BlueLinx (NYSE:BXC) Q4 2025 Earnings call February 25, 2026 10:00 AM ET Company ParticipantsAditya Madan - Senior Equity Research AssociateJeffrey Stevenson - VP of Equity DivisionKelly Wall - CFO and TreasurerShyam Reddy - CEOTom Morabito - Investor Relations OfficerConference Call ParticipantsJohn McGlade - Associate Equity Research AnalystOperatorLadies and gentlemen, thank you for standing by, and welcome to the BlueLinx Holdings' fourth quarter and full year 2025 earnings conference call. At this time, ...

EOG Resources (NYSE:EOG) Q4 2025 Earnings call February 25, 2026 10:00 AM ET Company ParticipantsAnn Janssen - CFODerrick Whitfield - Managing DirectorEzra Yacob - Chairman and CEOJeff Leitzell - COOKeith Trasko - SVP of Exploration and ProductionMatthew Portillo - Partner and Head of ResearchNeil Mehta - Head of Americas Natural Resources Equity ResearchPearce Hammond - VP of Investor RelationsPhillip Jungwirth - Managing DirectorScott Hanold - Managing DirectorSteve Richardson - Senior Managing DirectorCo ...

Financial Data and Key Metrics Changes - Full-year adjusted EBITDA was $634 million, with adjusted net income at $7.56 per share, indicating a strong performance for the year [3][13] - Fourth quarter adjusted EBITDA was $113 million, and adjusted net income was $60 million, or $1.17 per share [13] - Liquidity improved by 49% to approximately $915 million, with shares outstanding reduced by 10% [7][19] Business Line Data and Key Metrics Changes - The refining segment generated $88 million of adjusted EBITDA in the fourth quarter, down from $135 million in the third quarter [13][14] - Logistics segment adjusted EBITDA was $30 million in the fourth quarter, compared to $37 million in the third quarter, with full-year logistics adjusted EBITDA reaching a record $126 million [17][18] - Retail achieved a record $86 million in adjusted EBITDA for the full year, up from $76 million in 2024 [18] Market Data and Key Metrics Changes - The combined refining index averaged $13.13 per barrel in the fourth quarter, down approximately $1.60 from the prior quarter [14] - Hawaii's throughput averaged 84,000 barrels per day, approximately 4% above the prior 3-year average [4] - In Wyoming, throughput was 14,000 barrels per day, with production costs elevated at $13.27 per barrel due to a third-party power outage [11] Company Strategy and Development Direction - The company aims to improve mid-cycle earnings contribution through targeted high-return projects and maintain disciplined capital allocation [8][19] - Strategic priorities include executing the Hawaii turnaround safely, starting up the renewable fuels unit, and enhancing logistics integration [8][19] - The company is focused on structural improvements rather than predicting short-term market movements [8] Management's Comments on Operating Environment and Future Outlook - Management expressed a constructive view on the medium-term economic outlook, citing an improving policy backdrop [7] - The company highlighted the importance of operational reliability and safety as foundational to financial success [4] - Management emphasized the need for disciplined growth and the potential for external growth opportunities, including retail integration and refinery acquisitions [29][30] Other Important Information - The company reported a significant operational recovery following the Wyoming heater outage, restoring operations more than one month ahead of schedule [10] - Cash from operations for the full year was $568 million, excluding working capital outflows [18] - The company has monetized less than half of the SRE-related excess RIN inventory, providing favorable working capital visibility into 2026 [19] Q&A Session Summary Question: Capital allocation and share repurchases - Management indicated a flexible approach to capital allocation, considering both share repurchases and internal growth opportunities [23] Question: Q4 capture rates and outlook - Management explained that lower capture rates in the Rockies were due to coker downtime and a regional power outage impacting operations [24][25] Question: External growth opportunities - Management discussed the focus on synergistic growth opportunities, including small retail acquisitions and new builds, while being disciplined in larger M&A [28][29] Question: Sensitivity to WCS differential - Management clarified that every dollar of WCS differential is worth around $15 million to $16 million annually, with favorable conditions expected due to increased Venezuelan crude [35][36]

Starwood Property Trust (NYSE:STWD) Q4 2025 Earnings call February 25, 2026 10:00 AM ET Company ParticipantsBarry Sternlicht - Co-Founder, Chairman, and CEOJeffrey DiModica - President and Managing DirectorRina Paniry - CFOSean Murdock - President of Starwood Infrastructure FinanceZachary Tanenbaum - COO and Head of Investor RelationsConference Call ParticipantsDon Fandetti - Managing Director and Senior Equity Research AnalystGabe Poggi - Senior Equity Research AnalystJade Rahmani - Managing Director and S ...

Grupo Aeroportuario del Pacífico (NYSE:PAC) Q4 2025 Earnings call February 25, 2026 10:00 AM ET Company ParticipantsAlejandra Soto - Investor Relations OfficerGabriel Himelfarb - Associate DirectorJulia Orsi - Equity Research AssociateRaúl Revuelta - CEOConference Call ParticipantsEnrique Cantú - AnalystOperatorGood morning, everyone. Welcome to GAP's fourth quarter of 2025 conference call. All lines have been placed on mute to prevent any background noise. After the presentation, we will open the floor for ...

Financial Data and Key Metrics Changes - The fourth quarter NAV decreased by $654 million compared to the third quarter, despite an 11% increase in fund performance for the quarter [4] - For the year, the company was 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 capacity expansions globally and new pipeline projects [4] - The cash balance at the funds increased to greater than $1.2 billion as of year-end [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 remains optimistic about profitability improvements [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] - The CEO position in Food Packaging was changed, bringing back Tom Davis to lead during a transformative period [12] Q&A Session Summary - The Q&A session was brief and concluded without specific questions being documented in the provided content [15][17]

Talos Energy (NYSE:TALO) Q4 2025 Earnings call February 25, 2026 10:00 AM ET Company ParticipantsClay Johnson - VP of Investor RelationsNate Pendleton - VPNoel Parks - Managing Director of CleanTech and E and PPaul Goodfellow - President and CEOZachary B. Dailey - EVP and CFOConference Call ParticipantsGreta Drefke - Equity Research AnalystMichael Scialla - Managing Director and Energy Equity Research AnalystPaul Diamond - VP and Equity Research AnalystTim Rezvan - Managing Director and Senior Equity Resear ...

MGP Ingredients (NasdaqGS:MGPI) Q4 2025 Earnings call February 25, 2026 10:00 AM ET Company ParticipantsAmit Sharma - VP of Investor RelationsBrandon Gall - CFOJulie Francis - CEOMitchell Pinheiro - SVP and Director of ResearchSeamus Cassidy - Equity Research AssociateConference Call ParticipantsBen Klieve - Senior Research AnalystMarc Torrente - AnalystSean McGowan - Managing Director and Senior Research AnalystOperatorGood day, welcome to the MGP Ingredients Fourth Quarter 2025 Financial Results Conferenc ...

Talos Energy (NYSE:TALO) Q4 2025 Earnings call February 25, 2026 10:00 AM ET Company ParticipantsClay Johnson - VP of Investor RelationsNate Pendleton - VPNoel Parks - Managing Director of CleanTech and E and PPaul Goodfellow - President and CEOZachary B. Dailey - EVP and CFOConference Call ParticipantsGreta Drefke - Equity Research AnalystMichael Scialla - Managing Director and Energy Equity Research AnalystPaul Diamond - VP and Equity Research AnalystTim Rezvan - Managing Director and Senior Equity Resear ...

MGP Ingredients (NasdaqGS:MGPI) Q4 2025 Earnings call February 25, 2026 10:00 AM ET Company ParticipantsAmit Sharma - VP of Investor RelationsBrandon Gall - CFOJulie Francis - CEOMitchell Pinheiro - SVP and Director of ResearchSeamus Cassidy - Equity Research AssociateConference Call ParticipantsBen Klieve - Senior Research AnalystMarc Torrente - AnalystSean McGowan - Managing Director and Senior Research AnalystOperatorGood day, welcome to the MGP Ingredients Fourth Quarter 2025 Financial Results Conferenc ...