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PepGen: Stock Slides On FDA Study Hold – I’m Firmly On The Sidelines (NASDAQ:PEPG)

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PepGen: Stock Slides On FDA Study Hold - I'm Firmly On The Sidelines (NASDAQ:PEPG)

This article was written by

Edmund Ingham is a biotech consultant. He has been covering biotech, healthcare, and pharma for over 5 years, and has put together detailed reports of over 1,000 companies. He leads the investing group Haggerston BioHealth.

The group is for both novice and experienced biotech investors. It provides catalysts to look out for and buy and sell ratings. It also provides product sales and forecasts for all the Big Pharmas, forecasting, integrated financial statements, discounted cash flow analysis and market by market analysis. Learn more.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Amazon down for thousands of users in US, Downdetector shows

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Amazon down for thousands of users in US, Downdetector shows


Amazon down for thousands of users in US, Downdetector shows

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Gap (GAP) Q4 2025 earnings

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Gap (GAP) Q4 2025 earnings

Pedestrians in the snow at Times Square during a winter storm in New York, US, on Sunday, Feb. 22, 2026.

Bloomberg | Bloomberg | Getty Images

Historic winter storms and subsequent store closures weighed on Gap’s performance during its holiday quarter and contributed to worse-than-expected results at its portfolio of brands, the retailer said Thursday. 

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Cold weather, snow and ice throughout much of the U.S. in January led to about 800 temporary store closures at the storms’ peak, contributing to a miss on comparable sales for Old Navy and mixed companywide results, the retailer said. 

“Old Navy and all the brands were actually trending better heading into that weather disruption,” said finance chief Katrina O’Connell. “The good news is the trends recovered immediately after those storms passed.” 

Across the business, which includes Old Navy, Banana Republic, Athleta and Gap’s namesake banner, the retailer reported mixed fiscal fourth quarter results – missing expectations on the bottom line and meeting consensus on revenue. 

Here’s how the retailer did compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:

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  • Earnings per share: 45 cents vs. 46 cents expected
  • Revenue: $4.24 billion vs. $4.24 billion expected

The company’s reported net income for the three-month period that ended Jan. 31 was $171 million, or 45 cents per share, compared with $206 million, or 54 cents per share, a year earlier. During the quarter, Gap’s gross margin was weighed down by tariffs and fell to 38.1%, slightly worse than analysts expected, according to StreetAccount. 

Sales rose to $4.24 billion, up about 2% compared to $4.15 billion a year earlier. 

Gap’s guidance was largely in line with expectations, but failed to exceed consensus. For the current quarter, it’s expecting revenue to rise between 1% and 2%, compared to expectations of 2%, according to LSEG. 

For the full year, the company is expecting sales to grow between 2% and 3%, in line with expectations of 2.5% growth, according to LSEG. Given a $313 million positive legal settlement Gap saw during the current quarter, it issued an adjusted full-year earnings per share outlook. The company said its expecting adjusted earnings per share to be between $2.20 and $2.35, compared to expectations of $2.32, according to LSEG. 

Gap did not factor recent changes to tariffs into its outlook because the company believes it’s “premature to plan for a change” as the situation continues to evolve, said O’Connell. Given how much of a hit Gap took from President Donald Trump’s global tariffs, which were struck down by the U.S. Supreme Court last month, Gap could issue stronger guidance in the coming quarter because the newly enacted 15% tariff is slightly below the previous rates for many countries.

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“If the [current] Section 122 tariffs were to stay in place for the year or expire in July, it should lead to a more favorable outcome versus the outlook we provided today,” said O’Connell. “If 15% were the rate that would stay in place for the balance of the year, that rate is slightly below the current IEEPA rates that are contemplated in our plans, so that could give us a modest benefit to operating income if that scenario were to play out.” 

Gap’s choppy results come just over two years into CEO Richard Dickson’s turnaround plan and analysts begin to expect more from the apparel giant. Now that the company has improved profitability, returned to growth and amassed a staggering $3 billion cash pile, Dickson said he’s ready to turn to the next phase of the plan, which is about “building momentum.” 

“Our primary focus is going to be on growing our core apparel business, and we’re going to do this through continuous improvement,” said Dickson. “This has all been driven by disciplined execution, which we need to continue to do with better product, better marketing and better storytelling and that’s not easy, but we’re proving that that muscle is getting stronger and stronger now.” 

In the meantime, Gap is also turning its sights on growth opportunities for the company, including its expansion into beauty and accessories and its fashion and entertainment platform through the recent appointment of a chief entertainment officer. He said the ventures will begin to really scale next year. 

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Here’s a closer look at how each brand performed: 

Old Navy

Gap’s largest and most important brand saw sales rise 3% to $2.3 billion, with comparable sales also up 3%, well below analyst consensus of 4.3%, according to StreetAccount. Despite the miss, Gap said Old Navy’s “price value equation is resonating with consumers” and it’s continuing to win over shoppers across a wide range of income levels. 

Gap

The brightest spot of Gap’s quarter came from its namesake banner, which saw sales rise 8% to $1.1 billion with comparable sales up 7%, far ahead of expectations of 4.6%, according to StreetAccount. Under Dickson, the brand has worked to regain its cultural relevance and is winning over a wide range of generations, including younger, Gen Z shoppers. 

Banana Republic

The safari-chic workwear brand posted its third straight quarter of positive comparable sales, which were up 4%, beating expectations of 2.5%. Sales rose 1% to $549 million, reflecting progress in both marketing and product assortment. “Men’s just continues to build momentum. Key items like the traveler pant, our cashmere program, really fantastic outerwear that’s been driving the performance, particularly in the quarter,” said Dickson. “Women’s performance is becoming much more consistent. We’ve had strength in denim skirts and sweaters and as we enter 2026, Banana is really starting to find its momentum.”

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Athleta 

The athleisure brand saw another quarter of sagging sales, with revenue down 11% to $354 million and comparable sales down 10%. In some ways, the drop reflects an overall sluggish athletic apparel market, but the company has also had a number of strategic missteps, including targeting the wrong customer and offering products that failed to land. Under the brand’s new CEO, Dickson said Athleta has been working on revamping the assortment, bringing back customer favorites and dialing up innovation. 

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The Trade Desk Stock Surges 19% in Volatile Session on OpenAI Partnership Reports Amid Ad-Tech Recovery Hopes

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Australia's Top 10 Companies Holding Bitcoin: A Growing Corporate Treasury

Shares of The Trade Desk Inc. rocketed higher in early Friday trading, gaining nearly 19% as reports of potential partnership discussions with OpenAI fueled optimism in the beleaguered ad-tech sector. The rally provided a sharp contrast to the stock’s steep declines earlier in 2026, driven by softer guidance and competitive pressures.

The Trade Desk
The Trade Desk

The Trade Desk (NASDAQ: TTD) traded around $29.90 to $30.00 by mid-morning Eastern Time, up approximately $4.73 to $4.81 or 18.8% to 19.1% from Thursday’s close of $25.17. The stock opened near $31.49, hit an intraday high of $32.90, and dipped to a low of about $29.51 to $29.71. Volume surged dramatically, exceeding 40 million shares in early sessions—well above recent averages—as traders reacted swiftly to the news.

The catalyst stemmed from reports that The Trade Desk held talks with OpenAI about partnering in ad sales, potentially integrating the AI leader’s capabilities into programmatic advertising workflows. Speculation suggested such a collaboration could enhance targeting, creative generation, and campaign optimization on The Trade Desk’s platform, particularly in connected TV (CTV) and open internet channels. Shares popped as much as 22% in some snapshots, with after-hours moves earlier pushing levels toward $27.50 before Friday’s momentum carried higher.

The move marked a dramatic rebound for a stock that has faced intense selling pressure in 2026. Year-to-date, TTD has declined significantly before this session, with shares down over 30% at points amid broader ad-tech challenges. The 52-week range spans a low of $21.08—touched recently—and a high of $91.45 from mid-2025. Market capitalization stood near $13 billion to $13.5 billion, reflecting the volatility.

Recent headwinds trace to the company’s fourth-quarter 2025 earnings released late February. Revenue rose 14% year-over-year to $846.8 million, beating estimates of $841.9 million, while adjusted EPS of $0.59 aligned with consensus. Adjusted EBITDA reached $400.3 million, surpassing forecasts. Excluding political ad spend, growth appeared stronger at around 19%.

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However, first-quarter 2026 guidance tempered enthusiasm. The company projected revenue of at least $678 million—implying roughly 10% growth—and adjusted EBITDA around $195 million, down from the prior year’s $208 million. Analysts cited pressures in advertiser categories like automotive and consumer packaged goods, alongside competition from walled gardens and macroeconomic caution.

The outlook prompted widespread analyst downgrades and price target cuts in late February. Firms slashed targets sharply, with some dropping to the low $20s from prior highs in the $50s to $90s. Consensus now hovers around $32.95 to $33, implying modest upside from pre-rally levels but still reflecting caution on near-term execution.

Despite the pullback, The Trade Desk maintains strengths in independent demand-side platform leadership. Its focus on CTV, audio, and retail media continues to drive adoption, with initiatives like the Ventura Ecosystem enhancing impression quality and advertiser control. Partnerships and data integrations position the company to capture share in an evolving digital ad landscape increasingly influenced by AI.

Broader market context added layers to Friday’s action. While geopolitical tensions and oil price surges pressured equities overall, ad-tech and growth names showed selective resilience on company-specific catalysts. The Dow and S&P 500 traded mixed to lower, but speculative and tech-adjacent stocks reacted to headline momentum.

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Options activity spiked, with call volume elevated and bullish positioning evident in short-dated contracts. Traders appeared to bet on continued follow-through if partnership details materialize or if upcoming data reinforces recovery signals.

Wall Street remains divided. While recent cuts reflect execution risks and decelerating growth—from mid-20s percentages in prior years to teens now—some analysts highlight long-term potential in AI-enhanced advertising and open internet gains. Earnings estimates for fiscal 2026 project EPS around $2.06 to $2.08, up from prior years, though revisions have trended lower.

The Trade Desk’s next major update arrives with first-quarter results expected in May 2026. Investors will seek clarity on guidance delivery, CTV momentum, and any AI or partnership progress. Management has emphasized platform independence and transparency as competitive edges amid industry consolidation.

Friday’s surge illustrates the stock’s high-beta nature and sensitivity to catalysts in a volatile environment. After months of underperformance, the OpenAI-related speculation injected fresh hope for a turnaround, though sustainability hinges on fundamentals amid macro and competitive challenges.

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As U.S. markets progressed, TTD held strong gains near $30, with volume remaining elevated. The session served as a reminder of how quickly sentiment can shift in ad-tech, balancing cautious outlooks with potential for explosive upside on positive developments.

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Record number of Americans tap 401(k) for hardship withdrawals in 2025

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Record number of Americans tap 401(k) for hardship withdrawals in 2025

A record number of Americans tapped into their 401(k) retirement savings for hardship withdrawals last year due to financial challenges, new data shows.

Vanguard Group reported that 6% of participants in 401(k) plans administered by the firm took hardship withdrawals in 2025, up from 4.8% in 2024.

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That figure is also well above the prepandemic average of about 2% of 401(k) plan participants per year who made hardship withdrawals from their retirement plans, Vanguard said.

The report noted that hardship withdrawals can be a sign of financial stress as workers tap into their 401(k) as a safety net that can help them cover unanticipated expenses or emergency costs.

SOME RETIREMENT SAVERS LOSE A KEY TAX BREAK UNDER NEW IRS RULE

couple who are retiring

IRA hardship withdrawals trended higher in 2025 as some savers encountered financial stress, Vanguard found. (iStock)

Vanguard added that the process for requesting a hardship withdrawal from 401(k) plans has become easier to do, which could explain the uptick in withdrawal activity.

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“Given that it’s now easier to request a hardship withdrawal and that automatic enrollment is helping more workers save for retirement, especially lower-income workers, a modest increase isn’t surprising,” the firm wrote.

“And for a small subset of workers facing financial stress, hardship withdrawals may serve as a safety net that may not otherwise have been available without plan-implemented automatic solutions,” Vanguard continued.

TRUMP SAYS HE’S ‘NOT A HUGE FAN’ OF 401(K) WITHDRAWAL PLAN FOR HOMEBUYERS’ DOWN PAYMENTS

vanguard headquarters in Pennsylvania

Vanguard’s report found that foreclosures, eviction and medical expenses were the leading reasons for 401(k) hardship withdrawals. (Mike Mergen/Bloomberg via Getty Images)

Avoiding foreclosures, eviction and medical expenses were the leading reasons that 401(k) participants made hardship withdrawals, while the median size of the withdrawal was $1,900, according to Vanguard.

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The report found that participants were focused on financial goals throughout 2025 and saw average account balances rise by 13% due to positive market performance. Vanguard noted that 45% of 401(k) participants increased their deferral rate on their own or through an automatic annual increase.

“While there are some signs of heightened financial stress among certain workers, the broad trends in plan design and participant behavior remain strong,” Vanguard said, noting that automatic contributions have boosted savings and investment outcomes.

IRS REVEALS UPDATED RETIREMENT CONTRIBUTION LIMITS FOR 2026

US Capitol at dawn

Congress reformed the law to make it easier for Americans to make hardship withdrawals from 401(k) plans in 2018. (Al Drago/Getty Images)

The use of 401(k) loans – an alternative to hardship withdrawals – was flat and remained below prepandemic levels.

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Congress reformed the process for taking 401(k) hardship withdrawals in 2018, making it easier to do so by eliminating a requirement that a plan participant take a loan out first before being allowed to make a withdrawal.

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Vanguard found that hardship withdrawals have risen six years in a row after the change was made.

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From Pop Icon to Recent Legal Troubles in 2026

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Britney Spears at the 44th Grammy Awards in February 2002

Britney Spears, the pop superstar whose career has spanned more than two decades of chart-topping hits, personal triumphs and public battles, remains one of entertainment’s most enduring figures. As of early March 2026, the 44-year-old singer faces fresh headlines following an arrest on suspicion of driving under the influence, adding another chapter to her complex post-conservatorship life. Here are 10 key things to know about Britney Spears today.

Britney Spears at the 44th Grammy Awards in February 2002
Britney Spears at the 44th Grammy Awards in February 2002
AFP / LEE CELANO

1. **Enduring Pop Legacy**
Spears burst onto the scene in 1998 with “…Baby One More Time,” selling over 30 million copies worldwide and sparking the late-1990s teen-pop explosion. Her catalog includes nine studio albums, with classics like “Toxic,” “Oops!… I Did It Again” and “Womanizer” earning her a spot among the best-selling female artists ever, with more than 150 million records sold globally.

2. **Conservatorship Battle and Freedom**
From 2008 to 2021, Spears lived under a court-ordered conservatorship that controlled her personal and financial affairs amid mental health struggles. The arrangement ended in November 2021 after public protests and her testimony detailing abuse claims. The #FreeBritney movement galvanized fans worldwide, marking a pivotal victory for artist rights.

3. **Post-Conservatorship Memoir**
In 2023, Spears released “The Woman in Me,” a bestselling memoir detailing her conservatorship experiences, family dynamics and Hollywood pressures. The book sold millions of copies and sparked renewed interest in her story, including discussions of an upcoming biopic adaptation.

4. **Music Catalog Sale**
In early 2026, Spears sold rights to her music catalog to publisher Primary Wave in a deal reportedly worth around $200 million. The transaction provided financial security while allowing her to step back from active music management. She has not released new music since 2016’s “Glory,” though fans speculate about future projects.

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5. **Vow Against U.S. Performances**
In January 2026, Spears posted on Instagram that she “will never perform in the U.S. again because of extremely sensitive reasons.” She cited personal factors without elaboration but expressed hope for future shows in the United Kingdom and Australia, possibly alongside her son Jayden James, whom she praised as a “huge star” in music.

6. **Teases of International Comeback**
Despite her U.S. performance stance, Spears has hinted at a return to the stage abroad “very soon.” Fans have fueled 2026 comeback rumors through social media, interpreting cryptic posts and throwback photos as signs of new music or limited international dates. No official announcements have confirmed tours or albums as of March 2026.

7. **Recent DUI Arrest**
On March 4, 2026, Spears was arrested by California Highway Patrol in Ventura County on suspicion of driving under the influence. Records show the incident occurred late Wednesday evening; she was cited and released early Thursday morning. Spears is scheduled to appear in Ventura County Superior Court on May 4, 2026. Details of the charge and any potential outcomes remain pending.

8. **Family Focus and Personal Life**
Spears shares two sons, Sean Preston and Jayden James, with ex-husband Kevin Federline. She has spoken openly about motherhood challenges and her evolving relationship with her children. Recent posts highlight support for her son’s music career and personal reflections on faith, fear and spiritual growth.

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9. **Social Media Presence**
Spears remains active on Instagram, where she shares dance videos, personal thoughts and family moments with millions of followers. Her posts often blend vulnerability, humor and defiance, addressing past traumas while embracing independence. In early 2026, she discussed spiritual awakenings and admiration for figures like Madonna.

10. **Ongoing Cultural Impact**
Spears continues to influence pop culture, with her story inspiring documentaries, books and advocacy for mental health and conservatorship reform. Rumors of a biopic based on her memoir persist, and her catalog’s enduring popularity keeps hits in rotation. Despite challenges, including the recent arrest, Spears’ resilience resonates with fans who view her as a symbol of survival and artistic freedom.

The March 2026 arrest marks Spears’ latest brush with legal issues, drawing renewed media attention amid her post-conservatorship era. Authorities have released limited details, and Spears has not publicly commented on the incident as of early Friday. Her team did not immediately respond to requests for statement.

Fans continue to monitor her social media for updates, balancing concern with support. Spears’ journey—from teen idol to outspoken advocate—remains compelling, with 2026 shaping up as a year of personal reflection rather than confirmed professional returns.

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As legal proceedings approach in May, Spears’ story underscores the complexities of fame, recovery and privacy in the public eye.

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New leadership structure set for Ferrero Group

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New leadership structure set for Ferrero Group

Nervegna to CEO of Ferrero Core; Civiletti to president of WK Kellogg Co.

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FDA official discusses UniQure gene therapy for Huntington’s disease

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FDA official discusses UniQure gene therapy for Huntington's disease

Thomas Fuller | SOPA Images | Lightrocket | Getty Images

UniQure needs to run another study to prove that its gene therapy “actually helps people with Huntington’s disease,” a senior U.S. Food and Drug Administration official said on a call with reporters Thursday.

The official, who requested anonymity before discussing sensitive information, confirmed the agency has asked the company to run a placebo controlled trial of its treatment, which is administered directly into the brain. UniQure has said that type of study isn’t ethical because it would require putting people under general anesthesia for hours, a characterization the official disputed.

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“So what is really going on? UniQure is the latest company to make a failed therapy for Huntington’s patients,” the official said. “They likely acknowledge or understand at some deep level that their trial failed years ago, and instead of doing the right thing and running the correct clinical study, UniQure is performing a distorted or manipulated comparison in the mind of FDA.”

The comments mark the latest development in a messy public spat between UniQure and the FDA, and as the agency comes under fire for a number of recent drug approval application rejections, including some where companies have accused it of going back on previous guidance. FDA Commissioner Marty Makary in an interview with CNBC’s Becky Quick last week seemingly criticized UniQure’s gene therapy for Huntington’s disease. Makary didn’t name UniQure but described its treatment.

FDA Commissioner Dr. Makary on rare disease therapy approvals, internal politics at the agency

UniQure then accused the FDA of reversing its stance that the company’s clinical trial data would be sufficient to seek approval. UniQure’s study used an outside database to measure how patients with Huntington’s disease might decline without treatment, known as an external control. UniQure has said it wouldn’t be feasible to run a true randomized, double-blind placebo-controlled study, considered the gold standard, because it wouldn’t be ethical to make people undergo a sham hours-long brain surgery.

The FDA official said the agency “never agreed to accept this distorted comparison” and the FDA “never makes such assurances.” Instead, the “FDA will always say, ‘Well, we have to see the data when we get it.’”

UniQure didn’t immediately comment.

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The company’s stock rose more than 10% on Thursday and has fallen 58% this year as of Thursday afternoon.

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Broadcom: Like Buying Nvidia In May 2023

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Broadcom: Like Buying Nvidia In May 2023

Broadcom: Like Buying Nvidia In May 2023

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Savaria Corporation (SIS:CA) Q4 2025 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Operator

Good morning. My name is Daniel, and I will be your conference operator today. At this time, I would like to welcome everyone to Savaria Corporation’s Q4 2025 Investor and Analyst Call. [Operator Instructions] Please be advised that today’s conference is being recorded.

This call may contain forward-looking statements, which are subject to the disclosure statement contained in Savaria’s most recent press release issued on March 4, 2026, with respect to its QX 2025 results. Thank you. Mr. Bourassa, you may begin your conference.

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Sébastien Bourassa
President, CEO & Director

Thank you, Daniel, and good morning, everyone. Today, I will start with a small recap of our Q4 results. Then Steve will update us on financial, and JP will update us on Savaria One and Europe, followed by a Q&A session.

Once again, I’m very proud of our Q4 results. As for the first time ever, we reached $51.3 million of EBITDA at 21.2%, which is a very important milestone and our best quarter ever. We finished the year with sales of $913 million and an EBITDA of $186.2 million at 20.4%, which again is our best result ever. All KPIs are improving, and Steve will go more in detail later.

Today, there’s 3 things that I would like

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Six Flags sells 7 parks to EPR Properties for $331M

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Six Flags sells 7 parks to EPR Properties for $331M

Six Flags Entertainment will sell off seven of its amusement parks in the United States and Canada to EPR Properties, the company announced Thursday.

On Thursday, the company said it would sell off Michigan’s Adventure in Muskegon, Michigan; Schlitterbahn Waterpark Galveston in Texas; Six Flags Great Escape in Queensbury, New York; Six Flags La Ronde in Montreal; Six Flags St. Louis in Missouri; Valleyfair in Minneapolis and Worlds of Fun in Kansas City for around $331 million. 

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EPR Properties, a real estate investment trust, will acquire the seven parks. (Hans Gutknecht/MediaNews Group/Los Angeles Daily News via Getty Images)

“Consistent with our strategy, this divestiture enables us to concentrate our capital, leadership and operational focus on the properties that we believe generate the strongest returns and offer the greatest long-term upside,” Six Flags Entertainment Corporation chief executive John Reilly said in a news release.

EPR plans to partner with Enchanted Parks to run the six U.S. parks. La Ronde Operations will operate the Canadian park.

The parks will continue to operate on their regular schedule and all season passes sold will be recognized through the 2026 operating season. 

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DISNEY ANNOUNCES MAJOR OPENAI DEAL, INCLUDES $1B EQUITY INVESTMENT, USE OF CHARACTERS ON SORA VIDEO PLATFORM

Roller coaster at Six Flags in California

Six Flags will be left with 34 parks across North America after the sale. (Hans Gutknecht/MediaNews Group/Los Angeles Daily News via Getty Images / Getty Images)

Six Flags will continue to operate 34 parks across 23 locations in North America for the 2026 season.

The deal is expected to close by the end of the first quarter or the beginning of the second quarter of 2026. 

Ticker Security Last Change Change %
FUN SIX FLAGS ENTERTAINMENT 16.73 +0.02 +0.12%

Collectively, the seven parks hosted about 4.5 million guests last year, generating about $260 million in net revenue, the company said. Cash proceeds, after taxes and transaction expenses, will be used to pay down debt, it said.

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Riders on a Six Flags roller coaster in California.

Around 4.5 million guests visited the seven parks last year. (Mathew Imaging/WireImage)

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“This strategic acquisition represents a compelling opportunity to expand our attractions portfolio with high-quality experiential real estate assets in established regional markets,” EPR Properties CEO Gregory Silvers said.

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