“We do expect all four businesses to grow and we expect margin expansion broadly across the portfolio with Aero probably being the one that's going to remain, I would say, you know, around its current levels organically with -- that's the one area where it will get headline pressure from the acquisitions, though all those acquisitions and particularly in the Aero, you know, and sensors are going to be very strong growth rates, so very healthy segment profit growth overall.”

In context

“ve. Steve Tusa: Yes. So sorry, just missed the first part of the call. Can you just talk about any kind of trajectory on into kind of '25 and some of the puts and takes? I know you guys had talked to being within the range on organic a few weeks ago, but also just whether the margins can be a kind of a trend-line year, any updated thoughts on kind of the '25 outlook? Greg Lewis: Sure, Steve. Maybe I'll start. You know, as we talked about even when we saw each other in Europe, we still expect all four businesses are going to grow next year, and we're going to be coming out of the year with while a lower exit-rate than we had planned, it's still going to be a positive exit rate. And so, when we think about the setup for next year, again, way too early for guidance, we'll do that in January. We do expect all four businesses to grow and we expect margin expansion broadly across the portfolio with Aero probably being the one that's going to remain, I would say, you know, around its current levels organically with -- that's the one area where it will get headline pressure from the acquisitions, though all those acquisitions and particularly in the Aero, you know, and sensors are going to be very strong growth rates, so very healthy segment profit growth overall. Steve Tusa: Okay, great. And then just on the free cash flow cut. What's the -- is that just an earnings cut or is there something else going on in working capital and like that? Greg Lewis: Yes. The two big items there is, as you know, the biggest pile of inventory we have is in Aerospace, and that's been the hardest nut for us to crack so far and particularly given all the dynamics that you're seeing in the industry over even the last 90-days, we just don't see the ramp down that we had been trying to drive there specifically. We've made nice progress in both IA and BA on inventory reduction, but not in Aero. And then the other part of that, I would just say is in our high-growth regions, we're seeing payment cycles slow. And I think, again, that's a little bit of a reaction to oil pric”