| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $5.4B | $5.7B | $5.4B | -4.5% | -0.3% |
| Op. Income | $679M | $746M | $431M | -9.0% | 57.5% |
| Gross Margin | 14.6% | 16.4% | 16.2% | -1.8pp | -1.6pp |
| Net Margin | 8.5% | 10.4% | 3.8% | -1.9pp | 4.8pp |
| EPS (Diluted) | $0.55 | $0.70 | $0.24 | -21.4% | 129.2% |
| Free Cash Flow | $81M | $828M | $75M | -90.2% | 8.0% |
| Item | Amount |
|---|---|
| REVENUE | $5.4B |
| Cost of Revenue | $4.6B |
| GROSS PROFIT | $790M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $69M |
| SG&A Expenses | $69M |
| Other Expenses | $42M |
| Operating Expenses | $111M |
| Cost & Expenses | $4.7B |
| OPERATING INCOME | $679M |
| Interest Income | $0 |
| Interest Expense | $82M |
| Other Income/Expenses | -$110M |
| INCOME BEFORE TAX | $569M |
| Income Tax Expense | $105M |
| Net Income from Continuing Ops | $464M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $461M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $461M |
| D&A | $0 |
| EBIT | $679M |
| EBITDA | $679M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $5.4B |
| Cost of Revenue | $4.6B |
| GROSS PROFIT | $790M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $69M |
| SG&A Expenses | $69M |
| Other Expenses | $42M |
| Operating Expenses | $111M |
| Cost & Expenses | $4.7B |
| OPERATING INCOME | $679M |
| Interest Income | $0 |
| Interest Expense | $82M |
| Other Income/Expenses | -$110M |
| INCOME BEFORE TAX | $569M |
| Income Tax Expense | $105M |
| Net Income from Continuing Ops | $464M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $461M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $461M |
| D&A | $0 |
| EBIT | $679M |
| EBITDA | $679M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $464M |
| Depreciation & Amortization | $295M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $0 |
| Change in Working Capital | -$486M |
| OPERATING CASH FLOW | $273M |
| Capital Expenditure | -$192M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$2M |
| Sales/Maturities of Investments | $27M |
| Other Investing Activities | -$76M |
| NET CASH FROM INVESTING | -$243M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$100M |
| Common Dividends Paid | -$142M |
| Other Financing Activities | $5M |
| NET CASH FROM FINANCING | -$237M |
| FREE CASH FLOW | $81M |
| Net Change in Cash | -$203M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2.0B |
| Short-Term Investments | $0 |
| Net Receivables | $5.2B |
| Inventory | $3.0B |
| Other Current Assets | $1.3B |
| TOTAL CURRENT ASSETS | $11.5B |
| PP&E (Net) | $6.1B |
| Goodwill | $3.0B |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $2.3B |
| Other Non-Current Assets | $2.2B |
| TOTAL NON-CURRENT ASSETS | $13.6B |
| TOTAL ASSETS | $25.1B |
| Account Payables | $3.2B |
| Short-Term Debt | $333M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $2.0B |
| TOTAL CURRENT LIABILITIES | $5.5B |
| Long-Term Debt | $7.1B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1.0B |
| TOTAL NON-CURRENT LIABILITIES | $8.8B |
| TOTAL LIABILITIES | $14.3B |
| Common Stock | $0 |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $10.8B |
| TOTAL STOCKHOLDERS' EQUITY | $10.8B |
| Minority Interest | $45M |
| TOTAL EQUITY | $10.9B |
| TOTAL LIABILITIES & EQUITY | $25.1B |
| Total Debt | $8.1B |
| Net Debt | $6.1B |
