“As you think about pricing towards the back half of this year, we'll lap those price merchandising program. So the headwind will become a little bit less year-over-year as we move towards the end of the year.”

In context

“having the backlog coverage is very encouraging. I'm just curious to sort of maybe get a lift going as we start, say, '26 on the margins, even with the tariff impact. Is there a way to reprice the backlog and maybe get the margin growth year-over-year say, as early as the beginning of '26? Joseph E. Creed: Yes. I mean I'll let Andrew chime in here, too. Thanks for the question, David. We -- generally speaking, we have flexibility on pricing in the backlog depending on which segment and the products that we have. As we look specifically, I think your question around margins and pricing specifically, we want to take into context the entire business. We're -- as you pointed out rightfully, we have good momentum in the business operations. Our backlog continues to grow in all three segments. As you think about pricing towards the back half of this year, we'll lap those price merchandising program. So the headwind will become a little bit less year-over-year as we move towards the end of the year. And I'm not saying we're definitely focused on margins, but our ultimate goal is dollar OPACC. That's going to drive dollar profitability and cash flow and good returns for everyone. So we're going to get the balance right. I think also you keep in mind, when it's merchandising programs with Cat Financial and rates over time, that's beneficial for us. So we get some of that back. So we're going to look at it. We haven't made any decisions definitively at this point in time. But as you stated, we're definitely happy with the momentum that we have. And as we move towards the back half of this year, we'll continue to look at all the levers that we have. I'd like to see how much we can mitigate on tariffs, specifically other ways before we use pricing as a lever. And then I think the other co”