and Korey everyone. morning good Thanks,
noted from have last And first the in us puts quarter. towards it full-year quarter a track was our earnings significant did start release, will guidance. of the very year It you As first demonstrated quarter which which solid our we QX with improvement a our was year. firmly on
lot drivers of at look the this get of a help from improved did macro a you If we performance, not environment.
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did our further we full-year do. what first in we would confidence you we strengthens This short, told our In quarter guidance.
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segment share early a will gain expect market builder with progresses. the as the stronger throughout top U.S. to markets, see of revenue continue Our U.S. year housing the we year. in Coupled particular improved an line in signs
performance also a Beyond on is we fully our this portfolio give track. morning, you financial transformation, short our will and operational on update QX which
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to I details turning Now basis our XXX margin Slide points on more will of sequential share X, expansion.
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and during our takeout let cost remind earnings you net you last first both at what told Looking we raw materials, me call.
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takeout to improvements. margin and expect we progresses, be key year net the of do cost driver materials raw As
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Finally, QX X.X%. EBIT delivering points year-over-year foreign currency ultimately a XX basis from of negative margin impact ongoing of we had
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parts strategic de-risk chain. expanded part to significantly of have this our critical prioritized components high dual our sourcing and We and of value supply components
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yet a product XXXX, versus fully our to even has overall result, not though levels. pre-pandemic improved availability As significantly
X, to Slide an update provide our on cost we Turning takeouts.
to I want in context. put First, this
we $XXX to $XXX $XXX Our cost inflation X of actions. of into its incremental million to reduce of of an and internal XXXX. business aiming saw million with levels benefits cost inflation unprecedented billion billion material of X year, top million $XXX material base On cost by inflation were raw in Coming in our million XXXX. were to takeout this million $XXX raw
we're specifically, lower these at track. cost us material More on trends the put end of short, range. this In would
track. of actions million While $XXX net approximately are on our internal cost takeout largely
inefficiency and supply We chain premium continue costs. to reduce
in additional to an reduction point proactive aggregate salaried global reduction bringing X%. our workforce approximately Our our quarter, management the X headcount in delivered
we're and benefits Additionally, from other seeing reduced indirect spending costs. discretionary
track at expected. summarize, initially have commodity a are on pace slower To net eased, cost than prices our but and actions
As towards a result, takeout the end of lower XXX million million XXX trending our range. to cost we're total
to Jim it results. turn I'll now, regional And to review our over
