Financial Data and Key Metrics Changes - Revenue increased by 21% to $56.7 million, driven by strong performance across end markets [4][15] - Adjusted EBITDA rose by 50% to $6 million, with an adjusted EBITDA margin of 10.7% [4][16] - Net income for the quarter was $0.25 per diluted share, and adjusted net income was $0.31 per diluted share [16][18] - Gross profit increased by 15% to $13.5 million, with a gross margin of 23.8% [16] Business Line Data and Key Metrics Changes - Sales to the defense market increased by $8.3 million, driven by project milestones and growth in existing programs [15] - Sales to the energy and process market increased by $2.1 million, or 13%, reflecting strength in aftermarket sales [15] - Aftermarket sales to energy and process and defense markets were $10.8 million, up 11% year-over-year [16] Market Data and Key Metrics Changes - Book-to-bill ratio was 1.3 times, with backlog increasing to a record $515.6 million, up 34% year-over-year [5][19] - Approximately 85% of backlog is attributable to the defense market, providing stability [19] - The company expects 35%-40% of backlog to convert to revenue over the next 12 months [19] Company Strategy and Development Direction - The company completed the acquisition of XDot Bearing Technologies, enhancing its competitive position in high-speed rotating machinery [5] - The acquisition of FlackTek for $35 million adds advanced materials and processing as a third core technology platform [7][10] - Investments in capacity expansion and technology are ongoing, with a focus on efficiency and scalability [12][14] Management's Comments on Operating Environment and Future Outlook - Management noted strong demand in defense and energy markets, despite some slowing in large CapEx purchases due to macroeconomic factors [13][14] - The company remains confident in achieving long-term objectives of 8%-10% organic revenue growth and low to mid-teen adjusted EBITDA margins by fiscal 2027 [23] - Management emphasized disciplined execution and the importance of ongoing investments to support future growth [14][15] Other Important Information - The company ended the quarter with $22.3 million in cash and strong operating cash flow of $4.8 million [20][21] - Capital expenditures totaled $2.8 million during the quarter, supporting capacity expansion initiatives [20] Q&A Session Summary Question: Demand in defense and CapEx plans - Management indicated that defense demand remains healthy, with ongoing investments to increase capacity and efficiency [27][29] Question: M&A strategy and future acquisitions - Management stated that while FlackTek adds a third platform, future focus will be on investing in existing platforms before considering new acquisitions [30][31] Question: Pursuing new work from the Navy - Management highlighted the applicability of their core competencies in pursuing new opportunities within Navy programs [33][34] Question: Growth in existing defense programs - Management confirmed that they are winning additional scope on current projects, leading to more opportunities [39][40] Question: Book-to-bill ratio outlook - Management reaffirmed that the long-term target for book-to-bill is 1.1, despite current performance exceeding that target [43][44] Question: Material receipts impact on gross margin - Management explained that material receipts are lumpy and expected to normalize in future quarters [65][66] Question: Testing facilities activity - Management reported that testing facilities are currently focused on existing backlog products, with healthy pipeline opportunities [75][76]

Core Viewpoint - KeyBanc upgraded Emerson Electric Co. to "Overweight" and raised its price target from $155 to $185, reflecting positive sentiment towards the company's future performance [1][6]. Stock Performance - The current stock price of Emerson is $157.32, which is a 3.43% increase from the previous value, with fluctuations between $154.40 and $160.11 on the day [2]. - Over the past year, the stock reached a high of $160.13 and a low of $90.06, with a market capitalization of approximately $88.46 billion [2]. Options Trading Activity - Emerson has seen a significant increase in options trading, with 3,480 call options purchased, representing a 95% increase compared to the typical volume of 1,789 call options, indicating heightened investor interest [3][6]. Insider Transactions - CEO Surendralal Lanca Karsanbhai sold 7,263 shares at an average price of $133 per share, totaling around $966,000, resulting in a 3.57% decrease in his ownership position [4][6]. - Company insiders currently own 0.23% of Emerson's stock, while institutional investors and hedge funds are adjusting their stakes [5]. Trading Volume - Today's trading volume for Emerson is 9,699,161 shares, indicating active trading and interest in the stock [5].

INVESTOR PRESENTATION Q2 FY26 Results | February 2026 Safe Harbor Statement © Matrix Service Company. All rights reserved. 2 Investing in MTRX 3 • Experienced EPC general industrial contractor of scale with a 40+ year track record supporting energy, power, and industrial infrastructure customers • Provider of end-to-end services across entire asset life-cycle with niche capabilities in cryogenic storage for LNG, NGLs, and chemical applications as well as other cryogenic infrastructure such as thermal vacuum ...

Group 1 - Finnish engineering group Wartsila missed fourth-quarter orders forecasts [1] - The company faced challenges due to U.S. battery tariffs [1] - Increased competition in the energy storage business impacted performance [1]

Core Insights - Artificial intelligence (AI) is identified as the greatest investment opportunity of the current era, with a strong emphasis on the urgency to invest now [1][13] - The energy demands of AI technologies are highlighted, with data centers consuming as much energy as small cities, leading to concerns about power grid strain and rising electricity prices [2][3] Investment Opportunity - A specific company is positioned as a critical player in the AI energy landscape, owning essential energy infrastructure assets that will benefit from the increasing energy demands of AI [3][7] - This company is described as a "toll booth" operator in the AI energy boom, profiting from the surge in electricity demand driven by AI advancements [4][5] Market Position - The company is noted for its unique capabilities in executing large-scale engineering, procurement, and construction (EPC) projects across various energy sectors, including nuclear energy [7][8] - It is completely debt-free and has a significant cash reserve, amounting to nearly one-third of its market capitalization, which positions it favorably compared to other heavily indebted energy firms [8][10] Growth Potential - The company also holds a substantial equity stake in another AI-related venture, providing investors with indirect exposure to multiple growth opportunities in the AI sector [9][10] - The stock is described as undervalued, trading at less than seven times earnings, which presents a compelling investment case given its ties to the booming AI and energy markets [10][11] Industry Trends - The ongoing trends of onshoring, driven by tariffs, and the surge in U.S. LNG exports are expected to further enhance the company's market position [6][14] - The influx of talent into the AI sector is anticipated to drive continuous innovation and advancements, reinforcing the long-term growth potential of investments in AI [12]

Core Thesis - Legence Corp. (LGN) presents a compelling investment opportunity driven by its rapidly growing data center business and strong organic growth metrics [2][3][5] Company Overview - Legence Corp. provides engineering, installation, and maintenance services for mission-critical systems in buildings across the United States, with a focus on energy efficiency and consulting [2] - Approximately 50% of its pro-forma business is concentrated in data centers, which experienced over 60% year-over-year growth in Q3 2025 [3] Financial Performance - Total order intake exceeded $1 billion in Q3, reflecting a more than 40% year-over-year increase, while quarterly revenue growth accelerated from 8% in Q1 to 26% in Q3 [3] - The engineering and consulting segment generates high margins (~30%), complementing mid-teens margins in installation and maintenance, which together constitute 70% of the business [3] Valuation and Market Position - LGN trades at approximately 12x 2026 pro-forma EBITDA, significantly below peer multiples ranging from 14x to 20x, despite its strong growth trajectory [4] - The company benefits from Blackstone ownership, providing preferred access to major data center investments and supporting nationwide infrastructure expansion [4] Growth Outlook - Management projects ~15% organic top- and bottom-line growth in 2026, which appears conservative given recent performance [4] - Upside scenarios include a potential re-rating to peer multiples, which could result in a ~50% stock price increase over the next few years [5] Investment Case - The investment case is supported by modest downside risk, attractive free cash flow, and the potential for quick upside as the market recognizes LGN post-IPO [5] - Even under slower growth conditions, EBITDA expansion and recurring maintenance services provide a resilient floor for the company [5]

Core Insights - MAIRE and TECNIMONT have signed a non-exclusive Memorandum of Understanding (MoU) with Baker Hughes to explore collaboration on modularized, scalable LNG projects globally [1][2] Group 1: Collaboration Details - The MoU outlines a framework for evaluating future LNG tenders that will utilize Baker Hughes' NMBL™ LNG modular solution for liquefaction projects [2] - The partnership aims to assess project requirements and scopes of work to determine the most suitable cooperation model [2] Group 2: Strategic Importance - This collaboration leverages TECNIMONT's expertise in executing complex EPC projects and Baker Hughes's advanced gas liquefaction solutions [3] - The focus on modular and scalable LNG solutions is expected to enhance flexibility and reduce time to market, addressing the growing demand for efficient and lower-carbon LNG infrastructure [4] Group 3: Company Vision - MAIRE's CEO, Alessandro Bernini, emphasized that this agreement is a significant step in supporting the evolution of global gas value chains with high-efficiency, modular solutions [5] - The collaboration is positioned to meet the increasing demand for flexible LNG capacity, contributing to energy security and a sustainable energy system [5] Group 4: Company Overview - MAIRE S.p.A. is a leading technology and engineering group focused on advancing the Energy Transition, operating in 50 countries with approximately 10,500 employees [6] - The company provides Integrated E&C Solutions and Sustainable Technology Solutions across three business lines: Sustainable Fertilizers & Nitrogen-Based Fuels, Low-Carbon Energy Vectors, and Circular Solutions [6]

Core Viewpoint - Colliers has announced a definitive agreement to acquire Ayesa Engineering, enhancing its global engineering capabilities and market presence in the high-growth engineering and project management sector [1][5]. Group 1: Acquisition Details - Colliers will acquire Ayesa Engineering for approximately US$700 million in cash, with the transaction expected to close in the second quarter of 2026 [4]. - Ayesa Engineering generated approximately US$370 million in gross revenues in 2025, showcasing its significant market presence [3]. Group 2: Strategic Implications - The acquisition solidifies Colliers' Engineering segment as a formidable global player, expanding operations to 23 countries with nearly 14,000 professionals [2]. - Ayesa Engineering's existing leadership will retain significant equity and continue operating the business, ensuring continuity and leveraging their expertise [2][5]. Group 3: Company Profiles - Ayesa Engineering, founded in 1966, employs over 3,200 professionals across 21 countries, providing multidisciplinary engineering design and project management services [3][8]. - Colliers operates through three platforms: Real Estate Services, Engineering, and Investment Management, with annual revenues of $5.5 billion and a team of 24,000 professionals [7].

Core Viewpoint - KBR will host a conference call to discuss its fourth quarter and fiscal 2025 financial results on February 26, 2026, at 7:30 a.m. Central Time [1] Group 1: Conference Call Details - The conference call will be webcast simultaneously through the Investor Relations section of KBR's website [2] - A replay of the webcast will be available after the call on the website or by telephone [2] Group 2: Company Overview - KBR delivers science, technology, and engineering solutions to governments and companies globally [3] - The company employs approximately 37,000 people worldwide and serves customers in over 80 countries [3] - KBR operates in more than 29 countries, providing technology, value-added services, and long-term operations and maintenance services [3]

By John Revill ZURICH, Jan 29 (Reuters) - ABB shares surged on Thursday after the Swiss engineering group posted record quarterly order intake and gave a confident outlook for ​2026, saying customers were investing in automation and electrification despite political uncertainty. The move from other ‌power sources to electricity was a long-term trend, Chief Executive Morten Wierod said, after ABB reported orders up 36% ‌in the fourth quarter to their highest ever quarterly level of $10.32 billion. The ...