Management remarks
Call period: 2026 Q4 · 2026-08-06
Guidance: Jennifer Parmentier: For the first time ever, we are guiding positive sales growth across all market verticals, resulting in an organic growth forecast of 7% at the midpoint.Demand and orders: Todd Leombruno: Backlog increased 16% versus prior year and is now a new record at $12.8 billion.Margins: Jennifer Parmentier: Organic growth accelerated to 6.6% and adjusted segment operating margin expanded 120 basis points to a record 27.3%.Analyst Q&A
Analyst Andrew Kaplowitz asked: Very helpful, Jenny. And then, Todd, for the FY '27 margin guide, it was nice to hear that you're guiding to the high end of your normal 30% to 35% incrementals. But obviously, you've been trending closer to 40%. So how should we think about mix or any price cost headwinds impacting the businesses in FY '27? Management Todd Leombruno answered: When it comes to price, we're obviously going to cover any increases that come across, whether that is tariffs, whether that is labor, whether that's logistics, commodities. So that will be in there. But we've said this constantly, we want to return to a normal pricing environment. And what better time to do that is when you're in an element of growth here. So when you look across the businesses, we are at the higher end of that 30% to 35% range.管理层陈述
电话会期间：2026 Q4 · 2026-08-06
指引：我们有史以来首次披露所有市场垂直领域均实现正销售增长的指引，据此得出的有机增长预测中值为7%。需求与订单：订单储备较上年增长16%，现已达到128亿美元的历史新高。利润率：有机增长提速至6.6%，调整后板块营业利润率扩大120个基点，达到创纪录的27.3%。分析师问答
分析师安德鲁·卡普洛维茨提问：珍妮，非常有帮助。接下来想问托德，针对2027财年的利润率指引，很高兴你们将指引定在常规30%至35%区间的高端，但显然你们的利润率走势一直更接近40%，我们该如何评估影响2027财年各业务的业务结构或价格成本逆风因素？管理层成员托德·莱奥姆布鲁诺回答：在价格方面，我们会覆盖所有出现的成本上涨，包括关税、劳动力、物流和大宗商品成本，这部分已纳入考量。我们一直希望回归正常定价环境，而在业务增长期做到这一点是最佳时机，目前我们处于30%至35%区间的高端。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。
