| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q3'26 | October 21, 2026 | 10/12 | 3 medium flags | 2 | 0 | Call sheet → |
| Q2'26 | July 23, 2026 | 6/12 | 1 high, 4 medium, 3 low flags | 2 | 0 | Call sheet → |
| Q1'26 | April 23, 2026 | 9/12 | 1 medium, 5 low flags | 3 | 2 | Call sheet → |
| Q4'25 | 2026-01-29 | 7/12 | 4 medium, 3 low flags | 5 | 2 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q3'26 | Pending | We grew 3% organically in the first half... and expect that to step up to 4% for the second half with both quarters being similar in terms of organic revenue growth. Q3 organic growth of 6% exceeded the earlier 4% quarterly assumption. H2 is not complete: management now expects 5% H2 growth, with Q4 still guided to 4%. |
| Q3'26 | Delivered | Divestiture of the microbiology business expected to close in the third quarter. Management confirmed the divestiture was completed during the quarter, with $1B in proceeds received. |
| Q3'26 | Exceeded | We expect Q3 adjusted EPS to be $0.35 to $0.40 higher than in Q2. Adjusted EPS increased $0.65 sequentially versus a guided $0.35-$0.40 increase. The Q3 result includes $0.15 from net tariff refunds. |
| Q2'26 | Pending | Would actively manage to mitigate inflation pressures Delivered strong margins in Q2 but hedging on H2 inflation |
| Q2'26 | Delivered | End markets would prove resilient despite macro complexity All four end markets grew or improved sequentially |
| Q2'26 | Pending | Academic & Government would improve modestly over time Returned to growth but not calling it sustained yet |
| Q2'26 | Delivered | Would see biotech spending pick up as year progressed Confirmed biotech clearly we saw spending pick up |
| Q2'26 | Pending | Pharma Services would deliver much stronger growth in H2 Q2 was 'modest growth', now saying H2 'steps up meaningfully' |
| Q2'26 | Pending | Clario would add $900M revenue and $0.32 EPS for full year On track per Q2 comments but only 1 quarter of ownership so far |
| Q1'26 | Delivered | Clario transaction to close by 2026 Closed in late March 2026, slightly ahead of expectation |
| Q1'26 | Delivered | Clinical research business to return to growth Delivered mid-single-digit growth in Q4 and strong growth in Q1 |
| Q1'26 | Pending | Academic and government to see greater stability improving modestly Still seeing low single-digit declines, funding flows started improving in Q1 |
| Q1'26 | Missed | 6-8% adjusted EPS growth for 2025 Delivered 5% growth, cited macro headwinds and tariff impacts |
| Q1'26 | Delivered | 50 basis points of adjusted operating margin expansion for 2025 Achieved 10bps expansion despite 100bps+ tariff headwinds |
| Q1'26 | Missed | 2025 full year organic growth of 3-4% Delivered 2% organic growth, though pandemic roll-off was cited as ~1% headwind |
| Q4'25 | Exceeded | Recent acquisitions would be modestly dilutive in near term Now expecting $0.07 dilution vs earlier modest expectations |
| Q4'25 | Delivered | China conditions would stabilize, expecting mid to high single digit declines for 2025 Delivered mid-single digit decline as guided |
| Q4'25 | Missed | Academic/government would improve as budget uncertainty resolved Maintained assumption of similar weak conditions despite budget progress |
| Q4'25 | Missed | 2025 guidance framework of 3-6% organic growth for 2026-2027 period Cut 2026 guidance to 3-4%, effectively lowered framework |
| Q4'25 | Delivered | Would continue to actively manage cost base through PPI business system Delivered 50-100 bps margin expansion despite headwinds |
| Q4'25 | Delivered | Filtration business integration progressing smoothly with positive customer feedback Management confirmed smooth integration and customer satisfaction |
| Q4'25 | Delivered | Clinical research business would show steady progression quarter over quarter, returning to growth in Q3 Delivered low single-digit growth in Q3 and mid-single digit in Q4 as promised |
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