“Now the good news is, I fully expect that we will end the year with a backlog with a seven handle on it. In fact, I expect it will be slightly higher than what we have today.”

In context

“out and are executing it every day to make sure that they maintain that margin and move forward with it. Let me go back to backlog then and I'll talk about backlog generally. Then we talk a little bit about the Korean win. So in Q4, I did say, that you should expect us to announce some electronics projects. This is first of a few that I expect that we will be announcing the backlog overall, $10 billion plus, $7 billion of that is sitting in the sale of gas side, which is where most of the interest is. And my expectation is that this year, probably towards the second half of the year, we will start up about a $1 billion out of that backlog. The best thing that happens in a backlog, as I've always said, is, you start the projects up and it comes out of your backlog and your backlog shrinks. Now the good news is, I fully expect that we will end the year with a backlog with a seven handle on it. In fact, I expect it will be slightly higher than what we have today. So, I feel pretty good about the projects that we're currently developing. Despite everything you read in the news, we have a good pipeline of projects. I think Matt made the point really eloquently earlier on. Our algorithm says that our capital allocation will deliver 4% to 6% of the EPS growth and, feeding into that is high quality projects and much of those projects will come from our traditional end markets. There'll be some from clean energy, but much of the project development will actually come and the project wins will come from our traditional end market. So that's kind of what gives us confidence that the backlog is going to look pretty good. And the project win rate is looking particularly strong at this point in time, given the circumstances in which we are operating. Peter C”