“We expect the environment to improve over the next couple of years, and during that time, we'll deliver very strong earnings growth.”

In context

“enable their success as they adapt to the environment. Second, we're actively managing the company. You see that in our results and the 2025 financial outlook. Strong cost management was a focus at the beginning of the year, embedded in our original guidance, and we've meaningfully stepped up the action as the year has progressed, adding an additional $300 million of cost reduction since the initial guide. And we will continue that intense focus in 2026 and 2027. This will result in us delivering strong adjusted operating income growth of mid- to high single digits. And when you factor in our disciplined capital deployment strategy, we have the opportunity to further compound our returns. The final point I want to make is that the long-term drivers of the industry remain very compelling. We expect the environment to improve over the next couple of years, and during that time, we'll deliver very strong earnings growth. When I look to the future, once this near-term scenario plays out, we expect to deliver 7% plus organic revenue growth. So to summarize our key takeaways from the quarter, we delivered excellent operational performance driven by our proven growth strategy and PPI Business System, beating our guidance and raising our outlook for 2025. Our trusted partner status and proven ability to enable our customer success is a significant competitive advantage. We're actively managing the company in this environment. We're gaining share and driving greater productivity and cost reduction, and I remain incredibly confident in the near- and long-term outlook for the company. With that, I'll now hand the call over to our CFO, Stephen Williamson. Stephen? Stephen Williamson: Thanks, Marc, and good morning”