“As a result of these mix dynamics and a more challenging prior year comparison, we expect fourth quarter sales to be down low single digits.”

In context

“an offset by transitory integration headwinds from the CAES acquisition and cost inflation from tariff pressures temporarily outpacing pricing. In 2026, as pricing aligns with tariff costs, OE shipments of electronic solutions recouple with build rates and integration costs from the CAES acquisition subside, Aerospace margins are well positioned to increase from 2025 levels. For Industrial Automation, third quarter outperformance is compelling us to raise our full year top line expectations for a second consecutive quarter from down low to mid-single digits to down only low single digits. Positive order growth in the third quarter was encouraging, though it was uneven within both long- and short-cycle businesses, such that it would not yet be prudent to confirm a sustainable upward trend. As a result of these mix dynamics and a more challenging prior year comparison, we expect fourth quarter sales to be down low single digits. Continued momentum in smart energy and steady performance in Sensing and warehouse automation should offset modest demand headwinds in productivity solutions and services and short-term project pushouts in core process solutions. We now expect to see margin contraction in Industrial Automation for the full year on increasingly unfavorable mix with similar margin performance in the fourth quarter. In Building Automation, we continue to anticipate full year organic sales growth in the mid-single-digit to high single-digit range, supported by strength in the U.S., Middle East and India and highlighted by robust demand in data centers, health care and hospitality. For the fourth quarter, we expect sales to be up mid-single digits with momentum from strong orders across both products and solut”