| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q2'26 | July 29, 2026 | 4/12 | 2 high, 3 medium, 1 low flags | 3 | 2 | Call sheet → |
| Q1'26 | 2026-04-29 | 8/12 | 1 high, 4 medium, 2 low flags | 2 | 3 | Call sheet → |
| Q4'25 | February 4, 2026 | 10/12 | 2 medium, 4 low flags | 5 | 1 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q2'26 | Delivered | Launch AI‑enabled Vivid Pioneer ultrasound with higher margin (Q1) Management cites higher gross margin, but no numbers disclosed. |
| Q2'26 | Delivered | Repay $500 M of debt in Q1 (Q1) Debt repayment confirmed. |
| Q2'26 | Missed | Adjusted EBIT margin 15.4‑15.7% FY2026 (Q1) Current margin 14.2% (down 40bps YoY), well below guidance. |
| Q2'26 | Missed | Free cash flow target $1.6 B for FY2026 (Q1) Q2 free cash flow $68 M; cumulative FY still far below target. |
| Q2'26 | Partial | Offset >50% of $250 M inflation impact via price/cost actions (Q1) Only modest offset observed; full benefit expected in H2, not yet realized. |
| Q2'26 | Delivered | Mid‑single‑digit organic growth for 2026 (Q1) Q2 organic growth 3.5% YoY, within the 3‑4% guidance range. |
| Q2'26 | Pending | Regulatory clearances for Photonova Spectra in US & Japan (Q1) Clearances achieved, but CE marking delayed to H2 2026; still no market launch. |
| Q1'26 | Pending | China performance to be cautious/down in 2026 Q1 was in line with expectations and improved sequentially - tracking as guided |
| Q1'26 | Exceeded | Flyrcado weekly dose rate to continue increasing throughout 2025 From 220 weekly in January to 390 in April - 77% increase in 12 weeks |
| Q1'26 | Delivered | Tariff impact in 2026 to be less than 2025 Q1 had largest impact and should decline through year per Jay's comments |
| Q1'26 | Missed | Free cash flow of approximately $1.7B for 2026 Cut to $1.6B entirely due to profit reduction - no operational improvements to offset |
| Q1'26 | Missed | Adjusted EPS of $4.95 to $5.15 for 2026 Cut to $4.80-5.00 - inflation impact larger than initially modeled |
| Q1'26 | Missed | Adjusted EBIT margin of 15.8% to 16.1% for 2026 Cut to 15.4-15.7% due to inflation - failure to hedge commodity exposure |
| Q1'26 | Pending | Expect organic revenue growth of 3% to 4% for 2026 Maintained in Q1 but Q1 came in at high end, suggesting full year may be achievable |
| Q4'25 | Delivered | Mid-single digit organic growth medium-term target intact Reaffirmed medium-term targets despite near-term headwinds |
| Q4'25 | Exceeded | Record backlog to support sales growth Delivered record $21.8B backlog, up $2B year-over-year |
| Q4'25 | Delivered | Photon Counting regulatory timeline on track Management confirmed all regulatory timelines for RSNA products on track |
| Q4'25 | Missed | Florcado $30 million revenue in 2025 Explicitly said 'we're going to be short of the 30 million' for 2025 |
| Q4'25 | Pending | Lower net tariff impact in 2026 vs 2025 Reaffirmed this target, claiming tariffs will be tailwind in 2026 |
| Q4'25 | Delivered | Meaningful sequential improvement in PCS EBIT margin in Q4 PCS margin improved 530 bps sequentially after product hold resolution |
| Q4'25 | Delivered | Second half China sales being lower than first half China declined in Q4 as predicted, management called this correctly |
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