I quarter will of morning, refer also will cover second to of results earnings deck you, details today. I Thank David, of slide and everyone. as good comments. you prepared XXXX my the part with financial the our
to our quarter sales. on upcoming and second over by the walk the X, product assembly go HD sales year-over-year as slide shutdown basis, X volumes X% a impacted of to a planned $XXX shows of billion. new XXXX launch. get to – million, second down FCA a quarter, quarter on its walk prepares XXXX down with ahead for Sales let's due record sales. $X.X the second second In plant Ram of a were sales started the or lower Slide by of quarter the So, increased
However, higher that and of we Jeep for Cherokee begin our production systems and more XXXX. revenues than to quarter all-wheel second production in impact the features offset including volume realization factors, the driveline our backlog EcoTrac and drive of mix our systems electric that other that
sales has peers market impacted added couple of These basis. for been As quarters, last FX our our over many $XX have year-over-year a pass-throughs well the customer items in in a revenue results, the million theme and quarter. related on of as as price and increases consistent of metal
strong customer activity this quarter. the downtime also very on for of largest growth AAM, was another all, some one All showing our experienced We in normal our despite down sales organic quarter for price truck programs. solid
second the on of XX.X% Adjusted XXXX sales $XXX.X or XXXX metrics. continued from XX.X% was quarterly This a of was to strong of million second or $XXX.X million million move EBITDA profitability. deliver in of compares in at sales. let's profit $XXX.X to Now, quarter the operating the quarter XXXX. Gross profit AAM to quarter or sales. of record second XX.X%
down grew can adjusted backlog see slide of on and as million You mix business $XX a our EBITDA X. and year-over-year new EBITDA result walk volume of factors. other a
to synergies launch project activities expenses is these of $XX and the us due continued right continue XXXX but in $XX exciting integration were year the they This to year-over-year in On to our We scope time the synergy MPG XXXX. planned project-related higher the a as in track on basis, quarter a approximately the quarter experience for incur the compared to quarter to second XXXX. magnified second of see cost launches in this to compared targets continue synergy also year-over-year every acquisition. these AAM, second million year, quarter We our related of and achieve keeps size of XXXX. performance million our to for XXXX benefit are program by costs period programs. reduction new the we very expenses our improved benefit
down project come to moderate expect levels. launch As the half of back the second activity in have as we discussed, begins to normalized year we previously our expense to
We are experiencing also higher year-over-year basis. a costs freight on logistic and
items as year-over-year metal to we basis productivity same a these of of for have initiatives, $X of indices market the the mitigate our $XX increasing lastly, though, only related realized for and it saw EBITDA a items. And to some The we million net able on been quarter. net costs was and a million result metal period impact, FX these through market on we've as increase dollars increase. our sales FX, relates While
on more in math, basis the a XX a seen have As the same when approximately our when guidance they XXXX have discuss in factors moment. of these profit cash have but did little period flow margin two this recent the not points or significant to in did impact discuss we we dilutive quarters, dollars, to a impact XXXX. a full-year second comparing We'll on operating quarter our
costs, second activities to we incurred business cost. asset $XX.X a related quarter acquisition As facilities charges of restructuring rationalization as Metal Of Powertrain acquisition $XX.X in in and related and to restructuring non-cash million million we we it are recorded relates units. related result at capacity XXXX, and performing impairment our the Forming of of that,
drive the when reduction today we a cost future synergy course, to cost guidance up we and part Of million. activities are contemplated of will increased these initiatives our target $XXX savings
been business gain the the reported as as adjusted well of completed also for from on sale adjusted aftermarket We have $XX.X million, was a costs, in excluded our which sale, and gain April the EBITDA XXXX. of Powertrain business EPS. These on
of was including expense. SG&A compares sales $XX $XXX.X to in compared $XX million was at R&D of quarter of million $XX Let's XXXX. million or This in XXXX the quarter sales. spending second of take the R&D for second X% XXXX. second in quarter the quarter million look second XXXX the of of a X% or SG&A to
We our attainment. to related synergy to see SG&A in costs continue our benefits
We sales XXXX. of X% around year expect for full SG&A the cost be of to
a acquisition gain Now, as reached we a the related second on cover capital $XX.X capital to income XXXX. of as of that other lease on in recorded biggest of to and, a of interest. gain discuss the quarter, settlement of million lease let recognized result and liability quarter In a is relates books. MPG the income The as we a other to me second item the our the settlement a result, that reduction agreement the obligation on have it
result in gain AAM, EBITDA excluded from While to over rate been XX the structure interest $XX quarter primarily our of quarter expense adjusted of second a of interest of quarter our our the compared as the The $XX this pay-downs Net was months. interest gross an maintained debt of for approximately second end AAM fixed EPS. is quarter, this adjusted million second was expense development decrease for is At XXXX the XXXX million the a and rate in positive last has XXXX. second X.X%. interest average in weighted and the XX%
the has discrete for compared of the a adjusting approximately primarily item, foreign EPS we impact is when calculation. income tax the well to uncertain items taxes. is on in the rate at tax XXXX $X income of income effective the for positions provided towards for our of XX%. $X.X beginning end quarter XX%, lower tax as special jurisdiction. million Income of special second tracking have to Adjusting million of result the XX.X%. effective The million expense would reduction tax quarter other Now, the tax we range XX% tax items, of to approximately tax rate $XX was the excluded our XXXX. second-quarter from for as adjusted in second low been as gain this Year-to-date, liability in the been our quarter an year of of our for agreement a finalized This in expense
was per which per of gain remainder tax excludes share in share share We impact $XX.X for and compared quarter second to $X.XX this quarter and these sale the debt continue the in the XXXX and of business cost to acquisition-related second Adjusted net refinancing share sales second items, earnings second or per drivers quarter million of including XXXX. of XXXX $X.XX income expect $X.XX the in range share, XXXX. into was per of account, of or in nonrecurring per and $XXX.X to the Taking in XXXX. redemption restructuring to $X.XX million compared GAAP quarter remain on of the the costs, costs, effect, all
payable million. XXXX million balances the adjusted settlements equipment. cash impact from free plant flow and entities. free was and payable cash the and on flow by and second free of acquisition-related of and the accounts flow the less an and net property, of with restructuring activities equipment, expenditures, generated $XXX.X quarter operating be move define sale preexisting Capital defines Cash were net activities balance spending, to restructuring received cash $XX.X operating expense for for acquisition-related of property, now XXXX. XXXX for plant cash second acquisition payments flow payments was the proceeds for of Net of be in provided from interest the in second $XXX.X Let's We the to sheet. excluding sale of million. capital by net costs of quarter to AAM cash cash of cash proceeds costs, quarter
be million in to of AAM's Reflecting $XX We the XXXX. free continue these full $XXX.X cash the expect adjusted these million. payments XXXX year $XX and of quarter second between to was million for activities, flow
EBITDA, are to relates liquidity make strong on net expected X.X leverage our times the over continued a we end gross second billion, as seasonal and midyear We ended EBITDA driven cash adjusted of working debt continue progress ratio, end for net and we at where while the we $X.X net the free track to the great generation AAM's capital of track see a and deleveraging our From leverage it be quarter quarter. right of at and year the June very on generation targets and with flow for strong by benefits. half or right remain business. Liquidity debt-to-LTM of perspective, to second a ample maintaining was
so clear release, Q&A, about guidance of David our to guidance that communicated key I details me that updated let a do reiterate few in will was XXXX a not that over will updated again, we I included be points. today. few earnings it but the the out turn covered we Before points about
higher content customer by directed targets our metal on basically essentially First, a sales and on based additional recoveries larger-than-anticipated Net-net, these that are we basis. market neutral have throughs. pass updated sales profit-dollar are dollars
calculate has higher certain manner positive utilize margin our EBITDA from math. a cost you to margin math related financial margin, dilutive when to ability in target it Once land, demonstrates for very So, adjusted elements manage on this AAM's clearly the volatility move a you results. sales impact on and
record your continue delivering continuing today compared the cash in better-than-expected to and this flow, financial initial to company forward launch new our targets targets back set the you look can participation to I'm XXXX over performance January our of start We represent updated to the performance and with year. programs, we for to call results your to for Our on back generating and call. align Thank time goals. that us achieving going Jason turn Q&A. for so
