that's top of mind for everyone – let me give you three data points. first, our quarter ended March 2026 was a record: revenue of $7.5 billion, up 17% year-over-year – about 10% organic, the rest from acquisitions and currency. second, segment operating profit hit a Q1 record $1.7 billion at 22.7% margins with free cash flow up 245%. third, we raised full-year organic outlook by 200 basis points to a 10% midpoint while absorbing Boyd Thermal dilution.
← stream@ETN solid @FLNC solid
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I'll tell you, that backlog number tracks. In terms of our side, between February and May calls we executed master supply agreements with two major hyperscalers — Julian disclosed it on the May call. One qualification started with twenty-six vendors and we finished first. If I can brag, that's the only brag that matters. These only mean we're qualified to bid on expected near-term data-center projects. The initial order is an expectation for Q3, not booked. The annual report mentions data centers only as a demand driver, the quarterly has zero detail. I wouldn't read too much into the timing.