Heading into earnings, data shows that Celsius is gaining market share and competing with traditional soda brands like PepsiCo and Coca-Cola as more people lean into energy and lifestyle drinks.
Nvidia CEO Jensen Huang said he is confident Big Tech's nearly $700 billion AI capital spending boom will continue as "compute equals revenues," highlighting strong demand visibility into 2027 alongside the company's 73% revenue surge and upbeat first-quarter outlook.
Pediatrix Medical Group’s fourth quarter was marked by a negative market reaction, driven by a combination of lower-than-expected non-GAAP earnings and year-on-year revenue declines. Management attributed the softer results primarily to a decrease in net patient volumes across all service lines, with Chief Financial Officer Kasandra H. Rossi citing "a tough comp" from the prior year as a key factor. Despite these volume pressures, Pediatrix was able to partially offset the impact through favorable payer mix, improved revenue cycle management collections, and higher patient acuity in neonatology, resulting in a notable increase in operating margin compared to the previous year.
Lemonade's fourth quarter was marked by significant top-line acceleration and operational progress, though the market responded negatively to the results. Management credited rapid growth in in-force premium, improved marketing efficiency, and the scaling of pet, car, and European businesses as the primary drivers of performance. CEO Daniel Schreiber highlighted that gross profit increased sharply and free cash flow turned positive, noting, “This was our strongest quarter ever,” yet also acknowledged the need to maintain disciplined expense growth. Management’s cautious remarks around the pace of investment and the competitive landscape may have influenced the market’s reaction.
Etsy’s fourth quarter results were met with a positive market reaction, as the company’s profitability exceeded Wall Street expectations despite ongoing softness in buyer activity. Management attributed this outcome to operational improvements in its core marketplace, such as reorganizing around customer outcomes and investing in targeted marketing, particularly on social channels like TikTok. CEO Kruti Goyal emphasized that enhancements to Etsy’s mobile app and personalized marketing efforts are beginning to drive healthier engagement and retention, noting, “Our app is making it our most personalized and engaging platform.”
Farmer Mac’s third quarter was marked by strong business volume growth and an 11% year-over-year increase in sales, despite falling short of Wall Street’s revenue expectations. Management credited the quarter’s positive performance to continued expansion in infrastructure finance, particularly in broadband and renewable energy lending, and highlighted a record net effective spread. CEO Bradford Nordholm emphasized, “Our strategy-driven decision to diversify our loan portfolio into newer lines of business…has been a key priority, and that diversification is benefiting us through changing market cycles.” Operating expenses increased due to higher headcount and technology investments, but these were seen as essential to supporting new business volumes and operational efficiency projects.
Walmart’s fourth quarter was marked by robust digital growth and continued market share gains, earning a positive reaction from investors. Management attributed the performance to a strong omnichannel strategy, as e-commerce sales grew 24% globally and new technology investments improved inventory and delivery speeds. CEO John Furner highlighted that customers using Walmart’s AI-powered shopping assistant, Sparky, placed larger orders, saying, “Customer engagement is up, and customers who use Sparky have an average order value that’s about 35% higher than non-Sparky customers.” The company also saw strength in fashion and general merchandise, with both in-store and online sales outperforming expectations. Inventory management improvements, automation, and a focus on higher-margin areas like advertising and membership further supported profit growth.
Pool’s fourth quarter results were met with a negative market reaction, as revenue remained flat year over year and fell short of Wall Street expectations. Management attributed the quarter’s performance to persistent weakness in new pool construction, with CEO Peter Arvan noting that industry-wide new pool builds continued to decline, while maintenance spending held up. In particular, difficult year-over-year comparisons in regions like Florida, which benefited from hurricane-related repairs last year, contributed to the flat sales. Arvan highlighted that, despite these headwinds, the company’s pricing discipline and supply chain initiatives supported improved gross margins.
Bandwidth’s fourth quarter was marked by steady operational execution and a clear focus on large enterprise customers, as highlighted by management. CEO David Morken emphasized, “We closed a record number of million-dollar-plus deals, including two significant wins in the fourth quarter alone.” The company also pointed to growing adoption of its AI voice solutions and Maestro orchestration software as contributing factors, with increased engagement from both new and existing enterprise clients. Management attributed ongoing profitability improvement to a stronger mix of software services and disciplined cost control.
Choice Hotels’ fourth quarter saw a positive market reaction as the company outpaced Wall Street’s expectations on both revenue and non-GAAP earnings per share, despite flat top-line growth compared to last year. Management credited higher-revenue brand momentum, robust international expansion, and strong growth in extended stay segments for supporting results. CEO Patrick Pacious pointed to “record U.S. extended stay hotel openings” and a deliberate strategy to exit underperforming properties, which improved the portfolio’s earnings profile and guest satisfaction scores.
Integer Holdings saw a positive market reaction to its fourth quarter results, as revenue and non-GAAP earnings per share both exceeded Wall Street expectations. Management cited strong performance in the Cardio & Vascular segment, particularly from acquisitions and demand in neurovascular, as a primary driver. CEO Peyman Khales emphasized the role of operational improvements and disciplined expense management, noting, "Operational improvements accounted for $30 million, or $0.86 per share, and reflected the benefits of higher sales volume, manufacturing efficiencies, operating expense management, and acquisition performance." The company’s product development pipeline and recent investments in manufacturing were also highlighted as contributors to the quarter's results.
YETI’s fourth quarter was met with a significant negative market reaction despite the company achieving both revenue and non-GAAP earnings ahead of analyst expectations. Management attributed the quarter’s results to strong international momentum—particularly in Europe and Australia—and the ongoing expansion of its Drinkware and Coolers & Equipment segments. CEO Matthew Reintjes highlighted that “[Q4] delivers 5% net sales growth fueled by continued momentum across the YETI brand,” but also acknowledged increased promotional activity and ongoing tariff pressures that weighed on profitability. The company’s operating margin declined year over year, with higher tariffs and increased spending on marketing and technology investments contributing to the margin compression.
Laureate Education’s fourth quarter reflected strong execution on strategic initiatives, with management highlighting robust student enrollment growth and a continued shift toward online programs as core drivers of performance. The company’s focus on scaling operations in Mexico and Peru, alongside targeted investments in new campus facilities and health science offerings, contributed to improved operating margins. CEO Eilif Serck-Hanssen pointed to the expansion of Laureate’s online education capabilities and the launch of new campuses as key pillars supporting both top-line growth and improved academic outcomes.
Cushman & Wakefield’s fourth quarter results came in ahead of Wall Street’s revenue expectations, but the market response was negative. Management attributed the quarter’s performance to momentum in its capital markets business, which delivered double-digit growth, and resilient leasing activity across regions. CEO Michelle MacKay emphasized the company’s progress in breaking down organizational silos and leveraging technology, while also acknowledging the impact of higher annual healthcare costs and a non-cash impairment related to its Greystone joint venture.
LKQ’s fourth quarter saw revenue come in ahead of Wall Street’s expectations, even as overall sales remained flat year on year. The market responded positively, reflecting confidence in LKQ’s execution amid a tough backdrop. Management attributed performance to steady share gains with large repair shop groups (MSOs), disciplined cost actions, and the simplification of its business through the sale of its self-service segment. CEO Justin Jude acknowledged that headwinds from weak repairable claims, tariffs, and ongoing softness in Europe all challenged profitability, but highlighted the company’s ability to generate robust free cash flow and maintain operational discipline.
Appian’s fourth quarter was marked by continued momentum in large enterprise deals and strong traction with artificial intelligence (AI)-powered solutions. Management attributed performance to a significant increase in customers adopting advanced AI features, particularly through upgrades to higher subscription tiers. CEO Matthew Calkins noted that, “Much of our revenue, profit and pipeline growth in 2025 is a result of our synergy with AI,” highlighting successful customer use cases in regulated industries and government.
UL Solutions delivered revenue ahead of Wall Street expectations in Q4, with management attributing growth to continued strength in both its Consumer and Industrial segments. CEO Jennifer Scanlon emphasized that the company’s focus on global megatrends such as digitalization, energy transition, and sustainability drove demand for its testing and certification services. The quarter benefited from investments in advanced laboratory infrastructure and higher productivity, leading to robust margin expansion. Scanlon noted, “Our strategic alignment with major industry megatrends is resonating with customers,” highlighting balanced performance across all regions and offerings.
Brady’s latest quarter reflected continued momentum in engineered identification products, with management highlighting robust performance in the Americas and Asia, particularly in wire identification solutions for data centers and industrial clients. CEO Russell Shaller noted that “engineered products have more than compensated” for softness in commoditized offerings, supporting margin resilience despite sluggish manufacturing activity in key regions. The company’s improved gross profit margin was attributed to a shift in sales mix and benefits from last year’s cost reduction actions. Management also emphasized strong cash generation and disciplined operating expense control, helping offset pockets of weaker organic growth, especially in the Americas and Europe.
Wayfair’s fourth quarter was marked by revenue and profit performance that exceeded Wall Street expectations, but the market reacted negatively as management acknowledged continued customer softness and headwinds in active customers. CEO Niraj Shah described the quarter as a period in which the company “returned to growth and accelerated throughout the year,” largely driven by initiatives such as store expansion and the Wayfair Rewards loyalty program. Despite these efforts, active customers declined year over year, and management highlighted ongoing challenges in the broader home goods category, noting it “contracted in the low single digits for the final quarter of the year.”
Kamala Harris criticized Trump's SOTU speech, calling it full of lies and rejecting his claims of a strong economy. She also slammed his policies on voting rights and Iran, while other Democrats criticized his lack of focus on affordability and health care.
