“The segment's operating margin has also been increased and is now projected to be between 10% and 12% for the full year.”

In context

“The fundamentals behind the construction industry remain favorable. With healthy customer backlogs being supported by infrastructure large project spending that is more than offsetting softness in residential construction. Global forestry markets are expected to decline 5%. Reflecting continued pressure from weak residential construction activity and low log and lumber prices. We now expect global roadbuilding markets to grow approximately 10% year-over-year. Supported by elevated road construction spending across multiple geographies. Moving on to Slide 11. The 2026 net sales are now forecasted to be up approximately 20% for the full year. This net sales guidance for the year includes 2.5 points of favorable price realization and approximately 2 points of favorable currency translation. The segment's operating margin has also been increased and is now projected to be between 10% and 12% for the full year. Now transitioning to our Financial Services operations on Slide 12. Worldwide Financial Services net income attributable to Dier and Company in the second quarter was $190 million The year over year increase is a result of favorable financing spreads and favorable derivative valuation adjustments partially offset by the impact of a lower average portfolio. For fiscal year 2026, we raised our full year outlook to $860 million primarily driven by favorable fair value adjustment and improved provision for credit losses. And finally, Slide 13 outlines our guidance for net income effective tax rate and operating cash flow. For fiscal year 26, our net income forecast remains unchanged between $4.5 billion and $5 billion Next, our guidance now incorporates an effective tax rate between 24% and 2”