| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q2'26 | August 6, 2026 | 5/12 | 1 high, 3 medium, 2 low flags | 0 | 1 | Call sheet → |
| Q1'26 | May 7, 2026 | 6/12 | 3 high, 5 medium, 2 low flags | 1 | 3 | Call sheet → |
| Q4'25 | February 12, 2026 | 8/12 | 4 medium, 2 low flags | 5 | 0 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q2'26 | Pending | Next-generation pipeline (blockbuster portfolio) 'expect to begin delivering significant value for the end of '27 and into '28' Multi-year timeline not yet due; no update this quarter beyond reiterating '12 potential blockbusters'. |
| Q2'26 | Missed | Librela 'has stabilized in the U.S. with roughly flat growth' This quarter's Canine OA pain mAbs fell $34 million, down 24%, directly reversing the stabilization claim from last quarter. |
| Q2'26 | Pending | Aggregate full-year price contribution of 1% to 2% Management now frames the range as potentially 0% to -2% at the low end of guidance, a revision down but period (fiscal year) has not ended. |
| Q2'26 | Pending | Full-year 2026 revenue growth of 2% to 5% and adjusted net income growth of 2% to 6% Fiscal year not yet ended; guidance was cut sharply this quarter to a 3% to 1% revenue decline and 9% to 5% ANI decline, a material downward revision rather than a resolved miss. |
| Q1'26 | Delivered | Simparica franchise to maintain leadership despite competition Share recovered sequentially, puppy share stable. Met commitment despite revenue decline |
| Q1'26 | Missed | Price contribution of 2% to 3% range Delivered only 2% in Q1, guided to 1-2% range going forward. Permanent pricing power impairment |
| Q1'26 | Missed | Macro environment to gradually improve through 2026 Now expect challenging environment to persist for remainder of year. Complete reversal of prior optimism |
| Q1'26 | Pending | 3% to 5% organic operational revenue growth for 2026 Q1 flat performance makes full-year target mathematically challenging. Reaffirmed guidance but lowered confidence |
| Q1'26 | Missed | Navigate competitive launches through differentiated portfolio Key dermatology down -11%, Simparica down -1%. Competition caused more damage than expected without market expansion benefit |
| Q1'26 | Pending | Return Librela to growth with multipronged strategy Still declining -22% in U.S. but sequential improvement claimed. Moved goalposts to 'stabilizing trends' vs growth |
| Q4'25 | Pending | Advance Phase IV research for Librela to build veterinarian confidence Beginning Q4 2025, through independent third-party studies |
| Q4'25 | Delivered | Drive growth through alternative channels and omnichannel strategy Alternative channels delivered double-digit growth throughout year |
| Q4'25 | Mixed | Navigate competitive promotional environment with disciplined execution Maintained share but growth decelerated significantly in key franchises |
| Q4'25 | Delivered | Livestock growth above market for third consecutive year Achieved 8% organic operational growth in livestock for full year |
| Q4'25 | Delivered | Continue advancing innovation pipeline on or ahead of schedule Delivered Lanivia approval in Canada, Portela approval in EU |
| Q4'25 | Pending | Return Librela to growth through multipronged strategy Still declining but claim 'stabilizing trends' - moved timeline to 2026 |
| Q4'25 | Delivered | Organic operational adjusted net income growth of 5.5% to 7% Achieved 7% organic operational growth in adjusted net income |
| Q4'25 | Delivered | Full year organic operational revenue growth of 5.5% to 6.5% Delivered 6% organic operational growth, at high end of November guidance range |
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