Quarterly Sales Growth
Q4 sales of $1.1 billion; local-currency sales up 5% (4% excluding previously communicated acquisitions); reported U.S. dollar sales up 8%.
Geographic Strength
Local-currency sales growth by region in Q4: Americas +7% (includes 3% benefit from acquisitions), Europe +4%, Asia/Rest of World +4%, China +3%.
Product Area Outperformance
Q4 growth by product: Product Inspection strong (reported growth 7%; management later noted 11% reported / 7% organic), Food Retail +19%, Industrial +7% (3% acquisition benefit; core Industrial +2% excluding acquisitions), Laboratory +3%, Service +8% (6% organic).
Adjusted EPS and Reported EPS
Q4 adjusted EPS $13.36, up 8% year-over-year; reported EPS $13.98 versus $11.96 prior year. Full-year adjusted EPS increased 4% (8% when excluding 2024 shipping-delay distortions).
Full-Year Guidance and Confidence
FY2026 guidance: local-currency sales growth ~4% (≈3.5% excl. acquisitions); operating margin expected to increase 60–70 bps excluding currency; adjusted EPS guidance $46.05–$46.70 (8%–9% growth).
Free Cash Flow and Balance Sheet Actions
FY2025 adjusted free cash flow $878 million with a conversion ratio of 99% of adjusted net income; FY2026 free cash flow expected ≈$900 million (≈+5% per share); planned share repurchases $825–$875 million.
Service Business Milestone
Service revenues reached $1.0 billion for the first time; Service grew 8% in Q4 (6% organic) and management expects mid–high single-digit growth for the business in 2026; serviceable installed base ≈$3 billion with ~1/3 penetration.
Product and Commercial Innovation
New product launches and go-to-market programs highlighted: Vero electronic pipette (2,800 cycles per charge), X3 Series X-ray inspection solutions, Spinnaker sales & marketing program and automation/digital integration initiatives to drive share gains.