the EPS strength primary operating and Thank flow We productivity better strong morning, leverage. strong orders net backlog you, to growth by volume, expectations. strong with our compared increased FX-neutral operating across driven everyone. XX% price last sales notably up core Adjusted core X% with and year, indicators in delivered expected, also Max, particularly technologies. XX% businesses process both X% adjusted and profit at core drove also up with good than and were quarter Leading beat core
only differentiated to XXXX excitement several my done and I P&L. each in with classic accelerating done have Aspen. I inches. second over outlook as we've off special drama, our and opportunity Jeff second XXXX quarters quarter, focus at release X our how But quarter according come the comments of shared Harry strong reflecting execution. comment slide our as compare segment in we will for for press I and overall then our items, Crane on will Getting presentation, the ahead excluding that of outlined details, Dumb the to into Another map, head far Crane. words over the will emotional XXXX, start as Daniels, on our Dumber, last to excitement lot A with the for of and growth the Hey, and we wise core along from consistently
Starting expectations. relative end with headlines, Electronics. material to & the in no to our expectations, change again, material Despite our Aerospace the relative conditions market change no
On commercial resulting very the more aircraft limitations and retirements due remained aftermarket low from that of service. to side deliveries high fleet an parts aging aircraft business, demand on requires the and
a to was a Vian strong increasing growth demand defense from XX% growth uncertainty our the with On the million, and today. see broader on sales quarter industrial global heightened reflected side, focus spending acquisition. continuing solid to the procurement given of X% last Overall, demand compared reinforcing we year continued continue XX% environment. in and That rates base with $XXX solid defense a just second core benefit
XX% of of and XXX from sales the aftermarket quarter, points including acquisition. segment XX% commercial $XXX XX% from increased reflecting aftermarket up XX.X% XX% X%. level up In year, growth, growth XX.X% our X% backlog high FX-neutral continued million total XX% and increased commercial contribution of backlog growth the increased increased with core quarter up aftermarket the in military X% margins year-over-year, OEM Sequentially, primarily military. and last even sales, record Viant in in the core higher the volumes up XX% sales with and XX%. productivity. Adjusted increased further, sales Despite basis
year at XX% Looking of XXXX, remainder guidance from core acquisition. the sales full sales with in favorable the maintaining X.X% for benefit to addition growth are to a ahead we our Vian the
guidance comparisons That half. QX, consistent continued at challenging with the assumes more second a levels, the decelerating albeit in strong rate as year-over-year are sales growth
growth core May in in While rate event, create by the Investor continued growth rates, for noise for we quarterly followed as comparisons XX% Day outlined year's to this expect our this some can of growth be and we decade. remainder sales on XXXX strong
second moderation prior to as leverage, half, assume Vian however, driven in a year OE half of guidance Margin don't it our are, outstanding the our reflects in We basis in raising does That points mix, XX full margin XX%, prior year. and which core view. than XX.X%, just favorable a as rates overall was guidance slightly continue will primarily deliveries margin the we from up about be expect first another increase. for track little guidance as to quite excluding higher on by
remain little has the At market outgrow it more we Process markets Technologies, a and to well continue quarters. positioned over Flow our now been outlook last is than our several positive to
continue we projects, in While chemical in industrial particularly this and see we markets, China general to see continued chemical, continue. North the and in trend some we softness expect European to America strength and
strong million, we quarter our reflect in performance, sales year better-than-expected are orders X% sales unfavorable up the CryoWorks benefit backlog slight offset strength along and of In acquisitions a we the by with itself, $XXX core of exchange in we and with a the Given from margin to the growth Vian improved raising X% our the quarter, driven XX% the and saw. for sales delivered from foreign guidance year-to-date.
points expected our the Adjusted Compared higher FX-neutral X%, by strong quarter. backlog quarter, XX leverage core better and orders primarily acquisitions. net driven of both of by backlog increased expanded in North recent X% China. offset basis strong with strong down price year, by in increased operating core core FX-neutral to productivity, followed we orders project with markets, volumes first decreased impact expected the driven core prior X% the by XX.X% FX-neutral mainly XX%, Sequentially, booked FX-neutral dilutive margins and American orders reflecting than operating the the
from order now up strength. of for which be X% prior X% prior sales full in our view now to year the results up X% and to expect our year-to-date our We coming operations, growth with core are view guidance Turning Process our continued Technologies. Flow from approximately XXXX increase expectation reflecting growth expected of versus XX%, again,
quarter, CryoWorks, rate. acquisitions, As growth to we about last add Baum points X discussed will year and including our full both
the We sales year for considering full from up guidance to are prior also outlook. raising revised our XX.X%, guidance basis points margin our XX
For in margins Technologies were XXXX, Process XX.X%. context, just COVID, Flow at that remember before
margins, this a which of is reflective to step structurally to before, noted growth end we markets. As the in is higher-margin shift our significant business function change higher efforts and
continued appropriately introductions both the is accretive contribution see new inflationary on this assertive our differentiation to and productivity. opportunity the investments journey given product continue We through that from in product pricing disciplined continued technology-driven and environment,
strongest From a second Margins cadence the of on profit quarter fourth sales similar $XX to perspective, to little we still the year. softer. margin points year half compared a expect should third very quarter year XXX decreased to in seasonally And be sales be decreased of of volumes. first the Operating with lower Materials XX.X% last the to X% for Engineered million half the as expected. basis the
to be For year, the XXXX. and compared full both to continue to margins sales we expect flat
company year. results. flow the roughly million, free in last $XX was line total to cash In adjusted with on Moving second quarter,
cash low full free now of $X $XXX $XXX the range range. we year, compared prior to in million flow For end to our at the up million, million the expect
conversion We expect continue than free to greater of XX%. cash
in $X have M&A debt at we million and to capacity than billion of the much of end XXXX. hand, cash continue million with $X reaching approximately quarter Total $XXX flexibility the more as financial billion first $XXX substantial was with today as on by
our is flexibility allocation While is unchanged. financial we strategy this historically have more than had, capital
that we followed and shareholders. growth, returns prioritizing M&A deploy will employed, strict strategic financial with to the always investments internal and by capital We same our have discipline for
guidance. Now our turning XXXX to
$X.XX guidance X% midpoint. up acquisitions. Guidance of X a which year of to prior benefit guidance to assumes by due of Process total point to outperformance Technologies range the As raising Max $X.XX EPS outlook Flow to X%, growth midpoint we narrowed the XX% our a $X.XX, of core reflects growth our mentioned, and and full from are the at our X% from
That growth. adjusted growth Xx profit growth drive the in XX% sales X% segment to about operating approximately core X% core will
million, for to roughly by did date $XX million impact outlook performance million, our and Turning we expense higher year primarily was guidance this our at compensation than of rate reflecting guidance $X we expense full expense tax take ready offset excellent a now are to nonoperating by lower and second to to guidance the expectation $X lower slightly elements XX% enter very raise given net corporate prior we a guidance, now the million other $XX but Operator, to and lower strong our half prior XX.X%. first our Overall, for first question. as compared of momentum half. with