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).
Marcus & Millichap reported preliminary fourth quarter and full year 2025 results, with revenue and profit improving from 2024. The results are preliminary because the audit is ongoing and the Form 10-K has not been filed, including work on a valuation allowance for deferred tax assets, so tax and net income figures may change.
Q4 2025 total revenue was $244.0 million, up 1.6% from $240.1 million; diluted EPS was $0.34 vs $0.22 a year earlier.
Full year 2025 revenue was $755.2 million, up 8.5%, and the net loss narrowed to $1.9 million ($0.05 per diluted share) from $12.4 million in 2024.
Full year 2025 Adjusted EBITDA was $24.6 million, up from $9.4 million in 2024.
Tax provision, effective tax rate and net income metrics are preliminary and may be adjusted; the final results will be in the Form 10-K.
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
Morningstar reported fourth-quarter 2025 revenue of $641.1 million, up 8.5%, and diluted earnings per share of $2.83, up 4.4%. GAAP operating income fell 5.1% to $159.6 million, reflecting a $22.7 million contingent payment gain on the sale of US TAMP assets versus $64.0 million a year earlier, along with higher operating expense that included $15.9 million in severance. Full-year 2025 revenue was $2.4 billion, up 7.5%, and the company repurchased $787.0 million of its shares, while long-term debt rose to $1,072.6 million ahead of the CRSP acquisition that closed Feb. 2, 2026.
Q4 2025 revenue was $641.1 million, up 8.5% reported and 8.1% organic.
Q4 diluted EPS was $2.83 versus $2.71; adjusted diluted EPS rose 26.6% to $2.71.
Q4 operating income was $159.6 million, down 5.1%, with the US TAMP contingent gain at $22.7 million versus $64.0 million a year earlier.
Full-year 2025 diluted EPS was $8.87, up 3.4%; the company repurchased $787.0 million of shares in 2025.
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
Healthcare Realty reported fourth quarter 2025 GAAP net income of $14.4 million, or $0.04 per share, compared with a net loss of $106.8 million a year earlier, and NAREIT FFO rose to $0.36 per share from $0.30. The company also issued 2026 guidance calling for Normalized FFO of $1.58 to $1.64 per share, roughly flat with $1.61 in 2025, and a $0.24 quarterly dividend.
Q4 2025 GAAP net income was $14.4 million ($0.04 per share) versus a net loss of $106.8 million ($0.31 per share) in Q4 2024.
Q4 2025 NAREIT FFO was $0.36 per share versus $0.30; Normalized FFO was $0.40 per share, unchanged from the prior year.
2026 guidance: Normalized FFO of $1.58 to $1.64 per share (2025: $1.61) and NAREIT FFO of $1.44 to $1.50 (2025: $1.38).
Dividend of $0.24 per share payable March 11, 2026, to holders of record on February 24, 2026; new commercial paper program of up to $600 million.
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.
Kinsale Capital Group reported fourth-quarter 2025 net income of $138.6 million, or $5.99 per diluted share, up from $109.1 million, or $4.68, a year earlier. For full-year 2025, net income was $503.6 million, or $21.65 per diluted share, compared with $414.8 million, or $17.78, in 2024, and the company also raised its quarterly dividend to $0.25 per share, a 47.1% increase, as stated in the filing.
Q4 2025 net income $138.6 million, $5.99 per diluted share, versus $109.1 million, $4.68 in Q4 2024
Full-year 2025 net income $503.6 million, $21.65 per diluted share, versus $17.78 in 2024
Q4 gross written premiums rose 1.8% to $451.1 million; Commercial Property Division premiums fell 28.3% in the quarter
Artivion reported fourth-quarter 2025 revenue of $116.0 million, up from $97.3 million a year earlier, and GAAP net income of $2.4 million, or $0.05 per diluted share, compared with a net loss of $16.5 million in the prior-year quarter. The company also guided to 2026 revenue of $486 million to $504 million and adjusted EBITDA of $105 million to $110 million.
Q4 2025 GAAP revenue was $116.0 million versus $97.3 million in Q4 2024; full-year 2025 revenue was $441.3 million versus $388.5 million.
Q4 2025 GAAP net income was $2.4 million, or $0.05 per diluted share, versus a net loss of $16.5 million, or $0.39 per share, in Q4 2024.
Full-year 2025 adjusted EBITDA was $89.6 million, and the company expects 2026 adjusted EBITDA of $105 million to $110 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.
Roku reported fourth-quarter and full-year 2025 results in a shareholder letter filed February 12, 2026. Q4 total net revenue was $1.395 billion, up 16% from a year earlier, and the company reported Q4 net income of $80.5 million compared with a $35.5 million loss in Q4 2024. The company also guided to 2026 total net revenue of $5.500 billion and Adjusted EBITDA of $635 million.
Q4 2025 total net revenue was $1.395 billion, up 16% year over year; Q4 net income was $80.5 million, versus a loss of $35.5 million in Q4 2024.
Full-year 2025 total net revenue was $4.737 billion, up 15%, and net income was $88.4 million, versus a loss of $129.4 million in 2024.
For 2026, Roku expects total net revenue of $5.500 billion and Q1 2026 total net revenue of $1.200 billion.
Roku repurchased $150 million of shares under a $400 million stock repurchase program announced in the third quarter of 2025.
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.
Federal Realty reported fourth-quarter and full-year 2025 results on February 12, 2026. Full-year net income available to common shareholders was $403.0 million, or $4.68 per diluted share, up from $287.2 million, or $3.42, in 2024, and total revenue was $1.28 billion. The company also issued 2026 guidance of $7.42 to $7.52 per diluted share for Nareit FFO and Core FFO, and $3.90 to $4.00 for earnings per diluted share.
Q4 2025 net income available to common shareholders was $127.7 million, or $1.48 per diluted share, versus $63.5 million, or $0.75, in Q4 2024.
Full-year 2025 Nareit FFO was $7.22 per diluted share, up 6.6% from $6.77; Core FFO was $7.06, up 4.3%.
Acquired two properties in Q4 2025 totaling $340 million, including Village Pointe in Omaha, NE.
Declared a regular quarterly dividend of $1.13 per common share, payable April 15, 2026.
Arista Networks reported fourth-quarter 2025 revenue of $2.488 billion, up 28.9% from a year earlier, and GAAP net income of $955.8 million, or $0.75 per diluted share, compared with $0.62 a year earlier. For the first quarter of 2026, the company expects revenue of approximately $2.6 billion, with non-GAAP gross margin of about 62-63% and non-GAAP operating margin of about 46%.
Q4 2025 revenue of $2.488 billion, up 28.9% from Q4 2024 and up 7.8% from Q3 2025
Q4 2025 GAAP net income of $955.8 million, or $0.75 per diluted share, versus $0.62 in Q4 2024
Full-year 2025 revenue of $9.006 billion, up 28.6%; GAAP net income of $3.511 billion, or $2.75 per diluted share
Q1 2026 outlook: revenue of approximately $2.6 billion; non-GAAP gross margin of about 62-63%; non-GAAP operating margin of about 46%
Pinterest reported fourth-quarter 2025 revenue of $1.3 billion, up 14% year over year, and full-year revenue of $4.2 billion, up 16%. GAAP net income fell sharply from the prior year, which included a $1.6 billion tax benefit, while non-GAAP net income rose 17% and Adjusted EBITDA rose 15%. The company also guided first-quarter 2026 revenue to $951 million to $971 million.
Q4 2025 revenue was $1,319 million, up 14% (13% in constant currency); full-year 2025 revenue was $4,222 million, up 16%.
Q4 2025 GAAP net income was $277 million, down 85% from $1,847 million a year earlier; the prior-year period included a tax benefit of $1,597.0 million.
Q4 2025 non-GAAP net income rose 17% to $451 million, and Adjusted EBITDA rose 15% to $542 million.
For Q1 2026, Pinterest expects revenue of $951 million to $971 million (11% to 14% growth) and Adjusted EBITDA of $166 million to $186 million.
Dutch Bros reported fourth-quarter and full-year 2025 results on February 12, 2026. Fourth-quarter revenue grew 29.4% year over year to $443.6 million, and net income rose to $29.2 million from $6.4 million, while the company also issued 2026 guidance of $2 billion to $2.03 billion in total revenue and $355 million to $365 million in Adjusted EBITDA.
Q4 2025 total revenues rose 29.4% to $443.6 million, versus $342.8 million in Q4 2024.
Q4 2025 net income was $29.2 million, versus $6.4 million a year earlier; Adjusted EBITDA rose 48.8% to $72.6 million.
Full-year 2025 revenue was $1.64 billion and net income was $117.3 million.
2026 guidance: total revenues of about $2 billion to $2.03 billion, same shop sales growth of 3% to 5%, and Adjusted EBITDA of $355 million to $365 million, including the continued impact of elevated coffee costs.
Vertex reported fourth-quarter 2025 total revenue of $3.19 billion, up 10% from a year earlier, and GAAP net income of $1.19 billion, or $4.65 per diluted share, compared with $913 million, or $3.50 per diluted share, in the fourth quarter of 2024. The company also gave full year 2026 total revenue guidance of $12.95 billion to $13.1 billion, which shareholders can compare with future results.
Q4 2025 GAAP net income was $1.19 billion, or $4.65 per diluted share, versus $913 million, or $3.50 per diluted share, in Q4 2024.
Full year 2025 total revenue was $12.0 billion, up 9%, and GAAP net income was $3.95 billion, compared with a GAAP net loss of $536 million in 2024.
2026 guidance: total revenue of $12.95 billion to $13.1 billion and GAAP R&D, AIPR&D and SG&A expenses of $6.3 billion to $6.45 billion.
Dexcom reported fourth-quarter 2025 revenue up 13% year over year to $1.260 billion and full-year 2025 revenue of $4.662 billion, up 16%. GAAP net income was $267.3 million, or $0.68 per diluted share, compared with $151.7 million, or $0.38 per diluted share, a year earlier. The company reiterated 2026 revenue guidance of $5.16 billion to $5.25 billion and set new Adjusted EBITDA Margin guidance of approximately 30% to 31%.
Q4 2025 revenue was $1.260 billion, up 13% on a reported basis and 12% on an organic basis, from $1.114 billion in Q4 2024.
GAAP operating income was $323.0 million, or 25.6% of revenue, versus $188.9 million in Q4 2024.
2026 guidance: revenue of $5.16 billion to $5.25 billion (reiterated) and Adjusted EBITDA Margin of approximately 30% to 31% (newly established).
Cash, cash equivalents and marketable securities totaled $2.00 billion as of December 31, 2025; the revolving credit facility is undrawn.
Trupanion reported fourth-quarter and full-year 2025 results on February 12, 2026. Fourth-quarter total revenue rose 12% to $376.9 million, and net income was $5.6 million, or $0.13 per diluted share, compared with $1.7 million, or $0.04, a year earlier. Full-year 2025 net income was $19.4 million, or $0.45 per share, versus a net loss of $9.6 million in 2024, though that result includes a $7.8 million realized gain from exchanging a preferred stock investment for intellectual property.
Q4 2025 adjusted EBITDA was $21.8 million, compared with $19.4 million in Q4 2024.
Full-year 2025 total revenue was $1,439.3 million, up 12%; subscription revenue was $989.3 million, up 16%.
Total enrolled pets fell 2% to 1,647,565 at December 31, 2025, while subscription enrolled pets rose 5% to 1,096,173.
Q4 2025 operating cash flow was $29.3 million and free cash flow was $25.3 million; the company held $370.7 million in cash and short-term investments at year-end.
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
Tootsie Roll reported fourth-quarter 2025 net sales of $194,350,000, up 2% from $191,356,000, and net earnings of $28,791,000, up from $22,509,000. Earnings per share rose to $0.40 from $0.31, but the company said higher cocoa and chocolate costs and a prior-year LIFO liquidation benefit weighed on adjusted net earnings, which fell to $29,116,000 from $33,519,000.
Q4 2025 net sales were $194,350,000 versus $191,356,000 in Q4 2024, an increase of $2,994,000 or 2%.
Q4 2025 net earnings were $28,791,000, or $0.40 per share, versus $22,509,000, or $0.31 per share, in Q4 2024.
Full-year 2025 net sales were $724,675,000 and net earnings were $100,052,000, or $1.37 per share, versus $1.18 per share in 2024.
The company estimated its 2025 incremental cost of tariffs at approximately $3.7 million and said lower cocoa and chocolate costs should begin in late 2026.
Lincoln Electric reported fourth-quarter 2025 results in a Form 8-K dated February 12, 2026. Net sales rose 5.5% to $1,078.7 million and adjusted EPS was $2.65, up from $2.57 a year earlier, while GAAP diluted EPS was $2.45 versus $2.47, reflecting special item charges of $10.6 million. For the full year, net sales rose 5.6% to $4,233.0 million and GAAP diluted EPS was $9.32, up from $8.15.
Q4 2025 net sales up 5.5% to $1,078.7 million; organic sales up 2.5%
Q4 2025 GAAP diluted EPS $2.45 vs $2.47 prior year; adjusted EPS $2.65 vs $2.57
Full-year 2025 net sales $4,233.0 million (up 5.6%); GAAP diluted EPS $9.32 vs $8.15
Full-year 2025 cash flow from operations $661.2 million; $507 million returned to shareholders
BGC Group reported fourth-quarter 2025 revenue of $756.4 million, up 32.2% from a year earlier, and full-year revenue of $2.94 billion, up 30.0%. Post-tax Adjusted Earnings per share rose 24.0% to $0.31 in the quarter, while GAAP diluted EPS fell 40.0% to $0.03 after $54.8 million of cost reduction charges. The company guided first-quarter 2026 revenue to $860 million to $920 million.
Q4 2025 revenue $756.4 million, up 32.2%; excluding OTC, revenue rose 12.2% to $641.9 million
Q4 GAAP diluted EPS $0.03 vs $0.05 a year earlier; pre-tax income $25.0 million includes $54.8 million of cost reduction charges
FY2025 revenue $2.94 billion, up 30.0%; GAAP diluted EPS $0.31 vs $0.25
Q1 2026 guidance: revenues $860 million to $920 million; pre-tax Adjusted Earnings $202 million to $222 million; quarterly dividend $0.02 per share payable March 18, 2026
Alnylam reported fourth quarter 2025 total revenues of $1.1 billion, up 85% from a year earlier, and GAAP net income of $111.5 million, compared with a net loss of $83.8 million in the same quarter of 2024. For the full year, total revenues were $3.71 billion, up 65%, and GAAP net income was $313.7 million, compared with a net loss of $278.2 million in 2024. The company reiterated its 2026 total net product revenue guidance of $4.9 billion to $5.3 billion.
Q4 2025 total net product revenues were $995 million, up 121%, led by AMVUTTRA at $827 million.
Full-year 2025 GAAP net income was $313.7 million, versus a net loss of $278.2 million in 2024.
2026 total net product revenue guidance of $4,900 million to $5,300 million was reiterated.
Cash, cash equivalents and marketable securities were $2.91 billion as of December 31, 2025.
IPG Photonics reported fourth-quarter 2025 revenue of $274.5 million, up 17% from a year earlier, and GAAP diluted EPS of $0.31, up from $0.18. Gross margin fell to 36.1% from 38.6% because of higher product costs and tariffs, and operating income dropped 76% to $3.3 million. The board authorized a new $100 million share repurchase program, and the company guided first-quarter 2026 revenue to $235 million to $265 million.
Q4 2025 revenue $274.5 million, up 17% year over year; GAAP diluted EPS $0.31 vs $0.18; adjusted EPS $0.46 vs $0.30
GAAP gross margin 36.1% vs 38.6%, reflecting higher product cost and tariffs; operating income $3.3 million vs $14.0 million
New share repurchase program authorized for up to $100 million of common stock
Q1 2026 guidance: revenue $235 million to $265 million; adjusted EPS $0.10 to $0.40; adjusted EBITDA $25 million to $40 million
Belden reported record fourth-quarter and full-year 2025 results, with revenue up 8% in the quarter and 10% for the year. It also gave first-quarter 2026 guidance of $675 million to $690 million in revenue and $1.65 to $1.75 in adjusted EPS, and said it will report as a single segment starting next quarter.
Q4 2025 revenue was $720 million, up 8% year over year, and GAAP diluted EPS was $1.70, up from $1.42.
Full-year 2025 revenue was $2,715 million, up 10%, and adjusted EPS was $7.54, up 19%.
Q1 2026 guidance: revenue of $675 million to $690 million, GAAP EPS of $1.21 to $1.31, and adjusted EPS of $1.65 to $1.75.
Effective January 1, 2026, Belden moved to a unified functional operating model and will report consolidated financials as a single segment beginning next quarter.
Gates Industrial reported fourth-quarter 2025 net sales of $856.2 million, up 3.2%, and net income attributable to shareholders of $51.3 million, or $0.20 per diluted share, versus $36.5 million a year earlier. For full-year 2025, diluted EPS was $0.96 versus $0.74 in 2024, and the company introduced 2026 guidance for adjusted EBITDA of $775 million to $835 million and adjusted EPS of $1.52 to $1.68.
Q4 2025 net sales $856.2 million, up 3.2%; core sales growth 0.6%
Q4 2025 diluted EPS $0.20 (prior year $0.14); adjusted EPS $0.38 (prior year $0.36)
Full-year 2025 net sales $3,443.2 million, up 1.0%; diluted EPS $0.96 (prior year $0.74)
2026 guidance: core sales growth 1% to 4%, adjusted EBITDA $775 million to $835 million, adjusted EPS $1.52 to $1.68
PHINIA reported fourth-quarter 2025 net sales of $889 million, up 6.7% from a year earlier, and net earnings of $45 million, up from $5 million. For full year 2025, net earnings were $130 million, up from $79 million, and diluted EPS was $3.24 versus $1.76. The company also guided 2026 net sales of $3.52 billion to $3.72 billion and adjusted EBITDA of $485 million to $525 million, compared with $478 million in 2025.
Q4 2025 net sales of $889 million, up 6.7%; Q4 diluted EPS of $1.15 versus $0.12 a year earlier
Full-year 2025 net earnings of $130 million and diluted EPS of $3.24, versus $79 million and $1.76 in 2024
2026 guidance: net sales of $3.52 billion to $3.72 billion; net earnings of $165 million to $195 million; adjusted free cash flow of $200 million to $240 million
Sphere Entertainment reported fourth-quarter 2025 revenue of $394.3 million, up 28% from a year earlier, and operating income of $28.9 million, compared with a $142.9 million loss in the prior-year quarter. Sphere segment revenue rose 62%, driven by The Wizard of Oz at Sphere, while MSG Networks revenue fell 14%. Fourth-quarter diluted earnings were $1.23 per share, compared with a loss of $3.49 per share a year earlier.
Q4 2025 revenue was $394.3 million, up $86.0 million (28%); Sphere segment revenue was $274.2 million, up 62%.
Q4 2025 operating income was $28.9 million versus a $142.9 million loss a year earlier; adjusted operating income was $128.0 million.
Full-year 2025 revenue was $1.22 billion, up 8%; the operating loss was $229.6 million, an improvement of $142.8 million.
MSG Networks Q4 revenue was $120.1 million, down 14%, with total subscribers down about 14.5%.
Curtiss-Wright reported fourth-quarter and full-year 2025 results on February 11, 2026, with Q4 sales up 15% to $947 million and diluted EPS rising to $3.69 from $3.09 a year earlier. The company also gave 2026 guidance of $3,710 million to $3,765 million in sales and adjusted diluted EPS of $14.70 to $15.15, which it says is 11% to 15% growth over 2025 adjusted EPS.
Q4 2025 sales were $947 million, up 15%, and diluted EPS was $3.69 versus $3.09; adjusted diluted EPS was $3.79, up 16%.
Full-year 2025 sales were $3.5 billion, up 12%, and diluted EPS was $12.87 versus $10.55 in 2024.
2026 guidance: total sales of $3,710 million to $3,765 million and adjusted diluted EPS of $14.70 to $15.15; free cash flow guidance is $575 million to $595 million.
The company repurchased $465 million of stock in 2025 and declared a quarterly dividend of $0.24 a share.
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.
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
Zoetis reported fourth quarter 2025 revenue of $2.4 billion, up 3%, and full year 2025 revenue of $9.5 billion, up 2%. The company also guided 2026 revenue to $9.825 billion to $10.025 billion and adjusted diluted EPS to $7.00 to $7.10, compared with $6.41 in 2025, though part of the fourth quarter International sales growth reflects timing changes the company says will not recur at the end of 2026.
Q4 2025 net income $603 million, or $1.37 per diluted share, up 4% and 6% on a reported basis; adjusted diluted EPS $1.48
FY 2025 net income $2.7 billion, or $6.02 per diluted share, up 10%; adjusted diluted EPS $6.41
2026 guidance: reported diluted EPS $6.65 to $6.75; adjusted diluted EPS $7.00 to $7.10
Q4 2025 U.S. segment revenue fell 2% to $1.2 billion; International grew 8% to $1.1 billion, with 2.5% to 3.5% attributed to timing changes
Howmet Aerospace reported fourth quarter and full year 2025 results on February 12, 2026, with full year revenue of $8.3 billion, up 11%, and GAAP net income of $1.5 billion, or $3.71 per share, versus $2.81 in 2024. For 2026, the company guided to revenue growth of about 10%, with a baseline of $9.1 billion and baseline adjusted EPS of $4.45, and said it expects improved profit and cash generation.
Fourth quarter 2025 revenue was $2.2 billion, up 15% year over year, and GAAP EPS was $0.92, up 19%.
Full year 2025 adjusted EPS excluding special items was $3.77, up 40% year over year, and Free Cash Flow was $1.4 billion.
FY 2026 baseline guidance: revenue of $9.1 billion, adjusted EBITDA of $2.76 billion, and adjusted EPS of $4.45.
The company repurchased $700 million of common stock in 2025 and another $150 million so far in 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
Kimco Realty reported fourth quarter and full year 2025 results and gave an initial 2026 outlook. Fourth quarter FFO per diluted share rose 4.8% to $0.44, while quarterly net income per diluted share fell to $0.21 from $0.23. For the full year, FFO per diluted share rose 6.7% to $1.76 and the company projects $1.80 to $1.84 for 2026.
Q4 2025 FFO per diluted share was $0.44, up from $0.42 in Q4 2024; Q4 net income per diluted share was $0.21, down from $0.23.
Full year 2025 net income per diluted share was $0.82, up from $0.55 in 2024, and FFO per diluted share was $1.76, up from $1.65.
2026 outlook projects net income of $0.80 to $0.84 and FFO of $1.80 to $1.84 per diluted share.
Board declared a quarterly common dividend of $0.26 per share, a 4.0% increase, payable March 19, 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
Granite reported fourth-quarter and full-year 2025 results. Q4 net income attributable to Granite rose 25% to $52 million, and diluted EPS rose 23% to $1.03; full-year diluted EPS rose 47% to $3.86. The company also issued 2026 guidance calling for revenue of $4.9 billion to $5.1 billion, compared with $4.4 billion in 2025.
Q4 2025 revenue increased 19% year-over-year to $1.2 billion; Q4 diluted EPS was $1.03 versus $0.84 a year earlier
Committed and Awarded Projects reached a record $7.0 billion at December 31, 2025, up 32% year-over-year
Full-year 2025 revenue was $4.4 billion, up 10%; full-year adjusted EBITDA was $527 million, up 31%
2026 guidance: revenue of $4.9 billion to $5.1 billion and adjusted EBITDA margin of 12.0% to 13.0%
Vontier reported fourth-quarter 2025 sales of $808.5 million, up 4.1% from a year earlier, and adjusted diluted earnings per share of $0.86, up from $0.80. For full-year 2025, adjusted diluted EPS was $3.20, up from $2.89, and the company completed $300 million in share repurchases. It also issued 2026 guidance for adjusted diluted EPS of $3.35 to $3.50, above the 2025 level.
Q4 2025 sales $808.5 million, up 4.1%; GAAP diluted EPS $0.85 vs. $0.82 a year earlier
Q4 Mobility Technologies segment operating margin fell 220 basis points to 18.5%, including a one-time reserve adjustment at Invenco
FY 2026 guidance: total sales $3,100 to $3,150 million and adjusted diluted EPS $3.35 to $3.50; Q1 2026 adjusted EPS $0.78 to $0.81
GEO Group reported fourth quarter 2025 revenue of $707.7 million, up from $607.7 million a year earlier, and net income attributable to GEO of $31.8 million, or $0.23 per diluted share, compared with $0.11 a year earlier. The company also issued initial 2026 guidance calling for GAAP net income of $0.99 to $1.07 per diluted share on revenue of $2.9 billion to $3.1 billion, which is below full-year 2025 GAAP EPS of $1.82 that included a $232.4 million pre-tax asset divestiture gain.
Q4 2025 revenue $707.7 million vs $607.7 million in Q4 2024; EPS $0.23 vs $0.11 per diluted share
Full-year 2025 GAAP EPS $1.82 includes a $232.4 million pre-tax gain on asset divestitures; adjusted EPS was $0.86
2026 guidance: GAAP EPS $0.99 to $1.07 and Adjusted EBITDA $490 million to $510 million; Q1 2026 EPS $0.17 to $0.19
At year-end 2025 cash was about $70 million and total debt about $1.65 billion; Q4 buybacks totaled $49.0 million with $409.4 million of authorization remaining
TransUnion reported fourth-quarter 2025 revenue of $1,171 million, up 13% from a year earlier, and diluted EPS of $0.52 versus $0.34, with the company saying results exceeded its prior guidance. It also introduced 2026 guidance calling for 8% to 9% revenue growth and 8% to 10% Adjusted Diluted EPS growth, and on February 11, 2026 it added $400 million of revolving credit commitments, bringing total revolving commitments to $1.0 billion.
Q4 2025 net income attributable to TransUnion was $101 million, versus $66 million a year earlier; Adjusted EBITDA was $417 million, up 10%, with margin of 35.6% versus 36.5%.
Full-year 2026 guidance: revenue of $4,946 million to $4,981 million and Adjusted Diluted EPS of $4.63 to $4.71.
First-quarter 2026 guidance: net income attributable to TransUnion of $118 million to $123 million, a decline of 17% to 20%.
On February 11, 2026, total revolving credit commitments rose to $1.0 billion under Amendment No. 25 to the Credit Agreement, with Deutsche Bank AG New York Branch as administrative agent.
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