a second summary. the X% renewable principally and equipment, was and in Renewables I'll Orders $XX.X up with Oil revenue X% strength X% Industrial driven revenues Services Larry. the on ramp, with primarily flat orders growth by reported, up segment wind up down down and basis start Thanks, in were X% of was & but reported Power. quarter was the X% Gas. onshore with up Consolidated quarter. driver biggest in organically, which The organically. organically XX% were billion, Renewables
organically. X% down basis XXX Year-to-date, year-over-year organically. basis the in revenues reported XXX down margins up quarter, and are Industrial X.X% Adjusted were profit segment points points Industrial
a to As this and Aviation, is which I'll by Renewables and mentioned, shortly. in significant cover Larry declines lesser extent driven Power
not was tax quarter, unknown. loss, previously in was returns. GE which $X.XX reserved And a $X.XX operations second the were our U.S. was their adjusted operations, though $X.XX $X.XX negative Capital. with as This with EPS specific our and in had a completed these discontinued unrecognized and the quarter continuing tax benefits. IRS Net earnings for GAAP in filings We of in income decreasing which was earnings share income the In discontinued uncertainties resolved had tax plan XXXX that per impact associated XXXX continuing timing the were XXXX audit and EPS routine includes for associated $X.XX. impact
sale We Power. On were had our $X.XX EPS as BHGE's of plans losses, on Walking stake, corporate and of to from charges of restructuring other and unrealized incurred of Non-operating from partial principally Wabtec in the a compressors we market items, business. pension and equity continuing our $X.XX. quarter. of in GAAP mark $X.XX benefit held-for-sale mark $X.XX the negative reciprocating well as remaining primarily other
Lastly, impairment $X.XX we goodwill charge. a non-cash took
Grid fair the were and the consequence and value Grid its value, the services services we business. business of fair the in based there reallocate two on business was associated with a and of values business. in remaining software the and goodwill As carrying impairment Solutions goodwill separating realignment, no below The relative its businesses of required this the to Solutions resulting goodwill remaining equipment is the equipment
EPS the adjusted was items, in quarter. these Excluding $X.XX second
free Boeing impacted non-cash cash. usage and to by $XXX to XXX timing and billion, for billion prior of totaled collections primarily flow capital cash Working the organic lower depreciation was and accounts after the goodwill amortization quarter $X.X $X from MAX impairment. adjusting than negative, down sales was was Industrial related the billion the million of year. receivable, a which by for the growth. $X.X Adjusted Moving Income, driven
continue a of $XXX as we million, Aviation assets build also on extent primarily million. principally lesser a negative source and of onshore commercial was second Contract a Inventory Other to driven inventory usage engines. for taxes. cash by $XXX higher were cash to of was shipments, wind CFOA half cash
is which capacity GE, million We also $XXX or and Renewables $XXX in in million Hughes slightly, Aviation. about driven CapEx up by spent growth ex-Baker investments
including free saw as MAX $XXX the the billion, was flow of cash flow $X.X cash from onshore and what At the the in half, ramp second impacts we quarter negative pressure year-to-date XXX down million. same are the grounding. wind Many
This Overall, restructuring outlook. across running performance to executing in execution the ahead of lower to generation timing, is and and working a cash segment Power as prior our impacting largely lower our costs. due collections mix project attributable at half, of both as projects attrition the and capital from cash is costs first improvements, disbursements at well better-than-expected
MAX and $XXX million our cash per million the by or the $XXX planning, it scope about previously impacted was flow quarter. discussed, of originally As our outside year-to-date
$XXX aftermarket Power at quarter. anticipate more sales, second However, a Aviation. remains grounded, discount the we performance the for pressure plane improved the as services negative cash at better flow billings million outweigh of impact well payments half, and the In half if than as per roughly timing of first
the businesses as such are items transition, matters, from global the billion potential at year, anticipated XXXX items mentioned. difficult settlement for transition variability numerous Industrial restructuring program negative equipment-focused period-to-period to cash chain substantial that to full as Larry as watch free X. large of outlook forecast, and was the reflected supply for our finance Looking $X legal the well recall That legacy guidance original flow the our
positive earnings, in to our confidence improvements give visibility $X cash restructuring half, guidance billion. lower the and negative $X along us the at to flow with year industrial Power higher to However, better billion free full raise
we Hughes liquidity, second the with Baker $XX.X to of Industrial excluding quarter Moving ended GE. cash billion
a $XXX cash dividends cash approximately paid free flow of billion, usage Industrial was and on $X of quarter. we million the in discussed, As
principally includes from change were items settlement of Wabtec related cash from debt. All fees million, $X.X received $XXX million other We which taxes used Wabtec of other and another net reimbursement us to cash with owed Capital, the We fund the transaction, the to was of billion and of to a DOJ. into $X.X contributed in GE WMC dispositions. and billion $XXX which the of source cash
goal second average from about with line XXXX In billion billion declined to $XX our quarter funding reduce funding, on about to of this needs quarter. short-term ongoing short-term reliance $X in the
intra-quarter As in deleveraging goal to disposition get levels subsequent stated, short-term to see while potentially plan. But these in funding is we timing. our of based quarters fluctuation needs on our $X we billion execute XXXX borrowing could about some
As it low our expect to leverage toward the relates XXXX, of interest despite we to targets, goals progress make rate leverage by the environment. significant our end
best of and economics, considering deleveraging, mix optimal the for evaluate to risk opportunities continue structure. mitigation We capital
XX%. services orders XX% up $X.X Power, billion XX% down were were up organically. times down equipment and up of Next on but with Gas orders reported, reported Power X% X.X
growth turbines and second strong aeroderivative growth contributed the have to for billion. execution lower orders Gas which quarter equipment, units, profitable risk. of We Power of This up gas is represent orders four booked X.X which was heavy-duty XX which the backlog, and X% for to gigawatts $XX
portfolio continuing were said, second restructure by largely That down no down XX steam the and we're XX% systems XXXX. for year. gigawatts a and XX% Power unit order orders of nuclear with driven market power new large to organically, steam at repeat quarter gas the XX in per reported to
and was five down down four reported X% seven the gas units and revenue quarter X% second expectations. respectively of shipped versus billion $X.X organically. our We in aeroderivative line was in XXXX. with of Gas heavy-duty revenue and in the Power quarter down XX% Power seven turbines
volume transactional the XX our customers to in on to over up, power than more helped added due with operation mix part revenues gigawatts Power We of Gas by grid. and commercial services revenue almost outage units achieve down second in services large X.X offset revenues the the was quarter. contractual down and XX%
largely was organically. impact X% profit volume the the of and down X.X% dispositions, in of was Operating Services. $XXX due revenue were XX% in Power portfolio and quarter, Power margins reported million down segment productivity lower to
progress Gas our to productivity fixed on and area At versus $XXX cost of year. years. by Gas beginning meaningful the we're of also the X,XXX we over cost net making two continues plan million the reduced be focus, employee Power, at Power next an the Variable reduction count
and end by decrease than XX% of We number we exited offices on nine track first the by to by and of are the two XXXX. one-third offices in half than more the warehouses more warehouses and
down At up margins $X.X of XX% reported organically. on basis down million the profit were half, a $X.X billion $XXX down was orders Operating XX% was were reported down billion and of Segment organically. and and X% reported XX% organically. X.X%. XX% X% of Revenue
few the to high a into full just We and digits to track of flat are now cash be segment revenues to single on expect only turnaround, we flow down positive quarters down we instead free down are while year margins. deliver Power
and services results is Grid as as result of cover in Solutions the today. this we equipment a And business realignment the reflected included in a Renewables I'll and the is Renewable reminder Next posted Energy. now
of Grid XX% Onshore the quarter. For Solutions XX% were wind up mainly billion U.S. two reported Renewables Renewables $X.X were reference, is orders times. XX% up revenues organically. roughly driven XX% of up the by up and in orders
by Onshore organically. line XX% up have of equipment XX% We up strong mainly expectations. in stabilizing Revenue reported, with wind $X.X XX% was billion reported up were observed and our pricing volume. sales driven
decline as JVs Solutions, these generated higher in $XXX quarter of large the The we is and offshore in and prior fully began consolidating part down due of million of negative operating segment to XXXX. fourth an year losses hydro legacy margins wind Alstom X%. were business Grid million, versus $XXX loss A this
faced In addition, pricing. partially in Pacific, losses headwinds volume. and contracts, and Cypress legacy for challenging productivity onshore higher investment and the R&D project on execution we from This tariffs by cost offset Asia increased strong was Haliade-X,
Onshore quarter and the wind was profitable. in year-to-date
Based organic we we for expect Solutions, the on are ramp, half of revenue guidance remain and track addition the to in the with expect quality growth year XXXX. delivery on and of the be Renewables full margin Our Grid in top negative second delivery. to priorities the rate double-digit
celebrated Next significant XX% driven a down down on in quarter down engines were where billion July, commercial Aviation Equipment XX%, XXXX. years $X.X GEnx we orders reported orders XXX four as were business and X% on of XX% by organically. in second the orders of
up Airbus LEAP orders LEAP XX% Service both were on for engines XXX orders grew and X%. Boeing airframers.
portion in by billion, of $XX to Show. driven grew sequentially billion a $XXX the Additionally wins Paris part at backlog up announced the of Air X%
X% shipped and by engine CFMXX this of XXXX reported offset and driven We versus Revenue second by the commercial up, revenue partially billion quarter LEAP X% X% engine, grew quarter down organically. engines in XX%. Equipment XXX $X.X was shipments XXX were of military.
equipment equipment X% X% down of driven brings up timing the in revenue to Service Military our guide digits year-to-date timing commercial XX.X XX% spares with to high double by due driven spares this million rate low day, in grew deliveries. total single was year. by up The rate digits services. our and per for the quarter line was
profit XX.X% X% basis billion improved points Operating offset year. the of reported by prior by $X.X was Segment negative on in partially price. margins XXX mix, versus quarter the of contracted reported down
XX dilution by The was prior margin points. CFM-to-LEAP basis which the another Passport and quarters XX which driven was as basis the rate was engine in primarily points transition, shipment,
financial the included David certification bad additional no GEXX is you There customer prior Show. charge on as headwinds delay at Paris and Air debt change guidance. the a one position on to a challenging Additional in cost with shared
high We're approximately XX.X%. XX% the segment still Segment revenue X% Revenue year-to-date XXXX. results. track Aviation were in on at up and of deliver to growth Looking organically. single-digit margins margins was
X% up down up orders reported equipment up X% were Healthcare. X%, organically, and by and up offset by X% Orders driven at X% Europe up down of U.S. and partially X% with Looking $X.X X%. billion the services China
line closure were On U.S. basis to Solutions by and due services, orders were up offset Healthcare by largely and imaging driven order flat orders Systems organically Care a organically. Sciences product Life Life ultrasound timing. in XX% growth
billion and organically. East, growth Sciences up with America, in revenue Middle the XX% X% offset China, systems was in pressure Revenue the by organically of and Japan up up organically. strong reported partly Life $X.X imaging. was and Latin in down X% U.S. particularly X% was Healthcare
X% XX Organic Operating services profit up was offset inflation, design productivity. profit by points. productivity, XX.X%, reported Cost margins investment. basis X% engineering, and partially driven up sourcing and operating by growth and million driven were was was segment of execution $XXX organically on productivity program by continued and tariffs volume and cost
Healthcare the which mid-single-digit and is to XXXX expansion. margin growth on BioPharma outlook, revenue of track deliver includes organic
& Gas. results Oil to Brian ours. will financial following with its GE earnings today and morning. Moving this released their Lorenzo hold And Baker call investors Hughes
of loss and primarily On continuing lower costs million sale including year, generated net impairments, prior GE investment, year asset equity of which earnings the operations the to management due EFS and in of was to Capital, partially lower $XX liability lower by favorable an the asset a timing non-repeat prior due offset base versus gains reductions. interest quarter, of higher actions,
billion of billion year-to-date liquidity; quarter, the the second approximately investment and We is totaling $X of assets, approximately billion quarter gains. by million $XX sequentially, in asset on of reductions with completed insurance GE up and asset XXXX. reductions in track Capital to more by $XXX execute activities ended unrealized driven than $XXX $X billion excluding
less alignment asset which debt-to-equity sale, billion We held to sheet the will Industrial times have committed balance also billion for of shrinking remain not and offset XXXX. $XX is classified a lending aircraft other four incremental of and GE We our to businesses, than receivables growth capital to $X.X strategy target ratio and of as by achieving a stronger support growth. the which
billion billion the infusion offset debt the We of by in including GE with $X.X included $X.X to $XX.X DOJ, of was $XX payment finished parent was down $X debt billion billion billion the second equity to to billion in of contribute the which driven down $X half. primarily the Capital which by primarily billion Activity WMC quarter to driven plan in quarter by with in $X.X liquidity, also still $X We the Capital sequentially, debt, by ended XXXX, maturities. billion. sequentially, GE We total maturities.
charges the in operations complete the resolution offset WMC filed WMC XXXX-XXXX other related $XXX Discontinued efficient April and by trailing the for XX costs. million, to resolution. Chapter of years, bankruptcy and to driven file for bankruptcy the to audit orderly earned mainly a IRS and partially an intends plan by
As earnings. lower we we second sale lower and by asset expect lower gains to look earnings, out base half, driven
also is our which the insurance annual deficiency completed perform We of in expected to will XXXX. quarter testing, premium third be
due were and for corporate, matters. $XXX versus year, At to primarily operating costs health existing million, prior adjusted up accruals environmental safety
$X.X $X.X of billion to net for We costs year. are retained full the still targeting billion corporate
However, we of the range. now to be high end at expect that
from corporate-managed reduction starting outsourcing, with of count Today about our from more point remainder businesses two-thirds than internal from mid-XXXX, to of about date stands attrition. head coming restructuring the down transfers and the at that to and XX,XXX, XX,XXX in
exited line have X,XXX head bottom cost most is the real corporate is, count out, year-to-date of in which of results. segment we The reflected with about
have to million segments on reducing less and accountability net XXXX. to As down continue the and by to a costs remain $XXX we said last to we but long committed push than retained rightsizing corporate, way control to quarter, go corporate we
I'll it turn to Larry. back With that, over
