions, including the adoption of a new Memorandum of Association, a share capital reorganization proposal, and the appointment of independent auditors for the fiscal year ending December 31, 2025 [2][4][5]. Q&A Session All Questions and Answers Question: Were there any questions submitted during the meeting? - No questions were submitted during the meeting, and the session proceeded directly to voting [9][10].

Financial Data and Key Metrics Changes - Financial conditions improved during the quarter, supported by two Federal Reserve rate cuts, solid corporate earnings, and strong economic growth [4] - Book value per common share increased by 3.7% to $8.72, resulting in an 8% economic return for the quarter [7] - The liquidity position remained robust with $453 million in unrestricted cash and unencumbered assets [8] Business Line Data and Key Metrics Changes - The agency mortgage portfolio was valued at $5.4 billion, while the agency CMBS portfolio was $900 million [8] - Agency RMBS investments increased by 11% quarter over quarter, focusing on 5% and 5.5% coupons [18] - The agency CMBS allocation declined modestly due to growth in the overall portfolio, despite no new purchases [21] Market Data and Key Metrics Changes - Interest rates were generally stable, with the 10-year Treasury yield ending the year at 4.17%, 40 basis points lower than the start of the year [10] - The yield curve steepened, benefiting longer-term investments such as agency RMBS and agency CMBS [11] - Agency mortgages delivered strong performance, driven by reduced interest rate volatility and robust demand from money managers [13] Company Strategy and Development Direction - The company remains positive on agency mortgages, anticipating favorable conditions due to lower interest rate volatility and expectations for broadening demand [9] - The strategy includes a focus on specified pools with lower loan balances to enhance predictability of cash flows [19] - The company plans to selectively access the ATM for capital raising when conditions are favorable [42] Management's Comments on Operating Environment and Future Outlook - Management noted that the economic environment is supportive, with expectations for additional Federal Reserve rate cuts through 2026 [6] - The company views near-term risks as balanced, with a positive outlook for agency mortgages due to favorable supply and demand technicals [26] - Management highlighted that the current environment reflects a more normalized investment landscape, providing attractive levered returns [25] Other Important Information - The Federal Reserve ended its quantitative tightening program, which alleviated funding pressures and improved repo spreads [12] - The company reported a 4.5% increase in book value since year-end through the week of the call [25] Q&A Session Summary Question: Can you talk about your approach to leverage levels post the tightening and where you find value within the coupon stack? - Management indicated that leverage was modestly increased in Q4, reflecting a positive environment, and they are comfortable with current levels despite tighter spreads [30] Question: Have you seen any surprises in prepayment reports within the specified pool portfolio? - Management noted no significant surprises, with prepayment speeds in higher coupons increasing but less impacted due to prepayment protection [33] Question: Have you continued rotating down in coupon with new capital invested? - Management confirmed a focus on lower coupons, particularly in the 3.5-5.5 range, due to attractive conditions in the TBA dollar roll market [36] Question: Can you discuss your capital structure and ability to raise capital going forward? - Management expressed confidence in their capital structure, indicating selective access to the ATM when beneficial to shareholders [42] Question: How should we think about book value sensitivity and overall upside to further spread tightening? - Management stated that while the magnitude of change in book value to spread changes remains the same, expectations for further spread tightening are reduced [56]

Financial Data and Key Metrics Changes - The company has 68,570,616 shares of common stock outstanding, each entitled to one vote [2] - The meeting confirmed that a quorum was present, allowing the meeting to proceed [3] Business Lines Data and Key Metrics Changes - No specific data on business lines or key metrics was provided in the meeting [6][9] Market Data and Key Metrics Changes - No specific market data or key metrics were discussed during the meeting [6][9] Company Strategy and Development Direction and Industry Competition - The company plans to release fiscal 2026 first-quarter results on February 5, indicating a focus on transparency and communication with shareholders [6] - The company has nominated a slate of directors for a one-year term, suggesting a stable governance structure [4] Management's Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook during this meeting [8][9] Other Important Information - The company will file a Form 8-K with the SEC to report the full results of the voting within four business days [7] Q&A Session All Questions and Answers - No questions were submitted during the Q&A portion of the meeting [9]