“We are adjusting our full-year guidance for sales to reflect the Middle East conflict and now expect full-year underlying sales growth of approximately 3%.”

In context

“was up 2% underlying, driven by electrical products and stable project activity in North America, while European markets remain soft. Safety and Productivity’s margin of 21.7% was down 10 basis points year over year, driven by lower volume, offset by benefits from price and cost reduction. Please turn to Slide 10, where I will bridge Q2 adjusted EPS from the prior year. Excluding the $0.09 impact of software renewals, operations delivered $0.08 of incremental EPS in Q2. Of this, Software and Systems contributed $0.05, Intelligent Devices added $0.02, and Safety and Productivity contributed $0.01. Non-operating items added $0.07, primarily from FX benefits. Overall, adjusted EPS grew 4% year on year to $1.54. Please turn to Slide 11 for our 2026 underlying sales guidance by Business Group. We are adjusting our full-year guidance for sales to reflect the Middle East conflict and now expect full-year underlying sales growth of approximately 3%. We expect Software and Systems to be up approximately 8% in Q3 and are increasing our full-year expectations to up 5% based on the strength of our growth verticals in this business and strength in the U.S. Test and Measurement is planned to grow mid-teens in Q3 and low teens for the full year, up from our prior expectations of high single-digit growth in 2026. The Control Systems and Software segment is expected to grow mid-single digits in Q3 and low single digits for the full year. We continue to see robust adoption of our software and still expect ACV growth of 10% plus in 2026. Intelligent Devices is projected to grow 4% in Q3, and we are lowering our full-year expectations to approximately 2% driven by the conflict in the Middle East. Second-half growth in Intelligent Devices is supp”