T. Rowe Price Group, Inc. (TROW) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. My name is Daniel, and I will be your conference facilitator today. Welcome to T. Rowe Price's fourth quarter 2025 earnings conference call. All participants will be in listen-only mode until the question and answer period. I will give you instructions on how to ask questions at that time. As a reminder, this call is being recorded and will be available for replay on T. Rowe Price's website shortly after the call concludes. I'll now turn the call over to Lindsley Carruth, T. Rowe Price's Director of Investor Relations. Hello, and thank you for joining us today for our fourth quarter earnings call. The press release and the supplemental materials document can be found on our IR website at investors.troweprice.com. Today's call will last approximately 45 minutes. Our Chair, CEO, and President Rob Sharps and CFO, Jen Dardis, will discuss the company's results for about 15 minutes. Then we'll open it up to your questions. at which time we'll be joined by our head of global investments, Eric Bile. We ask that you limit it to one question per participant. I'd like to remind you that during the course of this call, we may make a number of forward-looking statements and reference certain non-GAAP financial measures. Please refer to the forward-looking statement language and the reconciliations to GAAP in the supplemental materials as well as in our press release. Discussions related to the funds is intended to demonstrate their contribution to the organization's results and are not recommendations. All investment performance references to peer groups on today's call are using Morningstar peer groups and for the quarter that ended December 31st, 2025. Now I'll turn it over to Rob. Thank you, Lindsley, and thank you all for joining today's call. 2025 brought a th...