GuruFocus

$LUV Robert Jordan Chief Executive Officer on Southwest’s transformation and revenue momentum “2025 was the most transformational year in the history of Southwest Airlines.” “Customers are buying the products they want.” “We’re seeing broad-based demand strength across all geographies and fare structures.” “Everything that we told you about the initiatives is fully on track.” “A billion dollars in bag fees and over a billion dollars in seat ancillaries are unique to Southwest.” “We continue to expect significant margin expansion and earnings growth in 2026.” gurufocus.com/stock/LUV/summ…

$ROK Christian Rothe Chief Financial Officer on Rockwell’s growth outlook and margin expansion “We started off the year well.” “Our top-line growth, double-digits, really strong profitability.” “We beat our own expectations from both the top-line and the bottom line.” “The midpoint of our guide on the organic side is 4%.” “If we edge higher, then it can take us into that 5% to 8% range.” “Book to bill has been right around that one number.” “We have a very strong moat.” “AI is really an enabler.” “We are embedding AI across the whole stack.” “We are highly confident that we are going to be able to drive towards that 23.5% segment operating margin.” gurufocus.com/stock/ROK/summ…

$BA Jesus Malave Chief Financial Officer on Boeing’s 2025 progress and 2026 setup “2025 was a good year for The Boeing Company.” “BCA delivered 600 aircraft last year, which was the highest since 2018.” “The company put together a pretty strong and followed a quality and safety plan in methodical, about creating stability and maintaining stability in the production system, which enabled it to then increase the rates.” “BDS really made some good progress.” “BGS is clicking along quite nicely.” “It’s execution.” “We have to complete our certification programs.” “We have to get ourselves to these rates that we’ve talked about.” “There is a day where we will have to enter into a new program. That day is not today, and it’s not any time near.” gurufocus.com/stock/BA/summa…

$MA Mastercard Chief Product Officer Bjorn Lambert on BVNK adding stablecoin orchestration to Mastercard’s network “This acquisition, once closed, will advance our digital currency strategy while opening up incremental opportunities.” “With BVNK, Mastercard network would bring more optionality and end-to-end capabilities to meet the needs of our customers and partners for the years ahead.” “We do not see a change in how consumers pay for goods and services. Cards work exceptionally well.” “This acquisition, once closed, will allow for seamless interoperability across digital assets and fiat currencies for our customers and their end consumers and businesses across the world.” gurufocus.com/stock/MA/summa…

$DAL Ed Bastian President and CEO of Delta Air Lines on demand resilience and fuel recovery “We are increasing our guidance for the current quarter on revenues.” “We’ve had 8 of the 10 highest sales days in our history this quarter, five of those just this month since the war started.” “Over the last week, our sales are up 25% on a year-over-year basis.” “We are seeing strength in every market that we look at.” “The underlying health of the economy is still there, particularly the high-end economy, the K that we talk about, and we serve the top end of that K probably the highest end of that K.” gurufocus.com/stock/DAL/summ…

$DLTR Dollar Tree CEO Michael Creedon on multi-price strategy driving growth and customer expansion “We delivered 9% revenue growth in the fourth quarter with a comp of 5%.” “Multi-price represented approximately 16% of total sales and continues to deliver meaningfully higher sales productivity than legacy formats.” “Expanded price bands and a more relevant assortment increased category breadth and driving basket expansion.” “Dollar Tree US households reached a record 102 million, adding 6.5 million net new households in Q4.” “Multi-price and assortment expansion are not just driving spend; they are expanding Dollar Tree’s addressable market.” gurufocus.com/stock/DLTR/sum…

$PSA Public Storage CEO Joe Russell on $10.5B NSA merger creating industry scale and synergy upside “Today I am thrilled to announce the acquisition of National Storage Affiliates.” “Together we will lead the industry with the best market scale, deepest data and digital platform, largest customer base, and unparalleled financial strength.” “Public Storage is acquiring National Storage Affiliates in a 100% stock transaction valued at approximately $10.5 billion including debt.” “We’ve identified $110 to $130 million in actionable synergies driven by revenue management, brand, margin expansion, and overhead efficiency.” “Scale matters in this business and we’re now operating at a level that sets a new standard.” gurufocus.com/stock/PSA/summ…

$LEN Stuart Miller on affordability pressure, cost progress, and margin recovery potential “Home prices remain high and mortgage interest rates have remained stubbornly over 6%, so affordability remains the central challenge facing our buyers.” “We are not nostalgically waiting for the market to reset to the way things were.” “We have maintained volume and focused on building improved business programs to bring cost down so that we can remain profitable and still provide needed housing supply.” “Costs are coming down, volume is holding, and our asset-light platform is functioning extremely well.” “When mortgage rates normalize, we believe pent-up demand will be activated quickly and our margin will recover rapidly.” gurufocus.com/stock/LEN/summ…

$ADBE CEO Shantanu Narayen on AI transition and platform growth momentum “Our mission to empower everyone to create represents an even larger opportunity in the AI era.” “Our new AI-first offerings ending ARR more than tripled year over year.” “We surpassed 850 million monthly active users, achieving 17% year-over-year growth.” “Enterprises are increasingly looking to us to help drive their AI strategy.” “We had a strong start to the year, achieving $6.40 billion in revenue with double-digit growth.” gurufocus.com/stock/ADBE/sum…

$ULTA Chief Executive Officer Kecia Steelman on 2025 execution and 2026 momentum “We closed the year strong, delivering full year financial performance ahead of our plans while making important guesting investments to position our business for future growth.” “By nearly all measures of success, our team delivered against our plans.” “We drove 5.4% comparable sales growth, grew our loyalty program by 5% to a record 46.7 million active members, and gained market share in both mass and prestige beauty.” “As we turn to fiscal 2026, our Ulta Beauty Unleashed strategy will continue to guide our priorities.” “We are engaging with industry leaders to explore how we can further leverage AI to amplify what makes Ulta Beauty distinct.” “We have ambitious plans, and I’m confident that we have the right team, the right model, the right strategy, and the swagger to continue to win in the beauty category and create value for our shareholders.” gurufocus.com/stock/ULTA/sum…

$MAR President Chief Executive Officer Anthony Capuano on 2026 priorities and ecosystem strategy “We’re trying to build this ecosystem that has little to no leakage and Bonvoy is the connective tissue for that ecosystem.” “That starts with make sure we have the best brands and experiences on a global basis.” “If we have the right product everywhere our members want to go everywhere in the world for every trip purpose, then they really don’t feel the need to look outside that ecosystem.” “Technology is part of that, and we’re in the midst of a massive replatforming of our three most important technology systems.” “There’s all sorts of opportunity in distribution and margin efficiency, but we probably don’t talk enough about the guest-facing opportunity.” gurufocus.com/stock/MAR/summ…

$IQV CFO Michael Fedock on AI tailwinds, data moat, and growth outlook “This AI phenomenon is a net positive to IQVIA both in terms of revenue and margin expansion over time.” “It’s actually put a spotlight on our crown jewels, which is really our proprietary data and our domain expertise.” “We by far and away have the most robust data set in the industry, it’s not even close.” “That raw data that comes in every day is in a sense useless, our secret sauce is cleaning, coding, and linking it to make it useful.” “That’s our data moat, and that data is not available out there in the marketplace.” “We’ve deployed over 150 agents and expect to have over 500 by 2027.” “Nineteen out of the top 20 pharma are already using agents that we’ve built within their operations.” “On the commercial side you will see revenue growth acceleration and margin accretion as agents scale.” gurufocus.com/stock/IQV/summ…

$BBY CEO Corie Barry and CFO Matt Bilunas on why Best Buy is built to commercialize new technology “We commercialize new technology better than anyone.” “The pipeline of innovation is robust and exciting.” “We’re seeing growth in areas like AI devices, handheld gaming, health technology and smart home.” “AI is moving so quickly that now the platforms are writing their own code.” “Marketplace broadens assortment and price points for us.” “The ads business is extremely profitable and scales nicely.” “We feel very confident in our ability to navigate memory cost inflation and tariffs.” gurufocus.com/stock/BBY/summ…

$NDAQ CFO Sarah Youngwood on AI, data moat, and Nasdaq’s long runway “We started early.” “We did put it across our products.” “We are very well architected for it, and it’s just starting.” “Eighty-nine percent of our clients have Gen AI somewhere in their infrastructure, but only 7% really have fully deployed Gen AI.” “We feel very well positioned.” “We feel we have a right to win.” “We are really excited about the path forward.” gurufocus.com/stock/NDAQ/sum…

$MCO Moody’s CEO Robert Fauber on AI, data moat, and why “decision-grade” intelligence matters “There’s more demand for understanding credit and risk than I can remember in a long, long time.” “We have deeply contextualized content with governance and auditability that institutions rely on.” “We’ve curated the world’s largest proprietary default database and use it to calibrate our credit models.” “AI can build a model, but it can’t be calibrated on actual loss data.” “Banks want decision-grade data that is reviewed by regulators and embedded in their processes.” “The more embedded we are, the more secure we are.” gurufocus.com/stock/MCO/summ…

$KKR Robert Lewin on 2026 priorities, fundraising strength, and why KKR sees its model as differentiated “2026 is very much an execution year for us.” “Our Asset Management business plus our Insurance business plus Strategic Holdings, we think, is the winning business model.” “Private wealth remains a really big strategic priority for us, and prudently building our private wealth platforms with vehicles and products that we feel we can be really proud of 10-plus years from now.” “In 2025, we raised a record $129 billion of capital.” “In January, we raised $1.3 billion of K-series capital, up 20% year over year, and in February we raised $1.4 billion.” “Private wealth is not about month-to-month capital raising, it is about building products and vehicles that we are proud of 10-plus years from now.” “We have almost $120 billion of dry powder to invest into dislocation.” “We’re incredibly excited about the Arctos acquisition, and if we did not think we could build that into a $100 billion-plus platform, we would not have done the deal.” gurufocus.com/stock/KKR/summ…

$REGN Marion McCourt and Ryan Crowe on 2026 priorities, EYLEA HD momentum, and pipeline catalysts “We continue to lead in asthma, in nasal polyps, eosinophilic esophagitis, and now COPD and CSU are important growth drivers as well.” “EYLEA HD has been in the market now for over 2 years, we launched in August of 2023, we’re a blockbuster brand, and there’s a lot more potential for the product.” “We talked about high single-digits in terms of EYLEA HD unit growth as we go into the first quarter.” “We do expect to continue to see a double-digit decline in EYLEA as we go into the first quarter because of HD growth and biosimilar competition.” “We feel that this exciting Phase III data from povetacicept firmly establishes our vision for renal ultimately to rival the size of our cystic fibrosis franchise.” “We will complete our rolling submission by the end of this month.” “We do plan to present the full data from the Nimble study next month at AAN.” gurufocus.com/stock/REGN/sum…

$V Jack Forestell on Agentic Commerce and Visa’s Role “I have not stared into a bigger growth opportunity than what we have ahead of us in the development of the agentic web.” “This is about new business models, new transaction flows, and increase in the velocity of money.” “We’re going to see a significant increase in transaction volumes.” “We’re going to see faster digitization of payments.” “This is a moment that was made for us.” “You’re going to want our token technology.” “We spent decades building trust in our brand.” “We’re very optimistic about stablecoins too, but it’s very different from agentic.” “We see ourselves as a bridge from that new settlement infrastructure.” “We are investing heavily in AI across the board.” gurufocus.com/stock/V/summar…