Cognex Corporation (CGNX) Presents at Barclays 43rd Annual Industrial Select Conference Transcript

SA Transcripts158.47K FollowersFollow5ShareSaveCommentsQ4: 2026-02-11 Earnings SummaryInsightsTranscript InsightsPlay CallPlay CallTranscriptEPS of $0.27 beats by $0.05 | Revenue of $252.34M (9.86% Y/Y) beats by $13.41M Cognex Corporation (CGNX) Barclays 43rd Annual Industrial Select Conference February 18, 2026 1:50 PM EST Company Participants Dennis Fehr - Senior VP of Finance & CFO Conference Call Participants Guy Drummond Hardwick - Barclays Bank PLC, Research Division Presentation Guy Drummond HardwickBarclays Bank PLC, Research Division Okay. We'll get started. For the next presentation is Cognex Corporation. I'm delighted to have the CFO, Dennis Fehr with me. My name is Guy Hardwick. I cover industrial technology and distributors. So delighted to have Dennis here. What we will start, though, with our first 3 ARS questions, just to set the stage. So if we could perhaps put up the first ARS question, please. That is, do you currently own this stock? Majority of the room own it. Okay. The second question, please. What is your general bias towards the stock right now? [indiscernible] positive. And then the third question, please. In your opinion, through cycle EPS growth at Cognex Core will be [Audio Gap] universally bullish about peers. Okay. That kind of sets the stage nicely, Dennis. So I was joking with you earlier that you joined the German brain drain -- U.S. Corporate America, but perhaps a discussion for another time. So maybe perhaps you could just start with how would you characterize demand from what you're seeing so far in Q1, if you're able to comment on that? Dennis FehrSenior VP of Finance & CFO Yes. No, happy to. Maybe start with first very bigger picture and then go a bit more into the details of kind of near-term demand, right? So in general, we come out of a very pronounced down cycle, right? So last peak of the cycle was in 2021. '22 flattish, '23 very down, '24 flat again. So almost like 3 years of down cycle, which is almost unknown for that type of industry. And really