“I do remain confident that our model of getting our margin expansion through pricing while we're protecting our volume is really working... we're going to see strong impact in our margin expansion into 2026.”

In context

“cing opportunity in the future that is not being exploited today, either because of the R&D investments you're making or maybe just a more surgical focus on that post the spin-off of the businesses. Vimal Kapur: So thanks, Amit. I would say that fundamentally, our strategy has been that we want to preserve our margins. while we keep our volumes to our expectations. So that has been the North Star we have been focusing on, and we have demonstrated that for the most part. I would say that if I look ahead in 2026, pricing will become a good enabler for 2026 margin expansion. The only headwind we faced in pricing, I'll call out in 2025 was just a lag effect. It's just the timing. We're learning something and we can lag 30 days, 45 days. We are not going to face that event in 2026. So overall, I do remain confident that our model of getting our margin expansion through pricing while we're protecting our volume is really working. And some of the margin expansion we have seen in this year, the margins have been more flattish. It's primarily our focus has been growth. And there are some transitionary issue items which have happened at this point, whether it is tariff-related cost hitting us in some pockets and M&A impact, et cetera. I'm very confident those are transitionary. And we're going to see strong impact in our margin expansion into 2026. Mike, anything to add? Mike Stepniak: That's exactly right. I mean we've been now with the teams focusing on 2026 pricing for about 1.5 months. We have a really good plan and strategy laid out across our segments and regionally. And based on everything I see, pricing will become stronger next year. And a lot of that is really driven just by tariffs stabilizing and that picture on inflation being much more clear. So the teams know what they ne”