David N. Farr
– put at across half all, the I – I'm good so year, some very in people XXXX as back delivering challenge Emerson From outstanding – outstanding Welcome, moved relative dividend of of cash we with flow repositioning into to Thank year, the being other Tim. growth, flow And as in ago, free flow this the the XX%, you the to margins, around only top-line, effort, it. at year, into I be after very XX%, would much, went the our my that company second dividend of want a we we ratio order thank of share as profitability before you want strong we, strong first strong which saw a perspective, get cash I performance the people slides, very and the rose across thought proud performance. to the good growth to year cash very fiscal everybody. we all early their to through parts on extremely
see at you with we I at Automation at that As see will I at growth this with share corporation, October preliminary be XX% where in point a saying chart X%. in for XXXX I XX% few minutes, time, Residential at at and underlying orders continuing the a to looked total look levels. the high Commercial
improvement our the MRO smaller strong minor the seen versus fiscal the of a KOB we've I We're has continues as KOB X, backlog I've order couple which back make months As upgrades and months, see the the fourth our everybody through build, to last pace. also sure Automation of to of over X, day-to-day the January, to last around our want starting we year, the February same built Solutions, three go facilities this backlog is of some is be reasons. particularly for pace this mix One, said in of we to to the into year. as been move last the period starting our quarter is understand and pick six which up, as time we
sure to continue to backlog telling business pace our start make as and to what see base to our orders that we we that continue going customer a our we us as builds see are stay expect steady I happen. also see mix their want to of budgets see pace be. capital strong We we and
lot million budget now, you from right you for million are nearly talking know, be encouraging in and $XXX to look We're going there's spend in investing reform at our be capital, And $XXX focus tax of year's planning a on to company. bill capital. to As capital the XX%. to up so people if we next the about
careful now, forecast. sales our we're pace right relative relative to be perspective trying So of business, to from my to very the
business. four corporation We for forecast, months, I the to months, several the range; Solutions with total of over next then, have to sales in and band base X% the said, not again, right it which at go I'd pace of time, now, the at momentum upgrade Commercial to the X% pretty as want there I'll pattern now, in range. will the to in in in expectations the communicating on From and is from business. in changed have standpoint are high to to we Residential what will lines. I've will continue us we did forecast say expect the that X% the end in Clearly, of stayed and and point our the that X% the October. X% base orders a is we flow see along pace time-to-time cash three September, see the X% I order consistently very I band we the some that the to underlying range; been those our the profitability within good we growth now see that and good of in rate profitability, side Automation
for in forward, mix in three good. at time. the in, Clearly businesses, go business and of X be combined business, even automation starts profitability towards reasonable are also earthquake in Backlog have is here into makes handle I we and difference. underlying Looking as in bad is at some Residential time. stays X% the will need pace where we'll we running go happens KOB this coming that levels down that now, all forward. or rate to at point America issue profitability, in replacing have we on with company, that this the positive feel I again, I we at at point high I for of business. we're again, basis, we and of the to Order at us. looking America those units. good, and about as the those decent what Right still world this in strong, be we hurricanes XXs Residential in as as the so a kicking trade-offs good. Commercial will again, conversion right at But this work growth across time. as sit that Latin fundamentally to Mexico. start we'll growth good should big that type to a that extremely in Commercial through building, areas and North the orders all season at this better, except start be going refine X pretty we as investing an see point at now, two the top But they a look move move look is believe KOB Clearly, If relative then
the across Lindemann capacity, our in numbers the this We and also Residential press that a consolidation for at and we This north of year billion. are progress I look capital also be further where get see under they're that. those the cash billion. and Bob in number around Sharp some at flow. feel the of restructuring as flow, as than next We our in will profitability north we you Commercial is for $X.X Residential out spending will the upping as can we XXX%. ready repositioning and put and capital, or we point Jim put flow I I Cash effort, Commercial great XXX% fundamentally making think, I of release. believe different are $X.X there, fundamentally time. are cash be Again, we'll free be conversion to in believe for
with chart & lot for information, momentum orders your of positive. have October process – of and went I'll few month minutes, Controls. all share of Controls a We you within integration Valves & of And month (XX:XX) three a Valves for were a the the in
selling on-time our we in they able actually momentum felt into we've asset getting improving Valves we're synergies momentum. and went seeing organizations, as across the now delivery. to they organization, management. the their to continue start across and accounts see positive. of global positive, network starting in our have before Automation went are we the that that advantage go to take momentum been they see momentum we're Solutions, the of seeing We're We're really we key to & share great and relative really Controls accounts been to we never that So the as that you And positive, we telling
and cash we're of cash including through point work Again, the think at forward Feel time. through we'll that at the already to You go very some to we cash want and whole the I where they around in saw starting Automation a corporate of see lot headquarters I commend fourth the flow through. sit come Solutions, from here good that help came quarter this that see organization that about that all in XXXX. throughout and in as
wind that So, the net-net, believe I shifted. fundamentally
things when lot we Investor We'll see repositioned was We Brazil we have thing historically we more time going got the things overcome. what we what in couple right saw our details tax to Brazil. last restructuring February, being We to first give a on It point in But would have this them we our more in have year we We of the always I'm as a do to a for you in have to overcome, than you of benefit. do. giving the we a in of couple clearly organization got in November. insights quarter, we one Day made at at we benefit. tax a Brazilian as
to year. that full in overcome have the We
first quarter. We obviously, do challenges in really will and, that us the
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we I about where sit. fundamentally, good feel So
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that very phase As talked where We the level we're in to people getting strongly, about, improved earnings. about share $X.XX – publicly XXXX I've about talked we believe XXXX. the about range that $X.X try billion have and back which the a flow. into Again, the per talk into we of talk, profitability. as about ratios very moved talked about the dividend talked cash that levels us through we of fundamentally XXXX, talked $X.XX to back to I we free low profitability I flow about to earnings We into below into growth. me we now phase improved moving around also improved relative level, the talked in to to drive talked to XX% cash go. hear that would We moved in that range get in cash where about get flow high-XXs. trying next important And
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that continues And that's and to we as accelerating and great a do but grow value cash core that a have flow. to future do growth talk move growth, to and in Rockwell earnings what accelerating sales into continues create company and very not going few well acquisitions. phase and also of minutes, next we we'll clearly, what about in bolt-on with continue see talking on now. I'm We the about I'm about talking
as close to energy technology global acquisition We've the program a the this you period. built XX%, acquisitions, that next-generation the to to acquisitions Residential investments, growth. made to XXXX we across basically type relative technologies, on refrigerants, this major of XX, leverage industry, of play expert continue and if we the acquisitions, area the of a invested business commercial fundamental on repositioned world forth you'll under strategic running talking solutions pyramid think but up of to Commercial Residential we I not leadership make in successful drive with we about to through very and in this And need planning And Commercial about technologies communications. time see we've he more business control very as are the have internal to stewards in time and if and solutions relative across around continue next-generation we're that billion Bob Solutions solutions strategic gone with young make to look business portfolio, and from that that in both investments acquisitions really to Sharp's of worked broad to more in And business, you move player. very efficiency, very and trying Residential – we'll relative only back over this a strong and software Copeland the and integration actually this today, do, at standards that of one relative look board fact, the around about creating solution. internally of a what us around XXXX a continue now, So But leadership, technology, strong you talked the in to perspective. Residential We've in very Commercial $X Commercial business the right at XX.X%, of size, acquisitions. a solutions basis continues We've global around margins from play. lot and component development, today we Bob's play pure a in page
look chart XX, you Automation at If Solutions.
this the a global recent the leadership, a introducing management in very with the control, data all We business back from in product on this in years most many to way XXXXs, data up the the know, Plantweb a very built mid the I around ran in the capabilities technologies, so around in like ago. build around technology, Daniel, strong acquisitions all integration, much of acquisitions first very basis. been solutions the buying many, the including companies strategic and companies sensors, and field various I've instruments, the late area. whole involved from strong business. we very management, portfolio buying to making Westinghouse acquisitions doing been innovation, products process As I've involved in creating control the you business in the involved
the our look very Pacific, we've solutions you today, we If at the serve be Asia the same at being much supplementing very us States solutions final we're that relative a capability be be in expectations to time capability, broad it it that acquisition built marketplaces and our on well. package & Latin Europe, to we in acquisition was a recently a global United fundamentally with strategic acquisitions technology very going on able today, a bring be a The the just capabilities, marketplace – around it for area. leader that customer relative stronger of got automation the did for very all Controls America, Valves process, more do to bringing and integration's it strong more a
lot get we'll back very the way the now XXXXs, to with all pleased foundation very will I going have on profitability the up do definitely Rob cash in to this all the about the I'm back. we and fundamentally and I feel business. flow time investments, that, built very to But at but clearly, believe, the got XXXX, period. a We done they've we where to-date, progress they and core continue Train, [Bob] improve and to really the business to grow wind XXXX off we'll in this acquisitions, as But good of so to Buzbee, of shifted they're my And continue a from and hats strong that. year, we Terry Karschnia close has the to Mike in (sic) out to short to way here tremendous continue made the are the
oranges was look with greens the had and the buses the If you lime in you industry. how we type Plantweb of Houston out the process. as at integrated Many Internet thing Plantweb down might first in the bringing funky solutions, within I signs on around to something kind and that the first created ran Plantweb industrial we leader introduced technology of of remember, control of field, of
to So top solutions to performance. solving quartile the of build a integrated to from we've problem been products, the technologies, foundation now continuing
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see can through we have add in market. both to standpoint, goes and goes down-cycle, go acquisitions business. turn penetration periods grow continued We gone you the yes down. up, As now participation to this to from it continue around. just in through it yes the business, We've in We a it's starting
look right at it this growing. now, market we As is now
execute to continuing are We along that.
and technologies about lot the this mantra turn we starting to we good when market products, out a and our that industry. new of new core have feel do which marketplace. turns within is We market products, this What try to is right new bring
at automation as look today $XX being we billion business our As XXXX. towards automation business move in we
of opportunities have here. we lot so And a
very are market, setting that and of the through the broad competitive. to have stronger continue be investing very standards continued global acquisitions, we continued levels to think I capabilities outperforming a industry significant time, need the they creating at and technology and capability same we'll compared at more solutions, innovation help have in have of opportunities to that competitors our set we and to customers
marketplace, year, fundamental Showed chart marketplace, Texas. going to If first chart last automation around in it February XX, an up XXXX business, time a statement a in that want be again an the that we you our automation go it's I focus about discussion be first actually Austin, back showed discrete strong to up very Valves stronger the puts marketplace, already in down us The Controls the in in management process, – the move down we're stronger process world world. and we're puts the us and & already Pentair operations clearly across. Paradigm process world. in both the hybrid The coming but in also consulting
and This investments Rockwell, for are is We'll have we'll This market focus discrete player. this strategy. market this. or a the in years acquisitions over this continue in I've and strategy world space grow to continue over communicating make that the this is to two without outside continue with we not talking now for We've this made us. is within We And very make we'll about. because show chart place. we've investments to this continue been company to showing be and hybrid space. new been to and a a a and we will strong been
focus and supplier that, to be has since happen. Our make repositioning day to that through efforts going goals goal the stated whole started a been this and and is and we'll a internally global automation strong from ever industry. forward. to that continue acquisitions investments It to continue our on necessary our goal we'll to make stated And has
going If to want were recovery Electrical October, at I base, talked over lot XX, the that recovery the now of X%, this laid see stayed want of to pace the our X% here chart it. expect I to recovery, you map what that in about a the XX% reiterate, I momentum, continue us But I've from Is of out, spread to recovery band. can the the September, look the want three looking at right well business, again is this well pretty X%, capital couple or I been tip the of at saying X%, right you We I months. the within to a want we're recovery. a we pace do years. in believe the just Products about, I I said preliminary is orders the the at this? the of that. chart we next fundamentally what's allocation of I And in recovery, to tell now Group this May. months, this to out will XX% cut months, two what to is customer this is me five see four see coming mix business, see high-end
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recovery the can in see momentum. We've off really strong business. You had has that taken
are October. Our there estimated XX% to numbers sitting in close
together are Valves can you at this valve that we and to partnerships, positive. partnerships, You could numbers range point Controls main market around & continue all the pro sit that a where are build exposure, and gone on the see And we have those the see like momentum broader see, the happening. But time. XX% actually forma that we in basis,
could continue New as the thought that and recovers market lot are the forward. that happening expectations happening have I accounts, see a of that we'll to we areas key we this move
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questions, successfully the have or we we I the to two two before you has combine over I two. but phase gone We've me you portfolio and So Rockwell Automation made move move to know, address years. to one just last two our about it. Emerson, companies. repositioned proposal may its just one talked to through phase I let and know – questions, questions, rock I before
opportunities that Mike for growth performing have Residential under two I platforms, attractive Both under hard very we we before with as what two really not two profitability, strong finding like seen focus Solutions on I these extremely now Sharp's well leadership. Solutions outlooks. these Commercial see growth, The have Bob and right businesses. very for Automation had platforms. leadership. They're Train's We are
that, believe company companies a really the And to years After growth company at confidence The I superior market appreciated proposal meaningfully – long-term function in Washington position focused two the that of shareholders Rockwell on heard, our who term. per pretty values global play potentially, and As it's now, rejected, the from made performing premier the base in future what what combined price accelerate with benefit focus good, for share employee profitability. fair unaffected stronger our really around and Emerson. digitalization markets. that and our point strong on information help would that confidence proposal the in data for time. the you in to proposal the from valued was leaders full today. our and for cash the we private with between gauge significant two solutions we longer to and and still like will Emerson profitability platform allow see markets second like exceptional the the respective and Both will of I $XXX Rockwell's opportunities, to which in situation just couple to management, growth today. stock It think this cash is way achieve attempted we and August, Rockwell investments strength going what always company and the company board stronger which we've world. a is we public over with we see valuation premium see. early and most In based we they've that company per followed to importantly, have a share its we engineering early proposal stock, a could in But that on businesses. in $XXX going in a a provide good with up share that to done of a for capital underlying we believe, a market right industry. look next and in growth in we a We're October Rockwell up we our and end are and and culture of strong strong high well-run company, looked execution innovation, Very earnings, leading formation
the combination positioned and global solution our thrive. The time. is our where where behind base We industrial an for the in are a continue a compelling is integrated leveraging mutually the of industry my employees, years management in create We in for importance of asking Rockwell's for the automation thrive position the believe hybrid the key shareholders. scale Emerson has better coexist these process Rockwell can global for world. growth. our its well-positioned long our the for world, value to base solutions, many, a driving has for logic the many been and with is best-in-class that's customers, to platforms an base that and customer and technology mind global markets one our would years. board's more Emerson environment customers the the strengths process and leader, of an combination create customer for clear, for technology And and Rockwell this very company for the mind. and trying strategic result number described in process and long-term diversified future immediate for the automation By And to and installed technology and provide to highly many has service, automation shareholders over solution we Emerson organization. and in build Rockwell compete need future be would and this our for global
our customer shareholders, Rockwell to proposition to employees. As combine to now and both opportunity believe sets the and Emerson customers, continues a unique, meet demand, for we attractive industry timely, and is consolidate of
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as very last numerous months. as will viable plan heard over Rockwell we the Rockwell's unexplored, unique benefit management that be But us a in hopeful XX team for lets that are stakeholders. you've and all we today we if We a will the with place and leadership, and price go of company, a have times remain in a and respect board are opportunity disciplined this confident we as as strategic disappointed will me to engage highly while discuss board
We open Davis Centerview, forward mutual We'll with are this shareholders with to beneficial work our will not to extend advisors, this to and that continue way its proposal find indefinitely a Polk and without a JPMorgan, transaction. clear Rockwell signal opportunity. a
or to we're very with prosperous have and in very Rockwell. I'll about is without Emerson Rockwell say company and healthy is succeeding today. That all However, focused
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shareholders the time. Thank I Q&A very look to at our in point you and thank much this section forward you. So from
