“From a catalyst standpoint, based on how customers order and ordering pattern, we see that improving next year as well, but don't see that volume in the fourth quarter.”

In context

“I emphasize just the timing is more of a factor than anything else. Nigel Coe: Okay. That's actually my follow-up question. Number one, did we see these pressures in 3Q and this government service -- the government settlements maybe offset that? Just wonder if you can maybe quantify that. And then do you think that this -- we see that mix shift in the back in the first half of next year? Or do you have that visibility at this point? Mike Stepniak: So like I said, I think from the order activity standpoint, the order activity on big new projects is quite strong, and we'll continue to see that in the fourth quarter. From a revenue conversion standpoint, given these are big capital projects, they start converting to revenue probably in the second and second quarter and then the second half. From a catalyst standpoint, based on how customers order and ordering pattern, we see that improving next year as well, but don't see that volume in the fourth quarter. And like Sean said, we usually see fourth quarter seasonality in the business, and we didn't see it this year because a lot of that volume came to us in the second quarter. So there will be a little bit of a gap in the fourth quarter as far as ESS margins. Vimal Kapur: But all things said, Nigel, we expect ESS margin to expand in 2026. It's a transitionary thing. At the end of the day, we are positioning the business for growth. The LNG segment is doing extremely well. Sundyne is doing extremely well. The overall projects, as Mike mentioned, is performing at an order rate of 8% growth in Q3. We expect solid Q4. So it's just really a transitionary effect on the catalyst volume. And we think that will adjust in 2026 and we should have a more year more on expected lines, we're expanding our”