Earnings Call Transcripts
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All Earnings Calls
Lennox International Q3 2025 Earnings Call - Margins Resilient Despite Deep Inventory Destock; Recovery Pushed into 2026
Lennox reported a quarter where profit and margin discipline masked softer demand. Revenue fell 5% as Home Comfort Solutions saw a 12% revenue decline and unit volumes plunged 23%, yet company-level s...
- Revenue declined 5% in Q3 2025, with Home Comfort Solutions (HCS) down 12% and Building Climate Solutions (BCS) up 10%.
- HCS unit sales fell about 23% year over year, driven by dealer and distributor destocking, weak new and existing home sales, and milder weather.
- Segment margin reached a Q3 record of 21.7%, supported by favorable mix, pricing and cost actions; adjusted EPS was a Q3 record $6.98, up 4% year over year.
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KKR Real Estate Finance Trust Inc. Third Quarter 2025 Earnings Call - Timing-Driven Liquidity Build and REO Drag Pressure Distributable Earnings
KKR Real Estate Finance Trust reported a quarter where timing, not strategy, explains a bigger-than-usual liquidity cushion. GAAP net income was $8 million, book value per share fell slightly to $13.7...
- GAAP net income for Q3 2025 was $8 million, or $0.12 per share; book value per share ended at $13.78, down 0.4% quarter over quarter.
- Distributable earnings were a loss of $2 million (negative $0.03 per share); distributable earnings excluding realized losses were $12 million, or $0.18 per share, versus a paid dividend of $0.25 per share.
- Management attributes the elevated liquidity and lower leverage at quarter end to timing, not a strategic defensive pullback, citing a large single repayment and longer European close timelines.
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Northpointe Bancshares, Inc. Q3 2025 Earnings Call - MPP scale-up hits targets, driving asset and fee growth
Northpointe’s Q3 showed what the company has been pitching for months, MPP scale. The Mortgage Purchase Program ballooned to $3.36 billion, delivering record funding activity and pushing average inter...
- GAAP earnings of $20.1 million, or $0.57 diluted EPS, in Q3 2025; ROA 1.34% and return on average tangible common equity 15.41%.
- Mortgage Purchase Program (MPP) period-end balances reached $3.36 billion, up $473.2 million QoQ and $1.7 billion YoY; MPP funded $9.8 billion of loans in Q3, the company’s highest quarterly level ever.
- Management says Northpointe has achieved its full-year 2025 MPP growth target through the first nine months, and still has a robust pipeline for the remainder of 2025 and into 2026.
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Old National Bancorp Third Quarter 2025 Earnings Call - Bremer conversion fuels margin, deposits and profit while credit stays benign
Old National delivered a clean, above-guidance quarter driven by the full-quarter impact of the Bremer partnership and disciplined execution. Adjusted EPS was $0.59 (GAAP $0.46) after $0.13 of merger-...
- Adjusted EPS $0.59 for 3Q25, GAAP EPS $0.46 after $0.13 of net merger-related expenses.
- Return on average tangible common equity about 20%, return on assets above 1.3%, and adjusted efficiency ratio around 48% (sub-50%).
- Bremer systems conversion and rebrand completed over the weekend, now operating as Old National in former Bremer branches.
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Stifel Financial Corp Third Quarter 2025 Earnings Call - Record Revenue and Client Assets, Strong Investment Banking Pipeline
Stifel delivered a quarter that looked like a company mid-cycle finally catching its stride, not an accidental pop. Revenue topped $1.4 billion, EPS hit $1.95 (third highest ever, record for a third q...
- Record quarterly net revenue of about $1.4 billion, roughly 7% above Street consensus and up 17% year over year.
- Earnings per share of $1.95, the third highest in firm history and a record for a third quarter; operating EPS up 30% year over year.
- Return on tangible common equity exceeded 24%, signaling robust profitability on tangible capital.
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BankUnited Inc. Third Quarter 2025 Earnings Call - Margin hits 3% early as credit holds steady
BankUnited delivered a clean, ahead-of-plan quarter. EPS $0.95 beat consensus, margin reached 3% a quarter early, ROA rose to 82 bps and ROE to 9.5%. Management says this improvement was driven largel...
- Margin reached 3.00% in Q3, delivered a quarter earlier than management expected, and expansion was driven primarily by mix and funding improvements rather than rate cuts.
- EPS was $0.95, beating consensus (~$0.88); ROA improved to 82 basis points and ROE rose to 9.5%.
- Net interest income up modestly, average NIDDA rose by $210 million and average interest-bearing liabilities fell by $526 million, lowering funding costs.
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Hilton Worldwide Third Quarter 2025 Earnings Call - Conversion-fueled growth and tech-enabled owner fee relief offset soft RevPAR
Hilton reported a quarter that felt familiar, resilient, and strategic. Q3 system-wide RevPAR was down about 1%, yet the company beat the high end of its EBITDA and EPS targets, driven by non-RevPAR f...
- Q3 system-wide RevPAR declined approximately 1% year over year, with U.S. RevPAR down about 2.3% driven by holiday shifts, government travel declines, renovations, and softer international inbound demand.
- Despite RevPAR softness, adjusted EBITDA was $976 million in Q3, up 8% year over year, and adjusted diluted EPS was $2.11, both meaningfully above guidance.
- Management now expects full-year 2025 RevPAR to be flat to up 1%, and Q4 RevPAR to be approximately +1%, with guidance ranges not incorporating future share repurchases.
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Moody’s Corporation Third Quarter 2025 Earnings Call - Record $2B Quarter, Raised Full-Year Guidance as Margins Expand
Moody’s reported a standout third quarter: record revenue above $2.0 billion, adjusted diluted EPS of $3.92, and operating leverage that pushed margins sharply higher. The company raised full-year gui...
- Record quarterly revenue exceeded $2.0 billion, up 11% year over year, the first time Moody’s topped $2 billion in a quarter.
- Adjusted diluted EPS was $3.92 in Q3, up 22% year over year, with reported EPS more than double the same quarter three years ago.
- Adjusted operating margin for the quarter was about 53% at the MCO level, demonstrating significant operating leverage; company expects full-year adjusted operating margin around 51%.
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Northern Trust Corporation Third Quarter 2025 Earnings Call - One Northern Trust, AI and private-markets lift margins and EPS
Northern Trust reported a steady, disciplined quarter: Q3 net income $458 million, EPS $2.29, and return on average common equity 14.8%. Revenue and operating leverage improved, driven by favorable ma...
- Q3 results: net income $458 million, EPS $2.29, return on average common equity 14.8%.
- Revenue momentum and discipline produced positive organic growth for the fifth consecutive quarter, with revenue up 6% year over year excluding notable items.
- Operating leverage delivered a nearly 200 basis point expansion in pre-tax margin year over year, with expenses up 4.7% YoY and management reiterating full‑year operating expense growth below 5% excluding notables.
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UniFirst Corporation Q4 2025 Earnings Call - Investing Through Pain: ERP and Sales Bets to Drive Growth, Expect 2026 Margin Dip
UniFirst closed fiscal 2025 with modest top-line gains but a clear strategic pivot: management is accelerating investments in an Oracle ERP rollout, sales and service capacity, and telematics, accepti...
- Fiscal 2025 full-year revenues were $2.432 billion, a 2.1% increase versus fiscal 2024 after adjusting for the extra week in 2024.
- Q4 2025 revenue was $614.4 million versus $639.9 million a year ago; excluding the extra week in 2024, Q4 organic revenue growth was about 3.4%.
- Uniform and Facility Service Solutions (primary segment) Q4 revenues were $560.1 million, down 4.4% year-over-year; organic growth for that segment in the quarter was ~2.9%.
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