Earnings Call Transcripts
Access detailed transcripts and key takeaways from company earnings calls
All Earnings Calls
Northrop Grumman Q4 2025 Earnings Call - Record Backlog and Capacity Build-Out Set Stage for Acceleration
Northrop Grumman closed 2025 with a record backlog of about $95-$96 billion after $46 billion of net awards, delivered 2025 sales of $42 billion and free cash flow of $3.3 billion, and beat the high e...
- Record backlog near $95-$96 billion at year end, driven by roughly $46 billion in net awards in 2025.
- 2025 sales were $42.0 billion, above the high end of guidance, with Q4 sales $11.7 billion, up 10% year over year.
- Free cash flow for 2025 was $3.3 billion, up 26% versus 2024, the third straight year of at least 25% FCF growth.
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Union Pacific Q4 2025 Earnings Call - Operational Records, Mid-Single-Digit EPS Guide and Merger Moves Through a Procedural Hiccup
Union Pacific closed 2025 with record operational and financial outcomes, even as Q4 volumes softened and macro indicators cooled. Management reported best-ever full-year safety and operational metric...
- Full-year 2025 reported net income $7.1 billion, up 6%, and EPS $11.98, up 8%.
- 2025 freight revenue excluding fuel grew 3% year-over-year, setting a full-year record.
- Adjusted full-year operating ratio improved 60 basis points to 59.3% versus 2024.
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World Acceptance Corporation Third Quarter 2026 Earnings Call - New-customer surge lifts yields while early delinquencies fall
World Acceptance reported a clear pivot back to growth in Q3 fiscal 2026, driven by a heavy uptick in new-customer originations and improving yield dynamics. Originations and active new-customer balan...
- New-customer originations rose 16% in the quarter, driving portfolio growth.
- Active new-customer outstanding ledger was 25% higher than the same quarter last year.
- Management noted these new customers are the riskiest segment and referenced a roughly $8 million additional provision for new customers in the comparable quarter last year.
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Invesco Q4 2025 Earnings Call - Recapitalization and QQQ Conversion Stabilize Revenue and Accelerate EPS
Invesco closed 2025 by reshaping its balance sheet and product mix, converting the QQQ into a revenue-generating long-term ETF while repurchasing $1.5 billion of preferred stock. Those moves, combined...
- Invesco finished 2025 with record AUM of $2.2 trillion, driven by $19 billion of net long-term inflows in Q4 and $80 billion for the full year.
- Management completed the QQQ conversion on December 20, bringing the $407 billion fund into long-term AUM and adding roughly 6 basis points to management-fee yield.
- The company repurchased $1.5 billion of preferred stock in 2025, reducing preferred outstanding to $2.5 billion and freeing up $88.5 million in annual preferred dividends that will flow to common shareholders.
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Eagle Financial Services Q4 2025 Earnings Call - Loan Momentum and Wealth Fees Cushion Margin Pressure as Efficiency Slips
Eagle Financial closed Q4 with a $4.3 million net income, down from $5.6 million in Q3, as lower net interest income and deliberate investments in people dented quarterly profitability. NII fell 4.8% ...
- Net income for Q4 2025 was $4.3 million, or $0.81 per diluted share, down from $5.6 million in Q3 2025.
- Net interest income declined 4.8% quarter over quarter to $16.4 million, driven mainly by an outflow of excess cash tied to a customer disposition of proceeds from the sale of their business.
- Net interest margin improved slightly to 3.61% from 3.58% as earning asset yields and funding mix continued to improve year over year.
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NextEra Energy Q4 2025 Earnings Call - Execution Mode: 30 GW Backlog and Large-Load Pipeline Make Growth Visible
NextEra closed 2025 with stronger-than-expected results and a shift from groundwork to execution. Adjusted EPS was $3.71, up more than 8% year over year, and management reiterated an 8%+ CAGR target t...
- Adjusted EPS of $3.71 for 2025, up over 8% year over year, and 2026 guidance unchanged at $3.92 to $4.02, with management targeting the high end.
- NextEra reiterated an 8% plus compound annual growth rate for adjusted EPS through 2032 and is targeting the same 8% plus CAGR through 2035, all off the 2025 base.
- FPL secured a four-year rate agreement running through the remainder of the decade, with an allowed midpoint regulatory ROE of 10.95% and a range of 9.95% to 11.95%.
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General Motors Q4 2025 Earnings Call - $7.6B EV Charges, Heavy Buybacks, and a Roadmap Back to 8%-10% North America Margins
GM closed 2025 showing two faces of the company, one surgical and cash-rich, the other chastened and rearranging. Management reported strong cash flow and margin discipline, with adjusted EBIT of $12....
- GM booked $7.6 billion of EV-related charges in Q3 and Q4 2025, with $1.2 billion non-cash in Q3 and $1.8 billion non-cash in Q4, and roughly $4.6 billion expected to be paid in cash, most of it in 2026.
- Full-year 2025 adjusted results: $12.7 billion EBIT adjusted, $10.6 billion adjusted automotive free cash flow, and $21.7 billion cash on the balance sheet at year-end.
- Management returned cash aggressively, $23 billion in buybacks since November 2023, $6 billion of repurchases in 2025, $2.5 billion repurchased in Q4, retired ~465 million shares, ending diluted shares at ~930 million, and the board authorized another $6 billion and a 20% dividend increase to $0.18 per quarter.
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First Merchants Corporation Fourth Quarter 2025 Earnings Call - Closing First Savings Deal, Record Assets and Earnings
First Merchants closed 2025 on all cylinders, reporting record assets, loans and deposits while formally closing the $2.4 billion First Savings acquisition on February 1, 2026. The bank showed continu...
- Company will close acquisition of First Savings Group on February 1, 2026, adding approximately $2.4 billion of assets and expanding into Southern Indiana and the Louisville MSA.
- Full year 2025 results were record-setting: total assets $19.0 billion, total loans $13.8 billion, total deposits $15.3 billion, and net income $224.1 million with diluted EPS $3.88, up 13.8% year over year.
- Fourth quarter net income was $56.6 million, or $0.99 per diluted share; annualized ROA was 1.21% and tangible common equity return 14.08%.
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Northwest Bankshares Fourth Quarter 2025 Earnings Call - Acquisition integration drives record revenue and positions bank for 2026 growth
Northwest closed and integrated the Penns Woods deal on time and on budget, and the numbers show the payoff. Full year revenue hit a record $655 million, adjusted EPS rose to $0.33 in Q4, net interest...
- Closed and fully integrated the Penns Woods acquisition on time and on budget, adding 20 financial centers and moving Northwest into the top 100 U.S. banks by assets.
- Full year 2025 revenue reached a record $655 million, driven by acquisition scale and core business performance.
- Q4 GAAP EPS was $0.31, adjusted EPS was $0.33, up from $0.29 the prior quarter on higher revenue, margin improvement, and expense discipline.
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RTX Fourth Quarter 2025 Earnings Call - Record $268B Backlog Sets Up 2026 Ramp
RTX closed 2025 with stronger-than-expected execution: $88.6 billion of adjusted sales, adjusted EPS of $6.29, $7.9 billion of free cash flow, and a record $268 billion backlog. Management is leaning ...
- Record backlog and orders: Full-year book-to-bill was 1.56, leaving a record backlog of $268 billion, up 23% year-over-year, split roughly $161 billion commercial and $107 billion defense.
- Strong 2025 financials: Adjusted sales $88.6 billion, adjusted EPS $6.29 (up 10% YoY), and free cash flow $7.9 billion (up $3.4 billion YoY).
- 2026 guidance: Management targets $92–93 billion of adjusted sales (5%–6% organic growth), adjusted EPS $6.60–6.80, and free cash flow $8.25–8.75 billion.
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