good Joe, everyone. Thanks, morning.,
We company following November combined the performance acquisition of for on which Milacron our closed reporting are XX.
includes year the legacy three Our Milacron days first of established includes all Milacron a We’ve results. quarter XXXX, reporting XX new business of segment. that segment of fiscal
We by I driven basis with grew Adjusted XX consolidated year-ago. compared quarter, of the for expanded the Equipment $XX revenue the reported our million XX.X%, Milacron XX% will over increase a XX%, margin due year. an prior Group. Process of of primarily adjusted revenue $XXX EBITDA EBITDA begin of Organically, to and results. the to points total increased million X% acquisition
XX a a per $X.XX decreased as EBITDA share. business per GAAP Organically, million and or We and share to net compared decrease of adjusted $X.XX integration X% margin primarily was loss $X acquisition adjusted a points, basis of of result reported That costs. last EBITDA increased year,
of X%. net During in $X.XX, Adjusted $XX one-time or approximately $X.XX contributed adjusted adjusted adjusted earnings quarter, of with of share of Milacron incurred $X.XX to in Organically earnings connection share $X.XX a earnings these acquisition. million million the total $XX year-over-year. per per the XX% of share. resulted increase increased costs Milacron or income we an per
down reduction. XX.X%, affected XXX the The largely rate points effective quarter tax basis benefit rate adjusted to from Milacron a statutory businesses. primarily the related tax This tax for year, legacy to foreign tax due benefit was prior discrete
acquisition, rate the tax we effective XX.X%. adjusted Excluding be estimate to the approximately
that cash $XX expenditures operating to offset lower flow reduced by Capital year's the million acquisition in generated Partially million requirements. the of was quarter last We primarily quarter. working and in $X integration first quarter, XX% than due and approximately were costs. capital
shareholders We a finished Milacron After net we also form $X.X in returned quarter the closing $XX to million on with our cash debt billion. dividends. the of of
Let me to one allocation leverage. capital reduce on pay number touch and our is down where our debt strategy, priority
our beyond over dividend EBITDA are we leverage next to quarters. current debt using paying excess net debt the fully cash down generation X.Xx, Given our to is several committed paying to
leverage we focus resume on executing back returning targeted to cash Once are on shareholders and through to strategic We we and investments expect focus targeted are range. curtailing M&A comfortably we repurchases as our leverage returning repurchases. ratio, within to share our our activity share
expect a strategy. will We profile and continue sheet maintain a balance to liquidity provide strong profitable our growth to that execute flexibility to
the Group. million The to of X% equipment Equipment to the process with year. revenue next grew cover the let segment prior compared slide, me performance, Process Turning beginning $XXX group
XX%. Excluding systems extrusion the end experience large of expected. continued weaker primarily continue as by revenue material across impact other we sales for demand and where foreign of That handling capital by increased the to currency industrial exchange, markets, for growth growth Revenue lower was demand offset was we equipment plastics. driven production
equipment capital year-over-year. business Group quarter million exchange. the currency or aftermarket X% X% overall $XX proppants excluding In The in decreased Equipment sales Process foreign particular, grew
primarily EBITDA and mix productivity gross partially basis by points, Adjusted margin points. margin XXX increased of XX.X% by business XX pricing Adjusted inflation, driven basis was offset improvements. down and
separation a the large of for have we’ve and proppants, lower lower equipment systems margin projects pressure from of margin expected, higher some As strong proportion margin. which polyolefin proportion
opportunity base a margin the high recurring for system Growing revenue element large in is of the the increases Keep aftermarket our increasing mind our that future. of and business growing the in installed of revenue higher-margin aftermarket key a strategy. base
decreased discretionary the The XX.X% a currency XXX points have efforts million the Operating percentage basis at compared end Equipment decreased revenue of Group on cost of excluding the a order the focused benefits. year, X% and as $XXX result or as expenses backlog Process impact. control to prior to foreign restructuring quarter, of X% negative
be hand, other Also, expected projects each fourth had the the sequential we the Group increased Process noting quarters. polyolefin driven healthy orders sequentially worth Equipment quarter, backlog that projects. strong pipeline coming just to the awarded sequential X% growth not polyolefin compared of to by backlog On for in projects. a large there businesses, in the continues Coperion be of It's to
burial volume decreased business, Batesville prior Moving of demand X% estimated to $XXX Batesville lower the compared million, for Batesville the year. unit revenue to caskets. despite increased
industry. However, in the long-term a of decline average the selling trend price decreased continued result as mix of
XX.X% the of as prior to cost margin incur through the performance XXX quarter, higher was than in This addition business costs year. pressure and as business margin health care in the faces. was some typical lower the work expected EBITDA Adjusted the higher inventory mix basis points
expect next lower and quarter. now more will a anticipate We steel normal effect improve profitability have contracts to will healthcare return We we level. at costs in cost
year the the to forecasting gains of are margins. we that incremental for Additionally, balance stronger productivity contribute will
to efficiency, team a flexible environment in manage XX% continually reduce business We relentlessly to year a operating continue to and model Batesville Hillenbrand the margin of the organization. and Batesville adjusted XX% operate the be forecast declining works improve and EBITDA costs fiscal XXXX. in demand to lean leverages in leadership range the to
Now in will beginning discuss on for let the Milacron's I business, which the the for outlook me we our the period on November own XX. results on I guidance. comment share when thoughts business
economy. in in global Although and In challenging automotive period Milacron. we the were end Milacron, were specific are below slowdown prior for reflecting China global the comparisons market financial weakness the the across the providing business, especially results year particular, not directionally for
and $XX.X Milacron million profit of with the segment $XXX gross segment adjusted or million quarter, the of XX.X% For was revenue revenue.
the XX shipments these driven of revenue every adjusted generated quarter days, third is XX.X% the During EBITDA timing by as of Milacron's best-performing typically mainly margin, month month. this
to longer continued are revenue as comparable closing. of last and two was corporate reported the its no and the On combined a Additionally, into well prior our Milacron's quarter, global on corporate Milacron costs weakness include way the results transaction target. basis, the publicly economy one achieving to quarter full we’ve functions to our in the the synergy
to X% orders the year. prior compared approximately Customer decreased
American quarter, which prior the million, XX% injection in regions, approximately intake increased the equipment. molding prior of XX% XX% business backlog North order Milacron's However, decreased $XXX between lower they year sequentially the driven to in to by total represents over X% historically from all our molding capital order injection due of backlog.
for a year-over-year, see decreased pipeline the we customer Despite of all Milacron product solid line. legacy projects
Additionally, that and the a as of in described of backlog. revenue portion as segment. as fluid quarter Milacron show aftermarket they which of ship the Milacron past, book portion our technologies within entire and well and legacy MDCS is APPT the never legacy on its the based consumables, orders majority revenue up segment the a included In
existing include our was total service, the quarter flat typically aligning Milacron Based aftermarket of comprises are capital and this retrofits to view, equipment. revenue to view for of aftermarket a we essentially rebuilds parts forward, Going on revenue about and revenue on year-over-year. Milacron and
debt down of Malterdingen, received molding to in of of we of are to XXXX December Proceeds in end were the used to and injection the able complete this the $XX prior were Germany. pay during quarter. in million the period, sale location Also former Milacron
first to in facing weakness key led the markets disappointing results quarter. prolonged some The end
business confident that we of our will Milacron is It business. short-term ability in resiliency underlies transformative confidence, acquisition that in this long-term that as and are However, value. drive the shareholder to belief very issues significantly the the Joe improve this our said, not
Let we well. us achieved costs. $X me is We achieve cost turn to quarter, the company reduction million which the synergies. that one specifically public year going integration position to of the of executed duplicate several process, actions synergies, from In
in to this savings, year. expect In indirect savings these to generate addition we procurement
year meeting We are our our commitment. to on exceeding or well way one
progress we While with updated progress year overall as our you will throughout date pleased make integration still and early, our the I’m to objective. to continue keep towards
In expected polyolefin systems, we the market year by summary, more industrial offset originally in partially businesses across Milacron had with started headwinds the the better we have than strength while Hillenbrand than faced legacy softness other businesses anticipated.
Our focus execution flawless generating now deliver synergies debt. capitalizing down overall in is to in plastics integration we've generated business on cash large driving to the results flow the on projects, targeted the pay Milacron momentum and strong
based our now for me our XX-month on to fiscal Milacron. updated period Let for is performance. for Milacron year. We'll provide how fiscal year The turn approximately this year-over-year our including annualized guidance to expectations color relates additional within the ownership forecast XXXX, on
businesses. with the Hillenbrand legacy start I'll
stronger X% Given Group growth and our headwind X% remains expectation our a performance growth expected systems in foreign continued continued QX volume of experiencing strength currency. other projects, by this reported Offsetting businesses additional pressure higher we and across for Process partially the revenue. X% by additional Therefore, at offset overall in the driven projects, with industrial to FX systems revenue large expect Equipment large the impact volume, an to we the than are our full-year. in growth for
are of Based high-end synergies, is year-over-year of higher and our the productivity to representing XX margin This we EBITDA made expansion. basis points. on guidance XX points XX.X%, XX progress at approximately volume original of initiatives, on our of full-year the adjusted targeting basis including
X% margin X% We improvement decline expectations XX% a expected down EBITDA for to to the revenue Batesville the volume. full-year in with adjusted maintain burial and remain to consistent in forecast margin anticipate sequential quarter XX%. be with annual Our forecasted unchanged second for of
to million ownership. anticipate a macro acquisition range $XXX to of the Milacron margin of continue XX.X% with Milacron the Moving revenue environment. We challenging see XX adjusted add million XX.X% the business, to the EBITDA in an $XXX we of to months in to
automotive pro a softness X% to meaningful in our weakness due China expected including forma year. is with and anticipated basis, be year revenue to no annualized On markets, approximately X% in fiscal to continued year-over-year fiscal industrial in down recovery end
we with but difficult It's severity these expect recovery and As leading are economic brands the businesses. end markets and of experience improve technologies Hillenbrand these a good short-term, Milacron and the cycles with of serving We’ve economic operating long-term prospects. businesses improve, business. conditions to the attractive model implementation strong see across the to growth in profitability a predict various through these with in timing management through team strong managing the opportunity significant cycles
for of projection XX% for be impact we Milacron. reduction share year, and For per $X.XX to $X.XX, interest earnings earnings our in approximately $X.XX $X.XX the accretion to of to charges to earnings $X.XXof We're XX%, to including expect This adjusted depreciation earnings fiscal year-over-year noncash cash share acquisition range to per the share $X.XX range updating compared previously. cash $X.XX of fiscal from adjusted expense. to is deal-related amortization due to $X.XX the of primarily our representing in and per of XXXX to a adjusted growth
to outlook, these consider We'll ongoing we elections as factors we integrate the macroeconomic than and Milacron the closely. range around and monitoring the it's and Additionally, we global typically uncertainty feel widen be the U.S would prudent lower more coronavirus. trade,
in Our end but year. second year. recovery have plastics the projects later projections of industrial stabilization a line large assumptions limited that fiscal half on are for of in includes the markets with that trend, economic downward of the based good sight faced scheduled We’ve recently
other industrial visibility we’ve with less businesses faster Milacron. capital However, sales, turning into including
quarter as strongest the result to [ph]. expect as seasonal We a second Batesville flu a trend quarter follow of its
quarterly expense significantly expected second Milacron quarter earnings quarter Although quarter fiscal per first our acquisition. be want corporate that to incremental I to give of do including to practice than our out is interest from to full the share it's adjusted point due guidance, lower not a expenses, our
estimate impact contribute share the also decline. of per the quarter the for adjusted We and earnings coronavirus to $X.XX softness range the to the approximately market $X.XX. will second to be sequential continued addition, In
priority Cash year. remains our flow goal We to greater generation of still million post related total meeting our of remains by of for and CapEx than free our net a costs of income acquisition $XX debt approximately leverage cash revenue to and $XX net approximately anticipate with XX fiscal X% top commitment and million to X.XX months close. integration the deliver EBITDA
Our approximately adjusted effective to rate XX%. be tax to is forecasted XX%
Let me integration conclude the with process.
we reminder, of a run cost rate synergies by million $XX million $XX committed to X within XX months As to of post years cost and million synergies $XX rate run close.
synergy in expect now early majority the target million fiscal success to million of to Given the executing we our XXXX. within plans, realize the $XX $XX
savings drivers businesses. centers corporate primary our indirect year the public as through company the as of the the opportunities spend well one integration The of costs the are across reduction of
synergy we model targets the well. Hillenbrand term As around the as cost institute to deploy longer ability globally, practices to in best exceed our operating we're the company confident
not the material excited target. synergies, equipment drive to opportunity leveraging penetrate revenue of in further aftermarket, service our We're and footprint our are about which and cross-selling also handling extrusion current to included including the global
service significantly As margin a from the more business, of XX% division. and parts implementation capital than to initiatives, We high of grew you the by expanding single including the establishment through business the margin digits profile mid-teens improved may return. dedicated numerous strategic the EBITDA Coperion improved of working and recall, we
XX innovation date capital our the factories, in for all overall pleased with working clear operational business opportunity to and integration to we I’m toolkit. Milacron across management excited see improve the the businesses owned the only and weeks, drive ahead. about opportunities progress we’ve leverage efficiencies our While
time, will back this turn call concluding for remarks. his the Joe I to At
