| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q2'26 | July 14, 2026 | 6/12 | 3 high, 4 medium, 1 low flags | 0 | 4 | Call sheet → |
| Q1'26 | April 13, 2026 | 10/12 | 1 medium, 7 low flags | 4 | 0 | Call sheet → |
| Q4'25 | January 20, 2026 | 8/12 | 3 medium, 4 low flags | 4 | 1 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q2'26 | Pending | 250 new national account signings for 2026 Tracking but no specific Q2 number provided |
| Q2'26 | Pending | International maintaining 20%+ growth trajectory Stopped disclosing international growth after March, concerning silence |
| Q2'26 | Missed | Maintain mid-20s incremental margins at current growth Q2 incremental margin only 21.5%, Florness admitted disappointment |
| Q2'26 | Missed | Continue FMI device acceleration Signings decelerated from 110/day to 109/day |
| Q2'26 | Missed | Digital footprint to reach 66% by year-end 2026 Formally lowered target to 63-64%, first major target miss acknowledged |
| Q2'26 | Missed | Achieve price/cost neutrality by mid-2026 Still 40bps negative in Q2, only improved 10bps QoQ despite aggressive efforts |
| Q1'26 | Delivered | Strong cash generation and disciplined capital allocation Generated $378M operating cash flow (111% of net income) and returned $296M to shareholders (87% of net income) |
| Q1'26 | Delivered | Continue to see solid engagement across customer base Contract customer count up 8% YoY, $50k+ sites up 16.3% YoY, demonstrating continued customer engagement |
| Q1'26 | Delivered | Fastener expansion project benefits will anniversary early in Q2 Confirmed the project anniversaries after Q1, eliminating a gross margin tailwind going forward |
| Q1'26 | Pending | Price/cost neutrality plateau around midyear Still targeting midyear but acknowledging they 'lost traction' in Q1 and missed internal gross margin target by 40bps |
| Q1'26 | Pending | CapEx expected to be approximately 3.5% of net sales for 2026 Confirmed $320M CapEx target for 2026, consistent with prior guidance |
| Q1'26 | Delivered | Double-digit net sales growth in 2026 supported by FMI technology and digital solutions Achieved 12.4% daily sales growth in Q1, maintaining double-digit pace from Q4 with FMI contributing 45% of sales |
| Q4'25 | Delivered | Double-digit growth momentum continuation Achieved 11% daily sales growth in Q4, second consecutive double-digit quarter |
| Q4'25 | Exceeded | Continue strong contract signings pace through 2025 Added 241 contract customers, 7% growth described as healthy |
| Q4'25 | Delivered | Capital spending in range of $235-255 million for 2025 Came in at $230 million, within guided range |
| Q4'25 | Delivered | Additional pricing actions necessary in 2025 Implemented August pricing addressing July tariffs |
| Q4'25 | Pending | Gross margin flat year-over-year for 2025 Sheryl confirmed flat for full year but Q4 gross margin not disclosed |
| Q4'25 | Missed | Price to contribute 3% to 5% by end of 2025 Ended up at 3.1-3.4% in Q4, below promised range and revised down from 5-8% |
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