Selling into a wave of new capacity being built by others

Using ONLY the supplied earnings call transcript and no outside information: On this call, does management explain the company's current momentum and near-term trajectory chiefly by pointing to A WAVE OF NEW BUILDING, EQUIPPING, OR CAPACITY-CREATION BEING UNDERTAKEN BY OTHER PARTIES — its customers, its customers' customers, or institutions in its end markets — for which the company already supplies part of what those parties must buy, AND does management convey that this outside build-out is early or intensifying rather than mature, so that the business it will bring the company is mostly still ahead? Answer YES when management's own words convey, in whatever form fits the industry, ONE coherent situation in which all three of the following come through: (1) OTHERS ARE BUILDING, NOT JUST BUYING. Management describes counterparties putting NEW productive capability in place — constructing, expanding, retooling, electrifying, digitizing, re-shoring, fitting out, upgrading, or standing up plants, sites, facilities, networks, fleets, systems, programs, stores, labs, clinics, mines, farms, or infrastructure of their own. The distinguishing feature is that the demand behind the company's business is CREATION OF NEW CAPACITY BY SOMEONE ELSE, not the ordinary flow of orders for consumption, replacement, or routine restocking. Management may describe one very large builder or many, and may attribute the wave to any driver (industry expansion, technology transition, policy or funding programs, relocation of supply chains, a new end-market emerging, or simply customers racing to add capacity). (2) THE COMPANY IS ALREADY IN IT, WITH REAL CURRENT BUSINESS. Management points to actual present-tense evidence that this build-out is already reaching the company — orders, awards, projects, shipments, bookings, quoting activity, installations, or work underway in the recent period that management attributes to others' capacity additions. It must be business the company is already getting, not a market it hopes to serve. (3) THE WAVE IS EARLY AND BIG RELATIVE TO THE COMPANY. Management conveys, directly or plainly in substance, that the building has years or many more participants to run — more projects coming, later phases ahead, the builders still expanding, the program only starting to disburse — and that what the company has captured so far is small next to what the wave will spend, so the reported results reflect only the front edge of it. The essence is ONE phenomenon: the company sells picks into somebody else's construction boom, the boom is real and already paying it, and the boom is young. The industry, the type of builder, and what the company supplies (equipment, materials, components, engineering, software, services, labor, financing, or capacity) may vary widely. Answer NO if management explains its business chiefly through general demand strength, its own new products, share gains, pricing, cost actions, or macro conditions, with no identifiable build-out by others behind it. NO if the company's customers are described as consuming, replenishing, or replacing rather than creating new capacity. NO if the build-out is only anticipated, proposed, awaiting funding or approvals, or something management hopes will materialize. NO if management describes the wave but points to no actual current business arising from it. NO if management presents the building as peaking, decelerating, being digested, or at risk of overbuild, or if it is the ordinary permanent background level of capital spending in the industry with nothing notably expanding. NO if the company has already captured most of what the wave will spend, or is so large and diversified that the wave would not visibly change its trajectory. NO if the building described is the company's OWN capacity expansion rather than that of outside parties. NO if the idea appears only in an analyst's question or characterization that management does not itself affirm. Use only the supplied transcript. Answer only YES or NO.