“We still expect operations to generate about $0.50 of incremental EPS with approximately 80 basis points of margin expansion from positive price cost and the continued benefit of synergy realization from AspenTech and Test and Measurement.”

In context

“contribute around $0.05 to EPS with another $0.09 from non-operating items, primarily off FX, to offset a $0.09 impact from the software contract renewal dynamic. As a reminder, Q2 2025 adjusted EPS of $1.48 benefited from about $0.04 from the Total Energy's project that we discussed in our Q2 2025 earnings call. The lower volume from renewals in the Total Energy Energies deal impacts Emerson Electric Co.'s adjusted segment EBITDA margin by approximately 150 basis points compared to Q2 2025. We are guiding our Q2 2026 adjusted EPS at $1.5 to $1.55. For the full year, we are raising the bottom of our EPS guide by $0.05, reflecting the good performance in Q1. The renewal dynamic reduces adjusted EPS by approximately $0.05 and adjusted segment EBITDA margin by approximately 40 basis points. We still expect operations to generate about $0.50 of incremental EPS with approximately 80 basis points of margin expansion from positive price cost and the continued benefit of synergy realization from AspenTech and Test and Measurement. With that, I would like to turn the call back to the operator. Operator: Thank you. We will now be conducting a question and answer session. We also ask each person in the queue to limit themselves to only one question and one follow-up to allow everyone a chance. Our first question comes from the line of Andrew Kaplowitz with Citigroup. Please proceed with your question. Andrew Kaplowitz: Good afternoon, everyone. Hi, Andrew. Surendralal, could you break down a bit more your 9% order growth in Q1 between process and hybrid? I think you said 74% Ovation growth, which was impressive. And I think you said the mid-teens growth in Power is expected this year. But could that higher level behind-the-meter power opportunities lead to a more extended run rate of power? And then generally, would y”