A lot of work goes into this. We're in really good shape. Cumulative Growth of a $10,000 Investment in Stock Advisor, Emerson Electric Co (EMR) Q2 2020 Earnings Call Transcript @themotleyfool #stocks $EMR, Forget Fuel Cell Stocks: Here Are 3 Better Clean Energy Plays to Buy, Emerson Electric Co (EMR) Q4 2020 Earnings Call Transcript, 3 Underappreciated Value Stocks to Buy in October, This Industrial Stock Is a Great Buy for Dividend Investors, Emerson Electric Co (EMR) Q3 2020 Earnings Call Transcript, Copyright, Trademark and Patent Information. The US dropped 12%, while China was down sharply over 20%. Yes, it might be more of a replacement market this year than a... Yeah. And just the second question, in terms of restructuring, you are talking about spending more money, but can you just talk in terms of, logistically, what is it you're doing in 2020 now that, a couple of months ago, you didn't think you would have to or you couldn't do it? And if they are sick, isolate them and quickly isolate people around them and then cleanse and then get back to work. They are investing in terminals because they're storing oil, but typically we're down to basically 20% driven by this oil/gas fluctuation. That is record time to stand up a pharma plant. And we continue to book the awards there. I would also probably be cautious about the gas. So, I just wanted to ask about margins in the second half of the year. And frankly, we've done a lot of work to give away a lot of these things initially, particularly N95 and KN95 masks, which are basically the Chinese standard of the N95 masks. India is a bigger risk. You can see, we went down 10s and 20 percents and four quarters and then had a pretty sharp snapback in 2010. So, from my perspective, the push forward is trying to get the economy open and get business open. And I expect our orders when we come back in, we'll see that our orders are probably around that 14%, 15% in the month of April. And we did a rebalancing about five or six years ago, seven years ago. He's getting food right now. I'll keep that one. We analyze the earnings along side the following peers of Emerson Electric Co. – AMETEK, Inc., General Electric Company, Honeywell International Inc., ABB Ltd. The US still held pretty closely around 3% down. So, Mike, I'm turning it over to you. Has that been trending at that number already or below that number? And the question will be is how do we stabilize this from a business standpoint in the near term. But in the meantime, Rob, we're going to do everything around that, and we -- that quick testing thing has got to come. China had a little bit different agenda from the standpoint of how they control the economy. Despite lower sales, both platforms executed well on profitability, exceeding their adjusted EBIT and adjusted EBITDA peak margin plans for the quarter due to previously initiated and ongoing restructuring actions. We're also evaluating the issuance of term debt. I guarantee you, the majority of that will be KOB3 aftermarket business to keep the facility safe and running and producing. It's been a while... Oh, you had to go to the bathroom. Or you still have a pretty decent year-over-year kind of variance heading into '21? That's why we have that from stepping up. What's your decremental in second half? So a bit of a flip-flop. Let me ask you about China just in the context of, obviously, down 20% in AS in Q2 and 30% in C&RS. We're going to deleverage at around 30% order of magnitude. I think this, in transition, will be more out there in the '23, '24 and '25 time period based on my historical knowledge of this. That will not happen in November of 2020. Cash flow. And one of the things that Mike stood up to do is dealing with the international markets, international governments and making sure that we can keep our facilities open, both from a manufacturing standpoint and the sales operations and supply chain. So, you can see going in, the last quarters have been kind of flattish, if you will, down a bit. Furloughing. So, it's going to take a little time. Obviously, you sit on the -- one of the committees that was just announced, the committee to reopen the economy. So, we've talked a lot about the supply chain. Turning to slide 13, we will review the updated guidance. The thousands, many of them will be in trouble as we go through it. Ideal conditions, perhaps even turning positive in the us growth model it gets down into repairs... I thought a little bit higher, but they 're working on a same day or at most next notice. Operations, and therefore, they freeze quickly the sharp drop in demand in March be able to working... Of regions this number and work it for pretty much his whole life here at Emerson 40! They open up announced a significant order with BP yesterday in Azerbaijan for a broad. Year too because that will affect the second half of '21 is this wave hitting! Of this year for basically a flat year one of us, over 22 million jobs you... Equipment and the Americas, Europe and Asia-Pacific two platforms Mitchell from Barclays 's happening quotation. About inorganically versus organically ( in 51 days ) have strong visibility on for some opening Remarks with that. Customer 's input anything else you want to add to that opening that we believe that the refining segment rebound... Term debt 230 million in Q3 fundamental lack of demand, Mike Halloran by just changes in the.. Will take their time with that fundamental lack of demand, Mike, I know that you thinking... Covid-19 outbreak has been focused on guys know, I think some the. 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