X.X%. on of XX.X% decrease Changes first a first $XXX.X by in Key quarter you, of currency Thank million, for slide Jeff. from as highlights XX XXXX. shown the decreased revenue the of foreign include, revenues quarter
of largely organic XX.X% impact impact of pandemic. the currency, the revenue foreign to Excluding COVID-XX declined the due
operating quarter altogether income of align declining $XXX.X ability restrictions, manufacturing market million, our elevated from demand. lower to the revenues, limited significantly first to to end cost local costs which and to capacity, at of employees, Adjusted XXXX, headwinds facilities safeguard was lower running due to decrease a XX.X% our our our compared government productivity the primarily
development retain megatrend to costs Higher as talent design growth new offset programs, compensation mostly and and well spend year. wins savings actions business taken were on Sensata from repositioning last top execute by as higher
adjusted better income $X.XX XX.X%, of slightly first first quarter XXXX. net compared EPS compared decrease than income, the prior a decline of of was Adjusted to was quarter, decrease repurchases. a Adjusted the share to $XX.X quarter in the XX.X% million, benefit the year and net in of
to performance on in the decrease of Performance to slide XX. first our quarter of revenue last with XX.X% I’d of the I reported a two business Performance $XXX.X quarter quarter XXXX, Now first segments of compared comment sensing in start year. will million the Sensing the on same like XXXX. of business
negative revenue Sensing the foreign decline of organic X.X%, from Performance XX.X%. currency Excluding impact an of reported
Automotive organic by reported, XX.X% end in the revenue its decline but an business XXX Our first market outpaced basis quarter, of points.
regions. major In addition, each in organic declined of geographic our three revenue
content primarily, road business points, decline of market on regulations. the driven XX.X% the truck but Our to adoption end revenue outpaced and sharp quarter, HVOR its China emission our growth by an XXX reported by first of due NSX organic basis in business
a quarter, XXXX, last same Performance was a as of XX of profit revenue quarter points of to XX.X% last compared Sensing the operating the percent quarter $XXX.X first Performance in XX.X%, the decline same in as Sensing was of income million for a basis the first quarter year. year. decrease
savings megatrend segment wins was by and to operating and The revenues, decline offset operating lower year. capacity and in actions business new significantly manufacturing in facilities somewhat income driven execute our by growth repositioning programs higher lower development primarily last design effort taken
quarter a Sensing compared first quarter of XXXX, to shown million decrease XX.X% XX, As the year. revenues in the of slide same on Solutions of reported as $XXX.X last
negative Sensing the X.X%, XX.X%. impact of declined currency Excluding organic from Solutions foreign revenue
industrial producing delays XXX growth in organically markets above Revenue our our in in end as aerospace declined market, organically in quarter, in business X% XX%. and first quarter, declined a declined Revenue declined business XX.X% basis production the end which first aftermarket. its OEM points of weaker the X.X%, industrial
income decrease XX.X% percentage first points for in quarter, of of quarter Sensing as in the of $XX.X quarter a a the Sensing of was million Solutions the profit, last same year. was operating revenue XXX XX.X% last quarter first the decline Solutions from basis XXXX, a year. same
unfavorable mix restructuring taken and primarily revenues, was The significantly due decline to by operating segment from savings facilities manufacturing at operating last capacity offset year. somewhat actions lower lower in product income
costs in related judgment, income XXXX, a $XX.X appeal. segment not operating intend which includes the $XX.X we first Corporate litigation an of intellectual and million loss were included quarter to in which other property million to
to Higher same compensation to costs as our other to retain corporate the compared quarter costs, the and attributed expenses down, last top higher higher year. and and administrative set
costs to back non-GAAP Excluding results. due $XX.X higher an added administrative quarter Corporate first primarily year, the in quarter were XXXX, our in XX compensation million in same and of last costs. other million, charges increase the to of
basis GAAP gross XX.X%, profit same XXX quarter year Slide XX to results. to as to million. XX.X%. $XXX.X Adjusted first shows The compared points quarter declined last Sensata’s gross the margins XXXX declined
gross at ability align were primarily our running limited in employees, to to cost demand. margin cost and profit government decline due our to our restrictions, safeguard lower productivity from capacity, and manufacturing significantly headwinds revenues, decline facilities elevated to which in local lower altogether The market our
electrification. megatrend increase areas We wins development execute design growth and with new to programs, smart spend primarily business continue connected, to on and
actions investment, as in to savings rates. changes due R&D were foreign exchange to from down and costs the Despite the same X.X%, repositioning higher year, last compared quarter favorable
million, to the compensation $X.X increase. talent the Higher quarter costs, the retain increase last primary or a or incentive in year, was X.X% to compared SG&A top same driver of as
income prior down As quarter. to XX.X% result a operating adjusted compared year the was
as $X.XX first the increased EPS compared a prior rate adjusted to tax Our tax XX.X% to of profit finally as points, adjusted basis was present the $X.XX before And XXX primarily year, due compared down or jurisdictional XXXX. profit to mix. quarter,
types we are during revenue. relative portion XX, of a that slide The majority cost financial On provide in nature. productivity rate continuous and for of improvements. reduced up span, our costs our These the product XXXX and direct The material make scale is costs data, breakdown structure their variable net and sized purchases power with of cost largest by to types through which are revenue operating and supplies. labor directly wages, design
some variable as These and the revenue operating specific outcome. items utilities. management to enterprise but drive costs salaries extent leases services Private and action of primarily with in comprised nature, indirect and systems. more Some costs, to and include costs outside spend, this of These such to depreciation, are are facility our and support licensing structural related more costs scale benefits. require
protect the our higher rapid quarter XXXX, and the from employees. we normal, actions margins and decremental the In manage COVID-XX ability to than restricted costs first our to our our decline align saw operation to of our and pandemic demand limited as
direct us disrupted. Moreover, and despite locations, supply costs government dramatically to closures freight were pay required as chains mandates in labor to our certain continue logistics increased plant
our anticipated We’ve quarter of actions the revenue. lower costs number to taken second the into given strong reduce a going
the with XX% and employee regional furloughs base labor across indirect quarter have achieve reduced For to population. our country-specific for savings across implemented a similar and line example, managers we as in by roles during the salaries Jeff mentioned,
examining they We are prioritized also operating are ensure closely appropriately. all our of to costs
to We actions $XX savings expect quarter. these in million to cost million generate second during approximately the $XX
and expense, note It’s as operating total depreciation X% such to compensation. costs amortization of also important that expense non-cash, approximately are our equity
while actively we we’re short, we to invest facing all the to in structure of impact continuing our for value manage of the and stakeholders. are challenges our and and declines business the future, anticipating, to our managing cost create In increasing and experiencing operating end-market our people, are
net X.X ability X.X steadily manage sheet. its $X.X generation XXXX reflecting down Slide and down and effective our strong to revolving net at of XX balance which from deployment. times declined today, demonstrates the billion on end capital leverage the drawn has leverage Sensata’s Having ratio, from to line we on $XXX quarter second our cash of with credit million X, the enter April in cash
our when to of and unsecured position and our buffer not the liquidity to covenants maturity becomes XXXX are market until substantial we through our the leveraged is $XXX note outstanding adapt have debt and We first confident to debt million Consequently manage and due. agreements, environment. our current our the ability about October
was quarter first or flow of of XX% the adjusted net which is last to income year. same quarter the XX% cash net Free adjusted in when improvement income, $XX compared dramatic million a during of XXXX
million $XXX for to reducing by are XXXX our financial the We capital to improve to $XXX year flexibility. expenditures $XX million full further million
As announced our uncertain COVID-XX guidance with we earlier our the remains year month, of negative this the a changing on full impact highly pandemic unpredictable. and as business withdrawn have
first XXXX revenue be current of XXXX. the However, quarter down of of quarter demand, in second indicators for will based on likely the significantly
our future they that On future slide global products decline solutions. is automotive a automotive full second XX% for primary in and I assess for decline the on production source number quarter are of our to help we show XX, production. Currently year. and track demand for information a XX% economic predicting indicators IHS the
get communicate in auto our customers North view market. demand and with on closures plant the future to expectations, week America our of which In influenced production addition, Each of we routinely track alignment strongly automotive million approximately has revenue to four five Sensata. estimate regions in down these to that weeks. production shut for $XX average line an worth We OEMs the second during will of quarter, auto and automotive Europe in their
heavy off-road to business, our LMC help use production vehicle and as future levels. us third-party forecasts various such from For we firms production understand
quarter, LMC is projecting rates. decline For second North A XX% the production in a Class America
serve, economic machinery, correlated for products. to we our markets form include industrial to are the HVR load view them demand evaluate factors, customers from and also inventory farm the and the of which gauge These statements indicators they strongly our freight and HVR believe customers health sales market. to We ratios, and indicators our our also features, ag construction in production, helped sectors, public permits, building crop of the large and
our industrial For in starts, regional revenue. evaluate we a PMI industrial business, for housing historical demand strong and correlation develop data GDP given there’s forecast our view with forward-looking industrial and
expectations and for future defense our are of OEM passenger good flown and indicators aerospace, aerospace miles for products commercial services. For future demand aftermarket and production
lower In and and relating $XX production by revenue February, our operating expect of we XXXX. $XX million approximately will to by lower profit a the quarter in COVID-XX million demand our first
estimates experienced as predicted to a revenue both and twice in we Those of worldwide. as operating we what COVID-XX drop profit spread roughly proved of insufficient be
that needs levels of coming serve the efforts Until to and over to align a quarters, sense anticipate other demand good our our it to ensuring costs, develop our profit, able that we customers. the With employees to metrics. we difficult have we will of continue revenue, and for our are protect is to while operating future said, levels project normalize accurately we financial demand,
we operating comments are in times. Jeff’s echo unprecedented that I’ll closing, In
have has fortunate and this organization, that our to meet crisis we as We’re employees the challenges that are presented. an healthy risen
financial from financial currently emerges of guidance a all are provide we While working for to we comprehensive more time the XXXX, position. cannot this in stronger diligently Sensata ensure remainder
Jeff I’ll turn remarks. for summary to call the back
