“The impact of price is expected to be similar to what we saw in the second quarter versus the prior year.”

In context

“versus the prior year, with higher volumes across all three primary segments. By segment, in Construction Industries, we expect sales increase in the third quarter versus the prior year on volume growth driven by strong sales to users. The year over price comparison begins to ease this quarter. We expect our sales merchandising programs will continue yielding results, supporting strong sales to users, but a headwind to our price realization in the quarter with the unfavorable impact, roughly half the size we saw in the second quarter of 2025. This headwind should continue to diminish in the fourth quarter. In Resource Industries in the third quarter, we expect slightly higher sales versus the prior year, primarily due to higher volume, partially offset by an unfavorable price realization. The impact of price is expected to be similar to what we saw in the second quarter versus the prior year. In Energy & Transportation in the third quarter, we anticipate sales growth versus the prior year driven by continued strength in power generation. We also expect higher sales in oil and gas driven by Solar Turbines and turbine-related services. Price realization should remain favorable as well. Now I'll provide some color on our third quarter margin expectations. Excluding the net impact from incremental tariffs, we expect the third quarter enterprise adjusted operating profit margin will be similar to the prior year with higher sales volume about offset by unfavorable price realization and higher SG&A and R&D costs. Including the net impact from incremental tariffs, we anticipate a lower enterprise adjusted operating profit margin in the third quarter versus the prior year. As I mention”