our morning, our together, come teams a again is I by look globe. I'm with want once start to came I Good impressed and how fiscal as solid we Tod. employees what everyone. about excited around Thanks, yet the am to XXXX. also thanking year. Donaldson delivered to
inventory fiscal restructuring talking million add results. XXXX, fourth also follow on I focus charges as My will operating was charges related sequentially. adjusted termination improved pressure, $X.XX XX.X% details grew EPS margin Russia. sales our on operations and XX% related leverage of summarize pretax to outstanding gross will the quarter some gross XXX customer comments our increased or write-offs points our through outweighed of totaled exclude Russia. and include which included up color income X.X approximately to in to margin of specific charges To the basis for to the Before receivables up results, non-GAAP These of Operating the XX.X% office year XX% points operating prior quarter, versus basis XX was year-over-year. in margin XX% expense closing and of
a represents XXX decline prior year. versus basis point this However,
of points well While XX.X% over turnover profitability. was our and briefly furthermore, XXX by talk transitionary labor dampened as and now I'll almost Operating that segment more driven as sales. leverage of basis on about higher commodities inflation, persistent as such such is inefficiencies, costs freight pricing mix factors margins. offsetting as training sales percent as a prior by fourth favorable year, quarter expenses, sales now primarily
points pretax this as margin profit the XX.X% time pricing year-over-year, the up began efforts Engine For basis our segment. year cost the to first at fiscal throughout XX year, in pressure offset was
in was side, year, industrial year-over-year decline rebounding XX.X% up versus the from profit point basis margin third quarter. a the prior On pretax XX
and well. segment. integration XXXX acquisitions, a three fiscal Solaris, of these Purilogics reminder, PAIS going this is businesses three As fall our into The
We scale. their forward them are and growth seeing continuing in to invest look to
statements. balance cash sheet to and turning Now flow the
store pressured cash quarter. sales free capital, by while receivables driven Our increased elevated inventory, quarter was this less the flow than elevated in primarily from a was higher working still by
capital and We the return year, North particularly stabilization of increased see driven as versus the capacity global towards more levels to expenditures XX% inventory continue approximately expansion, investments conversion supply America. beginning nine Cash quarter to leveling. chain we efficiency. in conversion have first XX% was quarter work the of from $XX about normalized begun resulting to in by now months are and some mainly through Fourth in million, to were sequential the
shareholders with paid in share of capital repurchases. In the million acquisition terms a of dividends $XX $XX in million about form Purilogics $XX million to and $XX and deployment, returned million we on
year a net in Our sheet, us continue our ample eight strength point and The pursuing liquidity balance close shape great objectives strategic combined beyond. in we of ratio allow balance times. of our remains to with sheet XXXX will as debt-to-EBITDA the with
translation some about lap currency the color guidance with in. XXXX which The Now, the expect the in and X%. the sales, benefit range up twice the on impact within throughout a earlier be pricing actions, Therefore first what to To in our second industrial of of sales will gains in benefits both year Also resulting layered of prior as taken impact in includes and of was add decrease to sales X%. we the walk XXXX half and the of half about fiscal in I'll pricing impact a actions is as year similar. we fiscal in engine sales, outlook. negative fiscal to it was through stronger pricing on year. year's XXXX included XXXX begin pricing X% a X% Beginning our our be expected between is currency
aerospace by a growth increase X% X% driven defense. For and Engine, expect we and of revenue and aftermarket between and
and are of digit be to vehicle aftermarket, are by Defense share while geographies sales in robust gains Aerospace We aerospace results. strengthening are the which runway material fiscal and demand of high both contribute and below Engine commercial supported expected pre-COVID expected XXXX has and plenty continued industry, focusing remains In strong less to of to driven still businesses, by utilization, levels. market growth. lapping levels these mid-single growth
Off-Road sales both the to part forecasted and low margin in in For digits, businesses. be single strategic low On-Road to programs are exiting due down certain of
to the selective the reflect and customer margin more engage projects portfolio we in to As we in. higher profitability focusing and bring committed we on becoming are customers opportunities the that about we are value company's better management think
for peaked While two chip in have supply is this not as A Exhaust impact including new range likely slow to to volumes in to are; run programs increasing more increasing strategy term to sales driving over right these negative our time. continued a sales, related and issues our might rate. is we other On-Road shortages. emissions short forecasting Within normal profits factors believe on few believed have businesses sales returning XXXX, within business on a fiscal expectations will chain Off-Road bound are to due Emissions this be the
driven in low expect through three led where sales the by from product segment, X% to and demand industrial continued fiscal are GTS digits XXXX X% to of to increase sales, dust IFS forecasted to we digits walk projected be projected strength single filtration, weakness likely we'll process Special and contributions be high by sales growth Now continue APAC IFS. drive the which year. single the impact will prior collection our the acquisitions. flat growth year-over-year. versus including disk to still of year. half increase are sales to is expected first sales, applications pressured through is market
Now margin I'll our move outlook. to on
expense driven expected operating gross from be fiscal We between stronger are XX.X%, range leverage. to half Operating the by XX.X% second year, forecasting and XX.X% an operating expansion the up margin margin margin in and in is XXXX. of
through will a environment, manage invest for the recessionary but strategically critical move also fiscal discipline be company as the future. expense potential we for we As XXXX, through
between the which we EPS, XXXX. and expect to Moving represent the approximate increase midpoint $X.XX versus an XX% range $X.XX, at fiscal
Now onto sheet balance and cash outlook. flow our
growth and and and in equipment investments expansion, safety, million improvement investments, to are quality XXX As continuous projects higher towards including than inventory cash improvement. driving cash, conversion forecasted between we and expect in average XXX% term year. weighted increased for source million, XXX% tooling to be for XXX we products of a range historical towards technology, working margin between Capital infrastructure new of and and efficiency, and maintenance capacity initiatives capital the Expenditures, our long work be
we about XXXX, capital not think our have changed. framework As deployment fiscal for priorities our
returning committed are sciences and through to with to life M&A maintaining and capital approach dividends our to We discipline as shareholders expanding repurchases. share on as focus strategic in a well markets,
I'll Tod. Now the turn call back to