“For the year, we expect to return approximately $3.2 billion to shareholders through dividends of approximately $1.2 billion and share repurchases of approximately $2 billion, of which we completed approximately $1 billion in the first quarter as planned.”

In context

“cond half as we are expecting recovery in chemical and discrete with power continuing to be strong in the region. We are holding underlying sales at 3% to 5% but lowered GAAP net sales guidance to 1.5% to 3.5% due to a foreign exchange headwind of approximately $350 million as the U.S. dollar strengthened at the end of Q1. This FX movement unfavorably impacted adjusted EPS approximately $0.08, which we have predominantly offset with our strong Q1 operational performance to hold our prior guidance of $5.85 to $6.05 per share. We are increasing our expectations for 2025 operating leverage to the 70s versus the mid-40s guidance from November due to the operating performance in Q1 and the impact of FX on leverage. We are reiterating our free cash flow guidance of $3.2 billion to $3.3 billion. For the year, we expect to return approximately $3.2 billion to shareholders through dividends of approximately $1.2 billion and share repurchases of approximately $2 billion, of which we completed approximately $1 billion in the first quarter as planned. In the second quarter, we expect underlying sales to be up 1% to 2% and FX to be unfavorable by approximately 1.5 points. Our growth reflects tough prior year comps for our process and hybrid businesses and continued softness in discrete. However, discrete volumes are expected to be up sequentially and better on a year-over-year basis compared to the Q1 year-over-year change. We expect adjusted segment EBITDA margin of approximately 26.5% and adjusted EPS between $1.38 and $1.42. Consistent with November's guide, our current guidance includes safety and productivity and a 57% ownership of AspenTech. We have provided the contribution of safety and productivity as a reference for investors to understand when an exit of this business could look like. For the year, we continue to expect safet”