Jacob Levinson

Have you been able to adapt that business given the tariff environment? It is kind of hard for us to know what all the moving pieces are there.

Is the team at MonotaRO seeing anything to be concerned about? I know they have certainly borne quite a bit of the energy shock here.

can you just give us a sense of what the tone of those conversations have been like? Because it certainly feels like we've seen some sort of cyclical inflection

it seems like there's been quite an acceleration there the last couple of quarters, and I'm not sure if that's a structural change

I wanted to ask if there's been any discussion in terms of shifting the FIFO

in your experience, is there normally some catch-up in demand once the shutdown is over

Does -- is the economics of private label really changing versus the branded side

can you just help us understand like what's really changed in that business

can you maybe just speak to your ability to flex your sourcing, given the tariff headwinds and maybe how you're balancing that versus taking a price

maybe you can give us an example or 2 of where there's been a step-change in the capabilities that you have today or expect to have

are these facilities -- how much more productive are they, I guess, is the question relative to the legacy stuff

I think your tax rate has been going down a little bit over the last couple of years

maybe you can just give us some color on how you'd characterize that market today, if there are any puts and takes around specific verticals?

maybe you can just speak to your confidence in, maybe, getting some more deals across the goal line in '26

I'm just trying to get a sense of what the integration plan might look like

Maybe you can just help us understand the puts and takes on the deal as we come out. I think you've had it now for almost a year now

Is there any way you could frame for us the content intensity or the opportunity that you would have at ChemTreat or Trojan relative to some of those other types of non-res facilities that they ope...

has there been any real shift or change as a result of all these tariffs and the trade uncertainty

I think I heard you mentioned it was down 30% this quarter. Have we bottomed in that market yet

Can you maybe just mark to market where we are in the cycle across electric and water

Matthew, I think you mentioned that you had a record on-time delivery quarter here. I'm not sure were you're comfortable sharing, but can you give us some context

you've got a balance sheet at this point as you could argue underlevered. I know there's a lot of change going on within the organization