double year-to-date. Thank in in you, earnings Dave. Hubbell Good with on be growth you everybody. and quarter, morning, some X start Good performance double evidenced strong echo I'll digit financial Dave's all. free flow generation in and to comments by Page cash by growth digit the of
drivers portfolio. were; the number balance product in most performance strengthened I standout number execution; and two think of underlying the one, two, solid
side, cost expanding and which saw operating price good you execution allowed the really margins. On us profit management, led to
next margin generating. said organizational for strong changes, increased saw restructuring, as You what we about investment can cash you saw us design well think get year underlying sets really And us management, beyond. and which the as help inventory of which what Dave really in up expansion flow some helps free
and really strength strong of the was on work didn't talk But talking have about. the balance the we've weakness, Dave evidenced, That business that market really we've years The have oil result business in done before. was strength where of some we main strong is had markets Where over utility that about we'll in development attractive have the gas. the and but weak we an gas some portfolio the page. might to built you some saw next that several last impressive commercial meter some
balance financially the leverage operating in system. portfolio. results model good throughout our that the working So And is that is in deploying
growth, X% driving driving So OP X% growth. XX% sales you growth see per share earnings
we model So works when like way. the that
bit little at about mix let's markets about. On some a Page of Dave X, talked that talk that
see overall of that Most to You sales. X% of $X.X growth priced. is billion
softness need projects trade-offs. you gas gas outside there. see in you'll second to see very in last business. the from half infrastructure. some second quarter, So the oil. And weren't oil say that counterbalance the backlog in leading There some mile implemented middle gas demands see real was of components in some will it's the Notably, expect the got and from experienced and the price. the utility we've reasonably improvement lumpiness to flat some weak customers there, really put you strong the But oil of distribution some and the I some and
On Reno is relight and flat. can reasonably you side, the non-res see how the
think evidence and experienced had construction where some modestly. some saw our we of We New businesses than throughout evidence we that growing the of de-stocking slightly well less channel.
expect We de-stocking quarter. point-of-sale where have some into data, to the And the condition have improve half. second insight that and instances second we bit a in see where we happened can we throughout little that
the highlighted, distribution Dave transmission some Electrical us growth. as gave robust markets really and But
of capital their our programs. certainly help On of see the drove performance networks we saw customers side, distribution some the utility projects we grid implementing on transition that. And through that of customers larger side, improving
with was X%. that markets the and So an all net price some of mix organic of result growth there
of see rose noting by X, expansion about XX cost optimization you'll implemented. the On And points team cost adjusted The income footprint is being is $XXX million. XX welcome there. margin points driven margin price that worth really a which absorbed in expansion Page quite there, basis of management There the it's X% that operating new. to we
that had investing, to that talk chosen some how margin couple underlies more harvest, take seen is we of of we But you'd feel a advantage footprint in have we'll So pages. expansion. just it to it about think important I of and
to growth earnings XX% $X.XX per share. adjusted see you side, earnings the On
While came two-thirds year about business. Really as discrete see, about of the XX% you last taxes profit high did from items year to operating from a XXs our effective improvement with some side to moved of rate contribute that, that tax of helping. this
So from the good core. contribution there
our Starting two wanted we'll to our start on and Page and Electrical. with breakdown I between switch segments, X, performance
growth of that quarter. dollar. a in modest offset $XXX see good Price some million, you'll with was So strong quite FX organic the by sales was
soft. And the were you the units so result see can where
to to -- the the we But talked improve bit with in that was of a the second about soft we're slightly backlog, we improve saw the oil, some second included reasonably businesses we softer The areas little mentioned in again and that that weakness little there. as half as the but may half. were expecting some destocking bit we the that thought well. Some of commercial well, a contributing that, which
income So points. basis declined XX the operating
$XX XX.X%, increased million. footprint more see You drove than The that. expense
the despite expansion been we've the pulling Electrical effective we there. very would So price again, management flat the ex margin seen that cost of have through because sales, in restructuring,
the really, systems quarter nice Page really team. power by X, we our to switch segment, Power
$XXX million can You to X% growth of see sales.
breadth in that there's one, Importantly, between we power to Aclara, systems of and contributing really each our skew organic implementing products reputation for are Number very things the well-positioned power And We systems a right going utilities think X% that performance. price. do We with lot their there's upgrading we're think right market have segment legacy demand. the and our the there quality given balance having high transmission business and systems demand here. projects.
us fair customers it our customers. that fits with that our market so, power supporting that safe, providing to reliable affordable given share their of demand And very and getting feels our well value we're to proposition in
the good $XXX sales to side the $XX and can leverage our XX% operating increased operating so expansion quite of income, profit And million is down again you basis and points. operating see where margin and
team have getting You behind the where the up are cost is working for year last got inflation they leveraging the the bit One little both a on experiencing. And higher is you've really cost. got fixed levers you price were based volumes nicely. benefit, making
growth incremental margins quarter. attractive, So, the and quite high the nice is result
So by power. good performance
Page X, the the free year. to six the flow cash of first we months period, for year-to-date generation get the
can as with and income, working about a driven XX% capital well to increase $XXX was You performance really That higher see improvement. million.
and side. receivables inventory the You on saw side both the
out free target with happy in recently, have reaching like while of us had quite cash this for all some mentioned set it is getting and of we our performance. XXXX. XXXX year XXXX feel we're fact targets. a you So million flow We schedule which ago puts that full in $XXX flow you cash ahead of And a to
remember about $XXX may did last You we million that year.
halfway get this to year. to So $XXX cash to and flow really $XXX good be up million of push and get it'd between try here million,
see terms free conversion of ratio You'll about that historically talked cash flow of we reported typically net in income.
burdened by Our charge. reported this quarter was pension net non-cash a income
without so conversion went ratio flow. that generating any cash And up more actually
do maybe adjusted it XXX% little of its think insightful net adjusted felt tie we we'll income. a net to we So to And better than income. more
sheet balance cash this helping really And flow our is lever.
cash times. As on up position. times February acquisition of We've you last We some X.X debt-to-EBITDA had took built our also got it down of all know, year. back February over we to then. in in We've X now debt
net debt-to-EBITDA at our So is around times. X
you so know think the acquisition that well program. to $XX and back each million-ish do support year. squarely to all XXXX in million-ish, think acquisitions, expect on to I adding this I'd us balance the those And namely, us of And those program return position of few pretty for got the $XX second puts I in us that sheet half to a
On Page and about and wanted And Gerben's XX, we're the to investing it add little over year, next about a optimization. this But Dave Susan's $XX million. talked talking I to context year partnership here. about footprint
the take We invested see square warehouse roughly of footprint about of manufacturing about got expect million pretty be of them this a this high really to cost way get the projects facilities. be This out XX idea northeast are trying million we've largest our and on closing projects out feet, two year, XXX,XXX that square year active XX to the foot out list, to can And half two And you about XX% year. goal, four space. or would year. are indicative, get to of that
The other are two facilities. subscale
so and per have up. other our we facilities advantage can take have margins utilize effect we've up of sales we able got And where our footage common and square the processes. to that getting and already gross competencies And the our square foot we're
runway really projects in fact, attractive think continue So have to have we think build And here. that paybacks. still we we we
like so will beyond likely And well. XXXX I this program feel continue as
to on second outlook. to to quarter, that going hand our with Dave comments discussion So of you back give it the I'm
