)
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.
Subsea 7
Subsea 7 (SUBC) investor relations material
Subsea 7 Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary26 Feb, 2026
Executive summary
Q4 adjusted EBITDA reached $477 million, up over 50% year-over-year, with a margin of 24% versus 17% last year.
Full-year adjusted EBITDA was $1.48 billion, up 36% year-over-year, with a margin of 21% compared to 16% in 2024.
Year-end backlog grew to $13.8 billion with a book-to-bill of 1.3x, providing strong visibility into 2026 and beyond.
Board proposes a NOK 13 per share dividend (~$400 million), reflecting confidence in long-term outlook.
Net income rose to $404 million, up from $217 million in 2024, with diluted EPS of $1.38.
Financial highlights
2025 revenue was $7.1 billion, up 4% from 2024, with adjusted EBITDA of $1.48 billion (36% increase) and margin rising to 21% from 16%.
Q4 2025 revenue was $2.0 billion, up 5% year-over-year; adjusted EBITDA margin improved to 24% from 17%.
Net income reached $404 million, up from $217 million in 2024.
Free cash flow for the year was nearly $1.2 billion, with net cash generated from operating activities at $1.5 billion.
Year-end cash and equivalents stood at $970 million; liquidity at $1.6 billion including $600 million in unutilized facilities.
Outlook and guidance
2026 revenue expected between $7.0–7.4 billion, with adjusted EBITDA margin around 22%.
Administrative expenses forecast stable at $340–$360 million; capital expenditure expected at $350–$380 million.
Effective tax rate projected at 30–35%; capital expenditure expected at $350–$380 million.
Q1 2026 expected to show seasonally lower activity in subsea and wind.
High backlog and robust tendering activity support confidence in future performance.
Detail 20K subsea technology's market impact
How does selective bidding impact backlog quality?
What drives the 2026 Capex increase?
Merger impact on Corporate segment loss
Backlog growth for 2027 execution?
2026 capex vs 2025 actuals
Saipem merger: Brazil antitrust impact on H2 2026
New Reel-Lay capacity for 20K pipe projects
Working capital outlook for H1/H2 2026
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Subsea 7 earnings date
Q1 202630 Apr, 2026
Subsea 7
Next Subsea 7 earnings date
Q1 202630 Apr, 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
Subsea 7 S.A. delivers offshore projects and services for the evolving energy industry worldwide. The company provide integrated, tailored solutions including engineering, project management, construction and installation, hook-up and commissioning, umbilical supply and installation, pipelay and subsea construction, diving, ROVs and subsea technologies. This capability is available to all sectors of the oil and gas industry; from major operators through to independent production companies with sizable portfolios of subsea assets for life-of-field operations.
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