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    Joe O'Dea • Wells Fargo

    Joe O'Dea's questions to Parker-Hannifin Corp (PH) leadership

    Joe O'Dea's questions to Parker-Hannifin Corp (PH) leadership • Q4 2025

    Question

    Joe O'Dea of Wells Fargo asked for details on the composition of the 8% aerospace organic growth forecast for FY26, focusing on margin mix between OE and aftermarket, and inquired about Meggitt synergy contributions. He also asked about the gating factor for converting distributor quoting activity into firm orders.

    Answer

    Chairman and CEO Jennifer Parmentier reiterated the growth breakdown (OEM high-single, MRO low-double) and stated confidence in continued margin expansion. EVP & CFO Todd Leombruno added that $50 million in Meggitt synergies remain and will be realized through the year. Regarding distributors, Parmentier identified uncertainty around tariffs and interest rates as the primary factors delaying purchasing decisions, but noted distributors remain bullish.

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    Joe O'Dea's questions to Johnson Controls International PLC (JCI) leadership

    Joe O'Dea's questions to Johnson Controls International PLC (JCI) leadership • Q1 2025

    Question

    Joe O'Dea asked about the progress of the company's restructuring program, including the expected cost and savings impact in 2025. He also inquired about the evaluation of pricing in the backlog and the ability to be compensated for value delivered.

    Answer

    CFO Marc Vandiepenbeeck said restructuring expectations are unchanged, with early benefits in the second half of 2025 but the majority of savings realized in fiscal 2026. He explained that pricing power comes from selling full, outcome-based solutions, and contracts typically include change-order processes to recover costs and margins from factors like tariffs.

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    Joe O'Dea's questions to Dover Corp (DOV) leadership

    Joe O'Dea's questions to Dover Corp (DOV) leadership • Q3 2024

    Question

    Joe O'Dea asked for context on the positive inflection in below-ground fueling and sought clarification on the $25 million restructuring carryover for 2025, asking if more actions were planned.

    Answer

    CEO Richard Tobin explained the fueling recovery is driven by improved labor availability and easing inflation. He clarified the $25 million in restructuring is from 2024 actions, and that additional restructuring costs are expected in 2025 to achieve synergy targets from recent acquisitions, particularly in Clean Energy.

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