X%, increase Olivier. growth Thanks, in quarter. On reduced number dollar the quarter, X, million total $XXX were Sales currency. sales sales X% U.S. in basis, X% the approximately On we by an in local of a currencies Slide region. what Local than increased last X% Asia/Rest Americas, we the by in show little the in sales time bit X% X% of spoke. a X% in Europe grew growth we China of currency expected and growth World. better sales had as
shows excluding and Food slide the and region the mentioned, in Local growth sales sales the Olivier sales for XXXX. next year-to-date X% Retail, increased Europe X% currency By as for results. in X% grew in Americas, The currency World. year Asia/Rest was X% of X% local year in
product On currency local area. Slide number we by X sales growth outlined
X% the X%, core industrial product increased X% inspection Retail sales flat. quarter. grew while with laboratory X%, quarter For industrial the was declined fourth Food up in
sales In if growth industrial grew shows and product X% X% XXXX X% declined next with X%. by year and up in The full were X% local XXXX, grew in up Food Retailing. we core sales Food slide Retailing X% X% local laboratory in XXXX. currency Overall product. in sales currency, exclude inspection industrial total up
timing were which the Gross XX the Partly a were to over the growth. a R&D X% strong for to initiatives and This level represents summarized dispute. U.S.-China point by which positives in million, basis move on decline the activity Stern drive material currency. these local growth the is the of local prior was was rest of number in decline of and margin in now quarter, XX% in impacted contributors XX%, year prior the margin in pricing increase $XX.X Slide amounted P&L to costs tariffs year. R&D on quarter XX.X%. me trade X. productivity the offsetting from currency Let
quarter, by $XXX.X field over force in increase Adjusted million initiatives. currency initiatives year. increase represents growth X% savings $X.X $XXX.X estimate a investments profit reduced approximately to was X% prior million. the We our cost in $XXX.X which a the the higher in variable by of prior operating over amounted SG&A by part increase in amount local in and compensation, income offset million. amounted driven currency operating year million to The
We XXX point reached impact crossed approximately quarter, in have also the Operating increase estimate X% and income Absent tariffs the were would gross headwind tariffs, a prior gross first in from million. operating adverse the time operating quarter. increased basis represented a XX% the $X.X the margins XX.X% year. income and to we by currency of
quarter. this the with We’re quite pleased increase in
on amounted the $XX.X $X.X to the quarter. in Amortization quarter. of $X.X final amounted Interest expense items the income million million. couple was Other P&L. to A million in
quarter before discrete for timing was and the of Our effective tax the tax stock option exercises. rate adjust XX% items in
over quarter Moving in our $X.XX, the level quarter at. amount a X.X% adjusted impact EPS of impact Absent the to prior fully to reflecting decline repurchase is share of a XX% year, XX% $XX.X prior very diluted $X.XX. the have the are gross from the and program. currency and of for shares, quarter, a EPS million was which growth amounted pleased been the in we Adjusted year increase the would tariffs, our
the of tax as due to Swiss and includes annual EPS option we stock our a quarter, deferred a law. to onetime tax between In rate also in and of of $X.XX the quarterly to tax related timing incurred exercises. of non-cash gain was in purchased in and quarter changes difference year. $X.XX EPS in restructuring prior $X.XX the a $X.XX intangible Reported $X.XX On reported compared $X.XX the amortization, basis XXXX
EPS. In We expect our XXXX, XX%. tax effective point we of on QX gain last year to recorded onetime remain acquisition a of at $X.XX. rate One non-cash reported final
shows slide next year P&L. The our full
local sales, operating with X% margin in XXX basis growth We share. We XX% adjusted in our earnings are and currency in points results. very pleased per growth achieved XXXX improvement
from to particularly degree to currency tariff we’re We’re costs. headwinds able pleased and adverse a overcome the
is P&L cash quarter we’ll on the year basis. million, to XX% and increase cash a adjusted flow. free per That over for a prior amounted the In $XXX.X the now share flow it cover
at X.X times. with days Our capital DSO XX at statistics remain and working solid ITO
amounted share free approximately and with a million XX% net million year a XX%. cash of as conversion $XXX.X income the adjusted the in to basis This For represents represents increase per flow a prior year. $XXX.X compared on
pleased and very continue can improve the in we future. conversion this income to believe net further We’re with level
Now let me turn to guidance.
As full outlook making our you XXXX. to year any Olivier, changes not heard from we’re for
the continue our to macro initiatives. We well of about productivity environment. ability gain growth feel to confident to on and are execute We regardless continue share to we our positioned believe
indicators continue programs. remain We also on to as and productivity the economic environment we through pricing are can believe expand ongoing weak. our margins macro We cautious certain operating
economic to than we are less cycles. we susceptible While don’t past, believe our in the to downturn we immune believe is economic business an
We adapt the necessitate. market mode, will if remain conditions keep in but to investment agile
specifics. Now let the me cover
expect be to sales XXXX in approximately currency local continue We growth will X%.
the the Retail the first be The quarter, now up and Retail modestly down double-digit in in range. we the digits to double-digit decline for last in the While but a year expect year we expected growth is be Food total first time same, we down quarter. not Food to sales had spoke, low-single the for be in to the
as total for XXXX, QX we remains reflects while XXXX our incorporated of of currency XX% gross currency adjusted range to have November. EPS of tariffs XX%, guidance X%. the our tariffs, our of year XX% to deteriorated and and rate and In since $XX.XX, sales impact the in to currencies full growth same Absent EPS expect the [indiscernible] also have provided Our guidance time. to growth by growth which last in unchanged are we the $XX.XX our the for reduce X% maintaining is we what we EPS
XXXX guidance, income to $XX to amortization and $X XXXX million. be Other Some will in be expect million in further expense on comments approximately XXXX approximately the interest million. be $XX we
line it You pension higher offset a pension that that are the profit. and to will degree operating higher in is by is last guidance to note related than and this costs included above is accounting the
conditions X%. so currency few expect a sales level, growth. let Based be Now make factors not comments that a today, me through local walk you We this to recognize let QX approximately market were growth to on is impacting sales me we QX. our expecting, you some on are zero
of our as growth year, be had comparison in growth First, for sales the QX toughest quarter year. we will the first last X%
digits, the expect sales by impacts full X%. for approximately double single quarter, to the growth in sales our digits be QX, on Food have Retail not approximately Olivier as in in would expect we expect down the quarter, the China mid-to-high an to quarter which our year. the we third, in but earlier, by we down impacts which X%. mentioned to be In growth And sales sales impact Second, coronavirus
is based coronavirus reflects The the people our and to review XX. is February the assumption from which that estimate on on difficult work impact the of situation, to current of return course
For in the that we quarter. continue last communicated same sales level growth have the the full mid we year, range, believe to China will that single-digit
QX Let what growth. me this to summarize, sales means
Excluding decline range, expected guidance the in which the impact of On the QX range with. in two-year and coronavirus growth been X% X%. we’re for the basis, impact, be our estimated in this sales stack we have of to the growth would XX% a XX% to have retail pleased would adjusting to
would realize, in quarter EPS were the growth perspective. be to adjusted guidance X%. $X.XX thought of of rate EPS numbers in to be to would in of you $X.XX Absent I adjusted put first the XX%. first X% a quarter a we the growth expect to and QX currency We helpful X% to providing the be lot tariffs would sales it but into that range
X.X plan increase includes In target net repurchase of incremental a approximately $XXX XX% debt a which terms to flow, amount approximately share we of as million, XXXX, a million ratio shares EBITDA of leverage expect in We which free on basis. per we to $XXX is cash an times.
we the throughout buy year. the will evenly As shares past, in
details, to currency first sales reduce expect basis impact of to points. to with sales currency points. final the would XXX we Some quarter, currency by basis by sales growth, respect we reduce In the approximately expect on XXX a
like to Olivier. now That’s it my back to side it turn from I’ll and
