Vishay Intertechnology (NYSE:VSH) Q4 2025 Earnings call February 04, 2026 09:00 AM ET Company ParticipantsDave McConnell - CFOJoel Smejkal - CEOPeter Henrici - Head of Investor RelationsPeter Peng - Equity Research AssociateShawn Holland - Financial Advisor and Portfolio ManagerConference Call ParticipantsRuplu Bhattacharya - VP and Senior Equity Research AnalystOperatorGood day, and thank you for standing by. Welcome to the Vishay Intertechnology Fourth Quarter 2025 earnings call. At this time, all partici ...

Financial Data and Key Metrics Changes - The company reported full-year adjusted earnings per share of $10, exceeding initial guidance by $0.54, with total net revenues of $61.2 billion, surpassing guidance by over $2 billion [5][6] - Sales growth of 8.6% led to record net sales, exceeding previous peak revenue by more than $3 billion despite nearly $16 billion erosion from U.S. Humira [6][9] - Adjusted earnings per share for the fourth quarter were $2.71, $0.08 above guidance midpoint, with total net revenues of $16.6 billion, reflecting robust growth of 10% [32][33] Business Line Data and Key Metrics Changes - Immunology revenues reached approximately $8.6 billion, with Skyrizi sales of $5 billion (31.9% operational growth) and Rinvoq sales of nearly $2.4 billion (28.6% operational growth) [10][11] - Neuroscience full-year revenues exceeded $10.7 billion, with Vraylar and Botox Therapeutic driving significant growth [17] - Oncology revenues were nearly $1.7 billion in the quarter, with Venclexta sales of $710 million, reflecting strong demand [19] Market Data and Key Metrics Changes - Global sales for Skyrizi in IBD were approximately $6.4 billion, more than double the prior year's performance [13] - Humira delivered global sales of over $1.2 billion, down 26.1% operationally due to biosimilar competition [16] - The aesthetics segment delivered global sales of nearly $1.3 billion, with Botox Cosmetic revenues of $717 million, up 3.8% [20][21] Company Strategy and Development Direction - The company plans to deliver total sales growth of 9.5% in 2026, driven by Skyrizi and Rinvoq, with combined sales expected to exceed $31 billion [7][8] - A voluntary agreement with the U.S. government aims to enhance patient access and affordability while committing $100 billion in U.S. R&D and capital investments over the next decade [9] - The company is focused on expanding its pipeline through strategic transactions, investing over $5 billion in new business development [6][7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong position to deliver high single-digit revenue growth through 2029, despite headwinds from Humira erosion and Imbruvica IRA pricing [8][9] - The outlook for diverse product portfolios remains strong, with expectations for substantial sales ramp for Vyalev and continued double-digit growth from migraine products [8][9] - Management highlighted the potential for sustained long-term growth driven by innovative therapies and pipeline advancements [9][10] Other Important Information - The company anticipates free cash flow of approximately $18.5 billion in 2026, supporting a strong and growing quarterly dividend [38][39] - The adjusted operating margin is expected to expand to approximately 48.5% in 2026 [36] Q&A Session Summary Question: Details on the psychedelic therapy in development - Management highlighted the potential of the psychedelic therapy, noting its unique mechanism and observed high levels of efficacy, with further readouts expected [42][43][44] Question: Immunology franchise performance and growth expectations - Management confirmed stable new patient starts for Skyrizi in both Crohn's and UC, with high capture rates despite competition, indicating confidence in continued growth for Skyrizi and Rinvoq [51][53][55][56] Question: Update on external innovation and business development - The company has invested over $8 billion in external innovation, focusing on early-stage opportunities while remaining open to late-stage assets to enhance growth drivers [64][66] Question: Expectations for Rinvoq and Lutikizumab phase 3 data - Management expressed excitement for the upcoming studies, emphasizing the importance of efficacy in treatment failure populations and the potential for both assets to capture significant market share [68][70]

Financial Data and Key Metrics Changes - The company reported full-year adjusted earnings per share of $10, exceeding initial guidance by $0.54, with total net revenues of $61.2 billion, surpassing guidance by over $2 billion [5][6] - Sales growth of 8.6% led to record net sales, exceeding previous peak revenue by more than $3 billion despite nearly $16 billion erosion from U.S. Humira [6][9] - Adjusted earnings per share for the fourth quarter were $2.71, $0.08 above guidance midpoint, with total net revenues of $16.6 billion, reflecting robust growth of 10% [32][33] Business Line Data and Key Metrics Changes - Immunology revenues reached approximately $8.6 billion in the fourth quarter, with Skyrizi sales of $5 billion (31.9% operational growth) and Rinvoq sales of nearly $2.4 billion (28.6% operational growth) [10][11] - Neuroscience full-year revenues exceeded $10.7 billion, with a quarterly revenue of over $2.9 billion, up 17.3% operationally, driven by Vraylar and Botox Therapeutic [16][17] - Oncology revenues were nearly $1.7 billion in the quarter, down 2.5% operationally, with Venclexta sales of $710 million, up 6.4% [19][20] Market Data and Key Metrics Changes - Global sales for Skyrizi in IBD reached approximately $6.4 billion in 2025, more than double the prior year performance [13][14] - The aesthetics market faced economic headwinds, with global sales of nearly $1.3 billion in the quarter, down 1.2% operationally [21][22] - The company anticipates total sales growth of 9.5% in 2026, driven by Skyrizi and Rinvoq, with combined sales expected to exceed $31 billion [7][8] Company Strategy and Development Direction - The company is focused on advancing its pipeline across all stages of development and has invested over $5 billion in new business development [6][7] - A voluntary agreement with the U.S. government aims to enhance patient access and affordability while committing $100 billion in U.S. R&D and capital investments over the next decade [9] - The company plans to leverage its diverse portfolio to deliver high single-digit revenue growth through 2029 [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong position to deliver robust growth despite headwinds from Humira erosion and pricing pressures [5][7] - The outlook for 2026 includes expectations for substantial sales growth driven by key products, with a focus on maintaining momentum in immunology and neuroscience [8][9] - Management highlighted the potential for long-term growth in neuroscience and oncology, with several promising assets in the pipeline [59][60] Other Important Information - The company anticipates a significant ramp for Vyalev, achieving blockbuster status as a treatment for Parkinson's [8][18] - The adjusted operating margin is expected to expand to approximately 48.5% in 2026, reflecting operational efficiencies [36] - The company expects to generate free cash flow of approximately $18.5 billion in 2026, supporting dividends and investments in business development [38][39] Q&A Session Summary Question: Details on the psychedelic therapy in development - Management highlighted the potential of the psychedelic therapy, noting its unique mechanism and observed high efficacy, with further readouts expected before phase III [42][43][44] Question: Insights on Skyrizi's performance in IBD - Management confirmed stable new patient starts for Skyrizi in both Crohn's and UC, with high capture rates despite competition, indicating strong market positioning [51][53][54] Question: Update on external innovation and business development - The company has invested over $8 billion in external innovation, focusing on early-stage opportunities to enhance its pipeline across core therapeutic areas [64][66] Question: Expectations for Rinvoq and lutikizumab phase III data - Management expressed optimism for Rinvoq's performance in treatment failure populations and highlighted lutikizumab's strong efficacy in phase II, anticipating meaningful results in phase III [68][69][70]

Corteva (NYSE:CTVA) Q4 2025 Earnings call February 04, 2026 09:00 AM ET Company ParticipantsChris Parkinson - Managing DirectorChuck Magro - CEODavid Johnson - EVP and CFOJudd O'Connor - EVP, Seed Business UnitKim Booth - Head of Investor RelationsRobert King - EVP, Crop Protection Business UnitConference Call ParticipantsEdlain Rodriguez - Senior Equity AnalystOperatorThank you for standing by. My name is Kate, and I will be your conference operator today. At this time, I would like to welcome everyone to ...

Twin Disc (NasdaqGS:TWIN) Q2 2026 Earnings call February 04, 2026 09:00 AM ET Company ParticipantsJeff Knutson - CFOJohn Batten - CEOConference Call ParticipantsJoe Nolan - Associate AnalystOperatorWelcome to the Twin Disc Inc. fiscal second quarter 2026 conference call. We will begin with introductory remarks from Jeff Knutson, Twin Disc CFO.Jeff KnutsonGood morning, and thank you for joining us today to discuss our fiscal 2026 second quarter results. On the call with me today is John Batten, Twin Disc CEO ...

Twin Disc (NasdaqGS:TWIN) Q2 2026 Earnings call February 04, 2026 09:00 AM ET Company ParticipantsJeff Knutson - CFOJohn Batten - CEOConference Call ParticipantsJoe Nolan - Associate AnalystOperatorWelcome to the Twin Disc Inc. fiscal second quarter 2026 conference call. We will begin with introductory remarks from Jeff Knutson, Twin Disc CFO.Jeff KnutsonGood morning, and thank you for joining us today to discuss our fiscal 2026 second quarter results. On the call with me today is John Batten, Twin Disc CEO ...

Financial Data and Key Metrics Changes - The company reported a net income of $403 million for the first quarter of fiscal 2026, translating to $2.44 per diluted share, which is a 9.4% increase compared to the prior year quarter [4][10] - Capital expenditures for the first quarter totaled $1 billion, with over 85% focused on enhancing safety and reliability [4][5] - The rebased fiscal 2026 earnings per share guidance is set in the range of $8.15-$8.35 per share [4][14] Business Line Data and Key Metrics Changes - The Atmos Pipeline-Texas division completed significant projects, including the installation of approximately 55 miles of pipeline and enhancements to the Bethel Salt Dome storage facility [5][6] - Rate increases across operating segments contributed an additional $68 million to operating income [10] - APT's through system revenues, net of Rider REV, increased by about $7 million, although through system volumes declined by approximately 2 Bcf due to maintenance [10][11] Market Data and Key Metrics Changes - The company added nearly 54,000 new customers over the 12 months ending December 31, 2025, with 42,000 in Texas [7] - Customer satisfaction ratings reached 98% for the quarter, and Atmos Energy was recognized for customer satisfaction in the South and Midwest regions [8][9] Company Strategy and Development Direction - The company continues to focus on system modernization and safety, aiming to be the safest provider of natural gas services [3] - The strategy includes significant capital investments, with a planned capital spending of $4.2 billion for fiscal 2026 [14] - The company is actively engaging in regulatory discussions regarding affordability and reliability, emphasizing the importance of investments for system performance [32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the rebased earnings guidance and highlighted the positive impact of recent projects and customer growth [10][14] - The company noted that the recent Winter Storm Fern had minimal impact on supply and operational performance compared to previous storms [24] Other Important Information - The company has $4.6 billion in available liquidity, including $1.1 billion in net proceeds from existing forward sale agreements [13][14] - The company is pursuing additional regulatory filings for annualized operating income increases, seeking approximately $400 million [12] Q&A Session Summary Question: Discussion on the $35 million benefit for the quarter - Management indicated that the benefit will be influenced by spending timing and operational activities, maintaining guidance of $8.15-$8.35 per share [16][17] Question: Financial impacts from Winter Storm Fern - Management stated that the storm's impact was not as significant as previous storms, with minimal supply issues and effective gas supply plans in place [23][24] Question: Affordability pressures in regulatory proceedings - Management confirmed that affordability is a continuous topic with regulators, who understand the need for investment to maintain reliability [31][32] Question: Opportunities in gas power and storage - Management noted ongoing inquiries for large loads and power generation, with evaluations for potential gas storage needs post-winter [55][56] Question: Impact of recent political changes in Texas - Management emphasized an apolitical stance, focusing on collaboration with all stakeholders to promote the importance of natural gas [38][39] Question: Mississippi rate case outcomes - Management indicated that the plan remains unchanged, focusing on safety and reliability investments regardless of regulatory outcomes [40][41]

Kennametal (NYSE:KMT) Q2 2026 Earnings call February 04, 2026 09:00 AM ET Company ParticipantsMichael Pici - VP of Investor RelationsPatrick Watson - CFOSanjay Chowbey - CEOConference Call ParticipantsAngel Castillo - AnalystChristian Zylstra - AnalystJulian Mitchell - AnalystStephen Volkmann - AnalystSteven Fisher - AnalystTami Zakaria - AnalystOperatorGood morning. I would like to welcome everyone to Kennametal's second quarter and fiscal 2026 earnings conference call. All lines have been placed on mute t ...

Lear (NYSE:LEA) Q4 2025 Earnings call February 04, 2026 09:00 AM ET Company ParticipantsEmmanuel Rosner - Managing DirectorJason Cardew - SVP and CFOJoe Spak - Managing DirectorRay Scott - President and CEOTim Brumbaugh - VP of Investor RelationsConference Call ParticipantsColin Langan - Automotive and Mobility AnalystDan Levy - Senior Equity Research AnalystItay Michaeli - Equity AnalystMark Delaney - Managing Director and Senior Equity AnalystOperatorGood morning, everyone, and welcome to the Lear Corpora ...

Valvoline (NYSE:VVV) Q1 2026 Earnings call February 04, 2026 09:00 AM ET Company ParticipantsChris O'Cull - Managing DirectorElizabeth Clevinger - Head of Investor RelationsKevin Willis - CFOLori Flees - President and CEOMax Rakhlenko - Managing DirectorSkylar Tennant - Equity Research AssociateSteven Zaccone - DirectorConference Call ParticipantsDavid Bellinger - Director and Senior AnalystDavid Lantz - VP and Equity Research AnalystMark Jordan - VP and Equity Research AnalystScott Stember - Managing Direc ...