The Carlyle Group Inc. (CG) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.477 press star 11 again. As a reminder, this call may be recorded. 00:00:04.477 -- 00:00:08.082 I would like to turn the call over to Daniel Harris, head of investor relations. 00:00:08.082 -- 00:00:10.442 Please go ahead. 00:00:11.166 -- 00:00:15.632 Thank you, Michelle. Good morning and welcome to Carlisle's fourth quarter and full year 00:00:15.632 -- 00:00:20.318 2025 earnings call. With me on the call this morning is our chief executive officer, 00:00:20.318 -- 00:00:23.963 Harvey Schwartz, and our chief financial officer, Justin Plouffe. 00:00:23.963 -- 00:00:27.227 Earlier this morning, we issued a press release and a detailed earnings presentation, 00:00:27.227 -- 00:00:29.917 which is available on our investor relations website. 00:00:29.917 -- 00:00:32.982 This call is being webcast and a replay will be available. 00:00:32.982 -- 00:00:36.688 We will refer to certain non-GAAP financial measures during today's call. 00:00:36.688 -- 00:00:41.795 These measures should not be considered in isolation from or as a substitute for measures 00:00:41.795 -- 00:00:45.101 prepared in accordance with generally accepted accounting principles. 00:00:45.101 -- 00:00:48.306 We have provided reconciliation of these measures to GAAP in our earnings release to 00:00:48.306 -- 00:00:50.789 the extent reasonably available. 00:00:50.789 -- 00:00:54.635 Any forward-looking statements made today do not guarantee future performance and undue 00:00:54.635 -- 00:00:58.577 reliance should not be placed on them. These statements are based on current management 00:00:58.577 -- 00:01:03.063 expectations and involve inherent risks and uncertainties, including those identified 00:01:03.063 -- 00:01:08.230 in the risk factor section of our annual report on For...