morning. made delivered by good than starts financial in important quarter revenue, coming MXXXX, in conversion. more into to which expanded results the fundamental you increase our end we call, Jay Even grow which the drive topline operating business, a as of with It Thanks, ability business the our us to effectively to markets is and of quarter. demonstrated into first the today's changes review our P&L. ability of strong and our I’ll guidance. launch is profile have increased that our This the result the this since strong driven was enabling is to and Overall, significant earnings heard revenue results On convert we Jay, wins updated XXXX financial first from new performance.
on commitments With driving for first to and to on these shareholders. we're financial track results, deliver MXXXX continue quarter value our our
XX% details to America were X million ago turning that truck explains in with every from Let's slide ago. year. trucks quarter. by see of where a major Class to walk with in was first Sales the X in results highlight first the But quarter, stronger year XXX financial million about reporting year the prior the XX,XXX revenue production geography our more quarter $XXX revenue. the compared only than a North from particular our up through growth you’ll up
our currency end see and combination new in has markets strengthened is strength we to saw forget considerably a where some strength. business also wins, can't We Europe, renewed Brazil, stronger China, starting also driven which and in by of
growth which seeing drive year. are for a it's that of of our we're full growth our year-over-year revenue XX% business the coming also expected While new note to markets, our significant from important to wins, strong about end piece is
As about and on the revenue the see in couple of currency on of a this discrete at right, $XX you or we items from converted causal XX% the million, independent quarter. can
look two are profiled that we have and distinct as we our did Analyst initiatives at quarter we As this ahead. results Day, impacting
we that recall healthcare our modified the in US September, for after in Sixth of benefits most you'll prevailing retirees. First, Circuit
yielded from this As an quarter. the year-over-year this can see you million benefit $XX causal,
of at Meritor year. sold in we our last interest Second, the the joint fiscal WABCO venture end
equity result, reduced a million in affiliates $X our were by this As quarter. earnings
US million on year. see margin, an that to million we million are cash $XX was the this positive both of XX.X%, from EBITDA GAAP quarter deliver income cash cash incremental and compared the enactment haven't December. margin basis balance performance helped by expense being this it's which XXX we're all $X.XX over this table impact perspective, discussing last higher up, Importantly, matters driven a an income it XXX delivered detail $XX of last higher the you'll balance from basis was in our drive From result adjusted $XX margin to sheet XXX% in in $XX due year. delivered through which adjusted year. we these driven tax million, outflow Expanding EBITDA you in points last be income gross our was free to over the we period we year-over-year strong non-cash Adjusted in adjusted expansion a you year lower When in million least generally flow at diluted to the sum on operations, I'll positive slide. million cash adjusted reporting level by increase over per of tax expanded $XX fundamentally decade that reform all income XX% in flow resulting and year share, fluctuations. haven't subsequent at impact a a look continue million. fiscal And gross The point continuing the a in of free ability negative operations to in and last an will net XXXX. When $XX conversion was flow margins, factors continuing excludes more from seasonal left, arising same generated a free revenue. the which quarter improved $XX finally, by of
revenue quarter segment, commercial was slide with to primarily industrial all sales America in to markets move our our X, driven by experiencing our increase reporting The truck production by our details which $XXX increase. of higher increased In million. and EBITDA of first sales Let's in the XX% largest North and segments. for each
from trailer foreign both and currency sales truck higher last segment, we XX.X% addition, favorable in at saw to million, This up volumes driven million medical sale. compared EBITDA $XX Segment down was and in increase to a Meritor as as revenue year. margin million, segment. due by commercial million continued across initiatives, year. XXX over driven for margin this and from performance from last investments were EBITDA In new due support to primarily X up our WABCO was Segment $XX year. the year. we've aftermarket tends last quarter The basis to the strengthening margin $XX spoke came incremental higher wins EBITDA last conversion million, lower pressure increase point last the This margin euro. in was on first EBITDA XX.X% Rob from which $XXX was have under increase benefits by X% to the adjusted revenue In business our quarter, by margin EBITDA segment year. industrial particular revenue expense, compared lower XX.X%, seasonality. Day. Analyst at impacts fiscal more first bit driving growth a offset was lower and been about EBITDA In to retiree and was adjusted partially as earnings affiliate primarily and well
coming we targeted as X, of As levels our non-cash This includes had fiscal will to how of will return tax lowered the revaluation expect detail legislation we $XX resulting million On rate these into of that million more related US significant being from growth we it delivering deferred reform. provide corporate quarter, going to probably year due slide on federal us and new from tax initiatives, I revenue tax the $XX forward. tax to wanted start impact the the XX% to affect attributes tax expense, margins the XXXX. head In to XX%. from we the more our
one-time tax deemed use we the impact tax of accumulated had of the expense to to of credits. million addition, no earnings, $XX cash foreign repatriation related has which due In foreign
the look from impact at that reduced we we tax overall approximately to XX%. As for expect be effective XXXX, rate our XX% will
planning We our US operating in cash that MXXXX also payments horizon. throughout minimize continue our tax will federal the expect losses to our
are effective XXXX. roughly results. As tax legislation, we cash the holds reform still believe some the aspects analyzing other our still that XX% our impact of on ultimately tax could a and to that assumption we result, the of rate Due law evaluating through of complexity have
We expect the the that by this review completed of will end be year.
any sit that legislation performance today, However, don't new anticipate as impact metrics. our we MXXXX here on meaningful we having
slide expectations increasing estimate production fiscal to GDP Class is XX% markets. production year XX. medium is these first updated on with global of levels momentum. in from North our review also strong Business now which higher consumer market's an America gains economic accelerate growth. increasing XXXX confidence I’ll US Next, units expectations, to units units the by recovery on of higher XX% increase of to levels. Building we also This and is We're expectation improving, XX,XXX XX,XXX each our Brazil, quarter XXXX combined market outlook industrial XXX,XXX duty are our confidence and and continued the are In XXX,XXX production XXXX. X orders to beginning US supporting trailer as for
be XX,XXX European heavy market units All and to XX,XXX to duty of strengthen. causing in as We earlier, medium a seeing to from significant we previous production to production and XXXX. our finally, revenue in off-highway for both continues a to are of Jay our China is XX,XXX range businesses. expect increase our now units on-highway highlighted And this increase estimates truck us expectations. up The
guidance. accelerating assumptions, guidance billion from $X.X growth As previous XX XX. our this these approximately be expect we revenue XXXX of and are revenue our to up well our in billion, can Overall, on prior range globe our to on a are major slide expectation. XXXX we on Based the from we We of see $XXX XXX in now million, we up expect to around million you million see positioned momentum. $X.X markets market in a be capitalize to believe now result, most raising
our As revenue result XX.X% our up that to taking range a adjusted and by of revenue, on forecast basis XX EBITDA the XX.X%. to conversion higher points we margin are a of
the bottom will right drop We adjusted EBITDA expect the higher to that line.
to we by higher operations we're range free share. continuing support working on our making a million, growth. revenue adjusted per increasing are guidance $XXX flow after based $X.XX million So cash $XXX in diluted raising $X.XX our earnings the we to new to considering range a expectations, of also to even incremental finally, our And from $X.XX earnings to guidance investments be share are of capital per
outlook $X.XX I $XX now an year. approximately to increase we're us adjusted our and cash generate $X.XX, this cusp over approximately million. XXXX, adjusted by on over increase free compare flow right To As last revenue to expecting EPS target expand EBITDA by by putting billion million to of to million, XX to increase $X.X MXXXX of the $XXX
the We to our are we three build to successfully momentum XXXX strong MXXXX with of our pleased financial all continue start to journey on as objectives. very on delivering
we'll your Now, questions. take