Paul. you, Thank
of review a with our our begin key updated will financial for we We then provide information outlook will XXXX. and
of our segments. up quarter sales $X.X the each in of Our were billion in driven X.X%, first improved sales by total business
margin factors. improvement to negotiations, higher and gross compared mix. their increase relating ongoing in the for margin XX.X% Primarily pricing initiatives, and to with product was Our in margin supplier industrial the reflects and in our the automotive XX.X% favorable quarter XXXX, flexible margins sophisticated businesses more to several strategies including global due
increase in improved volumes pressured shifts and customer on a for margin the due these Group, product also Products Business mix. segments impact addition, In gross to in In supplier positive gross incentives unfavorable was margins. the our due to had
with volume assuming in inflation to we reasonable our materials, our total margin of forward an increases remain gross incentives. to continue costs. inflationary and levels run freight tariff quarter and The X% on of expect rate, pricing with commodities remain price each relatively supplier rate first businesses having to Moving in current raw our X% the XXXX line for our consistent impact environment across
would pass price that protect to to been And market will wherever net customers of positive to levels continue our the along to we current allow. the say results. conditions our a our increases margin profit have inflation our and maintain We to gross dollars gross
the We expect balance XXXX. continue through this to of
automotive, Our by purchases in increases X% thus one our industrial have X% XXXX X.X% half supplier in of price impacted in in and far office.
infrastructure including core last in our $X.X effect were and as of lower to to a up of other of result but SG&A, such as these first XX.X% expenses in the loss To year related IT leverage sales. of continue and sales. towards cyber Turning as security, and ahead. operating our quarters work their several rising areas as offset effective in the factors represents costs, and we the increases, costs costs quarter were slowdown expenses freight payroll, delivery, a these from well These billion Europe highly on in the in the to
Our plans our drive all operations. solutions, our productivity include drive will and that to consolidations, steps acquisitions facility across to other initiatives effectively integrate efficiencies
We from ahead. these the quarters control our expect measures other to benefit across operations cost in initiatives and
in $XX Moving statement, Auto change to currency expenses earlier. line. we other The down would this you non-operating to the divestiture primarily realized of Todo the income loss the million line noted the point related reflects as
the segment. results by discuss Now let's
of year, was from margin operating quarter billion, million an our was down XXXX. to X.X% and up X%, of automotive for revenue first Our the margin $X.X is with X.X% in quarter the compared prior profit operating $XXX X.X% the first
line, see of ahead. improved impacted while we our And So to Europe. operating in margin continue rising produced the said, also to of the several on in automotive we're were seeing deleveraging by the and our be expenses by expect the operations With gross impacted in improvement more quarter costs. improvement periods that results we we
X% increase Our industrial XXXX. sales quarter, in a were the solid of from $X.X billion QX
X.X% gross with industrial leverage the from the and remain been for basis well margin due increase second and to to as head improved point Our margin is X% the consecutive last to ability operating expansion quarters X.X% The XX operating up strong their quarter. has million expenses. we $XXX into profit of operating our business and nine year,
been X.X% business their revenues operating is slightly were from quarters working pleased hard products X% prior few this improve XXXX. business operating profit million million, last We've we're is stabilize Our results. $XX the which of sales, the down $XXX to and over year their of from and up to
on increase, follows year. company a the was operating Our X.X% quarter quarters two of margin profit to operating profit margin compared sales up first and X% in consecutive This total last was X.X% our the first margins had $XX again prior in We expense in interest of we year. was the flat quarters ahead. are of which and planning the net quarter, the quarter improved expansion million for from X% first
continue we hold to to $XX to full million to in interest the range Looking ahead, steady the year. be for expense net million expect $XX and
first the $XXX in Todo. the range to of $XXX corporate expect $XX depreciation sale our full basis, we presented million to amortization and in was $XX expense year. was and continue we of segment approximately Auto to our costs a and expense information amortization of first quarter, to the $XX expense million depreciation represents total quarter with we for primarily in and of which includes transaction related $XX million. the On combined million for Depreciation the release $XXX the and expect million other Our XXXX. for $XXX to million which XXXX be other million Continuing in for was year quarter, $XX expect press amortization first the line the million million
our is other improvement when corporate we costs, costs which in $XX million, slight transaction was XXXX million these last adjust expense Excluding that reported was from for year. $XX the a and
in XXXX, expect $XXX be to $XXX range. continue million million to expense corporate our For to we the
for XX.X%, increase rate the for from was XX% rate the prior quarterly which rate tax year. Our the our likely in the lowest but first year, quarter is an
the year tax For rate to expect approximately XXXX continue be to XX%. we our full
sheet Now the and balance let's turn to excellent remains condition. in which strong
Our of from the year, is our billion with the prior the receivables. for this up compares first We X.X of our X.X% pleased X% accounts sales increase remain receivable quarter. quality and to
March investment This current March from the was at of down key year. billion, Our levels X% we maintaining move forward. core was our businesses improvement on appropriate as $X.X and in the to focused our last positive inventory the initiatives at which improve remain reflects impact inventory we XX of levels this
our AP the mainly well in terms billion at purchasing March as to partners. key $X.X stands improved XXst, payment inventory of is ratio payable accounts XXX%. volume, of benefit Our with the due X%, as increase up At to global
from of capacity current from with remain debt strong $X.X and $XX quarter, continue sheet we have in financial in the March from slightly maximize $XXX support to million and in in cash a expect at we Our flows for in generated And of priorities our structure, These total shareholder comfortable growth $X.X and cash billion to up excludes last our line ongoing billion of year $X.X cash dividend value. the which the operations capital our cash we priorities be billion use the and XX, operations. serve $X.X for first to support XXXX. to effective to generated billion which cash and is We are with expenditures estimates to solid million allocation. continue initiatives the ongoing $XXX the range to free balance the capital debt future believe XXXX, our we million. In flow, for and
Our key priorities cash dividend. the and repurchases, in acquisitions share our for businesses, remain reinvestment strategic
dividend, XXrd increase paid marks the consecutive shareholders. Regarding the annual our dividend XXXX our for to
our of expenditures increase and is earnings, in facilities. invested from for And million in was to $XX in first in of adjusted a is areas planned for our the XX% from our our in which XXXX This continue of XXXX, productivity the full plan such dividend line in approximately in $X.XX XXXX. with X% reflects payout Our capital represented as million capital ratio. quarter range we which expenditures year, targeted $XXX up increase technology the and We the investment XXXX $XX million. in of
repurchase. far as shares investment repurchase have in authorized program, XX.X the XXXX, active we expenditures. and Regarding as program opportunities, been our with such any we share million other under M&A not purchases have made Thus available we have capital and currently for
shareholders. program and in to provides be return to best active forward, continue dividend investment as an to Moving believe attractive with we is the our the expect stock our combined that the we
our XXXX. let's current Now outlook discuss for
earnings sales our established are XXXX in year full We reaffirming and February. guidance
our our several market factors, the the across foreseeable conditions based and quarter, growth initiative Our including for on performance in current plans outlook our operations. and see we the is first future
In estimate to took impact account a currency for dollar a strong addition, of X% U.S. headwind full we into year. the and continue the
similar expect the which again do this Although first quarter. to greater the quarter, second than we X% in is to be
year. selling up make the XXXX quarter for additional account less day this to in relative the one quarter first selling day outlook one the our Finally, for third to in
XXXX of X% or X%, in plus plus from plus we X% our X% factors X% these before plus currency total mind, for reaffirm headwind to outlook sales With the translations. in to
By As X.X% is total continue benefit X.X% automotive or guide we to growth growth of X% our headwind, to plus impact total to Business future segment, plus the to any sales customary, plus the segment. approximate this and plus plus to sales X.X% sales the currency acquisitions. guidance before flat an Industrial X.X% for business, X% excludes segment, of Products for for X% our plus
$X.XX, in which earnings costs of also headwind. reiterating On expect side, outlook diluted the or be per for the incurred transaction adjusted the the of quarter. of and earning the other first accounts per earnings for before We're currency X% our share to impact $X.XX to range to the $X.XX $X.XX, we share $X.XX $X.XX, in to
adjusted well earnings excludes costs. other diluted per first future share or any as any as Our transaction quarter
that to as our economy. show optimistic provides opportunities. initiatives underlying remain through in and well growth management as industrial in growing broad us our the XXXX, same with for the platform, of are We potential to teams progress near-term fundamentals plans have long-term in challenges confident and We slowing business Europe, and in the a which the the successfully additional place operate
were better the progress And it us our over results in important in to line that back pleased that Paul, plans areas So for update. quarter. our completes that I'll the you. several report we turn for with made position we're future. financial And to
