Agilent Technologies (NYSE:A) Q1 2026 Earnings call February 25, 2026 04:30 PM ET Company ParticipantsAdam Elinoff - Managing DirectorAngelica Riemann - President, Agilent CrossLab GroupBrandon Couillard - Managing DirectorCasey Woodring - VP of Equity ResearchMichael Ryskin - Managing DirectorPadraig McDonnell - President and CEOPatrick Donnelly - Managing Director in Equity ResearchPuneet Souda - Senior Managing Director, Life Science Tools and DiagnosticsSimon May - President of the Life Sciences and App ...

Core Insights - Artisan Mid Cap Fund's fourth-quarter 2025 investor letter highlights the performance of the fund and its investment strategy focused on companies with strong earnings and franchise characteristics [1] - The fund's Investor Class, Advisor Class, and Institutional Class delivered returns of -0.44%, -0.37%, and -0.35% respectively, compared to a -3.70% return for the Russell Midcap® Growth Index [1] Company-Specific Insights - Waters Corporation (NYSE:WAT) is identified as a key investment, specializing in analytical workflow solutions, particularly in liquid chromatography and mass spectrometry [2][3] - As of February 23, 2026, Waters Corporation's stock closed at $327.78, with a one-month return of -15.97% and a 52-week loss of 13.93%. The company has a market capitalization of $32.15 billion [2] - The fund increased its position in Waters Corporation due to strong quarterly results and expectations of growth driven by a rebound in pharmaceutical demand, an instrument replacement cycle, and favorable regulatory trends [3] Market Position and Hedge Fund Interest - Waters Corporation is held by 47 hedge fund portfolios at the end of the fourth quarter, an increase from 42 in the previous quarter, indicating growing interest among institutional investors [4] - Despite the potential of Waters Corporation, the fund suggests that certain AI stocks may offer greater upside potential and lower downside risk [4]

Core Insights - Wall Street analysts expect Agilent Technologies to report quarterly earnings of $1.37 per share, reflecting a year-over-year increase of 4.6% and revenues of $1.8 billion, up 7.2% from the previous year [1] Revenue Estimates by End Markets - Revenue from Chemical and Advanced Materials is projected to reach $413.46 million, indicating a year-over-year increase of 9.1% [4] - Revenue from Environmental and Forensics is expected to be $173.75 million, suggesting a 1% increase year-over-year [4] - Revenue from Diagnostics and Clinical is forecasted at $254.20 million, reflecting a 5.9% increase from the prior year [5] - Revenue from Academia and Government is estimated to be $144.50 million, indicating a 5.5% year-over-year increase [5] - Revenue from Pharmaceuticals is projected at $633.34 million, suggesting an 8.3% increase year-over-year [6] - Revenue from Food is expected to reach $166.52 million, indicating a slight decrease of 0.9% from the previous year [6] Net Revenue Estimates - Net Revenue from the Americas is expected to be $704.33 million, reflecting a year-over-year increase of 5.3% [6] - Net Revenue from Asia Pacific is projected at $604.90 million, indicating a 10.2% increase year-over-year [7] - Net Revenue from Europe is estimated to be $486.16 million, suggesting a 5% increase from the prior year [7] Stock Performance - Agilent's shares have decreased by 8.9% over the past month, compared to a 0.8% decline in the Zacks S&P 500 composite [7] - The company holds a Zacks Rank of 3 (Hold), indicating expectations to mirror overall market performance in the near future [7]

Company Overview - Novanta Inc. (NASDAQ:NOVT) is a technology solutions company specializing in precision medicine, precision manufacturing, medical solutions, robotics and automation solutions, and advanced surgery solutions [2][3] - The company has a market capitalization of $5.2 billion [2] Financial Performance - On February 18, 2026, Novanta Inc. stock closed at $145.63 per share [2] - The one-month return for Novanta Inc. was 5.29%, and its shares increased by 1.98% over the past twelve months [2] - In the fourth quarter of 2025, Novanta Inc. reported strong earnings with double-digit growth in its Advanced Surgery business [3] Market Position and Demand - Novanta Inc. experienced a 17% year-over-year growth in bookings, indicating robust future demand as customer inventory levels normalize [3] - The company is noted for its ability to exceed profit expectations while navigating a complex macro environment, showcasing the durability of its diversified, high-quality business model [3] Investment Sentiment - Novanta Inc. is not among the 30 most popular stocks among hedge funds, with 27 hedge fund portfolios holding the stock at the end of the third quarter, unchanged from the previous quarter [4] - While the potential of Novanta Inc. as an investment is acknowledged, certain AI stocks are considered to offer greater upside potential and less downside risk [4]

Non-GAAP diluted EPS was $0.59, down from $0.76 in the year-ago quarter. On a GAAP basis, diluted EPS was $0.10 versus $0.09. Herman also noted the weighted average diluted share count rose 13% year-over-year to 171.7 million shares, reflecting accounting for the mandatory convertible preferred stock offering completed in September 2025.Non-GAAP operating margin was 15.7%, down 240 basis points year-over-year. CFO Gerald Herman said the margin came in about 100 basis points below the company’s expectations, ...

Financial Data and Key Metrics Changes - In Q4 2025, Bruker reported revenues of $977.2 million, approximately flat year-over-year, with a currency tailwind of 4.1% and an organic decline of 5.1% [12][27] - For the full year 2025, reported revenues increased by 2.1% to $3.44 billion, with an organic revenue decline of 3.7% [13][32] - Non-GAAP diluted EPS for Q4 2025 was $0.59, down from $0.76 in Q4 2024, reflecting a 22.4% decrease [30] - Non-GAAP operating margin for Q4 2025 was 15.7%, down 240 basis points year-over-year [29] Business Line Data and Key Metrics Changes - The BioSpin group revenue for 2025 was $879 million, declining in the mid-single digits, with solid growth in Chemspeed lab automation offset by declines in NMR instrumentation [15] - The CALID group had revenue of $1.2 billion with constant exchange rate growth in the high single digits, driven by microbiology and infection diagnostics [17] - Bruker Nano revenues for 2025 were $1.1 billion, declining in the low single digits, with growth in spatial biology offset by declines in academia/government and industrial markets [18] Market Data and Key Metrics Changes - In Q4 2025, Americas revenue declined in the low teens%, while European revenue declined in the high single digits%, and Asia Pacific revenue grew in the high single digits% [28] - The U.S. biopharma and industrial growth looked stronger in the second half of 2025, while U.S. government orders remained weak throughout 2025 [23] Company Strategy and Development Direction - Bruker is focused on expanding its leadership in post-genomic disease research and drug discovery tools, particularly in proteomics and multi-omics [19] - The company aims for significant margin expansion, targeting a 250-300 basis points improvement in operating profit margin for 2026 [11][34] - Bruker plans to leverage its recent acquisitions and product innovations to drive revenue growth in 2026 and beyond [8][24] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the recovery in demand, particularly in biopharma and industrial research, while acknowledging lingering uncertainties in the U.S. government market [9][49] - The company expects to return to organic revenue growth in the second quarter of 2026, driven by improved order momentum and easier year-over-year comparisons [37][60] - Management highlighted the importance of cost-saving initiatives to mitigate headwinds from tariffs and currency fluctuations [42][68] Other Important Information - Bruker ended Q4 2025 with cash, cash equivalents, and short-term investments of approximately $300 million [31] - The company received major multi-year orders worth over $500 million for superconducting wire from large MRI manufacturers, expected to contribute to revenue in 2026 [18] Q&A Session Summary Question: Margin focus and cost initiatives - Management discussed the focus on cost initiatives to improve margins, expecting annualized savings to exceed $140 million [40][42] Question: Academic and government customer interactions - Management noted that while U.S. government orders were weak, there is cautious optimism for improvement in the second half of 2026 [48][49] Question: Revenue pacing and underlying assumptions - Management indicated that both easier year-over-year comparisons and improving order momentum would contribute to revenue growth starting in Q2 2026 [58][60] Question: Expectations for end markets - Management expects low single-digit organic growth in biopharma and semi, with microbiology showing stronger growth due to increased placements of diagnostic platforms [65][67]

Core Insights - The handheld XRF analyzer (XRF gun) is a portable, non-destructive testing device based on X-ray fluorescence technology, allowing for rapid detection and analysis of elemental composition without sample preparation [2] - The global market for handheld XRF analyzers is projected to reach $690 million by 2032, with a compound annual growth rate (CAGR) of 4.8% from 2026 to 2032 [3][18] Market Overview - Major manufacturers of handheld XRF analyzers include Bruker, Thermo Fisher Scientific, Elvatech, and others, with production concentrated in North America and Japan due to strong supply chains and market ecosystems [5] - The market is characterized by a competitive landscape with both high-end and low-end products, where high-end products are dominated by global giants [13] Industry Chain Analysis - The supply chain includes upstream core component suppliers, material suppliers, and manufacturers of calibration equipment, with a focus on precision components like micro-focus X-ray tubes and silicon drift detectors [7] - Midstream manufacturers are involved in the R&D, production, and commercialization of XRF guns, offering various models for different applications [7] Policy Analysis - Regulatory frameworks in regions like the UK, Canada, and the EU impose strict compliance requirements for the use of handheld XRF devices, necessitating risk assessments and safety measures [9] Development Trends - Continuous upgrades in technology are enhancing performance metrics such as energy resolution and detection limits, with AI integration improving analysis accuracy [10] - The application scope is expanding beyond traditional uses to include environmental protection, food safety, and archaeological analysis [10] Growth Opportunities - The tightening of global environmental regulations is driving demand for handheld XRF analyzers in compliance testing across various industries [11] - Emerging applications in sectors like renewable energy and waste recycling are creating new market opportunities [11] Challenges - The industry faces challenges related to the reliance on foreign suppliers for high-end components, which can lead to supply chain vulnerabilities [13] - Intense competition in the low-end market is leading to price wars and reduced profit margins, while high-end products are dominated by established brands [13]

Earnings Call Webcast February 6, 2026 Mettler-Toledo International Inc. Q4 2025 Financial Results Safe Harbor Statement 2 Statements in this presentation which are not historical facts constitute "forward looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These statements involve known and unknown risks, uncertainties and other factors that may cause our or our businesses, actual results, levels of activity, ...

摘要 ：2025年微波消解仪相关有效招标采购中标项目约260项（部分项目含多个标包），采购微波消解仪370台/套，相关标项中标总金额约1.09亿元。 特别提示 微信机制调整，点击顶部"仪器信息网" → 右上方"…" → 设为 ★ 星标，否则很可能无法看到我们的推送。 微波消解仪成为现代仪器分析中重要的前处理利器，凭借加热速度快、消解效率高、试剂用量少及污染小等特性，广泛应用于多领域的元素分 析前处理。近年来，在政策扶持与市场需求的双重驱动下，国内微波消解仪市场规模保持稳定增长态势。 2025年，微波消解仪市场规模如何？国产品牌谁在领跑？超级微波与传统微波的市场表现又有何差异？不同地区采购偏好与资金投入力度是否 存在明显分化？ 带着这些疑问，仪器信息网特别对2025年微波消解仪中标情况进行 不完全统计 ，从采购主体、品牌竞争、技术类型及应用 场景等维度切入，剖析市场特征，为行业参与者提供参考。 （ 注 ： 本 文 搜 集 信 息 全 部 来 源 于 中 国 政 府 采 购 网 与 千 里 马 ， 因 关 键 词 搜 索 、 信 息 披 露 完 整 性 等 差 异 ， 部 分 产 品 的 价 格 、 品 牌 等 ...

摘要 ：在多项污染物的检测中，气相色谱质谱联用仪作为关键设备，被广泛应用于N-二甲基亚硝胺、多 氯联苯和3-氯-1,2-丙二醇的检测。 特别提示 微信机制调整，点击顶部"仪器信息网" → 右上方"…" → 设为 ★ 星标，否则很可能无法看到我 们的推送。 国家卫生健康委联合市场监管总局于2025年9月25日正式发布《食品安全国家标准 食品中污 染 物 限 量 》 （ GB 2762-2025 ） ， 该 标 准 将 自 2026 年 9 月 2 日 起 实 施 ， 并 取 代 现 行 的 GB 2762-2022 版 本 。 （ 相 关 解 读 请 参 见 ： 《 GB2762-2025 食 品 中 污 染 物 限 量 》 解 读 、 新 标 下，食品污染物如何检测？附最新仪器配置清单） 本标准明确了食品中铅、镉、汞、砷、锡、镍、铬、亚硝酸盐、硝酸盐、苯并[a]芘、N-二甲 基亚硝胺、多氯联苯及3-氯-1,2-丙二醇等污染物的限量指标，并规定了相应的检验方法。在 多项污染物的检测中，GC-MS（气相色谱-质谱联用仪）作为关键设备，被广泛应用于N-二 甲基亚硝胺、多氯联苯和3-氯-1,2-丙二醇的检测。 | 测 ...