Earnings Call Transcripts
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All Earnings Calls
General Dynamics Fourth Quarter 2025 Earnings Call - Record Backlog and Cash Fund Heavy CapEx to Speed Shipbuilding and Jet Production
General Dynamics closed 2025 with a blockbuster backlog and cash flow, and management is betting both to fund a multiyear investment cycle. Backlog and total estimated contract value hit record highs ...
- Record backlog and TEV, period. Total backlog rose to $118 billion, and total estimated contract value reached $179 billion, up 30% and 24% year over year respectively, giving GD unprecedented forward revenue visibility.
- Strong cash generation. Operating cash flow was $5.1 billion in 2025, free cash flow was just under $4 billion, and cash conversion hit 94%, prompting management to target 100% conversion in 2026.
- Aggressive capex plan. Management will increase capital spending by over $900 million in 2026, roughly a 79% rise versus 2025, to expand shipyard and production capacity, particularly at Electric Boat.
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Otis Worldwide Corporation Q4 2025 Earnings Call - Record modernization backlog fuels service-driven cash flow and margin expansion
Otis closed 2025 on a clear theme, not a fluke. The service flywheel kept the company profitable and liquid, with Q4 adjusted free cash flow hitting a post-spin high of $817 million and full-year adju...
- Record Q4 adjusted free cash flow of $817 million, driving full-year adjusted FCF of about $1.6 billion and enabling ~$1.5 billion returned to shareholders in 2025.
- Service-led model shows traction, with service organic sales up 5% in Q4; maintenance and repair +4%, modernization sales +9%.
- Modernization orders surged 43% in Q4 at constant currency, leaving modernization backlog up 30% year-over-year, highest since spin.
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WesBanco Fourth Quarter 2025 Earnings Call - Growth and Margin Expansion Offset by Elevated CRE Payoffs
WesBanco leaned into a growth playbook in 2025, reporting double-digit earnings gains driven by loan growth funded entirely by deposits, a wider net interest margin, and efficiency improvements. Manag...
- Management reports full-year pre-tax, pre-provision earnings roughly doubled year-over-year, and EPS of $3.40 for 2025 when excluding merger-related charges and day-one PCL on acquired loans.
- Fourth quarter diluted EPS, excluding merger and restructuring expenses, was $0.84, up 18% year-over-year; GAAP Q4 EPS was $0.81.
- Net interest margin improved to 3.61% in Q4, up 58 basis points year-over-year and 8 basis points sequentially, aided by exceptional deposit growth that replaced higher-cost FHLB borrowings.
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AT&T Q4 2025 Earnings Call - Aggressive fiber and 5G push to 40M locations, $45B shareholder return plan
AT&T closed 2025 having met or exceeded guidance, driven by another year of strong 5G and fiber subscriber growth and the rapid scaling of fixed wireless. Management is doubling down: EchoStar spectru...
- AT&T met or exceeded full-year 2025 guidance, driven by sustained subscriber momentum in 5G and fiber.
- Postpaid phone net adds were over 1.5 million for the fifth straight year, and AT&T Fiber net adds exceeded 1 million for the eighth consecutive year.
- AT&T Internet Air (fixed wireless) added 875,000 net customers in 2025, more than doubling the base and contributing to the best year for consumer broadband net growth in a decade.
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Bridgewater Bankshares Q4 2025 Earnings Call - NIM expansion, pulling 3.0% NIM into 2026
Bridgewater closed 2025 on a clear uptick: margin expansion, strong revenue, loan and core deposit growth, and tighter expense control. NIM rose 12 basis points to 2.75% in Q4, driven by a 22-basis-po...
- Net interest margin expanded 12 basis points to 2.75% in Q4, primarily from lower deposit costs and loan repricing.
- Management now expects to reach a 3.0% NIM by the end of 2026, a year earlier than prior guidance, and this projection assumes no further Fed cuts.
- Deposit costs fell 22 basis points to 2.97% in Q4, aided by $1.8 billion of funding tied to short-term rates, including $1.4 billion of immediately adjustable deposits.
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ADP Second Quarter Fiscal 2026 Earnings Call - Upgraded FY26 Outlook After Broad-Based Growth, Lyric & AI Traction
ADP delivered a tidy quarter: 6% revenue growth, 80 basis points of adjusted EBIT margin expansion, and 11% adjusted EPS growth, and management nudged full-year targets higher. The report leaned on br...
- Reported Q2 FY2026 results: revenue +6%, adjusted EBIT margin +80 basis points, adjusted EPS +11%.
- Employer Services (ES) revenue +6% reported, +5% organic constant currency; FX added ~1 point of growth in Q2.
- ES new business bookings were solid and broad-based; company maintained FY26 ES bookings guidance of 4%–7%.
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Corning Incorporated Fourth Quarter 2025 Earnings Call - Springboard upgraded to $11B by 2028, Meta deal anchors U.S. optical expansion
Corning closed 2025 with a clean one-two punch, beating on growth and profitability and then upgrading the playbook. Q4 sales rose 14% to $4.41 billion, EPS jumped 26% to $0.72, operating margin hit 2...
- Q4 2025 sales grew 14% year-over-year to $4.41 billion; EPS rose 26% to $0.72; operating margin expanded to 20.2%, hitting the Springboard 20% target a year early.
- Springboard upgraded: internal plan now targets $11 billion of incremental annualized sales by the end of 2028, up from the original $8 billion.
- Near-term upgrade: internal Springboard now adds $6.5 billion by end-2026 (previously $6.0B); high-confidence plan now adds $5.75 billion by end-2026 (previously $4.0B).
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Littelfuse Fourth Quarter 2025 Earnings Call - Basler Deal and Data Center Momentum Set Up High-Power Growth
Littelfuse closed 2025 with tangible operational progress and a strategic pivot toward high-power markets, led by the December acquisition of Basler Electric. Q4 revenue came in at $594 million, up 12...
- Littelfuse reported Q4 revenue of $594 million, up 12% year over year and up 7% on an organic basis.
- Adjusted EBITDA margin in Q4 was 20.5%, up 480 basis points year over year, and adjusted diluted EPS was $2.69.
- The company closed the Basler Electric acquisition in December, expecting Basler to add $130 million to $135 million of revenue and $0.10 to $0.15 of adjusted EPS in 2026.
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Elevance Health Fourth Quarter 2025 Earnings Call - 2026 Year of Execution, EPS Guidance at Least $25.50 as Medicaid Hits a Trough
Elevance walked investors through a year of repositioning for 2026, setting adjusted diluted EPS guidance of at least $25.50 while calling 2026 a trough year for Medicaid. Management flagged meaningfu...
- Adjusted diluted EPS: $3.33 in Q4 2025, $30.29 for full year 2025; results included about $3.75 per share of favorable non-recurring items.
- Management set 2026 adjusted diluted EPS guidance of at least $25.50, calling 2026 a year of execution and repositioning.
- Membership ended 2025 at 45.2 million, down roughly 500,000 year over year, driven principally by Medicaid reverification impacts.
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Orrstown Financial Services, Inc. Q4 2025 Earnings Call - Record 2025 Net Income, NIM Near Peer Top
Orrstown closed 2025 with the strongest annual profit in its 106-year history, reporting $80.9 million of net income and a full-year net interest margin near the top of regional peers. Q4 momentum car...
- Record annual net income of $80.9 million for 2025, the highest in the company’s 106-year history; Q4 net income was $21.5 million, or $1.11 per diluted share.
- Net interest margin held near peer top, 4.04% for the year and 4.00% in Q4, despite quarter-over-quarter compression driven by lower variable loan yields and purchase accounting dynamics.
- Management guides 2026 NIM to a range of 3.90% to 4.00%, expecting funding costs to decline starting Q1 2026; if Fed cuts do not materialize, NIM could be higher.
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