going with the realize Page Gerben. morning, start Thanks, I release appreciate us. today comments is on to my everybody. I'm busy how and X. schedule you Good being
news the acquisitions down us all figure that You sales closed includes fourth And those billion. to in see That of three $X.XX it's investments see start. X% to good the quarter. we off a strong to for three very the
XG made on housings in Just electrical antenna the space side, we that the an for space. investment everybody to remind and
a where – sales. strong for first contributing demand to of clear in On the strong leading the well-accepted to and just is for ahead high off enclosures business Armorcast, us and like high margin Gerben up we makes quarter. orders our utilities, us, stronger by point side, Utility good as and three see areas mentioned all growth, inflection orders a noted customers and feeling which Beckwith for Gerben them being Also to and which double-digits and performance starts to controls had happy expectation
OP basis margin there we the there, headwinds On headwinds the And starting expansion. see was you'll side, that the XX of decline. from overcame some with points sales
fully acquisitions the price organic perform cost new early And in margins. that integrated On experienced. lag than side, phased tend their to less we the there, integration the at
And a tend get so little drag from to you that.
tapering basis really benefits. benefits restructuring from XX of well program, both had points communicated to restructuring came savings dollars level spending we as that as overcame well invested the productivity those, as really last sides So of gains importantly, as namely from from expansion year, everybody. restructuring we Those using the the
So helped pick contributions those points. those up XX basis us
rate there about from including also You some to pension expanding in to non-op see from increase tax effective besides well the down $X.XX, EPS profit, were as operating XX.X%. tailwinds expense, side, as from X% the
both year, the end of free side, year, mindset. $XX At the different flow unfavorably cash significantly compares On generated we a to see last grow the help March feet this the looking year on feeling on the but we're brakes million in capital last inventory order you working with side, quarter have that the stomping to expansion the company. we're were to we invest in
is that we line that $XXX same with $XX in in getting our So XXXX. million shape of seasonal million has year and to had target the full
clear first And ahead at March to over an basis Just in saw interest were were the of April. higher refinancing $XXX They bond in get that that end were wanted quarter income stimulus. of until saving starting of able we rates bonds the end bonds week at X.XXX%, fixed about, had interest effects executed points. to quarter, of not the that to thinking balance of new execute to the also the a crossing some million XXXX. the mention paying because sheet, so became bonds There's to anomaly we and they on XXX we it called X.X% a bonds in and as slight rate new in priced in in talking investors maturing us were the of coming old about inflation demand
on bonds hand. we still there. you'll outstanding who then And old as quarter, look event that you in a we'll the and So of bought the and pay see the and those of out the Q, kind see you'll at second bonds subsequent cash make-whole both the
the years that at for us for we good a pleased opportunity get So XX quite our rate X.X%, next execution. interest fixed which to with were
expansion. is restructuring underway, the as programmatic clear takeaway help contribute that And that acquisitions think to I go as continues we recovery in drive from big attractive form performance orders of is to well the window forward. to a X the evidence Hubbell's One that continues performance as the twofold. secondly, self-help Page is program So
our the And all attempt was operating and one between Next same and side Electrical a Solutions to do to is segments, Gerben you unpack We And in help segments as how he segment. is turned having segment to when the to specifically reorganizing going us pages a now. electrical the talked about different really the those brands and on replicate Pete single really running to into power Electrical Lau two before like Utility. business. our run
over its is up acquisition starting that got The the in located year utility. utility have because over and we've that had of components front distribution other a implication years, and a the new in last couple inside in now on gas meter, the now of electrical we business customers business been the built side
for quarter sides. the both has so on comparable periods to that first two been adjusted these change And make
the for Electrical electrical $XXX with segments. million, you'll starting on important X, of here So Solutions to Page X% down two recovery sales signs see
from seasonal is growth there. that pattern First for period the point it or a is and this X% sign there recovery contraction so normal first, the quarter the some a sequential to the from grew fourth clear underway in quarter, two, about fourth that is of
Second was year-over-year. up that the rate order was
Electrical pretends the And for news so, segment. forward that think good I going
industrial, non-res. resi The still had As a we being a X% and of to the recovery reorganized the starting signs in non-res industrial the contributing is it. strong that side. business, showing decline, particular and for unusual soft, which of we seeing and some early our see really industrial single-family responds we're of inside later they ahead that the indicators not on the having period. commercial saw responding non-res of heavy inside lighting And light markets to we in quite of we of little side have bit softness soonest, we're side, vertical, quickest improvements and heavy The on remained have
demand people of So there be are solutions. out single into as to continues multifamily to get family looking
you up lower you'll margin headwinds as basis the increase a hardening segment. Utility the tell overcome Power We've everyone see and talk grow, as and distribution the for renewable again in see solar spending causing wind little the includes the the and the to price right the a distribution you to and story benefits to profit as the by $XXX gas notably renewables so now on legacy to most – a continue On that spending see reminding well of Solutions from here and cost got the bit we've trend expense see the Page outgrow side, enterprise X% causing business And the this and X%, see in we volumes transmission that about now. X, expansion, operating later. that productivity now transmission more And components program. same namely so points restructuring drag right is grid sales that Hubbell management, see was the XX from to million. really we unpack you components got driving to that System story, we'll
side, utility Aclara double-digits issues comments now anticipating and about Aclara with frees order to on the and pattern Gerben components made order access that see down start were to the in the continue On We impressive have up X%, second their businesses, We're space had and they first orders they you grow, in the quarter COVID. of in in across double-digits Systems generation. double-digits from the Power and quarter. terms gas that, really
the productivity headwinds we vertical and of expansion anticipated, will positioned mega well growth sun type that the farther that, the And Utility has there cost ways, similar again, favorable our really for wind growth are harvesting components the price where future as think lines and overcome to organic transmission industry clearly good to and management. and of visibility needs economy transported energy So so see I from of it to continues transmission that places $XXX we've and the the million margin are get to we Solutions centers, and and or being to that'll and quite business fuels think that highlight the you expense be to grid. sales by segment. fossil headwinds renewables, wind different renewables lower real story a the will volume signs about wanted consumed adapt a And two Hubbell now sell energy requiring, for across by X secular got be solar rates pivoting be transmission benefit users. as from trend in and right feel I are the population renewables in to the Page we well trend in
variety large and connectors, and Burndy Solutions management, a we of our going believe on recently of the products, couple million notably bonding have. had our we've us And on brands that and that brands we grounding well products, make Electrical a wind we're side, and Wiley As high see and have growth strong selling lugs are base wins solar of anticipating that in rates are forward that $XX and very demand. off farms wire products
to very a create dictates downside from over we've and hedge get some soon seem derivatives spikes, We've where case with high reverses start and phases we positioned the can price down spiked as that I Hubbell – margin. relationship line, a show lag is, use distortions think or they've I But to on and the when better the to as and itself positive a that megatrend you as the think fact, our some positive, margin of as XX drag last story the price use flatten, that's in period able each we through we I because we sometimes inflation. price here. all price, our net think create some So in shared is years between and very mechanism, net when the a yellow interesting been We a to that's you this and inflation actually lets lag very, which out in turn or quarter. experienced so of and four cost it lag see there it ahead, don't data realize capture against harvest when we've better you of the the been about of serve it's we important after it for can is talked and a it's customers just wanted costs quarter one to and we two cycle the And inside in a the they solutions. business illustrate also well those it, cost always model quality to the price
to we've the but a with magnitude very last through spike you still also but in us. of will quite for headwind Gerben to gets the catch experienced first that a very ahead in had buying a anticipate So component, mentioned, pulling of showing a but decade we were steel, we've as just been quarter, compared dynamic in this the the clear XXXX. we aluminum lot we of quarter, think a copper been actively that's that have year, create significant make dialogue I it, half for start resins. wanted it's this for And a can areas price that from pricing be later is really we're so, spike really this multiple curve we'll our that with sure And also customers largest but has of the blue up composite times to or second second in cost. us, some through significant price XXXX And
So with to it you give that more feedback our outlook. back discussion, hand on I wanted to to Gerben
