| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3.9B | $6.2B | $3.6B | -36.1% | 8.4% |
| Op. Income | $822M | $1.5B | $795M | -43.7% | 3.4% |
| Gross Margin | 20.9% | 43.6% | 45.3% | -22.7pp | -24.4pp |
| Net Margin | 8.0% | 12.0% | 5.6% | -4.0pp | 2.4pp |
| EPS (Diluted) | $0.58 | $1.37 | $0.38 | -57.7% | 52.6% |
| Free Cash Flow | $484M | $599M | $215M | -19.3% | 125.1% |
| Item | Amount |
|---|---|
| REVENUE | $3.9B |
| Cost of Revenue | $3.1B |
| GROSS PROFIT | $822M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $0 |
| Operating Expenses | $0 |
| Cost & Expenses | $3.1B |
| OPERATING INCOME | $822M |
| Interest Income | $718.9K |
| Interest Expense | $399M |
| Other Income/Expenses | -$351M |
| INCOME BEFORE TAX | $471M |
| Income Tax Expense | $124M |
| Net Income from Continuing Ops | $347M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $315M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $315M |
| D&A | $916M |
| EBIT | $822M |
| EBITDA | $1.7B |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $3.9B |
| Cost of Revenue | $3.1B |
| GROSS PROFIT | $822M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $0 |
| Operating Expenses | $0 |
| Cost & Expenses | $3.1B |
| OPERATING INCOME | $822M |
| Interest Income | $718.9K |
| Interest Expense | $399M |
| Other Income/Expenses | -$351M |
| INCOME BEFORE TAX | $471M |
| Income Tax Expense | $124M |
| Net Income from Continuing Ops | $347M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $315M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $315M |
| D&A | $916M |
| EBIT | $822M |
| EBITDA | $1.7B |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $321M |
| Depreciation & Amortization | $933M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$62M |
| Change in Working Capital | -$116M |
| OPERATING CASH FLOW | $1.1B |
| Capital Expenditure | -$592M |
| Acquisitions (Net) | -$147M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$84M |
| NET CASH FROM INVESTING | -$895M |
| Net Debt Issuance | $159M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$198M |
| Other Financing Activities | -$111M |
| NET CASH FROM FINANCING | -$149M |
| FREE CASH FLOW | $484M |
| Net Change in Cash | $18M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.0B |
| Short-Term Investments | $0 |
| Net Receivables | $4.3B |
| Inventory | $338M |
| Other Current Assets | $1.2B |
| TOTAL CURRENT ASSETS | $6.8B |
| PP&E (Net) | $19.2B |
| Goodwill | $14.7B |
| Intangible Assets | $21.2B |
| Long-Term Investments | $2.4B |
| Tax Assets | $0 |
| Other Non-Current Assets | $1.5B |
| TOTAL NON-CURRENT ASSETS | $59.1B |
| TOTAL ASSETS | $65.9B |
| Account Payables | $3.3B |
| Short-Term Debt | $5.5B |
| Deferred Revenue | $790M |
| Other Current Liabilities | $2.8B |
| TOTAL CURRENT LIABILITIES | $12.4B |
| Long-Term Debt | $25.5B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $7.0B |
| Other Non-Current Liabilities | $1.5B |
| TOTAL NON-CURRENT LIABILITIES | $35.7B |
| TOTAL LIABILITIES | $48.1B |
| Common Stock | $1.8B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $12.2B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$884M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $13.2B |
| Minority Interest | $4.7B |
| TOTAL EQUITY | $17.8B |
| TOTAL LIABILITIES & EQUITY | $65.9B |
| Total Debt | $32.8B |
| Net Debt | $31.8B |
