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).
Corebridge Financial entered into a Share Repurchase Agreement with American International Group, Inc. (AIG) to buy back its common stock for an aggregate price of approximately $750 million. The per share price of $30.42 equals the closing price on the New York Stock Exchange on February 12, 2026, and the repurchase is expected to close on February 17, 2026, subject to customary closing conditions.
Per share purchase price of $30.42, the February 12, 2026 NYSE closing price
Aggregate purchase price of approximately $750 million
Expected closing date of February 17, 2026, subject to customary closing conditions
Radian Group said Sumita Pandit no longer serves as President and Chief Financial Officer effective February 12, 2026, in what the filing describes as an involuntary termination. Daniel Kobell was named interim Chief Financial Officer, and the board also elevated several long-standing executives to new senior roles, including two co-heads of the mortgage insurance business.
Sumita Pandit's role as President and Chief Financial Officer ended effective February 12, 2026; the filing describes the departure as involuntary.
Daniel Kobell, age 46, was appointed Senior Executive Vice President and interim Chief Financial Officer, reporting to CEO Richard Thornberry.
Robert J. Quigley, age 54, was appointed Senior Executive Vice President, Controller and Chief Accounting Officer.
Meghan Bartholomew and Steve Keleher were named Senior Executive Vice President, Co-Heads of Mortgage Insurance, reporting directly to Richard Thornberry.
Diodes reported fourth-quarter 2025 revenue of $391.6 million, up 15.4% from a year earlier and flat from the prior quarter, with GAAP net income of $10.2 million, or $0.22 per diluted share, compared with $0.18 a year earlier. The company guided first-quarter 2026 revenue to about $395 million, plus or minus 3%, and set three-year interim targets of $2 billion in annual revenue and over $4 in non-GAAP EPS, which matters to shareholders because it gives a new benchmark for future performance.
Q4 2025 revenue $391.6 million, up 15.4% year over year; full-year 2025 revenue about $1.5 billion, up 13%
Q4 2025 GAAP net income $10.2 million, or $0.22 per diluted share, versus $0.18 a year earlier; Q4 GAAP gross margin 31.1% versus 32.7% a year earlier
Q1 2026 revenue guidance of about $395 million, plus or minus 3%; midpoint is a 19% increase year over year
Three-year interim targets: about $2 billion revenue, about $700 million gross profit, 35%-plus gross margin, and over $4 non-GAAP EPS, which the CEO said is expected by calendar 2028
GEO Group said CEO J. David Donahue will retire effective February 28, 2026, and founder George C. Zoley, currently Executive Chairman, will become Chairman and Chief Executive Officer effective March 1, 2026. Donahue will receive separation payments and a consulting fee through February 28, 2028, and Zoley's new employment agreement sets a $1,200,000 base salary with incentive awards tied to that salary, which shareholders can review in the filing.
J. David Donahue's retirement is effective February 28, 2026; he notified the company on February 6, 2026.
George C. Zoley's employment agreement runs through April 2, 2029 and sets a base salary of $1,200,000.
Zoley's target annual performance award is 200% of base salary, and his annual equity award has a grant date fair value of at least 300% of base salary.
Donahue will receive $104,167 per month under a consulting agreement from March 1, 2026 through February 28, 2028.
Callaway Golf reported fourth-quarter and full-year 2025 results on February 12, 2026. Full-year net sales fell 0.8% to $2.06 billion and GAAP earnings per diluted share dropped to $0.21 from $0.50, while adjusted EBITDA from continuing operations was $222.4 million, down $38.8 million. The company guided 2026 adjusted EBITDA to $170 million to $195 million, and reported net cash of about $680 million in cash against about $480 million of debt after its Topgolf and Jack Wolfskin transactions.
Q4 2025 net sales were $367.5 million, down 1.1%, and the GAAP net loss from continuing operations was $66.0 million, or $0.36 per diluted share, versus a loss of $0.51 a year earlier.
Full-year 2025 GAAP gross margin fell to 42.1%, with $34 million of incremental tariff expense cited as the main cause.
2026 guidance calls for net sales of $1.98 billion to $2.05 billion and adjusted EBITDA of $170 million to $195 million, compared with $222 million reported for 2025.
The company announced a $200 million share repurchase program in January and plans to repay $258 million of convertible notes in May 2026.
Ameriprise Financial said Joseph E. Sweeney, President of Advice & Wealth Management Products & Service Delivery, has decided to retire from the company on April 3, 2026. The filing gives no successor or financial details, so shareholders can see a senior leadership departure with a set date but no stated effect on results.
Joseph E. Sweeney, President, Advice & Wealth Management Products & Service Delivery, will retire
Retirement effective April 3, 2026
Announced February 12, 2026; filing does not name a successor or give compensation terms
Constellation Brands said its board appointed Nicholas Fink, a board member since 2021 and current Fortune Brands Innovations CEO, as president and chief executive officer effective April 13, 2026. Current CEO William Newlands steps down and retires from the board on the same date, then serves as a strategic advisor through April 30, 2026. The change is a leadership transition at the top of a major beverage alcohol company, and the filing discloses compensation terms for both executives.
Nicholas Fink becomes president and CEO effective April 13, 2026, with a $1,400,000 initial base salary and a fiscal 2027 target bonus of 160% of base salary
Fink's employment agreement includes an $11,000,000 fiscal 2027 annual equity award grant date value and a Replacement Equity Award of 85,385 restricted stock units and 415,295 nonqualified stock options
William Newlands will retire from the board and receive a $1,200,000 consulting fee under a transition agreement covering May 1, 2026 through December 31, 2026
Eversource reported full-year 2025 GAAP earnings of $1.69 billion, or $4.56 per share, up from $811.7 million, or $2.27 per share, in 2024. Non-GAAP recurring earnings were $4.76 per share, within the company's updated 2025 guidance range of $4.72 to $4.80, and the company projected 2026 earnings of $4.80 to $4.95 per share. The company also raised its five-year investment plan to $26.5 billion for 2026 to 2030 and expects to raise $800 million to $1.1 billion in equity over that period.
Full-year 2025 GAAP EPS of $4.56 vs. $2.27 in 2024; non-GAAP recurring EPS of $4.76 vs. $4.57
Fourth-quarter 2025 GAAP earnings of $421.3 million, or $1.12 per share, vs. $72.5 million, or $0.20, in Q4 2024
2026 EPS guidance of $4.80 to $4.95 per share; long-term EPS growth of 5 to 7 percent through 2030
Five-year investment plan of $26.5 billion for 2026 to 2030, up $2.3 billion from the prior $24.2 billion plan
Norwegian Cruise Line Holdings appointed director John W. Chidsey as President and Chief Executive Officer effective immediately, succeeding Harry Sommer, who also resigned from the Board. The company said its fourth quarter 2025 Net Yield is expected to be around the midpoint of the previously disclosed range and that core quarterly and full year 2025 results are expected to be in line with its November 4, 2025 guidance.
John W. Chidsey, age 63, became President and CEO effective February 12, 2026, and remains on the Board without committee roles
Harry Sommer resigned as President, CEO and director on February 12, 2026, as part of a strategic leadership change, with no disagreement reported
Board size reduced from nine to eight directors
Full fourth quarter and full year 2025 results are scheduled for release on March 2, 2026
On February 12, 2026, CVR Energy issued $600 million of 7.500% senior notes due 2031 and $400 million of 7.875% senior notes due 2034 in a private offering. The company also amended its senior secured asset-based revolving credit facility, extending its maturity from June 2027 to February 2031 and raising commitments from $345 million to $550 million. The new notes add $1 billion of debt for shareholders to weigh against the larger borrowing capacity.
$600 million of 7.500% senior notes due February 15, 2031, and $400 million of 7.875% senior notes due February 15, 2034
Credit facility maturity extended from June 2027 to February 2031; commitments raised from $345 million to $550 million, with possible increase to $700 million
Notes are senior unsecured and guaranteed by most existing domestic subsidiaries; interest is payable semi-annually starting August 15, 2026
Holders may require repurchase at 101% of principal upon a change of control triggering event
Fortune Brands reported lower fourth-quarter and full-year 2025 results, with earnings per share before charges down 12% in both periods. The company also said director Amit Banati will become CEO effective May 13, 2026, succeeding Nicholas Fink, who is resigning effective April 1, 2026, and issued 2026 EPS guidance before charges of $3.35 to $3.65.
Q4 2025 net sales were $1.1 billion, down 2%; EPS before charges was $0.86, down 12%.
Full-year 2025 net sales were $4.5 billion, down 3%; EPS before charges was $3.61, down 12%.
2026 guidance: EPS before charges of $3.35 to $3.65 and net sales flat to up 2.0%.
Susan Kilsby named interim Executive Chair effective February 12, 2026, serving as principal executive officer until Banati starts.
Flowers Foods reported fourth-quarter net sales up 11.0% to $1.233 billion, helped by an extra week and the Simple Mills acquisition, but swung to a net loss of $67.1 million due to a $136.0 million non-cash impairment of intangible assets. For fiscal 2026, the company expects net sales of $5.163 billion to $5.267 billion and adjusted diluted EPS of $0.80 to $0.90, which it says will be below 2025 levels, and it is conducting a comprehensive review of operations.
Q4 net sales rose 11.0% to $1.233 billion; diluted EPS was a loss of $0.32 versus earnings of $0.20 a year earlier
Q4 adjusted diluted EPS was $0.22, flat with the prior year period; full-year 2025 adjusted diluted EPS fell $0.19 to $1.09
2026 guidance: adjusted EBITDA of approximately $465 million to $495 million, versus $535.2 million in 2025
Management will host a live question and answer webcast at 8:30 a.m. Eastern Time on February 13, 2026
Public Storage reported fourth-quarter 2025 diluted net income of $2.60 per share, down from $3.21 a year earlier, while Core FFO per share rose 1.2% to $4.26. The company gave 2026 Core FFO guidance of $16.35 to $17.00 per share and said CEO Joe Russell will retire effective March 31, 2026, with Tom Boyle becoming CEO on April 1, 2026.
Q4 2025 diluted net income per share was $2.60, versus $3.21 in Q4 2024; full-year net income per share was $9.01, versus $10.64.
Q4 2025 Core FFO per share was $4.26, versus $4.21; full-year Core FFO per share was $16.97, versus $16.67.
2026 guidance: Core FFO per share of $16.35 to $17.00, and Same Store revenue growth of (2.2)% to —%.
Joe Russell retires effective March 31, 2026; Tom Boyle to become CEO effective April 1, 2026.
Toast reported fourth-quarter 2025 total revenue of $1.6 billion, up from $1.3 billion a year earlier, and GAAP net income of $101 million, up from $33 million. On February 10, 2026, its board approved a $500 million increase to the existing share repurchase program, which has no expiration date and does not require any minimum purchases. Toast also gave 2026 guidance for full-year Adjusted EBITDA of $775 million to $795 million.
Q4 2025 total revenue was $1.6 billion ($1,633 million), up from $1.3 billion ($1,338 million) in Q4 2024.
Full-year 2025 GAAP net income was $342 million, compared with $19 million in 2024; Adjusted EBITDA was $633 million, compared with $373 million.
For 2026, Toast expects Q1 Adjusted EBITDA of $160 million to $170 million and full-year Adjusted EBITDA of $775 million to $795 million.
On February 10, 2026, the board approved a $500 million increase to the share repurchase program for Class A common stock.
BioMarin closed an $850 million private offering of 5.500% senior notes on February 12, 2026. The proceeds are held in escrow to help fund its pending acquisition of Amicus Therapeutics, alongside new term loans and a revolving credit facility.
$850 million of 5.500% senior unsecured notes due 2034 issued at 100.000% of face value
Proceeds held in escrow; notes must be redeemed at issue price plus accrued interest if the Amicus acquisition is not completed by December 19, 2026
Acquisition financing also includes a $2 billion term loan B, an $800 million term loan A and a $600 million revolving credit facility
SPS Commerce appointed Michael McConnell and Fumbi Chima to its board under a cooperation agreement with Anson Funds Management LP, which expanded the board to ten members. The company also said its share repurchase authorization was increased to $300 million, and director Sven Wehrwein will not stand for reelection at the 2026 annual meeting. The filing contains no financial results, and Anson agreed to standstill terms, including a limit on buying more than 9.9% of the company's common stock.
Board increased to ten; McConnell and Chima appointed effective February 12, 2026, with McConnell joining the Finance & Strategy Committee and Chima joining the Audit Committee.
Anson agreed to vote for the company's director nominees at the 2026 annual meeting and to customary standstill terms, including not purchasing more than 9.9% of outstanding common stock.
Sven Wehrwein, a director since 2008, will not stand for reelection at the 2026 annual meeting under the company's age limit.
CEO Chad Collins said the share repurchase authorization was increased to $300 million.
Rambus appointed Victor Peng, a former AMD president, as a Class II director effective February 12, 2026, increasing the board to eight members. The company also set pay terms for John Allen as interim chief financial officer, including a monthly stipend and a transition bonus.
Victor Peng was appointed effective February 12, 2026, and will stand for reelection at the 2027 annual meeting.
Peng joined the Compensation and Human Resources Committee, chaired by Eric Stang.
John Allen will receive an additional monthly salary stipend of $17,801 while serving as interim CFO, plus a $150,000 transition bonus.
The company plans to file Allen's employment agreement as an exhibit to a later periodic report.
Yelp reported record full-year 2025 net revenue of $1.46 billion, up 4%, and net income of $146 million, up 10%, with diluted earnings per share of $2.24. Fourth-quarter results were weaker, with net revenue down 1% and adjusted EBITDA down 15%, and the company guided 2026 adjusted EBITDA to $310 million to $330 million, below the $369 million reported for 2025, as it invests in its AI transformation.
Full-year 2025 net revenue was a record $1.46 billion, up 4%; net income was $146 million; diluted EPS was $2.24, up 19%.
Fourth-quarter 2025 net revenue was $360 million, down 1%, and adjusted EBITDA was $86 million, down 15% from $101 million a year earlier.
2026 outlook: net revenue of $1.455 billion to $1.475 billion and adjusted EBITDA of $310 million to $330 million.
Restaurants, Retail & Other advertising revenue fell 6% to $444 million, while Services advertising revenue rose 8% to a record $948 million.
CareTrust REIT reported fourth-quarter and full-year 2025 results with higher net income, revenue and per-share normalized FFO than a year earlier. Q4 net income attributable to the company was $111.3 million, or $0.50 per diluted share, compared with $52.1 million a year earlier, and the company issued 2026 guidance for normalized FFO of $1.90 to $1.95 per share. The $0.335 quarterly dividend was maintained.
Q4 2025 net income attributable to CareTrust was $111.3 million, or $0.50 per diluted share, up $0.21 from $0.29 a year earlier.
Q4 normalized FFO was $0.47 per diluted share, up 18%; full-year 2025 normalized FFO was $1.76 per share, up 17%.
2026 guidance projects normalized FFO of $1.90 to $1.95 per share and net income of $1.45 to $1.50 per share, based on 225 million diluted shares.
The company closed $1.8 billion of investments in 2025 at a blended stabilized yield of 8.6%, and reported no borrowings on its $1.2 billion revolving credit facility.
SPS Commerce reported fourth-quarter 2025 revenue of $192.7 million, up 13%, and net income of $25.8 million, or $0.68 per diluted share, versus $17.6 million, or $0.46, a year earlier. The board also named Joseph Del Preto as Chief Financial Officer effective March 16, 2026, succeeding Kimberly Nelson, who is retiring, and added $200.0 million to the share repurchase authority.
Q4 2025 revenue was $192.7 million, up from $170.9 million; net income was $25.8 million, or $0.68 per diluted share, versus $0.46 a year earlier.
Fiscal 2026 revenue guidance is $798.5 million to $806.9 million, representing 6% to 7% growth over 2025.
Joseph Del Preto joins as Executive Vice President and CFO effective March 16, 2026, succeeding Kimberly Nelson, who is retiring.
Repurchase authority rises by $200.0 million to a total of $300.0 million, with the program expiring December 1, 2027.
HASI reported a fourth-quarter 2025 GAAP net loss attributable to controlling stockholders of $53.8 million, or $0.43 per diluted share, compared with net income of $70.1 million, or $0.54 per share, a year earlier. For full-year 2025, GAAP diluted EPS fell to $1.41 from $1.62, while adjusted EPS rose 10% to $2.70; the company also raised its quarterly dividend to $0.425 per share and introduced 2028 adjusted EPS guidance of $3.50 to $3.60. For shareholders, GAAP earnings declined while adjusted measures and long-term guidance point to growth.
Q4 2025 GAAP net loss to controlling stockholders of $53.8 million, diluted EPS of $(0.43), versus net income of $70.1 million and $0.54 in Q4 2024
Full-year 2025 adjusted earnings of $342 million and adjusted EPS of $2.70, versus $2.45 in 2024; GAAP diluted EPS was $1.41 versus $1.62
Closed $4.3 billion of new investments in 2025, up 87% year-over-year
2028 guidance of adjusted EPS of $3.50 to $3.60; quarterly dividend of $0.425 per share payable April 17, 2026
Ryan Specialty reported fourth-quarter 2025 total revenue of $751.2 million, up 13.2%, while net income fell 26.6% to $31.2 million. The board also approved a three-year Empower restructuring program with about $160 million of pre-tax charges, a $300 million share repurchase authorization and an 8.3% dividend increase, which affects shareholders through near-term charges and capital returns.
Q4 2025 total revenue $751.2 million, up 13.2%; net income $31.2 million, down 26.6%; diluted EPS $0.06
Adjusted diluted EPS flat at $0.45; Adjusted EBITDAC margin 29.6% versus 32.6% a year earlier
Empower Program: about $160 million of cumulative pre-tax charges through 2028, with about $80 million of annual savings expected in 2029
$300 million share repurchase authorization; quarterly dividend raised 8.3% to $0.13, payable March 10, 2026
Coinbase reported fourth-quarter 2025 total revenue of $1.8 billion, down 5% from the prior quarter, and a net loss of $667 million, compared with net income of $433 million in Q3. The loss was driven mainly by a $718 million loss on its crypto asset investment portfolio and a $395 million loss on strategic investments. Full-year 2025 total revenue rose 9% to $7.2 billion, but full-year net income fell to $1.26 billion from $2.58 billion in 2024.
Q4 2025 net loss was $667 million, versus net income of $433 million in Q3 2025; Adjusted EBITDA was $566 million, versus $801 million in Q3
Full-year 2025 total revenue was $7.2 billion, up 9% year over year
Repurchased $1.7 billion of Class A common stock in Q4 and through February 10, 2026; board added $2.0 billion to the repurchase authorization in January 2026, with $2.3 billion remaining as of February 10, 2026
Q1 2026 subscription and services revenue outlook is $550 million to $630 million
Warrior Met Coal reported fourth-quarter 2025 net income of $23.0 million, or $0.44 per diluted share, up from $1.1 million a year earlier, on record quarterly sales of 2.9 million short tons as the Blue Creek mine ramped up. For full-year 2025, net income fell to $57.0 million from $250.6 million, and the company raised its 2026 volume guidance.
Q4 2025 net income was $23.0 million, or $0.44 per diluted share, versus $1.1 million, or $0.02 per diluted share, in Q4 2024.
Full-year 2025 total revenues were $1.3 billion, down 14% from 2024, and net income was $57.0 million versus $250.6 million in 2024.
Record Q4 2025 sales volume of 2.9 million short tons, including 881 thousand short tons from Blue Creek; Blue Creek longwall operations began in October 2025.
2026 guidance calls for 12.5 to 13.5 million short tons of coal sales; the board declared a $0.08 per share dividend payable March 2, 2026.
Corsair reported fiscal fourth-quarter and full-year 2025 results, with full-year revenue up 12% to $1,472.5 million and GAAP net loss per share narrowing to ($0.12) from ($0.95). The company also announced its first stock repurchase authorization, up to $50 million, and guidance for 2026 that calls for revenue down about 5% at the midpoint, though adjusted EBITDA is expected to grow.
FY25 adjusted EBITDA rose 84% to $100.6 million, above the high end of guidance; Q4 2025 adjusted EBITDA rose 62% to $53.6 million.
Q4 2025 revenue rose 6% to $436.9 million; diluted GAAP EPS was $0.22 versus $0.01 a year earlier.
2026 guidance: net revenue $1.33 billion to $1.47 billion; adjusted EBITDA $100 million to $115 million; non-GAAP EPS $0.58 to $0.74.
The Board authorized repurchases of up to $50 million of common stock, effective immediately with no expiration date.
Solaris subsidiary Solaris Power Solutions agreed on February 12, 2026 to provide over 500 megawatts of power generation equipment to Hatchbo, LLC, an affiliate of an investment grade technology company, for its artificial intelligence data center needs. The initial rental term is scheduled to start January 1, 2027 and run ten years, or until a separate power purchase agreement is signed, with a customer option to extend by five years. The filing gives no dollar value for the deal, but it adds a long-term contracted customer commitment for the company's power equipment.
Lessor is Solaris Power Solutions, LLC, an indirect subsidiary of Solaris Energy Infrastructure, Inc.; the Customer is Hatchbo, LLC, an affiliate of an investment grade global technology company
Equipment: over 500 megawatts of power generation equipment; initial rental term scheduled to begin January 1, 2027 for ten years
Customer may terminate for convenience on 30 days' notice and must pay 50% of remaining rental fees for the affected equipment through the end of the Rental Term
Parent company of the Customer provided a guaranty, capped at 50% of total rental fees for the Initial Rental Term and decreasing yearly
Public Storage said CEO Joseph D. Russell, Jr. will retire March 31, 2026, and H. Thomas Boyle, its CFO and Chief Investment Officer, will succeed him as CEO on April 1, 2026. Joseph D. Fisher, formerly CFO of UDR Inc., joins as President and Chief Financial Officer effective February 16, 2026, and Shankh S. Mitra will become non-executive Chairman of the Board on April 1, 2026. The filing reports leadership and board changes but no financial results or guidance.
Boyle becomes CEO April 1, 2026, with base salary raised to $1 million and 2026 target bonus set at 200% of salary
Fisher starts as President and CFO February 16, 2026, with initial base salary of $600,000
Russell retires March 31, 2026, and will receive monthly consulting fees of $400,000 through March 31, 2027
Mitra and Ronald L. Havner bought out-of-the-money options for $25 million and $5 million, respectively
Fresh Del Monte Produce Inc. (FDP) will acquire prepared and packaged food businesses and related assets from Del Monte Foods under an asset purchase agreement approved by a U.S. Bankruptcy Court on February 6, 2026. The purchase price is $285 million plus assumed liabilities, to be funded with cash on hand and its revolving credit facility. Closing is expected in the first quarter of 2026, subject to conditions including Hart-Scott-Rodino clearance.
Purchase price is $285 million plus assumption of certain liabilities.
Assets include canned vegetable, tomato, refrigerated fruit, and bubble tea businesses, four U.S. facilities, two in Mexico, one in Venezuela, and global ownership of the Del Monte brand, subject to existing licenses.
Closing is expected in the first quarter of 2026; either party may terminate if closing has not occurred by March 31, 2026, unless extended.
NorthWestern reported 2025 results with total revenue up to $1.61 billion from $1.51 billion, but GAAP net income fell to $181.1 million from $224.1 million, mainly due to a $30.9 million non-cash charge tied to a Montana regulatory disallowance. The company initiated 2026 non-GAAP EPS guidance of $3.68 to $3.83 per diluted share and announced a $3.2 billion 2026-2030 capital plan, while the pending Black Hills merger is expected to close in the second half of 2026.
2025 GAAP diluted EPS was $2.94 versus $3.65 in 2024; adjusted non-GAAP diluted EPS was $3.58 versus $3.40
2026 non-GAAP EPS guidance is $3.68 to $3.83 per diluted share, based on normal weather and excluding Black Hills merger costs
Quarterly dividend increased 1.5% to $0.67 per share, payable March 31, 2026, to holders of record as of March 13, 2026
Black Hills merger shareholder votes are scheduled for April 2, 2026
Terex reported fourth-quarter 2025 net sales of $1.3 billion, up 6%, and EPS of $1.12, $0.35 higher than a year earlier, with full-year EPS of $4.93 in line with its outlook. The company also completed its merger with REV Group the prior week and guided 2026 EPS to $4.50 to $5.00, below the $4.80 to $5.20 legacy Terex range, as the merger is expected to dilute EPS by about 3%.
Q4 2025 net sales were $1.3 billion, up 6% year over year; EPS was $1.12 and EBITDA was $141 million.
Full-year 2025 net sales rose 6% to $5.4 billion, and full-year EPS was $4.93, consistent with the company's outlook.
2026 outlook: pro forma sales of $7.5 billion to $8.1 billion, EBITDA of $930 million to $1 billion, and EPS of $4.50 to $5.00 on 111 million shares.
The company is evaluating inbound interest in its Aerials business under a strategic review.
Under Armour, Inc. said Reza Taleghani became its Executive Vice President and Chief Financial Officer effective February 11, 2026, and was also appointed principal financial officer, replacing David Bergman in that role. Bergman will remain with the company as a senior advisor for a transition period. The change puts a new person in charge of the company's financial reporting, which matters to shareholders as a significant leadership change.
Reza Taleghani became Executive Vice President and Chief Financial Officer effective February 11, 2026
Taleghani replaces David Bergman as principal financial officer
David Bergman will stay with the company as a senior advisor for a transition period, length not stated
Trinity Industries reported fourth-quarter 2025 diluted EPS from continuing operations of $2.31, up from $0.38, while revenue fell to $611.2 million from $629.4 million. For full year 2025, EPS was $3.14 versus $1.81 and revenue was $2.16 billion versus $3.08 billion. The profit increase was helped by a $194 million non-cash pre-tax gain from a December 2025 railcar partnership restructuring with Napier Park, and the company guided 2026 EPS to $1.85 to $2.10, below its 2025 level.
Q4 2025 diluted EPS from continuing operations was $2.31 versus $0.38; revenue was $611.2 million versus $629.4 million.
Full-year 2025 EPS was $3.14 versus $1.81; revenue was $2.16 billion versus $3.08 billion.
A $194 million non-cash pre-tax gain came from the December 2025 railcar partnership restructuring with Napier Park.
2026 EPS guidance is $1.85 to $2.10; the quarterly dividend was raised to $0.31 per share from $0.30.
Zebra Technologies reported fourth-quarter 2025 net sales of $1,475 million, up 10.6% from a year earlier, but GAAP net income fell 57.1% to $70 million after $76 million in exit and restructuring charges. The Board also approved a $1 billion increase to the share repurchase authorization, which has no stated expiration date and brings total remaining authorization to more than $1.1 billion.
Q4 2025 GAAP net income was $70 million, or $1.39 per diluted share, versus $163 million, or $3.14, in Q4 2024.
Q4 2025 non-GAAP diluted EPS rose 8.3% to $4.33 from $4.00 a year earlier.
The Board approved a $1 billion increase to the share repurchase authorization; the company returned more than $580 million to shareholders through buybacks in 2025.
The company guided full-year 2026 sales growth of 9% to 13% and non-GAAP diluted EPS of $17.70 to $18.30.
Organon reported a fourth-quarter 2025 net loss of $205 million, or $0.79 per diluted share, compared with net income of $109 million, or $0.42 per share, a year earlier. The loss includes a non-cash $301 million goodwill impairment, and full-year revenue fell 3% to $6.2 billion. The company expects 2026 revenue of about $6.2 billion and Adjusted EBITDA of about $1.9 billion, both in line with 2025, while an Audit Committee review of the timing of biosimilar purchases from a supplier is underway.
Q4 2025 revenue was $1.507 billion, down 5% from $1.592 billion, and reported gross margin fell to 49.2% from 56.3%.
Full-year 2025 diluted EPS was $0.72, down from $3.33; non-GAAP Adjusted diluted EPS was $3.66, down from $4.11.
The Audit Committee review began after information was brought to its attention on February 11, 2026; the company has not determined that anything inappropriate occurred.
The Board declared a quarterly dividend of $0.02 per share, payable March 12, 2026, to holders of record on February 23, 2026.
Alkermes completed its acquisition of Avadel Pharmaceuticals on February 12, 2026, paying $21.00 in cash per Avadel share plus one contingent value right per share worth a potential additional $1.50. The deal was funded with $1.525 billion of new term loans due 2031 and about $750 million of Alkermes cash, and the company says it expects the transaction to be accretive in 2026. Shareholders face higher debt and first-quarter 2026 transaction costs of $40 million, with the full 2026 outlook due February 25, 2026.
Avadel shareholders receive $21.00 cash per share plus one non-transferable CVR per share, with each CVR tied to a potential $1.50 payment on a milestone
Alkermes borrowed the full $1.525 billion under a credit agreement: a $750 million TLA facility maturing February 12, 2031 and a $775 million TLB facility maturing August 12, 2031
Alkermes expects $40 million of transaction-related costs in Q1 2026 and about $180 million of LUMRYZ inventory step-up expensed as cost of goods sold in 2026
The approximately $1.5 billion bridge loan entered November 18, 2025 was terminated, and Avadel shares were halted and will be delisted from Nasdaq
Axos Bank, a subsidiary of Axos Financial, agreed on February 12, 2026 to acquire all U.S. consumer deposits of Jenius Bank, a digital banking business of SMBC MANUBANK, for an estimated $2.6 billion at closing. The Bank will receive cash for the acquired deposit balances, less a negotiated premium, and the deal requires Office of the Comptroller of the Currency approval. The filing does not state the premium amount, so its effect on shareholders cannot be measured from the document.
Deposits to be acquired: estimated at about $2.6 billion at closing
Seller: SMBC MANUBANK; the Bank receives cash for deposit balances, less a negotiated premium
Subject to Office of the Comptroller of the Currency approval; expected to close in late March or April 2026
West Pharmaceutical Services reported fourth-quarter 2025 net sales of $805.0 million, up 7.5%, with reported diluted EPS of $1.82, up 2.2%, and adjusted diluted EPS of $2.04, up 12.1%. The company also issued 2026 guidance calling for adjusted diluted EPS of $7.85 to $8.20, which the filing says represents growth of 7.7% to 12.5%, and assumes a mid-year 2026 close of the SmartDose 3.5mL sale to AbbVie.
Q4 2025 net sales of $805.0 million rose 7.5%; organic growth was 3.3%, with HVP Components up 20.3%.
Q4 2025 diluted EPS was $1.82 (up 2.2%); adjusted diluted EPS was $2.04 (up 12.1%).
2026 guidance: net sales of $3.215 billion to $3.275 billion and adjusted diluted EPS of $7.85 to $8.20.
Full-year 2025 free cash flow was $468.9 million, up 69.6%; 2025 share repurchases totaled $134.0 million.
Baxter reported fourth-quarter 2025 sales from continuing operations of $2.97 billion, up 8% on a reported basis, but posted a GAAP net loss of $1.128 billion after a $485 million goodwill impairment and a $330 million valuation allowance on U.S. deferred tax assets. Adjusted diluted EPS from continuing operations fell 24% to $0.44, and the company issued 2026 adjusted EPS guidance of $1.85 to $2.05. The filing also announces a board change and a quarterly dividend of $0.01 per share.
Q4 2025 sales from continuing operations were $2.97 billion, up 8% reported and 3% operational; U.S. sales declined 1% operationally.
GAAP net loss was $1.128 billion, or $2.19 per diluted share, including a $485 million goodwill impairment and a $330 million valuation allowance.
Adjusted diluted EPS from continuing operations was $0.44, down from $0.58 a year earlier; full-year 2026 adjusted EPS guidance is $1.85 to $2.05.
Michael R. McDonnell joins the board effective February 13, 2026; Cathy R. Smith and Stephen H. Rusckowski resign on the same date. The $0.01 dividend is payable April 1, 2026.
Affiliated Managers Group reported fourth-quarter 2025 diluted EPS of $11.21, up from $4.92 a year earlier, with net income attributable to the company of $347.6 million, helped by $243.8 million of affiliate transaction gains. The board also declared a $0.01 quarterly dividend and authorized an additional repurchase program of up to 4.2 million shares, bringing total available repurchase capacity to about 6 million shares.
Q4 2025 consolidated revenue was $556.6 million, versus $524.2 million in Q4 2024
Q4 2025 Economic EPS was $9.48, versus $6.53 a year earlier; full-year 2025 Economic EPS was $26.05
Full-year 2025 diluted EPS was $22.74, versus $15.13 in 2024
Dividend of $0.01 per share is payable March 9, 2026 to holders of record on February 23, 2026
Diebold Nixdorf reported fourth-quarter 2025 revenue of $1.10 billion, up 11.7% from a year earlier, and GAAP diluted EPS of $1.37 versus $0.15. For full-year 2025, revenue rose 1.5% to $3.81 billion and GAAP diluted EPS was $2.54 versus a loss of $0.44 in 2024. The company said its new 2026 outlook is above the targets it gave at its 2025 Investor Day and announced a new $200 million share repurchase program.
Q4 2025 revenue $1.10 billion, up 11.7%; GAAP net income $50.5 million versus $6.4 million a year earlier
FY 2025 free cash flow $239 million (non-GAAP), versus $108.8 million in 2024; company described it as a record
2026 guidance: total revenue $3.86 billion to $3.94 billion, adjusted EPS $5.25 to $5.75, free cash flow $255 million to $270 million
New $200 million share repurchase program, following a $100 million program completed in Q4; about $128 million of shares repurchased in FY 2025
Dana Incorporated said its board appointed Byron Foster, currently Senior Vice President and President of Light Vehicle Systems, as President and Chief Executive Officer effective July 1, 2026. Foster was also elected to the board effective February 11, 2026, and R. Bruce McDonald will remain CEO until that date and continue as Chairman afterward. The filing is a planned succession at the top of the company and does not report any financial results.
Byron Foster, 57, named CEO effective July 1, 2026, and joined Dana in 2021
Foster elected to the Board of Directors effective February 11, 2026
R. Bruce McDonald serves as CEO until July 1, 2026, then continues as Chairman
Foster previously held executive roles at Johnson Controls and Adient plc
Crocs reported fourth-quarter and full-year 2025 results on February 12, 2026. Revenue fell 3.2% to $958 million in the quarter and 1.5% to $4,041 million for the year, while full-year GAAP results were hit by $430 million and $307 million impairments on the HEYDUDE trademark and goodwill, producing a diluted loss of $1.50 per share. The company guided 2026 adjusted diluted EPS to $12.88 to $13.35, versus $12.51 in 2025, which matters to shareholders because it signals expected profit growth after a year of large write-downs.
Q4 2025 revenue was $958 million, down 3.2%; diluted EPS was $2.03 versus $6.36, and adjusted diluted EPS was $2.29 versus $2.52.
Full-year 2025 revenue was $4,041 million, down 1.5%; GAAP diluted loss was $1.50 per share versus earnings of $15.88, while adjusted diluted EPS was $12.51, down 5.0%.
2026 adjusted diluted EPS guidance is $12.88 to $13.35; Q1 2026 adjusted diluted EPS guidance is $2.67 to $2.77.
The company repurchased 6.5 million shares for $577 million in 2025 and had $747 million of authorization remaining at year-end.
Core Natural Resources reported a fourth-quarter 2025 net loss of $79.0 million, or $(1.54) per diluted share, compared with net income of $30.8 million, or $1.04 per diluted share, a year earlier. Revenue rose to $1.042 billion from $573.6 million, and the company also issued 2026 sales volume and cost guidance and declared a $0.10 quarterly dividend.
Q4 2025 revenues were $1.042 billion, versus $573.6 million in Q4 2024; net loss was $79.0 million, or $(1.54) per diluted share.
Adjusted EBITDA was $103.1 million, including $36.4 million of fire extinguishment and idle mine costs at Leer South and West Elk.
2026 total sales volume guidance is 85.6 to 91.4 million tons, and capital expenditures are guided to $325 million to $375 million.
The board declared a $0.10 per share dividend payable March 16, 2026, to stockholders of record on March 2, 2026.
Iridium reported fourth-quarter 2025 total revenue of $212.9 million, flat from a year earlier, while net income fell to $24.9 million from $36.3 million. For full-year 2025, revenue rose 5% to $871.7 million and diluted EPS rose 13% to $1.06, and the company gave 2026 OEBITDA guidance of $480 million to $490 million, which includes a $17 million impact from paying incentive compensation entirely in cash.
Q4 2025 net income was $24.9 million, or $0.24 per diluted share, versus $36.3 million, or $0.32, in Q4 2024; Q4 OEBITDA was $115.3 million, down 2%.
Full-year 2025 net income was $114.4 million, up from $112.8 million, and OEBITDA was $495.3 million, up 5%.
2026 outlook: service revenue growth of flat to 2% and OEBITDA of $480 million to $490 million; without the incentive compensation change, OEBITDA would have been projected at $497 million to $507 million.
Net leverage was 3.4 times OEBITDA at December 31, 2025, with a target of at or below 3.0 times by the end of 2026.
Hyatt reported a fourth-quarter 2025 net loss attributable to Hyatt of $20 million, or $(0.21) per diluted share, compared with a $56 million loss a year earlier, while total revenues rose to $1.8 billion from $1.6 billion. For 2026, the company projects net income of $235 million to $320 million, compared with a $52 million loss in 2025, and Adjusted EBITDA of $1,155 million to $1,205 million, measured against a restated 2025 base of $1,025 million after a change in the Adjusted EBITDA definition.
Q4 2025 gross fees were $307 million, up 4.5% from the prior-year quarter; Q4 Adjusted EBITDA was $292 million, up 14.6%
Q4 Adjusted Diluted EPS was $1.33; full-year 2025 Adjusted Diluted EPS was $2.19
2026 outlook: gross fees of $1,295 million to $1,335 million and Adjusted Free Cash Flow of $580 million to $630 million
Quarterly dividend of $0.15 per share payable March 12, 2026; $114 million of Class A stock repurchased in Q4 2025 and $678 million of authorization remaining
CarMax appointed Keith Barr, former CEO of InterContinental Hotels Group, as President and CEO effective March 16, 2026, and added him to the Board, which grows from nine to ten directors. David McCreight steps down as interim CEO and returns to the Board as an independent director, so the change replaces the company's interim leadership with a permanent chief executive.
Keith Barr is set to receive an annual base salary of $1,250,000 and an annual target bonus of 175% of base salary.
Barr's sign-on awards include restricted stock units and stock options, each with a target grant date fair value of $1,000,000.
Barr's severance agreement provides two times the sum of base salary and target annual bonus if he is terminated without cause or resigns for good reason.
Tom Folliard remains Interim Executive Chair until the Annual Meeting in June 2026.
Materion reported fourth-quarter and full-year 2025 results, with Q4 net sales of $489.7 million and net income of $6.6 million, compared with a net loss of $48.8 million a year earlier. The company guided to 2026 adjusted earnings of $6.00 to $6.50 per share, and said it secured a $65 million investment from a major defense prime to expand beryllium capacity.
Q4 2025 net sales were $489.7 million, up from $436.9 million; net income was $6.6 million, or $0.31 per diluted share, versus a $48.8 million loss a year earlier
Q4 adjusted EPS was $1.53 versus $1.55 a year earlier; Q4 adjusted EBITDA was $57.0 million versus $61.5 million
Full-year 2025 net income was $74.8 million, or $3.58 per diluted share, versus $5.9 million, or $0.28, in 2024
2026 full-year adjusted EPS guidance is $6.00 to $6.50, about 15% above 2025 at the midpoint, and the company received a $65 million customer investment to expand beryllium capacity
US Foods reported fiscal fourth-quarter and full-year 2025 results, with net sales of $39.4 billion (up 4.1%), net income of $676 million (up 36.8%) and diluted EPS of $2.94 (up 45.5%). The company also gave fiscal 2026 guidance calling for Adjusted EBITDA growth of 9% to 13% and Adjusted Diluted EPS growth of 18% to 24%, and it announced a $1 billion share repurchase authorization, which matters to shareholders because it signals expected growth and returns capital to them.
Q4 2025 net sales rose 3.3% to $9.8 billion, and Q4 net income rose to $184 million from $66 million, a period that included a $124 million pension settlement charge in the prior year
Full-year 2025 Adjusted EBITDA rose 11.0% to $1.93 billion, and Adjusted Diluted EPS rose 26.3% to $3.98
Fiscal 2026 guidance: net sales growth of 4% to 6%, Adjusted EBITDA growth of 9% to 13%, and Adjusted Diluted EPS growth of 18% to 24%, including a 53rd week
The company repurchased $934 million of its shares in fiscal 2025 and has a $1 billion repurchase authorization approved by the Board on November 24, 2025
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