| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3.6B | $3.9B | $3.5B | -7.9% | 3.6% |
| Op. Income | $233M | $298M | $249M | -21.6% | -6.3% |
| Gross Margin | 32.7% | 25.6% | 36.2% | 7.1pp | -3.5pp |
| Net Margin | 4.6% | 5.8% | 5.2% | -1.3pp | -0.6pp |
| EPS (Diluted) | $0.31 | $0.43 | $0.34 | -27.9% | -8.8% |
| Free Cash Flow | -$80M | $59M | $75M | -235.3% | -206.3% |
| Item | Amount |
|---|---|
| REVENUE | $3.6B |
| Cost of Revenue | $2.4B |
| GROSS PROFIT | $1.2B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $941M |
| Other Expenses | $0 |
| Operating Expenses | $941M |
| Cost & Expenses | $3.4B |
| OPERATING INCOME | $233M |
| Interest Income | $0 |
| Interest Expense | $19M |
| Other Income/Expenses | -$19M |
| INCOME BEFORE TAX | $214M |
| Income Tax Expense | $50M |
| Net Income from Continuing Ops | $165M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $165M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $165M |
| D&A | $127M |
| EBIT | $233M |
| EBITDA | $360M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $3.6B |
| Cost of Revenue | $2.4B |
| GROSS PROFIT | $1.2B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $941M |
| Other Expenses | $0 |
| Operating Expenses | $941M |
| Cost & Expenses | $3.4B |
| OPERATING INCOME | $233M |
| Interest Income | $0 |
| Interest Expense | $19M |
| Other Income/Expenses | -$19M |
| INCOME BEFORE TAX | $214M |
| Income Tax Expense | $50M |
| Net Income from Continuing Ops | $165M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $165M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $165M |
| D&A | $127M |
| EBIT | $233M |
| EBITDA | $360M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $165M |
| Depreciation & Amortization | $127M |
| Stock-Based Compensation | $18M |
| Deferred Income Tax | $24M |
| Other Non-Cash Items | -$23M |
| Change in Working Capital | -$218M |
| OPERATING CASH FLOW | $91M |
| Capital Expenditure | -$171M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$171M |
| Net Debt Issuance | $360M |
| Common Stock Repurchased | -$118M |
| Common Dividends Paid | -$126M |
| Other Financing Activities | -$15M |
| NET CASH FROM FINANCING | $110M |
| FREE CASH FLOW | -$80M |
| Net Change in Cash | $30M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $224M |
| Short-Term Investments | $0 |
| Net Receivables | $11M |
| Inventory | $3.6B |
| Other Current Assets | $222M |
| TOTAL CURRENT ASSETS | $4.0B |
| PP&E (Net) | $7.2B |
| Goodwill | $398M |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $58M |
| TOTAL NON-CURRENT ASSETS | $7.6B |
| TOTAL ASSETS | $11.7B |
| Account Payables | $1.8B |
| Short-Term Debt | $462M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $707M |
| TOTAL CURRENT LIABILITIES | $2.9B |
| Long-Term Debt | $5.9B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $113M |
| Other Non-Current Liabilities | $159M |
| TOTAL NON-CURRENT LIABILITIES | $6.2B |
| TOTAL LIABILITIES | $9.1B |
| Common Stock | $7M |
| Additional Paid-In Capital | $1.5B |
| Retained Earnings | $7.6B |
| Treasury Stock | -$6.5B |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.5B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.5B |
| TOTAL LIABILITIES & EQUITY | $11.7B |
| Total Debt | $6.4B |
| Net Debt | $6.2B |
