1,673 material Form 8-K filings that 1,260 companies we cover made with the SEC in February 2026, each read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). All of them were written later, when past filings were added: a selection, not every 8-K of the month (see the note below).
EPAM reported fourth-quarter and full-year 2025 results on February 19, 2026. Revenue grew in both periods, but full-year GAAP diluted EPS fell to $6.72 from $7.84, while non-GAAP diluted EPS rose 5.9% to $11.50. The company also gave 2026 guidance of $7.95 to $8.25 GAAP diluted EPS and $12.60 to $12.90 non-GAAP diluted EPS.
Q4 2025 revenue was $1.408 billion, up 12.8% year over year; Q4 GAAP diluted EPS was $1.98, up 10.0%.
Full-year 2025 revenue was $5.457 billion, up 15.4%, but GAAP income from operations fell 4.5% to $520.0 million.
2026 guidance: revenue growth of 4.5% to 7.5%, GAAP diluted EPS of $7.95 to $8.25, and non-GAAP diluted EPS of $12.60 to $12.90.
Share repurchases totaled $660.6 million in 2025, with $776.5 million remaining under the authorization as of December 31, 2025.
Kadant reported fourth-quarter 2025 revenue up 11% to a record $286.2 million, with GAAP EPS flat at $2.04. For fiscal 2025, revenue was $1.05 billion, roughly flat, while net income fell 9% to $102.0 million and GAAP EPS fell 9% to $8.65. The company expects 2026 revenue of $1.160 billion to $1.185 billion and GAAP EPS of $10.27 to $10.62.
Q4 2025 revenue of $286.2 million rose 11%, including an 8% contribution from acquisitions; Q4 net income was $24.0 million, and GAAP EPS was $2.04 in both periods.
Fiscal 2025 net income was $102.0 million, down 9%; adjusted EPS was $9.26, down 10%.
2026 guidance: revenue of $1.160 to $1.185 billion and GAAP EPS of $10.27 to $10.62; first-quarter 2026 revenue of $270 to $280 million.
Webcast to discuss results is scheduled for February 19, 2026, at 11:00 a.m. Eastern Time.
Oceaneering reported fourth-quarter 2025 revenue of $669 million, down 6% from a year earlier, and adjusted EBITDA of $90.5 million, down 11%. GAAP net income rose 217% to $178 million, but that increase reflects a discrete tax benefit. For the full year, revenue rose 5% to $2.8 billion and net income rose 140% to $354 million, and the company issued 2026 guidance for net income of $178 million to $203 million.
Q4 2025 adjusted EBITDA was $90.5 million, down 11%; Q4 revenue was $669 million, down 6%.
Q4 GAAP net income was $178 million, up 217%, which included a discrete tax benefit from releasing valuation allowances.
Full-year 2025 revenue was $2.8 billion, up 5%, and adjusted EBITDA was $401 million, up 16%.
2026 guidance: net income of $178 million to $203 million, consolidated EBITDA of $390 million to $440 million, and free cash flow of $100 million to $120 million.
CF Industries reported higher fourth-quarter and full-year 2025 results compared with 2024, with net sales, net earnings and adjusted EBITDA all up. The filing furnishes a results presentation and says the company will discuss the results on a conference call on February 19, 2026.
Q4 2025 net earnings attributable to common stockholders were $404 million, up from $328 million in Q4 2024; diluted EPS was $2.59 versus $1.89.
Q4 2025 adjusted EBITDA was $821 million, up from $562 million; Q4 net sales were $1,872 million versus $1,524 million.
Full-year 2025 net earnings were $1,455 million ($8.97 per diluted share), up from $1,218 million ($6.74) in 2024; full-year adjusted EBITDA was $2,893 million versus $2,284 million.
CF Industries reported full-year 2025 net earnings of $1.46 billion, or $8.97 per diluted share, compared with $1.22 billion, or $6.74 per share, in 2024, on net sales of $7.08 billion versus $5.94 billion. Fourth-quarter 2025 net earnings were $404 million, or $2.59 per share, up from $328 million a year earlier. The company also said it expects 2026 ammonia production of about 9.5 million tons due to an outage at its Yazoo City complex.
Full-year 2025 net earnings of $1.46 billion ($8.97 per diluted share) versus $1.22 billion ($6.74) in 2024
Fourth-quarter 2025 net earnings of $404 million ($2.59 per diluted share) versus $328 million ($1.89) a year earlier
Repurchased 16.6 million shares for $1.34 billion in 2025; $1.7 billion remains under the program, which expires in December 2029
Yazoo City outage not expected to resume production until the fourth quarter of 2026 at the earliest
Coeur Mining reported fourth-quarter and full-year 2025 results on February 18, 2026, and gave 2026 production guidance for its current portfolio. Full-year revenue was $2.1 billion, up from $1.1 billion in 2024, and GAAP net income from continuing operations was $586 million, or $0.95 per share. The filing also names two board nominees tied to the pending New Gold acquisition, which is expected to close in the first half of 2026, and reports a director resignation effective February 16, 2026.
Q4 2025 revenue was $675 million versus $305 million in Q4 2024; GAAP net income from continuing operations was $215 million, or $0.29 per share.
2026 guidance for current assets: 390,000 to 460,000 ounces of gold and 18.2 to 21.3 million ounces of silver.
Patrick Godin, New Gold's CEO, and Marilyn Schonberner were approved for the Coeur board, effective only if the New Gold transaction closes.
Director N. Eric Fier resigned effective February 16, 2026, to focus on other business ventures.
Kaiser Aluminum reported preliminary fourth-quarter and full-year 2025 results, with Q4 net sales of $929 million, up about 21% year over year, and full-year net sales of $3.37 billion, up about 12%. Full-year net income was $113 million, or $6.77 per diluted share, and the company guided to 2026 Adjusted EBITDA growth of 5% to 15%, which matters to shareholders because it sets the company's outlook for the year ahead.
Q4 2025 net income was $28 million, or $1.68 per diluted share, versus $1.21 a year earlier
Full-year 2025 Adjusted EBITDA was $310 million, with an Adjusted EBITDA margin of 21.3%
Full-year 2025 shipments fell 5%, driven by commercial aerospace destocking and the Trentwood planned outage
For 2026, the company expects Conversion Revenue to rise 5% to 10% and Adjusted EBITDA to rise 5% to 15%
American States Water reported fourth-quarter 2025 diluted EPS of $0.74, down $0.01 from $0.75 a year earlier, while full-year 2025 diluted EPS rose to $3.37 from $3.17. Fourth-quarter operating revenues rose to $164.3 million from $143.1 million, and the company said adjusted EPS, which excludes prior-year one-time items, increased $0.18 per share in the quarter.
Q4 2025 diluted EPS was $0.74 versus $0.75 in Q4 2024; excluding prior-year one-time items, adjusted EPS rose $0.18 per share.
Full-year 2025 diluted EPS was $3.37 versus $3.17 in 2024, an increase of $0.20 per share, or 6.3%.
Q4 2025 operating revenues were $164.3 million versus $143.1 million; full-year revenues were $658.1 million versus $595.5 million.
The company plans to invest $185 to $225 million in 2026 and declared a first-quarter 2026 dividend of $0.5040 per share, payable March 5, 2026.
American Water reported fourth-quarter 2025 adjusted earnings of $1.24 per share, up from $1.15 a year earlier, and full-year adjusted earnings of $5.64 per share, up from $5.18. The company affirmed its 2026 adjusted EPS guidance of $6.02 to $6.12 and its 7-9% long-term EPS and dividend growth targets, which exclude pending merger transaction costs and weather effects. Full-year GAAP diluted EPS was $5.69, compared with $5.39 in 2024.
Full-year 2025 operating revenues were $5,140 million, up from $4,684 million in 2024; fourth-quarter revenues were $1,271 million, up from $1,201 million.
Fourth-quarter 2025 GAAP diluted EPS was $1.22, flat with the prior-year quarter; full-year GAAP net income was $1,111 million, up from $1,051 million.
The company invested $3.2 billion in capital in 2025 and repaid the $795 million HOS secured seller note in full on February 13, 2026.
Shareholders of American Water and Essential Utilities approved the pending merger proposals on February 10, 2026.
Host Hotels & Resorts reported fourth-quarter 2025 net income of $137 million, up 25.7%, and diluted earnings per share of $0.20 versus $0.15 a year earlier. For full year 2025, net income rose 9.8% to $776 million and diluted EPS was $1.10 versus $0.99. The company guided 2026 diluted EPS to $1.19 to $1.27, but GAAP total revenue guidance of a 1.4% decline to a 0.1% increase reflects the hotel sales it completed.
Q4 2025 total revenues of $1.6 billion, up 12.3% from $1.4 billion; diluted EPS $0.20 versus $0.15
Full year 2025 net income of $776 million, up 9.8%; diluted EPS $1.10 versus $0.99
2026 guidance: net income of $836 million to $891 million; diluted EPS $1.19 to $1.27
Sold Four Seasons Resort Orlando and Four Seasons Jackson Hole in February 2026 for $1.1 billion; no share repurchases in Q4 2025
Cheesecake Factory reported fourth-quarter fiscal 2025 revenue of $961.6 million, up from $921.0 million a year earlier, including $17.3 million of gift card breakage revenue. Net income fell to $28.8 million, or $0.60 per diluted share, from $41.2 million, or $0.83, and comparable restaurant sales declined 2.2%. The board also raised the quarterly dividend to $0.30 per share and increased the share repurchase authorization by 5.0 million shares to a total of 66.0 million.
Q4 revenue $961.6 million vs. $921.0 million a year earlier
Diluted EPS $0.60 vs. $0.83; adjusted diluted EPS $1.00 vs. $1.04 (non-GAAP)
Comparable restaurant sales declined 2.2% year over year
Dividend of $0.30 per share payable March 17, 2026; about 6.0 million shares remain under repurchase authorization
Wyndham Hotels & Resorts reported fourth-quarter and full-year 2025 results. Full-year net income fell 33% to $193 million, mainly due to impairment and other-related charges tied to franchisee Revo Hospitality Group's insolvency, while adjusted diluted EPS rose 6% to $4.58. The company also gave 2026 guidance and said its quarterly dividend will rise 5% to $0.43 per share.
Full-year 2025 net income was $193 million, down 33% from $289 million; diluted EPS was $2.50 versus $3.61.
Full-year fee-related and other revenues rose 2% to $1.43 billion; adjusted diluted EPS rose 6% to $4.58.
Revo-related charges included $74 million in operating expenses and $48 million in impairment, plus $38 million of Vienna House trademark and franchise agreement impairments.
2026 outlook calls for adjusted diluted EPS of $4.62 to $4.80 and adjusted EBITDA of $730 million to $745 million; the higher dividend is expected to be declared in first quarter 2026.
CVR Energy reported a fourth-quarter 2025 net loss attributable to stockholders of $110 million, or $1.10 per diluted share, compared with net income of $28 million a year earlier. For full-year 2025, net income attributable to stockholders was $27 million, up from $7 million in 2024, but full-year net sales fell to $7.16 billion from $7.61 billion.
Q4 2025 net loss attributable to stockholders of $110 million, or $1.10 per diluted share, versus net income of $28 million, or 28 cents per share, in Q4 2024
Q4 2025 net loss included $62 million of accelerated depreciation tied to the December 2025 reversion of the Wynnewood Refinery Renewable Diesel Unit to hydrocarbon processing
Full-year 2025 net income attributable to stockholders of $27 million, or 27 cents per share, versus $7 million, or 6 cents, in 2024; full-year net sales were $7.16 billion versus $7.61 billion
Cash and cash equivalents were $511 million at December 31, 2025; the company prepaid $75 million of Term Loan principal in December 2025
Adamas Trust reported results for the fourth quarter and full year ended December 31, 2025. Fourth-quarter net income attributable to common stockholders was $41.6 million ($0.46 per share), and full-year net income was $101.1 million ($1.12 per share). Net interest income rose to $43.2 million in the quarter from $26.7 million a year earlier, and the company said quarterly earnings available for distribution increased 44%, though the filing does not state the prior-period figure for that measure.
Q4 2025 earnings available for distribution were $20.4 million, or $0.23 per common share; full-year figure was $80.6 million, or $0.89 per share.
Full-year 2025 net income attributable to common stockholders was $101.1 million, or $1.12 per share.
Book value per common share was $9.60 at December 31, 2025; adjusted book value was $10.63.
Common dividend was $0.23 per share for each of the final two quarters of 2025, and the company board extended its stock repurchase programs to March 31, 2027.
ONE Gas reported fourth-quarter net income of $86.3 million, or $1.42 per diluted share, up from $1.34 a year earlier, and full-year 2025 net income of $264.2 million, or $4.37 per diluted share, up from $3.91. The company also introduced non-GAAP adjusted 2026 guidance of $306 million to $314 million, or $4.83 to $4.95 per diluted share, which adds a regulatory carrying-cost item to GAAP results.
Q4 2025 net income was $86.3 million, or $1.42 per diluted share, versus $77.0 million, or $1.34, in Q4 2024
Full-year 2025 adjusted net income was $271.0 million, or $4.48 per diluted share, versus $224.8 million, or $3.94, in 2024
2026 GAAP net income guidance is $294 million to $302 million, or $4.65 to $4.77 per diluted share, the same range given on Dec. 1, 2025
2026 adjusted net income guidance is $306 million to $314 million, or $4.83 to $4.95 per diluted share; the company plans capital investments of about $800 million in 2026
SiriusPoint reported fourth-quarter 2025 net income available to common shareholders of $240 million, or $1.97 per diluted share, compared with a loss of $21.3 million a year earlier. Total revenues rose to $973.7 million from $612.8 million, and the company intends to repurchase $100 million of common shares over the next 12 months. The Core combined ratio worsened to 92.9% from 90.2%, a secondary measure that slipped.
Q4 2025 net income available to common shareholders was $240 million, or $1.97 per diluted share, versus a loss of $21.3 million ($0.13 per share) in Q4 2024.
Operating earnings per share were $0.70, compared with $0.27 a year earlier; annualized return on equity was 44.9%.
Core combined ratio was 92.9%, compared with 90.2%; gross written premium rose 17.6% to $896.9 million.
The company intends to repurchase $100 million of common shares over the next 12 months and will redeem all 8,000,000 Series B preference shares on February 26, 2026.
Jackson Financial reported a fourth-quarter 2025 GAAP net loss attributable to common shareholders of $(215) million, or $(3.13) per diluted share, compared with net income of $334 million, or $4.45 per share, a year earlier. Adjusted operating earnings, a non-GAAP measure, rose to $455 million, or a record $6.61 per diluted share, and the company set a 2026 capital return target of $900 million to $1.1 billion.
Q4 2025 GAAP net loss of $(215) million, or $(3.13) per diluted share, versus net income of $334 million, or $4.45 per share, in Q4 2024
Q4 2025 adjusted operating earnings of $455 million, or a record $6.61 per diluted share, versus $349 million, or $4.65 per share, a year earlier
Full-year 2025 GAAP net loss of $(17) million, or $(0.24) per diluted share, versus net income of $902 million, or $11.74 per share, in 2024
Quarterly dividend to rise 12.5% to $0.90 per share in Q1 2026; 2026 capital return target set at $900 million to $1.1 billion
ARMOUR Residential REIT reported unaudited fourth-quarter 2025 GAAP net income available to common stockholders of $208.7 million, or $1.86 per share, up from $156.3 million, or $1.49 per share, in the third quarter. Distributable Earnings per common share were $0.71, compared with $0.72 in the prior quarter, and book value per common share rose to $18.63 from $17.49.
Q4 2025 GAAP net income available to common stockholders: $208.7 million, or $1.86 per common share (Q3 2025: $156.3 million, or $1.49)
Distributable Earnings available to common stockholders: $79.8 million, or $0.71 per common share (Q3 2025: $0.72)
Book value per common share: $18.63 at December 31, 2025, up 6.5% from $17.49 at September 30, 2025
Q4 2025 total economic return of 10.63%; common dividends of $0.72 per share for the quarter
Texas Pacific Land reported fourth-quarter and full-year 2025 results on February 18, 2026. Fourth-quarter revenue was $211.6 million and net income was $123.3 million, both up from the third quarter, and full-year revenue of $798.2 million and net income of $481.4 million were fiscal-year records. The board declared a quarterly dividend of $0.60 per share, a 12.5% increase, payable March 16, 2026.
Full-year 2025 revenue was $798.2 million, up from $705.8 million in 2024.
Full-year 2025 net income was $481.4 million, or $6.97 per diluted share, compared with $454.0 million in 2024.
Fourth-quarter net income was $123.3 million, or $1.79 per diluted share, versus $121.2 million in the third quarter.
The quarterly dividend rose to $0.60 per share from $0.53, payable March 16, 2026 to holders of record on March 2, 2026.
Occidental reported a fourth-quarter 2025 net loss attributable to common stockholders of $68 million, or $0.07 per diluted share, and adjusted income of $315 million, or $0.31 per diluted share, mainly reflecting charges and transaction costs tied to the OxyChem sale. Shareholders also got a dividend increase to $0.26 per share, and the company said it reduced debt by $5.8 billion after the OxyChem sale closed on January 2, 2026.
Q4 2025 net loss of $68 million ($0.07 per diluted share) versus reported income of $661 million ($0.65 per share) in Q3 2025
Q4 2025 adjusted income of $315 million ($0.31 per diluted share), down from $649 million ($0.64) in Q3 2025
Total company production of 1,481 Mboed, above the high end of guidance; operating cash flow of $2.6 billion
Quarterly dividend raised by more than 8% to $0.26 per share, payable April 15, 2026, to holders of record as of March 10, 2026
Coca-Cola Consolidated reported fourth quarter and fiscal 2025 results in a news release furnished as Exhibit 99.1. Fourth quarter net sales rose 9.0% to $1.9 billion and income from operations rose 10.7% to $242.1 million, but GAAP net income fell 23.3% to $137.3 million, mainly because of a prior-year benefit from a contingent consideration fair value adjustment. The company also said it repurchased all remaining shares owned by The Coca-Cola Company in the fourth quarter for approximately $2.4 billion.
Q4 2025 net sales were $1,904.2 million, up 9.0% from $1,746.5 million in Q4 2024; volume rose 4.6%.
Q4 2025 income from operations was $242.1 million, up 10.7%; gross margin fell 40 basis points to 39.6%.
Q4 2025 GAAP net income was $137.3 million versus $178.9 million, a decline of 23.3%; adjusted net income was $157.8 million versus $156.7 million.
Fiscal 2025 net sales were $7.2 billion, up 4.8%; fiscal 2025 GAAP net income was $570.6 million, down 9.9%.
Broadstone Net Lease reported fourth-quarter 2025 revenue of $118.3 million, up from $112.1 million a year earlier, with net income of $35.0 million, or $0.17 per diluted share, versus $0.14 a year earlier. The company kept its 2026 AFFO guidance of $1.53 to $1.57 per diluted share unchanged, which signals no change in its outlook for shareholders, while full-year 2025 net income fell 41.9% to $99.4 million.
Q4 2025 revenue $118.3 million vs. $112.1 million in Q4 2024; net income $35.0 million, or $0.17 per diluted share, vs. $0.14
Q4 2025 AFFO $75.8 million, or $0.38 per diluted share, up 5.6% from the prior year
Full-year 2025 net income $99.4 million, or $0.50 per diluted share, down 41.9%, mainly due to a $60.6 million smaller gain on sale of real estate
2026 AFFO guidance of $1.53 to $1.57 per diluted share unchanged; quarterly dividend declared at $0.2925 per share, payable April 15, 2026
Invitation Homes reported fourth-quarter and full-year 2025 results on February 18, 2026. Q4 total revenues rose 4.0% to $685 million and diluted net income per share rose to $0.24 from $0.23, while Core FFO per share rose 1.3% to $0.48. The company guided 2026 Core FFO per share to $1.90 to $1.98, a midpoint of $1.94 versus $1.91 reported for 2025, but Same Store average occupancy fell 90 basis points year over year to 95.9% in Q4.
Q4 2025 total revenues $685 million, up 4.0%; net income per diluted share $0.24 versus $0.23 a year earlier
FY 2025 Core FFO per share $1.91, up 1.7%; AFFO per share $1.63, up 1.8%
FY 2026 guidance: Core FFO per share $1.90 to $1.98 and AFFO per share $1.60 to $1.68; Same Store NOI growth 0.3% to 2.0%
Company repurchased about $100 million of shares to date, including January 2026, under a $500 million program authorized October 28, 2025
Reliance reported fourth-quarter 2025 net sales of $3.5 billion, up 11.9% from a year earlier, with tons sold up 5.8%. Non-GAAP diluted EPS of $2.40 came in below management's $2.65 to $2.85 guidance range; the company said that normalizing for LIFO and tax impacts would have placed it within guidance at $2.65. Full-year 2025 diluted EPS fell 10.2% to $13.98, and the company guided first-quarter 2026 non-GAAP EPS to $4.50 to $4.70.
Q4 2025 net sales $3.5 billion, up 11.9% year over year; diluted EPS $2.22 versus $1.93 a year earlier
Q4 non-GAAP diluted EPS $2.40 versus management guidance of $2.65 to $2.85, including a $0.25 per share unfavorable LIFO and tax true-up
Full-year 2025 net sales $14.3 billion, up 3.3%; diluted EPS $13.98, down 10.2%
Q1 2026 non-GAAP EPS guidance $4.50 to $4.70; quarterly dividend of $1.25 per share payable March 20, 2026
Royal Gold reported fourth-quarter revenue of $375.3 million, up from $202.6 million a year earlier, and full-year 2025 revenue of $1.03 billion, up from $719.4 million. Full-year net income attributable to stockholders rose to $466.3 million ($6.70 per basic share) from $332.0 million, and the company raised its 2026 dividend to $1.90 per share, its 25th consecutive annual increase.
Q4 2025 revenue of $375.3 million vs. $202.6 million in Q4 2024; Q4 net income of $93.6 million ($1.16 per share)
Full-year 2025 revenue of $1,030.5 million vs. $719.4 million; net income of $466.3 million vs. $332.0 million
Full-year 2025 operating cash flow of $704.8 million vs. $529.5 million
2026 annual dividend increased to $1.90 per share from $1.80 paid in 2025
Omnicom reported fourth-quarter 2025 revenue of $5.5 billion, up 27.9% from a year earlier, with one month of contribution from the Interpublic (IPG) acquisition that closed November 26, 2025. GAAP results swung to a net loss attributable to Omnicom of $941.1 million, driven by $1.1 billion of repositioning costs, a $543.4 million loss on planned dispositions and $186.7 million of IPG transaction costs, while non-GAAP adjusted EPS rose to $2.59 from $2.41. The Board also approved a $5.0 billion share repurchase program, including $2.5 billion of accelerated share repurchase arrangements.
Q4 2025 revenue was $5.5 billion, up from $4.3 billion; Q4 operating loss was $977.2 million versus operating income of $685.3 million a year earlier.
Q4 diluted loss per share was $4.02 versus diluted income of $2.26; non-GAAP adjusted diluted EPS was $2.59 versus $2.41.
Full-year 2025 revenue was $17.3 billion, and the net loss attributable to Omnicom was $54.5 million, compared with net income of $1,480.6 million in 2024.
The Board approved a $5.0 billion share repurchase program, and Omnicom entered into $2.5 billion of accelerated share repurchase arrangements.
CRH reported fiscal 2025 results with total revenues of $37.4 billion, up 5%, and diluted EPS of $5.51, up 10%. The company also guided to 2026 net income of $3.9 billion to $4.1 billion and diluted EPS of $5.60 to $6.05, and declared a quarterly dividend of $0.39 per share, up 5%.
FY 2025 total revenues $37.4 billion (up 5%); net income $3.8 billion (up 8%); Adjusted EBITDA $7.7 billion (up 11%)
FY 2025 diluted EPS $5.51, up 10%; diluted EPS pre-impairment $5.57, up 3%
2026 guidance: net income $3.9 billion to $4.1 billion; Adjusted EBITDA $8.1 billion to $8.5 billion; diluted EPS $5.60 to $6.05
Quarterly dividend of $0.39 per share, payable April 8, 2026, to holders of record on March 6, 2026
Remitly reported fourth-quarter 2025 revenue of $442.2 million, up 26%, and net income of $41.2 million, compared with a net loss of $5.7 million a year earlier. For full-year 2025, net income was $67.9 million, the company's first full year of GAAP profitability, and the company said results exceeded its prior guidance for revenue and Adjusted EBITDA. The company also named Sebastian Gunningham as its new Chief Executive Officer, replacing co-founder Matt Oppenheimer, who will remain Chairman.
Q4 2025 revenue was $442.2 million, up from $351.9 million; net income was $41.2 million versus a net loss of $5.7 million
Full-year 2025 net income was $67.9 million versus a net loss of $37.0 million; Adjusted EBITDA was $272.2 million, up 93%
2026 outlook: total revenue of $1.940 billion to $1.960 billion and Adjusted EBITDA of $340 million to $360 million; GAAP net income expected to be positive
Sebastian Gunningham appointed CEO; Matt Oppenheimer remains Chairman and will advise through a transition period
DoorDash reported fourth-quarter 2025 revenue of $3.955 billion, up 38% from a year earlier, and GAAP net income attributable to common stockholders of $213 million, up 51% year over year but down from $244 million in the prior quarter. For Q1 2026 it guided to Marketplace GOV of $31.0 billion to $31.8 billion and Adjusted EBITDA of $675 million to $775 million, and it said Free Cash Flow fell to $254 million in Q4 2025 from $420 million a year earlier.
Q4 2025 revenue rose 38% Y/Y to $3.955 billion; Adjusted EBITDA rose 38% Y/Y to $780 million
GAAP net income was $213 million in Q4 2025, versus $244 million in Q3 2025
Q1 2026 guidance: Marketplace GOV of $31.0 billion to $31.8 billion; Adjusted EBITDA of $675 million to $775 million
Free Cash Flow was $254 million in Q4 2025, down 40% Y/Y; no shares repurchased under the $5.0 billion February 2025 authorization as of February 17, 2026
Edison International reported fourth-quarter 2025 GAAP net income of $1,848 million, or $4.80 per share, versus $340 million, or $0.88 per share, a year earlier. Core EPS, which excludes non-core items, was $1.87 versus $1.05, and full-year 2025 core EPS was $6.55 versus $4.93, with the company noting that Southern California Edison's results benefited from a Woolsey Settlement Agreement cost recovery and revenue recognition from the 2025 GRC final decision. The company also introduced 2026 core EPS guidance of $5.90-6.20 and 2027 guidance of $6.25-6.65.
Q4 2025 core EPS of $1.87 vs $1.05 a year earlier; GAAP EPS of $4.80 vs $0.88
Full-year 2025 core EPS of $6.55 vs $4.93; full-year operating revenue of $19,317 million vs $17,599 million
2026 core EPS guidance of $5.90-6.20; 2027 core EPS guidance of $6.25-6.65, both as of Feb. 18, 2026
Board declared a quarterly common stock dividend of $0.8775 per share, payable April 30, 2026, to holders of record on April 7, 2026
eBay reported fourth-quarter 2025 revenue of $3.0 billion, up 15%, while GAAP earnings per diluted share fell 19% to $1.14 from $1.40. Non-GAAP EPS rose 13% to $1.41. The company also announced a definitive agreement to acquire Depop, Inc. for approximately $1.2 billion in cash, expected to close in the second quarter of 2026.
Q4 2025 revenue was $2,965 million, up 15% as reported and up 13% on an FX-neutral basis
GAAP net income from continuing operations was $525 million, down 23%; non-GAAP net income was $648 million, up 7%
Q1 2026 guidance: revenue of $3.00 to $3.05 billion and diluted GAAP EPS of $1.14 to $1.20
Depop acquisition from Etsy, Inc. is an all-cash transaction valued at approximately $1.2 billion
Carvana reported fourth-quarter and full-year 2025 results on February 18, 2026. Revenue grew 58% in the fourth quarter to $5.603 billion and 49% for the year to $20.322 billion, while the company expects significant growth in 2026 retail units and Adjusted EBITDA. Fourth-quarter Adjusted EBITDA margin fell to 9.1% from 10.1%, and net income was boosted by a tax benefit of about $685 million.
Q4 2025 revenue was $5.603 billion, up 58%, on 163,522 retail units sold, up 43%
Q4 2025 net income was $951 million, including a tax-related benefit of about $685 million; FY 2025 net income was $1.895 billion
Q4 2025 Adjusted EBITDA was $511 million, with margin down to 9.1% from 10.1%
Company expects significant growth in full-year 2026 retail units and Adjusted EBITDA, and a sequential increase in both in Q1 2026, assuming a stable environment
Grand Canyon Education reported fourth quarter 2025 service revenue of $308.1 million, up 5.3%, and diluted EPS of $3.14 versus $2.84 a year earlier. For full year 2025, net income fell 4.4% to $216.2 million, weighed down by a $35.0 million litigation settlement, and the company issued 2026 guidance with full-year diluted EPS of $9.55 to $10.16.
Q4 2025 service revenue $308.1 million, up 5.3%; operating income $108.1 million, up 8.1%
Q4 2025 diluted EPS $3.14 vs. $2.84; full-year diluted EPS $7.71 vs. $7.73
Full-year 2025 net income $216.2 million, down 4.4%, including a $35.0 million litigation settlement
2026 full-year service revenue guidance of $1,167.5 million to $1,189.0 million; diluted EPS $9.55 to $10.16
Booking Holdings reported fourth-quarter 2025 revenue of $6.3 billion, up 16% from a year earlier, and GAAP net income of $1.4 billion, up 34%. For full year 2025, net income fell 8% to $5.4 billion, and the company said it expects 2026 adjusted EBITDA growth faster than revenue growth and mid-teens adjusted EPS growth. It also announced a 25-for-1 forward stock split and a 9.4% increase in its quarterly dividend.
Q4 2025 GAAP EPS was $44.22, up 38%; adjusted EPS was $48.80, up 17%.
Full year 2025 net income was $5.4 billion, down 8%, and GAAP EPS was $165.57, down 4%; full year results included a $457 million impairment.
Quarterly dividend of $10.50 per share is payable March 31, 2026, up from $9.60 in 2025.
Split: holders of record on March 6, 2026 receive 24 additional shares, distributed after the close on April 2, 2026; split-adjusted trading is expected April 6, 2026.
Avis Budget Group reported fourth quarter 2025 revenue of $2.7 billion, down 2% from a year earlier, and a net loss of $856 million, which includes a $518 million impairment and related charges on certain U.S. electric vehicle rental cars. The company's full-year 2025 net loss was $995 million, compared with $1,817 million in 2024, while full-year Adjusted EBITDA rose 19% to $748 million. The filing shows smaller losses than a year ago but lower revenue, and it provides no new financial guidance.
Q4 2025 revenue was $2.7 billion, down 2% from $2,710 million in Q4 2024.
Q4 2025 net loss was $856 million, versus $1,957 million in Q4 2024; the $518 million impairment and related charges reduced the carrying value of certain U.S. EV rental cars.
Full-year 2025 revenue was $11.7 billion, down 1% from $11,789 million, and full-year net loss was $995 million, versus $1,817 million in 2024.
Full-year 2025 Adjusted EBITDA was $748 million, up 19% from $628 million; Q4 Adjusted EBITDA was $5 million, compared with a loss of $101 million a year earlier.
Winmark Corporation reported results for the year ended December 27, 2025, with net income of $41.7 million, or $11.30 per diluted share, up from $40.0 million, or $10.89 per diluted share, in 2024. Revenue rose to $86.1 million from $81.3 million, and fourth-quarter net income was $9.96 million, or $2.69 per diluted share. The CEO said the company made significant investments in marketing, technology, and innovation during the year, which increased selling, general and administrative expenses.
Full-year 2025 revenue was $86.1 million, up from $81.3 million in 2024.
Full-year 2025 diluted EPS was $11.30, compared with $10.89 in 2024.
Fourth-quarter 2025 net income was $9.96 million, or $2.69 per diluted share, versus $9.58 million, or $2.60, a year earlier.
Selling, general and administrative expenses rose to $28.4 million from $24.9 million.
Progressive reported January 2026 results, with net income of $1.163 billion, up 4% from $1.117 billion a year earlier, and earnings of $1.98 per diluted share, up from $1.90. Net premiums written rose 4% to $6.735 billion and policies in force grew 10% to 38.9 million, while the combined ratio worsened slightly to 84.4 from 84.1. The release is a monthly update, and the company made no additional commentary on January results.
Net income $1.163 billion vs. $1.117 billion in January 2025, up 4%
Diluted earnings per share $1.98 vs. $1.90, up 4%
Combined ratio 84.4 vs. 84.1 a year earlier, 0.3 points higher
Policies in force 38.9 million at January 31, 2026, up 10% from a year earlier
Clean Harbors reported fourth-quarter 2025 revenue of $1.50 billion and net income of $86.6 million, or $1.62 per diluted share, both up from the prior-year quarter. For full-year 2025, revenue reached a record $6.03 billion, but net income fell to $391.0 million from $402.3 million. The company also guided 2026 Adjusted EBITDA to $1.20 billion to $1.26 billion and expanded its buyback by $350 million.
Q4 2025 net income was $86.6 million, or $1.62 per diluted share, versus $84.0 million, or $1.55, a year earlier.
Full-year 2025 net income was $391.0 million, or $7.28 per diluted share, versus $402.3 million, or $7.42, in 2024.
2026 guidance: Adjusted EBITDA of $1.20 billion to $1.26 billion and adjusted free cash flow of $480 million to $540 million.
Agreed to acquire certain Depot Connect International businesses for about $130 million, with closing expected in the first half of 2026; buyback availability was raised to $600 million.
Sonic Automotive reported fourth-quarter 2025 revenue of $3.9 billion, down 1%, and net income of $46.9 million, down 20%, while full-year revenue rose 7% to a record $15.2 billion. Full-year net income fell 45% to $118.7 million, reflecting a $173.8 million non-cash impairment charge, and the board approved a $0.38 quarterly dividend payable April 15, 2026.
Q4 2025 diluted EPS was $1.36, down 19%; adjusted diluted EPS was $1.52, up 1%
Q4 gross profit was a record $598.7 million, up 4%
Full-year 2025 diluted EPS was $3.42, down 45%, including a $173.8 million second-quarter impairment charge
Quarterly dividend of $0.38 per share is payable April 15, 2026 to holders of record on March 13, 2026
PROG Holdings reported fourth-quarter 2025 revenue of $574.6 million, down 5.2% from a year earlier, and continuing-operations net earnings of $19.9 million, down from $58.3 million, a period that included a $27.8 million deferred tax benefit. The company also issued full-year and first-quarter 2026 outlook, which assumes a difficult operating environment and includes almost a full year of the recently acquired Purchasing Power business.
Q4 2025 diluted EPS from continuing operations was $0.49 versus $1.36 a year earlier; non-GAAP diluted EPS was $0.74, down 5.1% from $0.78.
Progressive Leasing GMV was $534.0 million, down 10.6%, while PROG Marketplace GMV rose 187% and Four GMV grew 126%.
Full-year 2026 outlook: total revenues of $3.02 billion to $3.14 billion and net earnings from continuing operations of $132 million to $155 million.
First-quarter 2026 outlook: total revenues of $715 million to $745 million and net earnings from continuing operations of $9 million to $17 million.
Wingstop reported fourth-quarter 2025 revenue of $175.7 million, up 8.6%, with GAAP diluted EPS of $0.96 versus $0.92 a year earlier. Domestic same store sales fell 5.8% in the quarter, and the company issued 2026 guidance calling for flat to low-single-digit domestic same store sales growth and 15% to 16% global unit growth. The Board also declared a $0.30 quarterly dividend payable March 27, 2026.
Q4 2025 total revenue $175.7 million, up from $161.8 million; net income $26.8 million, or $0.96 per diluted share, vs. $0.92 a year earlier
Fiscal 2025 net income rose 60.3% to $174.3 million, or $6.21 per diluted share; total revenue $696.9 million, up 11.4%
Q4 domestic same store sales decreased 5.8%; 2026 guidance: flat to low-single-digit domestic same store sales growth and 15% to 16% global unit growth
Quarterly dividend of $0.30 per share declared February 17, 2026, payable March 27, 2026 to holders of record March 6, 2026
Sabre reported fourth-quarter and full-year 2025 results and gave 2026 guidance. Q4 revenue rose 3% to $667 million, but operating income fell 54% to $21 million and the net loss widened to $103 million, while full-year net income reached $525 million, mainly due to the gain on the Hospitality Solutions sale. Sabre expects full-year 2026 pro forma Adjusted EBITDA of about $585 million.
Q4 2025 revenue rose 3% to $667 million, while operating income fell 54% to $21 million amid a restructuring charge and higher incentive expenses.
Full-year 2025 net income attributable to common stockholders was $525 million, versus a loss of $279 million in 2024, driven by the gain on sale of Hospitality Solutions.
2026 outlook: full-year pro forma Adjusted EBITDA of about $585 million and first-quarter pro forma Adjusted EBITDA of about $130 million, with mid-single digit revenue growth expected.
Roshan Mendis, Executive Vice President and Chief Commercial Officer, will depart in the second quarter of 2026; Shawn Williams becomes Chief Operating Officer effective February 19, 2026.
SolarEdge reported fourth-quarter 2025 revenue of $335.4 million, up 70% from a year earlier but down 1.4% from the prior quarter, and a GAAP net loss of $132.1 million, or $2.21 per share, which included a one-time, non-cash $70.5 million finance expense tied to the liquidation of its Korean business entity. For full-year 2025, revenue rose 31% to $1.18 billion and the GAAP net loss narrowed to $405.4 million from $1.81 billion in 2024. The company guided first-quarter 2026 revenue to $290 million to $320 million.
Q4 2025 GAAP net loss was $132.1 million, versus $50.1 million in the prior quarter; non-GAAP net loss was $8.2 million.
Full-year 2025 operating cash flow was $104.3 million and free cash flow was $76.9 million, compared with a $421.5 million free cash flow deficit in 2024.
Q1 2026 guidance: revenue of $290 million to $320 million, non-GAAP gross margin of 20% to 24%, and non-GAAP operating expenses of $88 million to $93 million.
JLL reported fourth-quarter 2025 revenue of $7.6 billion, up 12% in U.S. dollars from $6.8 billion a year earlier, and diluted earnings per share of $8.34 versus $4.97. For the full year, diluted EPS was $16.40, up 45%, on revenue of $26.1 billion, up 11%. The filing gives no new financial guidance; management said it will provide longer-term targets at an upcoming investor briefing.
Q4 revenue $7.6 billion, up 12% in U.S. dollars and 10% in local currency; net income attributable to common shareholders $401.7 million versus $241.2 million
Vita Coco reported fourth-quarter and full-year 2025 results on February 18, 2026. Full-year net sales rose 18% to $610 million and net income rose to $71 million from $56 million, although gross margin fell to 37% from 39%. The company expects 2026 net sales of $680 million to $700 million and adjusted EBITDA of $122 million to $128 million, which shareholders can compare with the 2025 results.
Full-year 2025 net sales were $610 million, up 18%, with Vita Coco Coconut Water net sales up 26%.
Full-year 2025 net income was $71 million, or $1.19 per diluted share, compared with $56 million, or $0.94, in 2024.
Fourth-quarter 2025 net sales were $128 million, up 0.4%, and net income was $6 million compared with $3 million.
2026 guidance calls for net sales of $680 million to $700 million and adjusted EBITDA of $122 million to $128 million.
Enpro reported fourth-quarter 2025 sales of $295.4 million, up 14.3%, and adjusted diluted earnings per share of $1.99, up 26.8%. A $67.2 million non-cash pension settlement loss turned the quarter to a GAAP net loss of $32.0 million, and the company introduced 2026 guidance calling for adjusted diluted EPS of $8.50 to $9.20.
Q4 2025 sales were $295.4 million, up 14.3%; GAAP diluted loss per share was $1.52 versus earnings of $0.66 a year earlier.
The $67.2 million pre-tax pension settlement loss followed the termination of Enpro's U.S. defined benefit pension plan.
Full-year 2025 adjusted diluted EPS was $7.91, up 13.6%; GAAP diluted EPS was $1.91 versus $3.45.
2026 guidance: revenue growth of 8% to 12%, adjusted EBITDA of $305 million to $320 million, and adjusted diluted EPS of $8.50 to $9.20.
Verisk reported fourth-quarter and full-year 2025 results on February 18, 2026. Quarterly revenue rose 5.9% to $779 million and adjusted EPS rose 13.0% to $1.82, but GAAP diluted EPS fell 1.4% to $1.42 because the prior year included gains on investments and the current year included debt-related charges. The company guided 2026 revenue to $3,190 million to $3,240 million, plans a $1.5 billion accelerated share repurchase, and raised its quarterly dividend 11% to 50 cents per share.
Q4 2025 revenue was $779 million, up 5.9%; net income was $197 million, down 6.2%.
GAAP diluted EPS was $1.42, down 1.4%; diluted adjusted EPS was $1.82, up 13.0%.
2026 guidance: total revenue of $3,190 million to $3,240 million; diluted adjusted EPS of $7.45 to $7.75.
Board raised the quarterly dividend to 50 cents from 45 cents, payable March 31, 2026, and lifted the buyback authorization to $2.5 billion.
Charles River Laboratories reported fourth-quarter 2025 revenue of $994.2 million, down 0.8% from a year earlier, and a GAAP net loss of $(276.6) million, or $(5.62) per diluted share, driven by non-cash impairments. Non-GAAP earnings per share fell 10.2% to $2.39, and the company guided 2026 non-GAAP earnings per share to $10.70 to $11.20, which it said would be an increase of about 4% to 9%.
Q4 2025 revenue was $994.2 million, down 0.8% from $1,002.5 million; organic revenue declined 2.6%.
Q4 GAAP net loss was $(276.6) million, or $(5.62) per diluted share, including $211.0 million of intangible asset impairments and a $165.0 million goodwill impairment.
Q4 non-GAAP diluted EPS was $2.39, down 10.2% from $2.66; non-GAAP operating margin fell to 18.1% from 19.9%.
2026 guidance: non-GAAP EPS of $10.70 to $11.20 and GAAP EPS of $6.30 to $6.80; guidance excludes planned divestitures of about 7% of annual revenue.
LCI Industries reported fourth quarter and full year 2025 results on February 18, 2026. Fourth quarter net sales rose 16.1% to $932.7 million and diluted EPS was $0.77, up from $0.37, while the company also gave 2026 guidance of $4.2 billion to $4.3 billion in revenue and adjusted diluted EPS of $8.25 to $9.25.
Q4 2025 net sales $932.7 million, up 16.1% from $803.1 million; OEM Segment operating profit $26.9 million versus $1.9 million a year earlier
Full year 2025 net sales $4.1 billion and diluted EPS $7.57, up from $5.60 in 2024
2026 outlook: revenue of $4.2 billion to $4.3 billion, operating profit margin of 7.5% to 8.0%, and adjusted diluted EPS of $8.25 to $9.25
Q4 2025 results include $3.9 million of restructuring costs tied to closing the glass operations in Ireland
Insulet reported fourth-quarter revenue of $783.8 million, up 31.2%, and GAAP net income of $101.6 million, or $1.44 per diluted share, compared with $1.39 a year earlier. Full-year GAAP net income fell to $247.1 million from $418.3 million, largely due to a $123.9 million loss on extinguishment of debt and prior-year tax benefits, while full-year adjusted EPS rose 53.4% to $4.97. The board also raised the share repurchase authorization by $350 million to a total of $475 million, extended through December 31, 2027, and the company guided 2026 total constant currency revenue growth to 20% to 22%.
Q4 2025 revenue of $783.8 million, up 31.2%; Omnipod revenue of $781.8 million, up 33.5%
Full-year 2025 revenue of $2.7 billion, up 30.7%; GAAP diluted EPS of $3.48 vs. $5.78 in 2024
Board approved a $350 million repurchase increase on February 13, 2026; $415 million remained available as of February 16, 2026, with about $300 million planned for Q1 2026
2026 guidance: total constant currency revenue growth of 20% to 22% and adjusted EPS growth above 25%
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