Kevin Warsh, former governor of the US Federal Reserve, during the International Monetary Fund (IMF) and World Bank Spring meetings at the IMF headquarters in Washington, DC, US, on Friday, April 25, 2025. Tierney L. Cross | Bloomberg | Getty Images President Donald Trump on Wednesday officially nominated Kevin Warsh to be the next chairman of the Federal Reserve . Warsh, if confirmed by the Senat...
Kevin Warsh, former governor of the US Federal Reserve, during the International Monetary Fund (IMF) and World Bank Spring meetings at the IMF headquarters in Washington, DC, US, on Friday, April 25, 2025. Tierney L. Cross | Bloomberg | Getty Images President Donald Trump on Wednesday officially nominated Kevin Warsh to be the next chairman of the Federal Reserve . Warsh, if confirmed by the Senate, would replace Fed Chairman Jerome Powell , for a four-year term. Trump's nomination was transmitted to the Senate, the White House said in a statement posted online on Wednesday. That transmittal came more than a month after Trump first publicly announced he wanted Warsh as the Fed chairman . Sen. Thom Tillis , a North Carolina Republican, has said he would block Warsh's nomination from proceeding in the Senate until a federal criminal investigation of Powell by the U.S. Attorney's Office in Washington, D.C., is dropped. Read more CNBC politics coverage Iran war live updates: U.S. closes embassies in Saudi Arabia, Kuwait Five races to watch on the day the 2026 midterm elections kick off ‘Mistakes were made,’ Grassley tells Noem about Trump’s immigration crackdown Tillis' stance could prevent the nomination from being considered by the full Senate. Powell said in mid-January that he was under investigation in connection with the $2.5 billion renovation of the Federal Reserve's headquarters in Washington, and his testimony about that project to the Senate. The chair also said that "the threat of criminal charges" against him is directly due to him and other Fed governors refusing to bow to Trump and his demands that they cut interest rates more quickly than the president has demanded. Last summer, Trump tried to fire Fed Governo r Lisa Cook , who sided with Powell on interest rate decisions. Trump, at the time, cited an allegation by a housing official he had picked that Cook had committed mortgage fraud, but his move to terminate her was seen as motivated by his ire over ...
Andy Burnham has reignited hostilities with Keir Starmer’s Labour leadership, criticising what he described as the “bankruptcy” of the party’s approach to campaigning, a week after it lost the previously safe seat of Gorton and Denton. The mayor of Greater Manchester and former MP, regarded as a rival to Starmer, said Labour’s campaigning style prevented it from connecting with non-Labour voters a...
Andy Burnham has reignited hostilities with Keir Starmer’s Labour leadership, criticising what he described as the “bankruptcy” of the party’s approach to campaigning, a week after it lost the previously safe seat of Gorton and Denton. The mayor of Greater Manchester and former MP, regarded as a rival to Starmer, said Labour’s campaigning style prevented it from connecting with non-Labour voters and other progressive parties, as he evoked the system of clipboard-wielding canvassers going door to door with records of previous Labour supporters. “What I want to say today is that the time has most definitely come for a serious conversation about our political system and its pervading culture, particularly so in the aftermath of the Gorton and Denton byelection,” Burnham said in a speech at the British Library in London that reignited speculation he has not given up on replacing Starmer. “It revealed the full depth of the chasm between people and Westminster politics. I don’t think anybody can seriously dispute that statement.” Burnham was speaking a week on from Labour’s loss of its once safe seat in the Manchester constituency, after Starmer and his allies blocked him from standing to be the party’s candidate. Labour’s deputy leader and Burnham ally, Lucy Powell, has said he would have won the contest, in which the Green arty’s candidate, Hannah Spencer, was victorious. Labour came third, with Reform UK in second. Burnham described polling by More in Common that found a majority of people did not think the cost of living crisis would ever end as “code red for Westminster politics”. “This is getting extremely dangerous, and change in our political system and culture is desperately needed,” he added. The mayor answered a number of questions after the speech, which took place at an event organised by the Centre for Cities, but remained silent when Andrew Carter, the thinktank’s chief executive, said that a question about allegations of so-called “family voting” irregular...
Clearlake Capital Group Co-Founder & Managing Partner, José E. Feliciano and Goldman Sachs Global Co-Head of Capital Solutions, Mahesh Saireddy examine whether expanding liquidity strengthens or undermines private credit markets with Bloomberg’s Davide Scigliuzzo at Bloomberg Invest 2026 in New York. (Source: Bloomberg)
Clearlake Capital Group Co-Founder & Managing Partner, José E. Feliciano and Goldman Sachs Global Co-Head of Capital Solutions, Mahesh Saireddy examine whether expanding liquidity strengthens or undermines private credit markets with Bloomberg’s Davide Scigliuzzo at Bloomberg Invest 2026 in New York. (Source: Bloomberg)
Wizz Air Holdings Plc cut its annual profit guidance as the ongoing conflict in the Middle East forces the budget carrier to suspend flights and absorb the cost of higher fuel prices . The Hungary-based carrier expects the disruption to hit its net profit by €50 million ($58 million), according to a statement on Wednesday. The airline said guidance for fiscal 2026 will fall below its previous rang...
Wizz Air Holdings Plc cut its annual profit guidance as the ongoing conflict in the Middle East forces the budget carrier to suspend flights and absorb the cost of higher fuel prices . The Hungary-based carrier expects the disruption to hit its net profit by €50 million ($58 million), according to a statement on Wednesday. The airline said guidance for fiscal 2026 will fall below its previous range of anywhere from a gain of €25 million to a loss of €25 million. About one-third of the expected impact is because of the temporary suspension of flights into the region, Wizz said. “Our assessment of the impact of these macroeconomic factors is based on jet fuel and US dollar/euro rates as of today,” the carrier said. The Iran war is causing financial and logistical disruptions for airlines worldwide because of airspace closures across the Middle East since the weekend. Read More: Airline Troubles Compound as Flight Cancellations Surpass 20,000 On Tuesday, Wizz operated a repatriation flight for employees from Muscat, Oman, to Sofia, Bulgaria, it said.
Coinbase Global COIN is poised to transform cyclical crypto market recoveries into sustained market share gains through diversified revenue streams. Over the past seven years, total revenues have witnessed a compound annual growth rate of 45%. Continued expansion in digital assets and service revenues is expected to support top-line growth. Higher crypto asset prices and increased balances—particu...
Coinbase Global COIN is poised to transform cyclical crypto market recoveries into sustained market share gains through diversified revenue streams. Over the past seven years, total revenues have witnessed a compound annual growth rate of 45%. Continued expansion in digital assets and service revenues is expected to support top-line growth. Higher crypto asset prices and increased balances—particularly stronger on-platform USDC balances and market capitalization, along with higher average prices for assets such as Solana and Ethereum—are contributing to revenue expansion. Trading volume remains influenced by factors such as crypto asset prices, volatility, macroeconomic conditions and Coinbase’s share of total spot trading activity. The company continues to benefit from rising market participation and an increasing share of U.S. crypto trading. COIN’s revenue model is no longer solely dependent on transaction activity. While retail trading volumes still correlate with crypto price movements—especially in major assets like Bitcoin and Ethereum—the company has significantly expanded its subscription and services segment. Revenues from staking, custody, and stablecoin-related services have improved revenue stability and reduced earnings volatility, enabling Coinbase to continue investing in product innovation and geographic expansion even during market downturns. Additionally, Coinbase has broadened its platform by introducing stock and ETF trading for U.S. users, expanding its addressable market beyond digital assets and strengthening its position against diversified fintech brokerages. As global digital asset adoption accelerates, Coinbase’s strong brand, deep liquidity and regulatory alignment position it to capture growing retail and institutional demand, supporting long-term revenue and earnings growth. What About Its Peers? Amid macroeconomic uncertainty and market volatility, Robinhood Markets HOOD is expected to see improving transaction-based revenues, driven ...
Key Points Core Celsius growth slowed as the brand reached high domestic penetration. The acquisition of Alani Nu contributed significantly to the 117% year-over-year Q4 revenue jump. 10 stocks we like better than Celsius › Celsius Holdings (NASDAQ: CELH) has long been the darling of the beverage sector, but fourth-quarter 2025 results signal a changing of the guard. While the core Celsius brand s...
Key Points Core Celsius growth slowed as the brand reached high domestic penetration. The acquisition of Alani Nu contributed significantly to the 117% year-over-year Q4 revenue jump. 10 stocks we like better than Celsius › Celsius Holdings (NASDAQ: CELH) has long been the darling of the beverage sector, but fourth-quarter 2025 results signal a changing of the guard. While the core Celsius brand saw organic growth cool to 7.5% amid distribution shifts, the company's $2.5 billion revenue record was salvaged by its newest powerhouse: Alani Nu. Acquired to capture the wellness-focused demographic, Alani Nu exploded in late 2025, delivering over $1 billion in annual revenue. As we move into 2026, the "growth machine" label now belongs to this high-margin integration, proving that Celsius's future lies in its multi-brand platform strategy. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » *Stock prices used were end-of-day prices of Feb. 28, 2026. The video was published on March 4, 2026. Should you buy stock in Celsius right now? Before you buy stock in Celsius, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Celsius wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $526,889!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,103,743!* Now, it’s worth noting Stock Advisor’s total average return is 947% — a market-crushing outperformance compared to 192% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing c...
Store closures have become all too common worldwide due to economic uncertainty and a slowdown in consumer spending, making another wave of shutdowns feel routine. However, these most recent closures are unlike any others. Geopolitical tensions have been escalating, and several prominent retail ...
Store closures have become all too common worldwide due to economic uncertainty and a slowdown in consumer spending, making another wave of shutdowns feel routine. However, these most recent closures are unlike any others. Geopolitical tensions have been escalating, and several prominent retail ...
Maksym Isachenko/iStock via Getty Images Swedish miner Boliden ( BDNNY ) said Wednesday it is halting plans to spend ~ €1B ($1.16B) to expand its Kevitsa copper and nickel mine in Finland, affecting up to 285 employees as it prepares to adapt its operations at the site after a new mining tax was implemented in the country. "Due to the quadrupling of mining tax in Finland, Boliden Kevitsa has calle...
Maksym Isachenko/iStock via Getty Images Swedish miner Boliden ( BDNNY ) said Wednesday it is halting plans to spend ~ €1B ($1.16B) to expand its Kevitsa copper and nickel mine in Finland, affecting up to 285 employees as it prepares to adapt its operations at the site after a new mining tax was implemented in the country. "Due to the quadrupling of mining tax in Finland, Boliden Kevitsa has called for change negotiations to prepare to adopt the operations," the miner said. Finland introduced new mining taxes this year that have raised the tax on metal ores such as copper, nickel, and zinc to 2.5% of the taxable value of the metal contained in mined material, from 0.6% previously. "We believe mining of metals such as nickel and copper should be safeguarded in Europe through competitive long-term business conditions. Sadly, it appears that Finland has chosen a path that creates challenges for the capital-intensive mining industry," Boliden Kevitsa ( BDNNY ) general manager Tom Soderman said. More on Boliden Boliden Q4 2025 Earnings Call Presentation Boliden: A Very Successful Investment But Overvalued Now - Changing To 'Hold' Seeking Alpha’s Quant Rating on Boliden
Household energy bills could climb by £160 a year from this summer after the war in Iran pushed the UK’s gas market to a three-year high. A typical combined household gas and electricity bill could reach £1,800 a year in Great Britain under the government’s quarterly price cap from July, according to analysis by Cornwall Insight, an energy consultancy. It forecast a 10% surge in household energy c...
Household energy bills could climb by £160 a year from this summer after the war in Iran pushed the UK’s gas market to a three-year high. A typical combined household gas and electricity bill could reach £1,800 a year in Great Britain under the government’s quarterly price cap from July, according to analysis by Cornwall Insight, an energy consultancy. It forecast a 10% surge in household energy costs after prices on the UK’s gas market doubled in the days following the US-Israeli attack on Iran. Tehran has retaliated by halting oil and gas shipments through the strait of Hormuz. The unit cost of gas and electricity will remain steady over the coming months after the regulator, Ofgem, last month fixed household energy costs for the period from April to July at £1,641 a year. That represents a £117 cut from the January-March cap for millions of households but is lower than the £150 a year reduction the chancellor, Rachel Reeves, had promised in last year’s budget. Ofgem will recalculate the costs faced by energy suppliers for the next quarter, taking into account the recent rise in market prices. Motorists are already facing a hike of 2.5p a litre at the petrol pumps since Saturday, while diesel prices have climbed by more than 3p after the global oil benchmark rose above $81 a barrel. In the UK, energy markets have recorded some of the steepest price rises in the world because of the country’s heavy reliance on gas for electricity generation combined with limited gas storage capacity. Jonathan Brearley, the chief executive of Ofgem, told MPs on Wednesday that it was “genuinely too early to tell” how high energy bills may climb because it will depend on how long wholesale prices remain elevated. If the strait of Hormuz – through which about 20% of global oil supplies and about 20% of seaborne gas shipments pass – remains closed for a prolonged period it would create “significant upward pressure” on energy bills, Brearley said. He added that the UK was in a “significa...
Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. But finding a great growth stock is not easy at all. By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to signific...
Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. But finding a great growth stock is not easy at all. By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss. However, the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects, makes it pretty easy to find cutting-edge growth stocks. Our proprietary system currently recommends Construction Partners (ROAD) as one such stock. This company not only has a favorable Growth Score, but also carries a top Zacks Rank. Research shows that stocks carrying the best growth features consistently beat the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy). Here are three of the most important factors that make the stock of this road and highway construction company a great growth pick right now. Earnings Growth Earnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration. While the historical EPS growth rate for Construction Partners is 14.2%, investors should actually focus on the projected growth. The company's EPS is expected to grow 50.1% this year, crushing the industry average, which calls for EPS growth of 8.3%. Cash Flow Growth While cash is the lifeblood of any business, higher-than-average cash flow growth is more important and beneficial for growth-oriented companies than for mature...
Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. But finding a great growth stock is not easy at all. In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing i...
Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. But finding a great growth stock is not easy at all. In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end. However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects. Our proprietary system currently recommends Enova International (ENVA) as one such stock. This company not only has a favorable Growth Score, but also carries a top Zacks Rank. Research shows that stocks carrying the best growth features consistently beat the market. And for stocks that have a combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy), returns are even better. Here are three of the most important factors that make the stock of this online financial services company a great growth pick right now. Earnings Growth Arguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration. While the historical EPS growth rate for Enova International is 10.4%, investors should actually focus on the projected growth. The company's EPS is expected to grow 29.9% this year, crushing the industry average, which calls for EPS growth of 4.3%. Impressive Asset Utilization Ratio Growth investors often overlook asset utilization ratio, also known as sales-to-total-assets (S/TA) ratio, but it is an important feature of a real growth stock. This metric shows how efficiently a f...
Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. But finding a great growth stock is not easy at all. That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lea...
Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. But finding a great growth stock is not easy at all. That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss. However, the task of finding cutting-edge growth stocks is made easy with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects. Philip Morris (PM) is on the list of such stocks currently recommended by our proprietary system. In addition to a favorable Growth Score, it carries a top Zacks Rank. Studies have shown that stocks with the best growth features consistently outperform the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy). Here are three of the most important factors that make the stock of this seller of Marlboro and other cigarette brands a great growth pick right now. Earnings Growth Earnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration. While the historical EPS growth rate for Philip Morris is 3.9%, investors should actually focus on the projected growth. The company's EPS is expected to grow 5.9% this year, crushing the industry average, which calls for EPS growth of 3.2%. Cash Flow Growth While cash is the lifeblood of any business, higher-than-average cash flow growth is more important and beneficial for growth-oriented companies...
Greg Abel has already taken over as CEO of Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) , but the fourth-quarter trades, which were just released, were still under the leadership of legendary investor and previous CEO Warren Buffett. As he took leave, Buffett shuffled some of his positions, but he left his trio of favorite stocks with an overwhelmingly dominant spot in the portfolio. Apple (NASDAQ...
Greg Abel has already taken over as CEO of Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) , but the fourth-quarter trades, which were just released, were still under the leadership of legendary investor and previous CEO Warren Buffett. As he took leave, Buffett shuffled some of his positions, but he left his trio of favorite stocks with an overwhelmingly dominant spot in the portfolio. Apple (NASDAQ: AAPL) , which had ballooned to about 50% of the total equity portfolio a few years ago, is still the largest position, but it now sits at around 20%. American Express (NYSE: AXP) and Coca-Cola (NYSE: KO) are the two longest-held positions and haven't been sold at all, and they account for about 15% and 10%, respectively, of the $320 billion equity portfolio. Buffett has said that he would never sell these stocks , but that doesn't mean Abel will hold to that in his new position. However, these stocks have done very well for Berkshire Hathaway, and they still offer tremendous value for investors today. Continue reading
In this article TGT Follow your favorite stocks CREATE FREE ACCOUNT A sign hangs outside of a Target store on Feb. 10, 2026 in Chicago, Illinois. Scott Olson | Getty Images MINNEAPOLIS — Target customers will soon see changes on the retailer's shelves, as the company tries to woo back shoppers during a turnaround effort that has started to catch Wall Street's eye. Among those shifts, Target will a...
In this article TGT Follow your favorite stocks CREATE FREE ACCOUNT A sign hangs outside of a Target store on Feb. 10, 2026 in Chicago, Illinois. Scott Olson | Getty Images MINNEAPOLIS — Target customers will soon see changes on the retailer's shelves, as the company tries to woo back shoppers during a turnaround effort that has started to catch Wall Street's eye. Among those shifts, Target will add more fresh and trendy groceries, a dedicated display for higher-end makeup and a larger array of merchandise for sports fans. At the big-box retailer's Minneapolis headquarters on Tuesday, Target's merchandising leaders previewed the company's ambitious plans to overhaul key categories, including home and apparel, which have posted year over year sales declines. The company held an investor meeting to share its holiday-quarter results and its turnaround strategy for this year, which hinges in part on regaining its reputation for stylish and unique items. CEO Michael Fiddelke, a Target veteran who stepped into the top role on Feb. 1, told investors on Tuesday that the company is making changes that "don't happen overnight." But, he added, they include many tweaks that customers "will see and feel right away." "If I were to step back and draw a heat map of the entire store highlighting where we're making changes this year, you'd see more change to what we sell and how we sell it than you've seen in a decade," he said. watch now VIDEO 1:20 01:20 Target CEO Michael Fiddelke: We're going to invest more payroll into stores Squawk on the Street The success of Target's merchandise makeover will help determine whether the company meets its sales and earnings outlook for the current year and whether it can reverse four consecutive quarters of declining customer traffic. The company's revenue fell slightly in fiscal 2025 and has been stagnant for four years. Target said Tuesday that it expects net sales for the current fiscal year to rise about 2% compared with the previous year an...
pabradyphoto The stock market can weather a scenario with fewer or even no interest rate cuts this year, according to Bankim Chadha, chief U.S. equity and global strategist at Deutsche Bank. In an interview with CNBC, Chadha noted that market pricing has already adjusted to reflect expectations of minimal cuts, closely aligning with Deutsche Bank’s forecast of just one more cut this year. The stra...
pabradyphoto The stock market can weather a scenario with fewer or even no interest rate cuts this year, according to Bankim Chadha, chief U.S. equity and global strategist at Deutsche Bank. In an interview with CNBC, Chadha noted that market pricing has already adjusted to reflect expectations of minimal cuts, closely aligning with Deutsche Bank’s forecast of just one more cut this year. The strategist emphasized that the market’s stability hinges primarily on the strength of corporate earnings rather than Federal Reserve policy moves. Whether the Fed delivers one cut or two, Chadha argued it won’t significantly alter the market’s trajectory. “The real issue is just really earnings and whether they hold up, and we think they do,” he said. With little rate relief currently priced into markets, investors have shifted their focus to fundamentals rather than monetary policy expectations. Chadha pointed to robust earnings growth as a key support for equities, noting that corporate profits are expanding at an annual rate of approximately 15%. Because stock prices have remained range-bound while earnings have climbed, he observed that valuations have actually become more attractive. “Stocks are a little bit cheaper after three months,” he said, expressing a constructive outlook for markets three months out and beyond. The S&P 500 ( SP500 ) has maintained a trading range established back in December, even as investors have broadly reduced positioning across asset classes, including gold ( GLD ), ( IAU ), ( SGOL ), ( OUNZ ). This move toward neutral has triggered what Chadha described as a “swapping of the winners and the losers,” with software stocks ( IGPT ), ( XSW ), ( IGV ) and other previously out-of-favor sectors seeing a bounce. Economic indicators are providing additional support, with ISM manufacturing and services data looking “pretty good,” according to Chadha. He noted that an inflation scare appears to be receding based on the latest readings. “It would be the ...
Earnings Call Insights: Holley Inc. (HLLY) Q4 2025 Management View Matthew Stevenson, President, CEO & Director, highlighted that 2025 marked the first year since 2021 with full year net sales growth and adjusted EBITDA margins above 20%. Stevenson reported, "Our core business generated net sales growth in every quarter of 2025, culminating in double-digit growth in the fourth quarter, our stronge...
Earnings Call Insights: Holley Inc. (HLLY) Q4 2025 Management View Matthew Stevenson, President, CEO & Director, highlighted that 2025 marked the first year since 2021 with full year net sales growth and adjusted EBITDA margins above 20%. Stevenson reported, "Our core business generated net sales growth in every quarter of 2025, culminating in double-digit growth in the fourth quarter, our strongest performance of the year and clear evidence of the accelerating momentum as we enter 2026." He emphasized performance across all divisions and 22 key brands, with double-digit core net sales growth in Q4 and a balance between B2B and direct-to-consumer channels. Stevenson stated that Holley generated $34.2 million of free cash flow for the year and ended with net leverage below the target set at the beginning of 2025. He added, "We also prepaid an additional $10 million of debt in Q4, bringing total prepayments to $100 million since September of 2023." New product launches were noted as key, with approximately $23 million in new product sales for the year, including motorsports helmets and new power packages. Jesse Weaver, CFO & Head of Information Technology, stated, "We delivered 4 consecutive quarters of core business growth and returned to full year reported net sales growth for the first time since '21... We also strengthened the balance sheet, completing $25 million of debt prepayments in 2025 and surpassing $100 million in total prepayments in September of '23." Outlook Weaver outlined expectations of 2026 revenue in the range of $625 million to $655 million, indicating approximately 4% to 4.5% growth at the midpoint. Adjusted EBITDA guidance is set at $127 million to $137 million, representing approximately 6.5% growth at the midpoint. "As it relates to capital expenditures, we expect to invest between $15 million and $20 million this year, modestly above our historical range," Weaver explained. The company targets an incremental $5 million to $7 million in operat...