The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Ken Herbert - RBC Capital Markets Inc - Analyst
: Yeah. Hi, good afternoon, John and Sean. Maybe this first question you raised sort of the full-year expectation and now approaching 10% versus
up 9% coming out of the fourth quarter. Is all just better results in the Parts Supply, or maybe you can just parse out sort of what's behind the slight
uptick in the full-year expectations?
Question: Ken Herbert - RBC Capital Markets Inc - Analyst
: And can you just comment on the pipeline for new distribution agreements? I mean, it sounds like OEMs continue to look to maybe find additional
partners. Are you taking share to drive that growth, or is it really sort of first-time opportunities where parts are coming to the market through
distribution?
Question: Ken Herbert - RBC Capital Markets Inc - Analyst
: Great. Thanks, John. Nice quarter. I'll pass it back there.
Question: Sam Struhsaker - Truist Securities - Analyst
: Hi, guys. Thanks for taking the question. On for Mike Ciarmoli, and nice results as well. I think in the results, you guys mentioned that you've been
investing a little bit in inventory to support the strong demand in Parts Supply. I was just curious how we should think about -- are you guys kind
of satisfied with where you are with inventory or maybe where you might be going with that as growth continues?
Question: Sam Struhsaker - Truist Securities - Analyst
: Great, I'll keep it at one for now. Thank you.
Question: Noah Levitz - William Blair Capital Partners - Analyst
: Thanks. John and Sean, good afternoon. Thanks for taking my questions. To start off, this is more strategic or high-level question. But a lot of your
peers have commented on the notable strength specific to the engine aftermarket. So can you talk about your exposure, whether across Parts
Supply or Repair and Engineering, to engine-related aftermarket services, any key themes or just puts and takes there? Thanks.
Question: Noah Levitz - William Blair Capital Partners - Analyst
: Awesome, and then just another quick one drilling in on Trax. Can you talk about how far along you are making Trax into more of an e-commerce
marketplace, which can hopefully lead to more cross-sell opportunities with your parts distribution business? What trends are you seeing there?
Thanks.
Question: Noah Levitz - William Blair Capital Partners - Analyst
: All right. Thank you.
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