“We remain confident in our ability to deliver our 2025 plans and are energized by the robust operational start to the year and sustained high level performance.”

In context

“usinesses although the amplitude was a little softer than expected as momentum in industrial, semiconductor and discrete MRO was offset by muted performances in automotive and factory automation. We are expecting discrete orders to turn slightly positive in Q2 with a more meaningful orders ramp in the second half. We saw robust underlying demand for our software solutions across the portfolio with 10% growth in ACV, or annual contract value, led by double digit growth from control systems and software. Emerson again executed at a world-class level and demonstrated the profitability of our transform portfolio as margin leverage, adjusted earnings per share and cash flow all exceeded our expectations. Q1 underlying sales were inside the guide. Now I'll go into more detail on the next slide. We remain confident in our ability to deliver our 2025 plans and are energized by the robust operational start to the year and sustained high level performance. We are pleased to reiterate our guidance for underlying sales, adjusted earnings per share and free cash flow with outstanding execution offsetting the profitability headwinds from the large movements in FX since our initial guide. Additionally, we are increasing our expectations for operating leverage for the year to the 70s from the mid-40s. The growth and profitability of the Emerson portfolio is evident supported by our exceptional team, world-class technology and differentiated Emerson Management System. Last week we took a significant step forward in the final phase of our portfolio transformation by reaching an agreement with AspenTech under which Emerson would acquire all outstanding shares of AspenTech common stock not already owned by Emerson for $265 per share pursuant to an al”