Nigel Coe
Wolfe Research, LLC

Great. So we're going to get started again, with the Wolfe 19th Annual Transportation & Industrial Conference with Carrier, and it's a great pleasure to welcome back Chairman and CEO, Dave Gitlin; and also have Mike Rednor from IR on stage as well.

Nigel Coe
Wolfe Research, LLC

So Dave, I thought it would be a good opportunity to maybe just give us a lay of the land in terms of what you're seeing out there as we enter the summer season.

David Gitlin
Chairman & CEO

Nigel, first, thanks to you. Thanks to Wolfe for having us back. When you look at Carrier, the part of our portfolio that has been really good is off the charts good. So over 40% of the portfolio is a combination of commercial HVAC and aftermarket. Commercial HVAC with the tailwind of data centers has been strong double digits 5 years in a row, 6 years in a row. This year will be up certainly double digits again. You saw our data center orders in the first quarter up 500%. Data center orders will be good again in the second quarter. And we had said that we would grow from $1 billion last year to $1.5 billion this year.

We have orders to now our coverage for the year supports the $1.5 billion, so it becomes an execution issue. It is a little bit back-end loaded. Internally, we're certainly driving to exceed that number, and it's not going to be a function of more orders for the