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How is Interflex business doing? And maybe a little bit more color what's happening in AXA?
why don't you think that Allegion stock is a better sort of use of cash. Why don't you think your own stock is the best value out there?
What are you guys seeing in terms of momentum in the channel and so far, clearly, you guys not calling for a recession
it seems a lot of optimism in Italy actually of all places. People talking about maybe potential German recovery sometime in the Second Half
Where does capacity utilization stand today? I think CapEx guidance is up 22% year-over-year from '25.
people ask me on M&A. But maybe can you give us an update on what's happening at FARO?
what are you thinking about sort of risk consumer risk and just overall macro risk in the second quarter
do you get a sense that there's any pull forward from second quarter in terms of orders
What kind of conversations are you having with your customers? Do you feel better that what's happening right now is not maybe flash in the pan?
Can we just get an update on FARO acquisition? What are you seeing? What's the progress has been?
Can you just talk about the progression of the order patterns throughout the quarter? And frankly, what happened in October?
Can you just talk about strength in Europe? Can you just talk about the verticals and geographies? It was a nice surprise
was there any pull forward of demand on metrology equipment, given that there is still some uncertainty about pity tariffs in the second half?
What kind of opportunities does it create, right? Because there are these big concerns that shipments are going to come to grinding halt in May
how are you and the Board thinking about manufacturing footprint, your supply chain? Because clearly, you've made major adjustments in the aftermath of the first wave
what's organic growth rate that's embedded in your first quarter guidance?
how did you all this tariff noise, do we see it in the guidance? And also how does FX impact your 2025 outlook
And it implies the third quarter in data centers could be stronger than fourth quarter. I am clearly missing something
what are sort of legislative and regulatory goalposts we need to see more adoption to ’27?
Any commentary from you as you talk to your customers as to what the timing is of 2 phase for the industry?
What do you think -- what are your thoughts, people are getting more optimistic on Class 8 truck getting better
Should we be saying Q1 down and then it gets positive after second quarter?
overall, the industry sort of was a bit too successful in getting orders, and there's not a lot of capacity out there
Can you just talk what you're seeing in North American refi market because the truck volumes continue to remain weak
can you just tell us when did you figure that North American resi was going to be weaker?
Are there any regions where you do not expect to get price or any verticals where price is flat to negative
can you just give us an update, just a more thorough update on the progress and attachment rates
Biopharma orders in second quarter, how are you different than Danaher and other capital equipment providers?
Organic growth, 5%, bookings in the mid-20s and you're guiding 3% to 5% organic growth? The comps don't get tough until Q4. It seems a conservative guide.
You are largely domestic manufacturer. Will the change to Section 232 tariffs provide you? Is any competitive advantage versus importers of finished goods?
What were bookings for data center exposed businesses and specifically thermal connectors and SWEP? You're adding capacity in both
can you talk about any tariff uncertainty impact on orders in the quarter as best as you can tell?
how should we think about just sustainability of bookings growth, and I do appreciate that there may be an air pocket on bookings related to tariffs
should we just think it as a sort of margin of safety that you've built into forecast, or are there sort of signs to this 40% incremental number?
Do you think that business can double this year given sort of the underlying growth in liquid cooling?
2025 outlook for growth in vehicle wash is much better than the commentary from peers, and I would also say above ground is turning. Do you think you're gaining share?
Middle East rebuild opportunity is larger today and starting, but still in that drag in the fourth quarter
It just seems the number should be order of magnitude higher given the amount of damage that we have been reading about
Has the dial changed post–Middle East as to where downstream CapEx goes or chemical CapEx goes?
going back to this 18% North America order number, it's very, very impressive
What do you think is a sustainable growth rate going forward? Can it stay elevated for the next, I don't know, 12 to 24 months
what exactly is getting better in discrete, what end markets?
Can you just give us more detail as to what are you seeing in your traditional power business? Maybe update us what the mix is?
Can you remind us how you look at Boyd's competitive advantages compared to competitors
there has been a lot of chatter on liquid cooling. And technology trends over the last few months
what gives you confidence in double-digit growth in data center markets in '26 and beyond
Is that in the ballpark? And is it close to 30% or is it close to 25%?
what's your expectation for orders in fourth quarter and the beginning of '26, if you're willing to talk about it?
Can you just please recap your data center strategy in regards to both gray space and white space?
Do you think Electrical Americas has been gaining market share in the U.S.?
how should we think about your Electrical Americas orders going forward for the balance of million?
can you give us some color about your performance in the first quarter?
can you quantify or can you just talk about how much did mega projects actually have an impact on your business in 2024?
how are you incentivizing your supply chain to have capacity in particular at the components at a bottleneck, more critical components?
Just to clarify so Tek orders were positive in the first quarter and you haven't seen things worsen in April
is the implication that the CapEx for 2025 staying flat, going up, going down when all is said and done with your actions?
can we just talk about sort of utilities and power vertical It seems, structurally, things are changing there over the long term
maybe talk about your your software assets, you know, Gordon, Accruent, Service Channel, Where are we in those growth rates
Can you just talk about international opportunities over the next five years on gas?
Why gross margin declining, particularly service gross margins? And I'll sneak one more in. Why is nuclear revenue declining
the EPA has been quite busy issuing directives and specifically with a focus on endangerment finding
what happens to the scope of your service activities as price of gas -- if price of gas structurally goes up
how soon can you see that show up, a, in orders and b, in your actual work?
maybe you can give some KPIs on improving performance, I don't know, sort of on-time delivery.
the Sensors business is becoming much more core and front and center. Could you just sort of parse out what you're seeing there?
How do you view a competitive environment in this market in areas like fire? And how sustainable is your leader
how much growth is coming from Access cross sell? And also how much exposure do you have there to data centers
After selling productivity solutions and warehouse and workflow solutions, anticipate further portfolio actions
weakened demand and price cost deleverage in the second half in the slide that it mostly relates to HPS
very strong growth this quarter, but you're seemingly talking it down for the second half of the year
then on the aftermarket, I think it came in quite a bit stronger. And I appreciate that your numbers seem to be in line
all this traffic, all this shipping traffic out of China collapsing over the next four to six weeks
just a question on inflation. Just would appear that there was quite a bit of it.
What is it that's driving America? Is it the cycle getting better?
solid growth in fourth quarter. Right? 3% plus versus the kind of third quarter. Guidance for 1% to 3% organic growth. So why would things decelerate
just to confirm, we're not modeling any ramp of organic growth this year
I was just wondering if you could comment on how much interest you're getting from the customers
Can you just talk about the initiatives that are taking place in terms of market pricing? And also, can you remind us the impact of data center business on growth profile
outside of data centers sort of growth initiatives at fire and control? Because as I said, the feedback is that they're doing quite a bit better
are we seeing the impact of these product introductions on your orders this quarter, or is this still in the come?
Should we think that there is a relationship with freeing up more capacity and your ability to take more orders in the near term?
do you think you can keep your market share? Or do you think it's just naturally as incremental capacity comes in from other players?
Could you by any chance disaggregate the orders between Fire & Security, Commercial HVAC?
What are the other verticals driving applied growth, and are there any verticals sort of creating headwinds that you're worried about?
in North America Building Solutions, productivity was a negative $20 million drag
what's driving acceleration mid to high single digits, Global Products mid single digits
does that mean that we are offsetting consumer electronics into the second half
how these two internal initiatives impacting your growth and the growth trajectory over the next 12 months
Should we see first half stronger growth than second half, or should the growth be fairly steady
Is this just the focus on consumer electronics? Or are you thinking of sort of you know, tweaking it
seasonality is a little bit different and it seems second half is weaker, despite the normal seasonality
Can we just sort of say in terms of on time in full, I know that this was a big drag on top line
another question on tariffs. Are you modeling any demand destruction related to tariffs? In your core guide?
a follow-up question on buybacks. Seems that you know, the buyback is there because folks are exercising
Abrasives and Industrial Specialties. It seems to be sort of nice kind of in the coal mine short-cycle business
As we think about next year, this squiggler line 100% free cash flow conversion
on defense aftermarket—why not raise the guide given what is happening in the Middle East?
Has the conversation on price changed given Section 232, and can you talk about pricing trends in the quarter
it just seems that sequentially the growth is going to slow down to 2% the midpoint in the third quarter. And then I think the guide sort of implies it stays there in the fourth quarter
the other segment sort of implies a big jump in the midpoint of the guys just to make the math work. Can you just comment with sort of thinking from plus 10 to sort of
labor availability, the need to train the labor and any sort of inefficiency as we go from multiple years of limited no growth to actually growing
how do you think about, a, available capacity at your technology portfolio to ramp and expand your presence in these markets over the next several years
last year, you had 7% organic Aerospace orders, and you delivered 13% organic growth. This year, you had 12% organic aero orders and guiding to 8% at the midpoint
You had a re-acceleration in Aerospace orders in the past couple of quarters. I think, from high single digit to 14% in the third quarter, 12% in fourth quarter
Can you just tell us what it is you are seeing in Europe? And also, we've been getting a lot of questions about your exposure to European defense budgets
How are you guys reconsidering your footprint after the second round of tariffs if in any way? And are you adjusting CapEx down
Any sense when this off-highway OEM destock will end? And then second question, just granularity maybe on aftermarket for aero military versus commercial
Industrial businesses are getting more long cycle within your portfolio. So if you look at history, does it take longer versus history now for positive orders to translate
on ARR by channel, it's 12.6% year-over-year, I think, versus direct 7.8%. And it's been like this every quarter
can you just talk about this tension about proprietary data and folks who want to make all sorts of agentic solutions, want data to be interoperable
Are you seeing an actual change in behavior and maybe some budgets sort of being led out as a result of the deals that have been signed
Post the election, do you feel there is more uncertainty than usual about 2025 calendar year budgets?
Is it really driven mostly by these large CapEx projects that are still on the come? What's missing on the services ARR?
As you look over the next 6 to 12 months, what's going to get better, right?
does that impact sort of margin patterns seasonality in the year?
can you give us a sense where the Logix volumes are relative to where we were pre-COVID?
where did you find the progress the easiest if you look at direct material spend, sort of supply chain, SKU rationalization
How do you think about just generally about growth into next year?
Does it include -- is that where data centers are? And what is really driving this robust recovery?
that business has really been consistently source of upside, a little bit surprised to see growth slowdown
what's the right way of thinking from order converting into shipment that you book? Is it three months? Is it six months?
you were sort of machine builders in Europe was a pinch point
Could you just expand on it? What kind of conversations do you have with customers on this concept?
How do you think about running companies structurally in sort of this high-growth inflationary environment
Can you maybe talk about absorption chiller technology at Trane? What do you guys have? Do you need to add capacity?
How has dialogue changed with customers since these acquisitions? And specifically, your ability to increase your service presence
How should we think about under absorption relative to sort of normal operating leverage? In Americas in '26
Can you tell us what it is you are seeing in terms of biopharma reshoring, how real it is
What's the visibility like into '26? It seems the unit bond market is getting better
Do you need to build extra sort of muscle to service because you do have Fan Wall offerings
It seems like we are at the bottom. I know that you are referencing the ACT forecast, but the truck cycle and the refresh cycle has been very strange
any interest in getting more scale in this area through M&A? I think there might be some sort of private equity assets available
has the structure of your deferred revenue changed materially from what it was?
What technology avenues does it open to Vertiv? And I'm sort of thinking controls, best controls, sort of UPS transition as part of direct current architecture
Last quarter, you shared with us, you know, the increase in service headcount. Would you update us on what the headcount looks like as you increase in backlog
could you just comment on your investment in services and specifically any KPIs you can give us on headcount
there are a lot of teething pains on liquid cooling systems in the industry. And I would guess that this sort of bodes well for service contracts
there were pretty public headlines about delays in cancellations from a prominent hyperscaler
Dave in the beginning of the call sort of noted that America's orders were extraordinary strong