Trane (TT) at CSFB Industrials Conference on the HVAC replacement cycle…. “I mean, I think — and I’ll talk about — let me talk about commercial HVAC first. I mean, I think the — and I’ve been here a while. So the lens 5 years ago used to be all about efficiency and the return on investment based on the savings you would drive. That conversation has shifted. That’s still important. But we’re also having a lot of conversations around what does that do to my carbon footprint? And what about indoor air quality? And because we go at this at a system level, we’re able to have those conversations with our customers about how do they can improve the efficiency of their building, not just from an equipment standpoint, but also from a control standpoint as well as how they can integrate indoor air quality solutions and have it not be a tax on energy or offset that tax on energy. So that’s on the commercial side. On the resi side, I would say, it’s still very early innings, but we certainly are seeing the retirement of assets early. And I’ll give you a great example. If a homeowner is going to put solar on their home, which if you’re in an airplane and you look out your window, like I do, you try to see if there’s any solar panels on houses, it doesn’t take long for the homeowner to realize it’s about supply and demand, right? And if you have an old HVAC system in your home, there’s a lot of demand, and the supply with your panels will be relatively constant. So you have to monitor that. So we’re starting to see, even on the residential space, people are taking this green approach here and saying, “Hey, look, what can I do that’s good for the world and how could I improve the next generations that are going to live here?” So we’re starting to see, I’d say it’s early innings, but we’re certainly seeing momentum on the commercial side.”

Insulet (PODD) at Nasdaq Investor Conference on pump penetration at 1/3 moving to 2/3…. “I think 2 things, 2 trends are happening in the marketplace that make us confident in kind of the trajectory of the pump market, particularly in the United States but globally as well. The first is what’s been happening with CGM adoption. And this trend of more and more people adopting continuous glucose monitoring is really positive for Omnipod and for pump adoption. Because as people get comfortable wearing a device, as they get access to real-time data, they get very clear indication that they’re spending less time than they would like in target glucose range. And that then causes them to look out for other technologies that can help them get into better range. And Omnipod is clearly one of those technologies. The other thing it does is get a user very comfortable wearing something on their body. Omnipod is a wearable just like a Dexcom or a Libre is a wearable. And so that’s a helpful trend for us as well. So as we see more and more adoption of CGM, following that has been more and more adoption of pump therapy, in particular Omnipod. The other thing that has happened is we have been able to unlock and establish very broad, affordable access. And this is both for the type 1 segment and the type 2 segment. And that has helped us then to think more broadly about our potential application of Omnipod. I think previously pump therapy was really relegated to the type 1 user. And that was primarily because it was viewed as very complex, very expensive therapy that required a user to be locked into 4 years of therapy because of industry business models and conventions.”