Globe Life (NYSE:GL) Q4 2025 Earnings call February 05, 2026 11:00 AM ET Company ParticipantsFrank Svoboda - Co-CEOJeff Schmitt - Vice President & Senior Private BankerMatt Darden - Co-CEOStephen Mota - Head of Investor RelationsTom Kalmbach - CFOConference Call ParticipantsAndrew Kligerman - Managing Director and Senior Research AnalystJimmy Bhullar - Managing Director and Senior Equity Research AnalystJohn Barnidge - Managing Director and Senior Research AnalystMark Hughes - Managing Director and Equity R ...

Globe Life (NYSE:GL) Q4 2025 Earnings call February 05, 2026 11:00 AM ET Company ParticipantsFrank Svoboda - Co-CEOJeff Schmitt - Vice President & Senior Private BankerMatt Darden - Co-CEOStephen Mota - Head of Investor RelationsTom Kalmbach - CFOConference Call ParticipantsAndrew Kligerman - Managing Director and Senior Research AnalystJimmy Bhullar - Managing Director and Senior Equity Research AnalystJohn Barnidge - Managing Director and Senior Research AnalystMark Hughes - Managing Director and Equity R ...

Financial Data and Key Metrics Changes - Barrick achieved record financial results in Q4 2025, with revenues increasing by 45% from Q3, driven by higher production and a 21% increase in realized gold prices [10] - Net earnings nearly doubled from the prior quarter, and the company reported record quarterly cash flow, free cash flow, earnings per share, and cash balance [10][11] - For the year, cash flow from operations reached $7.7 billion and free cash flow was $3.9 billion, up 71% and 194% year-over-year, respectively [11][12] - The company ended the year with a net cash position of $2 billion, indicating a strong balance sheet [12] Business Line Data and Key Metrics Changes - Gold production increased by 5% from Q3, with a full-year total of 3.26 million ounces, aligning with guidance [8][23] - Copper production rose by 13% from Q3, driven by higher throughput at Lumwana [8] - The operational review led to a restructuring of business units, enhancing operational efficiency [8] Market Data and Key Metrics Changes - The gold price increased by 21%, contributing to higher margins and cash flow [10][12] - The company anticipates gold production in 2026 to be between 2.9-3.25 million ounces, with a focus on ramping up production at Loulo-Gounkoto [23] Company Strategy and Development Direction - Barrick plans to proceed with an IPO of its North American gold assets, targeting completion by late 2026 to maximize shareholder value [5][26] - The company is focused on safety as its top priority for 2026, following operational achievements overshadowed by fatalities in the previous year [6][7] - The management team has been restructured to enhance operational experience and efficiency [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving production guidance for 2026, citing a strong start to the year and improved operational discipline [16][17] - The company is committed to maintaining a focus on high-quality assets and strategic growth, particularly in North America [33][103] Other Important Information - The board has authorized a new dividend policy, increasing the base dividend by 40% to $0.175 per quarter, with a target to pay out 50% of attributable free cash flow [13][14] - The company has successfully resolved disputes in Mali, regaining operational control and ramping up production [21][76] Q&A Session Summary Question: Can you discuss the strategic rationale behind the IPO of NGM and PV? - Management believes a partial IPO will unlock more value than a full separation, as the North American assets are undervalued within Barrick [31][34] Question: What are the intended proceeds from the IPO? - The specifics of the use of proceeds will be determined as part of the preparation work for the IPO [36] Question: Can you provide an update on the Reko Diq financing? - Management is reviewing the security situation in Balochistan before proceeding with financing [40] Question: How has the mine plan review impacted guidance, particularly for Carlin? - The review has led to more realistic production targets based on actual performance, with a focus on achieving consistent delivery [44][46] Question: Is Veladero considered a non-core asset? - Veladero is not non-core and has been one of the top-performing assets in the last year [57] Question: What is the expected recovery rate at PV? - The target recovery rate is 84%, with ongoing efforts to optimize stockpile blending [62][64] Question: Will Barrick sell more gold assets in the future? - The focus remains on high-quality assets, and any dispositions will align with the strategic filter [103]

Modine Manufacturing Company (NYSE:MOD) Q3 2026 Earnings call February 05, 2026 11:00 AM ET Company ParticipantsBrian Drab - Co-Group Head of IndustrialsDavid Tarantino - Assistant VPKathy Powers - Vice President, Treasurer, Corporate Communications and Investor RelationMick Lucareli - EVP and CFONeil Brinker - CEONoah Kaye - Managing DirectorConference Call ParticipantsBrian Sponheimer - AnalystChris Moore - Senior AnalystJeff Van Sinderen - Senior AnalystMatt Summerville - Senior AnalystNeal Burk - Equity ...

NOV (NYSE:NOV) Q4 2025 Earnings call February 05, 2026 11:00 AM ET Company ParticipantsAmy D'Ambrosio - Director of Investor RelationsJeff LeBlanc - TPH and CompanyJim Rollyson - DirectorJose Bayardo - CEOMarc Bianchi - Managing DirectorRodney Reed - CFOStephen Gengaro - Managing DirectorConference Call ParticipantsDaniel Kutz - VP and Equity AnalystOperatorDay, and thank you for standing by. Welcome to the NOV Fourth Quarter 2025 Earnings Conference Call. At this time, all participants are on a listen-only ...

Financial Data and Key Metrics Changes - Third quarter net sales were $461 million, a 17% increase year-over-year [4] - Consolidated gross margin for the quarter was 44.3%, with an adjusted gross margin of 45.1% [4][13] - Adjusted diluted EPS was $3.04, representing a 30% improvement from $2.34 a year ago [4] - EBITDA increased to $149.6 million, up 22% from $122.6 million last year [4][16] - Free cash flow for the period was $99.1 million, with a conversion rate of 147% [16] Business Line Data and Key Metrics Changes - Aerospace & Defense (A&D) sales increased by 41.5% year-over-year, with commercial aerospace expanding by 21.5% and defense by 86.2% [5][13] - Industrial business grew by 3.1%, with industrial distribution up 1.5% and OEM sector up 7% [10][11] - A&D gross margins were 40.1%, or 42.2% on an adjusted basis, while industrial margins were 47.5% [14] Market Data and Key Metrics Changes - 56% of revenues were from industrial sectors, while 44% came from A&D [5] - The company has exceeded a $2 billion backlog, indicating strong demand across A&D sectors [5] - The semiconductor industry showed significant demand growth, contributing positively to order trends [11] Company Strategy and Development Direction - The company is focused on expanding its A&D revenues by adding machinery and staff to support growth [10] - A five-year plan is in place to enhance production capabilities across existing sites [10] - The company aims to maintain a capital allocation strategy focused on deleveraging and paying off debt [16] Management's Comments on Operating Environment and Future Outlook - Management described the A&D sector's outlook as extremely robust, driven by national defense priorities and commercial aircraft build rates [6][10] - The company expects continued margin improvement in A&D due to increased efficiencies and better pricing on contracts [14] - For the fourth quarter, revenue guidance is set at $495 million to $505 million, representing year-over-year growth of 13.1% to 15.4% [17] Other Important Information - The company paid down an additional $81 million of debt during the third quarter [5][16] - Interest expense decreased by 8.5% year-over-year, reflecting improved leverage and lower interest rates [15] Q&A Session Summary Question: Can you provide details on the industrial business outlook for Q4 and 2027 growth? - Management expects Q4 growth to be similar to Q3, with positive PMI trends indicating a bullish sign for the business [20] Question: What is the composition of the backlog and its relationship with revenue? - Over 90% of the backlog is from the A&D market, with some contracts extending beyond 12-24 months [28] Question: How do you view the growth potential for the missile business relative to commercial aerospace? - Management indicated that while missile business growth is significant, it is not expected to surpass the commercial aircraft business [48] Question: Can you clarify the production rates for Boeing and Airbus programs? - Boeing is increasing production rates, with the 737 aiming for 60 units per month in the near future [57] Question: What is the expected capital expenditure for the upcoming periods? - Capital expenditures are expected to remain around 3.5% of revenue, with modest investments to meet demand [75]

West Pharmaceutical Services (NYSE:WST) Update / briefing February 05, 2026 11:00 AM ET Company ParticipantsBettina Boltres - Director of Scientific Affairs, Integrated SystemsModeratorAs drug development teams finalize molecule optimization, packaging development begins. Often, it's time-consuming process of evaluating multiple components, suppliers, and test results. For prefilled syringes regulated as combination products, ambiguous requirements, and extensive verification can add months to clinical time ...

O’Reilly Automotive (NasdaqGS:ORLY) Q4 2025 Earnings call February 05, 2026 11:00 AM ET Company ParticipantsBrad W. Beckham - CEOBrent G. Kirby - PresidentJeremy Fletcher - CFOSteven Zaccone - Director of Equity ResearchConference Call ParticipantsBrian Nagel - AnalystGreg Melich - Managing Director and Senior Equity Research AnalystMichael Lasser - AnalystSteven Forbes - AnalystZachary Fadem - AnalystOperatorWelcome to the O'Reilly Automotive Inc. fourth quarter and full year 2025 earnings call. My name is ...

Financial Data and Key Metrics Changes - Sales for fiscal 2025 were $54.4 billion, representing a 2.1% increase compared to the previous year [30] - Operating cash flows for the full year reached $2.2 billion, significantly exceeding capital expenditures of $978 million and dividends of $697 million [31] - The company ended the year with $3.7 billion in liquidity and a net leverage ratio of 2.1 times, improving by half a turn compared to last year [31] Business Line Data and Key Metrics Changes - Tyson Foods is a leader in protein production, accounting for one in every five pounds of chicken, beef, and pork in the U.S. [33] - The company has three of the top ten protein brands in the U.S., including Tyson, Jimmy Dean, and Hillshire Farm, which continue to gain market share [34] Market Data and Key Metrics Changes - Demand for Tyson products is growing as consumers prioritize protein in their diets, supported by new U.S. dietary guidelines [33] - Tyson's branded products are outperforming the broader food category in both retail and food service [34] Company Strategy and Development Direction - The company is focused on improving operational execution and driving better financial performance through disciplined capital management [30] - Tyson Foods aims to continue providing nutritious, affordable, and convenient food while enhancing its leadership pipeline and operational expertise [35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to capitalize on future opportunities and emphasized the importance of team members in achieving success [36] - The leadership team is committed to maintaining financial strength and returning cash to shareholders while investing in the business [31] Other Important Information - The annual dividend per Class A share is expected to increase to $2.04 in fiscal 2026, marking the 14th consecutive year of dividend increases [32] - The company has faced shareholder proposals regarding transparency and environmental impacts, which were ultimately voted against [17][23][28] Q&A Session Summary Question: Shareholder proposal for voting results disclosure - Management stated that the board's disclosures comply with all requirements and emphasized their commitment to creating value for shareholders [17] - The proposal received a minority of votes in favor and was ultimately defeated [17] Question: Shareholder proposal on environmental impacts from waste lagoons - Management acknowledged the complexity of the issue and reiterated their commitment to best practices and community responsibility [22] - The proposal also received a minority of votes in favor and was defeated [23] Question: Shareholder proposal regarding the impact of immigration law changes - Management emphasized the importance of creating a safe and supportive work environment for all team members [27] - This proposal similarly received a minority of votes in favor and was defeated [28]

Financial Data and Key Metrics Changes - Third quarter net sales were $461 million, a 17% increase year-over-year [4] - Consolidated gross margin for the quarter was 44.3%, with an adjusted gross margin of 45.1% [4][13] - Adjusted diluted EPS was $3.04, representing a 30% improvement from $2.34 a year ago [4] - EBITDA increased to $149.6 million, up 22% from $122.6 million last year [4][16] - Free cash flow for the period was $99.1 million, with a conversion rate of 147% [16] Business Line Data and Key Metrics Changes - Aerospace & Defense (A&D) sales increased by 41.5% year-over-year, with commercial aerospace expanding by 21.5% and defense by 86.2% [5][13] - Industrial business grew by 3.1%, with industrial distribution up 1.5% and OEM sector up 7% [10][11] - A&D gross margins were 40.1%, or 42.2% on an adjusted basis, while industrial margins were 47.5% [13][14] Market Data and Key Metrics Changes - 56% of revenues were from industrial sectors, while 44% came from A&D [5] - Demand in the A&D sector remains robust, with a backlog exceeding $2 billion [5][6] - The semiconductor industry showed significant recovery, contributing positively to order demand [11] Company Strategy and Development Direction - The company is focused on expanding its A&D revenues by adding machinery and staff to support growth [10] - A five-year plan is in place to enhance production capabilities across existing sites [10] - The capital allocation strategy emphasizes deleveraging by using generated cash to pay off debt [16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the A&D sector, describing it as extremely robust with unprecedented demand for products [6][10] - The outlook for the fourth quarter projects revenues between $495 million and $505 million, indicating year-over-year growth of 13.1% to 15.4% [17] - Management expects continued margin improvement driven by efficiencies and better pricing on customer contracts [14] Other Important Information - The company paid down an additional $81 million of debt during the third quarter [5][16] - Interest expense decreased by 8.5% year-over-year, reflecting improved leverage and lower interest rates [15] Q&A Session Summary Question: Can you provide insights on the industrial business and revenue outlook for Q4? - Management expects Q4 growth to resemble Q3, with a slightly conservative outlook for the industrial side [20] Question: Are there other applications for the quiet running valve technology outside submarines? - The technology has applications in space on satellites [21] Question: What is the composition of the backlog and its relationship with future revenue? - Over 90% of the backlog is from the A&D market, with some contracts extending beyond 12-24 months [28] Question: How do you see the industrial business performing relative to peers? - Management anticipates the industrial business will outperform peers, expecting high single-digit growth [92] Question: Can you clarify the production rates for Boeing and Airbus programs? - Boeing is increasing production rates, with the 737 aiming for 60 per month in the near future [57] Question: What is the expected growth for the missile business relative to commercial aerospace? - The missile business is expected to grow but will not reach the size of the commercial aircraft business [48]