In the near term, we expect year-over-year margin expansion for the fourth quarter and the full year as a result of operating leverage and increasing contributions from our expense management initiatives.

Oct 26, 2023 / CEO / receipt, needs a key / Carl Hess, CEO | earnings call 2023-10-26 | transcript fa6ff3dc-50e8-4e2b-a4eb-327438117a2e | chars 2869-3073 | segment 2

We believe that our transformation program and disciplined expense management combined with consistent and sustainable growth opportunities will support near-term and long-term margin expansion.

Oct 26, 2023 / CEO / receipt, needs a key / Carl Hess, CEO | earnings call 2023-10-26 | transcript fa6ff3dc-50e8-4e2b-a4eb-327438117a2e | chars 8062-8256 | segment 8

We are beginning to see our expense management actions deliver results, including coordinated efforts on reducing spend for internal travel and vendor spend.

Oct 26, 2023 / CEO / receipt, needs a key / Carl Hess, CEO | earnings call 2023-10-26 | transcript fa6ff3dc-50e8-4e2b-a4eb-327438117a2e | chars 15192-15349 | segment 15