Quarterly guidance

Q4 2026 core revenue growth (ex-respiratory)
4% to 5% range
Q4 2026 adjusted operating profit margin
Approximately 29.5%
Q4 2026 respiratory revenue headwind
Approximately 150 basis point headwind

Annual guidance

Full-year 2026 adjusted diluted EPS
$8.57 to $8.62, increased from the prior range of $8.45 to $8.60
2027 core revenue growth (ex-respiratory)
4% to 5% is the right starting point as of today

Outlook

Bioprocessing
The company expects bioprocessing to deliver sustainable, high single-digit long-term revenue growth.
Respiratory revenue
The company is planning for $1.5 billion in respiratory revenue for 2026 and believes this is the right starting point for 2027.
Reshoring
Larger greenfield reshoring projects are in planning phases and are expected to contribute to growth starting in 2028.
AI integration
The company sees AI as a significant long-term opportunity to accelerate scientific discovery and is accelerating AI deployment across the enterprise.
End markets
Large pharma and biopharma demand remains robust, while academic demand has improved sequentially but remains below historic levels.