Energy Systems Segment Performance
Energy Systems sales increased by 8% with operating income margins improving by 250 basis points to 32.8%, primarily due to favorable geographic mix of sales and effective cost management.
Successful Acquisitions
Completed two strategic acquisitions in the first quarter: PumpEng and Barnsley, enhancing product portfolio, channel reach, and adding vertically integrated businesses in key regions.
Stable Water Systems Sales in North America
Water systems sales in the U.S. and Canada increased by 2% with groundwater pumping equipment sales up by 6% and water treatment products by 7%.
Resilient Margin Performance
Despite challenges, the gross margin improved slightly to 36%, indicating underlying operational strength.