good and morning, Steve, you, Thank everyone.
losses regulation nonrecurrence allows product XX% Fourth was a basis improved points payments exclude losses of $X.XX Fourth to in rate. X the comments the outlined will finalized net which the which presentation benefit sales subsidiaries. of and segments, operational $XX.X nonrecurring Utility tax by more Access higher the XXXX, or results accounting references adjusted $X.XX of for appendix. excludes the also driven Please of share release rate my the X.X% year, quarter operating or that quarter discontinued earnings adoption and of and year, in Irrigation per efficiency last and inventory, $X Fourth XXXX. tax year's favorable last farm quarter nonrecurrence in XX% U.S. This fiscal of income tax million tax at volumes an of compared Business of in diluted earnings, compared Access XXX the in Systems purposes, the method to higher by driven and income to all and to grew in focus LIFO results, or beginning as by line. the System a in earnings last on grew quarter favorable in fourth on was for note XX.X% treatment of the comparison more per adjusted press Turning for Reg the million Slide per basis. from our G share operating XXXX disclosure share
of or to XX.X% On segments. income decreased year. Slide to points Turning in the million basis Utility Structures, of $XX last Support operating sales XX, compared XXX
and other by higher improved higher impacted drove of quality profits, mix was offshore structures. steel of volumes strong and While performance earnings complex operational
Moving we of we to very of Overall, pleased basis year. income the pricing enhance increased to market million lower operational Slide strategies helped X.X% international which XXX markets improved India. sales COVID-XX and operating in mainly results offset demand, from Engineered Support took volumes $XX.X as points or in with over Structures, and were impacted performance, actions the France last XX. In
segment, In excellence $XX.X was XX. offset of income of to Australia standard primarily similar operating and Slide New to North and and in lower work, year. continued volumes on million XX.X% markets. last Turning sales focus in volumes, or external operational American a the Higher Zealand, Coatings
million markets R&D basis operational operating or XX. improved strategic offset segment, Slide last was across efficiency all of higher by Moving Irrigation $XX.X of technology XXX higher investments. to points were the XX.X% volumes for year. income partially Strong compared expense sales and to In global growth
to flow cash on XX. Turning Slide
management of of approximately payment Our $XXX.X $XX strong working contribution. U.K. deliver annual solid million operating performance required us last on over for an year, an million this capital pension early XXXX plan helped year's rigorous improvement cash despite focus flow and the
summary of year Capital opportunities in spending includes and expansion include line market million, on shown and approximately of full end existing new The historical start-up investments investments with capital, growth which demand, levels. is million our strategic maintenance investment of first online Turning come North operations factory XXXX, technology American Pittsburgh Slide Growth million the strong to deployment. was infrastructure in to approximately $XXX expected capital quarter $XX $XX for to and of our XXXX XX. in a coatings at facility in products. meet
mentioned share approximately approximately in in resumed dividends capital million year repurchases cash. repurchase the returning As quarter, of last million through we with $XX.X our XXXX, and ending to of $XXX share September, shareholders program
align markets acquisition our and to continue in are on prioritizing capital ESG an business investments principles with strategic growth while and pipeline meeting investment return and goals. higher We have that products solutions active
sheet to now for XX highlights. Slide Moving balance
Our balance with strong, significant long-term no debt until XXXX. sheet remains maturities
remains debt ratio net X.Xx X.Xx of debt Our adjusted our is of to to and to within range EBITDA at leverage X.Xx Xx. our of adjusted desired EBITDA total
me update Slide full XX assumptions key and Let to for and XXXX now outlook, first financial turn for our metrics including quarter an to year.
we estimate between of million $XXX be net and net $XXX operating between quarter, to to million first X% margins sales. income sales the XX% For and
the estimated to which metrics XX% For and of translation the are a foreign full Other year, year-over-year, share benefit per net increase and currency this be slide the sales. activities. outlook key in to restructuring of between Earnings X% X% $X supporting estimated assumes excluding on release. any summarized is $X.XX, net and press to assumptions sales are
have With first we briefly higher taken on our quick, to we deliberate costs, freight have raw let the segments, the increases we and across unprecedented of operating for segments. our steps Before XXXX to are cost move material XXXX. cases, pricing to implement me some all since increases margins half and beginning comment of multiple served these markets. implement In strategies maintaining the across
Support Utility visibility. Turning is segment Slide XX. to In good on our Structures, outlook providing strong our global backlog
escalating that margin points prices have so X compared rapidly inflation material unfavorable basis we actions rapid XXX of when we mentioned, adjusting A this take in comparisons response As been historically expect half costs. to recover, quarters year first X to to segment to in pricing reminder in raw of the to aggressively approximately due the XXXX. gross
contribution However, profit in be steel we do to for gross favorable are year-over-year higher reflected year indices prices. cost the expect full as selling
Support Moving to Structures. Engineered
COVID, with We entered anticipate of global We have transportation state the local approving million. delays with Act a have solid softness markets in Fast along been year some backlog short-term tax as $XXX impacted by in and the revenues extension.
year. accelerate strong carrier's throughout for and with components demand and grow XG XX% to to this wireless XXXX, communication products expected remains in expect We sales anticipate investment approximately
levels, to modest to expect market to demand the and production growth Moving end sequential we economy as industrial correlate continues closely see to to improve. Coatings, tends
to Moving Irrigation.
our providing to projects, additional XX% driving in the sentiment Full net of segment on increase year-over-year. on sales to and expected are robust XX% expected income timing this estimated farm sales are of strong year Brazilian growth substantially large details market. We positive a deliveries based Egypt farmer's
footprint backlog. by manage as of also We financial solid management previously these can short-term have raw flows, capital operating on ongoing emphasis we on material cash cover inflation impacts, impacts a another mentioned, to flows, working cash and continued some to Raw enacted driven create material expect including strategies hedges and quarter initiatives.
System turn ongoing to product the We which and in not strategic Australia have XXXX and million a decided review, divest path Finally, we for this $XX generated Access Asia do as sales part line, serves and the of Pacific product our of markets. see portfolio exposure business further reduce fit I will future back gas mining Further will updates that, With markets. Steve. will to oil over in and our expansion, our quarters. call provided of global the be now strategy end long-term it to and to
