Wrapping up Q2 earnings, we look at the numbers and key takeaways for the inspection instruments stocks, including Keysight (NYSE: KEYS) and its peers.
Measurement and inspection instrument companies may enjoy more steady demand because products such as water meters are non-discretionary and mandated for replacement at predictable intervals. In the last decade, digitization and data collection have driven innovation in the space, leading to incremental sales. But like the broader industrials sector, measurement and inspection instrument companies are at the whim of economic cycles. Interest rates, for example, can greatly impact civil, commercial, and residential construction projects that drive demand.
The 5 inspection instruments stocks we track reported a very strong Q2. As a group, revenues beat analysts’ consensus estimates by 2.6% while next quarter’s revenue guidance was 2.5% above.
While some inspection instruments stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 3.8% since the latest earnings results.
Best Q2: Keysight (NYSE: KEYS)
Spun off from Hewlett-Packard in 2014, Keysight (NYSE: KEYS) offers electronic measurement products for use in various sectors.
Keysight reported revenues of $1.85 billion, up 36.5% year on year. This print exceeded analysts’ expectations by 5.8%. Overall, it was a stunning quarter for the company with EPS guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS estimates.
Keysight achieved the biggest analyst estimate beat and highest guidance raise of the whole group. Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 7.1% since reporting and currently trades at $316.80.
Viavi Solutions (NASDAQ: VIAV)
Once known as JDS Uniphase before its 2015 rebranding, Viavi Solutions (NASDAQ: VIAV) provides testing, monitoring and assurance solutions for telecommunications, cloud, enterprise, military, and other critical networks and infrastructure.
Viavi Solutions reported revenues of $443.1 million, up 52.5% year on year, outperforming analysts’ expectations by 2.4%. The business had an exceptional quarter with a beat of analysts’ EPS estimates.
Viavi Solutions achieved the fastest revenue growth among its peers. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 10.9% since reporting. It currently trades at $34.66.
Is now the time to buy Viavi Solutions? Access our full analysis of the earnings results here, it’s free.
Weakest Q2: Badger Meter (NYSE: BMI)
The developer of the world’s first frost-proof water meter in 1905, Badger Meter (NYSE: BMI) provides water control and measure equipment to various industries.
Badger Meter reported revenues of $222.3 million, down 6.6% year on year, in line with analysts’ expectations. It was a mixed quarter as it posted EPS in line with analysts’ estimates.
As expected, the stock is down 9.3% since the results and currently trades at $132.25.
Read our full analysis of Badger Meter’s results here.
Itron (NASDAQ: ITRI)
Founded by a small group of engineers who wanted to build a more efficient way to read utility meters, Itron (NASDAQ: ITRI) offers energy and water management products for the utility industry, municipalities, and industrial customers.
Itron reported revenues of $562.9 million, down 7.2% year on year. This result came in 0.5% below analysts’ expectations. Zooming out, it was actually a strong quarter as it produced a solid beat of analysts’ EBITDA estimates and full-year EPS guidance exceeding analysts’ expectations.
Itron had the weakest performance against analyst estimates, weakest guidance update, and slowest revenue growth in the group. The stock is up 12.2% since reporting and currently trades at $95.12.
Read our full, actionable report on Itron here, it’s free.
Teledyne (NYSE: TDY)
Playing a role in mapping the ocean floor as we know it today, Teledyne (NYSE: TDY) offers digital imaging and instrumentation products for various industries.
Teledyne reported revenues of $1.66 billion, up 9.8% year on year. This number beat analysts’ expectations by 5.3%. Overall, it was a very strong quarter as it also put up full-year EPS guidance beating analysts’ expectations and a beat of analysts’ EPS estimates.
The stock is down 3.7% since reporting and currently trades at $623.56.
Read our full, actionable report on Teledyne here, it’s free.
Market Update
Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.
Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.
By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.
Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Growth Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
