“the team is positioned to expand margins in 2026 as well. So we have good visibility to margin expansion in IA going to 2026.”

In context

“ject delays in the longer cycle business? And trying to understand on margins, I think there was a comment on similar margin in Q4. So does that mean it's a 19%-ish margin? And are there any onetime kind of headwinds on that as we're thinking about next year? Mike Stepniak: Yes. So I would say from IA standpoint, the orders are looking -- I would say, they were looking strong in 3Q. But as you know, we have a lot of timing variability as far as the larger orders, especially in our warehouse automation business. So we're monitoring that. But generally, I would say, vis-a-vis where we started the year, we feel much better about the business and the progression. So from a margin standpoint, margins should grow sequentially in the fourth quarter for IA. There aren't really any one-timers, and the team is positioned to expand margins in 2026 as well. So we have good visibility to margin expansion in IA going to 2026. Backlog is improving. that's giving us, I would say, good leverage from a fixed cost standpoint, and we have good visibility to pricing. Julian Mitchell: That's helpful. And then just my quick follow-up on the Aerospace division. Maybe give us some update on where we stand on that destocking? Do you think it's largely behind you now on the commercial aero side? And should we assume that, that 26% margin rate, again, that's a good placeholder into next year, barring violent swings in mix? Mike Stepniak: Sure. So super happy with how the Aero team performed in the third quarter, and I think you will see more good news from Aero team as we go to fourth quarter and next year. I would say, from a margin standpoint, 2Q '25 was probably the bottom, and you should continue to see sequential impro”