Earnings Unscripted: Stock Earnings Calls & Analysis

Miro Benes
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Earnings Unscripted delivers short, AI-powered earnings call analysis, with every episode under 15 minutes. We break down corporate earnings calls, analyze financial results, and compare what companies say with what the numbers show. If you want fast earnings analysis without listening to full earnings calls, this podcast is designed for you. New episodes released regularly. * Not financial advice.

  1. 9H AGO

    Etsy (ETSY) Q4-25 earnings: The $1.2B Depop reset & the end of the US hangover

    Etsy is unwinding its pandemic-era empire by selling Depop for $1.2 billion in Q4 2025, betting that shrinking the business is the only way to save its margins. In ~10 minutes: - Why shedding Depop instantly recovers 350 basis points of EBITDA margin. - U.S. buyer growth turns positive for the first time in four years. - The massive stock reversal that hit exactly as the earnings call began. - How AI "agentic" shopping bots are successfully reactivating Etsy's lapsed buyers. Just 50 days into the job, new CEO Kruti Patel Goyal is officially hitting the reset button. By ditching the multi-brand strategy to focus entirely on the core app and navigating the tricky new world of AI search referrals, Etsy is trading expensive growth illusions for absolute capital discipline. Etsy Inc. (ETSY) | Q4 FY2025 AI-assisted production. Feedback/ticker requests: https://x.com/EarnUnscripted.

    10 min

  2. 9H AGO

    Newmont (NEM) Q4-25 earnings: A $3B cash machine, an abandoned mine & the Barrick war

    Newmont's Q4 2025 report reveals a massive paradox: record gold prices are printing billions in free cash flow, but sudden global tax traps and an escalating operational feud with Barrick completely hijacked the narrative. In ~10 minutes: • Why the stock reversed and dumped 5.6% during the live call • The official default notice issued to JV partner Barrick • Scrapping the Yanacocha mega-mine and taking a $779M write-off • Why 2026 is strictly guided as a production "trough" • How expiring foreign tax holidays instantly vaporized half a billion dollars With realized gold prices surging past $4,200 an ounce, the fundamental math for Newmont has never looked better. Yet management's deliberate clearing of the deck—flushing 4.5 million proven ounces back to "resource" status and recalibrating their cost accounting—sets the stage for a dramatic, utility-like pivot designed to survive any commodity cycle. Company: Newmont Corp. (NEM) | Q4 FY25 AI-assisted production. Feedback/ticker requests: https://x.com/EarnUnscripted.

    9 min

  3. 10H AGO

    Teck Resources (TECK) Q4-25 earnings: 50% margins, broken shiploaders & dodging tariffs

    Teck Resources delivered an absolute monster Q4 2025 with 50% copper margins, yet the physical reality of broken port infrastructure and geopolitical trade wars are shifting a massive cash wave into next year. In ~10 minutes: • $5 copper drives an elite 50% EBITDA margin 📈 • Quebrada Blanca's record production meets a broken shiploader • Rerouting physical zinc ships to dodge reciprocal global tariffs • Why the Anglo American M&A agreement forces zero buybacks • Nippon Steel formally escalates legacy coal indemnity claims Despite a sharp pre-market gap down, the stock steadily erased all morning losses as management mapped out the massive Q1 sales flush catching up from the broken port. But with half a billion dollars getting buried into capitalized dirt-stripping at Highland Valley, Teck’s elite profitability is currently navigating a grueling logistical gauntlet. Teck Resources Ltd. (TECK) | Q4 FY2025 AI-assisted production. Feedback/ticker requests: https://x.com/EarnUnscripted.

    11 min

  4. 10H AGO

    Targa Resources (TRGP) Q4-25 earnings: Record EBITDA, $1B CapEx blitz & a 5-year tax pass

    In Q4, Targa Resources hit record earnings despite negative natural gas prices, but a massive ongoing construction bill triggered an abrupt aftermarket sell-off. In ~10 minutes: • Why Adjusted EBITDA reached a record $1.34B. • The massive $1.01B quarter for growth CapEx. 🏗️ • How new legislation wipes out cash taxes for five years. • Raising the baseline pipeline and plant spending to $2.5B annually. • Recommending a 25% dividend bump to pacify investors. Targa is basically building a Fortune 500 company inside its own backlog. By deliberately accelerating spending to secure long-lead supply chain items, they are prioritizing physical dominance in the Permian over immediate free cash flow generation. Targa Resources (TRGP) | Q4 FY2025 AI-assisted production. Feedback/ticker requests: https://x.com/EarnUnscripted.

    10 min

  5. 10H AGO

    Southern Company (SO) Q4-25 earnings: The $123M debt penalty & the end of Plant Vogtle

    Southern Company used strong Q4 2025 revenue growth to voluntarily absorb hundreds of millions in structural clean-up costs, aggressively prepping their balance sheet for a new era of grid expansion. In ~10 minutes: • Why the utility took a $123M pre-tax penalty to extinguish convertible debt. • The formal administrative end to the Plant Vogtle and Kemper mega-projects. • How a $63M Illinois Commerce Commission disallowance exposes local regulatory risks. • Why tearing down old wind turbines locked in $490M of scheduled depreciation. Despite massive sequential drops in reported operating income, the core business remains deeply healthy with top-line revenue up 10% year-over-year. Investors easily shrugged off the accounting noise, keeping shares completely stable near $95. By decisively closing out decades of legacy construction headaches and restructuring its wind fleets, management is trading short-term paper losses for long-term cash flow predictability. Southern Company (SO) | Q4 FY2025 AI-assisted production. Feedback/ticker requests: https://x.com/EarnUnscripted.

    11 min

  6. 10H AGO

    Walmart (WMT) Q4-26 earnings: Ads hit 33% of profits & e-commerce margin inflection

    Walmart's Q4 2026 results prove the physical retail giant is quietly transforming into a high-margin digital platform, even as its core shopper feels the pinch. In ~10 minutes: - Ads and memberships now drive ~33% of operating profit. - E-commerce scales to double-digit incremental margins. - Supply chain automation capex finally peaks. - Why GLP-1 drug users actually boosted fresh food revenue. - The 100 bps regulatory drag hitting pharmacy next year. While the market initially cheered the automation payoff and an AI tool boosting basket sizes by 35%, $WMT shares faded through the day. We unpack the massive internal mix shift, the end of the e-commerce cash burn, and the very real tension between a high-tech platform and a stretched paycheck-to-paycheck consumer. Company: Walmart Inc. (WMT) | Q4 FY2026 AI-assisted production. Feedback/ticker requests: https://x.com/EarnUnscripted.

    9 min

  7. 11H AGO

    Nutrien (NTR) Q4-25 earnings: The $300M weather trap & the rise of robot miners

    Nutrien’s Q4 2025 results present a fascinating paradox—revenue is down double digits, but net income surged thanks to strategic asset sales and structural cost engineering. In ~10 minutes: • Why 49% of their potash is now extracted by autonomous robots. • How a $301M divestiture masked operational EBITDA declines. • The creative segment reshuffling saving nitrogen margin optics. • Why muddy weather trapped $300M in deferred revenue for Q1. Despite an initial overnight algorithmic selloff, human traders reversed the stock hard at the open upon recognizing the underlying operational leverage. Management is ruthlessly chopping dead weight from the balance sheet, maintaining a 5% continuous share buyback, and shifting idle capacity off the books—turning an optically messy quarter into a coiled spring for 2026. Company: Nutrien Ltd. (NTR) | Q4 FY2025 AI-assisted production. Feedback/ticker requests: https://x.com/EarnUnscripted.

    9 min

  8. 11H AGO

    Occidental (OXY) Q4-25 earnings: Surviving $59 oil & the end of the M&A era

    Occidental posted a GAAP net loss in Q4 2025 as commodity prices sank, yet shares surged as the company declared an official end to its acquisition era. In ~10 minutes: - The $9.7B OxyChem sale and pivot to pure-play operations - How "routeless" remote tech 🤖 insulated cash flow from $59 oil - Why jumping to 40% simulfrac adoption is driving massive savings - Midstream arbitrage profits amidst Permian takeaway constraints With the Berkshire-backed empire-building phase fully complete, CEO Vicki Hollub is pivoting the entire organization to margin optimization. As major structural cap-ex rolls off the balance sheet this year, management is aiming to carve out $1.2B in free cash flow improvements strictly through operational execution. Occidental Petroleum Corp. (OXY) | Q4 FY2025 AI-assisted production. Feedback/ticker requests: https://x.com/EarnUnscripted.

    11 min
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About

Earnings Unscripted delivers short, AI-powered earnings call analysis, with every episode under 15 minutes. We break down corporate earnings calls, analyze financial results, and compare what companies say with what the numbers show. If you want fast earnings analysis without listening to full earnings calls, this podcast is designed for you. New episodes released regularly. * Not financial advice.

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