NPK International (NPKI) Earnings Transcript

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Feb. 26, 2026 astatine 9:30 a.m. ET

• President and Chief Executive Officer — Matthew S. Lanigan

• Chief Financial Officer — Gregg S. Piontek

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Matthew S. Lanigan, our President and Chief Executive Officer. Before handing implicit to Matthew, I would similar to item that today's treatment contains forward-looking statements regarding aboriginal concern and fiscal expectations. Actual results whitethorn disagree importantly from those projected successful today's forward-looking statements owed to assorted risks and uncertainties, including the risks described successful our periodic reports filed with the SEC. Except arsenic required by law, we undertake nary work to update our forward-looking statements. Our comments connected today's telephone whitethorn besides see definite non-GAAP fiscal measures. Additional details and reconciliation to the astir straight comparable GAAP fiscal measures are included successful our quarterly net release, which tin beryllium recovered connected our firm website astatine npki.com.

There volition beryllium a replay of today's call, and it volition beryllium disposable by webcast wrong the Investor Relations conception of our website astatine npki.com. Please enactment that the accusation disclosed connected today's telephone is existent arsenic of 02/26/2026. At the decision of our prepared remarks, we volition unfastened the enactment for questions. I volition present crook the telephone implicit to our President and CEO, Matthew S. Lanigan.

Matthew S. Lanigan: Thanks, Gregg, and invited to everyone joining america connected today's call. We are precise pleased with our beardown 4th fourth performance, which reflects a grounds decorativeness to 2025 and continues to item the merits of our semipermanent maturation strategy. Total revenues for the 4th fourth accrued 9% sequentially and 31% twelvemonth implicit year, benefiting from sustained spot successful rental fleet utilization, including the impacts of aggregate large-scale inferior projects discussed past quarter. Product income request besides remained robust, contributing $25,000,000 to 4th fourth revenue. The elevated utilization and our beardown execution delivered a coagulated betterment successful profitability, resulting successful a 4th fourth adjusted EBITDA of $22,000,000, representing a 41% sequential and 27% twelvemonth implicit twelvemonth improvement.

Our beardown Q4 results are a nonstop reflection of our committedness to our cardinal strategical priorities. As I bespeak connected our 2025 performance, I wanted to instrumentality a infinitesimal to item our achievements against each of the initiatives we laid retired 1 twelvemonth ago. Entering 2025, our highest precedence was to accelerate integrated rental growth, which we judge represents the stickiest and highest semipermanent operator of returns. For the afloat twelvemonth 2025, we delivered $124,000,000 successful rent revenues, representing 39% twelvemonth implicit twelvemonth growth, of which 37% was from integrated maturation and 2% was from our November acquisition of Grassform Plant Hire.