AMERISAFE (NasdaqGS:AMSF) Q4 2025 Earnings call February 26, 2026 10:30 AM ET Company ParticipantsJanelle Frost - President and CEOKathryn Shirley - EVP, Chief Administrative Officer and SecretaryVincent J. Gagliano - EVP and Chief Risk OfficerConference Call ParticipantsMark Hughes - Director and Equity Research AnalystMatt Carletti - Managing Director and Equity Research AnalystRobert Farnam - Equity Research AnalystOperatorGood day. Welcome to AMERISAFE's Fourth Quarter 2025 earnings call. Today's confer ...

EMCOR Group (NYSE:EME) Q4 2025 Earnings call February 26, 2026 10:30 AM ET Company ParticipantsAdam Bubes - VP of Equity ResearchAdam Thalhimer - Director of ResearchAvi Jaroslawicz - Director of Equity ResearchBrian Brophy - Director of Equity ResearchJason Nalbandian - SVP and CFOLucas Sullivan - Director of Financial Planning and AnalysisTony Guzzi - Chairman, President, and CEOConference Call ParticipantsBrent Thielman - Managing Director and Senior Research AnalystJustin Hauke - Senior Research Analyst ...

US Physical Therapy (NYSE:USPH) Q4 2025 Earnings call February 26, 2026 10:30 AM ET Company ParticipantsCarey Hendrickson - CFOChris Reading - Chairman and CEOConstantine Davides - Managing DirectorJason Curtis - SVP of Finance and AccountingConference Call ParticipantsJack Slevin - VP and Equity Research AnalystLarry Solow - Managing Director, Partner, and Senior Equity AnalystMike Petusky - Managing Director and Senior Investment AnalystNone - AnalystOperatorGood day. Thank you for standing by. Welcome to ...

TETRA Technologies (NYSE:TTI) Q4 2025 Earnings call February 26, 2026 10:30 AM ET Speaker7Hello, thank you for standing by. My name is Tiffany, I will be your conference operator today. At this time, I would like to welcome everyone to the TETRA Technologies, Inc. 4Q 2025 and full year 2025 earnings conference call. 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 that time ...

EMCOR Group (NYSE:EME) Q4 2025 Earnings call February 26, 2026 10:30 AM ET Speaker8Good morning. My name is Jamie, and I will be your conference operator today. At this time, I would like to welcome everyone to the EMCOR Group fourth quarter and full year 2025 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker's prepared remarks, there will be a question-and-answer session. If you would like to ask a question during this time, simply press star an ...

Financial Data and Key Metrics Changes - The company reported a strong return on equity (ROE) of 18.5% and a combined ratio of 91.3% for Q4 2025, indicating solid performance in a competitive environment [4] - Net income for Q4 2025 was $10.4 million, or $0.55 per diluted share, while operating net income was $9.8 million, or $0.51 per diluted share [11] - For the full year, net income was $47.1 million, down from $55.4 million in 2024, and net operating income was $41.8 million, compared to $48.4 million in 2024 [11] Business Line Data and Key Metrics Changes - Gross premium written (GPW) grew by 11.7% in Q4 2025, compared to 3.9% growth in Q4 2024, marking the seventh consecutive quarter of top-line growth [5] - Voluntary premium, a primary component of GPW, increased by 10.5% in Q4 and 10.2% for the full year, compared to 4.6% in 2024 [5] - The in-force policy count increased by 10.2% for the year, supported by strong renewal retention of 93.7% for the quarter [6] Market Data and Key Metrics Changes - Payroll growth in the company's classes of business was positive, with wage growth at 6.1% in Q4, contributing to premium growth [7] - The average rate of decline in filed rates is expected to be in the negative mid-single-digit range for 2026 [8] Company Strategy and Development Direction - The company focuses on specialized underwriting for niche industries and emphasizes safety services and personalized claims management to maintain underwriting profitability [4] - The growth strategy includes deepening relationships with targeted agents and enhancing operational efficiency, which has led to increased new business opportunities [5][6] Management's Comments on Operating Environment and Future Outlook - Management noted that the company is in a prolonged soft market with 12 consecutive years of rate decline, making risk understanding and claims management essential for profitability [4] - The company anticipates continued pressure on loss ratios due to increased claim severity and frequency, with a current accident year loss ratio of 72% [9][40] Other Important Information - The investment portfolio's net investment income increased by 2.5% to $77.1 million in Q4, while it decreased by 7.6% to $27 million for the full year [11][12] - The company maintains a strong capital position with approximately $797 million in cash and invested assets [13] Q&A Session Summary Question: Observations on frequency and severity of claims - Management reported a 7.8% increase in reported claims in 2025, with frequency consistent with expectations [17][20] Question: Insights on growth areas - Growth is broad-based across the book, with no significant shifts in industry classes or geographical distribution [25][28] Question: Favorable development in claims - Favorable development was attributed to claims closures and settlements, not related to frequency and severity issues [31][53] Question: Medical inflation observations - Medical inflation remains a concern, particularly in home health and prosthetics, with no signs of easing [61][62] Question: Impact of undocumented workers on claims - No significant changes in claims patterns due to undocumented workers have been observed [73][74]

Loar Holdings (NYSE:LOAR) Q4 2025 Earnings call February 26, 2026 10:30 AM ET Speaker1Greetings, welcome to Loar Q4 and full year 2025 earnings call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone requires operator assistance during the conference, please press star 0 on your telephone keypad. As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Ian McKillop, Direct ...

US Physical Therapy (NYSE:USPH) Q4 2025 Earnings call February 26, 2026 10:30 AM ET Speaker7Good day. Thank you for standing by. Welcome to the U.S. Physical Therapy fourth quarter 2025 and full year earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. In order to ask a question during the session, please press the star key followed by 1 on your telephone. Please be advised that today's call is bein ...

Service Properties Trust (NasdaqGS:SVC) Q4 2025 Earnings call February 26, 2026 10:00 AM ET Company ParticipantsBrian Donley - Treasurer and CFOChris Bilotto - President and CEOJesse Abair - VPKevin Barry - Senior Director of Investor RelationsConference Call ParticipantsJack Armstrong - Director and Senior Equity AnalystJohn Massocca - Senior Research AnalystTyler Batory - Executive Director and Senior AnalystOperatorGood morning, welcome to the Service Properties Trust Fourth Quarter 2025 Earnings Confere ...

Financial Data and Key Metrics Changes - The company reported record operating cash flow, adjusted EBITDAX, production, and oil volumes for 2025, with oil comprising 53% of total production [3][4] - Net debt was reduced by $437 million, resulting in a leverage ratio of approximately 1 times at year-end [4] - A total of $104 million was returned to stockholders through dividends and share repurchases [4] Business Line Data and Key Metrics Changes - The company plans to allocate about 45% of its capital investments to high-margin Permian activities, with total expected CapEx for 2026 being approximately 14% lower than pro forma 2025 [7] - Production volumes in the second half of 2026 are expected to range between 420,000 and 430,000 BOE per day, with 55% oil [7][8] Market Data and Key Metrics Changes - The company anticipates operating in a $60 oil and $3.50 gas environment for its 2026 plan [7] - The merger with Civitas is expected to unlock up to $1.5 billion in present value synergies, representing nearly 30% of the company's market cap [5] Company Strategy and Development Direction - The company has three strategic objectives for 2026: integrate, execute, and bolster [5][8] - The integration of Civitas is progressing well, with $185 million of the targeted $200 million-$300 million in synergies already actioned [5][88] - The focus is on maximizing sustainable free cash flow and strengthening the balance sheet while returning capital to stockholders [5][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to maximize free cash flow and reduce debt, emphasizing a safety-first mindset in operations [5][12] - The company is focused on capital efficiency and optimizing its asset development to enhance returns [5][12] Other Important Information - The company announced a 10% increase in the fixed dividend to $0.88 per share annually, providing a current yield of just under 4% [12] - Remaining free cash flow will be allocated 80% to debt reduction and 20% to stock repurchases [12] Q&A Session Summary Question: Total production guidance for the year and impact of three-stream to two-stream conversions - Management clarified that the production change is not significantly different when normalized for moving items, with specific allocations for NGLs in different basins [18][19] Question: Capital expenditure and rig count throughout the year - Management confirmed that the first quarter will see higher CapEx due to starting with 15 rigs, which will decrease to an average of 11 rigs by year-end [22][23] Question: Leverage profile and inventory life considerations - Management stated that they are comfortable with a leverage ratio in the mid-ones area and are focused on improving inventory life through high-quality locations [30][32] Question: Composition of the Permian program and activity split - Management indicated that the program will allocate about one-third to Delaware and two-thirds to Midland Basin, with ongoing optimization efforts [55] Question: Production growth expectations in various areas - Management noted that Uinta and South Texas are expected to be growth areas, while the focus remains on maximizing free cash flow across the portfolio [71] Question: Decision to increase the dividend - Management emphasized that the increase was based on confidence in the company's future and not due to investor pressure [73]