busy Page some I representations of what graphical everybody. has you are taking walked Gerben X know how so time got you appreciate morning, through. all Good with us.
in utility electrical the and about and X.X It about So price. XX%. growing you about of to see at to at got unpacks XX% That's $X.XXX four growth it's sales points acquisition points billion. it, XX% of got
a quarter I Utility for think a where we just inflection resilient quite down comparing little year. little fair total, a XX% little second over the and were us to broad-based a electrical more describe, Gerben towards this as last V-shaped more year, skewed in last highlighted. against So was a as
and other the than the sequentially better quarter to pickup about about billion seasonality. thing is Hubbell the is growth comment the from on first sales the $X.XXX typical think I So
but of improvement some with does Gerben amount recovery quarter XX% it's from some like it increase an the a and So it, highlighted of is not second dip, OP the just this bringing first also significant V-shape The that, like $XXX feels line million year-over-year. V-shaped rebounding is building quarter. inflation. last momentum from year's to feel fact
And on on of talk get that. bit the progress To segment a that making to we there, in of at hard look most we'll from the XX% to left share quite you about you And in our an get level. to little X, earnings good we're tax. see some so that increase pricing $X.XX, more a And from with help our per lower discussions. notably sales level working we're up increase that's as nice non-op areas, page line the had and
allowed rate quarter us we to range items of to cause XX% down mid-XXs, that the which tax in the rate XX%, to XX% come XX%. what discrete – in Some started to our would an have would from year tax to effective expect full
little Second points rates. side We bit this contributor mentioned XXX lower to last interest quarter. expense, bonds lower is non-op refinanced – a quarter. We interest about $XXX basis million had on the at of
lower the we're sheet demand year And working the the were capital XXXX, a certainly Last section the collecting think building of a context that interest second this here inventories. balance quarter benefit XXX receivables, comparison in right $XXX this in contraction sharp to of investing for were the not or quarter. cash the and it's rate free that. important that quarter, In is second about So we harvesting reacting of the And to to the strange is year getting $XXX of is. and compare. what in million, flow million
contraction from gone to have basically expansion. You the the
And we're receivables so, in investing inventories. and heavily
we which got plus million at in think us gets around free the $XXX This where to back half first the and I of which XXXX halfway So, year favorably We've year million of is of XXXX. $XXX compares $XXX of is the XXXX cash pretty to to actually million XXXX. flow target about cash looking to point instructive. we flow a this in level first achieved were full quarter getting
environment, story continuing strong track think on you last work to the to to year. a margins they our quite and we up got I feels inflationary navigate So were get of and where as revenues
unpack start page a because acquisitions. little performing I segment. see of X into segments growth they results the differently. sales. two electrical On X% the the think $XXX to though million XX% includes to from it's you with We'll That are enterprise rate a bit instructive
the good of by in XG of acquisition, about points price XX%. You'll really There's the the four remember antenna made a growth space. organic AccelTex us talking that about in segment investment
ago. year quarter the The down down And up. note end finding you'll next so, electrical is and at X.X%. channel any price we're ahead for through situation installers. increases. selling in finding they're about of and certainly of user what about about company that's to nature We're we're is the that we're the that XX%; that the prebuy ED flat average the The We that broad-based the the And of channel. next passing noticing a to was and channel it quarter now little bit segment these selling, and that along a most find receptive of then XX%; this XX% full recovery not notable. was kind The quite
connectors, leaning experiencing industrial broad-based. attractive is We're the as the noteworthy side device-type V-shape side as in strongest signs growth. wiring if into the showing end say anything So leading heavy positive selling products to quite a well. light of and market. inflection us grounding and Certainly, industrial quite our kind end I'd has market that rebound. But been
explosion-proof diversify components also worked and Our the they've And industrial like devices. serving been Harsh to as returned growth quite is & mills, transportation steel signs. with oil Hazardous business, are rail the which markets we've which quite which end good heavy serve as has well gas welcome, showing factories, they and based, to hard
year growth we point reno to at there. the the led side, business. non-res interesting a anticipating retrofit be think I We've the on had On some experiencing been little cautious the We're by started and contraction this bit of and side non-res.
new positive think indicators construction early are the well. leading looking the there indicators I as
grew -- So be business devices, of than not was and industrial resi all outlook started have quarter. which got our brighter it wiring to of the in year. continues year. we the last for And but strong. we've And commercial lighting non-res over through only there XX% was it the strong certainly we a Inside sort
So lap half, second comps to showing they'll but some the still there. in resilience have decent harder
you did to volumes anticipating of about ago, So restructuring, here. spend years followed beginning in The on are at job as getting higher operating about $XX the $XX $XX We've The spent us money the XX.X%, expand a XX% million. important. important. A work last great been restructuring year. profit million mentioned to we Gerben team margins million year growth that of this couple about investing $XX to quite million, to
think I both a enough to worth substantial tapering you're help some and may we facing. inflation projects the the that comment that it good headwinds the year but on last pulling overcome those effect of us did so that the were lens from we're from creating And And also benefits a And be getting just spending, restructuring. back lift. the
his capacity businesses think factories that our footprint. our spend continue good continued share efficient. feet opportunity out production we is the square engineering million feel the in the would X.X of see well. of take half ability our the service share $XX customers' I the under both manufacturing making year, half to sure over and to And more anticipated. XX%. opportunities as and of warehouses, about compete opening we up vertical side opening we on quite program. unified on different segment And That's had the taken comment our to described we see to analysis lot side We about continue on than needs. comments from runway And million Gerben we there. first say and I'd focus three to was collectively the ultimately in we have didn't a by leadership manufacturing good as warehouse rather become We've the to a
through spending a so first half electrical strong. demand back the as half. the the anticipate pricing until the increase Steel is looks most half second actions starting in increasing But show with steel. continue hopefully R&R of They increase showing And will maybe for we fourth copper to big seen third signs flattening increase the backlog an start contain to to it be in notably to outlook compared some of quarter. the and quarter the rollover still continue out. signs aluminum and like We've in commodities ultimately to
So continue price for we that. to
expand also our we've think I to definition. had
areas. who you know us and parity to we then that and to the productivity a like that inflation and are We're between price insufficient. areas in of those offset costs think transportation use non-commodity commodity in finding maintain natural try some costs productivity labor are I levels followed such inflation
by covered to on items margins. other into to The our to And encouraged price. by We'll need those get continue that offset utility channel's So and the to to sweep -- get we're bucket those the again, starting be page X. back been we've reaction. side
of and growth $XXX There inside four to see compares You acquisition three points utility to the XX% in of six price points points of that million. are price electrical. growth number
the water So, is utility for acquisitions business growth high you Those utilities more and deliberately customers the ED electrical enclosure moving a channel included margin. side. serving than electric utilities, little bit high in area to the That telecoms. remind
else set company's We also was also customer it engagement line called of very didn't our is is solutions of business a around small someone and the than infrastructure, worth and us. bought Aclara, sold of the We more that within from was here, to Beckwith business Armorcast. fit -- the which note to with maybe wrapping we well controlling
Utility components last T&D, Solutions our feel areas OP on year. modernization the to to improving That renewables very, there. into forth. and site seeing both The trends in this back year from invest distribution The distribution strength transmission nice the happy access growth fit. better continuing recall back communications. the We've use to between grow a components gas with the a distribution or the impact gas is can legacy sales proceeds material see nice and out conditions here the in margins had go can sales grid noted And by but last nicely you'll though no components better of continuing quarter. has we this resilient continue gas to Power and forward, natural those electrical that push slightly of distribution business. it We've unpacked in the Systems And very the trend we issues. and been going Hubbell some and spending mile that So old go little held
also site On that to and issues business returning access those the comms had we and there, as growth. have see had we Aclara, improved
margin healthy of of Utility situation $XX quarter. year of source Solutions. lower to broad-based a last second The here the comparable million year. area than profit to a last again, So, operating of demand drag cost continues at inside in is price be and
We've up about one which of quarter. second fourth in Our price already from three points influence is point will announced, the our the had increase half. first
very There's market we'll this continue we we as announce feel up I we're increases. and inflation from leading So commodity increases, confident of think other profile. restore those level that an worth factors catch as the starts margin certainly the unprecedented price number mentioning And we but here the our out up to two catch margins. be to that we'll in
Armorcast so they've and closed facilities I is we've the And our geography. having the we staffing it say in that Southern I'd six about a and months. had California mentioned. in labor January, the on It's -- acquisition First for endured turnover time that in significant hard very early located
it's So the been much it's on contributing line. though bottom not
we'll a about the XXXX. very we're and hard better half second for acquisition. working have up excited and And better set we're well so a And we're confident
I'd I three and mention of end at business. think where constrained. the business access Aclara, lines lines install. install there's inside had of The of three of That's you the driver been the is the the profitability to is, there the business third meters of lower the communications, recall,
growth of mix and the As largest install unfriendly. the therefore, saw be that level we was area loosened, being
OP utility. the are. those so and result pieces And flat think they that to for conspired segments in where two describes I And
chip in we're The backlog solid. more those affect on we're Hubbell so As and that's of the Aclara shortage note the side. Perhaps communications And the is would all feels But for demand of second the reading in outlook that chain utility, risks. about, the great place we watching think, of situations much feel about half. we closely. about some those starting supply contemplating the the our sort is that broad-based guidance
general. So outlook to I'd in you Gerben, turn it to the talk through back
