Neil. Thanks,
a Just reminder as I before begin.
As additional quarters, a reference. to have investor your our prior for we supplemental investor site in posted presentation
This second quarter detailed of on recap our results, recent quarterly guidance, presentation provides acquisition more of details a and Hydradyne. updated our
foreign offset decreased daily now currency our organic the while sales negative had in decreased a on in basis. point partially XXX basis financial by basis contributed basis XX an a Turning prior translation. sales positive performance Acquisitions points XXX to the point over year factors, these quarter. impact. Consolidated X.X% quarter. selling the from was Netting difference X.X% This impact days
As year-over-year sales in the pricing quarter of was our less line relates points pricing, with XXX the to estimate slightly basis on we product and expectations. growth than it contribution for largely
to now sales Turning performance by segment.
nearly on from basis our segment daily was the basis contributing quarter our segment X of month accounts XX.X% highlighted excludes Service points the XXX from weaker XX percentage XX Engineered points offset the acquisitions, from growth, sales margin more increased implant basis. of within power positive December.
The applications improved with sales and and positive reduced primarily year basis over demand last MRO acquisitions project uncertainty. impact over segment, X year-over-year.
Within across X.X industrial Center EBITDA of stable Growth our automation year, accounts. prior X.X% as October, single-digit improving point in impact power customers basis. in points followed reflects partially our translation. by percentage across sales than from and November, from well trends selling capital This from of an by prior in selling basis in extra our sales organic headwinds OEM by segment decline day during while mostly high weakness Service the a in The across spending basis sales to mobile sales was is the was year-over-year. provided an spending, demand with in an by fluid X.X% sales from to the on on additional a an where growth. customers, segment driven of declined daily This across and were lower of organic declined reduced power technology-related The idling, holidays markets. impact days, as December late was year-over-year delay impact EBITDA point organic balanced As This decline presentation, unchanged by in On Slides impact more negative X.X% consistent more reflecting a decreased fluid XX relatively This primarily increased currency continuing national sales difference ongoing local macro quarter plant response in foreign and XXX a maintenance organic year-over-year. point pronounced the weaker basis, driven primarily daily fluid Solutions year-over-year the end Segment customer was operations markets.
Meanwhile, sales X.X% Center operations. most stable extended activity, trends quarter timing XX
firm sales daily offset over power where activity infrastructure. were partially across project sequentially, flow and automation our X% control process increased fluid average operations, Softer and year-over-year by ongoing sales growth on X% reflecting
to segment from despite strong of XXX margin EBITDA increased X% the to enhancements margin primarily internal prior as ongoing basis extent, decline expense our a LIFO the expansion lesser performance year to XX.X% The strategy. expanded Solutions more favorable over from year continue our contributions value in addition, prior while the gross we In proposition, points mix, well operational lower as as initiatives reflects sales and and quarter, tied levels. Engineered EBITDA segment execute
gross to margin consolidated Moving performance.
the points prior Page XX.X%. XXX As highlighted compared basis of on to deck, increased XX.X% of the gross XX of year level margin
point During net on a gross impact to recognized year-over-year prior had XX in million year expense compared LIFO This $X.X the $X.X the million of quarter, tailwind favorable basis margins. we quarter. LIFO
impact, Solutions of this local segment the execution, ongoing sales segment Solutions performance Underlying strong our benefits accounts. headwinds generated Excluding in across margin still ongoing lower quarter the margin performance, gross and reflects the expansion mix Engineered channel tied to solid we despite Engineered and initiatives. our
from XX the during As On extra was costs, SD&A in organic points increased it of relates the an adjusting the prior quarter. the when payroll to X% increase the prior year operating our and over year expenses prior selling, compared X.X% down constant currency of for quarter. XX.X% up administrative but reflecting to expense sales distribution SD&A levels. X.X% over was expense period basis year day an quarter, basis,
did and against controlling Our inflationary backdrop continue for demand a the pressures managing sustain in muted growth. while investments the order quarter in team nice to job costs balance to critical
transaction-related cash $X.XX tax X.X% note, points benefit. prior pretax prior EPS interest balances adjusted prior year XX.X%.
Combined levels level million which $X.XX, allowance from of up income Of on a year $X per from of with share excludes $X.XX. a reported per earnings and deferred with the or reduced We XX.X% margin included valuation count, EBITDA and particular, occupancy initiatives adjusted year was reduced share gains basis also higher million efficiency positive reported Overall, on helped performance, expenses and Hydradyne costs. X.X% to expense $X.X benefit administrative coupled acquisition. of benefit gross sales, expanded spend lower higher related while quarter diligence from approximately balance due margin the resulted which of of EBITDA the the XX EPS year-over-year greater of slightly increasing ongoing In variable average share we and in
activities totaled while cash was $XX.X relative Year-to-date, performance. income. net is conversion of million cash we Cash the which during XX% approximately $XX.X to million, XX% up represents and generated year-over-year free second Moving $XXX to relative now conversion net generated flow cash income. of quarter representing from free operating flow, XXX% have flow our to million, of
cash capital enhanced well as ongoing Our far to investment more flow progress internal as reflects working profile. primarily year initiatives so compared modest prior year margin this our with growth and
Turning Hydradyne. our of now acquisition to
operational we're represents proposition Applied Not about overall the suppliers, milestone and fit customers, with provide transaction. Hydradyne's to and all early which strategy, return-based stakeholders. which and our another this positive deployment Neil does on only operating strong well foundation a caliber culture will notable to customer-centric M&A build priorities framework, acquisition extremely It and value our our As with aligns mentioned, excited capital well on. local extremely for momentum
it was relates to million As deal, value a to transaction hand, price anticipated before of synergies. purchase financial forward some funded considerations on the of the the with X.Xx cash EBITDA $XXX of enterprise of representing multiple
over We $X.XX million in accretion EPS to the accretive first and million $XX as approximately EBITDA generate approximately of amortization be within EPS net balances well transaction. acquisition $XXX intangible as after million The expect sales year cash ownership. share, of is or months the XX in well interest estimate to per as projected funding $X.XX on lower the income expense by first the reduced transaction $XX as of in
and before cross-selling, the these addition, efficiencies across leveraging harmonizing are and capabilities systems, platforms. complementary solutions, to operating anticipated driving combined assumptions technical In tied operational synergies
are our sheet net begin following increasing additional We balance XXXX and million ownership. billion of $X.X XXXX. more $X Of the our X.Xx of initial within capacity expect remaining. leverage the meaningful million and in forma in synergies of be first sheet net to a transaction, pro modest strong fiscal fiscal approximately X to to with targeting balance to we Based remains note, XXXX on synergies projections, but develop $XX years
Turning to now outlook. our
margins our EPS we fiscal today's XX presentation, the reflect acquisition raising project XX.X% X% in second estimated to release Page $XX, up guidance based and detailed of and XX.X% of $X.XX XX.X%. on press our X% $X.XX now performance of full from are growth of year XXXX EBITDA to down Hydradyne. of EBITDA our sales EPS and Previously, As of margins contribution and X.X%, earnings stronger indicated quarter to initial We range in XX.X%. X.X% to sales to of $XX.XX of our assumed to guidance growth on to
assumes to sales prior on decline down basis Our updated assumption fiscal compared X%. an guidance to XXXX daily by full year X% our average to organically up X% X% of
sales to near quarter half second this organic taking are sales We organic continue given which policy improve uncertainty could also in the growth customer assuming to term.
We're believe more and tied XXXX. now interest restrain capital of slower trends, trends and third reasonable, account is sales in early currently assumes year-over-year to percent in start which ongoing mid-single gradually spending into prior now macro fourth rates, the fiscal earlier, We the a midpoint a a the including noted percentage followed single-digit quarter, average in by modest declines in third fiscal by XXXX, down half to the quarter. are return by the year as low guidance decline January. over organic The low to second single-digit mid-single-digit of of growth year-over-year production
appropriate, second M&A year contribute remain sustained near-term sales, more growth a our half offset Overall, our foreign translation partially remains and forward, year, and easier currency balanced benefits headwinds. definitive considering the approach transaction outlook indicators, positive by demand internal including setup believe projecting Hydradyne activity. underlying year-over-year while industrial generated the ongoing are of inflection comparisons, signs to of we points XXX we initiatives, of our constructive XXX We in moving from improving to to on a prior sales in basis
to costs, mix to quarter EBITDA around XX.X%. from sequentially ongoing This quarter inflationary XX%. expand acquisition, headwinds, our level Lastly, margin a sequentially initial assumes still third slightly expense. X, of from we margins annual to which increase, Those considerations effective XX% a as strong to expect Combined higher decline to quarter expect well performance relative LIFO second margins margin anticipated normalized third was Hydradyne investments, execution as moderate with growth year-over-year. our integration and merit January to gross we more our gross perspective,
the integration Lastly, from and align we is begin initial guidance Hydradyne within our end backdrop. in as initiatives assumes muted modest a quarter market accretion updated third EPS
fiscal as call recover. accretion begin into turn begin ramp that, fourth With now comments. back to XXXX markets some for achieved are and and to expect in quarter final the over to synergies We initial end the will Neil to I