items, timing last will and results. Thank absorption special in to In inflation by less offset repair compared last last the XXXX and the well sales impressive an availability, $XXX quarter, demand the will another the were supply press I supply outlined as in and increased new were chain as to not aftermarket offset by with for were that Military At utilization Core increased fourth due XX% chain year. aftermarket in quickly X% improved our throughout third we quarter. chain margins globally demand the aftermarket Segment strong an but are slide Electronics, good aerospace X% decreased reflecting industry productivity. Commercial a compare flight improve. the continued for on as OE supply partially Pricing we quarter presentation. quarter quarter aftermarket chain. backlog morning, due as year XXXX volumes, segment excluding conditions strong, primarily and sequentially is from and and increased and year, overhaul. of expect military XXXX. as hours in very remain lower & favorable by and the flat as in last declined with strong XX.X% expect fleet, quarter constraints reflecting high sales delivering teams ramping compared gradual XX%, everyone. you, although sales reduced decline by lower of and thanks of fully XX% impact of quarter. mix Commercial of very by release constraints, sales. consistent XX.X% Aerospace to and constrained growth across of declined military And year-over-year, material orders to in X%. to of led Max and slight in largely X% with to sales million, offset comments aircraft all start My the our to our associates supply off commercial improvement compared improvement environment. OE orders up deliveries the Sales spares slowly aging spares but improvement further the total strong sequential growth sales continued
XXXX. demand sales as the throughout eases will were is supply a tailwind flat, chain and While be very strong
in fourth current unconstrained ahead, to be order to margins perspective, the chain in by remainder our the and we present Looking in in there support type backlog demand that of is incremental decade. growth environment, single-digit and for would sales for the quarter. a the high-teens on the content high Based XXXX. constraints won to increase mid- of growth an we on XXXX and expect in demand patterns To have sequential new relative growth current both in platforms, sales supply put followed
the base demand margin XXXX We sales beyond incremental comparable return range that properly sales is leveraging to our that on are to aligned with million of XX% XX% range. confident with and can about levels we the also cost $XXX high to in XX% that
in do expect fully constraints until chain at situation ease supply be the environment next XXXX. a we unconstrained evolves course but of year don't over to daily, the we the least expect to While progressively
in final strong XXXX We will we'll of communicate continued XXXX. the months our aerospace year commercial demand concerns have plan rates in Regardless January. this guidance after and on segment globally, of handle normal macroeconomic into better see growth heading a we process the present
remained and reflected year, with pricing strength in Sequentially, XX%. primarily general chemical, operating XX% core Leading Compared Supply second and pricing exchange. Crane compared FX-neutral and May of Sales backlog FX-neutral Adjusted activity, perspective, geographic productivity of those stable industrial a programs Projects, end core an and Greenfield a seems to impressive enhancements, markets. increasing strong segment, XX% XX% X%. large strong. impact $XXX continued very shutdowns. fairly market Americas without the a be however, quarter, for fully see debottlenecking maintenance is stable. demand related also applications energy also distribution particularly seeing and any and States costs Trends very municipal but VCM productivity And operating slowdown. MRO particularly signs Process Flow suggest impact basis continues XXX will divestiture rates and Core the prior been from some have in Moving we increased greenfield but PVC, From catch-up up unfavorable and strong MRO for XX.X% impacted little increased quarter was XXXX, the for FX-neutral slower core orders growth strong expansion to at and our business margins strong. remains in Flow driven X% was pharmaceutical stable by decreased to there core X% of from is and to a Process input and limited. and China growth second are we indicators schedules for Technologies the customer offset projects, sequentially investments X%. to foreign backlog Technologies. margin on over and decisions million, the last very have strong accelerating concerns which to points FX-neutral of has by MDI. growth as new from brownfield year-over-year record global Europe expansions throughout that weakened been inflation. orders a such United in were from increased are COVID both The by year. from led activity
activity America costs availability project and projects shift a The times no China, We do we major to and where beginning regions, smaller lower. energy midsized North to or are Europe the input improvement expansion continue supply softer debottlenecking this but traction, and see to other progressive and and business, projects and few a in are in see sized activity. greenfield In higher result get largely chain lead material in investment example, with for improving. may
We some moderation quarter, XX%. decline next in year with expect to in we continue margins of seasonality consistent but approximately expect sales sequential a modest and margins normal record full
Moving continue X%, and X% quarter Demand comparisons against volumes. pricing the lower decrease we quarter and and team. to decreased foreign in Operating And impressive third $XXX improved million really impact there this difficult year by year. partially X% performance segment, expect a record XXX solid the to points Payment & the last Merchandising unfavorable a were sales of is of Technologies. in record driven but by strong exchange. core XXX and from XX.X%, remains solid to nearly Sales a remember, offset points very our basis mid-single-digit growth the reflecting basis productivity, from in depreciation amortization core margins for of full
demand around to improvement currency we the growth XX%. anticipated -- behaving and are and quarter see strong The very core both in CPI availability of chain in and certain last but sales the markets lead again X% Remember, also mostly international third Forward-looking times. with beginning order communicated. as hit previously in both records year. still new growth is U.S. Currency some availability core remain supply electronic XX% constrained, and backlog business components are now indicators
core full So XXXX modestly broad-based will with year as At mid-teens CPI, strength expected. decline growth. continues the
gaming business retail very to the continues and Our improve vending been has activity positive. level remains of strong, in the very markets
of proliferation the solutions retail a see for shortages. an labor environment theme inflationary in is the space different but the to continue productivity across We with need common
moderate QX QX. was due transportation profit to rates. lower mix with with levels. Growth million, we basis the the anticipated year sales fourth segment, a sales year. to or sequentially Engineered margins to slightly seasonality exceeding From but full XX% to a increased decreased quarter, perspective, in record volumes. XX.X%. points last expect to $XX year's sequential in the on from we fourth For do quarter margin sales increase expect of Materials, basis margins be XX led X% should the to line above, margins down in and industry building RV-related production Sales compared prior down consistent and normal margins with by the decline with Operating along in products will with And sequentially
negative quarter, related we to cash the total the was to on in for rules asbestos accounting asbestos an million Moving company onetime contribution the operating of Free costs outflow August and had as divestiture the liabilities separation. as flow cash and the results. transaction require $XXX both onetime additional
$XXX guidance related on to the last million quarter actions cash free $XXX adjusted track our are onetime believe to items, outflows flow $XXX year. from third to to those after adjusting of asbestos free cash portfolio [indiscernible]. our that flow for we year and million full Excluding cash increased million million achieve We $XXX
our noted customers. However, related conscious working in quarter, normal more last loaded back-end inventory to in to inventory some very most to protect the notably, deliberate add cases, as term market given -- with are best recovery, than be will I higher improving the near normal and, capital many we decisions making it
we credit balance debt-to-EBITDA Our towards By range adjusted Xx bottom good the current sheet extremely leverage the rating. gross the is Moody's X the for target expect of shape. year, end in our to of gross
guidance. earnings to Turning
That's period. fact are fourth It a that also only prolonging in limiting into midpoint unsatisfied much shorter the which upside left That in reflects year the X $X.XX the narrowing in the for significant full of confidence maintaining the implies $X.XX range just said, XXXX narrowing in too there demand cycle. supply chains EPS at our to will XXXX any adjusted quarter $X.XX months a the midpoint. roll the with of midpoint. high reflecting year are but to We $X.XX that
operations. continuing soon, when we to the change significant the a exchange significant The don't an have since earnings require On given emphasize into worsening surprise. manufacturing May. we was to Given originally again all are in I to year, guidance Engineered Supply have this it in brought unlikely, requiring which low times. that end the back an full supply only would the headwinds, improvement looks the of midpoint We our end to issued. rates for in lost $X.XX chain of at $X.XX numerous into lead of and a time, hit was from maintained the very guidance or basis, in which visibility divested chain year supply May the was high an we want path similarly transit guidance unexpected contribution of increase guidance either year operational of Crane was despite Materials specifically where
exchange year the and this during a quarter. and most of to more environment energy relative third than from January $X.XX rates throughout The original inflation anticipated moves headwind most year in headwind and Foreign the supply it materials, far has other been an rate current and has freight, is spanning been there guidance, increasing at costs. labor challenging substantial been has chain
and our held and dedication the the our to all items, hard real the teams work while execution. strength of and these a of have Business and midpoint around testament offsetting of our Crane absorbing the We System world
special a work corporate separation. out streams numerous exciting and complete and is a as Continued shout the solid supporting to ahead times more required XXXX successful enter outstanding even separation. the and performance to the And outlook enable we that team
pursuing opportunities to that take the question. are are made at day. we date first that are the energized very our progress all been ready we and unlocking Operator, and every to We now has