| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.2B | $1.3B | $1.5B | -10.9% | -19.6% |
| Op. Income | $89M | $171M | $265M | -47.7% | -66.3% |
| Gross Margin | 10.4% | 14.9% | 21.3% | -4.5pp | -10.9pp |
| Net Margin | 7.2% | 9.9% | 14.5% | -2.7pp | -7.3pp |
| EPS (Diluted) | $1.49 | $2.26 | $3.43 | -34.1% | -56.6% |
| Free Cash Flow | $113M | $228M | $265M | -50.2% | -57.1% |
| Item | Amount |
|---|---|
| REVENUE | $1.2B |
| Cost of Revenue | $1.0B |
| GROSS PROFIT | $121M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $34M |
| SG&A Expenses | $34M |
| Other Expenses | -$2M |
| Operating Expenses | $32M |
| Cost & Expenses | $1.1B |
| OPERATING INCOME | $89M |
| Interest Income | $0 |
| Interest Expense | $27M |
| Other Income/Expenses | $26M |
| INCOME BEFORE TAX | $116M |
| Income Tax Expense | $31M |
| Net Income from Continuing Ops | $84M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $84M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $84M |
| D&A | $368M |
| EBIT | $143M |
| EBITDA | $511M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $1.2B |
| Cost of Revenue | $1.0B |
| GROSS PROFIT | $121M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $34M |
| SG&A Expenses | $34M |
| Other Expenses | -$2M |
| Operating Expenses | $32M |
| Cost & Expenses | $1.1B |
| OPERATING INCOME | $89M |
| Interest Income | $0 |
| Interest Expense | $27M |
| Other Income/Expenses | $26M |
| INCOME BEFORE TAX | $116M |
| Income Tax Expense | $31M |
| Net Income from Continuing Ops | $84M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $84M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $84M |
| D&A | $368M |
| EBIT | $143M |
| EBITDA | $511M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $84M |
| Depreciation & Amortization | $368M |
| Stock-Based Compensation | $6M |
| Deferred Income Tax | $19M |
| Other Non-Cash Items | -$53M |
| Change in Working Capital | -$8M |
| OPERATING CASH FLOW | $417M |
| Capital Expenditure | -$303M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$767M |
| NET CASH FROM INVESTING | -$767M |
| Net Debt Issuance | -$9M |
| Common Stock Repurchased | -$7M |
| Common Dividends Paid | -$74M |
| Other Financing Activities | $1M |
| NET CASH FROM FINANCING | -$89M |
| FREE CASH FLOW | $113M |
| Net Change in Cash | -$440M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $190M |
| Short-Term Investments | $0 |
| Net Receivables | $1.1B |
| Inventory | $116M |
| Other Current Assets | $82M |
| TOTAL CURRENT ASSETS | $1.5B |
| PP&E (Net) | $11.4B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $128M |
| Tax Assets | $312M |
| Other Non-Current Assets | $53M |
| TOTAL NON-CURRENT ASSETS | $11.8B |
| TOTAL ASSETS | $13.4B |
| Account Payables | $42M |
| Short-Term Debt | $17M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $774M |
| TOTAL CURRENT LIABILITIES | $1.5B |
| Long-Term Debt | $1.5B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $1.9B |
| Other Non-Current Liabilities | $434M |
| TOTAL NON-CURRENT LIABILITIES | $3.9B |
| TOTAL LIABILITIES | $5.3B |
| Common Stock | $675.0K |
| Additional Paid-In Capital | $7.3B |
| Retained Earnings | $2.0B |
| Treasury Stock | -$1.3B |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $8.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $8.1B |
| TOTAL LIABILITIES & EQUITY | $13.4B |
| Total Debt | $1.5B |
| Net Debt | $1.3B |
