Core Insights - The company successfully executed its 13-60-80 framework, achieving adjusted EBITDA margins of 13.2% and free cash flow conversion of 80% through disciplined execution [5] - Revenue growth was driven by a strategic shift towards high-margin recurring services, with inspection, service, and monitoring now accounting for 54% of total revenue [5] - The company introduced new three-year targets aiming for $10 billion in revenue and 16% adjusted EBITDA margins by 2028 [5] Revenue and Growth - Organic growth reached 8%, supported by strong demand in complex end markets such as data centers, advanced manufacturing, and critical infrastructure [5] - The Specialty Services segment experienced a robust recovery with 10% organic growth, benefiting from disciplined project selection and improved leverage of fixed overhead [5] - The project pipeline is bolstered by a record backlog exceeding $4 billion, with data centers expected to contribute approximately 10% of total 2026 revenue [5] Strategic Initiatives - The acquisition of Elevated established a new vertical in the elevator and escalator service market, diversifying the recurring revenue base [5] - The company closed the acquisition of CertiCyte in February 2026, expanding its fire and life safety footprint in the Midwest region [5] - Capital allocation will prioritize accretive M&A over share repurchases, focusing on life safety, security, and elevator services in North America and international markets [5] Financial Position - Net leverage ended the year at 1.6x, significantly below the company's long-term target, providing flexibility for value-enhancing capital deployment [5] - 2026 guidance assumes 5% organic revenue growth at the midpoint, balancing high-single-digit service growth with low-to-mid-single-digit project growth [5] - Anticipated continued margin expansion in 2026 driven by ongoing investments in procurement systems and business enablement technologies [5] Community Engagement - The company announced a centennial milestone for 2026, focusing on community engagement and gratitude as part of its 100-year anniversary [6]