Backlog Growth
Backlog increased by $2.5 billion, reaching a record level of $37.5 billion, driven by strong order rates across all three primary segments.
Energy & Transportation Segment Performance
Energy & Transportation sales increased by 7% year-over-year, with significant growth in power generation sales (28%) and an overall 9% increase in sales to users.
Shareholder Returns
Approximately $1.5 billion was returned to shareholders through share repurchases and dividends during the quarter.
Positive Cash Flow
ME&T free cash flow was about $2.4 billion in the second quarter, reflecting strong operating cash.
Strong Financial Position
The company issued bonds totaling $2 billion at attractive rates, maintaining a strong balance sheet with $5.4 billion in enterprise cash.