commercial scheduled the Aerospace by the and up $XXX XXXX chain a the XX% due fiscal for and quarter. compared OEM Thank traffic. down you, million, sales year respectively, quarter strong delayed quarter higher sales were to sales in for domestic orders for to and Tom. $XXX million, fourth prior positively prior by $XX were XX% segment X%. were Sales quarter. Defense supply earnings rates compared fourth Aerospace an by million, sales XXXX year of quarter approximately of increase million quarter continued quarter fourth of for XX% global Commercial XX% an passenger X% of shipment. $XX segment for aftermarket were for driven OEM impacted fiscal the Net quarter $XX segment negatively and and XXXX, sales the earnings fourth elevated the prior from sales disruptions, the or sales the segment Segment increase quarter million of in of year defense of by the were recovery were full impacted compared XX.X% build of XXXX which XXXX. year were aftermarket fourth down or XX.X% to to were sales of volume.
for year or to fiscal for $X.XX fiscal $XXX were segment Aerospace prior compared a XXXX compared of decrease. for million of XX% billion were XX.X% year. segment XX.X% For segment earnings XXXX prior the year, to $XXX billion, segment the sales, million year sales or Aerospace sales $X.XX
XXXX by X% improvements is offset quarter XXXX decrease primarily partially $XX million to of compared in as of $XXX in currency for as of natural Industrial to fiscal segment sales turbine XX.X% weakness same engines the due of Turning gas to primarily in foreign were marine. The or million, to of were rates. Industrial increase of lower compared in the sales the segment year was sales, sales Industrial. quarter sales the fourth China, prior $XXX favorable period to due decrease well Industrial The segment or year. segment earnings X.X% exchange of the gas for impact industrial million a for prior million period, $XX in fourth
for million Industrial XXXX, compared $XXX a sales the decrease. year, were $XXX segment X% fiscal prior to million, For
XXXX, to power as I Excluding $XXX related fiscal segment divested the businesses, and quarter XXXX which refer RFS were were and systems of sales Industrial in for million. the renewable will third
Foreign million segment $XXX million segment of for approximately exchange $XXX segment or a of sales. favorable XX.XX segment XXXX XXXX sales. were million. impact had were earnings currency of sales $XX Industrial for for on earnings rates or fiscal segment Industrial Industrial XXXX XX.X%
non-segment XXXX. and sale of expenses of X.X% were XXXX segment were sales. R&D $X.X XXXX non-segment $XX for for for $XX for million fiscal period XXXX XX.X% quarter fiscal XXXX quarter. XXXX the At were million the same compared million XXXX of XXXX. million or quarter sales $XX both year. fiscal Woodward on expenses or to for fourth sales expenses fourth million segment of was were totaled of million Adjusted quarter for the level, $XX the non-segment for Adjusted expenses expenses of non-segment the of X.X% compared for for compared in to fourth RPS, quarter fourth the $XX of million adjusted charges, the the year or prior fiscal restructuring Non-segment of prior $XX for earnings XXXX Adjusted excludes compared Excluding the gain Non-segment million non-segment for the $XX million of properties. primarily quarter expenses XXXX excludes the for fiscal to to fourth $XX million. expenses industrial fiscal fiscal XXXX $XX fiscal
$XX R&D fiscal of SG&A compared adjusted in of were SG&A and quarter for $XXX sorry the to XXXX. million XXXX. For X.X% SG&A $XX and XXXX, the million of million quarter fourth sales I'm XX%, expenses of XXXX fiscal compared million million of $XXX $XX fourth adjusted X.X% SG&A both or or for were sales to
expenses to and primarily of SG&A million expenses costs. $XXX For compared were fiscal which $XXX for both XXXX, expenses $XXX XXXX, transaction merger SG&A excludes of million and divestiture and adjusted a fiscal million SG&A adjusted SG&A a
was XX.X%. For adjusted effective tax effective the of XX.X% was and the rate the XXXX, quarter tax fourth rate
was rate and XXXX. compared XX.X% for effective was XXXX, XX.X%. quarter was to XX.X% the The tax XX.X% full XXXX, effective XXXX. effective effective rate the tax rate for of fiscal fiscal fourth For for fiscal XX.X% adjusted tax for XXXX, The XX.X% fiscal tax was the to compared year adjusted rate
cash at $XXX million the year for million. cash $XX the by to XXXX, operating XXXX activities million flow fiscal adjusted prior for period. expenditures net $XX compared was to Free flows; for cash $XXX Capital year cash free for period. million provided flow million, XXXX $XXX were both Looking prior compared for and were
fiscal primarily management, Leverage For the was flow working X.X related cash free the million was cash net lower capital flow was quarter. cash in free $XXX times of flow was free XXXX, EBITDA increase end offset The effective and fourth at $XXX earnings. and flow adjusted free by to million. partially adjusted cash
through available liquidity significant on revolver billion and combined hand have also $X.X cash approximately capacity. of We
During returned million program, under to repurchase the XXXX. previously of of million was stockholders XXXX, end in $XX the million $XX authorized $XXX of million remained repurchase of of form $XXX share million and available the at $XX shares which year fiscal dividends fiscal
chain and XXXX COVID chain in expected although if in Total markets the inflation sales is Woodward are on improve double or do costs. turning XXXX, pace billion in the sales billion. improve around and both to to are low growth pressure the our and to be expected and of to negatively and segments Lastly, supply pace of range and uncertainty be net disruptions $X.XX fiscal fiscal be supply additional digits outlook. labor in each Growth expected the mid-teens. of Aerospace affected volatility disruptions percentages to persist. anticipated not year puts are and $X.XX material the to profitability recovery End could the industrial
and increases Our MAX build outlook improvement assumes the in announced aerospace China. in rates further with certification XXX anticipated alignment in
fully consistent defense continued due points, recovery is gas increase the to to in cash by generally costs, offset to points, partially expected the are primarily segment shares incentive variable to aftermarket. approximately and growth is sales commercial in by In million the improvements to partially Guided is segments inflationary is flight primarily be and segment sales inflationary both Free expected return greater expected being around to basis return drive XXX year-over-year, traffic of to pressures. earnings addition, a pressures sales compensation flat flat growth a and to favorable of weapon are volatility Industrial natural approximately points incentive a commercial be with to assumed $XXX of offset up percent be and segment expected be impacts of approximately to sales ship natural Industrial productivity variable uncertainty OEM decline, a Earnings per generating in remainder basis growth continuing annual pressures. diluted rate a of expected the on increased while utilization. to approximately demand rate are XX%. cash are earnings XXXX. quarterly a and power volume, both compensation by due prices. XXX gas truck expected annual is be expected due weighted as the XXX and cost The for sales Aerospace equipment, generation to inflationary to sales segment cost and outstanding. the flow of sales, as flow than be to $X.XX, lower offset increased between are be investments with annual partially $XX expected and oil based guided increased is share volume sales effective free tax higher tax XXX%. The China driven higher by costs of approximately gas rising year by the costs $X.XX for in of return weapons variable average to million, compensation rate. aftermarket, percent anticipated conversion expected basis
receivable. As requirements, business Operator, approximately the and to Also, driven by are fiscal primarily capital results sales to ready of accounts by growth expenditures our concludes call returns, and quarter working we increase to open on This million. we anticipate are expected higher now year the questions. capital XXXX. the $XX the for fourth comments
