morning, everyone. Good John. Thanks,
our go items. then usual, segments few and a through corporate results cover each As I’ll in of
start today me Let Technical Products. with
great results $XXX million As you a had quarter ago. increased this year heard earlier, a Sales we segment. of XX% in record from with
currency by translation the increased euro, driver aided a volume stronger which While favorable from biggest X%. was
and the with success materials environment our growing well growth digits. double our very of tape increases new We backings continue performance and market market with demand harsh see also abrasive Asia, performed labels. in strong by to continued specialties Filtration topline for in
our prices due higher average to effect. prices improved transportation income manufacturing volume actions XXX as growth and selling and in year of a from as In and adjusters in the value earlier higher last of to record was well points from Operating $XX added basis costs. higher XX% materials performance filters taken price quarter sales increased increased as up income This addition currency, rate. took and million volumes year. was The third better to resulted
operations These moving offset items as higher the part from American largest costs. business filtration loss the quarter, in fourth more improved improvement of was to our to of input manufacturing of part and anticipated the productivity. as the $X than million filtration increase the resulted down better German While due well North the
started As were quarter as resins the we we’ve still a elevated, latex our while in headwind well see benefits significant of activity. and some cost for third were the moderation costs first as discussed, year. In this to half pricing from
Packaging, Fine $XXX to from up Paper Turning were last of million & year. revenues
outstanding While growth slightly lower, this premium was than in performance the where grew X%. our were packaging mix sales higher and channel John volumes more mentioned strong retail and categories. a in offset key growth by price
distribution getting Neenah are Bright branded as these brands SOUTHWORTH. million $XXX gaining the approaching the The our ASTROBRIGHTS of placed on job large majority items team with recognized a new products now White, are sales shelf. retail and has and great done Our of
the more maintained was from quarter, topline settlement benefits was to $XX down income after the While by $X.X million operating excluding of year. compared in insurance million than last
as $X.X were cost to and than year. of up million costs due mentioned, $X John was In transportation last around challenges performance higher in carrier and, also rates service million, operating addition to changes pulp worse short-term
were further reduce as manage complexity by annual and improve capacity to the marginal Some down of these and higher costs should we exacerbated subside maintenance efficiencies.
talk a effect continue trucking a are later, we’ll transportation and about year. as taking likely rates change However, of in as result this elevated to regulations
and our Selling, costs administrative and to certain SG&A with Turning million include spending cash run to expense up $XXX cost million, last was million of and the $XX were this ago $XX were impacted Debt higher past corporate million a Both were million prior In year year. year. expected million rates our versus timing interest at at $X.X also we year. integration $X per with up by to above last we guidance. general, consistent per average investment expense expenses. of $X.X around Costs $X.X we general of interest related in year was in portion a lower Unallocated from of previously next quarter, Costs $X.X quarter borrowings acquisition, restructuring. short-term $XX.X million, due $XX the Net and as timing year. was also communicated. the slightly for below our additional $XX year, capitalized from consistent and up are million average due to to was million items. but million expect million rate and to million corporate interest years last XXXX $X.X filtration this
November was over slightly additional debt The rates rate X% at above at acquisition cash million X%. U.S. X.XX% $XX at bonds comprised financed borrowings $XXX and average Our was on of less fixed rate just hand. an borrowings variable of a than of through Xst of and short-term of Coldenhove $XX of million on million
would as Looking from that of as was of no primarily at ago assertion a taxes, down result our tax repatriate year XXth rate foreign a longer XX% our we earnings. book XX% of June
impacts any tax excluding from XX% around is rate benefits. excess sustainable expected Our
Our our in prior quarter last XX% as filtration R&D build was increased last cash like XX U.S. capital tax investment. investment sales, million Germany. as working rate less well million years’ below XX of on depreciation in inventory With this operations from credit and from our consume the in quarter than to due also benefits areas anticipation is tax receivables we Cash up in higher but down year XX million, the in as fourth year. we significant quarter accelerated filtration
year, year. needs Cash higher and shape remain on XX of benefit are third and million collectability was than related in our focused remain without million X present quarter Our expense. in million, and excellent last down ability about million Post year teams receivables grow. expected condition. in last minimizing and outlays funding XX service the million this levels very capital Capital are plans our from current pension of employment to in and from working customer good spending compromising down XX terms X
quarter more will capital down, the spending year. deferred With fourth occur this German in of the
to while maintaining the best to an growth returning We’ll our of returning return We’ll organic, investments our can recent opportunities do like M&A the that are part to be returns However, below our times of at approximately opportunities. of significant XX our the well acquisition full-year spending is on Wrapping sales a is XX year. to important EBITDA last capacity spent deliver up, we X% strategic latest strategy to of borrowing capital the is a projected an continue flow find which balance prioritizing attractive double-digit continue million and targeted debt packaging. strategy after investments, price. in cash organic good X% capital meaningful within maintain shareholders. to to increase sheet how company’s and a by remains fair conservative million be and rate to and part acquisition available our have still our growth range example on our this filtration we and well under will X we Coldenhove to of future even act typically
cash attractive by buybacks. of Finally, portion supplemented occasional flows return a our dividend will through an share we
this of over commitment. double-digit dividend demonstrated clearly consistent five the years increases record Our past has
make returns turn we are I’d investments As With shape a John. categories, to we and it into financial we as you, to position; strong us head great grow that, like our on year. maintain in provide added back that and next targeted capabilities
