Earnings Call Transcripts
Access detailed transcripts and key takeaways from company earnings calls
All Earnings Calls
Tetra Tech First Quarter 2026 Earnings Call - Strong start despite government shutdown, margin expansion and international water programs lift guidance
Tetra Tech opened fiscal 2026 on a firm note, reporting an 8% revenue increase to $987 million and meaningful margin expansion despite a long U.S. federal shutdown. Management highlighted stronger fro...
- Net revenue $987 million in Q1, up 8% versus prior year, delivered despite the longest U.S. federal shutdown in history.
- Operating income was $131 million, up 12% year-over-year; management cited higher-margin front-end consulting as the driver.
- GAAP EPS was $0.40 for the quarter; management reported adjusted EPS in the mid-30 cents range (management cited $0.34 and $0.35 figures).
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MarineMax Fiscal 2026 Q1 Earnings Call - Inventory Cut $170M, Premium Sales Lift ASPs while Retail Margins Remain Under Pressure
MarineMax closed a tough, seasonally small fiscal Q1 with mixed signals. Same-store sales jumped nearly 11%, driven by higher average unit prices after a strong Fort Lauderdale Boat Show, yet unit vol...
- Revenue for fiscal Q1 was $505 million, supported by nearly 11% same-store sales growth.
- Unit volumes declined low- to mid-single digits, while average unit price rose significantly, driven in part by Fort Lauderdale and larger product mix.
- Gross profit was $160 million; retail boat margins are more than 400 basis points below historical norms due to aggressive winter promotions and industry inventory overhang.
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Danaher Corporation Fourth Quarter 2025 Earnings Call - Bioprocessing Strength Anchors 2026 Guide
Danaher closed 2025 with a clean finish: $24.6 billion in sales, durable free cash flow, and improving top-line momentum driven by bioprocessing and a recovering diagnostics business. Management is gu...
- Full-year 2025 sales were $24.6 billion, with core revenue up 2% year-over-year.
- Danaher generated $5.3 billion of free cash flow in 2025, a free cash flow to net income conversion of ~145%, the 34th consecutive year above 100%.
- Fourth quarter 2025 sales were $6.8 billion, core revenue growth of 2.5%, adjusted diluted EPS of $2.23 (up 4%), and $1.8 billion of free cash flow in the quarter.
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Otis Q4 2025 Earnings Call - Record modernization backlog and record Q4 adjusted free cash flow
Otis closed 2025 on an industrial note, leaning into its service-first playbook while piling up a historic modernization backlog. Q4 delivered a record $817 million of adjusted free cash flow and serv...
- Q4 adjusted free cash flow hit a record $817 million, driving full-year adjusted FCF of about $1.6 billion and enabling $1.5 billion returned to shareholders in 2025.
- Modernization is the breakout story, with orders up 43% at constant currency in Q4 and modernization backlog up 30%, the largest since the spin.
- Service drove Q4 organic sales, up 5% overall, with maintenance and repair growing 4% and modernization organic sales up 9%.
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Virtu Financial Q4 2025 Earnings Call - Capital Deployment and Broad Trading Push NT to Highest Since Q1 2021
Virtu reported a clear rebound in trading profitability in Q4 2025, driven by a mix of favorable market conditions, expanded trading capital and stronger client activity across its execution and marke...
- Adjusted net trading income (NT) for Q4 2025 was $9.7 million per day, $613 million total, the highest quarterly NT since Q1 2021.
- Full year 2025 NT was $8.6 million per day, or $2.1 billion in total.
- Market Making NT: $7.8 million per day in Q4, $6.7 million per day for full year 2025.
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M/I Homes Q4 2025 Earnings Call - Balance Sheet Strength and Spec-Heavy Sales Kept Results Healthy Despite Margin Pressure
M/I Homes closed 2025 with one foot in defense and the other nudging offense. Strong cash, near-zero net debt, and a five to six year lot supply gave the company flexibility to lean into spec inventor...
- Full-year 2025 deliveries were 8,921 homes, with revenue of $4.4 billion.
- Pre-tax income excluding $59 million of inventory and warranty charges was about $590 million, down 20% from $734 million in 2024.
- Pre-tax margin was 13% before charges and 12% after charges for the full year.
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AT&T Q4 2025 Earnings Call - Fiber and 5G Convergence to 40M+ Locations, Backing $45B Return Plan
AT&T closed 2025 with clear momentum: robust 5G and fiber adds, accelerating fixed wireless growth, and a bold push to expand fiber reach from 32 million to over 40 million locations this year. Manage...
- AT&T posted another year of subscriber growth, with over 1.5 million postpaid phone net adds for the fifth straight year, and over 1 million AT&T Fiber net adds for the eighth consecutive year.
- AT&T Internet Air added 875,000 net subscribers in 2025, more than doubling its base and accelerating fixed wireless adoption as a complement to fiber.
- Management expects to expand fiber availability from 32 million passings at end-2025 to over 40 million locations by the end of 2026, including Gigapower and the Lumen fiber assets.
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ServiceNow Q4 2025 Earnings Call - AI Control Tower momentum drives accelerated bookings and Now Assist scale
ServiceNow closed 2025 with a beat and a capital plan that signals confidence, not desperation. Q4 results outpaced guidance across bookings, subscription revenue, and margins, while Now Assist, Workf...
- Q4 beat and full-year outperformance: Q4 subscription revenue was $3.466 billion, growing 19.5% year over year in constant currency, 150 basis points above the high end of guidance.
- Bookings acceleration: Company said net new ACV growth accelerated both sequentially and year over year in Q4, with 244 deals greater than $1 million and seven deals greater than $10 million in NNACV for the quarter.
- RPO and CRPO strength: Total RPO ended at approximately $28.2 billion, up 22.5% year over year in constant currency; current RPO was $12.85 billion, up 21% year over year and 200 basis points above guidance. CRPO growth was 25%, 21% in constant currency.
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Caterpillar Q4 2025 Earnings Call - Record sales and $51B backlog, but tariffs and capacity bite margins
Caterpillar closed 2025 with its highest-ever sales and revenues, a $19.1 billion record quarter and a year-end backlog of $51 billion, evidence of strong end-market demand led by Power and Energy. Th...
- Record results: Q4 sales and revenues hit $19.1 billion, the highest quarterly revenue in Caterpillar history, supporting full-year sales of $67.6 billion, a 4% increase versus 2024.
- Backlog surge: Year-end backlog reached $51 billion, up $21 billion or 71% year-over-year, with about 62% of that backlog expected to deliver in the next 12 months, a lower than normal conversion rate historically.
- Power and Energy strength: Power and Energy sales to users rose 37% in Q4, with Power Generation up 44%, driven by large genset and turbine demand for data centers, plus strong Oil and Gas turbine and compression orders.
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Las Vegas Sands Q4 2025 Earnings Call - Marina Bay Sands Posts Record Quarter While Macau Faces Margin Pressure
Marina Bay Sands kept its foot on the gas, delivering a landmark quarter as Las Vegas Sands cleared $806 million of EBITDA at MBS and pushed annual consolidated EBITDA past $2.9 billion. Singapore is ...
- Marina Bay Sands produced a record quarter: $806 million EBITDA and a 50.3% margin, driven by strong mass and premium demand.
- Company-wide EBITDA for the year exceeded $2.9 billion, signaling a strong recovery and operating leverage across key assets.
- Singapore mass gaming surpassed $951 million in the quarter, up 118% versus Q4 2019 and 27% year-over-year, highlighting outsized post-pandemic growth.
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