Cohen & Company Inc. (COHN) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to Cohen and Company's fourth quarter 2025 earnings conference call. My name is Robert, and I'll be your operator today. Before we begin, Cohen and Company would like to remind everyone that some of the statements the company makes during this call may contain forward-looking statements under applicable security laws. These statements may involve risk and uncertainties that could cause the company's actual results to differ materially from the results discussed in such forward-looking statements. The forward-looking statements made during this call are made only as of the date of this call and the company undertakes no obligation to update such statements to reflect subsequent events or circumstances. Cohen and Company advise you to read the questionnaire note regarding forward-looking statements in its earnings released and its most recent annual report on Form 10-K filed with the SEC. Earlier today, Cohen and Company issued a press release announcing fourth quarter and full year 2025 financial results. Today's discussion is complementary to that press release, which is available on the company's website at Cohen, C-O-H-E-N-A-N-D, company, C-O-M-P-A-N-Y.com. This conference call is being recorded and a replay of it will be available for three days beginning shortly after the conclusion of this call. The company's remarks also include certain non-GAAP financial measures that management believes are meaningful when evaluating the company's performance. A reconciliation of these non-GAAP financial measures to the comparable GAAP measures is provided in the company's earnings release. After the prepared remarks, the call will be opened up for questions. I would now like to turn the call over to your host, Mr. Lester Brothm...