Earnings Call Transcripts
Access detailed transcripts and key takeaways from company earnings calls
All Earnings Calls
Gladstone Investment Q3 FY2026 Earnings Call - NAV Jump from Equity-Led Gains, NII Softens
Gladstone Investment reported a quarter where the headline moved to NAV, not cash income. NAV climbed to $14.95 from $13.53, driven by $70.2 million of net unrealized appreciation largely tied to EBIT...
- Adjusted net investment income (adjusted NII) was $0.21 per share for Q3 FY2026, down from $0.24 the prior quarter, totaling $8.2 million on an adjusted basis.
- On a GAAP basis the company reported a net investment loss of $6.5 million versus net investment income of $4.3 million in the prior quarter, driven primarily by a $9.9 million accrual of capital gains-based incentive fees.
- Net asset value rose to $14.95 per share from $13.53, driven by $70.2 million of net unrealized appreciation and $0.09 per share of net realized gains.
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Silicon Motion Technology Corporation Q4 2025 Earnings Call - Betting on Record 2026 Despite NAND/DRAM Shortages via NAND Ties and Product Ramps
Silicon Motion closed Q4 2025 with stronger than expected sales and margins, and management is forecasting a record 2026 driven by product ramps and deep ties with NAND makers. Q4 sales were $278.5 mi...
- Q4 2025 revenue $278.5 million, up 15% sequentially and over 45% year-on-year, beating guidance and surpassing the $1 billion run rate target set earlier.
- Q4 non-GAAP gross margin 49.2% and non-GAAP operating margin 19.3%; EPS per ADS was $1.26.
- Management expects 2026 to be a record revenue year and projects sequential quarter-on-quarter growth throughout 2026; Q1 is expected to be the lowest quarter of 2026 per the CEO, but CFO guides Q1 revenue up 5%–10% to $292M–$306M versus Q4 2025.
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Reynolds Consumer Products Q4 2025 Earnings Call - Share Gains and Margin Resilience, 2026 EBITDA Guided Roughly Flat
Reynolds closed 2025 with retail share gains across most core categories while navigating meaningful commodity and tariff pressure. Q4 showed sequential improvement, broad-based share performance in H...
- Q4 2025 net revenues were $1.03 billion, up 1% versus Q4 2024; full-year 2025 net revenues were $3.7 billion, also up 1% year over year.
- Q4 Adjusted EBITDA was $220 million, a 3% increase versus the year-ago quarter, and it was the only quarter of EBITDA growth in 2025; full-year Adjusted EBITDA was $667 million versus $678 million in 2024.
- Adjusted EPS was $0.59 in Q4 2025 versus $0.58 a year ago; full-year adjusted EPS was $1.64 versus $1.67 in 2024, noting a 2024 one-time tax benefit being lapped.
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Evercore Fourth Quarter and Full Year 2025 Earnings Call - Record Revenues and Diversified Momentum Heading into 2026
Evercore closed 2025 with its strongest financial performance ever, posting adjusted net revenue of about $3.9 billion for the year, up 29% versus 2024, and a record fourth quarter near $1.3 billion. ...
- Record revenue year: Adjusted net revenue of approximately $3.9 billion for 2025, up 29% versus prior year and 17% above the prior record in 2021.
- Best quarter ever: Q4 2025 adjusted net revenue nearly $1.3 billion, the strongest revenue quarter in firm history.
- Big margin and profit improvement: Full-year adjusted operating income of $839 million, up 50%, and adjusted EPS of $14.56, up 55% year over year.
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Boston Scientific Q4 2025 Earnings Call - Confident 2026 guide: 10%-11% organic growth powered by EP PFA and Watchman
Boston Scientific closed 2025 with broad-based momentum, beating guidance and pushing a 2026 plan that leans heavily on EP pulsed field ablation and Watchman adoption. Q4 revenue of $5.286 billion (re...
- Q4 2025 revenue was $5.286 billion, reported growth +15.9% versus Q4 2024; operational growth excluding a $74 million FX tailwind was 14.3% for the quarter.
- Full-year 2025 revenue was $20.074 billion, reported growth +19.9%; organic revenue growth for the year was 15.8%, above prior guidance.
- Q4 adjusted EPS was $0.80 (up 15% year over year); full-year adjusted EPS was $3.06 (up 22%), marking the third straight year of 20%+ adjusted EPS growth.
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Uber Q4 and Full Year 2025 Earnings Call - AVs as growth lever, huge free cash flow, and aggressive buybacks
Uber closed 2025 with accelerating demand and hefty cash generation. Trips reached a 15 billion annual run rate, monthly actives topped 200 million, and gross bookings grew 22% year over year. Managem...
- Trips accelerated to a 15 billion annual run rate, signaling sustained demand growth across the platform.
- Monthly active users topped 200 million, and annual active base exceeds 450 million, with MAPC growth stepping up from ~14% to ~18% year over year in 2025.
- Gross bookings rose 22% year over year for Q4/2025, and Uber delivered its fifth consecutive year of annual gross bookings over 20%.
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Aurora Cannabis Q3 2026 Earnings Call - Pivot to Global Medical Cannabis; Exiting Select Canadian Consumer Markets and Divesting Bevo
Aurora reported a solid fiscal Q3 2026 led by its global medical cannabis business, which drove revenue growth, high margins, and positive free cash flow. Management doubled down on that strategy, ann...
- Aurora is pivoting decisively to global medical cannabis, reallocating products and resources away from select lower-margin Canadian consumer cannabis markets.
- Net revenue for fiscal Q3 2026 was CAD 94.2 million, up 7% year over year; global medical cannabis revenue was CAD 76.2 million, up 12% and 81% of total revenue.
- Adjusted gross margin improved 100 basis points to 62% overall, with global medical cannabis delivering a 69% adjusted gross margin and accounting for roughly 95% of adjusted gross profit.
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T. Rowe Price Q4 2025 Earnings Call - Market Gains Mask $56.9B Net Outflows and a Lower-Fee Mix
T. Rowe Price closed 2025 with $1.78 trillion in AUM, helped more by a third straight year of strong market returns than by net new money. The company reported $56.9 billion of net outflows for the ye...
- AUM rose to $1.78 trillion at year-end 2025, up more than 10% from the start of the year, driven largely by market appreciation rather than net inflows.
- T. Rowe Price reported $56.9 billion of net outflows for full-year 2025, with $25.5 billion of those outflows occurring in Q4.
- Outflows were concentrated in equity strategies, with $75 billion of equity net outflows in 2025, and almost $64 billion leaving mutual funds on a vehicle basis.
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Enact Q4 2025 Earnings Call - Board Authorizes Largest Buyback as Credit Improves and $500M Capital Return Target Set for 2026
Enact closed 2025 with a strong quarter, reporting adjusted operating income of $179 million in Q4 and $688 million for the year, while raising book value per share 11% to $37.87. Management highlight...
- Board approved new $500 million share repurchase program, largest in company history, and management expects ~ $500 million of capital returns for 2026.
- Q4 adjusted operating income was $179 million, or $1.23 per diluted share; full-year adjusted operating income was $688 million, or $4.61 per diluted share.
- Net reserve release of $60 million in Q4, driven by strong cure performance, loss mitigation, and reducing the assumed claim rate from 9% to 8%.
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Novo Nordisk Q4 2025 Earnings Call - Wegovy pill surges, but 2026 guidance warns price-driven sales decline
Novo reported solid 2025 results, with sales up 10% and operating profit up 6% at constant exchange rates, driven by runaway growth in obesity care and a steady GLP-1 franchise. The headline story is ...
- 2025 results: sales +10% and operating profit +6% at constant exchange rates, gross margin fell to 81% from 84.7% due to amortization and restructuring effects.
- Obesity care exploded, from DKK 6bn in 2019 to DKK 82bn in 2025, with Wegovy sales at DKK 28bn, up 134% in 2025.
- Wegovy pill approved by FDA December 22, launched January 5, and early uptake is rapid: about 50,000 prescriptions for the week ending January 23, with roughly 45,000 through self-pay that week.
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