Know What's Happening in Finance
Know What's Happening in Finance
Klarna secures $1.7B risk transfer and $2B funding facility to boost lending
Klarna unveiled a $2 billion forward‑flow facility with Elliott Investment Management that will back up to $17 billion of U.S. loan originations over the next three years. It also completed a €1.7 billion Significant Risk Transfer led by Värde Partners, freeing capital for broader lending.
Also developing:
Broadstone Net Lease reported 2025 AFFO per share of $1.49, a 4.2% increase year‑over‑year, while maintaining a 99% leased portfolio with 99.8% rent collection. The company deployed $748.4 million of capital, emphasizing build‑to‑suit projects—nine in‑process developments representing $345 million—and shifting 2026 investment volume toward development. Management reiterated 2026 AFFO guidance of $1.53‑$1.57 per share and set a $500‑$625 million investment target with modest disposition plans. Tenant risks such as Red Lobster exposure and the American Signature bankruptcy were addressed, with no bad‑debt impact.
OneSpaWorld Holdings Ltd reported record Q4 2025 results, with total revenue of $242.1 million, an 11% year‑over‑year increase, and adjusted EBITDA rising to $31.2 million. Net income slipped to $12.1 million because of $5.7 million in restructuring and impairment charges tied to exiting Asian...
Molson Coors reported over $1.1 billion free cash flow for 2025 and expects a similar amount in 2026. The company launched a three‑year, $450 million cost‑savings initiative and doubled its share‑repurchase authorization to $4 billion, extending the program to 2031. Net debt fell...
Corebridge Financial reported a strong fourth‑quarter 2025, posting adjusted pretax operating income of $760 million and operating EPS of $1.22, a 15% year‑over‑year increase. Total sales reached a record $42 billion, up 4%, while the company returned $2.6 billion to shareholders, lifting the...
CVR Energy reported a Q4 2025 net loss of $10 million and EBITDA of $20 million, with full‑year EBITDA of $211 million. Ammonia plant utilization fell to 64% due to a Coffeyville turnaround and air‑separation unit issues, while UAN and ammonia prices rose...
Verisk Analytics reported Q4 2025 GAAP revenue of $779 million, up 5.9%, while GAAP net income fell 6.2% to $197 million due to early debt‑extinguishment costs and the absence of prior‑year investment gains. Subscription revenue, which now represents 84% of total sales,...
Vita Coco reported Q4 2025 net sales of $610 million, an 18% year‑over‑year increase, propelled by a 26% surge in its coconut‑water brand. Gross profit rose to $223 million, but gross margin slipped to 37% as higher product costs and tariffs offset...
Coca‑Cola Consolidated reported Q4 2025 organic revenue growth of 5% and a comparable EPS of $0.58, a 6% year‑over‑year increase, despite a 5‑point currency headwind. The company generated $11.4 billion in free cash flow, lifted North America operating margin to 30%,...
Medallion Financial Corp reported a record $2.567 billion loan portfolio for Q4 2025, up 3% year‑over‑year, driven by strong recreation, home‑improvement and commercial originations. Net interest income climbed 8% to $56.4 million, pushing quarterly net income to $12.2 million ($0.50 per share). The company...
Crane reported adjusted EPS of $1.64 for Q4 2025, driven by 5.6% core sales growth and strong performance in its Aerospace & Electronics segment. The company raised its full‑year adjusted EPS guidance to $5.75‑$5.95, implying roughly 20% earnings growth at...
Invitation Homes reported full‑year same‑store NOI growth of 2.3%, surpassing the midpoint of its guidance, while maintaining 96.8% occupancy and a low 22.8% turnover rate. Core FFO rose to $1.91 per share and AFFO to $1.63 per share, reflecting modest...
Farmland Partners Inc. reported Q4 2025 adjusted funds from operations (AFFO) of $2.9 million, or $0.07 per share, and year‑to‑date AFFO of $6.5 million, driven by lower debt costs, higher loan‑program income, and a $24.5 million net gain from selling 35 properties. Management...
ConocoPhillips posted Q4 2025 production of 2.32 million barrels of oil equivalent per day, matching guidance, and generated $1.02 adjusted earnings per share. Operating cash flow reached $4.3 billion while capital spending was $3 billion, leading to $9 billion returned to shareholders—45% of cash...
Constellium SE reported a strong fourth‑quarter 2025, with revenue of $2.2 billion, up 28% year‑over‑year, and shipments rising 11% to 365,000 tonnes. Adjusted EBITDA, excluding the non‑cash metal‑price lag, hit a record $213 million, while net income turned positive at $113 million, reversing a...
Martin Marietta Materials reported record Q4 and full‑year 2025 results, with aggregates revenue rising 8% to $1.2 billion and gross profit per ton climbing 9% to $8.59. Full‑year building‑materials revenue reached $5.7 billion, gross margin expanded 173 basis points to 31%, and...
W.P. Carey reported a 5.7% year‑over‑year increase in AFFO per share to $4.97, topping the midpoint of its guidance. The REIT completed a record $2.1 billion of 2025 investments, heavily weighted toward industrial and retail assets, while generating attractive 150‑basis‑point spreads...
Eldorado Gold reported 2025 gold production of 488,268 ounces, hitting the top of its guidance, and generated $1.8 billion in revenue with $743 million operating cash flow. Net earnings rose to $520 million ($2.56 per share) despite higher royalties and production costs. The...
Prologis reported fourth‑quarter 2025 core FFO of $1.44 per share, hitting the top of its guidance range, while occupancy climbed to 95.8% at period end and averaged 95.3% for the quarter. The company signed 57 million square feet of leases, retaining...
PROG Holdings reported a 12.1% rise in consolidated GMV for 2025, driven by a 144% surge in its For platform that generated roughly $730 million. Progressive Leasing GMV declined 8.6% after the Big Lots bankruptcy and tighter underwriting, yet the segment kept...
EnPro Industries reported a strong Q4 2025, with revenue up 14.3% to $295.4 million and organic sales rising about 10%. Adjusted EBITDA increased 19.2% to $69.4 million, lifting the margin to 23.5%, while adjusted diluted EPS reached $1.99, a 27% increase. Both...
American States Water Company reported GAAP earnings per share of $0.87 for Q2 2025, a $0.02 increase year‑over‑year, driven by newly approved water and electric rates. The water segment posted EPS of $0.73 and the electric segment $0.03, while operating...
Asian ultra‑high‑net‑worth individuals (UHNWIs) confront heightened market volatility in 2026, driven by geopolitical tensions and macro‑economic uncertainty. The turbulence is prompting a reassessment of traditional passive approaches. The article recommends active management strategies to navigate these risks and preserve wealth....
Royal Gold reported record 2025 results, with annual revenue of $1 billion, a 43% increase, and operating cash flow of $705 million. The company completed major acquisitions of Sandstorm Gold and Horizon Copper, expanding its portfolio to roughly 80 producing and 30...
Moody's Corp reported a record $7.7 billion total revenue for 2025, up 9% year‑over‑year, with equal growth in its Ratings and Analytics segments. Adjusted operating margin expanded to 51.1%, a 300‑basis‑point increase, while adjusted diluted EPS rose 20% to $14.94, marking...
Host Hotels & Resorts reported FY 2025 adjusted EBITDA of $1.757 billion, a 4.6% increase, and adjusted FFO of $2.07 per share, both surpassing guidance. Comparable hotel RevPAR rose 4.2% for the year and 5.4% in Q4, outpacing the upper‑tier industry...
Nextdoor reported Q4 2025 revenue of $69 million, a 7% YoY increase and the highest quarterly revenue in its history. Adjusted EBITDA reached $8 million, delivering an 11% margin and marking the company’s strongest profitability quarter. Self‑serve advertising grew 32% YoY, now...
Omnicom Group announced a post‑IPG acquisition restructuring aimed at delivering $1.5 billion of run‑rate synergies, doubling its original target, with $900 million expected in 2026. The company retained a $23.1 billion revenue base, achieving roughly 4% organic growth while planning to divest $2.5 billion...
Jones Lang LaSalle (JLL) posted record 2025 results, with revenue rising 11% to an all‑time high and adjusted EBITDA climbing 22% to $1.45 billion. Fourth‑quarter leasing revenue surged 17%, led by a 26% jump in office leasing, while free cash flow...
Gladstone Commercial Corp reported a strong Q4 2025, highlighted by $260 million of industrial acquisitions at an 8.88% cap rate and a rise in industrial rent share to 69% of annualized straight‑line rent. The company expanded its syndicated credit facility to...
Nordson Corp reported a record first‑quarter revenue of $669 million, a 9% year‑over‑year increase driven by 7% organic growth, especially in its Advanced Technology Solutions (ATS) segment. Adjusted earnings per share rose 15% to $2.37, beating guidance, while EBITDA reached $203 million...
American Water reported adjusted earnings of $5.64 per share for 2025, an 8.9% increase year‑over‑year, and affirmed 2026 EPS guidance of $6.02‑$6.12. The utility deployed roughly $3.2 billion in capital projects, emphasizing pipe replacement, treatment upgrades, PFAS remediation, lead line removal...
TrueBlue Inc. reported Q4 2025 revenue of $418 million, an 8% increase that hit the top of its outlook range, driven by 5% organic growth and a 3‑point boost from the HSB acquisition. Gross margin slipped to 21.5% from 26.6% as...
The Cheesecake Factory reported Q4 2025 revenue of $961.6 million, including $17.3 million from gift‑card breakage, and adjusted diluted EPS of $1, meeting the top end of its outlook. Comparable sales fell 2.2% at the flagship Cheesecake Factory and 4% at North...
Western Midstream Partners highlighted a disciplined capital strategy, cutting 2026 capex to $150 million—a 40% drop from 2025—and targeting under $75 million in 2027‑28. The company underscored that roughly 95% of 2026 revenue is shielded by minimum volume commitments, delivering predictable cash...
Seven Hills Realty Trust reported Q4 2025 distributable earnings of $0.28 per share, reflecting a $0.03 dilution from its December rights offering that raised $61.5 million. The loan portfolio expanded 13% to $724.5 million across 24 floating‑rate first‑mortgage loans, maintaining a 7.92%...
Community Health Systems reported a 2.1% year‑over‑year increase in same‑store net revenue for Q4 2025, driven by rate growth and higher acuity, while adjusted EBITDA reached $395 million with a 12.7% margin. The company continued its aggressive deleveraging, cutting net leverage...
MFA Financial reported Q4 2025 GAAP net income of $54.3 million ($0.42 per share) and a full‑year economic return of roughly 9%. The REIT acquired $1.9 billion of loans and securities, notably expanding its Agency MBS book by 50% to $3.3 billion and adding...
Mister Car Wash reported Q3 2025 revenue of $263 million, a 6% year‑over‑year increase, and adjusted EBITDA of $87 million, up 10% to a record 32.9% margin. Membership growth drove the results, with the Unlimited Wash Club reaching 2.2 million members and the...
Analog Devices reported Q1 2026 revenue of $3.16 billion, a 30% year‑over‑year increase and near the top of its guidance range. Industrial sales accounted for 47% of revenue, rising 38% YoY, while communications surged 63% YoY on strong data‑center demand. Gross...
Openlane Inc. posted Q4 2025 revenue of $494 million, up 9% year‑over‑year, and adjusted EBITDA of $76 million, a 5% increase. Dealer‑to‑dealer volumes accelerated above 20% in the quarter, while GMV rose 8% to $7.1 billion. The company repurchased more than half of...
Booking Holdings reported a 9% year‑over‑year increase in room nights to 285 million in Q4 2025, pushing gross bookings and revenue up 16% (11% on a constant‑currency basis). Adjusted EBITDA rose 19% to $2.2 billion and adjusted EPS grew 17% to $48.8,...
ICMA has published an open‑access guide to South Africa’s repurchase (repo) market, the ninth edition in its global series of market‑specific manuals. The guide outlines the market’s structure, collateral types, counterparties, infrastructure, and the legal‑regulatory framework. Funding came from Strate’s...
Avis Budget Group reported full‑year adjusted EBITDA of $748 million, missing its $900 million target by about $150 million, with the shortfall confined to the Americas segment. The company recorded a $500 million impairment on its electric‑vehicle fleet and generated $180 million in cash by...
Kadant reported record Q4 2025 revenue of $286 million, an 11% increase driven primarily by acquisitions and a stronger aftermarket parts mix that now represents 71% of total sales. Adjusted EBITDA rose 11% to $58 million, maintaining a 20.3% margin, while adjusted...
Nutrien reported adjusted EBITDA of $6.05 billion for 2025, a 13% increase, driven by record fertilizer sales of 27.5 million tonnes and disciplined cost management. Potash automation reached 49%, keeping controllable cash costs at $58 per tonne, while nitrogen volumes rose to...
Kalshi, a CFTC‑approved designated contract market, operates a quote‑driven prediction platform where makers post offers and takers accept them. An analysis of over 300,000 contracts shows that prices generally track event probabilities but suffer a pronounced favourite‑longshot bias, with cheap...
Blue Owl Capital Corp completed a $400 million loan sale at 99.7% of book value within a $1.4 billion syndicated asset transaction, confirming the fairness of its NAV marks. The firm repurchased $148 million of stock at a 14% discount to NAV, the...
Solstice Advanced Materials, newly independent after its October 2025 spin‑off from Honeywell, posted full‑year 2025 net sales of $3.9 billion, up 3% YoY (6% excluding opportunistic nuclear sales). Fourth‑quarter revenue rose 8% to $987 million, but adjusted EBITDA fell 20% to $189 million...
OGE Energy Corp reported 2025 consolidated earnings per share of $2.32, hitting the top of its guidance range, and set 2026 EPS guidance at $2.43 with a 5‑7% long‑term growth target. Net income rose to $471 million, while the company announced...
Wyndham Hotels & Resorts reported 4% net room growth in 2025, adding a record 72,000 rooms and expanding its development pipeline to nearly 260,000 rooms across 2,200 hotels. Adjusted EBITDA rose 4% to $718 million and adjusted diluted EPS increased 6%...
