XX%, approximately of our full-year and provide performance growth cash results had we call, and X% an Overall, and XXXX our by financial you Jay, good financial I'll then million excellent On EPS look free as expanded an I'll guidance. at $XX flow. year Thanks, morning. today's revenue of of with review we generated initial adjusted drove
We $XXX as balance by and sheet also than improved we reduced retirement total million. debt liabilities more significantly the our
equity since well-positioned commitments this our we are and continue have driving As for now a value to result, shareholders. positive performance deliver time on strong first XXXX. structure, the MXXXX With improved financial we capital and to for book
America revenue were slide more and performance the revenue from material, prior we offset offset of during our new These the and online. on while than up also But America. higher truck Class million results factors A in that in more X% Europe, the China X from where business as see production North year. strong wins more impact Sales financial increased incremental continuing points basis importantly, compared on costs. gross we year. margin in production coming to to than turn expanded We net XX higher converted to fiscal full-year the South by year decline $XXX steel you'll labor, last Let's burden achieve
& of the Other Volume, Performance million within performance. side of of adjusted the in can really you steel this EBITDA so item $XX as on line on higher right line operating is see million our $XX this higher of idea strength of You and impact chart, we an headwind of can item get $XXX conversion approximately the Embedded have million performance of revenue. Mix, the the
last two unfavorable year-over-year million the $XX have during discussed from of have we couple impact a items. we did As quarters, discrete
in XXXX the Mexico $XX to we had that settlement a unfavorable a in supplier XXXX, had did million not joint disputes And our we between venture repeat. related favorable million in one-time with First, $X settlement partner litigation of parties.
foreign tailwind gains this a ago. and Next, from you'll million was favorability impact slight driven XXXX. corresponding the hedged benefit loss in This basis. EBITDA exchange mark-to-market revenue to The a a a see year by primarily on foreign hedge was $XX with exchange year a year-over-year
these fluctuations. to of All as transactions of risk hedging mitigate part program our currently executed the were from
you was XXXX. the that compensation than increased $XX our (XX:XX), can financial $XX in expense performance various to litigation the by down Moving Due year. settlements, higher in million excluding SG&A, XXXX, strong million this see variable
executed not in in two In did insurance year. XXXX. this driven addition, drivers our million expense favorable we by asbestos settlements we the have in were SG&A This expense the main of was higher These to related XXXX repeat. which higher asbestos $XX
As accruals. normalized do compensation we XXXX, expect incentive more see we ahead look to to
our strategically and MXXXX head However, to count support we revenue initiatives. add of investment other growth starting are in
last XXXX items tax per and EBITDA rate year. This million see will the than favorable That several sales forward. XX reporting in $XXX increase is increased reported details Truck margin compensation, Commercial $XXX adjusted rate offset tax be an per going you you Slide a segment, full-year segments. expect a should is sales lower and ago year, adjusted EBITDA it this to due adjusted & XXXX of full-year year. for our EBITDA in Industrial from a our income investment SG&A the in In production $XXX $X.XX share, going These from what over $XXX for of incentive approximately while X% walk an or XX%, items the to million year So, from respectively. year, for just levels by were XX.X%. in last million nearly truck will this forward. in resulted step-down that $X.X our We partially up which up operations X% $X.XX provide X% low effective share are markets. did allowed us relatively end adjusted see Europe also were million new P&L of which of by well continuing billion, business Brazil as wins from to drive as of stronger and in driven
While $XX million million due revenue in by our was more than by year. stronger expanded truck X% in off-highway to revenue the China, production fiscal In India, down market. increased even $XX a we as
During customers market share from gaining increased the share, we of well. year, customer benefited that our our with we largest one as and
Industrial on higher margin was Finally, A year performance, costs our down Class last year. million, offset partially and X%, new million was margin last & and in million, ago. a accruals. flat by in came Segment-adjusted EBITDA revenue revenue driven $XXX at to In the an impact year. America, XX% Segment-adjusted up production higher burden conversion North the increase higher EBITDA or compensation and Aftermarket million segment, labor X.X%, was by from our but & $XX basis truck for net declined sales from Trailer XX roughly business $X of Truck of The variable our $XXX steel wins. were Commercial points material, due continued improvement from
slightly Our XXXX. aftermarket was in up business
However, as in in prior-year Segment ago. compensation to the compared The referenced variable XX.X% more by adjusted trailer period offset to compared was well than margin same a in litigation accruals. year. as million year lower driven million recovery market. last I the EBITDA this higher by XX.X% Segment decrease down EBITDA million, earlier, supplier production $X $XXX was was to the decreased $X adjusted margin
changes I court the received making ruling a couple announced we XXXX barring XX, we detail from dissolved to Turning important of injunction the a company retirees. fourth that slide provide benefit certain to wanted In more on previously items the healthcare in September, favorable to quarter.
these result, benefits, we the at modify OPEB was our to contributor which announced our the liability As million a year-end. in intention $XXX to primary reduction
to expense $XX million medical forward of going XXXX. $XX retiree our to from of million expect We million $XX improve in by expense income
$XX in a see XXXX. to corresponding expect million we payments Additionally, reduction in cash
the On $XXX $XXX highlight repurchase funded we We new convertible side to wanted the with debt of the of chart, convertible the million transactions million executed. right of convertible notes I pegged a conversion and note per issuance million security share. coupon of The premium, conversion was with on at issued cash price X.XX% XX% new hand. and $XX $XX which with a the nearly a
As a expense we maturity these debt million by until the significant able transactions, price, interest were maturities $X stock XXXX. and no result to today's that more annually, lower eliminate profile shares million of there X than of are dilution such extend bond at
review we on combined XXXX year are an volumes fourth production, for XXXX. slide fiscal XX. in A Class truck planning Building market environment, our with outlook quarter I'll Next, higher strong improving freight on
than year, can October for XX,XXX more came month know, orders, the and a trucks. you As at in be bellwether this truck orders
up XXXX units levels. XX% XXX,XXX As XXXX, in projecting a A XX% XXX,XXX production to America result, of we Class are North to from
XXX,XXX the in to believe last between similar will be to XXXX, also medium-duty XXX,XXX units market year. We
overseas, continue be solid fundamentals. to look in we Europe freight show indicators XXXX As as stable relatively should economic
be to and, China are end market Looking Asia, some moderate the a in seeing year-over-year roughly flat in India, basis expect we we growth on in markets. our to
be to Market summarized Finally, on returning is Based XX. be which assumptions, fiscal Brazil you outlook, market translates our and on year our GDP second see year optimism that is will row. slide the for positive that be slightly. a up appears demand XXXX to can expected in to is how outlook the these for
America with for step are compared to and to business We billion, truck X% wins drive to expect sales in A revenue billion a Higher to in coupled expected volumes XXXX. $X.X new class North up $X.X meaningful be XX% between up us.
of forecasting EBITDA are next will are in our range expectations We XX.X% margin several that XXXX again There that components to our year. expand adjusted drive to XX.X%. a margin for
joint improvement to the earnings normal Partially $XX well and offsetting growth this in former the on MXXXX $XX in of as interest lower On engineering resulting investment the revenue. our SG&A and expansion the sale to related margin higher expect initiatives. side, million planned revenue medical our expense of WABCO million retiree positive conversion as from we Meritor support the venture in the are increase from
to free and generate operating net earnings In our million capital revenue of XXXX meaningful the can in suggests as to is achievement expecting support we $X.XX XX%. of to million cash our a $XXX our anticipate expense certain approximately toward in operational fully in flow of improvement We rate working $X.XX, you are return adjusted growth in to we $XXX targets. tax our to more $XXX our expect increase And company CapEx even step-up a support the to investing utilized million. approximately diluted we of also growth. continued of last after tax $XX our because share investing see European finally, have generating is of MXXXX MXXXX This year. million a performance loss in that million Included per where guidance and adjusted guidance the effective that's initiatives another in jurisdictions we range XXXX carry-forwards. from to financial in of cash now that we drive normalized expectation to Overall, this $XXX will performance part,
I'll back remarks. the Jay turn Now, to call for over closing
