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).
Monolithic Power Systems said its audit committee concluded that its 2024 annual financial statements and its 2025 quarterly statements should no longer be relied upon because of an unintentional error in accounting for deferred income taxes tied to a one-time foreign tax incentive. The restatement cuts 2024 net income by $194.6 million to $1.592 billion, while 2025 net income rises $5.6 million, and the company says revenue, its non-GAAP measures and its Q1 2026 outlook are unchanged.
2024 net income restated to $1.592 billion from $1.787 billion; diluted EPS restated to $32.60 from $36.59.
The error relates to deferred income taxes on a one-time tax incentive granted by a foreign jurisdiction; the company says it is non-cash and involved no misconduct.
2025 net income increases $5.6 million to $621.5 million; diluted EPS rises to $12.86 from $12.75.
Revenue and non-GAAP measures are unaffected, and the Q1 2026 business outlook from February 5, 2026 is unchanged; the 2025 Form 10-K will be filed immediately after this 8-K.
Arbor Realty Trust reported fourth-quarter 2025 net income of $14.6 million, or $0.07 per diluted share, down from $59.8 million, or $0.32, a year earlier. Full-year net income was $107.4 million, or $0.56 per diluted share, versus $1.18 in 2024. The board declared a $0.30 quarterly dividend, down from $0.43 declared in the fourth quarter of 2024.
Q4 2025 net income of $14.6 million, or $0.07 per diluted share, versus $0.32 in Q4 2024
Q4 2025 distributable earnings of $41.2 million, or $0.19 per diluted share, versus $0.40 in Q4 2024
Full-year 2025 net income of $107.4 million, or $0.56 per diluted share, versus $1.18 in 2024
Dividend of $0.30 per share payable March 24, 2026 to holders of record on March 10, 2026
Sunstone Hotel Investors reported fourth-quarter 2025 net income of $7.2 million, up from $0.8 million a year earlier, with total portfolio RevPAR up 9.6%. Full-year 2025 net income fell to $24.6 million from $43.3 million, though the company said it would have been $33.3 million excluding a loss on the June 2025 sale of the Hilton New Orleans St. Charles. The company also reauthorized a $500.0 million stock repurchase program and issued 2026 guidance.
Q4 2025 net income was $7.2 million versus $0.8 million; Adjusted EBITDA re rose 17.6% to $56.6 million.
Full-year 2025 Adjusted FFO per diluted share was $0.86, up 7.5%, and above the $0.835 midpoint of prior guidance of $0.80 to $0.87.
In February 2026 the board reauthorized repurchases of up to $500.0 million of common and preferred stock.
2026 guidance calls for net income of $21 to $46 million and Adjusted FFO per diluted share of $0.81 to $0.94.
Alpha Metallurgical Resources reported a fourth-quarter 2025 net loss of $17.3 million, or $1.34 per diluted share, compared with a $5.5 million loss in the third quarter and a $2.1 million loss a year earlier. For full-year 2025, the company posted a net loss of $61.7 million, or $4.75 per diluted share, after net income of $187.6 million in 2024, so shareholders are seeing a sharp reversal in profitability.
Q4 2025 net loss of $17.3 million ($1.34 per diluted share) vs. a $2.1 million loss in Q4 2024
Adjusted EBITDA of $28.5 million in Q4 2025, down from $41.7 million in Q3 2025 and $53.2 million in Q4 2024
Full-year 2025 total revenues of $2.13 billion vs. $2.96 billion in 2024
As of February 20, 2026, about 6.9 million shares repurchased for about $1.1 billion under a $1.5 billion authorization
Carter's reported fourth-quarter fiscal 2025 net sales of $925 million, up 7.6% from a year earlier, but adjusted diluted EPS fell 20.5% to $1.90 as tariff costs and other expenses weighed on margins. For the full year, adjusted diluted EPS fell 40.3% to $3.47, and the company expects adjusted diluted EPS to decline by a low double-digit to mid-teens percentage in fiscal 2026, excluding potential benefits from recent tariff developments.
Q4 net sales $925 million vs. $860 million; GAAP diluted EPS $1.76 vs. $1.71; adjusted diluted EPS $1.90 vs. $2.39
Fiscal 2025 net sales $2.898 billion vs. $2.844 billion; GAAP diluted EPS $2.53 vs. $5.12
Fiscal 2026 outlook: low double-digit to mid-teens decline in adjusted diluted EPS from $3.47; operating cash flow of $110 million to $120 million
Quarterly dividend of $0.25 per share declared February 19, 2026, payable March 27, 2026 to holders of record on March 13, 2026
MARA Holdings reported preliminary, unaudited results for the fourth quarter and full year 2025, showing revenue down 6% in the quarter and a net loss of $1.7 billion, compared with net income of $528.3 million a year earlier. The company attributed the swing mainly to a $1.5 billion loss on fair value of digital assets as bitcoin prices fell, and it also announced a joint venture with Starwood Digital Ventures to develop AI and high-performance compute infrastructure. Final figures will come in the Form 10-K, so the reported numbers could change.
Q4 2025 revenue fell 6% to $202.3 million from $214.4 million in Q4 2024, driven by a 14% decrease in the average bitcoin price.
Q4 2025 net loss was $1.7 billion, or $4.52 per diluted share, versus net income of $528.3 million, or $1.24 per diluted share, in Q4 2024.
Full-year 2025 revenue rose 38% to $907.1 million, while the full-year net loss was $1.3 billion compared with net income of $541.0 million in 2024.
Adjusted EBITDA was a loss of $1.5 billion in Q4 2025 versus $796.0 million in Q4 2024; results remain preliminary and unaudited.
Arcosa reported fourth-quarter 2025 net income of $52.1 million, compared with a net loss of $7.7 million a year earlier, and full-year 2025 revenue of $2.88 billion, up 12%. The company also guided to 2026 revenue of $2.95 billion to $3.10 billion and adjusted EBITDA of $590 million to $640 million, excluding its planned $450 million sale of the barge business, which is expected to close in the second quarter of 2026.
Q4 2025 net income was $52.1 million, or $1.06 diluted EPS, versus a net loss of $7.7 million, or $(0.16) per share, in Q4 2024.
Full-year 2025 revenue was $2.88 billion, up 12%, and adjusted EBITDA was $583.3 million, up 30%.
2026 guidance: revenue of $2.95 billion to $3.10 billion and adjusted EBITDA of $590 million to $640 million, excluding the barge divestiture.
Barge business (Arcosa Marine Products) to be sold to Wynnchurch Capital L.P. for $450 million in cash, expected to close in Q2 2026; Group President Jesse E. Collins Jr. retires effective April 3, 2026.
Tutor Perini reported fourth-quarter and full-year 2025 results in a press release furnished as Exhibit 99.1 to a Form 8-K dated February 26, 2026. Full-year revenue rose 28% to $5.5 billion, and the company returned to a profit after a loss in 2024, with diluted EPS of $1.51 compared with a loss of $3.13. The company also gave 2026 adjusted EPS guidance of $4.90 to $5.30, which excludes share-based compensation expense.
2025 revenue was $5.5 billion, up 28% from 2024.
Income from construction operations was $232.0 million in 2025, compared with a loss of $103.8 million in 2024.
Operating cash flow was a record $748.1 million in 2025, up 49% year-over-year.
The company expects 2026 adjusted EPS of $4.90 to $5.30 and does not provide GAAP EPS guidance.
SBA Communications reported fourth-quarter 2025 results, with net income of $370.4 million ($3.47 per diluted share) versus $178.8 million a year earlier, though that figure includes a $226.3 million gain on the sale of its Canadian operations. AFFO per share fell 8.1% to $3.19, and the company issued initial 2026 guidance that excludes all contracted EchoStar revenue while declaring a dividend of $1.25 per share, up about 13%.
Q4 2025 site leasing revenue rose 3.1% to $666.2 million; net income was $370.4 million, or $3.47 per diluted share, versus $1.61 a year earlier.
AFFO fell 9.2% to $340.4 million, and AFFO per share fell 8.1% to $3.19 from $3.47.
2026 outlook projects total revenues of $2,815.0 million to $2,860.0 million and AFFO per share of $11.84 to $12.29, excluding all contracted EchoStar revenue.
Quarterly dividend of $1.25 per share is payable March 27, 2026, to holders of record on March 13, 2026.
DoubleVerify reported fourth-quarter and full-year 2025 results, with full-year revenue up 14% to $748.3 million but net income down to $50.7 million from $56.2 million in 2024. The Board also approved a $300 million share repurchase program that replaces the November 2024 program, and the company guided 2026 revenue growth of 8% to 10%.
Full-year 2025 revenue of $748.3 million, up 14%; net income of $50.7 million versus $56.2 million in 2024, and diluted EPS of $0.30 versus $0.32.
Fourth-quarter 2025 revenue of $205.6 million, up 8%, with net income of $29.3 million.
2026 guidance: full-year revenue of $810 million to $826 million, up 8% to 10%, and adjusted EBITDA margin of about 34%.
Board approved a $300 million repurchase program, replacing the November 2024 program; it has no time limit and does not obligate the company to buy a specific number of shares.
Dentsply Sirona reported a fourth quarter and full-year 2025 net loss, with fourth-quarter net sales up 6.2% but full-year net sales down 3.0%. The company also eliminated its quarterly dividend, announced a restructuring plan, and set 2026 net sales and adjusted EPS outlooks below its 2025 adjusted EPS of $1.60, which matters to shareholders because the dividend is gone and the outlook implies lower per-share earnings.
Q4 2025 net sales were $961 million, up 6.2%, but the company posted a net loss of $146 million, or $0.74 per diluted share, driven by $144 million in net-of-tax goodwill and intangible impairments.
FY 2025 net sales were $3,680 million, down 3.0%, and the net loss was $598 million, or $3.00 per diluted share, compared with a $910 million loss in 2024.
FY 2026 outlook: net sales of $3.5 billion to $3.6 billion and adjusted EPS of $1.40 to $1.50, versus FY 2025 adjusted EPS of $1.60.
The Board eliminated the quarterly cash dividend, which the company said will redirect capital to debt retirement and share repurchases; a restructuring plan carries $55 million to $65 million in charges and about $120 million in annualized
Dell reported record fiscal 2026 fourth-quarter revenue of $33.4 billion, up 39%, and record full-year revenue of $113.5 billion, up 19%. It guided fiscal 2027 revenue to $138.0 billion to $142.0 billion, and it raised its cash dividend by 20% and its share repurchase authorization by $10 billion.
Q4 FY26 revenue of $33.4 billion, up 39%; diluted EPS of $3.37, up 57%
FY26 revenue of $113.5 billion, up 19%; diluted EPS of $8.68, up 36%
FY27 revenue guidance of $138.0 billion to $142.0 billion; GAAP diluted EPS midpoint of $11.52
Fox Factory reported fourth-quarter fiscal 2025 net sales of $361.1 million, up 2.3%, but posted a net loss of $287.0 million, or $6.86 per diluted share, driven mainly by goodwill impairment. Adjusted EBITDA fell to $35.0 million from $40.4 million, and the company launched a Phase 2 profit plan and introduced fiscal 2026 guidance for adjusted EBITDA of $174 million to $203 million.
Q4 net sales rose 2.3% to $361.1 million; net loss was $287.0 million, or $6.86 per diluted share, versus a $0.1 million loss a year earlier.
Adjusted EPS was $0.20 versus $0.31 in the prior-year quarter; adjusted EBITDA was $35.0 million versus $40.4 million.
Full-year fiscal 2025 goodwill impairment was $557.3 million; goodwill fell to $83.6 million from $639.5 million.
Phase 2 targets about $40 million in additional savings in 2026; fiscal 2026 net sales guidance is $1.328 billion to $1.416 billion, and the company expects to divest its Phoenix, Arizona AAG operations by the end of Q1 fiscal 2026.
Talen Energy reported a full-year 2025 GAAP net loss attributable to stockholders of $219 million, compared with net income of $998 million in 2024. The loss reflects a $501 million fourth-quarter charge tied to a change in accounting for certain stock-based awards, while Adjusted EBITDA rose to $1,035 million from $770 million and Adjusted Free Cash Flow reached $524 million. The company reaffirmed its 2026 guidance of $1,750 million to $2,050 million in Adjusted EBITDA, which excludes the pending Cornerstone Acquisition.
Full-year 2025 GAAP net loss attributable to stockholders was $219 million, versus net income of $998 million in 2024.
Full-year 2025 Adjusted EBITDA was $1,035 million, up from $770 million, and Adjusted Free Cash Flow was $524 million, up from $283 million.
The company reaffirmed 2026 Adjusted EBITDA guidance of $1,750 million to $2,050 million and Adjusted Free Cash Flow guidance of $980 million to $1,180 million.
Talen signed a definitive agreement on January 15, 2026 for the Cornerstone Acquisition, with a purchase price of $3.45 billion, expected to close early in the second half of 2026.
Evertec reported preliminary fourth-quarter 2025 results, with revenue up 13.1% but GAAP net income attributable to common shareholders down 11.2%, driven by higher depreciation, amortization, cost of revenues and personnel expenses. Full-year 2025 revenue rose 10.2% and GAAP net income rose 25.7%, and the board raised the share repurchase authorization to $150 million through December 31, 2027, with about $84.4 million remaining before the increase.
Q4 2025 revenue was $244.8 million, up 13.1% from $216.4 million; GAAP net income attributable to common shareholders was $35.6 million, or $0.56 per diluted share, down 11.2%.
Full-year 2025 revenue was $931.8 million, up 10.2%; GAAP net income was $141.6 million, or $2.20 per diluted share, up 25.7%.
On February 25, 2026, the board approved raising the share repurchase authorization to $150 million through December 31, 2027.
The revised 2026 outlook calls for total revenue of $1,024 million to $1,036 million and adjusted earnings per share of $3.84 to $3.96.
Alignment Healthcare reported fourth-quarter 2025 total revenue of $1,012.8 million, up 44.4%, and a net loss of $11.0 million, compared with a $31.1 million loss a year earlier. For full-year 2025, revenue was $3.95 billion, up 46.1%, and the net loss narrowed to $1.0 million from $128.1 million. The company guided 2026 revenue to $5.14 billion to $5.19 billion and adjusted EBITDA to $133 million to $163 million, which signals expected continued growth and a path toward profitability for shareholders.
Q4 2025 total revenue was $1,012.8 million, up 44.4%; net loss was $11.0 million versus $31.1 million a year earlier.
Full-year 2025 revenue was $3.95 billion, up 46.1%; net loss was $1.0 million versus $128.1 million in 2024.
2026 guidance: revenue of $5.14 billion to $5.19 billion, adjusted EBITDA of $133 million to $163 million, and 292,000 to 298,000 health plan members.
Health plan membership guidance was raised by 2,000 at the midpoint; membership at the end of Q4 2025 was about 236,300, up 25.0%.
Sempra reported full-year 2025 GAAP earnings of $1.80 billion, or $2.75 per diluted share, down from $2.82 billion, or $4.42, in 2024, mainly due to large regulatory disallowances and tax items. On an adjusted basis, full-year earnings rose to $3.07 billion, or $4.69 per share, from $4.65, while fourth-quarter adjusted EPS fell to $1.28 from $1.50. The company affirmed its 2026 adjusted EPS guidance of $4.80 to $5.30, issued 2027 guidance of $5.10 to $5.70, and raised its five-year capital plan to $65 billion.
Full-year 2025 GAAP EPS was $2.75, versus $4.42 in 2024; fourth-quarter GAAP EPS was $0.54, versus $1.04.
Full-year 2025 adjusted EPS was $4.69, versus $4.65 in 2024; fourth-quarter adjusted EPS was $1.28, versus $1.50.
Five-year 2026-2030 capital plan raised to approximately $65 billion from $56 billion; 2026 adjusted EPS guidance of $4.80 to $5.30 affirmed.
Quarterly dividend declared at $0.6575 per share, payable April 15, 2026, an annualized $2.63 versus $2.58 in 2025.
PSEG reported full-year 2025 net income of $2.11 billion, or $4.22 per share, up from $3.54 per share in 2024, and non-GAAP operating earnings of $4.05 per share, up from $3.68. It initiated 2026 non-GAAP operating earnings guidance of $4.28 to $4.40 per share, about 7% above 2025 at the midpoint, and raised its indicative 2026 dividend to $2.68 per share, but fourth-quarter operating earnings fell to $0.72 per share from $0.84.
Full-year 2025 non-GAAP operating earnings were $2.03 billion, or $4.05 per share, versus $1.84 billion, or $3.68 per share, in 2024.
Fourth-quarter 2025 non-GAAP operating earnings were $362 million, or $0.72 per share, down from $421 million, or $0.84 per share, a year earlier.
The 2026 non-GAAP operating earnings guidance range is $4.28 to $4.40 per share.
The regulated 2026-2030 capital spending plan is $22.5 billion to $25.5 billion, and the 2026 indicative annual dividend is $2.68 per share, up $0.16.
Universal Health Services reported fourth-quarter 2025 net income attributable to UHS of $445.9 million, or $7.06 per diluted share, up from $332.4 million, or $4.96, a year earlier, on net revenues up 9.1% to $4.486 billion. It also issued a 2026 forecast of $18.417 billion to $18.789 billion in net revenues and $22.64 to $24.52 in diluted EPS, and disclosed that a Nevada judge granted a new trial in a lawsuit where a jury had awarded $500 million in punitive damages against a subsidiary, which the company says would likely be vacated.
Q4 2025 net income attributable to UHS was $445.9 million ($7.06 per diluted share) vs. $332.4 million ($4.96) in Q4 2024; adjusted EPS was $5.88 vs. $4.92.
Q4 2025 net revenues rose 9.1% to $4.486 billion; full-year 2025 net revenues were $17.365 billion.
2026 forecast: net revenues of $18.417 billion to $18.789 billion and diluted EPS of $22.64 to $24.52.
On February 25, 2026, the judge in the Washoe County, Nevada case granted a new trial over juror misconduct; the company had recorded an $18 million legal reserve in Q3 2025.
Gibraltar Industries reported fourth-quarter 2025 net sales of $268.7 million, up 16.0%, while adjusted diluted EPS fell 14.6% to $0.76 and adjusted EBITDA fell 7.6% to $36.6 million. The company also issued 2026 guidance that includes OmniMax International, which closed on February 2, 2026, with adjusted EPS expected between $3.65 and $4.05 versus $3.92 in 2025.
Q4 2025 net sales $268.7 million (up 16.0%); GAAP income from continuing operations $11.8 million (down 75.1%)
Full-year 2025 net sales $1.14 billion (up 11.0%); GAAP diluted EPS $3.25 versus $4.39 in 2024
2026 guidance: net sales $1.76 billion to $1.83 billion; adjusted EPS $3.65 to $4.05 versus $3.92 in 2025
Full-year 2025 net loss of $44.4 million, including a $141.9 million loss from discontinued operations
Lantheus reported fourth-quarter 2025 revenue of $406.8 million, up 4.0%, and GAAP diluted EPS of $0.82 versus a loss of $(0.17) a year earlier. For full year 2025, revenue was $1.54 billion, up 0.5%, while adjusted diluted EPS fell to $6.08 from $6.76. The company also said it is pursuing value-maximizing alternatives for its radiotherapeutic assets and issued 2026 revenue guidance of $1.4 billion to $1.45 billion and adjusted diluted EPS guidance of $5.00 to $5.25.
Q4 2025 revenue $406.8 million, up 4.0%; Q4 adjusted operating income down 8.5% to $138.9 million
Full year 2025 GAAP diluted EPS $3.41 versus $4.36 in 2024; adjusted diluted EPS $6.08 versus $6.76
Company repurchased $100 million of common stock in Q4 2025 and completed the divestiture of the legacy SPECT business to SHINE Technologies effective January 1, 2026
FY 2026 guidance: revenue $1.4 billion to $1.45 billion; adjusted diluted EPS $5.00 to $5.25
J.M. Smucker reported fiscal third-quarter results for the period ended January 31, 2026, with net sales of $2.3 billion, up 7%, but a GAAP net loss of $6.79 per diluted share driven by noncash impairment charges tied to Sweet Baked Snacks. Adjusted earnings per share fell 9% to $2.38. The company lowered the top end of its full-year net sales growth outlook because of a February fire at its Emporia, Kansas facility, while keeping its adjusted EPS guidance of $8.75 to $9.25.
Net sales were $2,339.4 million, up 7% from $2,186.0 million; adjusted EPS was $2.38, down 9% from $2.61.
GAAP net loss was $6.79 per diluted share versus a $6.22 loss a year earlier, including a $507.5 million goodwill impairment and a $454.2 million other intangible assets impairment.
Full-year net sales growth outlook is now 3.5% to 4.0%, down from 3.5% to 4.5%, citing the Emporia, Kansas fire; adjusted EPS guidance of $8.75 to $9.25 is unchanged.
Cash provided by operations was $558.5 million versus $239.4 million a year earlier; free cash flow was $487.0 million versus $151.3 million.
TG Therapeutics reported fourth-quarter and full-year 2025 results, with total revenue of $192.6 million for the quarter and $616.3 million for the year, driven by BRIUMVI sales. Fourth-quarter net income was $23.0 million, slightly below the prior-year quarter, while full-year net income of $447.2 million includes a non-recurring income tax benefit of approximately $339.8 million. The company set a 2026 target of approximately $875-$900 million in total global revenue.
Q4 2025 total revenue was $192.6 million, versus $108.2 million in Q4 2024; full-year 2025 total revenue was $616.3 million, versus $329.0 million in 2024.
Q4 2025 net income was $23.0 million, versus $23.3 million in Q4 2024; full-year 2025 net income of $447.2 million includes a tax benefit of approximately $339.8 million.
2026 targets: total global revenue of approximately $875-$900 million and BRIUMVI U.S. net product revenue of approximately $825-$850 million.
Cash, cash equivalents and investment securities were $199.5 million as of December 31, 2025; a new share repurchase program of up to $100 million was announced.
Frontdoor reported fourth-quarter and full-year 2025 results, with full-year revenue up 14% to $2.09 billion and net income up 9% to $255 million. Fourth-quarter net income fell to $1 million from $9 million a year earlier, and the company gave 2026 revenue and Adjusted EBITDA guidance above 2025 levels.
Full-year 2025 revenue rose 14% to $2.09 billion, with organic revenue growth of 3.7%
Fourth-quarter 2025 net income was $1 million, down from $9 million; diluted EPS was $0.02 versus $0.11
2026 outlook: revenue of $2.155 billion to $2.195 billion and Adjusted EBITDA of $565 million to $580 million
Repurchased $280 million of shares in 2025; long-term Adjusted EBITDA margin outlook raised to the mid-20% range
Middleby reported fourth-quarter 2025 net sales of $866.4 million, up 4.5%, while operating income fell to $150 million from $182 million and diluted EPS from continuing operations fell to $1.72 from $2.17. The results are restated to exclude Residential Kitchen, which was sold 51% to a joint venture on February 2, 2026, and the company also gave 2026 guidance of $3.27-$3.36 billion in net sales and $9.20-$9.36 in adjusted EPS for the full year.
Q4 net sales were $866.4 million, up 4.5% from the prior year, but organic sales rose only 0.3%.
Q4 adjusted EBITDA was $197.1 million versus $226.2 million a year earlier, and adjusted EPS from continuing operations was $2.14 versus $2.53.
The Residential Kitchen sale was valued at about $885 million, with net cash proceeds of approximately $565 million and a $135 million promissory note.
2026 guidance: net sales of $3.27-$3.36 billion, adjusted EBITDA of $745-$780 million, and adjusted EPS of $9.20-$9.36.
Teleflex reported full-year 2025 continuing operations GAAP revenue of $1,992.7 million, up 17.2%, and GAAP diluted EPS of $1.31 versus $1.21, with adjusted diluted EPS of $6.98 versus $6.42. The company also began a multi-year restructuring plan tied to its Strategic Divestitures, with total charges of $31 million to $37 million and expected annual pre-tax savings of $48 million to $52 million once fully implemented. For 2026, it guided adjusted diluted EPS to $6.25 to $6.55, below the 2025 adjusted figure of $6.98, while the filing notes stranded costs of $90 million that transition agreements are expected to offset on an annualized basis.
Full-year 2025 GAAP revenue from continuing operations was $1,992.7 million, up 17.2%; adjusted revenue was $1,983.7 million, up 16.3%.
2026 guidance: GAAP diluted EPS of $2.90 to $3.20 and adjusted diluted EPS of $6.25 to $6.55, versus $6.98 adjusted EPS in 2025.
Strategic Divestitures restructuring plan carries total charges of $31 million to $37 million, with $15 million to $19 million of cash outlays expected in 2026, and substantial completion by mid-2028.
Fourth-quarter 2025 GAAP diluted loss per share from continuing operations was $0.08, compared with earnings of $0.77 in the fourth quarter of 2024.
Shentel reported fourth-quarter 2025 revenue up 7.2% to $91.6 million and a narrower net loss from continuing operations of $5.4 million, compared with $6.2 million a year earlier. For full-year 2025, revenue rose 9.1% to $357.9 million, but the net loss from continuing operations widened to $32.9 million from $28.4 million. The company also initiated 2026 guidance and announced a reduction in force of about 10% of employees.
Q4 2025 Glo Fiber Expansion Markets revenue grew 39.0% to $23.0 million; adjusted EBITDA grew 31.3% to $33.5 million.
Full-year 2025 loss per share from continuing operations was $0.71, compared with $0.59 in 2024.
Closed $567.4 million of secured fiber network revenue term notes; total available liquidity was $234.9 million as of December 31, 2025.
2026 guidance: total revenue $370 million to $377 million, adjusted EBITDA $131 million to $136 million, and capital expenditures net of grants $220 million to $250 million; the workforce reduction is expected to save $12.3 million annually
International Seaways reported fourth-quarter 2025 net income of $128 million, or $2.56 per diluted share, up from $36 million, or $0.72, a year earlier. For the full year, net income was $309 million, or $6.23 per diluted share, down from $416.7 million, or $8.38, in 2024. The board also declared a combined dividend of $2.15 per share, payable March 30, 2026, to holders of record on March 20, 2026.
Q4 2025 shipping revenues were $268 million, compared with $195 million in Q4 2024; full-year shipping revenues were $843 million, compared with $952 million in 2024.
Q4 2025 adjusted EBITDA was $175 million, compared with $95 million a year earlier; full-year adjusted EBITDA was $475 million, compared with $583 million in 2024.
The combined dividend of $2.15 per share includes a regular quarterly dividend of $0.12 and a supplemental dividend of $2.03, and is payable March 30, 2026.
Total liquidity was $724 million as of December 31, 2025, including total cash of $167 million.
Indivior reported fourth-quarter 2025 net revenue of $358 million, up 20% from a year earlier, and GAAP net income of $102 million ($0.79 per diluted share) versus $21 million a year earlier. The company also authorized a new $400 million share repurchase program and reaffirmed its full-year 2026 guidance, including net revenue of $1,125 million to $1,195 million and adjusted EBITDA of $535 million to $575 million.
Q4 2025 total SUBLOCADE net revenue was $252 million, up 30% year over year; full-year SUBLOCADE net revenue was $856 million, up 13%.
FY 2025 GAAP net income was $210 million ($1.64 per diluted share), compared with $7 million in FY 2024.
New share repurchase program of up to $400 million with a term of up to 18 months, to be made opportunistically from available cash.
Cash and investments ended Q4 2025 at $222 million, down from $347 million a year earlier, after the $295 million legacy DOJ payment.
Papa John's reported fourth quarter and full year 2025 results on February 26, 2026. Net income and diluted EPS fell sharply from 2024, while total revenues were flat for the year, and the company introduced 2026 guidance that calls for adjusted EBITDA of $200 million to $210 million, compared with $201 million in 2025.
Q4 2025 diluted EPS was $0.21 versus $0.44 a year earlier; Q4 total revenues were $498.2 million, down 6.1%.
Full year 2025 diluted EPS was $0.90 versus $2.54 in 2024; total revenues were $2.1 billion, flat year over year.
2026 outlook: North America comparable sales down 2% to 4%, International comparable sales up 2% to 4%, and adjusted EBITDA of $200 million to $210 million.
The Board declared a first quarter 2026 dividend of $0.46 per common share.
Vistra reported fourth-quarter and full-year 2025 results and issued 2026 guidance. Full-year GAAP net income fell $1,868 million to $944 million, mainly due to an $808 million unrealized pre-tax hedge loss, while Ongoing Operations Adjusted EBITDA rose $269 million to $5,912 million. Shareholders face a mixed picture: operating earnings measures improved for the year, but reported profit declined sharply and fourth-quarter results were lower than a year earlier.
Full-year 2025 net income was $944 million versus $2,812 million in 2024, including an $808 million unrealized pre-tax hedge loss.
Full-year 2025 Ongoing Operations Adjusted EBITDA was $5,912 million, up from $5,643 million, and about $112 million above the midpoint of the original guidance range.
Fourth-quarter 2025 net income was $233 million versus $490 million, and Adjusted EBITDA was $1,742 million versus $1,983 million.
2026 guidance: Ongoing Operations Adjusted EBITDA of $6.8 billion to $7.6 billion and Adjusted FCFbG of $3.925 billion to $4.725 billion, excluding any impact from the Cogentrix assets.
Warby Parker reported fourth-quarter and full-year 2025 results, with full-year net revenue up 13.0% to $871.9 million and net income of $1.6 million, its first full year of positive net income. The company also authorized a $100 million share repurchase program and gave 2026 guidance of $959 million to $976 million in net revenue and $117 million to $119 million in Adjusted EBITDA.
Full-year 2025 net revenue rose $100.6 million, or 13.0%, to $871.9 million; fourth-quarter revenue rose 11.2% to $212.0 million.
Full-year 2025 net income was $1.6 million, compared with a net loss of $20.4 million in 2024; fourth-quarter net loss narrowed to $6.0 million.
Gross margin fell to 54.0% for the year from 55.3%, which the company attributed mainly to tariff costs on glasses.
The Board authorized repurchases of up to $100.0 million of Class A common stock with no fixed expiration date.
Perrigo reported fourth-quarter 2025 net sales of $1.11 billion, down 2.5% year over year, and a reported net loss of $1.41 billion, or $(10.20) per share, driven mainly by a $1.3 billion goodwill impairment. Adjusted EPS fell to $0.77 from $0.93, and the company's FY2026 'All In' adjusted diluted EPS outlook of $2.00 to $2.30 is below the FY2025 adjusted EPS of $2.75.
Q4 2025 net sales were $1.11 billion, down 2.5%; organic net sales fell 4.5%, with infant formula a key drag.
Reported Q4 EPS was $(10.20) versus $(0.30) a year earlier, due primarily to the $1.3 billion goodwill impairment.
FY2026 'All In' net sales outlook is -5.5% to -1.5%; the 'CORE' adjusted EPS outlook is $2.25 to $2.55 versus FY2025 CORE adjusted EPS of $2.52.
The company plans a two-year operational enhancement program with about 7% workforce reduction and $80 million to $100 million in pre-tax annualized savings by the end of FY2027.
Certara reported fourth-quarter 2025 revenue of $103.6 million, up 3%, but swung to a net loss of $5.9 million from net income of $6.6 million a year earlier. It also guided full-year 2026 revenue growth of 0-4% and adjusted diluted EPS of $0.44-$0.48, with adjusted EPS for 2025 at $0.44. Shareholders face flat-to-modest growth guidance and lower profit, with new CEO Jon Resnick, effective January 1, 2026, describing 2026 as a year of transition and investment.
Q4 2025 revenue was $103.6 million, up 3%; software revenue rose 10% to $46.4 million and services revenue fell 1% to $57.3 million.
Q4 2025 net loss was $5.9 million, versus net income of $6.6 million in Q4 2024; adjusted diluted EPS was $0.09, versus $0.15.
Full-year 2025 revenue was $418.8 million, up 9%; full-year adjusted diluted EPS was $0.44, versus $0.45 in 2024.
2026 guidance: revenue growth of 0-4%, adjusted EBITDA margin of 30-32%, and adjusted diluted EPS of $0.44-$0.48.
Enovis reported full-year 2025 net sales of $2.2 billion, up 7% on a reported basis, but a $1.05 billion non-cash goodwill impairment pushed its net loss from continuing operations to $1,182 million. The company also gave 2026 guidance of $2.31-2.37 billion in revenue, $425-435 million in adjusted EBITDA and $3.52-3.73 in adjusted earnings per share, which shareholders can compare with the 2025 results.
Full-year 2025 net sales of $2.2 billion grew 7% reported and 6% organically; Recon rose 10% and Prevention & Recovery rose 4%.
Full-year 2025 net loss from continuing operations was $1,182 million, including a $1,050 million non-cash goodwill impairment charge.
Full-year 2025 adjusted earnings per diluted share were $3.30, compared with $2.84 in 2024; GAAP loss was $20.72 per share.
2026 outlook: revenue of $2.31-2.37 billion, adjusted EBITDA of $425-435 million and adjusted EPS of $3.52 to $3.73.
Integra LifeSciences reported fourth-quarter 2025 revenue of $434.9 million, down 1.7%, with adjusted earnings of $0.83 per diluted share versus $0.97 a year earlier. Full-year 2025 GAAP net loss was $516.5 million, driven mainly by a $511 million non-cash goodwill impairment charge, while full-year adjusted earnings fell to $2.23 per share from $2.56. The company guided 2026 adjusted earnings to $2.30 to $2.40 per diluted share, which shareholders can compare against the 2025 result.
Q4 2025 revenue $434.9 million, down 1.7% reported and 2.5% organic; GAAP loss of $(0.02) per diluted share
Full-year 2025 revenue $1,635.2 million, up 1.5% reported; GAAP net loss $516.5 million, or $(6.74) per share
2026 guidance: revenue $1,662 million to $1,702 million; adjusted EPS $2.30 to $2.40
Net debt about $1.6 billion at December 31, 2025; consolidated total leverage ratio 4.5x
Fortrea reported fourth-quarter and full-year 2025 results and issued 2026 guidance. Full-year revenue rose to $2,723.4 million, but the net loss reached $986.2 million after an $797.9 million goodwill impairment, and full-year adjusted EBITDA fell to $189.9 million from $202.5 million. The company guided 2026 revenue of $2,550 million to $2,650 million and adjusted EBITDA of $190 million to $220 million.
Fourth-quarter revenue was $660.5 million, down from $697.0 million a year earlier; fourth-quarter adjusted diluted EPS was $0.09 versus $0.18.
Full-year 2025 GAAP net loss was $(986.2) million, or $(10.81) per diluted share, including a $797.9 million goodwill impairment recognized in the first half of 2025.
Full-year 2025 adjusted diluted EPS was $0.43, up from $0.33 in 2024; adjusted EBITDA was $189.9 million versus $202.5 million.
2026 guidance: revenue of $2,550 million to $2,650 million and adjusted EBITDA of $190 million to $220 million; earnings call set for 8:00 am ET on February 26, 2026.
Qnity reported fourth-quarter and full-year 2025 results, with full-year net sales up 10% to $4.75 billion and adjusted pro forma EPS up 12% to $3.35, while fourth-quarter GAAP net income fell to $109 million from $221 million. The company also gave 2026 guidance, announced a multi-year transformation plan, and authorized up to $500 million in share repurchases.
Full-year 2025 GAAP net income was $729 million, up 1%, and GAAP diluted EPS was $3.30 versus $3.31 in 2024.
Fourth-quarter 2025 GAAP net income was $109 million versus $221 million a year earlier; diluted EPS was $0.48 versus $1.02.
2026 guidance: net sales of $4.97 billion to $5.17 billion and adjusted EPS of $3.55 to $3.95.
The transformation plan targets about $100 million in run-rate Adjusted Operating EBITDA benefit by the end of 2028, with about $140 million in costs over two to three years.
Acushnet reported full-year 2025 net sales of $2.56 billion, up 4.1%, while net income attributable to the company fell 12.0% to $188.5 million. Fourth-quarter net sales rose 7.2% to $477.2 million, but the company posted a net loss of $34.9 million, which included a $17.0 million loss on debt extinguishment. The company also raised its quarterly dividend 8.5% to $0.255 per share and gave 2026 guidance of $2,625 million to $2,675 million in net sales and $415 million to $435 million in Adjusted EBITDA.
Full-year 2025 Adjusted EBITDA was $410.4 million, up 1.5%, with an Adjusted EBITDA margin of 16.0% versus 16.5% a year earlier.
Fourth-quarter Adjusted EBITDA was $9.8 million, down 21.0% from $12.4 million, and net loss attributable to the company was $34.9 million versus $1.1 million a year earlier.
The quarterly cash dividend rises to $0.255 per share, payable March 20, 2026 to holders of record as of March 6, 2026.
2026 outlook calls for net sales of $2,625 million to $2,675 million, up 3.6% at the midpoint on a reported basis, and Adjusted EBITDA of $415 million to $435 million.
First Advantage reported fourth-quarter 2025 revenue of $420.0 million, up from $307.1 million a year earlier, and net income of $3.5 million, compared with a net loss of $100.4 million in the prior-year quarter. For full-year 2025, revenue rose to $1,574.4 million from $860.2 million, while the company posted a net loss of $34.8 million, narrower than the $110.3 million loss in 2024. The board also approved a $100 million share repurchase program and the company introduced 2026 guidance for revenue of $1,625 million to $1,700 million.
Q4 2025 diluted EPS was $0.02 versus a loss of $0.62 in Q4 2024; Q4 Adjusted Diluted EPS was $0.30 versus $0.18
Full-year 2025 revenue was $1,574.4 million; the net loss was $34.8 million, or $(0.20) per diluted share
Board approved a share repurchase program of up to $100 million with no expiration date
2026 guidance: revenue of $1,625 million to $1,700 million and Adjusted Diluted EPS of $1.15 to $1.25
Kinetik reported fourth-quarter 2025 total operating revenues of $430.4 million, up from $385.7 million a year earlier, and Adjusted EBITDA of $252.1 million, up from $237.5 million. Quarterly net income was driven by a $415.4 million gain on the sale of its EPIC Crude equity interest, and the company guided 2026 Adjusted EBITDA to $950 million to $1,050 million, which it said is a 7% increase at the midpoint.
Q4 2025 diluted EPS was $2.16 versus $0.01 in Q4 2024; Adjusted EBITDA was $252.1 million versus $237.5 million.
Net income including noncontrolling interest of $416.7 million includes a $415.4 million gain from the EPIC Crude divestiture completed October 31, 2025.
Full-year 2025 Adjusted EBITDA was $987.7 million; Q4 2025 Free Cash Flow was $(12.0) million versus $32.5 million a year earlier.
2026 guidance calls for Adjusted EBITDA of $950 million to $1,050 million and capital expenditures of $450 million to $510 million.
Ormat reported fourth-quarter 2025 revenue of $276.0 million, up 19.6%, led by Product and Energy Storage growth. Fourth-quarter GAAP diluted EPS fell to $0.50 from $0.67, and the company cited $12 million in impairment charges. The company also issued 2026 guidance calling for total revenues of $1,110 million to $1,160 million and Adjusted EBITDA of $615 million to $645 million.
Q4 2025 total revenues were $276.0 million, up 19.6% from $230.7 million; GAAP diluted EPS was $0.50 versus $0.67 a year earlier.
Full-year 2025 revenues were $989.6 million, up 12.5%; net income attributable to stockholders was $123.9 million, or $2.02 per diluted share, versus $2.04 in 2024.
2026 guidance: total revenues of $1,110 million to $1,160 million and Adjusted EBITDA of $615 million to $645 million.
Quarterly dividend of $0.12 per share, payable March 24, 2026, to holders of record as of March 10, 2026.
VSE Corporation reported fourth-quarter and full-year 2025 results on February 25, 2026, with revenue, GAAP net income and diluted EPS all higher than in 2024. The company also issued 2026 guidance that excludes the pending Precision Aviation Group acquisition, which is expected to close in the second quarter of 2026. For shareholders, the results show strong growth, though full-year free cash flow was only $6 million.
Q4 2025 revenue was $301.2 million, up 32%, and GAAP diluted EPS was $0.98 versus $0.51 a year earlier.
Full-year 2025 revenue was $1.1 billion, up 41%, with GAAP net income of $53.5 million and GAAP diluted EPS of $2.52.
2026 guidance excluding PAG calls for revenue growth of about 19% to 23% and Adjusted EBITDA margin of 16.8% to 17.3%.
Full-year 2025 operating cash flow was $27 million and free cash flow was $6 million; net debt was $223 million.
Donaldson reported second quarter fiscal 2026 results for the quarter ended January 31, 2026. Net sales rose 3.0% to $896.3 million, but GAAP net earnings fell 3.6% to $92.5 million and diluted EPS slipped to $0.78 from $0.79. The company lowered its adjusted fiscal 2026 EPS range and adjusted operating margin guidance, and agreed to acquire Facet for approximately $820 million in cash, expected to close in the second half of fiscal 2026.
Q2 net sales of $896.3 million, up 3.0%; GAAP net earnings of $92.5 million versus $95.9 million a year ago
Adjusted diluted EPS of $0.83, flat versus the prior year quarter
Adjusted fiscal 2026 EPS guidance narrowed to $3.93 to $4.01 from $3.95 to $4.11; adjusted operating margin guidance lowered to 16.0% to 16.4% from 16.2% to 16.8%
All-cash agreement to acquire Facet for approximately $820 million, expected to close in the second half of fiscal 2026
LeMaitre Vascular reported preliminary fourth-quarter 2025 sales of $64.5 million, up 16%, with operating income of $18.8 million, up 47%. The company also guided to 2026 full-year sales of $276 million to $284 million and diluted EPS of $2.81 to $3.01, and raised its quarterly dividend 25% and authorized a $100.0 million share repurchase program.
Q4 2025 diluted EPS was $0.68, up 39% from the prior-year quarter, and gross margin was 71.7%, up 240 basis points.
Full-year 2026 guidance calls for sales of $276 million to $284 million and diluted EPS of $2.81 to $3.01.
On February 19, 2026, the board raised the quarterly dividend 25% to $0.25 per share, payable March 26, 2026, and authorized up to $100.0 million in buybacks through February 18, 2027.
Crescent Energy reported full-year 2025 net income attributable to the company of $132.9 million, compared with a $114.6 million loss in 2024, and a fourth-quarter net loss of $8.7 million, compared with a $118.0 million loss a year earlier. The company also issued 2026 guidance, including production of 320 to 335 MBoe/d, and raised its share repurchase authorization to $400 million, which gives it more room to buy back stock.
Full-year 2025 net income attributable to Crescent was $132.9 million, or $0.54 per diluted Class A share, versus a $114.6 million loss in 2024
Fourth-quarter 2025 net loss attributable to Crescent was $8.7 million, or $0.03 per share, versus a $118.0 million loss in the fourth quarter of 2024; fourth-quarter revenue was $865 million versus $875 million a year earlier
2026 guidance calls for total production of 320 to 335 MBoe/d and development capital of $1,325 million to $1,425 million
Board raised the share repurchase authorization to $400 million from $150 million and extended the program indefinitely; a $0.12 per share dividend is payable March 25, 2026
Ingevity reported a full-year 2025 net loss of $167.1 million, which the company attributed mainly to non-cash special charges tied to Advanced Polymer Technologies and Road Markings. Net sales from continuing operations fell 2.7% to $1.2 billion, while adjusted EPS from continuing operations rose 1.7% to $4.13. The company also gave 2026 guidance of adjusted EPS of $4.80 to $5.20 and said it has begun exploring strategic alternatives for those two businesses, which could change the company's portfolio.
Full-year 2025 net sales from continuing operations were $1.2 billion, down 2.7%; net loss from continuing operations was $150.3 million.
Fourth-quarter net loss of $84.6 million included $109.3 million in pre-tax non-cash special charges related to Road Markings.
2026 outlook: net sales of $1.1 billion to $1.2 billion, adjusted EBITDA of $380 million to $400 million, and adjusted EPS of $4.80 to $5.20.
Full-year 2025 free cash flow was $273.5 million; 2026 free cash flow is expected at $225 million to $250 million, excluding about $95 million in BASF litigation-related payments.
Chemed reported fourth-quarter 2025 revenue of $639.3 million, essentially flat year over year, while GAAP diluted EPS fell 9.0% to $5.48 and adjusted diluted EPS fell 6.0% to $6.42. The company guided to 2026 adjusted diluted EPS of $23.25 to $24.25, compared with 2025 adjusted EPS of $21.55, and said 55% of 2026 adjusted net income and adjusted EBITDA before Medicare Cap is expected in the second half.
Q4 2025 revenue was $639.3 million, essentially flat; GAAP diluted EPS was $5.48, down 9.0%, and adjusted diluted EPS was $6.42, down 6.0%.
VITAS net patient revenue rose 1.9% to $418.8 million, while Roto-Rooter revenue fell 3.7% to $220.6 million.
2026 guidance: adjusted diluted EPS of $23.25 to $24.25, versus $21.55 in 2025; Roto-Rooter adjusted EBITDA margin expected at 22.5% to 23.0%.
During the quarter the company repurchased 400,000 shares for $174.6 million; $127.3 million of repurchase authorization remained at December 31, 2025.
California Water Service Group reported fourth-quarter 2025 net income of $11.5 million, or $0.19 per diluted share, down 42% from $19.7 million, or $0.33, a year earlier, as revenue slipped to $220.0 million from $222.2 million. For the full year, net income fell to $128.2 million, or $2.15 per diluted share, from $190.8 million, or $3.25, and the company cited wet December weather and lower customer consumption. The company also agreed to buy Nexus Water Group's Nevada and Oregon subsidiaries for about $218 million, a deal expected to add about 36,000 connections and about $109 million to rate base, with closing targeted by the end of 2026 pending regulatory approvals.
Q4 2025 net income $11.5 million, or $0.19 per diluted share, versus $19.7 million, or $0.33, in Q4 2024
Full-year 2025 net income $128.2 million, or $2.15 per diluted share, versus $190.8 million, or $3.25, in 2024
Nexus acquisition price about $218 million, subject to closing adjustments; expected to close by end of 2026
Annual dividend raised to $1.24 per share, the 58th consecutive annual dividend, per the earnings release
Marriott Vacations Worldwide reported fourth quarter and full year 2025 results on February 25, 2026, including a fourth quarter net loss attributable to common stockholders of $431 million, compared with net income of $50 million a year earlier, driven by a $546 million non-cash impairment charge. Adjusted diluted earnings per share fell to $1.86 from $1.98, and the company issued full year 2026 guidance for adjusted EBITDA of $755 million to $780 million.
Q4 2025 net loss attributable to common stockholders was $431 million, or $12.43 per diluted share, versus net income of $50 million in Q4 2024.
Q4 2025 adjusted diluted EPS was $1.86, down from $1.98; consolidated contract sales were $458 million, down 4%.
Full year 2025 adjusted EBITDA was $751 million; 2026 guidance calls for adjusted EBITDA of $755 million to $780 million and adjusted diluted EPS of $7.05 to $7.80.
The company will hold a conference call on February 26, 2026 at 8:00 a.m. ET and plans to post a new investor presentation on its website that day.
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