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).
Centene reported fourth-quarter and full-year 2025 results in a February 6, 2026 press release furnished under this 8-K. The full-year GAAP diluted loss of $13.53 per share reflected a $6.7 billion goodwill impairment, while adjusted diluted EPS was $2.08, and the company guided to 2026 adjusted diluted EPS greater than $3.00.
Full-year 2025 premium and service revenues rose 20% to $174.6 billion, and total revenues were $194.8 billion.
Full-year 2025 adjusted diluted EPS was $2.08, compared with $7.17 in 2024; the GAAP loss was driven by the $6.7 billion goodwill impairment.
Fourth-quarter 2025 GAAP diluted loss was $(2.24) per share and adjusted diluted loss was $(1.19) per share; the consolidated HBR was 94.3%.
2026 guidance calls for GAAP diluted EPS greater than $1.98, adjusted diluted EPS greater than $3.00, and total revenues of $186.5 billion to $190.5 billion.
Carlyle reported unaudited fourth-quarter and full-year 2025 results, with Q4 net income attributable to common stockholders up from $211 million a year earlier and full-year figures mixed. Full-year 2025 revenue was $4.78 billion, down from $5.43 billion in 2024, and full-year diluted EPS was $2.18 versus $2.77, while Fee Related Earnings rose 12% to $1.2 billion. The Board also declared a quarterly dividend of $0.35 per share.
Q4 2025 net income attributable to common stockholders was $358 million, or $0.96 per diluted share, versus $211 million, or $0.57, in Q4 2024
FY 2025 net income attributable to common stockholders was $809 million, or $2.18 per diluted share, versus $1.02 billion, or $2.77, in FY 2024
Fee Related Earnings were $290 million in Q4 2025 and $1.2 billion for FY 2025, up 12% from $1.1 billion in FY 2024
Quarterly dividend of $0.35 per common share is payable February 20, 2026, to holders of record on February 16, 2026
Post Holdings reported first-quarter fiscal 2026 net sales of $2.2 billion, up 10.1%, and raised its fiscal 2026 Adjusted EBITDA outlook to $1,550-$1,580 million from $1,500-$1,540 million. GAAP net earnings fell 14.6% to $96.8 million, and the company also board-approved a new $500 million share repurchase authorization and appointed two directors.
Net sales were $2,174.6 million, up 10.1% from $1,974.7 million; Adjusted EBITDA rose 13.1% to $418.2 million.
Net earnings were $96.8 million, down 14.6%; diluted EPS was $1.71 versus $1.78, while Adjusted diluted EPS was $2.13 versus $1.73.
Board approved a $500 million share repurchase authorization effective February 7, 2026, and cancelled the existing authorization effective February 6, 2026; $377.9 million had been repurchased under the existing one as of February 4, 2026.
Michelle M. Atkinson and Jeff A. Zadoks were appointed directors effective March 15, 2026, bringing the Board to nine members.
AptarGroup reported fourth-quarter 2025 results with sales up 14% to $963 million, but reported net income fell 26% to $74 million and reported diluted EPS fell 24% to $1.13. Adjusted EPS was $1.25 versus $1.62 a year earlier, and the company set first-quarter 2026 adjusted EPS guidance of $1.13 to $1.21 while approving a new $600 million share repurchase authorization.
Q4 reported sales rose 14% to $963 million; core sales rose 5%, with all three segments showing core sales growth
Q4 reported diluted EPS was $1.13 versus $1.49 a year earlier; adjusted EPS was $1.25 versus $1.62
Q1 2026 adjusted EPS guidance is $1.13 to $1.21, assuming a 21.0% to 23.0% effective tax rate
Board approved a new authorization to repurchase up to $600 million of common stock; Q4 repurchases totaled $175 million
Camden Property Trust reported fourth quarter 2025 EPS of $1.44 per diluted share, up from $0.37, and Core FFO of $1.76 per share, up from $1.73. EPS was lifted by a gain of approximately $128.0 million on property sales, and the company also gave initial 2026 Core FFO guidance of $6.60 to $6.90 per share, with a midpoint of $6.75, below the 2025 actual of $6.88.
Q4 2025 EPS was $1.44 per diluted share vs $0.37 in Q4 2024; the quarter included a gain of approximately $128.0 million on sale of operating properties.
Q4 2025 Core FFO was $1.76 per diluted share vs $1.73; same property NOI growth was 0.0% year over year.
2026 Core FFO guidance is $6.60 to $6.90 per share (midpoint $6.75) vs 2025 actual of $6.88; 2026 same property NOI guidance midpoint is (0.50)%.
Board declared a first quarter 2026 dividend of $1.06 per share, payable April 17, 2026 to holders of record as of March 31, 2026.
Unum Group reported fourth-quarter 2025 net income of $174.1 million ($1.04 per diluted share), down from $348.7 million ($1.92 per diluted share) a year earlier, and included an $82.0 million after-tax pension settlement loss. The company forecast 2026 after-tax adjusted operating income of $8.60 to $8.90 per share, which it says represents growth of about 8% to 12% over its redefined 2025 result of $7.93 per share.
Q4 2025 net income was $174.1 million ($1.04 per diluted share), compared with $348.7 million ($1.92 per diluted share) in Q4 2024.
Q4 2025 included an $82.0 million after-tax settlement loss ($0.49 per diluted share) on the U.S. pension plan annuity purchase.
2026 outlook: after-tax adjusted operating income of $8.60 to $8.90 per share, versus a redefined 2025 result of $7.93 per share.
Book value per common share was $67.11 at December 31, 2025, up from $61.38 a year earlier; 2025 shareholder returns totaled about $1.3 billion, including $1.0 billion of share repurchases.
Coty reported fiscal second-quarter 2026 results, with net revenue up 1% on a reported basis but down 3% like-for-like, and a reported net loss of $126.9 million compared with net income of $20.4 million a year earlier. The company withdrew its prior fiscal 2026 EBITDA and free cash flow guidance and will give outlook only for the third quarter, under interim CEO Markus Strobel, which leaves shareholders with less visibility on full-year results.
Q2 net revenue of $1,678.6 million rose 1% reported and fell 3% like-for-like; adjusted EBITDA of $330.2 million fell 15%
Reported net loss of $126.9 million vs. net income of $20.4 million a year earlier; adjusted EPS of $0.14 vs. $0.11
FY26 EBITDA and free cash flow guidance withdrawn; Q3 adjusted EBITDA expected at $100 million to $110 million
Markus Strobel became Executive Chairman and Interim CEO effective January 1, 2026; Wella stake sold to KKR for $750 million upfront
Equity Residential reported fourth-quarter 2025 diluted EPS of $1.00, down from $1.10, while normalized FFO per share rose to $1.03 from $1.00 and full-year 2025 EPS rose to $2.94 from $2.72. The company guided 2026 normalized FFO per share to $4.02 to $4.14, but 2026 EPS guidance of $1.44 to $1.56 implies a 49.0% decline at the midpoint versus 2025. The filing names Equity Residential (NYSE: EQR), not VIVMARK RESIDENTIAL (VMRK) as stated in the request; the summary reflects the filing.
Q4 2025 diluted EPS was $1.00 versus $1.10 a year earlier; normalized FFO per share was $1.03 versus $1.00.
Full-year 2025 diluted EPS was $2.94 versus $2.72; normalized FFO per share was $3.99 versus $3.89.
2026 guidance: EPS $1.44 to $1.56 (midpoint down 49.0% versus 2025); normalized FFO $4.02 to $4.14 (midpoint up 2.3%).
During 2025 the company repurchased about 4.8 million common shares for about $300.0 million.
Cousins Properties reported fourth quarter 2025 results on February 5, 2026. Funds From Operations (FFO) rose to $119.5 million, or $0.71 per share, from $108.9 million, or $0.69, a year earlier, while the company posted a net loss to common stockholders of $3.5 million, or $0.02 per share, compared with net income of $13.6 million, or $0.09, because of impairment charges. The company also gave initial 2026 guidance of $2.87 to $2.97 in FFO per share, which shareholders will weigh against the impairment-driven drop in GAAP earnings.
Q4 2025 FFO was $119.5 million, or $0.71 per share, up from $108.9 million, or $0.69, in Q4 2024.
Q4 2025 net loss to common stockholders was $3.5 million, or $0.02 per share, versus net income of $13.6 million, or $0.09, attributed to impairment charges.
Full-year 2025 FFO was $478.4 million, or $2.84 per share, compared with $414.1 million, or $2.69, in 2024.
2026 guidance: net income of $0.23 to $0.33 per share and FFO of $2.87 to $2.97 per share.
Bloom Energy reported fourth-quarter 2025 revenue of $777.7 million, up 35.9% from a year earlier, and full-year 2025 revenue of $2.02 billion, up 37.3%. Profit weakened: fourth-quarter net income attributable to common stockholders was $1.1 million versus $104.8 million a year earlier, and the company recorded $66.2 million of debt conversion inducement expense, with full-year 2025 GAAP net loss widening to $88.4 million. The company also issued full-year 2026 outlook for revenue of $3.1 billion to $3.3 billion and non-GAAP EPS of $1.33 to $1.48.
Q4 2025 revenue $777.7 million, up 35.9% from $572.4 million in Q4 2024; Q4 GAAP gross margin 30.8%, down 7.5 percentage points year over year
Q4 2025 GAAP diluted EPS $0.00 versus $0.38 in Q4 2024; full-year 2025 GAAP diluted EPS $(0.37) versus $(0.13) in 2024
Molina Healthcare reported a fourth-quarter 2025 GAAP loss of $3.15 per diluted share and full-year 2025 adjusted earnings of $11.03 per share, down 51% from the prior year. For 2026, it guided to adjusted earnings of at least $5.00 per diluted share and premium revenue of about $42 billion, a roughly 2% decline, and said it will exit its traditional Medicare Advantage Part D product for 2027.
Q4 2025 GAAP loss of $3.15 per diluted share and adjusted loss of $2.75, burdened by about $2.00 of unfavorable retroactive revenue items
Full-year 2025 total revenue of $45.4 billion, up from $40.7 billion, while GAAP EPS fell to $8.92 from $20.42
2026 guidance: GAAP EPS of at least $3.20 and adjusted EPS of at least $5.00, burdened by $2.50 per share from a new Florida Medicaid contract and the Part D product
Company will exit the MAPD product, which has about $1 billion in annual premium, for 2027
Impinj reported fourth-quarter 2025 revenue of $92.8 million, up from $91.6 million a year earlier, and a GAAP net loss of $1.1 million, narrower than the $2.7 million loss in the prior-year quarter. For full-year 2025, revenue fell to $361.1 million from $366.1 million and the company swung to a GAAP net loss of $10.8 million, compared with net income of $40.8 million in 2024, which included $45.0 million of litigation settlement income. The company guided first-quarter 2026 revenue to $71.0 million-$74.0 million and a GAAP net loss of $15.1 million-$16.6 million.
Q4 2025 revenue of $92.8 million vs. $91.6 million in Q4 2024; GAAP net loss of $1.1 million, or $0.04 per diluted share
Full-year 2025 revenue of $361.1 million vs. $366.1 million in 2024; GAAP net loss of $10.8 million, or $0.37 per diluted share
Full-year 2025 adjusted EBITDA of $69.6 million vs. $65.9 million in 2024
Q1 2026 outlook: revenue of $71.0 million-$74.0 million; non-GAAP net income of $2.5 million-$4.0 million
Power Integrations reported fourth-quarter 2025 net revenue of $103.2 million, down 2% from a year earlier and down 13% from the prior quarter, while full-year 2025 revenue rose 6% to $443.5 million. The company also approved a reduction of about 7% of its global workforce, with $3.5 million to $4.0 million of severance costs expected in the first quarter of 2026, and guided first-quarter 2026 revenue to $104 million to $109 million.
Q4 2025 GAAP net income was $13.3 million, or $0.24 per diluted share, versus $0.16 a year earlier and a $0.02 loss in the prior quarter.
Full-year 2025 GAAP net income was $22.1 million, or $0.39 per diluted share, versus $0.56 in 2024.
Reduction in force terminated about 7% of global workforce on February 2, 2026, with costs of $3.5 million to $4.0 million expected mainly in Q1 2026.
Balu Balakrishnan stepped down as Chairman; Balakrishnan S. Iyer was appointed Chairman, and the Board will no longer have a Lead Independent Director.
CNO Financial Group reported fourth quarter 2025 net income of $93 million, or $0.95 per diluted share, down from $183 million, or $1.74, a year earlier, mainly due to non-economic accounting impacts from market volatility. Net operating income, a non-GAAP measure that excludes those items, rose to $143 million, or $1.47 per diluted share, from $1.31 per share in the prior-year quarter. The company said it achieved, and in most cases exceeded, its 2025 guidance metrics.
Q4 2025 net income was $93 million ($0.95 per diluted share), versus $183 million ($1.74) in Q4 2024.
Q4 2025 net operating income was $143 million ($1.47 per diluted share), up 12% per share from $1.31.
Full-year 2025 net income was $229 million ($2.30 per diluted share), versus $421 million ($3.89) in 2024, including a $101.9 million goodwill and other asset impairment.
Full-year 2025 net operating income was $439 million ($4.40 per diluted share), up 11% per share; the company returned $386 million to shareholders.
News Corp reported fiscal second-quarter results for the three months ended December 31, 2025, with revenue up 6% to $2.36 billion and Total Segment EBITDA up 9% to $521 million. Net income from continuing operations fell 21% to $242 million, mainly because the prior year included an $87 million gain on REA Group's sale of PropertyGuru, and reported EPS from continuing operations was $0.34 versus $0.40 a year earlier.
Revenue was $2.36 billion, up 6% from $2.24 billion a year earlier.
Net income from continuing operations was $242 million, down 21% from $306 million, due to the absence of an $87 million prior-year gain.
Reported EPS from continuing operations was $0.34 versus $0.40; adjusted EPS was $0.40 versus $0.33.
The company declared a semi-annual cash dividend of $0.10 per share, payable April 8, 2026 to holders of record as of March 11, 2026.
MGM Resorts reported fourth-quarter and full-year 2025 results on February 5, 2026. Fourth-quarter net income attributable to MGM Resorts rose to $294 million from $157 million, while full-year net income fell to $206 million from $747 million, weighed down by a $279 million goodwill impairment and $303 million in net other non-operating expense. The company also repurchased over $1.2 billion of shares in 2025, leaving $1.6 billion of authorization as of December 31, 2025.
Q4 2025 consolidated net revenues were $4.6 billion, up 6%, and diluted EPS was $1.11 versus $0.52 a year earlier
Full-year 2025 diluted EPS was $0.76 versus $2.40, while full-year Adjusted EPS rose to $3.31 from $2.59
Full-year 2025 Consolidated Adjusted EBITDA was $2.4 billion, up 1%, and net revenues were $17.5 billion, up 2%
Repurchased 37.5 million shares in 2025; $1.6 billion remained under the April 2025 plan as of December 31, 2025
Strategy Inc reported a fourth-quarter 2025 operating loss of $17.4 billion, which includes an unrealized loss on its digital assets, compared with a $1.0 billion operating loss a year earlier. The company also set a monthly framework for recommending changes to the STRC preferred stock dividend rate, tied to the stock's volume-weighted average price near its $100 stated amount.
Net loss of $12.4 billion, or $42.93 per diluted common share, versus a net loss of $670.8 million, or $3.03 per share, in Q4 2024
Total revenues of $123.0 million, up 1.9% year over year; gross profit of $81.3 million, down from $86.5 million a year earlier
Holds 713,502 bitcoin; market price of about $83,740 per bitcoin as of January 30, 2026
STRC dividend rate is 11.25%; any rate change under the new framework requires board approval
Synaptics reported fiscal second-quarter 2026 revenue of $302.5 million, up 13% from a year earlier, with Core IoT product sales up 53%. The company posted a GAAP net loss of $14.8 million, or $0.38 per share, compared with a profit of $1.8 million a year earlier, while non-GAAP diluted earnings per share rose to $1.21 from $0.92. Its third-quarter outlook calls for revenue of $290 million plus or minus $10 million and non-GAAP earnings per share of $1.00 plus or minus $0.15, both below the second-quarter results.
Q2 fiscal 2026 net revenue was $302.5 million, up from $267.2 million in the prior-year quarter
GAAP net loss was $14.8 million ($0.38 per share), compared with net income of $1.8 million ($0.05 per share) a year earlier
Non-GAAP diluted earnings per share were $1.21, up from $0.92
Third-quarter fiscal 2026 guidance: revenue of $290 million ±$10 million; GAAP loss per share of ($0.46) ±$0.25
Boyd Gaming reported fourth-quarter 2025 revenue of $1.1 billion, up from $1.0 billion a year earlier, but net income attributable to the company fell to $140.4 million, or $1.79 per share, from $170.5 million, or $1.92 per share. Adjusted earnings per share rose to $2.21 from $1.96, while total Adjusted EBITDAR fell to $336.6 million from $379.3 million; for the full year, the $1.4 billion after-tax FanDuel gain drove net income of $1.8 billion.
Q4 2025 revenues were $1.1 billion versus $1.0 billion in Q4 2024; Q4 Adjusted EBITDAR was $336.6 million versus $379.3 million.
Q4 2025 net income attributable to Boyd Gaming was $140.4 million, or $1.79 per share, versus $1.92 per share a year earlier; Adjusted EPS was $2.21 versus $1.96.
Full-year 2025 net income was $1.8 billion, or $22.56 per share, including a $1.4 billion after-tax gain from the FanDuel equity sale and $128.4 million in pretax impairment charges.
The company repurchased $185 million of shares in Q4 2025 and had about $362 million remaining under current authorizations as of December 31, 2025.
CleanSpark reported results for the quarter ended December 31, 2025, with revenue of $181.2 million, up $18.9 million or 11.6% from a year earlier. The company posted a net loss of $378.7 million, or $1.35 per basic share, compared with net income of $246.8 million, or $0.85 per basic share, in the prior-year period. For shareholders, higher revenue was offset by a sharp swing to a loss, which the filing ties in part to a $246.8 million loss on the fair value of bitcoin.
Revenue: $181.2 million, up 11.6% from $162.3 million
Net loss: $378.7 million, or $1.35 per basic share, versus net income of $246.8 million, or $0.85 per share, a year earlier
Adjusted EBITDA (non-GAAP): ($295.4) million, versus $321.6 million a year earlier
Cash of $458.1 million and total long-term debt, net, of $1.8 billion as of December 31, 2025
Digital Realty reported fourth-quarter 2025 revenue of $1.6 billion, up 14% from a year earlier, and diluted net income available to common stockholders of $0.24 per share, down from $0.51 a year earlier. It introduced a 2026 Core FFO per share outlook of $7.90-$8.00, and Core FFO per share was $1.86 for the quarter, compared with $1.73 a year earlier.
Revenue was $1.6 billion in Q4 2025, up 4% from Q3 2025 and up 14% from Q4 2024.
Diluted net income per share available to common stockholders was $0.24, compared with $0.15 in Q3 2025 and $0.51 in Q4 2024.
Core FFO per share was $1.86, compared with $1.89 in Q3 2025 and $1.73 in Q4 2024; the 2026 Core FFO outlook is $7.90-$8.00 per share.
The company signed bookings expected to generate $400 million of annualized GAAP rental revenue at 100% share, and reported a backlog of $817 million at Digital Realty's share.
Flowserve reported fourth quarter 2025 net loss attributable to the company of $29.0 million, or $0.23 per diluted share, versus earnings of $0.59 per share a year earlier, after a $140.1 million loss on divesting asbestos-related assets and liabilities. Adjusted EPS rose to $1.11 from $0.70, and sales rose 3.5% to $1.22 billion. The company also initiated 2026 guidance for adjusted EPS of $4.00 to $4.20 and agreed to buy Trillium Flow Technologies' Valves Division for $490 million in cash, with closing expected mid-year 2026.
Q4 2025 reported EPS was a loss of $0.23 versus $0.59 in Q4 2024; adjusted EPS was $1.11 versus $0.70.
Full year 2025 sales were $4.73 billion, up 3.8%, and full year diluted EPS was $2.64 versus $2.14.
2026 guidance: total sales growth of 5% to 7% and adjusted EPS of $4.00 to $4.20.
Trillium Valves acquisition for $490 million in cash, subject to customary closing conditions and regulatory approvals, with closing expected mid-year 2026.
Exponent reported fourth-quarter 2025 revenue up 7.8% to $147.4 million and net income of $24.8 million, or $0.49 per diluted share, versus $0.46 a year earlier. For fiscal 2025, net income fell to $106.0 million, or $2.07 per diluted share, from $109.0 million, or $2.11, even as revenue rose 4.2%, and the company expects high-single-digit revenue growth in fiscal 2026. The board also raised the quarterly dividend from $0.30 to $0.31 per share.
Q4 2025 total revenues rose 7.8% to $147.4 million; the quarter had 13 weeks versus 14 weeks in Q4 2024.
Fiscal 2025 net income was $106.0 million, or $2.07 per diluted share, versus $109.0 million, or $2.11, in fiscal 2024.
For fiscal 2026, Exponent expects revenues before reimbursements to grow in the high-single digits, with EBITDA of 27.6% to 28.1% of revenues before reimbursements.
Quarterly dividend increased from $0.30 to $0.31 per share, payable March 20, 2026, to holders of record as of March 6, 2026.
Warner Music Group reported results for the fiscal first quarter ended December 31, 2025, with revenue up 10% to $1.84 billion and operating income up 35% to $288 million. Net income fell 27% to $175 million, and earnings per share were $0.33 versus $0.45, mainly because of currency effects on Euro-denominated debt and hedging compared with a year earlier. The board also declared a regular quarterly dividend of $0.19 per share.
Revenue of $1.84 billion rose 10% (7% in constant currency); Adjusted OIBDA rose 28% to $463 million, with margin of 25.2% versus 21.8%.
Net income was $175 million versus $241 million; basic and diluted EPS was $0.33 for both Class A and Class B, versus $0.45.
Net income was hurt by a $1 million Euro debt loss this quarter versus a $61 million gain a year earlier.
Quarterly dividend of $0.19 per share is payable March 3, 2026, to holders of record at the close of business on February 18, 2026.
Doximity reported fiscal third-quarter revenue of $185.1 million, up 10% year-over-year, while GAAP net income fell to $61.6 million from $75.2 million. The company updated its full-year fiscal 2026 revenue and adjusted EBITDA guidance and authorized a new $500 million share repurchase program. Chief Financial Officer Anna Bryson is on a temporary medical leave, and Chief Accounting Officer Siddharth Sitaram has been named interim principal financial and accounting officer effective February 3, 2026.
Q3 revenue of $185.1 million, up 10%; GAAP diluted EPS of $0.31 versus $0.37 a year earlier
Adjusted EBITDA of $111.4 million, up 9%; non-GAAP diluted EPS of $0.46 versus $0.45
Fiscal 2026 revenue guidance updated to $642.5 million to $643.5 million; adjusted EBITDA guidance to $355.5 million to $356.5 million
CFO Anna Bryson on temporary medical leave; Siddharth Sitaram appointed interim principal financial officer effective February 3, 2026
BILL reported fiscal second-quarter 2026 results for the quarter ended December 31, 2025, with total revenue of $414.7 million, up 14% year-over-year, and non-GAAP net income of $73.4 million, or $0.64 per diluted share, up from $0.56. The company posted a GAAP net loss of $2.6 million, or $(0.03) per share, compared with net income of $33.5 million a year earlier. It also issued fiscal 2026 total revenue guidance of $1,631.0 million to $1,651.0 million and non-GAAP net income per diluted share guidance of $2.33 to $2.41.
Total revenue was $414.7 million, up 14% year-over-year; core revenue was $375.1 million, up 17%.
GAAP net loss was $2.6 million, or $(0.03) per share, versus net income of $33.5 million in the prior-year quarter.
Non-GAAP net income was $73.4 million, or $0.64 per diluted share, versus $0.56 a year earlier.
Fiscal 2026 guidance: total revenue of $1,631.0 million to $1,651.0 million and non-GAAP net income per diluted share of $2.33 to $2.41. The company repurchased about 2.5 million shares for about $133 million in the quarter.
AGCO reported fourth-quarter and full-year 2025 results in an 8-K furnishing its press release. Fourth-quarter net sales rose 1.1% to $2.9 billion, and full-year net sales fell 13.5% to $10.1 billion, while full-year adjusted EPS declined to $5.28 from $7.50. The company guided 2026 net sales to $10.4 to $10.7 billion and EPS to about $5.50 to $6.00.
Q4 2025 reported EPS was $1.30 versus a loss of $3.42 a year earlier; adjusted EPS was $2.17 versus $1.97.
Full-year 2025 reported EPS was $9.75 versus a loss of $5.69 in 2024; adjusted EPS was $5.28 versus $7.50.
Full-year adjusted operating margin was 7.7% versus 8.9% in 2024; record free cash flow was $740 million.
2026 outlook: net sales of $10.4 to $10.7 billion, adjusted operating margin of 7.5% to 8.0%, and EPS of about $5.50 to $6.00.
Acadian Asset Management reported fourth-quarter 2025 results, with U.S. GAAP net income attributable to controlling interests down 18% year over year, while management fees rose 32% to a record $146.4 million. ENI earnings per share rose 2% to $1.32, helped by share repurchases, and the Board raised the quarterly dividend tenfold to $0.10 per share.
U.S. GAAP net income attributable to controlling interests was $34.7 million, down from $42.5 million, and diluted EPS was $0.97 versus $1.13, driven by higher non-cash expenses tied to Acadian LLC equity and profit interests.
ENI EPS rose 2% to $1.32 from $1.30, while economic net income fell 4% to $47.2 million from $49.0 million.
Record management fees of $146.4 million were up 32% from $111.3 million, and net inflows were $5.4 billion for Q4'25, bringing AUM to $177.5 billion at December 31, 2025.
Quarterly dividend increased to $0.10 per share from $0.01, payable March 27, 2026 to shareholders of record as of March 13, 2026.
InterDigital reported fourth-quarter 2025 revenue of $158.2 million, down 37% year over year, as catch-up revenue fell to $12.6 million from $135.8 million. For the full year, net income rose 13% to $406.6 million, while revenue declined 4% to $834.0 million. The company's 2026 full-year revenue outlook of $675 million to $775 million includes expected contributions from new agreements and enforcement actions it may still receive.
Q4 2025 net income was $43.0 million, down 68% from $133.1 million; diluted EPS was $1.20 versus $4.09.
Full-year 2025 diluted EPS was $11.80, down 2% from $12.07, while non-GAAP EPS rose 2% to $15.31.
Q1 2026 revenue outlook is $194 million to $200 million; full-year 2026 revenue outlook is $675 million to $775 million.
A supplemental earnings presentation (Exhibit 99.2) was provided to investors alongside the release.
UGI reported fiscal first-quarter 2026 results for the quarter ended December 31, 2025. Revenue rose to $2,083 million from $2,030 million, but GAAP diluted EPS fell to $1.34 from $1.74 and adjusted diluted EPS fell to $1.26 from $1.37, while reportable segment EBIT rose to $441 million from $420 million.
Total revenues $2,083 million vs $2,030 million; GAAP diluted EPS $1.34 vs $1.74; adjusted diluted EPS $1.26 vs $1.37
Reportable segments EBIT $441 million vs $420 million, up 5%, with Utilities and AmeriGas Propane gains partly offset by Midstream & Marketing
In January 2026, agreed to sell LPG businesses in Czech Republic, Hungary, Poland, Slovakia and Romania for an enterprise value of about €48 million
Filed gas base rate cases after the quarter requesting $99 million for UGI Utilities and $27 million for Mountaineer Gas; earnings call set for 9:00 AM ET on February 5, 2026
ScanSource reported second-quarter fiscal 2026 net sales of $766.5 million, up 2.5% year over year, and GAAP diluted EPS of $0.75, up from $0.70, while non-GAAP diluted EPS fell to $0.80 from $0.85. The company replaced its prior fiscal 2026 outlook with lower net sales of $3.0 billion to $3.1 billion and lower adjusted EBITDA of $140 million to $150 million, so shareholders face a weaker full-year forecast despite higher quarterly sales.
Q2 net sales were $766.5 million, up 2.5%; adjusted EBITDA was $31.2 million, down 11.6%.
GAAP diluted EPS was $0.75 versus $0.70; non-GAAP diluted EPS was $0.80 versus $0.85.
FY26 net sales outlook cut to $3.0 billion to $3.1 billion from $3.1 billion to $3.3 billion.
FY26 adjusted EBITDA outlook cut to $140 million to $150 million from $150 million to $160 million; free cash flow outlook unchanged at at least $80 million.
Insight Enterprises reported fourth-quarter 2025 net sales down 1% to $2.0 billion, with GAAP diluted EPS up 69% to $1.67 and adjusted diluted EPS up 11% to $2.96. For the full year, net sales fell 5% to $8.2 billion and GAAP diluted EPS fell 26% to $4.86, while adjusted diluted EPS rose 2% to $9.87. The company guided 2026 adjusted diluted EPS to $11.00 to $11.50 on a basis excluding stock-based compensation.
Q4 2025 gross profit rose 9% to $478.4 million, and gross margin expanded 220 basis points to 23.4%.
Full-year 2025 consolidated net earnings fell 37% to $157.3 million, reflecting higher interest expense and a $25.1 million warrant settlement revaluation loss.
2026 adjusted diluted EPS guidance is $11.00 to $11.50 excluding stock-based compensation, or $10.10 to $10.60 including it, versus 2025 adjusted EPS of $10.75 excluding stock-based compensation.
Full-year 2025 cash flows from operating activities were $303.8 million.
Patrick Industries reported fourth-quarter 2025 net sales up 9% to $924 million, with operating income up 45% to $57 million and diluted EPS of $0.83 versus $0.42 a year earlier. For the full year, net income fell slightly to $135 million from $138 million, and diluted EPS dropped to $3.90 from $4.11, partly due to a $24 million legal settlement. The company also declared a quarterly dividend of $0.47 per share.
Q4 2025 net sales rose 9% to $924 million; operating income rose 45% to $57 million
Q4 diluted EPS was $0.83 versus $0.42 in Q4 2024; full-year diluted EPS was $3.90 versus $4.11
Full-year 2025 included a $24.4 million legal settlement recorded in other expenses; full-year adjusted diluted EPS rose 2% to $4.44
Board declared a $0.47 per share quarterly dividend, payable March 9, 2026, to holders of record on February 23, 2026
Sirius XM reported fourth-quarter and full-year 2025 results. Full-year revenue fell 2% to $8.56 billion and net income rose to $805 million from a net loss in 2024 that included large impairment charges, while fourth-quarter net income fell to $99 million from $287 million. The company guided 2026 revenue of about $8.5 billion, adjusted EBITDA of about $2.6 billion and free cash flow of about $1.35 billion, compared with 2025 free cash flow of $1.26 billion.
Full-year 2025 revenue was $8.56 billion, down 2% from $8.70 billion in 2024; fourth-quarter revenue was $2.19 billion, flat year over year
Full-year 2025 net income was $805 million, compared with a net loss of $2.08 billion in 2024; fourth-quarter net income was $99 million, versus $287 million a year earlier
Full-year 2025 adjusted EBITDA was $2.67 billion, down 2%; free cash flow was $1.26 billion, up 24%
2026 guidance: revenue of about $8.5 billion, adjusted EBITDA of about $2.6 billion and free cash flow of about $1.35 billion
Cummins reported fourth-quarter 2025 net income of $593 million, or $4.27 per diluted share, up from $418 million, or $3.02, a year earlier, on revenue of $8.5 billion, up 1%. Full-year 2025 net income fell to $2.8 billion, or $20.50 per diluted share, from $3.9 billion, or $28.37, a year earlier, when results included a $1.3 billion gain from the Atmus separation; 2025 also absorbed $458 million of Electrolyzer charges. The company expects 2026 revenue to rise 3% to 8%, with EBITDA of 17.0% to 18.0% of sales.
Q4 2025 revenue of $8.5 billion, up 1% from Q4 2024; diluted EPS of $4.27 versus $3.02
Q4 2025 included $218 million, or $1.54 per diluted share, of Electrolyzer charges within the Accelera segment
Full-year 2025 revenue of $33.7 billion, down 1%; diluted EPS of $20.50 versus $28.37 in 2024
2026 outlook: revenue up 3% to 8% and EBITDA of 17.0% to 18.0% of sales
Griffon reported fiscal first-quarter 2026 revenue of $649.1 million, up 3%, while net income fell to $64.4 million, or $1.41 per diluted share, from $70.9 million, or $1.49. The company also announced a joint venture with ONCAP for its AMES U.S. and Canada businesses, a strategic review of AMES Australia and UK, and a combination of Hunter Fan with the HBP segment, which will be reported as discontinued operations starting in fiscal second quarter.
Revenue $649.1 million, up 3% from $632.4 million; diluted EPS $1.41 vs. $1.49, adjusted EPS $1.45 vs. $1.39
Adjusted EBITDA $129.6 million, down 1% from $131.2 million
Joint venture with ONCAP covers AMES U.S. and Canada; AMES Australia and UK under strategic review
Fiscal 2026 outlook: continuing-operations revenue of $1.8 billion and adjusted EBITDA of $520 million, excluding $62 million of unallocated costs
Linde reported fourth-quarter 2025 sales of $8,764 million, up 6%, and adjusted EPS of $4.20, up 6%, while GAAP diluted EPS fell 9% to $3.26 and net income fell 11% to $1,530 million. The company guided 2026 adjusted diluted EPS to $17.40 to $17.90, up 6% to 9%, which gives shareholders a forward profit range but also highlights a gap between adjusted and GAAP results.
Q4 2025 sales $8,764 million, up 6%; underlying sales up 3%
Q4 2025 GAAP diluted EPS $3.26, down 9%; adjusted EPS $4.20, up 6%
2026 full-year adjusted EPS guidance $17.40 to $17.90; Q1 2026 guidance $4.20 to $4.30
Full-year 2025 returned $7.4 billion to shareholders through dividends and share repurchases
MSG Sports reported fiscal second-quarter results for the quarter ended December 31, 2025, with revenues of $403.4 million, up 13%, and operating income of $22.2 million, up 67% from the prior year period. For the six months, the company recorded an operating loss of $5.2 million, compared with operating income of $5.0 million a year earlier, and used $52.5 million in operating cash flow.
Q2 revenues $403.4 million, up $45.7 million (13%); growth tied to additional home games, higher NBA national media rights fees and suite revenue
Q2 operating income $22.2 million vs. $13.3 million; net income $8.2 million, or $0.34 per diluted share, vs. $0.05
Six-month operating loss of $5.2 million vs. operating income of $5.0 million in the prior year period
Net cash used in operating activities was $52.5 million for the six months ended December 31, 2025, vs. $35.6 million provided a year earlier
NETSCOUT reported third-quarter fiscal 2026 results for the quarter ended December 31, 2025. Revenue was $250.7 million, down from $252.0 million a year earlier, while GAAP diluted earnings per share rose to $0.75 from $0.67. The company raised the midpoint of its fiscal 2026 revenue and per-share earnings outlook, and said some orders originally expected in the fourth quarter were received in the third quarter as customers used year-end budgets.
Q3 fiscal 2026 revenue was $250.7 million versus $252.0 million a year earlier; service revenue rose to $129.0 million while product revenue fell to $121.7 million from $128.2 million.
GAAP diluted EPS was $0.75 versus $0.67; non-GAAP diluted EPS was $1.00 versus $0.94.
Fiscal 2026 revenue outlook is $835 million to $870 million, with the low end raised from $830 million.
Non-GAAP diluted EPS outlook is $2.37 to $2.45, up from $2.35 to $2.45; GAAP diluted EPS outlook is $1.15 to $1.23, up from $1.13 to $1.23.
WEC Energy Group reported 2025 GAAP earnings of $4.81 per share, down slightly from $4.83 in 2024, after a 46-cent charge tied to a proposed settlement with the Illinois Attorney General. Excluding the charge, adjusted EPS rose 8.0% to $5.27, and revenue grew $1.2 billion to $9.8 billion, while the company reaffirmed its 2026 EPS guidance of $5.51 to $5.61 for shareholders.
2025 GAAP net income was $1.6 billion, or $4.81 per share, versus $1.5 billion, or $4.83 per share, in 2024
Full-year 2025 results include a charge of 46 cents per share tied to a proposed settlement with the Illinois Attorney General
Consolidated revenues were $9.8 billion for 2025, up $1.2 billion from 2024
Company reaffirmed 2026 EPS guidance of $5.51 to $5.61 and declared a quarterly dividend of 95.25 cents per share, up 6.7%
Maximus reported fiscal first-quarter 2026 revenue of $1.35 billion, down 4.1% from $1.40 billion a year earlier, while diluted EPS rose to $1.70 from $0.69. The company raised its full-year adjusted diluted EPS guidance to $8.05 to $8.35 and narrowed revenue guidance to $5.2 billion to $5.35 billion, but cash used in operating activities was $244 million in the quarter and debt-to-EBITDA rose to 1.8x from 1.5x.
Q1 revenue was $1.35 billion versus $1.40 billion; diluted EPS was $1.70 versus $0.69, and adjusted diluted EPS was $1.85 versus $1.61.
FY2026 adjusted diluted EPS guidance is $8.05 to $8.35, up $0.10 at the low end and high end; revenue guidance is $5.2 billion to $5.35 billion.
Free cash flow was an outflow of $251 million in the quarter; DSO was 78 days at December 31, 2025, versus 62 days at September 30, 2025.
Quarterly dividend of $0.33 per share is payable March 2, 2026, to shareholders of record on February 13, 2026.
Bristol Myers Squibb reported fourth-quarter 2025 revenue of $12.5 billion, up 1%, and non-GAAP earnings of $1.26 per share, down from $1.67 a year earlier. For full-year 2025, revenue was $48.2 billion, roughly flat, and non-GAAP EPS was $6.15, up from $1.15. The company guided 2026 revenue to $46.0 billion to $47.5 billion and non-GAAP EPS to $6.05 to $6.35.
Q4 revenue $12.5 billion, up 1%; Growth Portfolio $7.4 billion, up 16%; Legacy Portfolio $5.1 billion, down 15%
Q4 GAAP EPS $0.53 versus $0.04; non-GAAP EPS $1.26 versus $1.67, both including a $(0.60) net impact from Acquired IPRD charges and licensing income
Full-year 2025 revenue $48.2 billion versus $48.3 billion; GAAP EPS $3.46 versus $(4.41)
2026 guidance: revenue $46.0 billion to $47.5 billion, non-GAAP EPS $6.05 to $6.35; quarterly dividend $0.63 per share, a 17th consecutive annual increase
Asbury Automotive reported fourth quarter 2025 revenue of $4.7 billion, up 4%, and record full-year revenue of $18 billion. Fourth quarter net income fell 53% to $60 million, or $3.10 per diluted share, after $115 million of asset impairments, while full-year diluted EPS rose 17% to $25.13.
Q4 2025 net income $60 million ($3.10 per diluted share) versus $129 million ($6.54) in Q4 2024; adjusted EPS $6.67 versus $7.26, down 10% on adjusted net income
Q4 2025 gross profit of $793 million, up 6%; income from operations of $126.4 million versus $239.7 million a year earlier
Full-year 2025 net income $492 million ($25.13 per diluted share) versus $430 million ($21.50); repurchased about 433,000 shares for $100 million in 2025
Peloton reported fiscal second-quarter 2026 revenue of $657 million, down 3% year-over-year and $8 million below its guidance range, while Adjusted EBITDA rose 39% to $81 million and the net loss narrowed to $39 million. The company raised its full-year Adjusted EBITDA outlook to $450 million to $500 million but lowered its full-year revenue outlook, and CFO Liz Coddington will leave on March 27, 2026, for an external opportunity.
Total revenue $657 million, down $17 million or 3% year-over-year and $8 million below the guidance range
Adjusted EBITDA $81 million, up $23 million or 39% year-over-year; GAAP net loss $39 million
FY2026 Adjusted EBITDA outlook raised to $450 million to $500 million; revenue outlook lowered to $2.40 billion to $2.44 billion
CFO Liz Coddington steps down effective March 27, 2026; no severance under the company's plan
Liquidity Services reported fiscal first-quarter 2026 results for the quarter ended December 31, 2025. GAAP net income rose 29% to $7.5 million, or $0.23 per diluted share, while revenue fell 1% to $121.2 million and GMV rose 3% to $398.0 million. The company also issued fiscal second-quarter 2026 guidance, including GAAP diluted EPS of $0.20 to $0.29 and Non-GAAP Adjusted EBITDA of $14.0 million to $17.0 million.
GAAP net income of $7.5 million, up 29% from $5.8 million; GAAP diluted EPS of $0.23, up from $0.18
Revenue of $121.2 million, down 1% from $122.3 million; GMV of $398.0 million, up 3%
Non-GAAP Adjusted EBITDA of $18.1 million, up 38% from $13.1 million
Q2-FY26 guidance: GMV of $375 million to $415 million; GAAP net income of $6.5 million to $9.5 million
Energizer reported first-quarter fiscal 2026 results with net sales up 6.5% to $778.9 million, driven by the APS acquisition, but a net loss of $3.4 million compared with net earnings of $22.3 million a year earlier. The company reaffirmed its fiscal 2026 outlook for net sales, adjusted EPS and adjusted EBITDA, which shareholders will watch as margins recover from tariff and restructuring pressures.
Net sales rose to $778.9 million from $731.7 million, including $64.6 million from the APS acquisition, while organic net sales fell 4.3%.
Diluted net loss was $0.05 per share versus diluted earnings of $0.30 a year earlier; adjusted diluted EPS was $0.31 versus $0.67.
Reported gross margin fell to 32.9% from 36.8%; free cash flow was $124.2 million and debt was reduced by over $100 million.
Fiscal 2026 guidance reaffirmed: adjusted EPS of $3.30 to $3.60 and adjusted EBITDA of $580 million to $610 million; second-quarter adjusted EPS guided to $0.40 to $0.50.
Carrier reported fourth-quarter 2025 net sales of $4.8 billion, down 6% from a year earlier, and adjusted EPS of $0.34, down 37%. The company also issued 2026 guidance calling for adjusted EPS of about $2.80, compared with $2.59 for full-year 2025, which shareholders will weigh against the weaker quarter.
Q4 2025 GAAP operating profit was $101 million, down 87%, while adjusted operating profit was $455 million, down 33%.
Climate Solutions Americas residential volume fell 38% in the quarter, cited as the main drag on results.
2026 guidance includes adjusted operating profit of about $3.4 billion, free cash flow of about $2 billion and about $1.5 billion in share repurchases.
The 2026 outlook assumes the Riello divestiture closes by the end of Q1 2026, subject to regulatory approvals, a headwind of about $350 million in sales.
KKR reported fourth quarter 2025 results on February 5, 2026, with fee related earnings of $1.0 billion, up 15% year over year, and total operating earnings of $1.3 billion, up 17%. Adjusted net income per share fell to $1.12 from $1.32 a year earlier, which the company says reflects a previously disclosed carried interest repayment obligation; excluding that impact, it would have been $1.30. The company also announced an agreement to acquire Arctos Partners and plans to raise its annualized dividend from $0.74 to $0.78 per share starting with the quarter ending March 31, 2026.
Fee related earnings of $1.0 billion ($1.08 per adjusted share) in Q4 2025, up 15% year over year; full-year fee related earnings were $3.7 billion, up 14%.
Adjusted net income of $1.0 billion ($1.12 per adjusted share) in Q4 2025, versus $1.32 in Q4 2024; excluding the carried interest repayment obligation, it would have been $1.30.
GAAP net income attributable to KKR common stockholders was $1.1 billion in Q4 2025, compared with $1.1 billion in Q4 2024; full-year 2025 was $2.3 billion, versus $3.1 billion in 2024.
Definitive agreement to acquire Arctos Partners, which has $15 billion in assets under management; KKR plans to create a new investing business called KKR Solutions.
Hershey reported fourth-quarter 2025 net sales of $3,091.0 million, up 7.0%, but reported net income fell 59.9% to $320.0 million and adjusted EPS fell 36.4% to $1.71. For full-year 2025, net sales rose 4.4% to $11,692.6 million while adjusted EPS fell 32.7% to $6.31. The company expects 2026 net sales growth of 4% to 5% and adjusted EPS of $8.20 to $8.52, which would be an increase of 30% to 35%.
Q4 2025 net sales $3,091.0 million, up 7.0%; reported operating profit $444.9 million, down 52.6%
Q4 2025 reported net income $320.0 million, or $1.57 per diluted share, down 59.9%
Full-year 2025 reported net income $883.3 million, or $4.34 per diluted share, down 60.3%
2026 outlook: reported EPS $7.77 to $8.19; adjusted EPS $8.20 to $8.52
XPO reported fourth quarter 2025 revenue of $2.01 billion, up 4.7% from a year earlier, while diluted EPS fell to $0.50 from $0.63 and net income fell to $59 million from $76 million. The company cited a $23 million rise in restructuring expense tied to previously granted equity awards from the board leadership transition, and a $21 million drop in real estate gains; adjusted diluted EPS was $0.88 versus $0.89.
Q4 2025 revenue was $2.01 billion versus $1.92 billion; operating income was $143 million versus $148 million.
Diluted EPS was $0.50 versus $0.63; adjusted diluted EPS was $0.88 versus $0.89.
Full-year 2025 revenue was $8.16 billion versus $8.07 billion; full-year net income was $316 million versus $387 million and diluted EPS was $2.64 versus $3.23.
North American LTL adjusted operating ratio improved 180 basis points to 84.4%; the company reported $310 million of cash at year end.
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