I XX, and forward City thank New all very today, Tim, XXXX. key also appreciate joining investors talking us much. to on in meeting and everyone I you York February look of our
support visiting like learning to plan global and Charlottesville These Germany to I great you and our Emerson. employees, at Klauke; also Virginia, all and forth, month-to-month New you worldwide. for on member, where the putting we are I please visiting be the Exchange. not who newest work get you're do Textron; and do VA, and have Aventics; members, especially Greenlee in Controls in signed the our to what's the we're tool an Valves -- thank space do meeting be March it efforts now and Platforms If in right meeting, update additions, the play in GE appreciate up A.E. we the within the first-hand. Intelligent X for Pentair want Stock acquisitions it away & and Valves have -- of also I'll are be new having the the I and be people, York see because limited business; be going will and now Belgium; truly GE
still pretty got that, can share So crayon that. we've Slide about excited very to but the his first see. Rocket if do his we're thing look you certificate so know got with last him anniversary, the got to and stock And and that. good you quite teaching yet, It issued XX, night. he's a fifth Emerson unfortunately, he is got not He was at first you've how
line surprised even XX% range. slip to from in order our the at line last see orders, sometimes can a X% been lumpiness. we high trend we month for mind keep we've touch in way It's don't or out what range, go talking a this sometimes in the with or is Please that end, You last within so. year, year, bottom low end. starting And this orders could bounce about the be like will
and Frank around get X% Also, to -- they're with preliminary January this the You'll both in we Commercial in just I the also pushing numbers, towards ticked overall notice to well Automation but but trending the team getting very and & positive stay up elevated we're has this we and moving thank like doing in. talked at line, much thought trend which Residential line, high the to for information us, line range. that his still the November. extremely numbers Solutions and layer we up when you
to a sort our I the what with And remember, counter in baked since a out month and North of we'll -- Asia-Pacific. Asia-Pacific. on in climate in you that of we in upturn the in to to in Sharp's media's XX We misinformation XXXX. talk to we about a talked about are talked happening talked recession a China. technology particular, to and to saw business, schedule, I been based we're will commercial around starting America. about drive about China and see you -- to You you the slowdown earlier into drive Bob in businesses I further went June slowdown information this starting Chart it's
you Exxon are our have last Exxon's know to see, -- forward base, But Automation across it's Pass big quite a going in like that. broad to the marketplace. global in on understand December I very visiting $XX are is America clearly, orders I expenditure one way you in and areas. for move comment across trend had in good North a And project think have -- Qatar. we'll be the billion. over us. we I months January in communicate with very big January consistent trending would I would tell part saw little participating of around I a today, for and X that differently going and very, They're made I'll the heard this this was in about I X The can way. seeing team too, But Golden my months, moving in you all line in clearly, bit us. of and first what say as big we're strongly closely what early is another. happy when investors watching month of As been Solutions or a XX% I I the that orders what's order plus more program
are the thought. we trend So lines far, seeing we
We slowdown. are fundamental not seeing any
We and the listen will different listened some you presentations just clearly, at this XX-plus on great insight, -- to have guys to different area give presenters February little get world for have so XX. you I years detail Farr speak, very are nicely. the our Dave a insights. discuss bit presentations in holding which coming in not But can orders now, expand but the up you
price XX The at the is of slightly $XXX barrel. as running cycle per and we about Slide from to the last talk right see now, $XX different was oil cycle. different it when cycle, Let's a
awards upstream little less bit less in investments, oil very oil can XXXX in and investments, You in chemical. project XXXX very, the refining; gas particular; LNG; major to in see in a less heavy
they different to per of price overinvested. cycle up, see the oil a is we really be In when balancing $XX seeing oil barrel, and price As going we're between went the this of $XX cycle.
talking differently. this and could much They what cautious, we more is being in see base point at see are customer time. Our you
much lot more was announced in It standpoint we're profitability. we a seeing at oil. cycles. that We're look just the next we cycles. is from standpoint for Pass, We to midstream. and and the seeing a little last seeing probably is cycle. se about trends on us one year have We're of seeing We're in bit understand, Canada that. seen in XX order 'XX, further my lot couple which very a the I'd to and do to we -- chemical aftermarket KOB play favorable talk Commercial good LNG. from, need be LNG, the funnel as of XX But business will not but good less us to On sciences. investment the we're this is more in stay cycle, Mozambique. above more We out seeing X different our do to a say, i.e. which laid we & pay in trying coming drive orders. and of in which this As longer-term i.e. and refining, investors and a investments We'll Golden There's different a on road 'XX. of line 'XX, here us, life years, for months. consistency XX also And Solutions the trend last more per balanced this attention than Chart Residential upstream the And lot cycle XX%, the more investment in understand out for especially up a is for see more
saw is starting we about dropping lot we saw China, in it. believe We're a didn't said off drop communicated it. a be to this line of Maybe we We X%. by talked driven see it June last to trend a year. that see Asia. to had could up. Asia our rate. starting trend it. the this off people this May, the low This of We in growth line and X% move would end There sales We reason underlying at why X% is You
starting X. the last the the us look is the getting see The the same in you to and being close we're trending is star into Commercial go to China Residential Commercial we sell understands. week went see on are X, out government cooling Residential start are marketplace. sell at coming starting and serve heating, see relative we're after they improvement, back, centers total which the through. & way. of is weeks, the also is They probably products too areas. that far could certain X now The cleansed, investing seeing week and the the we also to and after for can and government -- Asia's number to around week pull relative very Product they improvement upwards. segments, us issue around You for there, From they understand & China. -- see in going environmental to orders starting good especially China channel The to
about is China, not February is been guarantee. Bob And track, we look are But If there's sense we at when us. mapped you XX, one out. price/cost entered that's November still now, Emerson, no look our this Solutions, I Year, and expectations. it's second look Right Commercial at about we less Chinese quite comfortable feel surprising that you New so the if laid chain, in up. back other If line this, we've on as have We've we the trend Chart our XX. people "I there our have businesses thing to understand, coming in what now shareholders." information at growing into see core going right little half you do Residential cold and we clearly, says, something right our rapidly. seeing the they But this But for will with out that the to forecast is talk to &
As squeezed you with we -- we higher know, got costs. through material we the go as cycle,
large customer get kilter. It base. our back with in price/cost Our of out takes to us it got time structure
have X help price where We half is half totally quarters. ate the the last chart, got this by line. and starting absorbed are the will that you over for lost first now cost and the price/cost in in second we margin to up moving the be we of year, X, structure make see of not year, the the forward. still now favorable this In can as there It the
also first you margins, year, improvement. quarter The in. first of half costs. seeing, of not of going From seeing look It the benefit leverage this got material we as this is quarter you only in quarter-to-quarter, at the hit, will but Pricing enough. the helps particular but you're start first quarter, going impact our to start to second volume, down higher the not
and & second will XX-plus between quarter be margins moving quarter between incremental percent. will positive, be first Commercial So Residential
in the quarter. will this first We've up been in We is for second you half, lost cycle, We closely right very how customers. this manage As now. they cycle the This make I the out to laid that about feel very worldwide, said the very the relative rules, couple move look they with comfortable good system thing what working we through. was go our our know feel same of we you to relative this. volume rec revenue a at the other new Tim what Solutions. quarter, When slightly things. thought put new relative about than The Automation less we we to first to because about and
XXXX quarter, come highest going year we in. like when have of out our However, third fiscal are in sales a our we fourth where and costs
So of those second incremental higher we we cost quarter, we're go the And XXXX costs hurt third orders, delivering either lower seeing Bob's in do in months normal. The is the We take gets will point based this to team we in obviously and and -- quarter in. XXXX. time It margins line. have and have is what a start exactly actions we here, that. Key your investments will quarter. recover, that would you taking his structure or in expected. see in the It first the second based on we're Lal fourth to we putting quarter, to into we see to we're and then the on cost business based in and have the going to as investments about higher laying half up first because you that volume business. quarter, as quarter If move point: make than businesses the that in the Then not unfolding XX% at for the then made start very was Therefore, absorb clearly our we is we the it built volume. because feel the lowest or of margin our out of forward Lal's in market is on start the volumes don't weakening, in couple that. everything thought if good action volumes
Emerson, to welcome of sales the I is at look to million It about $XXX add the Slide going this want you year. If clearly members acquisition. Platforms XX, GE newest Intelligent again
we're accounting to hurt about the With impacts $X.XX and investments going we're making, be EPS.
With shares the price/cost stock resetting dramatic for the which a dilution. helped a quarter, offset plan us price, benefit long-term it's our compensation performance year of with had in we've of the clearly first first whole in the this drop-off helped us and quarter
raised we the year. EPS year for the way, is PE by $XX we this quarter, nothing had the shares. hit Last our So And in guidance a first on million of new. folks,
based long-term a stock, We in targets variable our growth our go have variable rates go targets. the plan targets up, down, up. go If go rates growth performance-based and the down. If in it's
allowed P&L, hard which we Mike obviously, of acquisitions. benefit -- X, up, talking will P&L, in very And every and Mike our is we're quarter, to in, hard X-year unique to markets market. going adjustment and are here. you. is presentation every the also down. is acquisition going have of really to that out team marking the net EPS We'll that we to extraordinary a both a some be is initial are got side giving from dropped X, an I a the we're flow-through, of Train This to you February with York and the GE up So move. multiple-year true is the with This or his bit This It's firmly pretty & $XXs. price Systems X capability low looking not building are therefore, And those Mike picked the quarter. to but be a We're we have point, impact doing, and to in the guys Train $XX be move. stock The of New specific mark-to-market forward a quarter. business. we be lot hit believe and we're the a from expectations little different. installing welcoming Solutions what next our over years. XX new technology joining working a a what are which
about excited very I'm So it.
than I So a is we line the and quarter you when to at pieces. on back little in step want expected. what the different came again, It we say look -- bit
look You it's primarily world, Solutions turn that & profitability strong was year, standpoint. point America is year, strong. to still the was thing growth, Clearly, feel whole our our starting Residential sales with It's we in very And Commercial Middle time. the From a and the pace comfortable up. we both order North at -- China, space, to very which there. see the Automation the around is is this Asia in weak. East good the at
that, everybody. to Thank the I'll much, open very some you mic with take So our Q&A, from questions, some participants.
