Gerb. Thank a releases lot over aware of everybody. well Good There's today. morning, We're schedule. you, all that you're
appreciate we taking Hubbell's to So you performance. time discuss
overall, but that are comments a takes, little our puts full we on than with had better year consistent outlook X our seasonality. normal slides very Then that some the and anticipated. of you enterprise Page expectations performed of My hopefully the and bit And starting found. solidly,
control was Control, X% we'll $X.X the helping all the lighting which single-digit growth. about utility quarter. in in a sales of on arresters contributing components, X EIG, about in we our Our so the X%, acquisitions And the is about segment, talk the early growth disposition power were Systems turnkey quarter February. business; inorganic which closed substation X.X story about quickly. very and points that, high billion, a is inorganic of which X quarter. in contributing for Balestro, Organic business; residential solution
that quarter, cost the us about we points. of first X and sales months X So lost in
we to the meaningfully added feel but margin quantitative growth So that's side profile I the and the the enterprise. think we of of inorganic, qualitatively,
Operating offset we'll our XX.X%, by the well than the performance productivity better-than-expected is investment levels higher review. growth and was more about and Enclosures exposure down of as levels some more at including profit spending, restructuring business, X and we -- which which to decremental where in telecom on attractive cost point, talk segment productivity, is price get when
Earnings per cash year million. our profit of share operating last deliver was $X.XX, year, free outlook expense to and offset and by on full $XXX growth flat interest track to was flow dollar
mention destock a quarter -- of we're as worth And a it's down X difficult the XXXX dig specifically, little We'll compare, bit the on we of year-over-year quite first into was showing performance compares. and and that was price up maybe year last that, X performance it's strong we a was up to and It per Page the deeper margins points. cost really, do really just tailwind. share And remind strong -- earnings we XX% particularly pre-investments where everybody, had and a made. OP pre
real I pleased was as important our of really the were slightly to of think Sales points said, we're down franchise. So look compares. quite line, with is price driving volume up, of the comprised of organic, X% X we showing we context strength that top which $X.X as year-over-year that price X% is performance to that and was billion,
talked on profit down it's because about margins commenting basis XX you the where as sequentially. is dollars compare X% to sequential, see it's The points difficult we operating $XXX up in up the worth year-over-year X point, million. we see And
to think we setting seasonal So normal quite positive a year. that's up
investment X investment. was the by companies that maybe comment Earnings at I of The interest about expense was bought. And per year. a from of the that billion. the OP balance absorbed share that last it's offset on $X.XX how mentioned $X.XX those, flat sheet value to we level worth combined
combination sold acquisitions a a financed cash as with of X business, mentioned. also and those debt We we and
X.Xx. So increased of that, gross we debt the a turn balance to we impact sheet half to went X.Xx from all EBITDA,
So we're solid easily a talk CapEx, I'll second. to to in still acquisitions very about absorbed balance and in after and investing invest which positioned billion, sheet, continue very very, a well $X.XX very
absorbing that short to medium-term highlight you ramping the XX% expenditures XX% CapEx in that, confidence when at at million. level. that's really our I When can see our $XX and million, and we're free to cash increase outlook, did up I you that flow a see think And in want $XX capital
we'll learn as we I a think lot into So dig the segments.
We'll up and neutral offset essentially is and similar Page sales start up see and a X%, X XX% of in X. sales is -- the Utility volume. points I on with The decline by the size segment OP, price where there's organic growth in all XX% acquisitions.
operating You'll be team. we've businesses consistent left, units Greg lower has the the these organized the way with see bold on reclassified his to X the with into words that
grid So versus automation. grid infrastructure
infrastructure. grid In
that's area. in acquisition have We all gas namely some we components. traditional T&D we turnkey have and business, infrastructure the specialty and new the businesses in our solutions grid infrastructure enclosures substation That's have
we is in as automation, And have which products and the well protection control and then products. as communications the Aclara, meters
controls the with products, You'll the name recall as are well infusing protection. which as Beckwith providing switching
we well. Distribution, on -- way from Business Utility Transmission inventory. digits. near the next very longer worked was end double still the all we -- has what show channel little channel Business the are you think that those. end the holding as inventory very, some the up We're the page But and of So its through we'll a getting expect expected sizes normalization. worked we persisting than their largely performed still going customers to Core but and think Infrastructure the through,
putting So closer we're that to getting behind us.
very the to you'll get same through next, they we went segment Electrical when emerged and see healthily. the last year And have that
in said PCP financial for and performance T&D So very good its really performance. constructively that business it's
and area. also both likewise, Automation, and in growth but double-digit meters in area, the control comm the protection Grid
headwind segment. are the make is that is for contribution the enclosures coming really Business Specialty really sector, from Telecom So which Infrastructure inside and The strong there. that really telecom we
very and normalization XX% in significant are channel business The profitable. headwind with a customer both They decline is period, a navigating volumes. line creating inventory
And so OP it's creating an drag.
So is the and segment that X the X.X effect line you line. on see the about points on points can about as top of OP
of the X%. utility for remind segment OP year was OP up to you XX%. the last So up compare the is the Again,
So being decrementals X.X in is A decline very points growing off of of telecom. margin impressive. by led that of the
of investments for positive. made long-term segment. quite growth and very about and profitably, clear, we've acquisitions is drag systems -- X the mid-XXs level Business be of all productivity medium-term our first doing to the of being we performing are and outlook a Telecom the point essentially point X.X mentioned, part created created of all make the that actually And And continue drag of Those against to in control really that which quarter well but are all. in also
the performance I equation And think, good positive. was price/cost there. very So productivity still,
quarter fourth margins So compares. I last year-over-year want XX you -- year, up the Again, the the to we're bps. highlight from of showing do sequentially are
we're seasonality feeling successful up we're a again So setting like for normal year-on-year.
I and wanted X, about units. on business clear we're nomenclature page, the have make to just we where add to different Page a sure being our
So can is on the the left, infrastructure the you XX% comprising segment of grid and automation. the balance grid see
That's then there see the telecom represents and X:XX utility can the X:XX about from from T&D about to and on -- noon, then Then the specialty. transmission X:XX to to the X:XX, between gas, from see you which products. you X:XX distribution. You the or substation, And protection noon pie. and traditional see meters businesses Aclara about the can
clarity to different of gives sizes that relative businesses. some those hopefully, So the
performing just we not they're because all same. bit added little exactly And a the
for trends quarter the wanted we first So out against balance expecting of what the lay we're year. to
expecting Transmission -- said, medium come some substation and in And weak, the Telecom term. we're that but we improvement, rebound softness, was as anticipating where Distribution, strong. the will again, very we're sequential
demand against when And it's serve so being balancing able cutting there representing challenge. our comes interesting cost to back,
on Meters has been successful its conversion. backlog
noting expect is little for the the product to Protection and that get more strong. and continue. We We're them, comps Controls difficult a very
very Utility, of healthy we're business. segments. think, uniquely got pricing pleased visibility we expecting and these nice up, positioned in of in the set markets strong sum our majority the the with in seasonality a really, and a So We've normal
more Electrical segment, -- So to little to X bit switch the straightforward a everybody. to I Page explain to on to want
sales you the of million, flat $XXX residential lighting. see about out at of the You effect divestiture take
about. quick pleased pleased We points and volume, utility side give their us which well. points we're that, as which were also up helps organically, be emerge points of will the that destocking from confidence we're X X on as of price, about they X
we over what as There's markets, of growth specifically strength data our well industrial in but verticals as in also centers. XX% are which describe up as each. renewables to
increase the top So great expansion Solutions and a on nicely to price well to basis that's you point performance. of so cost X% the at volume see translating Electrical both on million margin $XX see OP XX performing the level, line, and
We are his segment. successfully as simplifying continuing you Power in more the implemented collectively we've footprint, emphasizing compete out on to team, would to with at that discussed so a execute the really the create cross-selling, that mindset and call he Mark playbook all optimizing Systems structure. the
be So margin to digits to added OP we there's do. some have done great of expansion of spending another many as if being X Electrical quarter. of double would having a XX solid peers were that bps i.e., another growth, and R&R Like we points such adjust restructuring our see to out and
balance outlook that, on with Gerben turn I'll it the for the our And back to of year.
