Guidance ConcernsEMR organic guidance is viewed as overly aggressive with management calling for a high single-digit organic exit rate, a sharp acceleration despite sluggish order trends and softening Process capex.
Order TrendsGuidance for a high single-digit fourth quarter exit rate screens for downside compared to past performance and unchanged low single-digit order trends.
Tariff ImpactTariffs are a $245mn headwind to FY25, or 2.5% of revenue on an annualized basis.