| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q3'26 | August 26, 2026 | 7/12 | 2 medium, 2 low flags | 1 | 0 | Call sheet → |
| Q2'26 | May 27, 2026 | 9/12 | 4 medium, 4 low flags | 3 | 0 | Call sheet → |
| Q1'26 | February 25, 2026 | 11/12 | 2 medium, 4 low flags | 2 | 0 | Call sheet → |
| Q4'25 | November 24, 2025 | 10/12 | 3 medium, 4 low flags | 3 | 3 | Call sheet → |
| Q3'25 | August 27, 2025 | 10/12 | 2 medium, 7 low flags | 3 | 1 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q3'26 | Exceeded | Strategic pricing to deliver ~200 bps of margin expansion each quarter (Q2) Q3 pricing contributed ~200 bps again, matching the promise |
| Q2'26 | Delivered | Full tariff mitigation by H2 Achieved full mitigation in Q2, ahead of schedule |
| Q2'26 | Pending | China flattish for full year H1 was flat but Q2 down 9%, needs recovery in H2 |
| Q2'26 | Pending | First reshoring orders late this year Maintained but pushed to 'end of fiscal year' from 'late this year' |
| Q2'26 | Delivered | 75 basis points operating margin expansion at midpoint Now guiding to 85 bps expansion, 10 bps improvement |
| Q2'26 | Exceeded | Pricing growth of at least 100 basis points for full year Already at 200 bps in Q2, raising to exceed initial goal |
| Q2'26 | Pending | We expect mid-teens growth for specialty CDMO in FY26 Q2 at high single digits, needs acceleration in H2 to hit target |
| Q1'26 | Pending | First orders from pharma reshoring to book late this year Reaffirmed timing, expects orders in Q4 with revenue impact in FY27+ |
| Q1'26 | Exceeded | China flat assumption for FY 2026 China up 6% in Q1 vs flat expectation, driven by small stimulus spending |
| Q1'26 | Delivered | 4% to 6% core growth for full year Q1 at 4.4% puts them in range, weather-adjusted would be above midpoint |
| Q1'26 | Pending | Full mitigation of existing tariffs over the course of the year Still on track per management, expects full mitigation by second half |
| Q1'26 | Pending | 75 basis points of operating margin expansion at midpoint Down 50 bps in Q1 but expected due to seasonality and tariff timing |
| Q1'26 | Pending | Mid-teens growth for specialty CDMO for the year Still guiding mid-teens for full year despite low double-digit Q1, requires acceleration |
| Q4'25 | Missed | Fourth quarter EPS guidance of $1.57 to $1.60 Came in at $1.59, at high end but below what strong revenue performance should have delivered. |
| Q4'25 | Delivered | BioVectra capacity increases implemented in Q3 enabled Q4 growth Enabled 'record fourth quarter' though revenue shifted within quarter to October. |
| Q4'25 | Missed | Significant sequential margin improvement in Q4 of approximately 230 basis points Delivered 210 bps sequential improvement, short of 230 bps guided due to higher variable pay. |
| Q4'25 | Exceeded | Q4 to be our largest revenue quarter of the year, with core growth of 5.4% Delivered 7.2% core growth, well above the 5.4% guided, with $1.86B revenue. |
| Q4'25 | Exceeded | We still expect that we will fully mitigate the impact of tariffs in FY '26 Upgraded language to 'highly confident' and expect full mitigation with tariff headwinds peaking in Q4. |
| Q4'25 | Missed | Continue to expect a more meaningful stimulus impact towards the end of this calendar year primarily in our applied markets Only expecting $10M in FY26, much smaller than 'meaningful impact' suggested. Excluded from guidance. |
| Q3'25 | Pending | $80 million of annualized savings from organizational efficiency starting in second half In progress with management layer reduction of 15%+ mentioned |
| Q3'25 | Pending | Fully mitigate tariff costs in fiscal 2026 Maintained commitment but tariff exposure increased due to higher volumes |
| Q3'25 | Missed | China 10% growth exceeding our expectation in Q2 China slowed to 4% growth in Q3 vs 10% in Q2 |
| Q3'25 | Delivered | BIOVECTRA business performed well, exceeding guidance Continued strong performance though planned Q4 facility shutdown mentioned |
| Q3'25 | Exceeded | Double digit growth from NASD in the second half of the year NASD grew 'high twenties' in Q3, well above double-digit promise |
| Q3'25 | Exceeded | Core growth rate of 2.5% to 3.5% for full year 2025 Delivered 6.1% in Q3, guided to 4.5% for full year - well above original range |
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