you, Jim, Thank and everyone. good morning,
totaled will strategy through and walk X% year, driven and our from full execute in results our price reported by results starting updated as we outlook today Sales before record Industries with quarter, a and use to drive $XX.X first up billion both quarter strong an year. volume to last operating continue for have with We particular. for growth. realization to X execution the turning I Resource Slide model the first profitable our having revenues quarter gains the
manufacturing first per higher quarter This tax First SG&A $X.XX and driven increased increased profit due a the R&D on $X.XX year. the quarter offset investments of prior by higher XX% benefit, sales, from costs included first of higher year's share last spending per by to versus quarter. partly is share and discrete
line the and Construction Volume original price gains, partially Resource by was Industries primarily to demand quarter Industries currency. growth driven by in reflected Resource strong volume and in and let's was Sales Now realization, in top X. services. to Slide growth Industries. turn offset from equipment both revenue gains on demand and due
were North For the this construction flat versus quarter. & industry rose principally and dollar pressures year. against euro, sales strengthening, Transportation prior reflected plan. the Chinese the Australian Currency in sales dollar primary Energy America double-digits
operating X, you will I If changes to walk Slide profit. in through move the
million $XXX to and tariffs million variable July tariff material freight from profits operating and costs, started increased quarter. $XX material first realization in line shown added As million labor. fourth a while in higher Manufacturing unfavorable, increase drovethe were what million of only also direct with chart, expected. These $XXX price quarter expense quarter the of about the included higher costs Financial on contributing to levels, profit the $XXX we and due sales million the improved Remember by $XX last Products operating in for year. costs costs, volumes respectively.
some are incentive items. are have about an also have year. areas so in their impacted million. production by and despite The were while the we're R&D across. expense, suppliers low-level to last a have increased spend lower moderated, bottlenecks and in of as against spending Also investments QX our until implementation in Labor costs levels QX QX was competitors will material well the services Restructuring steel by prices rising not these quarter. including still level unfavorable Currency of ramp effect impact continue SG&A short-term primarily corporate costs contracts due So volumes. procurement are growth up for original expanded $XX these set as date. offerings, and compensation passed as after to light
million on each the performance Latin X. an to for Asia-Pacific, Slide activities. road with demand increase by QX increased and Construction sales Industries were Now, in let’s X%. North construction equipment, look new America billion, $XXX segment beginning $X.X $XXX particularly Sales for Construction EAME declined of Sales in in of higher due or million at America.
million sales were as to partly euro in was flat, offset $XX about what which Pacific down favorable China increase due EAME, dealer by smaller realization. or volumes In X% the driver $XX by the Currency inventories is in expected. we Asia or weaker and price was sales X% declined million.
America million low in $XX factors Latin contributed economic in to X% sales decline very macro a off a of or Lastly base.
by led Turning Construction higher margin on segment is costs. realization The XX.X% material XXX cost X%, more profit segment basis price manufacturing high Industries favorable decrease of profit from quarter of the points This than to was costs. of higher offset in of XXXX. was the first increase declined profit labor by freight a impact by
While as backlog moment quarter these Construction less rates. increase the saw by increase, was the we ago. the same on factors higher for mentioned orders Industries magnitude rose The costs fourth driven was and levels in production supported an a are
We continue from products to have free managed most line distribution.
Industries aggregate. Slide heavy Resource demand, the favorable XX% including of of billion, quarter $XXX the to reflected from Industries. look X, utilization price construction in solid demand The increase sales Resource go and saw We were mining XXXX. let's increased equipment sales $X.X quarter Now and at and first up quarry million equipment, services. from high
dealer particularly XX%. strong continue increased or declined production, up Industries inventories. to about ramp in $XXX backlog million Resource resulted factories as was which our sales in Asia-Pacific up with The
QX in quarter than First were orders higher XXXX.
XX%, continue new and as first Resource expect XXXX. margin equipment year. million, manufacturing sales lean Segment price to this Industries warranty sales of profit to XXXX, increased improved money in expansion well We in expect $XXX slightly material primarily Favorable including of Segment realization higher improved up in was rose versus profit year. quarter last about higher offset to costs and us was XXX costs to XX% by higher as points basis volumes. expense. due partially performance margins higher higher fright CapEx
to with to to year. X%, last and million Transportation by gained will were acquisition of million the reciprocating XX sales to profit about Transportation & decline sales the demand margin segment and one-year two currency comparable delivers by applications. in more the price partially results. reflect due engine same higher billion sheet. or of driven January America. were Jim due North in earlier. gas for in marked offset EMEA. & million review was increase manufacturing The drove Transportation XX, Energy offset quarter which due will warrantee first similar gas Energy oil than Turning $XX Industrial diesel Energy costs we quarter Favorable recently to $XX Transportation contracted driven & Segment to in and softness primarily in ENG were $X.X in X%, $XXX, related Transportation backlog sales oil Sales X%. applications decreased & sales last down offset power rail in volumes increase into or by unfavorable year's XX%. realization quarter X%. Slide generation by to more an and project by We turbines, was in XXXX. rail referred by Sales internal to higher America for anniversary or basis margins points higher freight rose timing engines The large $XX specific costs North services that expense. businesses Energy first and than by service profit by
outlook. I XXXX and through XX, Now assumptions the will walk let's to for our go Slide
for $XX.XX reflects to tax per a $XX.XX. The share from our range earlier. range now to is $XX.XX item change discrete profit of prior outlook $XX.XX Our mentioned XXXX
largely with the business assumptions Our loss unchanged. were
fundamental competence diverse continue modestly to to We have this in markets we our expect end increase and of the year. sales
We realization of about to billion This a year. be We the makes the the tailwind manufacturing also of million project to to discrete called types for costs, the costs will anticipate we unchanged full XX% higher see $X.X million. short-term at for $XXX range is out. $XXX is offset tax We $XXX annual compensation $X.X item of restructuring in incentive expected expenditures about billion. million capital rate price except
unchanged. the environment macroeconomic is assumes largely geopolitical that outlook Our
the in of in quarter, long-term ahead second of for customers to on in to from of assessment anticipate we markets variable year, including We and the Depending half the including continue stronger of oil demand strategy, value. America. gas on from enterprise additional profitable stronger North better and our internal growth margins expect based terms the was investments appropriate. execution back Looking results
make XXXX. in We repurchases pension the priorities. cash in allocation with $X the of expect expect to capital last second to will alignment share be contributions of any pension our additional we made We active description company contribution billion in the and stock third upon repurchase another depend quarter year. and market the not do due $XXX million additional quarter Any to voluntary generation
first per last So was XX let’s of and recap the following finally record today’s to It year. quarter share turn results. profit a record Slide first quarter
to updated in our We have $XX.XX $XX.XX guidance to share. profit per
profile from for the to financial back to that, call. return portion it shareholders strong our executing and the term while that question-and-answer to were Given to $X.X I able quarter, cater will strategy With begin we long billion the investing hand operator profitable of growth.
