Management highlighted growing commercial space demand and strong early response for UGR-Es (MREs—meals ready-to-eat for groups) during meetings at last week's Sidoti Virtual Investor Conference. Increasing commercial space launches are partially offsetting the decline in the alternative fuels business this year, which we owe to ongoing Class 8 truck weakness. Commercial space represents a strong growth market for LXFR, in our view. Space Foundation forecasts the global space economy expanding from more than $600 billion last year to more than $1 trillion by 2032. We continue to hold a long-term positive view of the potential for Cummins Inc.'s (NYSE: CMI, NMC) new CNG (compressed natural gas) engines in heavy duty trucks but expect the market to remain light into 2026. Increasing flare and MRE sales are driving growth in Elektron at improving margins. We model EPS growth in 2026 to $1.18 supported by margin improvement, in part due to cost savings related to gas cylinder facility consolidation. Management indicated increasing capex will fund production efficiency and margin enhancing improvements at facilities. We also expect increasing traction for Luxfer's new bulk gas transportation module facility in the U.K. The balance sheet remains strong, with net leverage under 1x at the end of 2Q:25 compared to nearly 2x at the end of the year-earlier quarter. We expect cash flow in the near term will fund further debt reduction.