Principal Financial Group (NasdaqGS:PFG) Q4 2025 Earnings call February 10, 2026 10:00 AM ET Speaker7Morning and welcome to the Principal Financial Group 4th Quarter 2025 Financial Results and 2026 Outlook Conference Call. There will be a question and answer period after the speakers have completed their prepared remarks. To ask a question during the session, you will need to press star 11 on your telephone. To withdraw your question, please press star 11 again. We would ask that you be respectful of others ...

The Bank of N.T. Butterfield & Son (NYSE:NTB) Q4 2025 Earnings call February 10, 2026 10:00 AM ET Speaker5Good day, and welcome to the Butterfield Fourth Quarter 2025 Earnings Conference Call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on your touchtone phone, and to withdra ...

GCM Grosvenor (NasdaqGM:GCMG) Q4 2025 Earnings call February 10, 2026 10:00 AM ET Speaker6Good day and welcome to the GCM Grosvenor 4th Quarter and Full Year 2025 Results webcast. Later we will conduct a question and answer session. If you are interested in asking a question, please ensure you dial in using the numbers you have been provided for this call and press star one on your keypad to join the queue. If anyone should require operator assistance, please press star then zero on your telephone. As a rem ...

Financial Data and Key Metrics Changes - The company generated $1.1 billion of after-tax operating income in Q4 2025, a 26% increase from Q4 2024 [4] - The full year 2025 produced $3.7 billion of after-tax operating income, resulting in after-tax operating earnings per share of $9.84 and a 17.1% annualized operating return on average common equity [4] - Book value per share increased by 22.6% in 2025, with a compound annual growth rate exceeding 15% since inception [5] Business Line Data and Key Metrics Changes - The insurance group delivered $119 million of underwriting income in Q4 2025, with a combined ratio of 90.8% [6] - Gross premiums written in the insurance segment increased by 2% from Q4 2024, while net premiums written declined year-over-year [6][14] - The reinsurance segment achieved a record $1.6 billion of underwriting income for the year, with a combined ratio of 74.9% in Q4 2025 [9] - The mortgage segment produced $1 billion of underwriting income for the year, maintaining strong performance [10][16] Market Data and Key Metrics Changes - In North America, the company continues to grow in specialty casualty lines, while international pricing is tracking slightly below loss trends [8] - The rate environment in North America is largely keeping pace with loss-cost trends, while competition is increasing in several lines of business [5][8] Company Strategy and Development Direction - The company emphasizes a diversified business model and disciplined risk selection as key differentiators in a competitive market [5] - The Arch Playbook remains a valid strategy for navigating the evolving market conditions [5] - The company aims to maximize long-term shareholder value through share buybacks and disciplined capital management [4][20] Management's Comments on Operating Environment and Future Outlook - Management expressed measured optimism heading into 2026, acknowledging increased competition but confidence in the company's ability to deliver strong returns [5] - The company is focused on maintaining underwriting discipline and adapting to changing market conditions [11] - Management highlighted the importance of leveraging data and analytics for improved risk selection [11] Other Important Information - The company recognized a full-year effect of the Bermuda Tax Credits Act 2025, impacting financial results positively [17][18] - The effective tax rate for 2025 was 14.9%, with expectations to return to the 16%-18% range in 2026 [19] Q&A Session Summary Question: Opportunities in property cat reinsurance - Management clarified that opportunities mentioned were not in property cat but in other geographies and specialty lines [23] Question: Capital management and buyback pace - Management indicated that share buybacks would depend on market conditions and stock price, with expectations to remain active throughout the year [24] Question: MCE re-underwriting impact - Management noted that the re-underwriting would impact top line in 2026, with no significant seasonality expected [25] Question: Casualty reinsurance market conditions - Management acknowledged that margins are under pressure but expressed optimism about the business due to a diversified platform [42][44] Question: Demand for casualty reinsurance - Management indicated that while there is stable demand, the willingness of cedents to retain more business has added to competition [52] Question: Impact of Bermuda tax credits on expenses - Management stated that the Bermuda tax credits would benefit the expense ratio but did not expect significant changes in other expense items [93]

Barclays (NYSE:BCS) Q4 2025 Earnings call February 10, 2026 09:30 AM ET Company ParticipantsAnna Cross - Group Finance DirectorDan Fairclough - Group TreasurerGildas Surry - Managing DirectorLee Street - VPPaul Fenner-Leitão - Managing Director and Head of Financials Credit ResearchRobert Smalley - Managing DirectorConference Call ParticipantsDaniel David - Director and Senior AnalystOperatorWelcome to Barclays' full-year 2025 fixed income conference call. I'll now hand over to Anna Cross, Group Finance Dir ...

Barclays (NYSE:BCS) Q4 2025 Earnings call February 10, 2026 09:30 AM ET Company ParticipantsAnna Cross - Group Finance DirectorDan Fairclough - Group TreasurerGildas Surry - Managing DirectorLee Street - VPPaul Fenner-Leitão - Managing Director and Head of Financials Credit ResearchRobert Smalley - Managing DirectorConference Call ParticipantsDaniel David - Director and Senior AnalystOperatorWelcome to Barclays' full-year 2025 fixed income conference call. I'll now hand over to Anna Cross, Group Finance Dir ...

Financial Performance - Barclays achieved a return on tangible equity (RoTE) of 11.3% and top-line income grew by 9% year-on-year to GBP 29.1 billion [2][3] - The cost-income ratio improved to 61%, and the group loan loss rate was 52 basis points, within the 50-60 basis points guidance [2][3] - The CET1 ratio ended the year at 14.3%, with a GBP 1 billion share buyback and a GBP 800 million final dividend [7][8] Business Lines and Key Metrics - The investment bank's risk-weighted assets (RWAs) are expected to remain stable at around GBP 200 billion, with a target to reduce investment bank RWAs as a percentage of the group to approximately 50% by 2028 [5][6] - The structural hedge contributed significantly to net interest income (NII), with gross structural hedge income increasing by GBP 1.2 billion to GBP 5.9 billion, accounting for 46% of 2025 group NII [12][13] Market Data and Key Metrics - The deposit base increased by GBP 25 billion across customer segments, with strong corporate growth in the International Corporate Bank and retail deposits in both UK and US markets [12][13] - The average liquidity coverage ratio (LCR) was 170%, representing GBP 131 billion in excess of regulatory requirements [12] Company Strategy and Industry Competition - Barclays is focused on sustainable higher returns, with plans to achieve a RoTE greater than 12% in 2026 and over 14% by 2028, supported by stable income streams from retail and corporate businesses [4][5] - The company is actively engaging in digital assets and tokenization, aiming to leverage technology to enhance client services and bridge developments between the US and UK [14][15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering strong financial results and maintaining a robust capital position, while also emphasizing the importance of regulatory clarity in future capital planning [6][25][47] - The company is committed to disciplined capital allocation, prioritizing regulatory capital, shareholder distributions, and selective investments [6][25] Other Important Information - Barclays is participating in the Sterling Tokenized Deposits pilot phase, exploring the potential of digital assets to transform financial services [14][15][16] - The company aims for its senior ratings to qualify as single A composite across all indices, indicating a focus on improving credit ratings [17] Q&A Session Summary Question: Appetite for Inorganic Growth - Management highlighted recent transactions that align with strategic goals, emphasizing the importance of price and integration complexity in future inorganic growth opportunities [20][21][24] Question: Structural Hedge Balances - Management confirmed the successful reinvestment of structural hedge balances and discussed the balance between commercial outcomes and protecting hedgeable balances [26][27] Question: SRT Constraints - Management explained that SRTs are viewed as a risk management tool, with a focus on maintaining appropriate hedge ratios across the portfolio [27][30] Question: Tier 2 Issuance - Management indicated that while there is a Tier 2 call coming up, issuance will be limited, reflecting a disciplined approach to capital management [32][34] Question: Ratings and Upgrades - Management expressed optimism about potential ratings upgrades, citing improved credit profiles and ongoing dialogue with rating agencies [33][35] Question: Private Credit Partnerships - Management acknowledged the success of private credit partnerships but noted they are not material to the overall business [62]

LiveWire Group (NYSE:LVWR) Q4 2025 Earnings call February 10, 2026 09:00 AM ET Company ParticipantsArtie Starrs - CEOJonathan Root - CFOShawn Collins - Director of Investor RelationsConference Call ParticipantsBrandon Rolle - AnalystCraig R. Kennison - AnalystJaime M. Katz - AnalystNoah Zatzkin - AnalystRobin Margaret Farley - AnalystTristan Thomas - AnalystOperatorThank you for standing by, and welcome to the Harley-Davidson 2025 fourth quarter investor and analyst conference call. Please be advised that t ...

Xylem (NYSE:XYL) Q4 2025 Earnings call February 10, 2026 09:00 AM ET Company ParticipantsAndy Kaplowitz - Managing DirectorBill Grogan - CFODeane Dray - Managing DirectorKeith Buettner - VP of Investor Relations and FP&AMatthew Pine - CEONathan Jones - Managing DirectorScott Davis - Founding Partner of Multi-Industry ResearchConference Call ParticipantsMike Halloran - Senior Research AnalystWilliam Griffin - Director and Senior AnalystNone - AnalystOperatorGood day, everyone, and welcome to Xylem's fourth q ...

LiveWire Group (NYSE:LVWR) Q4 2025 Earnings call February 10, 2026 09:00 AM ET Company ParticipantsArtie Starrs - CEOJonathan Root - CFOShawn Collins - Director of Investor RelationsConference Call ParticipantsBrandon Rolle - AnalystCraig R. Kennison - AnalystJaime M. Katz - AnalystJames Hardiman - AnalystNoah Zatzkin - AnalystRobin Margaret Farley - AnalystTristan Thomas - AnalystOperatorThank you for standing by, and welcome to the Harley-Davidson 2025 Q4 investor and analyst conference call. Please be ad ...