“Yes, quarter-over-quarter, flat in Q3, slightly positive in Q4 is kind of how we're looking at orders.”

In context

“ory in our portfolio business-related channel partners' distribution that should bleed out over the next quarter, which will be helpful for order rates in the portfolio business to turn. But net-net, we don't see any major dynamics around channel inventory that would impact our orders momentum. Operator: The next question is from Julian Mitchell, Barclays. Julian Mitchell: Maybe just wanted to start off with the Discrete Automation business. Ram, you touched on the inventories at some of the customer levels just now being normal. So when we think about your discrete business, is it in the third quarter sort of flattish sales, down a little bit year-on-year and in the fourth quarter in discrete, you're up year-on-year and sequentially? Is that the recovery slope? Ram Krishnan: Yes, sir. Yes, quarter-over-quarter, flat in Q3, slightly positive in Q4 is kind of how we're looking at orders. We saw a recovery in the fourth quarter, correct. And then for Test & Measurement, which is also exposed to the discrete markets but a different type of discrete market exposure, recovery into the first half of '25 primarily because of the heavy play in semicon and a bigger portfolio of business in China. Two of those markets are seeing slower recovery than our broader Discrete Automation business within the core Emerson. Julian Mitchell: That's helpful. And maybe just on the Aspen side of things, Lal, you'd mentioned the CFO change and reiterated there's no big portfolio actions at Emerson this year. Maybe just characterize sort of with Aspen in general, how you're thinking about your discussions with them on their capital deployment plans. I've seen they've continued to do the share bu”