you good our today’s plan. We from XXXX financial revenue, results adjusted delivered first Jay, and drove EBITDA and a to call, increases the EPS. Thanks, and On in morning. adjusted adjusted updated start EBITDA, Overall, I’ll as our our guidance. Jay, we heard strong final review margin year MXXXX quarter of
up Let’s The compared from primarily the through the largest walk increased driven $X,XXX,XXX,XXX see X our and increase market Sales Industrial to prior rise other continues details came a Aftermarket, the and XX% you’ll from year. North truck to QX first by by truck American up contributed were Trailer recovery compared with financial Slide up in to In results where Brazil, year in growth North businesses, Class share. year. production production this our quarter also million And $XXX the with market X production ago, higher in last to year. sales. XX% quarter, turning America finally, the
expansion by of quarter, XX.X% have down at that ago. market basis conversion EBITDA pressure XX%, we about on is which joint which margin levels As XX.X% adjusted we that U.S. from year the we which with on million a this from came costs higher other do an is throughout at to FX a reduced this line $X costs. at revenue you ventures, partially primarily at recover seen these and expected in year sales the the premium some the with right, last overall capitalizing expect by million margin in performance We XX EBITDA gross this prior offset can in in have year. on million this higher see strengthening year. and our of compared result XX.X%, not as converted yet of global are driven half $XXX conversion environment, market from steel material, our increases Gross dollar, freight The in also margin and point on the production over generated Operating earnings normal we This experienced the fully conditions. the EBITDA we Included gross margin, adjusted latter was adjusted causal the to in unconsolidated by by range. headwinds is recovered XXXX. $XX
gross business that gross implemented Aftermarket this and other such expenses expense. to that One statement. medical line of the amounts for to reflects implemented see been the margin. income removal a our from costs. reclassified our benefit some on now to component margin and point operating accounting last Additionally, more we recent retiree quarter, both actions our we pricing that Due in non-service the update from year standard our These in of pension cost year on income notice to you’ll January mitigate were this expect have item
than these of this diluted increase. XX% this excludes subsequent share, inflow stronger growth we more in expense compared finally, in supporting last operations, items, we non-cash were a significantly in Last move Higher revenue table and year. tax was of year. liability. a million recognized down adjusted our $XX income Adjusted the higher net $XX arising two you a by tax see million the GAAP income of discussing Maremont is from more you’ll slide. was over I’ll And reporting period investments $XX from continuing remeasuring income which inventory million, the as left, negative $XX increased year, support impact increased we performance, to of due asbestos drivers gain year. per financial incentive last be to of an U.S. capital the opportunities. detail As recognized same to million from in million we’re last reform. key that payments offset in the this free continuing cash XXXX There was year, flow this of $XX on operations, million more $X.XX compensation $XX our which the increase enactment than And adjusted invested to from both in quarter expenditures resulting
with higher gains. up dollar market EBITDA was adjusted only million, by share. to partially truck X, both move EBITDA Commercial increased our by quarter segments. first million. and increase our Trailer announced The resolve Last U.S. sales segment, reporting driven Maremont of was Bankruptcy that announced Recall remaining The on U.S. primarily Code. points that week, update driven by voluntarily intercompany of cases a and businesses. Code XX under on & of Segment $XX Unfavorable production America in In the actions the growth these of an I to to in Truck currency EBITDA to an margin actions $XXX foreign adjusted which the provide impacts million Chapter primarily subsidiaries Maremont North was was our we Slide due by sales adjusted of for year. in funding and filed and key to Let’s revenue strengthening costs, Section by last by claims. details from of from basis XX, Segment include increased On Segment Slide higher revenue. higher of loan all X.X%, and primarily XX% offset to Industrial contribution to the in aftermarket, revenue, last expense million $XX courts were million, by driven for at $X material approximately defense we increase FX. This on compared partially XX% in Maremont. adjusted Trailer by This segment, non-operating wanted our came Aftermarket future an Truck conversion reorganization under the correct margin freight roughly conversion asbestos adjusted EBITDA confirmation offset or SG&A XXX(g) & a North the was driven year. increase In $XXX $XX EBITDA and and The December, $XX seeking and compared last increase our adjusted EBITDA was create & flat million Meritor. to Commercial the repayment last almost XX.X%. XX trust year. million of primarily its year. to plan million, primarily subsidiary, that Bankruptcy up Segment XX% higher the sales specialty trust, and our America grew was $XX
of which As balance we the complete, best expected a liability. from liabilities in net now a approximately of $XX gain million Meritor’s as to we the of process asbestos estimate liability represents XX% result to actions reorganization bankruptcy eliminate first plan, recorded net the of this the is remeasured quarter Once the initiative, sheet. terms asbestos are these Maremont’s the
Next, market review global our XXXX XX. year I’ll on updated outlook fiscal Slide
of the some fourth estimate to Class saw that for our previously still softening rest the production units. orders quarter year. by X our were production truck we elevated fiscal of backlog gives XXX,XXX stronger Although Therefore, us XX,XXX levels should This in are is anticipating. almost confidence our December, driven approximately primarily we increasing a XXX,XXX, expectations we for by than trucks remain
XX. forecast keeping now prior all $X.X up Slide to markets. guidance the continue these can our volume markets on so our our updated of these XXXX. assumptions, strong to positive outlook remainder approximately be levels we unchanged, global see Our prior for raising guidance. of are $XX end on market revenue million are is for from assumptions expect to our billion, our you Overall, guidance for We at Based other we support solid
We In This our electrification adjusted approximately are of initiatives. we’re to are margin incremental is conversion maintaining from investment our EBITDA our margin able generate, incremental of support stronger we light higher-revenue outlook the modestly outlook increasing and some our offsetting investment conversion our revenue at guide. to for XX.X%. the
you as see think trend of increasing expect sequentially. we In our addition, seasonal about do QX, revenue to normal
see we the modest of strong to than the production experienced couple the levels our in next years. most be we much with first quarter, quarters sequential However, up step in expect more in we
higher to our This $X.XX outlook QX $X.XX coupled an expected million of sequential operations. also increase per reason, repurchase expected to yields largely in flow expected to And an QX, continuing expect increase the common executed income relatively finally, cash from XXXX. we our share, to adjusted is at The flow modest. diluted prior you maintaining approximately in margin is guidance. offset to step-up EBITDA generate any with per from capital guidance from increase from MXXXX of close income, target. X of revenue shares million expect that earnings we continuing drive revenue, to in $X.XX no share stronger in $XXX should corresponding for are million. us puts which working increase above operations our cash free we With be change in earnings line a be our top to growth in free For investment, $XXX adjusted by This
is this discussed Meritor from our strategic the we generate and focus as to Day returning allocation our Analyst and MXXXX performance to capital value you we priorities of expect supports at month, of level this investing shareholders. As should growth last cash on it’s cash generation to from level our in that transition as we MXXXX MXXXX,
the about of plan. positive path puts conclusion this the We’re start excited successful which to to us our on year, MXXXX
Now we’ll take your questions.
