“Sales should increase sequentially across the portfolio, led by Aerospace as we experienced additional supply chain unlock, as well as continued growth in flight hours and shipset deliveries.”

In context

“ability to accelerate growth within our long-term framework in the coming quarters. We now expect full-year sales to be in the range of $38.6 billion to $38.8 billion, representing organic growth of 3% to 4%, down from 5% to 6% previously. The lower guide reflects the lower third quarter results, a slower recovery in industrial automation and more tempered expectations in pockets of Aerospace and Energy markets in the fourth quarter. As a reminder, our guidance includes the impact of all four acquisitions: Access Solutions, Civitanavi, CAES, and LNG now all closed. Collectively, they will add approximately $800 million in sales in 2024, consistent with prior communications. For the fourth quarter, we anticipate sales in the range of $10.2 billion to $10.4 billion, up 2% to 4% organically. Sales should increase sequentially across the portfolio, led by Aerospace as we experienced additional supply chain unlock, as well as continued growth in flight hours and shipset deliveries. Turning to segment margins, our strong result in the third quarter and our commercial excellence and productivity playbook are supporting our bottom-line. As a result, we're narrowing our overall segment margin guidance towards the high-end, now expecting to end the year between 23.4% and 23.5%, flat to 10 basis points from 2023. That said, the dynamics we highlighted last quarter still hold. Delays in short cycle improvement are leading our long cycle project and original equipment businesses to a larger percentage of our mix, driving margin headwinds. In the long-term, this provides us an expanded installed base to leverage for high margin aftermarket projects. We now expect overall segment profit dollars to grow between 5% and 6% for the year. At a segment level, Building Automation an”