Centuri (NYSE:CTRI) Q4 2025 Earnings call February 25, 2026 10:00 AM ET Company ParticipantsChris Brown - President and CEOChris Ellinghaus - Managing DirectorGregory Izenstark - CFOJoseph O'Dea - Managing DirectorManish Somaiya - Managing Director and Senior EquityNate Tetlow - Vice President of Investor RelationsConference Call ParticipantsAvi Jaroslawicz - Director and Equity Research AnalystJustin Hauke - Senior Research AnalystSangita Jain - Senior Equity Research AnalystSherif El-Sabbahy - Vice Presid ...

Financial Data and Key Metrics Changes - Total revenues increased by 15.3% to over $1 billion, compared to $872.7 million in the previous year, marking an all-time high [10] - Adjusted EPS rose by 23.6% to $0.68, exceeding previous guidance by $0.04 [12] - Adjusted EBITDA reached $214 million, up 17% from $182.9 million, with an improved adjusted EBITDA margin [13] Business Line Data and Key Metrics Changes - Leasing revenues increased by 13.6%, driven by strong activity in New York and Texas across retail, office, and industrial sectors [11] - Management and servicing revenues grew by 12% to over $1.24 billion, with a goal of exceeding $2 billion by 2029 [6] - Capital markets saw a 19.2% increase, reflecting significant activity in office, retail, and multifamily sectors [11] Market Data and Key Metrics Changes - Investment sales volumes surged by 50% in the fourth quarter, compared to 21% industry growth in the U.S. and 15% in Europe [7] - For the full year, investment sales volumes were up 56%, outpacing overall U.S. volumes which grew by 20% [7] - Quarterly debt volumes increased by 12%, with full-year origination volumes up 67%, compared to 43% for the U.S. industry [7] Company Strategy and Development Direction - The company is focused on leveraging AI and digital infrastructure to enhance service offerings and drive growth [8] - Newmark aims to continue its international expansion and increase market share across nearly all business lines [7] - The strategy includes investing in talent and technology to improve efficiency and margin enhancement [8] Management's Comments on Operating Environment and Future Outlook - Management expects double-digit growth in both top and bottom lines for the third consecutive year in 2026, with record total revenues and adjusted EPS [9] - The favorable macroeconomic backdrop for commercial real estate is anticipated to support continued growth [9] - Management highlighted the importance of AI as an accelerant for business opportunities and efficiency [20] Other Important Information - The company ended 2025 with $229.1 million in cash and cash equivalents and a net leverage of 0.8x [14] - Adjusted free cash flow increased by 38.4% to $268.9 million [14] - The board increased the share repurchase authorization to $400 million [13] Q&A Session Summary Question: AI's impact on office needs and employment - Management noted that it is early to fully understand AI's impact, but it is seen as an accelerant for business opportunities [19][20] Question: Expectations on debt refinancing and maturities - Management indicated that there is $2 trillion of debt coming due over the next three years, with significant activity expected in the market [27][28] Question: Risks of property-level data becoming public - Management acknowledged that while some data is confidential, there are opportunities to leverage proprietary data for evaluations [32][33] Question: Competitive landscape for talent - Management emphasized the importance of having a single team per vertical to avoid internal competition and enhance revenue per employee [63][64] Question: Revenue growth outlook for different business lines - Management expects capital markets to grow above the midpoint, management services to be in line, and leasing to be slightly below the midpoint [68]

Gulfport Energy (NYSE:GPOR) Q4 2025 Earnings call February 25, 2026 10:00 AM ET Company ParticipantsCarlos Escalante - Senior AssociateJessica Antle - VP of Investor RelationsJohn Reinhart - President and CEOMatthew Rucker - EVP and COOMichael Hodges - EVP and CFOZachariah Parham - Executive Director of Equity ResearchConference Call ParticipantsNeal Dingmann - AnalystNicholas Pope - Managing Director and Senior Research AnalystNoel Gonzalez - AnalystPeyton Dorne - AnalystOperatorAs a reminder, this confere ...

Financial Data and Key Metrics Changes - The fourth quarter net asset value (NAV) decreased by $654 million compared to the third quarter, despite an 11% performance increase in funds for the quarter [4] - For the year, the funds were approximately flat including refining hedges and up 7% excluding refining hedges [5] Business Line Data and Key Metrics Changes - Energy segment's adjusted EBITDA was $51 million for Q4 2025, down from $99 million in Q4 2024, impacted by low utilization in the fertilizer business [11] - Automotive service revenues decreased by $1 million compared to the prior year quarter, but same-store sales increased by 5% [11] - Real Estate's Q4 2025 adjusted EBITDA increased by $6 million, driven by intercompany income from the auto segment [12] - Food Packaging's adjusted EBITDA decreased by $8 million due to lower volume and higher manufacturing inefficiencies [12] - Home Fashion's adjusted EBITDA decreased by $5 million due to softening demand in the U.S. retail and hospitality business [13] - Pharma's adjusted EBITDA decreased by $4 million due to reduced sales from generic competition [13] Market Data and Key Metrics Changes - The company remains optimistic about the medium-term refining outlook, citing limited global capacity expansions and new pipeline projects [4] - The company has approximately $750 million in cash at the funds, which has recently increased to over $1.2 billion [9] Company Strategy and Development Direction - The company is taking a more cautious view of the market, focusing on defensive names that benefit from AI build-out [9] - The board declared an unchanged distribution at $0.50 per depository unit [10] Management's Comments on Operating Environment and Future Outlook - Management believes there are no material changes to CVI's outlook and is optimistic about improving profitability through better capture rates [4] - The company is focused on maintaining liquidity to capitalize on opportunities within and outside existing operating segments [14] Other Important Information - The company has taken steps to reduce corporate debt by calling in the remaining balance of the 2026 maturities [10] - A new CEO was appointed for the Food Packaging segment to lead through a transformative period [12] Q&A Session Summary - No specific questions or answers were documented in the provided content, indicating that the Q&A session may have concluded without notable inquiries or responses [15]

Exlservice (NasdaqGS:EXLS) Q4 2025 Earnings call February 25, 2026 10:00 AM ET Company ParticipantsAndrew Root - SVP of Investor Relations and Capital MarketsBryan Bergin - Managing DirectorDavid Grossman - Managing DirectorEllie Dyke - Equity Research AssociatePuneet Jain - Associate Equity ResearchRobert Bamberger - VP and Senior Equity Research AssociateRohit Kapoor - Chairman and CEOVivek Jetley - President and Head of EXL AnalyticsConference Call ParticipantsVincent Colicchio - Managing Director and Se ...

Gulfport Energy (NYSE:GPOR) Q4 2025 Earnings call February 25, 2026 10:00 AM ET Company ParticipantsCarlos Escalante - Senior AssociateJessica Antle - VP of Investor RelationsJohn Reinhart - President and CEOMatthew Rucker - EVP and COOMichael Hodges - EVP and CFOZachariah Parham - Executive Director of Equity ResearchConference Call ParticipantsNeal Dingmann - AnalystNicholas Pope - Managing Director and Senior Research AnalystNoel Gonzalez - AnalystPeyton Dorne - AnalystOperatorAs a reminder, this confere ...

Volaris (NYSE:VLRS) Q4 2025 Earnings call February 25, 2026 10:00 AM ET Company ParticipantsEnrique Beltranena - Founder and CEOHolger Blankenstein - Executive Vice PresidentJaime Pous - CFOLiliana Juárez - Investor Relations ManagerRicardo Alves - Director and Tech Project ManagerConference Call ParticipantsNone - AnalystNone - AnalystOperatorGood morning, everyone. Thank you for joining Volaris' fourth quarter and full year 2025 financial results conference call. All lines are currently in a listen-only m ...

BKV (NYSE:BKV) Q4 2025 Earnings call February 25, 2026 10:00 AM ET Company ParticipantsBetty Jiang - Managing Director of US Integrateds and E&Ps Equities ResearchChris Kalnin - CEODavid Tameron - CFOEric Jacobsen - President of UpstreamJacob Roberts - DirectorJonathan Mardini - Equity Research AssociateMichael Furrow - VP of PEP ResearchMichael Hall - VP of Investor RelationsMichael Scialla - Managing DirectorPhu Pham - Equity Research AssociateScott Gruber - Director of Oilfield Services and Equipment Res ...

Financial Data and Key Metrics Changes - Adjusted diluted earnings per common share increased to $2.17 from $0.25 in the prior year quarter, primarily due to a lower net loss ratio and higher net premiums earned and net investment income [4] - Core revenue reached $403.6 million, up 4.4% year-over-year, driven by higher net premiums earned and net investment income [4] - Direct premiums written were $483.7 million, reflecting a 2.7% increase from the prior year quarter, with an 18.2% growth in other states, partially offset by a 3.1% decrease in Florida [4] Business Line Data and Key Metrics Changes - Direct premiums earned totaled $538 million, up 3.6% year-over-year, indicating growth in direct premiums written over the past 12 months [5] - Net premiums earned were $363.4 million, up 4.3% from the prior year quarter, attributed to higher direct premiums earned and a lower ceded premium ratio [5] - The net combined ratio improved to 87.5%, down 20.4 points compared to the prior year quarter, due to a lower net loss ratio [5] Market Data and Key Metrics Changes - The net loss ratio decreased to 61.3%, down 21 points from the prior year quarter, reflecting better current accident year results [5] - The net expense ratio increased to 26.2%, up 0.6 points from 25.6% in the prior year quarter, driven by higher other operating costs [6] Company Strategy and Development Direction - The company is negotiating its 2026 reinsurance program, with a substantial portion of its first event catastrophe tower already placed [3] - The company is optimistic about the competitive environment, citing favorable relationships with agency forces and positive market trends [9] - The company plans to continue analyzing markets for profitability, with a focus on Florida, where positive developments have been observed [9][11] Management's Comments on Operating Environment and Future Outlook - Management highlighted the benefits of Florida's legislative reforms, which have stabilized the market and benefited all stakeholders [3] - The company anticipates that favorable legislation and reduced severity and frequency of claims will continue to create a positive environment [10][11] - Management expressed confidence in the company's capital position and reserves, stating they are the strongest in the company's history [3] Other Important Information - The company repurchased approximately 210,000 shares at a cost of $6.9 million during the fourth quarter [6] - A new share repurchase program was announced, allowing for the repurchase of up to $20 million of outstanding shares through January 2028 [6] - A quarterly cash dividend of $0.16 per common share was declared, payable on March 13, 2026 [7] Q&A Session Summary Question: Competitive environment and price declines - Management views the competitive environment as favorable, with positive market trends and increased business across opened markets [9] Question: Regulatory environment and affordability issues - Management credited Florida's legislative actions for the current favorable position of the industry and indicated that a decrease in rates does not necessarily lead to decreased earnings [10][11]

Financial Data and Key Metrics Changes - Adjusted diluted earnings per common share increased to $2.17 from $0.25 in the prior year quarter, primarily due to a lower net loss ratio and higher net premiums earned and net investment income [4] - Core revenue reached $403.6 million, up 4.4% year-over-year, driven by higher net premiums earned and net investment income [4] - Direct premiums written were $483.7 million, reflecting a 2.7% increase from the prior year quarter, with an 18.2% growth in other states, partially offset by a 3.1% decrease in Florida [4] Business Line Data and Key Metrics Changes - Direct premiums earned amounted to $538 million, up 3.6% year-over-year, indicating growth in direct premiums written over the past 12 months [5] - Net premiums earned were $363.4 million, up 4.3% from the prior year quarter, attributed to higher direct premiums earned and a lower ceded premium ratio [5] - The net combined ratio improved to 87.5%, down 20.4 points compared to the prior year quarter, due to a lower net loss ratio [5] Market Data and Key Metrics Changes - The net loss ratio decreased to 61.3%, down 21 points from the prior year quarter, reflecting better current accident year results [5] - The net expense ratio increased to 26.2%, up 0.6 points from 25.6% in the prior year quarter, driven by higher other operating costs [6] Company Strategy and Development Direction - The company is negotiating its 2026 reinsurance program, with a substantial portion of its first event catastrophe tower already placed [3] - The company is optimistic about the competitive environment, citing favorable relationships with agency forces and positive market trends [9] - The company plans to continue analyzing markets for profitability, with a focus on Florida, where positive developments have been observed [9][11] Management's Comments on Operating Environment and Future Outlook - Management highlighted the benefits of Florida's legislative reforms, which have stabilized the market and benefited all stakeholders [3] - The company anticipates modest declines in rates but emphasizes that a decrease in rates does not necessarily lead to a decrease in earnings [10] - Management expressed confidence in the current operating environment, noting improved retention rates and the potential for reduced reinsurance costs [11] Other Important Information - The company repurchased approximately 210,000 shares at a cost of $6.9 million during the fourth quarter [6] - A new share repurchase program was announced, allowing for the repurchase of up to $20 million of outstanding shares through January 2028 [6] - A quarterly cash dividend of $0.16 per common share was declared, payable on March 13, 2026 [7] Q&A Session Summary Question: Competitive environment and price declines - Management views the competitive environment as favorable, with positive market trends and strong agency relationships [9] Question: Regulatory environment and affordability issues - Management credited Florida's legislative actions for the current favorable position of the industry and indicated ongoing actuarial studies for rate adjustments [10][11]