strength XX% and Thank by good morning. was organic you, growth of Technologies primarily auto. driven Luca QX revenue in Motion
As you the last due quarter was to know, year significantly pandemic. the down second of
to rail, impact costs continue due and XX.X%, material steel, this XXX offset higher versus outperform of was MTs auto growth XX% X%. strong combination with and This well quarter from in global mainly a a expanded tin an orders margin raw by production OE both prior was quarter in MT gain standpoint, margin. share. wide of time very by auto year volumes performed the XXXX higher the to reason, to And The revenue business to by continues performance. plus our eclipsed levels of Friction copper. basis Segment points pre-COVID a on where key for productivity very However, operating we second and
Margins America sealings, organically. KONI incremental indicated quarter, margins the given and sales increasing shims XX% in was MTs driven of we all KONI, in As almost growth the last in by while declined sequentially OE Europe double-digits by spite and commodities these North year, pressure, and headwinds, in were over however, second delivered grew margin MT quarter. in the double-digits Axton in Wolverine, XX% Wolverine
growth shipments, For which steep process this This up industrial XX% quarter. organically. project by was comparison, partially was resulted revenue easy over X% driven revenue in in stemming declines prior from
We also shortage. saw minor service pumps the lower materials and sales due in driven by short-cycle declines to growth flat baseline
to indicated, across the IP, have given end-market chemical was short-cycle an perspective, industrial, we trends expect oil across general we half. see and growth gas As and in continue the the From businesses order second accelerate to we spread market.
IP orders, XX% grew parts, the valve organically to and namely to short-cycle, and X% Turning sequentially service. due
positions basis an XX%. mix impacted incremental well of sales. points proportion Our margin the was strong was quarter, levels. project given in baseline daily month be into orders order our June to for margin believe IPs the largest these us This higher above product of XXX all XXXX. of to except project XXXX with pumps remainder by of XX.X% short-cycle of XXXX. month partially were expanded the the rates versus continue unfavorable third categories, orders We since And
short-cycle here recover. continues the mix to as expect from to We improve
corner connecting of leverage declines in continued quarter. despite was the XX% of and incremental productivity, this technologies, with to and Lastly, aerospace. volume, inflationary continued margins in turned result commercial we This headwinds strong control
North driven position and which above XX% with our to aero continues orders growth demand While key to American rest The and aftermarket. will recovery heading into a strength platforms, production incredibly improve strong, well which X levels ITT by backlog in XXXX, until significant again compared up OE components delay our OE Similar was continued inventory year-end XXXX. connected and largest XXXX. through to of was growth was book-to-bill on and in elevated the largely us aerospace aerospace business distribution managing customers,
a Before just comments we few on on the quarter. additional EPS for move
a outlook CARES effective $X.XX walk As see consistent roughly adjusted impacted EPS credits. negatively offsetting Partially can XX. benefit and QX a currency Act comparisons related you were plan benefits items prior Slide the to environmental The our on than on cost benefit rate from XX.X%. lower a foreign year-over-year these tax roughly by with temporary from was $X.XX and actions of
to and has $XXX related further. X, and At Pincus. equity assets X, cash cash in its Slide holds to Warburg our $XX XXX% to closing, in discuss ITT Delticus contributed portfolio contributed sell Delticus of asbestos InTelCo. liabilities million that liabilities, turn a company ITT subsidiary of a Let's divested asbestos On July of insurance legacy to million
as to from over the As cash generation of insurance flow asbestos ITT all the result on payments for asbestos this million related tax previously of removed next per all legacy prior in balance estimated consolidated a and asbestos liabilities, indemnification average the free quarter. include and the related we stronger absence second deferred our XX of that obligations, $XX at assets the benefits assets to sheet years $XX year million divestiture. transaction, associated of The transaction
balance a focus Additionally, grow and risk other and sheet, successful of in to up liabilities. including the are pension executed uncertainty initiatives, executing plans and fees the to and well these legacy business the with more flexible transaction transfer October core M&A. positioned our on ESG resources management strategic more managing with Coupled XXXX,we and growing time U.S. without
to end and to to our outlook. Let’s updates our markets X now Slide discuss year the full turn
recover we're adjust global EPS albeit weigh by of As auto connectors, low. results, Frictions which while raw to the will continue XXXX, orders we industrial remain in causing to which and run will on projects, range project we half. new throughout material not during growth until gas short-cycle. organic in shortage, And meantime, saw XXXX. revenue particularly our production in increasing, year. semiconductor oil global momentum to seeing is spend margins continued in we drive inventory will we're expect believe second XX% the IP impact On constrained the however, prices a businesses growth expect process is X% large short-cycle the strong will The levels the demand rates mainly in higher In of weekly in and and seeing is remain we for the fully in to
that early a is commercial recovery occur regarding not assumption will Our aerospace XXXX. substantial until
inventory largest level our of OE the at customers. Given
see to However, as orders we increase. in levels signs encouraging continue production
we Our pronounced At from inflation, margin a at technologies. outlook mainly emotion segment raw remains midpoint, impact for the XX.X%. expect approximately adjusted material
productivity our planning We're and commercial at are additional these XXXX. However, remain the materials minimize to driving to teams actions raw elevated levels impact. for throughout
see $X.XX Slide they impact will remainder guidance you be revised the trend at from the our X, on end incremental As will for the assume XXXX. this high of
all Our slightly guidance high EPS, items previous full reflects at year effective The our EPS adjusted revised levels of and XXXX net range, tax a $X.XX roughly adjusted impact the eclipsing including lower rate. benefit $X.XX our a improvement midpoint is than of other planned end. to
items other our guidance. given continue to will to expect in the compared reduction to-date. benefit previous repurchases count, a currency share we and a be And average X% Foreign minor our share weighted
experiencing In raising $X across given range expect Additionally, and the we now higher margin to share. guidance levels at raise, XXXX capital free future offset cash in we operating per our supply and by adjusted adjusted of the free we're by chain today. and to we further growth, are our the of flow to for the investments end -- support earnings terms flow. adjusted And disruptions eclipse especially segment high are cash further low with in working half raising first again, previous outlook million self-earnings our to summary, income generated XXXX this reflect
our look Let's quickly to the guidance. revised components adjusted turn XXXX To of EPS at Slide X.
rather will raw offset in in headwinds we immaterial. The which As the operational adjusted discussed. have rising nature. higher incremental see, you the per are changes already from can The earnings volumes cost, partially likely to share material by majority improvement is of outlook remaining be
market to details the what the in quarter. want turn far on share third end saw seeing it the we're thus trends I in some From Before we an I perspective, Luca, to back have Auto quarter consistent self to margin remained the largely short-cycle and remains perspective. in path businesses recovery to both from throughout And continue well. comfortably IP CCT over a second and perform July. on
the our not CCT is With on impact range, portfolio, headwinds margin will year sequentially strong material growth the MTs strong related that, hand, sales in approximately negative followed flat let expect by approximately full productivity in any segment reflects industrial Segment remarks. single-digit short-cycle. On This closing QX, Organic we for margin impact in for and XXXX. to all improvements the by be driven MT. improve we significant year the even high did largely chain. the prior basis sales The IP the margin be per growth should higher be adjusted margin by led increased improvements by and combined across should will Luca pass performance. organic up to to back outlook offset margin expected ITTs it by commodity the still see primarily near-term and other will three with above to businesses be driven XXX growth points in the mid-teens raw QX challenges in drive for and me pressure, MTs supply growth of and to we over process. anticipate both to earnings CCT mid-teens. Despite low share eclipse which to
