Earnings Call Transcripts
Access detailed transcripts and key takeaways from company earnings calls
All Earnings Calls
Waste Connections Q3 2025 Earnings Call - Pricing and retention drove margin expansion despite commodity and volume headwinds
Waste Connections outperformed headlines and expectations in Q3, driven by aggressive price retention and materially better employee metrics. Core solid waste pricing ran at 6.3% in the quarter, under...
- Q3 adjusted EBITDA was $830.3 million, up 5.4% year over year, with an adjusted EBITDA margin of 33.8%.
- Core solid waste pricing was 6.3% in Q3, putting the company on pace for full-year core pricing of approximately 6.5%.
- Volumes declined 2.7% year over year, with roughly 70 basis points of that decline attributed to purposeful shedding of low margin contracts and price-volume tradeoffs.
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Taylor Morrison Q3 2025 Earnings Call - Execution Holds Margins While Land Renegotiations and Specs Buy Time
Taylor Morrison reported a quarter that reads like a playbook for navigating a choppy housing market. Results beat guidance across closings, price, and gross margin, driven by active land renegotiatio...
- Company beat guidance on all key metrics for Q3 2025: home closings, volume, average price, and gross margin.
- Reported net income $201 million, $2.01 diluted EPS; adjusted net income $211 million, $2.11 diluted EPS after excluding impairments and certain charges.
- Delivered 3,324 homes in Q3 with average closing price of $602,000, producing $2.0 billion of home closing revenue.
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PROG Holdings Q3 2025 Earnings Call - Sells VIVE Receivables to Reallocate Capital into Faster-Growing Four and Core Leasing
PROG delivered a clean beat in Q3, with revenue of $595.1 million, adjusted EBITDA of $67 million, and non-GAAP EPS of $0.90, driven by robust portfolio performance and runaway growth at Four Technolo...
- Q3 results beat: revenue $595.1 million, adjusted EBITDA $67 million, non-GAAP EPS $0.90, topping the high end of guidance for the third straight beat.
- Company sold the VIVE Financial credit-card receivables portfolio to Atlanticus for approximately $150 million, transaction to be reported as discontinued operations and removed from 2025 outlook.
- PROG removed VIVE from its Q4 and full-year 2025 outlook, and revised 2025 guidance to consolidated revenues of $2.41 to $2.435 billion, adjusted EBITDA $258 to $265 million, and non-GAAP EPS $3.35 to $3.45.
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Weatherford International Third Quarter 2025 Earnings Call - $99M Adjusted FCF, Mexico Payments Control Q4 Upside
Weatherford beat its July outlook, generating $99 million of adjusted free cash flow in Q3 and expanding adjusted EBITDA margins roughly 70 basis points despite a soft market and material payment dela...
- Generated $99,000,000 of adjusted free cash flow in Q3, with adjusted free cash flow conversion of 36.8%, despite not including recent Mexico payments.
- Mexico remains the single largest near term risk and upside, management received a first payment since early 2025 and expects more, but warned some 2024 receivables could be deferred into 2026.
- Net working capital efficiency deteriorated to 29.6% of revenues in Q3, management target is 25% or better and they believe they are within that target when normalizing for Mexico.
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Thermo Fisher Scientific Q3 2025 Earnings Call - Raises 2025 Guidance After Strong Operational Execution, AI Tie-Up, and M&A
Thermo Fisher reported a clean, punchy quarter: revenue $11.12 billion, adjusted EPS $5.79 (up 10%), adjusted operating margin expanded 100 basis points to 23.3%, and management raised full-year guida...
- Thermo Fisher delivered Q3 revenue of $11.12 billion, up 5% year-over-year, with adjusted EPS of $5.79, a 10% increase versus prior year.
- Management raised 2025 guidance: revenue to $44.1–$44.5 billion, adjusted EPS to $22.60–$22.86, and adjusted operating margin to 22.7%–22.8%.
- Organic revenue in Q3 was 3%, with reported growth composed of 3% organic, 1% acquisition contribution, and 1% FX tailwind versus prior year.
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Chubb Limited Q3 2025 Earnings Call - Record EPS Fueled by Best-in-Class Underwriting and Investment Engine
Chubb reported a blowout Q3, driven by a rare convergence of underwriting strength and rising investment income. Core operating income hit $3.0 billion, EPS was $7.49, up 31% year over year, and publi...
- Record quarter: core operating income $3.0 billion, EPS $7.49, up 31% year over year, supported by underwriting and investment strength.
- Published underwriting income $2.3 billion, up 55% YoY; reported combined ratio 81.8%, roughly 6 points better than prior year.
- Current accident year underwriting income excluding catastrophes was a record $2.2 billion, up 10%, with a current accident year combined ratio of 82.5% (nearly a full point improvement).
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AT&T Q3 2025 Earnings Call - Broadband surge and convergence are carrying the quarter
AT&T reported a steady quarter with a clear theme, broadband-led growth. Consolidated revenue rose modestly, adjusted EBITDA expanded, and free cash flow remained strong, but the headlines belong to f...
- Consolidated results were steady: total revenue +1.6% year over year, adjusted EBITDA +2.4%, adjusted EPS $0.54, and free cash flow $4.9 billion in Q3 2025.
- Broadband is the story: AT&T logged its highest total broadband net adds in over eight years, adding more than 550,000 advanced broadband subscribers (fiber and Internet Air combined).
- Fiber scale accelerating: AT&T passed over 31 million locations with fiber and reported 288,000 AT&T Fiber net adds in Q3, surpassing 10 million premium AT&T Fiber subscribers.
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Bridgewater Bancshares Q3 2025 Earnings Call - Path to 3% NIM by Early 2027 Backed by Loan Growth and Core Deposit Gains
Bridgewater delivered steady top-line traction in Q3, driven by accelerated loan production and a notable pickup in core deposits. Net interest income rose as earning assets grew 16% annualized and ne...
- Net interest income increased by $1.6 million in Q3, driven by 16% annualized growth in average earning assets and a 1 bp expansion in NIM to 2.63%.
- Management reiterated a path to a 3.0% net interest margin by early 2027, assuming Fed rate cuts and continued loan repricing, targeting roughly 2 to 3 bps of margin improvement per month in 2026.
- Core deposits grew 11.5% annualized in the quarter, a key defensive win that reduced reliance on brokered funding and increased liquidity for loan deployment.
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Norwood Financial Corp Q3 2025 Earnings Call - Bond Repositioning and Deposit Dynamics Fuel Margin Expansion, Presence Bank Deal Pending
Norwood reported a clean quarter driven by the bond portfolio repositioning completed in December 2024, which helped lift yields and net interest income. Net interest margin rose 20 basis points seque...
- Net interest margin rose 20 basis points sequentially to 3.63% in Q3 2025.
- Net interest income increased by $1.4 million versus Q2, driven by higher asset yields and lower liability costs.
- Bond portfolio repositioning completed in December 2024 is credited with much of the yield improvement this year.
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United Community Banks Q3 2025 Earnings Call - Margin tick, balanced loan growth, and capital cleanup after preferred redemption
United reported a tidy quarter: operating EPS $0.75, revenue up roughly $16 million sequentially, margin rose 8 basis points to 3.58%, and loan growth accelerated to a 5.4% annualized pace. Management...
- Operating EPS of $0.75, up 32% year over year, with ROA of 1.33% and ROTCE of 13.6% for Q3 2025.
- Revenue rose about $16 million sequentially, driven by an 8 basis point improvement in net interest margin to 3.58% and 5.4% annualized loan growth.
- Net interest margin improved 8 basis points in the quarter, but management expects Q4 NIM to be flat to down 2 basis points given modest asset sensitivity.
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