Management remarks
Call period: 2026 Q3 · 2026-10-14
Guidance: Max H. Tunnicliff: For full year 2026, we continue to expect net capital spending of $310 million to $330 million The program includes hub network capacity, FMI, automation equipment, information technology projects, and transportation assets.Demand and orders: Jeffery Watts: Contract customers now represent over 76% of sales and their daily sales grew, 18.8%.Margins: Max H. Tunnicliff: In total, SG&A leverage expanded operating margin by 90 basis points to 21.5%, This demonstrates how we are executing our strategy using our infrastructure, tech, digital capabilities to scale effectively and efficiently while continuing to invest for growth.Analyst Q&A
Analyst Ken Newman asked: Hey, good morning guys. This is Zach on for Ken Thanks for taking the question. Just 2 quick ones. So the comps get tougher heading into next year. First, is it fair to assume like a mid to high single digit growth? Management Max H. Tunnicliff answered: that is probably gonna I mean, we expect. Our success, we think, in any environment should be 10 percentage-point top line improvement each and every year. that is what we hold ourselves accountable for internally. But that is not a forecast or guidance either. So, hopefully, that helps put a little context there. And then you asked about incrementals, I think. So on the incremental operating margin level, we continue to believe that our business when we are growing double digits, should be in the mid twenties if not higher.管理层陈述
电话会期间：2026 Q3 · 2026-10-14
指引：马克斯·H·塔尼克利夫表示：对于2026年全年，我们仍预计资本支出净额为3.1亿至3.3亿美元，该计划涵盖枢纽网络产能、FMI、自动化设备、信息技术项目以及运输资产。需求与订单：杰弗里·沃茨表示：目前合同客户占销售额的比例超过76%，其日销售额增长了18.8%。利润率：马克斯·H·塔尼克利夫表示：总体而言，SG&A杠杆使营业利润率扩大90个基点至21.5%，这表明我们利用基础设施、技术和数字能力实现有效高效扩张，同时持续投资以推动增长。分析师问答
分析师肯·纽曼（扎奇代其提问）：明年竞争环境更严峻，能否假设营收增速为中高个位数？ 管理层马克斯·H·塔尼克利夫：我们认为无论环境如何，每年都能实现营收增速提升10个百分点，这是我们内部的考核标准，但这并非正式预测或指引。关于增量营业利润率，当营收以两位数增长时，该利润率应处于中二十几甚至更高的区间。
