| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.5B | $1.5B | $1.3B | -4.2% | 14.4% |
| Op. Income | $156M | $351M | $175M | -55.7% | -11.0% |
| Gross Margin | 16.6% | 44.1% | 37.0% | -27.5pp | -20.4pp |
| Net Margin | 4.3% | 11.7% | 9.8% | -7.4pp | -5.5pp |
| EPS (Diluted) | $0.16 | $0.56 | $0.38 | -71.1% | -57.7% |
| Free Cash Flow | -$551M | -$40M | -$171M | -1269.8% | -222.0% |
| Item | Amount |
|---|---|
| REVENUE | $1.5B |
| Cost of Revenue | $1.2B |
| GROSS PROFIT | $245M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $89M |
| Operating Expenses | $89M |
| Cost & Expenses | $1.3B |
| OPERATING INCOME | $156M |
| Interest Income | $7M |
| Interest Expense | $196M |
| Other Income/Expenses | -$118M |
| INCOME BEFORE TAX | $38M |
| Income Tax Expense | -$26M |
| Net Income from Continuing Ops | $64M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $64M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $50M |
| D&A | $245M |
| EBIT | $234M |
| EBITDA | $478M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $1.5B |
| Cost of Revenue | $1.2B |
| GROSS PROFIT | $245M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $89M |
| Operating Expenses | $89M |
| Cost & Expenses | $1.3B |
| OPERATING INCOME | $156M |
| Interest Income | $7M |
| Interest Expense | $196M |
| Other Income/Expenses | -$118M |
| INCOME BEFORE TAX | $38M |
| Income Tax Expense | -$26M |
| Net Income from Continuing Ops | $64M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $64M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $50M |
| D&A | $245M |
| EBIT | $234M |
| EBITDA | $478M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $64M |
| Depreciation & Amortization | $245M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$35M |
| Other Non-Cash Items | $156M |
| Change in Working Capital | -$274M |
| OPERATING CASH FLOW | $155M |
| Capital Expenditure | -$705M |
| Acquisitions (Net) | $730.2K |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $730.2K |
| NET CASH FROM INVESTING | -$704M |
| Net Debt Issuance | $783M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$112M |
| Other Financing Activities | -$6M |
| NET CASH FROM FINANCING | $657M |
| FREE CASH FLOW | -$551M |
| Net Change in Cash | $104M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $267M |
| Short-Term Investments | $0 |
| Net Receivables | $1.4B |
| Inventory | $599M |
| Other Current Assets | $841M |
| TOTAL CURRENT ASSETS | $3.2B |
| PP&E (Net) | $20.0B |
| Goodwill | $4.1B |
| Intangible Assets | $0 |
| Long-Term Investments | $911M |
| Tax Assets | $307M |
| Other Non-Current Assets | $4.2B |
| TOTAL NON-CURRENT ASSETS | $29.5B |
| TOTAL ASSETS | $32.7B |
| Account Payables | $1.4B |
| Short-Term Debt | $2.2B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $1.2B |
| TOTAL CURRENT LIABILITIES | $4.8B |
| Long-Term Debt | $13.5B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $1.8B |
| Other Non-Current Liabilities | $2.7B |
| TOTAL NON-CURRENT LIABILITIES | $18.1B |
| TOTAL LIABILITIES | $22.9B |
| Common Stock | $6.9B |
| Additional Paid-In Capital | $63M |
| Retained Earnings | $1.2B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $637M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $9.8B |
| Minority Interest | $10M |
| TOTAL EQUITY | $9.8B |
| TOTAL LIABILITIES & EQUITY | $32.7B |
| Total Debt | $15.8B |
| Net Debt | $15.5B |
