Earnings Call Transcripts
Access detailed transcripts and key takeaways from company earnings calls
All Earnings Calls
Aeries Technology Q3 FY2026 Earnings Call - Adjusted EBITDA Turnaround, FY2027 Guide $80M-$84M Backed by AI and GCC Ramps
Aeries delivered a clear financial inflection in Q3 FY2026: revenue held steady at $17.5 million, while Adjusted EBITDA swung to a $2.5 million profit and operating cash flow was positive for the thir...
- Revenue was stable at $17.5 million in Q3 FY2026, essentially flat versus $17.6 million a year earlier.
- Adjusted EBITDA turned positive at $2.5 million, a meaningful swing from an adjusted EBITDA loss of $2.0 million in Q3 FY2025.
- Adjusted EBITDA margin expanded to approximately 14.1%, gross margin improved to 19.1%.
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Phillips Edison & Company Fourth Quarter 2025 Earnings Call - Strong 2025 FFO Upside and a $400M+ Acquisition Push Backed by Record Occupancy
Phillips Edison reported a solid 2025 with Nareit FFO per share up 7.2%, core FFO per share up 7.0%, and same-center NOI +3.8%. Management is keeping a conservative, execution-focused posture heading ...
- 2025 results: Nareit FFO per share +7.2%, core FFO per share +7.0%, same-center NOI +3.8%.
- 2026 guidance: Nareit FFO per share growth at mid-single-digits (5.5% at midpoint), core FFO per share +5.4% at midpoint, net income guidance $0.74 to $0.77, same-center NOI guidance 3% to 4%.
- Acquisitions: management confident in delivering $400M to $500M of gross acquisitions in 2026 at PECO share, having acquired roughly $400M in 2025.
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COPT Defense Properties Q4 2025 Earnings Call - Strong Leasing, Development Pipeline Tied to Record Defense Budget
COPT Defense closed 2025 with better-than-expected operating results, driven by aggressive leasing and a heavily pre-leased development pipeline that is explicitly linked to surging defense spending. ...
- FFO per share for 2025 was $2.72, 6 cents above initial guidance and up 5.8% versus 2024, marking the seventh consecutive year of FFO/share growth.
- Same-property cash NOI increased 4.1% in 2025, outpacing the midpoint of original guidance, helped by a 40 basis point increase in average occupancy and operating expense savings.
- Portfolio occupancy finished 2025 at ~94% overall and 95.5% in the defense IT portfolio, with leased percentages of 95.3% (total) and 96.5% (defense IT).
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Camden Property Trust Fourth Quarter 2025 Earnings Call - Pivoting California Assets to Redeploy $1.1B into Sun Belt and Accelerate Buybacks
Camden closed 2025 with a beat and a clear strategic pivot. Q4 core FFO was $193.1 million, or $1.73 per share, modestly ahead of guidance, while management is marketing 11 California operating commun...
- Q4 core FFO came in at $193.1 million, or $1.73 per share, roughly $0.03 ahead of the midpoint of prior quarterly guidance.
- Full-year 2026 Core FFO guidance is $6.60-$6.90 per share, midpoint $6.75, implying a $0.13 per share decrease from 2025 results; the midpoint assumes same-store NOI down ~50 basis points.
- Camden is marketing 11 California operating communities, with preliminary market chatter valuing the portfolio at $1.5 billion to $2.0 billion, and is assuming a mid-year close.
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Magnolia Oil & Gas Q4 2025 Earnings Call - Record well productivity fuels free cash flow, buybacks, and a flat-capex, growth-light 2026 plan
Magnolia closed 2025 with record production and surprisingly strong well results, translating into more than $425 million of free cash flow and aggressive shareholder returns. Management is sticking t...
- Record production in Q4 2025: ~103,800 BOE/d and ~40,700 barrels of oil per day, sequentially up about 3%.
- Full year 2025 production grew 11% to ~100,000 BOE/d, oil up 4% year over year.
- Free cash flow generation exceeded $425 million in 2025, driven by a low reinvestment rate and higher well productivity.
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Regency Centers Q4 2025 Earnings Call - Development-Fueled NOI Growth and Peak Leasing Momentum
Regency closed 2025 with robust operating results and an active investments engine. Same-property NOI outpaced expectations (roughly 5%+), FFO and core operating earnings per share rose high-single di...
- Regency delivered strong 2025 operating results: same-property NOI growth of about 5.3%, NAREIT FFO per share up near 8%, and Core Operating Earnings per share up nearly 7% for the year.
- Shop performance hit new records: year-end shop occupancy reached 94.2%, Q4 shop occupancy rose ~40 bps, and the team leased the largest percentage of vacant shop GLA in over five years.
- Commenced occupancy improved materially, with the portfolio average percent commencement rate up ~150 bps year-over-year, a key driver of last year’s outsized NOI performance.
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Graham Corporation Q3 FY2026 Earnings Call - Record $515.6M Backlog, M&A and CapEx Power a Raise in Guidance
Graham reported a strong Q3 FY2026, with revenue up 21% to $56.7 million and adjusted EBITDA rising 50% to $6.0 million as operating leverage from recent investments began to show. The headline is a r...
- Revenue grew 21% year over year to $56.7 million in Q3 FY2026, driven by defense program milestones, new programs, and aftermarket strength.
- Adjusted EBITDA increased 50% to $6.0 million, with adjusted EBITDA margin at 10.7%, reflecting operating leverage and productivity gains.
- Backlog hit a record $515.6 million, up 34% year over year, with management expecting roughly 35% to 40% to convert to revenue in the next 12 months.
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Ventas Fourth Quarter 2025 Earnings Call - SHOP becomes the growth engine as senior housing NOI accelerates and management targets $2.5B of 2026 senior housing investments
Ventas closed 2025 with accelerating senior housing performance, a stronger balance sheet, and an aggressive 2026 playbook focused squarely on SHOP. Q4 and full-year results were powered by SHOP same-...
- Ventas delivered strong 2025 results, with normalized FFO per share up 9% for the year to $3.48, and Q4 normalized FFO per share up about 10% year-over-year.
- SHOP (senior housing) was the growth engine, with SHOP same-store cash NOI up 15.4% in Q4 and SHOP NOI reaching $1.3 billion annualized at year end; SHOP now generates 53% of Ventas NOI.
- Management expects 2026 normalized FFO per share of $3.78 to $3.88, midpoint $3.83, about 8% year-over-year growth, led by SHOP NOI and accretive acquisitions.
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Encompass Health Q4 2025 Earnings Call - Strong growth and margin gains while navigating RCD and TEAM regulatory headwinds
Encompass closed 2025 with top-line and margin momentum, growing full-year revenue 10.5% and EBITDA 14.9% while converting cash flow into heavy reinvestment and shareholder returns. The company lowere...
- Full-year 2025 revenue rose 10.5%, driven by 6% discharge growth and pricing/mix; full-year adjusted EBITDA grew 14.9%.
- Q4 2025 revenue was $1.5 billion, up 9.9% year over year; Q4 adjusted EBITDA was $335.6 million, up 15.9%.
- Encompass added 517 beds in 2025, including 390 beds via eight new hospitals and 127 bed additions to existing hospitals, and four of the eight de novos posted positive four-wall adjusted EBITDA in Q4.
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CNO Financial Group Q4 2025 Earnings Call - Record sales, rising margins and a clear path to 12% ROE by 2027
CNO posted one of its strongest operating years to date: record production, sustained sales momentum across divisions, and improving profitability that lifted operating ROE to 11.4% excluding signific...
- CNO delivered strong full-year results with operating return on equity, excluding significant items, of 11.4%, up from roughly a 10% run rate in 2024 and moving toward a 12% ROE target by 2027.
- Operating earnings per diluted share was reported at $4.40; operating EPS excluding significant items was $4.02 for the full year, exceeding the high end of prior guidance.
- Total new annualized premium (NAP) grew 15% for the year, a record, with 14 consecutive quarters of NAP growth across the company.
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