| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q2'26 | July 30, 2026 | 6/12 | 3 medium, 3 low flags | 4 | 1 | Call sheet → |
| Q1'26 | April 30, 2026 | 11/12 | 2 medium, 4 low flags | 4 | 0 | Call sheet → |
| Q4'25 | February 5, 2026 | 9/12 | 1 medium, 4 low flags | 5 | 0 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q2'26 | Exceeded | 100-150 bps full year OR improvement Now guiding to 'at least 200 bps' |
| Q2'26 | Exceeded | European EBITDA growth to accelerate Grew to $48M from $33M, strong acceleration |
| Q2'26 | Delivered | Productivity above 1.5% target 2.5% achieved but down from 4% in Q1 |
| Q2'26 | Pending | P&D optimization to reach full network by year-end Now at 'more than two-thirds', on track but slowing rollout |
| Q2'26 | Delivered | Yield and revenue per shipment to accelerate in Q2 Yield ex-fuel up 4.4% vs 4.0% in Q1, slight acceleration |
| Q2'26 | Missed | Q2 OR to outperform high end of 250-300 bps sequential improvement OR improved 390 bps sequentially but this was actually at the high end, not above it |
| Q1'26 | Exceeded | Structural cost advantages through productivity gains and technology 4% productivity vs 1.5% target, AI delivering measurable results |
| Q1'26 | Pending | OR improvement of 100-150bps for 2026 Q1 delivered -200bps improvement, ahead of pace for full year |
| Q1'26 | Delivered | Above-market pricing growth driven by service improvements and mix Yield up 4% vs industry norms, contract renewals accelerating |
| Q1'26 | Exceeded | Continue to drive profitable growth by increasing shipments and improving network density Shipments up 3% YoY, tonnage turned positive, ahead of expectations |
| Q1'26 | Delivered | Expand AI route optimization to nearly half of service centers in Q1 Confirmed deployed to half network with tangible efficiency gains |
| Q1'26 | Pending | Meaningful step-up in free cash flow generation in 2026 Q1 FCF of $79M on track for annual acceleration, but seasonal so unclear |
| Q4'25 | Pending | Ongoing productivity improvements from AI 1.5 points for full year vs 2.5 points in Q3 - mixed results, blame on timing |
| Q4'25 | Delivered | Revenue per shipment to increase sequentially for 12th consecutive quarter Confirmed 12th consecutive quarter of sequential revenue per shipment growth |
| Q4'25 | Delivered | Continue above-market yield growth 5.2% yield ex-fuel vs industry averages, though decelerated from 5.9% in Q3 |
| Q4'25 | Delivered | Sequential OR improvement from Q3 to Q4 Confirmed they outperformed normal 250bps seasonal deterioration |
| Q4'25 | Exceeded | Full year 100 basis points of OR improvement Appears to have exceeded based on Q4 acceleration, though full year number not explicitly disclosed |
| Q4'25 | Delivered | Materially outperform Q4 seasonality on OR improvement Delivered 180bps YoY improvement vs typical 250bps seasonal deterioration |
Get free previews of our earnings-call research: the key changes, management scores, and questions worth investigating. Subscribe for full call sheets and deeper analysis.
Subscriptions are managed by Substack. If the form does not load, subscribe directly. Or follow the RSS feed.