| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q2'26 | July 31, 2026 | 5/12 | 1 high, 4 medium, 2 low flags | 1 | 1 | Call sheet → |
| Q1'26 | April 29, 2026 | 9/12 | 1 high, 3 medium, 3 low flags | 0 | 0 | Call sheet → |
| Q4'25 | February 13, 2026 | 9/12 | 2 medium, 3 low flags | 5 | 0 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q2'26 | Missed | PST to operate at mid-single digit organic growth Only 4% organic growth in Q2, below mid-single digit target |
| Q2'26 | Pending | Expect 400-500 bps of inorganic revenue from M&A in 2026 Current guide implies 2.5% from M&A, tracking below target |
| Q2'26 | Pending | ITS margins to be approximately flat year over year for full year Still down YoY through H1, needs major H2 improvement |
| Q2'26 | Pending | Full year corporate costs of $170 million On track but Q2 spike to $49M raises questions about H2 control |
| Q2'26 | Pending | Expect to recover Middle East delayed orders throughout 2026 No update on the remaining two-thirds of $40M delayed orders from Q1 |
| Q2'26 | Exceeded | Q2 organic revenue expected flattish to slightly up Delivered 4% organic growth vs flattish guide |
| Q1'26 | Pending | Free cash flow to adjusted net income conversion around 95% Q1 seasonally weak but on track for full-year target |
| Q1'26 | Pending | PST margin expansion of triple-digit basis points Q1 down 120 bps but easier comps coming, still tracking to deliver |
| Q1'26 | Pending | ITS margins approximately flat year-over-year for full year Q1 down 220 bps YoY, relying heavily on back-half recovery to deliver |
| Q1'26 | Pending | Price/cost to be positive for full year, neutral in first half Q1 appears neutral as promised, but margin pressure from tariffs continues |
| Q1'26 | Pending | Mid single-digit EPS growth in both first and second half of year Q1 delivered 7% growth, in line with promise but at lower end |
| Q1'26 | Pending | Organic revenue growth of 1% at midpoint for full year 2026 Q1 came in at -2% organic, but management reaffirmed full-year guidance |
| Q4'25 | Delivered | Disciplined M&A execution 16 deals at 9x average multiple, consistent with historical discipline |
| Q4'25 | Exceeded | Strong free cash flow generation Q4 FCF of $462M up 42% sequentially, strong finish |
| Q4'25 | Delivered | 400-500 basis points annual inorganic revenue Added approximately 275 bps from acquisitions, within target range |
| Q4'25 | Pending | Margin expansion trajectory Margins pressured by tariffs but operational improvements visible, timing delayed |
| Q4'25 | Delivered | Book-to-bill above one for full year Finished above one for full year as promised |
| Q4'25 | Delivered | Continued positive organic order growth momentum Delivered low single-digit organic order growth for both Q4 and full year |
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