Earnings Call Transcripts
Access detailed transcripts and key takeaways from company earnings calls
All Earnings Calls
Cboe Global Markets Q4 2025 Earnings Call - SPX zero-DTE and derivatives drove record revenue and EPS
Cboe closed 2025 on a high note, reporting record fourth-quarter net revenue of $671 million, up 28% year-over-year, and adjusted diluted EPS of $3.06, up 46% from a year earlier. The quarter and year...
- Headline Q4 results: net revenue $671 million, up 28% year-over-year; adjusted diluted EPS $3.06, up 46% year-over-year.
- Full-year 2025: record net revenue $2.4 billion (up 17%) and adjusted diluted EPS $10.67 (up 24%).
- Derivatives led the charge: Derivatives Markets net revenue rose 38% in Q4 and 22% for full year, driven by SPX and multi-list options momentum.
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STRATTEC Security Corporation Q2 FY2026 Earnings Call - Transformation Expands Margins and Quadruples Profit
STRATTEC delivered a tidy Q2 despite a softer auto backdrop, with sales of $137.5 million, a 6% lift year over year, and gross margin expanding to 16.5%, up 330 basis points. Net income nearly quadrup...
- Sales: $137.5 million in Q2, up 6% year over year, driven by pricing, favorable mix, higher content value, new program launches, and tariff recovery.
- Gross margin expanded to 16.5%, a 330 basis point improvement versus prior year, helped by pricing, higher volumes and restructuring savings.
- Net income attributable to STRATTEC was $4.9 million, or $1.20 per diluted share, versus $1.3 million in the prior-year quarter.
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Newell Brands Q4 2025 Earnings Call - Turnaround Intact After Tariff Shock; Innovation, Productivity and Tariff-Advantaged Wins Fuel 2026 Recovery
Newell Brands says the multi-year turnaround survived a brutal 2025 tariff shock, exiting the year with margins intact, a rebuilt innovation pipeline, and distribution momentum that should kick in dur...
- Q4 net sales were $1.9 billion, down 2.7% year-over-year; Q4 core sales declined 4.1%, with FX providing a partial offset.
- Full-year 2025 net sales were $7.2 billion, down 5.0%; full-year core sales fell 4.6%.
- Tariff shock was the dominant 2025 headwind: $174 million total gross cash tariff impact and roughly $114 million of incremental P&L pressure in 2025.
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AerCap Q4 2025 Earnings Call - Record 2025, heavy gains and recoveries, but 2026 guided lower without gains
AerCap closed 2025 as a banner year, reporting record GAAP net income of $3.8 billion and adjusted net income of $2.7 billion on all-time revenue of $8.5 billion. The year was powered by outsized gain...
- 2025 was a record year: GAAP net income $3.8 billion ($21.30 per share) and adjusted net income $2.7 billion ($15.37 per share).
- Full-year revenue hit $8.5 billion and full-year sales volumes reached a record $3.9 billion; cash CapEx was $6.1 billion and operating cash flow $5.4 billion.
- Large insurance and other recoveries tied to the Ukraine conflict totaled ~$1.5 billion in 2025, bringing cumulative pre-tax recoveries since 2023 to about $3 billion, which exceeds the 2022 net charge of $2.7 billion.
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Perella Weinberg Fourth Quarter 2025 Earnings Call - Record Europe and Restructuring Offset Missing Mega M&A, Pipeline Builds
Perella Weinberg closed 2025 as its third highest revenue year at $751 million, even as overall revenues fell 14% from 2024 amid a dearth of mega M&A wins. Management highlighted record performance in...
- Full-year 2025 revenues were $751 million, down 14% from 2024, but still the firm’s third highest revenue year in 20 years.
- Fourth quarter revenues were $219 million, which included $18.5 million from closings in the first few days of 2026 recorded in Q4 per accounting rules.
- Management blamed part of the revenue shortfall on several large transactions that did not complete; the firm advised on zero >$10 billion deals in 2025 versus four in its record year, but is already in one ~ $15 billion deal in 2026.
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RXO Q4 2025 Earnings Call - Capacity exits squeeze brokerage margins, but pipeline and AI set up for sharp inflection when demand returns
RXO reported a weak Q4 as a sudden supply shock pinched brokerage margins even while revenue mix shifted toward faster-growing LTL and managed transportation wins. Q4 revenue was $1.5 billion, gross m...
- Q4 results: total revenue $1.5 billion, gross margin 14.8%, adjusted EBITDA $17 million, adjusted EBITDA margin 1.2% (management cited a near-term brokerage margin squeeze).
- Brokerage revenue was $1.1 billion, down 14% year-over-year; brokerage gross margin fell to 11.9%, down 160 basis points sequentially and 130 basis points year-over-year.
- Purchased transportation costs spiked late in the quarter, with industry buy rates up about 15% month-over-month in December, causing truckload gross profit per load to fall sharply (truckload GP per load dropped roughly 10% from November to December and was about 30% below RXO’s five-year average in December).
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Roivant Q3 2025 Earnings Call - Brepocitinib posts striking Phase 2 cutaneous sarcoidosis results, 45 mg arm 100% responders on key measures
Roivant used its Q3 2025 call to tee up a busy 2026 and to parade a clutch of clinical wins, led by dramatic Phase 2 data for brepocitinib in cutaneous sarcoidosis. The 31-patient, randomized 16-week ...
- Brepocitinib Phase 2 in cutaneous sarcoidosis (CS) delivered a placebo-adjusted CSAMI improvement of about 21.6 points, a far larger effect than the 5-point minimum clinically important difference management cited.
- Study design was 31 US patients randomized 3:2:2 to brepocitinib 45 mg, 15 mg, and placebo, across 15 sites, with a 16-week primary evaluation period.
- Every patient (100%) on brepocitinib 45 mg achieved at least a 10-point CSAMI improvement, and 62% reached an absolute CSAMI score of 5 or less, versus zero placebo patients on those stringent endpoints.
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Brasil Agro Q2 2025-26 Earnings Call - Sugarcane slump dents H1 results despite hedges and telemetrics push
Brasil Agro closed the first half with a clear operational hangover. Management reported R$470 million in revenue, adjusted EBITDA of R$71.3 million, and a net loss of about R$61.8 million, with sugar...
- H1 financial snapshot: management reported R$470 million of revenue, adjusted EBITDA of R$71.3 million, and a net loss of about R$61.7–61.8 million, driven largely by operational hits in sugarcane.
- Sugarcane was the main P&L drag: production fell to ~970,000 tons from ~1.3 million tons the prior period, ATR fell from ~140 kg/ton to ~131–132 kg/ton, and sugarcane swing was reported as roughly a R$54.6 million negative impact.
- Inventory and commercial timing hit the income statement. The company intentionally carried stocks to chase premiums; that choice depresses H1 results because harvested product and receivables flow through the P&L before premiums are realized.
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Ispire Technology Q2 Fiscal 2026 Earnings Call - Age-gating JV Gains Traction as Revenue Falls After Customer Rationalization
Ispire presented Q2 2026 as an inflection quarter, arguing that a deliberate purge of low-quality customers and tight cost control has improved collections and trimmed losses even as revenue halved. M...
- Total revenue plunged to $20.3 million in Q2 FY2026, down from $41.8 million in Q2 FY2025, a roughly 51% decline tied to deliberate customer rationalization.
- Management intentionally exited lower-value cannabis and slow-paying customers to prioritize higher-quality nicotine clients, which drove the revenue contraction but improved collections.
- Net accounts receivable improved to $37.9 million as of December 31, 2025, down from $47.0 million at June 30, 2025, with average payment terms shortened and day sales outstanding improving by 8 days year over year.
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Stellantis H2 2025 Earnings Call - Decisive reset, EUR 22bn charges to right-size EV and product plan
Stellantis used its H2 2025 results call to hit the reset button. Management announced a sweeping rework of product, EV supply chain and organization, and upfronted EUR 22 billion of charges excluded ...
- Management announced a comprehensive strategic reset, centralizing customer demand as the primary driver of product and regional decisions and empowering regional teams to speed execution.
- Stellantis booked EUR 22 billion of charges excluded from AOI: EUR 14.7 billion tied to product plans, EUR 2.1 billion to EV supply-chain resizing, and EUR 5.4 billion to other items including warranty and restructuring.
- Of the product-plan bucket, EUR 2.9 billion were write-offs of cancelled products and about EUR 6.0 billion were platform impairments, reflecting sharply lowered BEV volume and profitability assumptions.
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