Earnings Call Transcripts
Access detailed transcripts and key takeaways from company earnings calls
All Earnings Calls
Southwest Airlines Fourth Quarter 2025 Earnings Call - New Product Rollout Drives Guidance of at Least $4 Adjusted EPS for 2026
Southwest closed 2025 having executed a sweeping, company-wide transformation and says 2026 will be the payoff year. Management delivered record revenues, stronger-than-guided full-year EBIT of $574 m...
- Southwest guided 2026 adjusted EPS of at least $4, versus $0.93 adjusted EPS in 2025; management called this the lower end of internal expectations and left upside unquantified until more booking data arrives.
- Q1 2026 adjusted EPS guidance is at least $0.45, versus a loss of $0.13 in Q1 2025; Q1 RASM is expected to rise at least 9.5% year-over-year.
- Management reported full-year 2025 EBIT of $574 million, above prior guide of $500 million, and Q4 EBIT of $386 million; operating revenues were a record $7.4 billion in Q4 and $28 billion for the full year.
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A. O. Smith Corporation Fourth Quarter 2025 Earnings Call - Leonard Valve deal pivots company into water management amid China and wholesale headwinds
A. O. Smith closed 2025 with record EPS of $3.85, a modest sales uptick to $3.8 billion, strong free cash flow, and a clear strategic pivot. Management completed the acquisition of Leonard Valve to ex...
- Record EPS of $3.85 for 2025, up 6% versus adjusted 2024, driven by margin improvements across segments.
- 2025 total sales were $3.8 billion, essentially flat year over year, with North America offsetting weaker China results.
- Free cash flow was strong at $546 million, up 15% year over year, with 100% free cash flow conversion.
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Meritage Homes Fourth Quarter 2025 Earnings Call - Prioritizing Margin Over Volume, $400M Buyback and 3,400 Lot Walkaways
Meritage used Q4 to recalibrate. Facing soft demand, elevated incentives and weaker buyer urgency, management deliberately traded some near-term volume for margin discipline, walked away from roughly ...
- Q4 2025 sales orders were 3,224, with an average absorption pace of 3.2 net sales per month, below the prior-year 3.9.
- Q4 deliveries were 3,755 homes, producing home closing revenue of $1.4 billion.
- Adjusted home closing gross margin for Q4 was 19.3% (excluding $27.9M walkaway charges, $7.8M impairments, $3.2M severance).
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Coda Octopus Group FY2025 Earnings Call - 30.7% Revenue Gain as NanoGen and DAVD Pivot to Defense
Coda Octopus reported a 30.7% jump in consolidated revenue to $26.6 million in fiscal 2025, driven by a mix of organic sales and the October 2024 acquisition of Precision Acoustics. Management is pivo...
- Total consolidated revenue rose 30.7% year-over-year to $26.6 million in FY2025, compared with $20.3 million in FY2024.
- Core Marine Technology revenue was $13.2 million, a modest 3.2% increase year-over-year; Echoscope remains the revenue driver within this unit.
- Precision Acoustics Limited, acquired in October 2024, contributed $5.4 million and accounted for 20.4% of consolidated revenue and roughly 18.0% of consolidated gross profit in FY2025.
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Coda Octopus Group Fiscal Year 2025 Earnings Call - Revenue +30.7%; NanoGen Launch and DAVD Hardening Fuel Defense Pivot
Coda Octopus reported a 30.7% rise in consolidated net revenue to $26.6 million for fiscal 2025, driven by the October 2024 acquisition of Precision Acoustics and growth across its marine technology a...
- Consolidated revenue rose 30.7% year-over-year to $26.6 million in FY2025, compared with $20.3 million in FY2024.
- The October 2024 acquisition of Precision Acoustics Limited added $5.4 million in revenue and accounted for 20.4% of consolidated net revenue in FY2025.
- Marine Technology remains the core business, generating $13.2 million (up 3.2% year-over-year) and representing 49.8% of consolidated revenue.
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International Paper Fourth Quarter 2025 Earnings Call - Plans to Spin EMEA Packaging Into a Separate Public Company to Unlock Regional Value
International Paper used its fourth quarter 2025 call to announce a decisive strategic pivot: the company will separate its combined Packaging Solutions business into two publicly traded, regionally f...
- Company will separate Packaging Solutions into two standalone public companies, creating a North America-focused IP and an EMEA-focused packaging company, to accelerate value creation and region-specific strategies.
- Separation expected to be structured as a spin-off of the EMEA Packaging business within roughly 12 to 15 months, subject to regulatory approvals and customary conditions.
- International Paper will retain a meaningful ownership stake in the spun EMEA company; listing is planned on both the London and New York Stock Exchanges.
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Tractor Supply Company Q4 2025 Earnings Call - Storm Laps and Holiday Promotions Trim Q4, 2026 Guidance Sees Normalization
Tractor Supply flagged a softer-than-expected Q4 driven by two unusual forces and a promotional holiday environment. Net sales rose 3.3% to $3.9 billion with comps up just 0.3%, EPS of $0.43, and nota...
- Q4 headline: net sales +3.3% to $3.9 billion, comparable store sales +0.3%, diluted EPS $0.43.
- Full-year 2025: net sales $15.5 billion (+4.3%), comparable store sales +1.2%, diluted EPS $2.06.
- Management attributes Q4 shortfall mainly to three factors: lapping 2024 hurricane recovery (estimated ~100 bps comp headwind), a step-down in big-ticket discretionary purchases, and a heavier-than-expected promotional holiday environment.
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Carpenter Technology Second Quarter Fiscal Year 2026 Earnings Call - Record operating income as SAO margins hit 33%, pricing powered by tightening nickel-alloy supply
Carpenter delivered another beat, posting record quarterly operating income and a 16th consecutive quarter of margin expansion in its SAO business. Management hammered the point home that aerospace de...
- Company recorded a consolidated operating income of $155.2 million in Q2 FY2026, a new quarterly record and up 31% year-over-year.
- SAO segment delivered a record adjusted operating margin of 33.1%, marking the 16th consecutive quarter of margin expansion, and reported SAO operating income of $174.6 million.
- Sales excluding surcharge were up 8% year-over-year and down 2% sequentially, with volume up 5% YoY and up 4% sequentially.
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Liberty Energy Q4 2025 Earnings Call - LPI power push: 3 GW by 2029 anchored by Vantage 400 MW reservation
Liberty closed 2025 with $4.0 billion in revenue and $634 million of adjusted EBITDA, while pressing hard to transform from a completions-focused operator into a dual business: oilfield services plus ...
- Company results: 2025 revenue $4.0 billion, adjusted EBITDA $634 million, full-year net income $148 million and adjusted net income $25 million (excludes $123 million tax-affected investment gains).
- Fourth quarter 2025: revenue $1.0 billion, adjusted EBITDA $158 million, net income $14 million, adjusted net income $8 million; Q4 sequential revenue rose 10%.
- Capital and liquidity: year-end cash $28 million, net debt $219 million, total liquidity including revolver $281 million; returned $77 million to shareholders in 2025.
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Group 1 Automotive Q4 2025 Earnings Call - Record U.S. results offset U.K. restructuring and margin pressure
Group 1 closed 2025 with record revenue and full-year gross profit, driven by a standout U.S. performance in parts, service, and F&I, while the U.K. remained the drag as management accelerates restruc...
- Q4 results: Revenue $5.6 billion, gross profit $874 million, adjusted net income $105 million, adjusted diluted EPS $8.49 from continuing operations.
- Full-year milestones: All-time high gross profit above $3.6 billion, parts and service gross profit nearly $1.6 billion, and 459,000 vehicles sold in 2025.
- U.S. business carried the quarter: strong parts and service, and F&I, offsetting softer performance in the U.K.
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