“I don't see any, I would say, large impression right now incremental to everything that we saw in the first quarter. Second quarter to me looks benign in terms of any new information.”

In context

“been happening end of the year. Our confidence that stranded cost will be eliminated between 18 to 24 months time is very high. Post spin. So working on that front, and we will make sure that we execute on the same. Joe Ritchie: Okay. Thank you. Operator: Thank you. Our next question comes from the line of Chris Snyder with Morgan Stanley. Please proceed with your question. Chris Snyder: Thank you. Maybe for my first one, just on Q2 margins, you know, guided flat quarter on quarter despite, you know, volumes going higher and the PPE divestiture, which should have some level of margin tailwinds. I guess, is kind of saying that there's some margin pressure in Q2 on the tariff and then as we go into the back half, we'll get neutral per some of the earlier comments. Thank you. Mike Stepniak: I don't see any, I would say, large impression right now incremental to everything that we saw in the first quarter. Second quarter to me looks benign in terms of any new information. It feels more like the first quarter. And, you know, the $2.60, $2.70 that we guided, we feel it's appropriate given everything that's going on and our mix holds, our price is holding. So I don't see any structural issues. Only item model-wise. Rate. Vimal Kapur: One item I'll add to Mike's point is, I think quarter to quarter, if you really want to look at quarter to quarter differences, ESS margins, per substantially up in Q1. That won't be the case in Q2. It's just the mix of shipments of catalyst shipment by product by product. Some are high margin. Some are moderate margin. So depending on Q2 has a different shipment levels, or shipment mix compared to Q1, but that doesn't concern us at all. I think it's just a very normal course of this event. And overall, the guidance, what we did”