Record Sales and Revenue Growth
Sales and revenues increased 10% to $17.6 billion, an all-time record for a single quarter. Backlog grew by about $2.4 billion, driven by strong orders in Energy & Transportation.
Strong Performance in Energy & Transportation
Sales to users increased by 25% year-over-year with double-digit growth across all applications. The largest growth came from power generation with a 33% increase.
Positive Free Cash Flow and Shareholder Returns
Generated $3.2 billion of ME&T free cash flow and deployed about $1.1 billion to shareholders through dividends and share repurchases during the quarter.
Improved Outlook for Full Year 2025
Anticipates strong sales growth for the fourth quarter with higher volumes in all three segments. Full year 2025 sales and revenues expected to be higher than previously anticipated.