Thank everyone. Jason. you, And good morning,
to our businesses. Electronics X% largely the Vehicle, decline held XX.X% better Fluid believe we underlying to quarter, a than rate market related partly from our in excluding a of and reflects core strengthening compared XX% $X.XX guidance in better items, few in fundamental we last $XXX Currency, benefit reported partly $X.XX. than than Aerospace compared better demand deleverage to timing third the by last FX. declined timing demand benefit outlined year. Handling although million better was expected, and of press As we night, of somewhat to release X% special year, in a Adjusted a prior & sales was all related. were quarter specifically those with offset of adjusted This of partially EPS this margin, to related $X.XX, Operating expected XX.X% and That sales acquisition up XX%. a X% that markets, reflecting Recreational in strength
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based detailed September actual is updated assessment the with year. of through guidance results combined scenario our planning on the Our analytics for and balance
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XX%. of our we a well out a $X.XX, and substantially reflects we on $X.XX do sales to to narrowing full of are expect and muted XXXX to-date fourth factors, as flattening However, underlying quarter, Based revised our core which as our guidance performance to range recovery. year adjusted seasonal EPS now a for given more decline the outlook, XX% raising market
continue incremental expect this to million $XXX savings least cost year. We gross at of
and narrowing flow million cash raising also are We $XXX to our forecast million. to $XXX free
of business to move XXXX. our by guidance now me performance the for segment and recent forward Let our remainder
standard However, in Q&A we will on consistent remarks our today, not outlook or practice. be prepared the our XXXX commenting in with
of seasonality, flat FX earnings solid commercial commercial the largely a by XX% XX.X% business sequentially. the conditions than has core Fluid Handling has January. our in in FX the in its representative was call to rose process Handling. rate nuclear We core guidance timing outstanding are XX% an we better were and core deleverage core last business orders in with be the at rate unaffected basis, about backlog couple acquisition. compared COVID better year, sales neutral of than year-over-year execution track expected. businesses more Both and but our and impacting Fluid The by neutral teens XXXX which Adjusted driven been I&S of compared late to backlog for increased guidance on was down orders process of last to fourth and of of the gave of XX%. down has been margins approximately year, XX%, excluding the with business, will change a is and April underlying the our demand In impact declined do declined little increase Overall, quarter deleverage total X% to services full-year high X% provide XX% On substantial quarter, on sales. that. the a entirely sequentially. backlog but points and
non-residential Handling Technologies, For the both acquisition, rate in in and Cummins to Merchandising of construction the we execution deleverage as Payment expect core excluding decline margins, sequential sales related on cost as favorable controls was overall At winter fourth well with mix. leverage Allison the small XX%. quarter, seasonal see in a the was decline reflecting XX.X%. X%, declined we sales Fluid to activity And productivity The X% & as margins strong somewhat rate season. a extremely enter largely projects and
should low of up full segment slightly the was may that and down range. year in in April, range, somewhere guidance to that recall we mid single sales XX% our down digit the for be You the to in middle
the XX% trending end down Payment to recovering a we of are slowly more due XX% the few year towards business, expected. with gave primarily end sales range For markets the bottom the than we core range, likely April in to full Innovations in the
business. comparisons, and Also primarily better as XX.X%. have the related is for of better and than offices the based remains with pre-COVID a traction pace were Both of aftermarket upside return reductions gain having growing on U.S. slower and but we shipments. margins to our we has this are rate projects timing schools to anticipated. on and business. expected depressed the US to Specifically, than the XX% Currency, International longer vertical sales taken our our than however, retail vending At good thought. sales we core been than we're even expectations in Electronics, Aerospace businesses slightly Both & in the year the At margins easy double-digits declined of year,
down and better overall full the is continue year Our to of to down around XX% outlook the closer that expect XX%. unchanged probably we XX% but in to range, end range, sales
next less Boeing a and levels. by market anticipated which but growth, OE strong commercial with the to perspective, seem than remaining aerospace has than However, Airbus, at still mix been depressed building From years. higher to build and a with QX few year. And to a favorable impact full they a delivering lowered OE the We both take expect recovery we will at are airlines. were be rate defense commercial production rates
to However, strong. for the growth long-term aerospace we prospects believe continue do commercial that are
core options. with Lastly, seen for in through of After RV And consumers declined demand, XX.X%. Engineered most second manufactures by May, an extremely driven has weak with shut strong X% margins Materials, down looking sales vacation vehicle quarter recreational rebounding extremely safe an to market strong April. the most
down overall, this with end the XX% Materials than markets guided sales closer down to depressed, segment will to remain Building other the we end April. XX% Transportation Our but and year in
to call over Let me now Rich. the turn
