Steven J. Strobel
and John, morning good Thanks, everyone.
the As $X.XX tax tax mentioned in we've per of the $X.XX diluted of related quarter year. share new the special legislation. to These a net reported including share in results items, to release, GAAP earnings press in first diluted per reflect prior benefit reform U.S. after-tax compared $X.XX
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to the constant grew first geographies. advanced briefly Starting Strong revenue, a revenue reflects $XXX X%. me basis, let XXXX revenue multiple continued financial increased fiscal of million international momentum international P&L walk performance before X%. outlook. currency Domestic increased while revenue turning with On quarter, X% for across our revenue the Now X%. through
growth trends growth in improving in benefited and large from Canada One Middle revenue some the encouraged where Core approach in are double-digit we Hill-Rom East, X%, driving by with of we Europe. quarter. our exceeding flat are competitive expectation We increased wins and our the
other As excludes QX reminder, nonstrategic assets foreign Mortara, impact revenue prior current both exit and and divestitures, may the we in of a year. currency, the core
the to in of increased year, Support only. on, I keep that I X%. on $XXX Starting a mind segment, address growth Patient Before business will discuss revenue each core while Systems, as was constant million currency comparable basis revenue with revenue moving prior
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to These $XXX XX.X% to reflect contribution and portfolio year Now Margin manufacturing efficiencies, contribution new partially improvement turning gross versus of R&D accretive impact. achieved improved offset while XX cost quarter. diversification, margin primarily percentage margin of with of however XX basis by the rest increased first continues basis $XX the from Adjusted as last the benefits launches, of adjusted approximately Mortara. headwind these consistent hurricane of million new record positive the created and Collectively, X%, of for ongoing of were a rental the within our from points. the R&D factors level points including to tailwinds the and and X.X%, of the a objectives. sourcing Mortara. revenue product surgical million SG&A lower business, long-range P&L, addition spending a X%, margins due temporary increased was
Excluding Mortara, enhance to investments, our to capabilities. prior SG&A flat Disciplined launches product than was management cost offset initiatives more supporting selling new and and marketing global year. the
Our stock-based lower than a our was adjusted adjusted compensation. the The of the discrete in compared including reform of benefit XX operating year. of tax items improvement basis impact tax expectations quarter last tax as of an of XX.X%, was reflecting margin rate result to and first the other points XX.X%
to $X.XX So, related benefit tax bottom of and as earlier, XX% to advanced earnings approximately adjusted quarter mentioned the share, diluted includes reform. $X.XX line, diluted per this first share per
are $XX off flow, This million. to million improvement with a of from paydown excellent ratio reducing $XX flow $XX this expenditures which of year. XX% cash million, totaled or leverage Turning million an $XX X.X. versus $XX more enabled to we cash financial flow totaling of free quarter $XX an in year, million, in capital for than our the last while resulted Strong debt higher of million year to is operations flow start than cash the free cash last quarter, debt-to-EBITDA
let outlook. Now fiscal the of XXXX quarter me conclude second and our full-year call by providing this portion
results to reflect stated press release, the year legislation. adjusted first full quarter earnings XXXX and tax raising U.S. our reform we benefit guidance are of new As we our in
Core full For the assets anniversary approximately the X%. the continue acquisition. revenue may to reported exit, of which to to currency, prior to currency expected and X% revenue, of divestitures, to is excludes X% and year, foreign date increase Mortara growth we X%, we nonstrategic expect constant of growth X%
be comparable a $XXX segment, revenue approximately divestitures As expected you revenue continuation nonstrategic changes to divestitures Core increase Patient PSS product million million digits, revenue stable reflecting totaled recall, is Systems collectively, the a impact constant may no XXXX and to to in basis, anticipated to Support single expected to On approximately $XX is the there completed XXXX. prior we previous are guidance. spending and capital currency of expect in in environment. our By throughout revenue low exits. revenue of year, contribute reflecting and business
growth For to is growth Front the core be while expected single-digits. be Line Care, in in digits, low to is reported mid expected single high to
we Lastly, of to approximately we Surgical sales. expand and expect for SG&A gross adjusted approximately of spending of standpoint, single-digit a R&D expect points adjusted profitability continue to mid XX%, margin approach XX.X% of low XX sales, Solutions. growth From basis to and X%
We $XX XX%, approximately reflected the benefit results. of million. the benefits a basis and remainder of of point a our now and guidance. basis first We for improvement other reform versus of our XXX for estimated expense approximately reflecting includes operating an expansion interest tax approximately tax expect XXX in discrete margin quarter rate points, adjusted XXX basis project tax including points prior This
Lastly, of shares. we expect approximately a XX share million count
So, guidance into to adjusted diluted legislation $X.XX tax to earnings reform of summarize, share. per of translates $X.XX $X.XX U.S. diluted benefit which the this includes from share, per
From guidance previous of million, reform. million year. capital positive diluted our was tax we of cash approximately to around approximately per $XXX also flow now operating the flow are cash raising flow of project share. $XXX perspective, Therefore, recall, free million, with for to and related now guidance expenditures to million project full we we $XXX of $XX $X.XX cash range a impact a may you incorporate As flow cash $X.XX
adjusted second $X we to X%. are and we expect share. approximately X% revenue for reported per of currency the revenue of growth growth On $X.XX expect increase a and approximately core earnings For quarter, basis, constant diluted to providing of X% guidance
anniversary as products, we half revenue accelerate new expect including Mortara we ramp to up As of and acquisition. second in mentioned last the the XXXX core quarter, we Centrella,
half recent compared benefit higher cost our half, in year initiatives. be Second, and Surgical margins, years, continued the and synergies, improved adjusted of and gross the consistent with higher first from to the from business benefit expect savings Mortara we second we to margins operating the as optimization revenue, of
updating XX% Finally, we also The benefit our annual press mentioned adjusted reform per going on prior the range forward result as XXXX. release, financial grow adjusted share our to of in to This tax EPS in annual XX% basis are we is compares in an the effective long-range through to expected approximately XX% XXXX. of objectives rate and through expect growth now compound adjusted to we therefore earnings to XX% a compound guidance XX%. tax
remainder may reflecting expect now approximately and cumulative unchanged cash benefit billion tax to this long-range reform during cash three approximately you questions generate also over million. guidance years, topic $XXX $X.X the We of to million flow happy free of cumulative operating I'm a $XX our next Q&A. have related to The on of flow and any address of remains
John. back to to over like call the I'd Now turn
