“With AspenTech's strong results in Q3, we are bringing their expected EPS contribution back up to $0.32 to $0.34.”

In context

“contributing approximately 9.5 points of growth, offset by a 0.5 point drag from FX. We are increasing our operating leverage expectations to the mid- to high 40s, driven by the strong leverage performance through the first 9 months and strong leverage expected in Q4. We are raising the midpoint of adjusted EPS guidance and expect $5.45 to $5.50. Test and Measurement is now expected to contribute $0.42 to $0.44. Test and Measurement is a business with very strong leverage, so the impact of our synergy actions are helping maintain profitability despite a weaker volume environment than initially planned. For the full year, we expect Test and Measurement's adjusted segment EBITDA margin to be approximately 23%, a couple of points above the prior year benefiting from the synergy realization. With AspenTech's strong results in Q3, we are bringing their expected EPS contribution back up to $0.32 to $0.34. We are also raising our free cash flow expectations for the year to approximately $2.8 billion, driven by the working capital improvements and Q3's performance. Dividend and tax rate expectations are unchanged, and we now expect approximately $300 million of share repurchase. We have been focused on debt pay down, particularly with short-term interest rates staying higher for longer, and we retired €500 million of term debt that came due in Q3. Our performance through the first 9 months has exceeded expectations, and we are excited to continue delivering strong results. Our transformed portfolio has meaningfully improved with higher profitability driven by gross profit margins above 50% and higher organic growth driven by secular trends, and our Emerson management system is driving operat”