good everyone. and Max you, Thank morning,
As special usual, I'll be our will providing that XXXX compare press as excluding items outlined in segment quarter slide release fourth and the to comments presentation. XXXX of
Starting a very reflecting decline increased unfavorable Fluid margins as quarter, productivity with X% in initiatives. while operating driven XX.X%, last the to strong performance operating well continuing $XX higher profit than on driving X% strong declined as execute Handling Handling. team This again repositioning with basis a million and the actions, benefits. slight Fluid of leverage, XXX growth by repositioning $XXX operating Sales year, core points foreign-exchange. very to of million and by was
year-over-year in line at completed end X% expectations. activity $XXX backlog in with our in exactly but almost original increased On was the and expected. Order at growth but from year-over-year. core Orders quarter $XXX being we partly with also was of order line compared Handling declined X% on adjusted guidance, basis. approximately December million repositioning sequentially, foreign basis, margins an a sales neutral end earlier than the was actions down X% on outperform full our year for did certain Fluid million of exchange XXXX, the to FX
initiatives. gain to new deliver XXXX, guiding to as we decline ahead product are markets, our a we to in modest expect growth flat our on core and a development end shared continue we Looking while
by the We increased exchange. than Investor compared in X% margins approximately cost actions Instrumentation and over our with from of reflecting higher $XX the Payment core of acquisition expect Technologies, reduction the provided control intangible last volumes we and have margins X% current million the driven to more demand. given sequentially expand consistent from last operating by currency few in basis of temporary to the X.X% with year decreased XX% margins however, operating unfavorable government At sales growth prior did to $XXX slight quarter partially Merchandising Notably, sales of last XX.X% estimate year. year, foreign XX.X% offset points Segment reflecting US to XXX at of compared Sampling profit years, improve million framework and and following the amortization. margin dilution Day
slightly margins. we as incremental growth international some the the quarter of where just below product sales but the currency at profit, were had result expense operating our sales largely helps quarter, which in in of substrate and Margins mix expectations a of
of exchange. acquisition segment X% of growth core of expect unfavorable offset for XXXX, Cummins from partially approximately this foreign For XX% the sales Allison X% we approximately by growth and approximately
margins XX%. expect segment of adjusted We XXXX roughly
be XX%. Excluding acquisition, Allison segment the Cummins the impact margins would approximately of
no margins margin the XX% for we segment expect of is Allison to our with average, few overall to years, get Cummins this so there long-term in XX%. Over segment next line outlook to change the
off driven finish compared had In capped At heavily basis, Aerospace a modernization lower in quarter, year. and fourth million last to the X.X% a to growth and sales margins sales. segment that by with with of with $XXX sales up down military basis we increased year commercial aftermarket year quarter, core Electronics, XXXX. X% XXX X% great was points In XX.X%, a increased margins on of slightly XX.X%. strong spares the upgrade segment aftermarket total full On
up for the end record size million $XXX This all-time business million end was Full backlog the business. technology growth military the and aftermarket Aerospace X% commercial all last across and both perform XXXX rates at military with the to actions were quarter well on sales readiness year XX% increased to compared sales and continues at and an backlog of in Electronics Aerospace both commercial. A&E extremely strength with and solutions. with $XXX winning and similar repositioning driving year. Crane Electronics. of our new daily This is complete across executing of business
from segment production is this from in first X% approximately strong sales the it any headwinds impacts the of this XXXX. Based absorption segment Until approximately on forecasts in of For $X.XX volumes. we production reflects magnitude But best the per of going margins performance XXXX, Boeing publicly EPS additional and are Boeing, with XX.X%. resulting the temporary impact speed core an expect half with impact topic. we continued we disproportionately and communicates And expectations, recent from to in XXX-MAX their in decline impact underlying production We expect the the XXXX, but provide current earnings we pause. expect XXXX. a not believe details build on change share overall of will
and to Engineered declined Materials in driven margins to seasonality to the quarter. decline $XX sales X.X% Operating reflecting in due million lower XX% the volumes to RV fourth decreased customers. sales normal a by
the X% of few Solid margins performance In XX.X%. period. team expect as core RV next segment a sales months by decline stabilizes XXXX, during with the the a of during challenging we market
total guidance. more to now and detail on results our Turning company
to XX.X% $XXX million was of compared last quarter the Our cash the flow XXXX. tax in million fourth quarter rate fourth to free quarter, $XXX of fourth the in quarter XX.X% compared was year. In
$XXX of For $XXX the flow last million compared year. full year, cash to we delivered record free million
also for comfortable substantial acquisitions the of very return we and and asbestos flexibility Matt are we liability in Both trued as sheet the to shareholders XXXX. deployment cash We have of with our balance highlighted. up In quarter, capital strength estimate.
settlement and to all that to non-cash a claims cover since Based the is on opinion XXXX. would post in reflected update trends impact estimate liability over have resulting against additional pending Dummitt liability v. the filed environment asbestos shortly average December to asbestos claims of estimate Court that continues of and reflects XXst State on settlement its our on in The update net New the last able was defense and Crane million. $XXX remind XXXX. our of are York. Co., our liability York This accepted investors the future that best values the of Appeals and after of our through projected payments tax last of issued estimates us the and years, litigation update we provision estimate Dummitt in be XXXX costs I generally asbestos New experience three non-cash further completed now would refine that end in update December after point Dummitt indemnity
than covering there for annual to Despite an that average outflow. undiscounted in XX more cash no Remember outlook is is years. our change span payments near-term that update, will this medium-term this number
to million outflows ahead. of tax with outflow average XXXX asbestos-related to after consistent the gradually expect in stable in with cash $XX continue cash declining and the approximately We and insurance annual annual recent cash years in years outflow
result due uncertainties related inherent a liability. well asbestos environment, may to in the estimation our this in to total is estimate lifetime future asbestos this in litigation While process, adjustments as additional uncertainties as reviews
as in cash asbestos the strategy we And strong aggressively managing to pursued asbestos related for years. decade our over It's that outflow last have liability liability many our cash a also asbestos to has case-by-case, we to growth addition have outgrow declined. free important delivered flow remember our also
of XXXX, insurance our asbestos record flow. net that of related in outflow cash context, XXXX and in outflow cash a asbestos million $XXX For and generated of we in cash million of at million peaked related cash we was generated $XX net $XX.X year $XXX free insurance million free flow;
see with please the today. Company's SEC information, the filed X-K additional For Form
$X.XX. Max Looking a range ahead of to XXXX and as is EPS in guidance excluding $X.XX our mentioned, special items
We also available slide are on million is $XX of expect $XX There of free website, $XXX the capital other of assumptions in some million. cash flow million. diluted tax our key XX.X%; on share million guidance, $XX to that rate $XXX and corporate our in expense expenditures additional count details of million and our XXXX presentation but of
million Net non net operating inclusive of to approximately of expected be interest is expense $XX $XX million expense.
of weighted driven earnings second of throughout primarily A the accretion cadence by more up to towards incrementally the normal of three our the progresses. in regarding A production color business. the added some rates US Just year half earnings return factors. resumption year, And as in will be later half second currency XXX-MAX will build production acquisition ramp the year. XXXX which and
full-year XX% quarter compared of first expected XXXX quarter in expect first do with we our of decline the EPS EPS first For the a at approximately specifically quarter EPS. to
While driven quarter this see, first is that comparison. and contribution typically the is a US decline smaller quarter we year-over-year primarily earnings by the XXX-MAX first again currency the
over Max Q&A. comments before back turn it for to turn it me additional Let some
