Financial Data and Key Metrics Changes - Fourth quarter sales were $511 million, an increase of 2% on a reported basis, with a 3% organic decline and a 3% contribution from M&A [13][14] - GAAP gross margins improved sequentially to 46.9%, reflecting a 40 basis point increase from the third quarter [13] - Adjusted diluted earnings per share were $2.38, up 6% from last year [14][17] - Full year net sales were $1.9 billion, up 4% or 1% on an organic basis [17] Business Line Data and Key Metrics Changes - Detection segment saw 17% organic growth, driven by strength in fixed detection, while fire service declined 21% year-over-year [6][15] - Industrial PPE organic sales were up 1%, with fall protection moderating from previous quarters [6][15] - M&C TechGroup acquisition contributed $15 million to the quarter [6] Market Data and Key Metrics Changes - Americas segment sales declined 1% year-over-year on a reported basis, with a 3% organic decline [15] - International segment sales increased by 8% year-over-year on a reported basis, with a 6% contribution from M&C [16] - Organic sales in fire service experienced a double-digit contraction, primarily driven by delayed orders [16] Company Strategy and Development Direction - The company executed its Accelerate strategy, focusing on serving customers and protecting workers [4] - Strategic priorities for 2026 include driving profitable growth and extending market leadership [24] - The company plans to leverage investments in energy and industrial markets for future growth [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the pipeline of opportunities in the fire service and energy sectors for 2026 [11][12] - The company anticipates mid-single-digit full-year organic growth, with M&C contributing approximately 1 percentage point to revenue growth [22] - Management acknowledged ongoing uncertainty and volatility but remains optimistic about navigating macro challenges [23] Other Important Information - Free cash flow reached $295 million for the full year, with a 106% conversion rate [20] - The company returned $61 million to shareholders via dividends and share repurchases [19] - Net debt at year-end totaled $416 million, down $43 million sequentially [21] Q&A Session Summary Question: Detection business growth explanation - Management indicated that strong growth in detection was driven by large orders received in the fourth quarter, with underlying demand remaining strong [29][30] Question: Fire service cadence outlook - Management expects delayed orders from the fire service to materialize in the first half of the year, with a return to normal demand patterns expected in the second half [31][32] Question: Detection growth outlook for 2026 - Management anticipates mid-single-digit revenue growth for detection in 2026, despite tough comparisons from the previous year [40][41] Question: Margin outlook for 2026 - Management aims for margin recovery through efficiency and pricing actions, with expectations for sequential improvement in margins [42][44] Question: Infrastructure and project activity - Management noted that project activity in energy and chemicals remains strong, with expectations for continued investment in 2026 [53][54] Question: Connectivity expansion across product lines - Management is focused on expanding connectivity in their product lines, particularly in detection and portable solutions, to enhance customer value [85][86]