“As expected, underlying orders in our process and hybrid businesses grew mid-single digits in the quarter and are expected to maintain similar growth in the fourth quarter.”

In context

“urth quarter, we expect underlying sales growth of 5% to 6%, driven by further improvements in Test & Measurement and sustained growth in our process and hybrid businesses. We project adjusted segment EBITDA margin of 27%, higher than previously planned due to the impact of lower tariff exposure with adjusted EPS of $1.58 to $1.62. As we look forward to fiscal 2026, we expect strong exit rates for underlying orders to support underlying sales within our growth framework. Additionally, we will be hosting an investor conference on November 20 in New York City. We look forward to talking about our transport portfolio and a differentiated value creation framework. More details will be communicated as we approach the conference. Please turn to Slide 5. Emerson's demand outlook remains healthy. As expected, underlying orders in our process and hybrid businesses grew mid-single digits in the quarter and are expected to maintain similar growth in the fourth quarter. The secular need for energy security and affordability is leading to significant activity in LNG across the globe and increasing electricity demand in the Americas and Asia is driving robust activity in power. For example, underlying orders in our Ovation business were up 40% in the quarter. and we expect to end the year up over 20%. We are also seeing strong demand in Life Sciences with customers investing in biomedicines and GLP-1 drugs. The capital cycle remains constructive, and we continue to see new investments, replenish projects booked from our $11.2 billion funnel. Underlying orders in our discrete businesses were up 6% in the third quarter, led by Test & Measurement, which was up 16% due to robust growth across all world areas. The recovery in these markets is building momentum,”