Joe Thanks everyone. good morning and
additional capacity, of company Joe key acceleration of million. benefit with the The fire the a $XXX will M&A and IT us We'll cash $XXX of as bringing proceed after-tax flow deployed result have the divestiture. As for platform. power replacing of an million the an growth. provide invest $XXX million mentioned, A those provides of the rebranding proceeds the port net is to total be ultimately estimated of that proceeds will us transaction capacity approximately our our balance to the to with of
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as with track the the our pack learnings future core this combined in Joe building area, activity confident record know, approaching divestiture, partnerships we we're for may team we're pursue. right from we're and skills and how you or external M&A that that so strong As a S&IP
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tax effective our impacts divestiture the rate. Additionally,
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This in how to since more our just an efficient We find complex operate business transaction spin-off. annual a and of is opportunities effort have we have will demonstrated tax we tax lot as our work to structure the make the work do. to savings we and
ability this for confident the Halyard we However, is right and are in deal to execute. our
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will the XXXX. once in provide update of you an first plans quarter We transformation finalized with our are
which devices team medical sales to Sales result, by selling report turn our offset pain XXXX million we of continued health X%. EPS were delivered by prices increased solid our converting adjusted in X% that down a earnings. another respiratory delivered in contract X% sales this growth. volume to increased I'm saw are interventional pain pleased and as $XXX diluted quarter to Now, quarter a our partially demand for another surgical strong perspective, third raising solid a quarter oral new GPO From quarter segment worked we as on and We care. and let's outlook. driven growth
margin Adjusted signs quarter flat to price competitive S&IP, petrochemical loss showing plants cost to the was several shutdown experienced due were XX% as for elevated Turning gross quarter, year. the is expectations. business end market in the remained polypropylene as encouraging at late Hurricane prior the compared low We Harvey. to but our was of the
As quarter, quarter, remain anticipate from major performance we cost enter benefited will for factors. two We share adjusted the earnings reported elevated. the per we diluted fourth $X.XX
were executing divestiture on S&IP the focused of the business. quarter, multiple during First, the teams
we in investment of focus As in areas transaction. such corporate SG&A the IT some efforts delayed and as the strategy, a result, our timing order on finance to
marketing Additionally, future we to to in of vacancies minimize outside synergies. and areas held sales, open R&D
planning, was tax Second, as our the XX.X% adjusted of a for ongoing result effective quarter. tax rate
XX% to we and adjusted year, now be the the tax For XX%. anticipate between rate
we delayed for projects to our expected teams as our by in SG&A increase corporate divestiture. the also Looking franchise functions ahead, capabilities. for SG&A investment investment on focus implement is accelerated anticipate we within growth
the or was for capital flow, This million in million working sheet $X fewer efficiencies Cash with turn capital ended impacted expenditures. we quarter. to higher cash growth let's Now, expenditures our free where balance capital continued seen cash. operating $XXX activities We from strength. and the totaled by less
approximately planning than and this assumptions This For strong free our summary, previous third in thoughts. quarter of we four and are factors million $X.XX which solid trends driven levels to Based initially back the into we affect divestiture estimate build our $XX well I could related Joe year, earnings current feasibility flow. performance that adjusted are inventory the in we performance, detailed in his to now result Joe highlighted are In another outlook a expect to is quarter be our to updating now also morning's on Shipping continue key medical release. from where With we cash positioned expenditures to generate to cash our S&IP and higher expect to previously, we by diluted $X.XX. as devices planned. on EPS that, our final momentum. it will turn for XXXX reduction delivered between
