We generated quarter was first EPS Thanks, $XXX of per morning, Good everyone. and Tod. million sales share. $X.XX
investments. to basis rates XX.X% operating capacity of between XX The significant related and quarter down basis depreciation to declined our First reflects XX.X% delta EBITDA the our margin points was XX points. margin two incremental
helpful capital expenditures. metric, elevated of two margin still progress our operating reference a through is as While years EBITDA we offers primary point,
the on investments and expenses operating of up in points by growth increase from our were strategic last sales, sales The XXX basis lower year. As opportunities. loss was driven rate leverage
For adding the in to grew offset thus, X% segment to our quarter. We portion basis first Industrial headcount these the solutions investments XX we quarter, collection example build businesses. R&D of are more gross points which a and and up connected and the was in margin, with tools
benefits Importantly, material offset gross volume in by chain raw by margin both increase driven lower partially was of pricing, with The along segments. which lower up cost, was supply sales. lack was on leverage from
a do margin there recognize with level pleased gross we is to also improvement. sustainable of are create increase, we the While work more to
level initiatives cost cost including the of manufacturing mature new takeouts the lower Our strengthening leveraging and include capacity; and our strategies. top pricing optimize refinement our part within of plants continued supply profitability, manufacturing chain;
our expect that complete pursue enhance We will to further continue new projects margin. many of over to coming these opportunities will we the and gross quarters
Turning other metrics. financial to our
at us. Our quarter the about which conversion up end debt-to-EBITDA, was Cash spot was XX% is times comfortable the XX% leverage ratio the in one for year. of a slightly above net quarter, last from
We’re payables. on up and have ramped making and we days on progress sales inventory our focus outstanding releasing
standardizing, Fiscal improvements, thank focused want our driving and people beginning I which the system, ERP. of XXXX to in fourth and the our marks processes. take moment optimizing global of our all a team are on the being our these is year globalizing to enabled by quick on involved
those thanks to continue people. us So and finding efficient a sincerely appreciate confident big ways I’m make I organization. they passion, all their to will more
I’ll forecast. to XXXX review a now turn of fiscal our
the provided ranges no earlier, there for greater to are Tod everyone we in ranges guidance year remind to the want guidance intentionally this uncertainty changes As kept to last level we the environment. of wide operating I also mentioned quarter. the account that
and decline sales commodity fluctuations, includes This concerns to way. are forecasted the we last currency X%. X%, to political feel quarter-end, by headwind from of currency Starting it’s offset at year. increase a maintain pricing Between range the the that between benefits One feel environment trade-related a price X% X% we a full-year and of top, approach. prudent from partially still X% same and
A declining on-road production, exhaust emissions the markets and remain will off-road each also soft. mid-teens. are by sales likely sales in headwind, Class X% up have be the expect On-road projected X%, in and to will truck are we pressured and a slowdown Engine down off-road with
mid-single PowerCore is products. quarterly projected Aftermarket are PowerCore in we the share increase sales to innovative quarter, record. sales in how a plan growing. last mid-single-digits new great of in to reflecting gains digits, example and low Aftermarket a of achieving continued sales up sales the keep to are strength
ground defense. of mid-single are growth about talk rates of proprietary from engine we with that reflecting out Rounding are products planned a aerospace key aerospace greater up retention growing in commercial and and defense digits, When the gains, strategy. share part sales in aftermarket
Sales are up X%. in the Industrial X% segment between planned and
secular in being offset headlines Special expect Disk from single-digit low Venting. a with We growth decline Drive partially in Applications, by
in forecasted reflecting up IFS, BOFA. digits, sales from incremental GTS In the to replacement including benefit of planned high-single mid in sales up are digits, the are parts. higher low-single the sales
after more about the a so call, add let We color. last IFS questions received some little me
marketing we compressors. up and to unit That’s half banking is business of for new aren’t we First, related total equipment. collectors down conditions. on OE of very dust like made new When things favorable break about IFS, systems
We’re planning of to reflective bit the year environment. down a this businesses be on these
parts dust and The by other replacement our half Advance of AFS and filtration. including is process dominated Accelerate portfolio, collection
will businesses than offset equipment. We softer expect rates healthy these environment a new more for in growth demand
also might question course We to have. do in I’ll expect year. over of front in you the sequential the – of tend get another IFS another momentum
the quarters. the from over We been expect layer benefits several making in next will investments we’ve
through I growth talk of but we first-half calendarization metrics. second-half in XXXX. our XXXX in better expect go be first, much a guidance I’ll fiscal about rest moments, in will few the of Consequently, IFS our should more the than
XX.X%. margin. we basis to while one new entirely year production driven forecasted up XX Operating a lot as to are to an affecting from of That margin points, gross another. transfer facility pieces be increase margin and which There we capacity, working of by gross from between is moving our stand XX.X% XX to represents last expect
through many as to move we of us our deliver expect We to gross complete setting full-year projects up target. year, the margin these
of are million from the higher incentive largest item. expense will flat rate up be projecting being the We about to year, last compensation $XX slightly notable with
$X tax million other million and of $X For metrics, we of between to million $XX our XX%. a other planned million, XX% rate interest operating and $XX income expense to
$XXX capital at to $XXX We expect remain million elevated expenditures to million.
as will pace year of spend likely drift the course of over However, down the projects are completed. the
our to X% conversion Altogether, $X.XX also with We this year, which repurchase and is EPS consistent trends. GAAP recent we’re XX shares expect again to between XX% and planning of of cash the $X.XX.
better expect elaborate back further the with we Consistent calendarization Before Tod, the reason we year-over-year me The easier XXXX second-half in on of one to let as the performance an last turning first. second-half the that than outlined cadence margin. and the sales call for comparison. what quarter, is
second-half are year. where this reflect Class from exception of widely We to pressure headwinds is engine we The headwind repeat more and later A results which on-road, the in performance. under production more slowdown notable severe was When of a don’t better FX on that will expect in OE XXXX, fiscal only destocking. anticipated year, the be our
the XX of full-year margin, points second-half. basis the operating in be For by will to driven XX performance growth
to our year. first-half initiatives margin deal this to has and benefits with comp plan from fiscal later tough The realize we a improvement
little While responded of proud our we a has would global uncertainty, to team happily the I’m way uneven the less environment. accept
uneven part that is are is of point business I because out of we making. the why should choices our
certain less while others. become we’re markets growth continuing to in press and building for businesses, efficiencies As favorable,
us we’re teams long-term the that confident and are for solid balancing decisions Our opportunities, success. of position doing making to right job these I’m a
the call turn back Tod? now I’ll Tod. to
