Earnings Call Transcripts
Access detailed transcripts and key takeaways from company earnings calls
All Earnings Calls
TPG Third Quarter 2025 Earnings Call - Robust Capital Raise and Record Deployment Highlight Growth Momentum
TPG reported a strong Q3 2025 with GAAP net income attributable to the company at $67 million and after-tax attributable earnings of $214 million, or $0.53 per Class A share. The quarter was marked by...
- TPG's Q3 2025 GAAP net income was $67 million with after-tax attributable earnings of $214 million, or $0.53 per share.
- The firm raised nearly $18 billion in Q3 capital, up 60% sequentially and 75% year-over-year, driven by private equity flagship funds and credit strategies.
- Total AUM increased 20% year-over-year to $286 billion, with fee-earning AUM of $163 billion, up 15%.
- +13 more takeaways
Innovative Industrial Properties Inc. Q3 2025 Earnings Call - Strategic Expansion into Life Sciences and Ongoing Cannabis Portfolio Stabilization
Innovative Industrial Properties (IIP) marked Q3 2025 with a bold diversification move, committing $105 million initially to IQHQ, a premier life science real estate platform. This pivot, bolstered by...
- IIP invested an initial $105 million in IQHQ life science platform, with $165 million more to be funded by mid-2027, marking strategic diversification.
- A new $100 million secured revolving credit facility supports IQHQ investment and strengthens IIP’s balance sheet amid growth ambitions.
- Cannabis portfolio faces headwinds: approximately 20% of IIP’s ABR remains non-paying, down from 27% last year, due to tenant defaults and ongoing receiverships.
- +10 more takeaways
ThreadUp Q3 2025 Earnings Call - Record Customer Growth Drives Strongest YoY Revenue Surge in Four Years
ThreadUp delivered a breakout Q3 2025 with revenue up 34% year over year, marking its strongest growth in nearly four years and extending a four-quarter streak of acceleration. Fueled by record new cu...
- ThreadUp achieved its strongest year-over-year revenue growth in nearly four years, with a 34% increase in Q3 2025, fueled by robust customer acquisition and order growth.
- New buyer acquisition surged 54% year over year, while active buyers increased 26%, and orders were up 37%, signaling expanding marketplace engagement.
- The company’s gross margin improved slightly to 79.4%, driven by higher average selling prices from growth in its premium supply offering.
- +12 more takeaways
Eaton Corporation Q3 2025 Earnings Call - Boyd Acquisition Accelerates Growth in Data Center Liquid Cooling
Eaton reported robust Q3 2025 results, driven by surging demand in Electrical Americas and aerospace sectors. Orders accelerated significantly in key growth markets, particularly Latin America and aer...
- Eaton’s Q3 adjusted EPS rose 8%, hitting record segment margins of 25%, up 70 basis points year over year.
- Electrical Americas orders accelerated from 2% in Q2 to 7% rolling 12-months in Q3, with backlog growth of 20% to $12 billion.
- Latin America segment showed order growth of 7% on rolling 12-month basis and backlog at an all-time high, up 20%.
- +14 more takeaways
Viper Energy 3Q 2025 Earnings Call - Leaning Into Buybacks and Growing Production Amid Market Dislocation
Viper Energy’s third quarter 2025 earnings call showcased a company confident in its unique royalty model and growth strategy amid commodity price volatility. The closing of the CTO acquisition and or...
- Viper’s Q4 2025 oil production per share is expected to rise roughly 20% year-over-year, driven by the CTO acquisition and organic growth.
- The company projects mid-single-digit organic oil production growth for 2026 relative to Q4 2025 levels, implying double-digit growth year-over-year for 2026 vs 2025.
- Viper returned 85% of cash available for distribution to shareholders in Q3 2025 through dividends and over $90 million in share buybacks, a 48% increase in return of capital per Class A share from Q2.
- +10 more takeaways
Comstock Resources Q3 2025 Earnings Call - Expanding Western Haynesville and Strong Cash Flow Amid Asset Divestitures
Comstock Resources delivered a robust Q3 2025, capitalizing on rising natural gas demand driven by LNG exports and data center growth. The company highlighted its strategic pivot to develop the Wester...
- Natural gas and oil sales increased 10% in Q3 to $335 million, driven by higher prices and growing production.
- Operating cash flow reached $190 million in Q3, with adjusted EBITDA of $249 million and adjusted net income of $28 million, a significant rebound from a loss last year.
- Western Haynesville drilling inventory disclosed for the first time: 3,332 gross and 2,559 net locations with an estimated 77% working interest.
- +17 more takeaways
Apple Hospitality REIT Q3 2025 Earnings Call - Managing through government travel headwinds with selective dispositions and share repurchases
Apple Hospitality REIT reported a quarter marked by resilient leisure demand yet challenged by government travel pullbacks and macroeconomic uncertainty, resulting in softer RevPAR and occupancy metri...
- Q3 2025 RevPAR declined 1.8% to $124; occupancy down 1.2% to 76%, reflecting resilience in leisure but softer government and midweek transient travel.
- Government shutdown in October 2025 pressured RevPAR by approximately 3%, with government travel share dropping to just under 4%.
- Expense control efforts moderated variable expenses growth, though fixed costs rose 12% driven by real estate taxes and insurance increases.
- +9 more takeaways
Colliers International Q3 2025 Earnings Call - Engineering and Real Estate Services Drive Strong Growth Amid Strategic Integration
Colliers International reported a powerful third quarter in 2025, driven by robust growth across engineering and real estate services segments. The engineering division marked a 36% revenue increase f...
- Colliers delivered a 23% year-over-year revenue growth in Q3 2025 with $1.46 billion in revenues.
- Engineering segment surged 36% in net revenue, propelled by 7 strategic acquisitions and 6% organic growth.
- Real estate services revenues rose 13%, with capital markets increasing 21% and leasing up 14%, especially strong in U.S., U.K., Japan, and Canada.
- +7 more takeaways
Marathon Petroleum Corporation 3Q 2025 Earnings Call - Strong Cash Flow and Strategic Capital Returns Amid Market Volatility
Marathon Petroleum reported robust third-quarter results with $2.4 billion in cash generation and refinery utilization at 95%. Despite a capture rate dip to 96% from a stellar 105% in Q2, largely due ...
- Marathon Petroleum generated $2.4 billion in operating cash flow excluding working capital changes in 3Q 2025, with refinery utilization at 95%.
- Capture rate decreased sequentially to 96% in 3Q due to West Coast margin weakness, jet-to-diesel differential compression, and refinery downtime, but year-to-date capture stands at a strong 102%.
- MPLX expanded its portfolio acquiring a Delaware Basin sour gas treating business and the remaining interest in the Banegas NGL pipeline, and increased its distribution by 12.5%, providing MPC with growing cash flow.
- +7 more takeaways
Boise Cascade Q3 2025 Earnings Call - Resilient Distribution Offsets Wood Products Pressure Amid Market Weakness
Boise Cascade reported a challenging third quarter 2025 with consolidated sales dipping 3% year-over-year to $1.7 billion and net income sharply down to $21.8 million from $91 million the prior year. ...
- Boise Cascade's Q3 2025 consolidated sales fell 3% year-over-year to $1.7 billion, with net income shrinking from $91 million to $21.8 million.
- Wood products segment sales declined 13% and EBITDA plunged due to lower engineered wood products (EWP) and plywood prices, volumes, and higher unit conversion costs.
- EWP volumes dropped 15% sequentially; plywood volumes increased 9% sequentially but prices hit lows unseen since 2020 due to weak demand and unresolved tariff impacts.
- +7 more takeaways