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).
Avista Corp. reported 2025 net income based on GAAP of $193 million, or $2.38 per diluted share, up from $180 million, or $2.29, in 2024, and non-GAAP utility earnings of $207 million, or $2.55 per diluted share, up from $187 million, or $2.38. It initiated 2026 non-GAAP utility earnings guidance of $2.52 to $2.72 per diluted share, which reflects a $0.12 decrease from a large industrial customer's notice that it will return to procuring power independently sooner than expected. The company also said a late-December Washington order on its exit from Colstrip negatively affected 2025 utility earnings.
Full-year 2025 non-GAAP utility earnings were $207 million, or $2.55 per diluted share, versus $187 million, or $2.38, in 2024.
Full-year 2025 GAAP net income was $193 million, or $2.38 per diluted share, versus $180 million, or $2.29, in 2024.
Fourth-quarter 2025 non-GAAP utility earnings were $72 million, or $0.88 per diluted share, versus $0.89 in the fourth quarter of 2024.
2026 non-GAAP utility earnings guidance is $2.52 to $2.72 per diluted share, reflecting a $0.12 decrease from a large industrial customer's departure.
LifeStance reported fourth-quarter 2025 revenue of $382.2 million, up 17%, and net income of $11.7 million, compared with a net loss a year earlier, and issued 2026 guidance for revenue of $1.615 billion to $1.655 billion. The Board also approved a share repurchase program of up to $100 million and announced that Executive Chairman Kenneth Burdick will become non-executive Chairman effective March 16, 2026.
Q4 2025 revenue was $382.2 million, up 17%; full year revenue was $1,424.3 million, up 14%.
Q4 2025 net income was $11.7 million, versus a net loss of $7.1 million in Q4 2024; full year net income was $9.7 million.
2026 guidance: revenue of $1.615 billion to $1.655 billion and Adjusted EBITDA of $185 million to $205 million.
Board approved a repurchase program of up to $100 million of common stock; Kenneth Burdick moves to non-executive Chairman effective March 16, 2026.
Arcosa agreed to sell all shares of Arcosa Marine Products, Inc., its barge business, to ACMP Buyer, LLC, an affiliate of Wynnchurch Capital, for about $450 million in cash, subject to customary adjustments. The company said it intends to use the net after-tax proceeds to invest in its core growth platforms and reduce debt. The barge business reported 2025 revenue of $383 million and Adjusted Segment EBITDA of $68 million, and closing depends on regulatory approval.
Price: about $450 million in cash, subject to customary purchase price adjustments
Expected close in the second quarter of 2026, subject to HSR waiting period expiration and absence of legal restraints
Either party may terminate if the deal has not closed by June 24, 2026, subject to extensions; no financing condition
Barge business 2025 revenue of $383 million and Adjusted Segment EBITDA of $68 million, reported within Transportation Products
UFP Technologies and customer Intuitive Surgical signed Amendment No. 27 to their manufacturing supply agreement on February 19, 2026, effective January 1, 2026. The amendment extends the agreement by two years through December 31, 2029, raises annual minimum volumes for the largest program in 2028 and 2029, and adds a new program, which points to a longer and larger commitment from a key medical customer.
Amendment No. 27 signed February 19, 2026 and effective January 1, 2026
Agreement term extended two years, through December 31, 2029
Annual minimum volumes for the largest program increased for 2028 and 2029; an additional program added
Volume-based pricing and cost-sharing provisions added; dollar amounts not disclosed in the filing
UFP Technologies disclosed a material cybersecurity incident after detecting suspicious activity in its IT systems on or about February 14, 2026. The company says the attacker has been removed, access has been restored in all material respects, and operations have continued in all material respects, though some data appears to have been stolen or destroyed and the investigation into personal information is ongoing. The company expects a significant portion of direct response costs to be reimbursed by insurance and does not believe the incident is reasonably likely to materially affect its financial condition or results of operations.
Suspicious activity detected on or about February 14, 2026; affected billing and label making for customer deliveries
Company says the third party has been removed and access restored in all material respects
Certain company data appears stolen or destroyed; investigation into personal information and required notifications is ongoing
Company expects a significant portion of direct response costs to be covered by insurance recoveries
Benchmark Electronics signed an employment agreement with David Moezidis, who will become President and Chief Executive Officer on March 31, 2026, and is expected to join the board as a director. The agreement sets a $900,000 base salary, equity awards and severance terms, which are detailed in the filing.
Effective date of employment as President and CEO is March 31, 2026; agreement dated February 19, 2026
Annual base salary of $900,000 with target cash bonus of 115% and maximum of 200% of base salary
Equity awards of $2,500,000 in February 2026 plus $1,500,000 on the effective date, split 50% restricted stock units and 50% performance stock units
Severance without cause or for good reason is two times the Total Cash Amount plus a pro rata bonus; three times within 24 months after a change in control
Solaris reported fourth quarter 2025 revenue of $180 million, up 8% from the third quarter, and a net loss of $4 million, or $(0.04) per diluted Class A share, which included a $41 million loss on debt extinguishment. The company raised its first quarter 2026 Adjusted EBITDA guidance to $72-77 million and set second quarter guidance at $76-84 million. For shareholders, higher revenue and raised guidance are offset by a GAAP net loss driven by the debt charge.
Fourth quarter 2025 revenue of $180 million, up 8% sequentially and up from $96 million in fourth quarter 2024.
Net loss of $4 million, or $(0.04) per diluted Class A share, including a $41 million loss on extinguishment of the Term Loan.
Adjusted pro forma earnings of $0.35 per fully diluted share, compared with $0.12 a year earlier.
First quarter 2026 Adjusted EBITDA guidance raised to $72-77 million from $70-75 million; second quarter guidance set at $76-84 million.
Shake Shack's board designated Peter Herpich, its Corporate Controller, as interim principal financial officer on February 23, 2026, while the company searches for a new chief financial officer. The change follows the November 2025 resignation of CFO Katherine Fogertey, who will serve as a Senior Advisor until March 4, 2026. The filing is a leadership change in the finance function, and it does not report any change to financial results or guidance.
Peter Herpich, age 55, designated interim principal financial officer on February 23, 2026
Katherine Fogertey resigned as CFO in November 2025 and will serve as Senior Advisor until March 4, 2026
Company has commenced a search for a new Chief Financial Officer
Herpich joined Shake Shack in May 2023 and previously held controller roles at Casper Inc. and Barnes & Noble, Inc.
Sun Communities reported fourth-quarter 2025 net income attributable to common shareholders of $121.9 million, or $0.99 per diluted share, compared with a loss of $224.4 million a year earlier. Core FFO per share was $1.40 in the quarter, down slightly from $1.41, and $6.68 for the full year, down from $6.81, but the company guided 2026 Core FFO to $6.83 to $7.03 per share and raised its quarterly distribution to $1.12 from $1.04.
Q4 2025 net income attributable to common shareholders was $121.9 million, or $0.99 per diluted share, versus a $224.4 million loss, or $1.77 per share, in Q4 2024.
Core FFO per share was $1.40 for Q4 2025 and $6.68 for full-year 2025, compared with $1.41 and $6.81 in the prior-year periods.
2026 guidance projects Core FFO per share of $6.83 to $7.03 for the full year and $1.24 to $1.32 for the first quarter.
The Board approved a quarterly distribution of $1.12 per share, up $0.08 or about 8%, with the first payment expected in April 2026.
Globus Medical reported fourth-quarter 2025 worldwide net sales of $826.4 million, up 25.7%, and GAAP diluted EPS of $1.03 versus $0.19 a year earlier. The company reaffirmed 2026 revenue guidance of $3.18 to $3.22 billion and raised its non-GAAP diluted EPS guidance to $4.40 to $4.50 from $4.30 to $4.40. The sales growth includes the Nevro acquisition; the base business excluding Nevro grew 10.6% in the quarter.
Q4 2025 worldwide net sales were $826.4 million, up 25.7%; base business excluding Nevro rose 10.6%.
Q4 2025 GAAP net income was $140.6 million; GAAP diluted EPS was $1.03 versus $0.19 in Q4 2024.
2026 revenue guidance reaffirmed at $3.18 to $3.22 billion; non-GAAP diluted EPS guidance raised to $4.40 to $4.50 from $4.30 to $4.40.
HP reported fiscal 2026 first-quarter results for the period ended January 31, 2026, with net revenue of $14.4 billion, up 6.9% from a year earlier, and non-GAAP diluted EPS of $0.81, up from $0.74. GAAP diluted EPS fell slightly to $0.58 from $0.59. HP kept its annual guidance but said it currently expects results closer to the low end of the range for GAAP EPS, non-GAAP EPS and free cash flow, citing rising memory costs.
Net revenue was $14.4 billion, up 6.9% (5.2% in constant currency) from $13.5 billion a year earlier.
GAAP diluted EPS was $0.58 versus $0.59; non-GAAP diluted EPS was $0.81 versus $0.74.
Fiscal 2026 guidance is maintained at non-GAAP diluted EPS of $2.90 to $3.20 and free cash flow of $2.8 to $3.0 billion, with results expected at the lower end.
Second-quarter non-GAAP diluted EPS is estimated at $0.70 to $0.76.
Axon reported fourth-quarter 2025 revenue of $797 million, up 39% year over year, and set 2026 guidance of 27% to 30% revenue growth. GAAP net income fell to $3 million from $135 million a year earlier, with an operating loss of $50 million, while non-GAAP net income rose to $178 million.
Q4 2025 revenue of $797 million, up 39% year over year; Software & Services revenue of $343 million, up 40%
Operating loss of $50 million; net income of $3 million, or $0.03 per diluted share, versus $135 million a year earlier
Non-GAAP net income of $178 million, or $2.15 per diluted share, versus $168 million a year earlier
2026 outlook of 27% to 30% revenue growth and 25.5% Adjusted EBITDA margin; new 2028 target of $6 billion in annual revenue
Mosaic reported a fourth-quarter 2025 net loss of $519 million, compared with net income of $169 million a year earlier, and cited $422 million in pre-tax notable items. For full year 2025, net income rose to $541 million from $175 million and adjusted EBITDA reached $2.4 billion, up 10 percent, though the company's 2026 phosphate and potash outlook was given without a change to prior guidance figures in the filing.
Q4 2025 net loss of $519 million, or diluted EPS of $(1.64), versus net income of $169 million in Q4 2024
Full-year 2025 net income of $541 million and diluted EPS of $1.70; adjusted EBITDA of $2.4 billion, up 10 percent
Q4 2025 adjusted EBITDA of $505 million, down from $594 million; net sales of $3.0 billion versus $2.8 billion
2026 outlook includes capital expenditures of approximately $1.5 billion and potash production of approximately 9 million tonnes
Resideo Technologies reported fourth-quarter and full-year 2025 results and gave a 2026 outlook. The full-year GAAP net loss of $527 million, driven by the expense of terminating the Indemnification Agreement with Honeywell, reversed a $116 million profit in 2024, while net revenue and Adjusted EBITDA rose. Shareholders face a large 2025 loss but a 2026 outlook calling for higher revenue and Adjusted EPS than 2025.
Full-year 2025 net loss of $527 million, compared with net income of $116 million in 2024, driven by the Indemnification Agreement termination expense; diluted loss per share was $3.77.
Full-year 2025 net revenue of $7.47 billion, up 11%, and Adjusted EBITDA of $833 million, up 20%.
Fourth-quarter 2025 net income of $136 million versus $23 million a year earlier; Adjusted EPS was $0.50 versus $0.59.
2026 outlook: net revenue of $7.8 billion to $7.9 billion and Adjusted EPS of $3.00 to $3.20, compared with 2025 Adjusted EPS of $2.68.
Trex Company said CEO Bryan Fairbanks will resign as President, CEO and director effective April 28, 2026, and that Executive Vice President and COO Adam Zambanini will succeed him and join the Board that day. Fairbanks will stay on through April 27, 2026 to support the transition, then serve as a consultant. The filing reports no disagreement with the company as the reason for his departure.
Fairbanks resigns as President and CEO and as a director, effective April 28, 2026; the Board will remain at ten members.
Zambanini, 49, becomes CEO and a director; his salary rises to $900,000, and his target incentive awards increase to 110% of base salary (annual plan) and 450% (stock plan).
Fairbanks receives $16,666 per full month as a consultant during a consulting term ending April 30, 2027.
Trex announced fourth quarter and full year 2025 results in a separate release the same day, with a conference call at 4:30 p.m. ET.
Verra Mobility reported fourth quarter 2025 revenue up 16% to $257.9 million and full year revenue up 11% to $979.1 million, with full year net income of $136.6 million versus $31.4 million in 2024. Fourth quarter Adjusted EPS fell to $0.30 from $0.33, and Adjusted EBITDA margin fell to 39% from 46%, while the company guided 2026 Adjusted EBITDA of $405 million to $415 million, compared with $415.9 million in 2025.
Q4 2025 revenue was $257.9 million, up 16% from $221.5 million; Q4 net income was $18.9 million, or $0.12 per share, versus a net loss of $66.7 million in Q4 2024, which included a goodwill impairment
Full year 2025 Adjusted EPS was $1.32, up from $1.23 in 2024; Q4 Adjusted EBITDA was $101.8 million versus $102.0 million a year earlier
2026 guidance: total revenue of $1,020 million to $1,030 million, Adjusted EBITDA of $405 million to $415 million, Adjusted EPS of $1.32 to $1.38, and Free Cash Flow of $150 million to $160 million
A new five-year New York City Department of Transportation contract, effective January 1, 2026, has a total value of $998 million; the company repurchased $133.4 million of its shares in Q4 2025
Supernus reported fourth-quarter and full-year 2025 results and issued 2026 guidance in a press release furnished as Exhibit 99.1. Revenue grew, but the company swung to a net loss, driven mainly by higher selling, general and administrative expenses, including about $72.9 million of Sage acquisition-related costs in 2025. The 2026 outlook projects total revenues of $840 million to $870 million and GAAP operating earnings of $0 to $30 million.
Q4 2025 total revenues were $211.6 million, up 21% from $174.2 million; full-year 2025 revenues were $719.0 million, up 9%.
Q4 2025 net loss was $4.1 million, or $0.07 per diluted share, versus net earnings of $15.3 million, or $0.27, a year earlier; full-year net loss was $38.6 million, or $0.68 per share.
2026 guidance: total revenues of $840 million to $870 million, GAAP operating earnings of $0 to $30 million, and adjusted operating earnings (non-GAAP) of $140 million to $170 million.
ONAPGO new patient initiation resumed in the first quarter of 2026; Q4 2025 ONAPGO net sales were $8.9 million.
EXL reported fourth-quarter and full-year 2025 results, with revenue and earnings per share both up year over year. The company also issued 2026 guidance calling for revenue growth of 9% to 11%, and its board authorized a $500 million share repurchase program effective February 28, 2026.
Q4 2025 revenue was $542.6 million, up 12.7% from $481.4 million a year earlier; Q4 GAAP diluted EPS was $0.38, up from $0.31.
Full-year 2025 revenue was $2.09 billion, up 13.6%; GAAP diluted EPS was $1.54, up 28.0% from $1.21.
2026 guidance: revenue of $2.275 billion to $2.315 billion and adjusted diluted EPS of $2.14 to $2.19.
Board authorized a $500 million common stock repurchase program, effective February 28, 2026, for a two-year period.
Trex reported fourth-quarter and full-year 2025 results in a press release furnished as Exhibit 99.1. Full-year net sales rose 2.0% to $1.2 billion, but net income fell to $190 million from $238 million, and fourth-quarter net sales declined to $161 million from $168 million. The company also gave 2026 guidance for revenue of $1.185 billion to $1.230 billion and authorized a $150 million share repurchase for the first half of 2026.
Full-year net sales rose 2.0% to $1.2 billion; full-year net income was $190 million, or $1.78 per diluted share, versus $238 million, or $2.20, in 2024.
Fourth-quarter net sales were $161 million versus $168 million a year earlier; fourth-quarter net income was $2 million, or $0.02 per diluted share.
2026 guidance: revenue of $1.185 billion to $1.230 billion and adjusted EBITDA of $315 million to $340 million.
The board authorized a $150 million share repurchase program to be executed in the first half of 2026.
Gulfport Energy reported fourth quarter and full year 2025 results and issued 2026 operational and financial guidance on February 24, 2026. Fourth quarter net income was $132.4 million, compared with a net loss of $273.2 million a year earlier, and the company plans to repurchase more than $140 million of its common stock in the first quarter of 2026.
Q4 2025 total revenues were $398.2 million, up from $239.9 million in Q4 2024.
Full year 2025 net income was $427.8 million, compared with a net loss of $261.4 million in 2024.
2026 guidance calls for net daily production of 1.030 to 1.055 Bcfe per day and total capital expenditures of $400 million to $430 million.
The company plans to repurchase more than $140 million of common stock during the first quarter of 2026.
SPX Technologies reported fourth-quarter and full-year 2025 results that grew across revenue, GAAP EPS and adjusted EPS, and issued 2026 guidance calling for higher revenue, adjusted EBITDA and adjusted EPS than in 2025. For shareholders, the filing shows higher earnings in 2025 and a 2026 outlook that projects further growth, with the company citing demand, acquisitions and production capacity.
Q4 2025 revenue was $637.3 million, up 19.4%, and GAAP EPS was $1.54, up 29.4%.
Full-year 2025 revenue was $2,265.1 million, up 14.2%, and adjusted EPS was $6.76, up 21.1%.
2026 guidance: revenue of $2.535 to $2.605 billion, adjusted EBITDA of $590 to $620 million, and adjusted EPS of $7.60 to $8.00, compared with 2025 levels of $2.265 billion, $507 million and $6.76.
Realty Income reported fourth-quarter 2025 net income available to common stockholders of $296.1 million, or $0.32 per share, up from $199.6 million, or $0.23 per share, a year earlier, on total revenue of $1,487.9 million versus $1,340.3 million. The company also introduced 2026 AFFO per share guidance of $4.38 to $4.42, compared with full-year 2025 AFFO of $4.28 per share.
Q4 2025 net income per share was $0.32, compared with $0.23 in Q4 2024; AFFO per share was $1.08, compared with $1.05
Full-year 2025 AFFO per share was $4.28, compared with $4.19 in 2024
2026 guidance: net income per share of $1.65 to $1.69 and AFFO per share of $4.38 to $4.42; initial investment volume of approximately $8.0 billion
Occupancy was 98.9% at December 31, 2025, compared with 98.7% at September 30, 2025
Jazz Pharmaceuticals reported full-year 2025 total revenues of $4.3 billion, up 5%, and fourth-quarter revenues of $1.2 billion, up 10%, but its GAAP net result swung to a loss of $356 million for the year after a profit of $560 million in 2024. The company also guided to 2026 total revenues of $4.25 billion to $4.50 billion, which gives shareholders a revenue outlook while the 2025 loss was driven largely by acquired in-process R&D charges.
Full-year 2025 total revenues were $4.27 billion, up from $4.07 billion in 2024; fourth-quarter revenues were $1.20 billion, up 10%.
Full-year 2025 GAAP net loss was $356 million, or $5.84 per diluted share, compared with GAAP net income of $560 million, or $8.65 per diluted share, in 2024.
Acquired in-process R&D expense was $948 million in 2025, including $905 million for Modeyso from the Chimerix acquisition.
2026 guidance calls for total revenues of $4.25 billion to $4.50 billion.
Workday reported fiscal fourth-quarter 2026 total revenues of $2.532 billion, up 14.5%, and GAAP diluted earnings per share of $0.55, up from $0.35 a year earlier. It also guided fiscal 2027 subscription revenues to $9.925 billion to $9.950 billion, or 12% to 13% growth, while restructuring expenses rose to $303 million for the full year from $84 million.
Q4 total revenues were $2.532 billion, up 14.5%; GAAP diluted EPS was $0.55 versus $0.35.
Fiscal 2026 total revenues were $9.552 billion, up 13.1%; GAAP operating income was $721 million versus $415 million.
Fiscal 2027 guidance: subscription revenues of $9.925 billion to $9.950 billion and non-GAAP operating margin of about 30.0%.
Co-founder Aneel Bhusri returned as chief executive officer; the company repurchased 12.8 million Class A shares for $2.9 billion in fiscal 2026.
Expeditors International reported fourth-quarter 2025 results that declined from the same quarter of 2024, with diluted EPS down 11% to $1.49 and revenue down 3% to $2.9 billion. The company said ocean rates fell sharply and may remain soft in 2026, and its Board approved a new share repurchase program of up to $3 billion, which takes effect when the current program ends at 130 million outstanding shares.
Diluted EPS was $1.49 versus $1.68 a year earlier, down 11%; net earnings attributable to shareholders were $201 million, down 15%.
Operating income fell 17% to $251 million; ocean revenue per container fell 41% compared with the fourth quarter of 2024.
For full-year 2025, diluted EPS rose 4% to $5.95 and the company returned $875 million through dividends and share repurchases.
The Board authorized a new share repurchase program of up to $3 billion on February 23, 2026, effective when the current program expires at 130 million outstanding shares.
Chewy's board appointed Vice President of Finance Christopher S. Deppe as chief financial officer effective February 23, 2026, ending an interim arrangement in which Chief Accounting Officer William Billings served as principal financial officer during the CFO search. The company's February 24, 2026 press release also reaffirmed its guidance for fiscal year 2025 and stated its long-term margin target of 10% Adjusted EBITDA.
Deppe's offer letter sets an annual base salary of $450,000 and a 2026 target bonus equal to 100% of eligible earnings.
Deppe receives a one-time RSU equity grant valued at $8,781,141 as of the grant date, subject to Board approval after his start date.
Billings was removed as interim principal financial officer but remains Chief Accounting Officer; the filing says the removal was not due to any disagreement with the company.
Chewy reaffirmed guidance for fiscal year 2025 and stated it remains on track toward the 10% Adjusted EBITDA margin outlined at its Investor Day.
NexPoint Residential Trust reported a 2025 net loss attributable to common stockholders of $32.0 million, or $1.26 per diluted share, compared with net income of $1.1 million in 2024, as full-year revenue fell to $251.3 million from $259.7 million. It also issued initial 2026 guidance for a net loss of $1.26 to $1.54 per diluted share and Core FFO of $2.42 to $2.71 per diluted share, against $2.79 in 2025, which points to lower Core FFO for shareholders if the guidance holds.
Full-year 2025 net loss attributable to common stockholders was $32.0 million, or $1.26 per diluted share, versus net income of $1.1 million, or $0.04 per share, in 2024.
Total revenues were $251.3 million for 2025 versus $259.7 million in 2024; fourth-quarter revenues were $62.1 million versus $63.8 million.
Fourth-quarter 2025 net loss was $10.3 million, or $0.41 per share, versus $26.9 million, or $1.06 per share, a year earlier; Core FFO was $0.65 per diluted share versus $0.68.
2026 initial guidance: loss of $1.26 to $1.54 per diluted share and Core FFO of $2.42 to $2.71 per diluted share; Same Store NOI growth of -2.5% to 1.5%.
FIS reported fourth-quarter and full-year 2025 results and gave 2026 guidance after closing its Total Issuing Solutions acquisition and selling its Worldpay stake on January 9, 2026. Full-year GAAP diluted EPS fell 49% to $0.73, including a $539 million non-cash deferred tax expense tied to the Worldpay sale, while adjusted EPS rose 10%. The company said it will temporarily pause share repurchases and tuck-in M&A to reduce debt.
Q4 2025 GAAP diluted EPS was $0.98, up from $0.56; adjusted EPS was $1.68, up 20%
Full-year 2025 revenue was $10.7 billion, up 5% on a GAAP basis
2026 outlook: revenue of $13,770 million to $13,850 million and adjusted EPS of $6.22 to $6.32
Quarterly dividend raised 10% to $0.44 per share; share repurchases paused until target leverage of 2.8x is reached
Westlake reported a fourth-quarter 2025 net loss of $544 million, or $4.22 per share, compared with net income of $7 million, or $0.06 per share, a year earlier. Excluding $511 million of identified items, mainly plant shutdown expenses, the loss was $33 million, or $0.25 per share, and EBITDA was $196 million versus $416 million a year earlier. Management said it expects 2026 earnings to improve, targeting $600 million of EBITDA benefit from its PEM profitability plan.
Q4 2025 net sales were $2.5 billion, down 11% year over year, with sales volume down 7% and average sales price down 4%.
Q4 2025 net loss was $544 million, or $4.22 per share; excluding identified items, the loss was $33 million, or $0.25 per share.
Full-year 2025 net loss was $1.5 billion, or $11.70 per share, including a $727 million goodwill write-off; excluding identified items, the loss was $116 million, or $0.90 per share.
Management targets $600 million of EBITDA improvement in 2026 from the PEM profitability plan, and cites the January 2026 acquisition of ACI.
AdaptHealth reported fourth-quarter 2025 net revenue of $846.3 million, down 1.2%, and a net loss attributable to the company of $102.8 million, compared with net income of $50.3 million a year earlier. The loss includes a non-cash goodwill impairment charge of $128.0 million, and Adjusted EBITDA fell 18.7% to $163.1 million. The company also issued 2026 guidance of $3.44 billion to $3.51 billion in net revenue and $680 million to $730 million in Adjusted EBITDA.
Q4 2025 net revenue was $846.3 million, down from $856.6 million; Adjusted EBITDA was $163.1 million, down from $200.6 million.
Q4 2025 net loss attributable to AdaptHealth was $102.8 million, including a $128.0 million non-cash goodwill impairment tied to the Diabetes Health unit.
Full-year 2025 net loss attributable to AdaptHealth was $70.8 million, versus net income of $90.4 million in 2024.
2026 guidance: net revenue of $3.44 billion to $3.51 billion, Adjusted EBITDA of $680 million to $730 million, and free cash flow of $175 million to $225 million.
DigitalOcean reported fourth-quarter and fiscal 2025 results on February 24, 2026, with Q4 revenue of $242 million, up 18% year-over-year. The company raised its 2026 growth outlook to 21% and now expects full-year 2026 revenue of $1.075 to $1.105 billion, which matters to shareholders because it signals faster expected growth than the company previously forecast. Fiscal 2025 net income of $259 million includes one-time benefits, and fourth-quarter operating cash flow fell to $57 million from $71 million a year earlier.
Q4 2025 revenue was $242 million, up 18% year-over-year, and net income attributable to common stockholders was $26 million, up 40%.
Full-year 2026 revenue outlook is $1.075 to $1.105 billion, with 21% growth expected; the company says it raised its outlook again after raising it last quarter.
Fiscal 2025 diluted EPS of $2.52 includes $0.66 from a one-time VA release and $0.30 from a one-time gain on partial extinguishment of 2026 Convertible Notes.
Q1 2026 revenue guidance is $249 to $250 million, and Q4 2025 operating cash flow was $57 million versus $71 million in Q4 2024.
On February 23, 2026, AMD issued Meta a performance-based warrant to buy up to 160 million AMD common shares at $0.01 per share, alongside an amended purchase agreement under which Meta committed to buy the initial 1 gigawatt equivalent of AMD Instinct GPUs. The warrant's shares vest in tranches tied to Meta's purchases, up to 6 gigawatts, and to AMD stock price thresholds that rise to $600 per share, so the full share count would only be issued if those conditions are met. AMD says it expects the partnership to drive multi-year revenue growth and be accretive to non-GAAP earnings per share, but the filing gives no revenue or earnings figures.
Warrant covers up to 160 million AMD common shares at an exercise price of $0.01 per share, issued February 23, 2026
First tranche vests on shipment of the initial 1 gigawatt; full vesting requires Meta purchases of 6 gigawatts, plus stock price thresholds up to $600 per share for the final tranche
Warrant exercisable until 5:00 p.m. Eastern time on February 23, 2031, by cash or cashless exercise at Meta's election
Shipments supporting the first gigawatt deployment are scheduled to begin in the second half of 2026
Atlantic Union Bankshares appointed Alexander D. Dodd, formerly a senior finance executive at TD Bank Group, as Executive Vice President and Chief Financial Officer effective April 13, 2026, succeeding Robert M. Gorman, who is retiring. Gorman will stay with the company through September 30, 2026 as an executive advisor and then serve as a non-employee consultant through September 30, 2027.
Alexander D. Dodd, 49, becomes CFO effective April 13, 2026, succeeding Robert M. Gorman
Dodd's employment agreement runs through December 31, 2027, with a base salary of $590,000 and a $500,000 sign-on cash bonus
Sign-on equity includes restricted stock with a market value of about $600,000 and performance stock units with a target value of about $300,000
Gorman remains employed through September 30, 2026, then serves as a consultant through September 30, 2027
Option Care Health reported fourth-quarter 2025 net revenue of $1,465.4 million, up 8.8%, and GAAP diluted EPS of $0.37, up 5.7%, while net income fell 2.7% to $58.5 million. For full-year 2025, net revenue rose 13.0% to $5,649.5 million and adjusted diluted EPS rose 8.9% to $1.72, though net income declined 2.0% to $207.6 million. The company also projected 2026 net revenue of $5.8 billion to $6.0 billion and adjusted diluted EPS of $1.82 to $1.92.
Q4 2025 net revenue $1,465.4 million, up 8.8%; net income $58.5 million, down 2.7%
Full-year 2025 adjusted diluted EPS $1.72, up 8.9%; GAAP diluted EPS $1.27, up 3.3%
2026 guidance: net revenue $5.8 billion to $6.0 billion; adjusted diluted EPS $1.82 to $1.92; adjusted EBITDA $480 million to $505 million
Repurchased $307 million of stock in 2025; conference call set for February 24, 2026 at 8:30 a.m. ET
Life Time reported fourth-quarter and full-year 2025 results on February 24, 2026. Revenue rose 12.3% to $745.1 million in the quarter and 14.3% to $2,995.3 million for the year, and net income for the year rose 139.2% to $373.7 million, which the company says was helped by one-time items. The board also approved a $500 million share repurchase program, and the company's 2026 net income guidance of $330 million to $336 million is below its 2025 actual.
Q4 2025 revenue $745.1 million, up 12.3%; diluted EPS $0.54 versus $0.17 a year earlier
Full-year 2025 net income $373.7 million, up 139.2%; includes items such as $41.3 million of employee retention credit proceeds and $12.6 million of income tax benefits from a CEO stock option exercise
2026 guidance: total revenue $3,300 million to $3,330 million and Adjusted EBITDA $910 million to $925 million, with net income of $330 million to $336 million, reiterated from the January 22, 2026 preliminary estimates
$500 million share repurchase program, which the 2026 guidance does not include
Elanco reported fourth-quarter 2025 revenue of $1,144 million, up 12%, and a reported net loss of $276 million, which included $202 million of asset impairment, restructuring and other special charges. For full year 2025, revenue rose 6% to $4,715 million, but the company posted a reported net loss of $232 million, compared with net income of $338 million in 2024; adjusted EPS rose to $0.94 from $0.91. The company also guided 2026 revenue to $4,950 million to $5,020 million and adjusted EPS to $1.00 to $1.06.
Q4 2025 revenue $1,144 million, up 12% reported and 9% organic constant currency; adjusted EPS $0.13 vs. $0.14 a year earlier
Full year 2025 reported EPS $(0.47) vs. $0.68 in 2024; adjusted EPS $0.94 vs. $0.91
2026 guidance: revenue $4,950 million to $5,020 million; adjusted EBITDA $955 million to $985 million; adjusted EPS $1.00 to $1.06
2026 innovation revenue target raised to $1.15 billion; net leverage ratio ended 2025 at 3.6x
Henry Schein reported fourth-quarter and full-year 2025 results that rose on both sales and per-share earnings, and it introduced 2026 guidance for non-GAAP diluted EPS of $5.23 to $5.37. The company said Fred Lowery will join as CEO next week, which matters to shareholders because it marks a leadership change alongside the new outlook.
Q4 2025 net sales were $3.4 billion, up 7.7%; GAAP diluted EPS was $0.85 versus $0.74, and non-GAAP diluted EPS was $1.34 versus $1.19.
Full-year 2025 net sales were $13.2 billion, up 4.0%; GAAP diluted EPS was $3.27 versus $3.05, and non-GAAP diluted EPS was $4.97 versus $4.74.
Full-year 2025 non-GAAP net income was $605 million, flat with 2024.
For 2026, non-GAAP diluted EPS is expected at $5.23 to $5.37 and total sales growth at 3% to 5%.
Armstrong World Industries reported record fourth-quarter and full-year 2025 results, with full-year net sales of $1.6 billion, up 12%, and diluted net earnings per share of $7.08, up 17.6%. The company issued 2026 guidance calling for net sales of $1,745 million to $1,785 million and adjusted diluted EPS of $8.05 to $8.35.
Q4 2025 net sales were $388 million, up 5.6%; diluted EPS was $1.51, up 6.3%
Full-year 2025 net sales were $1,620.8 million, up 12.1%; operating income rose 15.1% to $430.9 million
2026 guidance: adjusted diluted EPS of $8.05 to $8.35, up 9% to 13%, and adjusted free cash flow of $375 million to $395 million
Company repurchased $129 million of stock in 2025 and had $533 million remaining under its authorization as of December 31, 2025
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