morning, and We’ll start Matt, Thank with you, good EPS. everybody.
up was EPS year. the $X.XX, to adjusted quarter Second prior XX%
as up higher-than-expected HERO. lower X.X%. tax than organic half Almost X.X% the products mentioned, were sales reported primarily gross demand sales $X.XX growth and to consumer revenue was the margins Matt of of our As Net was $X.XX up was a rate. our many as strong continued outlook, better well year-over-year due and for
by growth. in to down. Organic the That half, better sales second and volumes expected were than turning expect once slightly to decline we again driven QX slight pricing return was with to a continue volume
and a higher a productivity from that point greater product impact our exceeded margin quarter the XXX result recent basis driven to primarily XX.X%, a increase was strong from productivity contributions ago, margin acquisitions inflation. year by gross This from are as mix acquisitions. quarter saw better second for we our a Our pricing programs, expectations offsetting due
Let bridge. QX positive through impact XXX basis made offset price/volume by basis positive XXX basis the point costs. points of positive Gross from due XXX from drag walk and following: points currency, manufacturing was XXX margin from you a higher a from mix, of up to the productivity points me points acquisitions, partially impact XX basis basis
the For of year, the we this balance trend to continue. expect
XXX was was Marketing of Marketing year-over-year. points million, Moving as of X.X% a than QX year. basis higher up or to expense percentage last marketing. net $XX sales
interest adjusted was basis QX $XX SG&A, increased a increase to Other rates. For $X.X year-over-year. SG&A points XX expense due million, higher average all-in million
we now $XXX of year, not full approximately the long-term We expect expense do million. have any other For refinancing. debt looming
loan, the In left the XXXX in our next term of fact, August is of $XXX million maturity. our timing than other
to approximately of For basis first activities year to cash for expect XX%. million exercises, operating in and driven income higher capital. now due the XX.X% of cash higher points cash by months XXXX, working XXXX, benefit compared decrease to tax, tax from a effective our rate to And in now we full XXX increased earnings improvements from for six XX.X% $XXX the rate option be a the quarter was to stock
the Turning full year to outlook.
to year, raising growth EPS our approximately and outlook gross sales, cash full of and QX Given organic confidence be we’re results year X%. of our now the X% for strength our remainder sales flow. growth for expect and XXXX be reported the We sales the the margin, to approximately
our in the incremental Given of future and strength in we see business, the investments quarters. brands to opportunities capabilities make
now higher growth Compared our recent our full productivity expand and faster commodity gross We from higher basis previous margin XXX favorability, reported to we margin outlook, see cost expect acquisitions. year to points.
While for continue pressure, of we seen have we the outlook, net prior lower to our pockets year. inflation expect some since inflationary
of perspective, but increases and in expect cost elevated in $XXX historical million from still XXXX, $XXX million XXXX, much For the $XXX than in XXXX we better million we saw levels. the manufacturing
of to as typically if back history COGS history, of XXXX inflation. look Speaking from we had we XXXX, X% at
the to saw impact. years X% COGS XXXX, about we’re of an seeing XXXX, XXXX During And in a rate. inflation impacted COVID we of X%
commodities down see we like ethylene currently, XX% year-over-year. So
other way, lithium for ash lithium carbonate, then now lithium which used with panels. is soda up XX%, used soda in the is see going However, ash batteries we and solar
the This side. with on pressure supply demand spike combined
China that’s example, is has and of the for largest upwards causing soda So and price. ash globally issues, supplier intermittent on supply pressure had
gross we’re a the period margins, we not yet. So point of a up Wrapping made progress. have lot is as of deflationary in
about for opportunity still margin over full lot years. we expect XXX It’s the few next basis below However, year, to of a pre-COVID the our levels. be points
anticipated previously we’ll XXXX, the well fact of percent able there future. This increase XX% as intend to XX%. net getting to we than news we’re position sales to a the and is to back anticipated, initially for We great sooner in marketing that the get business up as
We what investments. than make performance a in and as XXXX. sales was in and expect strong compared increases SG&A of larger increase of instead percent SG&A to assumed as we prior to be The both increase expected our a is outlook as strategic to dollars compensation in business
business As have focused are we when investments for for two strong years future, in performance these in investing areas. past the
as higher registrations marketing with accelerating growth [ph], markets. as around MPD international and well investments R&D product First, investments in
expect be driven flow an from reminder, is Previously, EPS million. and expect approximately automation to working to capital. in up now year And now We we X%. higher in billion. a $X includes $XXX higher in marketing investments full cash efficiency, cash our year approximately about million EPS be we’ve talking SG&A. guidance earnings would be to and $XX that Second technology. step increase a We The of as improvement be by operations full expected
continues plan million. full Our CapEx approximately year be $XXX to
As a of first we of to the the by in expect growth investments, accelerating of of to flat. half continue we to levels growth sales second X% we XX% be EPS capacity investments result return XXXX. historical year Strong and expect half EPS as drove performance to make
and a And for X%, expect we X% outlook sales of for margin have approximately reported organic expansion. gross growth specifically, QX strong and
in a more well expected significant as spend EPS be from QX. XX% to marketing towards We year’s also last QX, decrease per investment has as Adjusted $X.XX expect is spending a SG&A. weighted as increase share, adjusted year-over-year
the year, six summarize, growth So year of back us, a are momentum move lot part as the strong months of the to XXXX. a into return of volume behind we in a to
Matt I that, with take questions. would and to be happy And
