“You know, we expect to outperform in the back half of the year, but the market is getting weaker because of memory.”

In context

“mance. We obviously have good earnings. And the cash conversion cycle continues to do better on the back of lesser inventory. Our inventories improved by 7 days year over year, So just fundamental good operational performance that is driving the free cash flow. Great. William Brown: And you did not call it out exactly, but can you reference any of the impact on memory chip pricing, availability? And how is that rippling through your consumer electronics business? Well, the consumer electronics was down low single digits in the quarter. And we do expect the market in the back half of the year to be down. I think it was like high-teens. So and I think that is largely related to, you know, memory shortages, high cost macro, again, down low single digits versus where the market happens to be. You know, we expect to outperform in the back half of the year, but the market is getting weaker because of memory. Great. Thank you. You bet. Thank you. Operator: Our next question comes from Brett Linzey with Mizuho. Please proceed with your question. Brett Linzey: Good morning all. Good morning. My question is on utilization and footprint rationalization. So there is a bit of a tug of war here, You have got the secular and cyclical accelerating, but some other areas a little bit more cautious. what is your current capacity utilization across the footprint And as you look at some of the organic growth potentially accelerating here in the back half. How are you balancing rationalization versus expansion? Are you thinking there is further actions as we look into 2026 and 2027 or you revisiting some of the plans currently given the improvements? William Brown: So look, the way we measure utilizations ac”