Market Signal Briefing

Revenue, Adjusted EBITDA and Marketshare
Continued to Grow to All-Time High

, /PRNewswire/ -- MGM China Holdings Limited ("MGM China" or the "Company"; SEHK Stock Code: 2282) today announced the selected unaudited financial data of the Company and its subsidiaries (the "Group") for the 12 months ended December 31, 2025 (the "Year").

The Group is pleased to see Macau continuing to grow in 2025. The city welcomed a record visitation of approximately 40 million in 2025, up from 34.9 million in 2024. Daily visitation was up 15% to 109,779.

Gross gaming revenue (GGR) also continued to grow last year. Full-year industry GGR was up 9% year-on-year to approximately MOP247 billion or daily MOP678 million in 2025, representing 85% of 2019. Each subsequent quarter delivered sequential acceleration of 1%, 8%,13% and 15% growth respectively in 2025.

MGM China saw record growth in various business segments in 2025. Property visitation rose 14% year-on-year. Daily GGR was up 11%. Net revenue of the Group grew by 11% year-on-year to HK$34.8 billion in 2025. Adjusted EBITDA also grew by 10% to historical high of HK$10 billion in 2025. The Group maintained adjusted EBITDA margin at 28.8% (2024: 28.9%), with a mass-focused business and sustaining operational efficiency. MGM China saw market share at new high of 16.1%, further climbed from 15.8% in 2024. MGM COTAI market share was 10.1% and MGM MACAU was 6.0%. The Group maintained a healthy financial position. As of December 31, 2025, the Group had a total liquidity of approximately HK$24 billion, comprised of bank balances and cash and undrawn revolver. MGM continues its hospitality legacy with seven five-star awards by Forbes Travel Guide 2025, featuring the team's dedication to delivering exceptional experiences.

During the Year, MGM MACAU introduced Alpha Villas with a total of 28 keys. Together with launch of Alpha Club also at the Peninsula property and completion of other refurbishment projects, MGM MACAU provides an elevated experience especially for premium customers, reflecting our understanding of their latest tastes and trends.

Our residency show Macau 2049 at MGM COTAI, jointly created by MGM and acclaimed director Zhang Yimou, was awarded the Weibo Cultural Tourism IP Award at the 2025 "Weibo Travel Night". The award reaffirms our achievements in cultural tourism communication and underscores our support for developing Macau as a platform for exchange and cooperation, where Chinese culture is the mainstream while diverse cultures coexist. Since its premiere, Macau 2049 has attracted an international audience with over 30% coming from overseas, a remarkable testament to its expanding global appeal and its ability to spark worldwide interest in traditional Chinese culture.

At MGM MACAU, POLY MGM MUSEUM reached a remarkable milestone by welcoming its one-millionth visitor in November last year. Spanning across nearly 2,000 square meters, the museum is meticulously built to meet national standards for exhibiting Grade-One cultural relics. It blends traditional craftsmanship with advance technology to create an immersive and world-class cultural experience for visitors.

The inaugural exhibition - The Maritime Silk Road – Discover the Mystical Seas and Encounter the Treasures of the Ancient Trade Route – was awarded the International and Hong Kong, Macao, Taiwan Cooperation Award by "Top Ten Museum Exhibitions" in China. The museum is currently presenting its second exhibition - Silk Roads Beyond Borders - which traces the history of the overland Silk Road through more than 200 historical artifacts and contemporary artworks. Through imaginative curatorial storytelling, the exhibition recreates a dialogue between past and present, inviting visitors on a cultural journey that transcends time and space.

Kenneth Feng, Chief Executive Officer of MGM China said: "We are excited to see MGM China being a solid outperformer in the market, ending the year with record-high growth across various business segments. We are proud to have maintained solid marketshare of over 16% for the full year, as our operating team continues to command a strong understanding and relationship with the premium customer driving the market."

Following the launch of Alpha Villas, MGM COTAI has begun converting rooms into approximately 60 new suites, further strengthening the complementary positioning of our properties - with MGM MACAU as the leading property on the Peninsula and MGM COTAI as the preferred destination for premium customers.

"We are committed to creating quality experiences for our visitors, aligning our offerings with the Macau Government's vision to develop the city into a global and diversified tourist destination. With more non-gaming and entertainment events taking place across Macau, we believe people will have even more reasons to visit, driving long-term and sustainable growth for the city," said Kenneth Feng.

About MGM China Holdings Limited

MGM China Holdings Limited (HKEx: 2282) is a leading developer, owner and operator of gaming and lodging resorts in the Greater China region. We are the holding company of MGM Grand Paradise, SA which holds one of the six gaming concessions to run casino games in Macau. MGM Grand Paradise, SA owns and operates MGM MACAU, the award-winning premium integrated resort located on the Macau Peninsula and MGM COTAI, a contemporary luxury integrated resort in Cotai, which opened in 2018 and more than doubles our presence in Macau. 

MGM China is majority owned by MGM Resorts International (NYSE: MGM) one of the world's leading global hospitality companies, operating a portfolio of destination resort brands including Bellagio, ARIA, MGM Grand, Mandalay Bay and Park MGM. For more information about MGM Resorts International, visit the Company's website at www.mgmresorts.com.

SOURCE MGM China

Sometimes, it can seem like the AI industry is racing to see who can spend the most money on data centers. Whoever builds the most data centers will have the most compute, the thinking goes, and thus be able to build the best AI products, which will guarantee victory in the years to come. There are limits to this way of thinking — traditionally, businesses eventually succeed by making more money and spending less — but it’s proven remarkably persuasive for large tech companies.

If that is the game, Amazon does seem to be winning.

The company announced in its earnings on Thursday that it projects $200 billion in capital expenditures throughout 2026, across “AI, chips, robotics, and low earth orbit satellites.” That’s up from the $131.8 billion in capex in 2025. It’s tempting to attribute the whole capex budget to AI. But unlike most of its competitors, Amazon has a significant physical plant, some of which is being converted for use by expensive robots, so the non-AI expenses aren’t so easy to wave away.

Google is close behind. In its earnings on Wednesday, the company projected between $175 billion and $185 billion in capital expenditures for 2026, up from $91.4 billion the previous year. It’s significantly more than the company spent on fixed assets last year, and significantly more than most of its competitors are spending.

Meta, which reported last week, projected $115 to $135 billion in capex spending for 2026, while Oracle (once the poster child for AI infrastructure) projects a measly $50 billion. Microsoft doesn’t have an official projection for 2026 yet, but the most recent quarterly figure was $37.5 billion, which pencils out to roughly $150 billion, assuming it keeps up. It’s a notable increase, and one that has led to investor pressure on CEO Satya Nadella — but it still puts the company in third place.

From within the tech world, the logic here is simple. The revolutionary potential of AI is going to turn high-end compute into the scarce resource of the future, and only companies that control their own supply will survive. But while Google, Amazon, Microsoft, Meta, Oracle and others are frantically prepping for the compute desert of the future, their investors aren’t convinced. Each company saw its stock price plummet as investors balked at the hundreds of billions of dollars being committed, and companies with higher spends tended to drop more.

Crucially, this isn’t just a problem for companies like Meta that haven’t figured out their AI product strategy yet. It’s everyone — even companies like Microsoft and Amazon with a robust cloud business and a straightforward take on how to make money in the AI era. The numbers are simply too high for investor comfort.

Techcrunch event

Boston, MA | June 23, 2026

Investor sentiment isn’t everything — and in this case, it may not do much to change the industry’s mind. If you believe AI is about to change everything (and the argument is pretty compelling at this point), you’d be a fool to change course just because Wall Street got jumpy. But going forward, big tech companies will be under a lot of pressure to downplay how expensive their AI ambitions really are.

Russell Brandom has been covering the tech industry since 2012, with a focus on platform policy and emerging technologies. He previously worked at The Verge and Rest of World, and has written for Wired, The Awl and MIT’s Technology Review. He can be reached at [email protected] or on Signal at 412-401-5489.

Q4: 2026-02-04 Earnings SummaryEPS of $1.27 misses by $0.03

 |

Revenue of

$187.47M

(14.28% Y/Y)

beats by $2.22M

EastGroup Properties, Inc. (EGP) Q4 2025 Earnings Call February 5, 2026 10:00 AM EST

Company Participants

Marshall Loeb - CEO & Director
Casey Edgecombe
R. Dunbar - President
Staci Tyler - Executive VP, CFO& Treasurer
Brent Wood - Executive VP & Chief Operating Officer

Conference Call Participants

Craig Mailman - Citigroup Inc., Research Division
Samir Khanal - BofA Securities, Research Division
Blaine Heck - Wells Fargo Securities, LLC, Research Division
Alexander Goldfarb - Piper Sandler & Co., Research Division
Nicholas Thillman - Robert W. Baird & Co. Incorporated, Research Division
Brendan Lynch - Barclays Bank PLC, Research Division
Todd Thomas - KeyBanc Capital Markets Inc., Research Division
Richard Anderson - Cantor Fitzgerald & Co., Research Division
Michael Griffin - Evercore ISI Institutional Equities, Research Division
Michael Mueller - JPMorgan Chase & Co, Research Division
Vikram Malhotra - Mizuho Securities USA LLC, Research Division
Eric Borden - BMO Capital Markets Equity Research
Omotayo Okusanya - Deutsche Bank AG, Research Division
Jessica Zheng
Ronald Kamdem - Morgan Stanley, Research Division

Presentation

Operator

Good morning, ladies and gentlemen, and welcome to the EastGroup Properties' fourth quarter 2025 earnings conference call and webcast. [Operator Instructions]. This call is being recorded on Thursday, February 5, 2026.

I would now like to turn the conference over to Marshall Loeb, CEO. Please go ahead.

Marshall Loeb
CEO & Director

Good morning, and thanks for calling in for our fourth quarter 2025 conference call. As always, we appreciate your interest. I'm happy to say that joining me on this morning's call are Reid Dunbar, our President; Staci Tyler, our CFO; and Brent Wood, our COO. Since we'll make forward-looking statements, we ask you listen to the following disclaimer.

Casey Edgecombe

Please note that our conference call today will contain financial measures such as PNOI and FFO that are non-GAAP measures as defined in Regulation G. Please refer to our most recent financial supplement and

Q4: 2026-02-05 Earnings SummaryEPS of $4.04 beats by $0.19

 |

Revenue of

$3.48B

(15.71% Y/Y)

beats by $377.34M

Huntington Ingalls Industries, Inc. (HII) Q4 2025 Earnings Call February 5, 2026 9:00 AM EST

Company Participants

Christie Thomas - Vice President of Investor Relations
Christopher Kastner - President, CEO & Director
Thomas Stiehle - Executive VP & CFO

Conference Call Participants

Robert Stallard - Vertical Research Partners, LLC
Douglas Harned - Bernstein Institutional Services LLC, Research Division
Scott Mikus - Melius Research LLC
Noah Poponak - Goldman Sachs Group, Inc., Research Division
Peter Skibitski - Alembic Global Advisors
Seth Seifman - JPMorgan Chase & Co, Research Division
John Godyn - Citigroup Inc., Research Division
Scott Deuschle - Deutsche Bank AG, Research Division
Myles Walton - Wolfe Research, LLC
Gautam Khanna - TD Cowen, Research Division
Mariana Perez Mora - BofA Securities, Research Division

Presentation

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Fourth Quarter 2025 HII Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions]

I would like now to hand the call over to Christie Thomas, Vice President of Investor Relations. Mrs. Thomas, you may begin.

Christie Thomas
Vice President of Investor Relations

Thank you, operator, and good morning, everyone. Welcome to the HII Fourth Quarter 2025 Conference Call. Matters discussed on today's call that constitute forward-looking statements, including our estimates regarding the company's outlook, involve risks and uncertainties and reflect the company's judgment based on information available at the time of this call. These risks and uncertainties may cause our actual results to differ materially. Additional information regarding these factors is contained in today's press release and the company's SEC filings.

We will also refer to non-GAAP financial measures. For additional disclosures about these non-GAAP measures, including reconciliations to comparable GAAP measures, please see the slides that accompany this webcast, which are available on the Investor Relations page of our website at ir.hii.com.

On the

Q1: 2026-02-04 Earnings SummaryEPS of $0.37 misses by $0.01

 |

Revenue of

$207.01M

(-6.20% Y/Y)

misses by $1.89M

Golub Capital BDC (GBDC) Q1 2026 Earnings Call February 5, 2026 10:00 AM EST

Company Participants

David B. Golub - CEO & Chairman
Timothy Topicz
Christopher Ericson - CFO & Treasurer

Conference Call Participants

Finian O'Shea - Wells Fargo Securities, LLC, Research Division
Ethan Kaye - Lucid Capital Markets, LLC, Research Division
Robert Dodd - Raymond James & Associates, Inc., Research Division
Paul Johnson - Keefe, Bruyette, & Woods, Inc., Research Division

Presentation

Operator

Hello, everyone, and welcome to GBDC's earnings call for the fiscal quarter ended December 31, 2025.

Before we begin, I'd like to take a moment to remind our listeners that remarks made during this call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts made during this call may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in GBDC's SEC filings.

For materials we intend to refer to on today's earnings call, please visit the Investor Resources tab on the homepage of our website, which is www.golubcapitalbdc.com and click on the Events and Presentations link. Our earnings release is also available on our website in the Investor Resources section. As a reminder, this call is being recorded.

With that, I'm pleased to turn the call over to David Golub, Chief Executive Officer of GBDC.

David B. Golub
CEO & Chairman

Hello, everybody, and thanks for joining us today. I'm joined by Tim Topicz, our Chief Operating Officer; and Chris Ericson, our Chief Financial Officer.

For those of you who are new to GBDC, our investment strategy is focused

Analyst’s Disclosure: I/we have a beneficial long position in the shares of AMZN, GOOGL either through stock ownership, options, or other derivatives. 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.

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Alphabet NASDAQ: GOOGL, the world's second-largest public company, once again delivered a standout earnings report, all but reinforcing its dominance across search, cloud, and artificial intelligence.

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.

Adecco (AHEXY) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

Covergirl makeup, owned by Coty Inc., is seen for sale in Manhattan, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly Purchase Licensing Rights, opens new tab

SummaryCompaniesNew CEO Strobel says Coty's performance over past 18 months has been disappointingCoty sees Q3 core profit below estimates, with a 200-300 bps drop in gross marginReports Q2 revenue slightly above expectationsNet debt-to-adjusted core earnings ratio reaches nine-year lowFeb 5 (Reuters) - CoverGirl owner Coty (COTY.N), opens new tab withdrew its full-year guidance on Thursday as it launched a strategic focus on core brands, with new interim CEO Markus Strobel calling for improved discipline and execution to turn around sluggish financial performance.

Strobel, a Procter & Gamble veteran who took over from Sue Nabi on January 1, faces a tough challenge to revive sales, particularly in Coty's consumer cosmetics division, as competition from newer beauty brands and larger rivals such as L'Oréal (OREP.PA), opens new tab intensifies.

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Coty's shares were down about 7% after the bell. They have fallen by around 73% in the past two years.

Coty stock has underperformed the broader S&P 500 index and rivalsThe company was already concentrating efforts towards its prestige fragrances, initiating a strategic review in September of its consumer beauty division, which could lead to the sale of brands such as CoverGirl and Rimmel, but Strobel is now demanding even sharper focus.

CEO RUES 'DISAPPOINTING' FINANCIAL PERFORMANCE"Our financial performance over the past year and a half has been disappointing, and our current share price reflects that reality," Strobel said in a statement. "Coty has outstanding assets and capabilities, yet we have not been delivering at the level we should."

Coty reported a 0.5% year-on-year increase in net revenue for its second quarter, ended December 31, to $1.68 billion, slightly above analysts' expectations, but said it was anticipating Q3 gross margins to decline by 200 to 300 basis points from the year-ago period.

With advertising spending planned to reignite market share improvement, Coty expects third-quarter adjusted EBITDA to fall to $100-$110 million, well below analysts' average forecast of $201.6 million in core earnings for that quarter.

The strategic shift — named "Coty. Curated" — is about reducing complexity, CFO Laurent Mercier told Reuters, instilling a "less is more" mindset to drive core businesses and focus on key icons.

"We are going to select ... the big ones where we have great assets, where we know that we have the winners, and really reallocate this money on these assets."

Mercier highlighted Kylie Cosmetics, which has doubled in size in the past three years, as well as long-term licences with Burberry and Marc Jacobs as some of Coty's best assets.

DEBT AND LEVERAGE AT NINE-YEAR LOWSThe new plan may result in a leaner Coty. One for the chop is its licence with biotech-led skincare brand Orveda, co-founded by Coty's former CEO Nabi, as the company focuses on "scale, reach and profitability."

Coty sold its remaining 25.8% stake in hair care brand Wella to KKR (KKR.N), opens new tab for $750 million in December, using most of the proceeds to pay down long-term debt. The company's net debt to adjusted core earnings (EBITDA) ratio has now reached a nine-year low of 2.7x.

Coty said it may receive additional proceeds from an initial public offering of Wella, which sources told Reuters could happen in the U.S. as soon as this year.

Other headwinds remain. Coty is losing its exclusive Gucci fragrance and beauty licence in 2028 after Kering (PRTP.PA), opens new tab agreed to sell its beauty business to L'Oréal and ever more inflation-conscious shoppers are turning to affordable cosmetic brands such as Elf Beauty (ELF.N), opens new tab.

​

Reporting by Neil J Kanatt in Bengaluru and Alexander Marrow in London; Editing by Alan Barona

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Alexander covers European consumer goods from London, focusing on the corporate strategies of companies including Nestle, Unilever, Danone and Reckitt, as well as on how their products impact consumers’ daily lives. Alexander previously covered Russia’s economy and companies from Moscow, reporting on the fallout from Russia’s 2022 invasion of Ukraine and the Western corporate exodus that followed.

Fourth-quarter bookings surged 63% from a year earlier, while daily active users increased 69%, and the number of hours engaged jumped 88%.

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New York, New York--(Newsfile Corp. - February 5, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Bath & Body Works, Inc. (NYSE: BBWI) between June 4, 2024 and November 19, 2025, both dates inclusive (the "Class Period"), of the important March 16, 2026 lead plaintiff deadline.

SO WHAT: If you purchased Bath & Body Works 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 Bath & Body Works class action, go to https://rosenlegal.com/submit-form/?case_id=50622 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: According to the lawsuit, throughout the Class Period, defendants made materially false and/or misleading statements, and that defendants failed to disclose that: (1) Bath & Body Works' strategy of pursuing "adjacencies, collaborations and promotions" was not growing the customer base and/or delivering the level of growth in net sales touted; (2) as Bath & Body Works' strategy of "adjacencies, collaborations and promotions" faltered, it relied on brand collaborations "to carry quarters" and obfuscate otherwise weak underlying financial results; (3) as a result, Bath & Body Works was unlikely to meet its own previously issued financial guidance; and (4) as a result of the foregoing, defendants' positive statements about Bath & Body Works' 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 Body & Body Works class action, go to https://rosenlegal.com/submit-form/?case_id=50622 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/.

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-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/282928

Source: The Rosen Law Firm PA

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Regis Corporation (RGS) Q2 2026 Earnings Call February 5, 2026 8:30 AM EST

Company Participants

Kersten Zupfer - Executive VP & CFO
Jim Lain - Interim President, CEO and EVP of Brand Operations for Supercuts & Cost Cutters

Conference Call Participants

William Charters - Sabal Capital Management, LLC

Presentation

Kersten Zupfer
Executive VP & CFO

Good morning, and thank you for joining the Regis Second Quarter 2026 Earnings Conference Call. I am your host, Kersten Zupfer, Executive Vice President and Chief Financial Officer. I am joined today by our Interim Chief Executive Officer, Jim Lain. [Operator Instructions] And this conference is being recorded.

I would like to remind everyone that the language on forward-looking statements included in our earnings release and 8-K filing also applies to our comments made on the call today. These documents can be found on our website, www.regiscorp.com/investor-relations. We will be taking questions at the end of the call. Please use the Q&A feature to submit any questions.

With that, I will now turn the call over to Jim Lain.

Jim Lain
Interim President, CEO and EVP of Brand Operations for Supercuts & Cost Cutters

Good morning, everyone, and thank you for joining us for Regis Corporation's Second Quarter Fiscal 2026 Earnings Call. As I mentioned last quarter, our focus remains on building a more durable, modern and disciplined Regis, one that is positioned to sustain consistent cash generation, improve financial performance and create long-term value for all stakeholders. Q2 represents continued progress on that journey. We are operating with greater precision and sharpening our focus on the execution levers that matter most despite traffic headwinds across the system.

For the second quarter, adjusted EBITDA was $8 million, an increase of $900,000 year-over-year, driven by continued G&A discipline and contributions from our company-owned salon portfolio. Year-to-date adjusted EBITDA of $16 million is up $1.2

Q4: 2026-02-05 Earnings SummaryEPS of $0.19 beats by $0.04

 |

Revenue of

$92.50M

beats by $5.24M

Bullish (BLSH) Q4 2025 Earnings Call February 5, 2026 8:30 AM EST

Company Participants

Michael Fedele - Vice President of Finance
Thomas Farley - CEO & Chairman
David Bonanno - Chief Financial Officer

Conference Call Participants

Owen Lau - Clear Street LLC
Brian Bedell - Deutsche Bank AG, Research Division
Rayna Kumar - Oppenheimer & Co. Inc., Research Division
Madeline Daleiden - JPMorgan Chase & Co, Research Division
Peter Christiansen - Citigroup Inc., Research Division
Gareth Gacetta - Cantor Fitzgerald & Co., Research Division
Joseph Vafi - Canaccord Genuity Corp., Research Division
Edward Engel - Compass Point Research & Trading, LLC, Research Division
Christopher Brendler - Rosenblatt Securities Inc., Research Division

Presentation

Operator

Thank you for standing by. At this time, I would like to welcome everyone to the Bullish Global Fourth Quarter 2025 Earnings Call and Q&A. [Operator Instructions]

I would now like to turn the call over to Michael Fedele, Vice President of Finance. You may begin.

Michael Fedele
Vice President of Finance

Good morning, and welcome to our fourth quarter earnings call. I'm Michael Fedele, Vice President of Finance, and I'm joined on today's call by our Chief Executive Officer, Tom Farley; Chief Financial Officer, David Bonanno; and Director of Corporate Development, Liam Foley.

This call will contain forward-looking statements, including those relating to our expected performance and business opportunities. These statements are not assurances of future performance. They are subject to risks and uncertainties and our actual results could differ materially. For more details on these risks, please refer to today's earnings press release and our SEC filings, including our prospectus dated August 12, 2025. We undertake no obligation to update or revise any forward-looking statements.

This call will also include a discussion of non-IFRS financial measures. A reconciliation of these metrics to the most directly comparable IFRS metrics can be found in our earnings

The social media company posted a quarterly profit of $252 million, up from $71 million a year earlier.

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Significant Losses in Wealthfront to Contact Him Directly to Discuss Their Options

If you suffered significant losses in Wealthfront stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

[You may also click here for additional information]

New York, New York--(Newsfile Corp. - February 5, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Wealthfront Corporation ("Wealthfront" or the "Company") (NASDAQ: WLTH).

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

Shares of Wealthfront Corporation declined sharply following the company's first post-IPO earnings release, pressured by disappointing asset flow figures and emerging investor concerns about strategic exposures underpinning its mortgage business. The stock sell-off came as Wealthfront reported softer net inflows in recent months, signaling a slowdown in client acquisitions and cash management balances relative to prior periods. Additionally, heightened market scrutiny over the CEO's ownership stake in a banking partner central to the firm's mortgage initiative has added to investor uncertainty, fueling speculation around potential conflicts of interest and long-term integration risks.

Since the company's IPO on or around December 12, 2025, at $14.00 per share, the stock has fallen $3.74, or 26.71%, to close at $10.26 on January 14, 2026.

To learn more about the Wealthfront investigation, go to www.faruqilaw.com/WLTH or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

Follow us for updates on LinkedIn, on X, or on Facebook.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/282884

Source: Faruqi & Faruqi LLP

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Viral social media trend spotlights America's fiber gap, fiber's role in long-term health, and its importance for people using GLP-1 medications

, /PRNewswire/ -- Life Time (NYSE: LTH), the nation's premier healthy lifestyle brand, is weighing in on "fibermaxxing," a growing social media trend encouraging people to increase their daily fiber intake to support health, longevity and overall metabolic well-being.

With fewer than 5 percent of Americans consistently meeting recommended daily fiber intake of 21–25 grams for women and 30–38 grams for men, the hashtag #fibermaxxing has garnered millions of views on TikTok. The trend reflects growing interest in gut health, balanced nutrition and sustainable eating habits across generations. With fewer than 5 percent of Americans consistently meeting recommended daily fiber intake of 21–25 grams for women and 30–38 grams for men, the hashtag #fibermaxxing has garnered millions of views on TikTok. The trend reflects growing interest in gut health, balanced nutrition and sustainable eating habits across generations.

Interest in fiber comes at a time when more Americans are using GLP-1 weight-loss medications, prompting renewed focus on how fiber and protein work together to support digestion, meal satisfaction, and long-term nutritional balance.

While fibermaxxing has gained traction among younger audiences, fiber intake is increasingly top-of-mind for adults over 40 and 50 as well, driven by attention from longevity experts, wellness podcasts and preventive-health clinicians.

"Fiber plays an essential role in overall health and is especially vital for healthy aging," said James LaValle, Life Time Chief Science Officer and Clinical Pharmacist, C.C.N.M.T., C.C.N. "Adequate fiber intake supports blood sugar balance, gut health and hormone metabolism, as well as promoting fullness. Together, these can strongly influence health span. For most people, meaningful improvement starts with adding one or two quality fiber sources a day."

The Metabolic Code bloodwork assessment offered through MIORA at Life Time further highlights how common digestive and metabolic imbalances are, and how modest increases in daily fiber can support long-term health improvements.

"Unlike many recent nutrition trends, fibermaxxing is additive, which makes it generally positive," said Paul Kriegler, Registered Dietitian and Senior Director of Nutritional Products at Life Time. "Most adults aren't getting enough fiber and increasing intake can support digestion, appetite control, and overall health."

The two main types of fibers are soluble and insoluble fiber. Soluble fiber is found in foods like oats, beans, apples, citrus fruits, and chia seeds, which dissolves in water and helps regulate blood sugar and cholesterol. Insoluble fiber is often found in vegetables, whole grains, nuts, and seeds, which add bulk and support regular digestion. Kriegler notes that fiber can also complement adequate protein intake, particularly for individuals using GLP-1 medications, where digestive comfort and balanced nutrition are especially important.

Kriegler also sees the trend as part of a broader shift in how younger generations approach health. "The current social media generation seems to care about their health earlier and more proactively," he said. "Choosing more natural sources of protein and fiber is a very positive movement. Ample protein and ample produce tend to create healthier people."

How to increase fiber without feeling miserable:
Kriegler emphasizes that the most common mistake people make with fibermaxxing is increasing intake too quickly. His recommendations include:

Build up gradually: Increase fiber slowly over several weeks to allow your digestive system to adapt. Drink enough water: Fiber works best when paired with adequate hydration. Prioritize whole foods: The best sources of fiber are vegetables, fruits, beans, lentils, and whole grains. Be consistent, not perfect: Adding one high-fiber item to each meal is more sustainable than changing everything at once. Use supplements when helpful: Fiber powders are a practical, convenient tool for consistency when whole-food intake falls short. Life Time supports nutrition improvement through programs and services that include nutrition coaching, fiber-focused programs such as its 14-day reset called D.TOX, training, and access to its LTH supplement line, including LTH Shift Fiber, a prebiotic fiber powder designed to support digestive health and daily consistency.

For more information about Life Time, visit www.lifetime.life, follow on social media at Facebook, Instagram and LinkedIn, or download the complimentary Life Time App.  

About Life Time
Life Time (NYSE: LTH) empowers people to live healthy, happy lives through its more than 185 athletic country clubs across the U.S. and Canada, the complimentary and comprehensive Life Time app featuring its L•AI•C™ AI-powered health companion, and more than 30 iconic athletic events. Serving people ages 90 days to 90+ years, the Life Time ecosystem uniquely delivers healthy living, healthy aging, and healthy entertainment experiences, a range of unique healthy way of life programs, highly trusted LTH nutritional supplements and more. Recognized as a Great Place to Work®, the company is committed to upholding an exceptional culture for its 43,000 team members.

SOURCE Life Time, Inc.

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered in Vistagen to Contact Him Directly to Discuss Their Options

If you purchased or acquired securities in Vistagen between April 1, 2024 and December 16, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

[You may also click here for additional information]

New York, New York--(Newsfile Corp. - February 5, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Vistagen Therapeutics, Inc. ("Vistagen" or the "Company") (NASDAQ: VTGN) and reminds investors of the March 16, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: Vistagen's positive assertions of fasedienol's future trial success based on the prior positive results associated with the PALISADE-2 clinical trial, in addition to notable enhancements and operational changes made to the execution of the PALISADE-3 clinical trial supported a strong likelihood of Phase 3 success and positioning it as a confirmatory study was false and misleading and/or concealing material adverse facts. This caused Plaintiff and other shareholders to purchase Vistagen's common stock at artificially inflated prices.

On December 17, 2025, before the market opened, Vistagen announced topline results from its PALISADE-3 Public Speaking Challenge Study of fasedienol for the acute treatment of social anxiety disorder (SAD). The company reported that the study failed to meet its primary efficacy endpoint since it "did not demonstrate statistically significant improvement on primary endpoint of reduction in anxiety as measured by SUDS scores compared to placebo."

Following this news, VTGN's stock price fell over 81% to open at $0.88 per share.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Vistagen's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the Vistagen Therapeutics class action, go to www.faruqilaw.com/VTGN or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

Follow us for updates on LinkedIn, on X, or on Facebook.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/282883

Source: Faruqi & Faruqi LLP

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ToplineAmazon on Thursday reported fourth-quarter earnings that fell below Wall Street’s estimates, sending shares of the e-commerce giant plummeting in after-hours trading following its earnings report that included a projection for a massive $200 billion in spending for 2026.

The e-commerce giant appeared to ramp up its AI strategy over the last year.

Copyright 2022 The Associated Press. All rights reserved.

Key FactsRevenue increased to $213.4 billion in Amazon’s latest quarter, beating consensus analyst estimates of $211.4 billion, according to FactSet, while $1.95 earnings per share fell below projections of $1.97 EPS.

Amazon CEO Andy Jassy said in a statement the company anticipated capital expenditures of $200 billion in 2026, citing “strong” demand for AI, chips, robotics and low-orbit satellites.

That’s well above consensus analyst estimates of $146.6 billion for capital expenditures.

Shares of Amazon dropped more than 7% as of 4:23 p.m. EST, after earlier diving by as much as 10% in extended trading.

Amazon’s revenue for 2025 reached $716.9 billion, beating projections of $714.6 billion, as Amazon Web Services revenue rose 20% year-over-year to $128.7 billion.

What Time Is Amazon’s Earnings Call?Amazon will host its Q4 earnings call at 5 p.m. EST, with an option to listen in on its investor relations website.

Key BackgroundAmazon’s stock dropped 5% over the last year, with the e-commerce giant’s heavy exposure to tariffs on China disrupting business throughout 2025. The company has moved to build out its AI offerings and cloud infrastructure, as competitors Microsoft and Google have rapidly increased spending to meet growing demand for AI products. Amazon has invested $8 billion in Anthropic, which announced updates to its AI agent that disrupted the global software market, rattling tech giants Oracle and Adobe, as well as India’s largest IT firms. Amazon last year opened an $11 billion AI data center exclusively for Anthropic to run workloads for its Claude chatbot. The company is also reportedly in talks to invest $50 billion in OpenAI, after earlier signing a $38 billion cloud computing deal with the startup in November. UBS analysts said in a note this week that they increased their estimates for Amazon’s capital expenditures, citing the company’s plans to grow its AWS business as Amazon became overshadowed by its megacap peers in the AI market.

What To Watch ForNvidia is the last of the “Magnificent Seven” companies to report quarterly earnings, which it will do on Feb. 25. Alphabet posted better-than-expected earnings on Wednesday, while Meta, Apple, Microsoft and Tesla reported last week.

Further ReadingForbesAlphabet Beats Earnings Expectations As Annual Revenue Tops $400 Billion For First TimeBy Ty RoushForbesMark Zuckerberg Passes Jeff Bezos For No. 4 Richest As Meta Stock Soars On Earnings BeatBy Ty Roush

New York, New York--(Newsfile Corp. - February 5, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of BellRing Brands, Inc. (NYSE: BRBR) between November 19, 2024 and August 4, 2025, both dates inclusive (the "Class Period"), of the important March 23, 2026 lead plaintiff deadline.

SO WHAT: If you purchased BellRing 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 BellRing class action, go to https://rosenlegal.com/submit-form/?case_id=51444 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 23, 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: According to the lawsuit, BellRing develops, markets, and sells "convenient nutrition" products such as ready-to-drink ("RTD") protein shakes primarily under the brand name Premier Protein. During the Class Period, defendants represented that sales growth reflected increased end-consumer demand, attributing results to "organic growth," "distribution gains," "incremental promotional activity," and "[s]trong macro tailwinds around protein" among other factors. At the same time, defendants downplayed the impact of competition on demand, insisting BellRing was not experiencing any significant changes in competition, and that in the RTD category particularly, BellRing possessed a "competitive moat," given that "the ready-to-drink category is just highly complex" and the products are "hard to formulate." As alleged, in truth, BellRing's reported sales during the Class Period were driven by its key customers stockpiling inventory and did not reflect increased end-consumer demand or brand momentum. Following the destocking, BellRing admitted that competitive pressures were materially weakening demand. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the BellRing class action, go to https://rosenlegal.com/submit-form/?case_id=51444 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.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/282929

Source: The Rosen Law Firm PA

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Q4: 2026-02-05 Earnings SummaryEPS of $3.42 beats by $0.02

 |

Revenue of

$4.36B

(10.26% Y/Y)

beats by $124.42M

IQVIA Holdings Inc. (IQV) Q4 2025 Earnings Call February 5, 2026 9:00 AM EST

Company Participants

Kerri Joseph - Senior VP of Investor Relations & Treasurer
Ari Bousbib - CEO & Chairman
Ronald Bruehlman - Executive VP & CFO
Michael Fedock - Senior Vice President of Financial Planning and Analysis

Conference Call Participants

Shlomo Rosenbaum - Stifel, Nicolaus & Company, Incorporated, Research Division
Eric Coldwell - Robert W. Baird & Co. Incorporated, Research Division
Justin Bowers - Deutsche Bank AG, Research Division
Elizabeth Anderson - Evercore ISI Institutional Equities, Research Division
David Windley - Jefferies LLC, Research Division

Presentation

Operator

Ladies and gentlemen, thank you for standing by. At this time, I would like to welcome everyone to the IQVIA Fourth Quarter 2025 Earnings Conference Call. [Operator Instructions] As a reminder, this call is being recorded.

Thank you. I would now like to turn the call over to Kerri Joseph, Senior Vice President, Investor Relations and Treasury. Mr. Joseph, please begin your conference.

Kerri Joseph
Senior VP of Investor Relations & Treasurer

Thank you, operator. Good morning, everyone. Thank you for joining our fourth quarter and full year 2025 earnings call. With me today are Ari Bousbib, Chairman and Chief Executive Officer, Ronald Bruehlman, Executive Vice President and Chief Financial Officer; Eric Sherbet, Executive Vice President and General Counsel; Mike Fedock, Senior Vice President, Financial Planning and Analysis; and Gustavo Perrone, Senior Director, Investor Relations.

Today, we'll be referencing a presentation that will be visible during this call for those of you on the webcast. This presentation will also be available following this call in the Events and Presentations section of our IQVIA Investor Relations website at ir.iqvia.com.

Before we begin, I would like to caution listeners that certain information discussed by management during this conference call will include forward-looking statements. Actual results could differ materially from

Q3: 2026-02-04 Earnings SummaryEPS of $2.77 beats by $0.05

 |

Revenue of

$919.10M

(1.42% Y/Y)

misses by $13.03M

EnerSys (ENS) Q3 2026 Earnings Call February 5, 2026 9:00 AM EST

Company Participants

Lisa Langell - VP of Investor Relations & Corporate Communications
Shawn O'Connell - President, COO, President of Energy Systems Global & Director
Andrea Funk - Executive VP & CFO

Conference Call Participants

Noah Kaye - Oppenheimer & Co. Inc., Research Division
Alfred Moore - ROTH Capital Partners, LLC, Research Division
Brian Drab - William Blair & Company L.L.C., Research Division
Gregory Lewis - BTIG, LLC, Research Division

Presentation

Operator

Hello, and thank you for standing by. My name is Bella, and I will be your conference operator today. At this time, I would like to welcome everyone to EnerSys' Q3 Fiscal '26 Earnings Webcast and Conference Call. [Operator Instructions] I would now like to turn the conference over to Lisa Langell, Vice President, Investor Relations and Corporate Communications. You may begin.

Lisa Langell
VP of Investor Relations & Corporate Communications

Good morning, everyone. Thank you for joining us today to discuss EnerSys fiscal third quarter results. On the call with me are Shawn O'Connell, EnerSys' President and Chief Executive Officer; and Andi Funk, EnerSys' Executive Vice President and Chief Financial Officer.

Last evening, we published our third quarter results with the SEC, which are available on our website. We also posted slides that we'll be referring to during this call. The slides are available on the Presentations page within the Investor Relations section of our website.

As a reminder, we will be presenting certain forward-looking statements on this call that are subject to uncertainties and changes in circumstances. Our actual results may differ materially from these forward-looking statements for a number of reasons. These statements are made only as of today. For a list of forward-looking statements and factors which could affect our future results, please refer to our recent Form 8-K and 10-Q

Unknown Attendee

As drug development teams finalize molecule optimization, packing development begins. Often a time-consuming process of evaluating multiple components, suppliers and test results. For prefilled syringes regulated as combination products, ambiguous requirements and extensive verification can add months to clinical time lines with no guarantee of full risk coverage.

Today's session introduces a new approach to prefillable syringe systems, a fully harmonized solution integrating the syringe barrel, plunger and a needle shield tip cap from a single verified supplier, West Pharmaceuticals. We will be led by Dr. Bettine Boltres, Director of Scientific Affairs, Integrated Systems with West. She will share how this integrated system reduces complexity, minimizes testing burden and enables emerging biotechnology companies to accelerate readiness for clinical fill while conserving time and resources.

I'm your host, James [indiscernible] with Pharmaceutical Online. I'd like to thank you, the audience, for attending today's event. This is live, so we do encourage your participation. Take a moment to get comfortable with the tools on your screen. Bettine's contact information is to your right. And below me, you'll see a question box. Please share your thoughts with us during the presentation. We will answer as many questions as possible. And any we miss, I'll pass along for follow-up after the event. This question box can connect you with me if you run into any trouble, but please try refreshing your browser first as it will fix most common issues.

Finally, today's event will be available on demand. You'll receive an e-mail with a shareable link shortly after we conclude.

Now without further ado, let's begin today's presentation. Welcome, Bettine.

ArcelorMittal S.A. (MT) Q4 2025 Earnings Call Transcript