Earnings Call Transcripts
Access detailed transcripts and key takeaways from company earnings calls
All Earnings Calls
Materion Fourth Quarter 2025 Earnings Call - Quality Pause Hits Q4 but Semiconductor and Optics Momentum Powers 2026 Upside
Materion closed 2025 with a messy but fixable finale. A control failure in Precision Clad Strip forced a temporary shutdown of two facilities, subtracting from Q4 sales and cash flow. Excluding that e...
- Precision Clad Strip quality event halted production at two facilities in Q4 after a control failure produced non-conforming material discovered by the customer, temporarily stopping shipments and receipts.
- Management implemented root-cause fixes and a revised, more robust plant-wide quality system, customer visits occurred, and both facilities were brought back online late in the quarter and are ramping into Q1.
- Excluding the clad strip event, Q4 organic Value-Added Sales grew 7% year-over-year; overall Q4 Value-Added Sales were $253.9 million (excluding pass-through precious metals).
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Rollins, Inc. Fourth Quarter 2025 Earnings Call - Recurring Growth Holds at 7%+, One-Time Sales Hit by Weather; 2026 Organic Guide 7%-8%
Rollins closed 2025 at $3.8 billion in revenue with double-digit revenue, earnings, and cash flow growth for the year, even as Q4 softened. Management pins the weakness to early winter weather in the ...
- Rollins reached $3.8 billion in revenue for fiscal 2025 and delivered double-digit revenue, earnings, and cash flow growth for the year.
- Organic growth for 2025 was 6.9% for the full year; management anchors 2026 organic guidance at 7%-8% plus 2%-3% from M&A.
- Recurring revenue and ancillary services, which represent over 80% of revenue, grew above 7% in Q4 and for the year, and are the primary metric management uses to judge health.
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Alnylam Pharmaceuticals Q4 and Full Year 2025 Earnings Call - AMVUTTRA Launch Drives Nearly $3B Revenue and GAAP Profitability
Alnylam closed 2025 as a different company than it entered. The AMVUTTRA ATTR cardiomyopathy launch powered an 81% year-over-year jump in combined net product revenues to nearly $3.0 billion, and the ...
- AMVUTTRA ATTR cardiomyopathy launch propelled 2025: combined net product revenues nearly $3.0 billion, up 81% versus 2024, with Q4 product sales of $995 million.
- Alnylam achieved GAAP and non-GAAP profitability in Q4 and for full-year 2025, a stated milestone after executing on the Alnylam Fit by 2025 goals.
- TTR franchise drove the year: full-year TTR sales more than doubled, Q4 TTR revenue was $858 million, and TTR is expected to remain the primary growth engine in 2026.
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Zoetis Q4 2025 and Full Year 2025 Earnings Call - 2026 guidance tempered as U.S. weakness and competition offset portfolio strength
Zoetis closed 2025 with resilient top-line and margin performance, but the path forward is bumpier than the headline numbers suggest. Full-year organic operational revenue rose 6% to $9.5 billion, adj...
- Full-year 2025 organic operational revenue rose 6%, with reported revenue of $9.5 billion and adjusted net income of $2.8 billion, up 7% on an organic operational basis.
- Management guided 2026 to 3%-5% organic operational revenue growth, and 3%-6% organic operational adjusted net income growth; reported revenue guidance is $9.825 billion to $10.025 billion.
- Price accounted for most of 2025 growth, with 4 percentage points from price and 2 points from volume; management expects normal price increases of roughly 2%-3% in 2026.
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Kimco Realty Fourth Quarter 2025 Earnings Call - Aggressive capital recycling to close public-private valuation gap by selling assets at mid-single digit caps
Kimco closed 2025 with strong operating momentum and a fortified balance sheet, and management is using that strength to press an active capital recycling strategy in 2026. The company delivered 6.7% ...
- Kimco grew NAREIT FFO per share 6.7% in 2025, one of the few shopping-center REITs with >5% in 2024 and >6% in 2025.
- Management is explicitly pursuing aggressive capital recycling in 2026, targeting $300 million to $500 million of dispositions, primarily flat ground leases, lower-growth multi-tenant centers, and non-income land.
- They expect to sell assets at blended private market cap rates of roughly 5% to 6%, versus an implied public-market cap rate in the low- to mid-7% range, creating what management calls a clear value spread to capture.
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Tripadvisor Fourth Quarter 2025 Earnings Call - Experiences-First Shift, TheFork Strategic Review
Tripadvisor closed 2025 having reshaped itself around experiences, with marketplaces now the dominant revenue engine and experiences positioned to be the company’s primary value driver in 2026. Manage...
- Tripadvisor reported record 2025 revenue of $1.9 billion and consolidated Adjusted EBITDA of $319 million, or 17% of revenue.
- Company-wide strategic pivot: marketplaces (experiences + TheFork) made up 61% of 2025 revenue and 35% of Adjusted EBITDA; management expects marketplaces to be ~66% of revenue and ~50% of Adjusted EBITDA by end-2026.
- Experiences is now the primary growth engine, expected to contribute over 50% of group revenue and roughly 40% of Adjusted EBITDA in 2026, per management guidance.
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Crocs, Inc. Q4 2025 Earnings Call - International Double-Digit Growth and Cost Cuts to Offset North America Reset
Crocs closed 2025 with more than $4 billion in revenue, driven by an eighth consecutive year of growth in the Crocs brand, a powerful direct-to-consumer engine, and strong international performance. M...
- Full year 2025 revenue exceeded $4.0 billion, with Crocs brand at approximately $3.3 billion and HeyDude at $715 million.
- Crocs brand grew for the eighth consecutive year, supported by DTC which is now over half of enterprise revenue and grew faster than wholesale.
- International Crocs revenue grew double digits in 2025, led by China up 30%, and international now represents almost half of Crocs brand sales.
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Bruker Corporation Q4 2025 Earnings Call - Beat Q4 guide, $207M free cash flow, guiding modest 1%-2% organic growth and aggressive margin gains in 2026
Bruker closed a bruising 2025 on a constructive note: Q4 revenue topped guidance, free cash flow surged to roughly $207 million, and book-to-bill in its scientific instruments business stayed above 1....
- Q4 2025 reported revenue $977.2 million, roughly flat year-over-year, with a 4.1% currency tailwind, 0.8% from M&A, and organic revenue down 5.1%.
- Q4 free cash flow was strong at approximately $207 million, with operating cash flow around $230 million, the highest quarterly operating cash flow in company history.
- Q4 non-GAAP operating margin was 15.7%, down 240 basis points year-over-year; non-GAAP diluted EPS was $0.59 versus $0.76 in Q4 2024.
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Baxter International Fourth Quarter 2025 Earnings Call - Turnaround launched, but Novum pump uncertainty and mix headwinds leave FY26 flat
Baxter reported a mixed fourth quarter: $3.0 billion in continuing-operations sales, up 8% reported and 3% operational, but adjusted EPS lagged at $0.44 amid margin pressure and one-time items. Manage...
- Q4 2025 continuing-operations sales were $3.0 billion, up 8% reported and 3% on an operational basis.
- Q4 adjusted earnings from continuing operations were $0.44 per diluted share, below prior expectations.
- Management says the quarter was hit by unfavorable mix, non-recurring inventory adjustments and a higher tax rate, which together pressured margins.
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Optimum Q4 and Full Year 2025 Earnings Call - First YoY Adjusted EBITDA Growth in 16 Quarters, Margin Expansion Through Cost Discipline
Optimum closed 2025 with a clear, defensive reset: revenue dipped, subscribers remained under pressure, but the company delivered its first year-over-year adjusted EBITDA growth in 16 quarters and a s...
- Q4 total revenue ~ $2.2 billion, down 2.3% year-over-year; full year 2025 revenue ~ $8.6 billion.
- Q4 adjusted EBITDA of $902 million, up 7.7% year-over-year, marking the first YoY EBITDA growth in 16 quarters; adjusted EBITDA margin expanded to 41.3% (up 380 bps).
- Gross margin improved to ~69.5% in Q4, up about 180 basis points year-over-year, reflecting mix shift to higher-margin products and programming discipline.
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