“Safety & Productivity growth is expected to be approximately flat for the year.”

In context

“ong outlook for power generation, transmission and distribution due to the significant demand growth for electricity related to AI and data centers. Finally, we expect mid-single-digit growth in Europe from continued investments in the energy transition. Please join me on Slide 22 for details on our guidance for the first quarter and full year 2025. It should be noted that our 2025 guidance is based on the current company without the impact of today's announced portfolio actions. We have provided the relevant Safety & Productivity contribution of the guide to help investors size the potential impact of the strategic review of that business, and we have continued to detail our expectations for our 57% ownership stake in AspenTech. Underlying sales are expected to grow 3% to 5% in the year. Safety & Productivity growth is expected to be approximately flat for the year. And because it is only about 8% of total Emerson sales, it is not expected to have a material impact on the overall growth rate for the year when it exits our results. Operating leverage, which now includes Test & Measurement, is expected to be in the mid-40s. We expect adjusted earnings per share for the year to be between $5.85 and $6.05. AspenTech's contribution is expected to be $0.44 to $0.46 for the year, and Safety & Productivity is expected to contribute approximately $0.48. Full year free cash flow is expected to be $3.2 billion to $3.3 billion with approximately $0.2 billion from Safety & Productivity. For the first quarter, we expect underlying sales to increase 2% to 3% with leverage in the mid-50s. We expect adjusted EPS of $1.25 to $1.30, of which $0.10 to $0.11 comes from A”