Management remarks
Call period: 2026 Q2 · 2026-07-28
Guidance: Patrick Goris: We now expect full year sales to be roughly $23 billion, with organic growth up mid- to high single digits and full year data center revenue of approximately $2 billion versus $1.5 billion prior guide.Demand and orders: David Gitlin: 2Q orders were very strong, up about 40%, with commercial HVAC up about 65%, driven by continued strength in data centers where orders were up 4x over last year.Margins: Patrick Goris: Adjusted operating margin of 17.2% was a bit better than expected. The year-over-year decline largely reflects the benefit of organic growth and strong productivity, offset by unfavorable mix and increased input costs.Analyst Q&A
Analyst Varun Govindaraj asked: Congrats on the strong print. Perfect. So quick question from my end. When you look at the back half of $1.5 billion of data center revenue, what's the degree of confidence over there? Management David Gitlin answered: So there's always a bit of perturbation from month-to-month. But what I'll tell you is that we're fully booked for the second half. There is huge demand from our customers. So they are pushing us to accelerate deliveries, not risking pushing those out into '27. As we think about the back half, it's purely an execution issue. We've moved a lot of additional resources into supply chain, into supplier quality, into the quality in our own factories. Our commitment to our customers is to be perfect quality, perfect delivery.管理层陈述
电话会期间：2026 Q2 · 2026-07-28
指引：帕特里克·戈里斯：我们目前预计全年销售额约为230亿美元，有机增长率达中高个位数，全年数据中心收入约为20亿美元，高于此前预期的15亿美元。需求与订单：戴维·吉特林：第二季度订单表现强劲，同比增幅约40%，其中商业暖通空调订单同比增长约65%，得益于数据中心领域的持续强劲势头，该领域订单较去年同期增长4倍。利润率：帕特里克·戈里斯：调整后营业利润率为17.2%，略好于预期。同比下滑主要得益于有机增长和强劲的生产力提升，不过不利的业务结构与上升的原材料成本抵消了部分利好。分析师问答
分析师Varun Govindaraj：恭喜贵公司公布强劲业绩，我有一个小问题，关于下半年15亿美元数据中心收入的信心程度如何？管理层David Gitlin：每月总会有一些小幅波动，但我们下半年的数据中心业务订单已全部满额。客户需求巨大，他们正推动我们加快交付，而非将订单推迟到2027年。下半年的挑战完全在于执行，我们已向供应链、供应商质量及自身工厂的质量管控投入了更多资源，我们向客户承诺做到完美的质量和交付。This earnings-call research was prepared from company results, regulatory filings, financial statements, and earnings-call transcripts or official replays. It is for informational purposes only and does not constitute investment advice.这篇财报电话会研究基于公司公告、监管文件、财务报表，以及真实电话会文字稿或官方回放整理。内容仅供参考，不构成投资建议。
