Hey, it's Kramer, and this is my morning take on the market from today's CBC Investing Club morning meeting.

Let's jump right to the cat quarter. Revenue's up 21%, adjusted earnings up 74%.

$5.55, beating estimates by about a dollar. Marins are strong. Why? Well, their pricing was up big, up 10%,

much increasing much faster than their manufacturing costs. That's how you get big margin expansion.

They'd be really on every single line.

Every line. Construction industries, seeing strong things in non-residential for,

due to government-related infrastructure projects uh residential better than

expected resource industries it's it's construction inquiry and aggregates seeing good growth there

from infrastructure which by the way still in its very earliest of innings and i can't get the

the CEO to talk about he won't because he's a certain,

not a hype artist, who's unwilling to take my bait of talking about all the business he has.

So very, still very much a 2024 story for this. Yes. You did have the backlog increased by about

0.3 billion, $300 million.

That was big to see because everyone was concerned the last couple of quarters.

Are we at peak backlog?

Well, they've disproved that theory with backlog growth sequentially.

By the way, energy and transportation, a lot of it is thought to be known.

They make some of the turbines in the oil and gas, but they're also doing,

the data center is where they're seeing growth as well for reciprocating engine demand.

I was worried that data center would be slowing down because we've seen that a lot of Intel

said data center slowing down. It's not. What I think is really important is that a lot of people still feel it's China.

China is less than 5%.

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