| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q3'26 | October 20, 2026 | 9/12 | 2 medium, 1 low flags | 2 | 1 | Call sheet → |
| Q2'26 | July 21, 2026 | 8/12 | 1 high, 4 medium, 3 low flags | 4 | 1 | Call sheet → |
| Q1'26 | April 21, 2026 | 10/12 | 1 high, 4 medium, 1 low flags | 6 | 0 | Call sheet → |
| Q4'25 | January 21, 2026 | 9/12 | 3 medium, 3 low flags | 5 | 0 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q3'26 | Delivered | Buyback run rate expected to pick back up to prior years' levels Buybacks increased to $250M in Q3 from $200M in Q2, consistent with the stated intent to reestablish the prior run rate |
| Q3'26 | Pending | International growth engines target of $2.5-3 billion added annual revenue by 2028, with stated upside Multi-year target not yet due; this quarter management reframed it as 'tracking to our target of $3 billion,' converging toward the high end |
| Q3'26 | Pending | Zeus fleet in Argentina planned to start up in Q4 Reaffirmed as planned for Q4, deadline has not yet arrived |
| Q3'26 | Pending | North Sea stem vessel first operations expected at year end Reaffirmed this quarter as still on track for year end, deadline has not yet arrived |
| Q3'26 | Pending | Q3 net interest expense to increase about $5 million Actual not stated on the call; no net interest expense figure given in current transcript |
| Q3'26 | Mixed | Q3 SAP S4 expenses of about $45 million Issuer release reports $42M spent on SAP S4 versus about $45M expense guidance. Spending and expense may differ; reconcile their scope before marking delivered. |
| Q3'26 | Pending | Q3 effective tax rate approximately 19% Actual not stated on the call; no Q3 tax rate figure was disclosed in the current transcript |
| Q3'26 | Exceeded | Q3 D&E division: sequential revenue down 3-5%, margins improve 25-75bps Management stated D&E delivered 'better than expected revenue and operating margins' due to favorable mix and higher incremental margins |
| Q3'26 | Missed | Q3 C&P division: sequential revenue flat to down 2%, margins improve 125-175bps Management explicitly stated C&P revenue and operating margins were 'both below our expectations', driven by NA frac, Argentina, and a slower Saudi contract startup |
| Q2'26 | Pending | Focus on returns over market share in NAM Moving equipment internationally suggests following through, but pricing gains described as 'steady march' not aggressive |
| Q2'26 | Missed | Software business would see continued growth from strategic wins No software revenue disclosed, described as 'seasonal' not growth |
| Q2'26 | Delivered | Maintain capital discipline with 5-6% of revenue CapEx $1.1B guidance maintained at ~5% of revenue |
| Q2'26 | Delivered | Deploy Zeus internationally with first in Argentina YPF contract announced, fleet mobilizing for Q4 start |
| Q2'26 | Exceeded | International ex-Middle East growth of mid-to-high single digits Now guiding low double digits, ahead of their own expectations |
| Q2'26 | Delivered | North America would see early signs of recovery with white space filling Q2 white space gone, Q3/Q4 firming up as promised |
| Q1'26 | Delivered | Focus on returns over market share in NAM Continuing fleet stacking strategy, moving equipment to better returns internationally - consistent execution |
| Q1'26 | Delivered | Zeus technology adoption growth Reported 8% customer adoption increase in Q4, now deploying internationally with YPF - on track |
| Q1'26 | Exceeded | VoltaGrid international expansion Secured 400 megawatts manufacturing capacity and has active pipeline - concrete progress beyond expectations |
| Q1'26 | Delivered | $1.1 billion CapEx for 2026 Reiterated guidance, though Q1 actual was lower due to equipment delivery delays |
| Q1'26 | Delivered | 2026 will be a year of rebalancing Miller now says macro changed in 'last sixty days' with conflict making market 'fundamentally tighter' - thesis playing out |
| Q1'26 | Pending | North America revenue decline high single digits in 2026 Still guiding to decline but now sees 'early signs of recovery' - tone much more optimistic |
| Q1'26 | Exceeded | International revenue flat to up modestly in 2026 Upgraded to 'mid- to high-single digits' growth outside Middle East - delivered better visibility |
| Q4'25 | Delivered | Focus on returning cash to shareholders Maintained $250M quarterly buyback pace, returned 85% of free cash flow |
| Q4'25 | Delivered | Zeus electric fleets would see continued adoption Now over half of active North America fleet, with Zeus IQ adoption up 8% |
| Q4'25 | Delivered | Cost reduction actions to save approximately $100 million per quarter Confirmed savings beginning Q4, reflected in improved margins |
| Q4'25 | Exceeded | VoltaGrid international partnership would be important long-term opportunity Moved from 'expect opportunity' to signed agreement with 400MW capacity |
| Q4'25 | Pending | International revenue to be flat to up modestly in 2026 Reiterated same guidance, no change from Q3 expectations |
| Q4'25 | Delivered | Capital spending in 2026 to decline by almost 30% to around $1 billion Q4 confirmed $1.1B guidance, close to the ~$1B promise |
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