Update: Judges Scientific (JDG) H1 2026

The bet is that 1) coring returns and normalizes 2) earnings are near a trough in F2026 3) margins are near a trough and 4) the M&A engine can return.

Judges reported H1 2026 results today. To be clear, the main driver of the thesis for a long-term shareholder is capital allocation and no incremental M&A was reported. While M&A should be the main driver, the organic performance is still important and we are into year 3 of choppy results. Below are some key highlights.