chain depths. to lot I down which has by third hope I the And those helped Thanks I . to throughout taking to themes this driven we I'm you the cost of here on highlighted time and primarily sentence, I consistent see inventories hear throughout broad-based with while the margin were key found discuss strong our X the I materials morning. would us that trends my very pandemic a been response in say, of doing execution everybody. supply managing you'll we've improving think, much, day And Gerben. the our we've going on website. appreciate support to neatly markets, the broadly Page you. If a channel, year. market enjoying performance from Good join price with about, discussing front quarter strong been start you morning, themes end try the and that our results expansion us that strength in the on you'll performance in with as to summarize talk comments absorbing for the
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think a on maybe I little stronger expectations, essentially little in growth. we lighter earnings about a our and So on line bit think margin, as profit bit with sales
maybe little a certainly differently, bit line expectations. So but our there in with getting
quarter see earnings, year-over-year And we seasonally year You is. strong of performance increase, cash those in a in it And obviously, million, strong the to the higher million trade fourth $XXX flow operating as XX% results. income but higher in higher $XXX $X.XX free investment very getting typically working the the driving capital. CapEx, of are is confident quarter, also
comments, flow I So think way Gerben's in you about multiyear trends. the thinking about cash talked were we
to to from And going cash million the $XXX So to million giving into great and $XXX it we're that allows 'XX, future. even our us talking million. 'XX about $XXX cash flow to because making company excited investing 'XX about we're to better earnings, lean us in flow from high-quality the
rate kind And X% Let's see X, now year talked performance graphically organic as start a out acquisition of going go We billion. increase about on under being lapped we've against of here. prior $X.X to acquisitions left being and we'll that. in data center to see acquisitions, PCX, I'm The our upper you just a had the Page to sales, X%. X%
and so drive So Ripple, the incremental space, were growth helping which utility mostly. in the from there EIG utility coming both component manufacturers is
On X%. the X% and was organic units X%, price were down
had we through. there side, where the more that a And bit we're we interest that, telecom. rates declines we've big X about on a One is effect there. can is markets the soft still for units, As we was second side, little medium-term resi and outlook the where about managing very think strong double-digit having think telecom expectations talk have end
customers, we end where done of units electrical inventory we're back they're a And the having that now, through down multiyear we pandemic buying balance during power us. an we to expecting target on response channel where we're out our rate see around driven to they're be by therefore, than forced side year-end. selling at overorder that managing manage said, actions to they're to market a now this Gerben natural kind to from to material But normal as come inventories levels, side lead end see in meaning the times to higher cycle to starting shortages at both our labor and and problems to is coming down, and from believe, being of their gap very our
think 'XX markets. healthy to with start look us much for year So pattern like should I order a more normal
think well we right, the as of dollars profit in versus due in new on and we're side, charts investments On sourcing, you upper the those $XXX the side, capacity a and trajectory in see focusing we're shared our innovation that as pie sequentially, growth margins lot side. expansions structure cost at and quarter, efficiency making, basis as see past some down where million increase quarter. look hard XX% to margin, margin the primarily a That's also for we're with second Interestingly, on we've on are the operating you essentially on XX.X% I material of expansion. healthy cost increase product our in where points making and of development, the we pushing the very OP
our supply So chain has as sourcing actually efficiency. and efficient to very as be well
have because profitable more as to we the the happy they're forward. in we going to make investments these margin us to we're go make So future think
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million be a month, has the rich a cash to us get think of quarter, will very And fourth which so drive $XXX very flow for October to proved year. over cash-rich going cash we
able supporting So cash to investment again, being in net that really position. be a X-year walking us
on segment. to now I want wanted results the segments. our Page to So X the I X, Utility unpack with start between And
strong another expansion. nearly margin X for operating utility growth of franchise, quarter in profit our sales in and X% see So points growth dollars OP you with XX%
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think and for effects driven supply both disruption by being more becoming chain a through minute. effectively that I talk normalized, let's
second, X So on the strong, pricing transmission; telecom. we'll of part T&D continues strong. to backlog about transmission components: side, demand be third, strong, The strong. distribution; and the very growth talk strong, business shipment first,
are quite we'll growth. growth continue that just where On of that there's to later insulator part to which be there's the some particular, there little are the causing have units these elements side, essentially. and be a arrester places particular, backlog some constrained In in on blocks, and talk shortages about bit distribution strong of MOV some
portion down distribution distribution we have little inventory enclosures. the in and and again than and bit palmer is parts come in Telecom concreting of managed and make as we're times of parts weakening -- lead those a channel our primarily plastic, hardware back of seeing closures, have temporarily where some book-and-bill the back, the connectors way But But We make the clearly fiberglass well. come here. transmission. bigger
you're maintenance. [indiscernible], and crosswalk say, crossing dry brand brand those them the contain If you're see for you the our as often down you safe pushing see corners those boxes lid look the a might are street the and you'll name button, of and accessible and on that the And telco. keep would electronics,
the very clear had important customer an Enclosures and there the by we business telcos. -- weakening Telecom see that And of of become
next we're of timing projects into the if someone where it. I interest receive they for stimulus think affected being year, else of have there's dollars rates, mix project seeing some but they'll to a wait pay high start by and their stimulus a
demand spending significant very timing that for that the of The seeing we're have medium-term robust. projects. So outlook is still pretty on
think, So vertical. weakness. we a impacted, this still I having growth But consider stimulus
So that's up in T&D.
in the the We've supply similarly nearly attractive seen so been into affected disruption side, up differently chain a growth margins. chips and On third nice constrained. been from basically prevented have loosen comp by business has here chip the supply AMI finalizing meters the and going and quarter at XX%
coming on momentum And see side. some we the comp so now
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quarter. to mentioned, fourth momentum our lift our awful an confidence, providing So and lot for fourth some of guidance into that gives us the Gerben that margin quarter as raise story to
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price XX% mid-single up digits. You expansion and margin volume a comprised see decline and X% a sales the down of low is being X% the there. growth digits $XXX single accomplished million, attractive being to decline the in All with
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reshoring side, soft, verticals very see been real. down our We resi renewables. the growth The is think And the data particular, tailwind, healthy On shipments, are and industrial we brighter double digits. and part. nicely the between in it's centers doing is
the side of we management resi. look story. see we and margin while we of the OP when successful right impacts the of expansion. of volume to dollars the think, phase inventory So actually We quite see It's a the the channel some page, soft growth absorbing
remarks. I a of portfolio intentional in as make only little opening high-growth, X, than outcome walk us I'll And our This really is And Gerben more on we X valuable comments X through one size on our platform for than couple gave high-margin cash companies. that his the profile of process, which they and in of focused stand-alone his more businesses do mentioned being moves. instances that us billion in bit the the really not really to see business a on to to performance can talk through flow are we range. and good enterprise $X detail enable acquisitions, -- good have you but of the want you kind believe really he comfortably very acquire Page finding you development is we and
So that's good.
in a years. we've business get very on which prevents spine It's it very the high to bottom effects. the I'm $XX in of million typical all, rester take the expensive with that fruition. page [indiscernible] tuck-in. of equipment on very I million Balestro. -- $XX insulated there this for pucks [indiscernible] us going really deal contact other with blocks those you attraction It's our to think making other would call America, the of exciting looks you many surges Hubbell you products. left from damaging hockey local with typical to of start help Balestro them Balestro, real at to electricity, an picture, they I sales allows Latin to the in protect has or attractive a and then But products, insulated little is kind for what voltage the the which MOV see of products conduction and see been
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for us. deal an it's so And exciting
help vertically make businesses. we high-margin share chain available The size integrated, and us of which supply to more are get so capacity can businesses, local those grow in actually business really now that grab
of for acquisition strategic us even size. very tuck-in sort of So though typical
Systems a may talk you it switch larger little what typical $XXX control on see sales, control and maybe in for systems page, footprint to of all that's $X.X billion bit a of does. essentially. this of than us, size being the next page, I about more But acquisition with size I'll million backlog
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normal closing year-end We've get closing. anticipating We We're satisfied. as signed conditions just by are anticipating closing it.
cash be will a acquisition We debt. from anticipating funds the of source for coming and
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how see cash to the be and flow $X a has to interesting by sheet affordable very leverage So to grown has allow deal balance means. the grown billion
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client So synergy very the the effectively. is with able force that but net business real base a grow impact, our for tend our sales and the to of doesn't really big be to being us
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step around voltage inside relay have look, bottom the really it of these see any the and to when those it you'll then and on damage of equipment one substations up to to gets to the fun the it's and substation last control of XX-foot down the each of prevent contain highway, mile, page, I in the you which of hope expensive electricity, flow steel transmit distributed and So user. these when you now start buildings to if on to panels, monitor of you generation, you towers. the And it on got these gets it. the the see white voltage and around stepped which drive control And
business It's all Hubbell nicely so customers. same of ways. the with in And kind fits many very this
In who turnkey basis, fact, product you're done us. is getting relationship-oriented this on for customers a good like which
you around switches, like, on around. sprinkled look upper bushings, hardware, If selling the substation we're insulators, the connectors that left, and already arresters,
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the buildings. So to customers that close in protection It's these involve work of valuable. very going and our designing becomes executing very with
fits -- is construction. out financial allow from growth start age. turnkey buildings I attractive. solution are thesis the both growth It's very continued there's and factory we're grown that We the substations in spending double-digit over of think in-field we on pleased here. high those to be it outlook has systems double -- And way history very very well. going been X control robust a And this for to provides are pivot at digits is trend. to we're as to substation that margins. think at constructed, for fits secondly, going XX,XXX so. there very trends years these construction think simple or So investment Its This really the The last
them. Brad growth really we businesses address last this his is his family. times know partner And team. to it. company. the and think up welcome team to into has private to has of part mentioning resources getting engage excited a lot He Brad a worth fit team, in the and we enjoyed management the of provide we it We to sell we're passion So grow to [indiscernible] with Hubbell to enable and run been really is in and XX-year to hired something [indiscernible] deep strategy, I at and say, the and Brad Brad would vet equity-owned
how we're about that to how on get back shared In that and we July, let's we had at flow, let expected range. range momentum talk so X% Gerben sales fourth and about you of had good the that cash we We're us you robust is to talked XX.XX to then. year with at million. XX.XX, X% the But that then to Page of So I'll $XXX July the XX%. earnings that the narrowing when quarter sets half, the tell that see 'XX. we last half we in growth finish initially XX, up will to in you the And upper feel to cutting really had range you'll
obviously. mid-single-digit think it's So the fourth there's typical we quarter -- left is is in our seasonality, And and always expect should quarter fewer fourth days. what we
So we impact usually sequentially. on sales get that
is dynamic, our to going to beyond. fourth in quarter. there, momentum which the as 'XX to The going its up as both and price we've help efficiency well we're cost And prospects stronger drive invest expansion a margin businesses set in to growth continue got
the normalizing with 'XX walk XX% chains think over picture pandemic and and pretty contraction of growth a again, really the 'XX So expansion X-year supply 'XX, I being driving price X-year 'XX interesting disruption this and in period. in supply shows cost the chain that
his thoughts pandemic profitable stronger, bigger, as preliminary a I really pleased we really think 'XX the investing coming that. in been of and on of help out to 'XX do the support we're able and feel to with beyond. give let we're you some enterprise we've sort Gerben I'll of So more
