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Financial Data and Key Metrics Changes - The company reported sales of $5.2 billion with 2% organic sales growth, including about 2 points from price increases [16][17] - Adjusted EPS was $0.65, up 27% year over year, driven by strong productivity performance [18] - Free cash flow for the quarter was $420 million, stronger than expected due to higher net income and lower capital expenditures [18][19] Business Line Data and Key Metrics Changes - The Climate Solutions Americas (CSA) segment had organic sales growth of 9%, with residential and commercial sales up around 20% each [19][20] - The Climate Solutions Europe (CSE) segment saw organic sales down 7%, with mid single-digit growth in commercial offset by a 10% decline in residential light commercial [21] - The Climate Solutions Asia, Middle East, and Africa (CS AME) segment experienced a 6% decline in organic sales, primarily due to weakness in residential China [23] - The Commercial Systems Transportation (CST) segment had organic sales up 2%, driven by a 20% increase in container sales [24] Market Data and Key Metrics Changes - Total company backlog was up about 10% year over year and 15% sequentially [6] - Organic orders momentum continued with high single-digit growth across most segments, except for CS AME [25] - In the Americas, organic sales growth is expected to pick up in the second quarter, with mid-teens growth anticipated [33] Company Strategy and Development Direction - The company is focused on driving sustained growth through differentiated products, aftermarket services, and systems integration [7][8] - A new partnership with Google aims to enhance grid resilience and support smarter energy management [10] - The company is committed to mitigating tariff exposure through supply chain and productivity actions, with a focus on maintaining competitive pricing [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving mid-single-digit organic sales growth for the full year, with strong margin expansion and close to 20% adjusted EPS growth anticipated [28] - The macroeconomic environment remains uncertain, but the company is focused on customer needs and investing in differentiation [15][14] - Management noted that the new German coalition government supports climate goals, which is expected to drive demand for heat pumps [12] Other Important Information - The company repurchased $1.3 billion worth of shares in the quarter and plans to target $3 billion in share repurchases for 2025 [19] - Adjusted operating profit increased by 10% compared to last year, driven by strong productivity and pricing [17] Q&A Session Summary Question: Confirmation of Q2 guidance and EPS - Management confirmed expectations of mid-single-digit organic growth and approximately $6 billion in sales for Q2, with adjusted EPS growth close to 20% [30][31] Question: Insights on the Americas segment performance - Management indicated that residential sales in the Americas are expected to be strong, with a potential increase in guidance for the full year [40][41] Question: Clarification on tariffs and pricing impact - Management stated that they have effectively mitigated most tariff impacts, with $300 million remaining to be offset through pricing [35][119] Question: Update on Viasman and margin expectations - Management expects Viasman to remain flat for the year, with margin improvements anticipated as the business integrates [58][63] Question: Discussion on commercial HVAC business growth - Management highlighted strong growth in the commercial HVAC sector, particularly in data centers, and noted that capacity increases have allowed for more aggressive sales efforts [66][123] Question: Inquiry about inventory levels and pre-buy effects - Management acknowledged elevated inventory levels but indicated that movement has been strong, with careful monitoring of distributor inventory [99][127]