)
Edge20 Feb 2026
Dollar General: The Rural Retailer Playbook
How Dollar General built a small-box empire across rural America, scaling value and convenience into one of retail's most durable business models.
International Consolidated Airlines Group
International Consolidated Airlines Group (IAG) investor relations material
International Consolidated Airlines Group Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary27 Feb, 2026
Executive summary
Delivered record financial results for 2025, including all-time highs in operating profit (€5,024m), margin (15.1%), and return on invested capital (18.5%), driven by strong demand and operational improvements.
Total revenue grew to €33,213m, up 3.5% year-over-year, with transformation initiatives and disciplined capital allocation underpinning sector-leading results.
Achieved significant improvements in punctuality and customer satisfaction, with investments in operational and customer experience across all airlines.
Announced €1.5 billion in excess cash returns to shareholders, an increase from the prior year’s €1 billion buyback, and dividend per share increased by 8.9%.
Maintained a positive outlook, supported by robust demand and a resilient, diversified business model.
Financial highlights
Record operating profit of €5,024 million, up €581 million year-over-year, with a 15.1% operating margin, 1.3 points higher than last year.
Adjusted EPS rose 22.4% to 69.5 euro cents, with adjusted profit after tax up 17% to €3.3 billion.
Free cash flow reached €3,146 million after €3.4 billion in capital investments.
Net debt leverage at 0.8x, liquidity over €10 billion, and net debt reduced to €5,948 million.
Three-year total shareholder return (TSR) of 255%.
Outlook and guidance
Expecting capacity growth of around 3% in 2026, with continued strong demand in North and South Atlantic and Latin America.
Non-fuel unit costs projected to decline by around 1% in 2026, with a 2% benefit from FX.
CapEx to rise to €3.6 billion in 2026, with further increases to €4.9 billion (2027–2028) and €5.6 billion (2029–2031) as delayed aircraft deliveries materialize.
Committed to maintaining net leverage below 1.8x and gross debt leverage between 1.5x–2x.
Dividend for 2025 set at €448 million, with intention to grow in line with inflation and further excess cash returns planned.
Impact of HMRC VAT dispute on IAG Loyalty
How will rising capex impact future net leverage?
Underlying non-fuel unit cost trend for FY26
How will rising CapEx affect future free cash flow?
Timeline for resolving engine availability issues?
Mitigate US direct capacity growth into hubs
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next International Consolidated Airlines Group earnings date
Q1 20268 May, 2026
International Consolidated Airlines Group
Next International Consolidated Airlines Group earnings date
Q1 20268 May, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
International Consolidated Airlines Group S.A. is a multinational airline holding company that owns and operates several airline brands, including British Airways, Iberia, and Vueling. It provides passenger and cargo air transport services globally. The company is headquartered in Madrid, Spain, and its shares are listed on the BME.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage