For the rail market, we've seen some short-term tightening of budgets in the Americas, although we expect that a couple of upcoming rail-focused trade shows will generate special projects and orders.

Mar 25, 2025 / receipt, needs a key / Paul Sternlieb, CEO | earnings call 2025-03-25 | transcript 80fc5f87-4d34-4d4f-bac3-975f58546495 | chars 7569-7768 | segment 7

Now moving on to Asia-Pacific, The region had a year-over-year core growth percentage in the low single digits. Unfortunately, COVID continues to be a challenge, specifically in China, with COVID restrictions creating some supply chain disruptions in the quarter. As of December 1st, some of the local governments are gradually easing the COVID test and travel restrictions, and China is now moving from no COVID to living with COVID.

Dec 21, 2022 / receipt, needs a key / Paul Sternlieb, CEO | earnings call 2022-12-21 | transcript d63b1aa6-b563-41be-ac36-e699b0e277d3 | chars 11260-11694 | segment 11

The increase was primarily driven from higher accrued incentive compensation, an increase in travel and entertainment, and a non-recurring insurance expense, partially offset by savings tied to restructuring actions taken in the prior year, along with Ascend initiatives.

Dec 21, 2022 / receipt, needs a key / Tony Colucci, CFO | earnings call 2022-12-21 | transcript d63b1aa6-b563-41be-ac36-e699b0e277d3 | chars 16392-16663 | segment 16

The increase was primarily driven from higher short-term incentive compensation, incremental travel and entertainment, which was linked primarily to our commercial leadership teams, and increased advertising costs.

Sep 29, 2022 / receipt, needs a key / Tony Colucci, CFO | earnings call 2022-09-29 | transcript ab82f85e-7aa1-4e60-b862-03cea7ee4fb0 | chars 16277-16491 | segment 16

The increase was primarily driven by higher-than-normal employee medical costs due to several significant employee claims hitting in the quarter, along with incremental travel from our commercial and leadership teams, which were higher than the COVID-impacted travel levels of Q3 fiscal 2021.

Jun 28, 2022 / receipt, needs a key / Tony Colucci, CFO | earnings call 2022-06-28 | transcript 9f1428d2-32d6-4b3a-b2c1-0ad79c8953c4 | chars 19096-19388 | segment 19

With that said, COVID variants are causing some continued restricted access to distributors and customers, with challenges remaining around travel to certain regions or countries, and in some cases, continued quarantine requirements that are impacting our ability to serve our customers and therefore our overall service utilization rates.

Dec 21, 2021 / receipt, needs a key / Paul Sternlieb, CEO | earnings call 2021-12-21 | transcript b003a906-633b-4176-af60-00b611018f26 | chars 7324-7663 | segment 7

Moving to slide seven in the MNAC or Middle East region, MNAC experienced modest core growth but continues to face challenging COVID-related travel restrictions that change on short notice and project delays that pushed out into the second quarter.

Dec 21, 2021 / receipt, needs a key / Rick Dillon, CFO | earnings call 2021-12-21 | transcript b003a906-633b-4176-af60-00b611018f26 | chars 9708-9956 | segment 9

Moving on to Europe, which was our best performing sales region, posted nearly a 70% year-over-year core growth and nearly 10% improvement against 2019. Again, despite continued travel restrictions in many countries, our dealers covering multiple verticals like wind, infrastructure, and general torque and tension had a very good quarter, and both general and specialty distribution showed strength. We anticipate these verticals will continue to be positive throughout the remainder of the fiscal year due to continued government spending on infrastructure improvements as well as emphasis on clean energy.

Jun 29, 2021 / receipt, needs a key / Jeff Schmaling, Chief Operating Officer | earnings call 2021-06-29 | transcript c80d902e-1837-47cc-b25c-d7a60a21f96d | chars 8448-9056 | segment 8

I'm pleased to see our Asia Pacific region delivered nearly 20% year-over-year core sales growth despite continued challenges with ongoing COVID-related restrictions and lockdowns, and this was particularly in Southeast Asia. We continue to track these countries closely and work with our distribution to stay engaged with customers as they slowly return to in-person customer visits. Mining continues to be a bright spot in the region by favorable iron ore pricing, and PowerGen and infrastructure continue to be positive as well, and we have begun to see progress within oil and gas in Australia, in particular with increased quoting to support some of the large maintenance projects coming back online. Overall, we are pleased with what we're seeing in China and Australia, but we'll continue to use caution as we forecast recovery in Southeast Asia until we see sustained improvement in vaccinations and the relaxation of the travel restrictions still imposed there.

Jun 29, 2021 / receipt, needs a key / Jeff Schmaling, Chief Operating Officer | earnings call 2021-06-29 | transcript c80d902e-1837-47cc-b25c-d7a60a21f96d | chars 9200-10170 | segment 9

On the service side, in MENAC, COVID-related border lockdowns and restrictions still present significant challenges in this part of the world. Service work remained volatile, but as we exited the corridor, we're seeing signs that projects are starting to come back online, despite several being pushed out of Q3. As I've talked about for the last few quarters, the travel restrictions for our workers coming out of India, Nepal, and other areas has been a continuing challenge, but we are leveraging the crews we do have already in-country to pick up work and get started on some of the delayed projects that still remain in our backlog.

Jun 29, 2021 / receipt, needs a key / Jeff Schmaling, Chief Operating Officer | earnings call 2021-06-29 | transcript c80d902e-1837-47cc-b25c-d7a60a21f96d | chars 10776-11413 | segment 10

SGA favorability includes both reduced travel costs and outside consulting.

Mar 24, 2021 / receipt, needs a key / Rick, CFO | earnings call 2021-03-24 | transcript 81aa2af8-3068-4b60-b3a2-2f1a662d7e31 | chars 21320-21395 | segment 21

We expect travel costs to continue to fluctuate as sales and commercial activities expands or retracts by region.

Mar 24, 2021 / receipt, needs a key / Rick, CFO | earnings call 2021-03-24 | transcript 81aa2af8-3068-4b60-b3a2-2f1a662d7e31 | chars 21396-21509 | segment 21

Organic service revenue, year over year. - 26% Q1 FY26 - 17% Q2 FY26 - 8% Q3 FY26 Nine months to Q3: -18%

ir_statement / Sep 16, 2026 / receipt

Our portfolio choices. Moving away from low-value work towards more differentiated technical scopes.

ir_statement / Sep 16, 2026 / receipt

We executed a plan to right-size the resource levels in EMEA Service due to current market demand levels.

ir_statement / Sep 16, 2026 / receipt

EXPANSION IN ASIA PACIFIC

ir_statement / Sep 16, 2026 / receipt

EXPANSION IN TARGET VERTICAL MARKETS

ir_statement / Sep 16, 2026 / receipt

Expands addressable market by ~$1 billion, raising total SAM to $5.5 billion

ir_statement / Sep 16, 2026 / receipt

Adjusted EBITDA synergies of $4M to $6M by Year 3

ir_statement / Sep 16, 2026 / receipt

Estimated transaction cost of $5M to $8M, integration costs of $10M to $14M

ir_statement / Sep 16, 2026 / receipt

Purchase price of ~$472M funded by cash on hand and borrowings under a $225M expansion of current credit facilities

ir_statement / Sep 16, 2026 / receipt

Continuing to streamline SG&A through greater efficiency and productivity

ir_statement / Sep 16, 2026 / receipt

Driving further global standardization and simplification leveraging 80/20 framework

ir_statement / Sep 16, 2026 / receipt

Continuing to monitor discretionary spending closely.

ir_statement / Sep 16, 2026 / receipt