MTY Food Group press release ( MTYFF ): Q4 Non-GAAP EPS of $1.88. Revenue of $305.4M (+7.4% Y/Y) beats by $98.44M . Normalized adjusted EBITDA, which excludes acquisition-related expenses and SAP project implementation costs, increased by $28.3 million year-over-year to reach $87.7 million in the fourth quarter of 2025. At the end of the fourth quarter of 2025, MTY’s network had 7,080 locations in...
MTY Food Group press release ( MTYFF ): Q4 Non-GAAP EPS of $1.88. Revenue of $305.4M (+7.4% Y/Y) beats by $98.44M . Normalized adjusted EBITDA, which excludes acquisition-related expenses and SAP project implementation costs, increased by $28.3 million year-over-year to reach $87.7 million in the fourth quarter of 2025. At the end of the fourth quarter of 2025, MTY’s network had 7,080 locations in operation, of which 6,831 were franchised or under operator agreements and 249 were corporate-owned. The geographical split among MTY’s locations remained stable year-over-year at 57% in the US, 35% in Canada and 8% International. During the fourth quarter of 2025, MTY’s network opened 85 locations (Q4 2024 – 92 locations) and closed 66 others (Q4 2024 – 79 locations) for a net positive store growth of 19 locations. More on MTY Food Group Inc. MTY Food Group: The Buyout Math Is Too Obvious To Ignore Seeking Alpha’s Quant Rating on MTY Food Group Inc. Historical earnings data for MTY Food Group Inc. Dividend scorecard for MTY Food Group Inc. Financial information for MTY Food Group Inc.
Hong Kong’s hotels and tourist-area restaurants reported robust business during the Lunar New Year holiday, even as a surge in outbound travel by residents underscored the city’s increasingly visitor-driven festival economy. An industry leader said the city had also seen more mainland tourists partly because of ongoing diplomatic tensions between China and Japan. Hongkongers were able to enjoy a n...
Hong Kong’s hotels and tourist-area restaurants reported robust business during the Lunar New Year holiday, even as a surge in outbound travel by residents underscored the city’s increasingly visitor-driven festival economy. An industry leader said the city had also seen more mainland tourists partly because of ongoing diplomatic tensions between China and Japan. Hongkongers were able to enjoy a nine-day holiday this year by taking two days of annual leave on February 16 and 20 on either side of...
littleny/iStock Editorial via Getty Images The Unthinkable Might Finally Happen Madison Square Garden Sports Corp. (NYSE: MSGS ) is a unique small-cap company that allows shareholders to own a piece of professional US sports. The stock encompasses equity ownership of both the NBA's New York Knicks and the NHL's New York Rangers . There aren't many other opportunities to do this, with the Atlanta B...
littleny/iStock Editorial via Getty Images The Unthinkable Might Finally Happen Madison Square Garden Sports Corp. (NYSE: MSGS ) is a unique small-cap company that allows shareholders to own a piece of professional US sports. The stock encompasses equity ownership of both the NBA's New York Knicks and the NHL's New York Rangers . There aren't many other opportunities to do this, with the Atlanta Braves Holdings, Inc. ( BATRK ) being the other often owned and written about opportunity. Some news on the recent announcement : MSG Sports, in part following activist shareholder pressure, is exploring a spin-off of the NBA’s Knicks and NHL’s Rangers into two separate, publicly traded companies. The James Dolan–led entity said Wednesday that it is looking into the move and whether it would provide “enhanced strategic and financial flexibility,” though there is no certainty it will happen and no defined timetable for a decision. “Both the Knicks and Rangers are premier teams in their respective leagues, with storied histories and large and passionate fan bases,” Dolan, MSG Sports executive chairman and CEO, said in a statement. “We believe this proposed transaction would provide each company with enhanced strategic flexibility, its own defined business focus, and clear characteristics for investors.” The formal exploration of the spin-off arrives nearly eight months after activist investor Boyar Value Group pressured MSG Sports to do this , arguing that the full value of the Knicks was particularly trapped in the current corporate structure. Investors in this stock have seen value for years. Two of the most valuable franchises in their respective leagues are being sold at a discount to comps. However, they had little faith that ownership and CEO James Dolan would budge and split apart the two companies to make them marketable. The Dolan family controls 3 companies currently: Company Ticker Owns Madison Square Garden Sports MSGS Knicks, Rangers Madison Square Garden Entertai...
Cenovus Energy press release ( CVE ): Q4 EPS of C$0.50 Revenue of C$12.93B (-14.7% Y/Y). More on Cenovus Energy Inc. Cenovus Energy: MEG Energy Acquisition Results Are The Key To Outperformance Cenovus Energy: Big Year Ahead Cenovus Energy: 2026 Is Going To Be Interesting Chevron and Suncor upgraded, ConocoPhillips and Cenovus cut at J.P. Morgan Seeking Alpha’s Quant Rating on Cenovus Energy Inc.
Cenovus Energy press release ( CVE ): Q4 EPS of C$0.50 Revenue of C$12.93B (-14.7% Y/Y). More on Cenovus Energy Inc. Cenovus Energy: MEG Energy Acquisition Results Are The Key To Outperformance Cenovus Energy: Big Year Ahead Cenovus Energy: 2026 Is Going To Be Interesting Chevron and Suncor upgraded, ConocoPhillips and Cenovus cut at J.P. Morgan Seeking Alpha’s Quant Rating on Cenovus Energy Inc.
Legacy Cedar Fair press release ( FUN ): Q4 GAAP EPS of -$0.91 misses by $0.62 . Revenue of $650M (-5.4% Y/Y) beats by $51.95M . Attendance totaled 9.3 million guests, down 13% or approximately 1.4 million visitors compared with the fourth quarter of 2024 -- on a per operating day basis attendance was down 2% compared with the fourth quarter of 2024. Per capita spending (2) was $66.41, up 8% compa...
Legacy Cedar Fair press release ( FUN ): Q4 GAAP EPS of -$0.91 misses by $0.62 . Revenue of $650M (-5.4% Y/Y) beats by $51.95M . Attendance totaled 9.3 million guests, down 13% or approximately 1.4 million visitors compared with the fourth quarter of 2024 -- on a per operating day basis attendance was down 2% compared with the fourth quarter of 2024. Per capita spending (2) was $66.41, up 8% compared with the fourth quarter of 2024. Adjusted EBITDA (1) totaled $165 million compared with Adjusted EBITDA of $209 million in the fourth quarter of 2024. Operating days totaled 779, down 11%, compared with 878 days in the fourth quarter of 2024. More on Legacy Cedar Fair Six Flags: Can Activist Pressure The Broken Merger? (Rating Upgrade) Legacy Cedar Fair Q4 2025 Earnings Preview Disney moves forward with plans for a theme park in Abu Dhabi Seeking Alpha’s Quant Rating on Legacy Cedar Fair Historical earnings data for Legacy Cedar Fair
Sandwish/iStock via Getty Images Introduction Paychex ( PAYX ) was long seen as a stable, growing business in the human capital management (HCM) space that was built on sticky business clients, recurring payroll revenues, and operating margins north of 40%. For years, its scale, regulatory expertise, and bundled HR solutions created a durable moat that justified premium valuation multiples. But as...
Sandwish/iStock via Getty Images Introduction Paychex ( PAYX ) was long seen as a stable, growing business in the human capital management (HCM) space that was built on sticky business clients, recurring payroll revenues, and operating margins north of 40%. For years, its scale, regulatory expertise, and bundled HR solutions created a durable moat that justified premium valuation multiples. But as growth starts to lean more on acquisitions and as AI begins to commoditize parts of its business, I think investors are forced to ask a tougher question: is Paychex still the defensive cash machine it once was, or is its competitive advantage quietly clocking out? Credit where it’s due, the business is holding its own Q2'26 expectations were already low for Paychex, and so the company surpassed them across all major metrics. On the top line, revenues of $1.56 billion were 18% higher compared to last year, right in line with consensus expectations. On the bottom line, EPS of $1.26 was 12 cents higher compared to last year and 3 cents above sell-side estimates. Seeking Alpha When we look at what drove results this quarter, the biggest thing to point out was in the Management Solutions business that grew 21% to $1.2 billion; the company had decent product penetration and price realization, but that was partially offset by a softer revenue per client. But most of that wasn’t organic, as the Paycor acquisition contributed roughly 17% to that increase. In April last year, Paychex bought Paycor in a $4.1 billion transaction at a 15.7x EV/EBITDA multiple, well above where Paychex itself trades today. Paycor is similar to Paychex in that it provides HCM software like payroll and HR but Paycor has more of a focus on small and mid-market customers, and the deal rationale was mostly around cross selling opportunities that would allow Paychex to deliver its PEA, ASO, and retirement solutions services to Paycor customers. In the company’s other segment, PEO and Insurance Solutions, reve...
EPAM Systems press release ( EPAM ): Q4 Non-GAAP EPS of $3.26 beats by $0.10 . Revenue of $1.41B (+12.8% Y/Y) beats by $20M . Cash provided by operating activities was $282.9 million in the fourth quarter of 2025, an increase from $130.3 million in the fourth quarter of 2024; and was $654.9 million in 2025, an increase from $559.2 million in 2024; 2026 Outlook - Full Year and First Quarter Full Ye...
EPAM Systems press release ( EPAM ): Q4 Non-GAAP EPS of $3.26 beats by $0.10 . Revenue of $1.41B (+12.8% Y/Y) beats by $20M . Cash provided by operating activities was $282.9 million in the fourth quarter of 2025, an increase from $130.3 million in the fourth quarter of 2024; and was $654.9 million in 2025, an increase from $559.2 million in 2024; 2026 Outlook - Full Year and First Quarter Full Year EPAM expects the following for the full year: The Company expects the year-over-year revenue growth rate to be in the range of 4.5% to 7.5% for 2026 vs. $5.83B consensus vs. estimated growth of 7.08% Y/Y. The Company expects the year-over-year revenue growth rate on an organic constant currency basis to be in the range of 3% to 6%; For the full year, EPAM expects GAAP income from operations to be in the range of 10% to 11% of revenues and non-GAAP income from operations to be in the range of 15% to 16% of revenues; The Company expects its GAAP effective tax rate to be approximately 26% and its non-GAAP effective tax rate to be approximately 24%; and EPAM expects GAAP diluted EPS will be in the range of $7.95 to $8.25 for the year, and non-GAAP diluted EPS will be in the range of $12.60 to $12.90 for the year vs. $12.55 consensus . The Company expects weighted average diluted shares outstanding for the year of 54.4 million. First Quarter EPAM expects the following for the first quarter: The Company expects revenues will be in the range of $1.385 billion to $1.400 billion for the first quarter reflecting a year-over-year increase of 7.0% at the midpoint of the range vs. $1.40B consensus . The Company expects year-over-year revenue growth on an organic constant currency basis to be approximately 2.9% at the midpoint of the range; For the first quarter, EPAM expects GAAP income from operations to be in the range of 7.0% to 8.0% of revenues and non-GAAP income from operations to be in the range of 13.5% to 14.5% of revenues; The Company expects its GAAP effective tax rate to ...
Lemonade press release ( LMND ): Q4 GAAP EPS of -$0.29 beats by $0.10 . Revenue of $228.1M (+53.3% Y/Y) beats by $10.03M . Fourth quarter revenue of $228.1 million increased by $79.3 million or 53% ascompared to the fourth quarter of 2024, primarily due to the increase of grossearned premium, ceding commission income, and a reduced premium cession raterelated to quota share reinsurance following o...
Lemonade press release ( LMND ): Q4 GAAP EPS of -$0.29 beats by $0.10 . Revenue of $228.1M (+53.3% Y/Y) beats by $10.03M . Fourth quarter revenue of $228.1 million increased by $79.3 million or 53% ascompared to the fourth quarter of 2024, primarily due to the increase of grossearned premium, ceding commission income, and a reduced premium cession raterelated to quota share reinsurance following our recent renewal, as covered indetail in the second quarter's letter to shareholders. IFP, defined as the aggregate annualized premium for customers as of the periodend date, increased by 31% to $1.24 billion as compared to the fourth quarter of2024. Customer count increased by 23% to 2,984,513 as compared to the fourth quarterof 2024. Premium per customer, defined as IFP divided by customers, was $414 at the endof the fourth quarter, up 7% from the fourth quarter of 2024. ADR, defined as the percentage of IFP retained over a twelve month period,inclusive of changes in policy value, changes in number of policies, changes in policytype, and churn was 85%, a 1 percentage point decrease from the fourth quarter of2024, and flat from the third quarter of 2025. The decline is largely attributable tothe non-renewal of policies which failed to meet certain underwriting criteria, asdiscussed in prior letters. Fourth quarter gross earned premium of $290.2 million increased by $63.8 millionor 28% as compared to the fourth quarter of 2024, primarily due to the increase ofIFP earned during the quarter. Revenue Q1 guidance: $246 - $251 vs. $214.58M consensus FY26 guidance: $1,187 - $1,192 vs. $1.16B consensusShares +4% PM. More on Lemonade Lemonade: Writing Premiums Is Easy, Making Money Is Not Lemonade: Love The Tesla Collaboration But Hate Current Valuation Lemonade's Cost Curve Experiment Most and least shorted financial stocks with market caps above $2B as of mid-february SA Asks: Which financial stocks are best positioned for AI?
India's Prime Minister Narendra Modi (L) takes a group photo with AI company leaders including OpenAI CEO Sam Altman (C) and Anthropic CEO Dario Amodei (R) at the AI Impact Summit in New Delhi on February 19, 2026. Ludovic Marin | Afp | Getty Images OpenAI's Sam Altman and Anthropic's Dario Amodei had an awkward moment on Thursday as they chose not to hold hands during a group photo of political a...
India's Prime Minister Narendra Modi (L) takes a group photo with AI company leaders including OpenAI CEO Sam Altman (C) and Anthropic CEO Dario Amodei (R) at the AI Impact Summit in New Delhi on February 19, 2026. Ludovic Marin | Afp | Getty Images OpenAI's Sam Altman and Anthropic's Dario Amodei had an awkward moment on Thursday as they chose not to hold hands during a group photo of political and tech leaders. They were on stage at the India AI Impact Summit, alongside Indian Prime Minister Narendra Modi, Google and Alphabet CEO Sundar Pichai, among others. Both had been keynote speakers. Modi had lifted Altman and Pichai's hands before an applauding crowd, with others following suit. However, Altman and Amodei, who were next to each other, raised their fists instead of holding hands with one another. It comes as competition intensifies between ChatGPT maker OpenAI and Claude maker Anthropic, with both vying for their models to become the default choice for consumers globally. The companies have also recently traded shots over the potential use of adverts in AI models. The image of Altman and Amodei opting out of holding hands quickly made the rounds on social media. Siddharth Bhatia, cofounder of AI startup Puch AI, posted on X: "When AGI? The day Dario and Sam hold hands." Justine Moore, an investing partner at Andreesen Horowitz, shared a picture with the words: "When you're forced to do a group project with your opp." Last month, Anthropic released Super Bowl commercials that poked fun at OpenAI's plan to start testing ads for free users and ChatGPT Go subscribers in the U.S. Altman called the ads "clearly dishonest," saying: "I guess it's on brand for Anthropic doublespeak to use a deceptive ad to critique theoretical deceptive ads that aren't real, but a Super Bowl ad is not where I would expect it." Anthropic's chief customer officer, Paul Smith, later told CNBC that it was focused on growing its business rather than making "flashy headlines," in a veiled ...