“As discussed, discrete orders have turned positive and will benefit from easier sales comps resulting in a meaningful second half recovery and low single digit full year growth in our discrete businesses.”

In context

“of 1.5 points of unfavorable FX. Turning to EPS, we are raising the midpoint of our adjusted EPS guide and now expect to land the year between $5.90 and $6.05. We have an $0.08 benefit from the outstanding operational performance in the second quarter. And as Ram outlined, we expect completely offset the earnings impact of tariffs in 2025. The softer demand dynamics mentioned earlier results in an approximately $0.10 headwind for the year, while the impact of the change in our FX expectation provides approximately $0.05 of upside relative to the February guide. Please turn to slide 11 for additional details on our third quarter and full year 2025 guidance. We expect our Process and Hybrid businesses to grow mid-single digits for the year, supported by healthy backlog and pace of business. As discussed, discrete orders have turned positive and will benefit from easier sales comps resulting in a meaningful second half recovery and low single digit full year growth in our discrete businesses. Adjusted segment EBITDA margin for the year is expected to be approximately 27%, up 100 basis points over the prior year, but lower than the first half of the year due to the effect of tariffs and segment mix. Free cash flow guidance is now $3.1 billion $3.2 billion as we have rolled in the impact of the AspenTech acquisition. Strong operational performance in the first half helped offset AspenTech transaction related headwinds of approximately $200 million. Including these headwinds, free cash flow margin is expected to be approximately 17%. For the third quarter, we expect underlying sales to be up 3.5% to 4.5% and FX to be favorable approximately 1 point. Our growth reflects the continued positive environment for our Process and Hybrid businesses and a return to growth in our discrete”