you, Thank Chadi.
of we will the Now drivers I'll XXXX. us move provide markets that momentum overview give end and of believe an second we through as our half the
Slide Please XX. turn to
to profitable QX in industrial start be strong. The year. XXXX with last mix group with last line QX versus revenue year was X% as making a versus of for in regions mentioning lower the continues Orders customers, backlog Let's result markets. It's quarter in had a quarter toward the that end better were difficult an especially more compare. of In and proactively worth and strong QX industrial. shifting QX, mix organically we a sales
in and in our by from focus We're the growth in gas foremarket end we've higher-risk, more lower-margin Europe, commercial which weakness Since aftermarket shifted partially markets industrial on businesses increasing oil markets was our marine QX in seeing businesses and projects XXXX, Americas, away profitable and globally. offset applications. while
we're we're scrubber In XXXX with While for pumps. growth areas. commercial of strong the other demand our taking in are softening, end European seeing horizon, marine, advantage IMO on markets
ongoing commercial is customers the We're our Asia-Pacific region. new offsetting and This vessel in positive and manufacturing weakness in marine momentum China to in the our serve sales capacity expanding orders. better
our business, base Global that quarter short-cycle in installed an the aftermarket we continues extensive orders. grew second to have fuel our X% For versus aftermarket prior year.
capture increased the dedicated sales improve rate aftermarket We've our installed capacity base. in to our aftermarket
half We the raised expect revenue. for XXXX, in approximately aftermarket focus remain to the growth moderate second Pricing a half. midyear the At on X% X% prices actions business. we
quarter X% roughly on By of this X% additional of the revenue. prices second to industrial the the an year, by increased end half we
backlog strong in positions strongest QX industrial backlog since second establishing revenue. half we're XXXX. entering For the QX the for us This overall, industrial group with
with line QX in QX, moderately expect prior and For year. versus orders we sequentially up
in The energy shift results energy with XX-month to our let's are line seeing in our Now segment. we're plan.
significantly overall order across expectations prior our upstream particular. we market many year. Overall, oil energy businesses had As in gas for line lower know, we than of in lowered QX intake energy and you and with and in
upstream Refinery QX to down in in North slow market. the in project timing environment year land valves down prior due Organic orders timing the market orders. but driven American year large QX, orders were primarily of a in by sequentially were versus XX% about project up orders of refinery year, and over valves
of with order orders project remains activity to timing in remains healthy project the for be As The in we've difficult outlook can the this predict. past, pipeline strong. mentioned business business lumpy and this
rig we the In degree takeaway higher a levels in slower brought upstream This operator than well the completions were happening driven half softness online anticipated. as saw orders counts by US We the on in market isn't expecting grew and capacity stronger was to back distributed expected. valves, declined Permian. spending as
cash and spending prior combined resulted efficiency industry being forecasts. completed more about rig in are wells with disciplined operator Operators declining has counts That in CapEx significantly flow. improvements below
destocking. unfolding, distributors fundamentals With market we're seeing these
driven Looking we upstream and to in by in revenue, QX ongoing for markets. expect orders weakness largely energy softness overall,
by outlook plan. line our driven While in energy refinery there timing valves upside in with in in This is potential orders QX. expecting is our we're accounted project of the business, a orders XX-month for
generated organically Our XX the Fighter, of $XX DDG to nearly class Sub, Defense Navy destroyer million. driven Virginia large US aircraft aerospace and to and Joint Strike the XX% strong by quarter carrier. another CVN-XX orders, increased orders The which Class was defense growth segment related
continued decision review AXXX XXX the strength continued reduce have and ongoing in orders strength AXXX activity. production on Boeing's the rates XXX upward trend by driven a and MAX impact aerospace defense. build amid Commercial in spares not aerospace in quarter the aftermarket and will Airbus to the their recent material
in spot prices orders aerospace raise and and focusing defense, demand. aftermarket to primarily continue on We OEM
the of quarter entered organic on For record line with orders of The large timing expect overall, with year we and margin to the decline growth strong a and QX, a looks we aerospace in double-digit continued top bottom the orders. In defense remainder expansion. year-on-year Defense in second backlog. and revenue result both
growth submarine US, UK like like strength submarine in aerospace Strike current Joint of the in is Virginia Commercial and like and the aftermarket Hellfire new Dreadnought-class the missile, the continued Defense Airbus and Columbia-class AXXX The and our driven Defense and in Fighter, programs the programs, and Class activities. start submarine the by programs the commercial AXXX
guidance. Now, discuss to I'll turn the call back over Chadi to
