Market Signal Briefing

NEW YORK, Feb. 18, 2026 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Plug Power Inc. (NASDAQ: PLUG).

Shareholders who purchased shares of PLUG during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.

CONTACT US HERE:

https://securitiesclasslaw.com/securities/plug-power-loss-submission-form/?id=183602&from=3 

CLASS PERIOD: January 17, 2025 to November 13, 2025

ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) defendants had materially overstated the likelihood that funds attributed to the loan through the U.S. Department of Energy’s Loan Program’s Office would ultimately become available to Plug Power, and/or that Plug Power would ultimately construct the hydrogen production facilities necessary to receive those funds; (ii) as such, Plug Power was likely to pivot toward more modest projects with less commercial upside; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.

DEADLINE: April 3, 2026 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/plug-power-loss-submission-form/?id=183602&from=3 

NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of PLUG during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is April 3, 2026. There is no cost or obligation to you to participate in this case.

WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: [email protected] 
Phone: (646) 453-8903

, /PRNewswire/ -- Robbins LLP reminds stockholders that a class action was filed on behalf of all investors who purchased or otherwise acquired Enphase Energy, Inc. (NASDAQ: ENPH) securities between April 22, 2025 and October 28, 2025. Enphase is a global energy technology company focusing on solutions for solar generation, storage, and communication.

For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.

The Allegations: Robbins LLP is Investigating Allegations that Enphase Energy, Inc. (ENPH) Misled Investors Regarding its Ability to Manage its Channel Inventory

According to the complaint, during the class period defendants failed to disclose that: (i) Enphase overstated its ability to manage its channel inventory; (ii) Enphase overstated its ability to mitigate effects arising from the termination of the 25D Credit (which allowed homeowners to deduct 30% of costs of clean energy property they install at their homes) on December 31, 2025 instead of December 21, 2032; and (iii) accordingly, Enphase overstated its financial and operational prospects.

Plaintiff alleges that on October 28, 2025, Enphase reported its financial results for the third quarter of 2025 and held a related earnings call. Among other items, Enphase's management reported that it expected 2025 to close on a weak note, with elevated channel inventory resulting in lower battery storage shipments in the fourth quarter, and that the expiration of the 25D Credit would negatively impact revenues for the first quarter of 2026. On this news, Enphase's stock price fell $5.56 per share, or 15.15%, to close at $31.14 per share on October 29, 2025.

What Now: You may be eligible to participate in the class action against Enphase Energy, Inc. Shareholders who wish to serve as lead plaintiff for the class should contact Robbins LLP. The lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. 

To be notified if a class action against Enphase Energy, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.

Attorney Advertising. Past results do not guarantee a similar outcome.

SOURCE Robbins LLP

Altria Group, Inc. (MO) Consumer Analyst Group of New York Conference 2026 February 18, 2026 1:00 PM EST

Company Participants

William Gifford - CEO & Director
Salvatore Mancuso - Executive VP, CFO & Director

Presentation

Unknown Analyst

Well, we're excited to welcome back the management team of Altria, long-time supporters of CAGNY. For decades, they've been leaders in the tobacco industry with iconic brands led by Marlboro. Today, they're leaders in moving beyond smoking. This includes exciting new products like on! PLUS and advocating for improved enforcement against illicit markets in the U.S., all while supporting strong cash returns to shareholders through the traditional businesses. We also note this is CEO, Billy Gifford's final CAGNY before he retires and transitions leadership to Sal Mancuso, who we're fortunate to have with us as well. That will happen in May. Billy, congratulations. Welcome and take it away.

William Gifford
CEO & Director

Thanks very much.

Good afternoon, and thank you for joining us. We're excited to be back at CAGNY once again this year. I'm joined on the stage by Sal Mancuso, our Chief Financial Officer; and following our presentation, Heather Newman, our Chief Strategy and Growth Officer; and Bob McCarter, our General Counsel, who also leads Regulatory Affairs, will join us for the breakout session next door. Before we begin, we ask that you carefully review the safe harbor statement in today's presentation and the forward-looking and cautionary statements section in today's press release.

These documents are available on altria.com, along with the reconciliations and further explanations of the non-GAAP financial measures we will discuss today. Future dividend payments and share repurchases remain subject to the discretion of our Board. And all references in today's remarks to nicotine consumers or consumers within a specific nicotine category or segment refer to existing adult nicotine consumers

TORONTO, Feb. 18, 2026 (GLOBE NEWSWIRE) -- Firan Technology Group Corporation (TSX: FTG) (OTCQX: FTGFF) today announced financial results for the full year and the fourth quarter 2025.

Full Year Financial Highlights:

Bookings: $209.9 million for 2025, marking a 14% increase over 2024.Backlog: $148.5 million at the end of 2025, a 21% rise from the previous year end inclusive of FLYHT acquisition.Revenue: $191.0 million, an 18% increase over 2024.Adjusted EBITDA: $32.7 million in 2025, up 27% from $25.8 million in 2024.Adjusted Net Earnings: $13.5 million in 2025, an increase of 31% from 2024.Operating Cash Flow Less Lease Payments: Generated operating cash flow less lease payments of $13.7 million in 2025.Net Debt: Maintained a strong balance sheet with net debt of $8.3 million, or 0.3X trailing 12 months EBITDA, including $11.2 million of government loans. Fourth Quarter Financial Highlights:

Revenue: $51.7 million, a 14.2% increase over Q4 2024.Gross Margin: Achieved 30.5%, up 220 basis points from 28.3% in Q4 2024.Adjusted EBITDA: Achieved $7.9 million in the quarter, up from $7.6 million in Q4 2024.Adjusted Net Earnings: Down by $0.2 million to $3.7 million, due to a $0.3 million increase in intangible amortization related to the FLYHT acquisition and $0.8 million unfavourable change in foreign exchange loss. Business Highlights:

In 2025, the Corporation continued to grow organically while integrating the FLYHT acquisition. FTG is strategically investing its capital in ways that will drive increased shareholder returns for the future in both the near term and long term. The company's achievements in 2025 demonstrate this commitment, laying a strong foundation for continued growth.

Growing FTG’s defence business: FTG Circuits recently qualified for two significant classified defence programs. Delivery is expected to start in 2026 and ramp up through 2027. FTG will also benefit from increasing demand on legacy defence programs.Diversifying and reducing exposure to U.S. tariff risks: In 2025, FTG ramped up deliveries in support of the C919, China’s first domestic single-aisle passenger jet, to keep pace with accelerating production schedules. During the year, De Haviland Aircraft of Canada Ltd. also selected FTG to provide updated cockpit control assemblies for the new De Havilland Canadair 515 (DHC-515) aerial firefighting aircraft. FTG completed its first deliveries on the De Havilland program in Q4 2025.Creating value from the FLYHT acquisition: Following the acquisition of FLYHT in early 2025, FTG obtained Supplemental Type Certificates (STCs) for AFIRS Edge+™ for the Boeing 737 family of aircraft in Canada, U.S. and China for and for the Airbus A320 family of aircraft in Canada, Europe and China. The transition of AFIRS Edge+™ to in-house production is now underway and FTG recently delivered its first AFIRS Edge+™ product to an airline in Asia, marking key milestones in value creation from the FLYHT acquisition.Strengthening the FTG team: FTG continues to bolster its leadership bench strength at all levels. During 2025, FTG appointed a new CFO, EVPs for both the Circuits and Aerospace segments as well as key site leaders due to retirement and organizational growth. Also during the year, FTG appointed Russell David, CPA, ICD.D and Christine Forget, ICD.D to the FTG Board of Directors. Russell has served as a board member and senior executive of corporations and as a senior partner at Deloitte in corporate finance and M&A advisory. Christine has served as a board member and senior executive of several corporations including as VP, Global Procurement at Bombardier. Table 1: Key Financial Metrics (Year-to-Date)

MetricFY 2025
  FY 2024
  % Change Sales$190,996,000  $162,096,000  17.8%Gross Margin$60,596,000  $44,176,000  37.2%Gross Margin (%)31.73% 27.25% 447bpsNet Earnings to FTG Equity Holders$13,077,000  $10,815,000  20.9%Adjusted Net Earnings(1)$13,470,000  $10,306,250  30.7%Earnings Per Share (Basic)$0.52  $0.45  15.6%Earnings Per Share (Diluted)$0.52  $0.45  15.6%Adjusted Earnings Per Share (Basic)(1)$0.54  $0.43  25.6%Adjusted Earnings Per Share (Diluted)(1)$0.53  $0.43  23.3% (1)Adjusted Net Earnings is not a measure recognized under International Financial Reporting Standards (“IFRS”). Management believes that this measure is important to many of the Corporation’s shareholders, creditors and other stakeholders. The Corporation’s method of calculating Adjusted Net Earnings may differ from other corporations and accordingly may not be comparable to measures used by other corporations.     Table 2: Key Financial Metrics (Quarterly)

MetricQ4 2025
  Q4 2024
  % Change Sales$51,656,000  $45,244,000  14.2%Gross Margin$15,796,000  $12,816,000  23.3%Gross Margin (%)30.58% 28.33% 225bpsNet Earnings to FTG Equity Holders$3,662,000  $4,448,000  -17.7%Adjusted Net Earnings(1)$3,689,000  $3,939,250  -6.4%Earnings Per Share (Basic)$0.15  $0.19  -21.1%Earnings Per Share (Diluted)$0.14  $0.18  -22.2%Adjusted Earnings Per Share (Basic)(1)$0.15  $0.16  -6.3%Adjusted Earnings Per Share (Diluted)(1)$0.14  $0.16  -12.5% (1)Adjusted Net Earnings is not a measure recognized under International Financial Reporting Standards (“IFRS”). Management believes that this measure is important to many of the Corporation’s shareholders, creditors and other stakeholders. The Corporation’s method of calculating Adjusted Net Earnings may differ from other corporations and accordingly may not be comparable to measures used by other corporations.     Table 3: EBITDA

MetricQ4 2025

  Q4 2024

  FY 2025

  FY 2024

  % Change (Q4)  % Change (FY) Net Earnings to Equity Holders$3,662,000  $4,448,000  $13,077,000  $10,815,000     Add: Interest, Accretion$628,000  $529,000  $2,738,000  $2,210,000     Add: Income Taxes$705,000  $836,000  $5,121,000  $4,093,000     Add: Depreciation and Amortization$2,760,000  $2,060,000  $10,559,000  $8,345,000     EBITDA(2)$7,755,000  $7,873,000  $31,495,000  $25,463,000  -1.50% 23.69%Adjustments           Stock Based Compensation$126,000  $106,000  $659,000  $739,000     Acquisition and Divestiture Expenses$0  $317,000  $107,000  $317,000     India Startup Costs$36,000  $110,000  $205,000  $110,000     Restructuring and Severance Costs$0  $0  $212,000  $0     Change in Fair Value of Contingent Consideration$0  ($829,000) $0  ($829,000)    Adjusted EBITDA(2)$7,917,000  $7,577,000  $32,678,000  $25,800,000  4.49% 26.66%Adjusted EBITDA Margin(2)15.3% 16.7%  17.1% 15.9%     (2)EBITDA and Adjusted EBITDA are not measures recognized under International Financial Reporting Standards (“IFRS”). Management believes that these measures are important to many of the Corporation’s shareholders, creditors and other stakeholders.The Corporation’s method of calculating EBITDA and Adjusted EBITDA may differ from other corporations and accordingly may not be comparable to measures used by other corporations.     CEO Commentary:

“2025 was a transformational year for FTG defined by exceptional operational progress and the achievement of several critical milestones across our long-term strategic programs.” stated Brad Bourne, President and CEO of FTG. “We achieved record performance across nearly all financial metrics. We have strategically bolstered both our leadership team and Board of Directors with high-caliber industry expertise to guide our next phase of growth. In 2025, multiple long-term development programs at FTG Aerospace entered production. FTG Circuits closed the year with awards of multiple significant defence programs while legacy defence programs continued to ramp up. We remain focused on delivering long-term value to shareholders as these strategic programs move into full-scale manufacturing.”

About Firan Technology Group Corporation:

FTG is an aerospace and defence electronics product and subsystem supplier to customers around the globe. FTG has two operating units:

FTG Circuits is a manufacturer of high technology, high reliability printed circuit boards. Our customers are leaders in the aviation and defence industries. FTG Circuits has operations in Toronto, Ontario, Chatsworth, California, Fredericksburg, Virginia, Minnetonka, Minnesota, Haverhill, Massachusetts and a joint venture in Tianjin, China.

FTG Aerospace designs, certifies, manufactures and provides in-service support for illuminated cockpit products, electronic assemblies and avionics products for original equipment manufacturers and operators of aerospace and defence equipment. FTG Aerospace has operations in Toronto, Ontario, Calgary, Alberta, Chatsworth, California and Tianjin, China.

The Corporation's shares are traded on the Toronto Stock Exchange under the symbol FTG, and on the OTCQX Exchange under the symbol FTGFF.

Conference Call Details:

FTG will host a live conference call on Thursday, February 19, 2026, at 8:30 a.m. (Eastern) to discuss the financial results. The call will be chaired by Mr. Brad Bourne, President and CEO of FTG. Participants can join the call by dialing 1-289-514-5100 or 1-800-717-1738 and using Conference ID 73581. A replay of the call will be available until March 19, 2026, and can be accessed by dialing 1-289-819-1325 or 1-888-660-6264, Playback Passcode 73581 #. The replay will also be available on the FTG website at www.ftgcorp.com.

Forward-Looking Statements:

This news release contains certain forward-looking statements. These forward-looking statements are related to, but not limited to, FTG’s operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains words such as “anticipate”, “believe”, “expect”, “plan” or similar words suggesting future outcomes. Such statements are based on the current expectations of management of the Corporation and inherently involve numerous risks and uncertainties, known and unknown, including economic factors and the Corporation’s industry, generally. The preceding list is not exhaustive of all possible factors. Such forward-looking statements are not guarantees of future performance and actual events and results could differ materially from those expressed or implied by forward-looking statements made by the Corporation. The reader is cautioned to consider these and other factors carefully when making decisions with respect to the Corporation and not place undue reliance on forward-looking statements. Other than as may be required by law, FTG disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

Additional information can be found at the Corporation’s website www.ftgcorp.com.

Transition to 10 MHz Broadband in 900 MHz Band Builds on Proven Success of Anterix-Enabled Private Wireless Broadband Deployments February 18, 2026 16:45 ET  | Source: Anterix Inc.

WOODLAND PARK, N.J., Feb. 18, 2026 (GLOBE NEWSWIRE) -- Anterix (NASDAQ: ATEX), the market leader in mission-critical private wireless broadband spectrum, is pleased to report that the Federal Communications Commission (FCC) has unanimously adopted a groundbreaking Report and Order (R&O), “Maximizing the Potential of the 900 MHz Band,” enabling broadband deployment across the full 10 megahertz of the 900 MHz band, unlocking opportunities for Anterix and its ecosystem of innovators.

The decision by the Commission is the culmination of a joint petition filed by Anterix, alongside a coalition of leading energy and technology organizations including Ameren, Enterprise Wireless Alliance, Evergy, Lower Colorado River Authority, Portland General Electric, San Diego Gas & Electric, Southern Company’s Southern Linc, Utility Broadband Alliance, and Xcel Energy, seeking authority to expand the 900 MHz broadband segment from 6 MHz to a robust 10 MHz 5x5 configuration.

According to the FCC’s press release, “The spectrum resources made available through today’s Commission action will stimulate the American economy by driving innovation by utilities, critical infrastructure, and other sectors.”

“Anterix applauds Chairman Carr, Commissioner Gomez, Commissioner Trusty, and the Commission staff for recognizing the value of modern private broadband communications and that high-quality, low-band spectrum is a finite resource,” said Anterix Chief Regulatory and Corporate Communications Officer Christopher Guttman-McCabe.

“By expanding this band to 10 MHz, the FCC has unlocked a super pipe for mission-critical communications across a range of sectors,” Guttman-McCabe continued. “As our ecosystem of innovators continues to grow, we believe this spectrum is rapidly becoming a gold standard for any entity that cannot afford to share its connectivity with the public or risk its operations on congested bands. Together with the products that Anterix has launched and will launch, as well as the innovation occurring across our ecosystem, the future of this band and the enterprises that adopt it is incredibly bright. The Commission’s vote is a sterling example of sound spectrum policy that is a win-win both for America, as well as for the innovators that will drive value through the evolution and deployment of this spectrum.”

“Enabling broadband across the full 10 MHz of this band expands our opportunity to bring modern connectivity for any device that requires reliable, private, and secure communications,” said Anterix President & CEO Scott Lang. “While this spectrum historically has been the bedrock for utilities, the expansion to 10 MHz signals a new era where 900 MHz is a foundational layer for all critical connectivity. The window of opportunity to secure this unique, high-penetration spectrum is narrowing as more industries recognize that it is the only viable path to true operational sovereignty at scale. I am grateful to the FCC for their efforts to maximize the 900 MHz band.”

More information is available in the FCC’s press release announcing the R&O.

Shareholder Contact 

Natasha Vecchiarelli
Vice President, Investor Relations & Corporate Communications
Anterix
973-531-4397
[email protected] 

Media Contact

Paul Gaige
Senior Vice President
Burson
504-957-1434
[email protected]

About Anterix

Anterix is transforming how critical infrastructure stays connected. As the market leader in mission-critical private wireless broadband spectrum, Anterix delivers more secure, private 900 MHz licensed spectrum and advanced intelligent infrastructure solutions that enhance efficiency, strengthen resilience, and accelerate digital transformation. Backed by a growing ecosystem of industry-leading partners, Anterix provides the connectivity foundation that powers a more resourceful and resilient future. Learn more at www.anterix.com.

Forward-Looking Statements

Certain statements contained in this press release may constitute forward-looking statements within the meaning of the federal securities laws that involve risks and uncertainties. Forward-looking statements include statements that may predict, forecast, indicate or imply future events or achievements such as statements in this press release related to Anterix’s business, plans and opportunities. Any such forward-looking statements are based on the current expectations of Anterix's management and are subject to a number of risks and uncertainties that could cause Anterix's actual future results to differ materially from those implied by the forward-looking statements. These risks and uncertainties include, but are not limited to: (i) Anterix may not be successful in commercializing its spectrum assets to its targeted utility and critical infrastructure customers on a timely basis and on favorable terms; (ii) Anterix may be unable to secure broadband licenses from the FCC on a timely and cost-effective basis; and (iii) the value of Anterix's spectrum assets may fluctuate significantly based on supply and demand, as well as technical and regulatory changes. These, and other risks and uncertainties are identified and described in more detail in Anterix's most recent filings on Forms 10-K and 10-Q and in other filings that it makes with the SEC from time to time. These documents are available on Anterix's website at www.anterix.com under the Investor Relations section and on the SEC's website at www.sec.gov. Accordingly, you should not rely upon forward-looking statements as predictions of future events. Except as required by applicable law, Anterix undertakes no obligation to update publicly or revise any forward-looking statements contained herein.

The financial and operational information contained in this press release is based on audited consolidated financial statements presented in U.S. dollars and prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standard Board and adopted by the European Union, or IFRS. Additionally, this press release includes non-IFRS alternative performance measures i.e., EBITDA, Free Cash Flow, Net cash / debt and Operating working capital days. See exhibit I for more details on these alternative performance measures.

LUXEMBOURG, Feb. 18, 2026 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) (“Tenaris”) today announced its results for the fourth quarter and year ended December 31, 2025 in comparison with its results for the fourth quarter and year ended December 31, 2024.

Summary of 2025 Fourth Quarter Results

(Comparison with third quarter of 2025 and fourth quarter of 2024)

 4Q 20253Q 20254Q 2024Net sales ($ million)2,9952,9781%2,8455%Operating income ($ million)554597(7%)558(1%)Net income ($ million)4614532%519(11%)Shareholders’ net income ($ million)4494461%516(13%)Earnings per ADS ($)0.870.852%0.94(7%)Earnings per share ($)0.440.432%0.47(7%)EBITDA* ($ million)717753(5%)726(1%)EBITDA margin (% of net sales)23.9%25.3% 25.5%  *EBITDA in the third quarter of 2025 includes a $34 million gain recorded for the return of U.S. antidumping deposits paid on OCTG imports from Argentina for which the duty rate had been revised downwards. If this gain was not included EBITDA would have amounted to $719 million, or 24.1% of sales.

In the fourth quarter, our sales to Rig Direct® customers in the United States and Canada continued to show resilience as did our Tubes sales in other regions, and, in Argentina we resumed our fracking and coiled tubing services. Our margins held up well, despite reflecting the full impact of the 50% Section 232 tariffs, as we brought our Koppel steel shop back on line following a transformer outage and we had an efficient industrial performance.

During the quarter, our free cash flow amounted to $665 million and, after spending $300 million on dividends and $537 million on share buybacks, our net cash position amounted to $3.3 billion at December 31, 2025.

Market Background and Outlook

Although oil and gas prices remain volatile amidst contrasting near-term oversupply and geopolitical concerns, oil and gas companies are looking at a resilient longer-term demand outlook and the need to replace production declines as they advance their investment plans. Drilling activity in the United States and Canada is expected to remain near current levels after the modest decline seen in the second half of 2025. In the rest of the world, we do not expect major changes compared to current activity levels in the near term.

In the United States, despite the increase in tariffs on imported steel products, OCTG prices are still around the same level as before the application of the tariffs. We expect that they will eventually respond to the tariffs on imports and the increases in raw material costs for domestic producers.

For the first quarter of 2026, we expect our sales and margins to remain close to current levels. 

Annual Dividend Proposal

Upon approval of the Company´s annual accounts, the board of directors intends to propose, for approval of the annual general shareholders’ meeting to be held on May 12, 2026, the payment of a dividend per share of $0.89 (in an aggregate amount of approximately $900 million), which would include the interim dividend per share of $0.29 (approximately $300 million) paid in November 2025. If the annual dividend is approved by the shareholders, a dividend of $0.60 per share ($1.20 per ADS), or approximately $600 million, will be paid according to the following timetable:

Payment date: May 20, 2026Record date: May 19, 2026Ex-dividend for securities listed in Europe and Mexico: May 18, 2026Ex-dividend for securities listed in the United States: May 19, 2026 Analysis of 2025 Fourth Quarter Results

Tubes

The following table indicates, for our Tubes business segment, sales volumes of seamless and welded pipes for the periods indicated below:

Tubes Sales volume (thousand metric tons)4Q 20253Q 2025
4Q 2024
Seamless776780(1%)7484%Welded193199(3%)16417%Total969979(1%)9136%
The following table indicates, for our Tubes business segment, net sales by geographic region, operating income and operating income as a percentage of net sales for the periods indicated below:

Tubes4Q 20253Q 2025
4Q 2024
(Net sales - $ million)     North America1,4551,4500%1,13129%South America501520(4%)595(16%)Europe187189(1%)341(45%)Asia Pacific, Middle East and Africa697716(3%)62911%Total net sales ($ million)2,8392,875(1%)2,6955%Services performed on third party tubes ($ million)107109(2%)9315%Operating income ($ million)516592(13%)533(3%)Operating margin (% of sales)18.2%20.6% 19.8% 
Net sales of tubular products and services decreased 1% sequentially and increased 5% year on year. Sequentially the decline in sales is due to the 1% decline in volumes while average selling prices remained flat. In North America we had higher sales of OCTG in the United States offset by lower sales of line pipe in the United States and Mexico. In South America we had lower sales of line pipe in Argentina following completion of deliveries to the Vaca Muerta Sur pipeline in the third quarter.  In Europe we had slightly higher sales of mechanical and hydrocarbon process industry products (HPI) and slightly lower sales of OCTG and offshore line pipe. In Asia Pacific, Middle East and Africa we had lower OCTG sales in sub-Saharan Africa, Kuwait and UAE, partially compensated by a recovery in sales in Saudi Arabia.

Operating results from tubular products and services amounted to a gain of $516 million in the fourth quarter of 2025 compared to a gain of $592 million in the previous quarter and a gain of $533 million in the fourth quarter of 2024. In the third quarter of 2025 Tubes operating income included a $34 million gain reflecting the return of U.S. antidumping deposits paid on OCTG imports from Argentina for which the duty rate had been revised downwards. The sequential reduction in operating income is mainly due to the full impact of tariff costs in the United States, partially offset by a better industrial performance.

Others

The following table indicates, for our Others business segment, net sales, operating income and operating income as a percentage of net sales for the periods indicated below:

Others4Q 20253Q 20254Q 2024Net sales ($ million)15610351%1504%Operating income ($ million)385713%2549%Operating margin (% of sales)24.2%4.5% 16.8% 
Net sales of other products and services increased 51% sequentially and increased 4% year on year. Sequentially, sales and operating income increased mainly due to the resumption of sales of oil and gas fracking and coiled tubing services in Argentina.

Selling, general and administrative expenses, or SG&A, amounted to $453 million, or 15.1% of net sales, in the fourth quarter of 2025, compared to $435 million, 14.6% in the previous quarter and $446 million, 15.7% in the fourth quarter of 2024. The sequential increase is mainly due to higher provisions for contingencies, partially offset by a decrease in selling expenses, taxes and labor costs.

Other operating results amounted to a loss of $8 million in the fourth quarter of 2025, compared to $415 thousand in the previous quarter and a $81 million gain in the fourth quarter of 2024. The fourth quarter of 2024 included a $67 million gain from the partial reversal of a provision related to the acquisition of a participation in Usiminas.

Financial results amounted to a gain of $29 million in the fourth quarter of 2025, compared to a gain of $37 million in the previous quarter and a gain of $48 million in the fourth quarter of 2024. Financial result of the quarter is mainly attributable to a $38 million net finance income from the return of our portfolio investments partially offset by foreign exchange and derivatives results.

Equity in earnings (losses) of non-consolidated companies generated a gain of $20 million in the fourth quarter of 2025, compared to a loss of $9 million in the previous quarter and a gain of $35 million in the fourth quarter of 2024. These results are mainly derived from our participation in Ternium (NYSE:TX) and in the fourth quarter of 2024 it included a $43 million gain from the reversal of a provision related to the acquisition of a participation in Usiminas.

Income tax charge amounted to $142 million in the fourth quarter of 2025, compared to $172 million in the previous quarter and $123 million in the fourth quarter of 2024. Income tax of the quarter declined mainly due to the positive effect from foreign exchange rate movements and inflation adjustment.

Cash Flow and Liquidity of 2025 Fourth Quarter

Net cash generated by operating activities during the fourth quarter of 2025 was $787 million, compared to $318 million in the previous quarter and $492 million in the fourth quarter of 2024. During the fourth quarter of 2025 cash generated by operating activities includes a net working capital reduction of $110 million.

With capital expenditures of $123 million, our free cash flow amounted to $665 million during the quarter. Following dividend payments of $300 million and share buybacks of $537 million in the quarter, our net cash position amounted to $3.3 billion at December 31, 2025.

Analysis of 2025 Annual Results

 12M 202512M 2024Increase/(Decrease)Net sales ($ million)11,98112,524(4%)Operating income ($ million)2,2832,419(6%)Net income ($ million)1,9732,077(5%)Shareholders’ net income ($ million)1,9332,036(5%)Earnings per ADS ($)3.663.611%Earnings per share ($)1.831.811%EBITDA* ($ million)2,8993,052(5%)EBITDA margin (% of net sales)24.2%24.4%  *EBITDA in 2025 includes a $34 million gain from the return of U.S. antidumping deposits paid on OCTG imports from Argentina for which the duty rate had been revised downwards and in 2024 included a $107 million loss from the provision for the ongoing litigation related to the acquisition of a participation in Usiminas.

Our results in 2025 showed the resilience of our operations in the face of lower drilling activity in key markets including the United States, Canada, Mexico and Saudi Arabia. In particular, our sales in North America were supported by the ongoing consolidation in the oil and gas sector and the value that our US and Canadian customers attribute to our Rig Direct® service model, which more than compensated for the decline in activity in Mexico. Our margins were also resilient as we responded to the challenge of the tariffs imposed on our imports of steel bars and pipes into the United States, and we maintained our earnings per share with the benefit of our buyback program.

Cash flow provided by operating activities amounted to $2.6 billion during 2025, including a reduction in working capital of $48 million. After capital expenditures of $617 million, our free cash flow amounted to $2.0 billion. Following a dividend payments of $900 million and share buybacks for $1,362 million in the year, our net cash position amounted to $3.3 billion at the end of December 2025.

The following table shows our net sales by business segment for the periods indicated below:

Net sales ($ million)12M 202512M 2024Increase/(Decrease)Tubes11,40095%11,90795%(4%)Others5815%6175%(6%)Total11,981 12,524 (4%)
Tubes

The following table indicates, for our Tubes business segment, sales volumes of seamless and welded pipes for the periods indicated below:

Tubes Sales volume (thousand metric tons)12M 202512M 2024Increase/(Decrease)Seamless3,1353,0772%Welded782852(8%)Total3,9173,9280%
The following table indicates, for our Tubes business segment, net sales by geographic region, operating income and operating income as a percentage of net sales for the periods indicated below:

Tubes12M 202512M 2024Increase/(Decrease)(Net sales - $ million)   North America5,5525,4322%South America2,1042,294(8%)Europe7991,143(30%)Asia Pacific, Middle East and Africa2,9463,038(3%)Total net sales ($ million)11,40011,907(4%)Services performed on third parties tubes ($ million)427484(12%)Operating income ($ million)2,1762,305(6%)Operating margin (% of sales)19.1%19.4% 
Net sales of tubular products and services decreased 4% to $11,400 million in 2025, compared to $11,907 million in 2024 due to a decrease in average selling prices. In North America we had higher sales in the United States and Canada reflecting the consolidation of our market positioning partially offset by lower sales of OCTG in Mexico reflecting the downturn in drilling activity. In South America sales declined due to lower prices and lower pipeline shipments in Argentina and lower sales in Venezuela partially offset by higher sales of offshore risers, flowlines and coating in Brazil. In Europe we had lower sales of offshore line pipe and OCTG in Turkey. In Asia Pacific, Middle East and Africa we had lower OCTG sales in Saudi Arabia and China, largely offset by higher OCTG sales in Kuwait and UAE, higher sales of line pipe for downstream processing projects and for offshore pipelines in sub-Saharan Africa.

Operating results from tubular products and services amounted to a gain of $2,176 million in 2025 compared to a gain of $2,305 million in 2024. Tubes operating income in 2025 includes a $34 million gain from the return of U.S. antidumping deposits paid on OCTG imports from Argentina for which the duty rate had been revised downwards and in 2024 included a $107 million loss from the provision for the ongoing litigation related to the acquisition of a participation in Usiminas. Excluding these one off events the decline in Tubes operating income is mainly due to the reduction in average selling prices and the cost of Section 232 tariffs.

Others

The following table indicates, for our Others business segment, net sales, operating income and operating income as a percentage of net sales for the periods indicated below:

Others12M 202512M 2024Increase/(Decrease)Net sales ($ million)581617(6%)Operating income ($ million)107113(6%)Operating margin (% of sales)18.4%18.4% 
Net sales of other products and services decreased 6% to $581 million in 2025, compared to $617 million in 2024. We had lower sales of sucker rods due to a reduction in drilling activity in mature field in Argentina and lower sales of scrap and excess energy to third parties.

Operating results from other products and services amounted to a gain of $107 million in 2025, compared to a gain of $113 million in 2024. These results are mainly attributable to our oilfied services business in Argentina, our sucker rods and our coiled tubing businesses.

Selling, general and administrative expenses, or SG&A, amounted to $1,828 million in 2025, representing 15.3% of sales, and $1,905 million in 2024, representing 15.2% of sales. SG&A decreased due to a reduction in labor costs, taxes and other expenses partially offset by an increase in selling expenses and in the allowance for doubtful accounts.

Other operating results amounted to a loss of $9 million in 2025, compared to a loss of $65 million in 2024. In 2024 we recorded a $107 million loss from provision for the ongoing litigation related to the acquisition of a participation in Usiminas.

Financial results amounted to a gain of $133 million in 2025, compared to a gain of $129 million in 2024. Financial result of the year is mainly attributable to a $205 million net finance income from the return of our portfolio investments partially offset by foreign exchange, derivatives results and others.

Equity in (losses) earnings of non-consolidated companies generated a gain of $58 million in 2025, compared to a gain of $9 million in 2024. These results were mainly derived from our equity investments in Ternium (NYSE:TX), Usiminas and Techgen.

Income tax amounted to a charge of $501 million in 2025, compared to $480 million in 2024.

Cash Flow and Liquidity of 2025

Net cash provided by operating activities in 2025 amounted to $2.6 billion (including a reduction in working capital of $48 million), compared to cash provided by operations of $2.9 billion (net of a reduction in working capital of $287 million) in 2024.

Capital expenditures amounted to $617 million in 2025, compared to $694 million in 2024. Free cash flow amounted to $2.0 billion in 2025, compared to $2.2 billion in 2024.

Following dividend payments of $900 million in 2025 and share buybacks of $1,362 million during 2025, our net cash position amounted to $3.3 billion at the end of December 2025.

Conference call

Tenaris will hold a conference call to discuss the above reported results, on February 19, 2026, at 07:30 a.m. (Eastern Time). Following a brief summary, the conference call will be opened to questions.

To listen to the conference please join through one of the following options:
ir.tenaris.com/events-and-presentations or
https://edge.media-server.com/mmc/p/hc4civgv

If you wish to participate in the Q&A session please register at the following link:
https://register-conf.media-server.com/register/BIc548fd34c7d449aba67b1bda3d6e0bc3

Please connect 10 minutes before the scheduled start time.

A replay of the conference call will also be available on our webpage at: ir.tenaris.com/events-and-presentations

Consolidated Income Statement

(all amounts in thousands of U.S. dollars)Three-month period ended
December 31,Twelve-month period ended
December 31, 2025202420252024     Net sales2,995,1332,845,22611,981,15712,523,934Cost of sales(1,980,125)(1,922,263)(7,860,744)(8,135,489)Gross profit1,015,008922,9634,120,4134,388,445Selling, general and administrative expenses(452,829)(445,988)(1,828,496)(1,904,828)Other operating income45818,48323,78960,650Other operating expenses(8,699)62,919(32,490)(125,418)Operating income553,938558,3772,283,2162,418,849Finance income53,94451,331252,238242,319Finance cost(15,840)(8,928)(46,933)(61,212)Other financial results, net(9,052)5,777(72,664)(52,051)Income before equity in earnings of non-consolidated companies and income tax582,990606,5572,415,8572,547,905Equity in earnings of non-consolidated companies20,30735,28358,0388,548Income before income tax603,297641,8402,473,8952,556,453Income tax(142,234)(122,709)(500,616)(479,680)Income for the period461,063519,1311,973,2792,076,773     Attributable to:    Shareholders' equity448,865516,2131,932,8132,036,445Non-controlling interests12,1982,91840,46640,328 461,063519,1311,973,2792,076,773 Consolidated Statement of Financial Position

(all amounts in thousands of U.S. dollars)At December 31, 2025 At December 31, 2024     ASSETS      Non-current assets     Property, plant and equipment, net6,205,082  6,121,471 Intangible assets, net1,357,116  1,357,749 Right-of-use assets, net144,557  148,868 Investments in non-consolidated companies1,561,212  1,543,657 Other investments758,085  1,005,300 Deferred tax assets834,168  831,298 Receivables, net139,21110,999,431 205,60211,213,945Current assets     Inventories, net3,602,058  3,709,942 Receivables and prepayments, net268,798  179,614 Current tax assets364,640  332,621 Contract assets35,264  50,757 Trade receivables, net1,920,840  1,907,507 Derivative financial instruments1,875  7,484 Other investments2,306,760  2,372,999 Cash and cash equivalents572,6479,072,882 675,2569,236,180Total assets 20,072,313   20,450,125 EQUITY      Shareholders' equity 16,599,191  16,593,257Non-controlling interests 229,877  220,578Total equity 16,829,068   16,813,835 LIABILITIES      Non-current liabilities     Borrowings368  11,399 Lease liabilities94,903  100,436 Derivative financial instruments207   -  Deferred tax liabilities442,248  503,941 Other liabilities310,707  301,751 Provisions48,418                896,851 82,106                999,633Current liabilities     Borrowings305,354  425,999 Lease liabilities48,346  44,490 Derivative financial instruments14,123  8,300 Current tax liabilities386,586  366,292 Other liabilities377,088  585,775 Provisions173,152  119,344 Customer advances168,832  206,196 Trade payables872,9132,346,394 880,2612,636,657Total liabilities 3,243,245   3,636,290 Total equity and liabilities 20,072,313   20,450,125 Consolidated Statement of Cash Flows

 Three-month period
ended
December 31,Twelve-month period ended
December 31,(all amounts in thousands of U.S. dollars)2025202420252024     Cash flows from operating activities    Income for the period461,063519,1311,973,2792,076,773Adjustments for:    Depreciation and amortization162,921167,781616,170632,854Bargain purchase gain---(2,211)Income tax accruals less payments32,593(160)(31,221)(222,510)Equity in earnings of non-consolidated companies(20,307)(35,283)(58,038)(8,548)Interest accruals less payments, net7,4057,246(3,904)(1,067)Provision for the ongoing litigation related to the acquisition of participation in Usiminas145(87,975)25,57989,371Changes in provisions15,545(19,808)(5,380)(25,155)Changes in working capital109,878(36,604)47,772286,917Others, including net foreign exchange differences17,935(22,100)35,32339,794Net cash provided by operating activities787,178492,2282,599,5802,866,218     Cash flows from investing activities    Capital expenditures(122,507)(181,870)(617,183)(693,956)Changes in advance to suppliers of property, plant and equipment7,0715,0926,155(10,391)Cash decrease due to deconsolidation of subsidiaries--(1,848)-Acquisition of subsidiaries, net of cash acquired(17,666)-(17,666)31,446Loan to joint ventures-(1,414)(1,359)(5,551)Proceeds from disposal of property, plant and equipment and intangible assets2599,64658,37928,963Dividends received from non-consolidated companies20,67420,67462,02273,810Changes in investments in securities235,987458,407318,897(821,478)Net cash provided by (used in) investing activities123,818310,535(192,603)(1,397,157)     Cash flows from financing activities    Dividends paid(300,044)(299,230)(900,361)(757,786)Dividends paid to non-controlling interest in subsidiaries(856)-(31,120)(5,862)Changes in non-controlling interests-28-1,143Acquisition of treasury shares(536,924)(454,462)(1,362,319)(1,439,589)Payments of lease liabilities(20,256)(17,248)(66,918)(68,574)Proceeds from borrowings83,030344,222655,4711,870,666Repayments of borrowings(105,486)(382,656)(772,585)(1,999,427)Net cash used in financing activities(880,536)(809,346)(2,477,832)(2,399,429)     Increase (decrease) in cash and cash equivalents30,460(6,583)(70,855)(930,368)     Movement in cash and cash equivalents    At the beginning of the period546,961681,306660,7981,616,597Effect of exchange rate changes(4,977)(13,925)(17,499)(25,431)Increase (decrease) in cash and cash equivalents30,460(6,583)(70,855)(930,368)At December 31,572,444660,798572,444660,798 Exhibit I – Alternative performance measures 

Alternative performance measures should be considered in addition to, not as substitute for or superior to, other measures of financial performance prepared in accordance with IFRS.

EBITDA, Earnings before interest, tax, depreciation and amortization.

EBITDA provides an analysis of the operating results excluding depreciation and amortization and impairments, as they are recurring non-cash variables which can vary substantially from company to company depending on accounting policies and the accounting value of the assets. EBITDA is an approximation to pre-tax operating cash flow and reflects cash generation before working capital variation. EBITDA is widely used by investors when evaluating businesses (multiples valuation), as well as by rating agencies and creditors to evaluate the level of debt, comparing EBITDA with net debt.

EBITDA is calculated in the following manner:

EBITDA = Net income for the period + Income tax charges +/- Equity in Earnings (losses) of non-consolidated companies +/- Financial results + Depreciation and amortization +/- Impairment charges/(reversals).

EBITDA is a non-IFRS alternative performance measure.

(all amounts in thousands of U.S. dollars)Three-month period ended December 31,Twelve-month period ended December 31, 2025202420252024Income for the period461,063519,1311,973,2792,076,773Income tax charge142,234122,709500,616479,680Equity in earnings of non-consolidated companies(20,307)(35,283)(58,038)(8,548)Financial results(29,052)(48,180)(132,641)(129,056)Depreciation and amortization162,921167,781616,170632,854EBITDA716,859726,1582,899,3863,051,703 Free Cash Flow

Free cash flow is a measure of financial performance, calculated as operating cash flow less capital expenditures. FCF represents the cash that a company is able to generate after spending the money required to maintain or expand its asset base.

Free cash flow is calculated in the following manner:

Free cash flow = Net cash (used in) provided by operating activities - Capital expenditures.

Free cash flow is a non-IFRS alternative performance measure.

(all amounts in thousands of U.S. dollars)Three-month period ended December 31,
Twelve-month period ended December 31,
 2025202420252024Net cash provided by operating activities787,178492,2282,599,5802,866,218Capital expenditures(122,507)(181,870)(617,183)(693,956)Free cash flow664,671310,3581,982,3972,172,262 Net Cash / (Debt)

This is the net balance of cash and cash equivalents, other current investments and fixed income investments held to maturity less total borrowings. It provides a summary of the financial solvency and liquidity of the company. Net cash / (debt) is widely used by investors and rating agencies and creditors to assess the company’s leverage, financial strength, flexibility and risks.

Net cash/ debt is calculated in the following manner:

Net cash = Cash and cash equivalents + Other investments (Current and Non-Current)+/- Derivatives hedging borrowings and investments - Borrowings (Current and Non-Current).

Net cash/debt is a non-IFRS alternative performance measure.

(all amounts in thousands of U.S. dollars)At December 31, 20252024Cash and cash equivalents572,647675,256Other current investments2,306,7602,372,999Non-current investments750,957998,251Derivatives hedging borrowings and investments(2,669)-Current borrowings(305,354)(425,999)Non-current borrowings(368)(11,399)Net cash / (debt)3,321,9733,609,108
Operating working capital days

Operating working capital is the difference between the main operating components of current assets and current liabilities. Operating working capital is a measure of a company’s operational efficiency, and short-term financial health.

Operating working capital days is calculated in the following manner:

Operating working capital days = [(Inventories + Trade receivables – Trade payables – Customer advances) / Annualized quarterly sales ] x 365.

Operating working capital days is a non-IFRS alternative performance measure.

(all amounts in thousands of U.S. dollars)Three-month period ended December 31, 20252024Inventories3,602,0583,709,942Trade receivables1,920,8401,907,507Customer advances(168,832)(206,196)Trade payables(872,913)(880,261)Operating working capital4,481,1534,530,992Annualized quarterly sales11,980,53211,380,904Operating working capital137145 Giovanni Sardagna
Tenaris
1-888-300-5432
www.tenaris.com

Bragar Eagel & Squire, P.C. Litigation Partner Brandon Walker Encourages Investors Who Suffered Losses In Masonite (DOOR) To Contact Him Directly To Discuss Their Options

If you sold Masonite International Corporation common stock between June 5, 2023 and February 8, 2024  and would like to discuss your legal rights, call Bragar Eagel & Squire partner Brandon Walker or Melissa Fortunato directly at (212) 355-4648.

Click here to participate in the action.

NEW YORK, Feb. 18, 2026 (GLOBE NEWSWIRE) --

What’s Happening:

Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Masonite International Corporation (“Masonite” or the “Company”) (NYSE:DOOR) in the United States District Court for the Southern District of New York on behalf of all persons and entities who sold Masonite International Corporation common stock between June 5, 2023 and February 8, 2024, both dates inclusive (the “Class Period”). Investors have until April 7, 2026 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
Allegation Details:

The Masonite class action lawsuit alleges that at the time that Masonite was repurchasing Masonite stock throughout the Class Period, defendants knew that Masonite had received multiple formal acquisition offers from Owens Corning to purchase all outstanding shares of Masonite common stock at prices significantly above the then-current market prices of Masonite common stock, and therefore significantly above the prices at which Masonite was repurchasing Masonite common stock from unsuspecting class members. Thus, Masonite had an obligation to disclose that it had received these formal acquisition offers from Owens Corning or abstain from purchasing Masonite stock from unsuspecting investors, according to the Masonite shareholder class action lawsuit.
Next Steps:

If you purchased or otherwise acquired Masonite shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at [email protected], telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, South Carolina, and California. The firm represents individual and institutional investors in securities,
derivative, and commercial litigation as well as individuals in consumer protection and data privacy litigation. The firm has a nationwide practice and routinely handles cases in both federal and state courts. For more information about the firm, please visit www.bespc.com.  Attorney advertising.  Prior results do not guarantee similar outcomes.
Follow us for updates on LinkedIn and Facebook, and keep up with other news by following Brandon Walker, Esq. on LinkedIn.

Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
[email protected]
www.bespc.com

Ceragon Networks: Upgrading On Improved Outlook And Discounted Valuation

Toll Brothers, Inc. (TOL) Q1 2026 Earnings Call Transcript

In this photo illustration the App of Etsy is displayed on a smartphone on December 10, 2025 in Berlin, Germany. (Photo Illustration by Thomas Trutschel/Photothek via Getty Images)

Photothek via Getty Images

Etsy (ETSY) – a platform that connects artisans with buyers globally – experienced a 6-day decline, with total losses during this timeframe reaching 23%. As of February 17, the company’s market capitalization has fallen by approximately $1.3 billion over that six-day stretch and now stands at roughly $4.4 billion.

The recent selloff comes amid mounting concerns about slowing gross merchandise sales, competitive pressure from larger platforms, and a more cautious consumer environment. While Etsy built its brand around uniqueness and personalization, investors are now questioning whether that differentiation is enough in a world increasingly dominated by scale-driven e-commerce giants.

The stock is down 20% year to date, sharply underperforming the flat return of the S&P 500. The pullback warrants a fresh look at valuation to determine whether the weakness presents a compelling entry point or signals deeper structural challenges.

What Caused The Decline?[1] Goldman Sachs Downgrade to ‘Sell’Price target substantially lowered to $45 from $70Concerns regarding limited visibility on gross merchandise sales growth and possible ongoing market share lossesImpact: The stock dropped over 4% in pre-market trading after the announcement, resulting in heightened bearish sentiment among investors[2] Anticipation of Poor Earnings ReportPredicted year-over-year decrease in earnings per shareAnalysts have collectively adjusted their initial estimates downward over the last 30 daysImpact: Increased investor caution ahead of the earnings release, with analysts showing negative sentiment about the company’s earnings outlookMORE FOR YOU

Chance or Pitfall?Below is our perspective on valuation.

There are several concerns regarding ETSY stock considering its overall Weak operational performance and financial health. This corresponds with the stock’s Low valuation, leading us to believe it is Fairly Priced (For more details, see Buy or Sell ETSY).

However, here is the truly intriguing aspect.

You are learning about this -23% move after it has occurred. The market has already accounted for the news. To sidestep the next underperformer before it hits the headlines, you require predictive indicators, rather than alerts. Our High Quality Portfolio features a risk model aimed at minimizing exposure to losing stocks.

Returns Compared To S&P 500The table below details the return of ETSY stock relative to the S&P 500 index across various periods, including the present decline:

returns

Trefis

Examine what history indicates regarding whether previous downturns like this have been advantageous buying opportunities or pitfalls: ETSY Dip Buyer Analysis.

Streaks of Gains and Losses: S&P 500 ComponentsCurrently, there are 44 S&P components that have shown 3 or more days of consecutive gains and 40 components that have shown 3 or more days of consecutive losses.

Gains and Losses

Trefis

Key Financials for Etsy (ETSY)Last 2 Fiscal Years:Metrics

Trefis

Last 2 Fiscal Quarters:Additional metrics

Trefis

The ongoing losing streak for ETSY stock does not boost investor confidence. Conversely, the Trefis High Quality (HQ) Portfolio, which consists of 30 stocks, has a history of consistently outperforming its benchmarks, which include all three — the S&P 500, S&P mid-cap, and Russell 2000 indices. What accounts for this? Overall, HQ Portfolio stocks yield superior returns with less risk compared to the benchmark index; a smoother experience, as shown in HQ Portfolio performance metrics.

Sandisk Corporation has announced plans for a secondary public offering. 

The data storage company will open up 5,821,135 common stock shares (Nasdaq:SNDK) at $545 a pop. The shares are currently owned by Western Digital Corporation (WDC), Sandisk’s former parent company.

Sandisk separated from WDC nearly a year ago to the date, and subsequently joined the S&P 500 in November. 

Now, WDC is furthering that split. It will be left with 1,691,884 shares of common stock, but it plans to get rid of those as well.

Subscribe to the Daily newsletter.Fast Company's trending stories delivered to you every day

WDC intends to complete a debt-for-equity exchange with J.P. Morgan Securities LLC and BofA Securities—both of which will act as selling stockholders.

Sandisk says it will not personally sell any of its shares or profit from the secondary offering. 

The offering should close tomorrow, Thursday, February 19. 

Explore Topicsdata storagemarketsstocks

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Schneider National, Inc. (SNDR) Citi's Global Industrial Tech & Mobility Conference 2026 February 18, 2026 1:50 PM EST

Company Participants

Darrell Campbell - Executive VP & CFO
Mark Rourke - CEO, President & Director

Presentation

Unknown Analyst

[Audio Gap]

Obviously, prominent trucking company, but a number of other areas of business as well that we'll be digging into. And we have Mark Rourke, CEO; and Darrell Campbell, relatively new CFO. Darrell, how long have you been?

Darrell Campbell
Executive VP & CFO

2.5 years.

Unknown Analyst

Okay. All right.

Darrell Campbell
Executive VP & CFO

I can't use the new card anymore.

Unknown Analyst

Yes. Okay. Fair enough. It's like fair. I guess, yes, we've bounced around a couple of...

Mark Rourke
CEO, President & Director

[indiscernible] like dog years.

Unknown Analyst

Yes. Exactly. That's -- and it's been a tough market. So you may be experiencing the upswing there.

Question-and-Answer Session

Unknown Analyst

So there have been a lot of interesting signals in the market. I think a lot of folks in the room are going to care about what are you seeing in the broader market, right? We've seen some strength of better than normal seasonality, I think, in first quarter some of that related to storms, but speak about those dynamics and what you're seeing in the marketplace from a supply-demand standpoint.

Mark Rourke
CEO, President & Director

Yes. Actually, a lot is going on for sure, right? And we've been talking about the capacity levels for several quarters and some of what we were calling shadow capacity. And then when you see some enforcement activity going on to get after some of those issues, which we can talk about, and you couple that with a little bit of demand. I think it really demonstrated that the supply-demand equilibrium is maybe a little closer than people were

Leidos Holdings, Inc. (LDOS) Presents at Citi's Global Industrial Tech & Mobility Conference 2026 Transcript

NEW YORK, Feb. 18, 2026 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Smart Digital Group Ltd. (NASDAQ: SDM) between May 5, 2025 and September 26, 2025 at 9:34 AM EST, both dates inclusive (the “Class Period”), of the important March 16, 2026 lead plaintiff deadline.

SO WHAT: If you purchased SDM securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the SDM class action, go to https://rosenlegal.com/submit-form/?case_id=50638 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 16, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: Smart Digital describes itself as a company that provides digital marketing services. According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Smart Digital was the subject of a market manipulation and fraudulent promotion scheme involving social-media based misinformation and impersonators posing as financial professionals; (2) insiders and/or affiliates used and/or intended to use offshore or nominee accounts to facilitate the coordinated dumping of shares during a price inflation campaign; (3) Smart Digital’s public statements and risk disclosures omitted any mention of realized risk of fraudulent trading or market manipulation used to drive Smart Digital’s stock price; (4) as a result, Smart Digital securities were at unique risk of a sustained suspension in trading by either or both of the SEC and NASDAQ; and (5) as a result of the foregoing, defendants’ positive statements about Smart Digital’s business, operations and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the SDM class action, go to https://rosenlegal.com/submit-form/?case_id=50638 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
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Coach CEO Todd Kahn discusses the company's brand strategy and says there hasn't been any issue with leather suppliers on "Bloomberg Open Interest." -------- More on Bloomberg Television and Markets Like this video?

Definitive Agreement with Mezzofy Positions VCIG to Capture Recurring Transaction Revenue, Secondary Liquidity Value and Scalable Digital Commerce Infrastructure Opportunities Definitive Agreement with Mezzofy Positions VCIG to Capture Recurring Transaction Revenue, Secondary Liquidity Value and Scalable Digital Commerce Infrastructure Opportunities

NEW YORK, Feb. 18, 2026 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, has provided a $115,000,000 Freddie Mac loan to refinance Courtlands on the Park, a 918-unit multifamily apartment community located in Des Plaines, Illinois. The financing was originated by Greystone’s Eric Rosenstock, Senior Managing Director, on behalf of CLK Properties, a repeat client.

Built in 1973, Courtlands on the Park in Cook County is a garden style apartment community consisting of 153 buildings with 913 one- and two-bedroom units that have been recently renovated with modern appliances and finishes. Property residents enjoy access to amenities such as a playground, dog park, grilling stations and on-site parking. The $115,000,000 non-recourse, fixed-rate Freddie Mac loan, which features a 5-year term and 30-year amortization along with three years of interest only payments, refinances the bridge financing used to acquire the property in 2019, and enables the borrower to use a portion of the equity in the property.

“We are thrilled that we were able to provide our client with a permanent solution that enables them to continue to realize their vision for the property,” said Mr. Rosenstock. “We deeply appreciate when clients trust Greystone with multiple properties in their portfolio and we work tirelessly to beat their expectations every time.”

“Our Greystone team understands the complexities of multifamily financing in every market cycle,” said Mr. Craig Koenigsberg, CEO of CLK Properties. “Greystone’s commitment to excellence and client care are evident at each transaction, and we look forward to working together again in the future.”

About Greystone
Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com.

Media Contact:
Fran Del Valle
[email protected]

IDEAYA Biosciences, Inc. (IDYA) Presents at Citi's 2026 Virtual Oncology Leadership Summit Transcript

Income ETF strategies have been on the rise in recent years as investors and advisors look for streamlined, building block options to add current income. The space has grown increasingly competitive, as well, with ETFs a growing component of the fund landscape. That has made standing out a challenge for the funds as investors look for signals in a crowded category. 

See more: Large-Cap Growth ETF GSLC Adds Quarter Billion in 1 Week

One such fund, GPIX, the Goldman Sachs S&P 500 Premium Income ETF, may be raising its hand in that crowd. The fund has an important step in 2026, celebrating the key three year ETF milestone. That traditionally brings fresh attention to a fund as it can direct interested parties to three years of performance data. 

That milestone comes as the income ETF has stood out for its income and performance metrics. For a 29 basis point (bps) fee, the fund actively invests in S&P 500 companies while adding a call strategy to generate income on top of those exposures. 

The income ETF broadly mirrors the S&P 500’s weightings and characteristics while selling calls on about 25% to 75% of those equities. It can also use FLEX options and distribute dividends as desired to boost income.

Together, that has helped the fund return 13.4% over the last one year period. According to its YChart data, the fund also may be presenting an intriguing buy opportunity per its Relative Strength Index (RSI) which has flirted with oversold territory. 

When it comes to income, however, the ETF has delivered on its primary goal. The fund has offered an 8% 12 month distribution rate according to Goldman Sachs data as of January 31st. Its most recent pay date on January 8th saw the fund provide a 0.3755 distribution. 

The fund, then, may be one to watch in advance of its important milestone. Income ETFs can help portfolios ride out the myriad sources of uncertainty and volatility this year. From geopolitics to stubborn inflation and the ever-looming risk of tariffs, GPIX can help.

For more news, information, and strategy, visit the Future ETFs Content Hub.

Earn free CE credits and discover new strategies

The crude oil tanker, Flora, sails near Bandare Asaluyah, Iran, on January 27, 2026.

Middle East Images/AFP via Getty Images

Oil futures spiked by over 4% in intraday trading on Wednesday, as elevated U.S.-Iran tensions and fears of a conflict in the Middle East gripped the global market.

At 1:47 p.m. EST on Wednesday, global proxy benchmark Brent’s front-month futures contract traded up 4.15%, or $2.77, at $70.19 per barrel, while the U.S. benchmark West Texas Intermediate traded at $65.06, up 4.48%, or $2.79.

That’s after reports suggested Iranian forces were conducting naval exercises in the Strait of Hormuz, just as a U.S. carrier strike group — thought to be led by the USS Abraham Lincoln — was spotted off the coast of Oman.

Unconnected reports also suggested a fire had broken out near Iranian military sites in Parand, a town in close proximity to the capital Tehran. Highly implausible conjecture about Iran closing the Strait of Hormuz — one of the world’s key maritime arteries for oil and gas shipments — also resurfaced.

Additionally, Iran announced joint naval drills with Russia on Thursday, according to Abu Dhabi’s National newspaper, just as U.S. President Donald Trump said time was running out for Iran.

ForbesStrait Of Hormuz: Why Iran Is Unlikely To Block Key Oil Shipping RouteBy Gaurav Sharma

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Despite issuing harsh words of its own, Tehran will likely have grounds for concerns given Trump’s past form, in terms of strikes on the country’s nuclear program last year and the taking out of Quds Force commander Qasem Soleimani in 2020.

Over the past six weeks, Washington has added to its already formidable military assets base in the Middle East spread throughout naval and air bases across the region. All the while, talks between the U.S. and Iran, mediated by Oman, over a potential nuclear deal continue in Geneva, Switzerland.

Differing accounts ranging from “good progress” to a cessation of talks have resulted in oil prices seesawing between $60 and $70.

Geopolitical Risk Versus Bearish FundamentalsMarket sentiment this week has largely been towards the upside with markets fearing a regional escalation that would disrupt global trade. However, such sentiments are in a virtual tugging match against a well-supplied market.

In January, Iran produced just south of 4 million barrels per day, with around half that exported overseas. The bulk of those exports went to China. Despite heightened tensions, this equation has not shifted much into February.

As such, global oil market expectations of a supply surplus persist. This will primarily be visible in the first half of 2026 and especially in the case of light, sweet crude.

The Organization of Petroleum Exporting Countries is sitting on plenty of spare capacity should it choose to up stakes in a tussle for market share. The market is already witnessing an elevated level of non-OPEC production, mainly from the U.S., Canada, Brazil, Guyana and Norway.

Barring a major, prolonged upheaval, the oil market remains well supplied. There are simply no structural shifts to existing crude oil supply patterns. In its latest market update, the International Energy Agency forecast global demand growth in 2026 in the region of 850,000 bpd, while OPEC put it at 1.38 million bpd.

Even the higher demand growth figure can be more than met by current non-OPEC supply growth alone. Fears of a 3 million bpd-plus surplus in the first half of the current trading year haven’t gone away, making the current oil price rally anything but market-balance driven. Should tensions ease, the only likely way is down.

Disclaimer: The above commentary is meant to stimulate discussion based on the author’s opinion and analysis offered in a personal capacity. It is not solicitation, recommendation or investment advice to trade oil stocks, futures, options or products. Oil markets can be highly volatile and opinions in the sector may change instantaneously and without notice.

Wingstop Inc. (WING) Q4 2025 Earnings Call Transcript

Garmin Ltd. (GRMN) Q4 2025 Earnings Call Transcript

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SAN DIEGO--(BUSINESS WIRE)--Johnson Fistel, PLLP is investigating potential claims on behalf of investors of Phreesia, Inc. (NYSE: PHR). The investigation focuses on Phreesia’s executive officers and whether investor losses may be recovered under federal securities laws.

SAN DIEGO – Johnson Fistel, PLLP is investigating potential claims on behalf of investors of Phreesia, Inc. (NYSE: PHR). The investigation focuses on Phreesia’s executive officers and whether investor losses may be recovered under federal securities laws.

Share What if I purchased Phreesia securities?

If you purchased Phreesia securities and suffered losses on your investment, join our investigation now: Click here to join the investigation.

Or for more information, contact Jim Baker at [email protected] or (619) 814-4471.

There is no cost or obligation to you.

Background of the investigation

On December 9, 2025, during its third quarter fiscal year 2026 earnings call, Phreesia addressed questions regarding its Network Solutions segment and updated fiscal 2026 revenue guidance.

Following the call, Phreesia’s stock price declined approximately 25% on December 9, 2025.

Johnson Fistel is investigating whether Phreesia complied with the federal securities laws. If you suffered losses from your investment in Phreesia stock, contact Johnson Fistel.

About Johnson Fistel, PLLP | Top Law Firm – Securities Fraud & Investor Rights

Johnson Fistel, PLLP is a nationally recognized shareholder-rights law firm with offices in California, New York, Georgia, Idaho, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits and also assists foreign investors who purchased shares on U.S. exchanges. To learn more, visit www.johnsonfistel.com.

Achievements

In 2024, Johnson Fistel was ranked among the Top 10 Plaintiff Law Firms by ISS Securities Class Action Services. This recognition reflects the firm’s effectiveness in advocating for investors, having recovered approximately $90,725,000 for aggrieved clients in cases where it served as lead or co-lead counsel. This marks the eighth time the firm has been recognized as a top plaintiffs’ securities law firm in the United States, based on the total dollar value of final recoveries.

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Johnson Fistel, PLLP has paid for the dissemination of this promotional communication, and Frank J. Johnson is the attorney responsible for its content.

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