Above expectations – both revenue and margins rose, with core drivers being strong project demand and M&A expansion.

Net revenue $1.98 billion (+15.3%), organic growth 10.4%; adjusted EBITDA margin 11.9% (+70bps), EPS $0.32 (+28%).

Safety Services grew 5.4% organically, Specialty Services grew 24.8%. Announced three acquisitions – CertaSite, Wtech, and Onyx (aggregate value over $1 billion), strengthening fire protection businesses in North America and Europe; data center revenue share maintained at 10–11%, M&A pipeline remains healthy.

Full-year guidance raised: net revenue $8.475–$8.675 billion, adjusted EBITDA $1.15–$1.21 billion, implying a midpoint margin of 13.8%.

Management's tone is positive, emphasizing pricing power to hedge inflation; the "forever home" acquisition narrative reinforces long-term confidence.