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Operator: Greetings. Welcome to the CBRE Group Second Quarter 2026 Earnings Call. At this time, all participants are in a listen-only mode. Please note this conference is being recorded. I will now turn the conference over to Chandni Luthra, Global Head of FP&A and IR for CBRE. Thank you. You may begin.
Chandni Luthra: Good morning, everyone. And welcome to CBRE's Second Quarter 2026 Earnings Conference Call. Earlier today, we posted a presentation deck on our website that you can use to follow along with our prepared remarks and an Excel file that contains additional supplemental materials. Today's presentation contains forward-looking statements including, without limitation, statements concerning our business outlook, business plans, capital allocation strategy as well as our earnings and free cash flow outlook. These statements involve risks, and uncertainties that may cause actual results and trends to differ materially. For a full discussion of the risks and other factors that may impact these statements, please refer to this morning's earnings release and our other SEC filings. We have provided reconciliations of our non-GAAP financial measures discussed on our call to the most directly comparable GAAP measures together with explanations of these measures in our presentation deck appendix. Throughout our remarks, when we cite financial performance relative to expectations, we are referring to actual results against the outlook we provided on our first quarter 2026 earnings call in April, unless otherwise noted. All the growth rates we cite are in U.S. dollars unless otherwise noted and reflect an FX tailwind of 1% to 2%. Also as a reminder, our resilient businesses include facilities management, critical infrastructure services, property management, project management, loan servicing, valuations, other portfolio services and recurring investment management fees. Our transactional businesses are comprised of property sales, leasing, mortgage originations, carried interest and incentive fees in the investment management business and development fees. I am joined on today's call by Robert E. Sulentic, our Chairman and CEO and Emma E. Giamartino, our Chief Financial Officer. Now please turn to slide 3 as I turn the call over to Bob.
Robert E. Sulentic: Thank you, Chandni, and good morning, everyone. The momentum in CBRE's business continued in the second quarter with core EPS up 30% on a 16% revenue increase. Our strength was balanced across the company. Each of our segments advisory, building operations and experience, project management, and REI grew SOP by more than 25%. Our strategy is working the way we intended. Resources and investments are being productively directed into areas that drive current growth and position us for long-term growth. Directly related to this positioning, over the last several months, we have received many questions from investors. About our infrastructure and data center services businesses. Those businesses …
