| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q3'26 | August 18, 2026 | 8/12 | 1 high, 3 medium, 2 low flags | 2 | 0 | Call sheet → |
| Q2'26 | May 19, 2026 | 6/12 | 3 high, 4 medium, 1 low flags | 3 | 0 | Call sheet → |
| Q1'26 | February 23, 2026 | 11/12 | 6 low flags | 4 | 0 | Call sheet → |
| Q4'25 | November 24, 2025 | 9/12 | 2 medium, 4 low flags | 6 | 0 | Call sheet → |
| Q3'25 | August 19, 2025 | 9/12 | 4 medium, 3 low flags | 3 | 2 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q3'26 | Pending | FY2026 CapEx raised to approximately $200M to aid supply ramp Fiscal year is not complete; actual full-year CapEx spend was not reconfirmed on this call. |
| Q3'26 | Pending | Acquisitions expected to contribute $375M FY2026 revenue and >$100M cost synergies with 80% realized on a run-rate basis exiting the fiscal year Management now says 'direct line of sight to the hundreds' with an explicit refusal to quantify further; the $375M revenue contribution was not independently confirmed on this call, and FY26 is not yet complete. Unverified. |
| Q3'26 | Exceeded | Q3 2026 EPS guided to $2.43-$2.49, 43% YoY at midpoint Actual EPS of $3.07 blew through the top end of the range. |
| Q3'26 | Exceeded | Q3 2026 revenue guided to $1.73B-$1.75B, 29% YoY at midpoint Actual Q3 revenue came in at $1.846B, up 36% reported/31% core, above the top end of the guided range. |
| Q3'26 | Pending | FY26 revenue growth guided to high-20s percent Guidance subsequently raised to 32% full-year growth, a revision upward, not a completed delivery, since FY26 (Q4) is not yet finished. |
| Q2'26 | Delivered | Sustained momentum in Q2 Q2 beat high end of guide significantly |
| Q2'26 | Pending | Acquisitions to be accretive to operating margin after synergies Still dilutive; timeline for accretion not specified |
| Q2'26 | Delivered | 40% core leverage on mid-single digit growth 49% leverage achieved but on much higher growth; not tested at target growth |
| Q2'26 | Pending | $100M in run rate cost synergies Claims on track with 80% by year end but no quarterly milestones |
| Q2'26 | Pending | $375M in acquisition revenue for FY26 Reaffirmed but no color on pacing; H1 contribution not disclosed |
| Q2'26 | Exceeded | Expect total annual revenue and earnings growth just above 20% for FY26 Now guiding to high-20s% revenue growth for the year |
| Q1'26 | Delivered | Strong momentum carrying into 2026 Q1 results well above high end of guidance across all metrics |
| Q1'26 | Pending | Acquisitions accretive to earnings 12 months post-close Reaffirmed timeline, mild dilution expected in FY 2026 as planned |
| Q1'26 | Delivered | 40% core operating leverage on mid-single digit or better growth Delivered 41% leverage on 14% core growth while absorbing tariffs |
| Q1'26 | Exceeded | August tariff impact fully mitigated Achieved full mitigation in Q1, one quarter ahead of previous guidance |
| Q1'26 | Pending | $375M acquisition revenue contribution in FY 2026 Reaffirmed target, tracking on plan with Q1 showing $22M orders/$11M revenue |
| Q1'26 | Exceeded | FY 2026 revenue growth excluding acquisitions to be at or above high end of 5-7% target Delivered 14% core growth in Q1, raised full-year to 'just above 20%' total |
| Q4'25 | Delivered | Return capital to shareholders through buybacks $375M in buybacks for full year, authorized additional $1.5B program. |
| Q4'25 | Delivered | Continue raising full year growth outlook Raised outlook again in Q4 after Q2 and Q3 raises. |
| Q4'25 | Delivered | Close Spirent acquisition in fiscal Q4 Transaction closed as expected. |
| Q4'25 | Delivered | Generate strong free cash flow with operational flexibility Record $1.3B FCF despite $1.7B acquisition spend. |
| Q4'25 | Exceeded | Mitigate August tariff increase within first half of FY 2026 Now expecting Q1 mitigation, one quarter early. |
| Q4'25 | Delivered | Fully mitigate April tariffs by Q1 On track as promised. |
| Q3'25 | Delivered | Continued strength in aerospace defense pipeline A&D orders grew with specific EU wins highlighted |
| Q3'25 | Delivered | Strong fourth quarter seasonal uplift Q4 guide implies sequential growth, maintaining seasonal pattern |
| Q3'25 | Missed | Spirent acquisition closing in Q3 Now expects Q4 closing due to regulatory review timing |
| Q3'25 | Pending | 40% incremental margins on growth above 5% Neil said overachieving 40% when stripping out tariff impact |
| Q3'25 | Exceeded | Revenue growth at midpoint of 5%-7% range for FY25 Now guiding to 7% growth at midpoint, raised twice this year |
| Q3'25 | Missed | Full mitigation of April tariffs by Q1 FY25 Timeline pushed to 'within first half of FY26' - significant delay |
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