| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $848M | $915M | $978M | -7.3% | -13.3% |
| Op. Income | $212M | $306M | $360M | -30.6% | -41.0% |
| Gross Margin | 258.4% | 35.1% | 42.0% | 223.3pp | 216.4pp |
| Net Margin | 22.7% | 19.3% | 21.9% | 3.4pp | 0.8pp |
| EPS (Diluted) | $1.55 | $1.42 | $1.71 | 9.2% | -9.4% |
| Free Cash Flow | -$114M | $159M | $59M | -171.7% | -294.1% |
| Item | Amount |
|---|---|
| REVENUE | $848M |
| Cost of Revenue | -$1.3B |
| GROSS PROFIT | $2.2B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $34M |
| SG&A Expenses | $34M |
| Other Expenses | $1.9B |
| Operating Expenses | $2.0B |
| Cost & Expenses | $636M |
| OPERATING INCOME | $212M |
| Interest Income | $0 |
| Interest Expense | $55M |
| Other Income/Expenses | -$23M |
| INCOME BEFORE TAX | $190M |
| Income Tax Expense | -$26M |
| Net Income from Continuing Ops | $216M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $193M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $193M |
| D&A | $306M |
| EBIT | $245M |
| EBITDA | $550M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $848M |
| Cost of Revenue | -$1.3B |
| GROSS PROFIT | $2.2B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $34M |
| SG&A Expenses | $34M |
| Other Expenses | $1.9B |
| Operating Expenses | $2.0B |
| Cost & Expenses | $636M |
| OPERATING INCOME | $212M |
| Interest Income | $0 |
| Interest Expense | $55M |
| Other Income/Expenses | -$23M |
| INCOME BEFORE TAX | $190M |
| Income Tax Expense | -$26M |
| Net Income from Continuing Ops | $216M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $193M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $193M |
| D&A | $306M |
| EBIT | $245M |
| EBITDA | $550M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $193M |
| Depreciation & Amortization | $306M |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | -$26M |
| Other Non-Cash Items | -$168.0K |
| Change in Working Capital | -$938.0K |
| OPERATING CASH FLOW | $474M |
| Capital Expenditure | -$588M |
| Acquisitions (Net) | $3M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$3M |
| NET CASH FROM INVESTING | -$588M |
| Net Debt Issuance | $179M |
| Common Stock Repurchased | -$5M |
| Common Dividends Paid | -$46M |
| Other Financing Activities | -$31M |
| NET CASH FROM FINANCING | $97M |
| FREE CASH FLOW | -$114M |
| Net Change in Cash | -$17M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $79M |
| Short-Term Investments | $0 |
| Net Receivables | $530M |
| Inventory | $44M |
| Other Current Assets | $163M |
| TOTAL CURRENT ASSETS | $817M |
| PP&E (Net) | $10.9B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $162M |
| Other Non-Current Assets | $24M |
| TOTAL NON-CURRENT ASSETS | $11.1B |
| TOTAL ASSETS | $11.9B |
| Account Payables | $179M |
| Short-Term Debt | $66M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $786M |
| TOTAL CURRENT LIABILITIES | $1.0B |
| Long-Term Debt | $3.4B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $1.2B |
| Other Non-Current Liabilities | $185M |
| TOTAL NON-CURRENT LIABILITIES | $4.8B |
| TOTAL LIABILITIES | $5.9B |
| Common Stock | $1M |
| Additional Paid-In Capital | $2.5B |
| Retained Earnings | $3.2B |
| Treasury Stock | -$5M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $5.7B |
| Minority Interest | $339M |
| TOTAL EQUITY | $6.0B |
| TOTAL LIABILITIES & EQUITY | $11.9B |
| Total Debt | $3.5B |
| Net Debt | $3.5B |
