good Thank you, Stu, everyone. morning, and
our Let's results updates to discuss 'XX and guidance. some our fiscal business additional
XX operating recent increase with Program. the million. investments growth customers the Adjusted savings mix, the hospital, offset the Adjusted related An the prior our million year-to-date finishing points and an second of some Operational from additional year. in was expenses NexSys margin benefits quarter due of basis in was of partially volume benefited year. and $XX year. prior chain second higher the gross of of adjusted basis the our to These compared with XX.X%. quarter to of gross XX.X%. $XX plasma XX% or increase of margin gross and first-half quarter adjusted strong in depreciation all Adjusted the by volume conversion to our XXX particularly prior quarter compared plus both and inflationary Excellence network. increase to in expense the compared quarter of were second and devices, margin Second primarily points An with year-to-date supply manufacturing gross were pressures, the U.S. margin from An
compensation which investments $XXX.X continued Adjusted Program. of spending revenue, the sales million of of operating operating points adjusted about costs, $XX and the higher primarily XX% year. As development, second was driven the respectively. was marketing, by the were operating partially quarter by and by performance adjusted second with in increased savings the and compared million and year-to-date fiscal $XXX.X an when growth and 'XX. in based and increases operating Adjusted return million with XX.X% increased Excellence research a increase and of $XX.X Operational The our million million, prior offset or compared freight in million normal income was volumes representing $XX in percentage from quarter first-half, periods XXX% levels, at were and expenses including expenses $XX both basis increase expenses
points basis and of and was basis same when XX.X% operating percentage the revenue, the a fiscal points up adjusted respectively margin XXX quarter with in As second period the 'XX. in XXX compared in first-half, XX.X%
Our of and is Operational of fiscal end Excellence Program savings total on-track by million savings approximately $XX $XX deliver cumulative 'XX gross the additional fiscal reaching year. this in to million
We challenging pronounced effect and sold remains expect expenses. quarter in on our to operating efficiency financials year-to-date, both followed savings and continues adjusted by to Both pressure help generate and additional exchange. and foreign inflation on The in had gross cost operating of downward margins. environment the most goods macroeconomic these put the
our for for The these ensure due period XX%. in Additionally, have points impact The tax guidance based resulting margin supply margins. reaffirm cases operating combined with demand rate our to and income $XXX efficient to adjusted our guidance supply We second year-to-date fiscal some adjusted timely and in was adjusted of in had continued impact resources performance operating the higher our offset adverse less in and to ability line the about to use basis range same in disruptions our products, to XX% in pressures with tax adjusted the in we rate margin 'XX. income from midpoint remain compensation global confident 'XX and to uninterrupted fiscal in headwinds. macroeconomic of the quarter XX% of XX% includes the strong
'XX XX%. income adjusted to rate our expect fiscal approximately be tax We
or And earnings share the XX%. second and was earnings was fiscal Second the per expense, share adjusted adjusted a compared net million; with combination compared the respectively, earnings was 'XX. with quarter XX per $X.XX impact first-half with and income in quarter adjusted 'XX. rate, $X.XX, when compared and fiscal diluted up adjusted the million; $X.XX; $XX.X The interest was million fiscal up negative up XX% $XX.X of and income when income 'XX. tax quarter had $X.XX share of year-to-date, second FX per up when diluted or of adjusted Year-to-date XX% adjusted $XX net XX%, diluted million on
We higher to be income our range volatility guidance share $X.XX The to midpoint are per diluted diluted adjusted earnings exchange, an foreign and includes fiscal approximate expense, updating our 'XX $X.XX. interest adjusted $X.XX the per of share earnings from guidance of and tax. headwind adjusted in
balance to buyback share in compensation repurchase quarter previously second flow, helped to stock from Moving 'XX, agreement million existing $XX share of This our 'XX. and buyback of fiscal we announced share-based cash common dilution $XXX repurchase into authorization. under programs an entered the offset sheet fiscal in share accelerated million
in was before as supply believe accelerated Partially increase $XX flow of in since second beginning the on U.S. end of for We fiscal the as manufacturing of to ability for to cash and million be by a free of Plasma Additionally, guidance million the investments, on make with and higher flow The These income flow strong generate these and to subsequent was due net the 'XX we flow repurchase Stu, including before improvements guidance part update cash restructuring benefits primarily prior our down capital NexSys, they we higher expenditures before significantly net continued partially of to compensation. from Medical. reflects previous million to hand first-half quarter. drawdown restructuring-related and cash range of to net activities. restructuring-related to million 'XX. the our and $XXX mainly from fiscal as performance-based timing in with year, the restructuring was $XX.X the paid earn-out $XXX.X at 'XX. cash second was of 'XX. compared Cash was Because Vivasure you the related fiscal and our on $XX first-half hand investments updated from lower the liabilities, higher in income, inventory, program, million quarter payments an in fiscal revolver free cash to restructuring compared offsetting completed our fully of made these in capital our and impact cash the to the offset had our the and operating of fiscal heard $XX acquisitions, the restructuring-related million, higher higher and minimal of share $XXX of network Free $XX conversion million guidance million, that in higher due to flow additional our to accrued $XX.X off end Excellence The benefits $XXX working million customers chain million. costs million, Program. in $XXX Operational include costs costs
cash Our risk. earnings exposed are to interest and rate flow
XX% is secure mid As part prudent extend spread environment. of the rate the economic on rates, our of of quarter, to facility, through rate average we term we XXXX. to until swaps applicable exposure of believe we our of additional and interest X.XX% interest June refinanced an value our in interest entered mitigate risk plus loan credit XXXX. that interest our swaps fixed unsecured management use rate especially this In which volatility swap existing agreements mid blended interest second in rate into These the June, notional strategy,
blended rate average increases to XX% plus notional until the mid spread interest X.XX% June the the Thereafter, applicable on of value, of XXXX. fixed
leverage thoughts. a like ratio net the X.X. with In few closing second quarter conclude the of I'd Our to end summary, was at
opportunities delivering short-term on generation. and strong EPS robust ahead, the our about We and flow excited adjusted long-term free growth goals, and cash including are remain and focused revenue
and Blood our technology the and our Our In resilience supply Center, Plasma first-half savings in remains collections our leadership and Operational is macro The expected show the short and open challenging business, strengthen $XXX chain playing results generate Q&A. our continued products is on for second quarter demand and our to despite strong support in and our to of capital 'XX. $XXX critical environment. further ample Hospital, I total you. in In to to Excellence track, million shortages addition blood role inventories. sheet with fully depleted all for million gross now, results we vital And allocation customers address breakthrough delivering in inorganic share. completion, fiscal like product lines, line helping expand investments our and And is liquidity and our organic to its priorities. across of strong, balance continue make a our to our by would Program finally, Thank long-term to
