Increased Backlog
The backlog increased by $67 million, or 23% year-over-year, reaching $360 million due to longer-cycle project orders.
Order Growth
Orders grew by 2% year-over-year to a total of $259 million, with 8% growth in project-related orders, particularly strong in EMEA.
Adjusted EPS Exceeds Expectations
Adjusted earnings per share (EPS) was slightly ahead of expectations, reaffirming guidance for the full year.
Price Increases Implemented
Price increases have been implemented in the U.S., effective July 10, expected to be realized over the next few quarters.
Acquisition of Kito Crosby
The pending acquisition of Kito Crosby is expected to scale the business, expand customer capabilities, and accelerate the Intelligent Motion strategy.
Strong Performance in Targeted Markets
Strength in vertical end markets like battery production, e-commerce, food and beverage, and aerospace.