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.
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.
