Vishay Intertechnology (NYSE:VSH) Q4 2025 Earnings call February 04, 2026 09:00 AM ET Company ParticipantsDave McConnell - CFOJoel Smejkal - President and 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 tim ...

Financial Data and Key Metrics Changes - Adjusted EPS for Q2 was $0.46, up 10% year-over-year, while GAAP EPS increased to $0.24 from $0.22 in the prior year [19] - Total revenue for Q2 was $295.9 million, flat year-over-year on both an organic and reported basis, with foreign currency exchange contributing a 2% tailwind [19][20] - Adjusted gross margin was 68.5%, down from 70.5% last year, driven by unfavorable product and customer mix [21] - Adjusted operating margin reached 31.1%, up 100 basis points year-over-year, reflecting productivity gains and cost management [21][22] Business Line Data and Key Metrics Changes - Protein Sciences segment reported sales of $215.1 million, with organic revenue declining 1% but benefiting from foreign exchange [23] - Diagnostics and spatial biology segment sales were $81.2 million, down 4% year-over-year, with organic growth of 3% after accounting for divestitures [25] - Core reagents and assays delivered low double-digit growth, while proteomic analytical tools grew upper single digits [15][24] Market Data and Key Metrics Changes - Revenue from large pharma customers increased low double digits for the fourth consecutive quarter, while emerging biotech declined mid-single digits [9][20] - U.S. academic business saw a modest decline, partially offset by stable growth in Europe, resulting in a low single-digit decline overall for this end market [10] - China experienced mid-single-digit growth, marking its third consecutive quarter of growth, supported by R&D investments [10][20] Company Strategy and Development Direction - The company focuses on four strategic growth verticals: cell therapy, proteomic analytical instrumentation, spatial biology, and precision diagnostic tools, which now represent 47% of total revenue [7] - The company is committed to maintaining a strong profitability profile while investing in strategic growth initiatives [6][18] - The upcoming fiscal year 2026 is significant as the company celebrates its 50th anniversary, with plans for various events [7] Management's Comments on Operating Environment and Future Outlook - Management noted that the operating environment is stabilizing but still challenging, with funding uncertainty affecting customer behavior in emerging biotech and U.S. academia [18] - There is optimism regarding the rebound in biotech funding and favorable U.S. appropriation bills, which are expected to support gradual improvement in end markets [18][19] - The company anticipates that headwinds from FDA Fast Track designations will moderate, allowing for improved growth in the future [26] Other Important Information - The company is actively pursuing M&A opportunities, with a focus on enhancing capabilities in cell therapy and proteomic analysis [81] - The acquisition of Wilson Wolf is on track, with expectations to complete it by the end of calendar year 2027 [13][81] Q&A Session Summary Question: Growth cadence and expectations for fiscal year 2026 - Management confirmed that underlying growth, excluding specific customer impacts, is expected to be mid-single digits for the year [30][32] Question: Drivers of gross margin trends - Management explained that gross margin pressures were due to unfavorable product mix and customer profiles, but improvements are expected in the latter half of the year [34][41] Question: Impact of AI on biotech demand - Management believes AI will enhance customer capabilities and drive demand for more complex materials, benefiting the company [42][45] Question: Biotech funding and timing of revenue impact - Management indicated that funding improvements typically show a six-month lag in revenue impact, with positive trends expected to continue [60][62] Question: Cell therapy customer impacts on GMP business - Management noted that the two large customers' Fast Track designations have created a temporary headwind, but underlying growth in the cell therapy business remains strong [64][66]

IDEX (NYSE:IEX) Q4 2025 Earnings call February 04, 2026 09:00 AM ET Company ParticipantsEric Ashleman - President and CEOJim Giannakouros - VP of Investor RelationsRob Wertheimer - Founding Partner and Director of ResearchSean Gillen - CFOConference Call ParticipantsAndrew Buscaglia - Senior Equity Research AnalystBryan Blair - Managing Director and Senior Equity Research AnalystDeane Dray - Managing Director and Senior Equity AnalystJoe Giordano - Managing Director and Senior Equity Research AnalystMatt Su ...

Financial Data and Key Metrics Changes - The company reported a fiscal 2026 first quarter net income of $403 million, or $2.44 per diluted share, representing a 9.4% increase over the prior year quarter [4][10] - First quarter capital expenditures totaled $1 billion, with over 85% focused on enhancing safety and reliability [4][10] - The rebased fiscal 2026 earnings per share guidance is in the range of $8.15-$8.35 per share [4][14] Business Line Data and Key Metrics Changes - The Atmos Pipeline-Texas division achieved several project milestones, including the installation of approximately 55 miles of pipeline and enhancements to the Bethel Salt Dome storage facility [5][6] - APT's through system revenues, net of Rider REV, increased by about $7 million, although through system volumes declined 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 approximately 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, with a capital spending plan of $4.2 billion [4][14] - The company is actively engaging in regulatory discussions regarding affordability and reliability, emphasizing the importance of investments for system performance [32][33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to manage the impacts of Winter Storm Fern, noting minimal supply issues and effective gas supply planning [23][24] - The company remains on track to achieve its fiscal 2026 earnings guidance and is evaluating future needs for gas supply and storage based on customer growth [14][54] Other Important Information - The company completed over $1 billion of long-term debt and equity financing, with $600 million in long-term debt financing completed in October 2025 [12][13] - The company has $4.6 billion in available liquidity, including net proceeds from existing forward sale agreements [13][14] Q&A Session Summary Question: Discussion on the $35 million benefit for the quarter - Management indicated that the impact of the deferrals under House Bill 4384 will depend on spending timing and operational activities, maintaining guidance of $8.15-$8.35 per share [16][17] Question: Financial impacts from Winter Storm Fern - Management noted that the storm's impact was less severe than previous events, with effective gas supply planning mitigating potential issues [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 and safety [31][32] Question: Opportunities in gas power projects - Management acknowledged ongoing inquiries regarding large loads and power generation but emphasized the need for signed contracts before making announcements [34] Question: Impact of recent political changes in Texas - Management stated that the company remains apolitical and will work with all stakeholders to emphasize the importance of natural gas for communities [38] Question: Mississippi rate case outcome - Management confirmed that the outcome will not adjust the overall investment plan, which focuses on safety and reliability [39][40]

Corteva (NYSE:CTVA) Q4 2025 Earnings call February 04, 2026 09:00 AM ET Speaker6Thank 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 Corteva Agriscience 4Q2025 earnings. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. If you would like to ask a question during this time, simply press star followed by the number 1 on your telephon ...

Financial Data and Key Metrics Changes - The company reported Q4 revenue of $801 million, slightly above the midpoint of guidance and a 1.3% increase from Q3 [4] - Revenue increased by 12% compared to Q4 2024, driven by an 11% increase in volume and a favorable foreign currency impact of 3% [18] - Gross profit was $157 million, resulting in a gross margin of 19.6%, which is modestly above both the midpoint of guidance and Q3 [18][19] - GAAP earnings per share was $0.01, compared to a loss of $0.06 in Q3 and a loss of $0.49 in Q4 2024 [20] Business Line Data and Key Metrics Changes - Automotive revenue decreased by 3.4% versus Q3, while Asia automotive revenue grew in a seasonally strong quarter [9] - Industrial power revenue increased by 3.2%, driven by shipments of high voltage DC power capacitors and inventory replenishment [10] - Aerospace and defense revenue was slightly down by 1.2%, reflecting U.S. government shutdown impacts [12] - Healthcare revenue was flat compared to Q3, with Europe experiencing its strongest quarter in three years [13] - Other category revenue grew by 10.6%, primarily due to AI power management applications [13] Market Data and Key Metrics Changes - Revenue growth for the quarter came entirely from Asia, which grew by 3.6%, while the Americas and Europe were flat due to year-end holiday slowdowns [16] - Book-to-bill ratio was 1.2, indicating strong order growth across all regions and channels [7] - Backlog at quarter end was $1.3 billion, representing 4.9 months of supply [8] Company Strategy and Development Direction - The company is executing a five-year strategic plan aimed at driving faster revenue growth and enhancing capital returns [28] - Significant investments are being made in capacity expansion, particularly at the 12-inch fab, with expected CapEx of $400 million to $440 million in 2026 [28][29] - The company is focusing on innovation, including the release of new products and solutions, particularly in silicon carbide technology for automotive applications [30][31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining competitive lead times and securing customer trust, positioning the company for revenue growth in 2026 [32] - The company anticipates continued demand in key growth segments, with customer program visibility improving [32] - Management expects revenue for Q1 2026 to be between $800 million and $830 million, with sequential increases in all key growth segments [25] Other Important Information - The company generated $149 million in operating cash for Q4, with total CapEx for the quarter at $95 million [22] - The cash conversion cycle improved to 125 days, down from 130 days in Q3 [22] - The company plans to maintain its dividend policy, returning at least 70% of free cash flow to shareholders [27] Q&A Session Summary Question: What is the current view on industry growth expectations? - Management maintains a view of mid to high single-digit growth across key segments, including industrial power and automotive [35][36] Question: How are gross margins expected to trend? - Management indicated that annual contractual negotiations have resulted in less historical ASP decline, with price increases implemented due to higher material costs [38][39] Question: What is the outlook for automotive demand? - Management noted gains in market share and increasing volumes, particularly in technology areas such as electrification and ADAS [44][45] Question: Can you elaborate on CapEx and OpEx plans? - Management outlined a CapEx plan of $400 million to $440 million for 2026, focusing on capacity expansion and targeted projects [54][55] Question: Is M&A being considered? - Management confirmed that M&A is always on the table, with a focus on optimizing the company's footprint and exploring opportunities in both passive and active segments [62]

Brandywine Realty Trust (NYSE:BDN) Q4 2025 Earnings call February 04, 2026 09:00 AM ET Speaker5Thank you for standing by, and welcome to the Brandywine Realty Trust Fourth Quarter 2025 Earnings Conference Call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you'll need to press star one one on your telephone. If your question has been answered and you'd like to remove yourself from t ...

Matthews International (NasdaqGS:MATW) Q1 2026 Earnings call February 04, 2026 09:00 AM ET Speaker6Good day, everyone, and welcome to the Matthews International First Quarter Fiscal 2026 financial results. At this time, all participants are in a listen-only mode. Later, you will have the opportunity to ask questions during the question-and-answer session. You may register to ask a question at any time by pressing the star and one on your telephone keypad. You may withdraw yourself from the queue by pressing ...

Financial Data and Key Metrics Changes - AbbVie reported full-year adjusted earnings per share of $10, exceeding initial guidance by $0.54, and total net revenues of $61.2 billion, surpassing guidance by over $2 billion [4][5] - 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 [5][6] - Adjusted earnings per share for Q4 were $2.71, $0.08 above guidance midpoint, with total net revenues of $16.6 billion reflecting robust growth of 10% [33][34] Business Line Data and Key Metrics Changes - Immunology revenues reached approximately $8.6 billion in Q4, 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 Q4 revenues of over $2.9 billion (17.3% operational growth), driven by Vraylar and Botox Therapeutic [17][18] - Oncology revenues were nearly $1.7 billion in Q4, down 2.5% operationally, with Venclexta sales of $710 million (6.4% operational growth) [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's performance [13] - Humira delivered global sales of over $1.2 billion, down 26.1% operationally due to biosimilar competition [17] - The aesthetics segment saw global sales of nearly $1.3 billion in Q4, down 1.2% operationally, with Botox Cosmetic revenues of $717 million (3.8% operational growth) [20][21] Company Strategy and Development Direction - AbbVie plans to deliver total sales growth of 9.5% in 2026, driven by Skyrizi and Rinvoq, with combined sales expected to exceed $31 billion [6][7] - The company is focused on advancing its pipeline with significant investments in R&D, including over $5 billion in new business development [5][6] - 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] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in AbbVie's strong position to deliver high single-digit revenue growth through 2029, despite headwinds from Humira erosion and Imbruvica pricing [6][9] - The company anticipates key catalysts in R&D across immunology, neuroscience, and oncology over the next 24 months [8][9] - Management highlighted the potential for sustained long-term growth driven by innovative therapies and strategic acquisitions [9][10] Other Important Information - AbbVie increased adjusted R&D expense by nearly $1 billion in 2025, fully funding 90 clinical programs currently in development [5][6] - The company expects to generate free cash flow of approximately $18.5 billion in 2026, supporting a strong and growing quarterly dividend [39][40] Q&A Session Summary Question: Details on the psychedelic therapy in development - Management highlighted the potential of the psychedelic therapy to provide immediate efficacy with a short-acting profile, aiming for a breakthrough in treatment [41][42] Question: Insights on Skyrizi in IBD and market expectations - Management confirmed stable new patient starts for Skyrizi in both Crohn's and UC, with high capture rates despite competition [44][46] - They expressed confidence in the long-term growth potential for Skyrizi and Rinvoq, indicating that current market models may not fully reflect this upside [48][49] Question: Update on external innovation and business development - AbbVie has invested over $8 billion in external innovation, focusing on early-stage opportunities to drive growth in immunology, neuroscience, and oncology [52][54] Question: Expectations for Rinvoq and Lutikizumab phase 3 data - Management emphasized the importance of upcoming studies for Rinvoq and Lutikizumab, particularly in treatment failure populations, and expressed optimism based on previous performance [55][56]

Valvoline (NYSE:VVV) Q1 2026 Earnings call February 04, 2026 09:00 AM ET Speaker5Thank you all for your patience. The conference call titled "Valvoline's First Quarter Fiscal 2026 Conference Call and Webcast" will begin shortly. During the presentation, you will have the opportunity to ask a question by pressing star followed by the number 1 on your telephone keypads. Again, please stand by and we will begin in a few minutes.Hello everyone and welcome to the Valvoline's First Quarter Fiscal 2026 Conference ...